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Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended
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Dec. 31, 2020
Schedule III - Real Estate and Accumulated Depreciation | 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, |  |  | December 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 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 | 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

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- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 28 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024 + Details
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