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Summarized Financial Information of Subsidiaries (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | 12 Months Ended
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Dec. 31, 2020
Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet as of December 31, 2020 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total current assets |  | $ | 110,678 |  |  | $ | 19,471 |  |  | $ | 249,921 |  |  | $ | — |  |  | $ | 380,070 |
Net property, plant and equipment |  |  | — |  |  |  | 1,268,765 |  |  |  | 13,084 |  |  |  | — |  |  |  | 1,281,849 |
Operating lease right of use assets |  |  | — |  |  |  | 1,200,115 |  |  |  | 21,898 |  |  |  | — |  |  |  | 1,222,013 |
Intangibles and goodwill, net |  |  | — |  |  |  | 2,798,343 |  |  |  | 17,812 |  |  |  | — |  |  |  | 2,816,155 |
Other assets |  |  | 3,912,122 |  |  |  | 258,433 |  |  |  | 132,448 |  |  |  | (4,228,383 | ) |  |  | 74,620 |
Total assets |  | $ | 4,022,800 |  |  | $ | 5,545,127 |  |  | $ | 435,163 |  |  | $ | (4,228,383 | ) |  | $ | 5,774,707 |
LIABILITIES AND STOCKHOLDER'S EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt |  | $ | — |  |  | $ | 379 |  |  | $ | 122,055 |  |  | $ | — |  |  | $ | 122,434 |
Current operating lease liabilties |  |  | — |  |  |  | 188,712 |  |  |  | 6,727 |  |  |  | — |  |  |  | 195,439 |
Other current liabilities |  |  | 33,583 |  |  |  | 170,320 |  |  |  | 19,286 |  |  |  | — |  |  |  | 223,189 |
Total current liabilities |  |  | 33,583 |  |  |  | 359,411 |  |  |  | 148,068 |  |  |  | — |  |  |  | 541,062 |
Long-term debt |  |  | 2,761,705 |  |  |  | 2,377 |  |  |  | — |  |  |  | — |  |  |  | 2,764,082 |
Operating lease liabilities |  |  | — |  |  |  | 979,785 |  |  |  | 13,991 |  |  |  | — |  |  |  | 993,776 |
Other noncurrent liabilities |  |  | 34,668 |  |  |  | 245,891 |  |  |  | 266,968 |  |  |  | (264,584 | ) |  |  | 282,943 |
Total liabilities |  |  | 2,829,956 |  |  |  | 1,587,464 |  |  |  | 429,027 |  |  |  | (264,584 | ) |  |  | 4,581,863 |
Stockholders’ equity |  |  | 1,192,844 |  |  |  | 3,957,663 |  |  |  | 6,136 |  |  |  | (3,963,799 | ) |  |  | 1,192,844 |
Total liabilities and stockholders’ equity |  | $ | 4,022,800 |  |  | $ | 5,545,127 |  |  | $ | 435,163 |  |  | $ | (4,228,383 | ) |  | $ | 5,774,707 |
Condensed Consolidating Balance Sheet as of December 31, 2019 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total current assets |  | $ | 13,859 |  |  | $ | 53,756 |  |  | $ | 242,054 |  |  | $ | — |  |  | $ | 309,669 |
Net property, plant and equipment |  |  | — |  |  |  | 1,340,675 |  |  |  | 8,440 |  |  |  | — |  |  |  | 1,349,115 |
Operating lease right of use assets |  |  | — |  |  |  | 1,293,674 |  |  |  | 27,105 |  |  |  | — |  |  |  | 1,320,779 |
Intangibles and goodwill, net |  |  | — |  |  |  | 2,875,644 |  |  |  | 18,255 |  |  |  | — |  |  |  | 2,893,899 |
Other assets |  |  | 4,193,629 |  |  |  | 229,905 |  |  |  | 184,805 |  |  |  | (4,557,380 | ) |  |  | 50,959 |
Total assets |  | $ | 4,207,488 |  |  | $ | 5,793,654 |  |  | $ | 480,659 |  |  | $ | (4,557,380 | ) |  | $ | 5,924,421 |
LIABILITIES AND STOCKHOLDER'S EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt |  | $ | 51,480 |  |  | $ | 34 |  |  | $ | 175,000 |  |  | $ | — |  |  | $ | 226,514 |
Current operating lease liabilities |  |  | — |  |  |  | 189,071 |  |  |  | 7,770 |  |  |  | — |  |  |  | 196,841 |
Other current liabilities |  |  | 26,960 |  |  |  | 196,689 |  |  |  | 19,845 |  |  |  | — |  |  |  | 243,494 |
