0001564590-20-037399 | 10-Q | XBRL Viewer

Revenues - Disaggregation Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Net Revenues	$ 347,652	$ 448,742	$ 754,221	$ 833,199
Billboard Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net Revenues	312,095	393,798	667,400	729,993
Logo Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net Revenues	21,053	21,811	42,445	41,723
Transit Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net Revenues	$ 14,504	$ 33,133	$ 44,376	$ 61,483

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 177,093	$ 26,188
Receivables, net of allowance for doubtful accounts	232,176	254,930
Other current assets	34,968	29,051
Total current assets	444,237	310,169
Property, plant and equipment	3,666,749	3,660,311
Less accumulated depreciation and amortization	(2,346,274)	(2,311,196)
Net property, plant and equipment	1,320,475	1,349,115
Operating lease right of use assets	1,292,917	1,320,779
Goodwill	1,912,161	1,912,274
Intangible assets	955,196	992,244
Other assets	56,595	56,574
Total assets	5,981,581	5,941,155
Current liabilities:
Trade accounts payable	11,928	14,974
Current maturities of long-term debt, net of deferred financing costs	9,120	226,514
Current operating lease liabilities	173,835	196,841
Accrued expenses	73,071	107,225
Deferred income	125,908	127,254
Total current liabilities	393,862	672,808
Long-term debt, net of deferred financing costs	3,146,779	2,753,604
Operating lease liabilities	1,054,140	1,068,181
Deferred income tax liabilities	4,406	5,713
Asset retirement obligation	224,945	226,137
Other liabilities	34,078	34,406
Total liabilities	4,858,210	4,760,849
Stockholders’ equity:
Additional paid-in capital	1,955,612	1,922,222
Accumulated comprehensive (loss) income	(173)	685
Accumulated deficit	(787,751)	(708,408)
Cost of shares held in treasury, 614,914 and 503,198 shares at 2020 and 2019, respectively	(44,418)	(34,294)
Stockholders’ equity	1,123,371	1,180,306
Total liabilities and stockholders’ equity	5,981,581	5,941,155
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Current assets:
Cash and cash equivalents	176,593	25,688
Receivables, net of allowance for doubtful accounts	232,176	254,930
Other current assets	34,968	29,051
Total current assets	443,737	309,669
Property, plant and equipment	3,666,749	3,660,311
Less accumulated depreciation and amortization	(2,346,274)	(2,311,196)
Net property, plant and equipment	1,320,475	1,349,115
Operating lease right of use assets	1,292,917	1,320,779
Goodwill	1,902,009	1,902,123
Intangible assets	954,729	991,776
Other assets	50,980	50,959
Total assets	5,964,847	5,924,421
Current liabilities:
Trade accounts payable	11,928	14,974
Current maturities of long-term debt, net of deferred financing costs	9,120	226,514
Current operating lease liabilities	173,835	196,841
Accrued expenses	66,701	101,266
Deferred income	125,908	127,254
Total current liabilities	387,492	666,849
Long-term debt, net of deferred financing costs	3,146,779	2,753,604
Operating lease liabilities	1,054,140	1,068,181
Deferred income tax liabilities	4,406	5,713
Asset retirement obligation	224,945	226,137
Other liabilities	34,078	34,406
Total liabilities	4,851,840	4,754,890
Stockholders’ equity:
Additional paid-in capital	3,026,120	2,992,729
Accumulated comprehensive (loss) income	(173)	685
Accumulated deficit	(1,912,940)	(1,823,883)
Stockholders’ equity	1,113,007	1,169,531
Total liabilities and stockholders’ equity	5,964,847	5,924,421
Series AA Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value
Common Class B [Member]
Stockholders’ equity:
Common stock, value	14	14
Common Class A [Member]
Stockholders’ equity:
Common stock, value	$ 87	$ 87

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Accumulated Comprehensive Income (Loss) [Member]	Accumulated Comprehensive Income (Loss) [Member] LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Beginning Balance at Dec. 31, 2018	$ 1,131,784	$ 1,120,196	$ 86	$ 14	$ (25,412)	$ 1,852,421	$ 2,922,907	$ 12	$ 12	$ (695,337)	$ (1,802,723)
Non-cash compensation	1,178					1,178
Issuance of shares of common stock through performance stock awards	19,919					19,919
Exercise of stock options	7,352					7,352
Issuance of shares of common stock through employee purchase plan	2,521					2,521
Purchase of treasury stock	(8,682)				(8,682)
Foreign currency translation	259							259
Contribution from parent		30,970					30,970
Foreign currency translations		259							259
Net income	51,253	51,362								51,253	51,362
Dividend to parent		(104,597)									(104,597)
Dividends/distributions to common shareholders	(95,915)									(95,915)
Dividends	(91)									(91)
Ending Balance at Mar. 31, 2019	1,109,578	1,098,190	86	14	(34,094)	1,883,391	2,953,877	271	271	(740,090)	(1,855,958)
Beginning Balance at Dec. 31, 2018	1,131,784	1,120,196	86	14	(25,412)	1,852,421	2,922,907	12	12	(695,337)	(1,802,723)
Foreign currency translation	546
Foreign currency translations		546
Net income	169,649	169,847
Ending Balance at Jun. 30, 2019	1,139,295	1,128,088	86	14	(34,094)	1,890,555	2,961,042	558	558	(717,824)	(1,833,512)
Beginning Balance at Mar. 31, 2019	1,109,578	1,098,190	86	14	(34,094)	1,883,391	2,953,877	271	271	(740,090)	(1,855,958)
Non-cash compensation	1,425					1,425
Exercise of stock options	3,943					3,943
Issuance of shares of common stock through employee purchase plan	1,796					1,796
Foreign currency translation	287							287
Contribution from parent		7,165					7,165
Foreign currency translations		287							287
Net income	118,396	118,485								118,396	118,485
Dividend to parent		(96,039)									(96,039)
Dividends/distributions to common shareholders	(96,039)									(96,039)
Dividends	(91)									(91)
Ending Balance at Jun. 30, 2019	1,139,295	1,128,088	86	14	(34,094)	1,890,555	2,961,042	558	558	(717,824)	(1,833,512)
Beginning Balance at Dec. 31, 2019	1,180,306	1,169,531	87	14	(34,294)	1,922,222	2,992,729	685	685	(708,408)	(1,823,883)
Non-cash compensation	1,261					1,261
Issuance of shares of common stock through performance stock awards	24,956					24,956
Exercise of stock options	652					652
Issuance of shares of common stock through employee purchase plan	2,560					2,560
Purchase of treasury stock	(10,068)				(10,068)
Foreign currency translation	(1,598)							(1,598)
Contribution from parent		29,429					29,429
Foreign currency translations		(1,598)							(1,598)
Net income	40,493	40,617								40,493	40,617
Dividend to parent		(110,755)									(110,755)
Dividends/distributions to common shareholders	(100,687)									(100,687)
Dividends	(91)									(91)
Ending Balance at Mar. 31, 2020	1,137,784	1,127,224	87	14	(44,362)	1,951,651	3,022,158	(913)	(913)	(768,693)	(1,894,021)
Beginning Balance at Dec. 31, 2019	1,180,306	1,169,531	87	14	(34,294)	1,922,222	2,992,729	685	685	(708,408)	(1,823,883)
Foreign currency translation	(858)
Foreign currency translations		(858)
Net income	71,922	72,151
Ending Balance at Jun. 30, 2020	1,123,371	1,113,007	87	14	(44,418)	1,955,612	3,026,120	(173)	(173)	(787,751)	(1,912,940)
Beginning Balance at Mar. 31, 2020	1,137,784	1,127,224	87	14	(44,362)	1,951,651	3,022,158	(913)	(913)	(768,693)	(1,894,021)
Non-cash compensation	1,525					1,525
Exercise of stock options	671					671
Issuance of shares of common stock through employee purchase plan	1,765					1,765
Purchase of treasury stock	(56)				(56)
Foreign currency translation	740							740
Contribution from parent		3,962					3,962
Foreign currency translations		740							740
Net income	31,429	31,534								31,429	31,534
Dividend to parent		(50,453)									(50,453)
Dividends/distributions to common shareholders	(50,396)									(50,396)
Dividends	(91)									(91)
Ending Balance at Jun. 30, 2020	$ 1,123,371	$ 1,113,007	$ 87	$ 14	$ (44,418)	$ 1,955,612	$ 3,026,120	$ (173)	$ (173)	$ (787,751)	$ (1,912,940)

Information about Geographic Areas - Additional Information (Detail) - Foreign Countries [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Net carrying value of long lived assets	$ 5,406		$ 4,549
External Customers [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from external customers	$ 11,022	$ 17,057

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Significant Accounting Policies

1. Significant Accounting Policies

The information included in the foregoing interim condensed consolidated financial statements is unaudited. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and the notes thereto included in the 2019 Combined Form 10-K. Subsequent events, if any, are evaluated through the date on which the financial statements are issued.

The following are updates to our significant accounting policies from our 2019 Combined Form 10-K.

(a)	Goodwill, intangibles and long-lived assets

Due to changes in relevant events and circumstances related to COVID-19, which could have a negative impact on the Company’s goodwill, the Company updated its goodwill qualitative assessment as of June 30, 2020. The update includes assessing macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, reporting unit dispositions and acquisitions, the market capitalization of the Company and other relevant events specific to the Company. After assessing the totality of events and circumstances, the Company determined that it is not “more likely than not” that the fair value of either of the Company’s reporting units is less than its carrying amount. Therefore, management will not perform a quantitative impairment test and concluded its goodwill is not impaired as of June 30, 2020.

Management also reviewed the recoverability of our long-lived assets including intangibles, fixed assets and operating lease right of use assets and concluded there is no impairment loss as of June 30, 2020.

(b)	Use of estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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 expense during the reporting period. These estimates take into account historical and forward-looking factors that the Company believes are reasonable, including but not limited to the potential impacts arising from the COVID-19 pandemic, based on available information to date.

LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Significant Accounting Policies

1. Significant Accounting Policies

The information included in the foregoing interim condensed consolidated financial statements is unaudited. In the opinion of management all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of Lamar Media’s financial position and results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. These interim condensed consolidated financial statements should be read in conjunction with Lamar Media’s consolidated financial statements and the notes thereto included in the 2019 Combined Form 10-K.

Certain notes are not provided for the accompanying condensed consolidated financial statements as the information in notes 1, 2, 3, 4, 5, 6, 7, 8, 10, 11, 12, 14, and 15 to the condensed consolidated financial statements of Lamar Advertising included elsewhere in this report is substantially equivalent to that required for the condensed consolidated financial statements of Lamar Media. Earnings per share data is not provided for Lamar Media, as it is a wholly owned subsidiary of the Company.

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Estimated fair value of Long-term debt (including current maturities)	$ 3,159,255
Gross amount of company's long term debt	3,199,014
Carrying amount of company's long term debt	$ 3,199,014	$ 3,004,532

Distribution Restrictions

6 Months Ended

Jun. 30, 2020

Distribution Restrictions [Abstract]

Distribution Restrictions

8. Distribution Restrictions

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 June 30, 2020 and December 31, 2019, Lamar Media was permitted under the terms of its outstanding senior subordinated and senior notes to make transfers to Lamar Advertising in the form of cash dividends, loans or advances in amounts up to $3,429,654 and $3,389,763, respectively.

As of June 30, 2020, Lamar Media’s senior credit facility allows it to make transfers to Lamar Advertising in any taxable year up to the amount of Lamar Advertising’s taxable income (without any deduction for dividends paid). In addition, as of June 30, 2020, transfers to Lamar Advertising are permitted under Lamar Media’s senior credit facility and as defined therein up to the available cumulative credit, as long as no default has occurred and is continuing and, after giving effect to such distributions, (i) the total debt ratio is less than 7.0 to 1 and (ii) the secured debt ratio does not exceed 4.5 to 1. As of June 30, 2020, the total debt ratio was less than 7.0 to 1 and Lamar Media’s secured debt ratio was less than 4.5 to 1, and the available cumulative credit was $2,180,134.

Stockholders' Equity - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 16, 2020	May 01, 2018
Shelf Registration [Member]
Class of Stock [Line Items]
Additional shares issued	0	0
Common Class A [Member]
Class of Stock [Line Items]
Issuance of shares related to acquisition			163,137
Common Class A [Member] \| Stock Repurchase Program [Member]
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 250,000,000
Stock repurchase program expiry date	Sep. 30, 2021
Stock repurchased during period	$ 0
Common Class A [Member] \| Equity Distribution Agreement [Member]
Class of Stock [Line Items]
Common stock, shares sold	842,412
Common stock, shares available to be sold	$ 336,668,000
Common Class A [Member] \| Maximum [Member]
Class of Stock [Line Items]
Aggregate offering price of common stock issuable					$ 400,000,000

Summarized Financial Information of Subsidiaries

6 Months Ended

Jun. 30, 2020

LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Summarized Financial Information of Subsidiaries

2. Summarized Financial Information of Subsidiaries

Separate condensed consolidating financial information for Lamar Media, subsidiary guarantors and non-guarantor subsidiaries are presented below. Lamar Media and its subsidiary guarantors have fully and unconditionally guaranteed Lamar Media’s obligations with respect to its publicly issued notes. All guarantees are joint and several. As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The following condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes. The condensed consolidating financial information is provided as an alternative to providing separate financial statements for guarantor subsidiaries. Separate financial statements of Lamar Media’s subsidiary guarantors are not included because the guarantees are full and unconditional and the subsidiary guarantors are 100% owned and jointly and severally liable for Lamar Media’s outstanding publicly issued notes. The accounts for all companies reflected herein are presented using the equity method of accounting for investments in subsidiaries.

