Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended |
Jun. 30, 2014 | |
Document And Entity Information [Abstract] | ' |
Document Type | 'S-4/A |
Amendment Flag | 'true |
Amendment Description | 'Amendment completed to address comments provided by Division of Corporation Finance of the Securities and Exchange Commission with respect to the Company's registration statement on Form S-4. Amendment also includes second quarter financial statements. |
Document Period End Date | 30-Jun-14 |
Trading Symbol | 'LAMR |
Entity Registrant Name | 'LAMAR MEDIA CORP/DE |
Entity Central Index Key | '0000899045 |
Entity Filer Category | 'Non-accelerated Filer |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Current assets: | ' | ' | ' |
Cash and cash equivalents | $34,417 | $33,212 | $58,911 |
Receivables, net of allowance for doubtful accounts | 184,405 | 161,741 | 159,829 |
Prepaid expenses | 62,800 | 42,048 | 41,132 |
Deferred income tax assets | 9,973 | 10,378 | 10,817 |
Other current assets | 40,566 | 34,679 | 30,546 |
Total current assets | 332,161 | 282,058 | 301,235 |
Property, plant and equipment | 3,077,518 | 3,036,456 | 2,940,449 |
Less accumulated depreciation and amortization | -1,981,276 | -1,914,527 | -1,760,090 |
Net property, plant and equipment | 1,096,242 | 1,121,929 | 1,180,359 |
Goodwill | 1,503,664 | 1,503,553 | 1,485,150 |
Intangible assets, net | 371,908 | 419,385 | 468,312 |
Deferred financing costs, net of accumulated amortization | 34,680 | 30,290 | 37,787 |
Other assets | 37,815 | 44,403 | 41,187 |
Total assets | 3,376,470 | 3,401,618 | 3,514,030 |
Current liabilities: | ' | ' | ' |
Trade accounts payable | 18,119 | 13,341 | 13,539 |
Current maturities of long-term debt | 15,636 | 55,935 | 33,134 |
Accrued expenses | 97,130 | 98,924 | 99,461 |
Deferred income | 104,357 | 77,153 | 72,974 |
Total current liabilities | 235,242 | 245,353 | 219,108 |
Long-term debt | 1,912,231 | 1,882,867 | 2,127,720 |
Deferred income tax liabilities | 117,337 | 119,150 | 99,530 |
Asset retirement obligation | 202,773 | 200,831 | 189,659 |
Other liabilities | 23,232 | 20,471 | 16,388 |
Total liabilities | 2,490,815 | 2,468,672 | 2,652,405 |
Stockholder's equity: | ' | ' | ' |
Additional paid-in capital | 2,494,395 | 2,470,375 | 2,432,518 |
Accumulated comprehensive income | 4,152 | 3,867 | 5,978 |
Accumulated deficit | -716,187 | -647,577 | -687,351 |
Cost of shares held in treasury, Value | -896,818 | -893,831 | -889,631 |
Stockholder's equity | 885,655 | 932,946 | 861,625 |
Total liabilities and stockholder's equity | 3,376,470 | 3,401,618 | 3,514,030 |
LAMAR MEDIA CORP [Member] | ' | ' | ' |
Current assets: | ' | ' | ' |
Cash and cash equivalents | 33,917 | 32,712 | 58,411 |
Receivables, net of allowance for doubtful accounts | 184,405 | 161,741 | 159,829 |
Prepaid expenses | 62,800 | 42,048 | 41,132 |
Deferred income tax assets | 9,973 | 10,378 | 10,817 |
Other current assets | 40,566 | 34,679 | 30,546 |
Total current assets | 331,661 | 281,558 | 300,735 |
Property, plant and equipment | 3,077,518 | 3,036,456 | 2,940,449 |
Less accumulated depreciation and amortization | -1,981,276 | -1,914,527 | -1,760,090 |
Net property, plant and equipment | 1,096,242 | 1,121,929 | 1,180,359 |
Goodwill | 1,493,512 | 1,493,401 | 1,474,998 |
Intangible assets, net | 371,440 | 418,919 | 467,837 |
Deferred financing costs, net of accumulated amortization | 32,727 | 28,336 | 35,834 |
Other assets | 32,530 | 39,118 | 35,901 |
Total assets | 3,358,112 | 3,383,261 | 3,495,664 |
Current liabilities: | ' | ' | ' |
Trade accounts payable | 18,119 | 13,341 | 13,539 |
Current maturities of long-term debt | 15,636 | 55,935 | 33,134 |
Accrued expenses | 93,461 | 95,632 | 96,860 |
Deferred income | 104,357 | 77,153 | 72,974 |
Total current liabilities | 231,573 | 242,061 | 216,507 |
Long-term debt | 1,912,231 | 1,882,867 | 2,127,720 |
Deferred income tax liabilities | 150,806 | 152,541 | 132,785 |
Asset retirement obligation | 202,773 | 200,831 | 189,659 |
Other liabilities | 23,232 | 20,471 | 16,388 |
Total liabilities | 2,520,615 | 2,498,771 | 2,683,059 |
Stockholder's equity: | ' | ' | ' |
Common stock, value | ' | ' | ' |
Additional paid-in capital | 2,668,035 | 2,644,015 | 2,606,157 |
Accumulated comprehensive income | 4,152 | 3,867 | 5,978 |
Accumulated deficit | -1,834,690 | -1,763,392 | -1,799,530 |
Stockholder's equity | 837,497 | 884,490 | 812,605 |
Total liabilities and stockholder's equity | 3,358,112 | 3,383,261 | 3,495,664 |
Series AA Preferred Stock [Member] | ' | ' | ' |
Stockholder's equity: | ' | ' | ' |
Preferred stock, value | ' | ' | ' |
Preferred Class A [Member] | ' | ' | ' |
Stockholder's equity: | ' | ' | ' |
Preferred stock, value | ' | ' | ' |
Common Class A [Member] | ' | ' | ' |
Stockholder's equity: | ' | ' | ' |
Common stock, value | 98 | 97 | 96 |
Common Class B [Member] | ' | ' | ' |
Stockholder's equity: | ' | ' | ' |
Common stock, value | $15 | $15 | $15 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | |||
Allowance for doubtful accounts | $8,113 | $7,615 | $7,615 |
Accumulated amortization | 12,448 | 25,180 | 25,867 |
Shares held in treasury | 17,270,930 | 17,216,635 | 17,119,205 |
Series AA Preferred Stock [Member] | ' | ' | ' |
Preferred stock, par value | $0.00 | $0.00 | $0.00 |
Preferred stock, cumulative dividends | $63.80 | $63.80 | $63.80 |
Preferred stock, shares authorized | 5,720 | 5,720 | 5,720 |
Preferred stock, shares issued | 5,720 | 5,720 | 5,720 |
Preferred stock, shares outstanding | 5,720 | 5,720 | 5,720 |
Preferred Class A [Member] | ' | ' | ' |
Preferred stock, par value | $638 | $638 | $638 |
Preferred stock, cumulative dividends | $63.80 | $63.80 | $63.80 |
Preferred stock, shares authorized | 10,000 | 10,000 | 10,000 |
Preferred stock, shares issued | 0 | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 | 0 |
Common Class A [Member] | ' | ' | ' |
Common stock, par value | $0.00 | $0.00 | $0.00 |
Common stock, shares authorized | 175,000,000 | 175,000,000 | 175,000,000 |
Common stock, shares issued | 97,938,299 | 97,426,144 | 96,082,868 |
Common stock, shares outstanding | 80,667,369 | 80,209,509 | 78,963,663 |
Common Class B [Member] | ' | ' | ' |
Common stock, par value | $0.00 | $0.00 | $0.00 |
Common stock, shares authorized | 37,500,000 | 37,500,000 | 37,500,000 |
Common stock, shares issued | 14,610,365 | 14,610,365 | 14,910,365 |
Common stock, shares outstanding | 14,610,365 | 14,610,365 | 14,910,365 |
LAMAR MEDIA CORP [Member] | ' | ' | ' |
Allowance for doubtful accounts | 8,113 | 7,615 | 7,615 |
Accumulated amortization | $3,160 | $15,893 | $16,579 |
Common stock, par value | $0.01 | $0.01 | $0.01 |
Common stock, shares authorized | 3,000 | 3,000 | 3,000 |
Common stock, shares issued | 100 | 100 | 100 |
Common stock, shares outstanding | 100 | 100 | 100 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net revenues | $330,433 | $327,744 | $615,366 | $604,349 | $1,245,842 | $1,179,736 | $1,130,714 |
Operating expenses (income) | ' | ' | ' | ' | ' | ' | ' |
Direct advertising expenses (exclusive of depreciation and amortization) | 114,277 | 110,723 | 225,785 | 217,242 | 436,844 | 418,538 | 409,052 |
General and administrative expenses (exclusive of depreciation and amortization) | 56,054 | 55,987 | 113,731 | 119,125 | 231,574 | 211,320 | 202,437 |
Corporate expenses (exclusive of depreciation and amortization) | 17,035 | 16,010 | 32,319 | 30,608 | 57,212 | 53,086 | 46,533 |
Depreciation and amortization | 71,049 | 72,408 | 140,575 | 146,309 | 300,579 | 296,083 | 299,639 |
Gain on disposition of assets | -1,020 | -701 | -1,226 | -1,307 | -3,804 | -13,817 | -10,548 |
Total Operating Expense | 257,395 | 254,427 | 511,184 | 511,977 | 1,022,405 | 965,210 | 947,113 |
Operating income | 73,038 | 73,317 | 104,182 | 92,372 | 223,437 | 214,526 | 183,601 |
Other expense (income) | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | 20,847 | ' | 26,023 | ' | 14,345 | 41,632 | 677 |
Other-than-temporary impairment of investment | ' | ' | 4,069 | ' | ' | ' | ' |
Interest income | -43 | -51 | -88 | -79 | -165 | -331 | -569 |
Interest expense | 26,086 | 37,887 | 56,354 | 74,587 | 146,277 | 157,093 | 171,093 |
Non-operating (Income) Expenses | 46,890 | 37,836 | 86,358 | 74,508 | 160,457 | 198,394 | 171,201 |
Income (loss) before income tax expense | 26,148 | 35,481 | 17,824 | 17,864 | 62,980 | 16,132 | 12,400 |
Income tax (benefit)expense | 10,726 | 12,359 | 7,239 | 5,005 | 22,841 | 8,242 | 5,542 |
Net income (loss) | 15,422 | 23,122 | 10,585 | 12,859 | 40,139 | 7,890 | 6,858 |
Preferred stock dividends | 91 | 91 | 182 | 182 | 365 | 365 | 365 |
Net income (loss) applicable to common stock | 15,331 | 23,031 | 10,403 | 12,677 | 39,774 | 7,525 | 6,493 |
Earnings per share | ' | ' | ' | ' | ' | ' | ' |
Basic earnings per share | $0.16 | $0.24 | $0.11 | $0.13 | $0.42 | $0.08 | $0.07 |
Diluted earnings per share | $0.16 | $0.24 | $0.11 | $0.13 | $0.42 | $0.08 | $0.07 |
Cash dividends declared per share common stock | $0.83 | ' | $0.83 | ' | ' | ' | ' |
Weighted average common shares outstanding | 95,174,692 | 94,337,967 | 95,041,097 | 94,157,464 | 94,387,230 | 93,379,246 | 92,851,067 |
Incremental common shares from dilutive stock options | 415,530 | 475,171 | 423,180 | 436,296 | 358,285 | 287,395 | 322,718 |
Weighted average common shares assuming dilution | 95,590,222 | 94,813,138 | 95,464,277 | 94,593,760 | 94,745,515 | 93,666,641 | 93,173,785 |
Statement of Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 15,422 | 23,122 | 10,585 | 12,859 | 40,139 | 7,890 | 6,858 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 669 | -873 | 285 | -1,539 | -2,111 | 652 | -784 |
Comprehensive income (loss) | 16,091 | 22,249 | 10,870 | 11,320 | 38,028 | 8,542 | 6,074 |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Net revenues | 330,433 | 327,744 | 615,366 | 604,349 | 1,245,842 | 1,179,736 | 1,130,714 |
Operating expenses (income) | ' | ' | ' | ' | ' | ' | ' |
Direct advertising expenses (exclusive of depreciation and amortization) | 114,277 | 110,723 | 225,785 | 217,242 | 436,844 | 418,538 | 409,052 |
General and administrative expenses (exclusive of depreciation and amortization) | 56,054 | 55,987 | 113,731 | 119,125 | 231,574 | 211,320 | 202,437 |
Corporate expenses (exclusive of depreciation and amortization) | 16,942 | 15,922 | 32,124 | 30,427 | 56,877 | 52,750 | 46,175 |
Depreciation and amortization | 71,049 | 72,408 | 140,575 | 146,309 | 300,579 | 296,083 | 299,639 |
Gain on disposition of assets | -1,020 | -701 | -1,226 | -1,307 | -3,804 | -13,817 | -10,548 |
Total Operating Expense | 257,302 | 254,339 | 510,989 | 511,796 | 1,022,070 | 964,874 | 946,755 |
Operating income | 73,131 | 73,405 | 104,377 | 92,553 | 223,772 | 214,862 | 183,959 |
Other expense (income) | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | 20,847 | ' | 26,023 | ' | 14,345 | 41,632 | 677 |
Other-than-temporary impairment of investment | ' | ' | 4,069 | ' | ' | ' | ' |
Interest income | -43 | -51 | -88 | -79 | -165 | -331 | -569 |
Interest expense | 26,086 | 37,887 | 56,354 | 74,587 | 146,277 | 157,093 | 171,093 |
Non-operating (Income) Expenses | 46,890 | 37,836 | 86,358 | 74,508 | 160,457 | 198,394 | 171,201 |
Income (loss) before income tax expense | 26,241 | 35,569 | 18,019 | 18,045 | 63,315 | 16,468 | 12,758 |
Income tax (benefit)expense | 10,761 | 12,391 | 7,317 | 5,079 | 22,977 | 8,353 | 5,838 |
Net income (loss) | 15,480 | 23,178 | 10,702 | 12,966 | 40,338 | 8,115 | 6,920 |
Statement of Comprehensive Income (Loss) | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 15,480 | 23,178 | 10,702 | 12,966 | 40,338 | 8,115 | 6,920 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 669 | -873 | 285 | -1,539 | -2,111 | 652 | -784 |
Comprehensive income (loss) | $16,149 | $22,305 | $10,987 | $11,427 | $38,227 | $8,767 | $6,136 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | LAMAR MEDIA CORP [Member] | Series AA Preferred Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] | Accumulated Comprehensive Income [Member] | Accumulated Comprehensive Income [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] |
In Thousands | Series AA Preferred Stock [Member] | Preferred Class A [Member] | Common Class A [Member] | Common Class B [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | |||||||
Beginning Balance at Dec. 31, 2010 | $808,938 | $758,904 | ' | ' | ' | $94 | $15 | ($885,037) | $2,389,125 | $2,562,765 | $6,110 | $6,110 | ($701,369) | ($1,809,971) |
Non-cash compensation | 11,650 | ' | ' | ' | ' | ' | ' | ' | 11,650 | ' | ' | ' | ' | ' |
Contribution from parent | ' | 16,553 | ' | ' | ' | ' | ' | ' | ' | 16,553 | ' | ' | ' | ' |
Exercise of stock options | 1,998 | ' | ' | ' | ' | 1 | ' | ' | 1,997 | ' | ' | ' | ' | ' |
Issuance of shares of common stock through employee purchase plan | 3,459 | ' | ' | ' | ' | ' | ' | ' | 3,459 | ' | ' | ' | ' | ' |
Tax shortfall related to options exercised | -552 | ' | ' | ' | ' | ' | ' | ' | -552 | ' | ' | ' | ' | ' |
Purchase of treasury stock | -3,481 | ' | ' | ' | ' | ' | ' | -3,481 | ' | ' | ' | ' | ' | ' |
Foreign currency translation | -784 | -784 | ' | ' | ' | ' | ' | ' | ' | ' | -784 | -784 | ' | ' |
Net income (loss) | 6,858 | 6,920 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,858 | 6,920 |
Dividends | -365 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -365 | ' |
Dividend to parent | ' | -3,481 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,481 |
Ending Balance at Dec. 31, 2011 | 827,721 | 778,112 | ' | ' | ' | 95 | 15 | -888,518 | 2,405,679 | 2,579,318 | 5,326 | 5,326 | -694,876 | -1,806,532 |
Net income (loss) | ' | -25,127 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Mar. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance at Dec. 31, 2011 | 827,721 | 778,112 | ' | ' | ' | 95 | 15 | -888,518 | 2,405,679 | 2,579,318 | 5,326 | 5,326 | -694,876 | -1,806,532 |
Non-cash compensation | 14,466 | ' | ' | ' | ' | ' | ' | ' | 14,466 | ' | ' | ' | ' | ' |
Contribution from parent | ' | 26,839 | ' | ' | ' | ' | ' | ' | ' | 26,839 | ' | ' | ' | ' |
Exercise of stock options | 10,356 | ' | ' | ' | ' | 1 | ' | ' | 10,355 | ' | ' | ' | ' | ' |
Issuance of shares of common stock through employee purchase plan | 3,499 | ' | ' | ' | ' | ' | ' | ' | 3,499 | ' | ' | ' | ' | ' |
Tax shortfall related to options exercised | -1,481 | ' | ' | ' | ' | ' | ' | ' | -1,481 | ' | ' | ' | ' | ' |
Purchase of treasury stock | -1,113 | ' | ' | ' | ' | ' | ' | -1,113 | ' | ' | ' | ' | ' | ' |
Foreign currency translation | 652 | 652 | ' | ' | ' | ' | ' | ' | ' | ' | 652 | 652 | ' | ' |
Net income (loss) | 7,890 | 8,115 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,890 | 8,115 |
Dividends | -365 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -365 | ' |
Dividend to parent | ' | -1,113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,113 |
Ending Balance at Dec. 31, 2012 | 861,625 | 812,605 | ' | ' | ' | 96 | 15 | -889,631 | 2,432,518 | 2,606,157 | 5,978 | 5,978 | -687,351 | -1,799,530 |
Beginning Balance at Sep. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | 7,986 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2012 | ' | 812,605 | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | -10,212 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Mar. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance at Dec. 31, 2012 | 861,625 | 812,605 | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 12,859 | 12,966 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | -182 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance at Dec. 31, 2012 | 861,625 | 812,605 | ' | ' | ' | 96 | 15 | -889,631 | 2,432,518 | 2,606,157 | 5,978 | 5,978 | -687,351 | -1,799,530 |
Non-cash compensation | 18,179 | ' | ' | ' | ' | ' | ' | ' | 18,179 | ' | ' | ' | ' | ' |
Contribution from parent | ' | 37,858 | ' | ' | ' | ' | ' | ' | ' | 37,858 | ' | ' | ' | ' |
Exercise of stock options | 16,993 | ' | ' | ' | ' | 1 | ' | ' | 16,992 | ' | ' | ' | ' | ' |
Issuance of shares of common stock through employee purchase plan | 3,900 | ' | ' | ' | ' | ' | ' | ' | 3,900 | ' | ' | ' | ' | ' |
Tax shortfall related to options exercised | -1,214 | ' | ' | ' | ' | ' | ' | ' | -1,214 | ' | ' | ' | ' | ' |
Purchase of treasury stock | -4,200 | ' | ' | ' | ' | ' | ' | -4,200 | ' | ' | ' | ' | ' | ' |
Foreign currency translation | -2,111 | -2,111 | ' | ' | ' | ' | ' | ' | ' | ' | -2,111 | -2,111 | ' | ' |
Net income (loss) | 40,139 | 40,338 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,139 | 40,338 |
Dividends | -365 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -365 | ' |
Dividend to parent | ' | -4,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,200 |
Ending Balance at Dec. 31, 2013 | 932,946 | 884,490 | ' | ' | ' | 97 | 15 | -893,831 | 2,470,375 | 2,644,015 | 3,867 | 3,867 | -647,577 | -1,763,392 |
Beginning Balance at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ' | 10,228 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2013 | 932,946 | 884,490 | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 10,585 | 10,702 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | -182 | ' | -182 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Jun. 30, 2014 | 885,655 | 837,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning Balance at Mar. 31, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | 15,422 | 15,480 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends | -91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Jun. 30, 2014 | $885,655 | $837,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Exercise of stock options (in shares) | 682,263 | 586,563 | 113,359 |
Purchase of treasury stock (in shares) | 97,430 | 36,553 | 83,802 |
Preferred stock dividend | $63.80 | $63.80 | $63.80 |
Treasury Stock [Member] | ' | ' | ' |
Purchase of treasury stock (in shares) | 97,430 | 36,553 | 83,802 |
Additional Paid-in Capital [Member] | ' | ' | ' |
Exercise of stock options (in shares) | 682,263 | 586,563 | 113,359 |
Accumulated Deficit [Member] | ' | ' | ' |
Preferred stock dividend | $63.80 | $63.80 | $63.80 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 6 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | $10,585 | $12,859 | $40,139 | $7,890 | $6,858 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' | ' | ' |
Depreciation and amortization | 140,575 | 146,309 | 300,579 | 296,083 | 299,639 |
Non-cash equity based compensation | 10,513 | 17,195 | 24,936 | 14,466 | 11,650 |
Amortization included in interest expense | 2,451 | 7,092 | 14,667 | 17,741 | 18,517 |
Gain on disposition of assets and investments | -1,226 | -1,307 | -3,804 | -13,817 | -10,548 |
Other-than-temporary impairment of investment | 4,069 | ' | ' | ' | ' |
Loss on extinguishment of debt | 26,023 | ' | 14,345 | 41,632 | 677 |
Deferred tax (benefit) expense | -2,215 | 3,620 | 18,749 | 6,316 | 2,621 |
Provision for doubtful accounts | 2,750 | 3,101 | 6,034 | 5,484 | 7,591 |
(Increase) decrease in | ' | ' | ' | ' | ' |
Receivables | -25,420 | -18,979 | -6,663 | -13,783 | -14,622 |
Prepaid expenses | -20,941 | -19,948 | 788 | 1,903 | 1,201 |
Other assets | -5,378 | -4,062 | -4,970 | -2,876 | -1,863 |
Increase (decrease) in: | ' | ' | ' | ' | ' |
Trade accounts payable | 2,846 | 2,570 | -89 | -127 | -489 |
Accrued expenses | 2,321 | -2,811 | -6,371 | 2,259 | -630 |
Other liabilities | 26,479 | 6,315 | -3,635 | 12,738 | -1,781 |
Cash flows provided by operating activities | 173,432 | 151,954 | 394,705 | 375,909 | 318,821 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Acquisitions | -9,195 | -32,827 | -92,248 | -206,068 | -23,497 |
Capital expenditures | -54,255 | -52,721 | -105,650 | -105,570 | -107,070 |
(Increase) decrease in notes receivable | ' | ' | -840 | 122 | 166 |
Proceeds from disposition of assets and investments | 1,664 | 3,278 | 6,869 | 8,117 | 13,146 |
Payment received on notes receivable | 4,477 | 18 | ' | ' | ' |
Net cash used in investing activities | -57,309 | -82,252 | -191,869 | -303,399 | -117,255 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Debt issuance costs | -17,081 | -82 | -89 | -22,500 | ' |
Cash used for purchase of treasury stock | -2,987 | -4,200 | -4,200 | -1,113 | -3,481 |
Net proceeds from issuance of common stock | 11,911 | 11,947 | 20,893 | 13,855 | 5,457 |
Principal payments on long term debt | -3,797 | -16,294 | ' | ' | ' |
Payment on revolving credit facility | -220,000 | ' | -34,000 | -15,000 | ' |
Proceeds received from revolving credit facility | 155,000 | ' | 184,000 | 15,000 | ' |
Net proceeds from note offering | 510,000 | ' | ' | 1,035,000 | ' |
Payments under credit agreement | ' | ' | -33,051 | -311,275 | -213,866 |
Net payment on senior subordinated notes | -415,752 | ' | -360,383 | -861,019 | -47,187 |
Net proceeds from senior credit facility | 300,000 | ' | ' | 100,000 | ' |
Payment on senior credit facility | -352,106 | ' | ' | ' | ' |
Distributions | -734 | ' | ' | ' | ' |
Dividends | -79,195 | -182 | -365 | -365 | -365 |
Net cash (used in) provided by financing activities | -114,741 | -8,811 | -227,195 | -47,417 | -259,442 |
Effect of exchange rate changes in cash and cash equivalents | -177 | -922 | -1,340 | 315 | -300 |
Net (decrease) increase in cash and cash equivalents | 1,205 | 59,969 | -25,699 | 25,408 | -58,176 |
Cash and cash equivalents at beginning of period | 33,212 | 58,911 | 58,911 | 33,503 | 91,679 |
Cash and cash equivalents at end of period | 34,417 | 118,880 | 33,212 | 58,911 | 33,503 |
Supplemental disclosures of cash flow information: | ' | ' | ' | ' | ' |
Cash paid for interest | 47,570 | 67,527 | 140,048 | 143,589 | 153,800 |
Cash paid for foreign, state and federal income taxes | 9,295 | 1,491 | 4,096 | 2,392 | 2,651 |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' |
Cash flows from operating activities: | ' | ' | ' | ' | ' |
Net income (loss) | 10,702 | 12,966 | 40,338 | 8,115 | 6,920 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' | ' | ' |
Depreciation and amortization | 140,575 | 146,309 | 300,579 | 296,083 | 299,639 |
Non-cash equity based compensation | 10,513 | 17,195 | 24,936 | 14,466 | 11,650 |
Amortization included in interest expense | 2,451 | 7,092 | 14,667 | 17,741 | 18,517 |
Gain on disposition of assets and investments | -1,226 | -1,307 | -3,804 | -13,817 | -10,548 |
Other-than-temporary impairment of investment | 4,069 | ' | ' | ' | ' |
Loss on extinguishment of debt | 26,023 | ' | 14,345 | 41,632 | 677 |
Deferred tax (benefit) expense | -2,137 | 3,694 | 18,885 | 6,426 | 2,916 |
Provision for doubtful accounts | 2,750 | 3,101 | 6,034 | 5,484 | 7,591 |
(Increase) decrease in | ' | ' | ' | ' | ' |
Receivables | -25,420 | -18,979 | -6,663 | -13,233 | -14,622 |
Prepaid expenses | -20,941 | -19,948 | 788 | 1,903 | 1,201 |
Other assets | -5,378 | -4,062 | -4,970 | -2,876 | -1,863 |
Increase (decrease) in: | ' | ' | ' | ' | ' |
Trade accounts payable | 2,846 | 2,570 | -89 | -127 | -489 |
Accrued expenses | 2,321 | -2,811 | -6,371 | 2,259 | -630 |
Other liabilities | 13,993 | -7,201 | -21,300 | 5,301 | -10,611 |
Cash flows provided by operating activities | 161,141 | 138,619 | 377,375 | 369,357 | 310,348 |
Cash flows from investing activities: | ' | ' | ' | ' | ' |
Acquisitions | -9,195 | -32,827 | -92,248 | -206,068 | -23,497 |
Capital expenditures | -54,255 | -52,721 | -105,650 | -105,570 | -107,070 |
(Increase) decrease in notes receivable | ' | ' | -840 | 122 | 166 |
Proceeds from disposition of assets and investments | 1,664 | 3,278 | 6,869 | 8,117 | 13,146 |
Payment received on notes receivable | 4,477 | 18 | ' | ' | ' |
Net cash used in investing activities | -57,309 | -82,252 | -191,869 | -303,399 | -117,255 |
Cash flows from financing activities: | ' | ' | ' | ' | ' |
Debt issuance costs | -17,081 | -82 | -89 | -22,500 | ' |
Principal payments on long term debt | -3,797 | -16,294 | ' | ' | ' |
Payment on revolving credit facility | -220,000 | ' | -34,000 | -15,000 | ' |
Proceeds received from revolving credit facility | 155,000 | ' | 184,000 | 15,000 | ' |
Net proceeds from note offering | 510,000 | ' | ' | 1,035,000 | ' |
Payments under credit agreement | ' | ' | -33,051 | -311,275 | -213,866 |
Net payment on senior subordinated notes | -415,752 | ' | -360,383 | -861,019 | -47,187 |
Net proceeds from senior credit facility | 300,000 | ' | ' | 100,000 | ' |
Payment on senior credit facility | -352,106 | ' | ' | ' | ' |
Distributions | -734 | ' | ' | ' | ' |
Contributions from parent | 24,020 | 25,100 | 37,858 | 19,668 | 16,553 |
Dividend to parent | -82,000 | -4,200 | -4,200 | -1,113 | -3,481 |
Net cash (used in) provided by financing activities | -102,450 | 4,524 | -209,865 | -41,239 | -247,981 |
Effect of exchange rate changes in cash and cash equivalents | -177 | -922 | -1,340 | 315 | -300 |
Net (decrease) increase in cash and cash equivalents | 1,205 | 59,969 | -25,699 | 25,034 | -55,188 |
Cash and cash equivalents at beginning of period | 32,712 | 58,411 | 58,411 | 33,377 | 88,565 |
Cash and cash equivalents at end of period | 33,917 | 118,380 | 32,712 | 58,411 | 33,377 |
Supplemental disclosures of cash flow information: | ' | ' | ' | ' | ' |
Cash paid for interest | 47,570 | 67,527 | 140,048 | 143,589 | 153,800 |
Cash paid for foreign, state and federal income taxes | $9,295 | $1,491 | $4,096 | $2,392 | $2,651 |
Significant_Accounting_Policie
Significant Accounting Policies | 6 Months Ended | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||
Significant Accounting Policies | ' | ' | ||||||||||||
1. Significant Accounting Policies and Description of Business | ||||||||||||||
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 2013 Combined Form 10-K. Subsequent events, if any, are evaluated through the date on which the financial statements are issued. | (1) Significant Accounting Policies | |||||||||||||
In April 2014, the Company received a favorable private letter ruling from the U.S. Internal Revenue Service (the “IRS”) regarding its plan to be taxed as REIT. The Company’s conversion to a REIT is expected to be effective as of January 1, 2014, subject to final approval by the Company’s Board of Directors. | ||||||||||||||
(a) Nature of Business | ||||||||||||||
Lamar Advertising Company (the Company) is engaged in the outdoor advertising business, operating over 145,000 billboard advertising displays in 44 states, Canada and Puerto Rico. The Company’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. | ||||||||||||||
In addition, the Company operates a logo sign business in 22 states throughout the United States and the province of Ontario, Canada and operates over 38,000 transit advertising displays in 16 states, Canada and Puerto Rico. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising on bus shelters, benches and buses in the markets it serves. | ||||||||||||||
(b) Principles of Consolidation | ||||||||||||||
The accompanying consolidated financial statements include Lamar Advertising Company, its wholly owned subsidiary, Lamar Media Corp. (Lamar Media), and its majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. | ||||||||||||||
An operating segment is a component of an enterprise: | ||||||||||||||
• | that engages in business activities from which it may earn revenues and incur expenses; | |||||||||||||
• | whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and | |||||||||||||
• | for which discrete financial information is available. | |||||||||||||
We define the term ‘chief operating decision maker’ to be our executive management group, which consist of our Chief Executive Officer, President and Chief Financial Officer. Currently, all operations are reviewed on a consolidated basis for budget and business plan performance by our executive management group. Additionally, operational performance at the end of each reporting period is viewed in the aggregate by our management group. Any decisions related to changes in invested capital, personnel, operational improvement or training, or to allocate other company resources are made based on the combined results. | ||||||||||||||
We operate in a single operating and reporting segment, advertising. We sell advertising on billboards, buses, shelters and benches and logo plates. | ||||||||||||||
(c) Adjustment to Previously Reported Amounts | ||||||||||||||
Immaterial Correction of an Error. During the fourth quarter of 2013, the Company revised previously reported amounts due to a change from recognizing revenue on a monthly basis over the term of the advertising contract to recognizing revenue on a daily basis over the term of the advertising contract. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, management evaluated the materiality of the error from qualitative and quantitative perspectives, and concluded the error was immaterial to the current and prior periods. The correction of the immaterial error resulted in an increase to deferred income liability of $21,651 and $18,486 at December 31, 2012 and 2011, respectively, an increase of accumulated deficit of $13,208 and $11,277 and a reduction in net revenue and net income of $3,165 and $2,773 and $1,931 and $1,692, for the years ended December 31, 2012 and 2011, respectively. The correction also resulted in a decrease of $0.02 in earnings per basic and dilutive share for the years ended December 31, 2012 and 2011. | ||||||||||||||
Consequently, the Company revised its historical financial statements for fiscal 2012, fiscal 2011 herein, and will revise the quarters within fiscal 2013, when they are published in future filings. The Company recognized the cumulative effect of the error on periods prior to those that are presented herein by increasing deferred income liability and accumulated deficit by $15,713 and $9,585, respectively, as of December 31, 2010. | ||||||||||||||
(d) Property, Plant and Equipment | ||||||||||||||
Property, plant and equipment are stated at cost. Depreciation is calculated using accelerated and straight-line methods over the estimated useful lives of the assets. | ||||||||||||||
(e) Goodwill and Intangible Assets | ||||||||||||||