Total current liabilities |  |  | 78,440 |  |  |  | 385,794 |  |  |  | 202,615 |  |  |  | — |  |  |  | 666,849 |
Long-term debt |  |  | 2,753,570 |  |  |  | 34 |  |  |  | — |  |  |  | — |  |  |  | 2,753,604 |
Operating lease liabilities |  |  | — |  |  |  | 1,049,220 |  |  |  | 18,961 |  |  |  | — |  |  |  | 1,068,181 |
Other noncurrent liabilities |  |  | 205,947 |  |  |  | 231,416 |  |  |  | 250,859 |  |  |  | (421,966 | ) |  |  | 266,256 |
Total liabilities |  |  | 3,037,957 |  |  |  | 1,666,464 |  |  |  | 472,435 |  |  |  | (421,966 | ) |  |  | 4,754,890 |
Stockholders’ equity |  |  | 1,169,531 |  |  |  | 4,127,190 |  |  |  | 8,224 |  |  |  | (4,135,414 | ) |  |  | 1,169,531 |
Total liabilities and stockholders’ equity |  | $ | 4,207,488 |  |  | $ | 5,793,654 |  |  | $ | 480,659 |  |  | $ | (4,557,380 | ) |  | $ | 5,924,421 |
Condensed Consolidating Statements of Income and Comprehensive Income |
Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2020 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
Statement of Income |  |  |
Net revenues |  | $ | — |  |  | $ | 1,536,534 |  |  | $ | 33,965 |  |  | $ | (1,643 | ) |  | $ | 1,568,856 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct advertising expenses (1) |  |  | — |  |  |  | 533,803 |  |  |  | 25,501 |  |  |  | (1,643 | ) |  |  | 557,661 |
General and administrative expenses (1) |  |  | — |  |  |  | 281,293 |  |  |  | 6,581 |  |  |  | — |  |  |  | 287,874 |
Corporate expenses (1) |  |  | — |  |  |  | 69,478 |  |  |  | 979 |  |  |  | — |  |  |  | 70,457 |
Depreciation and amortization |  |  | — |  |  |  | 249,299 |  |  |  | 1,997 |  |  |  | — |  |  |  | 251,296 |
(Gain) loss on disposition of assets |  |  | — |  |  |  | (9,036 | ) |  |  | 10 |  |  |  | — |  |  |  | (9,026 | )
|  |  | — |  |  |  | 1,124,837 |  |  |  | 35,068 |  |  |  | (1,643 | ) |  |  | 1,158,262 |
Operating income |  |  | — |  |  |  | 411,697 |  |  |  | (1,103 | ) |  |  | — |  |  |  | 410,594 |
Loss on debt extinguishment |  |  | 25,235 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 25,235 |
Equity in (earnings) loss of subsidiaries |  |  | (404,332 | ) |  |  | — |  |  |  | — |  |  |  | 404,332 |  |  |  | — |
Interest expense (income), net |  |  | 135,224 |  |  |  | (175 | ) |  |  | 1,777 |  |  |  | — |  |  |  | 136,826 |
Income (loss) before income tax expense |  |  | 243,873 |  |  |  | 411,872 |  |  |  | (2,880 | ) |  |  | (404,332 | ) |  |  | 248,533 |
Income tax expense (benefit)(2) |  |  | — |  |  |  | 5,203 |  |  |  | (543 | ) |  |  | — |  |  |  | 4,660 |
Net income (loss) |  | $ | 243,873 |  |  | $ | 406,669 |  |  | $ | (2,337 | ) |  | $ | (404,332 | ) |  | $ | 243,873 |
Statement of Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 243,873 |  |  | $ | 406,669 |  |  | $ | (2,337 | ) |  | $ | (404,332 | ) |  | $ | 243,873 |
Total other comprehensive income, net of tax |  |  | — |  |  |  | — |  |  |  | 249 |  |  |  | — |  |  |  | 249 |
Total comprehensive income (loss) |  | $ | 243,873 |  |  | $ | 406,669 |  |  | $ | (2,088 | ) |  | $ | (404,332 | ) |  | $ | 244,122 |
(1) Caption is exclusive of depreciation and amortization. |
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. |
Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2019 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
Statement of Income |  |  |
Net revenues |  | $ | — |  |  | $ | 1,709,691 |  |  | $ | 46,804 |  |  | $ | (2,851 | ) |  | $ | 1,753,644 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct advertising expenses (1) |  |  | — |  |  |  | 564,877 |  |  |  | 28,052 |  |  |  | (2,851 | ) |  |  | 590,078 |
