Lamar Advertising (LAMR) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	1-36756
Entity Registrant Name	LAMAR ADVERTISING CO/NEW
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0961620
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
Title of 12(b) Security	Class A common stock, $0.001 par value
Trading Symbol	LAMR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001090425
Current Fiscal Year End Date	--12-31
Class A CMN Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		87,263,385
Class B CMN Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,420,085
LAMAR MEDIA CORP. AND SUBSIDIARIES
Document Information [Line Items]
Entity File Number	1-12407
Entity Registrant Name	LAMAR MEDIA CORP/DE
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1205791
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100
Entity Central Index Key	0000899045
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 79,355	$ 99,788
Receivables, net of allowance for doubtful accounts	294,840	269,917
Other current assets	30,826	18,902
Total current assets	405,021	388,607
Property, plant and equipment	3,912,020	3,782,288
Less accumulated depreciation and amortization	(2,512,786)	(2,445,014)
Net property, plant and equipment	1,399,234	1,337,274
Operating lease right of use assets	1,236,201	1,224,672
Financing lease right of use assets	14,751	16,890
Goodwill	2,002,747	1,936,426
Intangible assets, net	1,128,358	1,045,177
Other assets	92,207	98,448
Total assets	6,278,519	6,047,494
Current liabilities:
Trade accounts payable	16,523	16,429
Current maturities of long-term debt, net of deferred financing costs	199,722	174,778
Current operating lease liabilities	180,107	198,286
Current financing lease liabilities	1,331	1,331
Accrued expenses	105,374	135,038
Deferred income	140,772	137,103
Total current liabilities	643,829	662,965
Long-term debt	3,016,563	2,838,817
Operating lease liabilities	1,007,988	995,356
Financing lease liabilities	16,278	17,277
Deferred income tax liabilities	8,298	6,416
Asset retirement obligation	278,092	269,367
Other liabilities	33,186	40,207
Total liabilities	5,004,234	4,830,405
Stockholders’ equity:
Additional paid-in capital	2,054,110	2,001,399
Accumulated comprehensive (loss) income	(915)	855
Accumulated deficit	(717,654)	(734,415)
Treasury stock at cost	(61,358)	(50,852)
Stockholder's equity	1,274,285	1,217,089
Total liabilities and stockholders’ equity	6,278,519	6,047,494
Series AA PREF Stock
Stockholders’ equity:
Preferred stock, value	0	0
Class A CMN Stock
Stockholders’ equity:
Common stock, value	88	88
Class B CMN Stock
Stockholders’ equity:
Common stock, value	$ 14	$ 14

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 11,388	$ 11,195
Current deferred financing costs	651	585
Noncurrent deferred financing costs	$ 33,494	$ 36,274
Shares held in treasury (in shares)	783,696	688,017
Series AA PREF Stock
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, cumulative dividends (in dollars per share)	$ 63.80	$ 63.80
Preferred stock, shares authorized (in shares)	5,720	5,720
Preferred stock, shares outstanding (in shares)	5,720	5,720
Preferred stock, shares issued (in shares)	5,720	5,720
Class A CMN Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	362,500,000	362,500,000
Common stock, shares issued (in shares)	88,047,081	87,540,838
Common stock, shares outstanding (in shares)	87,263,385	86,852,821
Class B CMN Stock
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	37,500,000	37,500,000
Common stock, shares issued (in shares)	14,420,085	14,420,085
Common stock, shares outstanding (in shares)	14,420,085	14,420,085

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statements of Income
Net revenues	$ 527,390	$ 476,894	$ 1,496,630	$ 1,292,827
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	168,968	147,310	493,463	418,973
General and administrative expenses (exclusive of depreciation and amortization)	87,181	85,946	260,923	234,429
Corporate expenses (exclusive of depreciation and amortization)	24,474	26,028	74,077	64,431
Depreciation and amortization	65,833	84,300	202,210	205,671
Gain on disposition of assets	(53)	(26)	(1,990)	(1,922)
Total operating expenses	346,403	343,558	1,028,683	921,582
Operating income	180,987	133,336	467,947	371,245
Other expense (income)
Loss on extinguishment of debt	0	0	0	21,604
Interest income	(248)	(198)	(742)	(554)
Interest expense	33,545	26,125	89,824	80,638
Equity in earnings of investee	(1,554)	(1,141)	(2,655)	(1,141)
Total other expense (income)	31,743	24,786	86,427	100,547
Income before income tax expense	149,244	108,550	381,520	270,698
Income tax expense	3,056	1,712	8,976	5,922
Net income	146,188	106,838	372,544	264,776
Cash dividends declared and paid on preferred stock	91	91	273	273
Net income applicable to common stock	$ 146,097	$ 106,747	$ 372,271	$ 264,503
Earnings per share:
Basic earnings per share (in dollars per share)	$ 1.44	$ 1.05	$ 3.67	$ 2.62
Diluted earnings per share (in dollars per share)	1.44	1.05	3.66	2.61
Cash dividends declared per share of common stock (in dollars per share)	$ 1.20	$ 1	$ 3.50	$ 2.50
Weighted average common shares used in computing earnings per share:
Weighted average common shares outstanding basic (in shares)	101,580,997	101,195,158	101,469,918	101,097,124
Weighted average common shares outstanding diluted (in shares)	101,685,965	101,401,754	101,599,157	101,298,444
Statements of Comprehensive Income
Net income	$ 146,188	$ 106,838	$ 372,544	$ 264,776
Other comprehensive loss
Foreign currency translation adjustments	(1,401)	(588)	(1,770)	(84)
Comprehensive income	$ 144,787	$ 106,250	$ 370,774	$ 264,692

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) $ in Thousands	Total	Treasury Stock	Add’l Paid in Capital	Accumulated Comprehensive Income	Accumulated Deficit	Series AA PREF Stock Preferred Stock	Class A CMN Stock Common Stock	Class B CMN Stock Common Stock
Beginning balance at Dec. 31, 2020	$ 1,202,768	$ (44,786)	$ 1,963,850	$ 934	$ (717,331)	$ 0	$ 87	$ 14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-cash compensation	1,060		1,060
Issuance of common stock through stock awards	13,376		13,376
Exercise of stock options	5,224		5,224
Issuance of common stock through employee purchase plan	2,172		2,172
Purchase of treasury stock	(5,717)	(5,717)
Foreign currency translation	204			204
Net income	38,329				38,329
Dividends/distributions to common shareholders	(75,818)				(75,818)
Dividends, preferred stock	(91)				(91)
Ending balance at Mar. 31, 2021	1,181,507	(50,503)	1,985,682	1,138	(754,911)	0	87	14
Beginning balance at Dec. 31, 2020	1,202,768	(44,786)	1,963,850	934	(717,331)	0	87	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	(84)
Net income	264,776
Ending balance at Sep. 30, 2021	1,241,796	(50,573)	1,997,162	850	(705,745)	0	88	14
Beginning balance at Mar. 31, 2021	1,181,507	(50,503)	1,985,682	1,138	(754,911)	0	87	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-cash compensation	917		917
Issuance of common stock through stock awards	594		594
Exercise of stock options	2,575		2,575
Issuance of common stock through employee purchase plan	2,068		2,068
Foreign currency translation	300			300
Net income	119,609				119,609
Dividends/distributions to common shareholders	(75,874)				(75,874)
Dividends, preferred stock	(91)				(91)
Ending balance at Jun. 30, 2021	1,231,605	(50,503)	1,991,836	1,438	(711,267)	0	87	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-cash compensation	1,128		1,128
Issuance of common stock through stock awards	188		188
Exercise of stock options	1,749		1,748				1
Issuance of common stock through employee purchase plan	2,262		2,262
Purchase of treasury stock	(70)	(70)
Foreign currency translation	(588)			(588)
Net income	106,838				106,838
Dividends/distributions to common shareholders	(101,225)				(101,225)
Dividends, preferred stock	(91)				(91)
Ending balance at Sep. 30, 2021	1,241,796	(50,573)	1,997,162	850	(705,745)	0	88	14
Beginning balance at Dec. 31, 2021	1,217,089	(50,852)	2,001,399	855	(734,415)	0	88	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-cash compensation	1,405		1,405
Issuance of common stock through stock awards	30,145		30,145
Exercise of stock options	1,307		1,307
Issuance of common stock through employee purchase plan	3,589		3,589
Purchase of treasury stock	(10,446)	(10,446)
Foreign currency translation	314			314
Net income	92,151				92,151
Dividends/distributions to common shareholders	(111,602)				(111,602)
Dividends, preferred stock	(91)				(91)
Ending balance at Mar. 31, 2022	1,223,861	(61,298)	2,037,845	1,169	(753,957)	0	88	14
Beginning balance at Dec. 31, 2021	1,217,089	(50,852)	2,001,399	855	(734,415)	0	88	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	(1,770)
Net income	372,544
Ending balance at Sep. 30, 2022	1,274,285	(61,358)	2,054,110	(915)	(717,654)	0	88	14
Beginning balance at Mar. 31, 2022	1,223,861	(61,298)	2,037,845	1,169	(753,957)	0	88	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-cash compensation	1,356		1,356
Issuance of common stock through stock awards	221		221
Exercise of stock options	599		599
Issuance of common stock through employee purchase plan	2,406		2,406
Foreign currency translation	(683)			(683)
Net income	134,205				134,205
Dividends/distributions to common shareholders	(121,808)				(121,808)
Dividends, preferred stock	(91)				(91)
Ending balance at Jun. 30, 2022	1,240,066	(61,298)	2,042,427	486	(741,651)	0	88	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Non-cash compensation	4,283		4,283
Exercise of stock options	4,945		4,945
Issuance of common stock through employee purchase plan	2,455		2,455
Purchase of treasury stock	(60)	(60)
Foreign currency translation	(1,401)			(1,401)
Net income	146,188				146,188
Dividends/distributions to common shareholders	(122,100)				(122,100)
Dividends, preferred stock	(91)				(91)
Ending balance at Sep. 30, 2022	$ 1,274,285	$ (61,358)	$ 2,054,110	$ (915)	$ (717,654)	$ 0	$ 88	$ 14

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 372,544	$ 264,776
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	202,210	205,671
Stock-based compensation	14,331	22,540
Amortization included in interest expense	4,527	4,405
Gain on disposition of assets	(1,990)	(1,922)
Loss on extinguishment of debt	0	21,604
Equity in earnings of investee	(2,655)	(1,141)
Deferred tax expense	1,851	1,178
Provision for doubtful accounts	5,868	2,711
(Increase) decrease in:
Receivables	(29,510)	(24,475)
Prepaid expenses	(2,681)	(1,953)
Other assets	3,510	(444)
(Decrease) increase in:
Trade accounts payable	(895)	(69)
Accrued expenses	(12,773)	3,610
Operating lease liabilities	(18,881)	(22,560)
Other liabilities	1,649	14,303
Net cash provided by (used in) operating activities	537,105	488,234
Cash flows from investing activities:
Acquisitions	(287,860)	(107,593)
Capital expenditures	(116,808)	(71,513)
Payment for investments in equity securities	0	(30,000)
Proceeds from disposition of assets and investments	2,146	5,761
Decrease in notes receivable	58	107
Net cash (used in) provided by investing activities	(402,464)	(203,238)
Cash flows from financing activities:
Cash used for purchase of treasury stock	(10,506)	(5,787)
Net proceeds from issuance of common stock	15,301	16,050
Principal payments on long-term debt	(273)	(282)
Principal payments on financing leases	(998)	(998)
Payments on revolving credit facility	(575,000)	(25,000)
Proceeds received from revolving credit facility	400,000	25,000
Redemption of senior notes and senior subordinated notes	0	(668,688)
Proceeds received from note offering	0	550,000
Proceeds received from accounts receivable securitization program	140,000	120,000
Payments on accounts receivable securitization program	(115,000)	(67,500)
Proceeds received from senior credit facility term loans	350,000	0
Debt issuance costs	(1,564)	(8,662)
Distributions to non-controlling interest	(1,019)	(82)
Dividends/distributions	(355,783)	(253,190)
Net cash used in financing activities	(154,842)	(319,139)
Effect of exchange rate changes in cash and cash equivalents	(232)	143
Net decrease in cash and cash equivalents	(20,433)	(34,000)
Cash and cash equivalents at beginning of period	99,788	121,569
Cash and cash equivalents at end of period	79,355	87,569
Supplemental disclosures of cash flow information:
Cash paid for interest	84,611	87,729
Cash paid for foreign, state and federal income taxes	$ 8,254	$ 7,231

Condensed Consolidated Balanc_3

Condensed Consolidated Balance Sheets (Subsidiary) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 79,355	$ 99,788
Receivables, net of allowance for doubtful accounts	294,840	269,917
Other current assets	30,826	18,902
Total current assets	405,021	388,607
Property, plant and equipment	3,912,020	3,782,288
Less accumulated depreciation and amortization	(2,512,786)	(2,445,014)
Net property, plant and equipment	1,399,234	1,337,274
Operating lease right of use assets	1,236,201	1,224,672
Financing lease right of use assets	14,751	16,890
Goodwill	2,002,747	1,936,426
Intangible assets, net	1,128,358	1,045,177
Other assets	92,207	98,448
Total assets	6,278,519	6,047,494
Current liabilities:
Trade accounts payable	16,523	16,429
Current maturities of long-term debt, net of deferred financing costs	199,722	174,778
Current operating lease liabilities	180,107	198,286
Current financing lease liabilities	1,331	1,331
Accrued expenses	105,374	135,038
Deferred income	140,772	137,103
Total current liabilities	643,829	662,965
Long-term debt	3,016,563	2,838,817
Operating lease liabilities	1,007,988	995,356
Financing lease liabilities	16,278	17,277
Deferred income tax liabilities	8,298	6,416
Asset retirement obligation	278,092	269,367
Other liabilities	33,186	40,207
Total liabilities	5,004,234	4,830,405
Stockholders’ equity:
Additional paid-in capital	2,054,110	2,001,399
Accumulated comprehensive (loss) income	(915)	855
Accumulated deficit	(717,654)	(734,415)
Stockholder's equity	1,274,285	1,217,089
Total liabilities and stockholders’ equity	6,278,519	6,047,494
LAMAR MEDIA CORP. AND SUBSIDIARIES
Current assets:
Cash and cash equivalents	78,855	99,288
Receivables, net of allowance for doubtful accounts	294,840	269,917
Other current assets	30,826	18,902
Total current assets	404,521	388,107
Property, plant and equipment	3,912,020	3,782,288
Less accumulated depreciation and amortization	(2,512,786)	(2,445,014)
Net property, plant and equipment	1,399,234	1,337,274
Operating lease right of use assets	1,236,201	1,224,672
Financing lease right of use assets	14,751	16,890
Goodwill	1,992,595	1,926,274
Intangible assets, net	1,127,890	1,044,709
Other assets	86,584	93,105
Total assets	6,261,776	6,031,031
Current liabilities:
Trade accounts payable	16,523	16,429
Current maturities of long-term debt, net of deferred financing costs	199,722	174,778
Current operating lease liabilities	180,107	198,286
Current financing lease liabilities	1,331	1,331
Accrued expenses	96,716	127,318
Deferred income	140,772	137,103
Total current liabilities	635,171	655,245
Long-term debt	3,016,563	2,838,817
Operating lease liabilities	1,007,988	995,356
Financing lease liabilities	16,278	17,277
Deferred income tax liabilities	8,298	6,416
Asset retirement obligation	278,092	269,367
Other liabilities	33,186	40,207
Total liabilities	4,995,576	4,822,685
Stockholders’ equity:
Common stock, value	0	0
Additional paid-in capital	3,124,617	3,071,905
Accumulated comprehensive (loss) income	(915)	855
Accumulated deficit	(1,857,502)	(1,864,414)
Stockholder's equity	1,266,200	1,208,346
Total liabilities and stockholders’ equity	$ 6,261,776	$ 6,031,031