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Balance Sheet as of June 30, 2020


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Lamar Media Consolidated
	(unaudited)
ASSETS
Total current assets	$	164,644	$	44,905	$	234,188	$	—		$	443,737
Net property, plant and equipment		—		1,311,329		9,146		—			1,320,475
Operating lease right of use assets		—		1,271,821		21,096		—			1,292,917
Intangibles and goodwill, net		—		2,838,868		17,870		—			2,856,738
Other assets		4,157,051		225,091		10,393		(4,341,555	)		50,980
Total assets	$	4,321,695	$	5,692,014	$	292,693	$	(4,341,555	)	$	5,964,847
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current maturities of long-term debt	$	—	$	9,120	$	—	$	—		$	9,120
Current operating lease liabilities		—		168,390		5,445		—			173,835
Other current liabilities		33,062		158,005		13,470		—			204,537
Total current liabilities		33,062		335,515		18,915		—			387,492
Long-term debt		3,144,240		2,539		—		—			3,146,779
Operating lease liabilities		—		1,037,680		16,460		—			1,054,140
Other noncurrent liabilities		31,386		229,469		252,027		(249,453	)		263,429
Total liabilities		3,208,688		1,605,203		287,402		(249,453	)		4,851,840
Stockholder’s equity		1,113,007		4,086,811		5,291		(4,092,102	)		1,113,007
Total liabilities and stockholder’s equity	$	4,321,695	$	5,692,014	$	292,693	$	(4,341,555	)	$	5,964,847

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Balance Sheet as of December 31, 2019


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Lamar Media Consolidated
ASSETS
Total current assets	$	13,859	$	53,756	$	242,054	$	—		$	309,669
Net property, plant and equipment		—		1,340,675		8,440		—			1,349,115
Operating lease right of use assets		—		1,293,674		27,105		—			1,320,779
Intangibles and goodwill, net		—		2,875,644		18,255		—			2,893,899
Other assets		4,193,629		229,905		184,805		(4,557,380	)		50,959
Total assets	$	4,207,488	$	5,793,654	$	480,659	$	(4,557,380	)	$	5,924,421
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current maturities of long-term debt	$	51,480	$	34	$	175,000	$	—		$	226,514
Current operating lease liabilities		—		189,071		7,770		—			196,841
Other current liabilities		26,960		196,689		19,845		—			243,494
Total current liabilities		78,440		385,794		202,615		—			666,849
Long-term debt		2,753,570		34		—		—			2,753,604
Operating lease liabilities		—		1,049,220		18,961		—			1,068,181
Other noncurrent liabilities		205,947		231,416		250,859		(421,966	)		266,256
Total liabilities		3,037,957		1,666,464		472,435		(421,966	)		4,754,890
Stockholder’s equity		1,169,531		4,127,190		8,224		(4,135,414	)		1,169,531
Total liabilities and stockholder’s equity	$	4,207,488	$	5,793,654	$	480,659	$	(4,557,380	)	$	5,924,421

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2020


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	341,664		$	6,237		$	(249	)	$	347,652
Operating expenses
Direct advertising expenses ⁽¹⁾		—			128,485			5,823			(249	)		134,059
General and administrative expenses ⁽¹⁾		—			65,222			2,186			—			67,408
Corporate expenses ⁽¹⁾		—			16,521			124			—			16,645
Depreciation and amortization		—			63,545			453			—			63,998
(Gain) loss on disposition of assets		—			(1,070	)		55			—			(1,015	)
		—			272,703			8,641			(249	)		281,095
Operating income (loss)		—			68,961			(2,404	)		—			66,557
Equity in (earnings) loss of subsidiaries		(66,370	)		—			—			66,370			—
Loss on extinguishment of debt		5			—			—			—			5
Interest expense (income), net		34,831			(24	)		451			—			35,258
Income (loss) before income tax expense		31,534			68,985			(2,855	)		(66,370	)		31,294
Income tax expense (benefit) ⁽²⁾		—			582			(822	)		—			(240	)
Net income (loss)	$	31,534		$	68,403		$	(2,033	)	$	(66,370	)	$	31,534

Statement of Comprehensive Income
Net income (loss)	$	31,534		$	68,403		$	(2,033	)	$	(66,370	)	$	31,534
Total other comprehensive income, net of tax		—			—			740			—			740
Total comprehensive income (loss)	$	31,534		$	68,403		$	(1,293	)	$	(66,370	)	$	32,274

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2019


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	437,074		$	12,498	$	(830	)	$	448,742
Operating expenses
Direct advertising expenses ⁽¹⁾		—			140,108			7,112		(830	)		146,390
General and administrative expenses ⁽¹⁾		—			76,475			1,941		—			78,416
Corporate expenses ⁽¹⁾		—			18,274			311		—			18,585
Depreciation and amortization		—			61,031			662		—			61,693
(Gain) loss on disposition of assets		—			(550	)		13		—			(537	)
		—			295,338			10,039		(830	)		304,547
Operating income		—			141,736			2,459		—			144,195
Equity in (earnings) loss of subsidiaries		(155,336	)		—			—		155,336			—
Interest expense (income), net		36,851			(82	)		1,321		—			38,090
Income (loss) before income tax expense		118,485			141,818			1,138		(155,336	)		106,105
Income tax (benefit) expense ⁽²⁾		—			(13,231	)		851		—			(12,380	)
Net income (loss)	$	118,485		$	155,049		$	287	$	(155,336	)	$	118,485
Statement of Comprehensive Income
Net income (loss)	$	118,485		$	155,049		$	287	$	(155,336	)	$	118,485
Total other comprehensive income, net of tax		—			—			287		—			287
Total comprehensive income (loss)	$	118,485		$	155,049		$	574	$	(155,336	)	$	118,772

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2020

	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	738,295		$	16,689		$	(763	)	$	754,221
Operating expenses
Direct advertising expenses ⁽¹⁾		—			271,537			12,779			(763	)		283,553
General and administrative expenses ⁽¹⁾		—			145,750			3,862			—			149,612
Corporate expenses ⁽¹⁾		—			34,608			404			—			35,012
Depreciation and amortization		—			125,450			861			—			126,311
(Gain) loss on disposition of assets		—			(3,574	)		55			—			(3,519	)
		—			573,771			17,961			(763	)		590,969
Operating income (loss)		—			164,524			(1,272	)		—			163,252
Equity in (earnings) loss of subsidiaries		(160,584	)		—			—			160,584			—
Loss on extinguishment of debt		18,184			—			—			—			18,184
Interest expense (income), net		70,249			(59	)		1,431			—			71,621
Income (loss) before income tax expense		72,151			164,583			(2,703	)		(160,584	)		73,447
Income tax expense (benefit) ⁽²⁾		—			1,924			(628	)		—			1,296
Net income (loss)	$	72,151		$	162,659		$	(2,075	)	$	(160,584	)	$	72,151

Statement of Comprehensive Income
Net income (loss)	$	72,151		$	162,659		$	(2,075	)	$	(160,584	)	$	72,151
Total other comprehensive loss, net of tax		—			—			(858	)		—			(858	)
Total comprehensive income (loss)	$	72,151		$	162,659		$	(2,933	)	$	(160,584	)	$	71,293

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2019


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	811,655		$	23,024		$	(1,480	)	$	833,199
Operating expenses
Direct advertising expenses ⁽¹⁾		—			274,858			13,482			(1,480	)		286,860
General and administrative expenses ⁽¹⁾		—			154,132			3,577			—			157,709
Corporate expenses ⁽¹⁾		—			34,897			608			—			35,505
Depreciation and amortization		—			121,864			1,335			—			123,199
Gain on disposition of assets		—			(1,010	)		(4,151	)		—			(5,161	)
		—			584,741			14,851			(1,480	)		598,112
Operating income		—			226,914			8,173			—			235,087
Equity in (earnings) loss of subsidiaries		(242,710	)		—			—			242,710			—
Interest expense (income), net		72,863			(87	)		2,756			—			75,532
Income (loss) before income tax expense		169,847			227,001			5,417			(242,710	)		159,555
Income tax expense ⁽²⁾		—			(12,612	)		2,320			—			(10,292	)
Net income (loss)	$	169,847		$	239,613		$	3,097		$	(242,710	)	$	169,847

Statement of Comprehensive Income
Net income (loss)	$	169,847		$	239,613		$	3,097		$	(242,710	)	$	169,847
Total other comprehensive income, net of tax		—			—			546			—			546
Total comprehensive income (loss)	$	169,847		$	239,613		$	3,643		$	(242,710	)	$	170,393

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2020


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
	(unaudited)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	165,269		$	238,800		$	5,429		$	(226,745	)	$	182,753
Cash flows from investing activities:
Acquisitions		577			(26,730	)		—			—			(26,153	)
Capital expenditures		—			(34,770	)		(1,504	)		—			(36,274	)
Proceeds from disposition of assets and investments		—			4,750			—			—			4,750
Investment in subsidiaries		(26,730	)		—			—			26,730			—
(Increase) decrease in intercompany notes receivable		(181,089	)		—			—			181,089			—
Net cash (used in) provided by investing activities		(207,242	)		(56,750	)		(1,504	)		207,819			(57,677	)
Cash flows from financing activities:
Proceeds received from revolving credit facility		655,000			—			—			—			655,000
Payment on revolving credit facility		(805,000	)		—			—			—			(805,000	)
Principal payments on long term debt		—			(182	)		—			—			(182	)
Borrowings on long term debt		—			8,750			—			—			8,750
Proceeds received from note offering		1,400,000			—			—			—			1,400,000
Payment on accounts receivable securitization program		—			—			(175,000	)		—			(175,000	)
Redemption on senior subordinated notes		(519,139	)		—			—			—			(519,139	)
Proceeds received from senior credit facility term loans		598,500			—			—			—			598,500
Payments on senior credit facility term loans		(978,097	)		—			—			—			(978,097	)
Debt issuance costs		(30,112	)		—			—			—			(30,112	)
Intercompany loan proceeds		—			3,808			177,281			(181,089	)		—
Distributions to non-controlling interest		—			—			(882	)		—			(882	)
Dividends (to) from parent		(161,208	)		(226,745	)		—			226,745			(161,208	)
Contributions from (to) parent		33,391			26,730			—			(26,730	)		33,391
Net cash provided by (used in) financing activities		193,335			(187,639	)		1,399			18,926			26,021
Effect of exchange rate changes in cash and cash equivalents		—			—			(192	)		—			(192	)
Net increase (decrease) in cash and cash equivalents		151,362			(5,589	)		5,132			—			150,905
Cash and cash equivalents at beginning of period		13,185			8,278			4,225			—			25,688
Cash and cash equivalents at end of period	$	164,547		$	2,689		$	9,357		$	—		$	176,593

LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2019


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
	(unaudited)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	158,778		$	287,842		$	(2,208	)	$	(230,068	)	$	214,344
Cash flows from investing activities:
Acquisitions		—			(78,141	)		—			—			(78,141	)
Capital expenditures		—			(59,193	)		(1,367	)		—			(60,560	)
Proceeds from disposition of assets and investments		—			2,100			—			—			2,100
Proceeds received from insurance claims		(78,141	)		—			—			78,141			—
Investment in subsidiaries		5,161			—			—			(5,161	)		—
Increase in intercompany notes receivable		(127	)		(417	)		—			—			(544	)
Net cash (used in) provided by investing activities		(73,107	)		(135,651	)		(1,367	)		72,980			(137,145	)
Cash flows from financing activities:
Proceeds received from revolving credit facility		220,000			—			—			—			220,000
Payment on revolving credit facility		(375,000	)		—			—			—			(375,000	)
Principal payments on long-term debt		(14,421	)		—			—			—			(14,421	)
Proceeds received from note offering		255,000			—			—			—			255,000
Payment on accounts receivable securitization program		—			—			(9,000	)		—			(9,000	)
Proceeds received from accounts receivable securitization program		—			—			9,000			—			9,000
Debt issuance costs		(4,435	)		—			—			—			(4,435	)
Intercompany loan proceeds		—			(8,461	)		3,300			5,161			—
Distributions to non-controlling interest		—			—			(285	)		—			(285	)
Dividends (to) from parent		(200,636	)		(230,068	)		—			230,068			(200,636	)
Contributions from (to) parent		38,135			78,141			—			(78,141	)		38,135
Net cash (used in) provided by financing activities		(81,357	)		(160,388	)		3,015			157,088			(81,642	)
Effect of exchange rate changes in cash and cash equivalents		—			—			203			—			203
Net increase (decrease) in cash and cash equivalents		4,314			(8,197	)		(357	)		—			(4,240	)
Cash and cash equivalents at beginning of period		4,029			11,655			5,310			—			20,994
Cash and cash equivalents at end of period	$	8,343		$	3,458		$	4,953		$	—		$	16,754

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
The number of dilutive shares excluded from calculation of basic earnings per share resulting from the anti-dilutive effect for stock options	0	0	0	0

Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

Subsequent Event

16. Subsequent Event

On July 30, 2020, the Company announced that its wholly owned subsidiary, Lamar Media, intends to redeem $267,500 in aggregate principal amount of its outstanding 5% Notes on August 31, 2020. Following the redemption, $267,500 of the original $535,000 in aggregate principal amount of 5% Notes will remain outstanding under the indenture. The redemption will be made in accordance with the terms of the indenture governing the 5% Notes.

