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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2010	Feb. 18, 2011	Jun. 30, 2010
Statement [Line Items]
Entity Registrant Name	LAMAR ADVERTISING CO/NEW
Entity Central Index Key	0001090425
Document Type	10-K
Document Period End Date	Dec. 31, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,402,344,358
LAMAR MEDIA CORP
Statement [Line Items]
Entity Registrant Name	LAMAR MEDIA CORP/DE
Entity Central Index Key	0000899045
Document Type	10-K
Document Period End Date	Dec. 31, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		100
Class A CMN Stock
Statement [Line Items]
Entity Common Stock, Shares Outstanding		77,486,437
Class B CMN Stock
Statement [Line Items]
Entity Common Stock, Shares Outstanding		15,122,865

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2010	Dec. 31, 2009
Current assets:
Cash and cash equivalents	$ 91,679	$ 112,253
Receivables, net of allowance for doubtful accounts of $8,100 and $9,550 in 2010 and 2009	141,166	142,518
Prepaid expenses	40,046	40,588
Deferred income tax assets	9,241	13,523
Other current assets	27,277	59,054
Total current assets	309,409	367,936
Property, plant and equipment	2,796,935	2,828,726
Less accumulated depreciation and amortization	(1,539,484)	(1,421,815)
Net property, plant and equipment	1,257,451	1,406,911
Goodwill	1,426,135	1,424,283
Intangible assets, net	569,723	670,501
Deferred financing costs net of accumulated amortization	43,170	32,613
Other assets	43,073	41,297
Total assets	3,648,961	3,943,541
Current liabilities:
Trade accounts payable	13,208	10,678
Current maturities of long-term debt	5,694	121,282
Accrued expenses	96,542	95,616
Deferred income	38,136	36,131
Total current liabilities	153,580	263,707
Long-term debt	2,403,446	2,553,630
Deferred income tax liabilities	87,234	116,130
Asset retirement obligation	173,673	160,260
Other liabilities	12,505	18,016
Total liabilities	2,830,438	3,111,743
Stockholders' equity:
Additional paid-in capital	2,389,125	2,361,166
Accumulated comprehensive income	6,110	5,248
Accumulated deficit	(691,784)	(651,317)
Cost of shares held in treasury, 16,998,850 and 16,945,253 shares in 2010 and 2009, respectively	885,037	883,408
Stockholders' equity	818,523	831,798
Total liabilities and stockholders' equity	3,648,961	3,943,541
Class A CMN Stock
Stockholders' equity:
Common stock	94	94
Stockholders' equity	94	94
Class B CMN Stock
Stockholders' equity:
Common stock	15	15
Stockholders' equity	15	15
Class A PREF Stock
Stockholders' equity:
Preferred stock	0	0
Series AA Preferred Stock
Stockholders' equity:
Preferred stock	0	0
LAMAR MEDIA CORP
Current assets:
Cash and cash equivalents	88,565	105,306
Receivables, net of allowance for doubtful accounts of $8,100 and $9,550 in 2010 and 2009	141,166	142,518
Prepaid expenses	40,046	40,588
Deferred income tax assets	9,241	13,523
Other current assets	20,391	52,251
Total current assets	299,409	354,186
Property, plant and equipment	2,796,935	2,828,726
Less accumulated depreciation and amortization	(1,539,484)	(1,421,815)
Net property, plant and equipment	1,257,451	1,406,911
Goodwill	1,415,983	1,414,131
Intangible assets, net	569,189	669,938
Deferred financing costs net of accumulated amortization	41,218	30,660
Other assets	37,787	36,012
Total assets	3,621,037	3,911,838
Current liabilities:
Trade accounts payable	13,208	10,678
Current maturities of long-term debt	5,694	118,009
Accrued expenses	85,803	84,877
Deferred income	38,136	36,131
Total current liabilities	142,841	249,695
Long-term debt	2,403,446	2,553,630
Deferred income tax liabilities	120,083	148,765
Asset retirement obligation	173,673	160,260
Other liabilities	12,505	18,016
Total liabilities	2,852,548	3,130,366
Stockholders' equity:
Common stock	0	0
Additional paid-in capital	2,562,765	2,534,783
Accumulated comprehensive income	6,110	5,248
Accumulated deficit	(1,800,386)	(1,758,559)
Stockholders' equity	768,489	781,472
Total liabilities and stockholders' equity	$ 3,621,037	$ 3,911,838

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2010	Dec. 31, 2009
Current assets:
Allowance for doubtful accounts	$ 8,100,000	$ 9,550,000
Accumulated amortization	$ 20,221,000	$ 37,880,000
Stockholders' equity:
Shares held in treasury	16,998,850	16,945,253
Class A CMN Stock
Stockholders' equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	175,000,000	175,000,000
Common stock, shares issued	94,483,412	93,742,080
Common stock, shares outstanding	77,484,562	76,796,827
Class B CMN Stock
Stockholders' equity:
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	37,500,000	37,500,000
Common stock, shares issued	15,122,865	15,172,865
Common stock, shares outstanding	15,122,865	15,172,865
Class A PREF Stock
Stockholders' equity:
Preferred stock, par value	$ 638	$ 638
Preferred stock, cumulative dividends	$ 63.8	$ 63.8
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series AA Preferred Stock
Stockholders' equity:
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, cumulative dividends	$ 63.8	$ 63.8
Preferred stock, shares authorized	5,720	5,720
Preferred stock, shares issued	5,720	5,720
Preferred stock, shares outstanding	5,720	5,720
LAMAR MEDIA CORP
Current assets:
Allowance for doubtful accounts	$ 8,100,000	$ 9,550,000
Accumulated amortization	10,933,000	28,592,000
Stockholders' equity:
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000	3,000
Common stock, shares issued	100	100
Common stock, shares outstanding	100	100

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Statement [Line Items]
Net revenues	$ 1,092,291	$ 1,056,065	$ 1,198,419
Operating expenses (income):
Direct advertising expenses (exclusive of depreciation and amortization)	398,467	397,725	437,660
General and administrative expenses (exclusive of depreciation and amortization)	199,136	186,733	207,321
Corporate expenses (exclusive of depreciation and amortization)	47,377	42,690	50,300
Depreciation and amortization	312,703	336,725	331,654
Gain on disposition of assets	(4,900)	(5,424)	(7,363)
Total Operating Expenses	952,783	958,449	1,019,572
Operating income	139,508	97,616	178,847
Other expense (income):
Loss (gain) on extinguishment of debt	17,398	(3,320)
Gain on disposition of investment		(1,445)	(1,814)
Interest income	(367)	(527)	(1,202)
Interest expense	186,048	197,047	170,352
Non-operating Expenses (Income)	203,079	191,755	167,336
(Loss) income before income tax expense	(63,571)	(94,139)	11,511
Income tax (benefit) expense	(23,469)	(36,101)	9,349
Net (loss) income	(40,102)	(58,038)	2,162
Preferred stock dividends	365	365	365
Net (loss) income applicable to common stock	$ (40,467)	$ (58,403)	$ 1,797
(Loss) earnings per share:
Basic (loss) earnings per share	$ (0.44)	$ (0.64)	$ 0.02
Diluted (loss) earnings per share	(0.44)	$ (0.64)	$ 0.02
Cash dividends declared per share of common stock
Weighted average common shares outstanding	92,261,157	91,730,109	92,125,660
Incremental common shares from dilutive stock options			181,180
Incremental common shares from convertible debt
Weighted average common shares assuming dilution	92,261,157	91,730,109	92,306,840
LAMAR MEDIA CORP
Statement [Line Items]
Net revenues	$ 1,092,291	$ 1,056,065	$ 1,198,419
Operating expenses (income):
Direct advertising expenses (exclusive of depreciation and amortization)	398,467	397,725	437,660
General and administrative expenses (exclusive of depreciation and amortization)	199,136	186,733	207,321
Corporate expenses (exclusive of depreciation and amortization)	47,377	42,265	49,398
Depreciation and amortization	312,703	336,725	331,654
Gain on disposition of assets	(4,900)	(5,424)	(7,363)
Total Operating Expenses	952,783	958,024	1,018,670
Operating income	139,508	98,041	179,749
Other expense (income):
Loss (gain) on extinguishment of debt	17,402
Gain on disposition of investment		(1,445)	(1,814)
Interest income	(358)	(462)	(1,202)
Interest expense	185,875	191,917	157,918
Non-operating Expenses (Income)	202,919	190,010	154,902
(Loss) income before income tax expense	(63,411)	(91,969)	24,847
Income tax (benefit) expense	(23,213)	(36,146)	14,487
Net (loss) income	$ (40,198)	$ (55,823)	$ 10,360

Consolidated Statements of Stockholders' Equity and Comprehensive Income (Deficit) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Statement [Line Items]
Stockholders' equity, beginning balance	$ 831,798	$ 870,618	$ 947,497
Non-cash compensation	17,839	12,462	9,005
Exercise of shares of stock options	6,803	1,938	7,802
Issuance of shares of common stock through employee purchase plan	3,356	2,902	3,379
Tax shortfall related to options exercised	(16)	25	4,415
Purchase of shares of treasury stock	(1,629)	(44)	(93,390)
Payment on convertible notes	(23)	(4,014)
Conversion of 200,000 shares and 50,000 shares in 2008 and 2010 respectively of Class B common stock to Class A common stock
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Foreign currency translation	862	2,500	(6,252)
Change in unrealized loss on hedging transaction,net of tax		3,814	(3,635)
Net (loss) income	(40,102)	(58,038)	2,162
Comprehensive loss	(39,240)	(51,724)	(7,725)
Dividends ($63.80 per preferred share)	(365)	(365)	(365)
Stockholders' equity, ending balance	818,523	831,798	870,618
Treasury Stock
Statement [Line Items]
Stockholders' equity, beginning balance	(883,408)	(883,364)	(789,974)
Purchase of shares of treasury stock	(1,629)	(44)	(93,390)
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Stockholders' equity, ending balance	(885,037)	(883,408)	(883,364)
Add'I Paid in Capital
Statement [Line Items]
Stockholders' equity, beginning balance	2,361,166	2,347,854	2,323,253
Non-cash compensation	17,839	12,462	9,005
Exercise of shares of stock options	6,803	1,937	7,802
Issuance of shares of common stock through employee purchase plan	3,356	2,902	3,379
Tax shortfall related to options exercised	(16)	25	4,415
Payment on convertible notes	(23)	(4,014)
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Stockholders' equity, ending balance	2,389,125	2,361,166	2,347,854
Accumulated Comprehensive Income (Deficit)
Statement [Line Items]
Stockholders' equity, beginning balance	5,248	(1,066)	8,821
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Foreign currency translation	862	2,500	(6,252)
Change in unrealized loss on hedging transaction,net of tax		3,814	(3,635)
Stockholders' equity, ending balance	6,110	5,248	(1,066)
Accumulated Deficit
Statement [Line Items]
Stockholders' equity, beginning balance	(651,317)	(592,914)	(594,711)
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Net (loss) income	(40,102)	(58,038)	2,162
Dividends ($63.80 per preferred share)	(365)	(365)	(365)
Stockholders' equity, ending balance	(691,784)	(651,317)	(592,914)
Class A CMN Stock
Statement [Line Items]
Stockholders' equity, beginning balance	94	93	93
Exercise of shares of stock options		1
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Stockholders' equity, ending balance	94	94	93
Class B CMN Stock
Statement [Line Items]
Stockholders' equity, beginning balance	15	15	15
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Stockholders' equity, ending balance	15	15	15
LAMAR MEDIA CORP
Statement [Line Items]
Stockholders' equity, beginning balance	781,472	813,904	882,220
Non-cash compensation	17,839	12,462	9,005
Contributions from parent	27,982	17,302	24,601
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Foreign currency translation	862	2,500	(6,252)
Change in unrealized loss on hedging transaction,net of tax		3,814	(3,635)
Net (loss) income	(40,198)	(55,823)	10,360
Comprehensive loss	(39,336)	(49,509)	473
Dividend to parent	(1,629)	(225)	(93,390)
Stockholders' equity, ending balance	768,489	781,472	813,904
LAMAR MEDIA CORP \| Add'I Paid in Capital
Statement [Line Items]
Stockholders' equity, beginning balance	2,534,783	2,517,481	2,492,880
Contributions from parent	27,982	17,302	24,601
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Stockholders' equity, ending balance	2,562,765	2,534,783	2,517,481
LAMAR MEDIA CORP \| Accumulated Comprehensive Income (Deficit)
Statement [Line Items]
Stockholders' equity, beginning balance	5,248	(1,066)	8,821
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Foreign currency translation	862	2,500	(6,252)
Change in unrealized loss on hedging transaction,net of tax		3,814	(3,635)
Stockholders' equity, ending balance	6,110	5,248	(1,066)
LAMAR MEDIA CORP \| Accumulated Deficit
Statement [Line Items]
Stockholders' equity, beginning balance	(1,758,559)	(1,702,511)	(1,619,481)
Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]
Net (loss) income	(40,198)	(55,823)	10,360
Dividend to parent	(1,629)	(225)	(93,390)
Stockholders' equity, ending balance	$ (1,800,386)	$ (1,758,559)	$ (1,702,511)

