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Schedule III - Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2020
Schedule III - Real Estate and Accumulated Depreciation
 
SCHEDULE III
LAMAR ADVERTISING COMPANY
AND SUBSIDIARIES
Schedule of Real Estate and Accumulated Depreciation
December 31, 2020, 2019 and 2018
(In thousands)
 
Description
(1)
   
Encumbrances
     
Initial Cost
(2)
     
Gross
Carrying

Amount
(3)
     
Accumulated

Depreciation
    
Construction

Date
     
Acquisition

Date
     
Useful Lives
  
354,571 Displays
      —          —        $ 3,293,778      $ (2,192,700 )      Various        Various        5 to 20 years  
 
(1)
 
No single asset exceeded 5% of the total gross carrying amount at December 31, 2020
(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,
2020
    
December 31,
2019
    
December 31,
2018
  
Gross real estate assets:
                         
Balance at the beginning of the year
    $ 3,333,590     $ 3,201,434     $ 3,074,046  
Capital expenditures on new advertising displays
(4)
      21,598       59,604       54,151  
Capital expenditures on improvements/redevelopments of existing advertising displays
      13,021       25,025       12,781  
Capital expenditures other recurring
      12,631       36,354       34,758  
Land acquisitions
(6)
      8,980       22,965       15,368  
Acquisition of advertising displays
(5) (6)
      4,446       23,589       82,617  
Assets sold or
written-off
      (100,906 )      (35,320 )      (70,494 ) 
Foreign exchange
      418       (61 )      (1,793 ) 
    
 
 
    
 
 
    
 
 
  
Balance at the end of the year
    $ 3,293,778     $ 3,333,590     $ 3,201,434  
    
 
 
    
 
 
    
 
 
  
Accumulated depreciation:
                         
Balance at the beginning of the year
    $ 2,166,579     $ 2,082,335     $ 2,025,251  
Depreciation
      111,049       111,531       106,700  
Assets sold or
written-off
      (85,267 )      (27,890 )      (48,488 ) 
Foreign exchange
      339       603       (1,128 ) 
    
 
 
    
 
 
    
 
 
  
Balance at the end of the year
    $ 2,192,700     $ 2,166,579     $ 2,082,335  
    
 
 
    
 
 
    
 
 
  
 
(4)
 
Includes
non-cash
amounts of $621, $554 and $446 at December 31, 2020, 2019 and 2018, respectively
(5)
 
Includes
non-cash
amounts $1,928 and $7,199 at December 31, 2019 and 2018, 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, 2020, 2019 and 2018
(In thousands)
 
Description
(1)
   
Encumbrances
     
Initial Cost
(2)
     
Gross Carrying

Amount
(3)
     
Accumulated

Depreciation
    
Construction

Date
     
Acquisition

Date
     
Useful Lives
  
354,571 Displays
      —          —        $ 3,293,778      $ (2,192,700 )      Various        Various        5 to 20 years  
 
(1)
 
No single asset exceeded 5% of the total gross carrying amount at December 31, 2020
(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,

2020
     
December 31,

2019
     
December 31,

2018
  
Gross real estate assets:
                           
Balance at the beginning of the year
    $ 3,333,590      $ 3,201,434      $ 3,074,046  
Capital expenditures on new advertising displays
(4)
      21,598        59,604        54,151  
Capital expenditures on improvements/redevelopments of existing advertising displays
      13,021        25,025        12,781  
Capital expenditures other recurring
      12,631        36,354        34,758  
Land acquisitions
(6)
      8,980        22,965        15,368  
Acquisition of advertising displays
(5)(6)
      4,446        23,589        82,617  
Assets sold or
written-off
      (100,906 )       (35,320 )       (70,494 ) 
Foreign exchange
      418        (61 )       (1,793 ) 
    
 
 
     
 
 
     
 
 
  
Balance at the end of the year
    $ 3,293,778      $ 3,333,590      $ 3,201,434  
    
 
 
     
 
 
     
 
 
  
Accumulated depreciation:
                           
Balance at the beginning of the year
    $ 2,166,579      $ 2,082,335      $ 2,025,251  
Depreciation
      111,049        111,531        106,700  
Assets sold or
written-off
      (85,267 )       (27,890 )       (48,488 ) 
Foreign exchange
      339        603        (1,128 ) 
    
 
 
     
 
 
     
 
 
  
Balance at the end of the year
    $ 2,192,700      $ 2,166,579      $ 2,082,335  
    
 
 
     
 
 
     
 
 
  
 
(4)
 
Includes
non-cash
amounts of $621, $554 and $446 at December 31, 2020, 2019 and 2018, respectively
(5)
 
Includes
non-cash
amounts of $1,928 and $7,199 at December 31, 2019 and 2018, respectively
(6)
 
Includes preliminary allocation of assets acquired from Fairway at December 31, 2018