New Accounting Pronouncements - Additional Information (Detail) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating liabilities, expected to be recognized	$ 1,054,140,000	$ 1,068,181,000
Retained earnings	(787,751,000)	$ (708,408,000)
ASU 2018-11 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating liabilities, expected to be recognized	1,200,000,000
Retained earnings	$ 0

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Total current assets	$ 444,237		$ 310,169
Net property, plant and equipment	1,320,475		1,349,115
Operating lease right of use assets	1,292,917		1,320,779
Other assets	56,595		56,574
Total assets	5,981,581		5,941,155
Current liabilities:
Current maturities of long-term debt	9,120		226,514
Current operating lease liabilities	173,835		196,841
Total current liabilities	393,862		672,808
Long-term debt	3,146,779		2,753,604
Operating lease liabilities	1,054,140		1,068,181
Total liabilities	4,858,210		4,760,849
Stockholder’s equity	1,123,371	$ 1,137,784	1,180,306	$ 1,139,295	$ 1,109,578	$ 1,131,784
Total liabilities and stockholders’ equity	5,981,581		5,941,155
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
ASSETS
Total current assets	443,737		309,669
Net property, plant and equipment	1,320,475		1,349,115
Operating lease right of use assets	1,292,917		1,320,779
Intangibles and goodwill, net	2,856,738		2,893,899
Other assets	50,980		50,959
Total assets	5,964,847		5,924,421
Current liabilities:
Current maturities of long-term debt	9,120		226,514
Current operating lease liabilities	173,835		196,841
Other current liabilities	204,537		243,494
Total current liabilities	387,492		666,849
Long-term debt	3,146,779		2,753,604
Operating lease liabilities	1,054,140		1,068,181
Other noncurrent liabilities	263,429		266,256
Total liabilities	4,851,840		4,754,890
Stockholder’s equity	1,113,007		1,169,531
Total liabilities and stockholders’ equity	5,964,847		5,924,421
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Lamar Media [Member]
ASSETS
Total current assets	164,644		13,859
Other assets	4,157,051		4,193,629
Total assets	4,321,695		4,207,488
Current liabilities:
Current maturities of long-term debt			51,480
Other current liabilities	33,062		26,960
Total current liabilities	33,062		78,440
Long-term debt	3,144,240		2,753,570
Other noncurrent liabilities	31,386		205,947
Total liabilities	3,208,688		3,037,957
Stockholder’s equity	1,113,007		1,169,531
Total liabilities and stockholders’ equity	4,321,695		4,207,488
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
ASSETS
Total current assets	44,905		53,756
Net property, plant and equipment	1,311,329		1,340,675
Operating lease right of use assets	1,271,821		1,293,674
Intangibles and goodwill, net	2,838,868		2,875,644
Other assets	225,091		229,905
Total assets	5,692,014		5,793,654
Current liabilities:
Current maturities of long-term debt	9,120		34
Current operating lease liabilities	168,390		189,071
Other current liabilities	158,005		196,689
Total current liabilities	335,515		385,794
Long-term debt	2,539		34
Operating lease liabilities	1,037,680		1,049,220
Other noncurrent liabilities	229,469		231,416
Total liabilities	1,605,203		1,666,464
Stockholder’s equity	4,086,811		4,127,190
Total liabilities and stockholders’ equity	5,692,014		5,793,654
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
ASSETS
Total current assets	234,188		242,054
Net property, plant and equipment	9,146		8,440
Operating lease right of use assets	21,096		27,105
Intangibles and goodwill, net	17,870		18,255
Other assets	10,393		184,805
Total assets	292,693		480,659
Current liabilities:
Current maturities of long-term debt			175,000
Current operating lease liabilities	5,445		7,770
Other current liabilities	13,470		19,845
Total current liabilities	18,915		202,615
Operating lease liabilities	16,460		18,961
Other noncurrent liabilities	252,027		250,859
Total liabilities	287,402		472,435
Stockholder’s equity	5,291		8,224
Total liabilities and stockholders’ equity	292,693		480,659
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Eliminations [Member]
ASSETS
Other assets	(4,341,555)		(4,557,380)
Total assets	(4,341,555)		(4,557,380)
Current liabilities:
Other noncurrent liabilities	(249,453)		(421,966)
Total liabilities	(249,453)		(421,966)
Stockholder’s equity	(4,092,102)		(4,135,414)
Total liabilities and stockholders’ equity	$ (4,341,555)		$ (4,557,380)

Condensed Consolidating Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 347,652		$ 448,742		$ 754,221	$ 833,199
Operating expenses
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 134,059		$ 146,390		$ 283,553	$ 286,860
General and administrative expenses	67,408		78,416		149,612	157,709
Corporate expenses	16,750		18,674		35,241	35,703
Depreciation and amortization	63,998		61,693		126,311	123,199
Gain on disposition of assets	(1,015)		(537)		(3,519)	(5,161)
Total Operating Expenses	281,200		304,636		591,198	598,310
Operating income	66,452		144,106		163,023	234,889
Loss on extinguishment of debt	5				18,184
Income before income tax expense	31,189		106,016		73,218	159,357
Income tax (benefit) expense	(240)		(12,380)		1,296	(10,292)
Net income	31,429	$ 40,493	118,396	$ 51,253	71,922	169,649
Statements of Comprehensive Income
Net income	31,429	$ 40,493	118,396	$ 51,253	71,922	169,649
Comprehensive income	$ 32,169		$ 118,683		$ 71,064	$ 170,195
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 347,652		$ 448,742		$ 754,221	$ 833,199
Operating expenses
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 134,059		$ 146,390		$ 283,553	$ 286,860
General and administrative expenses	67,408		78,416		149,612	157,709
Corporate expenses	16,645		18,585		35,012	35,505
Depreciation and amortization	63,998		61,693		126,311	123,199
Gain on disposition of assets	(1,015)		(537)		(3,519)	(5,161)
Total Operating Expenses	281,095		304,547		590,969	598,112
Operating income	66,557		144,195		163,252	235,087
Loss on extinguishment of debt	5				18,184
Interest expense (income), net	35,258		38,090		71,621	75,532
Income before income tax expense	31,294		106,105		73,447	159,555
Income tax (benefit) expense	(240)		(12,380)		1,296	(10,292)
Net income	31,534		118,485		72,151	169,847
Statements of Comprehensive Income
Net income	31,534		118,485		72,151	169,847
Foreign currency translation adjustments	740		287		(858)	546
Comprehensive income	$ 32,274		$ 118,772		$ 71,293	$ 170,393
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Lamar Media [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Equity in (earnings) loss of subsidiaries	$ (66,370)		$ (155,336)		$ (160,584)	$ (242,710)
Loss on extinguishment of debt	5				18,184
Interest expense (income), net	34,831		36,851		70,249	72,863
Income before income tax expense	31,534		118,485		72,151	169,847
Net income	31,534		118,485		72,151	169,847
Statements of Comprehensive Income
Net income	31,534		118,485		72,151	169,847
Comprehensive income	$ 31,534		$ 118,485		$ 72,151	$ 169,847
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 341,664		$ 437,074		$ 738,295	$ 811,655
Operating expenses
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 128,485		$ 140,108		$ 271,537	$ 274,858
General and administrative expenses	65,222		76,475		145,750	154,132
Corporate expenses	16,521		18,274		34,608	34,897
Depreciation and amortization	63,545		61,031		125,450	121,864
Gain on disposition of assets	(1,070)		(550)		(3,574)	(1,010)
Total Operating Expenses	272,703		295,338		573,771	584,741
Operating income	68,961		141,736		164,524	226,914
Interest expense (income), net	(24)		(82)		(59)	(87)
Income before income tax expense	68,985		141,818		164,583	227,001
Income tax (benefit) expense	582		(13,231)		1,924	(12,612)
Net income	68,403		155,049		162,659	239,613
Statements of Comprehensive Income
Net income	68,403		155,049		162,659	239,613
Comprehensive income	$ 68,403		$ 155,049		$ 162,659	$ 239,613
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 6,237		$ 12,498		$ 16,689	$ 23,024
Operating expenses
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 5,823		$ 7,112		$ 12,779	$ 13,482
General and administrative expenses	2,186		1,941		3,862	3,577
Corporate expenses	124		311		404	608
Depreciation and amortization	453		662		861	1,335
Gain on disposition of assets	55		13		55	(4,151)
Total Operating Expenses	8,641		10,039		17,961	14,851
Operating income	(2,404)		2,459		(1,272)	8,173
Interest expense (income), net	451		1,321		1,431	2,756
Income before income tax expense	(2,855)		1,138		(2,703)	5,417
Income tax (benefit) expense	(822)		851		(628)	2,320
Net income	(2,033)		287		(2,075)	3,097
Statements of Comprehensive Income
Net income	(2,033)		287		(2,075)	3,097
Foreign currency translation adjustments	740		287		(858)	546
Comprehensive income	$ (1,293)		$ 574		$ (2,933)	$ 3,643
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Eliminations [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ (249)		$ (830)		$ (763)	$ (1,480)
Operating expenses
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ (249)		$ (830)		$ (763)	$ (1,480)
Total Operating Expenses	(249)		(830)		(763)	(1,480)
Equity in (earnings) loss of subsidiaries	66,370		155,336		160,584	242,710
Income before income tax expense	(66,370)		(155,336)		(160,584)	(242,710)
Net income	(66,370)		(155,336)		(160,584)	(242,710)
Statements of Comprehensive Income
Net income	(66,370)		(155,336)		(160,584)	(242,710)
Comprehensive income	$ (66,370)		$ (155,336)		$ (160,584)	$ (242,710)

Long-term Debt - Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2020	Feb. 06, 2020	Dec. 31, 2019	Jan. 28, 2016	Jan. 10, 2014	Oct. 30, 2012
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.00%		5.00%			5.00%
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes			5.375%		5.375%
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.75%		5.75%	5.75%
4 7/8% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	4.875%
3 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	3.75%	3.75%
4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	4.00%	4.00%

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

11. Fair Value of Financial Instruments

At June 30, 2020 and December 31, 2019, the Company’s financial instruments included cash and cash equivalents, marketable securities, accounts receivable, investments, accounts payable and borrowings. 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. Investment 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 $3,159,255 which does not exceed the carrying amount of $3,199,014 as of June 30, 2020. The majority of the fair value is determined using observed prices of publicly traded debt (level 1 in the fair value hierarchy) and the remaining is valued based on quoted prices for similar debt (level 2 in the fair value hierarchy).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Long-term Debt - Additional Information (Detail) - USD ($)										3 Months Ended	6 Months Ended
	Jun. 29, 2020	May 13, 2020	Feb. 20, 2020	Feb. 06, 2020	Feb. 01, 2019	Dec. 18, 2018	Jan. 28, 2016	Jan. 10, 2014	Oct. 30, 2012	Jun. 30, 2020	Jun. 30, 2020	Mar. 16, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument description											On February 6, 2020, Lamar Media entered into a Fourth Amended and Restated Credit Agreement (the “Fourth Amended and Restated Credit Agreement”) with certain of Lamar Media’s subsidiaries as guarantors, JPMorgan Chase Bank, N.A. as administrative agent and the lenders party thereto, under which the parties agreed to amend and restate Lamar Media’s existing senior credit facility. The Fourth Amended and Restated Credit Agreement amended and restated the Third Amended and Restated Credit Agreement dated as of May 15, 2017, as amended (the “Third Amended and Restated Credit Agreement”).
Proceeds received from term B loans											$ 598,500,000
Loss on debt extinguishment										$ 5,000	18,184,000
Outstanding revolving credit facility										0	0
Remaining borrowing capacity under revolving credit facility										737,216,000	737,216,000
Aggregate principal amount of debt issued										3,199,014,000	3,199,014,000
Debt instrument outstanding amount										3,199,014,000	3,199,014,000		$ 3,004,532,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Letter of credit outstanding balance										12,784,000	12,784,000
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Proceeds received from term B loans											598,500,000
Loss on debt extinguishment										$ 5,000	18,184,000
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Loss on debt extinguishment											$ 5,608,000
3 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				3.75%						3.75%	3.75%
Debt instrument outstanding amount										$ 600,000,000	$ 600,000,000
Redeemed percentage of aggregate principal amount				103.75%
Redemption percentage of aggregate principal amount of senior notes				40.00%
Redemption percentage of issued notes which remain outstanding				60.00%
3 3/4% Senior Notes [Member] \| Prior to February 15, 2023 [Member]
Debt Instrument [Line Items]
Redemption price percentage of the principal amount to be purchased				101.00%
Redeemed percentage of aggregate principal amount				100.00%
3 3/4% Senior Notes [Member] \| Private Placement [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				3.75%
Aggregate principal amount of debt issued				$ 600,000,000
Net proceeds form the issuance of debt					$ 592,500,000
4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.00%						4.00%	4.00%
Debt instrument outstanding amount										$ 400,000,000	$ 400,000,000
Redemption price percentage of the principal amount to be purchased				101.00%
4% Senior Notes [Member] \| Prior to February 1, 2021 [Member]
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount				100.00%
4% Senior Notes [Member] \| Prior to February 15, 2023 [Member]
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount				104.00%
Redemption percentage of aggregate principal amount of senior notes				40.00%
Redemption percentage of issued notes which remain outstanding				60.00%
4% Senior Notes [Member] \| Private Placement [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.00%
Aggregate principal amount of debt issued				$ 400,000,000
Net proceeds form the issuance of debt					$ 395,000,000
Accounts Receivable Securitization Program [Member]
Debt Instrument [Line Items]
Debt instrument maturity date						Dec. 17, 2021
Aggregate principal amount of debt issued						$ 175,000,000
Increase in delinquency ratio										11.00%	11.00%
Delinquency ratio	8.00%
Increase in dilution ratio										7.00%	7.00%
Dilution ratio	4.00%
Increase in days sales outstanding											75 days
Number of days sales outstanding	65 days
Percentage of commitment to maintain minimum borrowings											50.00%
Minimum Funding Threshold											requires the Special Purpose Subsidiaries to maintain minimum borrowings under the
Debt instrument outstanding amount										$ 0	$ 0		$ 175,000,000
Accounts Receivable Securitization Program [Member] \| LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Available borrowing on accounts receivable securitization										$ 171,810,000	$ 171,810,000
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage									5.00%	5.00%	5.00%		5.00%
Aggregate principal amount of debt issued									$ 535,000,000
Debt instrument outstanding amount										$ 535,000,000	$ 535,000,000		$ 535,000,000
Net proceeds form the issuance of debt									$ 527,100,000
Redemption price percentage of the principal amount to be purchased									101.00%
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage								5.375%					5.375%
Loss on debt extinguishment											12,576,000
Aggregate principal amount of debt issued								$ 510,000,000
Debt instrument outstanding amount													$ 510,000,000
Net proceeds form the issuance of debt								$ 502,300,000
Redemption, description			The Company used the proceeds from the 4% Senior Notes and 3 3/4% Senior Notes to redeem in full all of the 5 3/8% Notes on February 20, 2020 at a redemption price of 101% of the aggregate principal amounts of the outstanding 5 3/8% Notes, plus accrued and unpaid interest up to but not including the redemption date
Redeemed percentage of aggregate principal amount			101.00%
Loss on debt extinguishment on cash											$ 9,139,000
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							5.75%			5.75%	5.75%		5.75%
Aggregate principal amount of debt issued							$ 400,000,000
Debt instrument outstanding amount										$ 653,988,000	$ 653,988,000		$ 654,345,000
Net proceeds form the issuance of debt							$ 394,500,000
Redemption price percentage of the principal amount to be purchased					101.00%
5 3/4% Senior Notes [Member] \| Prior to February 1, 2021 [Member]
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount					100.00%
5 3/4% Senior Notes [Member] \| Private Placement [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					5.75%
Aggregate principal amount of debt issued					$ 250,000,000
Net proceeds form the issuance of debt					$ 251,500,000
4 7/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage										4.875%	4.875%
Debt instrument outstanding amount										$ 400,000,000	$ 400,000,000
Redeemed percentage of aggregate principal amount		104.875%
Redemption percentage of aggregate principal amount of senior notes		40.00%
Redemption percentage of issued notes which remain outstanding		60.00%
4 7/8% Senior Notes [Member] \| Prior to February 15, 2023 [Member]
Debt Instrument [Line Items]
Redemption price percentage of the principal amount to be purchased		101.00%
Redeemed percentage of aggregate principal amount		100.00%
4 7/8% Senior Notes [Member] \| Private Placement [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.875%
Aggregate principal amount of debt issued		$ 400,000,000
Net proceeds form the issuance of debt		$ 395,000,000
Senior or Senior Subordinated Notes and other Indebtedness [Member] \| Debt Instrument Repurchase Program [Member]
Debt Instrument [Line Items]
Debt repurchase program, authorized amount												$ 250,000,000
Debt instrument repurchase expiry date											Sep. 30, 2021
Debt instrument repurchased under the program										$ 0	$ 0
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility				$ 750,000,000
Debt instrument maturity date				Feb. 06, 2025
Term B Loan Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility				$ 600,000,000
Debt instrument maturity date				Feb. 06, 2027
Proceeds received from term B loans				$ 600,000,000
Term B Loan Facility [Member] \| LIBO Rate [Member]
Debt Instrument [Line Items]
Adjusted Rate				1.50%
Term B Loan Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Adjusted Rate				0.50%
Revolving Credit Facility [Member] \| LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt instrument maturity date											Feb. 06, 2025
Revolving Credit Facility [Member] \| LIBO Rate [Member]
Debt Instrument [Line Items]
Secured debt ratio				3.25
Adjusted Rate				1.50%
Ratio of indebtedness to net capital minimum				1
Revolving Credit Facility [Member] \| LIBO Rate [Member] \| Debt Ratio Less Than Three Point Two Five [Member]
Debt Instrument [Line Items]
Adjusted Rate				1.25%
Revolving Credit Facility [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Secured debt ratio				3.25
Adjusted Rate				0.50%
Ratio of indebtedness to net capital minimum				1
Revolving Credit Facility [Member] \| Base Rate [Member] \| Debt Ratio Less Than Three Point Two Five [Member]
Debt Instrument [Line Items]
Adjusted Rate				0.25%
Revolving Credit Facility [Member] \| Secured Debt [Member]
Debt Instrument [Line Items]
Secured debt ratio				4.50

Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

6. Goodwill and Other Intangible Assets

The following is a summary of intangible assets at June 30, 2020 and December 31, 2019:

	Estimated		June 30, 2020				December 31, 2019
	Life (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable intangible assets:
Customer lists and contracts	7—10		$	644,330	$	551,309	$	641,714	$	539,405
Non-competition agreements	3—15			66,101		64,512		66,014		64,379
Site locations		15		2,399,355		1,550,917		2,384,520		1,509,335
Other	2—15			49,974		37,826		49,864		36,749
			$	3,159,760	$	2,204,564	$	3,142,112	$	2,149,868
Unamortizable intangible assets:
Goodwill			$	2,165,697	$	253,536	$	2,165,810	$	253,536

Information about Geographic Areas

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Information about Geographic Areas

14. Information about Geographic Areas

Revenues from external customers attributable to foreign countries totaled $11,022 and $17,057 for the six months ended June 30, 2020 and 2019, respectively. Net carrying value of long-lived assets located in foreign countries totaled $5,406 and $4,549 as of June 30, 2020 and December 31, 2019, respectively. All other revenues from external customers and long lived assets relate to domestic operations.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Asset Retirement Obligations

6 Months Ended

Jun. 30, 2020

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

7. Asset Retirement Obligations

The Company’s asset retirement obligations include 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, 2019	$	226,137
Additions to asset retirement obligations		421
Accretion expense		2,129
Liabilities settled		(3,742	)
Balance at June 30, 2020	$	224,945

Subsequent Event - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 30, 2020	Jun. 30, 2020
Subsequent Event [Line Items]
Aggregate principal amount of debt issued		$ 3,199,014
Subsequent Event [Member]
Subsequent Event [Line Items]
Aggregate principal amount of debt issued	$ 535,000
Debt instrument redemption date	Aug. 31, 2020
Debt instrument redemption amount	$ 267,500
Subsequent Event [Member] \| 5% Notes [Member]
Subsequent Event [Line Items]
Interest rate on senior notes	5.00%

Stock-Based Compensation - Summary of ESPP Share Activity (Detail) - shares	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchases	(31,114)	(58,734)	(31,455)	(44,161)
Available for future purchases, June 30, 2020	2,470,063				2,470,063
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved					86,093
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for future purchases, January 1, 2020		438,434			438,434
Purchases					(89,848)
Available for future purchases, June 30, 2020	434,679				434,679
Employee Stock Purchase Plan [Member] \| 2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved					86,093

Significant Accounting Policies - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2020 USD ($)
Accounting Policies [Abstract]
Goodwill impairment loss	$ 0
Impairment of Long-Lived Assets Held-for-use	$ 0

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,159,760	$ 3,142,112
Accumulated Amortization	2,204,564	2,149,868
Goodwill gross carrying amount	2,165,697	2,165,810
Goodwill accumulated amortization	253,536	253,536
Customer Lists and Contracts [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	644,330	641,714
Accumulated Amortization	$ 551,309	539,405
Customer Lists and Contracts [Member] \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	7 years
Customer Lists and Contracts [Member] \| Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	10 years
Non-competition Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 66,101	66,014
Accumulated Amortization	$ 64,512	64,379
Non-competition Agreements [Member] \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	3 years
Non-competition Agreements [Member] \| Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Site Locations [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,399,355	2,384,520
Accumulated Amortization	$ 1,550,917	1,509,335
Site Locations [Member] \| Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Other [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 49,974	49,864
Accumulated Amortization	$ 37,826	$ 36,749
Other [Member] \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	2 years
Other [Member] \| Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Jul. 31, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	LAMR
Entity Registrant Name	LAMAR ADVERTISING CO/NEW
Entity Central Index Key	0001090425
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-36756
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1449411
Entity Address, Address Line One	5321 Corporate Blvd.,
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70808
City Area Code	225
Local Phone Number	926-1000
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Class A common stock, $0.001 par value
Security Exchange Name	NASDAQ
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		86,389,807
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,420,085
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	LAMAR MEDIA CORP/DE
Entity Central Index Key	0000899045
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-12407
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1205791
Entity Address, Address Line One	5321 Corporate Blvd.,
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70808
City Area Code	225
Local Phone Number	926-1000
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Class Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		100

Asset Retirement Obligations (Tables)

6 Months Ended

Jun. 30, 2020

Asset Retirement Obligation Disclosure [Abstract]

The following table reflects information related to our asset retirement obligations:

Balance at December 31, 2019	$	226,137
Additions to asset retirement obligations		421
Accretion expense		2,129
Liabilities settled		(3,742	)
Balance at June 30, 2020	$	224,945

Dividends/Distributions

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Dividends/Distributions

13. Dividends/Distributions

During the three months ended June 30, 2020 and 2019, the Company declared and paid cash distributions in an aggregate amount of $50,396 or $0.50 per share and $96,039 or $0.96 per share, respectively. During the six months ended June 30, 2020 and 2019, the Company declared and paid cash distributions in an aggregate amount of $151,083 or $1.50 per share and $191,954 or $1.92 per share, respectively. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its taxable REIT subsidiaries (TRSs), the impact of COVID-19 on the Company’s operations and other factors that the Board of Directors may deem relevant. During the three and six months ended June 30, 2020 and 2019, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $91 or $15.95 per share and $182 or $31.90 per share for each period, respectively.

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 17,661	$ 13,185
Current deferred financing costs	0	6,081
Noncurrent deferred financing costs	$ 43,115	$ 18,333
Shares held in treasury	614,914	503,198
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Allowance for doubtful accounts	$ 17,661	$ 13,185
Current deferred financing costs	0	6,081
Noncurrent deferred financing costs	$ 43,115	$ 18,333
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
Series AA Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, cumulative dividends	$ 63.80	$ 63.80
Preferred stock, shares authorized	5,720	5,720
Preferred stock, shares issued	5,720	5,720
Preferred stock, shares outstanding	5,720	5,720
Common Class A [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	362,500,000	362,500,000
Common stock, shares issued	87,004,721	86,596,498
Common stock, shares outstanding	86,389,807	86,093,300
Common Class B [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	37,500,000	37,500,000
Common stock, shares issued	14,420,085	14,420,085
Common stock, shares outstanding	14,420,085	14,420,085

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 71,922	$ 169,649
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	126,311	123,199
Stock-based compensation	6,162	7,506
Amortization included in interest expense	2,878	2,670
Gain on disposition of assets and investments	(3,519)	(5,161)
Loss on extinguishment of debt	18,184
Deferred tax benefit	(1,313)	(15,121)
Provision for doubtful accounts	8,331	4,657
Decrease (increase) in:
Receivables	13,772	(19,103)
Prepaid lease expenses	623	20,173
Other assets	(7,179)	(11,108)
(Decrease) increase in:
Trade accounts payable	(25)	1,520
Accrued expenses	(12,012)	(13,528)
Operating lease liabilities	(8,735)	(45,836)
Other liabilities	(4,723)	17,532
Net cash provided by operating activities	210,677	237,049
Cash flows from investing activities:
Acquisitions	(26,153)	(78,141)
Capital expenditures	(36,274)	(60,560)
Proceeds from disposition of assets and investments	4,750	2,100
Increase of notes receivable		(544)
Net cash (used in) provided by investing activities	(57,677)	(137,145)
Cash flows from financing activities:
Cash used for purchase of treasury stock	(10,124)	(8,682)
Net proceeds from issuance of common stock	5,648	15,612
Principal payments on long term debt	(182)	(14,421)
Borrowings on long term debt	8,750
Payments on revolving credit facility	(805,000)	(375,000)
Proceeds received from revolving credit facility	655,000	220,000
Redemption of senior subordinated notes	(519,139)
Proceeds received from note offering	1,400,000	255,000
Proceeds received from accounts receivable securitization program		9,000
Payments on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from senior credit facility term loans	598,500
Payments on senior credit facility term loans	(978,097)
Debt issuance costs	(30,112)	(4,435)
Distributions to non-controlling interest	(882)	(285)
Dividends/distributions	(151,265)	(192,136)
Net cash used in financing activities	(1,903)	(104,347)
Effect of exchange rate changes in cash and cash equivalents	(192)	203
Net increase (decrease) in cash and cash equivalents	150,905	(4,240)
Cash and cash equivalents at beginning of period	26,188	21,494
Cash and cash equivalents at end of period	177,093	17,254
Supplemental disclosures of cash flow information:
Cash paid for interest	68,784	66,968
Cash paid for foreign, state and federal income taxes	3,175	9,260
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net income	72,151	169,847
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	126,311	123,199
Stock-based compensation	6,162	7,506
Amortization included in interest expense	2,878	2,670
Gain on disposition of assets and investments	(3,519)	(5,161)
Loss on extinguishment of debt	18,184
Deferred tax benefit	(1,313)	(15,121)
Provision for doubtful accounts	8,331	4,657
Decrease (increase) in:
Receivables	13,772	(19,103)
Prepaid lease expenses	623	20,173
Other assets	(7,179)	(11,108)
(Decrease) increase in:
Trade accounts payable	(25)	1,520
Accrued expenses	(12,012)	(13,528)
Operating lease liabilities	(8,735)	(45,836)
Other liabilities	(32,876)	(5,371)
Net cash provided by operating activities	182,753	214,344
Cash flows from investing activities:
Acquisitions	(26,153)	(78,141)
Capital expenditures	(36,274)	(60,560)
Proceeds from disposition of assets and investments	4,750	2,100
Increase of notes receivable		(544)
Net cash (used in) provided by investing activities	(57,677)	(137,145)
Cash flows from financing activities:
Principal payments on long term debt	(182)	(14,421)
Borrowings on long term debt	8,750
Payments on revolving credit facility	(805,000)	(375,000)
Proceeds received from revolving credit facility	655,000	220,000
Redemption of senior subordinated notes	(519,139)
Proceeds received from note offering	1,400,000	255,000
Proceeds received from accounts receivable securitization program		9,000
Payments on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from senior credit facility term loans	598,500
Payments on senior credit facility term loans	(978,097)
Debt issuance costs	(30,112)	(4,435)
Distributions to non-controlling interest	(882)	(285)
Contributions from parent	33,391	38,135
Dividend to parent	(161,208)	(200,636)
Net cash used in financing activities	26,021	(81,642)
Effect of exchange rate changes in cash and cash equivalents	(192)	203
Net increase (decrease) in cash and cash equivalents	150,905	(4,240)
Cash and cash equivalents at beginning of period	25,688	20,994
Cash and cash equivalents at end of period	176,593	16,754
Supplemental disclosures of cash flow information:
Cash paid for interest	68,784	66,968
Cash paid for foreign, state and federal income taxes	$ 3,175	$ 9,260

Stock-Based Compensation - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($) shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting terms	vesting terms ranging from three to five years and include 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.
Number of shares available for grant	2,470,063
Common Class A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	32,000
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	5 years
1996 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for issuance to directors and employees	17,500,000
1996 Equity Incentive Plan [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	0.00%
1996 Equity Incentive Plan [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	100.00%
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved	86,093
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration date of options granted under equity incentive plan	10 years
Restricted Stock [Member] \| Non-employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements \| $	$ 492
Restricted Stock [Member] \| Percentage of awards vesting on grant date [Member] \| Non-employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of awards vesting on grant date	50.00%
Restricted Stock [Member] \| Percentage of Awards Vesting On Last Day of Each Directors Term [Member] \| Non-employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	1 year
Percentage of awards vesting on grant date	50.00%
Performance Based Compensation [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements \| $	$ 3,494

