Lamar Media 10-K 26 Feb 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 01, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	LAMR
Entity Registrant Name	LAMAR ADVERTISING CO/NEW
Entity Central Index Key	0001090425
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 5,693,120,893
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	1-36756
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
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Class A common stock, $0.001 par value
Security Exchange Name	NASDAQ
ICFR Auditor Attestation Flag	true
Documents Incorporated by Reference	Document Parts into Which Incorporated Proxy Statement for the Annual Meeting of Stockholders scheduled to be held on May 20, 2021 (Proxy Statement) Part III This combined Form 10-K is separately filed by (i) Lamar Advertising Company and (ii) Lamar Media Corp. (which is a wholly owned subsidiary of Lamar Advertising Company). Lamar Media Corp. meets the conditions set forth in general instruction I(1) (a) and (b) of Form 10-K and is, therefore, filing this form with the reduced disclosure format permitted by such instruction.
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		86,491,646
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,420,085
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	LAMAR MEDIA CORP/DE
Entity Central Index Key	0000899045
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	1-12407
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1205791
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
ICFR Auditor Attestation Flag	true
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Class Units [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		100

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 121,569	$ 26,188
Receivables, net of allowance for doubtful accounts	240,854	254,930
Other current assets	18,147	29,051
Total current assets	380,570	310,169
Property, plant and equipment	3,615,505	3,660,311
Less accumulated depreciation and amortization	(2,333,656)	(2,311,196)
Net property, plant and equipment	1,281,849	1,349,115
Operating lease right of use assets	1,222,013	1,320,779
Financing lease right of use assets	19,670
Goodwill	1,912,328	1,912,274
Intangible assets, net	914,446	992,244
Other assets	60,565	56,574
Total assets	5,791,441	5,941,155
Current liabilities:
Trade accounts payable	12,017	14,974
Current maturities of long-term debt, net of deferred financing costs	122,434	226,514
Current operating lease liabilities	195,439	196,841
Current financing lease liabilities	1,331
Accrued expenses	105,288	107,225
Deferred income	111,363	127,254
Total current liabilities	547,872	672,808
Long-term debt, net of deferred financing costs	2,764,082	2,753,604
Operating lease liabilities	993,776	1,068,181
Financing lease liabilities	18,608
Deferred income tax liabilities	4,854	5,713
Asset retirement obligation	222,876	226,137
Other liabilities	36,605	34,406
Total liabilities	4,588,673	4,760,849
Stockholders’ equity:
Additional paid-in-capital	1,963,850	1,922,222
Accumulated comprehensive income	934	685
Accumulated deficit	(717,331)	(708,408)
Cost of shares held in treasury, 619,681 and 503,198 shares in 2020 and 2019, respectively	(44,786)	(34,294)
Stockholders’ equity	1,202,768	1,180,306
Total liabilities and stockholders’ equity	5,791,441	5,941,155
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Current assets:
Cash and cash equivalents	121,069	25,688
Receivables, net of allowance for doubtful accounts	240,854	254,930
Other current assets	18,147	29,051
Total current assets	380,070	309,669
Property, plant and equipment	3,615,505	3,660,311
Less accumulated depreciation and amortization	(2,333,656)	(2,311,196)
Net property, plant and equipment	1,281,849	1,349,115
Operating lease right of use assets	1,222,013	1,320,779
Financing lease right of use assets	19,670
Goodwill	1,902,177	1,902,123
Intangible assets, net	913,978	991,776
Other assets	54,950	50,959
Total assets	5,774,707	5,924,421
Current liabilities:
Trade accounts payable	12,017	14,974
Current maturities of long-term debt, net of deferred financing costs	122,434	226,514
Current operating lease liabilities	195,439	196,841
Current financing lease liabilities	1,331
Accrued expenses	98,478	101,266
Deferred income	111,363	127,254
Total current liabilities	541,062	666,849
Long-term debt, net of deferred financing costs	2,764,082	2,753,604
Operating lease liabilities	993,776	1,068,181
Financing lease liabilities	18,608
Deferred income tax liabilities	4,854	5,713
Asset retirement obligation	222,876	226,137
Other liabilities	36,605	34,406
Total liabilities	4,581,863	4,754,890
Stockholders’ equity:
Additional paid-in-capital	3,034,357	2,992,729
Accumulated comprehensive income	934	685
Accumulated deficit	(1,842,447)	(1,823,883)
Stockholders’ equity	1,192,844	1,169,531
Total liabilities and stockholders’ equity	5,774,707	5,924,421
Series AA Preferred Stock [Member]
Stockholders’ equity:
Preferred stock, value
Common Class A [Member]
Stockholders’ equity:
Common stock, value	87	87
Common Class B [Member]
Stockholders’ equity:
Common stock, value	$ 14	$ 14

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Allowance for doubtful accounts	$ 14,946	$ 13,185
Current deferred financing costs	445	6,081
Noncurrent deferred financing costs	$ 39,672	$ 18,333
Shares held in treasury	619,681	503,198
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Allowance for doubtful accounts	$ 14,946	$ 13,185
Current deferred financing costs	445	6,081
Noncurrent deferred financing costs	$ 39,672	$ 18,333
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000	3,000
Common stock, shares issued	100	100
Common stock, shares outstanding	100	100
Series AA Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, cumulative dividends	$ 63.80	$ 63.80
Preferred stock, shares authorized	5,720	5,720
Preferred stock, shares issued	5,720	5,720
Preferred stock, shares outstanding	5,720	5,720
Common Class A [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	362,500,000	362,500,000
Common stock, shares issued	87,111,327	86,596,498
Common stock, shares outstanding	86,491,646	86,093,300
Common Class B [Member]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	37,500,000	37,500,000
Common stock, shares issued	14,420,085	14,420,085
Common stock, shares outstanding	14,420,085	14,420,085

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net revenues	$ 1,568,856	$ 1,753,644	$ 1,627,222
Type of Revenue [Extensible List]		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	557,661	$ 590,078	$ 561,848
Type of Cost Good or Service [Extensible List]		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization)	287,874	$ 318,380	$ 289,428
Corporate expenses (exclusive of depreciation and amortization)	70,944	84,658	82,896
Depreciation and amortization	251,296	250,028	225,261
(Gain) loss on disposition of assets	(9,026)	(7,241)	7,233
Total Operating Expenses	1,158,749	1,235,903	1,166,666
Operating income	410,107	517,741	460,556
Other expense (income)
Loss on extinguishment of debt	25,235		15,429
Interest income	(797)	(764)	(534)
Interest expense	137,623	150,616	129,732
Non-operating (Income) Expenses	162,061	149,852	144,627
Income before income tax expense (benefit)	248,046	367,889	315,929
Income tax expense (benefit) (note 12)	4,660	(4,222)	10,697
Net income	243,386	372,111	305,232
Preferred stock dividends	365	365	365
Net income applicable to common stock	$ 243,021	$ 371,746	$ 304,867
Earnings per share:
Basic earnings per share	$ 2.41	$ 3.71	$ 3.09
Diluted earnings per share	2.41	3.71	3.08
Cash dividends declared per share of common stock	$ 2.50	$ 3.84	$ 3.65
Weighted average common shares used in computing earnings per share:
Weighted average common shares outstanding basic	100,756,361	100,130,721	98,817,525
Weighted average common shares outstanding diluted	100,902,700	100,320,574	99,086,160
Statements of Comprehensive Income
Net income	$ 243,386	$ 372,111	$ 305,232
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	249	673	(1,290)
Comprehensive income	243,635	372,784	303,942
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Net revenues	1,568,856	$ 1,753,644	$ 1,627,222
Type of Revenue [Extensible List]		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses (income)
Direct advertising expenses (exclusive of depreciation and amortization)	557,661	$ 590,078	$ 561,848
Type of Cost Good or Service [Extensible List]		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
General and administrative expenses (exclusive of depreciation and amortization)	287,874	$ 318,380	$ 289,428
Corporate expenses (exclusive of depreciation and amortization)	70,457	84,229	82,497
Depreciation and amortization	251,296	250,028	225,261
(Gain) loss on disposition of assets	(9,026)	(7,241)	7,233
Total Operating Expenses	1,158,262	1,235,474	1,166,267
Operating income	410,594	518,170	460,955
Other expense (income)
Loss on extinguishment of debt	25,235		15,429
Interest income	(797)	(764)	(534)
Interest expense	137,623	150,616	129,732
Non-operating (Income) Expenses	162,061	149,852	144,627
Income before income tax expense (benefit)	248,533	368,318	316,328
Income tax expense (benefit) (note 12)	4,660	(4,222)	10,697
Net income	243,873	372,540	305,631
Statements of Comprehensive Income
Net income	243,873	372,540	305,631
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	249	673	(1,290)
Comprehensive income	$ 244,122	$ 373,213	$ 304,341

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Accumulated Comprehensive Income (Loss) [Member]	Accumulated Comprehensive Income (Loss) [Member]LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Beginning Balance at Dec. 31, 2017	$ 1,103,493	$ 1,091,098	$ 84	$ 14	$ (21,300)	$ 1,762,499	$ 2,832,940	$ 1,302	$ 1,302	$ (639,106)	$ (1,743,144)
Non-cash compensation	4,012					4,012
Issuance of common stock through stock awards	11,012					11,012
Exercise of stock options	13,433		1			13,432
Issuance of shares of common stock through employee purchase plan	7,115					7,115
Issuance of common stock for cash	42,070		1			42,069
Issuance of common stock for purchase of assets	12,282					12,282
Purchase of treasury stock	(4,112)				(4,112)
Foreign currency translation		(1,290)							(1,290)
Contribution from parent		89,967					89,967
Foreign currency translation	(1,290)							(1,290)
Net income	305,232	305,631								305,232	305,631
Dividend to parent		(365,210)									(365,210)
Dividends/distributions to common shareholders	(361,098)									(361,098)
Dividends	(365)									(365)
Ending Balance at Dec. 31, 2018	1,131,784	1,120,196	86	14	(25,412)	1,852,421	2,922,907	12	12	(695,337)	(1,802,723)
Non-cash compensation	4,604					4,604
Issuance of common stock through stock awards	20,956					20,956
Exercise of stock options	14,984					14,984
Issuance of shares of common stock through employee purchase plan	8,060					8,060
Issuance of common stock for cash	21,198		1			21,197
Purchase of treasury stock	(8,882)				(8,882)
Foreign currency translation		673							673
Contribution from parent		69,822					69,822
Foreign currency translation	673							673
Net income	372,111	372,540								372,111	372,540
Dividend to parent		(393,700)									(393,700)
Dividends/distributions to common shareholders	(384,817)									(384,817)
Dividends	(365)									(365)
Ending Balance at Dec. 31, 2019	1,180,306	1,169,531	87	14	(34,294)	1,922,222	2,992,729	685	685	(708,408)	(1,823,883)
Non-cash compensation	4,669					4,669
Issuance of common stock through stock awards	25,811					25,811
Exercise of stock options	3,138					3,138
Issuance of shares of common stock through employee purchase plan	8,010					8,010
Purchase of treasury stock	(10,492)				(10,492)
Foreign currency translation		249							249
Contribution from parent		41,628					41,628
Foreign currency translation	249							249
Net income	243,386	243,873								243,386	243,873
Dividend to parent		(262,437)									(262,437)
Dividends/distributions to common shareholders	(251,944)									(251,944)
Dividends	(365)									(365)
Ending Balance at Dec. 31, 2020	$ 1,202,768	$ 1,192,844	$ 87	$ 14	$ (44,786)	$ 1,963,850	$ 3,034,357	$ 934	$ 934	$ (717,331)	$ (1,842,447)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Exercise of stock options	61,949	340,684	361,618
Common stock shares issued for cash		266,410	576,002
Common stock shares issued for purchase of assets			163,137
Purchase of treasury stock	116,483	114,295	57,619
Common stock dividends/distributions	$ 2.50	$ 3.84	$ 3.65
Preferred stock dividend shares	$ 63.80	$ 63.80	$ 63.80
Common stock awards	298,124	302,507	150,259
Common stock purchase plan	154,756	129,972	126,012
Additional Paid-in Capital [Member]
Exercise of stock options	61,949	340,684	361,618
Common stock shares issued for cash		266,410	576,002
Common stock awards	298,124	302,507	150,259
Common stock purchase plan	154,756	129,972	126,012
Treasury Stock [Member]
Purchase of treasury stock	116,483	114,295	57,619
Accumulated Deficit [Member]
Common stock dividends/distributions	$ 2.50	$ 3.84	$ 3.65
Preferred stock dividend shares	$ 63.80	$ 63.80	$ 63.80

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 243,386	$ 372,111	$ 305,232
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	251,296	250,028	225,261
Stock-based compensation	18,772	29,647	29,443
Amortization included in interest expense	5,909	5,365	4,920
(Gain) loss on disposition of assets	(9,026)	(7,241)	7,233
Loss on extinguishment of debt	25,235		15,429
Deferred income tax (benefit) expense	(797)	(14,130)	1,538
Provision for doubtful accounts	12,729	10,608	7,985
Decrease (increase) in:
Receivables	1,287	(28,357)	(33,292)
Prepaid expenses	591	275	(5,433)
Other assets	7,629	(11,257)	2,828
Increase (decrease) in:
Trade accounts payable	841	700	1,366
Accrued expenses	10,052	(1,597)	(6,292)
Operating lease liabilities	24,549	9,102
Other liabilities	(22,580)	15,611	8,628
Cash flows provided by operating activities	569,873	630,865	564,846
Cash flows from investing activities:
Capital expenditures	(62,272)	(140,956)	(117,638)
Acquisitions	(45,584)	(226,278)	(477,389)
(Increase) decrease in notes receivable		(448)	9
Proceeds received from property insurance claims		210	4,222
Proceeds from disposition of assets and investments	10,968	5,438	6,648
Cash flows used in investing activities	(96,888)	(362,034)	(584,148)
Cash flows from financing activities:
Net proceeds from issuance of common stock	11,148	44,262	62,662
Cash used for purchase of treasury shares	(10,492)	(8,882)	(4,112)
Proceeds received from revolving credit facility	725,000	495,000	563,000
Payments on revolving credit facility	(875,000)	(625,000)	(481,000)
Principal payments on long term debt	(9,112)	(34,471)	(27,328)
Borrowings on long term debt	8,750
Proceeds received from senior credit facility term loans	598,500		599,250
Payments on senior credit facility term loans	(978,097)
Proceeds received from accounts receivable securitization program	122,500	9,000	175,000
Payments on accounts receivable securitization program	(175,000)	(9,000)
Debt issuance costs	(32,950)	(4,463)	(7,616)
Proceeds received from note offering	1,549,250	255,000
Redemption of senior notes and senior subordinated notes	(1,058,596)		(509,790)
Distributions to non-controlling interest	(1,509)	(621)	(541)
Dividends/distributions	(252,309)	(385,182)	(443,088)
Cash flows used in financing activities	(377,917)	(264,357)	(73,563)
Effect of exchange rate changes in cash and cash equivalents	313	220	(1,112)
Net increase (decrease) in cash and cash equivalents	95,381	4,694	(93,977)
Cash and cash equivalents at beginning of period	26,188	21,494	115,471
Cash and cash equivalents at end of period	121,569	26,188	21,494
Supplemental disclosures of cash flow information:
Cash paid for interest	130,864	139,585	136,711
Cash paid for state and federal income taxes	4,033	14,449	8,563
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net income	243,873	372,540	305,631
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	251,296	250,028	225,261
Stock-based compensation	18,772	29,647	29,443
Amortization included in interest expense	5,909	5,365	4,920
(Gain) loss on disposition of assets	(9,026)	(7,241)	7,233
Loss on extinguishment of debt	25,235		15,429
Deferred income tax (benefit) expense	(797)	(14,130)	1,538
Provision for doubtful accounts	12,729	10,608	7,985
Decrease (increase) in:
Receivables	1,287	(28,357)	(33,292)
Prepaid expenses	591	275	(5,433)
Other assets	7,629	(11,257)	3,270
Increase (decrease) in:
Trade accounts payable	841	700	1,366
Accrued expenses	10,052	(1,597)	(6,292)
Operating lease liabilities	24,549	9,102
Other liabilities	(53,911)	(10,743)	(19,974)
Cash flows provided by operating activities	539,029	604,940	537,085
Cash flows from investing activities:
Capital expenditures	(62,272)	(140,956)	(117,638)
Acquisitions	(45,584)	(226,278)	(477,389)
(Increase) decrease in notes receivable		(448)	9
Proceeds received from property insurance claims		210	4,222
Proceeds from disposition of assets and investments	10,968	5,438	6,648
Cash flows used in investing activities	(96,888)	(362,034)	(584,148)
Cash flows from financing activities:
Proceeds received from revolving credit facility	725,000	495,000	563,000
Payments on revolving credit facility	(875,000)	(625,000)	(481,000)
Principal payments on long term debt	(9,112)	(34,471)	(27,328)
Borrowings on long term debt	8,750
Proceeds received from senior credit facility term loans	598,500		599,250
Payments on senior credit facility term loans	(978,097)
Proceeds received from accounts receivable securitization program	122,500	9,000	175,000
Payments on accounts receivable securitization program	(175,000)	(9,000)
Debt issuance costs	(32,950)	(4,463)	(7,616)
Proceeds received from note offering	1,549,250	255,000
Redemption of senior notes and senior subordinated notes	(1,058,596)		(509,790)
Distributions to non-controlling interest	(1,509)	(621)	(541)
Dividends to parent	(262,437)	(393,700)	(446,744)
Contributions from parent	41,628	69,822	89,967
Cash flows used in financing activities	(347,073)	(238,433)	(45,802)
Effect of exchange rate changes in cash and cash equivalents	313	221	(1,112)
Net increase (decrease) in cash and cash equivalents	95,381	4,694	(93,977)
Cash and cash equivalents at beginning of period	25,688	20,994	114,971
Cash and cash equivalents at end of period	121,069	25,688	20,994
Supplemental disclosures of cash flow information:
Cash paid for interest	130,864	139,585	136,711
Cash paid for state and federal income taxes	$ 4,033	$ 14,449	$ 8,563