General and administrative expenses (1) |  |  | — |  |  |  | 310,813 |  |  |  | 7,567 |  |  |  | — |  |  |  | 318,380 |
Corporate expenses (1) |  |  | — |  |  |  | 82,652 |  |  |  | 1,577 |  |  |  | — |  |  |  | 84,229 |
Depreciation and amortization |  |  | — |  |  |  | 247,191 |  |  |  | 2,837 |  |  |  | — |  |  |  | 250,028 |
Gain on disposition of assets |  |  | — |  |  |  | (3,103 | ) |  |  | (4,138 | ) |  |  | — |  |  |  | (7,241 | )
|  |  | — |  |  |  | 1,202,430 |  |  |  | 35,895 |  |  |  | (2,851 | ) |  |  | 1,235,474 |
Operating income |  |  | — |  |  |  | 507,261 |  |  |  | 10,909 |  |  |  | — |  |  |  | 518,170 |
Equity in (earnings) loss of subsidiaries |  |  | (517,516 | ) |  |  | — |  |  |  | — |  |  |  | 517,516 |  |  |  | — |
Interest expense (income), net |  |  | 144,976 |  |  |  | (149 | ) |  |  | 5,025 |  |  |  | — |  |  |  | 149,852 |
Income (loss) before income tax expense |  |  | 372,540 |  |  |  | 507,410 |  |  |  | 5,884 |  |  |  | (517,516 | ) |  |  | 368,318 |
Income tax (benefit) expense (2) |  |  | — |  |  |  | (7,360 | ) |  |  | 3,138 |  |  |  | — |  |  |  | (4,222 | )
Net income (loss) |  | $ | 372,540 |  |  | $ | 514,770 |  |  | $ | 2,746 |  |  | $ | (517,516 | ) |  | $ | 372,540 |
Statement of Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 372,540 |  |  | $ | 514,770 |  |  | $ | 2,746 |  |  | $ | (517,516 | ) |  | $ | 372,540 |
Total other comprehensive income, net of tax |  |  | — |  |  |  | — |  |  |  | 673 |  |  |  | — |  |  |  | 673 |
Total comprehensive income (loss) |  | $ | 372,540 |  |  | $ | 514,770 |  |  | $ | 3,419 |  |  | $ | (517,516 | ) |  | $ | 373,213 |
(1) Caption is exclusive of depreciation and amortization. |
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. |
Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2018 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
Statement of Income |  |  |
Net revenues |  | $ | — |  |  | $ | 1,579,619 |  |  | $ | 50,352 |  |  | $ | (2,749 | ) |  | $ | 1,627,222 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct advertising expenses (1) |  |  | — |  |  |  | 537,269 |  |  |  | 27,307 |  |  |  | (2,728 | ) |  |  | 561,848 |
General and administrative expenses (1) |  |  | — |  |  |  | 280,874 |  |  |  | 8,554 |  |  |  | — |  |  |  | 289,428 |
Corporate expenses (1) |  |  | — |  |  |  | 80,861 |  |  |  | 1,636 |  |  |  | — |  |  |  | 82,497 |
Depreciation and amortization |  |  | — |  |  |  | 219,341 |  |  |  | 5,920 |  |  |  | — |  |  |  | 225,261 |
(Gain) loss on disposition of assets |  |  | — |  |  |  | (576 | ) |  |  | 7,809 |  |  |  | — |  |  |  | 7,233 |
|  |  | — |  |  |  | 1,117,769 |  |  |  | 51,226 |  |  |  | (2,728 | ) |  |  | 1,166,267 |
Operating income (loss) |  |  | — |  |  |  | 461,850 |  |  |  | (874 | ) |  |  | (21 | ) |  |  | 460,955 |
Equity in (earnings) loss of subsidiaries |  |  | (450,791 | ) |  |  | — |  |  |  | — |  |  |  | 450,791 |  |  |  | — |
Interest expense (income), net |  |  | 129,731 |  |  |  | (99 | ) |  |  | (413 | ) |  |  | (21 | ) |  |  | 129,198 |
Other expenses |  |  | 15,429 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 15,429 |
Income (loss) before income tax expense |  |  | 305,631 |  |  |  | 461,949 |  |  |  | (461 | ) |  |  | (450,791 | ) |  |  | 316,328 |
Income tax expense (2) |  |  | — |  |  |  | 7,879 |  |  |  | 2,818 |  |  |  | — |  |  |  | 10,697 |
Net income (loss) |  | $ | 305,631 |  |  | $ | 454,070 |  |  | $ | (3,279 | ) |  | $ | (450,791 | ) |  | $ | 305,631 |