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Goodwill, Intangible Assets and Long-Lived Assets

(a)	Goodwill, intangibles and long-lived assets

Use of Estimates

(b)	Use of estimates

Summarized Financial Information of Subsidiaries (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

6 Months Ended

Jun. 30, 2020

Condensed Consolidating Balance Sheet

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Balance Sheet as of June 30, 2020


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Lamar Media Consolidated
	(unaudited)
ASSETS
Total current assets	$	164,644	$	44,905	$	234,188	$	—		$	443,737
Net property, plant and equipment		—		1,311,329		9,146		—			1,320,475
Operating lease right of use assets		—		1,271,821		21,096		—			1,292,917
Intangibles and goodwill, net		—		2,838,868		17,870		—			2,856,738
Other assets		4,157,051		225,091		10,393		(4,341,555	)		50,980
Total assets	$	4,321,695	$	5,692,014	$	292,693	$	(4,341,555	)	$	5,964,847
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current maturities of long-term debt	$	—	$	9,120	$	—	$	—		$	9,120
Current operating lease liabilities		—		168,390		5,445		—			173,835
Other current liabilities		33,062		158,005		13,470		—			204,537
Total current liabilities		33,062		335,515		18,915		—			387,492
Long-term debt		3,144,240		2,539		—		—			3,146,779
Operating lease liabilities		—		1,037,680		16,460		—			1,054,140
Other noncurrent liabilities		31,386		229,469		252,027		(249,453	)		263,429
Total liabilities		3,208,688		1,605,203		287,402		(249,453	)		4,851,840
Stockholder’s equity		1,113,007		4,086,811		5,291		(4,092,102	)		1,113,007
Total liabilities and stockholder’s equity	$	4,321,695	$	5,692,014	$	292,693	$	(4,341,555	)	$	5,964,847

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Balance Sheet as of December 31, 2019


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			Lamar Media Consolidated
ASSETS
Total current assets	$	13,859	$	53,756	$	242,054	$	—		$	309,669
Net property, plant and equipment		—		1,340,675		8,440		—			1,349,115
Operating lease right of use assets		—		1,293,674		27,105		—			1,320,779
Intangibles and goodwill, net		—		2,875,644		18,255		—			2,893,899
Other assets		4,193,629		229,905		184,805		(4,557,380	)		50,959
Total assets	$	4,207,488	$	5,793,654	$	480,659	$	(4,557,380	)	$	5,924,421
LIABILITIES AND STOCKHOLDER'S EQUITY
Current liabilities:
Current maturities of long-term debt	$	51,480	$	34	$	175,000	$	—		$	226,514
Current operating lease liabilities		—		189,071		7,770		—			196,841
Other current liabilities		26,960		196,689		19,845		—			243,494
Total current liabilities		78,440		385,794		202,615		—			666,849
Long-term debt		2,753,570		34		—		—			2,753,604
Operating lease liabilities		—		1,049,220		18,961		—			1,068,181
Other noncurrent liabilities		205,947		231,416		250,859		(421,966	)		266,256
Total liabilities		3,037,957		1,666,464		472,435		(421,966	)		4,754,890
Stockholder’s equity		1,169,531		4,127,190		8,224		(4,135,414	)		1,169,531
Total liabilities and stockholder’s equity	$	4,207,488	$	5,793,654	$	480,659	$	(4,557,380	)	$	5,924,421

Condensed Consolidating Statements of Income and Comprehensive Income

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2020


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	341,664		$	6,237		$	(249	)	$	347,652
Operating expenses
Direct advertising expenses ⁽¹⁾		—			128,485			5,823			(249	)		134,059
General and administrative expenses ⁽¹⁾		—			65,222			2,186			—			67,408
Corporate expenses ⁽¹⁾		—			16,521			124			—			16,645
Depreciation and amortization		—			63,545			453			—			63,998
(Gain) loss on disposition of assets		—			(1,070	)		55			—			(1,015	)
		—			272,703			8,641			(249	)		281,095
Operating income (loss)		—			68,961			(2,404	)		—			66,557
Equity in (earnings) loss of subsidiaries		(66,370	)		—			—			66,370			—
Loss on extinguishment of debt		5			—			—			—			5
Interest expense (income), net		34,831			(24	)		451			—			35,258
Income (loss) before income tax expense		31,534			68,985			(2,855	)		(66,370	)		31,294
Income tax expense (benefit) ⁽²⁾		—			582			(822	)		—			(240	)
Net income (loss)	$	31,534		$	68,403		$	(2,033	)	$	(66,370	)	$	31,534

Statement of Comprehensive Income
Net income (loss)	$	31,534		$	68,403		$	(2,033	)	$	(66,370	)	$	31,534
Total other comprehensive income, net of tax		—			—			740			—			740
Total comprehensive income (loss)	$	31,534		$	68,403		$	(1,293	)	$	(66,370	)	$	32,274

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2019


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	437,074		$	12,498	$	(830	)	$	448,742
Operating expenses
Direct advertising expenses ⁽¹⁾		—			140,108			7,112		(830	)		146,390
General and administrative expenses ⁽¹⁾		—			76,475			1,941		—			78,416
Corporate expenses ⁽¹⁾		—			18,274			311		—			18,585
Depreciation and amortization		—			61,031			662		—			61,693
(Gain) loss on disposition of assets		—			(550	)		13		—			(537	)
		—			295,338			10,039		(830	)		304,547
Operating income		—			141,736			2,459		—			144,195
Equity in (earnings) loss of subsidiaries		(155,336	)		—			—		155,336			—
Interest expense (income), net		36,851			(82	)		1,321		—			38,090
Income (loss) before income tax expense		118,485			141,818			1,138		(155,336	)		106,105
Income tax (benefit) expense ⁽²⁾		—			(13,231	)		851		—			(12,380	)
Net income (loss)	$	118,485		$	155,049		$	287	$	(155,336	)	$	118,485
Statement of Comprehensive Income
Net income (loss)	$	118,485		$	155,049		$	287	$	(155,336	)	$	118,485
Total other comprehensive income, net of tax		—			—			287		—			287
Total comprehensive income (loss)	$	118,485		$	155,049		$	574	$	(155,336	)	$	118,772

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2020

	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	738,295		$	16,689		$	(763	)	$	754,221
Operating expenses
Direct advertising expenses ⁽¹⁾		—			271,537			12,779			(763	)		283,553
General and administrative expenses ⁽¹⁾		—			145,750			3,862			—			149,612
Corporate expenses ⁽¹⁾		—			34,608			404			—			35,012
Depreciation and amortization		—			125,450			861			—			126,311
(Gain) loss on disposition of assets		—			(3,574	)		55			—			(3,519	)
		—			573,771			17,961			(763	)		590,969
Operating income (loss)		—			164,524			(1,272	)		—			163,252
Equity in (earnings) loss of subsidiaries		(160,584	)		—			—			160,584			—
Loss on extinguishment of debt		18,184			—			—			—			18,184
Interest expense (income), net		70,249			(59	)		1,431			—			71,621
Income (loss) before income tax expense		72,151			164,583			(2,703	)		(160,584	)		73,447
Income tax expense (benefit) ⁽²⁾		—			1,924			(628	)		—			1,296
Net income (loss)	$	72,151		$	162,659		$	(2,075	)	$	(160,584	)	$	72,151

Statement of Comprehensive Income
Net income (loss)	$	72,151		$	162,659		$	(2,075	)	$	(160,584	)	$	72,151
Total other comprehensive loss, net of tax		—			—			(858	)		—			(858	)
Total comprehensive income (loss)	$	72,151		$	162,659		$	(2,933	)	$	(160,584	)	$	71,293

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2019


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
Statement of Income	(unaudited)
Net revenues	$	—		$	811,655		$	23,024		$	(1,480	)	$	833,199
Operating expenses
Direct advertising expenses ⁽¹⁾		—			274,858			13,482			(1,480	)		286,860
General and administrative expenses ⁽¹⁾		—			154,132			3,577			—			157,709
Corporate expenses ⁽¹⁾		—			34,897			608			—			35,505
Depreciation and amortization		—			121,864			1,335			—			123,199
Gain on disposition of assets		—			(1,010	)		(4,151	)		—			(5,161	)
		—			584,741			14,851			(1,480	)		598,112
Operating income		—			226,914			8,173			—			235,087
Equity in (earnings) loss of subsidiaries		(242,710	)		—			—			242,710			—
Interest expense (income), net		72,863			(87	)		2,756			—			75,532
Income (loss) before income tax expense		169,847			227,001			5,417			(242,710	)		159,555
Income tax expense ⁽²⁾		—			(12,612	)		2,320			—			(10,292	)
Net income (loss)	$	169,847		$	239,613		$	3,097		$	(242,710	)	$	169,847

Statement of Comprehensive Income
Net income (loss)	$	169,847		$	239,613		$	3,097		$	(242,710	)	$	169,847
Total other comprehensive income, net of tax		—			—			546			—			546
Total comprehensive income (loss)	$	169,847		$	239,613		$	3,643		$	(242,710	)	$	170,393

(1) Caption is exclusive of depreciation and amortization.
(2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

Condensed Consolidating Statements of Cash Flows

LAMAR MEDIA CORP.

AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

(In Thousands, Except for Share Data)

Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2020


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
	(unaudited)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	165,269		$	238,800		$	5,429		$	(226,745	)	$	182,753
Cash flows from investing activities:
Acquisitions		577			(26,730	)		—			—			(26,153	)
Capital expenditures		—			(34,770	)		(1,504	)		—			(36,274	)
Proceeds from disposition of assets and investments		—			4,750			—			—			4,750
Investment in subsidiaries		(26,730	)		—			—			26,730			—
(Increase) decrease in intercompany notes receivable		(181,089	)		—			—			181,089			—
Net cash (used in) provided by investing activities		(207,242	)		(56,750	)		(1,504	)		207,819			(57,677	)
Cash flows from financing activities:
Proceeds received from revolving credit facility		655,000			—			—			—			655,000
Payment on revolving credit facility		(805,000	)		—			—			—			(805,000	)
Principal payments on long term debt		—			(182	)		—			—			(182	)
Borrowings on long term debt		—			8,750			—			—			8,750
Proceeds received from note offering		1,400,000			—			—			—			1,400,000
Payment on accounts receivable securitization program		—			—			(175,000	)		—			(175,000	)
Redemption on senior subordinated notes		(519,139	)		—			—			—			(519,139	)
Proceeds received from senior credit facility term loans		598,500			—			—			—			598,500
Payments on senior credit facility term loans		(978,097	)		—			—			—			(978,097	)
Debt issuance costs		(30,112	)		—			—			—			(30,112	)
Intercompany loan proceeds		—			3,808			177,281			(181,089	)		—
Distributions to non-controlling interest		—			—			(882	)		—			(882	)
Dividends (to) from parent		(161,208	)		(226,745	)		—			226,745			(161,208	)
Contributions from (to) parent		33,391			26,730			—			(26,730	)		33,391
Net cash provided by (used in) financing activities		193,335			(187,639	)		1,399			18,926			26,021
Effect of exchange rate changes in cash and cash equivalents		—			—			(192	)		—			(192	)
Net increase (decrease) in cash and cash equivalents		151,362			(5,589	)		5,132			—			150,905
Cash and cash equivalents at beginning of period		13,185			8,278			4,225			—			25,688
Cash and cash equivalents at end of period	$	164,547		$	2,689		$	9,357		$	—		$	176,593

LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2019


	Lamar Media Corp.			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Lamar Media Consolidated
	(unaudited)
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	158,778		$	287,842		$	(2,208	)	$	(230,068	)	$	214,344
Cash flows from investing activities:
Acquisitions		—			(78,141	)		—			—			(78,141	)
Capital expenditures		—			(59,193	)		(1,367	)		—			(60,560	)
Proceeds from disposition of assets and investments		—			2,100			—			—			2,100
Proceeds received from insurance claims		(78,141	)		—			—			78,141			—
Investment in subsidiaries		5,161			—			—			(5,161	)		—
Increase in intercompany notes receivable		(127	)		(417	)		—			—			(544	)
Net cash (used in) provided by investing activities		(73,107	)		(135,651	)		(1,367	)		72,980			(137,145	)
Cash flows from financing activities:
Proceeds received from revolving credit facility		220,000			—			—			—			220,000
Payment on revolving credit facility		(375,000	)		—			—			—			(375,000	)
Principal payments on long-term debt		(14,421	)		—			—			—			(14,421	)
Proceeds received from note offering		255,000			—			—			—			255,000
Payment on accounts receivable securitization program		—			—			(9,000	)		—			(9,000	)
Proceeds received from accounts receivable securitization program		—			—			9,000			—			9,000
Debt issuance costs		(4,435	)		—			—			—			(4,435	)
Intercompany loan proceeds		—			(8,461	)		3,300			5,161			—
Distributions to non-controlling interest		—			—			(285	)		—			(285	)
Dividends (to) from parent		(200,636	)		(230,068	)		—			230,068			(200,636	)
Contributions from (to) parent		38,135			78,141			—			(78,141	)		38,135
Net cash (used in) provided by financing activities		(81,357	)		(160,388	)		3,015			157,088			(81,642	)
Effect of exchange rate changes in cash and cash equivalents		—			—			203			—			203
Net increase (decrease) in cash and cash equivalents		4,314			(8,197	)		(357	)		—			(4,240	)
Cash and cash equivalents at beginning of period		4,029			11,655			5,310			—			20,994
Cash and cash equivalents at end of period	$	8,343		$	3,458		$	4,953		$	—		$	16,754

Long-term Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-term Debt

10. Long-term Debt

Long-term debt consists of the following at June 30, 2020 and December 31, 2019:

	June 30, 2020
	Debt			Deferred financing costs		Debt, net of deferred financing costs
Senior Credit Facility	$	598,339		$	12,697	$	585,642
Accounts Receivable Securitization Program		—			667		(667	)
5% Senior Subordinated Notes		535,000			2,786		532,214
5 3/4% Senior Notes		653,988			7,171		646,817
4 7/8% Senior Notes		400,000			5,790		394,210
4% Senior Notes		400,000			5,610		394,390
3 3/4% Senior Notes		600,000			8,394		591,606
Other notes with various rates and terms		11,687			—		11,687
		3,199,014			43,115		3,155,899
Less current maturities		(9,120	)		—		(9,120	)
Long-term debt, excluding current maturities	$	3,189,894		$	43,115	$	3,146,779

	December 31, 2019
	Debt			Deferred financing costs			Debt, net of deferred financing costs
Senior Credit Facility	$	1,127,069		$	9,077		$	1,117,992
Accounts Receivable Securitization Program		175,000			846			174,154
5% Senior Subordinated Notes		535,000			3,237			531,763
5 3/8% Senior Notes		510,000			3,502			506,498
5 3/4% Senior Notes		654,345			7,752			646,593
Other notes with various rates and terms		3,118			—			3,118
		3,004,532			24,414			2,980,118
Less current maturities		(232,595	)		(6,081	)		(226,514	)
Long-term debt, excluding current maturities	$	2,771,937		$	18,333		$	2,753,604

Senior Credit Facility

On February 6, 2020, Lamar Media entered into a Fourth Amended and Restated Credit Agreement (the “Fourth Amended and Restated Credit Agreement”) with certain of Lamar Media’s subsidiaries as guarantors, JPMorgan Chase Bank, N.A. as administrative agent and the lenders party thereto, under which the parties agreed to amend and restate Lamar Media’s existing senior credit facility. The Fourth Amended and Restated Credit Agreement amended and restated the Third Amended and Restated Credit Agreement dated as of May 15, 2017, as amended (the “Third Amended and Restated Credit Agreement”).

