We compute depreciation using the straight-line method over estimated useful lives as follows:
Buildings and improvements
15 to 45 years
Leasehold improvementsShorter of term of lease or useful life
Broadcast transmission towers and related equipment
15 to 35 years
Other broadcast and program production equipment
3 to 15 years
Computer hardware
3 to 5 years
Office and other equipment
3 to 10 years
Property and equipment consisted of the following:
As of December 31,
(in thousands)20252024
Land and improvements$57,354 $65,212 
Buildings and improvements258,375 275,844 
Equipment639,906 646,684 
Computer software31,928 33,389 
Total987,563 1,021,129 
Accumulated depreciation(579,597)(567,229)
Net property and equipment$407,966 $453,900 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Mar 12, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 28, 2020
2018Mar 1, 2019
2017Feb 28, 2018
2016Feb 24, 2017
2015Feb 26, 2016

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.