Description of the Business and

Description of the Business and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Description of the Business and Significant Accounting Policies	(1) Description of the Business and Significant Accounting Policies (a) Nature of Business Lamar Advertising Company (the Company) is engaged in the outdoor advertising business, operating approximately 153,200 billboard advertising displays in 45 states and Canada. The Company’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. In addition, the Company operates a logo sign business in 23 states throughout the United States and the province of Ontario, Canada and operates approximately 47,700 transit advertising displays in 22 states and Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising in airport terminals, on bus shelters, benches and buses in the markets it serves. The Company operates as a Real Estate Investment Trust (“REIT”) for U.S. federal income tax purposes and generally will not be subject to federal income taxes on its income and gains that the Company distributes to its stockholders, including the income derived from advertising rental revenue. However, even as a REIT, the Company will remain obligated to pay income taxes on earnings from the assets of its taxable REIT subsidiaries (“TRSs”). In addition, the Company’s foreign assets and operations continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted. The unprecedented COVID-19 pandemic and the related government-imposed restrictions and social distancing measures have had an adverse effect on the demand for out-of-home advertising. As a result, demand for billboard, transit and airport advertising has declined, which has negatively affected the Company’s revenues and financial position for the year ended December 31, 2020. We have implemented measures to mitigate the impact on the Company’s financial position, which include: maintaining substantial liquidity and strengthening our debt maturity schedule (see Note 9 Long-term Debt (b) Principles of Consolidation The accompanying consolidated financial statements include Lamar Advertising Company, its wholly owned subsidiary, Lamar Media Corp. (Lamar Media), and its majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. An operating segment is a component of an enterprise: • that engages in business activities from which it may earn revenues and incur expenses; • whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and • for which discrete financial information is available. We define the term ‘chief operating decision maker’ to be our executive management group, which consist of our Executive Chairman, President and Chief Executive Officer, and Chief Financial Officer. Currently, all operations are reviewed on a consolidated basis for budget and business plan performance by our executive management group. Additionally, operational performance at the end of each reporting period is viewed in the aggregate by our management group. Any decisions related to changes in invested capital, personnel, operational improvement or training, or to allocate other company resources are made based on the combined results. We operate in a single operating and reporting segment, advertising. We rent advertising space on billboards, buses, shelters, benches, logo plates and in airport terminals. (c) Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. (d) Goodwill and Intangible Assets Goodwill is subject to an annual impairment test. The Company designated December 31 as the date of its annual goodwill impairment test. The Company is required to identify its reporting units and determine the carrying value of each reporting unit. The Company has identified two reporting units, Billboard operations and Logo operations, by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units. The Company is required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, the Company would be required to book an impairment loss. The Company conducts a qualitative assessment by examining relevant events and circumstances which could have a negative impact on the Company’s goodwill, which includes macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, reporting unit dispositions and acquisitions, the market capitalization of the Company and other relevant events specific to the Company. If, after assessing the totality of events or circumstances described above, the Company determines that it is more likely than not that the fair value of either of the Company's reporting units is less than its carrying amount, the Company will perform a quantitative impairment test. If industry and economic conditions deteriorate, the Company may be required to assess goodwill impairment before the next annual test, which could result in impairment charges. The Company performed its annual measurement for impairment of the goodwill of its reporting units and concluded the fair value of each reporting unit exceeded its carrying amount at its annual impairment test date on December 31, 2020 and 2019; therefore, the Company was not required to recognize an impairment loss. Intangible assets, consisting primarily of site locations, customer lists and contracts, and non-competition agreements are amortized using the straight-line method over the assets estimated useful lives, generally from 2 to 15 years. (e) Impairment of Long-Lived Assets Long-lived assets, such as property, plant and equipment, lease right of use assets and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset or asset group before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet. (f) Acquisitions The Company accounts for transactions that meet the definition of a business and group asset purchases as acquisitions. For transactions that meet the definition of a business combination, the Company allocates the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. The determination of the final purchase price and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period and result in adjustments to the preliminary estimate recognized in the prior period financial statements For transactions that meet the definition of asset group purchases, the Company proportionally allocates the purchase price to the assets based on relative fair value acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition. If a transaction is determined to be a group of assets, any direct acquisition costs are capitalized. Transaction costs for transactions determined to be a business combination are expensed as incurred. The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, the Company must estimate the cost to replace the asset with a new asset, adjusted for an estimated reduction in fair value due to age of the asset, and the economic useful life. When determining the fair value of intangible assets acquired, the Company must estimate the applicable discount rate and the timing and amount of future cash flows. (g) Lease Liabilities On January 1, 2019, the Company adopted ASC 842, Leases The Company is party to various operating leases for production facilities, vehicles and sites upon which advertising structures are built, including our billboard land leases, leases of logo structures and leases of transit advertising space. The leases expire at various dates, have varying options to renew and cancel, and may contain escalation provisions. We expense our non-variable lease payments ratably over the lease term. Also, certain of our leases contain variable lease payments based on percentage of revenue or consumer price index or other inflation-based indices. The variable lease costs are expensed in the period incurred. Financing lease right of use assets are amortized over the life of the lease which is recorded in depreciation and amortization on the consolidated statements of income and comprehensive income. Interest related to financing lease liabilities is recorded in interest expense on the consolidated statements of income and comprehensive income. The key estimates for our leases include (1) the discount rate used to discount the unpaid lease payment to present value and (2) lease term. Our leases generally do not include a readily determinable implicit rate, therefore, using a portfolio approach, we determine our collateralized incremental borrowing rate to discount the lease payment based on the information available at lease commencement. Our lease terms include the noncancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. The Company has determined we are not reasonably certain to exercise renewals or termination options, and as a result we use the lease’s initial stated term as the lease term for our lease population. (h) Deferred Income Deferred income consists principally of advertising revenue invoiced in advance. Deferred advertising revenue is recognized in income over the term of the contract. (i) Revenue Recognition The Company recognizes outdoor advertising revenue on an accrual basis ratably over the term of the contracts. Production revenue and the related expense for the advertising copy are recognized upon satisfaction of its performance obligation. The Company engages in barter transactions where the Company trades advertising space for goods and services. The Company recognizes revenues and expenses from barter transactions at fair value, which is determined based on the Company’s own historical practice of receiving cash for similar advertising space from buyers unrelated to the party in the barter transaction. The amount of revenue and expense recognized for advertising barter transactions is as follows: 2020 2019 2018 Net revenues $ 8,088 $ 9,636 $ 8,955 Direct advertising expenses $ 3,971 $ 3,982 $ 3,633 General and administrative expenses $ 3,144 $ 4,986 $ 4,758 (j) Income Taxes As a REIT, the Company is generally not subject to federal income taxes on income and gains distributed to the Company’s stockholders. However, the Company remains obligated to pay income taxes on earnings from domestic TRSs. In addition, the Company’s foreign assets and operations continue to be subject to taxation in the foreign jurisdictions where those assets are held or where those operations are conducted, including those designated as Qualified REIT Subsidiaries, or QRSs, for federal income tax purposes. Accordingly, the consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized in income in the period that includes the enactment date. (k) Dividends/Distributions As a REIT, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). During the years ended December 31, 2020 and 2019, the Company declared and paid distributions of its REIT taxable income of $251,944 or $2.50 per share and $384,817 or $3.84 per share, respectively. During the year ended December 31, 2018, the Company paid cash distributions of its REIT taxable income in an aggregate amount of $442,632 or $4.48 per share. The distributions paid during 2018 include distributions declared and accrued as of December 31, 2017 of $81,534 or $0.83 per share. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including the 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 its existing and future debt instruments, the Company’s ability to utilize net operating losses (“NOLs”) to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its TRSs and other factors that the Board of Directors may deem relevant. During each of the years ended December 31, 2020 and 2019, the Company paid dividend distributions to holders of its Series AA Preferred Stock of $365 or $63.80 per share. During the year ended December 31, 2018, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $456 or $79.75 per share, including $91, or $15.95 per share, related to distributions accrued for in 2017. (l) Earnings Per Share The calculation of basic earnings per share excludes any dilutive effect of stock options, while diluted earnings per share includes the dilutive effect of stock options. For the years ended December 31, 2020, 2019 and 2018 there were no dilutive shares excluded from the calculation. (m) Stock Based Compensation Compensation expense for share-based awards is recognized based on the grant date fair value of those awards. Stock based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis, which generally commensurates with the vesting term. Non-cash compensation expense recognized during the years ended December 31, 2020, 2019, and 2018 were $18,772, $29,647 and $29,443, respectively. The $18,772 expensed during the year ended December 31, 2020 consists of (i) $4,249 related to stock options and the employee stock purchase plan, (ii) $12,602 related to stock grants made under the Company’s performance-based stock incentive program in 2020, (iii) $1,451 related to non-performance restricted stock awards and (iv) $470 related to restricted stock awards to directors. See Note 15 for information on the assumptions used to calculate the fair value of stock-based compensation. (n) Cash and Cash Equivalents The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents. (o) Credit Losses The Company estimates credit losses on financial instruments based on amounts expected to be collected. The allowance for doubtful accounts is estimated based on historical collections, accounts receivable aging, economic indicators, and expected future trends. (p) Foreign Currency Translation Local currencies generally are considered the functional currencies outside the United States. Assets and liabilities for operations in local-currency environments are translated at year-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are recorded as a component of other comprehensive income (loss) in the Consolidated Statements of Income and Comprehensive Income and as a component of accumulated comprehensive income (loss) in the Consolidated Statements of Stockholders’ Equity. (q) Asset Retirement Obligations The Company is required to record the fair value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset’s carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company’s asset retirement obligations relate primarily to the dismantlement, removal, site reclamation and similar activities of its leased properties. (r) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. (s) Comprehensive Income Total comprehensive income is presented in the Consolidated Statements of Income and Comprehensive Income and the components of accumulated comprehensive income (loss) are presented in the Consolidated Statements of Stockholders’ Equity. Comprehensive income (loss) is composed of foreign currency translation effects. (t) Fair Value Measurements The Company determines the fair value of its financial instruments using the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. (u) Subsequent Events The Company has performed an evaluation of subsequent events through the date on which the financial statements are issued.
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Description of the Business and Significant Accounting Policies	(1) Description of the Business and Significant Accounting Policies (a) Nature of Business Lamar Media Corp. (“Lamar Media”) is a wholly owned subsidiary of Lamar Advertising Company. Lamar Media is engaged in the outdoor advertising business operating approximately 153,200 outdoor advertising displays in 45 states and Canada. Lamar Media’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. In addition, Lamar Media operates a logo sign business in 23 states throughout the United States as well as the province of Ontario, Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising in airport terminals, on bus shelters, benches and buses in the markets it serves. The unprecedented COVID-19 pandemic and the related government-imposed restrictions and social distancing measures have had an adverse effect on the demand for out-of-home advertising. As a result, demand for billboard, transit and airport advertising has declined, which has negatively affected Lamar Media’s revenues and financial position for the year ended December 31, 2020. We have implemented measures to mitigate the impact on Lamar Media’s financial position, which include: maintaining substantial liquidity and strengthening our debt maturity schedule, reducing our consolidated operating costs (exclusive of depreciation and amortization and gain on disposition of assets), limiting spending on capital projects, minimizing acquisition activity, and utilizing portions of the CARES Act for deferral of employer portions of social security taxes through the end of 2020. Management continues to monitor the effects of the COVID-19 pandemic on our business and the ultimate extent of impact on our financial position and results of operations cannot currently be predicted. Certain footnotes are not provided for the accompanying financial statements as the information in notes 2, 3, 5, 7, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 23 and 24 and portions of note 1 to the consolidated financial statements of Lamar Advertising Company included elsewhere in this filing are substantially equivalent to that required for the consolidated financial statements of Lamar Media Corp. Earnings per share data is not provided for the operating results of Lamar Media Corp. as it is a wholly owned subsidiary of Lamar Advertising Company. (b) Principles of Consolidation The accompanying consolidated financial statements include Lamar Media, its wholly owned subsidiaries, The Lamar Company, L.L.C., Lamar Central Outdoor, LLC, Lamar TRS Holdings, LLC, Lamar Advertising Southwest, Inc., Interstate Logos, L.L.C., Lamar Obie Company, LLC, Lamar Canadian Outdoor Company, Lamar Advertising of Puerto Rico, Inc., Lamar QRS Receivables, LLC, Fairway Media Group, LCC, Ashby Street Outdoor Holdings, LLC and their majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.

Revenues

Revenues	12 Months Ended
	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenues	(2) Revenue On January 1, 2018, we adopted FASB Accounting Standards Update (“ASU”) No. 2014-09 (Codified as ASC 606), Revenue from Contracts with Customers Leases A majority of our billboard, logo, and transit space contracts were accounted for under ASC 840 and continued to be accounted for under the topic until January 1, 2019, our adoption date of ASU No. 2016-02 (Codified as ASC 842), Leases Revenue Due to the transition of our advertising space contracts into ASC 606 we are now required to capitalize our costs to fulfill a contract and expense the costs over the contract period. These costs include our costs to install advertising copy onto billboards. These costs were expensed as incurred under ASC 840. During the years ended December 31, 2020 and 2019, we capitalized $22,698 and $24,920, respectively, of costs to fulfill a contract which is included in other current assets on the Consolidated Balance Sheets, net of expensed costs of $23,085 and $15,734, respectively. The expensed costs are recorded in direct advertising expenses (exclusive of depreciation and amortization) in the Consolidated Statements of Income and Comprehensive Income. Revenue Recognition Advertising revenues : The majority of our revenues are derived from contracts for advertising space on billboard, logo and transit displays and were accounted for under ASC 840, prior to January 1, 2019. Upon the Company’s adoption of ASC 842, on January 1, 2019 the majority of our contracts for advertising space transitioned to being accounted for under ASC 606, The contract revenues, under both ASC 840, and ASC 606, , are recognized ratably over their contract life. Other revenues: Our other component of revenue primarily consists of production services which includes creating and printing the advertising copy. Revenue for production contracts are recognized under ASC 606, . Contract revenues for production services are recognized upon satisfaction of the contract which is typically less than one week. Arrangements with multiple performance obligations: Our contracts with customers may include multiple performance obligations. For such arrangements, we allocate revenue to each performance obligation based on the relative standalone selling price. We determine standalone selling prices based on the prices charged to customers using expected cost plus margin. Deferred revenues: We record deferred revenues when cash payments are received or due in advance of our performance obligation. The term between invoicing and when a payment is due is not significant. For certain services we require payment before the product or services are delivered to the customer. The balance of deferred income is considered short-term and will be recognized in revenue within twelve months. Practical expedients and exemptions: Upon our transition to ASC 606 from ASC 840, the Company utilized the following practical expedients and exemptions from ASC 606. We generally expense sales commissions when incurred because the amortization period is one year or less. These costs are recorded within direct advertising expense (exclusive of depreciation and amortization). We do not disclose the value of unsatisfied performance obligations as the majority of our contracts with customers have an original expected length of less than one year. For contracts with customers which exceed one year, the future amount to be invoiced to the customer corresponds directly with the value to be received by the customer. The following table presents our disaggregated revenue by source including revenues accounted for under ASC 840, ASC 842 and ASC 606 for the years ended December 31, 2020, 2019 and 2018. 2020 2019 2018 Billboard Advertising $ 1,403,239 $ 1,537,542 $ 1,412,978 Logo Advertising 82,944 84,201 84,424 Transit Advertising 82,673 131,901 129,820 Net Revenues $ 1,568,856 $ 1,753,644 $ 1,627,222