The new senior credit facility, as established by the Fourth Amended and Restated Credit Agreement (the “senior credit facility”), consists of (i) a new $750,000 senior secured revolving credit facility which will mature on February 6, 2025 (the “revolving credit facility”), (ii) a new $600,000 Term B loan facility (the “Term B loans”) which will mature on February 6, 2027, and (iii) an incremental facility (the “Incremental Facility”) pursuant to which Lamar Media may incur additional term loan tranches or increase its revolving credit facility subject to a pro forma secured debt ratio of 4.50 to 1.00, as well as certain other conditions including lender approval. Lamar Media borrowed all $600,000 in Term B loans on February 6, 2020. The entire amount of the Term B loans will be payable at maturity. The net proceeds from the Term B loans, together with borrowing under the revolving portion of the senior credit facility and a portion of the proceeds of the issuance of the 3 3/4% Senior Notes due 2028 and 4% Senior Notes due 2030 (both as described below), were used to repay all outstanding amounts under the Third Amended and Restated Credit Agreement, and all revolving commitments under that facility were terminated. As a result of refinancing our credit facility the Company incurred a loss on debt extinguishment of $5,608 for the six months ended June 30, 2020.

The Term B loans mature on February 6, 2027 with no required amortization payments. The Term B loans bear interest at rates based on the Adjusted LIBO Rate (“Eurodollar term loans”) or the Adjusted Base Rate (“Base Rate term loans”), at Lamar Media’s option. Eurodollar Term B loans bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 1.50%. Base Rate Term B loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 0.50%.

The revolving credit facility bears interest at rates based on the Adjusted LIBO Rate (“Eurodollar revolving loans”) or the Adjusted Base Rate (“Base Rate revolving loans”), at Lamar Media’s option. Eurodollar revolving loans bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 1.50% (or the Adjusted LIBO Rate plus 1.25% at any time the Total Debt Ratio is less than or equal to 3.25 to 1). Base Rate revolving loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 0.50% (or the Adjusted Base Rate plus 0.25% at any time the total debt ratio is less than or equal to 3.25 to 1). The guarantees, covenants, events of default and other terms of the senior credit facility apply to the Term B loans and revolving credit facility.

As of June 30, 2020, there were no borrowings outstanding under the revolving credit facility. Availability under the revolving credit facility is reduced by the amount of any letters of credit outstanding. Lamar Media had $12,784 in letters of credit outstanding as of June 30, 2020 resulting in $737,216 of availability under its revolving credit facility. Revolving credit loans may be requested under the revolving credit facility at any time prior to its maturity on February 6, 2025.

The terms of Lamar Media’s senior credit facility and the indentures 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.

The senior credit facility contains provisions that allow Lamar Media to conduct its affairs in a manner that allows Lamar Advertising to qualify and remain qualified as a REIT, including by allowing Lamar Media to make distributions to Lamar Advertising required for the Company to qualify and remain qualified for taxation as a REIT, subject to certain restrictions.

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 a specified secured debt ratio as long as a revolving credit commitment, revolving loan or letter of credit remains outstanding, and in addition, must satisfy a total debt ratio in order to incur debt, make distributions or make certain investments.

Lamar Advertising and Lamar Media were in compliance with all of the terms of their indentures and the senior credit facility provisions during the periods presented.

Accounts Receivable Securitization Program

On December 18, 2018, Lamar Media entered into a $175,000 Receivable Financing Agreement (the “Accounts Receivable Securitization Program”) with its wholly-owned special purpose entities, Lamar QRS Receivables, LLC and Lamar TRS Receivables, LLC (the “Special Purpose Subsidiaries”) maturing on December 17, 2021. The Accounts Receivable Securitization Program is limited to the availability of eligible accounts receivable collateralizing the borrowings under the agreements governing the Accounts Receivable Securitization Program.

Pursuant to two separate Purchase and Sale Agreements dated December 18, 2018, each of which is among Lamar Media as initial Servicer, certain of Lamar Media’s subsidiaries and a Special Purpose Subsidiary, the subsidiaries sold substantially all of their existing and future accounts receivable balances to the Special Purpose Subsidiaries. The Special Purpose Subsidiaries use the accounts receivable balances to collateralize loans pursuant to the Accounts Receivable Securitization Program. Lamar Media retains the responsibility of servicing the accounts receivable balances pledged as collateral under the Accounts Receivable Securitization Program and provides a performance guaranty.

On June 30, 2020, Lamar Media and the Special Purpose Subsidiaries entered into the Third Amendment (the “Amendment”) to the Receivables Financing Agreement dated December 18, 2018. The Amendment increases the maximum three month average Delinquency Ratio, Dilution Ratio and Days’ Sales Outstanding to 11.00% (from 8.00%), 7.00% (from 4.00%) and 75 days (from 65 days), respectively, for each of the months of June, July and August 2020. The Amendment does not modify any other financial covenant. Additionally, the Amendment establishes a new Minimum Funding Threshold, which requires the Special Purpose Subsidiaries to maintain minimum borrowings under the Accounts Receivable Securitization Program on any day equal to the lesser of (i) 50.00% of the aggregate Commitment of all Lenders or (ii) the Borrowing Base, though the Special Purpose Subsidiaries have the right to borrow less than the Minimum Funding Threshold during certain periods prior to December 21, 2020 at their election.

As of June 30, 2020 there was no outstanding aggregate borrowings under the Accounts Receivable Securitization Program. Lamar Media had $171,810 available for borrowing under the Accounts Receivable Securitization Program as of June 30, 2020. The commitment fees based on the amount of unused commitments under the Accounts Receivable Securitization Program were immaterial during the six months ended June 30, 2020.

The Accounts Receivable Securitization Program is accounted for as a collateralized financing activity, rather than a sale of assets, and therefore: (i) accounts receivable balances pledged as collateral are presented as assets and the borrowings are presented as liabilities on our Condensed Consolidated Balance Sheets, (ii) our Condensed Consolidated Statements of Income and Comprehensive Income reflect the associated charges for bad debt expense (a component of general and administrative expenses) related to the pledged accounts receivable and interest expense associated with the collateralized borrowings and (iii) receipts from customers related to the underlying accounts receivable are reflected as operating cash flows and borrowings and repayments under the collateralized loans are reflected as financing cash flows within our Condensed Consolidated Statements of Cash Flows.

5% Senior Subordinated Notes

On October 30, 2012, Lamar Media completed an institutional private placement of $535,000 aggregate principal amount of 5% Senior Subordinated Notes due 2023 (the “5% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $527,100.

Lamar Media may redeem the 5% Notes, in whole or in part, in cash at redemption prices specified in the 5% Notes. 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 5% Notes at a price equal to 101% of the principal amount of the 5% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

5 3/8% Senior Notes

On January 10, 2014, Lamar Media completed an institutional private placement of $510,000 aggregate principal amount of 5 3/8% Senior Notes due 2024 (the “5 3/8% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $502,300. The Company used the proceeds from the 4% Senior Notes and 3 3/4% Senior Notes to redeem in full all of the 5 3/8% Notes on February 20, 2020 at a redemption price of 101% of the aggregate principal amounts of the outstanding 5 3/8% Notes, plus accrued and unpaid interest up to but not including the redemption date. In conjunction with the redemption, the Company recorded a loss on debt extinguishment of $12,576, of which $9,139 was cash, for the period ended June 30, 2020.

5 3/4% Senior Notes

On January 28, 2016, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 5 3/4% Senior Notes due 2026 (the “5 3/4% Notes”). The institutional private placement on January 28, 2016 resulted in net proceeds to Lamar Media of approximately $394,500.

On February 1, 2019, Lamar Media completed an institutional private placement of an additional $250,000 aggregate principal amount under its 5 3/4% Notes (the “New Notes”). Other than with respect to the date of issuance, issue price and CUSIP number, the New Notes have the same terms as the 5 3/4% Notes. The net proceeds after underwriting fees and expenses, was approximately $251,500 and were used to repay a portion of the borrowings outstanding under the revolving credit facility.

At any time prior to February 1, 2021, Lamar Media may redeem some or all of the 5 3/4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon plus a make-whole premium. On or after February 1, 2021, Lamar Media may redeem the 5 3/4% Notes, in whole or in part, in cash at redemption prices specified in the 5 3/4% Notes. 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 5 3/4% Notes at a price equal to 101% of the principal amount of the 5 3/4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

4% Senior Notes

On February 6, 2020, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 4% Senior Notes due 2030 (the “4% Notes”). The institutional private placement on February 6, 2020 resulted in net proceeds to Lamar Media of approximately $395,000.

Lamar Media may redeem up to 40% of the aggregate principal amount of the 4% Notes, at any time and from time to time, at a price equal to 104% of the aggregate principal amount redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before February 15, 2023, provided that following the redemption, at least 60% of the 4% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to February 15, 2025, Lamar Media may redeem some or all of the 4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after February 15, 2025, Lamar Media may redeem the 4% Notes, in whole or in part, in cash at redemption prices specified in the 4% Notes. 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 4% Notes at a price equal to 101% of the principal amount of the 4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

3 3/4% Senior Notes

On February 6, 2020, Lamar Media completed an institutional private placement of $600,000 aggregate principal amount of 3 3/4% Senior Notes due 2028 (the “3 3/4% Notes”). The institutional private placement on February 6, 2020 resulted in net proceeds to Lamar Media of approximately $592,500.

Lamar Media may redeem up to 40% of the aggregate principal amount of 3 3/4% Notes, at any time and from time to time, at a price equal to 103.75% of the aggregate principal amount redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before February 15, 2023, provided that following the redemption, at least 60% of the 3 3/4% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to February 15, 2023, Lamar Media may redeem some or all of the 3 3/4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after February 15, 2023, Lamar Media may redeem the 3 3/4% Notes, in whole or in part, in cash at redemption prices specified in the 3 3/4% Notes. 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 3 3/4% Notes at a price equal to 101% of the principal amount of the 3 3/4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

4 7/8% Senior Notes

On May 13, 2020, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 4 7/8% Senior Notes due 2029 (the “4 7/8% Notes”). The institutional private placement on May 13, 2020 resulted in net proceeds to Lamar Media of approximately $395,000.

Lamar Media may redeem up to 40% of the aggregate principal amount of the 4 7/8% Notes, at any time and from time to time, at a price equal to 104.875% of the aggregate principal amount redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before May 15, 2023, provided that following the redemption, at least 60% of the 4 7/8% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to January 15, 2024, Lamar Media may redeem some or all of the 4 7/8% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after January 15, 2024, Lamar Media may redeem the 4 7/8% Notes, in whole or in part, in cash at redemption prices specified in the 4 7/8% Notes. 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 4 7/8% Notes at a price equal to 101% of the principal amount of the 4 7/8% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

Debt Repurchase Program

On March 16, 2020, the Company’s Board of Directors authorized Lamar Media to repurchase up to $250,000 outstanding senior or senior subordinated notes and other indebtedness outstanding from time to time under its Fourth Amended and Restated Credit Agreement. The repurchase program will expire on September 30, 2021 unless extended by the Board of Directors. There were no repurchases under the program as of June 30, 2020.

Revenues (Tables)

6 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

Disaggregation Revenue

The following table presents our disaggregated revenue by source including both revenues accounted for under ASC 840 and ASC 606 for the three and six months ended June 30, 2020 and 2019.

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Billboard Advertising	$	312,095	$	393,798	$	667,400	$	729,993
Logo Advertising		21,053		21,811		42,445		41,723
Transit Advertising		14,504		33,133		44,376		61,483
Net Revenues	$	347,652	$	448,742	$	754,221	$	833,199

Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

9. Earnings Per Share

The calculation of basic earnings per share excludes any dilutive effect of stock options, while diluted earnings per share includes the dilutive effect of stock options. There were no dilutive shares excluded from this calculation resulting from their anti-dilutive effect for the three and six months ended June 30, 2020 or 2019.

Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity

15. Stockholders’ Equity

On May 1, 2018, the Company entered into an equity distribution agreement (the “Sales Agreement”) with J.P. Morgan Securities LLC, Wells Fargo Securities LLC, and SunTrust Robinson Humphrey, Inc. as its sales agents (each a “Sales Agent”, and collectively, the “Sales Agents”). Under the terms of the Sales Agreement, the Company may, from time to time, issue and sell shares of its Class A common stock, having an aggregate offering price of up to $400,000, through the Sales Agents as either agents or principals. As of June 30, 2020, 842,412 shares of our Class A common stock have been sold under the Sales Agreement and accordingly $336,668 remained available to be sold under the Sales Agreement as of June 30, 2020.

