Lamar Advertising (LAMR) 10-Q 8 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 01, 2018
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	LAMR
Entity Registrant Name	LAMAR ADVERTISING CO/NEW
Entity Central Index Key	1,090,425
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		84,408,162
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,420,085
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Entity Registrant Name	LAMAR MEDIA CORP/DE
Entity Central Index Key	899,045
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Class Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		100

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 19,588	$ 115,471
Receivables, net of allowance for doubtful accounts	228,381	201,699
Prepaid lease expenses	75,897	51,074
Other current assets	57,823	52,275
Total current assets	381,689	420,519
Property, plant and equipment	3,395,023	3,384,723
Less accumulated depreciation and amortization	(2,202,405)	(2,170,585)
Net property, plant and equipment	1,192,618	1,214,138
Goodwill	1,737,357	1,740,454
Intangible assets	753,920	796,348
Other assets	54,386	42,886
Total assets	4,119,970	4,214,345
Current liabilities:
Trade accounts payable	18,913	17,961
Current maturities of long-term debt, net of deferred financing costs	23,945	17,664
Accrued expenses	98,295	197,675
Deferred income	116,882	92,694
Total current liabilities	258,035	325,994
Long-term debt, net of deferred financing costs	2,540,955	2,539,026
Deferred income tax liabilities	1,396	884
Asset retirement obligation	215,397	215,089
Other liabilities	30,667	29,859
Total liabilities	3,046,450	3,110,852
Stockholders’ equity:
Additional paid-in capital	1,801,481	1,762,499
Accumulated comprehensive income	482	1,302
Accumulated deficit	(703,130)	(639,106)
Cost of shares held in treasury, 388,903 and 331,284 shares at 2018 and 2017, respectively	(25,412)	(21,300)
Stockholders’ equity	1,073,520	1,103,493
Total liabilities and stockholders’ equity	4,119,970	4,214,345
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Current assets:
Cash and cash equivalents	19,088	114,971
Receivables, net of allowance for doubtful accounts	228,381	201,699
Prepaid lease expenses	75,897	51,074
Other current assets	57,823	52,275
Total current assets	381,189	420,019
Property, plant and equipment	3,395,023	3,384,723
Less accumulated depreciation and amortization	(2,202,405)	(2,170,585)
Net property, plant and equipment	1,192,618	1,214,138
Goodwill	1,727,205	1,730,303
Intangible assets	753,453	795,879
Other assets	48,848	37,603
Total assets	4,103,313	4,197,942
Current liabilities:
Trade accounts payable	18,913	17,961
Current maturities of long-term debt, net of deferred financing costs	23,945	17,664
Accrued expenses	93,911	193,667
Deferred income	116,882	92,694
Total current liabilities	253,651	321,986
Long-term debt, net of deferred financing costs	2,540,955	2,539,026
Deferred income tax liabilities	1,396	884
Asset retirement obligation	215,397	215,089
Other liabilities	30,667	29,859
Total liabilities	3,042,066	3,106,844
Stockholders’ equity:
Additional paid-in capital	2,871,668	2,832,940
Accumulated comprehensive income	482	1,302
Accumulated deficit	(1,810,903)	(1,743,144)
Stockholders’ equity	1,061,247	1,091,098
Total liabilities and stockholders’ equity	4,103,313	4,197,942
Series AA Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value	0	0
Common Class B [Member]
Stockholders’ equity:
Common stock, value	14	14
Common Class A [Member]
Stockholders’ equity:
Common stock, value	$ 85	$ 84

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Allowance for doubtful accounts	$ 11,228	$ 10,055
Current deferred financing costs	4,787	5,133
Noncurrent deferred financing costs	$ 22,229	$ 23,586
Shares held in treasury	388,903	331,284
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Allowance for doubtful accounts	$ 11,228	$ 10,055
Current deferred financing costs	4,787	5,133
Noncurrent deferred financing costs	$ 22,229	$ 23,586
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000	3,000
Common stock, shares issued	100	100
Common stock, shares outstanding	100	100
Series AA Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, cumulative dividends	$ 63.80	$ 63.80
Preferred stock, shares authorized	5,720	5,720
Preferred stock, shares issued	5,720	5,720
Preferred stock, shares outstanding	5,720	5,720
Common Class A [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	362,500,000	362,500,000
Common stock, shares issued	84,793,860	84,169,118
Common stock, shares outstanding	84,404,957	83,837,834
Common Class B [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	37,500,000	37,500,000
Common stock, shares issued	14,420,085	14,420,085
Common stock, shares outstanding	14,420,085	14,420,085

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net revenues	$ 419,800	$ 397,078	$ 780,826	$ 743,440
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	$ 140,784	$ 135,075	$ 279,077	$ 266,919
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization)	$ 69,686	$ 65,921	$ 139,894	$ 137,952
Corporate expenses (exclusive of depreciation and amortization)	20,147	16,730	41,251	33,363
Depreciation and amortization	55,322	51,782	112,162	103,207
(Gain) loss on disposition of assets	(1,843)	(607)	6,858	(1,643)
Total Operating Expenses	284,096	268,901	579,242	539,798
Operating income	135,704	128,177	201,584	203,642
Other expense (income)
Loss on extinguishment of debt		71	15,429	71
Interest income	(132)		(156)	(4)
Interest expense	31,892	31,979	65,471	63,462
Non-operating (Income) Expenses	31,760	32,050	80,744	63,529
Income before income tax expense	103,944	96,127	120,840	140,113
Income tax expense	3,513	3,733	5,357	5,932
Net income	100,431	92,394	115,483	134,181
Cash dividends declared and paid on preferred stock	91	91	182	182
Net income applicable to common stock	$ 100,340	$ 92,303	$ 115,301	$ 133,999
Earnings per share:
Basic earnings per share	$ 1.02	$ 0.94	$ 1.17	$ 1.37
Diluted earnings per share	1.02	0.94	1.17	1.36
Cash dividends declared per share of common stock	$ 0.91	$ 0.83	$ 1.82	$ 1.66
Weighted average common shares used in computing earnings per share:
Weighted average common shares outstanding basic	98,532,110	97,941,766	98,417,467	97,759,636
Weighted average common shares outstanding diluted	98,834,588	98,442,860	98,725,475	98,276,283
Statements of Comprehensive Income
Net income	$ 100,431	$ 92,394	$ 115,483	$ 134,181
Other comprehensive (loss) income
Foreign currency translation adjustments	(277)	745	(820)	888
Comprehensive income	100,154	93,139	114,663	135,069
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Net revenues	$ 419,800	$ 397,078	$ 780,826	$ 743,440
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	$ 140,784	$ 135,075	$ 279,077	$ 266,919
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization)	$ 69,686	$ 65,921	$ 139,894	$ 137,952
Corporate expenses (exclusive of depreciation and amortization)	20,058	16,645	41,056	33,172
Depreciation and amortization	55,322	51,782	112,162	103,207
(Gain) loss on disposition of assets	(1,843)	(607)	6,858	(1,643)
Total Operating Expenses	284,007	268,816	579,047	539,607
Operating income	135,793	128,262	201,779	203,833
Other expense (income)
Loss on extinguishment of debt		71	15,429	71
Interest income	(132)		(156)	(4)
Interest expense	31,892	31,979	65,471	63,462
Non-operating (Income) Expenses	31,760	32,050	80,744	63,529
Income before income tax expense	104,033	96,212	121,035	140,304
Income tax expense	3,513	3,733	5,357	5,932
Net income	100,520	92,479	115,678	134,372
Statements of Comprehensive Income
Net income	100,520	92,479	115,678	134,372
Other comprehensive (loss) income
Foreign currency translation adjustments	(277)	745	(820)	888
Comprehensive income	$ 100,243	$ 93,224	$ 114,858	$ 135,260

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income	$ 115,483	$ 134,181
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	112,162	103,207
Stock-based compensation	14,121	5,043
Amortization included in interest expense	2,448	2,623
Loss (gain) on disposition of assets and investments	6,858	(1,643)
Loss on extinguishment of debt	15,429	71
Deferred tax expense	437	30
Provision for doubtful accounts	3,940	3,396
(Increase) decrease in:
Receivables	(30,891)	(32,205)
Prepaid lease expenses	(25,717)	(25,949)
Other assets	(4,559)	(7,265)
Increase (decrease) in:
Trade accounts payable	908	308
Accrued expenses	(16,956)	(8,856)
Other liabilities	22,121	21,812
Net cash provided by operating activities	215,784	194,753
Cash flows from investing activities:
Acquisitions	(16,165)	(28,101)
Capital expenditures	(52,473)	(47,836)
Proceeds received from property insurance claims	3,804
Proceeds from disposition of assets and investments	3,407	2,566
Decrease of notes receivable	5	11
Net cash used in investing activities	(61,422)	(73,360)
Cash flows from financing activities:
Cash used for purchase of treasury stock	(4,112)	(8,997)
Net proceeds from issuance of common stock	25,723	17,196
Principal payments on long term debt	(12,911)	(5,625)
Payment on revolving credit facility	(270,000)	(334,000)
Proceeds received from revolving credit facility	190,000	182,000
Redemption of senior subordinated notes	(509,790)
Payment on senior credit facility term loans		(247,500)
Proceeds received from senior credit facility term loans	599,250	450,000
Debt issuance costs	(6,349)	(4,899)
Distributions to non-controlling interest	(241)	(310)
Dividends/distributions	(261,132)	(162,702)
Net cash used in financing activities	(249,562)	(114,837)
Effect of exchange rate changes in cash and cash equivalents	(683)	798
Net (decrease) increase in cash and cash equivalents	(95,883)	7,354
Cash and cash equivalents at beginning of period	115,471	35,530
Cash and cash equivalents at end of period	19,588	42,884
Supplemental disclosures of cash flow information:
Cash paid for interest	74,352	60,346
Cash paid for foreign, state and federal income taxes	5,660	7,753
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net income	115,678	134,372
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	112,162	103,207
Stock-based compensation	14,121	5,043
Amortization included in interest expense	2,448	2,623
Loss (gain) on disposition of assets and investments	6,858	(1,643)
Loss on extinguishment of debt	15,429	71
Deferred tax expense	437	30
Provision for doubtful accounts	3,940	3,396
(Increase) decrease in:
Receivables	(30,891)	(32,205)
Prepaid lease expenses	(25,717)	(25,949)
Other assets	(4,549)	(7,265)
Increase (decrease) in:
Trade accounts payable	908	308
Accrued expenses	(16,956)	(8,856)
Other liabilities	8,373	428
Net cash provided by operating activities	202,241	173,560
Cash flows from investing activities:
Acquisitions	(16,165)	(28,101)
Capital expenditures	(52,473)	(47,836)
Proceeds received from property insurance claims	3,804
Proceeds from disposition of assets and investments	3,407	2,566
Decrease of notes receivable	5	11
Net cash used in investing activities	(61,422)	(73,360)
Cash flows from financing activities:
Principal payments on long term debt	(12,911)	(5,625)
Payment on revolving credit facility	(270,000)	(334,000)
Proceeds received from revolving credit facility	190,000	182,000
Redemption of senior subordinated notes	(509,790)
Payment on senior credit facility term loans		(247,500)
Proceeds received from senior credit facility term loans	599,250	450,000
Debt issuance costs	(6,349)	(4,899)
Distributions to non-controlling interest	(241)	(310)
Contributions from parent	38,992	38,207
Dividend to parent	(264,970)	(171,517)
Net cash used in financing activities	(236,019)	(93,644)
Effect of exchange rate changes in cash and cash equivalents	(683)	798
Net (decrease) increase in cash and cash equivalents	(95,883)	7,354
Cash and cash equivalents at beginning of period	114,971	35,030
Cash and cash equivalents at end of period	19,088	42,384
Supplemental disclosures of cash flow information:
Cash paid for interest	74,352	60,346
Cash paid for foreign, state and federal income taxes	$ 5,660	$ 7,753