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) (Subsidiary) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statements of Income
Net revenues	$ 527,390	$ 476,894	$ 1,496,630	$ 1,292,827
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	168,968	147,310	493,463	418,973
General and administrative expenses (exclusive of depreciation and amortization)	87,181	85,946	260,923	234,429
Corporate expenses (exclusive of depreciation and amortization)	24,474	26,028	74,077	64,431
Depreciation and amortization	65,833	84,300	202,210	205,671
Gain on disposition of assets	(53)	(26)	(1,990)	(1,922)
Total operating expenses	346,403	343,558	1,028,683	921,582
Operating income	180,987	133,336	467,947	371,245
Other expense (income)
Loss on extinguishment of debt	0	0	0	21,604
Interest income	(248)	(198)	(742)	(554)
Interest expense	33,545	26,125	89,824	80,638
Equity in earnings of investee	(1,554)	(1,141)	(2,655)	(1,141)
Total other expense (income)	31,743	24,786	86,427	100,547
Income before income tax expense	149,244	108,550	381,520	270,698
Income tax expense	3,056	1,712	8,976	5,922
Net income	146,188	106,838	372,544	264,776
Statements of Comprehensive Income
Net income	146,188	106,838	372,544	264,776
Other comprehensive loss
Comprehensive income	144,787	106,250	370,774	264,692
LAMAR MEDIA CORP. AND SUBSIDIARIES
Statements of Income
Net revenues	527,390	476,894	1,496,630	1,292,827
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	168,968	147,310	493,463	418,973
General and administrative expenses (exclusive of depreciation and amortization)	87,181	85,947	260,923	234,115
Corporate expenses (exclusive of depreciation and amortization)	24,337	25,891	73,694	64,048
Depreciation and amortization	65,833	84,300	202,210	205,671
Gain on disposition of assets	(53)	(26)	(1,990)	(1,922)
Total operating expenses	346,266	343,422	1,028,300	920,885
Operating income	181,124	133,472	468,330	371,942
Other expense (income)
Loss on extinguishment of debt	0	0	0	21,604
Interest income	(248)	(198)	(742)	(554)
Interest expense	33,545	26,125	89,824	80,638
Equity in earnings of investee	(1,554)	(1,141)	(2,655)	(1,141)
Total other expense (income)	31,743	24,786	86,427	100,547
Income before income tax expense	149,381	108,686	381,903	271,395
Income tax expense	3,056	1,712	8,976	5,922
Net income	146,325	106,974	372,927	265,473
Statements of Comprehensive Income
Net income	146,325	106,974	372,927	265,473
Other comprehensive loss
Foreign currency translations	(1,401)	(588)	(1,770)	(84)
Comprehensive income	$ 144,924	$ 106,386	$ 371,157	$ 265,389

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (Subsidiary) - USD ($) $ in Thousands	Total	Add’l Paid in Capital	Accumulated Comprehensive Income	Accumulated Deficit	LAMAR MEDIA CORP. AND SUBSIDIARIES	LAMAR MEDIA CORP. AND SUBSIDIARIES Common Stock	LAMAR MEDIA CORP. AND SUBSIDIARIES Add’l Paid in Capital	LAMAR MEDIA CORP. AND SUBSIDIARIES Accumulated Comprehensive Income	LAMAR MEDIA CORP. AND SUBSIDIARIES Accumulated Deficit
Beginning balance at Dec. 31, 2020	$ 1,202,768	$ 1,963,850	$ 934	$ (717,331)	$ 1,192,844	$ 0	$ 3,034,357	$ 934	$ (1,842,447)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent					21,831		21,831
Foreign currency translations					204			204
Net income	38,329			38,329	38,466				38,466
Dividend to parent					(81,535)				(81,535)
Ending balance at Mar. 31, 2021	1,181,507	1,985,682	1,138	(754,911)	1,171,810	0	3,056,188	1,138	(1,885,516)
Beginning balance at Dec. 31, 2020	1,202,768	1,963,850	934	(717,331)	1,192,844	0	3,034,357	934	(1,842,447)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translations					(84)
Net income	264,776				265,473
Ending balance at Sep. 30, 2021	1,241,796	1,997,162	850	(705,745)	1,232,842	0	3,067,669	850	(1,835,677)
Beginning balance at Mar. 31, 2021	1,181,507	1,985,682	1,138	(754,911)	1,171,810	0	3,056,188	1,138	(1,885,516)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent					6,154		6,154
Foreign currency translations					300			300
Net income	119,609			119,609	120,033				120,033
Dividend to parent					(75,874)				(75,874)
Ending balance at Jun. 30, 2021	1,231,605	1,991,836	1,438	(711,267)	1,222,423	0	3,062,342	1,438	(1,841,357)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent					5,327		5,327
Foreign currency translations					(588)			(588)
Net income	106,838			106,838	106,974				106,974
Dividend to parent					(101,294)				(101,294)
Ending balance at Sep. 30, 2021	1,241,796	1,997,162	850	(705,745)	1,232,842	0	3,067,669	850	(1,835,677)
Beginning balance at Dec. 31, 2021	1,217,089	2,001,399	855	(734,415)	1,208,346	0	3,071,905	855	(1,864,414)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent					36,447		36,447
Foreign currency translations					314			314
Net income	92,151			92,151	92,287				92,287
Dividend to parent					(122,047)				(122,047)
Ending balance at Mar. 31, 2022	1,223,861	2,037,845	1,169	(753,957)	1,215,347	0	3,108,352	1,169	(1,894,174)
Beginning balance at Dec. 31, 2021	1,217,089	2,001,399	855	(734,415)	1,208,346	0	3,071,905	855	(1,864,414)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translations					(1,770)
Net income	372,544				372,927
Ending balance at Sep. 30, 2022	1,274,285	2,054,110	(915)	(717,654)	1,266,200	0	3,124,617	(915)	(1,857,502)
Beginning balance at Mar. 31, 2022	1,223,861	2,037,845	1,169	(753,957)	1,215,347	0	3,108,352	1,169	(1,894,174)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent					4,582		4,582
Foreign currency translations					(683)			(683)
Net income	134,205			134,205	134,315				134,315
Dividend to parent					(121,809)				(121,809)
Ending balance at Jun. 30, 2022	1,240,066	2,042,427	486	(741,651)	1,231,752	0	3,112,934	486	(1,881,668)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contribution from parent					11,683		11,683
Foreign currency translations					(1,401)			(1,401)
Net income	146,188			146,188	146,325				146,325
Dividend to parent					(122,159)				(122,159)
Ending balance at Sep. 30, 2022	$ 1,274,285	$ 2,054,110	$ (915)	$ (717,654)	$ 1,266,200	$ 0	$ 3,124,617	$ (915)	$ (1,857,502)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Subsidiary) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 372,544	$ 264,776
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	202,210	205,671
Stock-based compensation	14,331	22,540
Amortization included in interest expense	4,527	4,405
Gain on disposition of assets	(1,990)	(1,922)
Loss on extinguishment of debt	0	21,604
Equity in earnings of investee	(2,655)	(1,141)
Deferred tax expense	1,851	1,178
Provision for doubtful accounts	5,868	2,711
(Increase) decrease in:
Receivables	(29,510)	(24,475)
Prepaid expenses	(2,681)	(1,953)
Other assets	3,510	(444)
(Decrease) increase in:
Trade accounts payable	(895)	(69)
Accrued expenses	(12,773)	3,610
Operating lease liabilities	(18,881)	(22,560)
Other liabilities	1,649	14,303
Net cash provided by (used in) operating activities	537,105	488,234
Cash flows from investing activities:
Acquisitions	(287,860)	(107,593)
Capital expenditures	(116,808)	(71,513)
Payment for investments in equity securities	0	30,000
Proceeds from disposition of assets and investments	2,146	5,761
Decrease in notes receivable	58	107
Net cash (used in) provided by investing activities	(402,464)	(203,238)
Cash flows from financing activities:
Principal payments on long-term debt	(273)	(282)
Principal payments on financing leases	(998)	(998)
Payments on revolving credit facility	(575,000)	(25,000)
Proceeds received from revolving credit facility	400,000	25,000
Redemption of senior notes and senior subordinated notes	0	(668,688)
Proceeds received from note offering	0	550,000
Proceeds received from accounts receivable securitization program	140,000	120,000
Payments on accounts receivable securitization program	(115,000)	(67,500)
Proceeds received from senior credit facility term loans	350,000	0
Debt issuance costs	(1,564)	(8,662)
Distributions to non-controlling interest	(1,019)	(82)
Net cash used in financing activities	(154,842)	(319,139)
Effect of exchange rate changes in cash and cash equivalents	(232)	143
Net decrease in cash and cash equivalents	(20,433)	(34,000)
Cash and cash equivalents at beginning of period	99,788	121,569
Cash and cash equivalents at end of period	79,355	87,569
Supplemental disclosures of cash flow information:
Cash paid for interest	84,611	87,729
Cash paid for foreign, state and federal income taxes	8,254	7,231
LAMAR MEDIA CORP. AND SUBSIDIARIES
Cash flows from operating activities:
Net income	372,927	265,473
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	202,210	205,671
Stock-based compensation	14,331	22,540
Amortization included in interest expense	4,527	4,405
Gain on disposition of assets	(1,990)	(1,922)
Loss on extinguishment of debt	0	21,604
Equity in earnings of investee	(2,655)	(1,141)
Deferred tax expense	1,851	1,178
Provision for doubtful accounts	5,868	2,711
(Increase) decrease in:
Receivables	(29,510)	(24,475)
Prepaid expenses	(2,681)	(1,953)
Other assets	3,510	(444)
(Decrease) increase in:
Trade accounts payable	(895)	(69)
Accrued expenses	(12,773)	3,610
Operating lease liabilities	(18,881)	(22,560)
Other liabilities	(36,419)	(3,930)
Net cash provided by (used in) operating activities	499,420	470,698
Cash flows from investing activities:
Acquisitions	(287,860)	(107,593)
Capital expenditures	(116,808)	(71,513)
Payment for investments in equity securities	0	30,000
Proceeds from disposition of assets and investments	2,146	5,761
Net cash (used in) provided by investing activities	(402,464)	(203,238)
Cash flows from financing activities:
Principal payments on long-term debt	(273)	(282)
Principal payments on financing leases	(998)	(998)
Payments on revolving credit facility	(575,000)	(25,000)
Proceeds received from revolving credit facility	400,000	25,000
Redemption of senior notes and senior subordinated notes	0	(668,688)
Proceeds received from note offering	0	550,000
Proceeds received from accounts receivable securitization program	140,000	120,000
Payments on accounts receivable securitization program	(115,000)	(67,500)
Proceeds received from senior credit facility term loans	350,000	0
Debt issuance costs	(1,564)	(8,662)
Distributions to non-controlling interest	(1,019)	(82)
Contributions from (to) parent	52,712	33,312
Dividends (to) from parent	(366,015)	(258,703)
Net cash used in financing activities	(117,157)	(301,603)
Effect of exchange rate changes in cash and cash equivalents	(232)	143
Net decrease in cash and cash equivalents	(20,433)	(34,000)
Cash and cash equivalents at beginning of period	99,288	121,069
Cash and cash equivalents at end of period	78,855	87,069
Supplemental disclosures of cash flow information:
Cash paid for interest	84,611	87,729
Cash paid for foreign, state and federal income taxes	$ 8,254	$ 7,231

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Cash dividends declared per share of common stock (in dollars per share)	$ 1.20			$ 1
Add’l Paid in Capital
Issuance of common stock through stock awards (in shares)		7,197	241,750	5,300,000	4,685,000	149,000
Exercise of stock options (in shares)	114,440	13,131	26,190	26,880	38,265	82,101
Issuance of common stock through employee purchase plan (in shares)	35,016	32,172	36,347	25,347	30,302	31,824
Treasury Stock
Purchase of treasury stock (in shares)	588		95,091	665		65,290
Accumulated Deficit
Cash dividends declared per share of common stock (in dollars per share)	$ 1.20	$ 1.20	$ 1.10	$ 1	$ 0.75	$ 0.75
Preferred stock dividend shares (in dollars per share)	$ 15.95	$ 15.95	$ 15.95	$ 15.95	$ 15.95	$ 15.95

Condensed Consolidated Balanc_4

Condensed Consolidated Balance Sheets (Parenthetical) (Subsidiary) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Allowance for doubtful accounts	$ 11,388	$ 11,195
Current deferred financing costs	651	585
Noncurrent deferred financing costs	33,494	36,274
LAMAR MEDIA CORP. AND SUBSIDIARIES
Allowance for doubtful accounts	11,388	11,195
Current deferred financing costs	651	585
Noncurrent deferred financing costs	$ 33,494	$ 36,274
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	3,000	3,000
Common stock, shares issued (in shares)	100	100
Common stock, shares outstanding (in shares)	100	100

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	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 2021 Combined Form 10-K. Subsequent events, if any, are evaluated through the date on which the financial statements are issued. On July 1, 2022, the Company's direct wholly owned subsidiary Lamar Media Corp. (“Lamar Media”) entered into the Amended and Restated Limited Partnership Agreement (the “Partnership Agreement”) of Lamar Advertising Limited Partnership (the “OP”) as the initial limited partner, along with its wholly owned subsidiary, Lamar Advertising General Partner, LLC, as the general partner of the OP (the “General Partner”). Lamar Media formed the OP and contributed all of its assets to the OP in connection with the Company’s reorganization (the "Reorganization") as a specific type of real estate investment trust (“REIT”) known as an Umbrella Partnership Real Estate Investment Trust (“UPREIT”). The Company completed the Reorganization to facilitate tax-deferred contributions of properties to the OP in exchange for limited partnership interests in the OP. The Reorganization did not have a material impact on our condensed consolidated financial statements.

Revenues

Revenues	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Advertising revenues : The majority of our revenues are derived from contracts for advertising space on billboard, logo and transit displays. Contracts which do not meet the criteria of a lease under ASC 842, Leases are accounted for under ASC 606, Revenue from Contracts with Customers . The majority of our advertising space contracts do not meet the definition of a lease under ASC 842 and are therefore accounted for under ASC 606. The contract revenues are recognized ratably over their contract life. Costs to fulfill a contract, which include our costs to install advertising copy onto billboards, are capitalized and amortized to direct advertising expenses (exclusive of depreciation and amortization) in the Condensed Consolidated Statements of Income and Comprehensive Income. Other revenues: Our other component of revenue primarily consists of production services which includes creating and printing the advertising copy. 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: The Company is utilizing the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within direct advertising expenses (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 for the three and nine months ended September 30, 2022 and 2021. Three Months Ended Nine Months Ended 2022 2021 2022 2021 Billboard advertising $ 471,450 $ 430,103 $ 1,337,015 $ 1,169,426 Logo advertising 19,632 19,720 60,137 58,820 Transit advertising 36,308 27,071 99,478 64,581 Net revenues $ 527,390 $ 476,894 $ 1,496,630 $ 1,292,827