Statement of Comprehensive Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 305,631 |  |  | $ | 454,070 |  |  | $ | (3,279 | ) |  | $ | (450,791 | ) |  | $ | 305,631 |
Total other comprehensive loss, net of tax |  |  | — |  |  |  | — |  |  |  | (1,290 | ) |  |  | — |  |  |  | (1,290 | )
Total comprehensive income (loss) |  | $ | 305,631 |  |  | $ | 454,070 |  |  | $ | (4,569 | ) |  | $ | (450,791 | ) |  | $ | 304,341 |
(1) Caption is exclusive of depreciation and amortization. |
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. |
Condensed Consolidating Statements of Cash Flows |
Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2020 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 495,872 |  |  | $ | 668,673 |  |  | $ | (5,639 | ) |  | $ | (619,877 | ) |  | $ | 539,029 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | — |  |  |  | (56,772 | ) |  |  | (5,500 | ) |  |  | — |  |  |  | (62,272 | )
Acquisitions |  |  | 577 |  |  |  | (46,161 | ) |  |  | — |  |  |  | — |  |  |  | (45,584 | )
Proceeds from disposition of assets and investments |  |  | — |  |  |  | 10,968 |  |  |  | — |  |  |  | — |  |  |  | 10,968 |
Investment in subsidiaries |  |  | (46,161 | ) |  |  | — |  |  |  | — |  |  |  | 46,161 |  |  |  | — |
Increease in intercompany notes receivable |  |  | (60,183 | ) |  |  | — |  |  |  | — |  |  |  | 60,183 |  |  |  | — |
Increase in notes receivable |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Net cash (used in) provided by investing activities |  |  | (105,767 | ) |  |  | (91,965 | ) |  |  | (5,500 | ) |  |  | 106,344 |  |  |  | (96,888 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds received from revolving credit facility |  |  | 725,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 725,000 |
Payment on revolving credit facility |  |  | (875,000 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (875,000 | )
Principal payments on long term debt |  |  | — |  |  |  | (9,112 | ) |  |  | — |  |  |  | — |  |  |  | (9,112 | )
Borrowings on long term debt |  |  | — |  |  |  | 8,750 |  |  |  | — |  |  |  | — |  |  |  | 8,750 |
Proceeds received from note offering |  |  | 1,549,250 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,549,250 |
Redemption of senior notes and senior subordinated notes |  |  | (1,058,596 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,058,596 | )
Proceeds received from senior credit facility term loans |  |  | 598,500 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 598,500 |
Payments on senior credit facility term loans |  |  | (978,097 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (978,097 | )
Payment on accounts receivable securitization program |  |  | — |  |  |  | — |  |  |  | (175,000 | ) |  |  | — |  |  |  | (175,000 | )
Proceeds received from accounts receivable securitization program |  |  | — |  |  |  | — |  |  |  | 122,500 |  |  |  | — |  |  |  | 122,500 |
Debt issuance costs |  |  | (32,950 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (32,950 | )
Intercompany loan proceeds |  |  | — |  |  |  | (9,176 | ) |  |  | 69,359 |  |  |  | (60,183 | ) |  |  | — |
Distributions to non-controlling interest |  |  | — |  |  |  | — |  |  |  | (1,509 | ) |  |  | — |  |  |  | (1,509 | )
Dividends (to) from parent |  |  | (262,437 | ) |  |  | (619,877 | ) |  |  | — |  |  |  | 619,877 |  |  |  | (262,437 | )
Contributions from (to) parent |  |  | 41,628 |  |  |  | 46,161 |  |  |  | — |  |  |  | (46,161 | ) |  |  | 41,628 |
Net cash (used in) provided by financing activities |  |  | (292,702 | ) |  |  | (583,254 | ) |  |  | 15,350 |  |  |  | 513,533 |  |  |  | (347,073 | )
