Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2014

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III

LAMAR ADVERTISING COMPANY

AND SUBSIDIARIES

Schedule of Real Estate and Accumulated Depreciation

December 31, 2014

(In thousands)

Description (1)

Encumbrances

Initial Cost(2)

Gross Carrying
Amount (3)

Accumulated
Depreciation

Construction
Date

Acquisition
Date

Useful Lives

317,597 Displays

—

2,520,644

(1,903,434

)

Various

5 to 20
years

(1)	no single asset exceeded 5% of the total gross carrying amount at December 31, 2014

(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,
	2014			2013
Gross real estate assets:
Balance at the beginning of the year	$	2,459,425		$	2,378,940
Additions for construction, acquisition, improvements to structures		98,857			112,459
Assets sold or written-off		(36,392	)		(31,328	)
Foreign exchange		(1,246	)		(646	)

Balance at the end of the year	$	2,520,644		$	2,459,425


Accumulated depreciation:
Balance at the beginning of the year	$	1,799,325		$	1,657,784
Depreciation		135,679			161,172
Assets sold or written-off		(30,994	)		(19,213	)
Foreign exchange		(576	)		(418	)

Balance at the end of the year	$	1,903,434		$	1,799,325

LAMAR MEDIA CORP [Member]