Consolidated Statements of Stockholders' Equity and Comprehensive Income (Deficit) [Parenthetical] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Treasury Stock
Statement [Line Items]
Purchase of shares of treasury stock	53,597	6,950	2,629,007
Add'I Paid in Capital
Statement [Line Items]
Exercise of shares of stock options	368,178	111,843	246,489
Payment On Convertible Note	2.875%	2.875%
Conversion Of Shares Of Class B Common Stock To Class A Common Stock	50,000		200,000
Accumulated Comprehensive Income (Deficit)
Statement [Line Items]
Change in unrealized loss on hedging transaction, tax		$ 2,398	$ 2,398
Accumulated Deficit
Statement [Line Items]
Preferred Stock Dividend Shares	$ 63.80	$ 63.80	$ 63.80
LAMAR MEDIA CORP
Statement [Line Items]
Change in unrealized loss on hedging transaction, tax		$ 2,398
LAMAR MEDIA CORP \| Accumulated Comprehensive Income (Deficit)
Statement [Line Items]
Change in unrealized loss on hedging transaction, tax		$ 2,398

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008
Cash flows from operating activities:
Net (loss) income	$ (40,102)	$ (58,038)	$ 2,162
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	312,703	336,725	331,654
Non-cash compensation	17,839	12,462	9,005
Amortization included in interest expense	16,934	19,442	16,137
Gain on disposition of assets and investments	(4,900)	(6,869)	(9,177)
Loss (gain) on extinguishment of debt	17,398	(3,320)
Deferred income tax (benefit) expenses	(24,588)	(20,120)	19,938
Provision for doubtful accounts	8,736	12,663	14,365
(Increase) decrease in:
Receivables	(4,539)	(2,083)	(11,013)
Prepaid expenses	2,581	5,959	599
Other assets	30,723	(15,064)	(19,243)
Increase (decrease) in:
Trade accounts payable	2,460	(4,383)	(4,452)
Accrued expenses	(275)	9,676	(21)
Other liabilities	(12,150)	6,693	(3,434)
Cash flows provided by operating activities	322,820	293,743	346,520
Cash flows from investing activities:
Capital expenditures	(43,452)	(38,815)	(198,070)
Acquisitions	(6,703)	(4,457)	(249,951)
Decrease in notes receivable	240	168	267
Proceeds from disposition of assets and investments	8,435	14,065	10,335
Cash flows used in investing activities	(41,480)	(29,039)	(437,419)
Cash flows from financing activities:
Net proceeds from issuance of common stock	10,160	4,840	11,182
Tax deduction from options exercised			2,156
Cash used for purchase of treasury shares	(1,629)	(44)	(93,390)
Net payments under credit agreement	(290,309)	(198,701)	(29,412)
Net proceeds from credit agreement refinancing	5,360
Payment on convertible notes	(3,402)	(269,087)
Debt issuance costs	(32,597)	(19,919)	(169)
Net proceeds from note offering	400,000	314,927	140,000
Net payment on 7 1/4% notes	(389,647)
Dividends	(365)	(365)	(365)
Cash flows (used in) provided by financing activities	(302,429)	(168,349)	30,002
Effect of exchange rate changes in cash and cash equivalents	515	1,759	(1,012)
Net (decrease) increase in cash and cash equivalents	(20,574)	98,114	(61,909)
Cash and cash equivalents at beginning of period	112,253	14,139	76,048
Cash and cash equivalents at end of period	91,679	112,253	14,139
Supplemental disclosures of cash flow information:
Cash paid for interest	176,427	169,703	149,417
Cash paid for state and federal income taxes	3,496	3,314	3,933
LAMAR MEDIA CORP
Cash flows from operating activities:
Net (loss) income	(40,198)	(55,823)	10,360
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	312,703	336,725	331,654
Non-cash compensation	17,839	12,462	9,005
Amortization included in interest expense	16,836	14,312	3,703
Gain on disposition of assets and investments	(4,900)	(6,869)	(9,177)
Loss (gain) on extinguishment of debt	17,402
Deferred income tax (benefit) expenses	(24,384)	(20,602)	25,781
Provision for doubtful accounts	8,736	12,663	14,365
(Increase) decrease in:
Receivables	(4,539)	(2,083)	(11,013)
Prepaid expenses	2,581	5,959	599
Other assets	30,777	(14,628)	(17,170)
Increase (decrease) in:
Trade accounts payable	2,460	1,508	(4,452)
Accrued expenses	(275)	9,677	60
Other liabilities	(29,974)	(738)	(18,824)
Cash flows provided by operating activities	305,064	292,563	334,891
Cash flows from investing activities:
Capital expenditures	(43,452)	(38,815)	(198,070)
Acquisitions	(6,703)	(4,457)	(249,951)
Decrease in notes receivable	240	168	267
Proceeds from disposition of assets and investments	8,435	14,065	10,335
Cash flows used in investing activities	(41,480)	(29,039)	(437,419)
Cash flows from financing activities:
Net payments under credit agreement	(290,309)	(198,701)	(29,412)
Net proceeds from credit agreement refinancing	5,360
Debt issuance costs	(32,597)	(19,919)	(168)
Net proceeds from note offering	400,000	314,927	140,000
Payment on mirror note		(287,500)
Net payment on 7 1/4% notes	(389,647)
Dividend to parent	(1,629)	(225)	(93,390)
Contributions from parent	27,982	17,302	24,601
Cash flows (used in) provided by financing activities	(280,840)	(174,116)	41,631
Effect of exchange rate changes in cash and cash equivalents	515	1,759	(1,012)
Net (decrease) increase in cash and cash equivalents	(16,741)	91,167	(61,909)
Cash and cash equivalents at beginning of period	105,306	14,139	76,048
Cash and cash equivalents at end of period	88,565	105,306	14,139
Supplemental disclosures of cash flow information:
Cash paid for interest	176,352	169,703	149,417
Cash paid for state and federal income taxes	$ 3,496	$ 3,314	$ 3,933

Consolidated Statements of Cash Flows [Parenthetical]	12 Months Ended
Consolidated Statements of Cash Flows [Parenthetical]	Dec. 31, 2010
Cash flows from financing activities:
Percentage of payments on notes	7.25%
LAMAR MEDIA CORP
Cash flows from financing activities:
Percentage of payments on notes	7.25%

Significant Accounting Policies

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Significant Accounting Policies

(1) Significant Accounting Policies

(a) Nature of Business

Lamar Advertising Company (the Company) is engaged in the outdoor advertising business, operating approximately 146,000 billboard advertising displays in 44 states, Canada and Puerto Rico. The Company’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves.

In addition, the Company operates a logo sign business in 22 states throughout the United States and the province of Ontario, Canada and a transit advertising business in 66 markets. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising on bus shelters, benches and buses in the markets it serves.

(b) Principles of Consolidation

The accompanying consolidated financial statements include Lamar Advertising Company, its wholly owned subsidiary, Lamar Media Corp. (Lamar Media), and its majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.

An operating segment is a component of an enterprise:

	•		that engages in business activities from which it may earn revenues and incur expenses;

	•		whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and

	•		for which discrete financial information is available.

We define the term ‘chief operating decision maker’ to be our executive management group, which consist of our Chief Executive Officer, Chief Operating Officer and Chief Financial Officer. Currently, all operations are reviewed on a consolidated basis for budget and business plan performance by our executive management group. Additionally, operational performance at the end of each reporting period is viewed in the aggregate by our management group. Any decisions related to changes in invested capital, personnel, operational improvement or training, or to allocate other company resources are made based on the combined results.

We operate in a single operating and reporting segment, advertising. We sell advertising on billboards, buses, shelters and benches and logo plates.

(c) Property, Plant and Equipment

Property, plant and equipment are stated at cost. Depreciation is calculated using accelerated and straight-line methods over the estimated useful lives of the assets.

(d) Goodwill and Intangible Assets

Goodwill is subject to an annual impairment test. The Company designated December 31 as the date of its annual goodwill impairment test. Impairment testing involves various estimates and assumptions, which could vary, and an analysis of relevant market data and market capitalization. If industry and economic conditions deteriorate, the Company may be required to assess goodwill impairment before the next annual test, which could result in impairment charges.

The Company is required to identify its reporting units and determine the carrying value of each reporting unit by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units. The Company is required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, the Company would be required to perform the second step of the impairment test, as this is an indication that the reporting unit goodwill may be impaired.

We tested our reporting units for impairment of goodwill during the first quarter of 2009 because the market capitalization of consolidated Lamar Advertising Company had been below its equity book value for a period of time without recovery, and based on that review, no impairment charge was required. In addition, the fair value of each reporting unit exceeded its carrying amount at its annual impairment test dates on December 31, 2010 and December 31, 2009, therefore the Company was not required to recognize an impairment loss in 2010 or 2009.

Intangible assets, consisting primarily of site locations, customer lists and contracts, and non-competition agreements are amortized using the straight-line method over the assets estimated useful lives, generally from 3 to 15 years.

(e) Impairment of Long-Lived Assets

Long-lived assets, such as property, plant and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.

(f) Deferred Income

Deferred income consists principally of advertising revenue invoiced in advance and gains resulting from the sale of certain assets to related parties. Deferred advertising revenue is recognized in income as services are provided over the term of the contract. Deferred gains are recognized in income in the consolidated financial statements at the time the assets are sold to an unrelated party or otherwise disposed of.

(g) Revenue Recognition

The Company recognizes outdoor advertising revenue on an accrual basis ratably over the term of the contracts, as services are provided. Production revenue and the related expense for the advertising copy are recognized upon completion of the sale.