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Acquisitions	(3) Acquisitions Year Ended December 31, 2020 During the twelve months ended December 31, 2020, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of $46,160, of which $45,584 was in cash and $576 in non-cash consideration. Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition purchase price has been proportionally allocated to assets based on relative fair value acquired and liabilities assumed based on fair market value at the dates of acquisition. The following is a summary of the allocation of the purchase price in the above transactions. Total Property, plant and equipment $ 13,376 Site locations 27,902 Non-competition agreements 140 Customer lists and contracts 3,979 Asset acquisition costs 154 Current assets 3 Current liabilities (295 ) Operating right of use assets 7,269 Operating lease liabilities (6,368 ) $ 46,160 The total amount of acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $3,979 (7 year weighted average useful life) and site locations of $27,902 (15 year weighted average useful life). The aggregate amortization expense related to the 2020 acquisitions for the year ended December 31, 2020 was approximately $1,356. Year Ended December 31, 2019 During the twelve months ended December 31, 2019, the Company completed several acquisitions of outdoor advertising assets for a total purchase price of $226,278, net of acquired cash of $1,508. This amount includes $227,588 of outdoor advertising assets purchased in 2019, offset by $1,310 in post-closing adjustments to acquired working capital related to the purchase of Fairway Outdoor Advertising (“Fairway”) in 2018. Each of these acquisitions was accounted for under the acquisition method of accounting, and, accordingly, the accompanying consolidated financial statements include the results of operations of each acquired entity from the date of acquisition. The acquisition purchase price has been allocated to assets acquired and liabilities assumed based on fair market value at the dates of acquisition. The following is a summary of the allocation of the purchase price in the above transactions, which includes the final fair value allocation of the asset acquired and liabilities assumed in a business combination completed on July 15, 2019, for an aggregate purchase price of $127,000. Total Property, plant and equipment $ 37,988 Site locations 131,208 Non-competition agreements 240 Customer lists and contracts 23,032 Asset acquisition costs 756 Other intangibles 3,115 Goodwill 29,360 Current assets 1,860 Current liabilities (832 ) Operating right of use assets 23,934 Operating lease liabilities (21,573 ) Other liabilities (1,500 ) $ 227,588 Total acquired intangible assets for the year ended December 31, 2019 were $187,711, of which $29,360 was assigned to goodwill. Goodwill is not amortized for financial statement purposes, and no goodwill related to 2019 acquisitions is expected to be deductible for tax purposes. The remaining $158,351 of acquired intangible assets have a weighted average useful life of approximately 14 years. The intangible assets include customer lists and contracts of $23,032 (7 year weighted average useful life) and site locations of $ 131,208 ( 15 year weighted average useful life). The aggregate amortization expense related to the 2019 acquisitions for the year ended December 31, 2019 was approximately $ 7,570 . As of December 31, 2019, we finalized our fair value allocation of the assets acquired and liabilities assumed from Fairway on December 21, 2018. Our updated fair value allocation of Fairway during 2019 includes property, plant and equipment, intangibles and goodwill of $96,840, $188,400 and $145,534, respectively. During the period ended December 31, 2019, goodwill was adjusted $36,583 due to updates from the original preliminary purchase price allocation provided as of December 31, 2018. The updated allocation resulted in prior and current period changes to depreciation and amortization. These changes were considered immaterial and recorded during the year ended December 31, 2019. During the year ended December 31, 2019, assets purchased from Fairway, which were initially placed into our taxable REIT subsidiary, were transferred to our qualifying REIT subsidiary. As a result, the Company recorded an income tax benefit of $17,031 in deferred tax liabilities assumed from our purchase. The following unaudited pro forma financial information for the Company gives effect to the 2019 and 2018 acquisitions as if they had occurred on January 1, 2018. 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. 2019 2018 (unaudited) Net revenues $ 1,764,493 $ 1,724,821 Net income applicable to common stock $ 369,300 $ 292,012 Net income per common share — basic $ 3.69 $ 2.96 Net income per common share — diluted $ 3.68 $ 2.95

Non-cash Financing and Investin

Non-cash Financing and Investing Activities	12 Months Ended
	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Non-cash Financing and Investing Activities	(4) Non-cash Financing and Investing Activities For the years ended December 31, 2020 and 2019, there were no significant non-cash investing activities. For the year ended December 31, 2018, the Company had non-cash investing activities for the issuance of 163,137 shares of its Class A common stock related to acquisition purchases. The issuance had an approximate value of $12,282. For the year ended December 31, 2020, the Company had non-cash financing activities related to financing lease liabilities of $19,891. There were no significant non-cash financing activities during the years ended December 31, 2019 and 2018.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	(5) Property, Plant and Equipment Major categories of property, plant and equipment at December 31, 2020 and 2019 are as follows: Estimated Life (Years) 2020 2019 Land — $ 413,257 $ 406,884 Building and improvements 10 — 39 187,921 181,797 Advertising structures 5 — 15 2,880,521 2,926,706 Automotive and other equipment 3 — 7 133,806 144,924 $ 3,615,505 $ 3,660,311

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2020
Goodwill and Other Intangible Assets	(6) Goodwill and Other Intangible Assets The following is a summary of intangible assets at December 31, 2020 and 2019: Estimated 2020 2019 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable Intangible Assets: Customer lists and contracts 7 — 10 $ 645,739 $ 563,135 $ 641,714 $ 539,405 Non-competition agreements 3 — 15 66,156 64,647 66,014 64,379 Site locations 15 2,412,745 1,593,805 2,384,520 1,509,335 Other 2 — 15 50,018 38,625 49,864 36,749 $ 3,174,658 $ 2,260,212 $ 3,142,112 $ 2,149,868 Unamortizable Intangible Assets: Goodwill $ 2,165,864 $ 253,536 $ 2,165,810 $ 253,536 The changes in the gross carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows: Balance as of December 31, 2018 $ 2,172,922 Goodwill acquired during the year 29,360 Purchase price adjustments and other (36,472 ) Impairment losses — Balance as of December 31, 2019 $ 2,165,810 Goodwill acquired during the year — Purchase price adjustments and other 54 Impairment losses — Balance as of December 31, 2020 $ 2,165,864 Amortization expense for the years ended December 31, 2020, 2019 and 2018 was $110,201, $113,679 and $95,010, respectively. The following is a summary of the estimated amortization expense for future years: 2021 $ 106,816 2022 101,964 2023 91,133 2024 87,320 2025 83,959 Thereafter 443,254 Total $ 914,446
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Goodwill and Other Intangible Assets	(3) Goodwill and Other Intangible Assets The following is a summary of intangible assets at December 31, 2020 and 2019: Estimated 2020 2019 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable Intangible Assets: Customer lists and contracts 7—10 $ 645,739 $ 563,135 $ 641,714 $ 539,405 Non-competition agreement 3—15 66,156 64,647 66,014 64,379 Site locations 15 2,412,745 1,593,805 2,384,520 1,509,335 Other 2—15 49,472 38,547 49,318 36,671 $ 3,174,112 $ 2,260,134 $ 3,141,566 $ 2,149,790 Unamortizable Intangible Assets: Goodwill $ 2,154,844 $ 252,667 $ 2,154,790 $ 252,667 The changes in the gross carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows: Balance as of December 31, 2018 $ 2,161,902 Goodwill acquired during the year 29,360 Purchase price adjustments and other (36,472 ) Impairment losses — Balance as of December 31, 2019 2,154,790 Goodwill acquired during the year — Purchase price adjustments and other 54 Impairment losses — Balance as of December 31, 2020 $ 2,154,844

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	(7) Leases On January 1, 2019 the Company adopted ASC 842, Leases also elected the package of practical expedients, which permitted us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We also elected the practical expedient pertaining to land easements, which allows the Company not to reassess its accounting treatment for our previously existing land easements as to whether they qualify as a lease under ASC 842. The Company is party to various operating leases for production facilities, vehicles and sites upon which advertising structures are built, including our billboard land leases, leases of logo structures and leases of transit advertising space. The leases expire at various dates, have varying options to renew and cancel, and may contain escalation provisions. We expense our non-variable lease payments ratably over the lease term. Also, certain of our leases contain variable lease payments based on percentage of revenue or consumer price index or other inflation-based indices. The variable lease costs are expensed in the period incurred. Due to our election not to reassess conclusions about lease identification, as noted above, our transit agreements were accounted for as leases on January 1, 2019. As we enter into new or renew current transit agreements, those agreements will not likely meet the criteria of a lease under ASC 842, therefore they will no longer be accounted for as a lease. Financing lease right of use assets are amortized over the life of the lease which is recorded in depreciation and amortization on the consolidated statements of income and comprehensive income. Interest related to financing lease liabilities is recorded in interest expense on the consolidated statements of income and comprehensive income. The key estimates for our leases include (1) the discount rate used to discount the unpaid lease payment to present value and (2) lease term. Our leases generally do not include a readily determinable implicit rate, therefore, using a portfolio approach, we determine our collateralized incremental borrowing rate to discount the lease payment based on the information available at lease commencement. Our lease terms include the noncancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. The Company has determined we are not reasonably certain to exercise renewals or termination options, and as a result we use the lease’s initial stated term as the lease term for our lease population. During the year ended December 31, 2020, we had base operating lease costs of $298,135 and variable operating lease costs of $69,242, for a total operating lease cost of $367,377. During the year ended December 31, 2019, we had base operating lease costs of $312,883 and variable operating lease costs of $76,492, for a total operating lease cost of $389,375. During the year ended December 31, 2018, we had total operating lease costs of $381,890. Our operating lease costs are recorded in direct advertising expenses (exclusive of depreciation and amortization). Also, for the years ended December 31, 2020 and 2019, we recorded a gain of $451 and $4,061, respectively, in (gain) loss of disposition of assets related to the amendment and termination of lease agreements. Cash payments of $286,575 and $316,527 were made reducing our operating lease liabilities for the years ended December 31, 2020 and 2019, respectively, and are included in cash flows provided by operating activities in the 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 or lease liabilities for agreements with a term of twelve months or less. We recorded $4,953 and $4,691 in direct advertising expenses (exclusive of depreciation and amortization) for these agreements during the years ended December 31, 2020 and 2019, respectively. Our operating leases have a weighted-average remaining lease term of 11.8 years. The weighted-average discount rate of our operating leases is 4.7%. During the year ended December 31, 2020, we obtained $25,264 of leased assets in exchange for new operating lease liabilities, which includes liabilities obtained through acquisitions. Lease terminations during the year resulted in a $23,173 reduction to operating lease liabilities for the year ended December 31, 2020. The following is a summary of the maturities of our operating lease liabilities as of December 31, 2020: 2021 $ 228,135 2022 182,214 2023 162,163 2024 145,750 2025 122,384 Thereafter 757,576 Total undiscounted operating lease payments 1,598,222 Less: Imputed interest (409,007 ) Total operating lease liabilities $ 1,189,215 During the year ended December 31, 2020, we obtained $19,891 of leased assets in exchange for new financing lease liabilities. We had no financing lease liabilities for the year ended December 31, 2019. Our financing leases have a weighted-average remaining lease term of 6.9 years and a weighted-average discount rate of 3.1%. For the year ended December 31, 2020, amortization expense of $222 was recorded within depreciation and amortization and interest expense of $47 was recorded within interest expense, respectively, on the consolidated statements of income and comprehensive income in relation to these financing lease liabilities.

Accrued Expenses

Accrued Expenses	12 Months Ended
	Dec. 31, 2020
Accrued Expenses	(8) Accrued Expenses The following is a summary of accrued expenses at December 31, 2020 and 2019: 2020 2019 Payroll $ 17,034 $ 20,223 Interest 33,583 32,734 Insurance benefits 12,499 11,554 Accrued variable lease and contract expense 19,274 12,559 Stock-based compensation 11,589 23,297 Other 11,309 6,858 $ 105,288 $ 107,225
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Accrued Expenses	(4) Accrued Expenses The following is a summary of accrued expenses at December 31, 2020 and 2019: 2020 2019 Payroll $ 17,034 $ 20,223 Interest 33,583 32,734 Accrued variable lease and contract expense 19,274 12,559 Stock-based compensation 11,589 23,297 Other 16,998 12,453 $ 98,478 $ 101,266

Long-term Debt

Long-term Debt	12 Months Ended
	Dec. 31, 2020
Long-term Debt	(9) Long-term Debt Long-term debt consists of the following at December 31, 2020 and 2019: December 31, 2020 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 598,466 $ 11,569 $ 586,897 Accounts Receivable Securitization Program 122,500 445 122,055 3 3/4 600,000 8,031 591,969 4% Senior Notes 549,280 7,911 541,369 4 7/8 400,000 5,586 394,414 5 3/4 653,631 6,575 647,056 Other notes with various rates and terms 2,756 — 2,756 2,926,633 40,117 2,886,516 Less current maturities (122,879 ) (445 ) (122,434 ) Long-term debt, excluding current maturities $ 2,803,754 $ 39,672 $ 2,764,082 December 31, 2019 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,127,069 $ 9,077 $ 1,117,992 Accounts Receivable Securitization Program 175,000 846 174,154 5% Senior Subordinated Notes 535,000 3,237 531,763 5 3/8 510,000 3,502 506,498 5 3/4 654,345 7,752 646,593 Other notes with various rates and terms 3,118 — 3,118 3,004,532 24,414 2,980,118 Less current maturities (232,595 ) (6,081 ) (226,514 ) Long-term debt, excluding current maturities $ 2,771,937 $ 18,333 $ 2,753,604 Long-term debt contractual maturities are as follows: Debt Deferred financing costs Debt, net of deferred financing costs 2021 $ 122,879 $ 445 $ 122,434 2022 $ 362 $ — $ 362 2023 $ 381 $ — $ 381 2024 $ 400 $ — $ 400 2025 $ 420 $ 4,464 $ (4,044 ) Later years $ 2,802,191 $ 35,208 $ 2,766,983 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 new senior credit facility, as established by the Fourth Amended and Restated Credit Agreement (the “senior credit facility”), consists of (i) a new $750,000 senior secured revolving credit facility which will mature on February 6, 2025 (the “revolving credit facility”), (ii) a new $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 borrowing under the revolving portion of the senior credit facility and a portion of the proceeds of the issuance of the 3 3/4 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 B loans bear interest at a rate per annum equal to the Adjusted LIBO Rate plus 1.50%. Base Rate Term B 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. As of December 31, 2020, there were no outstanding borrowings 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 $13,970 in letters of credit outstanding as of December 31, 2020 resulting in $736,030 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 “Accounts Receivable Securitization Program”) with its wholly-owned special purpose entities, Lamar QRS Receivables, LLC and Lamar TRS Receivables, LLC (the “Special Purpose Subsidiaries”) maturing on December 17, 2021. The 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 30, 2020, Lamar Media and the Special Purpose Subsidiaries entered into the Third Amendment (the “Third Amendment”) to the Receivables Financing Agreement dated December 18, 2018. The Third Amendment increases the maximum three month average Delinquency Ratio, Dilution Ratio and Days’ Sales Outstanding to 11.00% (from 8.00%), 7.00% (from 4.00%) and 75 days (from 65 days), respectively, for each of the months of June, July and August 2020. The Third Amendment does not modify any other financial covenant. Additionally, the Third Amendment establishes a new Minimum Funding Threshold, which requires the Special Purpose Subsidiaries to maintain minimum borrowings under the Program on any day equal to the lesser of (i) 50.00% of the aggregate Commitment of all Lenders or (ii) the Borrowing Base, though the Special Purpose Subsidiaries had the right to borrow less than the Minimum Funding Threshold during certain periods prior to December 21, 2020 at their election. On October 23, 2020, Lamar Media and the Special Purpose Subsidiaries entered into the Fourth Amendment (the “Fourth Amendment”) to the Receivables Financing Agreement dated December 18, 2018. The Fourth Amendment increases the maximum three month average Delinquency Ratio generally to 13.00% (and up to 16.00% for up to two additional periods upon written notice from Lamar Media), and increases the maximum three month average Dilution Ratio to 5.00% for the remaining term of the Accounts Receivable Securitization Program. Additionally, the Fourth Amendment increases the Minimum Funding Threshold which, as amended, requires the Special Purpose Subsidiaries to maintain minimum borrowings under the Accounts Receivable Securitization Program on any day equal to the lesser of (i) 70.00% of the aggregate Commitment of all Lenders or (ii) the Borrowing Base, though the Special Purpose Subsidiaries had the right to borrow less than the Minimum Funding Threshold during certain periods prior to December 21, 2020 at their election. As of December 31, 2020 there was $122,500 outstanding aggregate borrowings under the Accounts Receivable Securitization Program. Lamar Media had an additional $52,500 available for borrowing under the Accounts Receivable Securitization Program as of December 31, 2020. The commitment fees based on the amount of unused commitments under the Accounts Receivable Securitization Program were immaterial during the year ended December 31, 2020. The Accounts Receivable Securitization Program will mature on December 17, 2021. 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 Consolidated Balance Sheets, (ii) our 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 Consolidated Statements of Cash Flows. 5% Senior Subordinated Notes On October 30, 2012, Lamar Media completed an institutional private placement of $535,000 aggregate principal amount of 5% Senior Subordinated Notes due 2023 (the “5% Notes”). The institutional private placement resulted in net proceeds to Lamar Media of approximately $527,100. On August 31, 2020, Lamar Media redeemed $267,500 in aggregate principal amount of the outstanding 5% Notes at a redemption price of 100.833%, plus accrued and unpaid interest up to but not including the redemption date. On September 16, 2020 Lamar Media redeemed the remaining aggregate principal amount of $267,500 of the outstanding 5% Notes at a redemption price of 100.833%, plus accrued and unpaid interest up to but not including the redemption date. These redemptions were funded using cash on hand, borrowings under the revolving credit facility and the Accounts Receivable Securitization Program and proceeds from the additional 4% Senior Notes issued on August 19, 2020. These redemptions combined resulted in a loss on debt extinguishment of $7,051, of which $4,456 was cash, for the year ended December 31, 2020. 5 3/8% Senior Notes On January 10, 2014, Lamar Media completed an institutional private placement of $510,000 aggregate principal amount of 5 3/8 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 On February 1, 2019, Lamar Media completed an institutional private placement of an additional $250,000 aggregate principal amount under its 5 3/4 the At any time prior to February 1, 2021, Lamar Media may redeem some or all of the 5 3/4% Senior Notes at a price equal to 100% of the aggregate principal amount, plus accrued and unpaid interest thereon plus a make-whole premium. On or after February 1, 2021, Lamar Media may redeem the 5 3/4% Senior Notes, in whole or in part, in cash at redemption prices specified in the 5 3/4% Senior Notes. In addition, if the Company or Lamar Media undergoes a change of control, Lamar Media may be required to make an offer to purchase each holder’s 5 3/4% Senior Notes at a price equal to 101% of the principal amount of the 5 3/4% Senior Notes, plus accrued and unpaid interest, up to but not including the repurchase date. On February 3, 2021, the Company subsequently redeemed in full all outstanding 5 3/4% Senior Notes. See Note 24 Subsequent Events 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 “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”). Other than with respect to the date of issuance and issue price, the Additional 4% Notes have the same terms as the 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 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% 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. Debt Repurchase Program On March 16, 2020, the Company’s Board of Directors authorized Lamar Media to repurchase up to $250,000 outstanding senior or senior subordinated notes and other indebtedness outstanding from time to time under its Fourth Amended and Restated Credit Agreement. The repurchase program will expire on September 30, 2021 unless extended by the Board of Directors. There were no repurchases under the program as of December 31, 2020.
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Long-term Debt	(5) Long-term Debt Long-term debt consists of the following at December 31, 2020 and 2019: December 31, 2020 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 598,466 $ 11,569 $ 586,897 Accounts Receivable Securitization Program 122,500 445 122,055 3 3/4% 600,000 8,031 591,969 4% Senior Notes 549,280 7,911 541,369 4 7/8% 400,000 5,586 394,414 5 3/4% 653,631 6,575 647,056 Other notes with various rates and terms 2,756 — 2,756 2,926,633 40,117 2,886,516 Less current maturities (122,879 ) (445 ) (122,434 ) Long-term debt, excluding current maturities $ 2,803,754 $ 39,672 $ 2,764,082 December 31, 2019 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,127,069 $ 9,077 $ 1,117,992 Accounts Receivable Securitization Program 175,000 846 174,154 5% Senior Subordinated Notes 535,000 3,237 531,763 5 3/8% 510,000 3,502 506,498 5 3/4% 654,345 7,752 646,593 Other notes with various rates and terms 3,118 — 3,118 3,004,532 24,414 2,980,118 Less current maturities (232,595 ) (6,081 ) (226,514 ) Long-term debt, excluding current maturities $ 2,771,937 $ 18,333 $ 2,753,604 Long-term debt contractual maturities are as follows: Debt Deferred financing costs Debt, net of deferred financing costs 2021 $ 122,879 $ 445 $ 122,434 2022 $ 362 $ — $ 362 2023 $ 381 $ — $ 381 2024 $ 400 $ — $ 400 2025 $ 420 $ 4,464 $ (4,044 ) Later years $ 2,802,191 $ 35,208 $ 2,766,983

