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Property and Equipment | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment | 7. PROPERTY AND EQUIPMENT Property and equipment as of December 31, 2024 and 2023 consists of (in millions):
|  | Estimated useful life (years) |  |  |  | 2024 |  |  |  | 2023 |
Buildings |  | 40 |  |  | $ | 18.5 |  |  | $ | 18.5 |
Construction in progress |  |  | — |  |  |  | 2.9 |  |  |  | 4.1 |
Transmission, studio and other broadcast equipment |  | 5-15 |  |  |  | 115.0 |  |  |  | 152.5 |
Office and computer equipment |  | 3-7 |  |  |  | 41.6 |  |  |  | 42.8 |
Transportation equipment |  | 5 |  |  |  | 3.5 |  |  |  | 3.9 |
Leasehold improvements and land improvements |  | Lesser of lease life or useful life |  |  |  | 26.9 |  |  |  | 28.0 |
|  |  |  |  |  | 208.4 |  |  |  | 249.8 |
Less accumulated depreciation |  |  |  |  |  | (154.9 | ) |  |  | (189.7 | )
|  |  |  |  |  | 53.5 |  |  |  | 60.1 |
Land |  |  |  |  |  | 7.1 |  |  |  | 6.8 |
|  |  |  |  | $ | 60.6 |  |  | $ | 66.9 |
Depreciation expe nse was $14.1 million, $13.3 million, and $12.5 million for the years ended December 31, 2024, 2023 and 2022, respectively. As part of the FCC auction for broadcast spectrum that conc luded in 2017, the FCC has reassigned some stations to new post-auction channels and will reimburse station owners for the cost of the relocation. The Company received notification from the FCC that 17 of its stations have been assigned to new channels with an estimated reimbursable cost of approximately $16.0 million. The Company did no t have gains on involuntary conversion associated with the repack process in 2024 and 2023, and recorded gains of $0.2 million in 2022, which are presented as other operating gain in the Consolidated Statements of O perations.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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