Leases

Leases	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Leases	Leases During the three months ended September 30, 2022 and 2021, we had operating lease costs of $74,927 and $72,789, respectively, and variable lease costs of $17,910 and $22,514, respectively. During the nine months ended September 30, 2022 and 2021, we had operating lease costs of $227,129 and $218,139, respectively, and variable lease costs of $45,785 and $56,507, respectively. These operating lease costs are recorded in direct advertising expenses (exclusive of depreciation and amortization). For the three months ended September 30, 2022 and 2021, we recorded a (gain) loss of ($106) and $349, respectively, in gain on disposition of assets related to the amendment and termination of lease agreements. For the nine months ended September 30, 2022 and 2021, we recorded a (gain) loss of ($576) and $296, respectively, in gain on disposition of assets related to the amendment and termination of lease agreements. Cash payments of $255,436 and $243,690 were made reducing our operating lease liabilities for the nine months ended September 30, 2022 and 2021, respectively, 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 $1,943 and $1,579 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the three months ended September 30, 2022 and 2021, respectively. We recorded $5,494 and $4,471 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the nine months ended September 30, 2022 and 2021, respectively. Our operating leases have a weighted-average remaining lease term of 12.3 years. The weighted-average discount rate of our operating leases is 4.6%. Also, during the periods ended September 30, 2022 and 2021, we obtained $37,518 and $25,401, respectively, of leased assets in exchange for new operating lease liabilities, which includes liabilities obtained through acquisitions. The following is a summary of the maturities of our operating lease liabilities as of September 30, 2022: 2022 $ 38,728 2023 214,565 2024 182,568 2025 155,303 2026 130,949 Thereafter 868,615 Total undiscounted operating lease payments 1,590,728 Less: Imputed interest (402,633) Total operating lease liabilities $ 1,188,095 During the three months ended September 30, 2022 and 2021, $713 of amortization expense for each period and $135 and $145 of interest expense relating to our financing lease liabilities were recorded in depreciation and amortization and interest expense, respectively, in the Condensed Consolidated Statements of Income and Comprehensive Income. During the nine months ended September 30, 2022 and 2021, $2,140 of amortization expense for each period and $412 and $443 of interest expense relating to our financing lease liabilities were recorded in depreciation and amortization and interest expense, respectively, in the Condensed Consolidated Statements of Income and Comprehensive Income. Cash payments of $998 were made reducing our financing lease liabilities for each of the nine months ended September 30, 2022 and 2021 and are included in cash flows used in financing activities in the Condensed Consolidated Statements of Cash Flows. Our financing leases have a weighted-average remaining lease term of 5.2 years and a weighted-average discount rate of 3.1%. Due to our election not to reassess conclusions about lease identification as part of the adoption of ASC 842, Leases , our transit agreements were accounted for as leases on January 1, 2019. As we enter into new or renew current transit agreements, those agreements do not meet the criteria of a lease under ASC 842, therefore they are no longer accounted for as a lease. For the three months ended September 30, 2022 and 2021, non-lease variable transit payments were $22,019 and $8,625, respectively. For the nine months ended September 30, 2022 and 2021, non-lease variable transit payments were $63,538 and $19,213, respectively. These transit expenses are recorded in direct advertising expenses (exclusive of depreciation and amortization) on the Condensed Consolidated Statements of Income and Comprehensive Income.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions During the nine months ended September 30, 2022, the Company completed over 50 acquisitions of outdoor advertising assets for a total purchase price of $287,860. Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying condensed consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition purchase price has been allocated to assets acquired and liabilities assumed based on preliminary fair market value estimates at the dates of acquisition. The following is a summary of the allocation of the purchase price in the above transactions, which includes the preliminary values for the acquisition of Burkhart Advertising Inc., which was completed on May 4, 2022 for an aggregate purchase price of $130,000. Total Property, plant and equipment $ 41,876 Goodwill 66,514 Site locations 156,154 Non-competition agreements 2,023 Customer lists and contracts 21,646 Asset acquisition costs 604 Current assets 1,857 Current liabilities (6,367) Operating lease right of use assets 32,184 Operating lease liabilities (28,631) $ 287,860 Total acquired intangible assets for the nine months ended September 30, 2022 were $246,941, of which $66,514 was assigned to goodwill. Goodwill is not amortized for financial statement purposes and $456 of goodwill related to 2022 acquisitions is expected to be deductible for tax purposes. The acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $21,646 (7 year weighted average useful life) and site locations of $156,154 (15 year weighted average useful life). The aggregate amortization expense related to the 2022 acquisitions for the nine months ended September 30, 2022 was $9,234. The following unaudited pro forma financial information for the Company gives effect to the 2022 and 2021 acquisitions as if they had occurred on January 1, 2021. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company's results of operations for any future period. Three Months Ended Nine Months Ended 2022 2021 2022 2021 (unaudited) Net revenues $ 527,648 $ 496,342 $ 1,506,087 $ 1,346,542 Net income applicable to common stock $ 146,155 $ 111,907 $ 370,122 $ 265,214 Net income per common share- basic $ 1.44 $ 1.11 $ 3.65 $ 2.62 Net income per common share- diluted $ 1.44 $ 1.10 $ 3.64 $ 2.62

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	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 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 151,500 shares of its Class A common stock during the nine months ended September 30, 2022. At September 30, 2022 a total of 1,963,413 shares were available for future grant. Stock Purchase Plan. On May 30, 2019, our shareholders approved Lamar Advertising’s 2019 Employee Stock Purchase Plan (the “2019 ESPP”). The number of shares of Class A common stock available under the 2019 ESPP was automatically increased by 86,853 shares on January 1, 2022 pursuant to the automatic increase provisions of the 2019 ESPP. The following is a summary of 2019 ESPP share activity for the nine months ended September 30, 2022: Shares Available for future purchases, January 1, 2022 342,226 Additional shares reserved under 2019 ESPP 86,853 Purchases (103,535) Available for future purchases, September 30, 2022 325,544 Performance-based stock 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 2022 results. Any shares issued based on the achievement of performance goals will be issued in the first quarter of 2023. 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 three months ended September 30, 2022 and 2021, the Company recorded $3,830 and $11,521, respectively, as stock-based compensation expense related to performance-based awards. For the nine months ended September 30, 2022 and 2021, the Company recorded $9,789 and $18,379 , respectively, as stock-based compensation expense related to performance-based awards. LTIP Units . In addition to performance-based stock compensation, the Company may issue LTIP Units of the OP, a subsidiary of the Company, to certain officers, employees and directors under the Incentive Plan of the Company. Such LTIP Units are subject to vesting and forfeiture conditions based on performance criteria approved by the Compensation Committee, which mirrors the performance criteria applicable to the Company's performance-based stock compensation, as described above. LTIP Units are a class of units intended to qualify as “profits interests” of the OP. The LTIP Units convert into Common Units of the OP upon the occurrence of certain events. Common Units are redeemable by the holder for cash, or at the option of the general partner of the OP, shares of the Company’s Class A common stock after a holding period of twelve months. On July 1, 2022, the OP issued a total of 88,000 LTIP Units to the Company’s executive officers. Restricted stock compensation. Annually, 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. For the three months ended September 30, 2022 and 2021, the Company recorded $73 and $70, respectively, in stock-based compensation expense related to these awards. For the nine months ended September 30, 2022 and 2021, the Company recorded $502 and $544, respectively, in stock-based compensation expense related to these awards.

Depreciation and Amortization

Depreciation and Amortization	9 Months Ended
	Sep. 30, 2022
Depreciation, Depletion and Amortization [Abstract]
Depreciation and Amortization	Depreciation and Amortization The Company includes all categories of depreciation and amortization on a separate line in its Condensed Consolidated Statements of Income and Comprehensive Income. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Condensed Consolidated Statements of Income and Comprehensive Income are as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Direct advertising expenses $ 60,842 $ 80,068 $ 187,992 $ 192,816 General and administrative expenses 1,538 1,068 3,984 3,338 Corporate expenses 3,453 3,164 10,234 9,517 $ 65,833 $ 84,300 $ 202,210 $ 205,671

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following is a summary of intangible assets at September 30, 2022 and December 31, 2021: Estimated September 30, 2022 December 31, 2021 Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists and contracts 7—10 $ 698,330 $ 607,675 $ 676,846 $ 587,056 Non-competition agreements 3—15 71,293 65,449 69,276 64,941 Site locations 15 2,774,518 1,754,384 2,619,531 1,680,333 Other 2—15 51,866 40,141 51,261 39,407 $ 3,596,007 $ 2,467,649 $ 3,416,914 $ 2,371,737 Unamortizable intangible assets: Goodwill $ 2,256,283 $ 253,536 $ 2,189,962 $ 253,536

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	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, 2021 $ 269,367 Additions to asset retirement obligations 4,593 Revision in estimates 3,524 Accretion expense 3,162 Liabilities settled (2,554) Balance at September 30, 2022 $ 278,092

Distribution Restrictions

Distribution Restrictions	9 Months Ended
	Sep. 30, 2022
Distribution Restrictions [Abstract]
Distribution Restrictions	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 September 30, 2022 and December 31, 2021, Lamar Media was permitted under the terms of its outstanding notes to make transfers to Lamar Advertising in the form of cash dividends, loans or advances in amounts up to $4,134,731 and $3,921,979, respectively. As of September 30, 2022, Lamar Media’s senior credit facility allows it to make transfers to Lamar Advertising in any taxable year up to the amount of Lamar Advertising’s taxable income (without any deduction for dividends paid). In addition, as of September 30, 2022, transfers to Lamar Advertising are permitted under Lamar Media’s senior credit facility and as defined therein up to the available cumulative credit, as long as no default has occurred and is continuing and, after giving effect to such distributions, (i) the total debt ratio is less than 7.0 to 1 and (ii) the secured debt ratio does not exceed 4.5 to 1. As of September 30, 2022, the total debt ratio was less than 7.0 to 1 and Lamar Media’s secured debt ratio was less than 4.5 to 1, and the available cumulative credit was $2,885,210.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per ShareThe 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 nine months ended September 30, 2022 or 2021.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consists of the following at September 30, 2022 and December 31, 2021: September 30, 2022 Debt Deferred Debt, net of Senior Credit Facility $ 948,907 $ 8,851 $ 940,056 Accounts Receivable Securitization Program 200,000 651 199,349 3 3/4% Senior Notes 600,000 6,263 593,737 3 5/8% Senior Notes 550,000 7,167 542,833 4% Senior Notes 549,418 6,650 542,768 4 7/8% Senior Notes 400,000 4,563 395,437 Other notes with various rates and terms 2,105 — 2,105 3,250,430 34,145 3,216,285 Less current maturities (200,373) (651) (199,722) Long-term debt, excluding current maturities $ 3,050,057 $ 33,494 $ 3,016,563 December 31, 2021 Debt Deferred Debt, net of Senior Credit Facility $ 773,717 $ 9,306 $ 764,411 Accounts Receivable Securitization Program 175,000 585 174,415 3 3/4% Senior Notes 600,000 7,036 592,964 3 5/8% Senior Notes 550,000 7,711 542,289 4% Senior Notes 549,359 7,208 542,151 4 7/8% Senior Notes 400,000 5,013 394,987 Other notes with various rates and terms 2,378 — 2,378 3,050,454 36,859 3,013,595 Less current maturities (175,363) (585) (174,778) Long-term debt, excluding current maturities $ 2,875,091 $ 36,274 $ 2,838,817 Senior Credit Facility On February 6, 2020, Lamar Media entered into a Fourth Amended and Restated Credit Agreement (the “Fourth Amended and Restated Credit Agreement”) with certain of Lamar Media’s subsidiaries as guarantors, JPMorgan Chase Bank, N.A. as administrative agent and the lenders party thereto, under which the parties agreed to amend and restate Lamar Media’s existing senior credit facility. The Fourth Amended and Restated Credit Agreement amended and restated the Third Amended and Restated Credit Agreement dated as of May 15, 2017, as amended (the “Third Amended and Restated Credit Agreement”). The senior credit facility, as established by the Fourth Amended and Restated Credit Agreement (the “senior credit facility”), consists of (i) a $750,000 senior secured revolving credit facility which will mature on February 6, 2025 (the “revolving credit facility”), (ii) a $600,000 Term B loan facility (the “Term B loans”) which will mature on February 6, 2027, and (iii) an incremental facility (the “Incremental Facility”) pursuant to which Lamar Media may incur additional term loan tranches or increase its revolving credit facility subject to a pro forma secured debt ratio of 4.50 to 1.00, as well as certain other conditions including lender approval. Lamar Media borrowed all $600,000 in Term B loans on February 6, 2020. The entire amount of the Term B loans will be payable at maturity. The net proceeds from the Term B loans, together with borrowings under the revolving portion of the senior credit facility and a portion of the proceeds of the issuance of the 3 3/4% Senior Notes due 2028 and 4% Senior Notes due 2030 (both as described below), were used to repay all outstanding amounts under the Third Amended and Restated Credit Agreement, and all revolving commitments under that facility were terminated. The Term B loans mature on February 6, 2027 with no required amortization payments. The Term B 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 1.50%. Base Rate term loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 0.50%. 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 1.50% (or the Adjusted LIBO Rate plus 1.25% at any time the Total Debt Ratio is less than or equal to 3.25 to 1). Base Rate revolving loans bear interest at a rate per annum equal to the Adjusted Base Rate plus 0.50% (or the Adjusted Base Rate plus 0.25% at any time the total debt ratio is less than or equal to 3.25 to 1). The guarantees, covenants, events of default and other terms of the senior credit facility apply to the Term B loans and revolving credit facility. On July 29, 2022, Lamar Media entered into Amendment No. 2 (the "Amendment No. 2") to the Fourth Amended and Restated Credit Agreement with certain of Lamar Media's subsidiaries as guarantors, JPMorgan Chase Bank, N.A. as administrative agent and the lenders party thereto. Amendment No. 2 establishes a new $350,000 Senior Secured Term Loan A loan (the "Term A loans") as a new class of incremental term loans. The Term A loans will mature on February 6, 2025 with no required amortization payments prior to maturity and bear interest at rates based on the Term Secured Overnight Financing Rate ("Term SOFR") plus 1.25% and a credit spread adjustment of 0.10%. The covenants, events of default and other terms of the senior credit facility apply to the Term A loans. Lamar Media borrowed all $350,000 in Term A loans on July 29, 2022. The entire amount of the Term A loans will be payable at maturity. Proceeds from the Term A loans were used to repay outstanding balances on the revolving credit facility and a portion of the outstanding balance on the Accounts Receivable Securitization Program. As of September 30, 2022, there were no borrowings outstanding under the revolving credit facility. Availability under the revolving credit facility is reduced by the amount of any letters of credit outstanding. Lamar Media had $11,313 in letters of credit outstanding as of September 30, 2022 resulting in $738,687 of availability under its revolving credit facility. Revolving credit loans may be requested under the revolving credit facility at any time prior to its maturity on February 6, 2025. The terms of Lamar Media’s senior credit facility and the indentures relating to Lamar Media’s outstanding notes restrict, among other things, the ability of Lamar Advertising and Lamar Media to: • dispose of assets; • incur or repay debt; • create liens; • make investments; and • pay dividends. The senior credit facility contains provisions that allow Lamar Media to conduct its affairs in a manner that allows Lamar Advertising to qualify and remain qualified as a REIT, including by allowing Lamar Media to make distributions to Lamar Advertising required for the Company to qualify and remain qualified for taxation as a REIT, subject to certain restrictions. Lamar Media’s ability to make distributions to Lamar Advertising is also restricted under the terms of these agreements. Under Lamar Media’s senior credit facility, the Company must maintain a specified secured debt ratio as long as a revolving credit commitment, revolving loan or letter of credit remains outstanding, 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 “Receivable Financing Agreement”) with its wholly-owned special purpose entities, Lamar QRS Receivables, LLC and Lamar TRS Receivables, LLC (the “Special Purpose Subsidiaries”) (the "Accounts Receivable Securitization Program"). The Accounts Receivable Securitization Program is limited to the availability of eligible accounts receivable collateralizing the borrowings under the agreements governing the Accounts Receivable Securitization 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 Accounts Receivable Securitization Program. Lamar Media retains the responsibility of servicing the accounts receivable balances pledged as collateral under the Accounts Receivable Securitization Program and provides a performance guaranty. On June 24, 2022, Lamar Media and the Special Purpose Subsidiaries entered into the Sixth Amendment (the "Sixth Amendment") to the Receivables Financing Agreement. The Sixth Amendment increased the Accounts Receivable Securitization Program from $175,000 to $250,000 and extended the maturity date of the Accounts Receivable Securitization Program to July 21, 2025. Additionally, the Sixth Amendment provides for the replacement of LIBOR-based interest rate mechanics with Term SOFR based interest rate mechanics for the Accounts Receivable Securitization Program. As of September 30, 2022 there was $200,000 outstanding aggregate borrowings under the Accounts Receivable Securitization Program. Based on the availability of eligible accounts, Lamar Media had an additional $39,200 available for borrowing under the Accounts Receivable Securitization Program as of September 30, 2022. The commitment fees based on the amount of unused commitments under the Accounts Receivable Securitization Program were immaterial during the nine months ended September 30, 2022. The Accounts Receivable Securitization Program will mature on July 21, 2025. Lamar Media may amend the facility to extend the maturity date, enter into a new securitization facility with a different maturity date, or refinance the indebtedness outstanding under the Accounts Receivable Securitization Program using borrowings under its senior credit facility or from other financing sources. The Accounts Receivable Securitization 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 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 “Original 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 of its 5 3/4% Notes (the “Additional 5 3/4% Notes", and together with the Original 5 3/4% Notes, the "5 3/4% Notes”). Other than with respect to the date of issuance, issue price and CUSIP number, the Additional 5 3/4% Notes have the same terms as the Original 5 3/4% Notes. The net proceeds after underwriting fees and expenses, was approximately $251,500. On February 3, 2021, Lamar Media redeemed in full all $650,000 aggregate principal amount 5 3/4% Notes. The 5 3/4% Notes redemption was completed using the proceeds received from the 3 5/8% Notes offering completed on January 22, 2021 (as described below), together with cash on hand and borrowings under the revolving credit facility and Accounts Receivable Securitization Program. The 5 3/4% Notes were redeemed at a redemption price equal to 102.875% of the aggregate principal amount of the outstanding notes, plus accrued and unpaid interest to (but not including) the redemption date. During the nine months ended September 30, 2021, the Company recorded a loss on debt extinguishment of approximately $21,604 related to the note redemption, of which $18,700 was in cash. 4% Senior Notes On February 6, 2020, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 4% Senior Notes due 2030 (the “Original 4% Notes”). The institutional private placement on February 6, 2020 resulted in net proceeds to Lamar Media of approximately $395,000. On August 19, 2020, Lamar Media completed an institutional private placement of an additional $150,000 aggregate principal amount of its 4% Notes (the “Additional 4% Notes”, and together with the Original 4% Notes, the "4% Notes"). Other than with respect to the date of issuance and issue price, the Additional 4% Notes have the same terms as the Original 4% Notes. The institutional private placement on August 19, 2020 resulted in net proceeds to Lamar Media of approximately $146,900. Lamar Media may redeem up to 40% of the aggregate principal amount of the 4% Notes, at any time and from time to time, at a price equal to 104% of the aggregate principal amount redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before February 15, 2023, provided that following the redemption, at least 60% of the 4% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to February 15, 2025, Lamar Media may redeem some or all of the 4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after February 15, 2025, Lamar Media may redeem the 4% Notes, in whole or in part, in cash at redemption prices specified in the 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 4% Notes at a price equal to 101% of the principal amount of the 4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. 3 3/4% Senior Notes On February 6, 2020, Lamar Media completed an institutional private placement of $600,000 aggregate principal amount of 3 3/4% Senior Notes due 2028 (the “3 3/4% Notes”). The institutional private placement on February 6, 2020 resulted in net proceeds to Lamar Media of approximately $592,500. Lamar Media may redeem up to 40% of the aggregate principal amount of 3 3/4% Notes, at any time and from time to time, at a price equal to 103.75% of the aggregate principal amount redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before February 15, 2023, provided that following the redemption, at least 60% of the 3 3/4% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to February 15, 2023, Lamar Media may redeem some or all of the 3 3/4% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after February 15, 2023, Lamar Media may redeem the 3 3/4% Notes, in whole or in part, in cash at redemption prices specified in the 3 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 3 3/4% Notes at a price equal to 101% of the principal amount of the 3 3/4% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. 4 7/8% Senior Notes On May 13, 2020, Lamar Media completed an institutional private placement of $400,000 aggregate principal amount of 4 7/8% Senior Notes due 2029 (the “4 7/8% Notes”). The institutional private placement on May 13, 2020 resulted in net proceeds to Lamar Media of approximately $395,000. Lamar Media may redeem up to 40% of the aggregate principal amount of the 4 7/8% Notes, at any time and from time to time, at a price equal to 104.875% of the aggregate principal amount redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before May 15, 2023, provided that following the redemption, at least 60% of the 4 7/8% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to January 15, 2024, Lamar Media may redeem some or all of the 4 7/8% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after January 15, 2024, Lamar Media may redeem the 4 7/8% Notes, in whole or in part, in cash at redemption prices specified in the 4 7/8% 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 4 7/8% Notes at a price equal to 101% of the principal amount of the 4 7/8% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. 3 5/8% Senior Notes On January 22, 2021, Lamar Media completed an institutional private placement of $550,000 aggregate principal amount of 3 5/8% Senior Notes due 2031 (the “3 5/8% Notes”). The institutional private placement on January 22, 2021 resulted in net proceeds to Lamar Media of approximately $542,500. Lamar Media may redeem up to 40% of the aggregate principal amount of the 3 5/8% Notes, at any time and from time to time, at a price equal to 103.625% of the aggregate principal amount so redeemed, plus accrued and unpaid interest thereon, with the net cash proceeds of certain public equity offerings completed before January 15, 2024 provided that following the redemption, at least 60% of the 3 5/8% Notes that were originally issued remain outstanding and any such redemption occurs within 120 days following the closing of any such public equity offering. At any time prior to January 15, 2026, Lamar Media may redeem some or all of the 3 5/8% Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon and a make-whole premium. On or after January 15, 2026, Lamar Media may redeem the 3 5/8% Notes, in whole or in part, in cash at redemption prices specified in the 3 5/8% 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 3 5/8% Notes at a price equal to 101% of the principal amount of the 3 5/8% Notes, plus accrued and unpaid interest, up to but not including the repurchase date. Debt Repurchase Program On March 16, 2020, the Company’s Board of Directors authorized Lamar Media to repurchase up to $250,000 in outstanding senior or senior subordinated notes and other indebtedness outstanding from time to time under its Fourth Amended and Restated Credit Agreement. On September 20, 2021, the Board of Directors authorized the extension of the repurchase program through March 31, 2023. There were no repurchases under the program as of September 30, 2022.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsAt September 30, 2022 and December 31, 2021, 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. The estimated fair value of the Company’s long-term debt (including current maturities) was $2,874,199 which does not exceed the carrying amount of $3,250,430 as of September 30, 2022. 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).

