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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Summary of 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

Summary of Changes in Gross Carrying Amount of Goodwill

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

Summary of Estimated Amortization Expense

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]

Summary of 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

Summary of Changes in Gross Carrying Amount of Goodwill

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

X

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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