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Significant Accounting Policies	1. Significant Accounting Policies The information included in the foregoing interim condensed consolidated financial statements is unaudited. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company’s financial position and results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. These interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and the notes thereto included in the 2017 Combined Form 10-K. Subsequent events, if any, are evaluated through the date on which the financial statements are issued.
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Significant Accounting Policies	1. Significant Accounting Policies The information included in the foregoing interim condensed consolidated financial statements is unaudited. In the opinion of management all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of Lamar Media’s financial position and results of operations for the interim periods presented have been reflected herein. The results of operations for interim periods are not necessarily indicative of the results to be expected for the entire year. These interim condensed consolidated financial statements should be read in conjunction with Lamar Media’s consolidated financial statements and the notes thereto included in the 2017 Combined Form 10-K. Certain notes are not provided for the accompanying condensed consolidated financial statements as the information in notes 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 13 and 15 to the condensed consolidated financial statements of Lamar Advertising included elsewhere in this report is substantially equivalent to that required for the condensed consolidated financial statements of Lamar Media. Earnings per share data is not provided for Lamar Media, as it is a wholly owned subsidiary of the Company.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Revenues	2. Revenues On January 1, 2018, we adopted FASB Accounting Standards Update (“ASU”) No. 2014-09 (Codified as ASC 606), Revenue from Contracts with Customers Leases A majority of our billboard, logo, and transit space contracts are accounted for under ASC 840 and will continue to be accounted for under the topic until January 1, 2019, our adoption date of FASB Accounting Standards Update (“ASU”) No. 2016-02 (Codified as ASC 842), Leases Revenue Revenue Recognition Advertising revenues : The majority of our revenues are derived from contracts for advertising space on billboard, logo and transit displays and are currently accounted for under ASC 840, . Upon the Company’s adoption of ASC 842, the majority of our contracts for advertising space will transition to being accounted for under ASC 606, The contract revenues, under ASC 840, and ASC 606, , are recognized ratably over their contract life. Other revenues: Our other component of revenue primarily consists of production services which includes creating and printing the advertising copy. As of January 1, 2018 revenue for production contracts is recognized under ASC 606. Contract revenues for production services are recognized upon satisfaction of the contract which is typically less than one week. Arrangements with multiple performance obligations: Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on the relative standalone selling price. We determine standalone selling prices based on the prices charged to customers using expected cost plus margin. Deferred revenues: We record deferred revenues when cash payments are received or due in advance of our performance obligation. The term between invoicing and when a payment is due is not significant. For certain services we require payment before the product or services are delivered to the customer. The balance of deferred income is considered short-term and will be recognized in revenue within twelve months. Practical expedients and exemptions: Upon our transition to ASC 606 from ASC 840, the Company plans to utilize the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within direct advertising expense (exclusive of depreciation and amortization). We do not disclose the value of unsatisfied performance obligations as the majority of our contracts with customers have an original expected length of less than one year. For contracts with customers which exceed one year, the future amount to be invoiced to the customer corresponds directly with the value to be received by the customer. The following table presents our disaggregated revenue by source including both revenues accounted for under ASC 840 and ASC 606 for the three and six months ended June 30, 2018 and June 30, 2017. Three months ended June 30, Six months ended June 30, 2018 2017 2018 2017 Billboard Advertising $ 365,367 $ 348,426 $ 678,170 $ 649,611 Logo Advertising 21,378 20,758 42,007 41,087 Transit Advertising 33,055 27,894 60,649 52,742 Net Revenues $ 419,800 $ 397,078 $ 780,826 $ 743,440

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	3. Stock-Based Compensation 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 and highly subjective assumptions, including expected term and expected volatility. The Company granted options for an aggregate of 59,000 shares of its Class A common stock during the six months ended June 30, 2018. At June 30, 2018 a total of 1,014,815 shares were available for future grant. Stock Purchase Plan. Lamar Advertising’s 2009 Employee Stock Purchase Plan or 2009 ESPP was approved by our shareholders on May 28, 2009. The number of shares of Class A common stock available under the 2009 ESPP was automatically increased by 83,838 shares on January 1, 2018 pursuant to the automatic increase provisions of the 2009 ESPP. The following is a summary of 2009 ESPP share activity for the six months ended June 30, 2018: Shares Available for future purchases, January 1, 2018 225,418 Additional shares reserved under 2009 ESPP 83,838 Purchases (68,379 ) Available for future purchases, June 30, 2018 240,877 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 2018 results. Any shares issued based on the achievement of performance goals will be issued in the first quarter of 2019. 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, 2018, the Company has recorded $11,954 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 $278 stock-based compensation expense related to these awards for the six months ended June 30, 2018.

Depreciation and Amortization

Depreciation and Amortization	6 Months Ended
	Jun. 30, 2018
Depreciation And Amortization [Abstract]
Depreciation and Amortization	4. Depreciation and Amortization The Company includes all categories of depreciation and amortization on a separate line in its Statements of Income and Comprehensive Income. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statements of Income and Comprehensive Income are: Three months ended June 30, Six months ended June 30, 2018 2017 2018 2017 Direct advertising expenses $ 51,457 $ 48,685 $ 104,473 $ 97,003 General and administrative expenses 1,012 972 2,007 1,902 Corporate expenses 2,853 2,125 5,682 4,302 $ 55,322 $ 51,782 $ 112,162 $ 103,207

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	5. Goodwill and Other Intangible Assets The following is a summary of intangible assets at June 30, 2018 and December 31, 2017: Estimated June 30, 2018 December 31, 2017 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer lists and contracts 7—10 $ 578,003 $ 505,760 $ 586,055 $ 505,778 Non-competition agreements 3—15 65,561 64,004 65,477 63,924 Site locations 15 2,053,107 1,386,852 2,072,059 1,372,954 Other 2—15 45,854 31,989 45,741 30,328 $ 2,742,525 $ 1,988,605 $ 2,769,332 $ 1,972,984 Unamortizable intangible assets: Goodwill $ 1,990,893 $ 253,536 $ 1,993,990 $ 253,536

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	6. Asset Retirement Obligations The Company’s asset retirement obligations include the costs associated with the removal of its structures, resurfacing of the land and retirement cost, if applicable, related to the Company’s outdoor advertising portfolio. The following table reflects information related to our asset retirement obligations: Balance at December 31, 2017 $ 215,089 Additions to asset retirement obligations 340 Accretion expense 2,261 Liabilities settled (2,293 ) Balance at June 30, 2018 $ 215,397

