Lamar Advertising (LAMR) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	LAMR
Entity Registrant Name	LAMAR ADVERTISING CO/NEW
Entity Central Index Key	0001090425
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-36756
Entity Tax Identification Number	721449411
Entity Address, Address Line One	5321 Corporate Blvd.,
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70808
City Area Code	225
Local Phone Number	926-1000
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		85,956,465
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, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	LAMAR MEDIA CORP/DE
Entity Central Index Key	0000899045
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-12407
Entity Tax Identification Number	721205791
Entity Address, Address Line One	5321 Corporate Blvd.,
Entity Address, City or Town	Baton Rouge
Entity Address, State or Province	LA
Entity Address, Postal Zip Code	70808
City Area Code	225
Local Phone Number	926-1000
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Class Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		100

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 17,254	$ 21,494
Receivables, net of allowance for doubtful accounts	249,281	235,576
Prepaid lease and contract expenses		80,684
Other current assets	35,624	25,915
Total current assets	302,159	363,669
Property, plant and equipment	3,596,390	3,525,725
Less accumulated depreciation and amortization	(2,280,132)	(2,230,677)
Net property, plant and equipment	1,316,258	1,295,048
Operating lease right of use assets	1,290,963
Goodwill	1,882,553	1,919,386
Intangible assets	953,710	915,453
Other assets	53,522	51,085
Total assets	5,799,165	4,544,641
Current liabilities:
Trade accounts payable	16,152	21,246
Current maturities of long-term debt, net of deferred financing costs	209,696	204,120
Current operating lease liabilities	172,408
Accrued expenses	79,674	122,467
Deferred income	126,545	107,202
Total current liabilities	604,475	455,035
Long-term debt, net of deferred financing costs	2,762,806	2,684,568
Operating lease liabilities	1,030,915
Deferred income tax liabilities	4,717	20,734
Asset retirement obligation	224,234	222,989
Other liabilities	32,723	29,531
Total liabilities	4,659,870	3,412,857
Stockholders’ equity:
Additional paid-in capital	1,890,555	1,852,421
Accumulated comprehensive income	558	12
Accumulated deficit	(717,824)	(695,337)
Cost of shares held in treasury, 500,738 and 388,903 shares at 2019 and 2018, respectively	(34,094)	(25,412)
Stockholders’ equity	1,139,295	1,131,784
Total liabilities and stockholders’ equity	5,799,165	4,544,641
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Current assets:
Cash and cash equivalents	16,754	20,994
Receivables, net of allowance for doubtful accounts	249,281	235,576
Prepaid lease and contract expenses		80,684
Other current assets	35,624	25,915
Total current assets	301,659	363,169
Property, plant and equipment	3,596,390	3,525,725
Less accumulated depreciation and amortization	(2,280,132)	(2,230,677)
Net property, plant and equipment	1,316,258	1,295,048
Operating lease right of use assets	1,290,963
Goodwill	1,872,401	1,909,235
Intangible assets	953,242	914,984
Other assets	47,888	45,450
Total assets	5,782,411	4,527,886
Current liabilities:
Trade accounts payable	16,152	21,246
Current maturities of long-term debt, net of deferred financing costs	209,696	204,120
Current operating lease liabilities	172,408
Accrued expenses	74,127	117,300
Deferred income	126,545	107,202
Total current liabilities	598,928	449,868
Long-term debt, net of deferred financing costs	2,762,806	2,684,568
Operating lease liabilities	1,030,915
Deferred income tax liabilities	4,717	20,734
Asset retirement obligation	224,234	222,989
Other liabilities	32,723	29,531
Total liabilities	4,654,323	3,407,690
Stockholders’ equity:
Additional paid-in capital	2,961,042	2,922,907
Accumulated comprehensive income	558	12
Accumulated deficit	(1,833,512)	(1,802,723)
Stockholders’ equity	1,128,088	1,120,196
Total liabilities and stockholders’ equity	5,782,411	4,527,886
Series AA Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value
Common Class A [Member]
Stockholders’ equity:
Common stock, value	86	86
Common Class B [Member]
Stockholders’ equity:
Common stock, value	$ 14	$ 14

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Allowance for doubtful accounts	$ 13,643	$ 11,161
Current deferred financing costs	6,016	5,245
Noncurrent deferred financing costs	$ 21,368	$ 20,619
Shares held in treasury	500,738	388,903
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Allowance for doubtful accounts	$ 13,643	$ 11,161
Current deferred financing costs	6,016	5,245
Noncurrent deferred financing costs	$ 21,368	$ 20,619
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	86,190,180	85,551,595
Common stock, shares outstanding	85,689,442	85,162,692
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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net revenues	$ 448,742	$ 419,800	$ 833,199	$ 780,826
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)	$ 146,390	$ 140,784	$ 286,860	$ 279,077
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)	$ 78,416	$ 69,686	$ 157,709	$ 139,894
Corporate expenses (exclusive of depreciation and amortization)	18,674	20,147	35,703	41,251
Depreciation and amortization	61,693	55,322	123,199	112,162
(Gain) loss on disposition of assets	(537)	(1,843)	(5,161)	6,858
Total Operating Expenses	304,636	284,096	598,310	579,242
Operating income	144,106	135,704	234,889	201,584
Other expense (income)
Loss on extinguishment of debt				15,429
Interest income	(232)	(132)	(385)	(156)
Interest expense	38,322	31,892	75,917	65,471
Non-operating (Income) Expenses	38,090	31,760	75,532	80,744
Income before income tax expense	106,016	103,944	159,357	120,840
Income tax (benefit) expense	(12,380)	3,513	(10,292)	5,357
Net income	118,396	100,431	169,649	115,483
Cash dividends declared and paid on preferred stock	91	91	182	182
Net income applicable to common stock	$ 118,305	$ 100,340	$ 169,467	$ 115,301
Earnings per share:
Basic earnings per share	$ 1.18	$ 1.02	$ 1.70	$ 1.17
Diluted earnings per share	1.18	1.02	1.69	1.17
Cash dividends declared per share of common stock	$ 0.96	$ 0.91	$ 1.92	$ 1.82
Weighted average common shares used in computing earnings per share:
Weighted average common shares outstanding basic	100,012,827	98,532,110	99,862,452	98,417,467
Weighted average common shares outstanding diluted	100,222,082	98,834,588	100,058,054	98,725,475
Statements of Comprehensive Income
Net income	$ 118,396	$ 100,431	$ 169,649	$ 115,483
Other comprehensive income (loss)
Foreign currency translation adjustments	287	(277)	546	(820)
Comprehensive income	118,683	100,154	170,195	114,663
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Net revenues	$ 448,742	$ 419,800	$ 833,199	$ 780,826
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)	$ 146,390	$ 140,784	$ 286,860	$ 279,077
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)	$ 78,416	$ 69,686	$ 157,709	$ 139,894
Corporate expenses (exclusive of depreciation and amortization)	18,585	20,058	35,505	41,056
Depreciation and amortization	61,693	55,322	123,199	112,162
(Gain) loss on disposition of assets	(537)	(1,843)	(5,161)	6,858
Total Operating Expenses	304,547	284,007	598,112	579,047
Operating income	144,195	135,793	235,087	201,779
Other expense (income)
Loss on extinguishment of debt				15,429
Interest income	(232)	(132)	(385)	(156)
Interest expense	38,322	31,892	75,917	65,471
Non-operating (Income) Expenses	38,090	31,760	75,532	80,744
Income before income tax expense	106,105	104,033	159,555	121,035
Income tax (benefit) expense	(12,380)	3,513	(10,292)	5,357
Net income	118,485	100,520	169,847	115,678
Statements of Comprehensive Income
Net income	118,485	100,520	169,847	115,678
Other comprehensive income (loss)
Foreign currency translation adjustments	287	(277)	546	(820)
Comprehensive income	$ 118,772	$ 100,243	$ 170,393	$ 114,858

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Accumulated Comprehensive Income (Loss) [Member]	Accumulated Comprehensive Income (Loss) [Member]LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Beginning Balance at Dec. 31, 2017	$ 1,103,493	$ 1,091,098	$ 84	$ 14	$ (21,300)	$ 1,762,499	$ 2,832,940	$ 1,302	$ 1,302	$ (639,106)	$ (1,743,144)
Non-cash compensation	956					956
Issuance of shares of common stock through performance stock awards	11,012					11,012
Exercise of stock options	1,836					1,836
Issuance of shares of common stock through employee purchase plan	2,138					2,138
Purchase of treasury stock	(4,112)				(4,112)
Foreign currency translation	(543)							(543)
Contribution from parent		15,941					15,941
Foreign currency translations		(543)							(543)
Net income	15,052	15,158								15,052	15,158
Dividend to parent		(93,654)									(93,654)
Dividends/distributions to common shareholders	(89,542)									(89,542)
Dividends	(91)									(91)
Ending Balance at Mar. 31, 2018	1,040,199	1,028,000	84	14	(25,412)	1,778,441	2,848,881	759	759	(713,687)	(1,821,640)
Beginning Balance at Dec. 31, 2017	1,103,493	1,091,098	84	14	(21,300)	1,762,499	2,832,940	1,302	1,302	(639,106)	(1,743,144)
Foreign currency translation	(820)
Foreign currency translations		(820)
Net income	115,483	115,678
Ending Balance at Jun. 30, 2018	1,073,520	1,061,247	85	14	(25,412)	1,801,481	2,871,668	482	482	(703,130)	(1,810,903)
Beginning Balance at Mar. 31, 2018	1,040,199	1,028,000	84	14	(25,412)	1,778,441	2,848,881	759	759	(713,687)	(1,821,640)
Non-cash compensation	1,302					1,302
Exercise of stock options	5,001					5,001
Issuance of shares of common stock through employee purchase plan	1,676					1,676
Issuance of share of common stock for cash	15,062		1			15,061
Foreign currency translation	(277)							(277)
Contribution from parent		22,787					22,787
Foreign currency translations		(277)							(277)
Net income	100,431	100,520								100,431	100,520
Dividend to parent		(89,783)									(89,783)
Dividends/distributions to common shareholders	(89,783)									(89,783)
Dividends	(91)									(91)
Ending Balance at Jun. 30, 2018	1,073,520	1,061,247	85	14	(25,412)	1,801,481	2,871,668	482	482	(703,130)	(1,810,903)
Beginning Balance at Dec. 31, 2018	1,131,784	1,120,196	86	14	(25,412)	1,852,421	2,922,907	12	12	(695,337)	(1,802,723)
Non-cash compensation	1,178					1,178
Issuance of shares of common stock through performance stock awards	19,919					19,919
Exercise of stock options	7,352					7,352
Issuance of shares of common stock through employee purchase plan	2,521					2,521
Purchase of treasury stock	(8,682)				(8,682)
Foreign currency translation	259							259
Contribution from parent		30,970					30,970
Foreign currency translations		259							259
Net income	51,253	51,362								51,253	51,362
Dividend to parent		(104,597)									(104,597)
Dividends/distributions to common shareholders	(95,915)									(95,915)
Dividends	(91)									(91)
Ending Balance at Mar. 31, 2019	1,109,578	1,098,190	86	14	(34,094)	1,883,391	2,953,877	271	271	(740,090)	(1,855,958)
Beginning Balance at Dec. 31, 2018	1,131,784	1,120,196	86	14	(25,412)	1,852,421	2,922,907	12	12	(695,337)	(1,802,723)
Foreign currency translation	546
Foreign currency translations		546
Net income	169,649	169,847
Ending Balance at Jun. 30, 2019	1,139,295	1,128,088	86	14	(34,094)	1,890,555	2,961,042	558	558	(717,824)	(1,833,512)
Beginning Balance at Mar. 31, 2019	1,109,578	1,098,190	86	14	(34,094)	1,883,391	2,953,877	271	271	(740,090)	(1,855,958)
Non-cash compensation	1,425					1,425
Exercise of stock options	3,943					3,943
Issuance of shares of common stock through employee purchase plan	1,796					1,796
Foreign currency translation	287							287
Contribution from parent		7,165					7,165
Foreign currency translations		287							287
Net income	118,396	118,485								118,396	118,485
Dividend to parent		(96,039)									(96,039)
Dividends/distributions to common shareholders	(96,039)									(96,039)
Dividends	(91)									(91)
Ending Balance at Jun. 30, 2019	$ 1,139,295	$ 1,128,088	$ 86	$ 14	$ (34,094)	$ 1,890,555	$ 2,961,042	$ 558	$ 558	$ (717,824)	$ (1,833,512)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Issuance of common stock through performance stock awards		286,350		150,259
Exercise of stock options	85,379	186,521	132,898	54,480
Issuance of common stock through employee purchase plan	31,455	44,161	28,864	39,514
Common stock shares issued for cash			213,276
Purchase of treasury stock		111,835		57,619
Common stock dividends/distributions	$ 0.96	$ 0.96	$ 0.91	$ 0.91
Preferred stock dividend shares	$ 15.95	$ 15.95	$ 15.95	$ 15.95
Additional Paid-in Capital [Member]
Issuance of common stock through performance stock awards		286,350		150,259
Exercise of stock options	85,379	186,521	132,898	54,480
Issuance of common stock through employee purchase plan		44,161		39,514
Treasury Stock [Member]
Purchase of treasury stock		111,835		57,619
Accumulated Deficit [Member]
Common stock dividends/distributions	$ 0.96	$ 0.96	$ 0.91	$ 0.91
Preferred stock dividend shares	$ 15.95	$ 15.95	$ 15.95	$ 15.95

