XML 56 R46.htm IDEA: XBRL DOCUMENT v3.20.2
Long-term Debt - Additional Information (Detail) - USD ($)
3 Months Ended 9 Months Ended
Oct. 23, 2020
Sep. 16, 2020
Aug. 31, 2020
Aug. 19, 2020
Jun. 29, 2020
May 13, 2020
Feb. 20, 2020
Feb. 06, 2020
Feb. 01, 2019
Dec. 18, 2018
Jan. 28, 2016
Jan. 10, 2014
Oct. 30, 2012
Sep. 30, 2020
Sep. 30, 2020
Mar. 16, 2020
Dec. 31, 2019
Debt Instrument [Line Items]                                  
Debt instrument description                             On February 6, 2020, Lamar Media entered into a Fourth Amended and Restated Credit Agreement (the “Fourth Amended and Restated Credit Agreement”) with certain of Lamar Media’s subsidiaries as guarantors, JPMorgan Chase Bank, N.A. as administrative agent and the lenders party thereto, under which the parties agreed to amend and restate Lamar Media’s existing senior credit facility. The Fourth Amended and Restated Credit Agreement amended and restated the Third Amended and Restated Credit Agreement dated as of May 15, 2017, as amended (the “Third Amended and Restated Credit Agreement”).    
Proceeds received from term B loans                             $ 598,500,000    
Loss on debt extinguishment                           $ 7,051,000 25,235,000    
Outstanding revolving credit facility                           70,000,000 70,000,000    
Remaining borrowing capacity under revolving credit facility                           666,916,000 666,916,000    
Aggregate principal amount of debt issued                           3,005,567,000 3,005,567,000    
Debt instrument outstanding amount                           3,005,567,000 3,005,567,000   $ 3,004,532,000
Letter of Credit [Member]                                  
Debt Instrument [Line Items]                                  
Letter of credit outstanding balance                           13,084,000 13,084,000    
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]                                  
Debt Instrument [Line Items]                                  
Proceeds received from term B loans                             598,500,000    
Loss on debt extinguishment                           $ 7,051,000 25,235,000    
Senior Credit Facility [Member]                                  
Debt Instrument [Line Items]                                  
Loss on debt extinguishment                             $ 5,608,000    
3 3/4% Senior Notes [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage               3.75%           3.75% 3.75%    
Debt instrument outstanding amount                           $ 600,000,000 $ 600,000,000    
Redeemed percentage of aggregate principal amount               103.75%                  
Redemption percentage of aggregate principal amount of senior notes               40.00%                  
Redemption percentage of issued notes which remain outstanding               60.00%                  
3 3/4% Senior Notes [Member] | Prior to February 15, 2023 [Member]                                  
Debt Instrument [Line Items]                                  
Redeemed percentage of aggregate principal amount               100.00%                  
Redemption price percentage of the principal amount to be purchased               101.00%                  
3 3/4% Senior Notes [Member] | Private Placement [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage               3.75%                  
Aggregate principal amount of debt issued               $ 600,000,000                  
Net proceeds form the issuance of debt                 $ 592,500,000                
4% Senior Notes [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage               4.00%           4.00% 4.00%    
Debt instrument outstanding amount                           $ 549,260,000 $ 549,260,000    
Redemption price percentage of the principal amount to be purchased               101.00%                  
4% Senior Notes [Member] | Prior to February 1, 2021 [Member]                                  
Debt Instrument [Line Items]                                  
Redeemed percentage of aggregate principal amount               100.00%                  
4% Senior Notes [Member] | Prior to February 15, 2023 [Member]                                  
Debt Instrument [Line Items]                                  
Redeemed percentage of aggregate principal amount               104.00%                  
Redemption percentage of aggregate principal amount of senior notes               40.00%                  
Redemption percentage of issued notes which remain outstanding               60.00%                  
4% Senior Notes [Member] | Private Placement [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage       4.00%       4.00%                  
Aggregate principal amount of debt issued       $ 150,000,000       $ 400,000,000                  
Net proceeds form the issuance of debt       $ 146,900,000         $ 395,000,000                
Accounts Receivable Securitization Program [Member]                                  
Debt Instrument [Line Items]                                  
Debt instrument maturity date                   Dec. 17, 2021              
Aggregate principal amount of debt issued                   $ 175,000,000              
Increase in delinquency ratio                           11.00% 11.00%    
Delinquency ratio         8.00%                        
Increase in dilution ratio                           7.00% 7.00%    
Dilution ratio         4.00%                        
Increase in days sales outstanding                             75 days    
Number of days sales outstanding         65 days                        
Percentage of commitment to maintain minimum borrowings 70.00%                           50.00%    
Minimum Funding Threshold requires the Special Purpose Subsidiaries to maintain minimum borrowings under the Accounts Receivable Securitization Program on any day equal to the lesser of (i) 70.00% of the aggregate Commitment of all Lenders or (ii) the Borrowing Base, though the Special Purpose Subsidiaries have the right to borrow less than the Minimum Funding Threshold during certain periods prior to December 21, 2020 at their election.                           requires the Special Purpose Subsidiaries to maintain minimum borrowings under the    
Debt instrument outstanding amount                           $ 122,500,000 $ 122,500,000   $ 175,000,000
Delinquency ratio 13.00%                                
Dilution ratio 5.00%                                
Accounts Receivable Securitization Program [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]                                  
Debt Instrument [Line Items]                                  
Available borrowing on accounts receivable securitization                           $ 35,300,000 35,300,000    
Accounts Receivable Securitization Program [Member] | For Up To Two Additional Periods [Member]                                  
Debt Instrument [Line Items]                                  
Delinquency ratio 16.00%                                