Distribution Restrictions

Distribution Restrictions	6 Months Ended
	Jun. 30, 2017
Distribution Restrictions [Abstract]
Distribution Restrictions	7. Distribution Restrictions Lamar Media’s ability to make distributions to Lamar Advertising is restricted under both the terms of the indentures relating to Lamar Media’s outstanding notes and by the terms of its senior credit facility. As of June 30, 2018 and December 31, 2017, 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 $2,987,145 and $2,975,593, respectively. As of June 30, 2018, Lamar Media’s senior credit facility allows it to make transfers to Lamar Advertising in any taxable year up to the amount of Lamar Advertising’s taxable income (without any deduction for dividends paid). In addition, as of June 30, 2018, transfers to Lamar Advertising are permitted under Lamar Media’s senior credit facility and as defined therein up to the available cumulative credit, as long as no default has occurred and is continuing and, after giving effect to such distributions, (i) the total debt ratio is less than 6.5 to 1 and (ii) the secured debt ratio does not exceed 3.5 to 1. As of June 30, 2018, the total debt ratio was less than 6.5 to 1 and Lamar Media’s secured debt ratio was less than 3.5 to 1, and the available cumulative credit was $1,737,624.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	8. 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, 2018 or 2017.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Long-term Debt	9. Long-term Debt Long-term debt consists of the following at June 30, 2018 and December 31, 2017: June 30, 2018 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,143,285 $ 12,851 $ 1,130,434 5% Senior Subordinated Notes 535,000 4,521 530,479 5 3/8% Senior Notes 510,000 4,627 505,373 5 3/4% Senior Notes 400,000 5,017 394,983 Other notes with various rates and terms 3,631 — 3,631 2,591,916 27,016 2,564,900 Less current maturities (28,732 ) (4,787 ) (23,945 ) Long-term debt, excluding current maturities $ 2,563,184 $ 22,229 $ 2,540,955 December 31, 2017 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 636,750 $ 7,689 $ 629,061 5 7/8% Senior Subordinated Notes 500,000 5,850 494,150 5% Senior Subordinated Notes 535,000 4,927 530,073 5 3/8% Senior Notes 510,000 4,982 505,018 5 3/4% Senior Notes 400,000 5,271 394,729 Other notes with various rates and terms 3,659 — 3,659 2,585,409 28,719 2,556,690 Less current maturities (22,797 ) (5,133 ) (17,664 ) Long-term debt, excluding current maturities $ 2,562,612 $ 23,586 $ 2,539,026 Senior Credit Facility On March 16, 2018, Lamar Media Corp. entered into Amendment No. 1 (“Amendment No. 1”) to the Third Amended and Restated Credit Agreement dated May 15, 2017, 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 the existing senior credit facility to establish a new $600,000 Term B Loan Facility (the “Term B loan”), which will mature on March 16, 2025. The Term B loan began amortizing on June 30, 2018 in equal quarterly installments of $1,500 with the remainder payable at maturity. Lamar borrowed the full amount of the Term B loan on March 16, 2018. The proceeds from the Term B loan, together with available cash on hand were used to redeem in full Lamar Media’s 5 7/8% Senior Subordinated Notes due 2022 (the “5 7/8% Notes”). Lamar Media’s Third Amended and Restated Credit Agreement dated as of May 15, 2017 (as amended by Amendment No. 1, the “senior credit facility”) consists of (i) a $450,000 senior secured revolving credit facility which will mature on May 15, 2022, (ii) a $450,000 Term A loan facility (the “Term A loans” and together with the Term B loans, the “Term loans”) which will mature on May 15, 2022, (iii) the Term B loans and (iv) an incremental facility pursuant to which Lamar Media may incur additional term loan tranches or increase its revolving credit facility subject to pro forma compliance with the secured debt ratio financial maintenance covenant. Under the senior credit facility Lamar Media borrowed all $450,000 in Term A loans on May 15, 2017. The net proceeds, together with borrowing under the revolving portion of senior credit facility and cash on hand, were used to repay all outstanding amounts under the existing senior credit facility, and all revolving commitments under that facility were terminated. The Term A loans mature on May 15, 2022 and the Term B loans mature on March 16, 2025. The remaining quarterly installments are scheduled to be paid on each June 30, September 30, December 31, and March 31 as follows: Principal Payment Date Term A Term B September 30, 2018-June 30, 2019 $ 5,625 $ 1,500 September 30, 2019-June 30, 2020 $ 8,438 $ 1,500 September 30, 2020-March 31, 2022 $ 16,875 $ 1,500 Term A Loan Maturity Date $ 253,125 $ — June 30, 2022-December 31, 2024 $ — $ 1,500 Term B Loan Maturity Date $ — $ 559,500 The Term loans bear interest at rates based on the Adjusted LIBO Rate (“Eurodollar term loans”) or the Adjusted Base Rate (“Base Rate term loans”), at Lamar Media’s option. Eurodollar term loans bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 1.75%; (or the Adjusted LIBO Rate plus 1.50% at any time the Total Debt Ratio is less than or equal to 3.25 to 1 for Term A loans only). Base Rate term loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 0.75% (or the Adjusted Base Rate plus 0.50% at any time the Total Debt Ratio is less than or equal to 3.25 to 1 for Term A loans only). The revolving credit facility bears interest at rates based on the Adjusted LIBO Rate (“Eurodollar revolving loans”) or the Adjusted Base Rate (“Base Rate revolving loans”), at Lamar Media’s option. Eurodollar revolving loans bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 2.25% (or the Adjusted LIBO Rate plus 2.00% at any time the Total Debt Ratio is less than or equal to 4.25 to 1; 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 revolving Loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 1.25% (or the Adjusted Base Rate plus 1.0% at any time the total debt ratio is less than or equal to 4.25 to 1, 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 and B loans and revolving credit facility. As of June 30, 2018, there was $118,000 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 $12,974 in letters of credit outstanding as of June 30, 2018 resulting in $319,026 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 May 15, 2022. The terms of Lamar Media’s senior credit facility and the indentures relating to Lamar Media’s outstanding notes restrict, among other things, the ability of Lamar Advertising and Lamar Media to: • dispose of assets; • incur or repay debt; • create liens; • make investments; and • pay dividends. The senior credit facility contains provisions that allow Lamar Media to conduct its affairs in a manner that allows Lamar Advertising to qualify and remain qualified as a REIT, including by allowing Lamar Media to make distributions to Lamar Advertising required for the Company to qualify and remain qualified for taxation as a REIT, subject to certain restrictions. Lamar Media’s ability to make distributions to Lamar Advertising is also restricted under the terms of these agreements. Under Lamar Media’s senior credit facility the Company must maintain a specified 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 senior credit facility provisions during the periods presented. 5 7/8% Senior Subordinated Notes On February 9, 2012, Lamar Media completed an institutional private placement of $500,000 aggregate principal amount of its 5 7/8% Notes. The institutional private placement resulted in net proceeds to Lamar Media of approximately $489,000. The Company used the proceeds from the Term B loans to redeem all of the 5 7/8% Notes on March 19, 2018 at a redemption price of 101.958% of the aggregate principal amount of the outstanding 5 7/8% Notes, plus accrued and unpaid interest up to but not including the redemption date. In conjunction with the redemption the Company recorded a loss on debt extinguishment of $15,429, of which $9,790 was cash, for the six months ended June 30, 2018. 5% Senior Subordinated Notes On October 30, 2012, Lamar Media completed an institutional private placement of $535,000 aggregate principal amount of 5% Senior Subordinated Notes due 2023 (the “5% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $527,100. 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 5% Notes at a price equal to 101% of the principal amount of the 5% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. 5 3/8% Senior Notes On January 10, 2014, Lamar Media completed an institutional private placement of $510,000 aggregate principal amount of 5 3/8% Senior Notes due 2024 (the “5 3/8% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $502,300. At any time prior to January 15, 2019, Lamar Media may redeem some or all of the 5 3/8% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon plus a make-whole premium. On or after January 15, 2019, Lamar Media may redeem the 5 3/8% Notes, in whole or in part, in cash at redemption prices specified in the 5 3/8% Notes. In addition, if the Company or Lamar Media undergoes a change of control, Lamar Media may be required to make an offer to purchase each holder’s 5 3/8% Notes at a price equal to 101% of the principal amount of the 5 3/8% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. 5 3/4% Senior Notes On January 28, 2016, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 5 3/4% Senior Notes due 2026 (the “5 3/4 % Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $394,500. Lamar Media may redeem up to 35% of the aggregate principal amount of the 5 3/4% Notes, at any time and from time to time, at a price equal to 105.750% 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, 2019, provided that following the redemption, at least 65% of the 5 3/4% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to February 1, 2021, Lamar Media may redeem some or all of the 5 3/4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon plus a make-whole premium. On or after February 1, 2021, Lamar Media may redeem the 5 3/4% Notes, in whole or in part, in cash at redemption prices specified in the 5 3/4% Notes. In addition, if the Company or Lamar Media undergoes a change of control, Lamar Media may be required to make an offer to purchase each holder’s 5 3/4% Notes at a price equal to 101% of the principal amount of the 5 3/4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	10. Fair Value of Financial Instruments At June 30, 2018 and December 31, 2017, 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 $2,614,655 which exceeded the carrying amount of $2,591,916 as of June 30, 2018. 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).

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
New Accounting Pronouncements	11. New Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers In February 2016, the FASB issued ASU No. 2016-02, Leases In January 2018, the FASB issued ASU No. 2018-01, Leases (Topic 842) – Land Easement Practical Expedient for Transition to Topic 842. In July 2018, The FASB issued ASU No. 2018-11, Leases (Topic 842) – Targeted Improvements. Topic 842

Dividends_Distributions

Dividends/Distributions	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Dividends/Distributions	12. Dividends/Distributions During the three months ended June 30, 2018 and June 30, 2017, the Company declared and paid cash distributions of its REIT taxable income in an aggregate amount of $89,783 or $0.91 per share and $81,332 or $0.83 per share, respectively. During the six months ended June 30, 2018, the Company paid cash distributions of its REIT taxable income in an aggregate amount of $260,859 or $2.65 per share. The distributions paid during the six months ended June 30, 2018 include distributions declared and accrued as of December 31, 2017 of $81,534 or $0.83 per share. During the six months ended June 30, 2017, the Company declared and paid cash distributions of its REIT taxable income in an aggregate amount of $162,520 or $1.66 per share, respectively. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its taxable REIT subsidiaries (TRSs) and other factors that the Board of Directors may deem relevant. During the three months ended June 30, 2018 and June 30, 2017, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $91 or $15.95 per share. During the six months ended June 30, 2018, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $273 or $47.85 per share. During the six months ended June 30, 2017, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $182 or $31.90 per share.

Information about Geographic Ar

Information about Geographic Areas	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Information about Geographic Areas	13. Information about Geographic Areas Revenues from external customers attributable to foreign countries totaled $16,794 and $15,555 for the six months ended June 30, 2018 and 2017, respectively. Net carrying value of long lived assets located in foreign countries totaled $2,903 and $3,571 as of June 30, 2018 and December 31, 2017, respectively. All other revenues from external customers and long lived assets relate to domestic operations.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Stockholders' Equity	14. Stockholders’ Equity On May 1, 2018, the Company entered into an equity distribution agreement (the “Sales Agreement”) with J.P. Morgan Securities LLC, Wells Fargo Securities LLC, and SunTrust Robinson Humphrey, Inc. as its sales agents (each a “Sales Agent”, and collectively, the “Sales Agents”). Under the terms of the Sales Agreement, the Company may, from time to time, issue and sell shares of its Class A common stock, par value $0.001 per share (the “Class A Common Stock”), having an aggregate offering price of up to $400,000, through the Sales Agents as either agents or principals. As of June 30, 2018, 213,276 shares of our Class A Common Stock have been sold under the Sales Agreement and accordingly $384,929 remains available to be sold under the Sales Agreement. Sales of the Class A Common Stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at-the-market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Global Select Market and any other existing trading market for the Class A Common Stock, or sales made to or through a market maker other than on an exchange. The Company has no obligation to sell any of the Class A Common Stock under the Sales Agreement and may at any time suspend solicitations and offers under the Sales Agreement.

Divestiture of Assets

Divestiture of Assets	6 Months Ended
	Jun. 30, 2018
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Divestiture of Assets	15. Divestiture of Assets On April 16, 2018 the Company sold its assets in Puerto Rico for $3,000 in cash and non-cash consideration consisting of a note receivable for $9,500 due April 2024. The Company recorded a loss on the sale of $7,685 for the six months ended June 30, 2018.