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 169,649	$ 115,483
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	123,199	112,162
Stock-based compensation	7,506	14,121
Amortization included in interest expense	2,670	2,448
(Gain) loss on disposition of assets and investments	(5,161)	6,858
Loss on extinguishment of debt		15,429
Deferred tax (benefit) expense	(15,121)	437
Provision for doubtful accounts	4,657	3,940
(Increase) decrease in:
Receivables	(19,103)	(30,891)
Prepaid lease expenses	20,173	(25,717)
Other assets	(11,108)	(4,559)
Increase (decrease) in:
Trade accounts payable	1,520	908
Accrued expenses	(13,528)	(16,956)
Operating lease liabilities	(45,836)
Other liabilities	17,532	22,121
Net cash provided by operating activities	237,049	215,784
Cash flows from investing activities:
Acquisitions	(78,141)	(16,165)
Capital expenditures	(60,560)	(52,473)
Proceeds received from property insurance claims		3,804
Proceeds from disposition of assets and investments	2,100	3,407
(Increase) decrease of notes receivable	(544)	5
Net cash (used in) provided by investing activities	(137,145)	(61,422)
Cash flows from financing activities:
Cash used for purchase of treasury stock	(8,682)	(4,112)
Net proceeds from issuance of common stock	15,612	25,723
Principal payments on long term debt	(14,421)	(12,911)
Payments on revolving credit facility	(375,000)	(270,000)
Proceeds received from revolving credit facility	220,000	190,000
Redemption of senior subordinated notes		(509,790)
Proceeds received from note offering	255,000
Proceeds received from accounts receivable securitization program	9,000
Payments on accounts receivable securitization program	(9,000)
Proceeds received from senior credit facility Term B loan		599,250
Debt issuance costs	(4,435)	(6,349)
Distributions to non-controlling interest	(285)	(241)
Dividends/distributions	(192,136)	(261,132)
Net cash used in financing activities	(104,347)	(249,562)
Effect of exchange rate changes in cash and cash equivalents	203	(683)
Net decrease in cash and cash equivalents	(4,240)	(95,883)
Cash and cash equivalents at beginning of period	21,494	115,471
Cash and cash equivalents at end of period	17,254	19,588
Supplemental disclosures of cash flow information:
Cash paid for interest	66,968	74,352
Cash paid for foreign, state and federal income taxes	9,260	5,660
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net income	169,847	115,678
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	123,199	112,162
Stock-based compensation	7,506	14,121
Amortization included in interest expense	2,670	2,448
(Gain) loss on disposition of assets and investments	(5,161)	6,858
Loss on extinguishment of debt		15,429
Deferred tax (benefit) expense	(15,121)	437
Provision for doubtful accounts	4,657	3,940
(Increase) decrease in:
Receivables	(19,103)	(30,891)
Prepaid lease expenses	20,173	(25,717)
Other assets	(11,108)	(4,549)
Increase (decrease) in:
Trade accounts payable	1,520	908
Accrued expenses	(13,528)	(16,956)
Operating lease liabilities	(45,836)
Other liabilities	(5,371)	8,373
Net cash provided by operating activities	214,344	202,241
Cash flows from investing activities:
Acquisitions	(78,141)	(16,165)
Capital expenditures	(60,560)	(52,473)
Proceeds received from property insurance claims		3,804
Proceeds from disposition of assets and investments	2,100	3,407
(Increase) decrease of notes receivable	(544)	5
Net cash (used in) provided by investing activities	(137,145)	(61,422)
Cash flows from financing activities:
Principal payments on long term debt	(14,421)	(12,911)
Payments on revolving credit facility	(375,000)	(270,000)
Proceeds received from revolving credit facility	220,000	190,000
Redemption of senior subordinated notes		(509,790)
Proceeds received from note offering	255,000
Proceeds received from accounts receivable securitization program	9,000
Payments on accounts receivable securitization program	(9,000)
Proceeds received from senior credit facility Term B loan		599,250
Debt issuance costs	(4,435)	(6,349)
Distributions to non-controlling interest	(285)	(241)
Contributions from parent	38,135	38,992
Dividend to parent	(200,636)	(264,970)
Net cash used in financing activities	(81,642)	(236,019)
Effect of exchange rate changes in cash and cash equivalents	203	(683)
Net decrease in cash and cash equivalents	(4,240)	(95,883)
Cash and cash equivalents at beginning of period	20,994	114,971
Cash and cash equivalents at end of period	16,754	19,088
Supplemental disclosures of cash flow information:
Cash paid for interest	66,968	74,352
Cash paid for foreign, state and federal income taxes	$ 9,260	$ 5,660

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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 2018 Combined Form 10-K/A. 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 2018 Combined Form 10-K/A. Certain notes are not provided for the accompanying condensed consolidated financial statements as the information in notes 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 15 and 16 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, 2019
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 The majority of our billboard, logo, and transit advertising space contracts commencing prior to January 1, 2019 are accounted for under ASC 840 and will continue to be accounted for under the topic until they are completed or modified. Advertising space contracts commencing or amended on or after January 1, 2019 which do not meet the criteria of a lease under ASC 842 are accounted for under ASC 606, Revenue Due to the transition of our advertising space contracts into ASC 606 we are now required to capitalize our costs to fulfill a contract and expense the costs over the contract period. These costs include our costs to install advertising copy onto billboards. These costs were expensed as incurred under ASC 840. During the period ended June 30, 2019, we capitalized $12,562 of costs to fulfill a contract which is included in other current assets on the Condensed Consolidated Balance Sheets, net of expensed costs of $4,258. The expensed costs are recorded in direct advertising expenses (exclusive of depreciation and amortization) in the Condensed Consolidated Statements of Income and Comprehensive Income. Revenue Recognition Advertising revenues : The majority of our revenues are derived from contracts for advertising space on billboard, logo and transit displays. Our contracts commencing prior to January 1, 2019 are accounted for under ASC 840, . The majority of our contracts amended or commencing on or after January 1, 2019 are 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 is utilizing the following practic al 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, 2019 and June 30, 2018. Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Billboard Advertising $ 393,798 $ 365,367 $ 729,993 $ 678,170 Logo Advertising 21,811 21,378 41,723 42,007 Transit Advertising 33,133 33,055 61,483 60,649 Net Revenues $ 448,742 $ 419,800 $ 833,199 $ 780,826

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	3. Leases On January 1, 2019, the Company adopted ASC 842, Leases The Company is party to various operating leases for production facilities, vehicles and sites upon which advertising structures are built, including our billboard land leases, leases of logo structures and leases of transit advertising space. The leases expire at various dates, have varying options to renew and cancel, and may contain escalation provisions. We expense our non-variable lease payments ratably over the lease term. Also, certain of our leases contain variable lease payments based on percentage of revenue or consumer price index or other inflation-based indices. The variable lease costs are expensed in the period incurred. The key estimates for our leases include (1) the discount rate used to discount the unpaid lease payment to present value and (2) lease term. Our leases generally do not include a readily determinable implicit rate, therefore, using a portfolio approach, we determine our collateralized incremental borrowing rate to discount the lease payment based on the information available at lease commencement. Our lease terms include the noncancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. During the three and six months ended June 30, 2019, we had operating lease costs of $77,816 and $155,166, respectively, and variable lease costs of $18,933 and $36,017, respectively, which are recorded in direct advertising expenses (exclusive of depreciation and amortization). Also, for the three and six months ended June 30, 2019, we recorded a loss of $193 and gain of $3,911, respectively, in (gain) loss of disposition of assets related to the amendment and termination of lease agreements. Cash payments of $180,487 were made reducing our operating lease liabilities for the six months ended June 30, 2019 and are included in cash flows provided by operating activities in the Condensed Consolidated Statements of Cash Flows. We elected the short-term lease exemption which applies to certain of our vehicle agreements. This election allows the Company to not recognize lease right of use assets (ROU assets) or lease liabilities for agreements with a term of twelve months or less. We recorded $1,097 and $2,226 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the three and six months ended June 30, 2019, respectively. Our operating leases have a weighted-average remaining lease term of 12.0 years. The weighted-average discount rate of our operating leases is 4.85%. Also, during the period ended June 30, 2019, we obtained $8,671 of leased assets in exchange for new operating lease liabilities. The following is a summary of the maturities of our operating lease liabilities as of June 30, 2019: 2019 $ 105,835 2020 202,776 2021 176,523 2022 154,795 2023 131,925 Thereafter 829,245 Total undiscounted operating lease payments 1,601,099 Less: Imputed interest (397,776 ) Total operating lease liabilities $ 1,203,323 The following is a summary of minimum annual rental payments required under our operating lease that have original or remaining lease terms in excess of one year as of December 31, 2018: 2019 $ 254,866 2020 $ 188,138 2021 $ 165,642 2022 $ 144,814 2023 $ 122,814 Thereafter $ 819,004