5% Senior Subordinated Notes [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage                         5.00%       5.00%
Loss on debt extinguishment                             7,051,000    
Aggregate principal amount of debt issued                         $ 535,000,000        
Debt instrument outstanding amount                                 $ 535,000,000
Net proceeds form the issuance of debt                         $ 527,100,000        
Debt Instrument Redemption Amount   $ 267,500,000 $ 267,500,000                            
Redeemed percentage of aggregate principal amount   100.833% 100.833%                            
Loss on debt extinguishment on cash                             4,456,000    
5 3/8% Senior Notes [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage                       5.375%         5.375%
Loss on debt extinguishment                             12,576,000    
Aggregate principal amount of debt issued                       $ 510,000,000          
Debt instrument outstanding amount                                 $ 510,000,000
Net proceeds form the issuance of debt                       $ 502,300,000          
Redeemed percentage of aggregate principal amount             101.792%                    
Loss on debt extinguishment on cash                             $ 9,139,000    
Redemption, description             Lamar Media used the proceeds from the 4% Senior Notes and 3 3/4% Senior Notes to redeem in full all of the 5 3/8% Notes on February 20, 2020 at a redemption price of 101.792% of the aggregate principal amounts of the outstanding 5 3/8% Notes, plus accrued and unpaid interest up to but not including the redemption date                    
5 3/4% Senior Notes [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage                     5.75%     5.75% 5.75%   5.75%
Aggregate principal amount of debt issued                     $ 400,000,000            
Debt instrument outstanding amount                           $ 653,810,000 $ 653,810,000   $ 654,345,000
Net proceeds form the issuance of debt                     $ 394,500,000            
Redemption price percentage of the principal amount to be purchased                 101.00%                
5 3/4% Senior Notes [Member] | Prior to February 1, 2021 [Member]                                  
Debt Instrument [Line Items]                                  
Redeemed percentage of aggregate principal amount                 100.00%                
5 3/4% Senior Notes [Member] | Private Placement [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage                 5.75%                
Aggregate principal amount of debt issued                 $ 250,000,000                
Net proceeds form the issuance of debt                 $ 251,500,000                
4 7/8% Senior Notes [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage                           4.875% 4.875%    
Debt instrument outstanding amount                           $ 400,000,000 $ 400,000,000    
Redeemed percentage of aggregate principal amount           104.875%                      
Redemption percentage of aggregate principal amount of senior notes           40.00%                      
Redemption percentage of issued notes which remain outstanding           60.00%                      
4 7/8% Senior Notes [Member] | Prior to February 15, 2023 [Member]                                  
Debt Instrument [Line Items]                                  
Redeemed percentage of aggregate principal amount           100.00%                      
Redemption price percentage of the principal amount to be purchased           101.00%                      
4 7/8% Senior Notes [Member] | Private Placement [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage           4.875%                      
Aggregate principal amount of debt issued           $ 400,000,000                      
Net proceeds form the issuance of debt           $ 395,000,000                      
Senior or Senior Subordinated Notes and other Indebtedness [Member] | Debt Instrument Repurchase Program [Member]                                  
Debt Instrument [Line Items]                                  
Debt repurchase program, authorized amount                               $ 250,000,000  
Debt instrument repurchase expiry date                             Sep. 30, 2021    
Debt instrument repurchased under the program                           $ 0 $ 0    
Senior Credit Facility [Member]                                  
Debt Instrument [Line Items]                                  
Maximum borrowing limit of incremental loan facility               $ 750,000,000                  
Debt instrument maturity date               Feb. 06, 2025                  
Term B Loan Facility [Member]                                  
Debt Instrument [Line Items]                                  
Maximum borrowing limit of incremental loan facility               $ 600,000,000                  
Debt instrument maturity date               Feb. 06, 2027                  
Proceeds received from term B loans               $ 600,000,000                  
Term B Loan Facility [Member] | LIBO Rate [Member]                                  
Debt Instrument [Line Items]                                  
Adjusted Rate               1.50%                  
Term B Loan Facility [Member] | Base Rate [Member]                                  
Debt Instrument [Line Items]                                  
Adjusted Rate               0.50%                  
Revolving Credit Facility [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]                                  
Debt Instrument [Line Items]                                  
Debt instrument maturity date                             Feb. 06, 2025    
Revolving Credit Facility [Member] | LIBO Rate [Member]                                  
Debt Instrument [Line Items]                                  
Secured debt ratio               3.25                  
Adjusted Rate               1.50%                  
Ratio of indebtedness to net capital minimum               1                  
Revolving Credit Facility [Member] | LIBO Rate [Member] | Debt Ratio Less Than Three Point Two Five [Member]                                  
Debt Instrument [Line Items]                                  
Adjusted Rate               1.25%                  
Revolving Credit Facility [Member] | Base Rate [Member]                                  
Debt Instrument [Line Items]                                  
Secured debt ratio               3.25                  
Adjusted Rate               0.50%                  
Ratio of indebtedness to net capital minimum               1                  
Revolving Credit Facility [Member] | Base Rate [Member] | Debt Ratio Less Than Three Point Two Five [Member]                                  
Debt Instrument [Line Items]                                  
Adjusted Rate               0.25%                  
Revolving Credit Facility [Member] | Secured Debt [Member]                                  
Debt Instrument [Line Items]                                  
Secured debt ratio               4.50