Goodwill is subject to an annual impairment test. The Company designated December 31 as the date of its annual goodwill impairment test. Impairment testing involves various estimates and assumptions, which could vary, and an analysis of relevant market data and market capitalization. If industry and economic conditions deteriorate, the Company may be required to assess goodwill impairment before the next annual test, which could result in impairment charges. | ||||||||||||||
The Company is required to identify its reporting units and determine the carrying value of each reporting unit by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units. The Company is required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, the Company would be required to perform the second step of the impairment test, as this is an indication that the reporting unit goodwill may be impaired. The fair value of each reporting unit exceeded its carrying amount at its annual impairment test date on December 31, 2013 and 2012; therefore, the Company was not required to recognize an impairment loss. | ||||||||||||||
Intangible assets, consisting primarily of site locations, customer lists and contracts, and non-competition agreements are amortized using the straight-line method over the assets estimated useful lives, generally from 3 to 15 years. | ||||||||||||||
(f) Impairment of Long-Lived Assets | ||||||||||||||
Long-lived assets, such as property, plant and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset or asset group before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet. | ||||||||||||||
(g) Deferred Income | ||||||||||||||
Deferred income consists principally of advertising revenue invoiced in advance and gains resulting from the sale of certain assets to related parties. Deferred advertising revenue is recognized in income as services are provided over the term of the contract. | ||||||||||||||
(h) Revenue Recognition | ||||||||||||||
The Company recognizes outdoor advertising revenue on an accrual basis ratably over the term of the contracts, as services are provided. Production revenue and the related expense for the advertising copy are recognized upon completion of the sale. | ||||||||||||||
The Company engages in barter transactions where the Company trades advertising space for goods and services. The Company recognizes revenues and expenses from barter transactions at fair value, which is determined based on the Company’s own historical practice of receiving cash for similar advertising space from buyers unrelated to the party in the barter transaction. The amount of revenue and expense recognized for advertising barter transactions is as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Net revenues | $ | 7,862 | $ | 6,798 | $ | 7,153 | ||||||||
Direct advertising expenses | $ | 3,005 | $ | 2,900 | $ | 2,766 | ||||||||
General and administrative expenses | $ | 4,417 | $ | 3,699 | $ | 3,524 | ||||||||
(i) Income Taxes | ||||||||||||||
The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||||||
(j) Earnings Per Share | ||||||||||||||
The calculation of basic earnings per share excludes any dilutive effect of stock options and convertible debt, while diluted earnings per share includes the dilutive effect of stock options and convertible debt. For the years ended December 31, 2013, December 31, 2012 and December 31, 2011, there were no dilutive shares excluded from the calculation. | ||||||||||||||
(k) Stock Based Compensation | ||||||||||||||
Compensation expense for share-based awards is recognized based on the grant date fair value of those awards. Stock-based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis, which is generally commensurate with the vesting term. Stock-based compensation expense recognized during the years ended December 31, 2013, 2012, and 2011 were $24,936, $14,466 and $11,650. The $24,936 expensed during the year ended December 31, 2013 consists of (i) $17,340 related to stock options, (ii) $7,231 related to stock grants, made under the Company’s performance-based stock incentive program in 2013 (iii) $365 related to stock awards to directors. See Note 14 for information on the assumptions we used to calculate the fair value of stock-based compensation. | ||||||||||||||
(l) Cash and Cash Equivalents | ||||||||||||||
The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. | ||||||||||||||
(m) Foreign Currency Translation | ||||||||||||||
Local currencies generally are considered the functional currencies outside the United States. Assets and liabilities for operations in local-currency environments are translated at year-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are recorded as a component of other comprehensive income in the Consolidated Statement of Operations and Comprehensive Income and as a component of accumulated other comprehensive income in Consolidated Statement of Stockholders’ Equity. | ||||||||||||||
(n) Asset Retirement Obligations | ||||||||||||||
The Company is required to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset’s carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company’s asset retirement obligations relate primarily to the dismantlement, removal, site reclamation and similar activities of its properties. | ||||||||||||||
(o) Use of Estimates | ||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||
(p) Comprehensive Income | ||||||||||||||
Total comprehensive income is presented in the Consolidated Statements of Operations and Comprehensive Income and the components of accumulated other comprehensive income are presented in the Consolidated Statements of Stockholders’ Equity. Comprehensive Income is composed of foreign currency translation effects. | ||||||||||||||
(q) Subsequent Events | ||||||||||||||
The Company has performed an evaluation of subsequent events through the date on which the financial statements are issued. | ||||||||||||||
LAMAR MEDIA CORP [Member] | ' | ' | ||||||||||||
Significant Accounting Policies | ' | ' | ||||||||||||
1. 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 2013 Combined Form 10-K. | (a) Nature of Business | |||||||||||||
Certain notes are not provided for the accompanying condensed consolidated financial statements as the information in notes 1, 2, 3, 4, 5, 6, 8, 9, 10, 11 and 13 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. | Lamar Media Corp. is a wholly owned subsidiary of Lamar Advertising Company. Lamar Media Corp. is engaged in the outdoor advertising business operating approximately 145,000 outdoor advertising displays in 44 states. Lamar Media’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. | |||||||||||||
In addition, Lamar Media operates a logo sign business in 22 states throughout the United States as well as the province of Ontario, Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising on bus shelters, benches and buses in the markets it serves. | ||||||||||||||
Certain footnotes are not provided for the accompanying financial statements as the information in notes 2, 4, 6, 9, 10, 13, 14, 15, 16, 17 and 18 and portions of notes 1 and 12 to the consolidated financial statements of Lamar Advertising Company included elsewhere in this filing are substantially equivalent to that required for the consolidated financial statements of Lamar Media Corp. Earnings per share data is not provided for the operating results of Lamar Media Corp. as it is a wholly owned subsidiary of Lamar Advertising Company. | ||||||||||||||
(b) Principles of Consolidation | ||||||||||||||
The accompanying consolidated financial statements include Lamar Media Corp., its wholly owned subsidiaries, The Lamar Company, LLC, Lamar Central Outdoor, Inc., Lamar Oklahoma Holding Co., Inc., Lamar Advertising Southwest, Inc., Lamar DOA Tennessee Holdings, Inc., and Interstate Logos, LLC. and their majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Acquisitions | ' | ||||||||
(2) Acquisitions | |||||||||
Year Ended December 31, 2013 | |||||||||
During the twelve months ended December 31, 2013, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of $97,230, of which $92,248 was in cash and $4,982 in non-cash consideration consisting principally of exchanges of outdoor advertising assets. As a result of the acquisitions, a gain of $67 was recorded for transactions which involved the exchange of outdoor advertising assets during the year ended December 31, 2013. | |||||||||
Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition costs have been allocated to assets acquired and liabilities assumed based on preliminary fair market value estimates at the dates of acquisition. The allocations are pending final determination of the fair value of certain assets and liabilities. The following is a summary of the allocation of the acquisition costs in the above transactions. | |||||||||
Total | |||||||||
Property, plant and equipment | $ | 18,196 | |||||||
Goodwill | 18,631 | ||||||||
Site locations | 50,333 | ||||||||
Non-competition agreements | 430 | ||||||||
Customer lists and contracts | 10,390 | ||||||||
Other assets | 1,408 | ||||||||
Current liabilities | (2,158 | ) | |||||||
$ | 97,230 | ||||||||
Total acquired intangible assets for the year ended December 31, 2013 were $79,784, of which $18,631 was assigned to goodwill. Although goodwill is not amortized for financial statement purposes, $18,582 is expected to be fully deductible for tax purposes. The remaining $61,153 of acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $10,390 (7 year weighted average useful life) and site locations of $50,333 (15 year weighted average useful life). The aggregate amortization expense related to the 2013 acquisitions for the year ended December 31, 2013 was approximately $2,158. | |||||||||
The following unaudited pro forma financial information for the Company gives effect to the 2013 and 2012 acquisitions as if they had occurred on January 1, 2012. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period. | |||||||||
2013 | 2012 | ||||||||
Net revenues | $ | 1,255,376 | $ | 1,225,958 | |||||
Net income applicable to common stock | $ | 40,725 | $ | 12,098 | |||||
Net loss per common share — basic | $ | 0.43 | $ | 0.13 | |||||
Net loss per common share — diluted | $ | 0.43 | $ | 0.13 | |||||
Year Ended December 31, 2012 | |||||||||
During the twelve months ended December 31, 2012, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of approximately $230,009, of which $206,068 was in cash and $23,941 in non-cash consideration consisting principally of exchanges of outdoor advertising assets. As a result of the acquisitions, a gain of $9,805 was recorded for transactions which involved the exchange of outdoor advertising assets during the year ended December 31, 2012. | |||||||||
Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition costs have been allocated to assets acquired and liabilities assumed based on preliminary fair market value estimates at the dates of acquisition. The allocations are pending final determination of the fair value of certain assets and liabilities. The following is a summary of the preliminary allocation of the acquisition costs in the above transactions. | |||||||||
Total | |||||||||
Property, plant and equipment | $ | 74,326 | |||||||
Goodwill | 60,968 | ||||||||
Site locations | 78,288 | ||||||||
Non-competition agreements | 80 | ||||||||
Customer lists and contracts | 18,148 | ||||||||
Other asset | 7,763 | ||||||||
Current liabilities | (3,424 | ) | |||||||
Long-term liabilities | (6,140 | ) | |||||||
$ | 230,009 | ||||||||
Total acquired intangible assets for the year ended December 31, 2012 were $157,484, of which $60,968 was assigned to goodwill. Although goodwill is not amortized for financial statement purposes, $23,937 is expected to be fully deductible for tax purposes. The remaining $96,516 of acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $18,148 (7 year weighted average useful life) and site locations of $78,288 (15 year weighted average useful life). The aggregate amortization expense related to the 2012 acquisitions for the year ended December 31, 2012 was approximately $679. | |||||||||
The following unaudited pro forma financial information for the Company gives effect to the 2012 and 2011 acquisitions as if they had occurred on January 1, 2011. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period. | |||||||||
2012 | 2011 | ||||||||
Net revenues | $ | 1,209,540 | $ | 1,174,520 | |||||
Net income applicable to common stock | $ | 8,161 | $ | 6,626 | |||||
Net loss per common share — basic | $ | 0.09 | $ | 0.07 | |||||
Net loss per common share — diluted | $ | 0.09 | $ | 0.07 |
Noncash_Financing_and_Investin
Non-cash Financing and Investing Activities | 12 Months Ended |
Dec. 31, 2013 | |
Non-cash Financing and Investing Activities | ' |
(3) Non-cash Financing and Investing Activities | |
For the period ended December 31, 2013 and December 31, 2012, the Company had $4,982 and $23,941 non-cash investing activities related to acquisitions of outdoor advertising assets. For the year ended December 31, 2011, the Company had non-cash investing activities of $4,000 and $1,900 related to deposits paid in prior periods for the purchase of an aircraft in January 2011 that had a total purchase price of $11,539 and settlement of a notes receivable by a transfer of land, respectively. | |
LAMAR MEDIA CORP [Member] | ' |
Non-cash Financing and Investing Activities | ' |
(2) Non-cash Financing and Investing Activities | |
For the period ended December 31, 2013 and December 31, 2012, the Company had non-cash investing activities of $4,982 and $23,941 related to acquisitions of outdoor advertising assets. For the year ended December 31, 2011, the Company had non-cash investing activities of $4,000 and $1,900 related to deposits paid in prior periods for the purchase of an aircraft in January 2011 that had a total purchase price of $11,539 and settlement of a notes receivable by a transfer of land, respectively. |
Property_Plant_and_Equipment
Property, Plant and Equipment | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Property, Plant and Equipment | ' | ||||||||||
(4) Property, Plant and Equipment | |||||||||||
Major categories of property, plant and equipment at December 31, 2013 and 2012 are as follows: | |||||||||||
Estimated Life | 2013 | 2012 | |||||||||
(Years) | |||||||||||
Land | — | $ | 312,883 | $ | 317,223 | ||||||
Building and improvements | 10 — 39 | 125,724 | 115,646 | ||||||||
Advertising structures | 5 — 15 | 2,459,313 | 2,378,940 | ||||||||
Automotive and other equipment | 3 — 7 | 138,424 | 128,640 | ||||||||
$ | 3,036,344 | $ | 2,940,449 | ||||||||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||||||||||
4. Goodwill and Other Intangible Assets | (5) Goodwill and Other Intangible Assets | |||||||||||||||||||||||||||||||||||||||||
The following is a summary of intangible assets at June 30, 2014 and December 31, 2013: | The following is a summary of intangible assets at December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Estimated | June 30, 2014 | December 31, 2013 | Estimated | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Life | Gross Carrying | Accumulated | Gross Carrying | Accumulated | Life | |||||||||||||||||||||||||||||||||||||
(Years) | Amount | Amortization | Amount | Amortization | (Years) | Gross Carrying | Accumulated | Gross Carrying | Accumulated | |||||||||||||||||||||||||||||||||
Customer lists and contracts | 7—10 | $ | 494,615 | $ | 466,705 | $ | 492,299 | $ | 463,188 | Amount | Amortization | Amount | Amortization | |||||||||||||||||||||||||||||
Non-competition agreements | 3—15 | 63,943 | 63,061 | 63,933 | 62,914 | Amortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||
Site locations | 15 | 1,499,474 | 1,156,903 | 1,495,635 | 1,106,947 | Customer lists and contracts | 7 — 10 | $ | 492,299 | $ | 463,188 | $ | 482,883 | $ | 455,549 | |||||||||||||||||||||||||||
Other | 5—15 | 14,008 | 13,463 | 14,008 | 13,441 | Non-competition agreements | 3 — 15 | 63,933 | 62,914 | 63,519 | 62,566 | |||||||||||||||||||||||||||||||
Site locations | 15 | 1,495,635 | 1,106,947 | 1,449,181 | 1,009,631 | |||||||||||||||||||||||||||||||||||||
$ | 2,072,040 | $ | 1,700,132 | $ | 2,065,875 | $ | 1,646,490 | Other | 5 — 15 | 14,008 | 13,441 | 13,608 | 13,133 | |||||||||||||||||||||||||||||
Unamortizable intangible assets: | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $ | 1,757,200 | $ | 253,536 | $ | 1,757,089 | $ | 253,536 | $ | 2,065,875 | $ | 1,646,490 | $ | 2,009,191 | $ | 1,540,879 | ||||||||||||||||||||||||||
Unamortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $ | 1,757,089 | $ | 253,536 | $ | 1,738,686 | $ | 253,536 | ||||||||||||||||||||||||||||||||||
The changes in the gross carrying amount of goodwill for the year ended December 31, 2013 are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 1,738,686 | ||||||||||||||||||||||||||||||||||||||||
Goodwill acquired during the year | 18,631 | |||||||||||||||||||||||||||||||||||||||||
Purchase price adjustments and other | (228 | ) | ||||||||||||||||||||||||||||||||||||||||
Impairment losses | — | |||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 1,757,089 | ||||||||||||||||||||||||||||||||||||||||
Amortization expense for the years ended December 31, 2013, 2012 and 2011 was $106,533, $102,941 and $102,918, respectively. The following is a summary of the estimated amortization expense for future years: | ||||||||||||||||||||||||||||||||||||||||||
2014 | $ | 94,763 | ||||||||||||||||||||||||||||||||||||||||
2015 | 58,713 | |||||||||||||||||||||||||||||||||||||||||
2016 | 48,503 | |||||||||||||||||||||||||||||||||||||||||
2017 | 43,255 | |||||||||||||||||||||||||||||||||||||||||
2018 | 38,542 | |||||||||||||||||||||||||||||||||||||||||
Thereafter | 135,609 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 419,385 | ||||||||||||||||||||||||||||||||||||||||
LAMAR MEDIA CORP [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||||||||||
(3) Goodwill and Other Intangible Assets | ||||||||||||||||||||||||||||||||||||||||||
The following is a summary of intangible assets at December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||||
Estimated | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Life | ||||||||||||||||||||||||||||||||||||||||||
(Years) | Gross Carrying | Accumulated | Gross Carrying | Accumulated | ||||||||||||||||||||||||||||||||||||||
Amount | Amortization | Amount | Amortization | |||||||||||||||||||||||||||||||||||||||
Amortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||||||||
Customer lists and contracts | 7—10 | $ | 492,299 | $ | 463,188 | $ | 482,883 | $ | 455,549 | |||||||||||||||||||||||||||||||||
Non-competition agreement | 3—15 | 63,933 | 62,914 | 63,519 | 62,566 | |||||||||||||||||||||||||||||||||||||
Site locations | 15 | 1,495,635 | 1,106,945 | 1,449,181 | 1,009,631 | |||||||||||||||||||||||||||||||||||||
Other | 5—15 | 13,463 | 13,364 | 13,063 | 13,063 | |||||||||||||||||||||||||||||||||||||
$ | 2,065,330 | $ | 1,646,411 | $ | 2,008,646 | $ | 1,540,809 | |||||||||||||||||||||||||||||||||||
Unamortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $ | 1,746,068 | $ | 252,667 | $ | 1,727,665 | $ | 252,667 | ||||||||||||||||||||||||||||||||||
The changes in the gross carrying amount of goodwill for the year ended December 31, 2013 are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 1,727,665 | ||||||||||||||||||||||||||||||||||||||||
Goodwill acquired during the year | 18,631 | |||||||||||||||||||||||||||||||||||||||||
Purchase price adjustments and other | (228 | ) | ||||||||||||||||||||||||||||||||||||||||
Impairment losses | — | |||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 1,746,068 | ||||||||||||||||||||||||||||||||||||||||
Leases
Leases | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Leases | ' | ||||
(6) Leases | |||||
The Company is party to various operating leases for production facilities, vehicles and sites upon which advertising structures are built. The leases expire at various dates, and have varying options to renew and to cancel and may contain escalation provisions. The following is a summary of minimum annual rental payments required under those operating leases that have original or remaining lease terms in excess of one year as of December 31, 2013: | |||||
2014 | $ | 155,374 | |||
2015 | $ | 125,503 | |||
2016 | $ | 109,737 | |||
2017 | $ | 94,932 | |||
2018 | $ | 80,956 | |||
Thereafter | $ | 595,410 | |||
Rental expense related to the Company’s operating leases was $222,638, $209,110, and $205,378 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Accrued Expenses | ' | ||||||||
(7) Accrued Expenses | |||||||||
The following is a summary of accrued expenses at December 31, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Payroll | $ | 11,311 | $ | 12,854 | |||||
Interest | 23,451 | 31,888 | |||||||
Insurance benefits | 13,090 | 12,537 | |||||||
Accrued lease expense | 37,346 | 32,100 | |||||||
Other | 13,726 | 10,082 | |||||||
$ | 98,924 | $ | 99,461 | ||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||
Accrued Expenses | ' | ||||||||
(4) Accrued Expenses | |||||||||
The following is a summary of accrued expenses at December 31, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Payroll | $ | 11,311 | $ | 12,854 | |||||
Interest | 23,451 | 31,888 | |||||||
Other | 60,870 | 52,118 | |||||||
$ | 95,632 | $ | 96,860 | ||||||
Longterm_Debt
Long-term Debt | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||
Long-term Debt | ' | ' | ||||||||||||||||||||||||
8. Long-term Debt | (8) Long-term Debt | |||||||||||||||||||||||||
Long-term debt consists of the following at June 30, 2014 and December 31, 2013: | Long-term debt consists of the following at December 31, 2013 and 2012: | |||||||||||||||||||||||||
June 30, | December 31, | 2013 | 2012 | |||||||||||||||||||||||
2014 | 2013 | Senior Credit Agreement | $ | 502,106 | $ | 384,664 | ||||||||||||||||||||
Senior Credit Facility | $ | 381,250 | $ | 502,106 | 7 7/8% Senior Subordinated Notes | 400,000 | 400,000 | |||||||||||||||||||
7 7/8% Senior Subordinated Notes | — | 400,000 | 5 7/8% Senior Subordinated Notes | 500,000 | 500,000 | |||||||||||||||||||||
5 7/8% Senior Subordinated Notes | 500,000 | 500,000 | 5% Senior Subordinated Notes | 535,000 | 535,000 | |||||||||||||||||||||
5% Senior Subordinated Notes | 535,000 | 535,000 | 9 3/4% Senior Notes | — | 339,121 | |||||||||||||||||||||
5 3/8% Senior Notes | 510,000 | — | Other notes with various rates and terms | 1,696 | 2,069 | |||||||||||||||||||||
Other notes with various rates and terms | 1,617 | 1,696 | ||||||||||||||||||||||||
1,938,802 | 2,160,854 | |||||||||||||||||||||||||
1,927,867 | 1,938,802 | Less current maturities | (55,935 | ) | (33,134 | ) | ||||||||||||||||||||
Less current maturities | (15,636 | ) | (55,935 | ) | ||||||||||||||||||||||
Long-term debt excluding current maturities | $ | 1,882,867 | $ | 2,127,720 | ||||||||||||||||||||||
Long-term debt, excluding current maturities | $ | 1,912,231 | $ | 1,882,867 | ||||||||||||||||||||||
Long-term debt matures as follows: | ||||||||||||||||||||||||||
7 7/8% Senior Subordinated Notes | ||||||||||||||||||||||||||
On April 22, 2010, Lamar Media issued $400,000 in aggregate principal amount of 7 7/8% Senior Subordinated Notes due 2018 (the “7 7/8% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $392,000. | ||||||||||||||||||||||||||
On or after April 15, 2014, Lamar Media may redeem the 7 7/8% Notes, in whole or part, in cash at redemption prices specified in the 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 notes at a price equal to 101% of the principal amount of the notes plus accrued and unpaid interest, up to but not including the repurchase date. | 2014 | $ | 55,935 | |||||||||||||||||||||||
On April 21, 2014, Lamar Media redeemed in full all $400,000 in aggregate principal amount of the 7 7/8% Notes. A loss of $20,847 was recorded as a result of this transaction, of which $5,095 was non-cash. No 7 7/8% Notes remained outstanding as of June 30, 2014. | 2015 | $ | 335,698 | |||||||||||||||||||||||
5 7/8% Senior Subordinated Notes | 2016 | $ | 27,142 | |||||||||||||||||||||||
On February 9, 2012, Lamar Media completed an institutional private placement of $500,000 aggregate principal amount of 5 7/8% Senior Subordinated Notes, due 2022 (the “5 7/8% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $489,000. | 2017 | $ | 85,000 | |||||||||||||||||||||||
Lamar Media may redeem up to 35% of the aggregate principal amount of the 5 7/8% Notes, at any time and from time to time, at a price equal to 105.875% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before February 1, 2015, provided that following the redemption, at least 65% of the 5 7/8% Notes that were originally issued remain outstanding. At any time prior to February 1, 2017, Lamar Media may redeem some or all of the 5 7/8% Notes at a price equal to 100% of the aggregate principal amount plus a make-whole premium. | 2018 | $ | 400,000 | |||||||||||||||||||||||
On or after February 1, 2017, Lamar Media may redeem the 5 7/8% Notes, in whole or in part, in cash at redemption prices specified in the 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 notes at a price equal to 101% of the principal amount of the 5 7/8% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. | Later years | $ | 1,035,027 | |||||||||||||||||||||||
9 3/4% Senior Notes | ||||||||||||||||||||||||||
5% Senior Subordinated Notes | On March 27, 2009, Lamar Media completed an institutional private placement of $350,000 in aggregate principal amount ($314,927 gross proceeds) of 9 3/4% Senior Notes due 2014. The institutional private placement resulted in net proceeds to Lamar Media of approximately $307,489. The senior notes mature on April 1, 2014 and bear interest at a rate of 9 3/4% per annum, which is payable semi-annually on April 1 and October 1 of each year, beginning October 1, 2009. Interest will be computed on the basis of a 360-day year comprised of twelve 30-day months. The terms of the senior notes will, among other things, limit Lamar Media’s and its restricted subsidiaries’ ability to (i) incur additional debt and issue preferred stock; (ii) make certain distributions, investments and other restricted payments; (iii) create certain liens; (iv) enter into transactions with affiliates; (v) have the restricted subsidiaries make payments to Lamar Media; (vi) merge, consolidate or sell substantially all of Lamar Media’s or the restricted subsidiaries’ assets; and (vii) sell assets. These covenants are subject to a number of exceptions and qualifications. | |||||||||||||||||||||||||
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 up to 35% of the aggregate principal amount of the senior notes, at any time and from time to time, at a price equal to 109.75% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon (including additional interest, if any), with the net cash proceeds of certain public equity offerings completed before April 1, 2012. At any time prior to April 1, 2014, Lamar Media may redeem some or all of the senior notes at a price equal to 100% of the principal amount plus a make-whole premium. In addition, if the Company or Lamar Media undergoes a change of control, Lamar Media may be required to make an offer to purchase each holder’s senior notes at a price equal to 101% of the principal amount of the senior notes, plus accrued and unpaid interest (including additional interest, if any), up to but not including the repurchase date. | |||||||||||||||||||||||||
Lamar Media may redeem up to 35% of the aggregate principal amount of the 5% Notes, at any time and from time to time, at a price equal to 105% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before November 1, 2015, provided that following the redemption, at least 65% of the 5% Notes that were originally issued remain outstanding. At any time prior to May 1, 2018, Lamar Media may redeem some or all of the 5% Notes at a price equal to 100% of the aggregate principal amount plus a make-whole premium. On or after May 1, 2018, 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 Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, up to but not including the repurchase date. | ||||||||||||||||||||||||||
5 3/8% Senior Notes | On December 4, 2013, Lamar Media redeemed in full all $350,000 in aggregate principal amount of its 9 3/4% Senior Notes. A loss of $14,345 was recorded as a result of this transaction, of which $3,962 was non-cash. No 9 3/4% Senior Notes remained outstanding at December 31, 2013. | |||||||||||||||||||||||||
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% Senior Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $502,300. | 7 7/8% Senior Subordinated Notes | |||||||||||||||||||||||||
Lamar Media may redeem up to 35% of the aggregate principal amount of the 5 3/8% Senior Notes, at any time and from time to time, at a price equal to 105 3/8% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before January 15, 2017, provided that following the redemption, at least 65% of the 5 3/8% Senior 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, 2019, Lamar Media may redeem some or all of the 5 3/8% Senior 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, 2019, Lamar Media may redeem the 5 3/8% Senior Notes, in whole or in part, in cash at redemption prices specified in the 5 3/8% Senior 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 3/8% Senior Notes at a price equal to 101% of the principal amount of the 5 3/8% Senior Notes, plus accrued and unpaid interest, up to but not including the repurchase date. | On April 22, 2010, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 7 7/8% Senior Subordinated Notes due 2018. The institutional private placement resulted in net proceeds to Lamar Media of approximately $392,000. | |||||||||||||||||||||||||
