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Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2018
Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III

LAMAR ADVERTISING COMPANY

AND SUBSIDIARIES

Schedule of Real Estate and Accumulated Depreciation

December 31, 2018, 2017 and 2016

(In thousands)

 

Description(1)

 

Encumbrances

 

 

Initial Cost(2)

 

 

Gross Carrying

Amount(3)

 

 

Accumulated

Depreciation

 

 

Construction

Date

 

Acquisition

Date

 

Useful Lives

359,138 Displays

 

 

—

 

 

 

—

 

 

$

3,201,434

 

 

$

(2,082,335

)

 

Various

 

Various

 

5 to 20 years

 

(1)

No single asset exceeded 5% of the total gross carrying amount at December 31, 2018

(2)

This information is omitted, as it would be impracticable to compile such information on a site-by-site basis

(3)

Includes sites under construction

The following table summarizes activity for the Company’s real estate assets, which consists of advertising displays and the related accumulated depreciation.

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

 

 

2018

 

 

2017

 

 

2016

 

Gross real estate assets:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of the year

 

$

3,074,046

 

 

$

2,998,540

 

 

$

2,856,243

 

Capital expenditures on new advertising displays(4)

 

 

54,151

 

 

 

49,946

 

 

 

50,799

 

Capital expenditures on improvements/redevelopments of existing advertising displays

 

 

12,781

 

 

 

6,265

 

 

 

12,031

 

Capital expenditures other recurring

 

 

34,758

 

 

 

32,523

 

 

 

26,254

 

Land acquisitions(6)

 

 

15,368

 

 

 

14,904

 

 

 

30,283

 

Acquisition of advertising displays(5) (6)

 

 

82,617

 

 

 

32,109

 

 

 

69,821

 

Assets sold or written-off

 

 

(70,494

)

 

 

(61,306

)

 

 

(47,317

)

Foreign exchange

 

 

(1,793

)

 

 

1,065

 

 

 

426

 

Balance at the end of the year

 

$

3,201,434

 

 

$

3,074,046

 

 

$

2,998,540

 

Accumulated depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of the year

 

$

2,025,251

 

 

$

1,973,958

 

 

$

1,910,860

 

Depreciation

 

 

106,700

 

 

 

102,494

 

 

 

100,197

 

Assets sold or written-off

 

 

(48,488

)

 

 

(51,976

)

 

 

(37,373

)

Foreign exchange

 

 

(1,128

)

 

 

775

 

 

 

274

 

Balance at the end of the year

 

$

2,082,335

 

 

$

2,025,251

 

 

$

1,973,958

 

 

(4)

Includes non-cash amounts of $446, $921 and $379 at December 31, 2018, 2017 and 2016, respectively

(5)

Includes non-cash amounts of $7,199, $3,043 and $4,623 at December 31, 2018, 2017 and 2016, respectively

(6)

Includes preliminary allocation of assets acquired from Fairway at December 31, 2018
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]  
Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Schedule of Real Estate and Accumulated Depreciation

December 31, 2018, 2017 and 2016

(In thousands)

 

Description(1)

 

Encumbrances

 

 

Initial Cost(2)

 

 

Gross Carrying

Amount(3)

 

 

Accumulated

Depreciation

 

 

Construction

Date

 

Acquisition

Date

 

Useful Lives

359,138 Displays

 

 

—

 

 

 

—

 

 

$

3,201,434

 

 

$

(2,082,335

)

 

Various

 

Various

 

5 to 20 years

 

(1)

No single asset exceeded 5% of the total gross carrying amount at December 31, 2018

(2)

This information is omitted, as it would be impracticable to compile such information on a site-by-site basis

(3)

Includes sites under construction

The following table summarizes activity for the Company’s real estate assets, which consists of advertising displays and the related accumulated depreciation.

 

 

 

December 31,

2018

 

 

December 31,

2017

 

 

December 31,

2016

 

Gross real estate assets:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of the year

 

$

3,074,046

 

 

$

2,998,540

 

 

$

2,856,243

 

Capital expenditures on new advertising displays(4)

 

 

54,151

 

 

 

49,946

 

 

 

50,799

 

Capital expenditures on improvements/redevelopments of existing advertising displays

 

 

12,781

 

 

 

6,265

 

 

 

12,031

 

Capital expenditures other recurring

 

 

34,758

 

 

 

32,523

 

 

 

26,254

 

Land acquisitions(6)

 

 

15,368

 

 

 

14,904

 

 

 

30,283

 

Acquisition of advertising displays(5) (6)

 

 

82,617

 

 

 

32,109

 

 

 

69,821

 

Assets sold or written-off

 

 

(70,494

)

 

 

(61,306

)

 

 

(47,317

)

Foreign exchange

 

 

(1,793

)

 

 

1,065

 

 

 

426

 

Balance at the end of the year

 

$

3,201,434

 

 

$

3,074,046

 

 

$

2,998,540

 

Accumulated depreciation:

 

 

 

 

 

 

 

 

 

 

 

 

Balance at the beginning of the year

 

$

2,025,251

 

 

$

1,973,958

 

 

$

1,910,860

 

Depreciation

 

 

106,700

 

 

 

102,494

 

 

 

100,197

 

Assets sold or written-off

 

 

(48,488

)

 

 

(51,976

)

 

 

(37,373

)

Foreign exchange

 

 

(1,128

)

 

 

775

 

 

 

274

 

Balance at the end of the year

 

$

2,082,335

 

 

$

2,025,251

 

 

$

1,973,958

 

 

(4)

Includes non-cash amounts of $446, $921 and $379 at December 31, 2018, 2017 and 2016, respectively

(5)

Includes non-cash amounts of $7,199, $3,043 and $4,623 at December 31, 2018, 2017 and 2016, respectively

(6)

Includes preliminary allocation of assets acquired from Fairway at December 31, 2018