Sales of the Class A common stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at-the-market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Global Select Market and any other existing trading market for the Class A common stock, or sales made to or through a market maker other than on an exchange. The Company has no obligation to sell any of the Class A common stock under the Sales Agreement and may at any time suspend solicitations and offers under the Sales Agreement.

On August 6, 2018, the Company filed an automatically effective shelf registration statement that registered the offer and sale of an indeterminate amount of additional shares of our Class A common stock. During the year ended December 31, 2018, the Company issued 163,137 shares of its Class A common stock in connection with acquisitions occurring during the period. The Company filed a prospectus supplement to the shelf registration statement relating to the offer and resale of such shares of Class A common stock. There were no additional shares issued under this shelf registration during the year ended December 31, 2019 and the six months ended June 30, 2020.

On March 16, 2020, the Company’s Board of Directors authorized the repurchase of up to $250,000 of the Company’s Class A common stock. The repurchase program will expire on September 30, 2021 unless extended by the Board of Directors. There were no repurchases under the program as of June 30, 2020.

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net revenues	$ 347,652	$ 448,742	$ 754,221	$ 833,199
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	$ 134,059	$ 146,390	$ 283,553	$ 286,860
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization)	$ 67,408	$ 78,416	$ 149,612	$ 157,709
Corporate expenses (exclusive of depreciation and amortization)	16,750	18,674	35,241	35,703
Depreciation and amortization	63,998	61,693	126,311	123,199
Gain on disposition of assets	(1,015)	(537)	(3,519)	(5,161)
Total Operating Expenses	281,200	304,636	591,198	598,310
Operating income	66,452	144,106	163,023	234,889
Other expense (income)
Loss on extinguishment of debt	5		18,184
Interest income	(179)	(232)	(369)	(385)
Interest expense	35,437	38,322	71,990	75,917
Non-operating (Income) Expenses	35,263	38,090	89,805	75,532
Income before income tax expense	31,189	106,016	73,218	159,357
Income tax (benefit) expense	(240)	(12,380)	1,296	(10,292)
Net income	31,429	118,396	71,922	169,649
Cash dividends declared and paid on preferred stock	91	91	182	182
Net income applicable to common stock	$ 31,338	$ 118,305	$ 71,740	$ 169,467
Earnings per share:
Basic earnings per share	$ 0.31	$ 1.18	$ 0.71	$ 1.70
Diluted earnings per share	0.31	1.18	0.71	1.69
Cash dividends declared per share of common stock	$ 0.50	$ 0.96	$ 1.50	$ 1.92
Weighted average common shares used in computing earnings per share:
Weighted average common shares outstanding basic	100,765,681	100,012,827	100,677,510	99,862,452
Weighted average common shares outstanding diluted	100,861,881	100,222,082	100,818,347	100,058,054
Statements of Comprehensive Income
Net income	$ 31,429	$ 118,396	$ 71,922	$ 169,649
Other comprehensive income (loss)
Foreign currency translation adjustments	740	287	(858)	546
Comprehensive income	32,169	118,683	71,064	170,195
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Net revenues	$ 347,652	$ 448,742	$ 754,221	$ 833,199
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	$ 134,059	$ 146,390	$ 283,553	$ 286,860
Type of Cost Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization)	$ 67,408	$ 78,416	$ 149,612	$ 157,709
Corporate expenses (exclusive of depreciation and amortization)	16,645	18,585	35,012	35,505
Depreciation and amortization	63,998	61,693	126,311	123,199
Gain on disposition of assets	(1,015)	(537)	(3,519)	(5,161)
Total Operating Expenses	281,095	304,547	590,969	598,112
Operating income	66,557	144,195	163,252	235,087
Other expense (income)
Loss on extinguishment of debt	5		18,184
Interest income	(179)	(232)	(369)	(385)
Interest expense	35,437	38,322	71,990	75,917
Non-operating (Income) Expenses	35,263	38,090	89,805	75,532
Income before income tax expense	31,294	106,105	73,447	159,555
Income tax (benefit) expense	(240)	(12,380)	1,296	(10,292)
Net income	31,534	118,485	72,151	169,847
Statements of Comprehensive Income
Net income	31,534	118,485	72,151	169,847
Other comprehensive income (loss)
Foreign currency translation adjustments	740	287	(858)	546
Comprehensive income	$ 32,274	$ 118,772	$ 71,293	$ 170,393

New Accounting Pronouncements

6 Months Ended

Jun. 30, 2020

New Accounting Pronouncements And Changes In Accounting Principles [Abstract]

New Accounting Pronouncements

12. New Accounting Pronouncements

Leases

In February 2016, the FASB established Topic 842, Leases, by issuing Accounting Standards Update (ASU) No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10 and ASU No. 2019-01, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The new standard establishes a right of use model (ROU) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than twelve months. Leases are classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement.

We adopted the new standard effective January 1, 2019 using a modified retrospective transition approach, applying the new standard to all leases existing at the date of initial application. An entity was permitted to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. If an entity chooses the second option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The entity must also recast its comparative period financial statements and provide the disclosures required by the new standard for the comparative periods. Consequently, financial information was not updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019.

The new standard provided a number of optional practical expedients in transition. We elected the ‘package of practical expedients’, which permitted us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We elected the practical expedient pertaining to land easements. We also elected the short-term lease recognition exemption for certain of our vehicle agreements. This means, for those leases that qualify, we will not recognize ROU assets or lease liabilities.

Upon adoption, we recognized additional operating liabilities of $1.2 billion, with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under current leasing standards for our existing operating leases. In addition to the increase to the operating lease liabilities and right of use assets, Topic 842 also resulted in reclassifying the presentation of prepaid and deferred rent to operating lease right of use assets. The Company did not have any changes to its opening balance of retained earnings for the adoption of this update.

Other recently released pronouncements

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments, and additional changes modifications, clarifications, or interpretations related to this guidance thereafter, which require a reporting entity to estimate credit losses on certain types of financial instruments, and present assets held at amortized cost and available-for-sale debt securities at the amount expected to be collected. The new guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 and the impact of the adoption was not material to the Company’s consolidated financial statements. As of June 30, 2020, our allowance for credit losses considered the current and future impacts caused by the COVID-19 pandemic, based on available information to date. The Company will continue to actively monitor the impact of COVID-19 on expected credit losses.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI http://asc.fasb.org/topic&trid=2122394

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=112272810&loc=SL108384541-122693

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (i)(2)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (j)
-URI http://asc.fasb.org/extlink&oid=113356391&loc=SL49131195-203048

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI http://asc.fasb.org/extlink&oid=112272810&loc=d3e31137-122693

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI http://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)

+ Details

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of ESPP Share Activity

The following is a summary of 2019 ESPP share activity for the six months ended June 30, 2020:

	Shares
Available for future purchases, January 1, 2020		438,434
Additional shares reserved under 2019 ESPP		86,093
Purchases		(89,848	)
Available for future purchases, June 30, 2020		434,679

Revenues

6 Months Ended

Jun. 30, 2020

Revenue From Contract With Customer [Abstract]

Revenues

2. Revenues

Advertising revenues: The majority of our revenues are derived from contracts for advertising space on billboard, logo and transit displays. Our contracts commencing prior to January 1, 2019 are accounted for under ASC 840, Leases. The majority of our contracts amended or commencing on or after January 1, 2019 are accounted for under ASC 606, Revenue. The contract revenues, under ASC 840, Leases and ASC 606, Revenue, are recognized ratably over their contract life. Costs to fulfill a contract, which include our costs to install advertising copy onto billboards, are capitalized and amortized to direct advertising expenses (exclusive of depreciation and amortization) in the Condensed Consolidated Statements of Income and Comprehensive Income.

Other revenues: Our other component of revenue primarily consists of production services which includes creating and printing the advertising copy. Revenue for production contracts is recognized under ASC 606. Contract revenues for production services are recognized upon satisfaction of the contract which is typically less than one week.

Arrangements with multiple performance obligations: Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on the relative standalone selling price. We determine standalone selling prices based on the prices charged to customers using expected cost plus margin.

Deferred revenues: We record deferred revenues when cash payments are received or due in advance of our performance obligation. The term between invoicing and when a payment is due is not significant. For certain services we require payment before the product or services are delivered to the customer. The balance of deferred income is considered short-term and will be recognized in revenue within twelve months.

Practical expedients and exemptions: The Company is utilizing the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within direct advertising expense (exclusive of depreciation and amortization). We do not disclose the value of unsatisfied performance obligations as the majority of our contracts with customers have an original expected length of less than one year. For contracts with customers which exceed one year, the future amount to be invoiced to the customer corresponds directly with the value to be received by the customer.

The following table presents our disaggregated revenue by source including both revenues accounted for under ASC 840 and ASC 606 for the three and six months ended June 30, 2020 and 2019.

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Billboard Advertising	$	312,095	$	393,798	$	667,400	$	729,993
Logo Advertising		21,053		21,811		42,445		41,723
Transit Advertising		14,504		33,133		44,376		61,483
Net Revenues	$	347,652	$	448,742	$	754,221	$	833,199

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

4. Stock-Based Compensation

Equity Incentive Plan. Lamar Advertising’s 1996 Equity Incentive Plan, as amended, (the “Incentive Plan”) has reserved 17.5 million shares of Class A common stock for issuance to directors and employees, including shares underlying granted options 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 and include 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 on the date of grant.

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 and highly subjective assumptions, including expected term and expected volatility. The Company granted options for an aggregate of 32,000 shares of its Class A common stock during the six months ended June 30, 2020. At June 30, 2020 a total of 2,470,063 shares were available for future grant.

Stock Purchase Plan. Lamar Advertising’s 2009 Employee Stock Purchase Plan (the “2009 ESPP”), approved by our shareholders on May 28, 2009, expired by its terms on June 30, 2019. On May 30, 2019, our shareholders approved Lamar Advertising’s 2019 Employee Stock Purchase Plan (the “2019 ESPP”). The 2019 ESPP became effective upon the expiration of the 2009 ESPP. The number of shares of Class A common stock available under the 2019 ESPP was automatically increased by 86,093 shares on January 1, 2020 pursuant to the automatic increase provisions of the 2019 ESPP.

The following is a summary of 2019 ESPP share activity for the six months ended June 30, 2020:

	Shares
Available for future purchases, January 1, 2020		438,434
Additional shares reserved under 2019 ESPP		86,093
Purchases		(89,848	)
Available for future purchases, June 30, 2020		434,679

Performance-based compensation. Unrestricted shares of our Class A common stock may be awarded to key officers, employees and directors under the Incentive Plan. The number of shares to be issued, if any, will be dependent on the level of achievement of performance measures for key officers and employees, as determined by the Company’s Compensation Committee based on our 2020 results. Any shares issued based on the achievement of performance goals will be issued in the first quarter of 2021. 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. For the six months ended June 30, 2020, the Company has recorded $3,494 as stock-based compensation expense related to performance-based awards. In addition, each non-employee director automatically receives a restricted stock award of our Class A common stock upon election or re-election. The awards vest 50% on grant date and 50% on the last day of the directors’ one year term. The Company recorded $492 in stock-based compensation expense related to these awards for the six months ended June 30, 2020.

Long-term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt	$ 3,199,014	$ 3,004,532
Debt, Less current maturities	(9,120)	(232,595)
Debt, excluding current maturities	3,189,894	2,771,937
Deferred financing costs	43,115	24,414
Deferred financing costs, Less current maturities	0	(6,081)
Deferred financing costs, excluding current maturities	43,115	18,333
Debt, net of deferred financing costs	3,155,899	2,980,118
Debt, net of deferred financing costs, Less current maturities	(9,120)	(226,514)
Debt, net of deferred financing costs, excluding current maturities	3,146,779	2,753,604
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt	598,339	1,127,069
Deferred financing costs	12,697	9,077
Debt, net of deferred financing costs	585,642	1,117,992
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt	535,000	535,000
Deferred financing costs	2,786	3,237
Debt, net of deferred financing costs	532,214	531,763
Accounts Receivable Securitization Program [Member]
Debt Instrument [Line Items]
Debt	0	175,000
Deferred financing costs	667	846
Debt, net of deferred financing costs	(667)	174,154
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	653,988	654,345
Deferred financing costs	7,171	7,752
Debt, net of deferred financing costs	646,817	646,593
4 7/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	400,000
Deferred financing costs	5,790
Debt, net of deferred financing costs	394,210
Other Notes with Various Rates and Terms [Member]
Debt Instrument [Line Items]
Debt	11,687	3,118
Debt, net of deferred financing costs	11,687	3,118
4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	400,000
Deferred financing costs	5,610
Debt, net of deferred financing costs	394,390
3 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	600,000
Deferred financing costs	8,394
Debt, net of deferred financing costs	$ 591,606
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt		510,000
Deferred financing costs		3,502
Debt, net of deferred financing costs		$ 506,498

Depreciation and Amortization (Tables)

6 Months Ended

Jun. 30, 2020

Depreciation And Amortization [Abstract]

Depreciation and Amortization Expense Excluded from Operating Expenses in its Condensed Consolidated Statements of Income and Comprehensive Income

The amounts of depreciation and amortization expense excluded from the following operating expenses in its Condensed Consolidated Statements of Income and Comprehensive Income are:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Direct advertising expenses	$	60,142	$	58,200	$	118,839	$	116,315
General and administrative expenses		1,151		1,140		2,432		2,261
Corporate expenses		2,705		2,353		5,040		4,623
	$	63,998	$	61,693	$	126,311	$	123,199

