XML 28 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Net revenues $ 457,786 $ 418,498 $ 1,290,985 $ 1,199,324
Type of Revenue [Extensible List] us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) $ 148,846 $ 140,699 $ 435,706 $ 419,776
Type of Cost, Good or Service [Extensible List] us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization) $ 80,561 $ 73,166 $ 238,270 $ 213,060
Corporate expenses (exclusive of depreciation and amortization) 23,185 20,776 58,888 62,027
Depreciation and amortization 63,951 55,089 187,150 167,251
(Gain) loss on disposition of assets (199) 407 (5,360) 7,265
Total Operating Expenses 316,344 290,137 914,654 869,379
Operating income 141,442 128,361 376,331 329,945
Other expense (income)        
Loss on extinguishment of debt       15,429
Interest income (168) (157) (553) (313)
Interest expense 38,323 31,850 114,240 97,321
Non-operating (Income) Expenses 38,155 31,693 113,687 112,437
Income before income tax expense 103,287 96,668 262,644 217,508
Income tax expense (benefit) 3,578 2,612 (6,714) 7,969
Net income 99,709 94,056 269,358 209,539
Cash dividends declared and paid on preferred stock 91 91 273 273
Net income applicable to common stock $ 99,618 $ 93,965 $ 269,085 $ 209,266
Earnings per share:        
Basic earnings per share $ 0.99 $ 0.95 $ 2.69 $ 2.12
Diluted earnings per share 0.99 0.95 2.69 2.12
Cash dividends declared per share of common stock $ 0.96 $ 0.91 $ 2.88 $ 2.73
Weighted average common shares used in computing earnings per share:        
Weighted average common shares outstanding basic 100,329,262 98,943,535 100,019,765 98,596,828
Weighted average common shares outstanding diluted 100,522,177 99,253,008 100,210,143 98,870,116
Statements of Comprehensive Income        
Net income $ 99,709 $ 94,056 $ 269,358 $ 209,539
Other comprehensive (loss) income        
Foreign currency translation adjustments (174) 221 372 (599)
Comprehensive income 99,535 94,277 269,730 208,940
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]        
Net revenues $ 457,786 $ 418,498 $ 1,290,985 $ 1,199,324
Type of Revenue [Extensible List] us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember
Operating expenses (income)        
Direct advertising expenses (exclusive of depreciation and amortization) $ 148,846 $ 140,699 $ 435,706 $ 419,776
Type of Cost, Good or Service [Extensible List] us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization) $ 80,561 $ 73,166 $ 238,270 $ 213,060
Corporate expenses (exclusive of depreciation and amortization) 23,062 20,667 58,567 61,723
Depreciation and amortization 63,951 55,089 187,150 167,251
(Gain) loss on disposition of assets (199) 407 (5,360) 7,265
Total Operating Expenses 316,221 290,028 914,333 869,075
Operating income 141,565 128,470 376,652 330,249
Other expense (income)        
Loss on extinguishment of debt       15,429
Interest income (168) (157) (553) (313)
Interest expense 38,323 31,850 114,240 97,321
Non-operating (Income) Expenses 38,155 31,693 113,687 112,437
Income before income tax expense 103,410 96,777 262,965 217,812
Income tax expense (benefit) 3,578 2,612 (6,714) 7,969
Net income 99,832 94,165 269,679 209,843
Statements of Comprehensive Income        
Net income 99,832 94,165 269,679 209,843
Other comprehensive (loss) income        
Foreign currency translation adjustments (174) 221 372 (599)
Comprehensive income $ 99,658 $ 94,386 $ 270,051 $ 209,244