Asset Retirement Obligation

Asset Retirement Obligation	12 Months Ended
	Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	(10) Asset Retirement Obligation The Company’s asset retirement obligation includes the costs associated with the removal of its structures, resurfacing of the land and retirement cost, if applicable, related to the Company’s outdoor advertising portfolio. The following table reflects information related to our asset retirement obligations: Balance at December 31, 2018 $ 222,989 Additions to asset retirement obligations 2,529 Accretion expense 4,260 Liabilities settled (3,641 ) Balance at December 31, 2019 $ 226,137 Additions to asset retirement obligations 658 Accretion expense 4,135 Liabilities settled (8,054 ) Balance at December 31, 2020 $ 222,876

Depreciation and Amortization

Depreciation and Amortization	12 Months Ended
	Dec. 31, 2020
Depreciation And Amortization [Abstract]
Depreciation and Amortization	(11) Depreciation and Amortization The Company includes all categories of depreciation and amortization on a separate line in its Consolidated Statements of Income and Comprehensive Income. The amounts of depreciation and amortization expense excluded from the following operating expenses in its Consolidated Statements of Income and Comprehensive Income are: Year Ended December 31, 2020 2019 2018 Direct expenses $ 236,054 $ 235,544 $ 212,585 General and administrative expenses 4,996 4,416 4,134 Corporate expenses 10,246 10,068 8,542 $ 251,296 $ 250,028 $ 225,261

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	(12) Income Taxes Commencing January 1, 2014, the Company began operating as a REIT for U.S. income tax purposes. Since operating as a REIT, the Company filed, and intends to continue to file, as a REIT, and its TRSs filed, and intend to continue to file, as C corporations. The Company also files tax returns in various states and countries. The Company’s state tax returns reflect different combinations of the Company’s subsidiaries and are dependent on the connection each subsidiary has with a particular state. The following information pertains to the Company’s income taxes on a consolidated basis. Income tax expense (benefit) consists of the following: Current Deferred Total Year ended December 31, 2020: U.S. federal $ 2,997 $ (45 ) $ 2,952 State and local 1,940 311 2,251 Foreign 520 (1,063 ) (543 ) $ 5,457 $ (797 ) $ 4,660 Year ended December 31, 2019: U.S. federal $ 6,045 $ (13,450 ) $ (7,405 ) State and local 2,699 (2,654 ) 45 Foreign 1,164 1,974 3,138 $ 9,908 $ (14,130 ) $ (4,222 ) Year ended December 31, 2018: U.S. federal $ 4,952 $ 435 $ 5,387 State and local 2,615 (123 ) 2,492 Foreign 1,592 1,226 2,818 $ 9,159 $ 1,538 $ 10,697 As of December 31, 2020 and 2019, the Company had income taxes payable of $4,707 and $384, respectively. The U.S. and foreign components of earnings before income taxes are as follows: 2020 2019 2018 U.S. $ 249,714 $ 357,445 $ 317,695 Foreign (1,668 ) 10,444 (1,766 ) Total $ 248,046 $ 367,889 $ 315,929 A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 21 percent to income before taxes for the 2020, 2019 and 2018 tax years is as follows: 2020 2019 2018 Income tax expense at U.S. federal statutory rate $ 52,090 $ 77,257 $ 66,345 Tax adjustment related to REIT (a) (50,395 ) (70,619 ) (63,669 ) State and local income taxes, net of federal income tax benefit 1,222 2,039 1,461 Book expenses not deductible for tax purposes 3,156 4,144 1,926 Stock-based compensation (2,033 ) (1,177 ) 1,090 Valuation allowance (b) (1,031 ) (1,032 ) 3,813 Rate change (c) (182 ) — (80 ) Undistributed earnings of foreign subsidiaries (d) (78 ) (102 ) (393 ) Deferred tax adjustment due to REIT conversion (e) — (17,031 ) — Other differences, net 1,911 2,299 204 Income tax expense (benefit) $ 4,660 $ (4,222 ) $ 10,697 (a) Includes dividend paid deduction of $52,985, $76,688 and $69,818 for the tax years ended December 31, 2020, 2019 and 2018, respectively. (b) For the years ended December 31, 2020, 2019 and 2018, a non-cash valuation allowance of $(1,031), $(1,032) and $3,813, respectively, was recorded to income tax expense due to our limited ability to utilize Puerto Rico deferred tax assets in future years. (c) Under Act 257 , the Puerto Rico corporate income tax rate was lowered from % to 37.5 %. As a result, a non-cash benefit of $ 182 to income tax expense was recorded for the reduction of the Puerto Rico net deferred tax liability for the year ended December 31, 20 20 . (d) Management does not assert that the undistributed earnings of our Canadian subsidiaries will be permanently reinvested. For the years ended December 31, 2020, 2019 and 2018, we recognized a deferred tax benefit of $78, $102 and $393, respectively, for future foreign withholding taxes related to undistributed earnings. (e ) The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and (liabilities) are presented below: 2020 2019 Deferred tax assets: Allowance for doubtful accounts $ 328 $ 499 Accrued liabilities not deducted for tax purposes 3,358 3,431 Net operating loss carry forwards 18,803 19,522 Tax credit carry forwards 693 1,140 Charitable contributions carry forward 4 5 Investment in partnerships 367 382 Gross deferred tax assets 23,553 24,979 Less: valuation allowance (20,997 ) (22,902 ) Net deferred tax assets 2,556 2,077 Deferred tax liabilities: Intangibles (5,443 ) (5,898 ) Property, plant and equipment (911 ) (701 ) Undistributed earnings of foreign subsidiaries (1,056 ) (1,191 ) Gross deferred tax liabilities (7,410 ) (7,790 ) Net deferred tax liabilities $ (4,854 ) $ (5,713 ) As of December 31, 2020, we have approximately $236,584 of U.S. net operating loss carry forwards to offset future taxable income. Of this amount, $38,250 is subject to Internal Revenue Code §382 limitation but will be available to be fully utilized by no later than 2027. These carry forwards expire between 2027 through 2037. In addition, we have $1,205 of various credits available to offset future U.S. federal income tax. Under the Tax Cuts and Jobs Act (“TCJA”), the corporate alternative minimum tax was repealed and our minimum tax credit carryforwards of $2,054 were fully refunded in 2020. As of December 31, 2020, we have approximately $991,054 of state net operating loss carry forwards before valuation allowances. These state net operating losses are available to reduce future taxable income and expire at various times and amounts. In addition, we have $117 of various credits available to offset future state income tax. The valuation allowance related to state net operating loss carry forwards as of December 31, 2020 and 2019 was $321 and $0, respectively. The net changes in the total state valuation allowance for the years ended December 31, 2020 and 2019 was an increase of $320 and $0, respectively. As of December 31, 2020, we had approximately $44,207 of Puerto Rico net operating loss carry forwards before valuation allowances. These Puerto Rico net operating losses are available to offset future taxable income. These carry forwards expire between 2021 and 2029. In addition, we have $179 of alternative minimum tax credits available to offset future Puerto Rico income tax. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in those jurisdictions during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carry back and carry forward periods), projected future taxable income, and tax-planning strategies in making this assessment. In order to fully realize the deferred tax assets, the Company will need to generate future taxable income before the expiration of the carry forwards governed by the tax code. Based on the current level of pretax earnings, the Company will not generate the minimum amount of future taxable income to support the realization of the deferred tax assets. As a result, management has determined that a valuation allowance related to Puerto Rico net operating loss carry forwards and other deferred tax assets is necessary. The valuation allowance for these deferred tax assets as of December 31, 20 20 and 201 9 was $ 20,676 and $ , respectively. The net change in the total valuation allowance for the years ended December 31, 20 20 and 201 9 was a decrease of $ 2,226 and $ 1,032 , respectively. The amount of the deferred tax asset considered realizable, however, could be adjusted in the near term if estimates of future taxable income during the carry forward period increase. As of December 31, 2020, the Company has accumulated undistributed earnings generated by our foreign subsidiaries of approximately $21,126. Management does not designate these earnings as permanently reinvested and has recognized a deferred tax liability of approximately $1,056 related to foreign withholding taxes on these earnings. We have recognized a current year tax benefit of $152 related to 2020 earnings. Under ASC 740 Income Taxes Balance as of December 31, 2018 $ 3,207 Additions for tax positions related to current year 974 Additions for tax positions related to prior years 386 Reductions for tax positions related to prior years — Lapse of statute of limitations (117 ) Settlements — Balance as of December 31, 2019 $ 4,450 Additions for tax positions related to current year 862 Additions for tax positions related to prior years 667 Reductions for tax positions related to prior years — Lapse of statute of limitations (1,013 ) Settlements — Balance as of December 31, 2020 $ 4,966 Included in the balance of unrecognized benefits at December 31, 2020 is $4,966 of tax benefits that, if recognized in future periods, would impact our effective tax rate. During the years ended December 31, 2020 and 2019, we recognized interest and penalties of $173 and $334, respectively, as a component of income tax expense in connection with our liabilities related to uncertain tax positions. Within the next twelve months, we expect to decrease our unrecognized tax benefits by approximately $1,340 as a result of the expiration of statute of limitations. We are subject to income taxes in the U.S. and nearly all states. In addition, the Company is subject to income taxes in Canada and the Commonwealth of Puerto Rico. We are no longer subject to U.S federal income tax examinations by tax authorities for years prior to 2017, or for any U.S. state income tax audit prior to 2014. With respect to Canada and Puerto Rico, we are no longer subject to income tax audits for years before 2017 and 2016, respectively.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions	(13) Related Party Transactions Affiliates, as used within these statements, are persons or entities that are affiliated with Lamar Advertising Company or its subsidiaries through common ownership and directorate control. RTC Holdings, LLC (“RTC”), a telecommunications company, is 100% owned by entities owned by members of the Reilly family. Entities owned by Sean E. Reilly, President and Chief Executive Officer of the Company; Kevin P. Reilly, Jr., Executive Chairman of the Board of Directors; and members of their respective immediate families hold a majority stake in RTC of approximately 89%. The Reilly Family, LLC, which is owned by Sean E. Reilly, Kevin P. Reilly, Jr., members of our Board of Directors Anna Reilly and Wendell Reilly, and entities owned by each of them and members of their respective immediate families, holds the remaining minority stake in RTC of approximately 11%. On May 31, 2019, RTC acquired EATELCORP, LLC (“EATEL”) and its subsidiaries. EATEL provides phone and internet services to consumers and businesses in Louisiana. EATEL also provides data back-up and recovery services to businesses. During the year s ended December 31, 2020 and 2019, the Company was a customer of EATEL for data back-up and recovery services. The aggregate amount paid by the Company to EATEL for such services was $ 311 and $ 302 for the year s ended December 31, 2020 and 2019 , respectively . The Company was also contracted by EATEL to provide advertising services in the aggregate amount of $ 134 and $ 137 for the year s ended December 31, 2020 and 2019 , respectively . The Company had no receivables from employees or executive officers at December 31, 2020 and 2019.
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Related Party Transactions	(6) Related Party Transactions Affiliates, as used within these statements, are persons or entities that are affiliated with Lamar Media Corp. or its subsidiaries through common ownership and directorate control. As of December 31, 2020 and 2019, there was a payable to Lamar Advertising Company, its parent, in the amount of $3,928 and $4,779, respectively. Effective December 31, 2020 and 2019, Lamar Advertising Company contributed $41,628 and $69,822, respectively, to Lamar Media which resulted in an increase in Lamar Media’s additional paid-in capital.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	(14) Stockholders’ Equity On July 16, 1999, the Board of Directors designated 5,720 shares of the 1,000,000 shares of previously undesignated preferred stock, par value $.001, as Series AA preferred stock, which shares were subsequently exchanged on a one for one basis in the REIT conversion. The Series AA preferred stock ranks senior to the Class A common stock and Class B common stock with respect to dividends and upon liquidation. Holders of Series AA preferred stock are entitled to receive, on a pari passu basis, dividends at the rate of $15.95 per share per quarter when, as and if declared by the Board of Directors. The Series AA preferred stock is entitled to receive, on a pari passu basis, $638 plus a further amount equal to any dividend accrued and unpaid to the date of distribution before any payments are made or assets distributed to the Class A common stock or Class B stock upon voluntary or involuntary liquidation, dissolution or winding up of the Company. The liquidation value of the outstanding Series AA preferred stock at December 31, 2020 was $3,649. The Series AA preferred stock is entitled to one vote per share. All of the outstanding shares of common stock are fully paid and nonassessable. In the event of the liquidation or dissolution of the Company, following any required distribution to the holders of outstanding shares of preferred stock, the holders of common stock are entitled to share pro rata in any balance of the corporate assets available for distribution to them. The Company may pay dividends if, when and as declared by the Board of Directors from funds legally available therefore, subject to the restrictions set forth in the Company’s existing indentures and the senior credit facility. Subject to the preferential rights of the holders of any class of preferred stock, holders of shares of common stock are entitled to receive such dividends as may be declared by the Company’s Board of Directors out of funds legally available for such purpose. No dividend may be declared or paid in cash or property on any share of either class of common stock unless simultaneously the same dividend is declared or paid on each share of the other class of common stock, provided that, in the event of stock dividends, holders of a specific class of common stock shall be entitled to receive only additional shares of such class. The rights of the Class A and Class B common stock are equal in all respects, except holders of Class B common stock have ten votes per share on all matters in which the holders of common stock are entitled to vote and holders of Class A common stock have one vote per share on such matters. The Class B common stock will convert automatically into Class A common stock upon the sale or transfer to persons other than permitted transferees (as defined in the Company’s certificate of incorporation, as amended). On May 1, 2018, the Company entered into an equity distribution agreement (the “Sales Agreement”) with J.P. Morgan Securities LLC, Wells Fargo Securities LLC, and SunTrust Robinson Humphrey, Inc. as its sales agents (each a “Sales Agent”, and collectively, the “Sales Agents”). Under the terms of the Sales Agreement, the Company may, from time to time, issue and sell shares of its Class A common stock, par value $0.001 per share (the “Class A Common Stock”), having an aggregate offering price of up to $400,000, through the Sales Agents as either agents or principals. As of December 31, 2020, 842,412 shares of our Class A Common Stock have been sold under the Sales Agreement and accordingly $336,668 remains available to be sold under the Sales Agreement. Sales of the Class A Common Stock, if any, may be made in negotiated transactions or transactions that are deemed to be “at-the-market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Global Select Market and any other existing trading market for the Class A Common Stock, or sales made to or through a market maker other than on an exchange. The Company has no obligation to sell any of the Class A Common Stock under the Sales Agreement and may at any time suspend solicitations and offers under the Sales Agreement. On August 6, 2018, the Company filed an automatically effective shelf registration statement that registered the offer and sale of an indeterminate amount of additional shares of our Class A common stock. During the year ended December 31, 2018, the Company issued 163,137 shares of its Class A common stock in connection with acquisitions occurring during the period. The Company filed a prospectus supplement to the shelf registration statement relating to the offer and resale of such shares of Class A common stock. There were no shares issued under this shelf registration during the years ended December 31, 2020 and 2019. 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. The repurchase program will expire on September 30, 2021 unless extended by the Board of Directors. There were no repurchases under the program as of December 31, 2020