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 210,677	$ 237,049
Cash flows from investing activities:
Acquisitions	(26,153)	(78,141)
Capital expenditures	(36,274)	(60,560)
Proceeds from disposition of assets and investments	4,750	2,100
Net cash (used in) provided by investing activities	(57,677)	(137,145)
Cash flows from financing activities:
Payments on revolving credit facility	(805,000)	(375,000)
Principal payments on long term debt	(182)	(14,421)
Borrowings on long term debt	8,750
Proceeds received from note offering	1,400,000	255,000
Payments on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from senior credit facility term loans	598,500
Payments on senior credit facility term loans	(978,097)
Proceeds received from accounts receivable securitization program		9,000
Debt issuance costs	(30,112)	(4,435)
Distributions to non-controlling interest	(882)	(285)
Net cash used in financing activities	(1,903)	(104,347)
Effect of exchange rate changes in cash and cash equivalents	(192)	203
Net increase (decrease) in cash and cash equivalents	150,905	(4,240)
Cash and cash equivalents at beginning of period	26,188	21,494
Cash and cash equivalents at end of period	177,093	17,254
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	182,753	214,344
Cash flows from investing activities:
Acquisitions	(26,153)	(78,141)
Capital expenditures	(36,274)	(60,560)
Proceeds from disposition of assets and investments	4,750	2,100
Decrease (increase) in intercompany notes receivable		(544)
Net cash (used in) provided by investing activities	(57,677)	(137,145)
Cash flows from financing activities:
Proceeds received from revolving credit facility	655,000	220,000
Payments on revolving credit facility	(805,000)	(375,000)
Principal payments on long term debt	(182)	(14,421)
Borrowings on long term debt	8,750
Proceeds received from note offering	1,400,000	255,000
Payments on accounts receivable securitization program	(175,000)	(9,000)
Redemption on senior subordinated notes	(519,139)
Proceeds received from senior credit facility term loans	598,500
Payments on senior credit facility term loans	(978,097)
Proceeds received from accounts receivable securitization program		9,000
Debt issuance costs	(30,112)	(4,435)
Distributions to non-controlling interest	(882)	(285)
Dividends (to) from parent	(161,208)	(200,636)
Contributions from (to) parent	33,391	38,135
Net cash used in financing activities	26,021	(81,642)
Effect of exchange rate changes in cash and cash equivalents	(192)	203
Net increase (decrease) in cash and cash equivalents	150,905	(4,240)
Cash and cash equivalents at beginning of period	25,688	20,994
Cash and cash equivalents at end of period	176,593	16,754
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Lamar Media [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	165,269	158,778
Cash flows from investing activities:
Acquisitions	577
Proceeds received from insurance claims		(78,141)
Investment in subsidiaries	(26,730)	5,161
Decrease (increase) in intercompany notes receivable	(181,089)	(127)
Net cash (used in) provided by investing activities	(207,242)	(73,107)
Cash flows from financing activities:
Proceeds received from revolving credit facility	655,000	220,000
Payments on revolving credit facility	(805,000)	(375,000)
Principal payments on long term debt		(14,421)
Proceeds received from note offering	1,400,000	255,000
Redemption on senior subordinated notes	(519,139)
Proceeds received from senior credit facility term loans	598,500
Payments on senior credit facility term loans	(978,097)
Debt issuance costs	(30,112)	(4,435)
Dividends (to) from parent	(161,208)	(200,636)
Contributions from (to) parent	33,391	38,135
Net cash used in financing activities	193,335	(81,357)
Net increase (decrease) in cash and cash equivalents	151,362	4,314
Cash and cash equivalents at beginning of period	13,185	4,029
Cash and cash equivalents at end of period	164,547	8,343
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	238,800	287,842
Cash flows from investing activities:
Acquisitions	(26,730)	(78,141)
Capital expenditures	(34,770)	(59,193)
Proceeds from disposition of assets and investments	4,750	2,100
Decrease (increase) in intercompany notes receivable		(417)
Net cash (used in) provided by investing activities	(56,750)	(135,651)
Cash flows from financing activities:
Principal payments on long term debt	(182)
Borrowings on long term debt	8,750
Intercompany loan proceeds	3,808	(8,461)
Dividends (to) from parent	(226,745)	(230,068)
Contributions from (to) parent	26,730	78,141
Net cash used in financing activities	(187,639)	(160,388)
Net increase (decrease) in cash and cash equivalents	(5,589)	(8,197)
Cash and cash equivalents at beginning of period	8,278	11,655
Cash and cash equivalents at end of period	2,689	3,458
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Reportable Legal Entities [Member] \| Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	5,429	(2,208)
Cash flows from investing activities:
Capital expenditures	(1,504)	(1,367)
Net cash (used in) provided by investing activities	(1,504)	(1,367)
Cash flows from financing activities:
Payments on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from accounts receivable securitization program		9,000
Intercompany loan proceeds	177,281	3,300
Distributions to non-controlling interest	(882)	(285)
Net cash used in financing activities	1,399	3,015
Effect of exchange rate changes in cash and cash equivalents	(192)	203
Net increase (decrease) in cash and cash equivalents	5,132	(357)
Cash and cash equivalents at beginning of period	4,225	5,310
Cash and cash equivalents at end of period	9,357	4,953
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] \| Eliminations [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(226,745)	(230,068)
Cash flows from investing activities:
Proceeds received from insurance claims		78,141
Investment in subsidiaries	26,730	(5,161)
Decrease (increase) in intercompany notes receivable	181,089
Net cash (used in) provided by investing activities	207,819	72,980
Cash flows from financing activities:
Intercompany loan proceeds	(181,089)	5,161
Dividends (to) from parent	226,745	230,068
Contributions from (to) parent	(26,730)	(78,141)
Net cash used in financing activities	$ 18,926	$ 157,088

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Summary of Maturities of Operating Lease Liabilities

The following is a summary of the maturities of our operating lease liabilities as of June 30, 2020:

2020	$	114,518
2021		206,414
2022		181,916
2023		158,968
2024		141,902
Thereafter		854,924
Total undiscounted operating lease payments		1,658,642
Less: Imputed interest		(430,667	)
Total operating lease liabilities	$	1,227,975

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Exercise of stock options	13,642	14,609	85,379	186,521
Issuance of common stock through performance stock awards		272,813		286,350
Common stock purchase plan	31,114	58,734	31,455	44,161
Purchase of treasury stock	1,196	110,520		111,835
Common stock dividends/distributions	$ 0.50	$ 1.00	$ 0.96	$ 0.96
Preferred stock dividend shares	$ 15.95	$ 15.95	$ 15.95	$ 15.95
Additional Paid-in Capital [Member]
Exercise of stock options	13,642	14,609	85,379	186,521
Issuance of common stock through performance stock awards		272,813		286,350
Common stock purchase plan	31,114	58,734	31,455	44,161
Treasury Stock [Member]
Purchase of treasury stock	1,196	110,520		111,835
Accumulated Deficit [Member]
Common stock dividends/distributions	$ 0.50	$ 1.00	$ 0.96	$ 0.96
Preferred stock dividend shares	$ 15.95	$ 15.95	$ 15.95	$ 15.95

Depreciation and Amortization - Depreciation and Amortization Expense Excluded from Operating Expenses in its Condensed Consolidated Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 63,998	$ 61,693	$ 126,311	$ 123,199
Direct Advertising Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	60,142	58,200	118,839	116,315
General and Administrative Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	1,151	1,140	2,432	2,261
Corporate Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 2,705	$ 2,353	$ 5,040	$ 4,623

Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consists of the following at June 30, 2020 and December 31, 2019:

	June 30, 2020
	Debt			Deferred financing costs		Debt, net of deferred financing costs
Senior Credit Facility	$	598,339		$	12,697	$	585,642
Accounts Receivable Securitization Program		—			667		(667	)
5% Senior Subordinated Notes		535,000			2,786		532,214
5 3/4% Senior Notes		653,988			7,171		646,817
4 7/8% Senior Notes		400,000			5,790		394,210
4% Senior Notes		400,000			5,610		394,390
3 3/4% Senior Notes		600,000			8,394		591,606
Other notes with various rates and terms		11,687			—		11,687
		3,199,014			43,115		3,155,899
Less current maturities		(9,120	)		—		(9,120	)
Long-term debt, excluding current maturities	$	3,189,894		$	43,115	$	3,146,779

	December 31, 2019
	Debt			Deferred financing costs			Debt, net of deferred financing costs
Senior Credit Facility	$	1,127,069		$	9,077		$	1,117,992
Accounts Receivable Securitization Program		175,000			846			174,154
5% Senior Subordinated Notes		535,000			3,237			531,763
5 3/8% Senior Notes		510,000			3,502			506,498
5 3/4% Senior Notes		654,345			7,752			646,593
Other notes with various rates and terms		3,118			—			3,118
		3,004,532			24,414			2,980,118
Less current maturities		(232,595	)		(6,081	)		(226,514	)
Long-term debt, excluding current maturities	$	2,771,937		$	18,333		$	2,753,604

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Asset Retirement Obligations - Information Related to Asset Retirement Obligations (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Beginning Balance	$ 226,137
Additions to asset retirement obligations	421
Accretion expense	2,129
Liabilities settled	(3,742)
Ending Balance	$ 224,945

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee Lease Description [Line Items]
Operating lease, cost	$ 78,331	$ 77,816	$ 158,734	$ 155,166
Variable lease, cost	10,300	18,933	27,744	36,017
Gain (loss) on disposition of assets	1,015	537	3,519	5,161
Operating lease, cash payments			161,460	180,487
Direct advertising expenses (exclusive of depreciation and amortization)	$ 134,059	146,390	$ 283,553	286,860
Operating lease, weighted average remaining lease term	12 years 1 month 6 days		12 years 1 month 6 days
Operating lease, weighted average discount rate	4.60%		4.60%
Leased assets obtained in exchange for operating lease liability			$ 9,991	8,671
Advertising [Member]
Lessee Lease Description [Line Items]
Direct advertising expenses (exclusive of depreciation and amortization)	$ 1,249	1,097	2,507	2,226
Termination of Lease Agreements [Member]
Lessee Lease Description [Line Items]
Gain (loss) on disposition of assets	$ (266)	$ (193)	$ (317)	$ 3,911

Dividends/Distributions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Dividends [Line Items]
Dividends declared, per share	$ 0.50	$ 1.00	$ 0.96	$ 0.96	$ 1.50	$ 1.92
Distributions paid, preferred stockholders	$ 91		$ 91		$ 182	$ 182
Distributions paid, preferred stockholders, per share	$ 15.95		$ 15.95		$ 31.90	$ 31.90
Distributions paid	$ 50,396		$ 96,039		$ 151,083	$ 191,954
Distributions paid, per share	$ 0.50		$ 0.96		$ 1.50	$ 1.92

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

3. Leases

During the three months ended June 30, 2020 and 2019, we had operating lease costs of $78,331 and $77,816, respectively, and variable lease costs of $10,300 and $18,933, respectively. During the six months ended June 30, 2020 and 2019, we had operating lease costs of $158,734 and $155,166, respectively, and variable lease costs of $27,744 and $36,017, respectively. These operating lease costs are recorded in direct advertising expenses (exclusive of depreciation and amortization). Also, for the three months ended June 30, 2020 and 2019, we recorded a loss of $266 and $193, respectively, in (gain) loss of disposition of assets related to the amendment and termination of lease agreements. For the six months ended June 30, 2020 and 2019, we recorded a loss of $317 and a gain of $3,911, respectively, in (gain) loss of disposition of assets related to the amendment and termination of lease agreements. Cash payments of $161,460 and $180,487 were made reducing our operating lease liabilities for the six months ended June 30, 2020 and 2019, respectively, and are included in cash flows provided by operating activities in the Condensed Consolidated Statements of Cash Flows.

We elected the short-term lease exemption which applies to certain of our vehicle agreements. This election allows the Company to not recognize lease right of use assets (ROU assets) or lease liabilities for agreements with a term of twelve months or less. We recorded $1,249 and $1,097 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the three months ended June 30, 2020 and 2019, respectively. We recorded $2,507 and $2,226 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the six months ended June 30, 2020 and 2019, respectively.

Our operating leases have a weighted-average remaining lease term of 12.1 years. The weighted-average discount rate of our operating leases is 4.6%. Also, during the periods ended June 30, 2020 and 2019, we obtained $9,991 and $8,671, respectively, of leased assets in exchange for new operating lease liabilities, which includes liabilities obtained through acquisitions.

The following is a summary of the maturities of our operating lease liabilities as of June 30, 2020:

2020	$	114,518
2021		206,414
2022		181,916
2023		158,968
2024		141,902
Thereafter		854,924
Total undiscounted operating lease payments		1,658,642
Less: Imputed interest		(430,667	)
Total operating lease liabilities	$	1,227,975

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2020 USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2020	$ 114,518
2021	206,414
2022	181,916
2023	158,968
2024	141,902
Thereafter	854,924
Total undiscounted operating lease payments	1,658,642
Less: Imputed interest	(430,667)
Total operating lease liabilities	$ 1,227,975

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

The following is a summary of intangible assets at June 30, 2020 and December 31, 2019:

	Estimated		June 30, 2020				December 31, 2019
	Life (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable intangible assets:
Customer lists and contracts	7—10		$	644,330	$	551,309	$	641,714	$	539,405
Non-competition agreements	3—15			66,101		64,512		66,014		64,379
Site locations		15		2,399,355		1,550,917		2,384,520		1,509,335
Other	2—15			49,974		37,826		49,864		36,749
			$	3,159,760	$	2,204,564	$	3,142,112	$	2,149,868
Unamortizable intangible assets:
Goodwill			$	2,165,697	$	253,536	$	2,165,810	$	253,536

Depreciation and Amortization

6 Months Ended

Jun. 30, 2020

Depreciation And Amortization [Abstract]

Depreciation and Amortization

5. Depreciation and Amortization

The Company includes all categories of depreciation and amortization on a separate line in its Condensed Consolidated Statements of Income and Comprehensive Income. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Condensed Consolidated Statements of Income and Comprehensive Income are:

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Direct advertising expenses	$	60,142	$	58,200	$	118,839	$	116,315
General and administrative expenses		1,151		1,140		2,432		2,261
Corporate expenses		2,705		2,353		5,040		4,623
	$	63,998	$	61,693	$	126,311	$	123,199

Distribution Restrictions - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Balance of permitted transfers to parent company	$ 3,429,654	$ 3,389,763
Description of provisions on senior credit facility transfers to Lamar Advertising subject to additional restrictions	(i) the total debt ratio is less than 7.0 to 1 and (ii) the secured debt ratio does not exceed 4.5 to 1.
Debt ratio	7.0
Debt ratio related to actual position on senior credit facility	7.0
Available cumulative credit	$ 2,180,134
Secured Debt [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	4.5
LAMAR MEDIA CORP [Member] \| Secured Debt [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	4.5