Summarized Financial Informatio

Summarized Financial Information of Subsidiaries	6 Months Ended
	Jun. 30, 2018
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Summarized Financial Information of Subsidiaries	2. Summarized Financial Information of Subsidiaries Separate condensed consolidating financial information for Lamar Media, subsidiary guarantors and non-guarantor subsidiaries are presented below. Lamar Media and its subsidiary guarantors have fully and unconditionally guaranteed Lamar Media’s obligations with respect to its publicly issued notes. All guarantees are joint and several. As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The following condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes. The condensed consolidating financial information is provided as an alternative to providing separate financial statements for guarantor subsidiaries. Separate financial statements of Lamar Media’s subsidiary guarantors are not included because the guarantees are full and unconditional and the subsidiary guarantors are 100% owned and jointly and severally liable for Lamar Media’s outstanding publicly issued notes. The accounts for all companies reflected herein are presented using the equity method of accounting for investments in subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Balance Sheet as of June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) ASSETS Total current assets $ 10,192 $ 350,468 $ 20,529 $ — $ 381,189 Net property, plant and equipment — 1,186,992 5,626 — 1,192,618 Intangibles and goodwill, net — 2,460,549 20,109 — 2,480,658 Other assets 3,671,283 11,515 9,497 (3,643,447 ) 48,848 Total assets $ 3,681,475 $ 4,009,524 $ 55,761 $ (3,643,447 ) $ 4,103,313 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current maturities of long-term debt $ 23,911 $ 34 $ — $ — $ 23,945 Other current liabilities 27,638 181,783 20,285 — 229,706 Total current liabilities 51,549 181,817 20,285 — 253,651 Long-term debt 2,540,870 85 — — 2,540,955 Other noncurrent liabilities 27,809 218,035 33,912 (32,296 ) 247,460 Total liabilities 2,620,228 399,937 54,197 (32,296 ) 3,042,066 Stockholders’ equity 1,061,247 3,609,587 1,564 (3,611,151 ) 1,061,247 Total liabilities and stockholders’ equity $ 3,681,475 $ 4,009,524 $ 55,761 $ (3,643,447 ) $ 4,103,313 LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Balance Sheet as of December 31, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 87,167 $ 293,536 $ 39,316 $ — $ 420,019 Net property, plant and equipment — 1,193,705 20,433 — 1,214,138 Intangibles and goodwill, net — 2,495,370 30,812 — 2,526,182 Other assets 3,707,352 10,571 7 (3,680,327 ) 37,603 Total assets $ 3,794,519 $ 3,993,182 $ 90,568 $ (3,680,327 ) $ 4,197,942 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ 17,664 $ — $ — $ — $ 17,664 Other current liabilities 120,500 164,393 19,429 — 304,322 Total current liabilities 138,164 164,393 19,429 — 321,986 Long-term debt 2,539,026 — — — 2,539,026 Other noncurrent liabilities 26,231 218,900 61,587 (60,886 ) 245,832 Total liabilities 2,703,421 383,293 81,016 (60,886 ) 3,106,844 Stockholders’ equity 1,091,098 3,609,889 9,552 (3,619,441 ) 1,091,098 Total liabilities and stockholders’ equity $ 3,794,519 $ 3,993,182 $ 90,568 $ (3,680,327 ) $ 4,197,942 LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 406,521 $ 14,119 $ (840 ) $ 419,800 Operating expenses Direct advertising expenses (1) — 134,716 6,770 (702 ) 140,784 General and administrative expenses (1) — 67,915 1,771 — 69,686 Corporate expenses (1) — 19,611 447 — 20,058 Depreciation and amortization — 54,231 1,091 — 55,322 Gain on disposition of assets — (862 ) (981 ) — (1,843 ) — 275,611 9,098 (702 ) 284,007 Operating income (loss) — 130,910 5,021 (138 ) 135,793 Equity in (earnings) loss of subsidiaries (132,412 ) — — 132,412 — Interest expense (income), net 31,892 (8 ) 14 (138 ) 31,760 Other expenses — — — — — Income (loss) before income tax expense 100,520 130,918 5,007 (132,412 ) 104,033 Income tax expense (2) — 2,829 684 — 3,513 Net income (loss) $ 100,520 $ 128,089 $ 4,323 $ (132,412 ) $ 100,520 Statement of Comprehensive Income Net income (loss) $ 100,520 $ 128,089 $ 4,323 $ (132,412 ) $ 100,520 Total other comprehensive loss, net of tax — — (277 ) — (277 ) Total comprehensive income (loss) $ 100,520 $ 128,089 $ 4,046 $ (132,412 ) $ 100,243 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 384,685 $ 13,414 $ (1,021 ) $ 397,078 Operating expenses Direct advertising expenses (1) — 128,038 7,635 (598 ) 135,075 General and administrative expenses (1) — 63,500 2,421 — 65,921 Corporate expenses (1) — 16,358 287 — 16,645 Depreciation and amortization — 49,634 2,148 — 51,782 Gain on disposition of assets — (603 ) (4 ) — (607 ) — 256,927 12,487 (598 ) 268,816 Operating income (loss) — 127,758 927 (423 ) 128,262 Equity in (earnings) loss of subsidiaries (124,527 ) — — 124,527 — Interest expense (income), net 31,977 — 425 (423 ) 31,979 Other expenses 71 — — — 71 Income (loss) before income tax expense 92,479 127,758 502 (124,527 ) 96,212 Income tax expense (2) — 3,146 587 — 3,733 Net income (loss) $ 92,479 $ 124,612 $ (85 ) $ (124,527 ) $ 92,479 Statement of Comprehensive Income Net income (loss) $ 92,479 $ 124,612 $ (85 ) $ (124,527 ) $ 92,479 Total other comprehensive income, net of tax — — 745 — 745 Total comprehensive income (loss) $ 92,479 $ 124,612 $ 660 $ (124,527 ) $ 93,224 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 756,383 $ 26,221 $ (1,778 ) $ 780,826 Operating expenses Direct advertising expenses (1) — 265,840 14,520 (1,283 ) 279,077 General and administrative expenses (1) — 135,476 4,418 — 139,894 Corporate expenses (1) — 40,216 840 — 41,056 Depreciation and amortization — 108,580 3,582 — 112,162 (Gain) loss on disposition of assets — (827 ) 7,685 — 6,858 — 549,285 31,045 (1,283 ) 579,047 Operating income (loss) — 207,098 (4,824 ) (495 ) 201,779 Equity in (earnings) loss of subsidiaries (196,577 ) — — 196,577 — Interest expense (income), net 65,470 (10 ) 350 (495 ) 65,315 Other expenses 15,429 — — — 15,429 Income (loss) before income tax expense 115,678 207,108 (5,174 ) (196,577 ) 121,035 Income tax expense (2) — 3,541 1,816 — 5,357 Net income (loss) $ 115,678 $ 203,567 $ (6,990 ) $ (196,577 ) $ 115,678 Statement of Comprehensive Income Net income (loss) $ 115,678 $ 203,567 $ (6,990 ) $ (196,577 ) $ 115,678 Total other comprehensive loss, net of tax — — (820 ) — (820 ) Total comprehensive income (loss) $ 115,678 $ 203,567 $ (7,810 ) $ (196,577 ) $ 114,858 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 720,488 $ 24,888 $ (1,936 ) $ 743,440 Operating expenses Direct advertising expenses (1) — 253,142 14,922 (1,145 ) 266,919 General and administrative expenses (1) — 133,512 4,440 — 137,952 Corporate expenses (1) — 32,615 557 — 33,172 Depreciation and amortization — 98,882 4,325 — 103,207 Gain on disposition of assets — (1,640 ) (3 ) — (1,643 ) — 516,511 24,241 (1,145 ) 539,607 Operating income (loss) — 203,977 647 (791 ) 203,833 Equity in (earnings) loss of subsidiaries (197,901 ) — — 197,901 — Interest expense (income), net 63,458 (3 ) 794 (791 ) 63,458 Other expenses 71 — — — 71 Income (loss) before income tax expense 134,372 203,980 (147 ) (197,901 ) 140,304 Income tax expense (2) — 4,869 1,063 — 5,932 Net income (loss) $ 134,372 $ 199,111 $ (1,210 ) $ (197,901 ) $ 134,372 Statement of Comprehensive Income Net income (loss) $ 134,372 $ 199,111 $ (1,210 ) $ (197,901 ) $ 134,372 Total other comprehensive income, net of tax — — 888 — 888 Total comprehensive income (loss) $ 134,372 $ 199,111 $ (322 ) $ (197,901 ) $ 135,260 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 146,324 $ 268,161 $ 7,790 $ (220,034 ) $ 202,241 Cash flows from investing activities: Acquisitions — (16,165 ) — — (16,165 ) Capital expenditures — (48,506 ) (3,967 ) — (52,473 ) Proceeds from disposition of assets and investments — — 3,407 — 3,407 Proceeds received from insurance claims — — 3,804 — 3,804 Investment in subsidiaries (16,165 ) — — 16,165 — Decrease (increase) in intercompany notes receivable 28,618 — — (28,618 ) — Decrease in notes receivable 5 — — — 5 Net cash provided by (used in) investing activities 12,458 (64,671 ) 3,244 (12,453 ) (61,422 ) Cash flows from financing activities: Proceeds received from revolving credit facility 190,000 — — — 190,000 Payment on revolving credit facility (270,000 ) — — — (270,000 ) Principal payments on long-term debt (12,897 ) (14 ) — — (12,911 ) Proceeds received from senior credit facility term loan 599,250 — — — 599,250 Redemption of senior subordinated notes (509,790 ) — — — (509,790 ) Debt issuance costs (6,349 ) — — — (6,349 ) Intercompany loan proceeds — — (28,618 ) 28,618 — Distributions to non-controlling interest — — (241 ) — (241 ) Dividends (to) from parent (264,970 ) (220,034 ) — 220,034 (264,970 ) Contributions from (to) parent 38,992 16,165 — (16,165 ) 38,992 Net cash (used in) provided by financing activities (235,764 ) (203,883 ) (28,859 ) 232,487 (236,019 ) Effect of exchange rate changes in cash and cash equivalents — — (683 ) — (683 ) Net decrease in cash and cash equivalents (76,982 ) (393 ) (18,508 ) — (95,883 ) Cash and cash equivalents at beginning of period 86,546 1,625 26,800 — 114,971 Cash and cash equivalents at end of period $ 9,564 $ 1,232 $ 8,292 $ — $ 19,088 LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 127,087 $ 230,322 $ 3,902 $ (187,751 ) $ 173,560 Cash flows from investing activities: Acquisitions — (28,101 ) — — (28,101 ) Capital expenditures — (43,858 ) (3,978 ) — (47,836 ) Proceeds from disposition of assets and investments — 2,566 — — 2,566 Investment in subsidiaries (28,101 ) — — 28,101 — (Increase) decrease in intercompany notes receivable (3,594 ) — — 3,594 — Decrease in notes receivable 11 — — — 11 Net cash (used in) provided by investing activities (31,684 ) (69,393 ) (3,978 ) 31,695 (73,360 ) Cash flows from financing activities: Proceeds received from revolving credit facility 182,000 — — — 182,000 Payment on revolving credit facility (334,000 ) — — — (334,000 ) Principal payments on long-term debt (5,625 ) — — — (5,625 ) Proceeds received from senior credit facility term loan 450,000 — — — 450,000 Payment on senior credit facility term loan (247,500 ) — — — (247,500 ) Debt issuance costs (4,899 ) — — — (4,899 ) Intercompany loan proceeds — — 3,594 (3,594 ) — Distributions to non-controlling interest — — (310 ) — (310 ) Dividends (to) from parent (171,517 ) (187,751 ) — 187,751 (171,517 ) Contributions from (to) parent 38,207 28,101 — (28,101 ) 38,207 Net cash (used in) provided by financing activities (93,334 ) (159,650 ) 3,284 156,056 (93,644 ) Effect of exchange rate changes in cash and cash equivalents — — 798 — 798 Net increase in cash and cash equivalents 2,069 1,279 4,006 — 7,354 Cash and cash equivalents at beginning of period 12,762 1,201 21,067 — 35,030 Cash and cash equivalents at end of period $ 14,831 $ 2,480 $ 25,073 $ — $ 42,384

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Disaggregation Revenue	The following table presents our disaggregated revenue by source including both revenues accounted for under ASC 840 and ASC 606 for the three and six months ended June 30, 2018 and June 30, 2017. Three months ended June 30, Six months ended June 30, 2018 2017 2018 2017 Billboard Advertising $ 365,367 $ 348,426 $ 678,170 $ 649,611 Logo Advertising 21,378 20,758 42,007 41,087 Transit Advertising 33,055 27,894 60,649 52,742 Net Revenues $ 419,800 $ 397,078 $ 780,826 $ 743,440

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of ESPP Share Activity	The following is a summary of 2009 ESPP share activity for the six months ended June 30, 2018: Shares Available for future purchases, January 1, 2018 225,418 Additional shares reserved under 2009 ESPP 83,838 Purchases (68,379 ) Available for future purchases, June 30, 2018 240,877