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Acquisitions	4. Acquisitions Six months ended June 30, 2019 During the six months ended June 30, 2019, the Company completed several acquisitions of outdoor advertising assets for a net purchase price of $78,141. This amount includes $79,451 of outdoor advertising assets purchased in 2019, offset by $1,310 in post-closing adjustments to acquired working capital related to the purchase of Fairway in 2018. Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition costs have been allocated to assets acquired and liabilities assumed based on fair market value at the dates of acquisition. The following is a summary of the allocation of the acquisition costs in the above transactions. Total Property, plant and equipment $ 16,094 Site locations 54,386 Non-competition agreements 150 Customer lists and contracts 9,166 Asset acquisition costs 583 Current assets 736 Current liabilities (164 ) Other liabilities (1,500 ) $ 79,451 Total acquired intangible assets for the six months ended June 30, 2019 were $64,285, of which $0 was assigned to goodwill. The acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $9,166 (7 year weighted average useful life) and site locations of $54,386 (15 year weighted average useful life). The aggregate amortization expense related to the 2019 acquisitions for the six months ended June 30, 2019 was approximately $1,592. Year Ended December 31, 2018 During the twelve months ended December 31, 2018, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of $489,671, net of acquired cash of $8,554. The total purchase price consisted of the issuance of 163,137 shares of its Class A common stock for $12,282 and cash of $477,389. The purchases included the acquisition of assets in five U.S markets from Fairway Outdoor Advertising (“Fairway”) on December 21, 2018 for an aggregate purchase price of $418,500. As of June 30, 2019, our fair value allocation of the assets acquired and liabilities assumed from Fairway is still considered preliminary and is subject to revision, which may result in adjustments to this allocation. We expect to finalize these amounts as soon as possible but not later than the end of 2019. In order to develop our updated preliminary fair values, the Company utilized a third party valuation firm to develop a fair value model which is currently under review by Management. Our updated preliminary fair value allocation of Fairway as of June 30, 2019 includes property, plant and equipment, intangibles and goodwill of $99,386, $186,130 and $145,188, respectively. As of June 30, 2019, goodwill was adjusted $36,929 due to updates from the original preliminary allocation provided as of December 31, 2018. The updated preliminary allocation resulted in prior and current period changes to depreciation and amortization. These changes were considered immaterial and recorded during the six months ended June 30, 2019. As of June 30, 2019 assets purchased from Fairway which were initially placed into our taxable REIT subsidiary were transferred to our qualifying REIT subsidiary, as a result the Company wrote off $17,031 in deferred tax liabilities assumed from our purchase. Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition costs have been allocated to assets acquired and liabilities assumed based on fair market value at the dates of acquisition. The following is a summary of the allocation of the acquisition costs in the above transactions, excluding the preliminary allocation of Fairway. Total Property, plant and equipment $ 8,648 Site locations 57,105 Non-competition agreements 342 Customer lists and contracts 6,521 Asset acquisition costs 336 Current assets 1,041 Current liabilities (355 ) $ 73,638 Total acquired intangible assets for the year ended December 31, 2018 were $402,740, of which $182,117 was assigned to goodwill. Goodwill is not amortized for financial statement purposes, and no goodwill related to 2018 acquisitions is expected to be deductible for tax purposes. The remaining $220,623 of acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $33,310 (7 year weighted average useful life) and site locations of $186,635 (15 year weighted average useful life). The aggregate amortization expense related to the 2018 acquisitions for the year ended December 31, 2018 was approximately $2,681.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	5. Stock-Based Compensation Equity Incentive Plan. Lamar Advertising’s 1996 Equity Incentive Plan, as amended, (the “Incentive Plan”) has reserved 17.5 million shares of Class A common stock for issuance to directors and employees, including shares underlying granted options and common stock reserved for issuance under its performance-based incentive program. Options granted under the plan expire ten years from the grant date with vesting terms ranging from three to five years and include 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date. All grants are made at fair market value based on the closing price of our Class A common stock as reported on the Nasdaq Global Select Market on the date of grant. We use a Black-Scholes-Merton option pricing model to estimate the fair value of share-based awards. The Black-Scholes-Merton option pricing model incorporates various and highly subjective assumptions, including expected term and expected volatility. The Company granted options for an aggregate of 81,000 shares of its Class A common stock during the six months ended June 30, 2019. At June 30, 2019 a total of 2,714,981 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 85,162 shares on January 1, 2019 pursuant to the automatic increase provisions of the 2009 ESPP. The 2009 ESPP expired by its terms on June 30, 2019. On May 30, 2019, our shareholders approved Lamar Advertising’s 2019 Employee Stock Purchase Plan or the 2019 ESPP. The 2019 ESPP became effective upon the expiration of the 2009 ESPP. The number of shares of Class A common stock available for issuance under the 2019 ESPP consists of (1) 300,000 shares of Class A common stock and (2) any shares of Class A common stock available for future purchase under the 2009 ESPP at June 30, 2019. The following is a summary of 2009 and 2019 ESPP share activity for the six months ended June 30, 2019: Shares Available for future purchases, January 1, 2019 183,244 Additional shares reserved under 2009 ESPP 85,162 Additional shares reserved under 2019 ESPP 300,000 Purchases (75,617 ) Available for future purchases, June 30, 2019 492,789 Performance-based compensation. Unrestricted shares of our Class A common stock may be awarded to key officers, employees and directors under the Incentive Plan. The number of shares to be issued, if any, will be dependent on the level of achievement of performance measures for key officers and employees, as determined by the Company’s Compensation Committee based on our 2019 results. Any shares issued based on the achievement of performance goals will be issued in the first quarter of 2020. 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, 2019, the Company has recorded $4,955 as stock-based compensation expense related to performance-based awards. In addition, each non-employee director automatically receives a restricted stock award of our Class A common stock upon election or re-election. The awards vest 50% on grant date and 50% on the last day of the directors’ one year term. The Company recorded a $326 stock-based compensation expense related to these awards for the six months ended June 30, 2019.

Depreciation and Amortization

Depreciation and Amortization	6 Months Ended
	Jun. 30, 2019
Depreciation And Amortization [Abstract]
Depreciation and Amortization	6. 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, 2019 2018 2019 2018 Direct advertising expenses $ 58,200 $ 51,457 $ 116,315 $ 104,473 General and administrative expenses 1,140 1,012 2,261 2,007 Corporate expenses 2,353 2,853 4,623 5,682 $ 61,693 $ 55,322 $ 123,199 $ 112,162

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	7. Goodwill and Other Intangible Assets The following is a summary of intangible assets at June 30, 2019 and December 31, 2018: Estimated June 30, 2019 December 31, 2018 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer lists and contracts 7—10 $ 627,836 $ 527,034 $ 610,376 $ 514,928 Non-competition agreements 3—15 65,924 64,247 65,771 64,119 Site locations 15 2,305,338 1,465,416 2,228,767 1,422,794 Other 2—15 46,575 35,266 45,992 33,612 $ 3,045,673 $ 2,091,963 $ 2,950,906 $ 2,035,453 Unamortizable intangible assets: Goodwill $ 2,136,089 $ 253,536 $ 2,172,922 $ 253,536

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	8. 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, 2018 $ 222,989 Additions to asset retirement obligations 1,024 Accretion expense 2,080 Liabilities settled (1,859 ) Balance at June 30, 2019 $ 224,234

Distribution Restrictions

Distribution Restrictions	6 Months Ended
	Jun. 30, 2019
Distribution Restrictions [Abstract]
Distribution Restrictions	9. 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, 2019 and December 31, 2018, Lamar Media was permitted under the terms of its outstanding senior subordinated and senior notes to make transfers to Lamar Advertising in the form of cash dividends, loans or advances in amounts up to $3,225,011 and $3,156,061, respectively. 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, 2019, 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 $ 1,975,490 .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	10. 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, 2019 or 2018.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-term Debt	11. Long-term Debt Long-term debt consists of the following at June 30, 2019 and December 31, 2018: June 30, 2019 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,121,891 $ 10,456 $ 1,111,435 Accounts Receivable Securitization Program 175,000 1,050 173,950 5% Senior Subordinated Notes 535,000 3,676 531,324 5 3/8% Senior Notes 510,000 3,887 506,113 5 3/4% Senior Notes 654,702 8,315 646,387 Other notes with various rates and terms 3,293 — 3,293 2,999,886 27,384 2,972,502 Less current maturities (215,712 ) (6,016 ) (209,696 ) Long-term debt, excluding current maturities $ 2,784,174 $ 21,368 $ 2,762,806 December 31, 2018 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,291,088 $ 11,576 $ 1,279,512 Accounts Receivable Securitization Program 175,000 1,168 173,832 5% Senior Subordinated Notes 535,000 4,104 530,896 5 3/8% Senior Notes 510,000 4,262 505,738 5 3/4% Senior Notes 400,000 4,754 395,246 Other notes with various rates and terms 3,464 — 3,464 2,914,552 25,864 2,888,688 Less current maturities (209,365 ) (5,245 ) (204,120 ) Long-term debt, excluding current maturities $ 2,705,187 $ 20,619 $ 2,684,568 Senior Credit Facility Lamar Media’s Third Amended and Restated Credit Agreement dated as of May 15, 2017 (as amended, the “senior credit facility”) originally consisted of (i) a $450,000 senior secured revolving credit facility which will mature on May 15, 2022 (the “revolving credit facility”), (ii) a $450,000 Term A loan facility (the “Term A loans”) which will mature on May 15, 2022, and (iii) 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 (the “Incremental Facility”). Lamar Media borrowed all $450,000 in Term A loans on May 15, 2017. The net proceeds of the Term A loans, 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. On March 16, 2018, Lamar Media entered into Amendment No. 1 to the Third Amended and Restated Credit Agreement dated May 15, 2017, which amended 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. Lamar Media 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. On January 17, 2019, Lamar Media entered into an incremental amendment to the senior credit facility to include $100,000 in additional revolving commitments, thereby increasing the total borrowing capacity under the revolving credit facility to $550,000. As of June 30, 2019, the senior credit facility consisted of (i) the revolving credit facility, (ii) the Term A loans, (iii) the Term B loans and (iv) the Incremental Facility. 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 September 30, December 31, March 31 and June 30 as follows: Principal Payment Date Term A Term B September 30, 2019-June 30, 2020 $ 8,437.5 $ 1,500.0 September 30, 2020-March 31, 2022 $ 16,875.0 $ 1,500.0 Term A Loan Maturity May 15, 2022 $ 253,125.0 $ — June 30, 2022-December 31, 2024 $ — $ 1,500.0 Term B Loan Maturity March 16, 2025 $ — $ 559,500.0 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 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 and other terms of the senior credit facility apply to the Term A and B loans and revolving credit facility. As of June 30, 2019, there was $125,000 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 $13,107 in letters of credit outstanding as of June 30, 2019 resulting in $411,893 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; • ma ke 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. Accounts Receivable Securitization Program On December 18, 2018 Lamar Media entered into a $175,000 Receivable Financing Agreement (the “AR Program”) with its wholly-owned special purpose entities, Lamar QRS Receivables, LLC and Lamar TRS Receivables, LLC (the “Special Purpose Subsidiaries”) maturing on December 17, 2021. The AR Program is limited to the availability of eligible accounts receivable collateralizing the borrowings under the agreements governing the AR Program. Pursuant to two separate Purchase and Sale Agreements dated December 18, 2018, each of which is among Lamar Media as initial Servicer, certain of Lamar Media’s subsidiaries and a Special Purpose Subsidiary, the subsidiaries sold substantially all of their existing and future accounts receivable balances to the Special Purpose Subsidiaries. The Special Purpose Subsidiaries use the accounts receivable balances to collateralize loans pursuant to the AR Program. Lamar Media retains the responsibility of servicing the accounts receivable balances pledged as collateral under the AR Program and provides a performance guaranty. As of June 30, 2019 there was $175,000 outstanding on the AR Program bearing interest at approximately 3.8%. The commitment fee based on the amount of unused commitments under the AR Program was immaterial during the six months ended June 30, 2019. The AR Program is accounted for as a collateralized financing activity, rather than a sale of assets, and therefore: (i) accounts receivable balances pledged as collateral are presented as assets and the borrowings are presented as liabilities on our Condensed Consolidated Balance Sheets, (ii) our Condensed Consolidated Statements of Income and Comprehensive Income reflect the associated charges for bad debt expense (a component of general and administrative expenses) related to the pledged accounts receivable and interest expense associated with the collateralized borrowings and (iii) receipts from customers related to the underlying accounts receivable are reflected as operating cash flows and borrowings and repayments under the collateralized loans are reflected as financing cash flows within our Condensed Consolidated Statements of Cash Flows. 5 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% Senior Subordinated Notes (the “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. 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. 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 on January 28, 2016 resulted in net proceeds to Lamar Media of approximately $394,500. On February 1, 2019, Lamar Media completed an institutional private placement of an additional $250,000 aggregate principal amount under its 5 3/4% Notes (the “New Notes”). Other than with respect to the date of issuance, issue price and CUSIP number, the New Notes have the same terms as the 5 3/4% Notes. The net proceeds after underwriting fees and expenses, was approximately $251,500 and were used to repay a portion of the borrowings outstanding under the revolving credit facility. At any time prior to February 1, 2021, Lamar Media may redeem some or all of the 5 3/4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon plus a make-whole premium. On or after February 1, 2021, Lamar Media may redeem the 5 3/4% Notes, in whole or in part, in cash at redemption prices specified in the 5 3/4% Notes. In addition, if the Company or Lamar Media undergoes a change of control, Lamar Media may be required to make an offer to purchase each holder’s 5 3/4% Notes at a price equal to 101% of the principal amount of the 5 3/4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	12. Fair Value of Financial Instruments At June 30, 2019 and December 31, 2018, the Company’s financial instruments included cash and cash equivalents, marketable securities, accounts receivable, investments, accounts payable and borrowings. The fair values of cash and cash equivalents, accounts receivable, accounts payable and short-term borrowings and current portion of long-term debt approximated carrying values because of the short-term nature of these instruments. Investment contracts are reported at fair values. Fair values for investments held at cost are not readily available, but are estimated to approximate fair value. The estimated fair value of the Company’s long-term debt (including current maturities) was $3,057,277 which exceeded the carrying amount of $2,999,886 as of June 30, 2019. 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, 2019
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
New Accounting Pronouncements	13. New Accounting Pronouncements Leases In February 2016, the FASB established Topic 842, Leases Land Easement Practical Expedient for Transition to Topic 842 Codification Improvements to Topic 842 Leases Targeted Improvements sheet for all leases with a term longer than 12 months . Leases are classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. We adopted the new standard effective January 1, 2019 using a modified retrospective transition approach, applying the new standard to all leases existing at the date of initial application. An entity was permitted to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statements as its date of initial application. If an entity chooses the second option, the transition requirements for existing leases also apply to leases entered into between the date of initial application and the effective date. The entity must also recast its comparative period financial statements and provide the disclosures required by the new standard for the comparative periods. Consequently, financial information was not updated and the disclosures required under the new standard will not be provided for dates and periods before January 1, 2019. The new standard provided a number of optional practical expedients in transition. We elected the ‘package of practical expedients’, which permitted us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We elected the practical expedient pertaining to land easements. We also elected the short-term lease recognition exemption for certain of our vehicle agreements. This means, for those leases that qualify, we will not recognize ROU assets or lease liabilities. Upon adoption, we recognized additional operating liabilities of $1.2 billion, with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under current leasing standards for our existing operating leases. In addition to the increase to the operating lease liabilities and right-of-use assets, Topic 842 also resulted in reclassifying the presentation of prepaid and deferred rent to operating lease right-of-use assets. Other recently released pronouncements In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and other (Topic 350): Simplifying the test for goodwill impairment. In November 2018, the FASB issued ASU No. 2018-18, Collaborative Arrangements (Topic 808). In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326

