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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Allowance For Doubtful Accounts | A rollforward of the allowance for doubtful accounts is as follows:
(in thousands) |  |
January 1, 2022 |  | $ | 4,256 |
Charged to costs and expenses |  | 1,674 |
Amounts charged off, net |  | (967) |
Balance as of December 31, 2022 |  | 4,963 |
Charged to costs and expenses |  | 14,786 |
Amounts charged off, net |  | (14,708) |
Balance as of December 31, 2023 |  | 5,041 |
Charged to costs and expenses |  | 15,875 |
Amounts charged off, net |  | (13,467) |
Balance as of December 31, 2024 |  | $ | 7,449 |
Estimated Useful Lives of Property and Equipment | We compute depreciation using the straight-line method over estimated useful lives as follows:
Buildings and improvements | 15 to 45 years
Leasehold improvements | Shorter of term of lease or useful life
Broadcast transmission towers and related equipment | 15 to 35 years
Other broadcast and program production equipment | 3 to 15 years
Computer hardware | 3 to 5 years
Office and other equipment | 3 to 10 years
Property and equipment consisted of the following:
|  | As of December 31,
(in thousands) |  | 2024 |  | 2023
Land and improvements |  | $ | 65,212 |  |  | $ | 65,402 |
Buildings and improvements |  | 275,844 |  |  | 252,396 |
Equipment |  | 646,684 |  |  | 622,981 |
Computer software |  | 33,389 |  |  | 30,395 |
Total |  | 1,021,129 |  |  | 971,174 |
Accumulated depreciation |  | (567,229) |  |  | (515,919) |
Net property and equipment |  | $ | 453,900 |  |  | $ | 455,255 |
Schedule of Components of Basic and Diluted Weighted-average Shares | The following table presents information about basic and diluted weighted-average shares outstanding:
|  | For the years ended December 31,
(in thousands) |  | 2024 |  | 2023 |  | 2022
Numerator (for basic and diluted earnings per share) |  |  |  |  |  |
Net income (loss) |  | $ | 146,218 |  |  | $ | (947,784) |  |  | $ | 195,902 |
Less income allocated to RSUs |  | (709) |  |  | — |  |  | (3,662) |
Less preferred stock dividends |  | (58,615) |  |  | (50,305) |  |  | (50,305) |
Numerator for basic and diluted earnings per share |  | $ | 86,894 |  |  | $ | (998,089) |  |  | $ | 141,935 |
Denominator |  |  |  |  |  |
Basic weighted-average shares outstanding |  | 85,738 |  |  | 84,266 |  |  | 83,220 |
Effect of dilutive securities |  | 329 |  |  | — |  |  | 4,126 |
Diluted weighted-average shares outstanding |  | 86,067 |  |  | 84,266 |  |  | 87,346 |

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