Investments

Investments	9 Months Ended
	Sep. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments	InvestmentsOn July 12, 2021, Lamar invested $30,000 to acquire a 20% minority interest in Vistar Media, a leading global provider of programmatic technology for the digital out-of-home sector. This investment is accounted for as an equity method investment and is included in other assets on the Condensed Consolidated Balance Sheet. For the three months ended September 30, 2022 and 2021, the Company recorded $1,554 and $1,141, respectively, in equity in earnings of investee on the Condensed Consolidated Statement of Income and Comprehensive Income. For the nine months ended September 30, 2022 and 2021, the Company recorded $2,593 and $1,141, respectively, in equity in earnings of investee on the Condensed Consolidated Statement of Income and Comprehensive Income.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate if certain criteria are met. In January 2021, the FASB clarified the scope of this guidance with the issuance of ASU 2021-01, Reference Rate Reform: Scope . ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. As of September 30, 2022, the Company has modified the Accounts Receivable Securitization Program to provide for the replacement of LIBOR-based interest rates with Term SOFR based interest rates. The Term A loans established July 29, 2022 also bear interest using Term SOFR rates. This modification is not expected to have a material impact on the Company's consolidated financial statements. In October 2021, the FASB issued ASU 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which provides guidance on the recognition and measurement of contract assets and contract liabilities acquired in a business combination. At the acquisition date, the acquirer should account for the related revenue contracts as if the acquirer had originated the contracts. The guidance also provides certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination. This guidance is effective for public entities as of December 15, 2022. We do not anticipate the adoption of this guidance will have a material impact on the Company's consolidated financial statements.

Dividends_Distributions

Dividends/Distributions	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Dividends/Distributions	Dividends/DistributionsDuring the three months ended September 30, 2022 and 2021, the Company declared and paid cash distributions in an aggregate amount of $122,100 or $1.20 per share and $101,225 or $1.00 per share, respectively. During the nine months ended September 30, 2022 and 2021, the Company declared and paid cash distributions in an aggregate amount of $355,510 or $3.50 per share and $252,917 or $2.50 per share, respectively. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its taxable REIT subsidiaries (TRSs), the impact of general economic conditions on the Company’s operations and other factors that the Board of Directors may deem relevant. During the three and nine months ended September 30, 2022 and 2021, 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 and $273 or $47.85 per share for each period, respectively.

Information about Geographic Ar

Information about Geographic Areas	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Information about Geographic Areas	Information about Geographic AreasRevenues from external customers attributable to foreign countries totaled $21,721 and $17,568 for the nine months ended September 30, 2022 and 2021, respectively. Net carrying value of long-lived assets located in foreign countries totaled $11,277 and $11,318 as of September 30, 2022 and December 31, 2021, respectively. All other revenues from external customers and long-lived assets relate to domestic operations.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Sales Agreement. 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. Under the terms of the Sales Agreement, the Company could have, from time to time, issued and sold shares of its Class A common stock, having an aggregate offering price of up to $400,000, through the sales agents party thereto as either agents or principals. The Sales Agreement expired by its terms on May 1, 2021 and as of that date, 842,412 shares of our Class A common stock were sold under the Sales Agreement. On June 21, 2021, the Company entered into a new equity distribution agreement (the "2021 Sales Agreement") with J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Truist Securities, Inc., SMBC Nikko Securities America, Inc. and Scotia Capital (USA) Inc. as our sales agents (each a "Sales Agent", and collectively, the "Sales Agents"), which replaced the prior Sales Agreement with substantially similar terms. Under the terms of the 2021 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. 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 directly 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 2021 Sales Agreement and may at any time suspend solicitations and offers under the 2021 Sales Agreement. As of September 30, 2022, no shares of our Class A common stock have been sold under the 2021 Sales Agreement and accordingly $400,000 remained available to be sold under the 2021 Sales Agreement as of September 30, 2022. Shelf Registration. On June 21, 2021, the Company filed an automatically effective shelf registration statement that allows Lamar Advertising to offer and sell an indeterminate amount of additional shares of its Class A common stock. During the nine months ended September 30, 2022 and the year ended December 31, 2021, the Company did not issue any shares under this shelf registration. Stock Repurchase Program. On March 16, 2020, the Company’s Board of Directors authorized the repurchase of up to $250,000 of the Company’s Class A common stock. On September 20, 2021, the Board of Directors authorized the extension of the repurchase program through March 31, 2023. There were no repurchases under the program as of September 30, 2022.

Significant Accounting Polici_2

Significant Accounting Policies (Subsidiary)	9 Months Ended
	Sep. 30, 2022
Significant Accounting Policies	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 2021 Combined Form 10-K. Subsequent events, if any, are evaluated through the date on which the financial statements are issued. On July 1, 2022, the Company's direct wholly owned subsidiary Lamar Media Corp. (“Lamar Media”) entered into the Amended and Restated Limited Partnership Agreement (the “Partnership Agreement”) of Lamar Advertising Limited Partnership (the “OP”) as the initial limited partner, along with its wholly owned subsidiary, Lamar Advertising General Partner, LLC, as the general partner of the OP (the “General Partner”). Lamar Media formed the OP and contributed all of its assets to the OP in connection with the Company’s reorganization (the "Reorganization") as a specific type of real estate investment trust (“REIT”) known as an Umbrella Partnership Real Estate Investment Trust (“UPREIT”). The Company completed the Reorganization to facilitate tax-deferred contributions of properties to the OP in exchange for limited partnership interests in the OP. The Reorganization did not have a material impact on our condensed consolidated financial statements.
LAMAR MEDIA CORP. AND SUBSIDIARIES
Significant Accounting Policies	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 2021 Combined Form 10-K. Certain notes are not provided for the accompanying condensed consolidated financial statements as the information in notes 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 16, and 17 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.

Summarized Financial Informatio

Summarized Financial Information of Subsidiaries	9 Months Ended
	Sep. 30, 2022
LAMAR MEDIA CORP. AND SUBSIDIARIES
Condensed Income Statements, Captions [Line Items]
Summarized Financial Information of Subsidiaries	Summarized Financial Information of SubsidiariesSeparate condensed consolidating financial information for Lamar Media, subsidiary guarantors and non-guarantor subsidiaries is 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 September 30, 2022 Lamar Guarantor Non- Eliminations Lamar Media (unaudited) ASSETS Total current assets $ 68,868 $ 36,412 $ 299,241 $ — $ 404,521 Net property, plant and equipment — 1,383,688 15,546 — 1,399,234 Operating lease right of use assets — 1,215,315 20,886 — 1,236,201 Intangibles and goodwill, net — 3,103,512 16,973 — 3,120,485 Other assets 4,464,953 337,622 212,185 (4,913,425) 101,335 Total assets $ 4,533,821 $ 6,076,549 $ 564,831 $ (4,913,425) $ 6,261,776 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ — $ 373 $ 199,349 $ — $ 199,722 Current operating lease liabilities — 172,713 7,394 — 180,107 Other current liabilities 22,696 220,083 12,563 — 255,342 Total current liabilities 22,696 393,169 219,306 — 635,171 Long-term debt 3,014,831 1,732 — — 3,016,563 Operating lease liabilities — 996,306 11,682 — 1,007,988 Other noncurrent liabilities 230,094 301,228 332,061 (527,529) 335,854 Total liabilities 3,267,621 1,692,435 563,049 (527,529) 4,995,576 Stockholder's equity 1,266,200 4,384,114 1,782 (4,385,896) 1,266,200 Total liabilities and stockholder's equity $ 4,533,821 $ 6,076,549 $ 564,831 $ (4,913,425) $ 6,261,776 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, 2021 Lamar Media Guarantor Non- Eliminations Lamar Media ASSETS Total current assets $ 91,119 $ 29,379 $ 267,609 $ — $ 388,107 Net property, plant and equipment — 1,321,526 15,748 — 1,337,274 Operating lease right of use assets — 1,198,934 25,738 — 1,224,672 Intangibles and goodwill, net — 2,953,600 17,383 — 2,970,983 Other assets 4,188,436 311,046 187,044 (4,576,531) 109,995 Total assets $ 4,279,555 $ 5,814,485 $ 513,522 $ (4,576,531) $ 6,031,031 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ — $ 363 $ 174,415 $ — $ 174,778 Current operating lease liabilities — 190,748 7,538 — 198,286 Other current liabilities 22,009 246,030 14,142 — 282,181 Total current liabilities 22,009 437,141 196,095 — 655,245 Long-term debt 2,836,801 2,016 — — 2,838,817 Operating lease liabilities — 977,463 17,893 — 995,356 Other noncurrent liabilities 212,399 292,194 292,281 (463,607) 333,267 Total liabilities 3,071,209 1,708,814 506,269 (463,607) 4,822,685 Stockholder's equity 1,208,346 4,105,671 7,253 (4,112,924) 1,208,346 Total liabilities and stockholder's equity $ 4,279,555 $ 5,814,485 $ 513,522 $ (4,576,531) $ 6,031,031 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 Nine Months Ended September 30, 2022 Lamar Media Guarantor Non- Eliminations Lamar Media Statement of Income (unaudited) Net revenues $ — $ 1,466,109 $ 30,776 $ (255) $ 1,496,630 Operating expenses (income) Direct advertising expenses (1) — 471,633 22,085 (255) 493,463 General and administrative expenses (1) — 255,546 5,377 — 260,923 Corporate expenses (1) — 71,499 2,195 — 73,694 Depreciation and amortization — 199,623 2,587 — 202,210 Gain on disposition of assets — (1,990) — — (1,990) — 996,311 32,244 (255) 1,028,300 Operating income (loss) — 469,798 (1,468) — 468,330 Equity in (earnings) loss of subsidiaries (459,799) — — 459,799 — Interest expense (income), net 86,872 (132) 2,342 — 89,082 Equity in earnings of investee — (2,655) — — (2,655) Income (loss) before income tax expense (benefit) 372,927 472,585 (3,810) (459,799) 381,903 Income tax expense (benefit) (2) — 9,085 (109) — 8,976 Net income (loss) $ 372,927 $ 463,500 $ (3,701) $ (459,799) $ 372,927 Statement of Comprehensive Income Net income (loss) $ 372,927 $ 463,500 $ (3,701) $ (459,799) $ 372,927 Total other comprehensive loss, net of tax — — (1,770) — (1,770) Total comprehensive income (loss) $ 372,927 $ 463,500 $ (5,471) $ (459,799) $ 371,157 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense (benefit) 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 Nine Months Ended September 30, 2021 Lamar Media Guarantor Non- Eliminations Lamar Media Statement of Income (unaudited) Net revenues $ — $ 1,266,818 $ 27,326 $ (1,317) $ 1,292,827 Operating expenses (income) Direct advertising expenses (1) — 402,260 18,030 (1,317) 418,973 General and administrative expenses (1) — 231,091 3,024 — 234,115 Corporate expenses (1) — 62,897 1,151 — 64,048 Depreciation and amortization — 202,660 3,011 — 205,671 Gain on disposition of assets — (1,774) (148) — (1,922) — 897,134 25,068 (1,317) 920,885 Operating income — 369,684 2,258 — 371,942 Equity in (earnings) loss of subsidiaries (366,556) — — 366,556 — Loss on extinguishment of debt 21,604 — — — 21,604 Interest expense (income), net 79,479 (30) 635 — 80,084 Equity in earnings of investee — (1,141) — — (1,141) Income (loss) before income tax expense 265,473 370,855 1,623 (366,556) 271,395 Income tax expense (2) — 5,826 96 — 5,922 Net income (loss) $ 265,473 $ 365,029 $ 1,527 $ (366,556) $ 265,473 Statement of Comprehensive Income Net income (loss) $ 265,473 $ 365,029 $ 1,527 $ (366,556) $ 265,473 Total other comprehensive loss, net of tax — — (84) — (84) Total comprehensive income (loss) $ 265,473 $ 365,029 $ 1,443 $ (366,556) $ 265,389 (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 Nine Months Ended September 30, 2022 Lamar Media Guarantor Non- Eliminations Lamar Media (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 391,078 $ 611,985 $ (30,726) $ (472,917) $ 499,420 Cash flows from investing activities: Acquisitions — (287,860) — — (287,860) Capital expenditures — (113,736) (3,072) — (116,808) Proceeds from disposition of assets and investments — 2,146 — — 2,146 Decrease in notes receivable — 58 — — 58 Investment in subsidiaries (287,860) — — 287,860 — Decrease (increase) in intercompany notes receivable 14,158 — — (14,158) — Net cash (used in) provided by investing activities (273,702) (399,392) (3,072) 273,702 (402,464) Cash flows from financing activities: Proceeds received from revolving credit facility 400,000 — — — 400,000 Payment on revolving credit facility (575,000) — — — (575,000) Principal payments on long-term debt — (273) — — (273) Principal payments on financing leases — (998) — — (998) Proceeds received from senior credit facility term loans 350,000 — — — 350,000 Payment on accounts receivable securitization program — — (115,000) — (115,000) Proceeds received from accounts receivable securitization program — — 140,000 — 140,000 Debt issuance costs (1,328) — (236) — (1,564) Intercompany loan (payments) proceeds — (28,204) 14,046 14,158 — Distributions to non-controlling interest — — (1,019) — (1,019) Dividends (to) from parent (366,015) (472,917) — 472,917 (366,015) Contributions from (to) parent 52,712 287,860 — (287,860) 52,712 Net cash (used in) provided by financing activities (139,631) (214,532) 37,791 199,215 (117,157) Effect of exchange rate changes in cash and cash equivalents — — (232) — (232) Net (decrease) increase in cash and cash equivalents (22,255) (1,939) 3,761 — (20,433) Cash and cash equivalents at beginning of period 91,023 3,494 4,771 — 99,288 Cash and cash equivalents at end of period $ 68,768 $ 1,555 $ 8,532 $ — $ 78,855 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 Nine Months Ended September 30, 2021 Lamar Media Guarantor Non- Eliminations Lamar Media (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 380,225 $ 584,251 $ (26,729) $ (467,049) $ 470,698 Cash flows from investing activities: Acquisitions — (107,593) — — (107,593) Capital expenditures — (67,767) (3,746) — (71,513) Payment for investments in equity securities — (30,000) — — (30,000) Proceeds from disposition of assets and investments — 5,761 — — 5,761 Investment in subsidiaries (107,593) — — 107,593 — Decrease (increase) in intercompany notes receivable 53,515 — — (53,515) — Decrease in notes receivable — 107 — — 107 Net cash (used in) provided by investing activities (54,078) (199,492) (3,746) 54,078 (203,238) Cash flows from financing activities: Proceeds received from revolving credit facility 25,000 — — — 25,000 Payment on revolving credit facility (25,000) — — — (25,000) Principal payments on long-term debt — (282) — — (282) Principal payments on financing leases — (998) — — (998) Proceeds received from note offering 550,000 — — — 550,000 Payment on accounts receivable securitization program — — (67,500) — (67,500) Proceeds received from accounts receivable securitization program — — 120,000 — 120,000 Redemption of senior notes (668,688) — — — (668,688) Debt issuance costs (8,224) — (438) — (8,662) Intercompany loan (payments) proceeds — (24,119) (29,396) 53,515 — Distributions to non-controlling interest — — (82) — (82) Dividends (to) from parent (258,703) (467,049) — 467,049 (258,703) Contributions from (to) parent 33,312 107,593 — (107,593) 33,312 Net cash (used in) provided by financing activities (352,303) (384,855) 22,584 412,971 (301,603) Effect of exchange rate changes in cash and cash equivalents — — 143 — 143 Net decrease in cash and cash equivalents (26,156) (96) (7,748) — (34,000) Cash and cash equivalents at beginning of period 110,588 1,732 8,749 — 121,069 Cash and cash equivalents at end of period $ 84,432 $ 1,636 $ 1,001 $ — $ 87,069