Dividends_Distributions

Dividends/Distributions	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Dividends/Distributions	14. Dividends/Distributions During the three and six months ended June 30, 2019, the Company declared and paid cash distributions of its REIT taxable income in an aggregate amount of $96,039 or $0.96 per share and $191,954 or $1.92 per share, respectively. During the three and six months ended June 30, 2018, the Company paid cash distributions of its REIT taxable income in the amount of $89,783 or $0.91 per share and $260,859 or $2.65 per share, respectively. The distributions paid during the six months ended June 30, 2018 include distributions declared during the reporting period of $ 179,325 or $ 1.82 per share, as well as distributions declared and accrued as of December 31, 2017 of $ 81,534 or $ 0.83 per share. 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, inc luding 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 instru ments, 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 oth er factors that the Board of Directors may deem relevant. During the three and six months ended June 30, 2019, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $ 91 or $ 15.95 per share an d $ 182 or $ 31.90 per share, respectively. During the three months ended June 30, 2018, 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 mont hs 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, which included distributions declared during the period as well as those declared and a ccrued in the fourth quarter of 2017.

Information about Geographic Ar

Information about Geographic Areas	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Information about Geographic Areas	15. Information about Geographic Areas Revenues from external customers attributable to foreign countries totaled $17,057 and $16,794 for the six months ended June 30, 2019 and 2018, respectively. Net carrying value of long lived assets located in foreign countries totaled $3,407 and $2,387 as of June 30, 2019 and December 31, 2018, respectively. All other revenues from external customers and long lived assets relate to domestic operations.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	16. Stockholders’ Equity On May 1, 2018, the Company entered into an equity distribution agreement (the “Sales Agreement”) with J.P. Morgan Securities LLC, Wells Fargo Securities LLC, and SunTrust Robinson Humphrey, Inc. as its sales agents (each a “Sales Agent”, and collectively, the “Sales Agents”). Under the terms of the Sales Agreement, the Company may, from time to time, issue and sell shares of its Class A common stock, having an aggregate offering price of up to $400,000, through the Sales Agents as either agents or principals. As of June 30, 2019, 576,002 shares of our Class A Common Stock have been sold under the Sales Agreement and accordingly $357,885 remained available to be sold under the Sales Agreement as of June 30, 2019. Sales of the Class A Common Stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at-the-market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Global Select Market and any other existing trading market for the Class A Common Stock, or sales made to or through a market maker other than on an exchange. The Company has no obligation to sell any of the Class A Common Stock under the Sales Agreement and may at any time suspend solicitations and offers under the Sales Agreement. On August 6, 2018, the Company filed an automatically effective shelf registration statement that registered the offer and sale of an indeterminate amount of additional shares of our Class A common stock. As of December 31, 2018 the Company issued 163,137 shares of its Class A common stock in connection with acquisitions occurring during the period. The Company filed a prospectus supplement to the shelf registration statement relating to the offer and resale of such shares of Class A common stock. There were no additional shares issued under this shelf registration during the six months ended June 30, 2019.

Summarized Financial Informatio

Summarized Financial Information of Subsidiaries	6 Months Ended
	Jun. 30, 2019
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, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) ASSETS Total current assets $ 9,094 $ 49,217 $ 243,348 $ — $ 301,659 Net property, plant and equipment — 1,309,748 6,510 — 1,316,258 Operating lease right of use assets — 1,259,256 31,707 — 1,290,963 Intangibles and goodwill, net — 2,806,868 18,775 — 2,825,643 Other assets 4,144,125 236,530 184,456 (4,517,223 ) 47,888 Total assets $ 4,153,219 $ 5,661,619 $ 484,796 $ (4,517,223 ) $ 5,782,411 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current maturities of long-term debt $ 34,662 $ 34 $ 175,000 $ — $ 209,696 Other current liabilities 23,375 339,244 26,613 — 389,232 Total current liabilities 58,037 339,278 201,613 — 598,928 Long-term debt 2,762,755 51 — — 2,762,806 Other noncurrent liabilities 204,339 1,238,805 274,735 (425,290 ) 1,292,589 Total liabilities 3,025,131 1,578,134 476,348 (425,290 ) 4,654,323 Stockholders’ equity 1,128,088 4,083,485 8,448 (4,091,933 ) 1,128,088 Total liabilities and stockholders’ equity $ 4,153,219 $ 5,661,619 $ 484,796 $ (4,517,223 ) $ 5,782,411 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, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 4,653 $ 121,549 $ 236,967 $ — $ 363,169 Net property, plant and equipment — 1,289,348 5,700 — 1,295,048 Intangibles and goodwill, net — 2,804,915 19,304 — 2,824,219 Other assets 4,056,288 230,504 184,247 (4,425,589 ) 45,450 Total assets $ 4,060,941 $ 4,446,316 $ 446,218 $ (4,425,589 ) $ 4,527,886 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ 29,086 $ 34 $ 175,000 $ — $ 204,120 Other current liabilities 27,067 204,103 14,578 — 245,748 Total current liabilities 56,153 204,137 189,578 — 449,868 Long-term debt 2,684,500 68 — — 2,684,568 Other noncurrent liabilities 200,092 246,312 251,835 (424,985 ) 273,254 Total liabilities 2,940,745 450,517 441,413 (424,985 ) 3,407,690 Stockholders’ equity 1,120,196 3,995,799 4,805 (4,000,604 ) 1,120,196 Total liabilities and stockholders’ equity $ 4,060,941 $ 4,446,316 $ 446,218 $ (4,425,589 ) $ 4,527,886 LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended June 30, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 437,074 $ 12,498 $ (830 ) $ 448,742 Operating expenses Direct advertising expenses (1) — 140,108 7,112 (830 ) 146,390 General and administrative expenses (1) — 76,475 1,941 — 78,416 Corporate expenses (1) — 18,274 311 — 18,585 Depreciation and amortization — 61,031 662 — 61,693 (Gain) loss on disposition of assets — (550 ) 13 — (537 ) — 295,338 10,039 (830 ) 304,547 Operating income — 141,736 2,459 — 144,195 Equity in (earnings) loss of subsidiaries (155,336 ) — — 155,336 — Interest expense (income), net 36,851 (82 ) 1,321 — 38,090 Income (loss) before income tax expense 118,485 141,818 1,138 (155,336 ) 106,105 Income tax (benefit) expense (2) — (13,231 ) 851 — (12,380 ) Net income (loss) $ 118,485 $ 155,049 $ 287 $ (155,336 ) $ 118,485 Statement of Comprehensive Income Net income (loss) $ 118,485 $ 155,049 $ 287 $ (155,336 ) $ 118,485 Total other comprehensive income, net of tax — — 287 — 287 Total comprehensive income (loss) $ 118,485 $ 155,049 $ 574 $ (155,336 ) $ 118,772 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the 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 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 Six Months Ended June 30, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 811,655 $ 23,024 $ (1,480 ) $ 833,199 Operating expenses Direct advertising expenses (1) — 274,858 13,482 (1,480 ) 286,860 General and administrative expenses (1) — 154,132 3,577 — 157,709 Corporate expenses (1) — 34,897 608 — 35,505 Depreciation and amortization — 121,864 1,335 — 123,199 Gain on disposition of assets — (1,010 ) (4,151 ) — (5,161 ) — 584,741 14,851 (1,480 ) 598,112 Operating income — 226,914 8,173 — 235,087 Equity in (earnings) loss of subsidiaries (242,710 ) — — 242,710 — Interest expense (income), net 72,863 (87 ) 2,756 — 75,532 Income (loss) before income tax expense 169,847 227,001 5,417 (242,710 ) 159,555 Income tax (benefit) expense (2) — (12,612 ) 2,320 — (10,292 ) Net income (loss) $ 169,847 $ 239,613 $ 3,097 $ (242,710 ) $ 169,847 Statement of Comprehensive Income Net income (loss) $ 169,847 $ 239,613 $ 3,097 $ (242,710 ) $ 169,847 Total other comprehensive income, net of tax — — 546 — 546 Total comprehensive income (loss) $ 169,847 $ 239,613 $ 3,643 $ (242,710 ) $ 170,393 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating 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 Statement of Cash Flows for the Six Months Ended June 30, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 158,778 $ 287,842 $ (2,208 ) $ (230,068 ) $ 214,344 Cash flows from investing activities: Acquisitions — (78,141 ) — — (78,141 ) Capital expenditures — (59,193 ) (1,367 ) — (60,560 ) Proceeds from disposition of assets and investments — 2,100 — — 2,100 Investment in subsidiaries (78,141 ) — — 78,141 — Decrease (increase) in intercompany notes receivable 5,161 — — (5,161 ) — Increase in notes receivable (127 ) (417 ) — — (544 ) Net cash (used in) provided by investing activities (73,107 ) (135,651 ) (1,367 ) 72,980 (137,145 ) Cash flows from financing activities: Proceeds received from revolving credit facility 220,000 — — — 220,000 Payment on revolving credit facility (375,000 ) — — — (375,000 ) Principal payments on long-term debt (14,421 ) — — — (14,421 ) Proceeds received from note offering 255,000 — — — 255,000 Payment on accounts receivable securitization program — — (9,000 ) — (9,000 ) Proceeds received from accounts receivable securitization program — — 9,000 — 9,000 Debt issuance costs (4,435 ) — — — (4,435 ) Intercompany loan proceeds — (8,461 ) 3,300 5,161 — Distributions to non-controlling interest — — (285 ) — (285 ) Dividends (to) from parent (200,636 ) (230,068 ) — 230,068 (200,636 ) Contributions from (to) parent 38,135 78,141 — (78,141 ) 38,135 Net cash (used in) provided by financing activities (81,357 ) (160,388 ) 3,015 157,088 (81,642 ) Effect of exchange rate changes in cash and cash equivalents — — 203 — 203 Net increase (decrease) in cash and cash equivalents 4,314 (8,197 ) (357 ) — (4,240 ) Cash and cash equivalents at beginning of period 4,029 11,655 5,310 — 20,994 Cash and cash equivalents at end of period $ 8,343 $ 3,458 $ 4,953 $ — $ 16,754 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

