Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

(6) Goodwill and Other Intangible Assets

The following is a summary of intangible assets at December 31, 2020 and 2019:

	Estimated		2020				2019
	Life (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Customer lists and contracts	7 — 10		$	645,739	$	563,135	$	641,714	$	539,405
Non-competition agreements	3 — 15			66,156		64,647		66,014		64,379
Site locations		15		2,412,745		1,593,805		2,384,520		1,509,335
Other	2 — 15			50,018		38,625		49,864		36,749
			$	3,174,658	$	2,260,212	$	3,142,112	$	2,149,868
Unamortizable Intangible Assets:
Goodwill			$	2,165,864	$	253,536	$	2,165,810	$	253,536

The changes in the gross carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows:

Balance as of December 31, 2018	$	2,172,922
Goodwill acquired during the year		29,360
Purchase price adjustments and other		(36,472	)
Impairment losses		—
Balance as of December 31, 2019	$	2,165,810
Goodwill acquired during the year		—
Purchase price adjustments and other		54
Impairment losses		—
Balance as of December 31, 2020	$	2,165,864

Amortization expense for the years ended December 31, 2020, 2019 and 2018 was $110,201, $113,679 and $95,010, respectively. The following is a summary of the estimated amortization expense for future years:

2021	$	106,816
2022		101,964
2023		91,133
2024		87,320
2025		83,959
Thereafter		443,254
Total	$	914,446

LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Goodwill and Other Intangible Assets

(3) Goodwill and Other Intangible Assets

The following is a summary of intangible assets at December 31, 2020 and 2019:

	Estimated		2020				2019
	Life (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets:
Customer lists and contracts	7—10		$	645,739	$	563,135	$	641,714	$	539,405
Non-competition agreement	3—15			66,156		64,647		66,014		64,379
Site locations		15		2,412,745		1,593,805		2,384,520		1,509,335
Other	2—15			49,472		38,547		49,318		36,671
			$	3,174,112	$	2,260,134	$	3,141,566	$	2,149,790
Unamortizable Intangible Assets:
Goodwill			$	2,154,844	$	252,667	$	2,154,790	$	252,667

The changes in the gross carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows:

Balance as of December 31, 2018	$	2,161,902
Goodwill acquired during the year		29,360
Purchase price adjustments and other		(36,472	)
Impairment losses		—
Balance as of December 31, 2019		2,154,790
Goodwill acquired during the year		—
Purchase price adjustments and other		54
Impairment losses		—
Balance as of December 31, 2020	$	2,154,844