Property and equipment are carried at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the related estimated useful lives. Property and equipment consist of the following:
As of December 31,Estimated
Useful Lives
20242023
(in thousands)
Land and improvements$3,592 $3,375 — 
Buildings3,247 3,243 31 years
Transmitters and tower equipment17,777 17,212 
7‑31 years
Equipment11,513 10,204 
3‑7 years
Furniture and fixtures1,197 897 6 years
Software and web development7,468 5,629 3 years
Leasehold improvements8,243 9,841 Lesser of useful life or lease term
Construction-in-progress760 14 — 
53,797 50,415 
Less: accumulated depreciation (25,975)(21,754)
Property and equipment, net$27,822 $28,661 
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Historical Timeline

Fiscal YearFiled
2024Mar 27, 2025Showing above
2022Jun 30, 2023
2019Apr 29, 2020
2018Mar 18, 2019
2017Mar 16, 2018
2016Mar 10, 2017
2015Mar 14, 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.