Depreciation and Amortization (

Depreciation and Amortization (Tables)	6 Months Ended
	Jun. 30, 2018
Depreciation And Amortization [Abstract]
Depreciation and Amortization Expense Excluded from Operating Expenses in its Statements of Income and Comprehensive Income	The amounts of depreciation and amortization expense excluded from the following operating expenses in its Statements of Income and Comprehensive Income are: Three months ended June 30, Six months ended June 30, 2018 2017 2018 2017 Direct advertising expenses $ 51,457 $ 48,685 $ 104,473 $ 97,003 General and administrative expenses 1,012 972 2,007 1,902 Corporate expenses 2,853 2,125 5,682 4,302 $ 55,322 $ 51,782 $ 112,162 $ 103,207

Goodwill and Other Intangible25

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following is a summary of intangible assets at June 30, 2018 and December 31, 2017: Estimated June 30, 2018 December 31, 2017 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer lists and contracts 7—10 $ 578,003 $ 505,760 $ 586,055 $ 505,778 Non-competition agreements 3—15 65,561 64,004 65,477 63,924 Site locations 15 2,053,107 1,386,852 2,072,059 1,372,954 Other 2—15 45,854 31,989 45,741 30,328 $ 2,742,525 $ 1,988,605 $ 2,769,332 $ 1,972,984 Unamortizable intangible assets: Goodwill $ 1,990,893 $ 253,536 $ 1,993,990 $ 253,536

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2018
Asset Retirement Obligation Disclosure [Abstract]
Information Related to Asset Retirement Obligations	The following table reflects information related to our asset retirement obligations: Balance at December 31, 2017 $ 215,089 Additions to asset retirement obligations 340 Accretion expense 2,261 Liabilities settled (2,293 ) Balance at June 30, 2018 $ 215,397

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following at June 30, 2018 and December 31, 2017: June 30, 2018 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,143,285 $ 12,851 $ 1,130,434 5% Senior Subordinated Notes 535,000 4,521 530,479 5 3/8% Senior Notes 510,000 4,627 505,373 5 3/4% Senior Notes 400,000 5,017 394,983 Other notes with various rates and terms 3,631 — 3,631 2,591,916 27,016 2,564,900 Less current maturities (28,732 ) (4,787 ) (23,945 ) Long-term debt, excluding current maturities $ 2,563,184 $ 22,229 $ 2,540,955 December 31, 2017 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 636,750 $ 7,689 $ 629,061 5 7/8% Senior Subordinated Notes 500,000 5,850 494,150 5% Senior Subordinated Notes 535,000 4,927 530,073 5 3/8% Senior Notes 510,000 4,982 505,018 5 3/4% Senior Notes 400,000 5,271 394,729 Other notes with various rates and terms 3,659 — 3,659 2,585,409 28,719 2,556,690 Less current maturities (22,797 ) (5,133 ) (17,664 ) Long-term debt, excluding current maturities $ 2,562,612 $ 23,586 $ 2,539,026
Schedule of Maturities of Long Term Debt	The remaining quarterly installments are scheduled to be paid on each June 30, September 30, December 31, and March 31 as follows: Principal Payment Date Term A Term B September 30, 2018-June 30, 2019 $ 5,625 $ 1,500 September 30, 2019-June 30, 2020 $ 8,438 $ 1,500 September 30, 2020-March 31, 2022 $ 16,875 $ 1,500 Term A Loan Maturity Date $ 253,125 $ — June 30, 2022-December 31, 2024 $ — $ 1,500 Term B Loan Maturity Date $ — $ 559,500

Summarized Financial Informat28

Summarized Financial Information of Subsidiaries (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	6 Months Ended
	Jun. 30, 2018
Condensed Consolidating Balance Sheet	LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Balance Sheet as of June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) ASSETS Total current assets $ 10,192 $ 350,468 $ 20,529 $ — $ 381,189 Net property, plant and equipment — 1,186,992 5,626 — 1,192,618 Intangibles and goodwill, net — 2,460,549 20,109 — 2,480,658 Other assets 3,671,283 11,515 9,497 (3,643,447 ) 48,848 Total assets $ 3,681,475 $ 4,009,524 $ 55,761 $ (3,643,447 ) $ 4,103,313 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current maturities of long-term debt $ 23,911 $ 34 $ — $ — $ 23,945 Other current liabilities 27,638 181,783 20,285 — 229,706 Total current liabilities 51,549 181,817 20,285 — 253,651 Long-term debt 2,540,870 85 — — 2,540,955 Other noncurrent liabilities 27,809 218,035 33,912 (32,296 ) 247,460 Total liabilities 2,620,228 399,937 54,197 (32,296 ) 3,042,066 Stockholders’ equity 1,061,247 3,609,587 1,564 (3,611,151 ) 1,061,247 Total liabilities and stockholders’ equity $ 3,681,475 $ 4,009,524 $ 55,761 $ (3,643,447 ) $ 4,103,313 LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Balance Sheet as of December 31, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 87,167 $ 293,536 $ 39,316 $ — $ 420,019 Net property, plant and equipment — 1,193,705 20,433 — 1,214,138 Intangibles and goodwill, net — 2,495,370 30,812 — 2,526,182 Other assets 3,707,352 10,571 7 (3,680,327 ) 37,603 Total assets $ 3,794,519 $ 3,993,182 $ 90,568 $ (3,680,327 ) $ 4,197,942 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ 17,664 $ — $ — $ — $ 17,664 Other current liabilities 120,500 164,393 19,429 — 304,322 Total current liabilities 138,164 164,393 19,429 — 321,986 Long-term debt 2,539,026 — — — 2,539,026 Other noncurrent liabilities 26,231 218,900 61,587 (60,886 ) 245,832 Total liabilities 2,703,421 383,293 81,016 (60,886 ) 3,106,844 Stockholders’ equity 1,091,098 3,609,889 9,552 (3,619,441 ) 1,091,098 Total liabilities and stockholders’ equity $ 3,794,519 $ 3,993,182 $ 90,568 $ (3,680,327 ) $ 4,197,942
Condensed Consolidating Statements of Income and Comprehensive Income	LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 406,521 $ 14,119 $ (840 ) $ 419,800 Operating expenses Direct advertising expenses (1) — 134,716 6,770 (702 ) 140,784 General and administrative expenses (1) — 67,915 1,771 — 69,686 Corporate expenses (1) — 19,611 447 — 20,058 Depreciation and amortization — 54,231 1,091 — 55,322 Gain on disposition of assets — (862 ) (981 ) — (1,843 ) — 275,611 9,098 (702 ) 284,007 Operating income (loss) — 130,910 5,021 (138 ) 135,793 Equity in (earnings) loss of subsidiaries (132,412 ) — — 132,412 — Interest expense (income), net 31,892 (8 ) 14 (138 ) 31,760 Other expenses — — — — — Income (loss) before income tax expense 100,520 130,918 5,007 (132,412 ) 104,033 Income tax expense (2) — 2,829 684 — 3,513 Net income (loss) $ 100,520 $ 128,089 $ 4,323 $ (132,412 ) $ 100,520 Statement of Comprehensive Income Net income (loss) $ 100,520 $ 128,089 $ 4,323 $ (132,412 ) $ 100,520 Total other comprehensive loss, net of tax — — (277 ) — (277 ) Total comprehensive income (loss) $ 100,520 $ 128,089 $ 4,046 $ (132,412 ) $ 100,243 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 384,685 $ 13,414 $ (1,021 ) $ 397,078 Operating expenses Direct advertising expenses (1) — 128,038 7,635 (598 ) 135,075 General and administrative expenses (1) — 63,500 2,421 — 65,921 Corporate expenses (1) — 16,358 287 — 16,645 Depreciation and amortization — 49,634 2,148 — 51,782 Gain on disposition of assets — (603 ) (4 ) — (607 ) — 256,927 12,487 (598 ) 268,816 Operating income (loss) — 127,758 927 (423 ) 128,262 Equity in (earnings) loss of subsidiaries (124,527 ) — — 124,527 — Interest expense (income), net 31,977 — 425 (423 ) 31,979 Other expenses 71 — — — 71 Income (loss) before income tax expense 92,479 127,758 502 (124,527 ) 96,212 Income tax expense (2) — 3,146 587 — 3,733 Net income (loss) $ 92,479 $ 124,612 $ (85 ) $ (124,527 ) $ 92,479 Statement of Comprehensive Income Net income (loss) $ 92,479 $ 124,612 $ (85 ) $ (124,527 ) $ 92,479 Total other comprehensive income, net of tax — — 745 — 745 Total comprehensive income (loss) $ 92,479 $ 124,612 $ 660 $ (124,527 ) $ 93,224 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 756,383 $ 26,221 $ (1,778 ) $ 780,826 Operating expenses Direct advertising expenses (1) — 265,840 14,520 (1,283 ) 279,077 General and administrative expenses (1) — 135,476 4,418 — 139,894 Corporate expenses (1) — 40,216 840 — 41,056 Depreciation and amortization — 108,580 3,582 — 112,162 (Gain) loss on disposition of assets — (827 ) 7,685 — 6,858 — 549,285 31,045 (1,283 ) 579,047 Operating income (loss) — 207,098 (4,824 ) (495 ) 201,779 Equity in (earnings) loss of subsidiaries (196,577 ) — — 196,577 — Interest expense (income), net 65,470 (10 ) 350 (495 ) 65,315 Other expenses 15,429 — — — 15,429 Income (loss) before income tax expense 115,678 207,108 (5,174 ) (196,577 ) 121,035 Income tax expense (2) — 3,541 1,816 — 5,357 Net income (loss) $ 115,678 $ 203,567 $ (6,990 ) $ (196,577 ) $ 115,678 Statement of Comprehensive Income Net income (loss) $ 115,678 $ 203,567 $ (6,990 ) $ (196,577 ) $ 115,678 Total other comprehensive loss, net of tax — — (820 ) — (820 ) Total comprehensive income (loss) $ 115,678 $ 203,567 $ (7,810 ) $ (196,577 ) $ 114,858 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Six Months Ended June 30, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 720,488 $ 24,888 $ (1,936 ) $ 743,440 Operating expenses Direct advertising expenses (1) — 253,142 14,922 (1,145 ) 266,919 General and administrative expenses (1) — 133,512 4,440 — 137,952 Corporate expenses (1) — 32,615 557 — 33,172 Depreciation and amortization — 98,882 4,325 — 103,207 Gain on disposition of assets — (1,640 ) (3 ) — (1,643 ) — 516,511 24,241 (1,145 ) 539,607 Operating income (loss) — 203,977 647 (791 ) 203,833 Equity in (earnings) loss of subsidiaries (197,901 ) — — 197,901 — Interest expense (income), net 63,458 (3 ) 794 (791 ) 63,458 Other expenses 71 — — — 71 Income (loss) before income tax expense 134,372 203,980 (147 ) (197,901 ) 140,304 Income tax expense (2) — 4,869 1,063 — 5,932 Net income (loss) $ 134,372 $ 199,111 $ (1,210 ) $ (197,901 ) $ 134,372 Statement of Comprehensive Income Net income (loss) $ 134,372 $ 199,111 $ (1,210 ) $ (197,901 ) $ 134,372 Total other comprehensive income, net of tax — — 888 — 888 Total comprehensive income (loss) $ 134,372 $ 199,111 $ (322 ) $ (197,901 ) $ 135,260 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.
Condensed Consolidating Statements of Cash Flows	LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 146,324 $ 268,161 $ 7,790 $ (220,034 ) $ 202,241 Cash flows from investing activities: Acquisitions — (16,165 ) — — (16,165 ) Capital expenditures — (48,506 ) (3,967 ) — (52,473 ) Proceeds from disposition of assets and investments — — 3,407 — 3,407 Proceeds received from insurance claims — — 3,804 — 3,804 Investment in subsidiaries (16,165 ) — — 16,165 — Decrease (increase) in intercompany notes receivable 28,618 — — (28,618 ) — Decrease in notes receivable 5 — — — 5 Net cash provided by (used in) investing activities 12,458 (64,671 ) 3,244 (12,453 ) (61,422 ) Cash flows from financing activities: Proceeds received from revolving credit facility 190,000 — — — 190,000 Payment on revolving credit facility (270,000 ) — — — (270,000 ) Principal payments on long-term debt (12,897 ) (14 ) — — (12,911 ) Proceeds received from senior credit facility term loan 599,250 — — — 599,250 Redemption of senior subordinated notes (509,790 ) — — — (509,790 ) Debt issuance costs (6,349 ) — — — (6,349 ) Intercompany loan proceeds — — (28,618 ) 28,618 — Distributions to non-controlling interest — — (241 ) — (241 ) Dividends (to) from parent (264,970 ) (220,034 ) — 220,034 (264,970 ) Contributions from (to) parent 38,992 16,165 — (16,165 ) 38,992 Net cash (used in) provided by financing activities (235,764 ) (203,883 ) (28,859 ) 232,487 (236,019 ) Effect of exchange rate changes in cash and cash equivalents — — (683 ) — (683 ) Net decrease in cash and cash equivalents (76,982 ) (393 ) (18,508 ) — (95,883 ) Cash and cash equivalents at beginning of period 86,546 1,625 26,800 — 114,971 Cash and cash equivalents at end of period $ 9,564 $ 1,232 $ 8,292 $ — $ 19,088 LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statement of Cash Flows for the Six Months Ended June 30, 2017 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 127,087 $ 230,322 $ 3,902 $ (187,751 ) $ 173,560 Cash flows from investing activities: Acquisitions — (28,101 ) — — (28,101 ) Capital expenditures — (43,858 ) (3,978 ) — (47,836 ) Proceeds from disposition of assets and investments — 2,566 — — 2,566 Investment in subsidiaries (28,101 ) — — 28,101 — (Increase) decrease in intercompany notes receivable (3,594 ) — — 3,594 — Decrease in notes receivable 11 — — — 11 Net cash (used in) provided by investing activities (31,684 ) (69,393 ) (3,978 ) 31,695 (73,360 ) Cash flows from financing activities: Proceeds received from revolving credit facility 182,000 — — — 182,000 Payment on revolving credit facility (334,000 ) — — — (334,000 ) Principal payments on long-term debt (5,625 ) — — — (5,625 ) Proceeds received from senior credit facility term loan 450,000 — — — 450,000 Payment on senior credit facility term loan (247,500 ) — — — (247,500 ) Debt issuance costs (4,899 ) — — — (4,899 ) Intercompany loan proceeds — — 3,594 (3,594 ) — Distributions to non-controlling interest — — (310 ) — (310 ) Dividends (to) from parent (171,517 ) (187,751 ) — 187,751 (171,517 ) Contributions from (to) parent 38,207 28,101 — (28,101 ) 38,207 Net cash (used in) provided by financing activities (93,334 ) (159,650 ) 3,284 156,056 (93,644 ) Effect of exchange rate changes in cash and cash equivalents — — 798 — 798 Net increase in cash and cash equivalents 2,069 1,279 4,006 — 7,354 Cash and cash equivalents at beginning of period 12,762 1,201 21,067 — 35,030 Cash and cash equivalents at end of period $ 14,831 $ 2,480 $ 25,073 $ — $ 42,384

