Goodwill and Other Intangible Assets (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2012

Dec. 31, 2011

Summary of Intangible Assets

The following is a summary of intangible assets at September 30, 2012 and December 31, 2011.

	Estimated Life (Years)	September 30, 2012				December 31, 2011
		Gross  Carrying Amount		Accumulated Amortization		Gross  Carrying Amount		Accumulated Amortization
Customer lists and contracts	7 – 10	$	474,225	$	457,157	$	468,371	$	451,524
Non-competition agreements	3 – 15		63,665		62,495		63,592		61,849
Site locations	15		1,414,227		995,396		1,383,076		925,291
Other	5 –15		13,608		13,125		13,608		13,103
		$	1,965,725	$	1,528,173	$	1,928,647	$	1,451,767
Unamortizable intangible assets:
Goodwill		$	1,688,746	$	253,635	$	1,680,483	$	253,635

The following is a summary of intangible assets at December 31, 2011 and December 31, 2010:

	Estimated	2011				2010
	Life (Years)	Gross  Carrying Amount		Accumulated Amortization		Gross  Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Customer lists and contracts	7 — 10	$	468,371	$	451,524	$	466,412	$	441,641
Non-competition agreements	3 — 15		63,592		61,849		63,493		60,955
Site locations	15		1,383,076		925,291		1,375,298		833,418
Other	5 — 15		13,608		13,103		13,608		13,074
		$	1,928,647	$	1,451,767	$	1,918,811	$	1,349,088
Unamortizable Intangible Assets: Goodwill		$	1,680,483	$	253,635	$	1,679,770	$	253,635

Changes in Gross Carrying Amount of Goodwill

The changes in the gross carrying amount of goodwill for the year ended December 31, 2011 are as follows:

Balance as of December 31, 2010	$	1,679,770
Goodwill acquired during the year		775
Purchase price adjustments and other		(62	)
Impairment losses		—
Balance as of December 31, 2011	$	1,680,483

Amortization Expense for Future Years

Amortization expense for the year ended December 31, 2011 was $102,918. The following is a summary of the estimated amortization expense for future years:

Year ended December 31, 2012	$	99,917
Year ended December 31, 2013		97,165
Year ended December 31, 2014		83,200
Year ended December 31, 2015		46,770
Year ended December 31, 2016		36,267
Thereafter		113,561
Total	$	476,880

LAMAR MEDIA CORP

Summary of Intangible Assets

The following is a summary of intangible assets at December 31, 2011 and December 31, 2010:

	Estimated Life (Years)	2011				2010
		Gross  Carrying Amount		Accumulated Amortization		Gross  Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Customer lists and contracts	7—10	$	468,371	$	451,524	$	466,412	$	441,641
Non-competition agreement	3—15		63,592		61,849		63,493		60,955
Site locations	15		1,383,076		925,290		1,375,298		833,418
Other	5—15		13,063		13,063		13,063		13,063
		$	1,928,102	$	1,451,726	$	1,918,266	$	1,349,077
Unamortizable Intangible Assets:
Goodwill		$	1,669,462	$	252,766	$	1,668,749	$	252,766

Changes in Gross Carrying Amount of Goodwill

The changes in the gross carrying amount of goodwill for the year ended December 31, 2011 are as follows:

Balance as of December 31, 2010	$	1,668,749
Goodwill acquired during the year		775
Purchase price adjustments and other		(62	)
Impairment losses		—
Balance as of December 31, 2011	$	1,669,462