Senior Credit Facility | Lamar Media may redeem up to 35% of the aggregate principal amount of the Notes, at any time and from time to time, at a price equal to 107.875% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon (including additional interest, if any), with the net cash proceeds of certain public equity offerings completed before April 15, 2013, provided that following the redemption at least 65% of the 7 7/8% Senior Subordinated Notes that were originally issued remain outstanding. At any time prior to April 15, 2014, Lamar Media may redeem some or all of the 7 7/8% Senior Subordinated Notes at a price equal to 100% of the principal amount plus a make-whole premium. On or after April 15, 2014, Lamar Media may redeem the 7 7/8% Senior Subordinated Notes, in whole or part, in cash at redemption prices specified in the Indenture. | |||||||||||||||||||||||||
On January 10, 2014, Lamar Media paid in full the outstanding balance of the term loans then outstanding under its senior credit facility. The Company incurred a non-cash loss of $5,176 related to this transaction. | 5 7/8% Senior Subordinated Notes | |||||||||||||||||||||||||
On February 3, 2014, Lamar Media entered into a Second Restatement Agreement (the “Second Restatement Agreement”) with the Company, certain of Lamar Media’s subsidiaries as Guarantors, JPMorgan Chase Bank, N.A., as Administrative Agent and the Lenders named therein, under which the parties agreed to amend and restate Lamar Media’s existing senior credit facility on the terms set forth in the Second Amended and Restated Credit Agreement attached as Exhibit A to the Second Restatement Agreement (such Second and Amended and Restated Credit Agreement together with the Second Restatement Agreement being herein referred to as the “senior credit facility”). The senior credit facility consists of a $400,000 revolving credit facility and a $500,000 incremental facility. Lamar Media is the borrower under the senior credit facility. We may also from time to time designate wholly-owned subsidiaries as subsidiary borrowers under the incremental loan facility. Incremental loans may be in the form of additional term loan tranches or increases in the revolving credit facility. Our lenders have no obligation to make additional loans to us, or any designated subsidiary borrower, under the incremental facility, but may enter into such commitments in their sole discretion. | On February 9, 2012, Lamar Media completed an institutional private placement of $500,000 aggregate principle amount of 5 7/8% Senior Subordinated Notes, due 2022. The institutional private placement resulted in net proceeds to Lamar Media of approximately $489,000. | |||||||||||||||||||||||||
On April 18, 2014, Lamar Media entered into Amendment No. 1 to the Second Amended and Restated Credit Agreement (the “Amendment”) with Lamar Advertising, certain of Lamar Media’s subsidiaries as Guarantors, JPMorgan Chase Bank, N.A. as Administrative Agent and the Lenders named therein under which the parties agreed to amend Lamar Media’s existing senior credit facility on the terms set forth in the Amendment. The Amendment created a new $300,000 Term A Loan facility (the “Term A Loans”) and certain other amendments to the senior credit agreement. The Term A Loans are not incremental loans and do not reduce the existing $500,000 Incremental Loan facility. Lamar Media borrowed all $300,000 in Term A Loans on April 18, 2014. The net loan proceeds, together with borrowings under the revolving portion of the senior credit facility and cash on hand, were used to fund the redemption of all $400,000 in aggregate principal amount of Lamar Media’s 7 7/8% Notes due 2018 on April 21, 2014. | Lamar Media may redeem up to 35% of the aggregate principal amount of the Notes, at any time and from time to time, at a price equal to 105.875% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before February 1, 2015, provided that following the redemption, at least 65% of the Notes that were originally issued remain outstanding. At any time prior to February 1, 2017, Lamar Media may redeem some or all of the Notes at a price equal to 100% of the aggregate principal amount plus a make-whole premium. On or after February 1, 2017, Lamar Media may redeem the Notes, in whole or in part, in cash at redemption prices specified in the 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 Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, up to but not including the repurchase date. | |||||||||||||||||||||||||
The Term A Loans began amortizing on June 30, 2014 in quarterly installments on each September 30, December 31, March 31, and June 30 thereafter, as follows: | 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 institutional private placement resulted in net proceeds to Lamar Media of approximately $527,100. | ||||||||||||||||||||||||||
Lamar Media may redeem up to 35% of the aggregate principal amount of the Notes, at any time and from time to time, at a price equal to 105% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before November 1, 2015, provided that following the redemption, at least 65% of the Notes that were originally issued remain outstanding. At any time prior to May 1, 2018, Lamar Media may redeem some or all of the Notes at a price equal to 100% of the aggregate principal amount plus a make-whole premium. On or after May 1, 2018, Lamar Media may redeem the Notes, in whole or in part, in cash at redemption prices specified in the 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 Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest, up to but not including the repurchase date. | ||||||||||||||||||||||||||
Principal Payment Date | Principal Amount | Senior Credit Facility (as of December 31, 2013) | ||||||||||||||||||||||||
September 30, 2014-March 31, 2016 | $ | 3,750 | On February 9, 2012, Lamar Media entered into a restatement agreement with respect to its existing senior credit facility in order to fund a new $100,000 Term loan A facility and to make certain covenant changes to the senior credit facility, which was entered into on April 28, 2010, as amended on June 11, 2010, November 18, 2010 and February 9, 2012 and further amended on October 24, 2013, for which JPMorgan Chase Bank, N.A. serves as administrative agent. The senior credit facility consists of a $250,000 revolving credit facility, a $270,000 term loan A-1 facility, a $30,000 term loan A-2 facility, a $100,000 term loan A-3 facility, a $575,000 term loan B facility and a $300,000 incremental facility, which may be increased by up to an additional $200,000 based upon our satisfaction of a senior debt ratio test (defined as total consolidated senior debt of Lamar Media and its restricted subsidiaries to EBITDA, as defined in the senior credit facility for the most recent four fiscal quarters then ended) of less than or equal to 3.25 to 1. Lamar Media is the borrower under the senior credit facility, except with respect to the $30,000 term loan A-2 facility for which Lamar Media’s wholly owned subsidiary, Lamar Advertising of Puerto Rico, Inc. is the borrower. We may also from time to time designate additional wholly owned subsidiaries as subsidiary borrowers under the incremental loan facility that can borrow up to $110,000 of the incremental facility. Incremental loans may be in the form of additional term loan tranches or increases in the revolving credit facility. Our lenders have no obligation to make additional loans to us, or any designated subsidiary borrower, under the incremental facility, but may enter into such commitments in their sole discretion. | |||||||||||||||||||||||
June 30, 2016- March 31, 2017 | $ | 5,625 | The remaining quarterly amortizations of the Term facilities as of December 31, 2013 is as follows: | |||||||||||||||||||||||
June 30, 2017-December 31, 2018 | $ | 11,250 | ||||||||||||||||||||||||
Term A Loan Maturity Date | $ | 168,750 | ||||||||||||||||||||||||
The Term A Loans bear interest at rates based on the Adjusted LIBO Rate (“Eurodollar Term A Loans”) or the Adjusted Base Rate (“Base Rate Term A Loans”), at Lamar Media’s option. Eurodollar Term A Loans bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 2.00% (or the Adjusted LIBO Rate plus 1.75% at any time the Total Debt Ratio is less than or equal to 3.00 to 1). Base Rate Term A Loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 1.00% (or the Adjusted Base Rate plus 0.75% at any time the Total Debt Ratio is less than or equal to 3.00 to 1). The guarantees, covenants, events of default and other terms of the senior credit facility apply to the Term A Loans. | Term A-1 | Term A-2 | Term A-3 | Term B | ||||||||||||||||||||||
As of June 30, 2014, there was $85,000 outstanding under the revolving credit facility. Availability under the revolving facility is reduced by the amount of any letters of credit outstanding. Lamar Media had $6,973 letters of credit outstanding as of June 30, 2014 resulting in $308,027 of availability under its revolving facility. Revolving credit loans may be requested under the revolving credit facility at any time prior to its maturity on February 2, 2019, and bear interest, at Lamar Media’s option, at the Adjusted LIBOR Rate or the Adjusted Base Rate plus applicable margins, such margins are set at an initial rate with the possibility of a step down based on Lamar Media’s ratio of debt to trailing four quarters EBITDA, as defined in the senior credit facility. | March 31, 2014 | $ | 6,750 | $ | 750 | $ | 625 | $ | 57.5 | |||||||||||||||||
June 30, 2014 — December 31, 2014 | $ | 13,500 | $ | 1,500 | $ | 625 | $ | 57.4 | ||||||||||||||||||
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: | March 31, 2015 | $ | 13,500 | $ | 1,500 | $ | 1,250 | $ | 57.5 | |||||||||||||||||
June 30, 2015 — September 30, 2015 | $ | 37,125 | $ | 4,125 | $ | 1,250 | $ | 57.4 | ||||||||||||||||||
• | dispose of assets; | December 31, 2015 | $ | 74,250 | $ | 8,250 | $ | 1,250 | $ | 57.4 | ||||||||||||||||
March 31, 2016 — September 30, 2016 | $ | — | $ | — | $ | 1,250 | $ | 57.4 | ||||||||||||||||||
• | incur or repay debt; | December 31, 2016 | $ | — | $ | — | $ | 1,250 | $ | 21,474.70 | ||||||||||||||||
March 31, 2017— June 30, 2017 | $ | — | $ | — | $ | 21,250 | $ | — | ||||||||||||||||||
• | create liens; | August 9, 2017 | $ | — | $ | — | $ | 42,500 | $ | — | ||||||||||||||||
In addition to the amortizations of our Term facilities, Lamar Media may be required to make certain mandatory prepayments on loans outstanding under the senior credit facility that would be applied first to any outstanding term loans, commencing with the year ended December 31, 2010. These payments, if any, are determined annually and are calculated based on a percentage of Consolidated Excess Cash Flow (as defined in the senior credit facility) at the end of each fiscal year. For fiscal years ending on or after December 31, 2012, the percentage of Consolidated Excess Cash Flow that must be applied is subject to a reduction to 0% if the total holdings debt ratio, as described above, is less than or equal to 5.00 to 1.00 as of the last day of such fiscal year. The Company will not be required to make a mandatory prepayment in respect of Consolidated Excess Cash Flow for the fiscal year ended December 31, 2013 since there was a consolidated cash flow deficit, in accordance with the calculation as defined in the senior credit facility and the total holdings debt ratio was less than 5.0 to 1.0. | ||||||||||||||||||||||||||
• | make investments; and | As of December 31, 2013, there were $150,000 revolving credit loans outstanding under the revolving senior credit facility. The revolving facility terminates April 28, 2015. Availability under the revolving facility is reduced by the amount of letters of credit outstanding. The Company had $6,973 letters of credit outstanding as of December 31, 2013 and $93,027 availability under its revolving facility. Revolving credit loans may be requested under the revolving credit facility at any time prior to maturity. The loans bear interest, at the Company’s option, at the LIBOR Rate or JPMorgan Chase Prime Rate plus applicable margins, such margins being set from time to time based on the Company’s ratio of debt to trailing twelve month EBITDA, as defined in the senior credit facility. | ||||||||||||||||||||||||
The terms of Lamar Media’s senior credit facility and the indenture relating to Lamar Media’s outstanding notes restrict, among other things, the ability of Lamar Advertising and Lamar Media to: | ||||||||||||||||||||||||||
• | pay dividends. | |||||||||||||||||||||||||
The senior credit facility contains provisions that would allow Lamar Media to conduct its affairs in a manner that would allow 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. | • | dispose of assets; | ||||||||||||||||||||||||
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 senior debt ratio at all times 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 applicable senior credit agreement provisions during the periods presented. | • | incur or repay debt; | ||||||||||||||||||||||||
• | create liens; | |||||||||||||||||||||||||
• | make investments; and | |||||||||||||||||||||||||
• | pay dividends. | |||||||||||||||||||||||||
Lamar Media’s ability to make distributions to Lamar Advertising is also restricted under the terms of these agreements. Under Lamar Media’s senior credit facility the Company must maintain specified financial ratios and levels including: | ||||||||||||||||||||||||||
• | fixed charges coverage ratio; | |||||||||||||||||||||||||
• | senior debt ratio; and | |||||||||||||||||||||||||
• | total holdings debt ratio. | |||||||||||||||||||||||||
Lamar Advertising and Lamar Media were in compliance with all of the terms of all of the indentures and the applicable senior credit agreement during the periods presented. | ||||||||||||||||||||||||||
LAMAR MEDIA CORP [Member] | ' | ' | ||||||||||||||||||||||||
Long-term Debt | ' | ' | ||||||||||||||||||||||||
(5) Long-term Debt | ||||||||||||||||||||||||||
Long-term debt consists of the following at December 31, 2013 and 2012: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Senior Credit Agreement | $ | 502,106 | $ | 384,664 | ||||||||||||||||||||||
7 7/8% Senior Subordinated Notes | 400,000 | 400,000 | ||||||||||||||||||||||||
5 7/8% Senior Subordinated Notes | 500,000 | 500,000 | ||||||||||||||||||||||||
5% Senior Subordinated Notes | 535,000 | 535,000 | ||||||||||||||||||||||||
9 3/4% Senior Notes | — | 339,121 | ||||||||||||||||||||||||
Other notes with various rates and terms | 1,696 | 2,069 | ||||||||||||||||||||||||
1,938,802 | 2,160,854 | |||||||||||||||||||||||||
Less current maturities | (55,935 | ) | (33,134 | ) | ||||||||||||||||||||||
Long-term debt excluding current maturities | $ | 1,882,867 | $ | 2,127,720 | ||||||||||||||||||||||
Long-term debt matures as follows: | ||||||||||||||||||||||||||
2014 | $ | 55,935 | ||||||||||||||||||||||||
2015 | $ | 335,698 | ||||||||||||||||||||||||
2016 | $ | 27,142 | ||||||||||||||||||||||||
2017 | $ | 85,000 | ||||||||||||||||||||||||
2018 | $ | 400,000 | ||||||||||||||||||||||||
Later years | $ | 1,035,027 |
Asset_Retirement_Obligation
Asset Retirement Obligation | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ' | ||||||||
Asset Retirement Obligation | ' | ' | ||||||||
5. Asset Retirement Obligations | (9) Asset Retirement Obligation | |||||||||
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: | The Company’s asset retirement obligation includes the costs associated with the removal of its structures, resurfacing of the land and retirement cost, if applicable, related to the Company’s outdoor advertising portfolio. The following table reflects information related to our asset retirement obligations: | |||||||||
Balance at December 31, 2013 | $ | 200,831 | Balance at December 31, 2011 | $ | 180,662 | |||||
Additions to asset retirement obligations | 636 | Additions to asset retirement obligations | 5,434 | |||||||
Accretion expense | 2,647 | Accretion expense | 10,871 | |||||||
Liabilities settled | (1,341 | ) | Liabilities settled | (7,308 | ) | |||||
Balance at June 30, 2014 | $ | 202,773 | Balance at December 31, 2012 | 189,659 | ||||||
Additions to asset retirement obligations | 3,741 | |||||||||
Accretion expense | 11,046 | |||||||||
Liabilities settled | (3,615 | ) | ||||||||
Balance at December 31, 2013 | $ | 200,831 | ||||||||
Depreciation_and_Amortization
Depreciation and Amortization | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||
Depreciation and Amortization | ' | ' | ||||||||||||||||||||||||||||
3. Depreciation and Amortization | (10) Depreciation and Amortization | |||||||||||||||||||||||||||||
The Company includes all categories of depreciation and amortization on a separate line in its Statements of Operations and Comprehensive Income. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statements of Operations and Comprehensive Income are: | The Company includes all categories of depreciation and amortization on a separate line in its Statements of Operations. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statements of Operations are: | |||||||||||||||||||||||||||||
Three months ended | Six months ended | Year Ended December 31, | ||||||||||||||||||||||||||||
June 30, | June 30, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Direct expenses | $ | 283,280 | $ | 277,662 | $ | 283,720 | ||||||||||||||||||||
Direct advertising expenses | $ | 66,946 | $ | 69,999 | $ | 132,538 | $ | 138,225 | General and administrative expenses | 4,684 | 4,137 | 4,224 | ||||||||||||||||||
General and administrative expenses | 1,080 | 894 | 2,101 | 1,770 | Corporate expenses | 12,615 | 14,284 | 11,695 | ||||||||||||||||||||||
Corporate expenses | 3,023 | 1,515 | 5,936 | 6,314 | ||||||||||||||||||||||||||
$ | 300,579 | $ | 296,083 | $ | 299,639 | |||||||||||||||||||||||||
$ | 71,049 | $ | 72,408 | $ | 140,575 | $ | 146,309 | |||||||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Taxes | ' | ||||||||||||
(11) Income Taxes | |||||||||||||
Income tax expense (benefit) consists of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended December 31, 2013: | |||||||||||||
U.S. federal | $ | 930 | $ | 21,681 | $ | 22,611 | |||||||
State and local | 1,609 | 1,165 | 2,774 | ||||||||||
Foreign | 1,553 | (4,097 | ) | (2,544 | ) | ||||||||
$ | 4,092 | $ | 18,749 | $ | 22,841 | ||||||||
Year ended December 31, 2012: | |||||||||||||
U.S. federal | $ | — | $ | 6,743 | $ | 6,743 | |||||||
State and local | 823 | 826 | 1,649 | ||||||||||
Foreign | 1,103 | (1,253 | ) | (150 | ) | ||||||||
$ | 1,926 | $ | 6,316 | $ | 8,242 | ||||||||
Year ended December 31, 2011: | |||||||||||||
U.S. federal | $ | — | $ | 1,883 | $ | 1,883 | |||||||
State and local | 1,074 | 1,125 | 2,199 | ||||||||||
Foreign | 1,847 | (387 | ) | 1,460 | |||||||||
$ | 2,921 | $ | 2,621 | $ | 5,542 | ||||||||
As of December 31, 2013 and December 31, 2012, the Company had income taxes payable of $848 and $252, respectively, included in accrued expenses. | |||||||||||||
The U.S. and foreign components of earnings before income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 62,506 | $ | 17,279 | $ | 13,868 | |||||||
Foreign | 474 | (1,147 | ) | (1,468 | ) | ||||||||
Total | $ | 62,980 | $ | 16,132 | $ | 12,400 | |||||||
A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 35 percent to income before taxes is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income tax expense at U.S. federal statutory rate | $ | 22,043 | $ | 5,646 | $ | 4,340 | |||||||
State and local income taxes, net of federal income tax benefit | 3,585 | 1,541 | 847 | ||||||||||
Book expenses not deductible for tax purposes | 1,351 | 1,058 | 746 | ||||||||||
Stock-based compensation | 65 | 270 | 464 | ||||||||||
Undistributed earnings of Canadian subsidiaries (a) | — | — | (4,023 | ) | |||||||||
Valuation allowance | (1,097 | ) | (331 | ) | 382 | ||||||||
Rate change (b) | (2,565 | ) | 49 | 1,743 | |||||||||
Other differences, net | (541 | ) | 9 | 1,043 | |||||||||
Income tax expense | $ | 22,841 | $ | 8,242 | $ | 5,542 | |||||||
(a) | For the period ended December 31, 2011, management asserted that the undistributed earnings of our Canadian subsidiaries were permanently reinvested and a deferred tax benefit of $4,023 was recognized from the release of the December 31, 2010 deferred tax liability. In periods prior to December 31, 2011, the undistributed earnings of our Canadian subsidiaries were not designated as permanently reinvested. | ||||||||||||
(b) | In 2013, the “Tax Burden Adjustment and Redistribution Act” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was increased to 39% from 30%. As a result, a non-cash benefit of $2,479 to income tax expense was recorded for the increase of the Puerto Rico net deferred tax asset. Also in 2013, British Columbia Bill 2 was signed into law. The enacted legislation increased the general corporate income tax rate to 11% from 10%. As a result, a non-cash benefit of $86 to income tax expense was recorded for the increase of the Canadian net deferred tax asset. | ||||||||||||
In 2012, Ontario Bill 114 was signed into law. The enacted legislation freezes the general corporate income tax rate at 11.5%, cancelling the previously enacted rate reductions for 2012 and 2013 to 11% and 10%, respectively. As a result, a non-cash charge of $49 to income tax expense was recorded for the increase of the Canadian net deferred tax liability. | |||||||||||||
In 2011, the “Internal Revenue Code for a New Puerto Rico” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was lowered from 39% to 30%. As a result, a non-cash charge of $1,743 to income tax expense was recorded for the reduction of the Puerto Rico net deferred tax asset. | |||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and (liabilities) are presented below: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 2,972 | $ | 2,964 | |||||||||
Accrued liabilities not deducted for tax purposes | 37,764 | 35,580 | |||||||||||
Asset retirement obligation | 70,166 | 65,994 | |||||||||||
Net operating loss carry forwards | 138,865 | 163,597 | |||||||||||
Tax credit carry forwards | 4,844 | 3,765 | |||||||||||
Charitable contributions carry forward | 9 | 592 | |||||||||||
Gross deferred tax assets | 254,620 | 272,492 | |||||||||||
Less: valuation allowance | (2,331 | ) | (3,424 | ) | |||||||||
Net deferred tax assets | 252,289 | 269,068 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment | (45,160 | ) | (48,271 | ) | |||||||||
Intangibles | (314,382 | ) | (308,266 | ) | |||||||||
Investment in partnerships | (1,519 | ) | (1,244 | ) | |||||||||
Gross deferred tax liabilities | (361,061 | ) | (357,781 | ) | |||||||||
Net deferred tax liabilities | $ | (108,772 | ) | $ | (88,713 | ) | |||||||
Classification in the consolidated balance sheets: | |||||||||||||
Current deferred tax assets | $ | 10,378 | $ | 10,817 | |||||||||
Current deferred tax liabilities | — | — | |||||||||||
Noncurrent deferred tax assets | — | — | |||||||||||
Noncurrent deferred tax liabilities | (119,150 | ) | (99,530 | ) | |||||||||
Net deferred tax liabilities | $ | (108,772 | ) | $ | (88,713 | ) | |||||||
During 2013, we utilized $65,641 of U.S. net operating losses, leaving $305,172 of U.S. net operating loss carry forwards remaining at December 31, 2013 to offset future taxable income. Of this amount, $13,049 is subject to an IRC §382 limitation, but will be available to be fully utilized by no later than 2017. These carry forwards expire between 2020 through 2032. In addition, we have $4,443 of various credits available to offset future U.S. federal income tax. | |||||||||||||
As of December 31, 2013 we have approximately $430,191 of state net operating loss carry forwards before valuation allowances. These state net operating losses are available to reduce future taxable income and expire at various times and amounts. In addition, we have $247 of various credits available to offset future state income tax. Management has determined that a valuation allowance related to state net operating loss carry forwards in certain jurisdictions is necessary. The valuation allowance for these deferred tax assets as of December 31, 2013 and December 31, 2012, was $2,323 and $3,410, respectively. The net change in the total valuation allowance for each of the years ended December 31, 2013, 2012, and 2011 was a (decrease) increase of $(1,087), $(332) and $410, respectively. | |||||||||||||
During 2013, we generated $3,285 of Puerto Rico net operating losses. As of December 31, 2013, we had approximately $28,523 of Puerto Rico net operating losses available to offset future taxable income. These carry forwards expire between 2016 and 2023. In addition, we have $154 of alternative minimum tax credits available to offset future Puerto Rico income tax. | |||||||||||||
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those jurisdictions during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income, and tax-planning strategies in making this assessment. In order to fully realize the deferred tax assets, the Company will need to generate future taxable income before the expiration of the carry forwards governed by the tax code. Based on the current level of pretax earnings and projected decreases in future depreciation and amortization, the Company will generate the minimum amount of future taxable income to support the realization of the deferred tax assets. Additionally, the Company has a significant amount of deferred tax liabilities that will reverse during the same period and jurisdiction and are of the same character as the temporary differences giving rise to the deferred tax assets. As a result, management believes that it is more likely than not that we will realize the benefits of these deferred tax assets, net of the existing valuation allowances at December 31, 2013. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. | |||||||||||||
We have not recognized a deferred tax liability of approximately $7,583 for the undistributed earnings of our Canadian operations that arose in 2013 and prior years as management considers these earnings to be indefinitely invested outside the U.S. As of December 31, 2013, the undistributed earnings of these subsidiaries were approximately $21,665. | |||||||||||||
Under ASC 740, we provide for uncertain tax positions, and the related interest, and adjust recognized tax benefits and accrued interest accordingly. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
Balance as of December 31, 2011 | $ | 135 | |||||||||||
Additions for tax positions related to current year | 3 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (63 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2012 | $ | 75 | |||||||||||
Additions for tax positions related to current year | 1 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (41 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2013 | $ | 35 | |||||||||||
Included in the balance of unrecognized benefits at December 31, 2013 is $35 of tax benefits that, if recognized in future periods, would impact our effective tax rate. | |||||||||||||
During the years ended December 31, 2013 and December 31, 2012, we recognized interest and penalties of $1 and $3, respectively, as components of income tax expense in connection with our liabilities related to uncertain tax positions. Interest and penalties included in the balance at December 31, 2013 and December 31, 2012, was $4 and $14, respectively. | |||||||||||||
We are subject to income taxes in the U.S. and nearly all states. In addition, the Company is subject to income taxes in Canada and the Commonwealth of Puerto Rico. We are no longer subject to U.S federal income tax examinations by tax authorities for years before 2010 since the IRS has completed review of our income tax returns through 2009, or for any U.S. state income tax audit prior to 2002. With respect to Canada and Puerto Rico, we are no longer subject to income tax audits for years before 2009 and 2008, respectively. | |||||||||||||
Within the next twelve months, it is reasonably possible, that we could decrease our unrecognized tax benefits up to $35 as a result of the expiration of statute of limitations. | |||||||||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
(6) Income Taxes | |||||||||||||
Income tax expense (benefit) consists of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended December 31, 2013: | |||||||||||||
U.S. federal | $ | 930 | $ | 21,798 | $ | 22,728 | |||||||
State and local | 1,609 | 1,184 | 2,793 | ||||||||||
Foreign | 1,553 | (4,097 | ) | (2,544 | ) | ||||||||
$ | 4,092 | $ | 18,885 | $ | 22,977 | ||||||||
Year ended December 31, 2012: | |||||||||||||
U.S. federal | $ | — | $ | 6,859 | $ | 6,859 | |||||||
State and local | 824 | 820 | 1,644 | ||||||||||
Foreign | 1,103 | (1,253 | ) | (150 | ) | ||||||||
$ | 1,927 | $ | 6,426 | $ | 8,353 | ||||||||
Year ended December 31, 2011: | |||||||||||||
U.S. federal | $ | — | $ | 2,007 | $ | 2,007 | |||||||
State and local | 1,075 | 1,295 | 2,370 | ||||||||||
Foreign | 1,847 | (386 | ) | 1,461 | |||||||||
$ | 2,922 | $ | 2,916 | $ | 5,838 | ||||||||
As of December 31, 2013 and December 31, 2012, the Company had income taxes payable of $630 and $0, respectively, included in accrued expenses. | |||||||||||||
The U.S. and foreign components of earnings before income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 62,841 | $ | 17,615 | $ | 14,226 | |||||||
Foreign | 474 | (1,147 | ) | (1,468 | ) | ||||||||
Total | $ | 63,315 | $ | 16,468 | $ | 12,758 | |||||||
A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 35 percent to income before taxes is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income tax expense at U.S. federal statutory rate | $ | 22,160 | $ | 5,764 | $ | 4,465 | |||||||
State and local income taxes, net of federal income tax benefit | 3,601 | 1,557 | 865 | ||||||||||
Book expenses not deductible for tax purposes | 1,351 | 1,058 | 746 | ||||||||||
Stock-based compensation | 65 | 270 | 464 | ||||||||||
Amortization of non-deductible goodwill | — | — | 1 | ||||||||||
Undistributed earnings of Canadian subsidiaries (a) | — | — | (4,023 | ) | |||||||||
Valuation allowance | (1,094 | ) | (354 | ) | 382 | ||||||||
Rate Change (b) | (2,565 | ) | 49 | 1,743 | |||||||||
Other differences, net | (541 | ) | 9 | 1,195 | |||||||||