The Company engages in barter transactions where the Company trades advertising space for goods and services. The Company recognizes revenues and expenses from barter transactions at fair value, which is determined based on the Company’s own historical practice of receiving cash for similar advertising space from buyers unrelated to the party in the barter transaction. The amount of revenue and expense recognized for advertising barter transactions is as follows:


	2010		2009		2008
Net revenues	$	6,608	$	5,642	$	5,531
Direct advertising expenses	$	2,768	$	2,808	$	2,996
General and administrative expenses	$	3,242	$	2,867	$	2,643

(h) Income Taxes

The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

(i) Earnings Per Share

The calculation of basic earnings per share excludes any dilutive effect of stock options and convertible debt, while diluted earnings per share includes the dilutive effect of stock options and convertible debt. The number of potentially dilutive shares excluded from the calculation because of their anti-dilutive effect are 465,820 for the year ended December 31, 2010, 2,580,092 for the year ended December 31, 2009 and 5,879,893 for the year ended December 31, 2008.

(j) Stock Based Compensation

Compensation expense for share-based awards is recognized based on the grant date fair value of those awards. Stock-based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis, which is generally commensurate with the vesting term. Non-cash compensation expense recognized during the years ended December 31, 2010, 2009, and 2008 were $17,839, $12,462 and $9,005. The $17,839 expensed during the year ended December 31, 2010 consists of (i) $8,471 related to stock options, (ii) $9,101 related to stock grants, made under the Company’s performance-based stock incentive program in 2009 (iii) $267 related to stock awards to directors. See Note 14 for information on the assumptions we used to calculate the fair value of stock-based compensation.

(k) Cash and Cash Equivalents

The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents.

(l) Foreign Currency Translation

Local currencies generally are considered the functional currencies outside the United States. Assets and liabilities for operations in local-currency environments are translated at year-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the year. Cumulative translation adjustments are recorded as a component of accumulated other comprehensive income (deficit) in stockholders’ equity.

(m) Asset Retirement Obligations

The Company is required to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset’s carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company’s asset retirement obligations relate primarily to the dismantlement, removal, site reclamation and similar activities of its properties.

(n) Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

(o) Comprehensive Income

Total comprehensive income and the components of accumulated other comprehensive income (deficit) are presented in the Consolidated Statement of Changes in Stockholders’ Equity and Comprehensive Income (Deficit). Accumulated other comprehensive income (deficit) is composed of foreign currency translation effects and unrealized gains and losses on cash flow hedging instruments.

(p) Subsequent Events

The Company has performed an evaluation of subsequent events through the date on which the financial statements are issued.

LAMAR MEDIA CORP

Statement [Line Items]

Significant Accounting Policies

(1) Significant Accounting Policies

(a) Nature of Business

Lamar Media Corp. is a wholly owned subsidiary of Lamar Advertising Company. Lamar Media Corp. is engaged in the outdoor advertising business operating approximately 146,000 outdoor advertising displays in 44 states. Lamar Media’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves.

In addition, Lamar Media operates a logo sign business in 22 states throughout the United States as well as the province of Ontario, Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising on bus shelters, benches and buses in the markets it serves.

Certain footnotes are not provided for the accompanying financial statements as the information in notes 2, 4, 6, 9, 10, 13, 14, 15, 16, 17, 18 and 20 and portions of notes 1 and 12 to the consolidated financial statements of Lamar Advertising Company included elsewhere in this Annual Report are substantially equivalent to that required for the consolidated financial statements of Lamar Media Corp. Earnings per share data is not provided for the operating results of Lamar Media Corp. as it is a wholly owned subsidiary of Lamar Advertising Company.

(b) Principles of Consolidation

The accompanying consolidated financial statements include Lamar Media Corp., its wholly owned subsidiaries, The Lamar Company, LLC, Lamar Central Outdoor, Inc., Lamar Oklahoma Holding Co., Inc., Lamar Advertising Southwest, Inc., Lamar DOA Tennessee Holdings, Inc., and Interstate Logos, LLC. and their majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.

Acquisitions

12 Months Ended

Dec. 31, 2010

Acquisitions [Abstract]

Acquisitions

(2) Acquisitions

Year Ended December 31, 2010

During the twelve months ended December 31, 2010, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of approximately $6,703 in cash.

Each of these acquisitions was accounted for under the purchase method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition costs have been allocated to assets acquired and liabilities assumed based on preliminary fair market value estimates at the dates of acquisition. The allocations are pending final determination of the fair value of certain assets and liabilities. The following is a summary of the preliminary allocation of the acquisition costs in the above transactions.


	Total
Property, plant and equipment	$	2,651
Goodwill		1,703
Site locations		2,434
Non-competition agreements		70
Customer lists and contracts		654
Other asset		8
Current liabilities		(817	)

	$	6,703

Total acquired intangible assets for the year ended December 31, 2010 was $4,861, of which $1,703 was assigned to goodwill. Although goodwill is not amortized for financial statement purposes, substantially all of the $1,703 is expected to be fully deductible for tax purposes. The remaining $3,158 of acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $654 (7 year weighted average useful life) and site locations of $2,434 (15 year weighted average useful life). The aggregate amortization expense related to the 2010 acquisitions for the year ended December 31, 2010 was approximately $124.

The following unaudited pro forma financial information for the Company gives effect to the 2010 and 2009 acquisitions as if they had occurred on January 1, 2009. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period.


	2010			2009
Net revenues	$	1,092,916		$	1,060,158
Net loss applicable to common stock	$	(40,692	)	$	(59,407	)
Net loss per common share — basic	$	(0.44	)	$	(0.65	)
Net loss per common share — diluted	$	(0.44	)	$	(0.65	)

Year Ended December 31, 2009

During the twelve months ended December 31, 2009, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of approximately $4,457 in cash.


	Total
Property, plant and equipment	$	1,066
Goodwill		3,288
Site locations		1,952
Customer lists and contracts		159
Current liabilities		(2,008	)

	$	4,457

Total acquired intangible assets for the year ended December 31, 2009 was $5,399, of which $3,288 was assigned to goodwill. Although goodwill is not amortized for financial statement purposes, substantially all of the $3,288 is expected to be fully deductible for tax purposes. The remaining $2,111 of acquired intangible assets have a weighted average useful life of approximately 15 years. The intangible assets include customer lists and contracts of $159 (7 year weighted average useful life) and site locations of $1,952 (15 year weighted average useful life). The aggregate amortization expense related to the 2009 acquisitions for the year ended December 31, 2009 was approximately $50.

The following unaudited pro forma financial information for the Company gives effect to the 2009 and 2008 acquisitions as if they had occurred on January 1, 2008. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period.


	2009			2008
Net revenues	$	1,056,300		$	1,211,024
Net loss income applicable to common stock	$	(58,177	)	$	(2,768	)
Net loss income per common share — basic	$	(0.63	)	$	(0.03	)
Net loss income per common share — diluted	$	(0.63	)	$	(0.03	)

Noncash Financing and Investing Activities	12 Months Ended
Noncash Financing and Investing Activities	Dec. 31, 2010
Statement [Line Items]
Noncash Financing and Investing Activities	(3) Noncash Financing and Investing Activities For the years ended December 31, 2010, 2009 and 2008 there were no significant non-cash financing or investing activities.
LAMAR MEDIA CORP
Statement [Line Items]
Noncash Financing and Investing Activities	(2) Non-cash Financing and Investing Activities For the years ended December 31, 2010, 2009 and 2008 there were no significant non-cash financing or investing activities.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2010

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

(4) Property, Plant and Equipment

Major categories of property, plant and equipment at December 31, 2010 and 2009 are as follows:


	Estimated Life
	(Years)		2010		2009
Land		—	$	298,879	$	298,295
Building and improvements		10 — 39		105,459		110,294
Advertising structures		5 — 15		2,264,953		2,298,975
Automotive and other equipment		3 — 7		127,644		121,162

			$	2,796,935	$	2,828,726

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Goodwill and Other Intangible Assets

(5) Goodwill and Other Intangible Assets

The following is a summary of intangible assets at December 31, 2010 and December 31, 2009:


	Estimated		2010				2009
	Life		Gross Carrying		Accumulated		Gross Carrying		Accumulated
	(Years)		Amount		Amortization		Amount		Amortization
Amortizable Intangible Assets:
Customer lists and contracts		7 — 10	$	466,412	$	441,641	$	465,634	$	429,674
Non-competition agreements		3 — 15		63,493		60,955		63,419		59,810
Site locations		15		1,375,298		833,418		1,371,968		741,599
Other		5 — 15		13,608		13,074		13,608		13,045

			$	1,918,811	$	1,349,088	$	1,914,629	$	1,244,128

Unamortizable Intangible Assets:
Goodwill			$	1,679,770	$	253,635	$	1,677,918	$	253,635

The changes in the gross carrying amount of goodwill for the year ended December 31, 2010 are as follows:


Balance as of December 31, 2009	$	1,677,918
Goodwill acquired during the year		1,703
Purchase price adjustments and other		149
Impairment losses		—

Balance as of December 31, 2010	$	1,679,770

Amortization expense for the year ended December 31, 2010 was $104,529. The following is a summary of the estimated amortization expense for future years:


Year ended December 31, 2011	$	102,362
Year ended December 31, 2012		99,099
Year ended December 31, 2013		96,347
Year ended December 31, 2014		82,382
Year ended December 31, 2015		46,009
Thereafter		143,524

Total	$	569,723

LAMAR MEDIA CORP

Statement [Line Items]

Goodwill and Other Intangible Assets

(3) Goodwill and Other Intangible Assets

The following is a summary of intangible assets at December 31, 2010 and December 31, 2009:


	Estimated		2010				2009
	Life		Gross Carrying		Accumulated		Gross Carrying		Accumulated
	(Years)		Amount		Amortization		Amount		Amortization
Amortizable Intangible Assets:
Customer lists and contracts		7—10	$	466,412	$	441,641	$	465,634	$	429,674
Non-competition agreement		3—15		63,493		60,955		63,419		59,810
Site locations		15		1,375,298		833,418		1,371,968		741,599
Other		5—15		13,063		13,063		13,063		13,063

			$	1,918,266	$	1,349,077	$	1,914,084	$	1,244,146
Unamortizable Intangible Assets:
Goodwill			$	1,668,749	$	252,766	$	1,666,897	$	252,766

The changes in the gross carrying amount of goodwill for the year ended December 31, 2010 are as follows:


Balance as of December 31, 2009	$	1,666,897
Goodwill acquired during the year		1,703
Purchase price adjustments and other		149
Impairment losses		—

Balance as of December 31, 2010	$	1,668,749

Leases

12 Months Ended

Dec. 31, 2010

Leases [Abstract]

Leases

(6) Leases

The Company is party to various operating leases for production facilities, vehicles and sites upon which advertising structures are built. The leases expire at various dates, and have varying options to renew and to cancel and may contain escalation provisions. The following is a summary of minimum annual rental payments required under those operating leases that have original or remaining lease terms in excess of one year as of December 31, 2010:


2011	$	147,911
2012	$	127,731
2013	$	112,511
2014	$	100,748
2015	$	82,601
Thereafter	$	589,562

Rental expense related to the Company’s operating leases was $203,044, $213,549 and $221,314 for the years ended December 31, 2010, 2009 and 2008, respectively.

