XML 51 R37.htm IDEA: XBRL DOCUMENT v3.22.2
Acquisitions (Tables)
6 Months Ended
Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following is a summary of the allocation of the purchase price in the above transactions, which includes the preliminary values for the acquisition of Burkhart Advertising Inc., which was completed on May 4, 2022 for an aggregate purchase price of $130,000.
Total
Property, plant and equipment$37,342 
Goodwill67,757 
Site locations110,798 
Non-competition agreements1,730 
Customer lists and contracts15,615 
Asset acquisition costs468 
Current assets1,793 
Current liabilities(4,284)
Operating lease right of use assets27,070 
Operating lease liabilities(23,997)
$234,292 
Business Acquisition, Pro Forma Information The following unaudited pro forma financial information for the Company gives effect to the 2022 and 2021 acquisitions as if they had occurred on January 1, 2021. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company's results of operations for any future period.
Three Months Ended
June 30,
Six Months Ended
June 30,
2022202120222021
(unaudited)
Net revenues$523,030 $459,492 $975,807 $847,569 
Net income applicable to common stock$135,464 $120,683 $224,792 $159,485 
Net income per common share- basic$1.33 $1.19 $2.22 $1.58 
Net income per common share- diluted$1.33 $1.19 $2.21 $1.58