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 and June 30, 2018. Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Billboard Advertising $ 393,798 $ 365,367 $ 729,993 $ 678,170 Logo Advertising 21,811 21,378 41,723 42,007 Transit Advertising 33,133 33,055 61,483 60,649 Net Revenues $ 448,742 $ 419,800 $ 833,199 $ 780,826

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Summary of Maturities of Operating Lease Liabilities	The following is a summary of the maturities of our operating lease liabilities as of June 30, 2019: 2019 $ 105,835 2020 202,776 2021 176,523 2022 154,795 2023 131,925 Thereafter 829,245 Total undiscounted operating lease payments 1,601,099 Less: Imputed interest (397,776 ) Total operating lease liabilities $ 1,203,323 The following is a summary of minimum annual rental payments required under our operating lease that have original or remaining lease terms in excess of one year as of December 31, 2018: 2019 $ 254,866 2020 $ 188,138 2021 $ 165,642 2022 $ 144,814 2023 $ 122,814 Thereafter $ 819,004

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2019
2019 Acquisitions [Member]
Summary of Allocation of Acquisition Costs	The following is a summary of the allocation of the acquisition costs in the above transactions. Total Property, plant and equipment $ 16,094 Site locations 54,386 Non-competition agreements 150 Customer lists and contracts 9,166 Asset acquisition costs 583 Current assets 736 Current liabilities (164 ) Other liabilities (1,500 ) $ 79,451
2018 Acquisitions Excluding Fairway Assets [Member]
Summary of Allocation of Acquisition Costs	The following is a summary of the allocation of the acquisition costs in the above transactions, excluding the preliminary allocation of Fairway. Total Property, plant and equipment $ 8,648 Site locations 57,105 Non-competition agreements 342 Customer lists and contracts 6,521 Asset acquisition costs 336 Current assets 1,041 Current liabilities (355 ) $ 73,638

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of ESPP Share Activity	The following is a summary of 2009 and 2019 ESPP share activity for the six months ended June 30, 2019: Shares Available for future purchases, January 1, 2019 183,244 Additional shares reserved under 2009 ESPP 85,162 Additional shares reserved under 2019 ESPP 300,000 Purchases (75,617 ) Available for future purchases, June 30, 2019 492,789

Depreciation and Amortization (

Depreciation and Amortization (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 2018 2019 2018 Direct advertising expenses $ 58,200 $ 51,457 $ 116,315 $ 104,473 General and administrative expenses 1,140 1,012 2,261 2,007 Corporate expenses 2,353 2,853 4,623 5,682 $ 61,693 $ 55,322 $ 123,199 $ 112,162

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following is a summary of intangible assets at June 30, 2019 and December 31, 2018: Estimated June 30, 2019 December 31, 2018 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable intangible assets: Customer lists and contracts 7—10 $ 627,836 $ 527,034 $ 610,376 $ 514,928 Non-competition agreements 3—15 65,924 64,247 65,771 64,119 Site locations 15 2,305,338 1,465,416 2,228,767 1,422,794 Other 2—15 46,575 35,266 45,992 33,612 $ 3,045,673 $ 2,091,963 $ 2,950,906 $ 2,035,453 Unamortizable intangible assets: Goodwill $ 2,136,089 $ 253,536 $ 2,172,922 $ 253,536

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2018 $ 222,989 Additions to asset retirement obligations 1,024 Accretion expense 2,080 Liabilities settled (1,859 ) Balance at June 30, 2019 $ 224,234

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following at June 30, 2019 and December 31, 2018: June 30, 2019 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,121,891 $ 10,456 $ 1,111,435 Accounts Receivable Securitization Program 175,000 1,050 173,950 5% Senior Subordinated Notes 535,000 3,676 531,324 5 3/8% Senior Notes 510,000 3,887 506,113 5 3/4% Senior Notes 654,702 8,315 646,387 Other notes with various rates and terms 3,293 — 3,293 2,999,886 27,384 2,972,502 Less current maturities (215,712 ) (6,016 ) (209,696 ) Long-term debt, excluding current maturities $ 2,784,174 $ 21,368 $ 2,762,806 December 31, 2018 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,291,088 $ 11,576 $ 1,279,512 Accounts Receivable Securitization Program 175,000 1,168 173,832 5% Senior Subordinated Notes 535,000 4,104 530,896 5 3/8% Senior Notes 510,000 4,262 505,738 5 3/4% Senior Notes 400,000 4,754 395,246 Other notes with various rates and terms 3,464 — 3,464 2,914,552 25,864 2,888,688 Less current maturities (209,365 ) (5,245 ) (204,120 ) Long-term debt, excluding current maturities $ 2,705,187 $ 20,619 $ 2,684,568
Schedule of Maturities of Long Term Debt	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 September 30, December 31, March 31 and June 30 as follows: Principal Payment Date Term A Term B September 30, 2019-June 30, 2020 $ 8,437.5 $ 1,500.0 September 30, 2020-March 31, 2022 $ 16,875.0 $ 1,500.0 Term A Loan Maturity May 15, 2022 $ 253,125.0 $ — June 30, 2022-December 31, 2024 $ — $ 1,500.0 Term B Loan Maturity March 16, 2025 $ — $ 559,500.0