Effect of exchange rate changes in cash and cash equivalents |  |  | — |  |  |  | — |  |  |  | 313 |  |  |  | — |  |  |  | 313 |
Net increase in cash and cash equivalents |  |  | 97,403 |  |  |  | (6,546 | ) |  |  | 4,524 |  |  |  | — |  |  |  | 95,381 |
Cash and cash equivalents at beginning of period |  |  | 13,185 |  |  |  | 8,278 |  |  |  | 4,225 |  |  |  | — |  |  |  | 25,688 |
Cash and cash equivalents at end of period |  | $ | 110,588 |  |  | $ | 1,732 |  |  | $ | 8,749 |  |  | $ | — |  |  | $ | 121,069 |
Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2019 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 469,907 |  |  | $ | 738,030 |  |  | $ | 6,660 |  |  | $ | (609,657 | ) |  | $ | 604,940 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Capital expenditures |  |  | — |  |  |  | (136,696 | ) |  |  | (4,260 | ) |  |  | — |  |  |  | (140,956 | )
Acquisitions |  |  | — |  |  |  | (226,278 | ) |  |  | — |  |  |  | — |  |  |  | (226,278 | )
Proceeds from disposition of assets and investments |  |  | — |  |  |  | 5,438 |  |  |  | — |  |  |  | — |  |  |  | 5,438 |
Proceeds received from insurance claims |  |  | — |  |  |  | 210 |  |  |  | — |  |  |  | — |  |  |  | 210 |
Investment in subsidiaries |  |  | (226,278 | ) |  |  | — |  |  |  | — |  |  |  | 226,278 |  |  |  | — |
Decrease in intercompany notes receivable |  |  | 3,787 |  |  |  | — |  |  |  | — |  |  |  | (3,787 | ) |  |  | — |
Increase in notes receivable |  |  | (448 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (448 | )
Net cash (used in) provided by investing activities |  |  | (222,939 | ) |  |  | (357,326 | ) |  |  | (4,260 | ) |  |  | 222,491 |  |  |  | (362,034 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds received from revolving credit facility |  |  | 495,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 495,000 |
Payment on revolving credit facility |  |  | (625,000 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (625,000 | )
Principal payments on long-term debt |  |  | (34,471 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (34,471 | )
Proceeds received from accounts receivable securitization program |  |  | — |  |  |  | — |  |  |  | 9,000 |  |  |  | — |  |  |  | 9,000 |
Payments on accounts receivable securitization program |  |  | — |  |  |  | — |  |  |  | (9,000 | ) |  |  | — |  |  |  | (9,000 | )
Debt issuance costs |  |  | (4,463 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,463 | )
Proceeds received from note offering |  |  | 255,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 255,000 |
Intercompany loan proceeds (payments) |  |  | — |  |  |  | (702 | ) |  |  | (3,085 | ) |  |  | 3,787 |  |  |  | — |
Distributions to non-controlling interest |  |  | — |  |  |  | — |  |  |  | (621 | ) |  |  | — |  |  |  | (621 | )
Dividends (to) from parent |  |  | (393,700 | ) |  |  | (609,657 | ) |  |  | — |  |  |  | 609,657 |  |  |  | (393,700 | )
Contributions from (to) parent |  |  | 69,822 |  |  |  | 226,278 |  |  |  | — |  |  |  | (226,278 | ) |  |  | 69,822 |
Net cash (used in) provided by financing activities |  |  | (237,812 | ) |  |  | (384,081 | ) |  |  | (3,706 | ) |  |  | 387,166 |  |  |  | (238,433 | )
Effect of exchange rate changes in cash and cash equivalents |  |  | — |  |  |  | — |  |  |  | 221 |  |  |  | — |  |  |  | 221 |
Net increase in cash and cash equivalents |  |  | 9,156 |  |  |  | (3,377 | ) |  |  | (1,085 | ) |  |  | — |  |  |  | 4,694 |
Cash and cash equivalents at beginning of period |  |  | 4,029 |  |  |  | 11,655 |  |  |  | 5,310 |  |  |  | — |  |  |  | 20,994 |