Accrued Expenses

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Accrued Expenses

(7) Accrued Expenses

The following is a summary of accrued expenses at December 31, 2010 and 2009:


	2010		2009
Payroll	$	13,621	$	11,568
Interest		37,350		44,663
Insurance benefits		11,958		11,099
Accured lease expense		26,851		21,519
Other		6,762		6,767

	$	96,542	$	95,616

LAMAR MEDIA CORP

Statement [Line Items]

Accrued Expenses

(4) Accrued Expenses

The following is a summary of accrued expenses at December 31, 2010 and 2009:


	2010		2009
Payroll	$	13,621	$	11,568
Interest		37,350		44,663
Other		34,832		28,646

	$	85,803	$	84,877

Long-term Debt

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Long-term Debt

(8) Long-term Debt

Long-term debt consists of the following at December 31, 2010 and 2009:


	2010			2009
Senior Credit Agreement	$	808,875		$	1,092,763
2 7/8% Convertible Notes		—			3,273
7 1/4% Senior Subordinated Notes		—			386,765
7 7/8% Senior Subordinated Notes		400,000			—
6 5/8% Senior Subordinated Notes		400,000			400,000
6 5/8% Senior Subordinated Notes — Series B		206,689			205,077
6 5/8% Senior Subordinated Notes — Series C		265,672			264,062
9 3/4% Senior Notes		324,866			318,958
Other notes with various rates and terms		3,038			4,014

		2,409,140			2,674,912
Less current maturities		(5,694	)		(121,282	)

Long-term debt, excluding current maturities	$	2,403,446		$	2,553,630

Long-term debt matures as follows:


2011	$	5,694
2012	$	31,956
2013	$	35,725
2014	$	383,110
2015	$	1,058,071
Later years	$	894,584

The maturities schedule above reflects the amortization of discount in the amount of $43,273.

7 1/4% Senior Subordinated Notes

On December 23, 2002, Lamar Media Corp. completed an offering of $260,000 7 1/4% Senior Subordinated Notes due 2013. These notes are unsecured senior subordinated obligations and will be subordinated to all of Lamar Media’s existing and future senior debt, rank equally with all of Lamar Media’s existing and future senior subordinated debt and rank senior to any future subordinated debt of Lamar Media.

On June 12, 2003, Lamar Media Corp. issued $125,000 7 1/4% Senior Subordinated Notes due 2013 as an add on to the $260,000 issued in December 2002. The issue price of the $125,000 7 1/4% Notes was 103.661% of the principal amount of the notes, which yields an effective rate of 6 5/8%.

On April 8, 2010, Lamar Media commenced a tender offer to purchase for cash any and all of its outstanding 7 1/4% Notes. In conjunction with the tender offer, Lamar Media also solicited consents from the holders of the 7 1/4% Notes to amend the 7 1/4% Notes to eliminate certain covenants and amend certain provisions of the indenture governing the 7 1/4% Notes. On April 22, 2010 Lamar Media accepted tenders for $365,390 in aggregate principal amount of the 7 1/4% Notes in connection with the early settlement date of the tender offer. The holders of accepted notes received a total consideration of $1,012.08 per $1,000 principal amount of the notes tendered (per note data not in thousands). The total cash payment to purchase the tendered 7 1/4% Notes, including accrued and unpaid interest up to but excluding April 22, 2010 was $377,972. Tendering holders also delivered the requisite consents authorizing Lamar Media to remove certain covenants in the 7 1/4% Notes. These consents authorized entry into a Supplemental Indenture, which reflects the amendments to the 7 1/4% Notes discussed above. On May 6, 2010, Lamar Media accepted tenders for an additional $169 in aggregate principal amount of 7 1/4% Notes in connection with the final settlement of the tender offer. On June 7, 2010, Lamar Media redeemed the remaining $19,441 in outstanding notes. During the year ended December 31, 2010, Lamar Media recognized a loss on debt extinguishment of $5,362 related to the repurchase of its 7 1/4% Notes.

2 7/8% Convertible Notes

On June 16, 2003, the Company issued $287,500 2 7/8% Convertible Notes due 2010. The notes were convertible at the option of the holder into shares of Lamar Advertising Company Class A common stock at any time before the close of business on the maturity date, unless previously repurchased, at a conversion rate of 19.4148 shares per $1,000 principal amount of notes, subject to adjustments in some circumstances.

On July 3, 2007, the Company accepted for exchange $287,209 aggregate principal amount of its outstanding 2 7/8% Convertible Notes due 2010 (the “outstanding notes”), for newly issued 2 7/8% Convertible Notes due 2010—Series B (the “new notes”) and cash pursuant to an exchange offer commenced on May 31, 2007. The settlement and exchange of new notes and payment of cash for the outstanding notes was made on July 3, 2007. Approximately 99% of the total outstanding notes were exchanged pursuant to the exchange offer, with approximately $291 aggregate principal amount of outstanding notes remaining outstanding immediately after the consummation of the exchange offer and the total debt outstanding unchanged. The purpose of the exchange offer was to exchange outstanding notes for new notes with certain different terms, including the type of consideration the Company may use to pay holders who convert their notes. Among their features, the new notes were convertible into Class A common stock, cash or a combination thereof, at the Company’s option, subject to certain conditions, while the previously outstanding notes were convertible solely into Class A common stock.

On March 23, 2009, the Company commenced a tender offer to purchase for cash any and all of its outstanding 2 7/8% Convertible Notes due 2010 — Series B. The tender offer expired on April 17, 2009. As a result of the tender offer, the Company accepted for payment $153,633 in principal amount of notes at a purchase price of 92% of the original principal amount of the notes, plus with respect to such convertible notes, all accrued and unpaid interest up to, but not including, the payment date of April 20, 2009. Pursuant to the terms of the tender offer, convertible notes not tendered, or tendered and validly withdrawn, in the tender offer remain outstanding, and the terms and conditions governing the note, including the covenants and other provisions contained in the indentures governing the notes, remain unchanged.

On July 14, 2009, the Company completed a tender offer to purchase for cash any and all of its then outstanding 2 7/8% Convertible Notes due 2010 — Series B. Upon expiration of the tender offer, the Company accepted for payment $120,415 in principal amount of notes at a purchase price of 97.75% of the original principal amount of the notes, all accrued and unpaid interest up to, but not including the payment date of July 15, 2009. Pursuant to the terms of the tender offer, convertible notes not tendered, or tendered and validly withdrawn, in the tender offer remained outstanding, and the terms and conditions governing the notes, including the covenants and other provisions contained in the indentures governing the notes, remained unchanged.

In addition, on August 18, 2009, the Company accepted for payment $7,050 in principal amount of 2 7/8% Convertible Notes due 2010 — Series B at a purchase price of $7,046, which was 99.9% of the original amount of the notes and on October 6, 2009, the Company accepted for payment $3,000 in principal amount of 2 7/8% Convertible Notes due 2010-Series B at a purchase price of $2,992, which was 99.75% of the original amount of the notes. Both of these prepayments were in privately negotiated transactions. There was $3,402 in principal amount of 2 7/8% Convertible Notes due 2010 remaining as of December 31, 2009.

In March 2010, the Company accepted for payment $1,000 in principle amount of 2 7/8% Convertible Notes due 2010 at a purchase price of 100% of the original amount of the notes, through a privately negotiated transaction. The remaining 2 7/8% convertible notes matured and were repaid on December 31, 2010 pursuant to their terms.

6 5/8% Senior Subordinated Notes

On August 16, 2005, Lamar Media Corp., issued $400,000 6 5/8% Senior Subordinated Notes due 2015. These notes are unsecured senior subordinated obligations and will be subordinated to all of Lamar Media’s existing and future senior debt, rank equally with all of Lamar Media’s existing and future senior subordinated debt and rank senior to all of our existing and any future subordinated debt of Lamar Media. These notes are redeemable at the company’s option anytime on or after August 15, 2010. The net proceeds from this issuance were used to reduce borrowings under Lamar Media’s bank credit facility.

On August 17, 2006, Lamar Media Corp. issued $216,000 6 5/8% Senior Subordinated Notes due 2015-Series B. These notes are unsecured senior subordinated obligations and will be subordinated to all of Lamar Media’s existing and future senior debt, rank equally with all of Lamar Media’s existing and future senior subordinated debt and rank senior to all of our existing and any future subordinated debt of Lamar Media. These notes are redeemable at the company’s option anytime on or after August 15, 2010. The net proceeds from this issuance were used to reduce borrowings under Lamar Media’s bank credit facility and repurchase the Company’s Class A common stock pursuant to its repurchase plan.

On October 11, 2007, Lamar Media Corp. issued $275,000 aggregate principal amount of 6 5/8% Senior Subordinated Notes due 2015—Series C. These notes are unsecured senior subordinated obligations and will be subordinated to all of Lamar Media’s existing and future senior debt, rank equally with all of Lamar Media’s existing and future senior subordinated debt and rank senior to all of the existing and any future subordinated debt of Lamar Media. These notes are redeemable at the company’s option anytime on or after August 15, 2010. A portion of the net proceeds from the offering of the Notes was used to repay a portion of the amounts outstanding under Lamar Media’s revolving senior credit facility.

9 3/4% Senior Notes

On March 27, 2009, Lamar Media completed an institutional private placement of $350,000 in aggregate principal amount ($314,927 gross proceeds) of 9 3/4% Senior Notes due 2014. The institutional private placement resulted in net proceeds to Lamar Media of approximately $307,489. The senior notes mature on April 1, 2014 and bear interest at a rate of 9 3/4% per annum, which is payable semi-annually on April 1 and October 1 of each year, beginning October 1, 2009. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The terms of the senior notes will, among other things, limit Lamar Media’s and its restricted subsidiaries’ ability to (i) incur additional debt and issue preferred stock; (ii) make certain distributions, investments and other restricted payments; (iii) create certain liens; (iv) enter into transactions with affiliates; (v) have the restricted subsidiaries make payments to Lamar Media; (vi) merge, consolidate or sell substantially all of Lamar Media’s or the restricted subsidiaries’ assets; and (vii) sell assets. These covenants are subject to a number of exceptions and qualifications.

Lamar Media may redeem up to 35% of the aggregate principal amount of the senior notes, at any time and from time to time, at a price equal to 109.75% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon (including additional interest, if any), with the net cash proceeds of certain public equity offerings completed before April 1, 2012. At any time prior to April 1, 2014, Lamar Media may redeem some or all of the senior notes at a price equal to 100% of the principal amount plus a make-whole premium. In addition, if the Company or Lamar Media undergoes a change of control, Lamar Media may be required to make an offer to purchase each holder’s senior notes at a price equal to 101% of the principal amount of the senior notes, plus accrued and unpaid interest (including additional interest, if any), up to but not including the repurchase date.

The Company’s obligations with respect to its convertible notes were not guaranteed by the Company’s direct or indirect wholly owned subsidiaries. Certain obligations of the Company’s wholly-owned subsidiary, Lamar Media Corp. are guaranteed by its wholly owned domestic subsidiaries.

7 7/8% Senior Subordinated Notes

On April 22, 2010 the Company completed an institutional private placement of $400,000 aggregate principal amount of 7 7/8% Senior Subordinated Notes due 2018 the “7 7/8% Notes” of Lamar Media. The institutional private placement resulted in net proceeds to Lamar Media of approximately $392,000.

Lamar Media may redeem up to 35% of the aggregate principal amount of the Notes, at any time and from time to time, at a price equal to 107.875% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon (including additional interest, if any), with the net cash proceeds of certain public equity offerings completed before April 15, 2013, provided that following the redemption at least 65% of the 7 7/8% Notes that were originally issued remain outstanding. At any time prior to April 15, 2014, Lamar Media may redeem some or all of the 7 7/8% Notes at a price equal to 100% of the principal amount plus a make-whole premium. On or after April 15, 2014, Lamar Media may redeem the 7 7/8% Notes, in whole or part, in cash at redemption prices specified in the Indenture.

The Company used the proceeds of this offering, after the payment of fees and expenses, to repurchase all of its outstanding 7 1/4% Senior Subordinated Notes due 2013 (the “7 1/4% Notes”), as described below.

