PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT:

Property and equipment are stated at cost, less accumulated depreciation.  Depreciation is generally computed under the straight-line method over the following estimated useful lives:

Buildings and improvements	10 - 30 years
Station equipment	5 - 10 years
Office furniture and equipment	5 - 10 years
Leasehold improvements	Lesser of 10 - 30 years or lease term
Automotive equipment	3 - 5 years
Property and equipment under capital leases	Lease term

Acquired property and equipment as discussed in Note 2. Acquisitions and Disposition of Assets, is depreciated on a straight-line basis over the respective estimated remaining useful lives.

Property and equipment consisted of the following as of December 31, 2016 and 2015 (in thousands):

	2016			2015
Land and improvements	$	73,124		$	60,678
Real estate held for development and sale	90,087			91,106
Buildings and improvements	239,603			210,597
Station equipment	702,004			667,454
Office furniture and equipment	101,252			85,411
Leasehold improvements	24,762			22,693
Automotive equipment	56,507			47,402
Capital leased assets	84,516			84,474
Construction in progress	30,880			34,666
	1,402,735			1,304,481
Less: accumulated depreciation	(685,159		)	(587,344		)
	$	717,576		$	717,137

Capital leased assets are related to building, tower and equipment leases.  Depreciation related to capital leases is included in depreciation expense in the consolidated statements of operations. We recorded capital lease depreciation expense of $4.2 million, $3.9 million and $3.7 million for the years ended December 31, 2016, 2015 and 2014, respectively.