Stock Compensation Plans

Stock Compensation Plans	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Compensation Plans	(15) Stock Compensation Plans Equity Incentive Plan. Lamar’s 1996 Equity Incentive Plan, as amended, (the “1996 Plan”) has reserved 17.5 million shares of common stock for issuance to directors and employees, including options granted and common stock reserved for issuance under its performance-based incentive program. Options granted under the 1996 Plan expire ten years from the grant date with vesting terms ranging from three to five years which primarily includes 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date. All grants are made at fair market value based on the closing price of our Class A common stock as reported on the NASDAQ Global Select Market on the date of grant. In February 2013, the 1996 Plan was amended to eliminate the provision that limited the amount of Class A common stock, including shares retained from an award, that could be withheld to satisfy tax withholding obligations to the minimum tax obligations required by law (except with respect to option awards). In accordance with ASC 718, Compensation – Stock Compensation We use a Black-Scholes-Merton option pricing model to estimate the fair value of share-based awards. The Black-Scholes-Merton option pricing model incorporates various highly subjective assumptions, including expected term and expected volatility. We have reviewed our historical pattern of option exercises and have determined that meaningful differences in option exercise activity existed among vesting schedules. Therefore, for all stock options granted after January 1, 2006, we have categorized these awards into two groups of vesting 1) 5-year cliff vest and 2) 4-year graded vest, for valuation purposes. We have determined there were no meaningful differences in employee activity under our ESPP due to the nature of the plan. We estimate the expected term of options granted using an implied life derived from the results of a hypothetical mid-point settlement scenario, which incorporates our historical exercise, expiration and post-vesting employment termination patterns, while accommodating for partial life cycle effects. We believe these estimates will approximate future behavior. We estimate the expected volatility of our Class A common stock at the grant date using a blend of 90% historical volatility of our Class A common stock and 10% implied volatility of publicly traded options with maturities greater than six months on our Class A common stock as of the option grant date. Our decision to use a blend of historical and implied volatility was based upon the volume of actively traded options on our common stock and our belief that historical volatility alone may not be completely representative of future stock price trends. Our risk-free interest rate assumption is determined using the Federal Reserve nominal rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. We assumed an expected dividend yield of 5%. We estimate option forfeitures at the time of grant and periodically revise those estimates in subsequent periods if actual forfeitures differ from those estimates. We record stock based compensation expense only for those awards expected to vest using an estimated forfeiture rate based on our historical forfeiture data. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used: Grant Year Dividend Yield Expected Volatility Risk Free Interest Rate Expected Lives 2020 5% 45% 2% 6 2019 5% 46% 2% 6 2018 5% 46% 2% 6 Information regarding the 1996 Plan for the year ended December 31, 2020 is as follows: Shares Weighted Average Exercise Price Weighted Average Contractual Life Outstanding, beginning of year 608,375 $ 57.97 Granted 63,500 71.91 Exercised (61,949 ) 50.66 Forfeited — — Expired (11,000 ) 50.81 Outstanding, end of year 598,926 60.34 5.42 Exercisable at end of year 422,626 55.06 4.25 At December 31, 2020 there was $2,544 of unrecognized compensation cost related to stock options granted which is expected to be recognized over a weighted-average period of 1.62 years. Shares available for future stock option and restricted share grants to employees and directors under existing plans were 2,435,451 at December 31, 2020. The aggregate intrinsic value of options outstanding as of December 31, 2020 was $13,824, and the aggregate intrinsic value of options exercisable was $11,927. Total intrinsic value of options exercised was $1,644 for the year ended December 31, 2020. Stock Purchase Plan. Lamar Advertising’s 2009 Employee Stock Purchase Plan (the “2009 ESPP”), approved by our shareholders on May 28, 2009, expired by its terms on June 30, 2019. On May 30, 2019, our shareholders approved Lamar Advertising’s 2019 Employee Stock Purchase Plan (the “2019 ESPP”). The 2019 ESPP became effective upon the expiration of the 2009 ESPP. The number of shares of Class A common stock available for issuance under the 2019 ESPP was automatically increased by 86,093 shares on January 1, 2020 pursuant to the automatic increase provisions of the 2019 ESPP. The following is a summary of 2019 ESPP share activity for the year ended December 31, 2020: Shares Available for future purchases, January 1, 2020 438,434 Additional shares reserved under 2019 ESPP 86,093 Purchases (154,756 ) Available for future purchases, December 31, 2020 369,771 Performance-based compensation. Unrestricted shares of our Class A common stock may be awarded to key officers and employees under our 1996 Plan based on certain Company performance measures for fiscal year 2020. The number of shares to be issued, if any, are dependent on the level of achievement of these performance measures as determined by the Company’s Compensation Committee based on our 2020 results and were issued in the first half of 2021. The shares subject to these awards generally can range from a minimum of 0% to a maximum of either 100% of the target number of shares or 150% of a target dollar amount depending on the level at which the goals are attained. Based on the Company’s performance measures achieved through December 31, 2020, the Company has accrued $10,484 as compensation expense related to these agreements.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2020
Compensation And Retirement Disclosure [Abstract]
Benefit Plans	(16) Benefit Plans The Company sponsors a partially self-insured group health insurance program. The Company is obligated to pay all claims under the program, which are in excess of premiums, up to program limits. The Company is also self-insured with respect to its income disability benefits and against casualty losses on advertising structures. Amounts for expected losses, including a provision for losses incurred but not reported, is included in accrued expenses in the accompanying consolidated financial statements. As of December 31, 2020, the Company maintained $8,228 in letters of credit with a bank to meet requirements of the Company’s worker’s compensation and general liability insurance carrier. Savings and Profit Sharing Plan The Company sponsors The Lamar Corporation Savings and Profit Sharing Plan covering eligible employees who have completed one year of service and are at least 21 years of age. The Company has the option to match 50% of employees’ contributions up to 5% of eligible compensation. Employees can contribute up to 100% of compensation. Full vesting on the Company’s matched contributions occurs after three years for contributions made after January 1, 2002. Annually, at the Company’s discretion, an additional profit sharing contribution may be made on behalf of each eligible employee. The Company matched contributions of $5,714, $5,688 and $4,966 for the years ended December 31, 2020, 2019 and 2018, respectively. Deferred Compensation Plan The Company sponsors a Deferred Compensation Plan for the benefit of certain of its board-elected officers who meet specific age and years of service and other criteria. Officers that have attained the age of 30 and have a minimum of 10 years of service to the Company and satisfy additional eligibility guidelines are eligible for annual contributions to the plan generally ranging from $3 to $8, depending on the employee’s length of service. The Company’s contributions to the plan are maintained in a rabbi trust and, accordingly, the assets and liabilities of the plan are reflected in the balance sheet of the Company in other assets and other liabilities. Upon termination, death or disability, participating employees are eligible to receive an amount equal to the fair market value of the assets in the employee’s deferred compensation account. For the years ended December 31, 2020, 2019 and 2018, the Company contributed $1,616, $1,675 and $1,585, respectively. On December 8, 2005, the Company’s Board of Directors approved an amendment to the Lamar Deferred Compensation Plan in order to (1) to comply with the requirements of Section 409A of the Internal Revenue Code (“Section 409A”) applicable to deferred compensation and (2) to reflect changes in the administration of the plan. The Company’s Board of Directors also approved the adoption of a grantor trust pursuant to which amounts may be set aside, but remain subject to claims of the Company’s creditors, for payments of liabilities under the new plan, including amounts contributed under the old plan. The plan was further amended in August 2007 to make certain amendments to reflect Section 409A regulations issued on April 10, 2007. An additional clarifying amendment was made to the plan in December 2013.

Commitment and Contingencies

Commitment and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitment and Contingencies	(17) Commitment and Contingencies Off balance sheet arrangements Our off-balance sheet commitments consist of guaranteed minimum payments to local transit municipalities and airport authorities for agreements which entitle us to rent advertising space to customers, in airports and on buses, benches or shelters. These agreements no longer meet the criteria of a lease under ASC 842, Leases 2021 $ 30,775 2022 $ 26,640 2023 $ 19,357 2024 $ 16,247 2025 $ 12,679 Thereafter $ 4,515 Legal matters The Company is involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, or liquidity.

Distribution Restrictions

Distribution Restrictions	12 Months Ended
	Dec. 31, 2020
Distribution Restrictions [Abstract]
Distribution Restrictions	(18) 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 December 31, 2020 and 2019, Lamar Media was permitted under the terms of its outstanding senior subordinated and senior notes to make transfers to Lamar Advertising in the form of cash dividends, loans or advances in amounts up to $ and $ , respectively. As of December 31, 2020, 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 December 31, 2020, 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 December 31, 2020, 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 $2,376,192.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	(19) Fair Value of Financial Instruments At December 31, 2020 and 2019, the Company’s financial instruments included cash and cash equivalents, marketable securities, accounts receivable, investments, accounts payable and borrowings. The fair values of cash and cash equivalents, accounts receivable, accounts payable and short-term borrowings and current portion of long-term debt approximated carrying values because of the short-term nature of these instruments. Investments and initial recognition of asset retirement obligations are reported at fair values. Fair values for investments held at cost are not readily available, but are estimated to approximate fair value. The estimated fair value of the Company’s long term debt (including current maturities) was $2,979,266, which is greater than both the gross and carrying amount of $2,926,633 as of December 31, 2020. 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).

Information about Geographic Ar

Information about Geographic Areas	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Information about Geographic Areas	(20) Information about Geographic Areas Revenues from external customers attributable to foreign countries totaled $22,819, $34,517 and $35,146 for the years ended December 31, 2020, 2019 and 2018, respectively. Net carrying value of long lived assets located in foreign countries totaled $8,727 and $4,549 as of December 31, 2020 and 2019, respectively. All other revenues from external customers and long lived assets relate to domestic operations.

New Accounting Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2020
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
New Accounting Pronouncements	(21) New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326 ) – Measurement of Credit Losses on Financial Instruments, and additional changes modifications, clarifications, or interpretations related to this guidance thereafter, which require a reporting entity to estimate credit losses on certain types of financial instruments, and present assets held at amortized cost and available-for-sale debt securities at the amount expected to be collected. The new guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this guidance on January 1, 2020 and the impact of the adoption was not material to the Company’s consolidated financial statements. As of December 31, 2020, our allowance for credit losses considered the current and future impacts caused by the COVID-19 pandemic, based on available information to date. The Company will continue to actively monitor the impact of COVID-19 on expected credit losses.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2020
Quarterly Financial Data (Unaudited)	(22) Quarterly Financial Data (Unaudited) The tables below represent the balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2020 and 2019. Year 2020 Quarters March 31 June 30 September 30 December 31 Net revenues $ 406,569 $ 347,652 $ 386,110 $ 428,525 Net revenues less direct advertising expenses $ 257,075 $ 213,593 $ 249,801 $ 290,726 Net income applicable to common stock $ 40,402 $ 31,338 $ 62,667 $ 108,614 Net income per common share basic $ 0.40 $ 0.31 $ 0.62 $ 1.08 Net income per common share diluted $ 0.40 $ 0.31 $ 0.62 $ 1.08 Year 2019 Quarters March 31 June 30 September 30 December 31 Net revenues $ 384,457 $ 448,742 $ 457,786 $ 462,659 Net revenues less direct advertising expenses $ 243,987 $ 302,352 $ 308,940 $ 308,287 Net income applicable to common stock $ 51,162 $ 118,305 $ 99,618 $ 102,661 Net income per common share basic $ 0.51 $ 1.18 $ 0.99 $ 1.02 Net income per common share diluted $ 0.51 $ 1.18 $ 0.99 $ 1.02
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Quarterly Financial Data (Unaudited)	(7) Quarterly Financial Data (Unaudited) The tables below represent the balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2020 and 2019. Year 2020 Quarters March 31 June 30 September 30 December 31 Net revenues $ 406,569 $ 347,652 $ 386,110 $ 428,525 Net revenues less direct advertising expenses $ 257,075 $ 213,593 $ 249,801 $ 290,726 Net income $ 40,617 $ 31,534 $ 62,895 $ 108,827 Year 2019 Quarters March 31 June 30 September 30 December 31 Net revenues $ 384,457 $ 448,742 $ 457,786 $ 462,659 Net revenues less direct advertising expenses $ 243,987 $ 302,352 $ 308,940 $ 308,287 Net income $ 51,362 $ 118,485 $ 99,832 $ 102,861

Divestiture of Assets

Divestiture of Assets	12 Months Ended
	Dec. 31, 2020
Assets Of Disposal Group Including Discontinued Operation [Abstract]
Divestiture of Assets	(23) Divestiture of Assets On April 16, 2018 the Company sold its assets in Puerto Rico for $3,000 in cash and non-cash consideration consisting of a note receivable for $9,250 due April 2024. The Company recorded a loss on the sale of $7,809 for the year ended December 31, 2018. There were no significant divestitures of assets for the years ended December 31, 2020 and 2019.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	(24) Subsequent Events On January 22, 2021, Lamar Media issued, through an institutional private placement, $550,000 in aggregate principal amount of 3 5/8% Senior Notes due 2031 (the “3 5/8% Senior Notes”). The issuance of the 3 5/8% Senior Notes resulted in net proceeds to Lamar Media of approximately $542,500. Lamar Media used the proceeds of this offering, together with cash on hand and borrowings under its senior secured revolving credit facility and Accounts Receivable Securitization Program, to redeem all of its outstanding $650,000 aggregate principal amount 5 3/4% Senior Notes due 2026 on February 3, 2021.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II LAMAR ADVERTISING COMPANY AND SUBSIDIARIES Valuation and Qualifying Accounts Years Ended December 31, 2020, 2019 and 2018 (In thousands) Balance at Beginning of Period Charged to Costs and Expenses Deductions Balance at End of Period Year ended December 31, 2020 Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts $ 13,185 12,729 10,968 $ 14,946 Deducted in balance sheet from deferred tax assets: Valuation allowance $ 22,902 — 1,905 $ 20,997 Year ended December 31, 2019 Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts $ 11,161 11,608 9,584 $ 13,185 Deducted in balance sheet from deferred tax assets: Valuation allowance $ 23,934 — 1,032 $ 22,902 Year ended December 31, 2018 Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts $ 10,055 8,472 7,366 $ 11,161 Deducted in balance sheet from deferred tax assets: Valuation allowance $ 20,120 3,814 — $ 23,934
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Schedule II - Valuation and Qualifying Accounts	SCHEDULE II LAMAR MEDIA CORP. AND SUBSIDIARIES Valuation and Qualifying Accounts Years Ended December 31, 2020, 2019 and 2018 (In thousands) Balance at Beginning of Period Charged to Costs and Expenses Deductions Balance at End of Period Year ended December 31, 2020 Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts $ 13,185 12,729 10,968 $ 14,946 Deducted in balance sheet from deferred tax assets: Valuation allowance $ 22,902 — 1,905 $ 20,997 Year ended December 31, 2019 Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts $ 11,161 11,608 9,584 $ 13,185 Deducted in balance sheet from deferred tax assets: Valuation allowance $ 23,934 — 1,032 $ 22,902 Year ended December 31, 2018 Deducted in balance sheet from trade accounts receivable: Allowance for doubtful accounts $ 10,055 8,472 7,366 $ 11,161 Deducted in balance sheet from deferred tax assets: Valuation allowance $ 20,120 3,814 — $ 23,934

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
Schedule III - Real Estate and Accumulated Depreciation	LAMAR ADVERTISING COMPANY AND SUBSIDIARIES Schedule of Real Estate and Accumulated Depreciation December 31, 2020, 2019 and 2018 (In thousands) Description ( 1) Encumbrances Initial Cost ( 2) Gross Carrying Amount ( 3) Accumulated Depreciation Construction Date Acquisition Date Useful Lives 354,571 Displays — — $ 3,293,778 $ (2,192,700 ) Various Various 5 to 20 years (1) No single asset exceeded 5% of the total gross carrying amount at December 31, 2020 (2) This information is omitted, as it would be impracticable to compile such information on a site-by-site basis (3) Includes sites under construction The following table summarizes activity for the Company’s real estate assets, which consists of advertising displays and the related accumulated depreciation. December 31, December 31, December 31, 2020 2019 2018 Gross real estate assets: Balance at the beginning of the year $ 3,333,590 $ 3,201,434 $ 3,074,046 Capital expenditures on new advertising displays ( 4) 21,598 59,604 54,151 Capital expenditures on improvements/redevelopments of existing advertising displays 13,021 25,025 12,781 Capital expenditures other recurring 12,631 36,354 34,758 Land acquisitions ( 6) 8,980 22,965 15,368 Acquisition of advertising displays ( 5) (6) 4,446 23,589 82,617 Assets sold or written-off (100,906 ) (35,320 ) (70,494 ) Foreign exchange 418 (61 ) (1,793 ) Balance at the end of the year $ 3,293,778 $ 3,333,590 $ 3,201,434 Accumulated depreciation: Balance at the beginning of the year $ 2,166,579 $ 2,082,335 $ 2,025,251 Depreciation 111,049 111,531 106,700 Assets sold or written-off (85,267 ) (27,890 ) (48,488 ) Foreign exchange 339 603 (1,128 ) Balance at the end of the year $ 2,192,700 $ 2,166,579 $ 2,082,335 (4) Includes non-cash amounts of $621, $554 and $446 at December 31, 2020, 2019 and 2018, respectively (5) Includes non-cash amounts $1,928 and $7,199 at December 31, 2019 and 2018, respectively (6) Includes preliminary allocation of assets acquired from Fairway at December 31, 2018
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Schedule III - Real Estate and Accumulated Depreciation	LAMAR MEDIA CORP. AND SUBSIDIARIES Schedule of Real Estate and Accumulated Depreciation December 31, 2020, 2019 and 2018 (In thousands) Description ( 1) Encumbrances Initial Cost ( 2) Gross Carrying Amount ( 3) Accumulated Depreciation Construction Date Acquisition Date Useful Lives 354,571 Displays — — $ 3,293,778 $ (2,192,700 ) Various Various 5 to 20 years (1) No single asset exceeded 5% of the total gross carrying amount at December 31, 2020 (2) This information is omitted, as it would be impracticable to compile such information on a site-by-site basis (3) Includes sites under construction The following table summarizes activity for the Company’s real estate assets, which consists of advertising displays and the related accumulated depreciation. December 31, 2020 December 31, 2019 December 31, 2018 Gross real estate assets: Balance at the beginning of the year $ 3,333,590 $ 3,201,434 $ 3,074,046 Capital expenditures on new advertising displays ( 4) 21,598 59,604 54,151 Capital expenditures on improvements/redevelopments of existing advertising displays 13,021 25,025 12,781 Capital expenditures other recurring 12,631 36,354 34,758 Land acquisitions ( 6) 8,980 22,965 15,368 Acquisition of advertising displays ( 5)(6) 4,446 23,589 82,617 Assets sold or written-off (100,906 ) (35,320 ) (70,494 ) Foreign exchange 418 (61 ) (1,793 ) Balance at the end of the year $ 3,293,778 $ 3,333,590 $ 3,201,434 Accumulated depreciation: Balance at the beginning of the year $ 2,166,579 $ 2,082,335 $ 2,025,251 Depreciation 111,049 111,531 106,700 Assets sold or written-off (85,267 ) (27,890 ) (48,488 ) Foreign exchange 339 603 (1,128 ) Balance at the end of the year $ 2,192,700 $ 2,166,579 $ 2,082,335 (4) Includes non-cash amounts of $621, $554 and $446 at December 31, 2020, 2019 and 2018, respectively (5) Includes non-cash amounts of $1,928 and $7,199 at December 31, 2019 and 2018, respectively (6) Includes preliminary allocation of assets acquired from Fairway at December 31, 2018

Non-cash Financing Activities

Non-cash Financing Activities	12 Months Ended
	Dec. 31, 2020
Non-cash Financing and Investing Activities	(4) Non-cash Financing and Investing Activities For the years ended December 31, 2020 and 2019, there were no significant non-cash investing activities. For the year ended December 31, 2018, the Company had non-cash investing activities for the issuance of 163,137 shares of its Class A common stock related to acquisition purchases. The issuance had an approximate value of $12,282. For the year ended December 31, 2020, the Company had non-cash financing activities related to financing lease liabilities of $19,891. There were no significant non-cash financing activities during the years ended December 31, 2019 and 2018.
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Non-cash Financing and Investing Activities	(2) Non-cash Financing Activities During the year ended December 31, 2020, the Company had non-cash financing activities related to financing lease liabilities of $19,891. There were no significant non-cash financing activities during the years ended December 31, 2019 and 2018.