Significant Accounting Polici_3

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Subsequent Events	Subsequent events, if any, are evaluated through the date on which the financial statements are issued.
Advertising Revenues, Other Revenues, Arrangements with Multiple Performance Obligations, Deferred Revenues, Practical Expedients and Exemptions	Advertising revenues : The majority of our revenues are derived from contracts for advertising space on billboard, logo and transit displays. Contracts which do not meet the criteria of a lease under ASC 842, Leases are accounted for under ASC 606, Revenue from Contracts with Customers . The majority of our advertising space contracts do not meet the definition of a lease under ASC 842 and are therefore accounted for under ASC 606. The contract revenues are recognized ratably over their contract life. Costs to fulfill a contract, which include our costs to install advertising copy onto billboards, are capitalized and amortized to direct advertising expenses (exclusive of depreciation and amortization) in the Condensed Consolidated Statements of Income and Comprehensive Income. Other revenues: Our other component of revenue primarily consists of production services which includes creating and printing the advertising copy. 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: The Company is utilizing the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within direct advertising expenses (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.
Fair Value of Financial Instruments	Fair Value of Financial InstrumentsAt September 30, 2022 and December 31, 2021, 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. The estimated fair value of the Company’s long-term debt (including current maturities) was $2,874,199 which does not exceed the carrying amount of $3,250,430 as of September 30, 2022. 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 In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions to account for contracts, hedging relationships and other transactions that reference the London Interbank Offered Rate (“LIBOR”) or another reference rate if certain criteria are met. In January 2021, the FASB clarified the scope of this guidance with the issuance of ASU 2021-01, Reference Rate Reform: Scope . ASU 2020-04 may be applied prospectively to contract modifications made and hedging relationships entered into or evaluated on or before December 31, 2022. As of September 30, 2022, the Company has modified the Accounts Receivable Securitization Program to provide for the replacement of LIBOR-based interest rates with Term SOFR based interest rates. The Term A loans established July 29, 2022 also bear interest using Term SOFR rates. This modification is not expected to have a material impact on the Company's consolidated financial statements. In October 2021, the FASB issued ASU 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which provides guidance on the recognition and measurement of contract assets and contract liabilities acquired in a business combination. At the acquisition date, the acquirer should account for the related revenue contracts as if the acquirer had originated the contracts. The guidance also provides certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination. This guidance is effective for public entities as of December 15, 2022. We do not anticipate the adoption of this guidance will have a material impact on the Company's consolidated financial statements.
Dividends And Distributions	The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its taxable REIT subsidiaries (TRSs), the impact of general economic conditions on the Company’s operations and other factors that the Board of Directors may deem relevant.
LAMAR MEDIA CORP. AND SUBSIDIARIES
Subsidiary or Equity Method Investee [Line Items]
Nature of Business	Certain notes are not provided for the accompanying condensed consolidated financial statements as the information in notes 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 16, and 17 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 (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation Revenue	The following table presents our disaggregated revenue by source for the three and nine months ended September 30, 2022 and 2021. Three Months Ended Nine Months Ended 2022 2021 2022 2021 Billboard advertising $ 471,450 $ 430,103 $ 1,337,015 $ 1,169,426 Logo advertising 19,632 19,720 60,137 58,820 Transit advertising 36,308 27,071 99,478 64,581 Net revenues $ 527,390 $ 476,894 $ 1,496,630 $ 1,292,827

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2022
Leases [Abstract]
Summary of Maturities of Operating Lease Liabilities	The following is a summary of the maturities of our operating lease liabilities as of September 30, 2022: 2022 $ 38,728 2023 214,565 2024 182,568 2025 155,303 2026 130,949 Thereafter 868,615 Total undiscounted operating lease payments 1,590,728 Less: Imputed interest (402,633) Total operating lease liabilities $ 1,188,095

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following is a summary of the allocation of the purchase price in the above transactions, which includes the preliminary values for the acquisition of Burkhart Advertising Inc., which was completed on May 4, 2022 for an aggregate purchase price of $130,000. Total Property, plant and equipment $ 41,876 Goodwill 66,514 Site locations 156,154 Non-competition agreements 2,023 Customer lists and contracts 21,646 Asset acquisition costs 604 Current assets 1,857 Current liabilities (6,367) Operating lease right of use assets 32,184 Operating lease liabilities (28,631) $ 287,860
Schedule of Business Acquisition, Pro Forma Information	The following unaudited pro forma financial information for the Company gives effect to the 2022 and 2021 acquisitions as if they had occurred on January 1, 2021. These pro forma results do not purport to be indicative of the results of operations which actually would have resulted had the acquisitions occurred on such date or to project the Company's results of operations for any future period. Three Months Ended Nine Months Ended 2022 2021 2022 2021 (unaudited) Net revenues $ 527,648 $ 496,342 $ 1,506,087 $ 1,346,542 Net income applicable to common stock $ 146,155 $ 111,907 $ 370,122 $ 265,214 Net income per common share- basic $ 1.44 $ 1.11 $ 3.65 $ 2.62 Net income per common share- diluted $ 1.44 $ 1.10 $ 3.64 $ 2.62

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Summary of ESPP Share Activity	The following is a summary of 2019 ESPP share activity for the nine months ended September 30, 2022: Shares Available for future purchases, January 1, 2022 342,226 Additional shares reserved under 2019 ESPP 86,853 Purchases (103,535) Available for future purchases, September 30, 2022 325,544

Depreciation and Amortization (

Depreciation and Amortization (Tables)	9 Months Ended
	Sep. 30, 2022
Depreciation, Depletion and Amortization [Abstract]
Schedule of Depreciation and Amortization Expense Excluded from Operating Expenses in its Condensed Consolidated Statements of Income and Comprehensive Income	The amounts of depreciation and amortization expense excluded from the following operating expenses in its Condensed Consolidated Statements of Income and Comprehensive Income are as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Direct advertising expenses $ 60,842 $ 80,068 $ 187,992 $ 192,816 General and administrative expenses 1,538 1,068 3,984 3,338 Corporate expenses 3,453 3,164 10,234 9,517 $ 65,833 $ 84,300 $ 202,210 $ 205,671

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	The following is a summary of intangible assets at September 30, 2022 and December 31, 2021: Estimated September 30, 2022 December 31, 2021 Gross Carrying Accumulated Gross Carrying Accumulated Amortizable intangible assets: Customer lists and contracts 7—10 $ 698,330 $ 607,675 $ 676,846 $ 587,056 Non-competition agreements 3—15 71,293 65,449 69,276 64,941 Site locations 15 2,774,518 1,754,384 2,619,531 1,680,333 Other 2—15 51,866 40,141 51,261 39,407 $ 3,596,007 $ 2,467,649 $ 3,416,914 $ 2,371,737 Unamortizable intangible assets: Goodwill $ 2,256,283 $ 253,536 $ 2,189,962 $ 253,536

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 2022
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Information Related to Asset Retirement Obligations	The following table reflects information related to our asset retirement obligations: Balance at December 31, 2021 $ 269,367 Additions to asset retirement obligations 4,593 Revision in estimates 3,524 Accretion expense 3,162 Liabilities settled (2,554) Balance at September 30, 2022 $ 278,092

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following at September 30, 2022 and December 31, 2021: September 30, 2022 Debt Deferred Debt, net of Senior Credit Facility $ 948,907 $ 8,851 $ 940,056 Accounts Receivable Securitization Program 200,000 651 199,349 3 3/4% Senior Notes 600,000 6,263 593,737 3 5/8% Senior Notes 550,000 7,167 542,833 4% Senior Notes 549,418 6,650 542,768 4 7/8% Senior Notes 400,000 4,563 395,437 Other notes with various rates and terms 2,105 — 2,105 3,250,430 34,145 3,216,285 Less current maturities (200,373) (651) (199,722) Long-term debt, excluding current maturities $ 3,050,057 $ 33,494 $ 3,016,563 December 31, 2021 Debt Deferred Debt, net of Senior Credit Facility $ 773,717 $ 9,306 $ 764,411 Accounts Receivable Securitization Program 175,000 585 174,415 3 3/4% Senior Notes 600,000 7,036 592,964 3 5/8% Senior Notes 550,000 7,711 542,289 4% Senior Notes 549,359 7,208 542,151 4 7/8% Senior Notes 400,000 5,013 394,987 Other notes with various rates and terms 2,378 — 2,378 3,050,454 36,859 3,013,595 Less current maturities (175,363) (585) (174,778) Long-term debt, excluding current maturities $ 2,875,091 $ 36,274 $ 2,838,817