September 2005 Credit Facility

On September 30, 2005, Lamar Media Corp. entered into a new credit facility (“September 2005 Credit Facility”) which replaced its then existing bank credit facility. The September 2005 Credit Facility was comprised of a $400,000 revolving bank credit facility and a $400,000 term facility. The September 2005 Credit Facility also included a $500,000 incremental facility, which permitted Lamar Media to request that its lenders enter into a commitment to make additional term loans to it, up to a maximum aggregate amount of $500,000. On February 8, 2006, Lamar Media entered into a Series A Incremental Term Loan Agreement and obtained commitments from its lenders for a term loan of $37,000, which was funded on February 27, 2006.

On October 5, 2006, Lamar Media entered into a Series B Incremental Term Loan Agreement and borrowed an additional $150,000 under the incremental portion of the September 2005 Credit Facility. On December 21, 2006, a wholly owned subsidiary of Lamar Media, Lamar Transit Advertising Canada Ltd., entered into a Series C Incremental Term Loan Agreement and obtained commitments from its lenders for a term loan of $20,000. On January 17, 2007, Lamar Media entered into a Series D Incremental Loan Agreement and obtained commitments from its lenders for a term loan of $7,000 which was funded on January 17, 2007. On March 28, 2007, Lamar Media Corp., entered into a Series E Incremental Loan Agreement with its lenders, in the aggregate amount of $250,000, which was funded on March 28, 2007. The Series E Incremental Loans will mature March 31, 2013. Also, on March 28, 2007, Lamar Media Corp. entered into a Series F Incremental Loan Agreement in the aggregate amount of $325,000 which was funded on March 28, 2007. The Series F Incremental Loans will mature on March 31, 2014.

On April 2, 2009, Lamar Media Corp. entered into Amendment No. 4 (“Amendment No. 4”) to the September 2005 Credit Facility credit agreement (as amended, the “Credit Agreement”) together with its subsidiary guarantors, its subsidiary borrowers, the Company, and JPMorgan Chase Bank, N.A., as Administrative Agent (“JPMorgan”) to, among other things: (i) reduce the amount of the revolving credit commitments available thereunder from $400,000 to $200,000; (ii) increase the interest rate margins for the revolving credit facility and term loans under the Credit Agreement; (iii) make certain changes to the provisions regarding mandatory prepayments of loans; (iv) amend certain financial covenants; and (v) cause Lamar Media and the subsidiary guarantors to pledge additional collateral of Lamar Media and its subsidiaries, including certain owned real estate properties, to secure loans made under the Credit Agreement. Amendment No. 4 and the changes it made to the Credit Agreement were effective as of April 6, 2009. Amendment No. 4 also reduced Lamar Media’s incremental loan facility from $500,000 to $300,000. The incremental facility permits Lamar Media to request that its lenders enter into commitments to make additional term loans, up to a maximum aggregate amount of $300,000. Lamar Media’s lenders have no obligation to make additional loans out of the $300,000 incremental facility, but may enter into such commitments at their sole discretion.

During 2010, Lamar Media replaced the September 2005 Credit Facility with a new senior credit facility (as amended to date, the “Senior Credit Facility”), as described below. Lamar Media recorded a $12,039 loss on debt extinguishment as of December 31, 2010, related to the extinguishment of its September 2005 Credit Facility which represented the unamortized portion of previously capitalized debt issuance costs related to the credit facility.

2010 Senior Credit Facility

On April 28, 2010, Lamar Media Corp. refinanced its existing senior credit facility with a new senior credit facility. The Senior Credit Facility, for which JPMorgan Chase Bank, N.A. serves as administrative agent, consists of a $250,000 revolving credit facility, a $270,000 term loan A-1 facility, a $30,000 term loan A-2 facility, a $575,000 term loan B facility and a $300,000 incremental facility, which may be increased by up to an additional $200,000, based upon our satisfaction of a senior debt ratio test (as described below), of less than or equal to 3.25 to 1. Lamar Media is the borrower under the Senior Credit Facility, except with respect to the $30,000 term loan A-2 facility for which Lamar Media’s wholly-owned subsidiary, Lamar Advertising of Puerto Rico, Inc. is the borrower. We may also from time to time designate additional wholly-owned subsidiaries as subsidiary borrowers under the incremental loan facility that can borrow up to $110,000 of the incremental facility. Incremental loans may be in the form of additional term loan tranches or increases in the revolving credit facility. Our lenders have no obligation to make additional loans to us, or any designated subsidiary borrower, under the incremental facility, but may enter into such commitments in their sole discretion.

The remaining quarterly amortizations of the Term facilities as of December 31, 2010 is as follows:


	Term A-1		Term A-2		Term B
December 31, 2011 — March 31, 2012	$	3,375	$	375	$	1,310.6
June 30, 2012 — March 31, 2014	$	6,750	$	750	$	1,310.6
June 30, 2014 — March 30, 2015	$	13,500	$	1,500	$	1,310.6
June 30, 2015 — September 30, 2015	$	37,125	$	4,125	$	1,310.6
December 31, 2015	$	74,250	$	8,250	$	1,310.6
March 31, 2016 — September 30, 2016	$	—	$	—	$	1,310.6
December 31, 2016	$	—	$	—	$	490,163.1

In addition to the amortizations of our Term facilities, Lamar Media may be required to make certain mandatory prepayments on loans outstanding under its Senior Credit Facility that would be applied first to any outstanding term loans, commencing with the year ended December 31, 2010. These payments, if any, will be calculated based on a percentage of Consolidated Excess Cash Flow (as defined in the Senior Credit Facility) at the end of each fiscal year. The percentage of Consolidated Excess Cash Flow that must be applied to repay outstanding loans is set at 50% for the fiscal year ended December 31, 2010. This percentage is subject to reduction as follows for fiscal years ending on or after December 31, 2010: (i) to 25% if the total holdings debt ratio, as described above, is less than or equal to 5.00 to 1.00 but greater than 4.00 to 1.00 as at the last day of such fiscal year and (ii) to 0% if the total holdings debt ratio is less than or equal to 4.00 to 1.00 as at the last day of such fiscal year. At December 31, 2010, the Company was not required to make a mandatory prepayment since there was a consolidated cash flow deficit, in accordance with the calculation as defined in the Senior Credit Facility.

As of December 31, 2010, there was $0 outstanding under the revolving facility. The revolving facility terminates April 28, 2015. Availability of the revolving facility is reduced by the amount of letters of credit outstanding. The company had $10,078 letters of credit outstanding as of December 31, 2010 and $239,922 availability under its revolving facility. Revolving credit loans may be requested under the revolving credit facility at any time prior to maturity. The loans bear interest, at the Company’s option, at the LIBOR Rate or JPMorgan Chase Prime Rate plus applicable margins, such margins being set from time to time based on the Company’s ratio of debt to trailing twelve month EBITDA, as defined in the agreement.

The terms of the indenture relating to Lamar Advertising’s outstanding notes, Lamar Media’s Senior Credit Facility and the indenture relating to Lamar Media’s outstanding notes restrict, among other things, the ability of Lamar Advertising and Lamar Media to:

	•		dispose of assets;

	•		incur or repay debt;

	•		create liens;

	•		make investments; and

	•		pay dividends.

Lamar Media’s ability to make distributions to Lamar Advertising is also restricted under the terms of these agreements. Under Lamar Media’s Senior Credit Facility the Company must maintain specified financial ratios and levels including:

	•		fixed charges ratios;

	•		senior debt ratios; and

	•		total debt ratios.

Lamar Advertising and Lamar Media were in compliance with all of the terms of all of the indentures and the applicable Senior credit agreement during the periods presented.

LAMAR MEDIA CORP

Statement [Line Items]

Long-term Debt

(5) Long-term Debt

Long-term debt consists of the following at December 31, 2010 and 2009:


	2010			2009
7 1/4% Senior Subordinated Notes	$	—		$	386,765
Senior Credit Agreement		808,875			1,092,763
7 7/8% Senior Subordinated Notes		400,000			—
6 5/8% Senior Subordinated Notes		400,000			400,000
6 5/8% Senior Subordinated Notes — Series B		206,689			205,077
6 5/8% Senior Subordinated Notes — Series C		265,672			264,062
9 3/4% Senior Notes		324,866			318,958
Other notes with various rates and terms		3,038			4,014

		2,409,140			2,671,639
Less current maturities		(5,694	)		(118,009	)

Long-term debt excluding current maturities	$	2,403,446		$	2,553,630

Long-term debt matures as follows:


2011	$	5,694
2012	$	31,956
2013	$	35,725
2014	$	383,110
2015	$	1,058,071
Later years	$	894,584

The maturities schedule above reflects the amortization of discount in the amount of $43,273.

Asset Retirement Obligation

12 Months Ended

Dec. 31, 2010

Asset Retirement Obligation [Abstract]

Asset Retirement Obligation

(9) Asset Retirement Obligation

The Company’s asset retirement obligation includes the costs associated with the removal of its structures, resurfacing of the land and retirement cost, if applicable, related to the Company’s outdoor advertising portfolio. The following table reflects information related to our asset retirement obligations:


Balance at December 31, 2008	$	160,723
Additions to asset retirement obligations		166
Accretion expense		10,276
Liabilities settled		(10,905	)

Balance at December 31, 2009		160,260
Revisions in cash flow estimates		7,809
Additions to asset retirement obligations		261
Accretion expense		10,751
Liabilities settled		(5,408	)

Balance at December 31, 2010	$	173,673

Depreciation and Amortization

12 Months Ended

Dec. 31, 2010

Depreciation and Amortization [Abstract]

Depreciation and Amortization

(10) Depreciation and Amortization

The Company includes all categories of depreciation and amortization on a separate line in its Statement of Operations. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statement of Operations are:


	Year Ended December 31,
	2010		2009		2008
Direct expenses	$	297,517	$	318,561	$	312,028
General and administrative expenses		5,033		6,528		7,325
Corporate expenses		10,153		11,636		12,301

	$	312,703	$	336,725	$	331,654

Income Taxes

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Income Taxes

(11) Income Taxes

In January 2007, we adopted Accounting for Uncertainty in Income Taxes which prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In addition, it provides guidance on the measurement, derecognition, classification and disclosure of tax positions, as well as the accounting for related interest and penalties.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


Balance of December 31, 2008	$	868
Plus: additions based on tax positions related to the current year		35
Plus: additions for tax positions of prior years		16
Less: reductions made for tax positions of prior years		—
Less: reductions made for a lapse of the applicable statute of limitations		—
Settlements		—

Balance of December 31, 2009	$	919
Plus: additions based on tax positions related to the current year		35
Plus: additions for tax positions of prior years		—
Less: reductions made for tax positions of prior years		—
Less: reductions made for a lapse of the applicable statute of limitations		(632	)
Settlements		—

Balance of December 31, 2010	$	322

Included in the balance of unrecognized benefits as of December 31, 2010, are $322 of tax benefits that, if recognized in future periods, would impact our effective tax rate.

To the extent penalties and interest would be assessed on any underpayment of income tax, such amounts have been accrued and included in our accrued current tax liability in our consolidated balance sheets. This is an accounting policy election we made that is a continuation of our historical policy, and we intend to continue to consistently apply the policy in the future. During 2010, we accrued $35 in gross interest and penalties.

We are subject to income taxes in the United States and in many of the 50 individual states. In addition, the Company is subject to income taxes in Canada and in the Commonwealth of Puerto Rico. We are open to examination in the United States and in various individual states for tax years ended December 2005 through December 2009. We are also open to examination for the years ended 2002-2003 resulting from net operating losses generated and available for carry forward from those years.

We do not anticipate a significant change in the balance of unrecognized tax benefits within the next 12 months.