Income tax expense | $ | 22,977 | $ | 8,353 | $ | 5,838 | |||||||
(a) | In periods prior to December 31, 2011, the undistributed earnings of our Canadian subsidiaries were not designated as permanently reinvested. For the period ended December 31, 2011, management asserted that the undistributed earnings of our Canadian subsidiaries were permanently reinvested and a deferred tax benefit of $4,023 was recognized from the release of the December 31, 2010 deferred tax liability. | ||||||||||||
(b) | In 2013, the “Tax Burden Adjustment and Redistribution Act” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was increased to 39% from 30%. As a result, a non-cash benefit of $2,479 to income tax expense was recorded for the increase of the Puerto Rico net deferred tax asset. Also in 2013, British Columbia Bill 2 was signed into law. The enacted legislation increased the general corporate income tax rate to 11% from 10%. As a result, a non-cash benefit of $86 to income tax expense was recorded for the increase of the Canadian net deferred tax asset. | ||||||||||||
In 2012, Ontario Bill 114 was signed into law. The enacted legislation freezes the general corporate income tax rate at 11.5%, cancelling the previously enacted rate reductions for 2012 and 2013 to 11% and 10%, respectively. As a result, a non-cash charge of $49 to income tax expense was recorded for the increase of the Canadian net deferred tax liability. | |||||||||||||
In 2011, the “Internal Revenue Code for a New Puerto Rico” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was lowered from 39% to 30%. As a result, a non-cash charge of $1,743 to income tax expense was recorded for the reduction of the Puerto Rico net deferred tax asset. | |||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and (liabilities) are presented below: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 2,972 | $ | 2,964 | |||||||||
Accrued liabilities not deducted for tax purposes | 37,764 | 35,580 | |||||||||||
Asset retirement obligation | 70,166 | 65,994 | |||||||||||
Net operating loss carry forwards | 89,496 | 114,361 | |||||||||||
Tax credit carry forwards | 19,615 | 18,537 | |||||||||||
Charitable contributions carry forward | 9 | 592 | |||||||||||
Gross deferred tax assets | 220,022 | 238,028 | |||||||||||
Less: valuation allowance | (1,760 | ) | (2,851 | ) | |||||||||
Net deferred tax assets | 218,262 | 235,177 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment | (45,160 | ) | (48,271 | ) | |||||||||
Intangibles | (313,746 | ) | (307,630 | ) | |||||||||
Investment in partnerships | (1,519 | ) | (1,244 | ) | |||||||||
Gross deferred tax liabilities | (360,425 | ) | (357,145 | ) | |||||||||
Net deferred tax liabilities | $ | (142,163 | ) | $ | (121,968 | ) | |||||||
Classification in the consolidated balance sheets: | |||||||||||||
Current deferred tax assets | $ | 10,378 | $ | 10,817 | |||||||||
Current deferred tax liabilities | — | — | |||||||||||
Noncurrent deferred tax assets | — | — | |||||||||||
Noncurrent deferred tax liabilities | (152,541 | ) | (132,785 | ) | |||||||||
Net deferred tax liabilities | $ | (142,163 | ) | $ | (121,968 | ) | |||||||
During 2013, we utilized $65,976 of U.S. net operating losses, leaving $169,411 of U.S. net operating loss carry forwards remaining at December 31, 2013, to offset future taxable income. Of this amount, $13,049 is subject to an IRC §382 limitation, but will be available to be fully utilized by no later than 2017. These carry forwards expire between 2020 and 2032. In addition, we have $19,214 of various credits available to offset future U.S. federal income tax. | |||||||||||||
As of December 31, 2013, we have approximately $392,470 state net operating loss carry forwards before valuation allowances. These state net operating losses are available to reduce future taxable income and expire at various times and amounts. In addition, we have $247 of various credits available to offset future state income tax. Management has determined that a valuation allowance related to state net operating loss carry forwards is necessary. The valuation allowance for these deferred tax assets as of December 31, 2013 and December 31, 2012 was $1,751 and $2,836, respectively. The net change in the total valuation allowance for each of the years ended December 31, 2013, 2012, and 2011 was a (decrease) increase of $(1,085), $(356) and $407, respectively. | |||||||||||||
During 2013, we generated $3,285 of Puerto Rico net operating losses. As of December 31, 2013, we had approximately $28,523 of Puerto Rico net operating losses available to offset future taxable income. These carry forwards expire between 2016 and 2023. In addition, we have $154 of alternative minimum tax credits available to offset future Puerto Rico income tax. | |||||||||||||
In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those jurisdictions during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income, and tax-planning strategies in making this assessment. In order to fully realize the deferred tax assets, the company will need to generate future taxable income before the expiration of the carry forwards governed by the tax code. Based on the current level of pretax earnings for financial reporting purposes and projected decreases in future depreciation and amortization, we will generate the minimum amount of future taxable income to support the realization of the deferred tax assets. Additionally, the company has a significant amount of deferred tax liabilities that will reverse during the same period and jurisdiction and is of the same character as the temporary differences giving rise to the deferred tax assets. As a result, management believes that it is more likely than not that we will realize the benefits of these deferred tax assets, net of the existing valuation allowances at December 31, 2013. The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. | |||||||||||||
We have not recognized a deferred tax liability of approximately $7,583 for the undistributed earnings of our Canadian operations that arose in 2013 and prior years as management considers these earnings to be indefinitely invested outside the U.S. As of December 31, 2013, the undistributed earnings of these subsidiaries were approximately $21,665. | |||||||||||||
Under ASC 740, we provide for uncertain tax positions, and the related interest, and adjust recognized tax benefits and accrued interest accordingly. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
Balance as of December 31, 2011 | $ | 135 | |||||||||||
Additions for tax positions related to current year | 3 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (63 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2012 | $ | 75 | |||||||||||
Additions for tax positions related to current year | 1 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (41 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2013 | $ | 35 | |||||||||||
Included in the balance of unrecognized benefits at December 31, 2013 is $35 of tax benefits that, if recognized in future periods, would impact our effective tax rate. | |||||||||||||
During the years ended December 31, 2013 and December 31, 2012, we recognized interest and penalties of $1 and $3, respectively, as components of income tax expense in connection with our liabilities related to uncertain tax positions. Interest and penalties included in the balance at December 31, 2013 and December 31, 2012, was $4 and $14, respectively. | |||||||||||||
We are subject to income taxes in the U.S. and nearly all states. In addition, the Company is subject to income taxes in Canada and the Commonwealth of Puerto Rico. We are no longer subject to U.S federal income tax examinations by tax authorities for years before 2010 since the IRS has completed review of our income tax returns through 2009, or for any U.S. state income tax audit prior to 2002. With respect to Canada and Puerto Rico, we are no longer subject to income tax audits for years before 2009 and 2008, respectively. | |||||||||||||
Within the next twelve months, it is reasonably possible, that we could decrease our unrecognized tax benefits up to $35 as a result of the expiration of statute of limitations. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions | ' |
(12) Related Party Transactions | |
Affiliates, as used within these statements, are persons or entities that are affiliated with Lamar Advertising Company or its subsidiaries through common ownership and directorate control. | |
Prior to 1996, the Company entered into various related party transactions for the purchase and sale of advertising structures whereby any resulting gains were deferred at that date. As of December 31, 2013 and 2012, the deferred gains related to these transactions were $85, respectively, and are included in deferred income on the balance sheets. No gains related to these transactions have been realized in the Statements of Operations for the years ended December 31, 2013, 2012 and 2011. | |
In addition, the Company had receivables from employees of $126 and $57 at December 31, 2013 and 2012, respectively. These receivables are primarily relocation loans for employees. The Company does not have any receivables from its current executive officers. | |
In June 2011, the Company entered into a service contract with Joule Energy LA, LLC (“Joule”), of which Ross L. Reilly is a member and owns 26.66% interest. Joule provides services related to the Company’s installation of solar arrays in the State of Louisiana, which services are expected to be completed in 2012 and 2013. In addition, from time to time beginning in 2012, Joule provides lighting installation services for certain of Lamar Advertising’s billboards in the state of Louisiana. As of December 31, 2013, the aggregate amount paid to Joule under the service contract was approximately $1,538. Ross L. Reilly is the son of Kevin P. Reilly, Jr., our Chairman of the Board of Directors and President. | |
LAMAR MEDIA CORP [Member] | ' |
Related Party Transactions | ' |
(7) Related Party Transactions | |
Affiliates, as used within these statements, are persons or entities that are affiliated with Lamar Media Corp. or its subsidiaries through common ownership and directorate control. | |
As of December 31, 2013 and December 31, 2012, there was a payable to Lamar Advertising Company, its parent, in the amount of $7,665 and $8,356, respectively. | |
Effective December 31, 2013 and December 31, 2012, Lamar Advertising Company contributed $37,858 and $26,839 respectively, to Lamar Media which resulted in an increase in Lamar Media’s additional paid-in capital. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
(13) Stockholders’ Equity | |
On July 16, 1999, the Board of Directors designated 5,720 shares of the 1,000,000 shares of previously undesignated preferred stock, par value $.001, as Series AA preferred stock. The Class A preferred stock, par value $638, was exchanged for the new Series AA preferred stock and no shares of Class A preferred stock are currently outstanding. The new Series AA preferred stock and the class A preferred stock rank senior to the Class A common stock and Class B common stock with respect to dividends and upon liquidation. Holders of Series AA preferred stock and Class A preferred stock are entitled to receive, on a pari passu basis, dividends at the rate of $15.95 per share per quarter when, as and if declared by the Board of Directors. The Series AA preferred stock and the Class A preferred stock are also entitled to receive, on a pari passu basis, $638 plus a further amount equal to any dividend accrued and unpaid to the date of distribution before any payments are made or assets distributed to the Class A common stock or Class B stock upon voluntary or involuntary liquidation, dissolution or winding up of the Company. The liquidation value of the outstanding Series AA preferred stock at December 31, 2013 was $3,649. The Series AA preferred stock and the Class A preferred stock are identical, except that the Series AA preferred stock is entitled to one vote per share and the Class A preferred stock is not entitled to vote. | |
All of the outstanding shares of common stock are fully paid and nonassessable. In the event of the liquidation or dissolution of the Company, following any required distribution to the holders of outstanding shares of preferred stock, the holders of common stock are entitled to share pro rata in any balance of the corporate assets available for distribution to them. The Company may pay dividends if, when and as declared by the Board of Directors from funds legally available therefore, subject to the restrictions set forth in the Company’s existing indentures and the senior credit facility. Subject to the preferential rights of the holders of any class of preferred stock, holders of shares of common stock are entitled to receive such dividends as may be declared by the Company’s Board of directors out of funds legally available for such purpose. No dividend may be declared or paid in cash or property on any share of either class of common stock unless simultaneously the same dividend is declared or paid on each share of the other class of common stock, provided that, in the event of stock dividends, holders of a specific class of common stock shall be entitled to receive only additional shares of such class. | |
The rights of the Class A and Class B common stock are equal in all respects, except holders of Class B common stock have ten votes per share on all matters in which the holders of common stock are entitled to vote and holders of Class A common stock have one vote per share on such matters. The Class B common stock will convert automatically into Class A common stock upon the sale or transfer to persons other than permitted transferees (as defined in the Company’s certificate of incorporation, as amended). |
Stock_Compensation_Plans
Stock Compensation Plans | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ||||||||||||||||||||
Stock Compensation Plans | ' | ' | ||||||||||||||||||||
(14) Stock Compensation Plans | ||||||||||||||||||||||
2. Stock-Based Compensation | Equity Incentive Plan. Lamar’s 1996 Equity Incentive Plan, as amended, (the “Incentive Plan”) has reserved 15.5 million shares of common stock for issuance to directors and employees, including options granted and common stock reserved for issuance under its performance-based incentive program. Options granted under the plan expire ten years from the grant date with vesting terms ranging from three to five years which primarily includes 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date. All grants are made at fair market value based on the closing price of our Class A common stock as reported on the NASDAQ Global Select Market on the date of grant. | |||||||||||||||||||||
In May 2013, the Incentive Plan was amended to increase the number of shares available by 2.5 million shares. In February 2013, the plan was amended to eliminate the provision that limited the amount of Class A Common Stock, including shares retained from an award, that could be withheld to satisfy tax withholding obligations to the minimum tax obligations required by law (except with respect to option awards). In accordance with ASC 718, the Company is required to classify the awards affected by the amendment as liability-classified awards at fair value each period prior to their settlement. As of December 31, 2013, the Company recorded a liability, in accrued expenses, of $6,757 related to its equity incentive awards affected by this amendment. | ||||||||||||||||||||||
Equity Incentive Plan. Lamar Advertising’s 1996 Equity Incentive Plan, as amended, (the “Incentive Plan”) has reserved 15.5 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 highly subjective assumptions, including expected term and expected volatility. We have reviewed our historical pattern of option exercises and have determined that meaningful differences in option exercise activity existed among vesting schedules. Therefore, for all stock options granted after January 1, 2006, we have categorized these awards into two groups of vesting 1) 5-year cliff vest and 2) 4-year graded vest, for valuation purposes. We have determined there were no meaningful differences in employee activity under our ESPP due to the nature of the plan. | |||||||||||||||||||||
We estimate the expected term of options granted using an implied life derived from the results of a hypothetical mid-point settlement scenario, which incorporates our historical exercise, expiration and post-vesting employment termination patterns, while accommodating for partial life cycle effects. We believe these estimates will approximate future behavior. | ||||||||||||||||||||||
We 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 51,000 shares of its Class A common stock during the six months ended June 30, 2014. | We estimate the expected volatility of our Class A common stock at the grant date using a blend of 75% historical volatility of our Class A common stock and 25% implied volatility of publicly traded options with maturities greater than six months on our Class A common stock as of the option grant date. Our decision to use a blend of historical and implied volatility was based upon the volume of actively traded options on our common stock and our belief that historical volatility alone may not be completely representative of future stock price trends. | |||||||||||||||||||||
Our risk-free interest rate assumption is determined using the Federal Reserve nominal rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. We assumed an expected dividend yield of zero since the Company has historically not paid dividends on Class A common stock, except for special dividends in 2007. | ||||||||||||||||||||||
Stock Purchase Plan. In 2009 our Board of Directors adopted a new employee stock purchase plan, the 2009 Employee Stock Purchase Plan or 2009 ESPP, which was approved by our shareholders on May 28, 2009. The 2009 ESPP reserved 588,154 shares of Class A common stock for issuance to our employees, which included 88,154 shares of Class A common stock that had been available for issuance under our 2000 Employee Stock Purchase Plan or 2000 ESPP. The 2000 ESPP was terminated following the issuance of all shares that were subject to the offer that commenced under the 2000 ESPP on January 1, 2009 and ended June 30, 2009. The terms of the 2009 ESPP are substantially the same as the 2000 ESPP. | We estimate option forfeitures at the time of grant and periodically revise those estimates in subsequent periods if actual forfeitures differ from those estimates. We record stock-based compensation expense only for those awards expected to vest using an estimated forfeiture rate based on our historical forfeiture data. | |||||||||||||||||||||
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used: | ||||||||||||||||||||||
The number of shares of Class A common stock available under the 2009 ESPP was automatically increased by 80,209 shares on January 1, 2014 pursuant to the automatic increase provisions of the 2009 ESPP. | ||||||||||||||||||||||
Grant Year | Dividend | Expected | Risk Free | Expected | ||||||||||||||||||
Yield | Volatility | Interest Rate | Lives | |||||||||||||||||||
The following is a summary of 2009 ESPP share activity for the six months ended June 30, 2014: | 2013 | 0 | % | 51 | % | 1 | % | 6 | ||||||||||||||
2012 | 0 | % | 52 | % | 2 | % | 5 | |||||||||||||||
2011 | 0 | % | 52 | % | 2 | % | 5 | |||||||||||||||
Information regarding the 1996 Plan for the year ended December 31, 2013 is as follows: | ||||||||||||||||||||||
Shares | ||||||||||||||||||||||
Available for future purchases, January 1, 2014 | 327,689 | |||||||||||||||||||||
Additional shares reserved under 2009 ESPP | 80,209 | Shares | Weighted | Weighted | ||||||||||||||||||
Purchases | (51,045 | ) | Average | Average | ||||||||||||||||||
Exercise | Contractual | |||||||||||||||||||||
Available for future purchases, June 30, 2014 | 356,853 | Price | Life | |||||||||||||||||||
Outstanding, beginning of year | 2,124,886 | $ | 22.36 | |||||||||||||||||||
Granted | 1,807,000 | 42.31 | ||||||||||||||||||||
Performance-based compensation. Unrestricted shares of our Class A common stock may be awarded to key officers, employees and directors under our 1996 Equity 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 2014 results. Any shares issued based on the achievement of performance goals will be issued in the first quarter of 2015. 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, 2014, the Company has recorded $5,341 as stock-based compensation expense related to performance-based awards. In addition, each non-employee director automatically receives upon election or re-election a restricted stock award of our Class A common stock. The awards vest 50% on grant date and 50% on the last day of the directors’ one year term. The Company recorded a $192 non-cash compensation expense related to these awards for the six months ended June 30, 2014. | Exercised | (682,263 | ) | 24.9 | ||||||||||||||||||
Canceled | (17,200 | ) | 38.73 | |||||||||||||||||||
Outstanding, end of year | 3,232,423 | $ | 32.89 | 7.37 | ||||||||||||||||||
Exercisable at end of year | 1,737,823 | $ | 25.16 | 5.95 | ||||||||||||||||||
At December 31, 2013 there was $24,107 of unrecognized compensation cost related to stock options granted which is expected to be recognized over a weighted-average period of 2.00 years. | ||||||||||||||||||||||
Shares available for future stock option and restricted share grants to employees and directors under existing plans were 2,797,768 at December 31, 2013. The aggregate intrinsic value of options outstanding as of December 31, 2013 was $62,609, and the aggregate intrinsic value of options exercisable was $47,085. Total intrinsic value of options exercised was $15,362 for the year ended December 31, 2013. | ||||||||||||||||||||||
Stock Purchase Plan. In 2009 our board of directors adopted a new employee stock purchase plan, the 2009 Employee Stock Purchase Plan or 2009 ESPP, which was approved by our shareholders on May 28, 2009. The 2009 ESPP reserved 588,154 shares of Class A common stock for issuance to our employees, which included 88,154 shares of Class A common stock that had been available for issuance under our 2000 Employee Stock Purchase Plan or 2000 ESPP. The 2000 ESPP was terminated following the issuance of all shares that were subject to the offer that commenced under the 2000 ESPP on January 1, 2009 and ended June 30, 2009. The terms of the 2009 ESPP are substantially the same as the 2000 ESPP. | ||||||||||||||||||||||
The number of shares of Class A common stock available under the 2009 ESPP was automatically increased by 78,963 shares on January 1, 2013 pursuant to the automatic increase provisions of the 2009 ESPP. | ||||||||||||||||||||||
The following is a summary of 2009 ESPP share activity for the year ended December 31, 2013: | ||||||||||||||||||||||
Shares | ||||||||||||||||||||||
Available for future purchases, January 1, 2013 | 358,950 | |||||||||||||||||||||
Additional shares reserved under 2009 ESPP | 78,963 | |||||||||||||||||||||
Purchases | (110,224 | ) | ||||||||||||||||||||
Available for future purchases, December 31, 2013 | 327,689 | |||||||||||||||||||||
Performance-based compensation. Unrestricted shares of our Class A common stock may be awarded to key officers and employees under our 1996 Plan based on certain Company performance measures for fiscal 2013. The number of shares to be issued; if any, are dependent on the level of achievement of these performance measures as determined by the Company’s Compensation Committee based on our 2013 results and were issued in the first quarter of 2014. The shares subject to these awards can range from a minimum of 0% to a maximum of 100% of the target number of shares depending on the level at which the goals are attained. Based on the Company’s performance measures achieved through December 31, 2013, the Company has accrued $7,231 as compensation expense related to these agreements. |
Benefit_Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' |
Benefit Plans | ' |
(15) Benefit Plans | |
The Company sponsors a partially self-insured group health insurance program. The Company is obligated to pay all claims under the program, which are in excess of premiums, up to program limits. The Company is also self-insured with respect to its income disability benefits and against casualty losses on advertising structures. Amounts for expected losses, including a provision for losses incurred but not reported, is included in accrued expenses in the accompanying consolidated financial statements. As of December 31, 2013, the Company maintained $6,751 in letters of credit with a bank to meet requirements of the Company’s worker’s compensation and general liability insurance carrier. | |
Savings and Profit Sharing Plan | |
The Company sponsors The Lamar Corporation Savings and Profit Sharing Plan covering eligible employees who have completed one year of service and are at least 21 years of age. The Company has the option to match 50% of employees’ contributions up to 5% of eligible compensation. Employees can contribute up to 100% of compensation. Full vesting on the Company’s matched contributions occurs after three years for contributions made after January 1, 2002. Annually, at the Company’s discretion, an additional profit sharing contribution may be made on behalf of each eligible employee. The Company matched contributions of $3,581, $3,184 and $2,870 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Deferred Compensation Plan | |
The Company sponsors a Deferred Compensation Plan for the benefit of certain of its board-elected officers who meet specific age and years of service and other criteria. Officers that have attained the age of 30 and have a minimum of 10 years of service to the Company and satisfying additional eligibility guidelines are eligible for annual contributions to the Plan generally ranging from $3 to $8, depending on the employee’s length of service. The Company’s contributions to the Plan are maintained in a rabbi trust and, accordingly, the assets and liabilities of the Plan are reflected in the balance sheet of the Company in other assets and other liabilities. Upon termination, death or disability, participating employees are eligible to receive an amount equal to the fair market value of the assets in the employee’s deferred compensation account. For the years ended December 31, 2013, 2012 and 2011, the Company contributed $1,323, $1,260 and $1,223, respectively. | |
On December 8, 2005, the Company’s Board of Directors approved an amendment to the Lamar Deferred Compensation Plan in order to (1) to comply with the requirements of Section 409A of the Internal Revenue Code (“Section 409A”) applicable to deferred compensation and (2) to reflect changes in the administration of the Plan. The Company’s Board of Directors also approved the adoption of a grantor trust pursuant to which amounts may be set aside, but remain subject to claims of the Company’s creditors, for payments of liabilities under the new plan, including amounts contributed under the old plan. The plan was further amended in August 2007 to make certain amendments to reflect Section 409A regulations issued on April 10, 2007. An additional clarifying amendment was made to the plan in December 2013. |
Commitment_and_Contingencies
Commitment and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitment and Contingencies | ' |
(16) Commitment and Contingencies | |
The Company is involved in various other claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity. |
Summarized_Financial_Informati
Summarized Financial Information of Subsidiaries | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Text Block [Abstract] | ' | ' |
Summarized Financial Information of Subsidiaries | ' | ' |
6. Summarized Financial Information of Subsidiaries | (17) Summarized Financial Information of Subsidiaries | |
Separate financial statements of each of the Company’s direct or indirect wholly owned subsidiaries that have guaranteed Lamar Media’s obligations with respect to its publicly issued notes (collectively, the “Guarantors”) are not included herein because the Company has no independent assets or operations, the guarantees are full and unconditional and joint and several and the only subsidiaries that are not guarantors are in the aggregate minor. | Separate financial statements of each of the Company’s direct or indirect wholly owned subsidiaries that have guaranteed Lamar Media’s obligations with respect to its publicly issued notes (collectively, the “Guarantors”) are not included herein because the Company has no independent assets or operations, the guarantees are full and unconditional and joint and several and the only subsidiaries that are not guarantors are in the aggregate minor. | |
Lamar Media’s ability to make distributions to Lamar Advertising is restricted under both the terms of the indentures relating to Lamar Media’s outstanding notes and by the terms of its senior credit facility. As of June 30, 2014 and December 31, 2013, 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 $2,180,374 and $2,072,542, respectively. | 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 the senior credit facility. As of December 31, 2013 and December 31, 2012, Lamar Media was permitted under the terms of its outstanding senior subordinated notes to make transfers to Lamar Advertising in the form of cash dividends, loans or advances in amounts up to $2,072,542 and $1,706,875, respectively. Transfers to Lamar Advertising are subject to additional restrictions if, under the senior credit facility and as defined therein, (x) the total holdings debt ratio is greater than 5.75 to 1 or (y) the senior debt ratio is greater than 3.25 to 1.0. As of December 31, 2013, the total holdings debt ratio was less than 5.75 to 1 and Lamar Media’s senior debt ratio was less than 3.25 to 1; therefore, transfers to Lamar Advertising were not subject to any additional restrictions under the senior credit facility. | |