Cash and cash equivalents at end of period |  | $ | 13,185 |  |  | $ | 8,278 |  |  | $ | 4,225 |  |  | $ | — |  |  | $ | 25,688 |
Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2018 |
|  | Lamar Media Corp. |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Lamar Media Consolidated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 430,896 |  |  | $ | 689,718 |  |  | $ | (17,143 | ) |  | $ | (566,386 | ) |  | $ | 537,085 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisitions |  |  | — |  |  |  | (477,389 | ) |  |  | — |  |  |  | — |  |  |  | (477,389 | )
Capital expenditures |  |  | — |  |  |  | (113,259 | ) |  |  | (4,379 | ) |  |  | — |  |  |  | (117,638 | )
Proceeds from disposition of assets and investments |  |  | — |  |  |  | 3,839 |  |  |  | 2,809 |  |  |  | — |  |  |  | 6,648 |
Proceeds received from insurance claims |  |  | — |  |  |  | — |  |  |  | 4,222 |  |  |  | — |  |  |  | 4,222 |
Investment in subsidiaries |  |  | (498,226 | ) |  |  | — |  |  |  | — |  |  |  | 498,226 |  |  |  | — |
Decrease in intercompany notes receivable |  |  | 30,034 |  |  |  | — |  |  |  | — |  |  |  | (30,034 | ) |  |  | — |
Decrease in notes receivable |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |
Net cash (used in) provided by investing activities |  |  | (468,183 | ) |  |  | (586,809 | ) |  |  | 2,652 |  |  |  | 468,192 |  |  |  | (584,148 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds received from revolving credit facility |  |  | 563,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 563,000 |
Payment on revolving credit facility |  |  | (481,000 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (481,000 | )
Principal payments on long-term debt |  |  | (27,297 | ) |  |  | (31 | ) |  |  | — |  |  |  | — |  |  |  | (27,328 | )
Proceeds received from senior credit facility term loans |  |  | 599,250 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 599,250 |
Proceeds received from accounts receivable securitization program |  |  | — |  |  |  | — |  |  |  | 175,000 |  |  |  | — |  |  |  | 175,000 |
Debt issuance costs |  |  | (7,616 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (7,616 | )
Redemption on senior subordinated notes |  |  | (509,790 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (509,790 | )
Intercompany loan proceeds (payments) |  |  | 175,000 |  |  |  | (24,688 | ) |  |  | (180,346 | ) |  |  | 30,034 |  |  |  | — |
Distributions to non-controlling interest |  |  | — |  |  |  | — |  |  |  | (541 | ) |  |  | — |  |  |  | (541 | )
Contributions from (to) parent |  |  | 89,967 |  |  |  | 498,226 |  |  |  | — |  |  |  | (498,226 | ) |  |  | 89,967 |
Dividends (to) from parent |  |  | (446,744 | ) |  |  | (566,386 | ) |  |  | — |  |  |  | 566,386 |  |  |  | (446,744 | )
Net cash (used in) provided by financing activities |  |  | (45,230 | ) |  |  | (92,879 | ) |  |  | (5,887 | ) |  |  | 98,194 |  |  |  | (45,802 | )
Effect of exchange rate changes in cash and cash equivalents |  |  | — |  |  |  | — |  |  |  | (1,112 | ) |  |  | — |  |  |  | (1,112 | )
Net increase in cash and cash equivalents |  |  | (82,517 | ) |  |  | 10,030 |  |  |  | (21,490 | ) |  |  | — |  |  |  | (93,977 | )
Cash and cash equivalents at beginning of period |  |  | 86,546 |  |  |  | 1,625 |  |  |  | 26,800 |  |  |  | — |  |  |  | 114,971 |
Cash and cash equivalents at end of period |  | $ | 4,029 |  |  | $ | 11,655 |  |  | $ | 5,310 |  |  | $ | — |  |  | $ | 20,994 |

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