Income tax expense (benefit) for the years ended December 31, 2010, 2009 and 2008, consists of:


	Current			Deferred			Total
Year ended December 31, 2010:
U.S. federal	$	(1,290	)	$	(14,174	)	$	(15,464	)
State and local		477			(3,767	)		(3,290	)
Foreign		1,932			(6,647	)		(4,715	)

	$	1,119		$	(24,588	)	$	(23,469	)


Year ended December 31, 2009:
U.S. federal	$	(20,062	)	$	(14,862	)	$	(34,924	)
State and local		1,960			(2,939	)		(979	)
Foreign		2,121			(2,319	)		(198	)

	$	(15,981	)	$	(20,120	)	$	(36,101	)


	Current			Deferred			Total
Year ended December 31, 2008:
U.S. federal	$	(12,845	)	$	19,628		$	6,783
State and local		893			2,092			2,985
Foreign		1,363			(1,782	)		(419	)

	$	(10,589	)		19,938		$	9,349

As of December 31, 2010 and 2009, the company had income taxes refundable of $1,789 and $35,731, respectively, included in other current assets on the balance sheet.

Income tax expense attributable to continuing operations for the years ended December 31, 2010, 2009 and 2008, differs from the amounts computed by applying the U.S. federal income tax rate of 35 percent for 2010, 2009 and 2008, to income before income taxes as follows:


	2010			2009			2008
Computed expected tax (benefit) expense	$	(22,250	)	$	(32,948	)	$	4,029
Increase (reduction) in income taxes resulting from:
Book expenses not deductible for tax purposes		662			816			1,482
Stock-based compensation		518			(3,534	)		2,145
Amortization of non-deductible goodwill		3			6			25
State and local income taxes, net of federal income tax benefit		(4,945	)		(636	)		1,346
Undistributed earnings of foreign subsidiaries		1,083			828			821
Net operating loss valuation allowance		1,487			(9	)		594
Other differences, net		(27	)		(624	)		(1,093	)

	$	(23,469	)	$	(36,101	)	$	9,349

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2010 and 2009 are presented below:


	2010		2009
Current deferred tax assets:
Receivables, principally due to allowance for doubtful accounts	$	5,445	$	6,298
Accrued liabilities not deducted for tax purposes		3,368		2,890
Tax credits		—		3,912
Other		428		423

Net current deferred tax asset	$	9,241	$	13,523


	2010			2009
Non-current deferred tax liabilities:
Plant and equipment, principally due to differences in depreciation	$	(36,134	)	$	(37,676	)
Intangibles, due to differences in amortizable lives		(281,884	)		(267,199	)
Undistributed earnings of foreign subsidiaries		(4,023	)		(2,940	)
Debt, due to 2 7/8% convertible notes discount		—			(41	)
Investments in partnerships		(1,235	)		(973	)

Net non-current tax liabilities		(323,276	)		(308,829	)

Non-current deferred tax assets:
Plant and equipment, due to basis differences on acquisitions and costs capitalized for tax purposes		18,674			19,074
Investment in affiliates and plant and equipment, due to gains recognized for tax purposes and deferred for financial reporting purposes		943			933
Accrued liabilities not deducted for tax purposes		30,505			26,438
Net operating loss carry forward		127,866			94,140
Asset retirement obligation		57,060			51,857
Tax credits		3,829			1,516
Other, net		88			87
Charitable contribution carry forward		409			333

Total non-current deferred tax assets		239,374			194,378
Less: valuation allowance		(3,332	)		(1,679	)

Net non-current deferred tax assets		236,042			192,699

Net non-current deferred tax liability	$	(87,234	)	$	(116,130	)

During 2010, we generated $65,659 of U.S. net operating losses. As of December 31, 2010, we had approximately $285,181 of U.S. net operating loss carry forwards remaining to offset future taxable income. Of this amount, $43,201 is subject to an IRC §382 limitation of $11,793 per year. These carry forwards expire between 2022 through 2030. In addition, we have $3,470 of various credits available to offset future U.S. federal income tax.

As of December 31, 2010 we have approximately $449,317 state net operating losses before valuation allowances. These state net operating losses are available to reduce future taxable income and expire at various times and amounts. Management has determined that a valuation allowance related to state net operating loss carry forwards is necessary. The valuation allowance for these deferred tax assets as of December 31, 2010 and 2009 was $3,332 and $1,679, respectively. The net change in the total valuation allowance for each of the years ended December 31, 2010, 2009, 2008 was an increase (decrease) of $1,653, $(13) and $594, respectively.

During 2010, we generated $4,341 of Puerto Rico net operating losses. As of December 31, 2010, we had approximately $14,716 of Puerto Rico net operating losses available to offset future taxable income. These carry forwards expire between 2016 and 2020.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those jurisdictions during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income, and tax-planning strategies in making this assessment. Based on the level of historical taxable income and projections for future taxable income over the periods for which the deferred tax assets are deductible, management believes that it is more likely than not that we will realize the benefits of these deductible differences, net of the existing valuation allowances at December 31, 2010. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced.

We have a deferred tax liability of approximately $4,023 for the undistributed earnings of our foreign operations that arose in 2010 and prior years. We have recognized current year tax expense of approximately $1,083 for the undistributed earnings of our foreign operations in 2010. As of December 31, 2010, the undistributed earnings of these subsidiaries were approximately $11,493.

LAMAR MEDIA CORP

Statement [Line Items]

Income Taxes

(6) Income Taxes

In January 2007, we adopted Accounting for Uncertainty in Income Taxes (formerly FIN 48). Accounting for Uncertainty in Income Taxes prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. In addition, it provides guidance on the measurement, derecognition, classification and disclosure of tax positions, as well as the accounting for related interest and penalties.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


Balance of December 31, 2008	$	868
Plus: additions based on tax positions related to the current year		35
Plus: additions for tax positions of prior years		16
Less: reductions made for tax positions of prior years		—
Less: reductions made for a lapse of the applicable statute of limitations		—
Settlements		—

Balance of December 31, 2009	$	919
Plus: additions based on tax positions related to the current year		35
Plus: additions for tax positions of prior years		—
Less: reductions made for tax positions of prior years		—
Less: reductions made for a lapse of the applicable statute of limitations		(632	)
Settlements		—

Balance of December 31, 2010	$	322

Included in the balance of unrecognized benefits as of December 31, 2010 is $322, benefits that, if recognized in future periods, would impact our effective tax rate.

To the extent penalties and interest would be assessed on any underpayment of income tax, such amounts have been accrued and included in our accrued current tax liability in our consolidated balance sheets. This is an accounting policy election we made that is a continuation of our historical policy and we intend to continue to consistently apply the policy in the future. During 2010, we accrued $35, in gross interest and penalties.

We do not anticipate a significant change in the balance of unrecognized tax benefits within the next 12 months.

As of December 31, 2010 and December 31, 2009, Lamar Media had income taxes receivable of $2,008 and $36,167 included in other current assets, respectively.

Income tax expense (benefit) for the years ended December 31, 2010, 2009 and 2008, consists of:


	Current			Deferred			Total
Year ended December 31, 2010:
U.S. federal	$	(1,290	)	$	(14,130	)	$	(15,420	)
State and local		529			(3,607	)		(3,078	)
Foreign		1,932			(6,647	)		(4,715	)

	$	1,171		$	(24,384	)	$	(23,213	)


Year ended December 31, 2009:
U.S. federal	$	(19,691	)	$	(15,292	)	$	(34,983	)
State and local		2,026			(2,991	)		(965	)
Foreign		2,121			(2,319	)		(198	)

	$	(15,544	)	$	(20,602	)	$	(36,146	)


Year ended December 31, 2008:
U.S. federal	$	(13,560	)	$	25,425		$	11,865
State and local		903			2,138			3,041
Foreign		1,363			(1,782	)		(419	)

	$	(11,294	)	$	25,781		$	14,487


	2010			2009			2008
Computed expected tax (benefit) expense	$	(22,193	)	$	(32,189	)	$	8,696
Increase (reduction) in income taxes resulting from:
Book expenses not deductible for tax purposes		662			816			1,482
Stock-based compensation		518			(3,534	)		2,145
Amortization of non-deductible goodwill		3			1			19
State and local income taxes, net of federal income tax benefit		(4,205	)		(628	)		1,382
Undistributed earnings foreign subsidiaries		1,083			828			821
Valuation allowance		942			(9	)		594
Other differences, net		(23	)		(1,431	)		(652	)

	$	(23,213	)	$	(36,146	)	$	14,487

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2010 and 2009 are presented below:


	2010		2009
Current deferred tax assets:
Receivables, principally due to allowance for doubtful accounts	$	5,445	$	6,298
Tax credits		—		3,912
Accrued liabilities not deducted for tax purposes		3,368		2,890
Other		428		423

Net current deferred tax asset	$	9,241	$	13,523


	2010			2009
Non-current deferred tax liabilities:
Plant and equipment, principally due to differences in depreciation	$	(36,134	)	$	(37,676	)
Intangibles, due to differences in amortizable lives		(281,246	)		(266,570	)
Undistributed earnings of foreign subsidiary		(4,023	)		(2,940	)
Investment in partnership		(1,235	)		(973	)
Other, net		—			—

	$	(322,638	)	$	(308,159	)


Non-current deferred tax assets:
Plant and equipment, due to basis differences on acquisitions and costs capitalized for tax purposes		18,674			19,074
Investment in affiliates and plant and equipment, due to gains recognized for tax purposes and deferred for financial reporting purposes		943			933
Accrued liabilities not deducted for tax purposes		30,505			26,438
Net operating loss carry forward		79,061			46,063
Asset retirement obligation		57,060			51,857
Tax credits		18,600			16,288
Other, net		88			87
Charitable contributions carry forward		409			333

Total deferred tax assets		205,340			161,073
Less: valuation allowance		(2,785	)		(1,679	)

Total net deferred tax assets		202,555			159,394

Net non-current deferred tax liability	$	(120,083	)	$	(148,765	)

During 2010, we generated $65,608 of U.S. net operating losses. As of December 31, 2010, we had approximately $150,448 of U.S. net operating loss carry forwards remaining to offset future taxable income. Of this amount, $43,201 is subject to an IRC §382 limitation of $11,793 per year. Theses carry forwards expire between 2022 through 2030. In addition, we have $18,242 of various credits available to offset future U.S. federal income tax.