As of June 30, 2014, transfers to Lamar Advertising are permitted under Lamar Media’s senior credit facility and as defined therein, unless, after giving effect such distributions, (i) the total debt ratio is equal to or greater than 6.0 to 1 or (ii) the senior debt ratio is equal to or greater than 3.5 to 1. As of June 30, 2014, the total debt ratio was less than 6.0 to 1 and Lamar Media’s senior debt ratio was less than 3.50 to 1; therefore, dividends or distributions to Lamar Advertising were not subject to any additional restrictions under the senior credit facility. In addition, as of June 30, 2014 the senior credit facility allows Lamar Media to conduct its affairs in a manner that would allow Lamar Advertising to qualify and remain qualified for taxation as a REIT, including by allowing Lamar Media to make distributions to Lamar Advertising required for Lamar Advertising to qualify and remain qualified for taxation as a REIT, subject to certain restrictions. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Fair Value Disclosures [Abstract] | ' | ' |
Fair Value of Financial Instruments | ' | ' |
9. Fair Value of Financial Instruments | (18) Fair Value of Financial Instruments | |
At June 30, 2014 and December 31, 2013, 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 $1,982,661 which exceeded both the gross and carrying amount of $1,927,867 as of June 30, 2014. 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). | At December 31, 2013 and 2012, 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. Investments 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 $1,948,040, which exceeded both the gross and carrying amount of $1,938,802 as of December 31, 2013. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||
(19) Quarterly Financial Data (Unaudited) | |||||||||||||||||
The tables below represent the “as adjusted” balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2013 and 2012. See Note (1)(c) Adjustment to Previously Reported Amounts for further information. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 276,605 | $ | 327,744 | $ | 321,141 | $ | 320,352 | |||||||||
Net revenues less direct advertising expenses | $ | 170,086 | $ | 217,021 | $ | 211,501 | $ | 210,390 | |||||||||
Net (loss) income applicable to common stock | $ | (10,354 | ) | $ | 23,031 | $ | 17,003 | $ | 10,094 | ||||||||
Net (loss) income per common share basic | $ | (0.11 | ) | $ | 0.24 | $ | 0.18 | $ | 0.11 | ||||||||
Net (loss) income per common share — diluted | $ | (0.11 | ) | $ | 0.24 | $ | 0.18 | $ | 0.11 | ||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 262,465 | $ | 301,106 | $ | 309,526 | $ | 306,639 | |||||||||
Net revenues less direct advertising expenses | $ | 159,042 | $ | 196,035 | $ | 205,681 | $ | 200,440 | |||||||||
Net (loss) income applicable to common stock | $ | (25,209 | ) | $ | 11,534 | $ | 13,381 | $ | 7,819 | ||||||||
Net (loss) income per common share basic | $ | (0.27 | ) | $ | 0.13 | $ | 0.14 | $ | 0.08 | ||||||||
Net (loss) income per common share — diluted | $ | (0.27 | ) | $ | 0.13 | $ | 0.14 | $ | 0.08 | ||||||||
The tables below represent the “as previously reported” balances for the selected quarterly financial data of the Company for the quarters ended March 31, June 30 and September 30, 2013 and all reporting periods in the year ended December 31, 2012. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | |||||||||||||||
Net revenues | $ | 283,479 | $ | 324,684 | $ | 323,184 | |||||||||||
Net revenues less direct advertising expenses | $ | 176,960 | $ | 213,961 | $ | 213,544 | |||||||||||
Net (loss) income applicable to common stock | $ | (6,161 | ) | $ | 21,164 | $ | 18,249 | ||||||||||
Net (loss) income per common share basic | $ | (0.07 | ) | $ | 0.22 | $ | 0.09 | ||||||||||
Net (loss) income per common share — diluted | $ | (0.07 | ) | $ | 0.22 | $ | 0.09 | ||||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 266,238 | $ | 304,872 | $ | 306,286 | $ | 305,505 | |||||||||
Net revenues less direct advertising expenses | $ | 162,815 | $ | 199,801 | $ | 202,441 | $ | 199,306 | |||||||||
Net (loss) income applicable to common stock | $ | (22,907 | ) | $ | 13,831 | $ | 11,405 | $ | 7,127 | ||||||||
Net (loss) income per common share basic | $ | (0.25 | ) | $ | 0.15 | $ | 0.12 | $ | 0.08 | ||||||||
Net (loss) income per common share — diluted | $ | (0.25 | ) | $ | 0.15 | $ | 0.12 | $ | 0.08 | ||||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||
(8) Quarterly Financial Data (Unaudited) | |||||||||||||||||
The tables below represent the “as adjusted” balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2013 and 2012. See Note (1)(c) Adjustment to Previously Reported Amounts for further information. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 276,605 | $ | 327,744 | $ | 321,141 | $ | 320,352 | |||||||||
Net revenues less direct advertising expenses | $ | 170,086 | $ | 217,021 | $ | 211,501 | $ | 210,390 | |||||||||
Net (loss) income | $ | (10,212 | ) | $ | 23,178 | $ | 17,144 | $ | 10,228 | ||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 262,465 | $ | 301,106 | $ | 309,526 | $ | 306,639 | |||||||||
Net revenues less direct advertising expenses | $ | 159,042 | $ | 196,035 | $ | 205,681 | $ | 200,440 | |||||||||
Net (loss) income | $ | (25,127 | ) | $ | 11,695 | $ | 13,561 | $ | 7,986 | ||||||||
The tables below represent the “as previously reported” balances for the selected quarterly financial data of the Company for the quarters ended March 31, June 30 and September 30, 2013 and all reporting periods in the year ended December 31, 2012. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | |||||||||||||||
Net revenues | $ | 283,479 | $ | 324,684 | $ | 323,184 | |||||||||||
Net revenues less direct advertising expenses | $ | 176,960 | $ | 213,961 | $ | 213,544 | |||||||||||
Net (loss) income | $ | (6,019 | ) | $ | 21,311 | $ | 18,390 | ||||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 266,238 | $ | 304,872 | $ | 306,286 | $ | 305,505 | |||||||||
Net revenues less direct advertising expenses | $ | 162,815 | $ | 199,801 | $ | 202,441 | $ | 199,306 | |||||||||
Net (loss) income | $ | (22,825 | ) | $ | 13,992 | $ | 11,585 | $ | 7,294 |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
(20) Subsequent Events | |
On January 10, 2014, the Company completed an institutional private placement of $510,000 aggregate principal amount of 5 3/8% Senior Notes due 2024 of Lamar Media. The institutional private placement resulted in net proceeds to Lamar Media of approximately $502,300. Lamar Media used the proceeds of this offering to repay in full all amounts then outstanding under its senior credit facility. | |
On February 3, 2014, Lamar Media entered into a second restatement agreement with the Company, certain of Lamar Media’s subsidiaries as guarantors and the lenders named therein under which the parties agreed to amend and restate the existing senior credit facility for which JPMorgan Chase Bank, N.A. serves as administrative agent; the second amended and restated senior credit agreement was entered into on April 28, 2010, amended and restated on February 9, 2012 and amended and restated on February 3, 2014 (as amended and restated, the “senior credit facility”). Among other things, the amendments increased the revolving credit facility from $250,000 to $400,000 and extended its maturity date to February 2, 2019. The incremental facility was also increased from $300,000 to $500,000. In addition, the senior credit facility was amended to include provisions that would allow Lamar Media to conduct its affairs in a manner that would allow Lamar Advertising to qualify and remain qualified as a REIT, subject to certain restrictions. It also eliminated a requirement that Lamar Media make mandatory prepayments on loans in certain circumstances based on excess cash flow. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | ||||||||||||||||
SCHEDULE 2 | |||||||||||||||||
Lamar Advertising Company | |||||||||||||||||
And Subsidiaries | |||||||||||||||||
Valuation and Qualifying Accounts | |||||||||||||||||
Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at | Charged to | Deductions | Balance at | ||||||||||||||
Beginning | Costs and | End of | |||||||||||||||
of Period | Expenses | Period | |||||||||||||||
Year ended December 31, 2013 | |||||||||||||||||
Deducted in balance sheet from trade accounts receivable: | |||||||||||||||||
Allowance for doubtful accounts | $ | 7,615 | 6,034 | 6,034 | $ | 7,615 | |||||||||||
Deducted in balance sheet from intangible assets: | |||||||||||||||||
Amortization of intangible assets | $ | 1,794,415 | 106,533 | 922 | $ | 1,900,026 | |||||||||||
Year ended December 31, 2012 | |||||||||||||||||
Deducted in balance sheet from trade accounts receivable: | |||||||||||||||||
Allowance for doubtful accounts | $ | 7,500 | 5,484 | 5,369 | $ | 7,615 | |||||||||||
Deducted in balance sheet from intangible assets: | |||||||||||||||||
Amortization of intangible assets | $ | 1,705,402 | 102,941 | 13,928 | $ | 1,794,415 | |||||||||||
Year ended December 31, 2011 | |||||||||||||||||
Deducted in balance sheet from trade accounts receivable: | |||||||||||||||||
Allowance for doubtful accounts | $ | 8,100 | 7,591 | 8,191 | $ | 7,500 | |||||||||||
Deducted in balance sheet from intangible assets: | |||||||||||||||||
Amortization of intangible assets | $ | 1,602,723 | 102,679 | — | $ | 1,705,402 | |||||||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | ||||||||||||||||
SCHEDULE 2 | |||||||||||||||||
Lamar Media Corp. | |||||||||||||||||
and Subsidiaries | |||||||||||||||||
Valuation and Qualifying Accounts | |||||||||||||||||
Years Ended December 31, 2013, 2012 and 2011 | |||||||||||||||||
(In thousands) | |||||||||||||||||
Balance at | Charged to | Deductions | Balance | ||||||||||||||
Beginning of | Costs and | at end | |||||||||||||||
Period | Expenses | of Period | |||||||||||||||
Year Ended December 31, 2013 | |||||||||||||||||
Deducted in balance sheet from trade accounts receivable: | |||||||||||||||||
Allowance for doubtful accounts | $ | 7,615 | 6,034 | 6,034 | $ | 7,615 | |||||||||||
Deducted in balance sheet from intangible assets: | |||||||||||||||||
Amortization of intangible assets | $ | 1,793,476 | 106,533 | 929 | $ | 1,899,080 | |||||||||||
Year Ended December 31, 2012 | |||||||||||||||||
Deducted in balance sheet from trade accounts receivable: | |||||||||||||||||
Allowance for doubtful accounts | $ | 7,500 | 5,484 | 5,369 | $ | 7,615 | |||||||||||
Deducted in balance sheet from intangible assets: | |||||||||||||||||
Amortization of intangible assets | $ | 1,704,492 | 102,941 | 13,957 | $ | 1,793,476 | |||||||||||
Year Ended December 31, 2011 | |||||||||||||||||
Deducted in balance sheet from trade accounts receivable: | |||||||||||||||||
Allowance for doubtful accounts | $ | 8,100 | 7,591 | 8,191 | $ | 7,500 | |||||||||||
Deducted in balance sheet from intangible assets: | |||||||||||||||||
Amortization of intangible assets | $ | 1,601,843 | 102,649 | — | $ | 1,704,492 |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ' |
Earnings Per Share | ' |
7. 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, 2014 or 2013. |
Adjustments_to_Previously_Repo
Adjustments to Previously Reported Amounts | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Adjustments to Previously Reported Amounts | ' |
10. Adjustments to Previously Reported Amounts | |
Immaterial Correction of an Error. Commencing with the fourth quarter of 2013, the Company revised previously reported amounts due to a change from recognizing revenue on a monthly basis over the term of the advertising contract to recognizing revenue on a daily basis over the term of the advertising contract. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, management evaluated the materiality of the error from qualitative and quantitative perspectives, and concluded the error was immaterial to the current and prior periods. The correction of the immaterial error resulted in an increase (decrease) of net revenue and net income of $3,060 and $1,867 and $(3,814) and $(2,326) for the three and six months ended June 30, 2013, respectively. The correction also resulted in an increase (decrease) of $0.02 and ($0.03) in earnings per basic and dilutive share for the three months and six months ended June 30, 2013, respectively. | |
The Company revised its historical financial statements as published in our 2013 Combined 10-K for fiscal 2011 and 2012, and the three and six months ended June 30, 2013 contained therein. The Company will revise the quarter ended September 30, 2013, when it’s published in a future filing. |
New_Accounting_Pronouncements
New Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Changes And Error Corrections [Abstract] | ' |
New Accounting Pronouncements | ' |
11. New Accounting Pronouncements | |
On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Distributions
Distributions | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
Distributions | ' |
12. Distributions | |
During the period ended June 30, 2014 the Company paid a cash distribution to holders of its common stock of $79,013, or $0.83 per share, in anticipation of commencing to operate as a REIT effective January 1, 2014. As a REIT the Company must distribute to its stockholders by the end of 2014 all if its pre-REIT accumulated earnings and profits, if any. In addition, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). 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) and other factors that the Board of Directors may deem relevant. During the period ended June 30, 2014, the Company paid a cash dividend distribution to holders of its Series AA Preferred Stock of $182 or $31.90 per share. |
Information_about_Geographic_A
Information about Geographic Areas | 6 Months Ended |
Jun. 30, 2014 | |
Segment Reporting [Abstract] | ' |
Information about Geographic Areas | ' |
13. Information about Geographic Areas | |
Revenues from external customers attributable to foreign countries totaled $16,106 and $15,988 for the six months ended June 30, 2014 and 2013, respectively. Net carrying value of long lived assets located in foreign countries totaled $8,027 and $8,838 for the periods ended June 30, 2014 and December 31, 2013, respectively. All other revenues from external customers and long lived assets relate to domestic operations. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Nature of Business | ' | ||||||||||||
(a) Nature of Business | |||||||||||||
Lamar Advertising Company (the Company) is engaged in the outdoor advertising business, operating over 145,000 billboard advertising displays in 44 states, Canada and Puerto Rico. The Company’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. | |||||||||||||
In addition, the Company operates a logo sign business in 22 states throughout the United States and the province of Ontario, Canada and operates over 38,000 transit advertising displays in 16 states, Canada and Puerto Rico. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising on bus shelters, benches and buses in the markets it serves. | |||||||||||||
Principles of Consolidation | ' | ||||||||||||
(b) Principles of Consolidation | |||||||||||||
The accompanying consolidated financial statements include Lamar Advertising Company, its wholly owned subsidiary, Lamar Media Corp. (Lamar Media), and its majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. | |||||||||||||
An operating segment is a component of an enterprise: | |||||||||||||
• | that engages in business activities from which it may earn revenues and incur expenses; | ||||||||||||
• | whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and | ||||||||||||
• | for which discrete financial information is available. | ||||||||||||
We define the term ‘chief operating decision maker’ to be our executive management group, which consist of our Chief Executive Officer, President and Chief Financial Officer. Currently, all operations are reviewed on a consolidated basis for budget and business plan performance by our executive management group. Additionally, operational performance at the end of each reporting period is viewed in the aggregate by our management group. Any decisions related to changes in invested capital, personnel, operational improvement or training, or to allocate other company resources are made based on the combined results. | |||||||||||||
We operate in a single operating and reporting segment, advertising. We sell advertising on billboards, buses, shelters and benches and logo plates. | |||||||||||||
Adjustment to Previously Reported Amounts | ' | ||||||||||||
(c) Adjustment to Previously Reported Amounts | |||||||||||||
Immaterial Correction of an Error. During the fourth quarter of 2013, the Company revised previously reported amounts due to a change from recognizing revenue on a monthly basis over the term of the advertising contract to recognizing revenue on a daily basis over the term of the advertising contract. In accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, and SAB No. 108, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements, management evaluated the materiality of the error from qualitative and quantitative perspectives, and concluded the error was immaterial to the current and prior periods. The correction of the immaterial error resulted in an increase to deferred income liability of $21,651 and $18,486 at December 31, 2012 and 2011, respectively, an increase of accumulated deficit of $13,208 and $11,277 and a reduction in net revenue and net income of $3,165 and $2,773 and $1,931 and $1,692, for the years ended December 31, 2012 and 2011, respectively. The correction also resulted in a decrease of $0.02 in earnings per basic and dilutive share for the years ended December 31, 2012 and 2011. | |||||||||||||
Consequently, the Company revised its historical financial statements for fiscal 2012, fiscal 2011 herein, and will revise the quarters within fiscal 2013, when they are published in future filings. The Company recognized the cumulative effect of the error on periods prior to those that are presented herein by increasing deferred income liability and accumulated deficit by $15,713 and $9,585, respectively, as of December 31, 2010. | |||||||||||||
Property, Plant and Equipment | ' | ||||||||||||
(d) Property, Plant and Equipment | |||||||||||||
Property, plant and equipment are stated at cost. Depreciation is calculated using accelerated and straight-line methods over the estimated useful lives of the assets. | |||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||
(e) Goodwill and Intangible Assets | |||||||||||||
Goodwill is subject to an annual impairment test. The Company designated December 31 as the date of its annual goodwill impairment test. Impairment testing involves various estimates and assumptions, which could vary, and an analysis of relevant market data and market capitalization. If industry and economic conditions deteriorate, the Company may be required to assess goodwill impairment before the next annual test, which could result in impairment charges. | |||||||||||||
The Company is required to identify its reporting units and determine the carrying value of each reporting unit by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units. The Company is required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, the Company would be required to perform the second step of the impairment test, as this is an indication that the reporting unit goodwill may be impaired. The fair value of each reporting unit exceeded its carrying amount at its annual impairment test date on December 31, 2013 and 2012; therefore, the Company was not required to recognize an impairment loss. | |||||||||||||
Intangible assets, consisting primarily of site locations, customer lists and contracts, and non-competition agreements are amortized using the straight-line method over the assets estimated useful lives, generally from 3 to 15 years. | |||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||
(f) Impairment of Long-Lived Assets | |||||||||||||
Long-lived assets, such as property, plant and equipment, and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset or asset group before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet. | |||||||||||||
Deferred Income | ' | ||||||||||||
(g) Deferred Income | |||||||||||||
Deferred income consists principally of advertising revenue invoiced in advance and gains resulting from the sale of certain assets to related parties. Deferred advertising revenue is recognized in income as services are provided over the term of the contract. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
(h) Revenue Recognition | |||||||||||||
The Company recognizes outdoor advertising revenue on an accrual basis ratably over the term of the contracts, as services are provided. Production revenue and the related expense for the advertising copy are recognized upon completion of the sale. | |||||||||||||
The Company engages in barter transactions where the Company trades advertising space for goods and services. The Company recognizes revenues and expenses from barter transactions at fair value, which is determined based on the Company’s own historical practice of receiving cash for similar advertising space from buyers unrelated to the party in the barter transaction. The amount of revenue and expense recognized for advertising barter transactions is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net revenues | $ | 7,862 | $ | 6,798 | $ | 7,153 | |||||||
Direct advertising expenses | $ | 3,005 | $ | 2,900 | $ | 2,766 | |||||||
General and administrative expenses | $ | 4,417 | $ | 3,699 | $ | 3,524 | |||||||
Income Taxes | ' | ||||||||||||
(i) Income Taxes | |||||||||||||
The Company uses the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. | |||||||||||||
Earnings Per Share | ' | ||||||||||||
(j) Earnings Per Share | |||||||||||||
The calculation of basic earnings per share excludes any dilutive effect of stock options and convertible debt, while diluted earnings per share includes the dilutive effect of stock options and convertible debt. For the years ended December 31, 2013, December 31, 2012 and December 31, 2011, there were no dilutive shares excluded from the calculation. | |||||||||||||
Stock Based Compensation | ' | ||||||||||||
(k) Stock Based Compensation | |||||||||||||
Compensation expense for share-based awards is recognized based on the grant date fair value of those awards. Stock-based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis, which is generally commensurate with the vesting term. Stock-based compensation expense recognized during the years ended December 31, 2013, 2012, and 2011 were $24,936, $14,466 and $11,650. The $24,936 expensed during the year ended December 31, 2013 consists of (i) $17,340 related to stock options, (ii) $7,231 related to stock grants, made under the Company’s performance-based stock incentive program in 2013 (iii) $365 related to stock awards to directors. See Note 14 for information on the assumptions we used to calculate the fair value of stock-based compensation. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
(l) Cash and Cash Equivalents | |||||||||||||
The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. | |||||||||||||
Foreign Currency Translation | ' | ||||||||||||
(m) Foreign Currency Translation | |||||||||||||
Local currencies generally are considered the functional currencies outside the United States. Assets and liabilities for operations in local-currency environments are translated at year-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are recorded as a component of other comprehensive income in the Consolidated Statement of Operations and Comprehensive Income and as a component of accumulated other comprehensive income in Consolidated Statement of Stockholders’ Equity. | |||||||||||||
Asset Retirement Obligations | ' | ||||||||||||
(n) Asset Retirement Obligations | |||||||||||||
The Company is required to record the present value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset’s carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company’s asset retirement obligations relate primarily to the dismantlement, removal, site reclamation and similar activities of its properties. | |||||||||||||
Use of Estimates | ' | ||||||||||||
(o) Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
Comprehensive Income | ' | ||||||||||||
(p) Comprehensive Income | |||||||||||||
Total comprehensive income is presented in the Consolidated Statements of Operations and Comprehensive Income and the components of accumulated other comprehensive income are presented in the Consolidated Statements of Stockholders’ Equity. Comprehensive Income is composed of foreign currency translation effects. | |||||||||||||
Subsequent Events | ' | ||||||||||||
(q) Subsequent Events | |||||||||||||
The Company has performed an evaluation of subsequent events through the date on which the financial statements are issued. | |||||||||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||||||
Nature of Business | ' | ||||||||||||
(a) Nature of Business | |||||||||||||
Lamar Media Corp. is a wholly owned subsidiary of Lamar Advertising Company. Lamar Media Corp. is engaged in the outdoor advertising business operating approximately 145,000 outdoor advertising displays in 44 states. Lamar Media’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. | |||||||||||||
In addition, Lamar Media operates a logo sign business in 22 states throughout the United States as well as the province of Ontario, Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising on bus shelters, benches and buses in the markets it serves. | |||||||||||||
Certain footnotes are not provided for the accompanying financial statements as the information in notes 2, 4, 6, 9, 10, 13, 14, 15, 16, 17 and 18 and portions of notes 1 and 12 to the consolidated financial statements of Lamar Advertising Company included elsewhere in this filing are substantially equivalent to that required for the consolidated financial statements of Lamar Media Corp. Earnings per share data is not provided for the operating results of Lamar Media Corp. as it is a wholly owned subsidiary of Lamar Advertising Company. | |||||||||||||
Principles of Consolidation | ' | ||||||||||||
(b) Principles of Consolidation | |||||||||||||
The accompanying consolidated financial statements include Lamar Media Corp., its wholly owned subsidiaries, The Lamar Company, LLC, Lamar Central Outdoor, Inc., Lamar Oklahoma Holding Co., Inc., Lamar Advertising Southwest, Inc., Lamar DOA Tennessee Holdings, Inc., and Interstate Logos, LLC. and their majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Revenue and Expense Recognized for Advertising Barter Transactions | ' | ||||||||||||
The amount of revenue and expense recognized for advertising barter transactions is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net revenues | $ | 7,862 | $ | 6,798 | $ | 7,153 | |||||||
Direct advertising expenses | $ | 3,005 | $ | 2,900 | $ | 2,766 | |||||||
General and administrative expenses | $ | 4,417 | $ | 3,699 | $ | 3,524 |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Summary of Allocation of Acquisition Costs | ' | ||||||||
The following is a summary of the allocation of the acquisition costs in the above transactions. | |||||||||
Total | |||||||||
Property, plant and equipment | $ | 18,196 | |||||||
Goodwill | 18,631 | ||||||||
Site locations | 50,333 | ||||||||
Non-competition agreements | 430 | ||||||||
Customer lists and contracts | 10,390 | ||||||||
Other assets | 1,408 | ||||||||
Current liabilities | (2,158 | ) | |||||||
$ | 97,230 | ||||||||
The following is a summary of the preliminary allocation of the acquisition costs in the above transactions. | |||||||||
Total | |||||||||
Property, plant and equipment | $ | 74,326 | |||||||
Goodwill | 60,968 | ||||||||
Site locations | 78,288 | ||||||||
Non-competition agreements | 80 | ||||||||
Customer lists and contracts | 18,148 | ||||||||
Other asset | 7,763 | ||||||||
Current liabilities | (3,424 | ) | |||||||
Long-term liabilities | (6,140 | ) | |||||||
$ | 230,009 | ||||||||
Summary of Unaudited Pro Forma Financial Information | ' | ||||||||
The following unaudited pro forma financial information for the Company gives effect to the 2013 and 2012 acquisitions as if they had occurred on January 1, 2012. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period. | |||||||||
2013 | 2012 | ||||||||
Net revenues | $ | 1,255,376 | $ | 1,225,958 | |||||
Net income applicable to common stock | $ | 40,725 | $ | 12,098 | |||||
Net loss per common share — basic | $ | 0.43 | $ | 0.13 | |||||
Net loss per common share — diluted | $ | 0.43 | $ | 0.13 | |||||
The following unaudited pro forma financial information for the Company gives effect to the 2012 and 2011 acquisitions as if they had occurred on January 1, 2011. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company’s results of operations for any future period. | |||||||||
2012 | 2011 | ||||||||
Net revenues | $ | 1,209,540 | $ | 1,174,520 | |||||
Net income applicable to common stock | $ | 8,161 | $ | 6,626 | |||||
Net loss per common share — basic | $ | 0.09 | $ | 0.07 | |||||
Net loss per common share — diluted | $ | 0.09 | $ | 0.07 |
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||
Summary of Major Categories of Property, Plant and Equipment | ' | ||||||||||
Major categories of property, plant and equipment at December 31, 2013 and 2012 are as follows: | |||||||||||
Estimated Life | 2013 | 2012 | |||||||||
(Years) | |||||||||||
Land | — | $ | 312,883 | $ | 317,223 | ||||||
Building and improvements | 10 — 39 | 125,724 | 115,646 | ||||||||
Advertising structures | 5 — 15 | 2,459,313 | 2,378,940 | ||||||||
Automotive and other equipment | 3 — 7 | 138,424 | 128,640 | ||||||||
$ | 3,036,344 | $ | 2,940,449 | ||||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
Summary of Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||||||||||