Revenues - Disaggregation Reven

Revenues - Disaggregation Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation Of Revenue [Line Items]
Net Revenues	$ 419,800	$ 397,078	$ 780,826	$ 743,440
Billboard Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net Revenues	365,367	348,426	678,170	649,611
Logo Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net Revenues	21,378	20,758	42,007	41,087
Transit Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net Revenues	$ 33,055	$ 27,894	$ 60,649	$ 52,742

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting terms	Vesting terms ranging from three to five years and include 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date.
Common Class A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	59,000
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	5 years
1996 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for issuance to directors and employees	15,500,000
Number of shares available for grant under Incentive Plan	1,014,815
Compensation expense related to performance based compensation agreements	$ 11,954
1996 Equity Incentive Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	0.00%
1996 Equity Incentive Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	100.00%
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration date of options granted under equity incentive plan	10 years
Restricted Stock [Member] | 1996 Equity Incentive Plan [Member] | Percentage of awards vesting on grant date [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of awards vesting on grant date	50.00%
Restricted Stock [Member] | 1996 Equity Incentive Plan [Member] | Percentage of Awards Vesting On Last Day of Each Directors Term [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	1 year
Percentage of awards vesting on grant date	50.00%
Restricted Stock [Member] | 1996 Equity Incentive Plan [Member] | Common Class A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements	$ 278
2009 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for grant under Incentive Plan	240,877	225,418
Additional shares reserved under 2009 ESPP	83,838

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of ESPP Share Activity (Detail) - 2009 Employee Stock Purchase Plan [Member]	6 Months Ended
	Jun. 30, 2018shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for future purchases, January 1, 2018	225,418
Additional shares reserved under 2009 ESPP	83,838
Purchases	(68,379)
Available for future purchases, June 30, 2018	240,877

Depreciation and Amortization -

Depreciation and Amortization - Depreciation and Amortization Expense Excluded from Operating Expenses in its Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 55,322	$ 51,782	$ 112,162	$ 103,207
Direct Advertising Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	51,457	48,685	104,473	97,003
General and Administrative Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	1,012	972	2,007	1,902
Corporate Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 2,853	$ 2,125	$ 5,682	$ 4,302

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,742,525	$ 2,769,332
Accumulated Amortization	1,988,605	1,972,984
Goodwill gross carrying amount	1,990,893	1,993,990
Goodwill accumulated amortization	253,536	253,536
Customer Lists and Contracts [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	578,003	586,055
Accumulated Amortization	$ 505,760	505,778
Customer Lists and Contracts [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	7 years
Customer Lists and Contracts [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	10 years
Non-competition Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 65,561	65,477
Accumulated Amortization	$ 64,004	63,924
Non-competition Agreements [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	3 years
Non-competition Agreements [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Site Locations [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,053,107	2,072,059
Accumulated Amortization	$ 1,386,852	1,372,954
Site Locations [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Other [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 45,854	45,741
Accumulated Amortization	$ 31,989	$ 30,328
Other [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	2 years
Other [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years

Asset Retirement Obligations -

Asset Retirement Obligations - Information Related to Asset Retirement Obligations (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Beginning Balance	$ 215,089
Additions to asset retirement obligations	340
Accretion expense	2,261
Liabilities settled	(2,293)
Ending Balance	$ 215,397

Distribution Restrictions - Add

Distribution Restrictions - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Balance of permitted transfers to parent company	$ 2,987,145	$ 2,975,593
Description of provisions on senior credit facility transfers to Lamar Advertising not subject to additional restrictions	(i) the total debt ratio is less than 6.5 to 1 and (ii) the secured debt ratio does not exceed 3.5 to 1.
Debt ratio	6.5
Debt ratio related to actual position on senior credit facility	6.5
Available cumulative credit	$ 1,737,624
Secured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	3.5
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Secured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	3.5

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
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

Long-term Debt - Long-Term Debt

Long-term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt	$ 2,591,916	$ 2,585,409
Debt, Less current maturities	(28,732)	(22,797)
Debt, excluding current maturities	2,563,184	2,562,612
Deferred financing costs	27,016	28,719
Deferred financing costs, Less current maturities	(4,787)	(5,133)
Deferred financing costs, excluding current maturities	22,229	23,586
Debt, net of deferred financing costs	2,564,900	2,556,690
Debt, net of deferred financing costs, Less current maturities	(23,945)	(17,664)
Debt, net of deferred financing costs, excluding current maturities	2,540,955	2,539,026
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt	1,143,285	636,750
Deferred financing costs	12,851	7,689
Debt, net of deferred financing costs	1,130,434	629,061
5 7/8% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt		500,000
Deferred financing costs		5,850
Debt, net of deferred financing costs		494,150
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt	535,000	535,000
Deferred financing costs	4,521	4,927
Debt, net of deferred financing costs	530,479	530,073
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	510,000	510,000
Deferred financing costs	4,627	4,982
Debt, net of deferred financing costs	505,373	505,018
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	400,000	400,000
Deferred financing costs	5,017	5,271
Debt, net of deferred financing costs	394,983	394,729
Other Notes with Various Rates and Terms [Member]
Debt Instrument [Line Items]
Debt	3,631	3,659
Debt, net of deferred financing costs	$ 3,631	$ 3,659

Long-term Debt - Long-Term De38

Long-term Debt - Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2018	Dec. 31, 2017	Jan. 28, 2016	Jan. 10, 2014	Oct. 30, 2012	Feb. 09, 2012
5 7/8% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes		5.875%				5.875%
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.00%	5.00%			5.00%
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.375%	5.375%		5.375%
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.75%	5.75%	5.75%