Summarized Financial Informat_2

Summarized Financial Information of Subsidiaries (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	6 Months Ended
	Jun. 30, 2019
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, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) ASSETS Total current assets $ 9,094 $ 49,217 $ 243,348 $ — $ 301,659 Net property, plant and equipment — 1,309,748 6,510 — 1,316,258 Operating lease right of use assets — 1,259,256 31,707 — 1,290,963 Intangibles and goodwill, net — 2,806,868 18,775 — 2,825,643 Other assets 4,144,125 236,530 184,456 (4,517,223 ) 47,888 Total assets $ 4,153,219 $ 5,661,619 $ 484,796 $ (4,517,223 ) $ 5,782,411 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Current maturities of long-term debt $ 34,662 $ 34 $ 175,000 $ — $ 209,696 Other current liabilities 23,375 339,244 26,613 — 389,232 Total current liabilities 58,037 339,278 201,613 — 598,928 Long-term debt 2,762,755 51 — — 2,762,806 Other noncurrent liabilities 204,339 1,238,805 274,735 (425,290 ) 1,292,589 Total liabilities 3,025,131 1,578,134 476,348 (425,290 ) 4,654,323 Stockholders’ equity 1,128,088 4,083,485 8,448 (4,091,933 ) 1,128,088 Total liabilities and stockholders’ equity $ 4,153,219 $ 5,661,619 $ 484,796 $ (4,517,223 ) $ 5,782,411 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, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 4,653 $ 121,549 $ 236,967 $ — $ 363,169 Net property, plant and equipment — 1,289,348 5,700 — 1,295,048 Intangibles and goodwill, net — 2,804,915 19,304 — 2,824,219 Other assets 4,056,288 230,504 184,247 (4,425,589 ) 45,450 Total assets $ 4,060,941 $ 4,446,316 $ 446,218 $ (4,425,589 ) $ 4,527,886 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ 29,086 $ 34 $ 175,000 $ — $ 204,120 Other current liabilities 27,067 204,103 14,578 — 245,748 Total current liabilities 56,153 204,137 189,578 — 449,868 Long-term debt 2,684,500 68 — — 2,684,568 Other noncurrent liabilities 200,092 246,312 251,835 (424,985 ) 273,254 Total liabilities 2,940,745 450,517 441,413 (424,985 ) 3,407,690 Stockholders’ equity 1,120,196 3,995,799 4,805 (4,000,604 ) 1,120,196 Total liabilities and stockholders’ equity $ 4,060,941 $ 4,446,316 $ 446,218 $ (4,425,589 ) $ 4,527,886
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, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 437,074 $ 12,498 $ (830 ) $ 448,742 Operating expenses Direct advertising expenses (1) — 140,108 7,112 (830 ) 146,390 General and administrative expenses (1) — 76,475 1,941 — 78,416 Corporate expenses (1) — 18,274 311 — 18,585 Depreciation and amortization — 61,031 662 — 61,693 (Gain) loss on disposition of assets — (550 ) 13 — (537 ) — 295,338 10,039 (830 ) 304,547 Operating income — 141,736 2,459 — 144,195 Equity in (earnings) loss of subsidiaries (155,336 ) — — 155,336 — Interest expense (income), net 36,851 (82 ) 1,321 — 38,090 Income (loss) before income tax expense 118,485 141,818 1,138 (155,336 ) 106,105 Income tax (benefit) expense (2) — (13,231 ) 851 — (12,380 ) Net income (loss) $ 118,485 $ 155,049 $ 287 $ (155,336 ) $ 118,485 Statement of Comprehensive Income Net income (loss) $ 118,485 $ 155,049 $ 287 $ (155,336 ) $ 118,485 Total other comprehensive income, net of tax — — 287 — 287 Total comprehensive income (loss) $ 118,485 $ 155,049 $ 574 $ (155,336 ) $ 118,772 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the 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 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 Six Months Ended June 30, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 811,655 $ 23,024 $ (1,480 ) $ 833,199 Operating expenses Direct advertising expenses (1) — 274,858 13,482 (1,480 ) 286,860 General and administrative expenses (1) — 154,132 3,577 — 157,709 Corporate expenses (1) — 34,897 608 — 35,505 Depreciation and amortization — 121,864 1,335 — 123,199 Gain on disposition of assets — (1,010 ) (4,151 ) — (5,161 ) — 584,741 14,851 (1,480 ) 598,112 Operating income — 226,914 8,173 — 235,087 Equity in (earnings) loss of subsidiaries (242,710 ) — — 242,710 — Interest expense (income), net 72,863 (87 ) 2,756 — 75,532 Income (loss) before income tax expense 169,847 227,001 5,417 (242,710 ) 159,555 Income tax (benefit) expense (2) — (12,612 ) 2,320 — (10,292 ) Net income (loss) $ 169,847 $ 239,613 $ 3,097 $ (242,710 ) $ 169,847 Statement of Comprehensive Income Net income (loss) $ 169,847 $ 239,613 $ 3,097 $ (242,710 ) $ 169,847 Total other comprehensive income, net of tax — — 546 — 546 Total comprehensive income (loss) $ 169,847 $ 239,613 $ 3,643 $ (242,710 ) $ 170,393 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries. LAMAR MEDIA CORP. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating 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.
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, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 158,778 $ 287,842 $ (2,208 ) $ (230,068 ) $ 214,344 Cash flows from investing activities: Acquisitions — (78,141 ) — — (78,141 ) Capital expenditures — (59,193 ) (1,367 ) — (60,560 ) Proceeds from disposition of assets and investments — 2,100 — — 2,100 Investment in subsidiaries (78,141 ) — — 78,141 — Decrease (increase) in intercompany notes receivable 5,161 — — (5,161 ) — Increase in notes receivable (127 ) (417 ) — — (544 ) Net cash (used in) provided by investing activities (73,107 ) (135,651 ) (1,367 ) 72,980 (137,145 ) Cash flows from financing activities: Proceeds received from revolving credit facility 220,000 — — — 220,000 Payment on revolving credit facility (375,000 ) — — — (375,000 ) Principal payments on long-term debt (14,421 ) — — — (14,421 ) Proceeds received from note offering 255,000 — — — 255,000 Payment on accounts receivable securitization program — — (9,000 ) — (9,000 ) Proceeds received from accounts receivable securitization program — — 9,000 — 9,000 Debt issuance costs (4,435 ) — — — (4,435 ) Intercompany loan proceeds — (8,461 ) 3,300 5,161 — Distributions to non-controlling interest — — (285 ) — (285 ) Dividends (to) from parent (200,636 ) (230,068 ) — 230,068 (200,636 ) Contributions from (to) parent 38,135 78,141 — (78,141 ) 38,135 Net cash (used in) provided by financing activities (81,357 ) (160,388 ) 3,015 157,088 (81,642 ) Effect of exchange rate changes in cash and cash equivalents — — 203 — 203 Net increase (decrease) in cash and cash equivalents 4,314 (8,197 ) (357 ) — (4,240 ) Cash and cash equivalents at beginning of period 4,029 11,655 5,310 — 20,994 Cash and cash equivalents at end of period $ 8,343 $ 3,458 $ 4,953 $ — $ 16,754 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

Revenues - Additional Informati

Revenues - Additional Information (Details) - ASC 606 [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Direct Advertising Expenses (Exclusive of Depreciation and Amortization) [Member]
Capitalized Contract Cost [Line Items]
Contract cost expense net	$ 4,258
Other Current Assets [Member]
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net	$ 12,562

Revenues - Disaggregation Reven

Revenues - Disaggregation Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Net revenues	$ 448,742	$ 419,800	$ 833,199	$ 780,826
Billboard Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net revenues	393,798	365,367	729,993	678,170
Logo Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net revenues	21,811	21,378	41,723	42,007
Transit Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net revenues	$ 33,133	$ 33,055	$ 61,483	$ 60,649

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lessee Lease Description [Line Items]
Operating lease, cost	$ 77,816		$ 155,166
Variable lease, cost	18,933		36,017
(Gain) loss on disposition of assets	(537)	$ (1,843)	(5,161)	$ 6,858
Operating lease, cash payments			180,487
Direct advertising expenses (exclusive of depreciation and amortization)	$ 146,390	$ 140,784	$ 286,860	$ 279,077
Operating lease, weighted average remaining lease term	12 years		12 years
Operating lease, weighted average discount rate	4.85%		4.85%
Leased assets obtained in exchange for operating lease liability			$ 8,671
Advertising [Member]
Lessee Lease Description [Line Items]
Direct advertising expenses (exclusive of depreciation and amortization)	$ 1,097		2,226
Termination of Lease Agreements [Member]
Lessee Lease Description [Line Items]
(Gain) loss on disposition of assets	$ 193		$ (3,911)

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Lease Liabilities Payments Due [Abstract]
2019		$ 254,866
2019	$ 105,835
2020	202,776	188,138
2021	176,523	165,642
2022	154,795	144,814
2023	131,925	122,814
Thereafter	829,245	$ 819,004
Total undiscounted operating lease payments	1,601,099
Less: Imputed interest	(397,776)
Total operating lease liabilities	$ 1,203,323

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)Marketshares
2019 Acquisitions [Member]
Business Acquisition [Line Items]
Net purchase price of outdoor advertising assets	$ 78,141
Total purchase price of outdoor advertising assets	79,451
Total acquired intangible assets	64,285
Portion of acquired intangible assets assigned to goodwill	$ 0
Weighted average useful life	14 years
Aggregate amortization expense related to acquisition	$ 1,592
2019 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Total acquired intangible assets	$ 9,166
Weighted average useful life	7 years
2019 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Total acquired intangible assets	$ 54,386
Weighted average useful life	15 years
Fairway Outdoor Advertising [Member]
Business Acquisition [Line Items]
Net purchase price of outdoor advertising assets		$ 418,500
Post-closing adjustments to acquired working capital related to purchase	$ 1,310
Portion of acquired intangible assets assigned to goodwill	145,188
Number of business acquired | Market		5
Portion of acquired assets assigned to property, plant and equipment	99,386
Portion of acquired assets assigned to intangibles	186,130
Adjustment to the preliminary allocation of Goodwill	36,929
Write off of deferred tax liabilities	$ 17,031
2018 Acquisitions [Member]
Business Acquisition [Line Items]
Net purchase price of outdoor advertising assets		$ 489,671
Total acquired intangible assets		402,740
Portion of acquired intangible assets assigned to goodwill		$ 182,117
Weighted average useful life		14 years
Aggregate amortization expense related to acquisition		$ 2,681
Cash acquired in acquisitions		8,554
Total purchase price consisting of cash		477,389
Goodwill amount deductible for tax purposes		0
Total acquired intangible assets		$ 220,623
2018 Acquisitions [Member] | Common Class A [Member]
Business Acquisition [Line Items]
Issuance of common stock | shares		163,137
Issuance of common stock, value		$ 12,282
2018 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Total acquired intangible assets		$ 33,310
Weighted average useful life		7 years
2018 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Total acquired intangible assets		$ 186,635
Weighted average useful life		15 years

Acquisitions - Summary of Alloc

Acquisitions - Summary of Allocation of Acquisition Costs (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
2019 Acquisitions [Member]
Business Acquisition [Line Items]
Property, plant and equipment	$ 16,094
Asset acquisition costs	583
Current assets	736
Current liabilities	(164)
Other liabilities	(1,500)
Total	79,451
2019 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	54,386
2019 Acquisitions [Member] | Non-competition Agreements [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	150
2019 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 9,166
2018 Acquisitions Excluding Fairway Assets [Member]
Business Acquisition [Line Items]
Property, plant and equipment		$ 8,648
Asset acquisition costs		336
Current assets		1,041
Current liabilities		(355)
Total		73,638
2018 Acquisitions Excluding Fairway Assets [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		57,105
2018 Acquisitions Excluding Fairway Assets [Member] | Non-competition Agreements [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		342
2018 Acquisitions Excluding Fairway Assets [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		$ 6,521

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting terms	vesting terms ranging from three to five years and include 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date.
Number of shares available for grant	2,714,981
Common Class A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	81,000
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	5 years
1996 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for issuance to directors and employees	17,500,000
1996 Equity Incentive Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	0.00%
1996 Equity Incentive Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	100.00%
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration date of options granted under equity incentive plan	10 years
Restricted Stock [Member] | Non-employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements | $	$ 326
Restricted Stock [Member] | Percentage of awards vesting on grant date [Member] | Non-employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of awards vesting on grant date	50.00%
Restricted Stock [Member] | Percentage of Awards Vesting On Last Day of Each Directors Term [Member] | Non-employee Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	1 year
Percentage of awards vesting on grant date	50.00%
2009 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved	85,162
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved	300,000
Performance Based Compensation [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements | $	$ 4,955

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of ESPP Share Activity (Detail) - shares	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchases	(31,455)	(44,161)	(28,864)	(39,514)
Available for future purchases, June 30, 2019	2,714,981				2,714,981
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for future purchases, January 1, 2019		183,244			183,244
Purchases					(75,617)
Available for future purchases, June 30, 2019	492,789				492,789
Employee Stock Purchase Plan [Member] | 2009 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved					85,162
Employee Stock Purchase Plan [Member] | 2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved					300,000

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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 61,693	$ 55,322	$ 123,199	$ 112,162
Direct Advertising Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	58,200	51,457	116,315	104,473
General and Administrative Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	1,140	1,012	2,261	2,007
Corporate Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 2,353	$ 2,853	$ 4,623	$ 5,682

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,045,673	$ 2,950,906
Accumulated Amortization	2,091,963	2,035,453
Goodwill gross carrying amount	2,136,089	2,172,922
Goodwill accumulated amortization	253,536	253,536
Customer Lists and Contracts [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	627,836	610,376
Accumulated Amortization	$ 527,034	514,928
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	$ 65,924	65,771
Accumulated Amortization	$ 64,247	64,119
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	$ 2,305,338	2,228,767
Accumulated Amortization	$ 1,465,416	1,422,794
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	$ 46,575	45,992
Accumulated Amortization	$ 35,266	$ 33,612
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, 2019USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Beginning Balance	$ 222,989
Additions to asset retirement obligations	1,024
Accretion expense	2,080
Liabilities settled	(1,859)
Ending Balance	$ 224,234