The following is a summary of intangible assets at June 30, 2014 and December 31, 2013: | The following is a summary of intangible assets at December 31, 2013 and December 31, 2012: | |||||||||||||||||||||||||||||||||||||||||
Estimated | June 30, 2014 | December 31, 2013 | Estimated | 2013 | 2012 | |||||||||||||||||||||||||||||||||||||
Life | Gross Carrying | Accumulated | Gross Carrying | Accumulated | Life | |||||||||||||||||||||||||||||||||||||
(Years) | Amount | Amortization | Amount | Amortization | (Years) | Gross Carrying | Accumulated | Gross Carrying | Accumulated | |||||||||||||||||||||||||||||||||
Customer lists and contracts | 7—10 | $ | 494,615 | $ | 466,705 | $ | 492,299 | $ | 463,188 | Amount | Amortization | Amount | Amortization | |||||||||||||||||||||||||||||
Non-competition agreements | 3—15 | 63,943 | 63,061 | 63,933 | 62,914 | Amortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||
Site locations | 15 | 1,499,474 | 1,156,903 | 1,495,635 | 1,106,947 | Customer lists and contracts | 7 — 10 | $ | 492,299 | $ | 463,188 | $ | 482,883 | $ | 455,549 | |||||||||||||||||||||||||||
Other | 5—15 | 14,008 | 13,463 | 14,008 | 13,441 | Non-competition agreements | 3 — 15 | 63,933 | 62,914 | 63,519 | 62,566 | |||||||||||||||||||||||||||||||
Site locations | 15 | 1,495,635 | 1,106,947 | 1,449,181 | 1,009,631 | |||||||||||||||||||||||||||||||||||||
$ | 2,072,040 | $ | 1,700,132 | $ | 2,065,875 | $ | 1,646,490 | Other | 5 — 15 | 14,008 | 13,441 | 13,608 | 13,133 | |||||||||||||||||||||||||||||
Unamortizable intangible assets: | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $ | 1,757,200 | $ | 253,536 | $ | 1,757,089 | $ | 253,536 | $ | 2,065,875 | $ | 1,646,490 | $ | 2,009,191 | $ | 1,540,879 | ||||||||||||||||||||||||||
Unamortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $ | 1,757,089 | $ | 253,536 | $ | 1,738,686 | $ | 253,536 | ||||||||||||||||||||||||||||||||||
Summary of Changes in Gross Carrying Amount of Goodwill | ' | ' | ||||||||||||||||||||||||||||||||||||||||
The changes in the gross carrying amount of goodwill for the year ended December 31, 2013 are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 1,738,686 | ||||||||||||||||||||||||||||||||||||||||
Goodwill acquired during the year | 18,631 | |||||||||||||||||||||||||||||||||||||||||
Purchase price adjustments and other | (228 | ) | ||||||||||||||||||||||||||||||||||||||||
Impairment losses | — | |||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 1,757,089 | ||||||||||||||||||||||||||||||||||||||||
Summary of Estimated Amortization Expense | ' | ' | ||||||||||||||||||||||||||||||||||||||||
The following is a summary of the estimated amortization expense for future years: | ||||||||||||||||||||||||||||||||||||||||||
2014 | $ | 94,763 | ||||||||||||||||||||||||||||||||||||||||
2015 | 58,713 | |||||||||||||||||||||||||||||||||||||||||
2016 | 48,503 | |||||||||||||||||||||||||||||||||||||||||
2017 | 43,255 | |||||||||||||||||||||||||||||||||||||||||
2018 | 38,542 | |||||||||||||||||||||||||||||||||||||||||
Thereafter | 135,609 | |||||||||||||||||||||||||||||||||||||||||
Total | $ | 419,385 | ||||||||||||||||||||||||||||||||||||||||
LAMAR MEDIA CORP [Member] | ' | ' | ||||||||||||||||||||||||||||||||||||||||
Summary of Intangible Assets | ' | ' | ||||||||||||||||||||||||||||||||||||||||
The following is a summary of intangible assets at December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||||||||||||||
Estimated | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||
Life | ||||||||||||||||||||||||||||||||||||||||||
(Years) | Gross Carrying | Accumulated | Gross Carrying | Accumulated | ||||||||||||||||||||||||||||||||||||||
Amount | Amortization | Amount | Amortization | |||||||||||||||||||||||||||||||||||||||
Amortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||||||||
Customer lists and contracts | 7—10 | $ | 492,299 | $ | 463,188 | $ | 482,883 | $ | 455,549 | |||||||||||||||||||||||||||||||||
Non-competition agreement | 3—15 | 63,933 | 62,914 | 63,519 | 62,566 | |||||||||||||||||||||||||||||||||||||
Site locations | 15 | 1,495,635 | 1,106,945 | 1,449,181 | 1,009,631 | |||||||||||||||||||||||||||||||||||||
Other | 5—15 | 13,463 | 13,364 | 13,063 | 13,063 | |||||||||||||||||||||||||||||||||||||
$ | 2,065,330 | $ | 1,646,411 | $ | 2,008,646 | $ | 1,540,809 | |||||||||||||||||||||||||||||||||||
Unamortizable Intangible Assets: | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $ | 1,746,068 | $ | 252,667 | $ | 1,727,665 | $ | 252,667 | ||||||||||||||||||||||||||||||||||
Summary of Changes in Gross Carrying Amount of Goodwill | ' | ' | ||||||||||||||||||||||||||||||||||||||||
The changes in the gross carrying amount of goodwill for the year ended December 31, 2013 are as follows: | ||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2012 | $ | 1,727,665 | ||||||||||||||||||||||||||||||||||||||||
Goodwill acquired during the year | 18,631 | |||||||||||||||||||||||||||||||||||||||||
Purchase price adjustments and other | (228 | ) | ||||||||||||||||||||||||||||||||||||||||
Impairment losses | — | |||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2013 | $ | 1,746,068 | ||||||||||||||||||||||||||||||||||||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Leases [Abstract] | ' | ||||
Summary of Minimum Annual Rental Payments | ' | ||||
contain escalation provisions. The following is a summary of minimum annual rental payments required under those operating leases that have original or remaining lease terms in excess of one year as of December 31, 2013: | |||||
2014 | $ | 155,374 | |||
2015 | $ | 125,503 | |||
2016 | $ | 109,737 | |||
2017 | $ | 94,932 | |||
2018 | $ | 80,956 | |||
Thereafter | $ | 595,410 |
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Summary of Accrued Expenses | ' | ||||||||
The following is a summary of accrued expenses at December 31, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Payroll | $ | 11,311 | $ | 12,854 | |||||
Interest | 23,451 | 31,888 | |||||||
Insurance benefits | 13,090 | 12,537 | |||||||
Accrued lease expense | 37,346 | 32,100 | |||||||
Other | 13,726 | 10,082 | |||||||
$ | 98,924 | $ | 99,461 | ||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||
Summary of Accrued Expenses | ' | ||||||||
The following is a summary of accrued expenses at December 31, 2013 and 2012: | |||||||||
2013 | 2012 | ||||||||
Payroll | $ | 11,311 | $ | 12,854 | |||||
Interest | 23,451 | 31,888 | |||||||
Other | 60,870 | 52,118 | |||||||
$ | 95,632 | $ | 96,860 | ||||||
Longterm_Debt_Tables
Long-term Debt (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||
Long-Term Debt | ' | ' | ||||||||||||||||||||||||
Long-term debt consists of the following at June 30, 2014 and December 31, 2013: | Long-term debt consists of the following at December 31, 2013 and 2012: | |||||||||||||||||||||||||
June 30, | December 31, | 2013 | 2012 | |||||||||||||||||||||||
2014 | 2013 | Senior Credit Agreement | $ | 502,106 | $ | 384,664 | ||||||||||||||||||||
Senior Credit Facility | $ | 381,250 | $ | 502,106 | 7 7/8% Senior Subordinated Notes | 400,000 | 400,000 | |||||||||||||||||||
7 7/8% Senior Subordinated Notes | — | 400,000 | 5 7/8% Senior Subordinated Notes | 500,000 | 500,000 | |||||||||||||||||||||
5 7/8% Senior Subordinated Notes | 500,000 | 500,000 | 5% Senior Subordinated Notes | 535,000 | 535,000 | |||||||||||||||||||||
5% Senior Subordinated Notes | 535,000 | 535,000 | 9 3/4% Senior Notes | — | 339,121 | |||||||||||||||||||||
5 3/8% Senior Notes | 510,000 | — | Other notes with various rates and terms | 1,696 | 2,069 | |||||||||||||||||||||
Other notes with various rates and terms | 1,617 | 1,696 | ||||||||||||||||||||||||
1,938,802 | 2,160,854 | |||||||||||||||||||||||||
1,927,867 | 1,938,802 | Less current maturities | (55,935 | ) | (33,134 | ) | ||||||||||||||||||||
Less current maturities | (15,636 | ) | (55,935 | ) | ||||||||||||||||||||||
Long-term debt excluding current maturities | $ | 1,882,867 | $ | 2,127,720 | ||||||||||||||||||||||
Long-term debt, excluding current maturities | $ | 1,912,231 | $ | 1,882,867 | ||||||||||||||||||||||
Schedule of Maturities of Long Term Debt | ' | ' | ||||||||||||||||||||||||
The Term A Loans began amortizing on June 30, 2014 in quarterly installments on each September 30, December 31, March 31, and June 30 thereafter, as follows: | Long-term debt matures as follows: | |||||||||||||||||||||||||
Principal Payment Date | Principal Amount | 2014 | $ | 55,935 | ||||||||||||||||||||||
September 30, 2014-March 31, 2016 | $ | 3,750 | 2015 | $ | 335,698 | |||||||||||||||||||||
June 30, 2016- March 31, 2017 | $ | 5,625 | 2016 | $ | 27,142 | |||||||||||||||||||||
June 30, 2017-December 31, 2018 | $ | 11,250 | 2017 | $ | 85,000 | |||||||||||||||||||||
Term A Loan Maturity Date | $ | 168,750 | 2018 | $ | 400,000 | |||||||||||||||||||||
Later years | $ | 1,035,027 | ||||||||||||||||||||||||
Remaining Quarterly Amortizations of Term Loan Facilities | ' | ' | ||||||||||||||||||||||||
The remaining quarterly amortizations of the Term facilities as of December 31, 2013 is as follows: | ||||||||||||||||||||||||||
Term A-1 | Term A-2 | Term A-3 | Term B | |||||||||||||||||||||||
March 31, 2014 | $ | 6,750 | $ | 750 | $ | 625 | $ | 57.5 | ||||||||||||||||||
June 30, 2014 — December 31, 2014 | $ | 13,500 | $ | 1,500 | $ | 625 | $ | 57.4 | ||||||||||||||||||
March 31, 2015 | $ | 13,500 | $ | 1,500 | $ | 1,250 | $ | 57.5 | ||||||||||||||||||
June 30, 2015 — September 30, 2015 | $ | 37,125 | $ | 4,125 | $ | 1,250 | $ | 57.4 | ||||||||||||||||||
December 31, 2015 | $ | 74,250 | $ | 8,250 | $ | 1,250 | $ | 57.4 | ||||||||||||||||||
March 31, 2016 — September 30, 2016 | $ | — | $ | — | $ | 1,250 | $ | 57.4 | ||||||||||||||||||
December 31, 2016 | $ | — | $ | — | $ | 1,250 | $ | 21,474.70 | ||||||||||||||||||
March 31, 2017— June 30, 2017 | $ | — | $ | — | $ | 21,250 | $ | — | ||||||||||||||||||
August 9, 2017 | $ | — | $ | — | $ | 42,500 | $ | — | ||||||||||||||||||
LAMAR MEDIA CORP [Member] | ' | ' | ||||||||||||||||||||||||
Long-Term Debt | ' | ' | ||||||||||||||||||||||||
Long-term debt consists of the following at December 31, 2013 and 2012: | ||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Senior Credit Agreement | $ | 502,106 | $ | 384,664 | ||||||||||||||||||||||
7 7/8% Senior Subordinated Notes | 400,000 | 400,000 | ||||||||||||||||||||||||
5 7/8% Senior Subordinated Notes | 500,000 | 500,000 | ||||||||||||||||||||||||
5% Senior Subordinated Notes | 535,000 | 535,000 | ||||||||||||||||||||||||
9 3/4% Senior Notes | — | 339,121 | ||||||||||||||||||||||||
Other notes with various rates and terms | 1,696 | 2,069 | ||||||||||||||||||||||||
1,938,802 | 2,160,854 | |||||||||||||||||||||||||
Less current maturities | (55,935 | ) | (33,134 | ) | ||||||||||||||||||||||
Long-term debt excluding current maturities | $ | 1,882,867 | $ | 2,127,720 | ||||||||||||||||||||||
Schedule of Maturities of Long Term Debt | ' | ' | ||||||||||||||||||||||||
Long-term debt matures as follows: | ||||||||||||||||||||||||||
2014 | $ | 55,935 | ||||||||||||||||||||||||
2015 | $ | 335,698 | ||||||||||||||||||||||||
2016 | $ | 27,142 | ||||||||||||||||||||||||
2017 | $ | 85,000 | ||||||||||||||||||||||||
2018 | $ | 400,000 | ||||||||||||||||||||||||
Later years | $ | 1,035,027 |
Asset_Retirement_Obligation_Ta
Asset Retirement Obligation (Tables) | 6 Months Ended | 12 Months Ended | ||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||
Asset Retirement Obligation Disclosure [Abstract] | ' | ' | ||||||||
Information Related to Asset Retirement Obligation | ' | ' | ||||||||
The following table reflects information related to our asset retirement obligations: | The following table reflects information related to our asset retirement obligations: | |||||||||
Balance at December 31, 2013 | $ | 200,831 | Balance at December 31, 2011 | $ | 180,662 | |||||
Additions to asset retirement obligations | 636 | Additions to asset retirement obligations | 5,434 | |||||||
Accretion expense | 2,647 | Accretion expense | 10,871 | |||||||
Liabilities settled | (1,341 | ) | Liabilities settled | (7,308 | ) | |||||
Balance at June 30, 2014 | $ | 202,773 | Balance at December 31, 2012 | 189,659 | ||||||
Additions to asset retirement obligations | 3,741 | |||||||||
Accretion expense | 11,046 | |||||||||
Liabilities settled | (3,615 | ) | ||||||||
Balance at December 31, 2013 | $ | 200,831 | ||||||||
Depreciation_and_Amortization_
Depreciation and Amortization (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||
Text Block [Abstract] | ' | ' | ||||||||||||||||||||||||||||
Depreciation and Amortization Expense Excluded from Operating Expenses | ' | ' | ||||||||||||||||||||||||||||
The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statements of Operations and Comprehensive Income are: | The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statements of Operations are: | |||||||||||||||||||||||||||||
Three months ended | Six months ended | Year Ended December 31, | ||||||||||||||||||||||||||||
June 30, | June 30, | 2013 | 2012 | 2011 | ||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | Direct expenses | $ | 283,280 | $ | 277,662 | $ | 283,720 | ||||||||||||||||||||
Direct advertising expenses | $ | 66,946 | $ | 69,999 | $ | 132,538 | $ | 138,225 | General and administrative expenses | 4,684 | 4,137 | 4,224 | ||||||||||||||||||
General and administrative expenses | 1,080 | 894 | 2,101 | 1,770 | Corporate expenses | 12,615 | 14,284 | 11,695 | ||||||||||||||||||||||
Corporate expenses | 3,023 | 1,515 | 5,936 | 6,314 | ||||||||||||||||||||||||||
$ | 300,579 | $ | 296,083 | $ | 299,639 | |||||||||||||||||||||||||
$ | 71,049 | $ | 72,408 | $ | 140,575 | $ | 146,309 | |||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Expense (Benefit) | ' | ||||||||||||
Income tax expense (benefit) consists of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended December 31, 2013: | |||||||||||||
U.S. federal | $ | 930 | $ | 21,681 | $ | 22,611 | |||||||
State and local | 1,609 | 1,165 | 2,774 | ||||||||||
Foreign | 1,553 | (4,097 | ) | (2,544 | ) | ||||||||
$ | 4,092 | $ | 18,749 | $ | 22,841 | ||||||||
Year ended December 31, 2012: | |||||||||||||
U.S. federal | $ | — | $ | 6,743 | $ | 6,743 | |||||||
State and local | 823 | 826 | 1,649 | ||||||||||
Foreign | 1,103 | (1,253 | ) | (150 | ) | ||||||||
$ | 1,926 | $ | 6,316 | $ | 8,242 | ||||||||
Year ended December 31, 2011: | |||||||||||||
U.S. federal | $ | — | $ | 1,883 | $ | 1,883 | |||||||
State and local | 1,074 | 1,125 | 2,199 | ||||||||||
Foreign | 1,847 | (387 | ) | 1,460 | |||||||||
$ | 2,921 | $ | 2,621 | $ | 5,542 | ||||||||
U.S. and Foreign Components of Earnings Before Income Taxes | ' | ||||||||||||
The U.S. and foreign components of earnings before income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 62,506 | $ | 17,279 | $ | 13,868 | |||||||
Foreign | 474 | (1,147 | ) | (1,468 | ) | ||||||||
Total | $ | 62,980 | $ | 16,132 | $ | 12,400 | |||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 35 percent to income before taxes is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income tax expense at U.S. federal statutory rate | $ | 22,043 | $ | 5,646 | $ | 4,340 | |||||||
State and local income taxes, net of federal income tax benefit | 3,585 | 1,541 | 847 | ||||||||||
Book expenses not deductible for tax purposes | 1,351 | 1,058 | 746 | ||||||||||
Stock-based compensation | 65 | 270 | 464 | ||||||||||
Undistributed earnings of Canadian subsidiaries (a) | — | — | (4,023 | ) | |||||||||
Valuation allowance | (1,097 | ) | (331 | ) | 382 | ||||||||
Rate change (b) | (2,565 | ) | 49 | 1,743 | |||||||||
Other differences, net | (541 | ) | 9 | 1,043 | |||||||||
Income tax expense | $ | 22,841 | $ | 8,242 | $ | 5,542 | |||||||
(a) | For the period ended December 31, 2011, management asserted that the undistributed earnings of our Canadian subsidiaries were permanently reinvested and a deferred tax benefit of $4,023 was recognized from the release of the December 31, 2010 deferred tax liability. In periods prior to December 31, 2011, the undistributed earnings of our Canadian subsidiaries were not designated as permanently reinvested. | ||||||||||||
(b) | In 2013, the “Tax Burden Adjustment and Redistribution Act” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was increased to 39% from 30%. As a result, a non-cash benefit of $2,479 to income tax expense was recorded for the increase of the Puerto Rico net deferred tax asset. Also in 2013, British Columbia Bill 2 was signed into law. The enacted legislation increased the general corporate income tax rate to 11% from 10%. As a result, a non-cash benefit of $86 to income tax expense was recorded for the increase of the Canadian net deferred tax asset. | ||||||||||||
In 2012, Ontario Bill 114 was signed into law. The enacted legislation freezes the general corporate income tax rate at 11.5%, cancelling the previously enacted rate reductions for 2012 and 2013 to 11% and 10%, respectively. As a result, a non-cash charge of $49 to income tax expense was recorded for the increase of the Canadian net deferred tax liability. | |||||||||||||
In 2011, the “Internal Revenue Code for a New Puerto Rico” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was lowered from 39% to 30%. As a result, a non-cash charge of $1,743 to income tax expense was recorded for the reduction of the Puerto Rico net deferred tax asset. | |||||||||||||
Components of Deferred Taxes | ' | ||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and (liabilities) are presented below: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 2,972 | $ | 2,964 | |||||||||
Accrued liabilities not deducted for tax purposes | 37,764 | 35,580 | |||||||||||
Asset retirement obligation | 70,166 | 65,994 | |||||||||||
Net operating loss carry forwards | 138,865 | 163,597 | |||||||||||
Tax credit carry forwards | 4,844 | 3,765 | |||||||||||
Charitable contributions carry forward | 9 | 592 | |||||||||||
Gross deferred tax assets | 254,620 | 272,492 | |||||||||||
Less: valuation allowance | (2,331 | ) | (3,424 | ) | |||||||||
Net deferred tax assets | 252,289 | 269,068 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment | (45,160 | ) | (48,271 | ) | |||||||||
Intangibles | (314,382 | ) | (308,266 | ) | |||||||||
Investment in partnerships | (1,519 | ) | (1,244 | ) | |||||||||
Gross deferred tax liabilities | (361,061 | ) | (357,781 | ) | |||||||||
Net deferred tax liabilities | $ | (108,772 | ) | $ | (88,713 | ) | |||||||
Classification in the consolidated balance sheets: | |||||||||||||
Current deferred tax assets | $ | 10,378 | $ | 10,817 | |||||||||
Current deferred tax liabilities | — | — | |||||||||||
Noncurrent deferred tax assets | — | — | |||||||||||
Noncurrent deferred tax liabilities | (119,150 | ) | (99,530 | ) | |||||||||
Net deferred tax liabilities | $ | (108,772 | ) | $ | (88,713 | ) | |||||||
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | ' | ||||||||||||
accordingly. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
Balance as of December 31, 2011 | $ | 135 | |||||||||||
Additions for tax positions related to current year | 3 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (63 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2012 | $ | 75 | |||||||||||
Additions for tax positions related to current year | 1 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (41 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2013 | $ | 35 | |||||||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||||||
Income Tax Expense (Benefit) | ' | ||||||||||||
Income tax expense (benefit) consists of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended December 31, 2013: | |||||||||||||
U.S. federal | $ | 930 | $ | 21,798 | $ | 22,728 | |||||||
State and local | 1,609 | 1,184 | 2,793 | ||||||||||
Foreign | 1,553 | (4,097 | ) | (2,544 | ) | ||||||||
$ | 4,092 | $ | 18,885 | $ | 22,977 | ||||||||
Year ended December 31, 2012: | |||||||||||||
U.S. federal | $ | — | $ | 6,859 | $ | 6,859 | |||||||
State and local | 824 | 820 | 1,644 | ||||||||||
Foreign | 1,103 | (1,253 | ) | (150 | ) | ||||||||
$ | 1,927 | $ | 6,426 | $ | 8,353 | ||||||||
Year ended December 31, 2011: | |||||||||||||
U.S. federal | $ | — | $ | 2,007 | $ | 2,007 | |||||||
State and local | 1,075 | 1,295 | 2,370 | ||||||||||
Foreign | 1,847 | (386 | ) | 1,461 | |||||||||
$ | 2,922 | $ | 2,916 | $ | 5,838 | ||||||||
U.S. and Foreign Components of Earnings Before Income Taxes | ' | ||||||||||||
The U.S. and foreign components of earnings before income taxes are as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. | $ | 62,841 | $ | 17,615 | $ | 14,226 | |||||||
Foreign | 474 | (1,147 | ) | (1,468 | ) | ||||||||
Total | $ | 63,315 | $ | 16,468 | $ | 12,758 | |||||||
Schedule of Effective Income Tax Rate Reconciliation | ' | ||||||||||||
A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 35 percent to income before taxes is as follows: | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Income tax expense at U.S. federal statutory rate | $ | 22,160 | $ | 5,764 | $ | 4,465 | |||||||
State and local income taxes, net of federal income tax benefit | 3,601 | 1,557 | 865 | ||||||||||
Book expenses not deductible for tax purposes | 1,351 | 1,058 | 746 | ||||||||||
Stock-based compensation | 65 | 270 | 464 | ||||||||||
Amortization of non-deductible goodwill | — | — | 1 | ||||||||||
Undistributed earnings of Canadian subsidiaries (a) | — | — | (4,023 | ) | |||||||||
Valuation allowance | (1,094 | ) | (354 | ) | 382 | ||||||||
Rate Change (b) | (2,565 | ) | 49 | 1,743 | |||||||||
Other differences, net | (541 | ) | 9 | 1,195 | |||||||||
Income tax expense | $ | 22,977 | $ | 8,353 | $ | 5,838 | |||||||
(a) | In periods prior to December 31, 2011, the undistributed earnings of our Canadian subsidiaries were not designated as permanently reinvested. For the period ended December 31, 2011, management asserted that the undistributed earnings of our Canadian subsidiaries were permanently reinvested and a deferred tax benefit of $4,023 was recognized from the release of the December 31, 2010 deferred tax liability. | ||||||||||||
(b) | In 2013, the “Tax Burden Adjustment and Redistribution Act” was signed into law. Under the enacted legislation, the Puerto Rico corporate income tax rate was increased to 39% from 30%. As a result, a non-cash benefit of $2,479 to income tax expense was recorded for the increase of the Puerto Rico net deferred tax asset. Also in 2013, British Columbia Bill 2 was signed into law. The enacted legislation increased the general corporate income tax rate to 11% from 10%. As a result, a non-cash benefit of $86 to income tax expense was recorded for the increase of the Canadian net deferred tax asset. | ||||||||||||
Components of Deferred Taxes | ' | ||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and (liabilities) are presented below: | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 2,972 | $ | 2,964 | |||||||||
Accrued liabilities not deducted for tax purposes | 37,764 | 35,580 | |||||||||||
Asset retirement obligation | 70,166 | 65,994 | |||||||||||
Net operating loss carry forwards | 89,496 | 114,361 | |||||||||||
Tax credit carry forwards | 19,615 | 18,537 | |||||||||||
Charitable contributions carry forward | 9 | 592 | |||||||||||
Gross deferred tax assets | 220,022 | 238,028 | |||||||||||
Less: valuation allowance | (1,760 | ) | (2,851 | ) | |||||||||
Net deferred tax assets | 218,262 | 235,177 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Property, plant and equipment | (45,160 | ) | (48,271 | ) | |||||||||
Intangibles | (313,746 | ) | (307,630 | ) | |||||||||
Investment in partnerships | (1,519 | ) | (1,244 | ) | |||||||||
Gross deferred tax liabilities | (360,425 | ) | (357,145 | ) | |||||||||
Net deferred tax liabilities | $ | (142,163 | ) | $ | (121,968 | ) | |||||||
Classification in the consolidated balance sheets: | |||||||||||||
Current deferred tax assets | $ | 10,378 | $ | 10,817 | |||||||||
Current deferred tax liabilities | — | — | |||||||||||
Noncurrent deferred tax assets | — | — | |||||||||||
Noncurrent deferred tax liabilities | (152,541 | ) | (132,785 | ) | |||||||||
Net deferred tax liabilities | $ | (142,163 | ) | $ | (121,968 | ) | |||||||
Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||||
Balance as of December 31, 2011 | $ | 135 | |||||||||||
Additions for tax positions related to current year | 3 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (63 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2012 | $ | 75 | |||||||||||
Additions for tax positions related to current year | 1 | ||||||||||||
Additions for tax positions related to prior years | — | ||||||||||||
Reductions for tax positions related to prior years | — | ||||||||||||
Lapse of statute of limitations | (41 | ) | |||||||||||
Settlements | — | ||||||||||||
Balance as of December 31, 2013 | $ | 35 | |||||||||||
Stock_Compensation_Plans_Table
Stock Compensation Plans (Tables) | 6 Months Ended | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ||||||||||||||||||||
Weighted Average Fair Value of Options Granted | ' | ' | ||||||||||||||||||||
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used: | ||||||||||||||||||||||
Grant Year | Dividend | Expected | Risk Free | Expected | ||||||||||||||||||
Yield | Volatility | Interest Rate | Lives | |||||||||||||||||||
2013 | 0 | % | 51 | % | 1 | % | 6 | |||||||||||||||
2012 | 0 | % | 52 | % | 2 | % | 5 | |||||||||||||||
2011 | 0 | % | 52 | % | 2 | % | 5 | |||||||||||||||
Stock Option Transactions under Various Stock-Based Employee Compensation Plans | ' | ' | ||||||||||||||||||||
Information regarding the 1996 Plan for the year ended December 31, 2013 is as follows: | ||||||||||||||||||||||
Shares | Weighted | Weighted | ||||||||||||||||||||
Average | Average | |||||||||||||||||||||
Exercise | Contractual | |||||||||||||||||||||
Price | Life | |||||||||||||||||||||
Outstanding, beginning of year | 2,124,886 | $ | 22.36 | |||||||||||||||||||
Granted | 1,807,000 | 42.31 | ||||||||||||||||||||
Exercised | (682,263 | ) | 24.9 | |||||||||||||||||||
Canceled | (17,200 | ) | 38.73 | |||||||||||||||||||
Outstanding, end of year | 3,232,423 | $ | 32.89 | 7.37 | ||||||||||||||||||
Exercisable at end of year | 1,737,823 | $ | 25.16 | 5.95 | ||||||||||||||||||
Summary of ESPP Share Activity | ' | ' | ||||||||||||||||||||
The following is a summary of 2009 ESPP share activity for the six months ended June 30, 2014: | The following is a summary of 2009 ESPP share activity for the year ended December 31, 2013: | |||||||||||||||||||||
Shares | Shares | |||||||||||||||||||||
Available for future purchases, January 1, 2014 | 327,689 | Available for future purchases, January 1, 2013 | 358,950 | |||||||||||||||||||
Additional shares reserved under 2009 ESPP | 80,209 | Additional shares reserved under 2009 ESPP | 78,963 | |||||||||||||||||||
Purchases | (51,045 | ) | Purchases | (110,224 | ) | |||||||||||||||||
Available for future purchases, June 30, 2014 | 356,853 | Available for future purchases, December 31, 2013 | 327,689 | |||||||||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Summary of Quarterly Financial Data | ' | ||||||||||||||||
The tables below represent the “as adjusted” balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2013 and 2012. See Note (1)(c) Adjustment to Previously Reported Amounts for further information. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 276,605 | $ | 327,744 | $ | 321,141 | $ | 320,352 | |||||||||
Net revenues less direct advertising expenses | $ | 170,086 | $ | 217,021 | $ | 211,501 | $ | 210,390 | |||||||||
Net (loss) income applicable to common stock | $ | (10,354 | ) | $ | 23,031 | $ | 17,003 | $ | 10,094 | ||||||||
Net (loss) income per common share basic | $ | (0.11 | ) | $ | 0.24 | $ | 0.18 | $ | 0.11 | ||||||||
Net (loss) income per common share — diluted | $ | (0.11 | ) | $ | 0.24 | $ | 0.18 | $ | 0.11 | ||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 262,465 | $ | 301,106 | $ | 309,526 | $ | 306,639 | |||||||||
Net revenues less direct advertising expenses | $ | 159,042 | $ | 196,035 | $ | 205,681 | $ | 200,440 | |||||||||
Net (loss) income applicable to common stock | $ | (25,209 | ) | $ | 11,534 | $ | 13,381 | $ | 7,819 | ||||||||
Net (loss) income per common share basic | $ | (0.27 | ) | $ | 0.13 | $ | 0.14 | $ | 0.08 | ||||||||
Net (loss) income per common share — diluted | $ | (0.27 | ) | $ | 0.13 | $ | 0.14 | $ | 0.08 | ||||||||
The tables below represent the “as previously reported” balances for the selected quarterly financial data of the Company for the quarters ended March 31, June 30 and September 30, 2013 and all reporting periods in the year ended December 31, 2012. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | |||||||||||||||
Net revenues | $ | 283,479 | $ | 324,684 | $ | 323,184 | |||||||||||
Net revenues less direct advertising expenses | $ | 176,960 | $ | 213,961 | $ | 213,544 | |||||||||||
Net (loss) income applicable to common stock | $ | (6,161 | ) | $ | 21,164 | $ | 18,249 | ||||||||||
Net (loss) income per common share basic | $ | (0.07 | ) | $ | 0.22 | $ | 0.09 | ||||||||||
Net (loss) income per common share — diluted | $ | (0.07 | ) | $ | 0.22 | $ | 0.09 | ||||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 266,238 | $ | 304,872 | $ | 306,286 | $ | 305,505 | |||||||||
Net revenues less direct advertising expenses | $ | 162,815 | $ | 199,801 | $ | 202,441 | $ | 199,306 | |||||||||
Net (loss) income applicable to common stock | $ | (22,907 | ) | $ | 13,831 | $ | 11,405 | $ | 7,127 | ||||||||
Net (loss) income per common share basic | $ | (0.25 | ) | $ | 0.15 | $ | 0.12 | $ | 0.08 | ||||||||
Net (loss) income per common share — diluted | $ | (0.25 | ) | $ | 0.15 | $ | 0.12 | $ | 0.08 | ||||||||
LAMAR MEDIA CORP [Member] | ' | ||||||||||||||||
Summary of Quarterly Financial Data | ' | ||||||||||||||||
The tables below represent the “as adjusted” balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2013 and 2012. See Note (1)(c) Adjustment to Previously Reported Amounts for further information. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 276,605 | $ | 327,744 | $ | 321,141 | $ | 320,352 | |||||||||