Summarized Financial Informat_2

Summarized Financial Information of Subsidiaries (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES	9 Months Ended
	Sep. 30, 2022
Condensed Income Statements, Captions [Line Items]
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 September 30, 2022 Lamar Guarantor Non- Eliminations Lamar Media (unaudited) ASSETS Total current assets $ 68,868 $ 36,412 $ 299,241 $ — $ 404,521 Net property, plant and equipment — 1,383,688 15,546 — 1,399,234 Operating lease right of use assets — 1,215,315 20,886 — 1,236,201 Intangibles and goodwill, net — 3,103,512 16,973 — 3,120,485 Other assets 4,464,953 337,622 212,185 (4,913,425) 101,335 Total assets $ 4,533,821 $ 6,076,549 $ 564,831 $ (4,913,425) $ 6,261,776 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ — $ 373 $ 199,349 $ — $ 199,722 Current operating lease liabilities — 172,713 7,394 — 180,107 Other current liabilities 22,696 220,083 12,563 — 255,342 Total current liabilities 22,696 393,169 219,306 — 635,171 Long-term debt 3,014,831 1,732 — — 3,016,563 Operating lease liabilities — 996,306 11,682 — 1,007,988 Other noncurrent liabilities 230,094 301,228 332,061 (527,529) 335,854 Total liabilities 3,267,621 1,692,435 563,049 (527,529) 4,995,576 Stockholder's equity 1,266,200 4,384,114 1,782 (4,385,896) 1,266,200 Total liabilities and stockholder's equity $ 4,533,821 $ 6,076,549 $ 564,831 $ (4,913,425) $ 6,261,776 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, 2021 Lamar Media Guarantor Non- Eliminations Lamar Media ASSETS Total current assets $ 91,119 $ 29,379 $ 267,609 $ — $ 388,107 Net property, plant and equipment — 1,321,526 15,748 — 1,337,274 Operating lease right of use assets — 1,198,934 25,738 — 1,224,672 Intangibles and goodwill, net — 2,953,600 17,383 — 2,970,983 Other assets 4,188,436 311,046 187,044 (4,576,531) 109,995 Total assets $ 4,279,555 $ 5,814,485 $ 513,522 $ (4,576,531) $ 6,031,031 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ — $ 363 $ 174,415 $ — $ 174,778 Current operating lease liabilities — 190,748 7,538 — 198,286 Other current liabilities 22,009 246,030 14,142 — 282,181 Total current liabilities 22,009 437,141 196,095 — 655,245 Long-term debt 2,836,801 2,016 — — 2,838,817 Operating lease liabilities — 977,463 17,893 — 995,356 Other noncurrent liabilities 212,399 292,194 292,281 (463,607) 333,267 Total liabilities 3,071,209 1,708,814 506,269 (463,607) 4,822,685 Stockholder's equity 1,208,346 4,105,671 7,253 (4,112,924) 1,208,346 Total liabilities and stockholder's equity $ 4,279,555 $ 5,814,485 $ 513,522 $ (4,576,531) $ 6,031,031
Condensed Consolidating Statements of Income and Comprehensive Income	LAMAR MEDIA CORP. AND SUBSIDIARIES (Unaudited) (In Thousands, Except for Share Data) Condensed Consolidating Statements of Income and Comprehensive Income for the Three Months Ended September 30, 2022 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 515,993 $ 11,470 $ (73) $ 527,390 Operating expenses (income) Direct advertising expenses (1) — 161,629 7,412 (73) 168,968 General and administrative expenses (1) — 85,388 1,793 — 87,181 Corporate expenses (1) — 23,810 527 — 24,337 Depreciation and amortization — 65,032 801 — 65,833 Gain on disposition of assets — (53) — — (53) — 335,806 10,533 (73) 346,266 Operating income — 180,187 937 — 181,124 Equity in (earnings) loss of subsidiaries (178,405) — 178,405 — Interest expense (income), net 32,080 (32) 1,249 — 33,297 Equity in earnings of investee — (1,554) — — (1,554) Income (loss) before income tax expense 146,325 181,773 (312) (178,405) 149,381 Income tax expense (2) — 2,940 116 — 3,056 Net income (loss) $ 146,325 $ 178,833 $ (428) $ (178,405) $ 146,325 Statement of Comprehensive Income Net income (loss) $ 146,325 $ 178,833 $ (428) $ (178,405) $ 146,325 Total other comprehensive loss, net of tax — — (1,401) — (1,401) Total comprehensive income (loss) $ 146,325 $ 178,833 $ (1,829) $ (178,405) $ 144,924 (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 September 30, 2021 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income (unaudited) Net revenues $ — $ 466,222 $ 11,216 $ (544) $ 476,894 Operating expenses (income) Direct advertising expenses (1) — 140,641 7,213 (544) 147,310 General and administrative expenses (1) — 85,077 870 — 85,947 Corporate expenses (1) — 25,366 525 — 25,891 Depreciation and amortization — 82,577 1,723 — 84,300 Loss (gain) on disposition of assets — 115 (141) — (26) — 333,776 10,190 (544) 343,422 Operating income — 132,446 1,026 — 133,472 Equity in (earnings) loss of subsidiaries (132,727) — — 132,727 — Interest expense (income), net 25,753 (4) 178 — 25,927 Equity in earnings of investee — (1,141) — — (1,141) Income (loss) before income tax expense (benefit) 106,974 133,591 848 (132,727) 108,686 Income tax expense (benefit) (2) — 1,943 (231) — 1,712 Net income (loss) $ 106,974 $ 131,648 $ 1,079 $ (132,727) $ 106,974 Statement of Comprehensive Income Net income (loss) $ 106,974 $ 131,648 $ 1,079 $ (132,727) $ 106,974 Total other comprehensive loss, net of tax — — (588) — (588) Total comprehensive income (loss) $ 106,974 $ 131,648 $ 491 $ (132,727) $ 106,386 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense (benefit) 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 Nine Months Ended September 30, 2022 Lamar Media Guarantor Non- Eliminations Lamar Media Statement of Income (unaudited) Net revenues $ — $ 1,466,109 $ 30,776 $ (255) $ 1,496,630 Operating expenses (income) Direct advertising expenses (1) — 471,633 22,085 (255) 493,463 General and administrative expenses (1) — 255,546 5,377 — 260,923 Corporate expenses (1) — 71,499 2,195 — 73,694 Depreciation and amortization — 199,623 2,587 — 202,210 Gain on disposition of assets — (1,990) — — (1,990) — 996,311 32,244 (255) 1,028,300 Operating income (loss) — 469,798 (1,468) — 468,330 Equity in (earnings) loss of subsidiaries (459,799) — — 459,799 — Interest expense (income), net 86,872 (132) 2,342 — 89,082 Equity in earnings of investee — (2,655) — — (2,655) Income (loss) before income tax expense (benefit) 372,927 472,585 (3,810) (459,799) 381,903 Income tax expense (benefit) (2) — 9,085 (109) — 8,976 Net income (loss) $ 372,927 $ 463,500 $ (3,701) $ (459,799) $ 372,927 Statement of Comprehensive Income Net income (loss) $ 372,927 $ 463,500 $ (3,701) $ (459,799) $ 372,927 Total other comprehensive loss, net of tax — — (1,770) — (1,770) Total comprehensive income (loss) $ 372,927 $ 463,500 $ (5,471) $ (459,799) $ 371,157 (1) Caption is exclusive of depreciation and amortization. (2) The income tax expense (benefit) 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 Nine Months Ended September 30, 2021 Lamar Media Guarantor Non- Eliminations Lamar Media Statement of Income (unaudited) Net revenues $ — $ 1,266,818 $ 27,326 $ (1,317) $ 1,292,827 Operating expenses (income) Direct advertising expenses (1) — 402,260 18,030 (1,317) 418,973 General and administrative expenses (1) — 231,091 3,024 — 234,115 Corporate expenses (1) — 62,897 1,151 — 64,048 Depreciation and amortization — 202,660 3,011 — 205,671 Gain on disposition of assets — (1,774) (148) — (1,922) — 897,134 25,068 (1,317) 920,885 Operating income — 369,684 2,258 — 371,942 Equity in (earnings) loss of subsidiaries (366,556) — — 366,556 — Loss on extinguishment of debt 21,604 — — — 21,604 Interest expense (income), net 79,479 (30) 635 — 80,084 Equity in earnings of investee — (1,141) — — (1,141) Income (loss) before income tax expense 265,473 370,855 1,623 (366,556) 271,395 Income tax expense (2) — 5,826 96 — 5,922 Net income (loss) $ 265,473 $ 365,029 $ 1,527 $ (366,556) $ 265,473 Statement of Comprehensive Income Net income (loss) $ 265,473 $ 365,029 $ 1,527 $ (366,556) $ 265,473 Total other comprehensive loss, net of tax — — (84) — (84) Total comprehensive income (loss) $ 265,473 $ 365,029 $ 1,443 $ (366,556) $ 265,389 (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 Nine Months Ended September 30, 2022 Lamar Media Guarantor Non- Eliminations Lamar Media (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 391,078 $ 611,985 $ (30,726) $ (472,917) $ 499,420 Cash flows from investing activities: Acquisitions — (287,860) — — (287,860) Capital expenditures — (113,736) (3,072) — (116,808) Proceeds from disposition of assets and investments — 2,146 — — 2,146 Decrease in notes receivable — 58 — — 58 Investment in subsidiaries (287,860) — — 287,860 — Decrease (increase) in intercompany notes receivable 14,158 — — (14,158) — Net cash (used in) provided by investing activities (273,702) (399,392) (3,072) 273,702 (402,464) Cash flows from financing activities: Proceeds received from revolving credit facility 400,000 — — — 400,000 Payment on revolving credit facility (575,000) — — — (575,000) Principal payments on long-term debt — (273) — — (273) Principal payments on financing leases — (998) — — (998) Proceeds received from senior credit facility term loans 350,000 — — — 350,000 Payment on accounts receivable securitization program — — (115,000) — (115,000) Proceeds received from accounts receivable securitization program — — 140,000 — 140,000 Debt issuance costs (1,328) — (236) — (1,564) Intercompany loan (payments) proceeds — (28,204) 14,046 14,158 — Distributions to non-controlling interest — — (1,019) — (1,019) Dividends (to) from parent (366,015) (472,917) — 472,917 (366,015) Contributions from (to) parent 52,712 287,860 — (287,860) 52,712 Net cash (used in) provided by financing activities (139,631) (214,532) 37,791 199,215 (117,157) Effect of exchange rate changes in cash and cash equivalents — — (232) — (232) Net (decrease) increase in cash and cash equivalents (22,255) (1,939) 3,761 — (20,433) Cash and cash equivalents at beginning of period 91,023 3,494 4,771 — 99,288 Cash and cash equivalents at end of period $ 68,768 $ 1,555 $ 8,532 $ — $ 78,855 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 Nine Months Ended September 30, 2021 Lamar Media Guarantor Non- Eliminations Lamar Media (unaudited) Cash flows from operating activities: Net cash provided by (used in) operating activities $ 380,225 $ 584,251 $ (26,729) $ (467,049) $ 470,698 Cash flows from investing activities: Acquisitions — (107,593) — — (107,593) Capital expenditures — (67,767) (3,746) — (71,513) Payment for investments in equity securities — (30,000) — — (30,000) Proceeds from disposition of assets and investments — 5,761 — — 5,761 Investment in subsidiaries (107,593) — — 107,593 — Decrease (increase) in intercompany notes receivable 53,515 — — (53,515) — Decrease in notes receivable — 107 — — 107 Net cash (used in) provided by investing activities (54,078) (199,492) (3,746) 54,078 (203,238) Cash flows from financing activities: Proceeds received from revolving credit facility 25,000 — — — 25,000 Payment on revolving credit facility (25,000) — — — (25,000) Principal payments on long-term debt — (282) — — (282) Principal payments on financing leases — (998) — — (998) Proceeds received from note offering 550,000 — — — 550,000 Payment on accounts receivable securitization program — — (67,500) — (67,500) Proceeds received from accounts receivable securitization program — — 120,000 — 120,000 Redemption of senior notes (668,688) — — — (668,688) Debt issuance costs (8,224) — (438) — (8,662) Intercompany loan (payments) proceeds — (24,119) (29,396) 53,515 — Distributions to non-controlling interest — — (82) — (82) Dividends (to) from parent (258,703) (467,049) — 467,049 (258,703) Contributions from (to) parent 33,312 107,593 — (107,593) 33,312 Net cash (used in) provided by financing activities (352,303) (384,855) 22,584 412,971 (301,603) Effect of exchange rate changes in cash and cash equivalents — — 143 — 143 Net decrease in cash and cash equivalents (26,156) (96) (7,748) — (34,000) Cash and cash equivalents at beginning of period 110,588 1,732 8,749 — 121,069 Cash and cash equivalents at end of period $ 84,432 $ 1,636 $ 1,001 $ — $ 87,069

Revenues - Disaggregation Reven

Revenues - Disaggregation Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net revenues	$ 527,390	$ 476,894	$ 1,496,630	$ 1,292,827
Billboard advertising
Disaggregation of Revenue [Line Items]
Net revenues	471,450	430,103	1,337,015	1,169,426
Logo advertising
Disaggregation of Revenue [Line Items]
Net revenues	19,632	19,720	60,137	58,820
Transit advertising
Disaggregation of Revenue [Line Items]
Net revenues	$ 36,308	$ 27,071	$ 99,478	$ 64,581

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Operating lease, cost	$ 74,927	$ 72,789	$ 227,129	$ 218,139
Variable lease, cost	17,910	22,514	45,785	56,507
Gain on disposition of assets	(53)	(26)	(1,990)	(1,922)
Operating lease, cash payments			255,436	243,690
Direct advertising expenses (exclusive of depreciation and amortization)	$ 168,968	147,310	$ 493,463	418,973
Operating lease, weighted average remaining lease term	12 years 3 months 18 days		12 years 3 months 18 days
Operating lease, weighted average discount rate	4.60%		4.60%
Leased assets obtained in exchange for operating lease liability			$ 37,518	25,401
Amortization expense	$ 713	713	2,140	2,140
Interest expense	$ 135	145	412	443
Principal payments on financing leases			$ 998	998
Weighted-average remaining lease term	5 years 2 months 12 days		5 years 2 months 12 days
Weighted-average discount rate	3.10%		3.10%
Non-lease transit payments	$ 22,019	8,625	$ 63,538	19,213
Advertising
Lessee, Lease, Description [Line Items]
Direct advertising expenses (exclusive of depreciation and amortization)	1,943	1,579	5,494	4,471
Termination of Lease Agreements
Lessee, Lease, Description [Line Items]
Gain on disposition of assets	$ (106)	$ 349	$ (576)	$ 296

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Sep. 30, 2022 USD ($)
Leases [Abstract]
2022	$ 38,728
2023	214,565
2024	182,568
2025	155,303
2026	130,949
Thereafter	868,615
Total undiscounted operating lease payments	1,590,728
Less: Imputed interest	(402,633)
Total operating lease liabilities	$ 1,188,095

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) $ in Thousands		9 Months Ended
	May 04, 2022 USD ($)	Sep. 30, 2022 USD ($) advertising_asset	Dec. 31, 2021 USD ($)
Asset Acquisition [Line Items]
Number of assets acquired | advertising_asset		50
Goodwill		$ 2,002,747	$ 1,936,426
2022 Acquisitions
Asset Acquisition [Line Items]
Business combination, consideration transferred	$ 130,000	287,860
Total acquired intangible assets		246,941
Goodwill	66,514	66,514
Business acquisition, goodwill, expected tax deductible amount		$ 456
Acquired finite-lived intangible assets, weighted average useful life		14 years
Amortization of acquired intangible asset		$ 9,234
2022 Acquisitions | Customer lists and contracts
Asset Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life		7 years
Finite-lived intangible assets acquired	21,646	$ 21,646
2022 Acquisitions | Site locations
Asset Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life		15 years
Finite-lived intangible assets acquired	$ 156,154	$ 156,154

Acquisitions - Schedule of Reco

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2022	May 04, 2022	Dec. 31, 2021
Asset Acquisition [Line Items]
Goodwill	$ 2,002,747		$ 1,936,426
2022 Acquisitions
Asset Acquisition [Line Items]
Property, plant and equipment		$ 41,876
Goodwill	66,514	66,514
Asset acquisition costs		604
Current assets		1,857
Current liabilities		(6,367)
Operating lease right of use assets		32,184
Operating lease liabilities		(28,631)
Business combination, recognized identifiable assets acquired, goodwill, and liabilities assumed, net, total		287,860
2022 Acquisitions | Site locations
Asset Acquisition [Line Items]
Finite-lived intangible assets	156,154	156,154
2022 Acquisitions | Non-competition agreements
Asset Acquisition [Line Items]
Finite-lived intangible assets		2,023
2022 Acquisitions | Customer lists and contracts
Asset Acquisition [Line Items]
Finite-lived intangible assets	$ 21,646	$ 21,646

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Financial Information (Details) - 2022 Acquisitions - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Business Acquisition [Line Items]
Net revenues	$ 527,648	$ 496,342	$ 1,506,087	$ 1,346,542
Net income applicable to common stock	$ 146,155	$ 111,907	$ 370,122	$ 265,214
Net income per common share- basic (in usd per share)	$ 1.44	$ 1.11	$ 3.65	$ 2.62
Net income per common share- diluted (in usd per share)	$ 1.44	$ 1.10	$ 3.64	$ 2.62

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jul. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	1,963,413		1,963,413
Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common units issued (shares)					88,000
Class A CMN Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)			151,500
1996 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance to directors and employees (in shares)	17,500,000		17,500,000
1996 Equity Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of awards of target number of share			0%
1996 Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of awards of target number of share			100%
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration date of options granted under equity incentive plan			10 years
Options | Percentage of awards vesting on grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards vesting			20%
Options | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards vesting			20%
Options | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards vesting			20%
Options | Share-based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards vesting			20%
Options | Share-based Payment Arrangement, Tranche Five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards vesting			20%
Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			5 years
Performance Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements	$ 3,830	$ 11,521	$ 9,789	$ 18,379
Restricted Stock | Non-employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements	$ 73	$ 70	$ 502	$ 544
Restricted Stock | Percentage of awards vesting on grant date | Non-employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of awards vesting			50%
Restricted Stock | Share-based Payment Arrangement, Tranche Two | Non-employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Percentage of awards vesting			50%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of ESPP Share Activity (Detail)	9 Months Ended
	Sep. 30, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Available for future purchases, ending balance (in shares)	1,963,413
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Available for future purchases, beginning balance (in shares)	342,226
Purchases (in shares)	(103,535)
Available for future purchases, ending balance (in shares)	325,544
Employee Stock Purchase Plan | 2019 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Additional shares reserved (in shares)	86,853

Depreciation and Amortization -

Depreciation and Amortization - Depreciation and Amortization Expense Excluded from Operating Expenses in its Condensed Consolidated Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 65,833	$ 84,300	$ 202,210	$ 205,671
Direct advertising expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	60,842	80,068	187,992	192,816
General and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	1,538	1,068	3,984	3,338
Corporate expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 3,453	$ 3,164	$ 10,234	$ 9,517

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,596,007	$ 3,416,914
Accumulated Amortization	2,467,649	2,371,737
Goodwill, Gross Carrying Amount	2,256,283	2,189,962
Goodwill, Accumulated Amortization	253,536	253,536
Customer lists and contracts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	698,330	676,846
Accumulated Amortization	$ 607,675	587,056
Customer lists and contracts | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Life (Years)	7 years
Customer lists and contracts | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Life (Years)	10 years
Non-competition agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 71,293	69,276
Accumulated Amortization	$ 65,449	64,941
Non-competition agreements | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Life (Years)	3 years
Non-competition agreements | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Site locations
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 2,774,518	2,619,531
Accumulated Amortization	$ 1,754,384	1,680,333
Site locations | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 51,866	51,261
Accumulated Amortization	$ 40,141	$ 39,407
Other | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Life (Years)	2 years
Other | Maximum
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	9 Months Ended
	Sep. 30, 2022 USD ($)
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 269,367
Additions to asset retirement obligations	4,593
Revision in estimates	3,524
Accretion expense	3,162
Liabilities settled	(2,554)
Ending balance	$ 278,092

Distribution Restrictions (Deta

Distribution Restrictions (Detail) $ in Thousands	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Balance of permitted transfers to parent company	$ 4,134,731	$ 3,921,979
Debt ratio	7
Debt ratio related to actual position on senior credit facility	7
Available cumulative credit	$ 2,885,210
Secured Debt | Maximum
Debt Instrument [Line Items]
Secured debt ratio	4.5
Secured Debt | Maximum | LAMAR MEDIA CORP
Debt Instrument [Line Items]
Secured debt ratio	4.5

Earnings Per Share (Detail)

Earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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 (in shares)	0	0	0	0