Summarized Financial Informatio

Summarized Financial Information of Subsidiaries	12 Months Ended
	Dec. 31, 2020
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Summarized Financial Information of Subsidiaries	(8) Summarized Financial Information of Subsidiaries Separate condensed consolidating financial information for Lamar Media, subsidiary guarantors and non-guarantor subsidiaries are presented below. Lamar Media and its subsidiary guarantors have fully and unconditionally guaranteed Lamar Media’s obligations with respect to its publicly issued notes. All guarantees are joint and several. As a result of these guarantee arrangements, we are required to present the following condensed consolidating financial information. The following condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes. The condensed consolidating financial information is provided as an alternative to providing separate financial statements for guarantor subsidiaries. Separate financial statements of Lamar Media’s subsidiary guarantors are not included because the guarantees are full and unconditional and the subsidiary guarantors are 100% owned and jointly and severally liable for Lamar Media’s outstanding publicly issued notes. The accounts for all companies reflected herein are presented using the equity method of accounting for investments in subsidiaries. Condensed Consolidating Balance Sheet as of December 31, 2020 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 110,678 $ 19,471 $ 249,921 $ — $ 380,070 Net property, plant and equipment — 1,268,765 13,084 — 1,281,849 Operating lease right of use assets — 1,200,115 21,898 — 1,222,013 Intangibles and goodwill, net — 2,798,343 17,812 — 2,816,155 Other assets 3,912,122 258,433 132,448 (4,228,383 ) 74,620 Total assets $ 4,022,800 $ 5,545,127 $ 435,163 $ (4,228,383 ) $ 5,774,707 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ — $ 379 $ 122,055 $ — $ 122,434 Current operating lease liabilties — 188,712 6,727 — 195,439 Other current liabilities 33,583 170,320 19,286 — 223,189 Total current liabilities 33,583 359,411 148,068 — 541,062 Long-term debt 2,761,705 2,377 — — 2,764,082 Operating lease liabilities — 979,785 13,991 — 993,776 Other noncurrent liabilities 34,668 245,891 266,968 (264,584 ) 282,943 Total liabilities 2,829,956 1,587,464 429,027 (264,584 ) 4,581,863 Stockholders’ equity 1,192,844 3,957,663 6,136 (3,963,799 ) 1,192,844 Total liabilities and stockholders’ equity $ 4,022,800 $ 5,545,127 $ 435,163 $ (4,228,383 ) $ 5,774,707 Condensed Consolidating Balance Sheet as of December 31, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 13,859 $ 53,756 $ 242,054 $ — $ 309,669 Net property, plant and equipment — 1,340,675 8,440 — 1,349,115 Operating lease right of use assets — 1,293,674 27,105 — 1,320,779 Intangibles and goodwill, net — 2,875,644 18,255 — 2,893,899 Other assets 4,193,629 229,905 184,805 (4,557,380 ) 50,959 Total assets $ 4,207,488 $ 5,793,654 $ 480,659 $ (4,557,380 ) $ 5,924,421 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ 51,480 $ 34 $ 175,000 $ — $ 226,514 Current operating lease liabilities — 189,071 7,770 — 196,841 Other current liabilities 26,960 196,689 19,845 — 243,494 Total current liabilities 78,440 385,794 202,615 — 666,849 Long-term debt 2,753,570 34 — — 2,753,604 Operating lease liabilities — 1,049,220 18,961 — 1,068,181 Other noncurrent liabilities 205,947 231,416 250,859 (421,966 ) 266,256 Total liabilities 3,037,957 1,666,464 472,435 (421,966 ) 4,754,890 Stockholders’ equity 1,169,531 4,127,190 8,224 (4,135,414 ) 1,169,531 Total liabilities and stockholders’ equity $ 4,207,488 $ 5,793,654 $ 480,659 $ (4,557,380 ) $ 5,924,421 Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2020 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income Net revenues $ — $ 1,536,534 $ 33,965 $ (1,643 ) $ 1,568,856 Operating expenses Direct advertising expenses (1) — 533,803 25,501 (1,643 ) 557,661 General and administrative expenses (1) — 281,293 6,581 — 287,874 Corporate expenses (1) — 69,478 979 — 70,457 Depreciation and amortization — 249,299 1,997 — 251,296 (Gain) loss on disposition of assets — (9,036 ) 10 — (9,026 ) — 1,124,837 35,068 (1,643 ) 1,158,262 Operating income — 411,697 (1,103 ) — 410,594 Loss on debt extinguishment 25,235 — — — 25,235 Equity in (earnings) loss of subsidiaries (404,332 ) — — 404,332 — Interest expense (income), net 135,224 (175 ) 1,777 — 136,826 Income (loss) before income tax expense 243,873 411,872 (2,880 ) (404,332 ) 248,533 Income tax expense (benefit) ( 2) — 5,203 (543 ) — 4,660 Net income (loss) $ 243,873 $ 406,669 $ (2,337 ) $ (404,332 ) $ 243,873 Statement of Comprehensive Income Net income (loss) $ 243,873 $ 406,669 $ (2,337 ) $ (404,332 ) $ 243,873 Total other comprehensive income, net of tax — — 249 — 249 Total comprehensive income (loss) $ 243,873 $ 406,669 $ (2,088 ) $ (404,332 ) $ 244,122 (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 Income and Comprehensive Income for the Year Ended December 31, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income Net revenues $ — $ 1,709,691 $ 46,804 $ (2,851 ) $ 1,753,644 Operating expenses Direct advertising expenses (1) — 564,877 28,052 (2,851 ) 590,078 General and administrative expenses (1) — 310,813 7,567 — 318,380 Corporate expenses (1) — 82,652 1,577 — 84,229 Depreciation and amortization — 247,191 2,837 — 250,028 Gain on disposition of assets — (3,103 ) (4,138 ) — (7,241 ) — 1,202,430 35,895 (2,851 ) 1,235,474 Operating income — 507,261 10,909 — 518,170 Equity in (earnings) loss of subsidiaries (517,516 ) — — 517,516 — Interest expense (income), net 144,976 (149 ) 5,025 — 149,852 Income (loss) before income tax expense 372,540 507,410 5,884 (517,516 ) 368,318 Income tax (benefit) expense (2) — (7,360 ) 3,138 — (4,222 ) Net income (loss) $ 372,540 $ 514,770 $ 2,746 $ (517,516 ) $ 372,540 Statement of Comprehensive Income Net income (loss) $ 372,540 $ 514,770 $ 2,746 $ (517,516 ) $ 372,540 Total other comprehensive income, net of tax — — 673 — 673 Total comprehensive income (loss) $ 372,540 $ 514,770 $ 3,419 $ (517,516 ) $ 373,213 (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 Income and Comprehensive Income for the Year Ended December 31, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income Net revenues $ — $ 1,579,619 $ 50,352 $ (2,749 ) $ 1,627,222 Operating expenses Direct advertising expenses (1) — 537,269 27,307 (2,728 ) 561,848 General and administrative expenses (1) — 280,874 8,554 — 289,428 Corporate expenses (1) — 80,861 1,636 — 82,497 Depreciation and amortization — 219,341 5,920 — 225,261 (Gain) loss on disposition of assets — (576 ) 7,809 — 7,233 — 1,117,769 51,226 (2,728 ) 1,166,267 Operating income (loss) — 461,850 (874 ) (21 ) 460,955 Equity in (earnings) loss of subsidiaries (450,791 ) — — 450,791 — Interest expense (income), net 129,731 (99 ) (413 ) (21 ) 129,198 Other expenses 15,429 — — — 15,429 Income (loss) before income tax expense 305,631 461,949 (461 ) (450,791 ) 316,328 Income tax expense (2) — 7,879 2,818 — 10,697 Net income (loss) $ 305,631 $ 454,070 $ (3,279 ) $ (450,791 ) $ 305,631 Statement of Comprehensive Income Net income (loss) $ 305,631 $ 454,070 $ (3,279 ) $ (450,791 ) $ 305,631 Total other comprehensive loss, net of tax — — (1,290 ) — (1,290 ) Total comprehensive income (loss) $ 305,631 $ 454,070 $ (4,569 ) $ (450,791 ) $ 304,341 (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 Statement of Cash Flows for the Year Ended December 31, 2020 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 495,872 $ 668,673 $ (5,639 ) $ (619,877 ) $ 539,029 Cash flows from investing activities: Capital expenditures — (56,772 ) (5,500 ) — (62,272 ) Acquisitions 577 (46,161 ) — — (45,584 ) Proceeds from disposition of assets and investments — 10,968 — — 10,968 Investment in subsidiaries (46,161 ) — — 46,161 — Increease in intercompany notes receivable (60,183 ) — — 60,183 — Increase in notes receivable — — — — — Net cash (used in) provided by investing activities (105,767 ) (91,965 ) (5,500 ) 106,344 (96,888 ) Cash flows from financing activities: Proceeds received from revolving credit facility 725,000 — — — 725,000 Payment on revolving credit facility (875,000 ) — — — (875,000 ) Principal payments on long term debt — (9,112 ) — — (9,112 ) Borrowings on long term debt — 8,750 — — 8,750 Proceeds received from note offering 1,549,250 — — — 1,549,250 Redemption of senior notes and senior subordinated notes (1,058,596 ) — — — (1,058,596 ) Proceeds received from senior credit facility term loans 598,500 — — — 598,500 Payments on senior credit facility term loans (978,097 ) — — — (978,097 ) Payment on accounts receivable securitization program — — (175,000 ) — (175,000 ) Proceeds received from accounts receivable securitization program — — 122,500 — 122,500 Debt issuance costs (32,950 ) — — — (32,950 ) Intercompany loan proceeds — (9,176 ) 69,359 (60,183 ) — Distributions to non-controlling interest — — (1,509 ) — (1,509 ) Dividends (to) from parent (262,437 ) (619,877 ) — 619,877 (262,437 ) Contributions from (to) parent 41,628 46,161 — (46,161 ) 41,628 Net cash (used in) provided by financing activities (292,702 ) (583,254 ) 15,350 513,533 (347,073 ) Effect of exchange rate changes in cash and cash equivalents — — 313 — 313 Net increase in cash and cash equivalents 97,403 (6,546 ) 4,524 — 95,381 Cash and cash equivalents at beginning of period 13,185 8,278 4,225 — 25,688 Cash and cash equivalents at end of period $ 110,588 $ 1,732 $ 8,749 $ — $ 121,069 Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 469,907 $ 738,030 $ 6,660 $ (609,657 ) $ 604,940 Cash flows from investing activities: Capital expenditures — (136,696 ) (4,260 ) — (140,956 ) Acquisitions — (226,278 ) — — (226,278 ) Proceeds from disposition of assets and investments — 5,438 — — 5,438 Proceeds received from insurance claims — 210 — — 210 Investment in subsidiaries (226,278 ) — — 226,278 — Decrease in intercompany notes receivable 3,787 — — (3,787 ) — Increase in notes receivable (448 ) — — — (448 ) Net cash (used in) provided by investing activities (222,939 ) (357,326 ) (4,260 ) 222,491 (362,034 ) Cash flows from financing activities: Proceeds received from revolving credit facility 495,000 — — — 495,000 Payment on revolving credit facility (625,000 ) — — — (625,000 ) Principal payments on long-term debt (34,471 ) — — — (34,471 ) Proceeds received from accounts receivable securitization program — — 9,000 — 9,000 Payments on accounts receivable securitization program — — (9,000 ) — (9,000 ) Debt issuance costs (4,463 ) — — — (4,463 ) Proceeds received from note offering 255,000 — — — 255,000 Intercompany loan proceeds (payments) — (702 ) (3,085 ) 3,787 — Distributions to non-controlling interest — — (621 ) — (621 ) Dividends (to) from parent (393,700 ) (609,657 ) — 609,657 (393,700 ) Contributions from (to) parent 69,822 226,278 — (226,278 ) 69,822 Net cash (used in) provided by financing activities (237,812 ) (384,081 ) (3,706 ) 387,166 (238,433 ) Effect of exchange rate changes in cash and cash equivalents — — 221 — 221 Net increase in cash and cash equivalents 9,156 (3,377 ) (1,085 ) — 4,694 Cash and cash equivalents at beginning of period 4,029 11,655 5,310 — 20,994 Cash and cash equivalents at end of period $ 13,185 $ 8,278 $ 4,225 $ — $ 25,688 Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 430,896 $ 689,718 $ (17,143 ) $ (566,386 ) $ 537,085 Cash flows from investing activities: Acquisitions — (477,389 ) — — (477,389 ) Capital expenditures — (113,259 ) (4,379 ) — (117,638 ) Proceeds from disposition of assets and investments — 3,839 2,809 — 6,648 Proceeds received from insurance claims — — 4,222 — 4,222 Investment in subsidiaries (498,226 ) — — 498,226 — Decrease in intercompany notes receivable 30,034 — — (30,034 ) — Decrease in notes receivable 9 — — — 9 Net cash (used in) provided by investing activities (468,183 ) (586,809 ) 2,652 468,192 (584,148 ) Cash flows from financing activities: Proceeds received from revolving credit facility 563,000 — — — 563,000 Payment on revolving credit facility (481,000 ) — — — (481,000 ) Principal payments on long-term debt (27,297 ) (31 ) — — (27,328 ) Proceeds received from senior credit facility term loans 599,250 — — — 599,250 Proceeds received from accounts receivable securitization program — — 175,000 — 175,000 Debt issuance costs (7,616 ) — — — (7,616 ) Redemption on senior subordinated notes (509,790 ) — — — (509,790 ) Intercompany loan proceeds (payments) 175,000 (24,688 ) (180,346 ) 30,034 — Distributions to non-controlling interest — — (541 ) — (541 ) Contributions from (to) parent 89,967 498,226 — (498,226 ) 89,967 Dividends (to) from parent (446,744 ) (566,386 ) — 566,386 (446,744 ) Net cash (used in) provided by financing activities (45,230 ) (92,879 ) (5,887 ) 98,194 (45,802 ) Effect of exchange rate changes in cash and cash equivalents — — (1,112 ) — (1,112 ) Net increase in cash and cash equivalents (82,517 ) 10,030 (21,490 ) — (93,977 ) Cash and cash equivalents at beginning of period 86,546 1,625 26,800 — 114,971 Cash and cash equivalents at end of period $ 4,029 $ 11,655 $ 5,310 $ — $ 20,994