Net revenues less direct advertising expenses | $ | 170,086 | $ | 217,021 | $ | 211,501 | $ | 210,390 | |||||||||
Net (loss) income | $ | (10,212 | ) | $ | 23,178 | $ | 17,144 | $ | 10,228 | ||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 262,465 | $ | 301,106 | $ | 309,526 | $ | 306,639 | |||||||||
Net revenues less direct advertising expenses | $ | 159,042 | $ | 196,035 | $ | 205,681 | $ | 200,440 | |||||||||
Net (loss) income | $ | (25,127 | ) | $ | 11,695 | $ | 13,561 | $ | 7,986 | ||||||||
The tables below represent the “as previously reported” balances for the selected quarterly financial data of the Company for the quarters ended March 31, June 30 and September 30, 2013 and all reporting periods in the year ended December 31, 2012. | |||||||||||||||||
Year 2013 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | |||||||||||||||
Net revenues | $ | 283,479 | $ | 324,684 | $ | 323,184 | |||||||||||
Net revenues less direct advertising expenses | $ | 176,960 | $ | 213,961 | $ | 213,544 | |||||||||||
Net (loss) income | $ | (6,019 | ) | $ | 21,311 | $ | 18,390 | ||||||||||
Year 2012 Quarters | |||||||||||||||||
March 31 | June 30 | September 30 | December 31 | ||||||||||||||
Net revenues | $ | 266,238 | $ | 304,872 | $ | 306,286 | $ | 305,505 | |||||||||
Net revenues less direct advertising expenses | $ | 162,815 | $ | 199,801 | $ | 202,441 | $ | 199,306 | |||||||||
Net (loss) income | $ | (22,825 | ) | $ | 13,992 | $ | 11,585 | $ | 7,294 |
Significant_Accounting_Policie3
Significant Accounting Policies - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
Transit | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] | Accumulated Deficit [Member] | Deferred Income Liability [Member] | Current Deferred Income Liabilities [Member] | Current Deferred Income Liabilities [Member] | Total Revenue [Member] | Total Revenue [Member] | Net Income [Member] | Net Income [Member] | Stock options [Member] | Performance-based stock incentive program [Member] | Stock awards to directors [Member] | Minimum [Member] | Maximum [Member] | |||||
Billboard | Billboard | ||||||||||||||||||||||||
State | State | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of advertising displays | ' | ' | 145,000 | ' | ' | ' | ' | 145,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in which the company operates | ' | ' | 44 | ' | ' | ' | ' | 44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in which the company operates logo sign business | ' | ' | 22 | ' | ' | ' | ' | 22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of transit advertising displays | ' | ' | 38,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of states in which the company operates | ' | ' | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Immaterial amount being corrected | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,208 | $11,277 | $9,585 | $15,713 | $21,651 | $18,486 | $3,165 | $2,773 | $1,931 | $1,692 | ' | ' | ' | ' | ' |
Decrease in earnings per basic and diluted shares | ' | ' | ' | $0.02 | $0.02 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful lives of Intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '15 years |
Dilutive shares | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | $10,513 | $17,195 | $24,936 | $14,466 | $11,650 | $10,513 | $17,195 | $24,936 | $14,466 | $11,650 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17,340 | $7,231 | $365 | ' | ' |
Investment maturity period | ' | ' | 'Three months or less | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant_Accounting_Policie4
Significant Accounting Policies - Revenue and Expense Recognized for Advertising Barter Transactions (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' |
Net revenues | $7,862 | $6,798 | $7,153 |
Direct advertising expenses | 3,005 | 2,900 | 2,766 |
General and administrative expenses | $4,417 | $3,699 | $3,524 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition [Line Items] | ' | ' |
Total purchase price of outdoor advertising assets | $97,230 | $230,009 |
Total purchase price of outdoor advertising assets paid in cash | 92,248 | 206,068 |
Non cash consideration of outdoor advertising assets | 4,982 | 23,941 |
Gain on exchange of outdoor advertising assets | 67 | 9,805 |
Total acquired intangible assets | 79,784 | 157,484 |
Portion of acquired intangible assets assigned to goodwill | 18,631 | 60,968 |
Amount deductible for tax purposes | 18,582 | 23,937 |
Aggregate amortization expense related to acquisition | 2,158 | 679 |
Other [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Weighted average useful life | '14 years | '14 years |
Total acquired intangible assets | 61,153 | 96,516 |
Customer lists and contracts [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Total acquired intangible assets | 10,390 | 18,148 |
Weighted average useful life | '7 years | '7 years |
Site locations [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Total acquired intangible assets | $50,333 | $78,288 |
Weighted average useful life | '15 years | '15 years |
Acquisitions_Summary_of_Prelim
Acquisitions - Summary of Preliminary Allocation of Acquisition Costs (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition [Line Items] | ' | ' |
Property, plant and equipment | $18,196 | $74,326 |
Goodwill | 18,631 | 60,968 |
Other asset | 1,408 | 7,763 |
Current liabilities | -2,158 | -3,424 |
Long-term liabilities | ' | -6,140 |
Total | 97,230 | 230,009 |
Site locations [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Finite lived intangible assets | 50,333 | 78,288 |
Non-competition agreements [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Finite lived intangible assets | 430 | 80 |
Customer lists and contracts [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Finite lived intangible assets | $10,390 | $18,148 |
Acquisitions_Summary_of_Unaudi
Acquisitions - Summary of Unaudited Pro Forma Financial Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Business Combinations [Abstract] | ' | ' | ' |
Net revenues | $1,255,376 | $1,225,958 | $1,174,520 |
Net income (loss) applicable to common stock | $40,725 | $12,098 | $6,626 |
Net loss per common share - basic | $0.43 | $0.13 | $0.07 |
Net loss per common share - diluted | $0.43 | $0.13 | $0.07 |
Noncash_Financing_and_Investin1
Non-cash Financing and Investing Activities - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Disclosure Of Non Cash Investing And Financing Information [Line Items] | ' | ' | ' |
Non-cash acquisition of outdoor advertising assets | $4,982 | $23,941 | ' |
Non-cash investing activity | ' | ' | 4,000 |
Payments for deposits | ' | ' | 1,900 |
Total purchase price | ' | ' | 11,539 |
LAMAR MEDIA CORP [Member] | ' | ' | ' |
Supplemental Disclosure Of Non Cash Investing And Financing Information [Line Items] | ' | ' | ' |
Non-cash acquisition of outdoor advertising assets | 4,982 | 23,941 | ' |
Non-cash investing activity | 0 | 0 | 4,000 |
Payments for deposits | ' | ' | 1,900 |
Total purchase price | ' | ' | $11,539 |
Property_Plant_and_Equipment_S
Property, Plant and Equipment - Summary of Major Categories of Property, Plant and Equipment (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Land [Member] | Land [Member] | Land [Member] | Land [Member] | Building and improvements [Member] | Building and improvements [Member] | Building and improvements [Member] | Building and improvements [Member] | Advertising structures [Member] | Advertising structures [Member] | Advertising structures [Member] | Advertising structures [Member] | Automotive and other equipment [Member] | Automotive and other equipment [Member] | Automotive and other equipment [Member] | Automotive and other equipment [Member] | |||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property plant and equipment, Estimated life | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '39 years | ' | ' | '5 years | '15 years | ' | ' | '3 years | '7 years |
Property, plant and equipment | $3,077,518 | $3,036,456 | $2,940,449 | $312,883 | $317,223 | ' | ' | $125,724 | $115,646 | ' | ' | $2,459,313 | $2,378,940 | ' | ' | $138,424 | $128,640 | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Minimum [Member] | Maximum [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Customer lists and contracts [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Non-competition agreements [Member] | Site locations [Member] | Site locations [Member] | Site locations [Member] | Site locations [Member] | Site locations [Member] | Site locations [Member] | Site locations [Member] | Site locations [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | |||
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | Maximum [Member] | Maximum [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | ||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Life (Years) | ' | ' | ' | '3 years | '15 years | ' | ' | ' | ' | ' | '7 years | '7 years | '10 years | '10 years | ' | ' | '7 years | '10 years | ' | ' | ' | '3 years | '3 years | '15 years | '15 years | ' | ' | '3 years | '15 years | ' | ' | ' | '15 years | '15 years | ' | ' | '15 years | ' | ' | ' | '5 years | '5 years | '15 years | '15 years | ' | ' | '5 years | '15 years |
Gross Carrying Amount | $2,072,040 | $2,065,875 | $2,009,191 | ' | ' | $2,065,330 | $2,008,646 | $494,615 | $492,299 | $482,883 | ' | ' | ' | ' | $492,299 | $482,883 | ' | ' | $63,943 | $63,933 | $63,519 | ' | ' | ' | ' | $63,933 | $63,519 | ' | ' | $1,499,474 | $1,495,635 | $1,449,181 | ' | ' | $1,495,635 | $1,449,181 | ' | $14,008 | $14,008 | $13,608 | ' | ' | ' | ' | $13,463 | $13,063 | ' | ' |
Accumulated Amortization | 1,700,132 | 1,646,490 | 1,540,879 | ' | ' | 1,646,411 | 1,540,809 | 466,705 | 463,188 | 455,549 | ' | ' | ' | ' | 463,188 | 455,549 | ' | ' | 63,061 | 62,914 | 62,566 | ' | ' | ' | ' | 62,914 | 62,566 | ' | ' | 1,156,903 | 1,106,947 | 1,009,631 | ' | ' | 1,106,945 | 1,009,631 | ' | 13,463 | 13,441 | 13,133 | ' | ' | ' | ' | 13,364 | 13,063 | ' | ' |
Goodwill gross carrying amount | 1,757,200 | 1,757,089 | 1,738,686 | ' | ' | 1,746,068 | 1,727,665 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill accumulated amortization | $253,536 | $253,536 | $253,536 | ' | ' | $252,667 | $252,667 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Summary of Changes in Gross Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2014 |
Goodwill [Line Items] | ' | ' |
Goodwill, beginning balance | $1,738,686 | $1,757,200 |
Goodwill acquired during the year | 18,631 | ' |
Purchase price adjustments and other | -228 | ' |
Impairment losses | ' | ' |
Goodwill, ending balance | 1,757,089 | 1,757,200 |
LAMAR MEDIA CORP [Member] | ' | ' |
Goodwill [Line Items] | ' | ' |
Goodwill, beginning balance | 1,727,665 | ' |
Goodwill acquired during the year | 18,631 | ' |
Purchase price adjustments and other | -228 | ' |
Impairment losses | ' | ' |
Goodwill, ending balance | $1,746,068 | ' |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
Amortization expense | $106,533 | $102,941 | $102,918 |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Summary of Estimated Amortization Expense (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' |
2014 | ' | $94,763 | ' |
2015 | ' | 58,713 | ' |
2016 | ' | 48,503 | ' |
2017 | ' | 43,255 | ' |
2018 | ' | 38,542 | ' |
Thereafter | ' | 135,609 | ' |
Total | $371,908 | $419,385 | $468,312 |
Leases_Summary_of_Minimum_Annu
Leases - Summary of Minimum Annual Rental Payments (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Leases [Abstract] | ' |
2014 | $155,374 |
2015 | 125,503 |
2016 | 109,737 |
2017 | 94,932 |
2018 | 80,956 |
Thereafter | $595,410 |
Leases_Additional_Information_
Leases - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Rental expense related to company's operating lease | $222,638 | $209,110 | $205,378 |
Accrued_Expenses_Summary_of_Ac
Accrued Expenses - Summary of Accrued Expenses (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Accounts Payable And Accrued Liabilities Current [Line Items] | ' | ' | ' |
Payroll | ' | $11,311 | $12,854 |
Interest | ' | 23,451 | 31,888 |
Insurance benefits | ' | 13,090 | 12,537 |
Accrued lease expense | ' | 37,346 | 32,100 |
Other | ' | 13,726 | 10,082 |
Total | 97,130 | 98,924 | 99,461 |
LAMAR MEDIA CORP [Member] | ' | ' | ' |
Accounts Payable And Accrued Liabilities Current [Line Items] | ' | ' | ' |
Payroll | ' | 11,311 | 12,854 |
Interest | ' | 23,451 | 31,888 |
Other | ' | 60,870 | 52,118 |
Total | $93,461 | $95,632 | $96,860 |
Longterm_Debt_LongTerm_Debt_De
Long-term Debt - Long-Term Debt (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | $1,927,867 | $1,938,802 | $2,160,854 |
Less current maturities | -15,636 | -55,935 | -33,134 |
Long-term debt, excluding current maturities | 1,912,231 | 1,882,867 | 2,127,720 |
LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 1,938,802 | 2,160,854 |
Less current maturities | -15,636 | -55,935 | -33,134 |
Long-term debt, excluding current maturities | 1,912,231 | 1,882,867 | 2,127,720 |
Senior Credit Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | 381,250 | 502,106 | 384,664 |
Senior Credit Facility [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 502,106 | 384,664 |
7 7/8% Senior Subordinated Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 400,000 | 400,000 |
7 7/8% Senior Subordinated Notes [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 400,000 | 400,000 |
5 7/8% Senior Subordinated Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | 500,000 | 500,000 | 500,000 |
5 7/8% Senior Subordinated Notes [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 500,000 | 500,000 |
5% Senior Subordinated Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | 535,000 | 535,000 | 535,000 |
5% Senior Subordinated Notes [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 535,000 | 535,000 |
9 3/4% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | ' | 339,121 |
9 3/4% Senior Notes [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | ' | 339,121 |
Other notes with various rates and terms [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | 1,617 | 1,696 | 2,069 |
Other notes with various rates and terms [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | ' | 1,696 | 2,069 |
5 3/8% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Long Term Debt | $510,000 | ' | ' |
Longterm_Debt_LongTerm_Debt_Pa
Long-term Debt - Long-Term Debt (Parenthetical) (Detail) | Apr. 18, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Apr. 22, 2010 | Jun. 30, 2014 | Dec. 31, 2013 | Feb. 09, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Oct. 30, 2012 | Dec. 31, 2012 | Mar. 27, 2009 | Jun. 30, 2014 | Jan. 10, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 9 3/4% Senior Notes [Member] | 9 3/4% Senior Notes [Member] | 5 3/8% Senior Notes [Member] | 5 3/8% Senior Notes [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | LAMAR MEDIA CORP [Member] | ||
7 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 9 3/4% Senior Notes [Member] | |||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on senior notes | 7.88% | 7.88% | 7.88% | 7.88% | 5.88% | 5.88% | 5.88% | 5.00% | 5.00% | 5.00% | 9.75% | 9.75% | 5.38% | 5.38% | 7.88% | 5.88% | 5.00% | 9.75% |
Longterm_Debt_Summary_of_LongT
Long-term Debt - Summary of Long-Term Debt Matures (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt Instrument [Line Items] | ' |
2014 | $55,935 |
2015 | 335,698 |
2016 | 27,142 |
2017 | 85,000 |
2018 | 400,000 |
Later years | 1,035,027 |
LAMAR MEDIA CORP [Member] | ' |
Debt Instrument [Line Items] | ' |
2014 | 55,935 |
2015 | 335,698 |
2016 | 27,142 |
2017 | 85,000 |
2018 | 400,000 |
Later years | $1,035,027 |
Longterm_Debt_Additional_Infor
Long-term Debt - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Apr. 18, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 18, 2014 | Apr. 18, 2014 | Apr. 18, 2014 | Apr. 18, 2014 | Apr. 18, 2014 | Apr. 18, 2014 | Jan. 10, 2014 | Jun. 30, 2014 | Feb. 03, 2014 | Dec. 31, 2013 | Feb. 09, 2012 | Dec. 04, 2013 | Mar. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 27, 2009 | Apr. 21, 2014 | Apr. 30, 2010 | Jun. 30, 2014 | Apr. 18, 2014 | Dec. 31, 2013 | Apr. 22, 2010 | Feb. 29, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Feb. 09, 2012 | Oct. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2013 | Oct. 30, 2012 | Dec. 31, 2013 | Jun. 30, 2014 | Feb. 09, 2012 | Feb. 09, 2012 | Feb. 09, 2012 | Feb. 09, 2012 | Feb. 09, 2012 | Apr. 18, 2014 | Feb. 03, 2014 | Feb. 09, 2012 | Jan. 31, 2014 | Jun. 30, 2014 | Jan. 10, 2014 |
LIBO Rate [Member] | LIBO Rate [Member] | Base Rate [Member] | Base Rate [Member] | Term A Loan Facility [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Letter of Credit [Member] | Letter of Credit [Member] | 9 3/4% Senior Notes [Member] | 9 3/4% Senior Notes [Member] | 9 3/4% Senior Notes [Member] | 9 3/4% Senior Notes [Member] | 9 3/4% Senior Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 7 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5 7/8% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | 5% Senior Subordinated Notes [Member] | Senior Credit Facility [Member] | Senior Credit Facility [Member] | Senior Credit Facility [Member] | Term Loan A-1 Facility [Member] | Term Loan A-2 Facility [Member] | Term Loan A-3 Facility [Member] | Term Loan B Facility [Member] | Incremental Facility [Member] | Incremental Facility [Member] | Incremental Facility [Member] | 5 3/8% Senior Notes [Member] | 5 3/8% Senior Notes [Member] | 5 3/8% Senior Notes [Member] | ||||||||
Debt Ratio Less Than Or Equal To Three [Member] | Debt Ratio Less Than Or Equal To Three [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate on convertible notes | ' | ' | ' | ' | ' | ' | 7.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | 9.75% | ' | ' | 7.88% | ' | 7.88% | 7.88% | ' | 5.88% | 5.88% | 5.88% | ' | 5.00% | 5.00% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.38% | 5.38% |
Aggregate principal amount of debt issued | ' | $1,927,867 | $1,927,867 | $1,938,802 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $350,000 | ' | ' | ' | $400,000 | ' | $400,000 | ' | ' | ' | $500,000 | $535,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $510,000 |
Gross proceeds from the issuance of debt | ' | ' | 510,000 | ' | 1,035,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 314,927 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net proceeds from the issuance of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 307,489 | ' | ' | ' | ' | 392,000 | ' | ' | ' | ' | 489,000 | ' | ' | ' | 527,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 502,300 | ' | ' |
Description of Interest computation | ' | ' | ' | '360-day year comprised of twelve 30-day months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption percentage of aggregate principal amount of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | 35.00% | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' |
Additional redeemed percentage of aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109.75% | ' | ' | ' | ' | 107.88% | ' | ' | ' | ' | 105.88% | ' | ' | ' | 105.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105.38% | ' | ' |
Redemption percentage equal to principal amount include aggregate premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | ' | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Redemption price percentage of the principal amount to be purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' |
Principal amount of debt extinguished | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss (gain) on extinguishment of debt | ' | 20,847 | 26,023 | 14,345 | 41,632 | 677 | ' | ' | ' | ' | ' | ' | 5,176 | ' | ' | ' | ' | 14,345 | ' | ' | ' | ' | 20,847 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash loss on debt extinguishment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,962 | ' | ' | ' | ' | 5,095 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding revolving credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,000 | ' | 150,000 | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption percentage of issued notes which remain outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | 65.00% | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' |
Increase in credit Facility | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | ' | 400,000 | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 270,000 | 30,000 | 100,000 | 575,000 | 500,000 | 500,000 | 300,000 | ' | ' | ' |
Additional Senior credit facility | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior debt ratio | ' | ' | ' | 3.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25 | 3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility maximum borrowing capacity available to subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110,000 | ' | ' | ' |
Reduced percentage of consolidated excess cash flow to repay outstanding loan two | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of indebtedness to net capital minimum | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ratio of indebtedness to net capital one | ' | ' | ' | ' | ' | ' | ' | 3 | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,973 | ' | 6,973 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity under revolving credit facility | ' | $308,027 | $308,027 | $93,027 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '120 days | ' | ' |
Amended and restated date | 18-Apr-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term A Loan Adjusted Base Rate | ' | ' | ' | ' | ' | ' | ' | 2.00% | 1.75% | 1.00% | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility maturity date | ' | ' | 2-Feb-19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Longterm_Debt_Remaining_Quarte
Long-term Debt - Remaining Quarterly Amortizations of Term Loan Facilities (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
December 31, 2013 - March 31, 2014 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | $6,750,000 |
December 31, 2013 - March 31, 2014 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 750,000 |
December 31, 2013 - March 31, 2014 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 625,000 |
December 31, 2013 - March 31, 2014 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 57,500 |
June 30, 2014 - December 31, 2014 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 13,500,000 |
June 30, 2014 - December 31, 2014 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,500,000 |
June 30, 2014 - December 31, 2014 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 625,000 |
June 30, 2014 - December 31, 2014 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 57,400 |
March 31, 2015 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 13,500,000 |
March 31, 2015 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,500,000 |
March 31, 2015 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,250,000 |
March 31, 2015 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 57,500 |
June 30, 2015 - September 30, 2015 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 37,125,000 |
June 30, 2015 - September 30, 2015 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 4,125,000 |
June 30, 2015 - September 30, 2015 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,250,000 |
June 30, 2015 - September 30, 2015 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 57,400 |
December 31, 2015 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 74,250,000 |
December 31, 2015 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 8,250,000 |
December 31, 2015 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,250,000 |
December 31, 2015 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 57,400 |
March 31, 2016 - September 30, 2016 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
March 31, 2016 - September 30, 2016 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
March 31, 2016 - September 30, 2016 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,250,000 |
March 31, 2016 - September 30, 2016 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 57,400 |
December 31, 2016 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
December 31, 2016 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
December 31, 2016 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 1,250,000 |
December 31, 2016 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 21,474,700 |
March 31, 2017 - June 30, 2017 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
March 31, 2017 - June 30, 2017 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
March 31, 2017 - June 30, 2017 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 21,250,000 |
March 31, 2017 - June 30, 2017 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
August 9, 2017 [Member] | Term Loan A-1 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
August 9, 2017 [Member] | Term Loan A-2 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
August 9, 2017 [Member] | Term Loan A-3 Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | 42,500,000 |
August 9, 2017 [Member] | Term Loan B Facility [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal amount | ' |
Longterm_Debt_Remaining_Quarte1
Long-term Debt - Remaining Quarterly Amortizations of Term Loan Facilities (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
December 31, 2013 - March 31, 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2014-03-31 |
June 30, 2014 - December 31, 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2014-06-30 - 2014-12-31 |
March 31, 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2015-03-31 |
June 30, 2015 - September 30, 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2015-06-30 - 2015-09-30 |
December 31, 2015 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2015-12-31 |
March 31, 2016 - September 30, 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2016-03-31 - 2016-09-30 |
December 31, 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2016-12-31 |
March 31, 2017 - June 30, 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2017-03-31 - 2017-06-30 |
August 9, 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2017-08-09 |
Asset_Retirement_Obligations_I
Asset Retirement Obligations - Information Related to Asset Retirement Obligations (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Asset Retirement Obligation Disclosure [Abstract] | ' | ' | ' |
Beginning Balance | $200,831 | $189,659 | $180,662 |
Additions to asset retirement obligations | 636 | 3,741 | 5,434 |
Accretion expense | 2,647 | 11,046 | 10,871 |
Liabilities settled | -1,341 | -3,615 | -7,308 |
Ending Balance | $202,773 | $200,831 | $189,659 |
Depreciation_and_Amortization_1
Depreciation and Amortization - Depreciation and Amortization Expense Excluded from Operating Expenses (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Component Of Other Income And Expense [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | $71,049 | $72,408 | $140,575 | $146,309 | $300,579 | $296,083 | $299,639 |
Direct advertising expenses [Member] | ' | ' | ' | ' | ' | ' | ' |
Component Of Other Income And Expense [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 66,946 | 69,999 | 132,538 | 138,225 | 283,280 | 277,662 | 283,720 |
General and administrative expenses [Member] | ' | ' | ' | ' | ' | ' | ' |
Component Of Other Income And Expense [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | 1,080 | 894 | 2,101 | 1,770 | 4,684 | 4,137 | 4,224 |
Corporate expenses [Member] | ' | ' | ' | ' | ' | ' | ' |
Component Of Other Income And Expense [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | $3,023 | $1,515 | $5,936 | $6,314 | $12,615 | $14,284 | $11,695 |
Income_Taxes_Income_Tax_Expens
Income Taxes - Income Tax Expense (Benefit) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax [Line Items] | ' | ' | ' | ' | ' | ' | ' |
U.S. federal, Current | ' | ' | ' | ' | $930 | ' | ' |
State and local, Current | ' | ' | ' | ' | 1,609 | 823 | 1,074 |
Foreign, Current | ' | ' | ' | ' | 1,553 | 1,103 | 1,847 |
Total Current | ' | ' | ' | ' | 4,092 | 1,926 | 2,921 |
U.S. federal, Deferred | ' | ' | ' | ' | 21,681 | 6,743 | 1,883 |
State and local, Deferred | ' | ' | ' | ' | 1,165 | 826 | 1,125 |
Foreign, Deferred | ' | ' | ' | ' | -4,097 | -1,253 | -387 |
Total, Deferred | ' | ' | -2,215 | 3,620 | 18,749 | 6,316 | 2,621 |
U.S. federal, Total | ' | ' | ' | ' | 22,611 | 6,743 | 1,883 |
State and local, Total | ' | ' | ' | ' | 2,774 | 1,649 | 2,199 |
Foreign, Total | ' | ' | ' | ' | -2,544 | -150 | 1,460 |
Income tax expense | 10,726 | 12,359 | 7,239 | 5,005 | 22,841 | 8,242 | 5,542 |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' | ' | ' |
U.S. federal, Current | ' | ' | ' | ' | 930 | ' | ' |
State and local, Current | ' | ' | ' | ' | 1,609 | 824 | 1,075 |
Foreign, Current | ' | ' | ' | ' | 1,553 | 1,103 | 1,847 |
Total Current | ' | ' | ' | ' | 4,092 | 1,927 | 2,922 |
U.S. federal, Deferred | ' | ' | ' | ' | 21,798 | 6,859 | 2,007 |
State and local, Deferred | ' | ' | ' | ' | 1,184 | 820 | 1,295 |
Foreign, Deferred | ' | ' | ' | ' | -4,097 | -1,253 | -386 |
Total, Deferred | ' | ' | -2,137 | 3,694 | 18,885 | 6,426 | 2,916 |
U.S. federal, Total | ' | ' | ' | ' | 22,728 | 6,859 | 2,007 |
State and local, Total | ' | ' | ' | ' | 2,793 | 1,644 | 2,370 |
Foreign, Total | ' | ' | ' | ' | -2,544 | -150 | 1,461 |
Income tax expense | $10,761 | $12,391 | $7,317 | $5,079 | $22,977 | $8,353 | $5,838 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income taxes payable | ' | ' | ' | ' | $848 | $252 | ' |
Income tax rate | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% |
Net operating loss subject to IRC 382 | ' | ' | ' | ' | 13,049 | ' | ' |
Amounts of credits available to offset income tax | ' | ' | ' | ' | 4,443 | ' | ' |
Net change in total valuation allowance | ' | ' | ' | ' | -1,087 | -332 | 410 |
Net operating loss | 73,038 | 73,317 | 104,182 | 92,372 | 223,437 | 214,526 | 183,601 |
Potential deferred tax liability | ' | ' | ' | ' | 7,583 | ' | ' |