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail)	Mar. 19, 2018	Mar. 16, 2018USD ($)	May 15, 2017USD ($)	Jan. 28, 2016USD ($)	Jan. 10, 2014USD ($)	Oct. 30, 2012USD ($)	Feb. 09, 2012USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017
Debt Instrument [Line Items]
Proceeds received from term A loans									$ 599,250,000	$ 450,000,000
Outstanding revolving credit facility									118,000,000
Remaining borrowing capacity under revolving credit facility									319,026,000
Aggregate principal amount of debt issued									2,591,916,000
Loss on debt extinguishment								$ 71,000	15,429,000	71,000
5 7/8% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Redemption price, percentage of loan	101.958%
Interest rate on convertible notes							5.875%				5.875%
Aggregate principal amount of debt issued							$ 500,000,000
Net proceeds from the issuance of debt							$ 489,000,000
Loss on debt extinguishment									15,429,000
Loss on debt extinguishment on cash									$ 9,790,000
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate on convertible notes						5.00%			5.00%		5.00%
Aggregate principal amount of debt issued						$ 535,000,000
Net proceeds from the issuance of debt						$ 527,100,000
Redemption price percentage of the principal amount to be purchased						101.00%
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on convertible notes					5.375%				5.375%		5.375%
Aggregate principal amount of debt issued					$ 510,000,000
Net proceeds from the issuance of debt					$ 502,300,000
Redemption price percentage of the principal amount to be purchased					101.00%
5 3/8% Senior Notes [Member] | Prior to January 15, 2019 [Member]
Debt Instrument [Line Items]
Redemption percentage equal to principal amount include aggregate premium					100.00%
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on convertible notes				5.75%					5.75%		5.75%
Aggregate principal amount of debt issued				$ 400,000,000
Net proceeds from the issuance of debt				$ 394,500,000
Redemption price percentage of the principal amount to be purchased				101.00%
5 3/4% Senior Notes [Member] | Prior to February 1, 2019 [Member]
Debt Instrument [Line Items]
Redemption price, percentage of loan				105.75%
Redemption percentage of aggregate principal amount of senior notes				35.00%
Redemption percentage of issued notes which remain outstanding				65.00%
5 3/4% Senior Notes [Member] | Prior to February 1, 2021 [Member]
Debt Instrument [Line Items]
Redemption price, percentage of loan				100.00%
Letter of Credit [Member]
Debt Instrument [Line Items]
Letter of credit outstanding balance									$ 12,974,000
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Proceeds received from term A loans									599,250,000	450,000,000
Loss on debt extinguishment								$ 71,000	$ 15,429,000	$ 71,000
Term B Loan Facility [Member]
Debt Instrument [Line Items]
Amended and restated date		Mar. 16, 2018
Maximum borrowing limit of incremental loan facility		$ 600,000,000
Debt instrument maturity date		Mar. 16, 2025
Credit agreement frequency of payment and payment terms		The Term B loan began amortizing on June 30, 2018 in equal quarterly installments of $1,500 with the remainder payable at maturity
Quarterly installments, amount		$ 1,500,000
Redemption price, percentage of loan		5.875%
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility			$ 450,000,000
Debt instrument maturity date			May 15, 2022
Term A Loan Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility			$ 450,000,000
Debt instrument maturity date			May 15, 2022
Proceeds received from term A loans			$ 450,000,000
Term A Loan Facility [Member] | LIBO Rate [Member]
Debt Instrument [Line Items]
Adjusted Rate		1.75%
Ratio of indebtedness to net capital one		3.25
Ratio of indebtedness to net capital minimum		1
Term A Loan Facility [Member] | LIBO Rate [Member] | Debt Ratio Less Than Three Point Two Five [Member]
Debt Instrument [Line Items]
Adjusted Rate		1.50%
Term A Loan Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Adjusted Rate		0.75%
Ratio of indebtedness to net capital one		3.25
Ratio of indebtedness to net capital minimum		1
Term A Loan Facility [Member] | Base Rate [Member] | Debt Ratio Less Than Three Point Two Five [Member]
Debt Instrument [Line Items]
Adjusted Rate		0.50%
Term Loans [Member]
Debt Instrument [Line Items]
Debt instrument maturity date			May 15, 2022
Revolving Credit Facility [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt instrument maturity date									May 15, 2022
Revolving Credit Facility [Member] | LIBO Rate [Member]
Debt Instrument [Line Items]
Adjusted Rate		2.25%
Ratio of indebtedness to net capital one		4.25
Ratio of indebtedness to net capital minimum		1
Revolving Credit Facility [Member] | LIBO Rate [Member] | Debt Ratio Less Than Four Point Two Five [Member]
Debt Instrument [Line Items]
Adjusted Rate		2.00%
Revolving Credit Facility [Member] | LIBO Rate [Member] | Debt Ratio Less Than Three Point Zero Zero [Member]
Debt Instrument [Line Items]
Adjusted Rate		1.75%
Ratio of indebtedness to net capital one		3
Ratio of indebtedness to net capital minimum		1
Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Adjusted Rate		1.25%
Ratio of indebtedness to net capital one		4.25
Ratio of indebtedness to net capital minimum		1
Revolving Credit Facility [Member] | Base Rate [Member] | Debt Ratio Less Than Four Point Two Five [Member]
Debt Instrument [Line Items]
Adjusted Rate		1.00%
Revolving Credit Facility [Member] | Base Rate [Member] | Debt Ratio Less Than Three Point Zero Zero [Member]
Debt Instrument [Line Items]
Adjusted Rate		0.75%
Ratio of indebtedness to net capital one		3
Ratio of indebtedness to net capital minimum		1

Long-term Debt - Schedule of Ma

Long-term Debt - Schedule of Maturities of Long Term Debt (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
September 30, 2018-June 30, 2019 [Member] | Term A [Member]
Debt Instrument [Line Items]
Principal payment amount	$ 5,625
September 30, 2018-June 30, 2019 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500
September 30, 2019-June 30, 2020 [Member] | Term A [Member]
Debt Instrument [Line Items]
Principal payment amount	8,438
September 30, 2019-June 30, 2020 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500
September 30, 2020-March 31, 2022 [Member] | Term A [Member]
Debt Instrument [Line Items]
Principal payment amount	16,875
September 30, 2020-March 31, 2022 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500
Term A Loan Maturity Date [Member] | Term A [Member]
Debt Instrument [Line Items]
Principal payment amount	253,125
June 30, 2022-December 31, 2024 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500
Term B Loan Maturity Date [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	$ 559,500

Long-term Debt - Schedule of 41

Long-term Debt - Schedule of Maturities of Long Term Debt (Parenthetical) (Detail)	6 Months Ended
	Jun. 30, 2017
September 30, 2018-June 30, 2019 [Member]
Debt Instrument [Line Items]
Principal payment date	September 30, 2018-June 30, 2019
September 30, 2019-June 30, 2020 [Member]
Debt Instrument [Line Items]
Principal payment date	September 30, 2019-June 30, 2020
September 30, 2020-March 31, 2022 [Member]
Debt Instrument [Line Items]
Principal payment date	September 30, 2020-March 31, 2022
June 30, 2022-December 31, 2024 [Member]
Debt Instrument [Line Items]
Principal payment date	June 30, 2022-December 31, 2024

Fair Value of Financial Instr42

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Estimated fair value of Long-term debt (including current maturities)	$ 2,614,655
Gross amount of company's long term debt	2,591,916
Carrying amount of company's long term debt	$ 2,591,916	$ 2,585,409

Dividends_Distributions - Addit

Dividends/Distributions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Dividends [Line Items]
Dividends declared	$ 89,783	$ 81,332		$ 162,520	$ 81,534
Dividends declared, per share	$ 0.91	$ 0.83	$ 1.82	$ 1.66	$ 0.83
Distributions paid, preferred stockholders	$ 91	$ 91	$ 273	$ 182
Distributions paid, preferred stockholders, per share	$ 15.95	$ 15.95	$ 47.85	$ 31.90
Taxable Income Distribution
Dividends [Line Items]
Distributions paid			$ 260,859
Distributions paid, per share			$ 2.65

Information about Geographic 44

Information about Geographic Areas - Additional Information (Detail) - Foreign Countries [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Net carrying value of long lived assets	$ 2,903		$ 3,571
External Customers [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from external customers	$ 16,794	$ 15,555

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - Common Class A [Member] - USD ($)	6 Months Ended
	Jun. 30, 2018	May 01, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, par value	$ 0.001	$ 0.001	$ 0.001
Equity Distribution Agreement [Member]
Class of Stock [Line Items]
Common stock, shares sold	213,276
Common stock, shares available to be sold	384,929
Maximum [Member]
Class of Stock [Line Items]
Aggregate offering price of common stock issuable		$ 400,000

Divestiture of Assets - Additio

Divestiture of Assets - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Apr. 16, 2018	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Divestiture Of Assets [Line Items]
(Gain) loss on disposition of assets		$ (1,843)	$ (607)	$ 6,858	$ (1,643)
Puerto Rico [Member]
Divestiture Of Assets [Line Items]
Non-cash consideration consisting of note receivable	$ 9,500
Cash on sale of assets	$ 3,000
(Gain) loss on disposition of assets				$ 7,685

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Total current assets	$ 381,689	$ 420,519
Net property, plant and equipment	1,192,618	1,214,138
Other assets	54,386	42,886
Total assets	4,119,970	4,214,345
Current liabilities:
Current maturities of long-term debt	23,945	17,664
Total current liabilities	258,035	325,994
Long-term debt, net of deferred financing costs	2,540,955	2,539,026
Total liabilities	3,046,450	3,110,852
Stockholders’ equity	1,073,520	1,103,493
Total liabilities and stockholders’ equity	4,119,970	4,214,345
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
ASSETS
Total current assets	381,189	420,019
Net property, plant and equipment	1,192,618	1,214,138
Intangibles and goodwill, net	2,480,658	2,526,182
Other assets	48,848	37,603
Total assets	4,103,313	4,197,942
Current liabilities:
Current maturities of long-term debt	23,945	17,664
Other current liabilities	229,706	304,322
Total current liabilities	253,651	321,986
Long-term debt, net of deferred financing costs	2,540,955	2,539,026
Other noncurrent liabilities	247,460	245,832
Total liabilities	3,042,066	3,106,844
Stockholders’ equity	1,061,247	1,091,098
Total liabilities and stockholders’ equity	4,103,313	4,197,942
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
ASSETS
Total current assets	10,192	87,167
Other assets	3,671,283	3,707,352
Total assets	3,681,475	3,794,519
Current liabilities:
Current maturities of long-term debt	23,911	17,664
Other current liabilities	27,638	120,500
Total current liabilities	51,549	138,164
Long-term debt, net of deferred financing costs	2,540,870	2,539,026
Other noncurrent liabilities	27,809	26,231
Total liabilities	2,620,228	2,703,421
Stockholders’ equity	1,061,247	1,091,098
Total liabilities and stockholders’ equity	3,681,475	3,794,519
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS
Total current assets	350,468	293,536
Net property, plant and equipment	1,186,992	1,193,705
Intangibles and goodwill, net	2,460,549	2,495,370
Other assets	11,515	10,571
Total assets	4,009,524	3,993,182
Current liabilities:
Current maturities of long-term debt	34
Other current liabilities	181,783	164,393
Total current liabilities	181,817	164,393
Long-term debt, net of deferred financing costs	85
Other noncurrent liabilities	218,035	218,900
Total liabilities	399,937	383,293
Stockholders’ equity	3,609,587	3,609,889
Total liabilities and stockholders’ equity	4,009,524	3,993,182
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Total current assets	20,529	39,316
Net property, plant and equipment	5,626	20,433
Intangibles and goodwill, net	20,109	30,812
Other assets	9,497	7
Total assets	55,761	90,568
Current liabilities:
Other current liabilities	20,285	19,429
Total current liabilities	20,285	19,429
Other noncurrent liabilities	33,912	61,587
Total liabilities	54,197	81,016
Stockholders’ equity	1,564	9,552
Total liabilities and stockholders’ equity	55,761	90,568
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
ASSETS
Other assets	(3,643,447)	(3,680,327)
Total assets	(3,643,447)	(3,680,327)
Current liabilities:
Other noncurrent liabilities	(32,296)	(60,886)
Total liabilities	(32,296)	(60,886)
Stockholders’ equity	(3,611,151)	(3,619,441)
Total liabilities and stockholders’ equity	$ (3,643,447)	$ (3,680,327)