Description of the Business a_2

Description of the Business and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Nature of Business	(a) Nature of Business Lamar Advertising Company (the Company) is engaged in the outdoor advertising business, operating approximately 153,200 billboard advertising displays in 45 states and Canada. The Company’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. In addition, the Company operates a logo sign business in 23 states throughout the United States and the province of Ontario, Canada and operates approximately 47,700 transit advertising displays in 22 states and Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising in airport terminals, on bus shelters, benches and buses in the markets it serves. The Company operates as a Real Estate Investment Trust (“REIT”) for U.S. federal income tax purposes and generally will not be subject to federal income taxes on its income and gains that the Company distributes to its stockholders, including the income derived from advertising rental revenue. However, even as a REIT, the Company will remain obligated to pay income taxes on earnings from the assets of its taxable REIT subsidiaries (“TRSs”). In addition, the Company’s foreign assets and operations continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted. The unprecedented COVID-19 pandemic and the related government-imposed restrictions and social distancing measures have had an adverse effect on the demand for out-of-home advertising. As a result, demand for billboard, transit and airport advertising has declined, which has negatively affected the Company’s revenues and financial position for the year ended December 31, 2020. We have implemented measures to mitigate the impact on the Company’s financial position, which include: maintaining substantial liquidity and strengthening our debt maturity schedule (see Note 9 Long-term Debt
Principles of Consolidation	(b) Principles of Consolidation The accompanying consolidated financial statements include Lamar Advertising Company, its wholly owned subsidiary, Lamar Media Corp. (Lamar Media), and its majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation. An operating segment is a component of an enterprise: • that engages in business activities from which it may earn revenues and incur expenses; • whose operating results are regularly reviewed by the enterprise’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and • for which discrete financial information is available. We define the term ‘chief operating decision maker’ to be our executive management group, which consist of our Executive Chairman, President and Chief Executive Officer, and Chief Financial Officer. Currently, all operations are reviewed on a consolidated basis for budget and business plan performance by our executive management group. Additionally, operational performance at the end of each reporting period is viewed in the aggregate by our management group. Any decisions related to changes in invested capital, personnel, operational improvement or training, or to allocate other company resources are made based on the combined results. We operate in a single operating and reporting segment, advertising. We rent advertising space on billboards, buses, shelters, benches, logo plates and in airport terminals.
Property, Plant and Equipment	(c) Property, Plant and Equipment Property, plant and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets.
Goodwill and Intangible Assets	(d) Goodwill and Intangible Assets Goodwill is subject to an annual impairment test. The Company designated December 31 as the date of its annual goodwill impairment test. The Company is required to identify its reporting units and determine the carrying value of each reporting unit. The Company has identified two reporting units, Billboard operations and Logo operations, by assigning the assets and liabilities, including the existing goodwill and intangible assets, to those reporting units. The Company is required to determine the fair value of each reporting unit and compare it to the carrying amount of the reporting unit. To the extent the carrying amount of a reporting unit exceeds the fair value of the reporting unit, the Company would be required to book an impairment loss. The Company conducts a qualitative assessment by examining relevant events and circumstances which could have a negative impact on the Company’s goodwill, which includes macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, reporting unit dispositions and acquisitions, the market capitalization of the Company and other relevant events specific to the Company. If, after assessing the totality of events or circumstances described above, the Company determines that it is more likely than not that the fair value of either of the Company's reporting units is less than its carrying amount, the Company will perform a quantitative impairment test. If industry and economic conditions deteriorate, the Company may be required to assess goodwill impairment before the next annual test, which could result in impairment charges. The Company performed its annual measurement for impairment of the goodwill of its reporting units and concluded the fair value of each reporting unit exceeded its carrying amount at its annual impairment test date on December 31, 2020 and 2019; therefore, the Company was not required to recognize an impairment loss. Intangible assets, consisting primarily of site locations, customer lists and contracts, and non-competition agreements are amortized using the straight-line method over the assets estimated useful lives, generally from 2 to 15 years.
Impairment of Long-Lived Assets	(e) Impairment of Long-Lived Assets Long-lived assets, such as property, plant and equipment, lease right of use assets and purchased intangibles subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset or asset group before interest expense. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset or asset group. Assets to be disposed of would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a disposed group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.
Acquisitions	(f) Acquisitions The Company accounts for transactions that meet the definition of a business and group asset purchases as acquisitions. For transactions that meet the definition of a business combination, the Company allocates the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. The determination of the final purchase price and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period and result in adjustments to the preliminary estimate recognized in the prior period financial statements For transactions that meet the definition of asset group purchases, the Company proportionally allocates the purchase price to the assets based on relative fair value acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition. If a transaction is determined to be a group of assets, any direct acquisition costs are capitalized. Transaction costs for transactions determined to be a business combination are expensed as incurred. The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, the Company must estimate the cost to replace the asset with a new asset, adjusted for an estimated reduction in fair value due to age of the asset, and the economic useful life. When determining the fair value of intangible assets acquired, the Company must estimate the applicable discount rate and the timing and amount of future cash flows.
Lease Liabilities	(g) Lease Liabilities On January 1, 2019, the Company adopted ASC 842, Leases The Company is party to various operating leases for production facilities, vehicles and sites upon which advertising structures are built, including our billboard land leases, leases of logo structures and leases of transit advertising space. The leases expire at various dates, have varying options to renew and cancel, and may contain escalation provisions. We expense our non-variable lease payments ratably over the lease term. Also, certain of our leases contain variable lease payments based on percentage of revenue or consumer price index or other inflation-based indices. The variable lease costs are expensed in the period incurred. Financing lease right of use assets are amortized over the life of the lease which is recorded in depreciation and amortization on the consolidated statements of income and comprehensive income. Interest related to financing lease liabilities is recorded in interest expense on the consolidated statements of income and comprehensive income. The key estimates for our leases include (1) the discount rate used to discount the unpaid lease payment to present value and (2) lease term. Our leases generally do not include a readily determinable implicit rate, therefore, using a portfolio approach, we determine our collateralized incremental borrowing rate to discount the lease payment based on the information available at lease commencement. Our lease terms include the noncancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend the lease controlled by the lessor. The Company has determined we are not reasonably certain to exercise renewals or termination options, and as a result we use the lease’s initial stated term as the lease term for our lease population.
Deferred Income	(h) Deferred Income Deferred income consists principally of advertising revenue invoiced in advance. Deferred advertising revenue is recognized in income over the term of the contract.
Revenue Recognition	(i) Revenue Recognition The Company recognizes outdoor advertising revenue on an accrual basis ratably over the term of the contracts. Production revenue and the related expense for the advertising copy are recognized upon satisfaction of its performance obligation. The Company engages in barter transactions where the Company trades advertising space for goods and services. The Company recognizes revenues and expenses from barter transactions at fair value, which is determined based on the Company’s own historical practice of receiving cash for similar advertising space from buyers unrelated to the party in the barter transaction. The amount of revenue and expense recognized for advertising barter transactions is as follows: 2020 2019 2018 Net revenues $ 8,088 $ 9,636 $ 8,955 Direct advertising expenses $ 3,971 $ 3,982 $ 3,633 General and administrative expenses $ 3,144 $ 4,986 $ 4,758
Income Taxes	(j) Income Taxes As a REIT, the Company is generally not subject to federal income taxes on income and gains distributed to the Company’s stockholders. However, the Company remains obligated to pay income taxes on earnings from domestic TRSs. In addition, the Company’s foreign assets and operations continue to be subject to taxation in the foreign jurisdictions where those assets are held or where those operations are conducted, including those designated as Qualified REIT Subsidiaries, or QRSs, for federal income tax purposes. Accordingly, the consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carry forwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized in income in the period that includes the enactment date.
Dividends/Distributions	(k) Dividends/Distributions As a REIT, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). During the years ended December 31, 2020 and 2019, the Company declared and paid distributions of its REIT taxable income of $251,944 or $2.50 per share and $384,817 or $3.84 per share, respectively. During the year ended December 31, 2018, the Company paid cash distributions of its REIT taxable income in an aggregate amount of $442,632 or $4.48 per share. The distributions paid during 2018 include distributions declared and accrued as of December 31, 2017 of $81,534 or $0.83 per share. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including the 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 its existing and future debt instruments, the Company’s ability to utilize net operating losses (“NOLs”) to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its TRSs and other factors that the Board of Directors may deem relevant. During each of the years ended December 31, 2020 and 2019, the Company paid dividend distributions to holders of its Series AA Preferred Stock of $365 or $63.80 per share. During the year ended December 31, 2018, the Company paid cash dividend distributions to holders of its Series AA Preferred Stock in an aggregate amount of $456 or $79.75 per share, including $91, or $15.95 per share, related to distributions accrued for in 2017.
Earnings Per Share	(l) Earnings Per Share The calculation of basic earnings per share excludes any dilutive effect of stock options, while diluted earnings per share includes the dilutive effect of stock options. For the years ended December 31, 2020, 2019 and 2018 there were no dilutive shares excluded from the calculation.
Share Based Compensation	(m) Stock Based Compensation Compensation expense for share-based awards is recognized based on the grant date fair value of those awards. Stock based compensation expense includes an estimate for pre-vesting forfeitures and is recognized over the requisite service periods of the awards on a straight-line basis, which generally commensurates with the vesting term. Non-cash compensation expense recognized during the years ended December 31, 2020, 2019, and 2018 were $18,772, $29,647 and $29,443, respectively. The $18,772 expensed during the year ended December 31, 2020 consists of (i) $4,249 related to stock options and the employee stock purchase plan, (ii) $12,602 related to stock grants made under the Company’s performance-based stock incentive program in 2020, (iii) $1,451 related to non-performance restricted stock awards and (iv) $470 related to restricted stock awards to directors. See Note 15 for information on the assumptions used to calculate the fair value of stock-based compensation.
Cash and Cash Equivalents	(n) Cash and Cash Equivalents The Company considers all highly-liquid investments with original maturities of three months or less to be cash equivalents.
Credit Losses	(o) Credit Losses The Company estimates credit losses on financial instruments based on amounts expected to be collected. The allowance for doubtful accounts is estimated based on historical collections, accounts receivable aging, economic indicators, and expected future trends.
Foreign Currency Translation	(p) Foreign Currency Translation Local currencies generally are considered the functional currencies outside the United States. Assets and liabilities for operations in local-currency environments are translated at year-end exchange rates. Income and expense items are translated at average rates of exchange prevailing during the year. Foreign currency translation adjustments are recorded as a component of other comprehensive income (loss) in the Consolidated Statements of Income and Comprehensive Income and as a component of accumulated comprehensive income (loss) in the Consolidated Statements of Stockholders’ Equity.
Asset Retirement Obligations	(q) Asset Retirement Obligations The Company is required to record the fair value of obligations associated with the retirement of tangible long-lived assets in the period in which it is incurred. The liability is capitalized as part of the related long-lived asset’s carrying amount. Over time, accretion of the liability is recognized as an operating expense and the capitalized cost is depreciated over the expected useful life of the related asset. The Company’s asset retirement obligations relate primarily to the dismantlement, removal, site reclamation and similar activities of its leased properties.
Use of Estimates	(r) Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Comprehensive Income	(s) Comprehensive Income Total comprehensive income is presented in the Consolidated Statements of Income and Comprehensive Income and the components of accumulated comprehensive income (loss) are presented in the Consolidated Statements of Stockholders’ Equity. Comprehensive income (loss) is composed of foreign currency translation effects.
Fair Value Measurements	(t) Fair Value Measurements The Company determines the fair value of its financial instruments using the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Subsequent Events	(u) Subsequent Events The Company has performed an evaluation of subsequent events through the date on which the financial statements are issued.
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Nature of Business	(a) Nature of Business Lamar Media Corp. (“Lamar Media”) is a wholly owned subsidiary of Lamar Advertising Company. Lamar Media is engaged in the outdoor advertising business operating approximately 153,200 outdoor advertising displays in 45 states and Canada. Lamar Media’s operating strategy is to be the leading provider of outdoor advertising services in the markets it serves. In addition, Lamar Media operates a logo sign business in 23 states throughout the United States as well as the province of Ontario, Canada. Logo signs are erected pursuant to state-awarded service contracts on public rights-of-way near highway exits and deliver brand name information on available gas, food, lodging and camping services. Included in the Company’s logo sign business are tourism signing contracts. The Company provides transit advertising in airport terminals, on bus shelters, benches and buses in the markets it serves. The unprecedented COVID-19 pandemic and the related government-imposed restrictions and social distancing measures have had an adverse effect on the demand for out-of-home advertising. As a result, demand for billboard, transit and airport advertising has declined, which has negatively affected Lamar Media’s revenues and financial position for the year ended December 31, 2020. We have implemented measures to mitigate the impact on Lamar Media’s financial position, which include: maintaining substantial liquidity and strengthening our debt maturity schedule, reducing our consolidated operating costs (exclusive of depreciation and amortization and gain on disposition of assets), limiting spending on capital projects, minimizing acquisition activity, and utilizing portions of the CARES Act for deferral of employer portions of social security taxes through the end of 2020. Management continues to monitor the effects of the COVID-19 pandemic on our business and the ultimate extent of impact on our financial position and results of operations cannot currently be predicted. Certain footnotes are not provided for the accompanying financial statements as the information in notes 2, 3, 5, 7, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 23 and 24 and portions of note 1 to the consolidated financial statements of Lamar Advertising Company included elsewhere in this filing are substantially equivalent to that required for the consolidated financial statements of Lamar Media Corp. Earnings per share data is not provided for the operating results of Lamar Media Corp. as it is a wholly owned subsidiary of Lamar Advertising Company.
Principles of Consolidation	(b) Principles of Consolidation The accompanying consolidated financial statements include Lamar Media, its wholly owned subsidiaries, The Lamar Company, L.L.C., Lamar Central Outdoor, LLC, Lamar TRS Holdings, LLC, Lamar Advertising Southwest, Inc., Interstate Logos, L.L.C., Lamar Obie Company, LLC, Lamar Canadian Outdoor Company, Lamar Advertising of Puerto Rico, Inc., Lamar QRS Receivables, LLC, Fairway Media Group, LCC, Ashby Street Outdoor Holdings, LLC and their majority-owned subsidiaries. All inter-company transactions and balances have been eliminated in consolidation.

Description of the Business a_3

Description of the Business and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Revenue and Expense Recognized for Advertising Barter Transactions	The amount of revenue and expense recognized for advertising barter transactions is as follows: 2020 2019 2018 Net revenues $ 8,088 $ 9,636 $ 8,955 Direct advertising expenses $ 3,971 $ 3,982 $ 3,633 General and administrative expenses $ 3,144 $ 4,986 $ 4,758

Revenues (Tables)

Revenues (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Disaggregation Revenue	The following table presents our disaggregated revenue by source including revenues accounted for under ASC 840, ASC 842 and ASC 606 for the years ended December 31, 2020, 2019 and 2018. 2020 2019 2018 Billboard Advertising $ 1,403,239 $ 1,537,542 $ 1,412,978 Logo Advertising 82,944 84,201 84,424 Transit Advertising 82,673 131,901 129,820 Net Revenues $ 1,568,856 $ 1,753,644 $ 1,627,222

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2020
2020 Acquisitions [Member]
Summary of Allocation of Purchase Price/Acquisition Costs	The following is a summary of the allocation of the purchase price in the above transactions. Total Property, plant and equipment $ 13,376 Site locations 27,902 Non-competition agreements 140 Customer lists and contracts 3,979 Asset acquisition costs 154 Current assets 3 Current liabilities (295 ) Operating right of use assets 7,269 Operating lease liabilities (6,368 ) $ 46,160
2019 Acquisitions [Member]
Summary of Allocation of Purchase Price/Acquisition Costs	Total Property, plant and equipment $ 37,988 Site locations 131,208 Non-competition agreements 240 Customer lists and contracts 23,032 Asset acquisition costs 756 Other intangibles 3,115 Goodwill 29,360 Current assets 1,860 Current liabilities (832 ) Operating right of use assets 23,934 Operating lease liabilities (21,573 ) Other liabilities (1,500 ) $ 227,588
2019 Acquisitions Excluding Fairway Assets [Member]
Summary of Unaudited Pro Forma Financial Information	The following unaudited pro forma financial information for the Company gives effect to the 2019 and 2018 acquisitions as if they had occurred on January 1, 2018. 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. 2019 2018 (unaudited) Net revenues $ 1,764,493 $ 1,724,821 Net income applicable to common stock $ 369,300 $ 292,012 Net income per common share — basic $ 3.69 $ 2.96 Net income per common share — diluted $ 3.68 $ 2.95

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Summary of Major Categories of Property, Plant and Equipment	Major categories of property, plant and equipment at December 31, 2020 and 2019 are as follows: Estimated Life (Years) 2020 2019 Land — $ 413,257 $ 406,884 Building and improvements 10 — 39 187,921 181,797 Advertising structures 5 — 15 2,880,521 2,926,706 Automotive and other equipment 3 — 7 133,806 144,924 $ 3,615,505 $ 3,660,311

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Intangible Assets	The following is a summary of intangible assets at December 31, 2020 and 2019: Estimated 2020 2019 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable Intangible Assets: Customer lists and contracts 7 — 10 $ 645,739 $ 563,135 $ 641,714 $ 539,405 Non-competition agreements 3 — 15 66,156 64,647 66,014 64,379 Site locations 15 2,412,745 1,593,805 2,384,520 1,509,335 Other 2 — 15 50,018 38,625 49,864 36,749 $ 3,174,658 $ 2,260,212 $ 3,142,112 $ 2,149,868 Unamortizable Intangible Assets: Goodwill $ 2,165,864 $ 253,536 $ 2,165,810 $ 253,536
Summary of Changes in Gross Carrying Amount of Goodwill	The changes in the gross carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows: Balance as of December 31, 2018 $ 2,172,922 Goodwill acquired during the year 29,360 Purchase price adjustments and other (36,472 ) Impairment losses — Balance as of December 31, 2019 $ 2,165,810 Goodwill acquired during the year — Purchase price adjustments and other 54 Impairment losses — Balance as of December 31, 2020 $ 2,165,864
Summary of Estimated Amortization Expense	The following is a summary of the estimated amortization expense for future years: 2021 $ 106,816 2022 101,964 2023 91,133 2024 87,320 2025 83,959 Thereafter 443,254 Total $ 914,446
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Summary of Intangible Assets	The following is a summary of intangible assets at December 31, 2020 and 2019: Estimated 2020 2019 Life (Years) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizable Intangible Assets: Customer lists and contracts 7—10 $ 645,739 $ 563,135 $ 641,714 $ 539,405 Non-competition agreement 3—15 66,156 64,647 66,014 64,379 Site locations 15 2,412,745 1,593,805 2,384,520 1,509,335 Other 2—15 49,472 38,547 49,318 36,671 $ 3,174,112 $ 2,260,134 $ 3,141,566 $ 2,149,790 Unamortizable Intangible Assets: Goodwill $ 2,154,844 $ 252,667 $ 2,154,790 $ 252,667
Summary of Changes in Gross Carrying Amount of Goodwill	The changes in the gross carrying amount of goodwill for the years ended December 31, 2020 and 2019 are as follows: Balance as of December 31, 2018 $ 2,161,902 Goodwill acquired during the year 29,360 Purchase price adjustments and other (36,472 ) Impairment losses — Balance as of December 31, 2019 2,154,790 Goodwill acquired during the year — Purchase price adjustments and other 54 Impairment losses — Balance as of December 31, 2020 $ 2,154,844