Long-term Debt - Long-Term Debt

Long-term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Aug. 19, 2020	Feb. 06, 2020
Debt Instrument [Line Items]
Debt	$ 3,250,430	$ 3,050,454
Debt, less current maturities	(200,373)	(175,363)
Debt, excluding current maturities	3,050,057	2,875,091
Deferred financing costs	34,145	36,859
Deferred financing costs, less current maturities	(651)	(585)
Deferred financing costs, excluding current maturities	33,494	36,274
Debt, net of deferred financing costs	3,216,285	3,013,595
Debt, net of deferred financing costs, less current maturities	(199,722)	(174,778)
Debt, net of deferred financing costs, excluding current maturities	3,016,563	2,838,817
Senior Credit Facility
Debt Instrument [Line Items]
Debt	948,907	773,717
Deferred financing costs	8,851	9,306
Debt, net of deferred financing costs	940,056	764,411
Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Debt	200,000	175,000
Deferred financing costs	651	585
Debt, net of deferred financing costs	199,349	174,415
3 3/4% Senior  Notes
Debt Instrument [Line Items]
Debt	600,000	600,000
Deferred financing costs	6,263	7,036
Debt, net of deferred financing costs	$ 593,737	$ 592,964
Stated percentage	3.75%	3.75%		3.75%
3 5/8% Senior Notes
Debt Instrument [Line Items]
Debt	$ 550,000	$ 550,000
Deferred financing costs	7,167	7,711
Debt, net of deferred financing costs	$ 542,833	$ 542,289
Stated percentage	3.625%	3.625%
4% Senior Notes
Debt Instrument [Line Items]
Debt	$ 549,418	$ 549,359
Deferred financing costs	6,650	7,208
Debt, net of deferred financing costs	$ 542,768	$ 542,151
Stated percentage	4%	4%	4%	4%
4 7/8% Senior Notes
Debt Instrument [Line Items]
Debt	$ 400,000	$ 400,000
Deferred financing costs	4,563	5,013
Debt, net of deferred financing costs	$ 395,437	$ 394,987
Stated percentage	4.875%	4.875%
Other notes with various rates and terms
Debt Instrument [Line Items]
Debt	$ 2,105	$ 2,378
Deferred financing costs	0	0
Debt, net of deferred financing costs	$ 2,105	$ 2,378

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail) - USD ($)									3 Months Ended		9 Months Ended
	Jul. 29, 2022	Feb. 03, 2021	Jan. 22, 2021	Aug. 19, 2020	May 13, 2020	Feb. 06, 2020	Feb. 01, 2019	Jan. 28, 2016	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 24, 2022	Dec. 31, 2021	Mar. 16, 2020	Dec. 18, 2018
Debt Instrument [Line Items]
Proceeds received from term B loans											$ 350,000,000	$ 0
Outstanding revolving credit facility									$ 0		0
Aggregate principal amount of debt issued									3,250,430,000		3,250,430,000
Debt instrument outstanding amount									3,250,430,000		3,250,430,000			$ 3,050,454,000
Loss on extinguishment of debt									0	$ 0	0	21,604,000
LAMAR MEDIA CORP. AND SUBSIDIARIES
Debt Instrument [Line Items]
Proceeds received from term B loans											350,000,000	0
Loss on extinguishment of debt									0	$ 0	0	21,604,000
Letter of Credit
Debt Instrument [Line Items]
Letter of credit outstanding balance									$ 11,313,000		$ 11,313,000
4% Senior Notes
Debt Instrument [Line Items]
Stated percentage				4%		4%			4%		4%			4%
Debt instrument outstanding amount									$ 549,418,000		$ 549,418,000			$ 549,359,000
Redemption period						120 days
Redemption price percentage of the principal amount to be purchased						101%
4% Senior Notes | Redemption Period One
Debt Instrument [Line Items]
Redemption percentage of aggregate principal amount of senior notes						40%
Redeemed percentage of aggregate principal amount						104%
Redemption percentage of issued notes which remain outstanding						60%
4% Senior Notes | Redemption Period Two
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount						100%
4% Senior Notes | Private Placement
Debt Instrument [Line Items]
Stated percentage				4%		4%
Aggregate principal amount of debt issued				$ 150,000,000		$ 400,000,000
Net proceeds form the issuance of debt				$ 146,900,000		$ 395,000,000
Accounts Receivable Securitization Program
Debt Instrument [Line Items]
Aggregate principal amount of debt issued													$ 250,000,000			$ 175,000,000
Debt instrument outstanding amount									200,000,000		200,000,000			$ 175,000,000
Accounts Receivable Securitization Program | LAMAR MEDIA CORP. AND SUBSIDIARIES
Debt Instrument [Line Items]
Available borrowing on accounts receivable securitization									$ 39,200,000		$ 39,200,000
5 3/4% Senior Notes
Debt Instrument [Line Items]
Stated percentage								5.75%
Aggregate principal amount of debt issued								$ 400,000,000
Net proceeds form the issuance of debt								$ 394,500,000
Principal amount redeemed		$ 650,000,000
Percentage of principal amount redeemed		102.875%
Loss on extinguishment of debt												21,604,000
Loss on debt extinguishment on cash												$ 18,700,000
5 3/4% Senior Notes | Private Placement
Debt Instrument [Line Items]
Aggregate principal amount of debt issued							$ 250,000,000
Net proceeds form the issuance of debt							$ 251,500,000
3 3/4% Senior  Notes
Debt Instrument [Line Items]
Stated percentage						3.75%			3.75%		3.75%			3.75%
Debt instrument outstanding amount									$ 600,000,000		$ 600,000,000			$ 600,000,000
Redemption percentage of aggregate principal amount of senior notes						40%
Redeemed percentage of aggregate principal amount						103.75%
Redemption percentage of issued notes which remain outstanding						60%
3 3/4% Senior  Notes | Redemption Period One
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount						100%
Redemption price percentage of the principal amount to be purchased						101%
3 3/4% Senior  Notes | Private Placement
Debt Instrument [Line Items]
Aggregate principal amount of debt issued						$ 600,000,000
Net proceeds form the issuance of debt						$ 592,500,000
Redemption period						120 days
4 7/8% Senior Notes
Debt Instrument [Line Items]
Stated percentage									4.875%		4.875%			4.875%
Debt instrument outstanding amount									$ 400,000,000		$ 400,000,000			$ 400,000,000
Redemption percentage of aggregate principal amount of senior notes					40%
Redeemed percentage of aggregate principal amount					104.875%
Redemption percentage of issued notes which remain outstanding					60%
4 7/8% Senior Notes | Redemption Period One
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount					100%
Redemption price percentage of the principal amount to be purchased					101%
4 7/8% Senior Notes | Private Placement
Debt Instrument [Line Items]
Stated percentage					4.875%
Aggregate principal amount of debt issued					$ 400,000,000
Net proceeds form the issuance of debt					$ 395,000,000
Redemption period					120 days
3 5/8% Senior Notes
Debt Instrument [Line Items]
Stated percentage									3.625%		3.625%			3.625%
Debt instrument outstanding amount									$ 550,000,000		$ 550,000,000			$ 550,000,000
Redemption percentage of aggregate principal amount of senior notes			40%
Redeemed percentage of aggregate principal amount			103.625%
Redemption percentage of issued notes which remain outstanding			60%
Redemption period			120 days
Redemption price percentage of the principal amount to be purchased			101%
3 5/8% Senior Notes | Redemption Period One
Debt Instrument [Line Items]
Redeemed percentage of aggregate principal amount			100%
3 5/8% Senior Notes | Private Placement
Debt Instrument [Line Items]
Proceeds received from term B loans			$ 542,500,000
Stated percentage			3.625%
Aggregate principal amount of debt issued			$ 550,000,000
Senior or Senior Subordinated Notes and other Indebtedness | Debt Instrument Repurchase Program
Debt Instrument [Line Items]
Debt repurchase program, authorized amount															$ 250,000,000
Debt instrument repurchased under the program									0		0
Senior Credit Facility
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility						$ 750,000,000
Term B Loan Facility
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility						600,000,000
Proceeds received from term B loans						$ 600,000,000
Term B Loan Facility | LIBO Rate
Debt Instrument [Line Items]
Adjusted base rate						1.50%
Term B Loan Facility | Base Rate
Debt Instrument [Line Items]
Adjusted base rate						0.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity under revolving credit facility									$ 738,687,000		$ 738,687,000
Revolving Credit Facility | LIBO Rate
Debt Instrument [Line Items]
Secured debt ratio						3.25
Adjusted base rate						1.50%
Ratio of indebtedness to net capital minimum						1
Revolving Credit Facility | LIBO Rate | Debt Ratio Less Than Three Point Two Five
Debt Instrument [Line Items]
Adjusted base rate						1.25%
Revolving Credit Facility | Base Rate
Debt Instrument [Line Items]
Secured debt ratio						3.25
Adjusted base rate						0.50%
Ratio of indebtedness to net capital minimum						1
Revolving Credit Facility | Base Rate | Debt Ratio Less Than Three Point Two Five
Debt Instrument [Line Items]
Adjusted base rate						0.25%
Revolving Credit Facility | Secured Debt
Debt Instrument [Line Items]
Secured debt ratio						4.50
Term A Loan Facility
Debt Instrument [Line Items]
Maximum borrowing limit of incremental loan facility	$ 350,000,000
Variable rate spread adjustment	0.0010
Term A Loan Facility | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Adjusted base rate	1.25%

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Estimated fair value of long-term debt (including current maturities)	$ 2,874,199
Gross amount of company's long term debt	$ 3,250,430

Investments (Details)

Investments (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 12, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule of Equity Method Investments [Line Items]
Equity in earnings of investee		$ 1,554	$ 1,141	$ 2,655	$ 1,141
Vistar Media
Schedule of Equity Method Investments [Line Items]
Payment for investments in equity securities	$ 30,000
Minority interest	20%
Equity in earnings of investee		$ 1,554	$ 1,141	$ 2,593	$ 1,141

Dividends_Distributions (Detail

Dividends/Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Distributions paid	$ 122,100	$ 101,225	$ 355,510	$ 252,917
Dividends declared	$ 122,100	$ 101,225	$ 355,510	$ 252,917
Cash dividends declared per share of common stock (in dollars per share)	$ 1.20	$ 1	$ 3.50	$ 2.50
Dividends paid (in dollars per share)	$ 1.20	$ 1	$ 3.50	$ 2.50
Dividends paid	$ 91	$ 273	$ 91	$ 273
Distributions paid, preferred stockholders, per share (in dollars per share)	$ 15.95	$ 47.85	$ 15.95	$ 47.85

Information about Geographic _2

Information about Geographic Areas (Details) - Foreign Countries - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net carrying value of long lived assets	$ 11,277		$ 11,318
External Customers
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from external customers	$ 21,721	$ 17,568

Stockholders' Equity (Detail)

Stockholders' Equity (Detail) - Class A CMN Stock - USD ($)	9 Months Ended	36 Months Ended
	Sep. 30, 2022	May 01, 2021	Jun. 21, 2021	Mar. 16, 2020	May 01, 2018
Stock Repurchase Program
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 250,000,000
Stock repurchased during period	$ 0
Sales Agreement
Class of Stock [Line Items]
Common stock, shares sold (in shares)		842,412
2021 Sales Agreement
Class of Stock [Line Items]
Common stock, shares sold (in shares)	0
Common stock, shares available to be sold	$ 400,000,000
Maximum | Sales Agreement
Class of Stock [Line Items]
Aggregate offering price of common stock issuable					$ 400,000,000
Maximum | 2021 Sales Agreement
Class of Stock [Line Items]
Aggregate offering price of common stock issuable			$ 400,000

Condensed Consolidating Balance

Condensed Consolidating Balance Sheets (Unaudited) (Detail) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Total current assets	$ 405,021			$ 388,607
Net property, plant and equipment	1,399,234			1,337,274
Operating lease right of use assets	1,236,201			1,224,672
Other assets	92,207			98,448
Total assets	6,278,519			6,047,494
Current liabilities:
Current maturities of long-term debt	199,722			174,778
Current operating lease liabilities	180,107			198,286
Total current liabilities	643,829			662,965
Long-term debt	3,016,563			2,838,817
Operating lease liabilities	1,007,988			995,356
Total liabilities	5,004,234			4,830,405
Stockholder's equity	1,274,285	$ 1,240,066	$ 1,223,861	1,217,089	$ 1,241,796	$ 1,231,605	$ 1,181,507	$ 1,202,768
Total liabilities and stockholders’ equity	6,278,519			6,047,494
LAMAR MEDIA CORP. AND SUBSIDIARIES
ASSETS
Total current assets	404,521			388,107
Net property, plant and equipment	1,399,234			1,337,274
Operating lease right of use assets	1,236,201			1,224,672
Intangible assets, net	3,120,485			2,970,983
Other assets	101,335			109,995
Total assets	6,261,776			6,031,031
Current liabilities:
Current maturities of long-term debt	199,722			174,778
Current operating lease liabilities	180,107			198,286
Other current liabilities	255,342			282,181
Total current liabilities	635,171			655,245
Long-term debt	3,016,563			2,838,817
Operating lease liabilities	1,007,988			995,356
Other noncurrent liabilities	335,854			333,267
Total liabilities	4,995,576			4,822,685
Stockholder's equity	1,266,200			1,208,346
Total liabilities and stockholders’ equity	6,261,776			6,031,031
Eliminations | LAMAR MEDIA CORP. AND SUBSIDIARIES
ASSETS
Total current assets	0			0
Net property, plant and equipment	0			0
Operating lease right of use assets	0			0
Intangible assets, net	0			0
Other assets	(4,913,425)			(4,576,531)
Total assets	(4,913,425)			(4,576,531)
Current liabilities:
Current maturities of long-term debt	0			0
Current operating lease liabilities	0			0
Other current liabilities	0			0
Total current liabilities	0			0
Long-term debt	0			0
Operating lease liabilities	0			0
Other noncurrent liabilities	(527,529)			(463,607)
Total liabilities	(527,529)			(463,607)
Stockholder's equity	(4,385,896)			(4,112,924)
Total liabilities and stockholders’ equity	(4,913,425)			(4,576,531)
Lamar Media Corp. | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
ASSETS
Total current assets	68,868			91,119
Net property, plant and equipment	0			0
Operating lease right of use assets	0			0
Intangible assets, net	0			0
Other assets	4,464,953			4,188,436
Total assets	4,533,821			4,279,555
Current liabilities:
Current maturities of long-term debt	0			0
Current operating lease liabilities	0			0
Other current liabilities	22,696			22,009
Total current liabilities	22,696			22,009
Long-term debt	3,014,831			2,836,801
Operating lease liabilities	0			0
Other noncurrent liabilities	230,094			212,399
Total liabilities	3,267,621			3,071,209
Stockholder's equity	1,266,200			1,208,346
Total liabilities and stockholders’ equity	4,533,821			4,279,555
Guarantor Subsidiaries | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
ASSETS
Total current assets	36,412			29,379
Net property, plant and equipment	1,383,688			1,321,526
Operating lease right of use assets	1,215,315			1,198,934
Intangible assets, net	3,103,512			2,953,600
Other assets	337,622			311,046
Total assets	6,076,549			5,814,485
Current liabilities:
Current maturities of long-term debt	373			363
Current operating lease liabilities	172,713			190,748
Other current liabilities	220,083			246,030
Total current liabilities	393,169			437,141
Long-term debt	1,732			2,016
Operating lease liabilities	996,306			977,463
Other noncurrent liabilities	301,228			292,194
Total liabilities	1,692,435			1,708,814
Stockholder's equity	4,384,114			4,105,671
Total liabilities and stockholders’ equity	6,076,549			5,814,485
Non- Guarantor Subsidiaries | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
ASSETS
Total current assets	299,241			267,609
Net property, plant and equipment	15,546			15,748
Operating lease right of use assets	20,886			25,738
Intangible assets, net	16,973			17,383
Other assets	212,185			187,044
Total assets	564,831			513,522
Current liabilities:
Current maturities of long-term debt	199,349			174,415
Current operating lease liabilities	7,394			7,538
Other current liabilities	12,563			14,142
Total current liabilities	219,306			196,095
Long-term debt	0			0
Operating lease liabilities	11,682			17,893
Other noncurrent liabilities	332,061			292,281
Total liabilities	563,049			506,269
Stockholder's equity	1,782			7,253
Total liabilities and stockholders’ equity	$ 564,831			$ 513,522