Condensed Consolidating Stateme

Condensed Consolidating Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net revenues	$ 419,800	$ 397,078	$ 780,826	$ 743,440
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Direct advertising expenses	$ 140,784	$ 135,075	$ 279,077	$ 266,919
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses	$ 69,686	$ 65,921	$ 139,894	$ 137,952
Corporate expenses	20,147	16,730	41,251	33,363
Depreciation and amortization	55,322	51,782	112,162	103,207
(Gain) loss on disposition of assets	(1,843)	(607)	6,858	(1,643)
Total Operating Expenses	284,096	268,901	579,242	539,798
Operating income	135,704	128,177	201,584	203,642
Income before income tax expense	103,944	96,127	120,840	140,113
Income tax expense	3,513	3,733	5,357	5,932
Net income	100,431	92,394	115,483	134,181
Statements of Comprehensive Income
Net income	100,431	92,394	115,483	134,181
Comprehensive income	100,154	93,139	114,663	135,069
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Net revenues	$ 419,800	$ 397,078	$ 780,826	$ 743,440
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Direct advertising expenses	$ 140,784	$ 135,075	$ 279,077	$ 266,919
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses	$ 69,686	$ 65,921	$ 139,894	$ 137,952
Corporate expenses	20,058	16,645	41,056	33,172
Depreciation and amortization	55,322	51,782	112,162	103,207
(Gain) loss on disposition of assets	(1,843)	(607)	6,858	(1,643)
Total Operating Expenses	284,007	268,816	579,047	539,607
Operating income	135,793	128,262	201,779	203,833
Interest expense (income), net	31,760	31,979	65,315	63,458
Other expenses		71	15,429	71
Income before income tax expense	104,033	96,212	121,035	140,304
Income tax expense	3,513	3,733	5,357	5,932
Net income	100,520	92,479	115,678	134,372
Statements of Comprehensive Income
Net income	100,520	92,479	115,678	134,372
Foreign currency translation adjustments	(277)	745	(820)	888
Comprehensive income	100,243	93,224	114,858	135,260
Total other comprehensive income (loss), net of tax	$ (277)	$ 745	$ (820)	$ 888
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Equity in (earnings) loss of subsidiaries	$ (132,412)	$ (124,527)	$ (196,577)	$ (197,901)
Interest expense (income), net	31,892	31,977	65,470	63,458
Other expenses		71	15,429	71
Income before income tax expense	100,520	92,479	115,678	134,372
Net income	100,520	92,479	115,678	134,372
Statements of Comprehensive Income
Net income	100,520	92,479	115,678	134,372
Comprehensive income	100,520	92,479	115,678	134,372
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Net revenues	$ 406,521	$ 384,685	$ 756,383	$ 720,488
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Direct advertising expenses	$ 134,716	$ 128,038	$ 265,840	$ 253,142
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses	$ 67,915	$ 63,500	$ 135,476	$ 133,512
Corporate expenses	19,611	16,358	40,216	32,615
Depreciation and amortization	54,231	49,634	108,580	98,882
(Gain) loss on disposition of assets	(862)	(603)	(827)	(1,640)
Total Operating Expenses	275,611	256,927	549,285	516,511
Operating income	130,910	127,758	207,098	203,977
Interest expense (income), net	(8)		(10)	(3)
Income before income tax expense	130,918	127,758	207,108	203,980
Income tax expense	2,829	3,146	3,541	4,869
Net income	128,089	124,612	203,567	199,111
Statements of Comprehensive Income
Net income	128,089	124,612	203,567	199,111
Comprehensive income	128,089	124,612	203,567	199,111
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Net revenues	$ 14,119	$ 13,414	$ 26,221	$ 24,888
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Direct advertising expenses	$ 6,770	$ 7,635	$ 14,520	$ 14,922
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses	$ 1,771	$ 2,421	$ 4,418	$ 4,440
Corporate expenses	447	287	840	557
Depreciation and amortization	1,091	2,148	3,582	4,325
(Gain) loss on disposition of assets	(981)	(4)	7,685	(3)
Total Operating Expenses	9,098	12,487	31,045	24,241
Operating income	5,021	927	(4,824)	647
Interest expense (income), net	14	425	350	794
Income before income tax expense	5,007	502	(5,174)	(147)
Income tax expense	684	587	1,816	1,063
Net income	4,323	(85)	(6,990)	(1,210)
Statements of Comprehensive Income
Net income	4,323	(85)	(6,990)	(1,210)
Foreign currency translation adjustments	(277)	745	(820)	888
Comprehensive income	4,046	660	(7,810)	(322)
Total other comprehensive income (loss), net of tax	(277)	745	(820)	888
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
Net revenues	$ (840)	$ (1,021)	$ (1,778)	$ (1,936)
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Direct advertising expenses	$ (702)	$ (598)	$ (1,283)	$ (1,145)
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Total Operating Expenses	$ (702)	$ (598)	$ (1,283)	$ (1,145)
Operating income	(138)	(423)	(495)	(791)
Equity in (earnings) loss of subsidiaries	132,412	124,527	196,577	197,901
Interest expense (income), net	(138)	(423)	(495)	(791)
Income before income tax expense	(132,412)	(124,527)	(196,577)	(197,901)
Net income	(132,412)	(124,527)	(196,577)	(197,901)
Statements of Comprehensive Income
Net income	(132,412)	(124,527)	(196,577)	(197,901)
Comprehensive income	$ (132,412)	$ (124,527)	$ (196,577)	$ (197,901)

Condensed Consolidating State49

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from investing activities:
Acquisitions	$ (16,165)	$ (28,101)
Capital expenditures	(52,473)	(47,836)
Proceeds from disposition of assets and investments	3,407	2,566
Proceeds received from property insurance claims	3,804
Decrease in notes receivable	5	11
Cash flows from financing activities:
Proceeds received from revolving credit facility	190,000	182,000
Payment on revolving credit facility	(270,000)	(334,000)
Principal payments on long term debt	(12,911)	(5,625)
Proceeds received from senior credit facility term loans	599,250	450,000
Redemption of senior subordinated notes	(509,790)
Debt issuance costs	(6,349)	(4,899)
Distributions to non-controlling interest	(241)	(310)
Payment on senior credit facility term loans		(247,500)
Effect of exchange rate changes in cash and cash equivalents	(683)	798
Net (decrease) increase in cash and cash equivalents	(95,883)	7,354
Cash and cash equivalents at beginning of period	115,471	35,530
Cash and cash equivalents at end of period	19,588	42,884
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	202,241	173,560
Cash flows from investing activities:
Acquisitions	(16,165)	(28,101)
Capital expenditures	(52,473)	(47,836)
Proceeds from disposition of assets and investments	3,407	2,566
Proceeds received from property insurance claims	3,804
Decrease in notes receivable	5	11
Net cash provided by (used in) investing activities	(61,422)	(73,360)
Cash flows from financing activities:
Proceeds received from revolving credit facility	190,000	182,000
Payment on revolving credit facility	(270,000)	(334,000)
Principal payments on long term debt	(12,911)	(5,625)
Proceeds received from senior credit facility term loans	599,250	450,000
Redemption of senior subordinated notes	(509,790)
Debt issuance costs	(6,349)	(4,899)
Distributions to non-controlling interest	(241)	(310)
Dividends (to) from parent	(264,970)	(171,517)
Contributions from (to) parent	38,992	38,207
Net cash (used in) provided by financing activities	(236,019)	(93,644)
Payment on senior credit facility term loans		(247,500)
Effect of exchange rate changes in cash and cash equivalents	(683)	798
Net (decrease) increase in cash and cash equivalents	(95,883)	7,354
Cash and cash equivalents at beginning of period	114,971	35,030
Cash and cash equivalents at end of period	19,088	42,384
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	146,324	127,087
Cash flows from investing activities:
Investment in subsidiaries	(16,165)	(28,101)
Decrease (increase) in intercompany notes receivable	28,618	(3,594)
Decrease in notes receivable	5	11
Net cash provided by (used in) investing activities	12,458	(31,684)
Cash flows from financing activities:
Proceeds received from revolving credit facility	190,000	182,000
Payment on revolving credit facility	(270,000)	(334,000)
Principal payments on long term debt	(12,897)	(5,625)
Proceeds received from senior credit facility term loans	599,250	450,000
Redemption of senior subordinated notes	(509,790)
Debt issuance costs	(6,349)	(4,899)
Dividends (to) from parent	(264,970)	(171,517)
Contributions from (to) parent	38,992	38,207
Net cash (used in) provided by financing activities	(235,764)	(93,334)
Payment on senior credit facility term loans		(247,500)
Net (decrease) increase in cash and cash equivalents	(76,982)	2,069
Cash and cash equivalents at beginning of period	86,546	12,762
Cash and cash equivalents at end of period	9,564	14,831
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	268,161	230,322
Cash flows from investing activities:
Acquisitions	(16,165)	(28,101)
Capital expenditures	(48,506)	(43,858)
Proceeds from disposition of assets and investments		2,566
Net cash provided by (used in) investing activities	(64,671)	(69,393)
Cash flows from financing activities:
Principal payments on long term debt	(14)
Dividends (to) from parent	(220,034)	(187,751)
Contributions from (to) parent	16,165	28,101
Net cash (used in) provided by financing activities	(203,883)	(159,650)
Net (decrease) increase in cash and cash equivalents	(393)	1,279
Cash and cash equivalents at beginning of period	1,625	1,201
Cash and cash equivalents at end of period	1,232	2,480
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	7,790	3,902
Cash flows from investing activities:
Capital expenditures	(3,967)	(3,978)
Proceeds from disposition of assets and investments	3,407
Proceeds received from property insurance claims	3,804
Net cash provided by (used in) investing activities	3,244	(3,978)
Cash flows from financing activities:
Intercompany loan proceeds	(28,618)	3,594
Distributions to non-controlling interest	(241)	(310)
Net cash (used in) provided by financing activities	(28,859)	3,284
Effect of exchange rate changes in cash and cash equivalents	(683)	798
Net (decrease) increase in cash and cash equivalents	(18,508)	4,006
Cash and cash equivalents at beginning of period	26,800	21,067
Cash and cash equivalents at end of period	8,292	25,073
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(220,034)	(187,751)
Cash flows from investing activities:
Investment in subsidiaries	16,165	28,101
Decrease (increase) in intercompany notes receivable	(28,618)	3,594
Net cash provided by (used in) investing activities	(12,453)	31,695
Cash flows from financing activities:
Intercompany loan proceeds	28,618	(3,594)
Dividends (to) from parent	220,034	187,751
Contributions from (to) parent	(16,165)	(28,101)
Net cash (used in) provided by financing activities	$ 232,487	$ 156,056