As of December 31, 2010 we have approximately $412,624 state net operating losses before valuation allowances. These state net operating losses are available to reduce future taxable income and expire at various times and amounts. Management has determined that a valuation allowance related to state net operating loss carry forwards is necessary. The valuation allowance for these deferred tax assets as of December 31, 2010 and 2009 was $2,785 and $1,679, respectively. The net change in the total valuation allowance for each of the years ended December 31, 2010, 2009, 2008 was an increase (decrease) of $1,106, $(13) and $594, respectively.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2010
Statement [Line Items]
Related Party Transactions	(12) Related Party Transactions Affiliates, as used within these statements, are persons or entities that are affiliated with Lamar Advertising Company or its subsidiaries through common ownership and directorate control. Prior to 1996, the Company entered into various related party transactions for the purchase and sale of advertising structures whereby any resulting gains were deferred at that date. As of December 31, 2010 and 2009, the deferred gains related to these transactions were $942 and $933, respectively, and are included in deferred income on the balance sheets. No gains related to these transactions have been realized in the Statement of Operations for the years ended December 31, 2010, 2009 and 2008. In addition, the Company had receivables from employees of $155 and $619 at December 31, 2010 and 2009, respectively. These receivables are primarily relocation loans for employees. The Company does not have any receivables from its current executive officers. Effective July 1, 1996, the Lamar Texas Limited Partnership, one of the Company’s subsidiaries, and Reilly Consulting Company, L.L.C., which Kevin P. Reilly, Sr. controls, entered into a consulting agreement, which was amended January 1, 2004. This consulting agreement as amended has a term through December 31, 2008 with automatic renewals for successive one year periods after that date unless either party provides written termination to the other. The amended agreement provides for an annual consulting fee of $190 for the five year period commencing on January 1, 2004 and an annual consulting fee of $150 for any subsequent one year renewal term. As of December 31, 2010, this consulting agreement was renewed for one additional year at the previously agreed fee of $150 per year. The agreement also contains a non-disclosure provision and a non-competition restriction which extends for two years beyond the termination agreement. The Company also had a lease arrangement with Deanna Enterprises, LLC (formerly Reilly Enterprises, LLC), which Kevin P. Reilly Sr. controls, for the use of an airplane. The Company paid a monthly fee plus expenses which entitled the Company to 6.67 hours of flight time, with any unused portion carried over into the next month. This agreement was amended in October 2004, whereby the Company would pay $100 per year for 125 guaranteed flight hours. This agreement was cancelled as of December 31, 2008. Total fees paid under these arrangements for fiscal 2008 were approximately $59.
LAMAR MEDIA CORP
Statement [Line Items]
Related Party Transactions	(7) Related Party Transactions Affiliates, as used within these statements, are persons or entities that are affiliated with Lamar Media Corp. or its subsidiaries through common ownership and directorate control. On September 30, 2005, Lamar Media Corp. issued a note payable to its parent, Lamar Advertising Company, for $287,500 bearing interest at 2 7/8% due 2010. This note was paid in full as of December 31, 2009. As of December 31, 2010 and December 31, 2009, there was a payable to Lamar Advertising Company, its parent, in the amount of $7,105 and $7,075, respectively. Effective December 31, 2010 and December 31, 2009, Lamar Advertising Company contributed $27,982 and $17,302, respectively, to Lamar Media which resulted in an increase in Lamar Media’s additional paid-in capital.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2010
Stockholders' Equity [Abstract]
Stockholders' Equity	(13) Stockholders’ Equity On July 16, 1999, the Board of Directors designated 5,720 shares of the 1,000,000 shares of previously undesignated preferred stock, par value $.001, as Series AA preferred stock. The Class A preferred stock, par value $638, was exchanged for the new Series AA preferred stock and no shares of Class A preferred stock are currently outstanding. The new Series AA preferred stock and the class A preferred stock rank senior to the Class A common stock and Class B common stock with respect to dividends and upon liquidation. Holders of Series AA preferred stock and Class A preferred stock are entitled to receive, on a pari passu basis, dividends at the rate of $15.95 per share per quarter when, as and if declared by the Board of Directors. The Series AA preferred stock and the Class A preferred stock are also entitled to receive, on a pari passu basis, $638 plus a further amount equal to any dividend accrued and unpaid to the date of distribution before any payments are made or assets distributed to the Class A common stock or Class B stock upon voluntary or involuntary liquidation, dissolution or winding up of the Company. The liquidation value of the outstanding Series AA preferred stock at December 31, 2010 was $3,649. The Series AA preferred stock and the Class A preferred stock are identical, except that the Series AA preferred stock is entitled to one vote per share and the Class A preferred stock is not entitled to vote. All of the outstanding shares of common stock are fully paid and nonassessable. In the event of the liquidation or dissolution of the Company, following any required distribution to the holders of outstanding shares of preferred stock, the holders of common stock are entitled to share pro rata in any balance of the corporate assets available for distribution to them. The Company may pay dividends if, when and as declared by the Board of Directors from funds legally available therefore, subject to the restrictions set forth in the Company’s existing indentures and the Senior Credit Facility. Subject to the preferential rights of the holders of any class of preferred stock, holders of shares of common stock are entitled to receive such dividends as may be declared by the Company’s Board of directors out of funds legally available for such purpose. No dividend may be declared or paid in cash or property on any share of either class of common stock unless simultaneously the same dividend is declared or paid on each share of the other class of common stock, provided that, in the event of stock dividends, holders of a specific class of common stock shall be entitled to receive only additional shares of such class. The rights of the Class A and Class B common stock are equal in all respects, except holders of Class B common stock have ten votes per share on all matters in which the holders of common stock are entitled to vote and holders of Class A common stock have one vote per share on such matters. The Class B common stock will convert automatically into Class A common stock upon the sale or transfer to persons other than permitted transferees (as defined in the Company’s certificate of incorporation, as amended). In February 2007, the Company’s board of directors approved a repurchase program of up to $500,000 of the Company’s Class A common stock, which expired on February 22, 2009. Shares repurchased during the program were made on the open market or in privately negotiated transactions. The timing and amount of the shares repurchased were determined by Lamar’s management based on its evaluation of market conditions and other factors. All repurchased shares are available for future use for general corporate and other purposes. During the twelve months ended December 31, 2009, the Company did not purchase any shares of its Class A common stock under the repurchase program.

Stock Compensation Plans

12 Months Ended

Dec. 31, 2010

Stock Compensation Plans [Abstract]

Stock Compensation Plans

(14) Stock Compensation Plans

Equity Incentive Plan. Lamar’s 1996 Equity Incentive Plan has reserved 13 million shares of common stock for issuance to directors and employees, including options granted and common stock reserved for issuance under its performance-based incentive program. Options granted under the plan expire ten years from the grant date with vesting terms ranging from three to five years which primarily includes 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date. All grants are made at fair market value based on the closing price of our Class A common stock as reported on the NASDAQ Global Select Market.

We use a Black-Scholes-Merton option pricing model to estimate the fair value of share-based awards. The Black-Scholes-Merton option pricing model incorporates various highly subjective assumptions, including expected term and expected volatility. We have reviewed our historical pattern of option exercises and have determined that meaningful differences in option exercise activity existed among vesting schedules. Therefore, for all stock options granted after January 1, 2006, we have categorized these awards into two groups of vesting 1) 5-year cliff vest and 2) 4-year graded vest, for valuation purposes. We have determined there were no meaningful differences in employee activity under our ESPP due to the nature of the plan.

We estimate the expected term of options granted using an implied life derived from the results of a hypothetical mid-point settlement scenario, which incorporates our historical exercise, expiration and post-vesting employment termination patterns, while accommodating for partial life cycle effects. We believe these estimates will approximate future behavior.

We estimate the expected volatility of our Class A common stock at the grant date using a blend of 75% historical volatility of our Class A common stock and 25% implied volatility of publicly traded options with maturities greater than six months on our Class A common stock as of the option grant date. Our decision to use a blend of historical and implied volatility was based upon the volume of actively traded options on our common stock and our belief that historical volatility alone may not be completely representative of future stock price trends.

Our risk-free interest rate assumption is determined using the Federal Reserve nominal rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. We assumed an expected dividend yield of zero since the Company has historically not paid dividends on Class A common stock, except for special dividends in 2007.

We estimate option forfeitures at the time of grant and periodically revise those estimates in subsequent periods if actual forfeitures differ from those estimates. We record stock-based compensation expense only for those awards expected to vest using an estimated forfeiture rate based on our historical forfeiture data.

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used:


	Dividend			Expected			Risk Free			Expected
Grant Year	Yield			Volatility			Interest Rate			Lives
2010		0	%		54	%		2	%		5
2009		0	%		55	%		2	%		5
2008		0	%		28	%		3	%		7

Information regarding the 1996 Plan for the year ended December 31, 2010 is as follows:


				Weighted		Weighted
				Average		Average
				Exercise		Contractual
	Shares			Price		Life
Outstanding, beginning of year		3,219,339		$	20.47
Granted		36,500			32.65
Exercised		(368,178	)		18.48
Canceled		(58,891	)		22.33

Outstanding, end of year		2,828,770		$	20.85		8.06

Exercisable at end of year		997,816		$	24.05		7.55

At December 31, 2010 there was $13,597 of unrecognized compensation cost related to stock options granted which is expected to be recognized over a weighted-average period of 2.38 years.

On July 2, 2009, we completed a tender offer for 250 eligible participants to exchange some or all of certain outstanding options (the “Eligible Options”) for new options to be issued under the Company’s 1996 Equity Incentive Plan, as amended. We have accepted for cancellation Eligible Options to purchase an aggregate of 2,630,474 shares of the Company’s Class A common stock, representing 86.2% of the total number of shares of Class A common stock underlying all Eligible Options. In exchange for the Eligible Options surrendered in the Offer, we issued new options to purchase up to an aggregate of 1,030,819 shares of the Company’s Class A common stock under the 1996 Plan. Each new option has an exercise price per share of $15.67, the closing price of the Company’s Class A common stock on the NASDAQ Global Select Market on July 2, 2009. Eligible Options not tendered for exchange remain outstanding according to their original terms and are subject to the 1996 Plan. An incremental cost of $1,923 will be recognized over the 5 year vesting term of the new options using the bifurcation method.

The exchange of Eligible Options has been accounted for as a modification. In calculating the incremental compensation cost of a modification, the fair value of the modified award was compared to the fair value of the original award measured immediately before its terms and conditions were modified. The Company elected to use a binomial lattice model solely to determine the incremental compensation cost associated with the underwater options because it more appropriately captures exercise and cancellation patterns needed in the valuation. There were no significant changes in assumptions utilized in the determination of the incremental compensation cost of the modification.

Shares available for future stock option and restricted share grants to employees and directors under existing plans were 2,505,874 at December 31, 2010. The aggregate intrinsic value of options outstanding as of December 31, 2010 was $54,066, and the aggregate intrinsic value of options exercisable was $15,951. Total intrinsic value of options exercised was $5,431 for the year ended December 31, 2010.

The following table summarizes our non-vested stock option activity for year ended December 31, 2010:


			Weighted Average
			Grant Date
	Shares		Fair Value
Non-vested stock options at the beginning of the period		2,485,985	$	9.31
Granted		36,500		16.30
Vested		634,961		9.97
Canceled		55,371		9.17

Non-vested stock options at the end of the period		1,832,153	$	9.20

Stock Purchase Plan. On May 25, 2000, the stockholders approved the 2000 Employee Stock Purchase Plan (the “2000 ESPP”) whereby 500,000 shares of the Company’s Class A common stock were reserved for issuance under the Plan. Under this plan, eligible employees could purchase stock at 85% of the fair market value of a share on the offering commencement date or the respective purchase date whichever was lower. Purchases were limited to ten percent of an employee’s total compensation. The initial offering under the Plan commenced on April 1, 2000 with a single purchase date on June 30, 2000. Subsequent offerings commenced each year on July 1 with a termination date of December 31 and purchase dates on September 30 and December 31; and on January 1 with a termination date on June 30 and purchase dates on March 31 and June 30. In accordance with the Plan, the number of shares available for issuance under the plan was increased at the beginning of each fiscal year by the lesser of 500,000 shares or one tenth of 1% of the total of shares outstanding or a lessor amount determined by the board of directors.