Undistributed earnings of subsidiaries | ' | ' | ' | ' | 21,665 | ' | ' |
Unrecognized tax benefits | ' | ' | ' | ' | 35 | 75 | 135 |
Interest and penalty expense | ' | ' | ' | ' | 1 | 3 | ' |
Interest and penalties related to uncertain tax positions | ' | ' | ' | ' | 4 | 14 | ' |
Unrecognized tax benefits, decreases resulting from expiration of statute of limitations | ' | ' | ' | ' | 35 | ' | ' |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income taxes payable | ' | ' | ' | ' | 630 | 0 | ' |
Income tax rate | ' | ' | ' | ' | 35.00% | 35.00% | 35.00% |
Net operating loss subject to IRC 382 | ' | ' | ' | ' | 13,049 | ' | ' |
Amounts of credits available to offset income tax | ' | ' | ' | ' | 19,214 | ' | ' |
Net change in total valuation allowance | ' | ' | ' | ' | -1,085 | -356 | 407 |
Net operating loss | 73,131 | 73,405 | 104,377 | 92,553 | 223,772 | 214,862 | 183,959 |
Potential deferred tax liability | ' | ' | ' | ' | 7,583 | ' | ' |
Undistributed earnings of subsidiaries | ' | ' | ' | ' | 21,665 | ' | ' |
Unrecognized tax benefits | ' | ' | ' | ' | 35 | 75 | 135 |
Interest and penalty expense | ' | ' | ' | ' | 1 | 3 | ' |
Interest and penalties related to uncertain tax positions | ' | ' | ' | ' | 4 | 14 | ' |
Unrecognized tax benefits, decreases resulting from expiration of statute of limitations | ' | ' | ' | ' | 35 | ' | ' |
Domestic Country [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
US net operating loss carry forward | ' | ' | ' | ' | 65,641 | ' | ' |
Domestic Country [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
US net operating loss carry forward | ' | ' | ' | ' | 65,976 | ' | ' |
State and Local Jurisdiction [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amounts of credits available to offset income tax | ' | ' | ' | ' | 247 | ' | ' |
State net operating loss carry forward | ' | ' | ' | ' | 430,191 | ' | ' |
Valuation allowance for State and Local deferred tax assets | ' | ' | ' | ' | 2,323 | 3,410 | ' |
State and Local Jurisdiction [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amounts of credits available to offset income tax | ' | ' | ' | ' | 247 | ' | ' |
State net operating loss carry forward | ' | ' | ' | ' | 392,470 | ' | ' |
Valuation allowance for State and Local deferred tax assets | ' | ' | ' | ' | 1,751 | 2,836 | ' |
U S [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
US net operating loss carry forwards | ' | ' | ' | ' | 305,172 | ' | ' |
U S [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
US net operating loss carry forwards | ' | ' | ' | ' | 169,411 | ' | ' |
Puerto Rico [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amounts of credits available to offset income tax | ' | ' | ' | ' | 154 | ' | ' |
Puerto Rico net operating loss carry forward | ' | ' | ' | ' | 28,523 | ' | ' |
Net operating loss | ' | ' | ' | ' | 3,285 | ' | ' |
Puerto Rico [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Amounts of credits available to offset income tax | ' | ' | ' | ' | 154 | ' | ' |
Puerto Rico net operating loss carry forward | ' | ' | ' | ' | 28,523 | ' | ' |
Net operating loss | ' | ' | ' | ' | $3,285 | ' | ' |
Income_Taxes_US_and_Foreign_Co
Income Taxes - U.S. and Foreign Components of Earnings Before Income Taxes (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components Of Earnings From Continuing Operations Before Income Taxes And Provision For Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' |
U.S. | ' | ' | ' | ' | $62,506 | $17,279 | $13,868 |
Foreign | ' | ' | ' | ' | 474 | -1,147 | -1,468 |
Income (loss) before income tax expense | 26,148 | 35,481 | 17,824 | 17,864 | 62,980 | 16,132 | 12,400 |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Components Of Earnings From Continuing Operations Before Income Taxes And Provision For Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' |
U.S. | ' | ' | ' | ' | 62,841 | 17,615 | 14,226 |
Foreign | ' | ' | ' | ' | 474 | -1,147 | -1,468 |
Income (loss) before income tax expense | $26,241 | $35,569 | $18,019 | $18,045 | $63,315 | $16,468 | $12,758 |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income tax expense at U.S. federal statutory rate | ' | ' | ' | ' | $22,043 | $5,646 | $4,340 |
State and local income taxes, net of federal income tax benefit | ' | ' | ' | ' | 3,585 | 1,541 | 847 |
Book expenses not deductible for tax purposes | ' | ' | ' | ' | 1,351 | 1,058 | 746 |
Stock-based compensation | ' | ' | ' | ' | 65 | 270 | 464 |
Undistributed earnings of Canadian subsidiaries | ' | ' | ' | ' | ' | ' | -4,023 |
Valuation allowance | ' | ' | ' | ' | -1,097 | -331 | 382 |
Rate change | ' | ' | ' | ' | -2,565 | 49 | 1,743 |
Other differences, net | ' | ' | ' | ' | -541 | 9 | 1,043 |
Income tax expense | 10,726 | 12,359 | 7,239 | 5,005 | 22,841 | 8,242 | 5,542 |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Income tax expense at U.S. federal statutory rate | ' | ' | ' | ' | 22,160 | 5,764 | 4,465 |
State and local income taxes, net of federal income tax benefit | ' | ' | ' | ' | 3,601 | 1,557 | 865 |
Book expenses not deductible for tax purposes | ' | ' | ' | ' | 1,351 | 1,058 | 746 |
Stock-based compensation | ' | ' | ' | ' | 65 | 270 | 464 |
Undistributed earnings of Canadian subsidiaries | ' | ' | ' | ' | ' | ' | -4,023 |
Valuation allowance | ' | ' | ' | ' | -1,094 | -354 | 382 |
Rate change | ' | ' | ' | ' | -2,565 | 49 | 1,743 |
Other differences, net | ' | ' | ' | ' | -541 | 9 | 1,195 |
Income tax expense | 10,761 | 12,391 | 7,317 | 5,079 | 22,977 | 8,353 | 5,838 |
Amortization of non-deductible goodwill | ' | ' | ' | ' | ' | ' | $1 |
Income_Taxes_Schedule_of_Effec1
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Parenthetical) (Detail) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Deferred tax benefit related to APB 23 assertion | ' | ' | $4,023 | ' |
Rate change | -2,565 | 49 | 1,743 | ' |
Ontario Bill 114 [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Rate change | ' | 49 | ' | ' |
Change in general corporate income tax rate | 10.00% | 11.00% | ' | ' |
Corporate tax rate | ' | 11.50% | ' | ' |
Puerto Rico [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Corporate Rico tax rate | 39.00% | 30.00% | 30.00% | 39.00% |
Rate change | 2,479 | ' | 1,743 | ' |
British Columbia Bill 2 [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Rate change | 86 | ' | ' | ' |
Change in general corporate income tax rate | 11.00% | 10.00% | ' | ' |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Deferred tax benefit related to APB 23 assertion | ' | ' | 4,023 | ' |
Rate change | -2,565 | 49 | 1,743 | ' |
LAMAR MEDIA CORP [Member] | Ontario Bill 114 [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Corporate Rico tax rate | ' | 11.50% | ' | ' |
Rate change | ' | 49 | ' | ' |
Change in general corporate income tax rate | 10.00% | 11.00% | ' | ' |
LAMAR MEDIA CORP [Member] | Puerto Rico [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Corporate Rico tax rate | 39.00% | 30.00% | 30.00% | 39.00% |
Rate change | 2,479 | ' | 1,743 | ' |
LAMAR MEDIA CORP [Member] | British Columbia Bill 2 [Member] | ' | ' | ' | ' |
Schedule Of Effective Income Tax Rate Reconciliation [Line Items] | ' | ' | ' | ' |
Rate change | $86 | ' | ' | ' |
Change in general corporate income tax rate | 11.00% | 10.00% | ' | ' |
Income_Taxes_Components_of_Def
Income Taxes - Components of Deferred Taxes (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Deferred tax assets: | ' | ' | ' |
Allowance for doubtful accounts | ' | $2,972 | $2,964 |
Accrued liabilities not deducted for tax purposes | ' | 37,764 | 35,580 |
Asset retirement obligation | ' | 70,166 | 65,994 |
Net operating loss carry forwards | ' | 138,865 | 163,597 |
Tax credit carry forwards | ' | 4,844 | 3,765 |
Charitable contributions carry forward | ' | 9 | 592 |
Gross deferred tax assets | ' | 254,620 | 272,492 |
Less: valuation allowance | ' | -2,331 | -3,424 |
Net deferred tax assets | ' | 252,289 | 269,068 |
Deferred tax liabilities: | ' | ' | ' |
Property, plant and equipment | ' | -45,160 | -48,271 |
Intangibles | ' | -314,382 | -308,266 |
Investment in partnerships | ' | -1,519 | -1,244 |
Gross deferred tax liabilities | ' | -361,061 | -357,781 |
Net deferred tax liabilities | ' | -108,772 | -88,713 |
Classification in the consolidated balance sheets: | ' | ' | ' |
Current deferred tax assets | 9,973 | 10,378 | 10,817 |
Current deferred tax liabilities | ' | ' | ' |
Noncurrent deferred tax assets | ' | ' | ' |
Noncurrent deferred tax liabilities | -117,337 | -119,150 | -99,530 |
Net deferred tax liabilities | ' | -108,772 | -88,713 |
LAMAR MEDIA CORP [Member] | ' | ' | ' |
Deferred tax assets: | ' | ' | ' |
Allowance for doubtful accounts | ' | 2,972 | 2,964 |
Accrued liabilities not deducted for tax purposes | ' | 37,764 | 35,580 |
Asset retirement obligation | ' | 70,166 | 65,994 |
Net operating loss carry forwards | ' | 89,496 | 114,361 |
Tax credit carry forwards | ' | 19,615 | 18,537 |
Charitable contributions carry forward | ' | 9 | 592 |
Gross deferred tax assets | ' | 220,022 | 238,028 |
Less: valuation allowance | ' | -1,760 | -2,851 |
Net deferred tax assets | ' | 218,262 | 235,177 |
Deferred tax liabilities: | ' | ' | ' |
Property, plant and equipment | ' | -45,160 | -48,271 |
Intangibles | ' | -313,746 | -307,630 |
Investment in partnerships | ' | -1,519 | -1,244 |
Gross deferred tax liabilities | ' | -360,425 | -357,145 |
Net deferred tax liabilities | ' | -142,163 | -121,968 |
Classification in the consolidated balance sheets: | ' | ' | ' |
Current deferred tax assets | 9,973 | 10,378 | 10,817 |
Current deferred tax liabilities | ' | ' | ' |
Noncurrent deferred tax assets | ' | ' | ' |
Noncurrent deferred tax liabilities | -150,806 | -152,541 | -132,785 |
Net deferred tax liabilities | ' | ($142,163) | ($121,968) |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Reconciliation Of Unrecognized Tax Benefits [Line Items] | ' | ' |
Beginning balance | $75 | $135 |
Additions for tax positions related to current year | 1 | 3 |
Additions for tax positions related to prior years | ' | ' |
Reductions for tax positions related to prior years | ' | ' |
Lapse of statute of limitations | -41 | -63 |
Settlements | ' | ' |
Ending Balance | 35 | 75 |
LAMAR MEDIA CORP [Member] | ' | ' |
Reconciliation Of Unrecognized Tax Benefits [Line Items] | ' | ' |
Beginning balance | 75 | 135 |
Additions for tax positions related to current year | 1 | 3 |
Additions for tax positions related to prior years | ' | ' |
Reductions for tax positions related to prior years | ' | ' |
Lapse of statute of limitations | -41 | -63 |
Settlements | ' | ' |
Ending Balance | $35 | $75 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transaction [Line Items] | ' | ' |
Deferred gains | $85 | $85 |
Receivables from employees | 126 | 57 |
Interest owned in service contract | 26.66% | ' |
Aggregate amount payable under the service contract | 1,538 | ' |
LAMAR MEDIA CORP [Member] | ' | ' |
Related Party Transaction [Line Items] | ' | ' |
Amount payable to parent company | 7,665 | 8,356 |
Amount contributed to affiliate | $37,858 | $26,839 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2012 | Jun. 16, 1999 |
Class of Stock [Line Items] | ' | ' | ' | ' |
Liquidation value of outstanding preferred stock | $3,649 | ' | ' | ' |
Preferred stock voting right | 'Series AA preferred stock is entitled to one vote per share and the Class A preferred stock is not entitled to vote | ' | ' | ' |
Class B common stock voting rights | 'Holders of Class B common stock have ten votes per share on all matters in which the holders of common stock are entitled to vote and holders of Class A common stock have one vote per share on such matters | ' | ' | ' |
Series AA Preferred Stock [Member] | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' |
Preferred stock, shares authorized | 5,720 | 5,720 | 5,720 | 5,720 |
Preferred stock, par value | $0.00 | $0.00 | $0.00 | ' |
Dividends paid to preferred stock | $15.95 | ' | ' | ' |
Amount entitled | $638 | ' | ' | ' |
Preferred Class A [Member] | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' |
Preferred stock, shares authorized | 10,000 | 10,000 | 10,000 | 1,000,000 |
Preferred stock, par value | $638 | $638 | $638 | ' |
Dividends paid to preferred stock | $15.95 | ' | ' | ' |
Amount entitled | $638 | ' | ' | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | 31-May-13 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Shares reserved for issuance to directors and employees | ' | ' | ' | ' | ' | 2,500,000 |
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. | ' | 'Vesting terms ranging from three to five years which primarily includes 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date. | ' | ' | ' |
Accrued expenses, liability | ' | ' | $6,757 | ' | ' | ' |
Period of graded vesting for option valuation | ' | ' | '4 years | ' | ' | ' |
Period of cliff vesting for option valuation | ' | ' | '5 years | ' | ' | ' |
Total unrecognized compensation cost related to nonvested awards | ' | ' | 24,107 | ' | ' | ' |
Weighted average number of years over which compensation cost related to nonvested awards is expected to be recognized | ' | ' | '2 years | ' | ' | ' |
Shares available for future stock option and restricted share grants to employees and directors under existing plans | ' | ' | 2,797,768 | ' | ' | ' |
Aggregate intrinsic value of options outstanding | ' | ' | 62,609 | ' | ' | ' |
Aggregate intrinsic value of options exercisable | ' | ' | 47,085 | ' | ' | ' |
Total intrinsic value of options exercised | ' | ' | 15,362 | ' | ' | ' |
The Company granted options for an aggregate shares of its Class A common stock | ' | ' | 1,807,000 | ' | ' | ' |
Non cash compensation expense | 10,513 | 17,195 | 24,936 | 14,466 | 11,650 | ' |
Performance Based Compensation [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Compensation expense related to performance based compensation agreements | ' | ' | 7,231 | ' | ' | ' |
Non cash compensation expense | 5,341 | ' | ' | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Award vesting period | '3 years | ' | '3 years | ' | ' | ' |
Range of awards of target number of share | 0.00% | ' | 0.00% | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Award vesting period | '5 years | ' | '5 years | ' | ' | ' |
Range of awards of target number of share | 100.00% | ' | 100.00% | ' | ' | ' |
Restricted Stock Award [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Expiration date of options granted under equity incentive plan | '10 years | ' | '10 years | ' | ' | ' |
Term of director | '1 year | ' | ' | ' | ' | ' |
Restricted Stock Award [Member] | Vesting Period First [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Percentage of awards vesting on grant date | 50.00% | ' | ' | ' | ' | ' |
Restricted Stock Award [Member] | Vesting Period Second [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Percentage of awards vesting on grant date | 50.00% | ' | ' | ' | ' | ' |
2009 Employee Stock Purchase Plan [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Shares available for future stock option and restricted share grants to employees and directors under existing plans | 356,853 | ' | 327,689 | 358,950 | ' | ' |
Additional shares reserved under 2009 ESPP | 80,209 | ' | 78,963 | ' | ' | ' |
Common Class A [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Expected Volatility | ' | ' | 75.00% | ' | ' | ' |
Volatility rate on publicly traded options | ' | ' | 25.00% | ' | ' | ' |
The Company granted options for an aggregate shares of its Class A common stock | 51,000 | ' | ' | ' | ' | ' |
Common Class A [Member] | 1996 Equity Incentive Plan [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Shares reserved for issuance to directors and employees | 15,500,000 | ' | 15,500,000 | ' | ' | ' |
Common Class A [Member] | Restricted Stock Award [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
Non cash compensation expense | $192 | ' | ' | ' | ' | ' |
Common Class A [Member] | 2009 Employee Stock Purchase Plan [Member] | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' |
New employee stock purchase plan, which reserved additional shares of common stock | 588,154 | ' | 588,154 | ' | ' | ' |
Employee stock purchase plan, which available for issuance of common stock | 88,154 | ' | 88,154 | ' | ' | ' |
Additional shares reserved under 2009 ESPP | 80,209 | ' | 78,963 | ' | ' | ' |
StockBased_Compensation_Weight
Stock-Based Compensation - Weighted Average Fair Value of Options Granted (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Dividend Yield | 0.00% | 0.00% | 0.00% |
Expected Volatility | 51.00% | 52.00% | 52.00% |
Risk Free Interest Rate | 1.00% | 2.00% | 2.00% |
Expected Lives | '6 years | '5 years | '5 years |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Option Transactions Under Various Stock-Based Employee Compensation Plans (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Outstanding, Beginning Balance, Shares | 2,124,886 | ' | ' |
Granted, Shares | 1,807,000 | ' | ' |
Exercised, Shares | -682,263 | -586,563 | -113,359 |
Canceled, Shares | -17,200 | ' | ' |
Outstanding, Ending Balance, Shares | 3,232,423 | 2,124,886 | ' |
Exercisable, Ending Balance, Shares | 1,737,823 | ' | ' |
Outstanding, Beginning Balance, Weighted Average Exercise Price | $22.36 | ' | ' |
Granted, Weighted Average Exercise Price | $42.31 | ' | ' |
Exercised, Weighted-Average Exercise Price | $24.90 | ' | ' |
Canceled, Weighted Average Exercise Price | $38.73 | ' | ' |
Outstanding, Ending Balance, Weighted Average Exercise Price | $32.89 | $22.36 | ' |
Exercisable, Ending Balance, Weighted Average Exercise Price | $25.16 | ' | ' |
Outstanding, Ending balance, Weighted Average Remaining Contractual Term | '7 years 4 months 13 days | ' | ' |
Exercisable, Ending Balance, Weighted Average Remaining Contractual Term | '5 years 11 months 12 days | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Espp Share Activity (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Available for future purchases, end of period | ' | 2,797,768 |
2009 Employee Stock Purchase Plan [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Available for future purchases, beginning of period | 327,689 | 358,950 |
Additional shares reserved under 2009 ESPP | 80,209 | 78,963 |
Purchases | -51,045 | -110,224 |
Available for future purchases, end of period | 356,853 | 327,689 |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Letters of credit with bank | $6,751 | ' | ' |
Employees eligibility | 'Completed one year of service and are at least 21 years of age. | ' | ' |
Minimum years of service required to participate in Company sponsored saving and profit sharing plan | '1 year | ' | ' |
Minimum age required to participate in Company sponsored saving and profit sharing plan | 21 | ' | ' |
Employers contribution and compensation | 'Match 50% of employees' contributions up to 5% of eligible compensation. | ' | ' |
Employers contribution as percentage of employees contribution | 50.00% | ' | ' |
Employers contribution as percentage of employees compensation | 5.00% | ' | ' |
Employees contribution limit | 100.00% | ' | ' |
Fully vesting period of contribution | '3 years | ' | ' |
Minimum age for entitlement to benefit of deferred compensation plan | 30 | ' | ' |
Minimum years of experience to attain the benefit of deferred compensation plan | '10 years | ' | ' |
Deferred compensation arrangement with individual employees contribution minimum | 3 | ' | ' |
Deferred compensation arrangement with individual employees contribution maximum | 8 | ' | ' |
Deferred Profit Sharing [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Employer's contribution | 3,581 | 3,184 | 2,870 |
Deferred Compensation Plan [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' |
Employer's contribution | $1,323 | $1,260 | $1,223 |
Summarized_Financial_Informati1
Summarized Financial Information of Subsidiaries - Additional Information (Detail) (USD $) | 6 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Debt Instrument [Line Items] | ' | ' | ' |
Balance of permitted transfers to parent company | $2,180,374 | $2,072,542 | $1,706,875 |
Description of provisions on senior credit facility transfers to Lamar Advertising | 'The total debt ratio is equal to or greater than 6.0 to 1 or (ii) the senior debt ratio is equal to or greater than 3.5 to 1. | 'The total holdings debt ratio is greater than 5.75 to 1 or (y) the senior debt ratio is greater than 3.25 to 1.0. | ' |
Debt ratio | 6 | 5.75 | ' |
Senior debt ratio | ' | 3.25 | ' |
Description of actual position on senior credit facility transfers to Lamar Advertising not subject to additional restrictions | 'The total debt ratio was less than 6.0 to 1 and Lamar Media's senior debt ratio was less than 3.50 to 1; therefore, dividends or distributions to Lamar Advertising were not subject to any additional restrictions under the senior credit facility. | 'The total holdings debt ratio was less than 5.75 to 1 and Lamar Media's senior debt ratio was less than 3.25 to 1; therefore, transfers to Lamar Advertising were not subject to any additional restrictions under the senior credit facility. | ' |
Debt ratio related to actual position on senior credit facility | 6 | 5.75 | ' |
Senior Credit Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Senior debt ratio | 3.5 | 3.25 | ' |
Senior Subordinated Notes [Member] | Maximum [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Senior debt ratio | 3.5 | 3.25 | ' |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Estimated fair value of Long-term debt (including current maturities) | $1,982,661 | $1,948,040 |
Gross amount of company long term debt | 1,927,867 | 1,938,802 |
Carrying amount of company's long term debt | $1,927,867 | $1,938,802 |
Quarterly_Financial_Data_Summa
Quarterly Financial Data - Summary of Quarterly Financial Data (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $330,433 | $320,352 | $321,141 | $327,744 | $276,605 | $306,639 | $309,526 | $301,106 | $262,465 | $615,366 | $604,349 | $1,245,842 | $1,179,736 | $1,130,714 |
Net revenues less direct advertising expenses | ' | 210,390 | 211,501 | 217,021 | 170,086 | 200,440 | 205,681 | 196,035 | 159,042 | ' | ' | ' | ' | ' |
Net (loss) income applicable to common stock | 15,331 | 10,094 | 17,003 | 23,031 | -10,354 | 7,819 | 13,381 | 11,534 | -25,209 | 10,403 | 12,677 | 39,774 | 7,525 | 6,493 |
Net (loss) income | 15,422 | ' | ' | 23,122 | ' | ' | ' | ' | ' | 10,585 | 12,859 | 40,139 | 7,890 | 6,858 |
Net (loss) income per common share basic | $0.16 | $0.11 | $0.18 | $0.24 | ($0.11) | $0.08 | $0.14 | $0.13 | ($0.27) | $0.11 | $0.13 | $0.42 | $0.08 | $0.07 |
Net (loss) income per common share - diluted | $0.16 | $0.11 | $0.18 | $0.24 | ($0.11) | $0.08 | $0.14 | $0.13 | ($0.27) | $0.11 | $0.13 | $0.42 | $0.08 | $0.07 |
Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | 323,184 | 324,684 | 283,479 | 305,505 | 306,286 | 304,872 | 266,238 | ' | ' | ' | ' | ' |
Net revenues less direct advertising expenses | ' | ' | 213,544 | 213,961 | 176,960 | 199,306 | 202,441 | 199,801 | 162,815 | ' | ' | ' | ' | ' |
Net (loss) income applicable to common stock | ' | ' | 18,249 | 21,164 | -6,161 | 7,127 | 11,405 | 13,831 | -22,907 | ' | ' | ' | ' | ' |
Net (loss) income per common share basic | ' | ' | $0.09 | $0.22 | ($0.07) | $0.08 | $0.12 | $0.15 | ($0.25) | ' | ' | ' | ' | ' |
Net (loss) income per common share - diluted | ' | ' | $0.09 | $0.22 | ($0.07) | $0.08 | $0.12 | $0.15 | ($0.25) | ' | ' | ' | ' | ' |
LAMAR MEDIA CORP [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | 330,433 | 320,352 | 321,141 | 327,744 | 276,605 | 306,639 | 309,526 | 301,106 | 262,465 | 615,366 | 604,349 | 1,245,842 | 1,179,736 | 1,130,714 |
Net revenues less direct advertising expenses | ' | 210,390 | 211,501 | 217,021 | 170,086 | 200,440 | 205,681 | 196,035 | 159,042 | ' | ' | ' | ' | ' |
Net (loss) income | 15,480 | 10,228 | 17,144 | 23,178 | -10,212 | 7,986 | 13,561 | 11,695 | -25,127 | 10,702 | 12,966 | 40,338 | 8,115 | 6,920 |
LAMAR MEDIA CORP [Member] | Previously Reported [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interim Reporting [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | 323,184 | 324,684 | 283,479 | 305,505 | 306,286 | 304,872 | 266,238 | ' | ' | ' | ' | ' |
Net revenues less direct advertising expenses | ' | ' | 213,544 | 213,961 | 176,960 | 199,306 | 202,441 | 199,801 | 162,815 | ' | ' | ' | ' | ' |
Net (loss) income | ' | ' | $18,390 | $21,311 | ($6,019) | $7,294 | $11,585 | $13,992 | ($22,825) | ' | ' | ' | ' | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||
In Thousands, unless otherwise specified | Apr. 18, 2014 | Jun. 30, 2014 | Apr. 18, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 03, 2014 | Jan. 10, 2014 | Jan. 10, 2014 | Dec. 31, 2013 | Feb. 03, 2014 | Feb. 03, 2014 |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Incremental Facility [Member] | Incremental Facility [Member] | Senior Credit Facility [Member] | ||||||
5 3/8% Senior Notes [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount of Senior Notes | ' | $1,927,867 | ' | $1,938,802 | $2,160,854 | ' | ' | $510,000 | ' | ' | ' |
Proceeds received on 5 3/8% Senior Subordinated Notes | ' | ' | ' | ' | ' | ' | 502,300 | ' | ' | ' | ' |
Interest rate on convertible notes | ' | ' | 7.88% | ' | ' | ' | ' | 5.38% | ' | ' | ' |
Increase in revolving line of credit Facility | ' | ' | ' | $250,000 | ' | $400,000 | ' | ' | $300,000 | $500,000 | ' |
Amended and restated date | 18-Apr-14 | ' | ' | ' | ' | 9-Feb-12 | ' | ' | ' | ' | 3-Feb-14 |
Revolving credit facility maturity date | ' | ' | ' | ' | ' | 2-Feb-19 | ' | ' | ' | ' | ' |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | $7,615 | $7,500 | $8,100 |
Charged to Costs and Expenses | 6,034 | 5,484 | 7,591 |
Deductions | 6,034 | 5,369 | 8,191 |
Balance at End of Period | 7,615 | 7,615 | 7,500 |
Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | 7,615 | 7,500 | 8,100 |
Charged to Costs and Expenses | 6,034 | 5,484 | 7,591 |
Deductions | 6,034 | 5,369 | 8,191 |
Balance at End of Period | 7,615 | 7,615 | 7,500 |
Deducted in balance sheet from intangible assets: Amortization of intangible assets [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | 1,794,415 | 1,705,402 | 1,602,723 |
Charged to Costs and Expenses | 106,533 | 102,941 | 102,679 |
Deductions | 922 | 13,928 | ' |
Balance at End of Period | 1,900,026 | 1,794,415 | 1,705,402 |
Deducted in balance sheet from intangible assets: Amortization of intangible assets [Member] | LAMAR MEDIA CORP [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | 1,793,476 | 1,704,492 | 1,601,843 |
Charged to Costs and Expenses | 106,533 | 102,941 | 102,649 |
Deductions | 929 | 13,957 | ' |
Balance at End of Period | $1,899,080 | $1,793,476 | $1,704,492 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
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 |
Debt_Schedule_of_Maturities_of
Debt - Schedule of Maturities of Long Term Debt (Detail) (USD $) | 6 Months Ended |
Jun. 30, 2014 | |
September 30, 2014-March 31, 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Amount | $3,750,000 |
June 30, 2016- March 31, 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Amount | 5,625,000 |
June 30, 2017-December 31, 2018 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Amount | 11,250,000 |
Term A Loan Maturity Date [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Amount | $168,750,000 |
Debt_Schedule_of_Maturities_of1
Debt - Schedule of Maturities of Long Term Debt (Parenthetical) (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
September 30, 2014-March 31, 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2014-09-30-2016-03-31 |
June 30, 2016- March 31, 2017 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2016-06-30 - 2017-03-31 |
June 30, 2017-December 31, 2018 [Member] | ' |
Debt Instrument [Line Items] | ' |
Principal Payment Date | '2017-06-30 - 2018-12-31 |
Adjustments_to_Previously_Repo1
Adjustments to Previously Reported Amounts - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Adjustments For Change In Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction of net revenue | $330,433 | $320,352 | $321,141 | $327,744 | $276,605 | $306,639 | $309,526 | $301,106 | $262,465 | $615,366 | $604,349 | $1,245,842 | $1,179,736 | $1,130,714 |
Reduction of net Income | 15,422 | ' | ' | 23,122 | ' | ' | ' | ' | ' | 10,585 | 12,859 | 40,139 | 7,890 | 6,858 |
Adjusted [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustments For Change In Accounting Principle [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction of net revenue | ' | ' | ' | 3,060 | ' | ' | ' | ' | ' | ' | -3,814 | ' | ' | ' |
Reduction of net Income | ' | ' | ' | $1,867 | ' | ' | ' | ' | ' | ' | ($2,326) | ' | ' | ' |
Decrease in basic and diluted earning per share | ' | ' | ' | $0.02 | ' | ' | ' | ' | ' | ' | ($0.03) | ' | ' | ' |
Distributions_Additional_Infor
Distributions - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Dividends [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Cash dividends declared per share common stock , Amount | ' | ' | $79,013 | ' | ' | ' | ' |
Cash dividends declared per share common stock | $0.83 | ' | $0.83 | ' | ' | ' | ' |
Cash dividends declared to stockholders, Percentage | ' | ' | 90.00% | ' | ' | ' | ' |
Cash dividends declared and paid on preferred stock | 91,000 | 91,000 | 182,000 | 182,000 | 365,000 | 365,000 | 365,000 |
Series AA Preferred Stock [Member] | ' | ' | ' | ' | ' | ' | ' |
Dividends [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Cash dividends declared and paid on preferred stock | ' | ' | $182,000 | ' | ' | ' | ' |
Cash dividends declared per share preferred stock | ' | ' | $31.90 | ' | ' | ' | ' |
Information_about_Geographic_A1
Information about Geographic Areas - Additional Information (Detail) (External Customers [Member], USD $) | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
External Customers [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Revenue from external customers | $16,106 | $15,988 | ' |
Net carrying value of long lived assets | $8,027 | ' | $8,838 |