Condensed Consolidating Stateme

Condensed Consolidating Statements of Income and Comprehensive Income (Unaudited) (Detail) - USD ($) $ in Thousands	3 Months Ended								9 Months Ended
	Sep. 30, 2022		Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021		Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022		Sep. 30, 2021
Statements of Income
Net revenues	$ 527,390				$ 476,894				$ 1,496,630		$ 1,292,827
Operating expenses (income)
Direct advertising expenses	168,968				147,310				493,463		418,973
General and administrative expenses	87,181				85,946				260,923		234,429
Corporate expenses	24,474				26,028				74,077		64,431
Depreciation and amortization	65,833				84,300				202,210		205,671
Gain on disposition of assets	(53)				(26)				(1,990)		(1,922)
Total operating expenses	346,403				343,558				1,028,683		921,582
Operating income	180,987				133,336				467,947		371,245
Loss on extinguishment of debt	0				0				0		21,604
Equity in earnings of investee	(1,554)				(1,141)				(2,655)		(1,141)
Income before income tax expense	149,244				108,550				381,520		270,698
Income tax expense	3,056				1,712				8,976		5,922
Net income	146,188		$ 134,205	$ 92,151	106,838		$ 119,609	$ 38,329	372,544		264,776
Statements of Comprehensive Income
Net income	146,188		$ 134,205	$ 92,151	106,838		$ 119,609	$ 38,329	372,544		264,776
Comprehensive income	144,787				106,250				370,774		264,692
LAMAR MEDIA CORP. AND SUBSIDIARIES
Statements of Income
Net revenues	527,390				476,894				1,496,630		1,292,827
Operating expenses (income)
Direct advertising expenses	168,968	[1]			147,310	[2]			493,463	[3]	418,973	[4]
General and administrative expenses	87,181	[1]			85,947	[2]			260,923	[3]	234,115	[4]
Corporate expenses	24,337	[1]			25,891	[2]			73,694	[3]	64,048	[4]
Depreciation and amortization	65,833				84,300				202,210		205,671
Gain on disposition of assets	(53)				(26)				(1,990)		(1,922)
Total operating expenses	346,266				343,422				1,028,300		920,885
Operating income	181,124				133,472				468,330		371,942
Equity in (earnings) loss of subsidiaries	0				0				0		0
Loss on extinguishment of debt											21,604
Interest expense (income), net	33,297				25,927				89,082		80,084
Equity in earnings of investee	(1,554)				(1,141)				(2,655)		(1,141)
Income before income tax expense	149,381				108,686				381,903		271,395
Income tax expense	3,056	[5]			1,712	[6]			8,976	[7]	5,922	[8]
Net income	146,325				106,974				372,927		265,473
Statements of Comprehensive Income
Net income	146,325				106,974				372,927		265,473
Total other comprehensive loss, net of tax	(1,401)				(588)				(1,770)		(84)
Comprehensive income	144,924				106,386				371,157		265,389
Eliminations | LAMAR MEDIA CORP. AND SUBSIDIARIES
Statements of Income
Net revenues	(73)				(544)				(255)		(1,317)
Operating expenses (income)
Direct advertising expenses	(73)	[1]			(544)	[2]			(255)	[3]	(1,317)	[4]
General and administrative expenses	0	[1]			0	[2]			0	[3]	0	[4]
Corporate expenses	0	[1]			0	[2]			0	[3]	0	[4]
Depreciation and amortization	0				0				0		0
Gain on disposition of assets	0				0				0		0
Total operating expenses	(73)				(544)				(255)		(1,317)
Operating income	0				0				0		0
Equity in (earnings) loss of subsidiaries	178,405				132,727				459,799		366,556
Loss on extinguishment of debt											0
Interest expense (income), net	0				0				0		0
Equity in earnings of investee	0				0				0		0
Income before income tax expense	(178,405)				(132,727)				(459,799)		(366,556)
Income tax expense	0	[5]			0	[6]			0	[7]	0	[8]
Net income	(178,405)				(132,727)				(459,799)		(366,556)
Statements of Comprehensive Income
Net income	(178,405)				(132,727)				(459,799)		(366,556)
Total other comprehensive loss, net of tax	0				0				0		0
Comprehensive income	(178,405)				(132,727)				(459,799)		(366,556)
Lamar Media Corp. | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
Statements of Income
Net revenues	0				0				0		0
Operating expenses (income)
Direct advertising expenses	0	[1]			0	[2]			0	[3]	0	[4]
General and administrative expenses	0	[1]			0	[2]			0	[3]	0	[4]
Corporate expenses	0	[1]			0	[2]			0	[3]	0	[4]
Depreciation and amortization	0				0				0		0
Gain on disposition of assets	0				0				0		0
Total operating expenses	0				0				0		0
Operating income	0				0				0		0
Equity in (earnings) loss of subsidiaries	(178,405)				(132,727)				(459,799)		(366,556)
Loss on extinguishment of debt											21,604
Interest expense (income), net	32,080				25,753				86,872		79,479
Equity in earnings of investee	0				0				0		0
Income before income tax expense	146,325				106,974				372,927		265,473
Income tax expense	0	[5]			0	[6]			0	[7]	0	[8]
Net income	146,325				106,974				372,927		265,473
Statements of Comprehensive Income
Net income	146,325				106,974				372,927		265,473
Total other comprehensive loss, net of tax	0				0				0		0
Comprehensive income	146,325				106,974				372,927		265,473
Guarantor Subsidiaries | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
Statements of Income
Net revenues	515,993				466,222				1,466,109		1,266,818
Operating expenses (income)
Direct advertising expenses	161,629	[1]			140,641	[2]			471,633	[3]	402,260	[4]
General and administrative expenses	85,388	[1]			85,077	[2]			255,546	[3]	231,091	[4]
Corporate expenses	23,810	[1]			25,366	[2]			71,499	[3]	62,897	[4]
Depreciation and amortization	65,032				82,577				199,623		202,660
Gain on disposition of assets	(53)				115				(1,990)		(1,774)
Total operating expenses	335,806				333,776				996,311		897,134
Operating income	180,187				132,446				469,798		369,684
Equity in (earnings) loss of subsidiaries	0				0				0		0
Loss on extinguishment of debt											0
Interest expense (income), net	(32)				(4)				(132)		(30)
Equity in earnings of investee	(1,554)				(1,141)				(2,655)		(1,141)
Income before income tax expense	181,773				133,591				472,585		370,855
Income tax expense	2,940	[5]			1,943	[6]			9,085	[7]	5,826	[8]
Net income	178,833				131,648				463,500		365,029
Statements of Comprehensive Income
Net income	178,833				131,648				463,500		365,029
Total other comprehensive loss, net of tax	0				0				0		0
Comprehensive income	178,833				131,648				463,500		365,029
Non- Guarantor Subsidiaries | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
Statements of Income
Net revenues	11,470				11,216				30,776		27,326
Operating expenses (income)
Direct advertising expenses	7,412	[1]			7,213	[2]			22,085	[3]	18,030	[4]
General and administrative expenses	1,793	[1]			870	[2]			5,377	[3]	3,024	[4]
Corporate expenses	527	[1]			525	[2]			2,195	[3]	1,151	[4]
Depreciation and amortization	801				1,723				2,587		3,011
Gain on disposition of assets	0				(141)				0		(148)
Total operating expenses	10,533				10,190				32,244		25,068
Operating income	937				1,026				(1,468)		2,258
Equity in (earnings) loss of subsidiaries					0				0		0
Loss on extinguishment of debt											0
Interest expense (income), net	1,249				178				2,342		635
Equity in earnings of investee	0				0				0		0
Income before income tax expense	(312)				848				(3,810)		1,623
Income tax expense	116	[5]			(231)	[6]			(109)	[7]	96	[8]
Net income	(428)				1,079				(3,701)		1,527
Statements of Comprehensive Income
Net income	(428)				1,079				(3,701)		1,527
Total other comprehensive loss, net of tax	(1,401)				(588)				(1,770)		(84)
Comprehensive income	$ (1,829)				$ 491				$ (5,471)		$ 1,443
[1]Caption is exclusive of depreciation and amortization[2]Caption is exclusive of depreciation and amortization.[3]Caption is exclusive of depreciation and amortization.[4]Caption is exclusive of depreciation and amortization.[5]The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.[6]The income tax expense (benefit) reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.[7]The income tax expense (benefit) reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.[8]The income tax expense reflected in each column does not include any tax effect of the equity in earnings from subsidiaries.

Condensed Consolidating State_2

Condensed Consolidating Statement of Cash Flows (Unaudited) (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 537,105	$ 488,234
Cash flows from investing activities:
Acquisitions	(287,860)	(107,593)
Capital expenditures	(116,808)	(71,513)
Payment for investments in equity securities	0	(30,000)
Proceeds from disposition of assets and investments	2,146	5,761
Decrease in notes receivable	58	107
Net cash (used in) provided by investing activities	(402,464)	(203,238)
Cash flows from financing activities:
Proceeds received from revolving credit facility	400,000	25,000
Payments on revolving credit facility	(575,000)	(25,000)
Principal payments on long-term debt	(273)	(282)
Principal payments on financing leases	(998)	(998)
Proceeds received from note offering	0	550,000
Proceeds received from senior credit facility term loans	350,000	0
Payments on accounts receivable securitization program	(115,000)	(67,500)
Proceeds received from accounts receivable securitization program	140,000	120,000
Redemption of senior notes and senior subordinated notes	0	(668,688)
Debt issuance costs	(1,564)	(8,662)
Distributions to non-controlling interest	(1,019)	(82)
Net cash used in financing activities	(154,842)	(319,139)
Effect of exchange rate changes in cash and cash equivalents	(232)	143
Net decrease in cash and cash equivalents	(20,433)	(34,000)
Cash and cash equivalents at beginning of period	99,788	121,569
Cash and cash equivalents at end of period	79,355	87,569
LAMAR MEDIA CORP. AND SUBSIDIARIES
Cash flows from operating activities:
Net cash provided by (used in) operating activities	499,420	470,698
Cash flows from investing activities:
Acquisitions	(287,860)	(107,593)
Capital expenditures	(116,808)	(71,513)
Payment for investments in equity securities		(30,000)
Proceeds from disposition of assets and investments	2,146	5,761
Decrease in notes receivable	58	107
Investment in subsidiaries	0	0
Decrease (increase) in intercompany notes receivable	0	0
Net cash (used in) provided by investing activities	(402,464)	(203,238)
Cash flows from financing activities:
Proceeds received from revolving credit facility	400,000	25,000
Payments on revolving credit facility	(575,000)	(25,000)
Principal payments on long-term debt	(273)	(282)
Principal payments on financing leases	(998)	(998)
Proceeds received from note offering		550,000
Proceeds received from senior credit facility term loans	350,000
Payments on accounts receivable securitization program	(115,000)	(67,500)
Proceeds received from accounts receivable securitization program	140,000	120,000
Redemption of senior notes and senior subordinated notes		(668,688)
Debt issuance costs	(1,564)	(8,662)
Intercompany loan (payments) proceeds	0	0
Distributions to non-controlling interest	(1,019)	(82)
Dividends (to) from parent	(366,015)	(258,703)
Contributions from (to) parent	52,712	33,312
Net cash used in financing activities	(117,157)	(301,603)
Effect of exchange rate changes in cash and cash equivalents	(232)	143
Net decrease in cash and cash equivalents	(20,433)	(34,000)
Cash and cash equivalents at beginning of period	99,288	121,069
Cash and cash equivalents at end of period	78,855	87,069
Eliminations | LAMAR MEDIA CORP. AND SUBSIDIARIES
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(472,917)	(467,049)
Cash flows from investing activities:
Acquisitions	0	0
Capital expenditures	0	0
Payment for investments in equity securities		0
Proceeds from disposition of assets and investments	0	0
Decrease in notes receivable	0	0
Investment in subsidiaries	287,860	107,593
Decrease (increase) in intercompany notes receivable	(14,158)	(53,515)
Net cash (used in) provided by investing activities	273,702	54,078
Cash flows from financing activities:
Proceeds received from revolving credit facility	0	0
Payments on revolving credit facility	0	0
Principal payments on long-term debt	0	0
Principal payments on financing leases	0	0
Proceeds received from note offering		0
Proceeds received from senior credit facility term loans	0
Payments on accounts receivable securitization program	0	0
Proceeds received from accounts receivable securitization program	0	0
Redemption of senior notes and senior subordinated notes		0
Debt issuance costs	0	0
Intercompany loan (payments) proceeds	14,158	53,515
Distributions to non-controlling interest	0	0
Dividends (to) from parent	472,917	467,049
Contributions from (to) parent	(287,860)	(107,593)
Net cash used in financing activities	199,215	412,971
Effect of exchange rate changes in cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Lamar Media Corp. | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
Cash flows from operating activities:
Net cash provided by (used in) operating activities	391,078	380,225
Cash flows from investing activities:
Acquisitions	0	0
Capital expenditures	0	0
Payment for investments in equity securities		0
Proceeds from disposition of assets and investments	0	0
Decrease in notes receivable	0	0
Investment in subsidiaries	(287,860)	(107,593)
Decrease (increase) in intercompany notes receivable	14,158	53,515
Net cash (used in) provided by investing activities	(273,702)	(54,078)
Cash flows from financing activities:
Proceeds received from revolving credit facility	400,000	25,000
Payments on revolving credit facility	(575,000)	(25,000)
Principal payments on long-term debt	0	0
Principal payments on financing leases	0	0
Proceeds received from note offering		550,000
Proceeds received from senior credit facility term loans	350,000
Payments on accounts receivable securitization program	0	0
Proceeds received from accounts receivable securitization program	0	0
Redemption of senior notes and senior subordinated notes		(668,688)
Debt issuance costs	(1,328)	(8,224)
Intercompany loan (payments) proceeds	0	0
Distributions to non-controlling interest	0	0
Dividends (to) from parent	(366,015)	(258,703)
Contributions from (to) parent	52,712	33,312
Net cash used in financing activities	(139,631)	(352,303)
Effect of exchange rate changes in cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(22,255)	(26,156)
Cash and cash equivalents at beginning of period	91,023	110,588
Cash and cash equivalents at end of period	68,768	84,432
Guarantor Subsidiaries | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
Cash flows from operating activities:
Net cash provided by (used in) operating activities	611,985	584,251
Cash flows from investing activities:
Acquisitions	(287,860)	(107,593)
Capital expenditures	(113,736)	(67,767)
Payment for investments in equity securities		(30,000)
Proceeds from disposition of assets and investments	2,146	5,761
Decrease in notes receivable	58	107
Investment in subsidiaries	0	0
Decrease (increase) in intercompany notes receivable	0	0
Net cash (used in) provided by investing activities	(399,392)	(199,492)
Cash flows from financing activities:
Proceeds received from revolving credit facility	0	0
Payments on revolving credit facility	0	0
Principal payments on long-term debt	(273)	(282)
Principal payments on financing leases	(998)	(998)
Proceeds received from note offering		0
Proceeds received from senior credit facility term loans	0
Payments on accounts receivable securitization program	0	0
Proceeds received from accounts receivable securitization program	0	0
Redemption of senior notes and senior subordinated notes		0
Debt issuance costs	0	0
Intercompany loan (payments) proceeds	(28,204)	(24,119)
Distributions to non-controlling interest	0	0
Dividends (to) from parent	(472,917)	(467,049)
Contributions from (to) parent	287,860	107,593
Net cash used in financing activities	(214,532)	(384,855)
Effect of exchange rate changes in cash and cash equivalents	0	0
Net decrease in cash and cash equivalents	(1,939)	(96)
Cash and cash equivalents at beginning of period	3,494	1,732
Cash and cash equivalents at end of period	1,555	1,636
Non- Guarantor Subsidiaries | Reportable Legal Entities | LAMAR MEDIA CORP. AND SUBSIDIARIES
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(30,726)	(26,729)
Cash flows from investing activities:
Acquisitions	0	0
Capital expenditures	(3,072)	(3,746)
Payment for investments in equity securities		0
Proceeds from disposition of assets and investments	0	0
Decrease in notes receivable	0	0
Investment in subsidiaries	0	0
Decrease (increase) in intercompany notes receivable	0	0
Net cash (used in) provided by investing activities	(3,072)	(3,746)
Cash flows from financing activities:
Proceeds received from revolving credit facility	0	0
Payments on revolving credit facility	0	0
Principal payments on long-term debt	0	0
Principal payments on financing leases	0	0
Proceeds received from note offering		0
Proceeds received from senior credit facility term loans	0
Payments on accounts receivable securitization program	(115,000)	(67,500)
Proceeds received from accounts receivable securitization program	140,000	120,000
Redemption of senior notes and senior subordinated notes		0
Debt issuance costs	(236)	(438)
Intercompany loan (payments) proceeds	14,046	(29,396)
Distributions to non-controlling interest	(1,019)	(82)
Dividends (to) from parent	0	0
Contributions from (to) parent	0	0
Net cash used in financing activities	37,791	22,584
Effect of exchange rate changes in cash and cash equivalents	(232)	143
Net decrease in cash and cash equivalents	3,761	(7,748)
Cash and cash equivalents at beginning of period	4,771	8,749
Cash and cash equivalents at end of period	$ 8,532	$ 1,001