The 2000 ESPP was terminated following the issuance of all shares that were subject to the offer that commenced under the 2000 ESPP on January 1, 2009 and ended June 30, 2009. In 2009, we adopted a new employee stock purchase plan. Our 2009 Employee Stock Purchase Plan was adopted by our Board of Directors in February 2009 and approved by our shareholders on May 28, 2009. The terms of the 2009 ESPP are substantially the same as the 2000 ESPP. The following is a summary of ESPP share activity for the year ended December 31, 2010:


	Shares
2009 ESPP Plan Shares available for future purchases, January 1, 2010		480,858
Purchases		(149,063	)

Shares available for future purchases, December 31, 2010		331,795

Performance-based compensation. Unrestricted shares of our Class A common stock may be awarded to key officers and employees under our 1996 Plan based on certain Company performance measures for fiscal 2010. The number of shares to be issued; if any, will be dependent on the level of achievement of these performance measures as determined by the Company’s Compensation Committee based on our 2010 results and were issued in the first quarter of 2011. The shares subject to these awards can range from a minimum of 0% to a maximum of 100% of the target number of shares depending on the level at which the goals are attained. Based on the Company’s performance measures achieved through December 31, 2010, the Company has accrued $9,101 as compensation expense related to these agreements.

Benefit Plans	12 Months Ended
Benefit Plans	Dec. 31, 2010
Benefit Plans [Abstract]
Benefit Plans	(15) Benefit Plans The Company sponsors a partially self-insured group health insurance program. The Company is obligated to pay all claims under the program, which are in excess of premiums, up to program limits. The Company is also self-insured with respect to its income disability benefits and against casualty losses on advertising structures. Amounts for expected losses, including a provision for losses incurred but not reported, is included in accrued expenses in the accompanying consolidated financial statements. As of December 31, 2010, the Company maintained $8,664 in letters of credit with a bank to meet requirements of the Company’s worker’s compensation and general liability insurance carrier. *Savings and Profit Sharing Plan* The Company sponsors The Lamar Corporation Savings and Profit Sharing Plan covering eligible employees who have completed one year of service and are at least 21 years of age. The Company has the option to match 50% of employees’ contributions up to 5% of eligible compensation. Employees can contribute up to 100% of compensation. Full vesting on the Company’s matched contributions occurs after three years for contributions made after January 1, 2002. Annually, at the Company’s discretion, an additional profit sharing contribution may be made on behalf of each eligible employee. The Company matched contributions of $1,263, $0 and $3,237 for the years ended December 31, 2010, 2009 and 2008, respectively. *Deferred Compensation Plan* The Company sponsors a Deferred Compensation Plan for the benefit of certain of its board-elected officers who meet specific age and years of service and other criteria. Officers that have attained the age of 30 and have a minimum of 10 years of service to the Company and satisfying additional eligibility guidelines are eligible for annual contributions to the Plan generally ranging from $3 to $8, depending on the employee’s length of service. The Company’s contributions to the Plan are maintained in a rabbi trust and, accordingly, the assets and liabilities of the Plan are reflected in the balance sheet of the Company in other assets and other liabilities. Upon termination, death or disability, participating employees are eligible to receive an amount equal to the fair market value of the assets in the employee’s deferred compensation account. For the year ended December 31, 2010, the Company contributed $1,164. The Company did not contribute to the plan for years ended December 31, 2009 and December 31, 2008. On December 8, 2005, the Company’s Board of Directors approved an amendment to the Lamar Deferred Compensation Plan in order to (1) to comply with the requirements of Section 409A of the Internal Revenue Code (“Section 409A”) applicable to deferred compensation and (2) to reflect changes in the administration of the Plan. The Company’s Board of Directors also approved the adoption of a grantor trust pursuant to which amounts may be set aside, but remain subject to claims of the Company’s creditors, for payments of liabilities under the new plan, including amounts contributed under the old plan. The plan was further amended in August 2007 to make certain amendments to reflect Section 409A regulations issued on April 10, 2007.

Commitment and Contingencies	12 Months Ended
Commitment and Contingencies	Dec. 31, 2010
Commitment and Contingencies [Abstract]
Commitment and Contingencies	(16) Commitment and Contingencies The Company is involved in various other claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

Summarized Financial Information of Subsidiaries	12 Months Ended
Summarized Financial Information of Subsidiaries	Dec. 31, 2010
Summarized Financial Information of Subsidiaries [Abstract]
Summarized Financial Information of Subsidiaries	(17) Summarized Financial Information of Subsidiaries Separate financial statements of each of the Company’s direct or indirect wholly owned subsidiaries that have guaranteed Lamar Media’s obligations with respect to its publicly issued notes (collectively, the “Guarantors”) are not included herein because the Company has no independent assets or operations, the guarantees are full and unconditional and joint and several and the only subsidiaries that are not guarantors are in the aggregate minor. Lamar Media’s ability to make distributions to Lamar Advertising is restricted under both the terms of the indentures relating to Lamar Media’s outstanding notes and by the terms of its Senior Credit Facility. As of December 31, 2010 and December 31, 2009, Lamar Media was permitted under the terms of its outstanding subordinated notes to make transfers to Lamar Advertising in the form of cash dividends, loans or advances in amounts up to $1,380,705 and $1,156,267, respectively. Under its Senior Credit Facility, however, if the total holdings debt ratio (as defined in the Senior Credit Facility) is greater than 5.75 to 1 or its senior debt ratio (as defined in the Senior Credit Facility) is greater than 3.25 to 1.0, or if under the indenture for the 9 3/4% senior notes Lamar Media’s senior leverage ratio (as defined in the indenture for the 9 3/4% senior notes) is greater than or equal to 3.0 to 1, transfers to Lamar Advertising are subject to additional restrictions. As of December 31, 2010, the total holdings debt ratio was greater than 5.75 to 1 and, therefore, transfers to Lamar Advertising were restricted to the following: (a) payments to allow Lamar Advertising to pay dividends on its outstanding Series AA Preferred Stock and (b) payments in respect of “Qualified Holdings Obligations” (as defined in the Senior Credit Facility), consisting of certain fees, costs and expenses incurred from time to time by Lamar Advertising on behalf of Lamar Media and its subsidiaries. As of December 31, 2010, Lamar Media’s senior leverage ratio was greater than 3.0 to 1 and therefore, transfers to Lamar Advertising were restricted to a series of baskets specified in the indenture governing the 9 3/4% senior notes, including payments of Lamar Media’s operating expenses in an aggregate amount in any fiscal year not to exceed 5% of the total operating expenses of Lamar Media and its restricted subsidiaries and other restricted payments not in excess $500 in any fiscal year of Lamar Media.

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2010
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	(18) Fair Value of Financial Instruments At December 31, 2010 and 2009, the Company’s financial instruments included cash and cash equivalents, marketable securities, accounts receivable, investments, accounts payable, borrowings and derivative contracts. The fair values of cash and cash equivalents, accounts receivable, accounts payable and short-term borrowings and current portion of long-term debt approximated carrying values because of the short-term nature of these instruments. Investments and derivative contracts are reported at fair values. Fair values for investments held at cost are not readily available, but are estimated to approximate fair value. The estimated fair value of the Company’s long term debt (including current maturities) was $2,553,211, which exceeded both the gross and carrying amounts of $2,452,913 and $2,409,140, respectively, as of December 31, 2010.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Quarterly Financial Data (Unaudited)

(19) Quarterly Financial Data (Unaudited)


	Year 2010 Quarters
	March 31			June 30			September 30		December 31
Net revenues	$	244,103		$	286,366		$	286,138	$	275,684
Net revenues less direct advertising expenses	$	145,551		$	186,541		$	186,543	$	175,189
Net (loss) income applicable to common stock	$	(24,918	)	$	(9,028	)	$	690	$	(7,211	)
Net (loss) income per common share basic	$	(0.27	)	$	(0.10	)	$	0.01	$	(0.08	)
Net (loss) income per common share — diluted	$	(0.27	)	$	(0.10	)	$	0.01	$	(0.08	)


	Year 2009 Quarters
	March 31			June 30			September 30			December 31
Net revenues	$	247,248		$	274,736		$	271,766		$	262,315
Net revenues less direct advertising expenses	$	146,267		$	175,292		$	174,136		$	162,645
Net loss applicable to common stock	$	(21,829	)	$	(11,928	)	$	(4,872	)	$	(19,774	)
Net loss per common share basic	$	(0.24	)	$	(0.13	)	$	(0.05	)	$	(0.22	)
Net loss income per common share — diluted	$	(0.24	)	$	(0.13	)	$	(0.05	)	$	(0.22	)

LAMAR MEDIA CORP

Statement [Line Items]

Quarterly Financial Data (Unaudited)

(8) Quarterly Financial Data (Unaudited)


	Year 2010 Quarters
	March 31			June 30			September 30		December 31
Net revenues	$	244,103		$	286,366		$	286,138	$	275,684
Net revenues less direct advertising expenses	$	145,551		$	186,541		$	186,543	$	175,189
Net (loss) income	$	(24,898	)	$	(8,810	)	$	803	$	(7,293	)


	Year 2009 Quarters
	March 31			June 30			September 30			December 31
Net revenues	$	247,248		$	274,736		$	271,766		$	262,315
Net revenues less direct advertising expenses	$	146,267		$	175,292		$	174,136		$	162,645
Net income (loss)	$	(19,355	)	$	(12,997	)	$	(4,822	)	$	(18,649	)

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2010
Subsequent Events [Abstract]
Subsequent Events	(20) Subsequent Events On January 7, 2011, the Company prepaid $50,000 of its Series B borrowings under the Senior Credit Facility. The prepayment was ratably applied to the future maturities of our Series B borrowings.

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2010

Statement [Line Items]

Valuation and Qualifying Accounts

Lamar Advertising Company
And Subsidiaries
Valuation and Qualifying Accounts
Years Ended December 31, 2010, 2009 and 2008
(In thousands)


	Balance at		Charged to				Balance at
	Beginning		Costs and				End of
	of Period		Expenses		Deductions		Period
Year ended December 31, 2010 Deducted in balance sheet from trade accounts receivable:
Allowance for doubtful accounts	$	9,550		8,736		10,186	$	8,100
Deducted in balance sheet from intangible assets:
Amortization of intangible assets	$	1,497,763		104,960		—	$	1,602,723
Year ended December 31, 2009 Deducted in balance sheet from trade accounts receivable:	$	10,000		12,663		13,113	$	9,550
Allowance for doubtful accounts
Deducted in balance sheet from intangible assets:	$	1,389,523		108,292		52	$	1,497,763
Amortization of intangible assets
Year ended December 31, 2008 Deducted in balance sheet from trade accounts receivable:	$	6,740		14,365		11,105	$	10,000
Allowance for doubtful accounts
Deducted in balance sheet from intangible assets:	$	1,282,542		106,981		—	$	1,389,523
Amortization of intangible assets

LAMAR MEDIA CORP

Statement [Line Items]

Valuation and Qualifying Accounts

SCHEDULE 2

Lamar Media Corp.
and Subsidiaries
Valuation and Qualifying Accounts
Years Ended December 31, 2010, 2009 and 2008
(In thousands)


	Balance at		Charged to				Balance
	Beginning of		Costs and				at end
	Period		Expenses		Deductions		of Period
Year Ended December 31, 2010
Deducted in balance sheet from trade accounts receivable:
Allowance for doubtful accounts	$	9,550		8,736		10,186	$	8,100
Deducted in balance sheet from intangible assets:
Amortization of intangible assets	$	1,496,912		104,932		—	$	1,601,844
Year Ended December 31, 2009
Deducted in balance sheet from trade accounts receivable:
Allowance for doubtful accounts	$	10,000		12,663		13,113	$	9,550
Deducted in balance sheet from intangible assets:
Amortization of intangible assets	$	1,388,671		108,293		52	$	1,496,912
Year Ended December 31, 2008
Deducted in balance sheet from trade accounts receivable:
Allowance for doubtful accounts	$	6,740		14,365		11,105	$	10,000
Deducted in balance sheet from intangible assets:
Amortization of intangible assets	$	1,281,690		106,981		—	$	1,388,671