Distribution Restrictions - Add

Distribution Restrictions - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Balance of permitted transfers to parent company	$ 3,225,011	$ 3,156,061
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	$ 1,975,490
Secured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	3.5
LAMAR MEDIA CORP [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, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
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, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt	$ 2,999,886	$ 2,914,552
Debt, Less current maturities	(215,712)	(209,365)
Debt, excluding current maturities	2,784,174	2,705,187
Deferred financing costs	27,384	25,864
Deferred financing costs, Less current maturities	(6,016)	(5,245)
Deferred financing costs, excluding current maturities	21,368	20,619
Debt, net of deferred financing costs	2,972,502	2,888,688
Debt, net of deferred financing costs, Less current maturities	(209,696)	(204,120)
Long-term debt, net of deferred financing costs	2,762,806	2,684,568
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt	1,121,891	1,291,088
Deferred financing costs	10,456	11,576
Debt, net of deferred financing costs	1,111,435	1,279,512
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt	535,000	535,000
Deferred financing costs	3,676	4,104
Debt, net of deferred financing costs	531,324	530,896
Accounts Receivable Securitization Program [Member]
Debt Instrument [Line Items]
Debt	175,000	175,000
Deferred financing costs	1,050	1,168
Debt, net of deferred financing costs	173,950	173,832
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	510,000	510,000
Deferred financing costs	3,887	4,262
Debt, net of deferred financing costs	506,113	505,738
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	654,702	400,000
Deferred financing costs	8,315	4,754
Debt, net of deferred financing costs	646,387	395,246
Other Notes with Various Rates and Terms [Member]
Debt Instrument [Line Items]
Debt	3,293	3,464
Debt, net of deferred financing costs	$ 3,293	$ 3,464

Long-term Debt - Long-Term De_2

Long-term Debt - Long-Term Debt (Parenthetical) (Detail)	Jun. 30, 2019	Dec. 31, 2018	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% 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)

Feb. 01, 2019USD ($)

Dec. 18, 2018USD ($)

Mar. 19, 2018

Mar. 16, 2018USD ($)

May 15, 2017USD ($)

Jan. 28, 2016USD ($)

Jan. 10, 2014USD ($)

Oct. 30, 2012USD ($)

Feb. 09, 2012USD ($)

Jun. 30, 2019USD ($)

Jun. 30, 2018USD ($)

Jan. 17, 2019USD ($)

Dec. 31, 2018USD ($)

Debt Instrument [Line Items]

Proceeds received from term A loans

$ 599,250,000

Additional revolving commitment

$ 100,000,000

Outstanding revolving credit facility

$ 125,000,000

Remaining borrowing capacity under revolving credit facility

411,893,000

Aggregate principal amount of debt issued

2,999,886,000

Debt instrument outstanding amount

2,999,886,000

$ 2,914,552,000

Loss on debt extinguishment

15,429,000

AR Program [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Dec. 17, 2021

Aggregate principal amount of debt issued

$ 175,000,000

Debt instrument outstanding amount

$ 175,000,000

Bearing interest rate

3.80%

5 7/8% Senior Subordinated Notes [Member]

Debt Instrument [Line Items]

Redemption price, percentage of loan

101.958%

Aggregate principal amount of debt issued

$ 500,000,000

Interest rate on convertible notes

5.875%

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]

Aggregate principal amount of debt issued

$ 535,000,000

Debt instrument outstanding amount

$ 535,000,000

$ 535,000,000

Interest rate on convertible notes

5.00%

5.00%

5.00%

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]

Aggregate principal amount of debt issued

$ 510,000,000

Debt instrument outstanding amount

$ 510,000,000

$ 510,000,000

Interest rate on convertible notes

5.375%

5.375%

5.375%

Net proceeds from the issuance of debt

$ 502,300,000

Redemption price percentage of the principal amount to be purchased

101.00%

5 3/4% Senior Notes [Member]

Debt Instrument [Line Items]

Aggregate principal amount of debt issued

$ 400,000,000

Debt instrument outstanding amount

$ 654,702,000

$ 400,000,000

Interest rate on convertible notes

5.75%

5.75%

5.75%

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, 2021 [Member]

Debt Instrument [Line Items]

Redemption price, percentage of loan

100.00%

5 3/4% Senior Notes [Member] | Private Placement [Member]

Debt Instrument [Line Items]

Aggregate principal amount of debt issued

$ 250,000,000

Interest rate on convertible notes

5.75%

Net proceeds from the issuance of debt

$ 251,500,000

Letter of Credit [Member]

Debt Instrument [Line Items]

Letter of credit outstanding balance

$ 13,107,000

LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Proceeds received from term A loans

599,250,000

Loss on debt extinguishment

$ 15,429,000

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

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 | 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 | LIBO Rate [Member] | Debt Ratio Less Than Three Point Two Five [Member]

Debt Instrument [Line Items]

Adjusted Rate

1.50%

Term A Loan Facility | 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 | Base Rate [Member] | Debt Ratio Less Than Three Point Two Five [Member]

Debt Instrument [Line Items]

Adjusted Rate

0.50%

Term B Loan Facility [Member]

Debt Instrument [Line Items]

Maximum borrowing limit of incremental loan facility

$ 600,000,000

Debt instrument maturity date

Mar. 16, 2025

Amended and restated date

Mar. 16, 2018

Redemption price, percentage of loan

5.875%

Revolving Credit Facility [Member]

Debt Instrument [Line Items]

Maximum borrowing limit of incremental loan facility

$ 550,000,000

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)	6 Months Ended
	Jun. 30, 2019USD ($)
September 30, 2019-June 30, 2020 [Member] | Term A Loan Facility
Debt Instrument [Line Items]
Principal payment amount	$ 8,437,500
September 30, 2019-June 30, 2020 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500,000
September 30, 2020-March 31, 2022 [Member] | Term A Loan Facility
Debt Instrument [Line Items]
Principal payment amount	16,875,000
September 30, 2020-March 31, 2022 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500,000
Term A Loan Maturity May 15, 2022 [Member] | Term A Loan Facility
Debt Instrument [Line Items]
Principal payment amount	253,125,000
June 30, 2022-December 31, 2024 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	1,500,000
Term B Loan Maturity March 16, 2025 [Member] | Term B [Member]
Debt Instrument [Line Items]
Principal payment amount	$ 559,500,000

Long-term Debt - Schedule of _2

Long-term Debt - Schedule of Maturities of Long Term Debt (Parenthetical) (Detail)	6 Months Ended
	Jun. 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 Instr_2

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Estimated fair value of Long-term debt (including current maturities)	$ 3,057,277
Gross amount of company's long term debt	2,999,886
Carrying amount of company's long term debt	$ 2,999,886	$ 2,914,552

New Accounting Pronouncements -

New Accounting Pronouncements - Additional Information (Detail) - USD ($)	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating liabilities, expected to be recognized	$ 1,030,915,000
Retained earnings	$ (717,824,000)		$ (695,337,000)
ASU 2018-11 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating liabilities, expected to be recognized		$ 1,200,000,000
Retained earnings		$ 0

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, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2017
Dividends [Line Items]
Dividends declared	$ 96,039				$ 191,954	$ 179,325	$ 81,534
Dividends declared, per share	$ 0.96	$ 0.96	$ 0.91	$ 0.91	$ 1.92	$ 1.82	$ 0.83
Distributions paid, preferred stockholders	$ 91		$ 91		$ 182	$ 273
Distributions paid, preferred stockholders, per share	$ 15.95		$ 15.95		$ 31.90	$ 47.85
Distributions paid			$ 89,783			$ 260,859
Distributions paid, per share			$ 0.91			$ 2.65

Information about Geographic _2

Information about Geographic Areas - Additional Information (Detail) - Foreign Countries [Member] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net carrying value of long lived assets	$ 3,407		$ 2,387
External Customers [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from external customers	$ 17,057	$ 16,794

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018	May 01, 2018
Class of Stock [Line Items]
Additional shares issued	213,276
Shelf Registration [Member]
Class of Stock [Line Items]
Additional shares issued		0
Common Class A [Member]
Class of Stock [Line Items]
Issuance of shares related to acquisition			163,137
Common Class A [Member] | Equity Distribution Agreement [Member]
Class of Stock [Line Items]
Common stock, shares sold		576,002
Common stock, shares available to be sold		$ 357,885
Common Class A [Member] | Maximum [Member]
Class of Stock [Line Items]
Aggregate offering price of common stock issuable				$ 400,000

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Total current assets	$ 302,159		$ 363,669
Net property, plant and equipment	1,316,258		1,295,048
Operating lease right of use assets	1,290,963
Other assets	53,522		51,085
Total assets	5,799,165		4,544,641
Current liabilities:
Current maturities of long-term debt	209,696		204,120
Total current liabilities	604,475		455,035
Long-term debt, net of deferred financing costs	2,762,806		2,684,568
Total liabilities	4,659,870		3,412,857
Stockholders’ equity	1,139,295	$ 1,109,578	1,131,784	$ 1,073,520	$ 1,040,199	$ 1,103,493
Total liabilities and stockholders’ equity	5,799,165		4,544,641
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
ASSETS
Total current assets	301,659		363,169
Net property, plant and equipment	1,316,258		1,295,048
Operating lease right of use assets	1,290,963
Intangibles and goodwill, net	2,825,643		2,824,219
Other assets	47,888		45,450
Total assets	5,782,411		4,527,886
Current liabilities:
Current maturities of long-term debt	209,696		204,120
Other current liabilities	389,232		245,748
Total current liabilities	598,928		449,868
Long-term debt, net of deferred financing costs	2,762,806		2,684,568
Other noncurrent liabilities	1,292,589		273,254
Total liabilities	4,654,323		3,407,690
Stockholders’ equity	1,128,088		1,120,196
Total liabilities and stockholders’ equity	5,782,411		4,527,886
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
ASSETS
Total current assets	9,094		4,653
Other assets	4,144,125		4,056,288
Total assets	4,153,219		4,060,941
Current liabilities:
Current maturities of long-term debt	34,662		29,086
Other current liabilities	23,375		27,067
Total current liabilities	58,037		56,153
Long-term debt, net of deferred financing costs	2,762,755		2,684,500
Other noncurrent liabilities	204,339		200,092
Total liabilities	3,025,131		2,940,745
Stockholders’ equity	1,128,088		1,120,196
Total liabilities and stockholders’ equity	4,153,219		4,060,941
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS
Total current assets	49,217		121,549
Net property, plant and equipment	1,309,748		1,289,348
Operating lease right of use assets	1,259,256
Intangibles and goodwill, net	2,806,868		2,804,915
Other assets	236,530		230,504
Total assets	5,661,619		4,446,316
Current liabilities:
Current maturities of long-term debt	34		34
Other current liabilities	339,244		204,103
Total current liabilities	339,278		204,137
Long-term debt, net of deferred financing costs	51		68
Other noncurrent liabilities	1,238,805		246,312
Total liabilities	1,578,134		450,517
Stockholders’ equity	4,083,485		3,995,799
Total liabilities and stockholders’ equity	5,661,619		4,446,316
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Total current assets	243,348		236,967
Net property, plant and equipment	6,510		5,700
Operating lease right of use assets	31,707
Intangibles and goodwill, net	18,775		19,304
Other assets	184,456		184,247
Total assets	484,796		446,218
Current liabilities:
Current maturities of long-term debt	175,000		175,000
Other current liabilities	26,613		14,578
Total current liabilities	201,613		189,578
Other noncurrent liabilities	274,735		251,835
Total liabilities	476,348		441,413
Stockholders’ equity	8,448		4,805
Total liabilities and stockholders’ equity	484,796		446,218
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
ASSETS
Other assets	(4,517,223)		(4,425,589)
Total assets	(4,517,223)		(4,425,589)
Current liabilities:
Other noncurrent liabilities	(425,290)		(424,985)
Total liabilities	(425,290)		(424,985)
Stockholders’ equity	(4,091,933)		(4,000,604)
Total liabilities and stockholders’ equity	$ (4,517,223)		$ (4,425,589)

