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Segment Reporting (Subsidiary) (Tables) | 3 Months Ended
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Mar. 31, 2025
Condensed Income Statements, Captions [Line Items] |
Schedule of Reconciliation of Net Income to Adjusted EBITDA | The following table presents our financial performance by segment:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Net revenues: |  |  |  |  |  |  |
Billboard |  |  |  |  | $ | 444,897 |  |  | $ | 439,385 |
Other |  |  |  |  | 60,533 |  |  | 58,765 |
Total net revenues |  |  |  |  | $ | 505,430 |  |  | $ | 498,150 |
Advertising expenses: |  |  |  |  |  |  |
Billboard |  |  |  |  | $ | 216,931 |  |  | $ | 209,903 |
Other |  |  |  |  | 51,892 |  |  | 49,021 |
Total advertising expenses |  |  |  |  | $ | 268,823 |  |  | $ | 258,924 |
Segmented adjusted EBITDA: |  |  |  |  |  |  |
Billboard adjusted EBITDA |  |  |  |  | $ | 227,966 |  |  | $ | 229,482 |
Other adjusted EBITDA |  |  |  |  | 8,641 |  |  | 9,744 |
Corporate expenses (1) |  |  |  |  | (26,386) |  |  | (27,304) |
Adjusted EBITDA |  |  |  |  | $ | 210,221 |  |  | $ | 211,922 |
(1)Corporate operations are not an operating segment. Corporate expenses include expenses related to infrastructure and support, including information technology, human resources, legal, finance and administrative functions of the Company, as well as overall executive, administrative and support functions. Reconciliation of adjusted EBITDA to income before income tax expense:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Adjusted EBITDA |  |  |  |  | $ | 210,221 |  |  | $ | 211,922 |
Stock-based compensation expense |  |  |  |  | (10,577) |  |  | (14,466) |
Capitalized contract fulfillment costs, net |  |  |  |  | (375) |  |  | 184 |
Depreciation and amortization |  |  |  |  | (77,821) |  |  | (75,228) |
Gain on disposition of assets and investments |  |  |  |  | 69,785 |  |  | 2,188 |
Equity in earnings (loss) of investee |  |  |  |  | 380 |  |  | (559) |
Interest expense, net |  |  |  |  | (37,840) |  |  | (44,020) |
Income before income tax expense |  |  |  |  | $ | 153,773 |  |  | $ | 80,021 |
LAMAR MEDIA CORP. AND SUBSIDIARIES |
Condensed Income Statements, Captions [Line Items] |
Schedule of Reconciliation of Net Income to Adjusted EBITDA | The following table presents our financial performance by segment:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Net revenues: |  |  |  |  |  |  |
Billboard |  |  |  |  | $ | 444,897 |  |  | $ | 439,385 |
Other |  |  |  |  | 60,533 |  |  | 58,765 |
Total net revenues |  |  |  |  | $ | 505,430 |  |  | $ | 498,150 |
Advertising expenses: |  |  |  |  |  |  |
Billboard |  |  |  |  | $ | 216,931 |  |  | $ | 209,903 |
Other |  |  |  |  | 51,892 |  |  | 49,022 |
Total advertising expenses |  |  |  |  | $ | 268,823 |  |  | $ | 258,925 |
Segmented adjusted EBITDA: |  |  |  |  |  |  |
Billboard adjusted EBITDA |  |  |  |  | $ | 227,966 |  |  | $ | 229,483 |
Other adjusted EBITDA |  |  |  |  | 8,641 |  |  | 9,743 |
Corporate expenses (1) |  |  |  |  | (26,277) |  |  | (27,166) |
Adjusted EBITDA |  |  |  |  | $ | 210,330 |  |  | $ | 212,060 |
(1)Corporate operations are not an operating segment. Corporate expenses include expenses related to infrastructure and support, including information technology, human resources, legal, finance and administrative functions of the Company, as well as overall executive, administrative and support functions. Reconciliation of adjusted EBITDA to income before income tax expense:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Adjusted EBITDA |  |  |  |  | $ | 210,330 |  |  | $ | 212,060 |
Stock-based compensation expense |  |  |  |  | (10,577) |  |  | (14,466) |
Capitalized contract fulfillment costs, net |  |  |  |  | (375) |  |  | 184 |
Depreciation and amortization |  |  |  |  | (77,821) |  |  | (75,228) |
Gain on disposition of assets and investments |  |  |  |  | 69,785 |  |  | 2,188 |
Equity in earnings (loss) of investee |  |  |  |  | 380 |  |  | (559) |
Interest expense, net |  |  |  |  | (37,840) |  |  | (44,020) |
Income before income tax expense |  |  |  |  | $ | 153,882 |  |  | $ | 80,159 |

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph a -Publisher SEC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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