Condensed Consolidating Stateme

Condensed Consolidating Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 448,742		$ 419,800		$ 833,199	$ 780,826
Operating expenses
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 146,390		$ 140,784		$ 286,860	$ 279,077
General and administrative expenses	78,416		69,686		157,709	139,894
Corporate expenses	18,674		20,147		35,703	41,251
Depreciation and amortization	61,693		55,322		123,199	112,162
(Gain) loss on disposition of assets	(537)		(1,843)		(5,161)	6,858
Total Operating Expenses	304,636		284,096		598,310	579,242
Operating income	144,106		135,704		234,889	201,584
Income before income tax expense	106,016		103,944		159,357	120,840
Income tax (benefit) expense	(12,380)		3,513		(10,292)	5,357
Net income	118,396	$ 51,253	100,431	$ 15,052	169,649	115,483
Statements of Comprehensive Income
Net income	118,396	$ 51,253	100,431	$ 15,052	169,649	115,483
Comprehensive income	$ 118,683		$ 100,154		$ 170,195	$ 114,663
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 448,742		$ 419,800		$ 833,199	$ 780,826
Operating expenses
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 146,390		$ 140,784		$ 286,860	$ 279,077
General and administrative expenses	78,416		69,686		157,709	139,894
Corporate expenses	18,585		20,058		35,505	41,056
Depreciation and amortization	61,693		55,322		123,199	112,162
(Gain) loss on disposition of assets	(537)		(1,843)		(5,161)	6,858
Total Operating Expenses	304,547		284,007		598,112	579,047
Operating income	144,195		135,793		235,087	201,779
Interest expense (income), net	38,090		31,760		75,532	65,315
Other expenses						15,429
Income before income tax expense	106,105		104,033		159,555	121,035
Income tax (benefit) expense	(12,380)		3,513		(10,292)	5,357
Net income	118,485		100,520		169,847	115,678
Statements of Comprehensive Income
Net income	118,485		100,520		169,847	115,678
Total other comprehensive income (loss), net of tax	287		(277)		546	(820)
Comprehensive income	$ 118,772		$ 100,243		$ 170,393	$ 114,858
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	$ (155,336)		$ (132,412)		$ (242,710)	$ (196,577)
Interest expense (income), net	36,851		31,892		72,863	65,470
Other expenses						15,429
Income before income tax expense	118,485		100,520		169,847	115,678
Net income	118,485		100,520		169,847	115,678
Statements of Comprehensive Income
Net income	118,485		100,520		169,847	115,678
Comprehensive income	$ 118,485		$ 100,520		$ 169,847	$ 115,678
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 437,074		$ 406,521		$ 811,655	$ 756,383
Operating expenses
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 140,108		$ 134,716		$ 274,858	$ 265,840
General and administrative expenses	76,475		67,915		154,132	135,476
Corporate expenses	18,274		19,611		34,897	40,216
Depreciation and amortization	61,031		54,231		121,864	108,580
(Gain) loss on disposition of assets	(550)		(862)		(1,010)	(827)
Total Operating Expenses	295,338		275,611		584,741	549,285
Operating income	141,736		130,910		226,914	207,098
Interest expense (income), net	(82)		(8)		(87)	(10)
Income before income tax expense	141,818		130,918		227,001	207,108
Income tax (benefit) expense	(13,231)		2,829		(12,612)	3,541
Net income	155,049		128,089		239,613	203,567
Statements of Comprehensive Income
Net income	155,049		128,089		239,613	203,567
Comprehensive income	$ 155,049		$ 128,089		$ 239,613	$ 203,567
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 12,498		$ 14,119		$ 23,024	$ 26,221
Operating expenses
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ 7,112		$ 6,770		$ 13,482	$ 14,520
General and administrative expenses	1,941		1,771		3,577	4,418
Corporate expenses	311		447		608	840
Depreciation and amortization	662		1,091		1,335	3,582
(Gain) loss on disposition of assets	13		(981)		(4,151)	7,685
Total Operating Expenses	10,039		9,098		14,851	31,045
Operating income	2,459		5,021		8,173	(4,824)
Interest expense (income), net	1,321		14		2,756	350
Income before income tax expense	1,138		5,007		5,417	(5,174)
Income tax (benefit) expense	851		684		2,320	1,816
Net income	287		4,323		3,097	(6,990)
Statements of Comprehensive Income
Net income	287		4,323		3,097	(6,990)
Total other comprehensive income (loss), net of tax	287		(277)		546	(820)
Comprehensive income	$ 574		$ 4,046		$ 3,643	$ (7,810)
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ (830)		$ (840)		$ (1,480)	$ (1,778)
Operating expenses
Type of Cost, Good or Service [Extensible List]	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses	$ (830)		$ (702)		$ (1,480)	$ (1,283)
Total Operating Expenses	(830)		(702)		(1,480)	(1,283)
Operating income			(138)			(495)
Equity in (earnings) loss of subsidiaries	155,336		132,412		242,710	196,577
Interest expense (income), net			(138)			(495)
Income before income tax expense	(155,336)		(132,412)		(242,710)	(196,577)
Net income	(155,336)		(132,412)		(242,710)	(196,577)
Statements of Comprehensive Income
Net income	(155,336)		(132,412)		(242,710)	(196,577)
Comprehensive income	$ (155,336)		$ (132,412)		$ (242,710)	$ (196,577)

Condensed Consolidating State_2

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 237,049	$ 215,784
Cash flows from investing activities:
Acquisitions	(78,141)	(16,165)
Capital expenditures	(60,560)	(52,473)
Proceeds from disposition of assets and investments	2,100	3,407
Proceeds received from insurance claims		3,804
(Increase) decrease of notes receivable	(544)	5
Net cash (used in) provided by investing activities	(137,145)	(61,422)
Cash flows from financing activities:
Proceeds received from revolving credit facility	220,000	190,000
Payments on revolving credit facility	(375,000)	(270,000)
Principal payments on long term debt	(14,421)	(12,911)
Proceeds received from senior credit facility Term B loan		599,250
Redemption of senior subordinated notes		(509,790)
Proceeds received from note offering	255,000
Payments on accounts receivable securitization program	(9,000)
Proceeds received from accounts receivable securitization program	9,000
Debt issuance costs	(4,435)	(6,349)
Distributions to non-controlling interest	(285)	(241)
Net cash used in financing activities	(104,347)	(249,562)
Effect of exchange rate changes in cash and cash equivalents	203	(683)
Net decrease in cash and cash equivalents	(4,240)	(95,883)
Cash and cash equivalents at beginning of period	21,494	115,471
Cash and cash equivalents at end of period	17,254	19,588
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	214,344	202,241
Cash flows from investing activities:
Acquisitions	(78,141)	(16,165)
Capital expenditures	(60,560)	(52,473)
Proceeds from disposition of assets and investments	2,100	3,407
Proceeds received from insurance claims		3,804
(Increase) decrease of notes receivable	(544)	5
Net cash (used in) provided by investing activities	(137,145)	(61,422)
Cash flows from financing activities:
Proceeds received from revolving credit facility	220,000	190,000
Payments on revolving credit facility	(375,000)	(270,000)
Principal payments on long term debt	(14,421)	(12,911)
Proceeds received from senior credit facility Term B loan		599,250
Redemption of senior subordinated notes		(509,790)
Proceeds received from note offering	255,000
Payments on accounts receivable securitization program	(9,000)
Proceeds received from accounts receivable securitization program	9,000
Debt issuance costs	(4,435)	(6,349)
Distributions to non-controlling interest	(285)	(241)
Dividends (to) from parent	(200,636)	(264,970)
Contributions from (to) parent	38,135	38,992
Net cash used in financing activities	(81,642)	(236,019)
Effect of exchange rate changes in cash and cash equivalents	203	(683)
Net decrease in cash and cash equivalents	(4,240)	(95,883)
Cash and cash equivalents at beginning of period	20,994	114,971
Cash and cash equivalents at end of period	16,754	19,088
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	158,778	146,324
Cash flows from investing activities:
Investment in subsidiaries	(78,141)	(16,165)
Decrease (increase) in intercompany notes receivable	5,161	28,618
(Increase) decrease of notes receivable	(127)	5
Net cash (used in) provided by investing activities	(73,107)	12,458
Cash flows from financing activities:
Proceeds received from revolving credit facility	220,000	190,000
Payments on revolving credit facility	(375,000)	(270,000)
Principal payments on long term debt	(14,421)	(12,897)
Proceeds received from senior credit facility Term B loan		599,250
Redemption of senior subordinated notes		(509,790)
Proceeds received from note offering	255,000
Debt issuance costs	(4,435)	(6,349)
Dividends (to) from parent	(200,636)	(264,970)
Contributions from (to) parent	38,135	38,992
Net cash used in financing activities	(81,357)	(235,764)
Net decrease in cash and cash equivalents	4,314	(76,982)
Cash and cash equivalents at beginning of period	4,029	86,546
Cash and cash equivalents at end of period	8,343	9,564
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	287,842	268,161
Cash flows from investing activities:
Acquisitions	(78,141)	(16,165)
Capital expenditures	(59,193)	(48,506)
Proceeds from disposition of assets and investments	2,100
(Increase) decrease of notes receivable	(417)
Net cash (used in) provided by investing activities	(135,651)	(64,671)
Cash flows from financing activities:
Principal payments on long term debt		(14)
Intercompany loan proceeds	(8,461)
Dividends (to) from parent	(230,068)	(220,034)
Contributions from (to) parent	78,141	16,165
Net cash used in financing activities	(160,388)	(203,883)
Net decrease in cash and cash equivalents	(8,197)	(393)
Cash and cash equivalents at beginning of period	11,655	1,625
Cash and cash equivalents at end of period	3,458	1,232
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	(2,208)	7,790
Cash flows from investing activities:
Capital expenditures	(1,367)	(3,967)
Proceeds from disposition of assets and investments		3,407
Proceeds received from insurance claims		3,804
Net cash (used in) provided by investing activities	(1,367)	3,244
Cash flows from financing activities:
Payments on accounts receivable securitization program	(9,000)
Proceeds received from accounts receivable securitization program	9,000
Intercompany loan proceeds	3,300	(28,618)
Distributions to non-controlling interest	(285)	(241)
Net cash used in financing activities	3,015	(28,859)
Effect of exchange rate changes in cash and cash equivalents	203	(683)
Net decrease in cash and cash equivalents	(357)	(18,508)
Cash and cash equivalents at beginning of period	5,310	26,800
Cash and cash equivalents at end of period	4,953	8,292
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(230,068)	(220,034)
Cash flows from investing activities:
Investment in subsidiaries	78,141	16,165
Decrease (increase) in intercompany notes receivable	(5,161)	(28,618)
Net cash (used in) provided by investing activities	72,980	(12,453)
Cash flows from financing activities:
Intercompany loan proceeds	5,161	28,618
Dividends (to) from parent	230,068	220,034
Contributions from (to) parent	(78,141)	(16,165)
Net cash used in financing activities	$ 157,088	$ 232,487