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Summary of Maturities of Operating Lease Liabilities	The following is a summary of the maturities of our operating lease liabilities as of December 31, 2020: 2021 $ 228,135 2022 182,214 2023 162,163 2024 145,750 2025 122,384 Thereafter 757,576 Total undiscounted operating lease payments 1,598,222 Less: Imputed interest (409,007 ) Total operating lease liabilities $ 1,189,215

Accrued Expenses (Tables)

Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Accrued Expenses	The following is a summary of accrued expenses at December 31, 2020 and 2019: 2020 2019 Payroll $ 17,034 $ 20,223 Interest 33,583 32,734 Insurance benefits 12,499 11,554 Accrued variable lease and contract expense 19,274 12,559 Stock-based compensation 11,589 23,297 Other 11,309 6,858 $ 105,288 $ 107,225
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Summary of Accrued Expenses	The following is a summary of accrued expenses at December 31, 2020 and 2019: 2020 2019 Payroll $ 17,034 $ 20,223 Interest 33,583 32,734 Accrued variable lease and contract expense 19,274 12,559 Stock-based compensation 11,589 23,297 Other 16,998 12,453 $ 98,478 $ 101,266

Long-term Debt (Tables)

Long-term Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Long-Term Debt	Long-term debt consists of the following at December 31, 2020 and 2019: December 31, 2020 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 598,466 $ 11,569 $ 586,897 Accounts Receivable Securitization Program 122,500 445 122,055 3 3/4 600,000 8,031 591,969 4% Senior Notes 549,280 7,911 541,369 4 7/8 400,000 5,586 394,414 5 3/4 653,631 6,575 647,056 Other notes with various rates and terms 2,756 — 2,756 2,926,633 40,117 2,886,516 Less current maturities (122,879 ) (445 ) (122,434 ) Long-term debt, excluding current maturities $ 2,803,754 $ 39,672 $ 2,764,082 December 31, 2019 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,127,069 $ 9,077 $ 1,117,992 Accounts Receivable Securitization Program 175,000 846 174,154 5% Senior Subordinated Notes 535,000 3,237 531,763 5 3/8 510,000 3,502 506,498 5 3/4 654,345 7,752 646,593 Other notes with various rates and terms 3,118 — 3,118 3,004,532 24,414 2,980,118 Less current maturities (232,595 ) (6,081 ) (226,514 ) Long-term debt, excluding current maturities $ 2,771,937 $ 18,333 $ 2,753,604
Summary of Long-Term Debt Contractual Maturities	Long-term debt contractual maturities are as follows: Debt Deferred financing costs Debt, net of deferred financing costs 2021 $ 122,879 $ 445 $ 122,434 2022 $ 362 $ — $ 362 2023 $ 381 $ — $ 381 2024 $ 400 $ — $ 400 2025 $ 420 $ 4,464 $ (4,044 ) Later years $ 2,802,191 $ 35,208 $ 2,766,983
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Long-Term Debt	Long-term debt consists of the following at December 31, 2020 and 2019: December 31, 2020 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 598,466 $ 11,569 $ 586,897 Accounts Receivable Securitization Program 122,500 445 122,055 3 3/4% 600,000 8,031 591,969 4% Senior Notes 549,280 7,911 541,369 4 7/8% 400,000 5,586 394,414 5 3/4% 653,631 6,575 647,056 Other notes with various rates and terms 2,756 — 2,756 2,926,633 40,117 2,886,516 Less current maturities (122,879 ) (445 ) (122,434 ) Long-term debt, excluding current maturities $ 2,803,754 $ 39,672 $ 2,764,082 December 31, 2019 Debt Deferred financing costs Debt, net of deferred financing costs Senior Credit Facility $ 1,127,069 $ 9,077 $ 1,117,992 Accounts Receivable Securitization Program 175,000 846 174,154 5% Senior Subordinated Notes 535,000 3,237 531,763 5 3/8% 510,000 3,502 506,498 5 3/4% 654,345 7,752 646,593 Other notes with various rates and terms 3,118 — 3,118 3,004,532 24,414 2,980,118 Less current maturities (232,595 ) (6,081 ) (226,514 ) Long-term debt, excluding current maturities $ 2,771,937 $ 18,333 $ 2,753,604
Summary of Long-Term Debt Contractual Maturities	Long-term debt contractual maturities are as follows: Debt Deferred financing costs Debt, net of deferred financing costs 2021 $ 122,879 $ 445 $ 122,434 2022 $ 362 $ — $ 362 2023 $ 381 $ — $ 381 2024 $ 400 $ — $ 400 2025 $ 420 $ 4,464 $ (4,044 ) Later years $ 2,802,191 $ 35,208 $ 2,766,983

Asset Retirement Obligation (Ta

Asset Retirement Obligation (Tables)	12 Months Ended
	Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Information Related to Asset Retirement Obligations	The following table reflects information related to our asset retirement obligations: Balance at December 31, 2018 $ 222,989 Additions to asset retirement obligations 2,529 Accretion expense 4,260 Liabilities settled (3,641 ) Balance at December 31, 2019 $ 226,137 Additions to asset retirement obligations 658 Accretion expense 4,135 Liabilities settled (8,054 ) Balance at December 31, 2020 $ 222,876

Depreciation and Amortization (

Depreciation and Amortization (Tables)	12 Months Ended
	Dec. 31, 2020
Depreciation And Amortization [Abstract]
Depreciation and Amortization Expense Excluded from Operating Expenses in its Consolidated Statements of Income and Comprehensive Income	The amounts of depreciation and amortization expense excluded from the following operating expenses in its Consolidated Statements of Income and Comprehensive Income are: Year Ended December 31, 2020 2019 2018 Direct expenses $ 236,054 $ 235,544 $ 212,585 General and administrative expenses 4,996 4,416 4,134 Corporate expenses 10,246 10,068 8,542 $ 251,296 $ 250,028 $ 225,261

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	Income tax expense (benefit) consists of the following: Current Deferred Total Year ended December 31, 2020: U.S. federal $ 2,997 $ (45 ) $ 2,952 State and local 1,940 311 2,251 Foreign 520 (1,063 ) (543 ) $ 5,457 $ (797 ) $ 4,660 Year ended December 31, 2019: U.S. federal $ 6,045 $ (13,450 ) $ (7,405 ) State and local 2,699 (2,654 ) 45 Foreign 1,164 1,974 3,138 $ 9,908 $ (14,130 ) $ (4,222 ) Year ended December 31, 2018: U.S. federal $ 4,952 $ 435 $ 5,387 State and local 2,615 (123 ) 2,492 Foreign 1,592 1,226 2,818 $ 9,159 $ 1,538 $ 10,697
U.S. and Foreign Components of Earnings Before Income Taxes	The U.S. and foreign components of earnings before income taxes are as follows: 2020 2019 2018 U.S. $ 249,714 $ 357,445 $ 317,695 Foreign (1,668 ) 10,444 (1,766 ) Total $ 248,046 $ 367,889 $ 315,929
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of significant differences between the reported amount of income tax expense and the expected amount of income tax expense that would result from applying the U.S. federal statutory income tax rate of 21 percent to income before taxes for the 2020, 2019 and 2018 tax years is as follows: 2020 2019 2018 Income tax expense at U.S. federal statutory rate $ 52,090 $ 77,257 $ 66,345 Tax adjustment related to REIT (a) (50,395 ) (70,619 ) (63,669 ) State and local income taxes, net of federal income tax benefit 1,222 2,039 1,461 Book expenses not deductible for tax purposes 3,156 4,144 1,926 Stock-based compensation (2,033 ) (1,177 ) 1,090 Valuation allowance (b) (1,031 ) (1,032 ) 3,813 Rate change (c) (182 ) — (80 ) Undistributed earnings of foreign subsidiaries (d) (78 ) (102 ) (393 ) Deferred tax adjustment due to REIT conversion (e) — (17,031 ) — Other differences, net 1,911 2,299 204 Income tax expense (benefit) $ 4,660 $ (4,222 ) $ 10,697 (a) Includes dividend paid deduction of $52,985, $76,688 and $69,818 for the tax years ended December 31, 2020, 2019 and 2018, respectively. (b) For the years ended December 31, 2020, 2019 and 2018, a non-cash valuation allowance of $(1,031), $(1,032) and $3,813, respectively, was recorded to income tax expense due to our limited ability to utilize Puerto Rico deferred tax assets in future years. (c) Under Act 257 , the Puerto Rico corporate income tax rate was lowered from % to 37.5 %. As a result, a non-cash benefit of $ 182 to income tax expense was recorded for the reduction of the Puerto Rico net deferred tax liability for the year ended December 31, 20 20 . (d) Management does not assert that the undistributed earnings of our Canadian subsidiaries will be permanently reinvested. For the years ended December 31, 2020, 2019 and 2018, we recognized a deferred tax benefit of $78, $102 and $393, respectively, for future foreign withholding taxes related to undistributed earnings. (e )
Components of Deferred Taxes	The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and (liabilities) are presented below: 2020 2019 Deferred tax assets: Allowance for doubtful accounts $ 328 $ 499 Accrued liabilities not deducted for tax purposes 3,358 3,431 Net operating loss carry forwards 18,803 19,522 Tax credit carry forwards 693 1,140 Charitable contributions carry forward 4 5 Investment in partnerships 367 382 Gross deferred tax assets 23,553 24,979 Less: valuation allowance (20,997 ) (22,902 ) Net deferred tax assets 2,556 2,077 Deferred tax liabilities: Intangibles (5,443 ) (5,898 ) Property, plant and equipment (911 ) (701 ) Undistributed earnings of foreign subsidiaries (1,056 ) (1,191 ) Gross deferred tax liabilities (7,410 ) (7,790 ) Net deferred tax liabilities $ (4,854 ) $ (5,713 )
Reconciliation Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Balance as of December 31, 2018 $ 3,207 Additions for tax positions related to current year 974 Additions for tax positions related to prior years 386 Reductions for tax positions related to prior years — Lapse of statute of limitations (117 ) Settlements — Balance as of December 31, 2019 $ 4,450 Additions for tax positions related to current year 862 Additions for tax positions related to prior years 667 Reductions for tax positions related to prior years — Lapse of statute of limitations (1,013 ) Settlements — Balance as of December 31, 2020 $ 4,966

Stock Compensation Plans (Table

Stock Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted Average Assumptions	The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions used: Grant Year Dividend Yield Expected Volatility Risk Free Interest Rate Expected Lives 2020 5% 45% 2% 6 2019 5% 46% 2% 6 2018 5% 46% 2% 6
Stock Option Transactions under Various Stock-Based Employee Compensation Plans	Information regarding the 1996 Plan for the year ended December 31, 2020 is as follows: Shares Weighted Average Exercise Price Weighted Average Contractual Life Outstanding, beginning of year 608,375 $ 57.97 Granted 63,500 71.91 Exercised (61,949 ) 50.66 Forfeited — — Expired (11,000 ) 50.81 Outstanding, end of year 598,926 60.34 5.42 Exercisable at end of year 422,626 55.06 4.25
Summary of ESPP Share Activity	The following is a summary of 2019 ESPP share activity for the year ended December 31, 2020: Shares Available for future purchases, January 1, 2020 438,434 Additional shares reserved under 2019 ESPP 86,093 Purchases (154,756 ) Available for future purchases, December 31, 2020 369,771

Commitment and Contingencies (T

Commitment and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Summary of Minimum Payments Related to Agreements	Our off-balance sheet commitments consist of guaranteed minimum payments to local transit municipalities and airport authorities for agreements which entitle us to rent advertising space to customers, in airports and on buses, benches or shelters. These agreements no longer meet the criteria of a lease under ASC 842, Leases 2021 $ 30,775 2022 $ 26,640 2023 $ 19,357 2024 $ 16,247 2025 $ 12,679 Thereafter $ 4,515

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2020
Summary of Quarterly Financial Data	The tables below represent the balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2020 and 2019. Year 2020 Quarters March 31 June 30 September 30 December 31 Net revenues $ 406,569 $ 347,652 $ 386,110 $ 428,525 Net revenues less direct advertising expenses $ 257,075 $ 213,593 $ 249,801 $ 290,726 Net income applicable to common stock $ 40,402 $ 31,338 $ 62,667 $ 108,614 Net income per common share basic $ 0.40 $ 0.31 $ 0.62 $ 1.08 Net income per common share diluted $ 0.40 $ 0.31 $ 0.62 $ 1.08 Year 2019 Quarters March 31 June 30 September 30 December 31 Net revenues $ 384,457 $ 448,742 $ 457,786 $ 462,659 Net revenues less direct advertising expenses $ 243,987 $ 302,352 $ 308,940 $ 308,287 Net income applicable to common stock $ 51,162 $ 118,305 $ 99,618 $ 102,661 Net income per common share basic $ 0.51 $ 1.18 $ 0.99 $ 1.02 Net income per common share diluted $ 0.51 $ 1.18 $ 0.99 $ 1.02
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Summary of Quarterly Financial Data	The tables below represent the balances for the selected quarterly financial data of the Company for each reporting period in the years ended December 31, 2020 and 2019. Year 2020 Quarters March 31 June 30 September 30 December 31 Net revenues $ 406,569 $ 347,652 $ 386,110 $ 428,525 Net revenues less direct advertising expenses $ 257,075 $ 213,593 $ 249,801 $ 290,726 Net income $ 40,617 $ 31,534 $ 62,895 $ 108,827 Year 2019 Quarters March 31 June 30 September 30 December 31 Net revenues $ 384,457 $ 448,742 $ 457,786 $ 462,659 Net revenues less direct advertising expenses $ 243,987 $ 302,352 $ 308,940 $ 308,287 Net income $ 51,362 $ 118,485 $ 99,832 $ 102,861

Summarized Financial Informat_2

Summarized Financial Information of Subsidiaries (Tables) - LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]	12 Months Ended
	Dec. 31, 2020
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet as of December 31, 2020 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 110,678 $ 19,471 $ 249,921 $ — $ 380,070 Net property, plant and equipment — 1,268,765 13,084 — 1,281,849 Operating lease right of use assets — 1,200,115 21,898 — 1,222,013 Intangibles and goodwill, net — 2,798,343 17,812 — 2,816,155 Other assets 3,912,122 258,433 132,448 (4,228,383 ) 74,620 Total assets $ 4,022,800 $ 5,545,127 $ 435,163 $ (4,228,383 ) $ 5,774,707 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ — $ 379 $ 122,055 $ — $ 122,434 Current operating lease liabilties — 188,712 6,727 — 195,439 Other current liabilities 33,583 170,320 19,286 — 223,189 Total current liabilities 33,583 359,411 148,068 — 541,062 Long-term debt 2,761,705 2,377 — — 2,764,082 Operating lease liabilities — 979,785 13,991 — 993,776 Other noncurrent liabilities 34,668 245,891 266,968 (264,584 ) 282,943 Total liabilities 2,829,956 1,587,464 429,027 (264,584 ) 4,581,863 Stockholders’ equity 1,192,844 3,957,663 6,136 (3,963,799 ) 1,192,844 Total liabilities and stockholders’ equity $ 4,022,800 $ 5,545,127 $ 435,163 $ (4,228,383 ) $ 5,774,707 Condensed Consolidating Balance Sheet as of December 31, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated ASSETS Total current assets $ 13,859 $ 53,756 $ 242,054 $ — $ 309,669 Net property, plant and equipment — 1,340,675 8,440 — 1,349,115 Operating lease right of use assets — 1,293,674 27,105 — 1,320,779 Intangibles and goodwill, net — 2,875,644 18,255 — 2,893,899 Other assets 4,193,629 229,905 184,805 (4,557,380 ) 50,959 Total assets $ 4,207,488 $ 5,793,654 $ 480,659 $ (4,557,380 ) $ 5,924,421 LIABILITIES AND STOCKHOLDER'S EQUITY Current liabilities: Current maturities of long-term debt $ 51,480 $ 34 $ 175,000 $ — $ 226,514 Current operating lease liabilities — 189,071 7,770 — 196,841 Other current liabilities 26,960 196,689 19,845 — 243,494 Total current liabilities 78,440 385,794 202,615 — 666,849 Long-term debt 2,753,570 34 — — 2,753,604 Operating lease liabilities — 1,049,220 18,961 — 1,068,181 Other noncurrent liabilities 205,947 231,416 250,859 (421,966 ) 266,256 Total liabilities 3,037,957 1,666,464 472,435 (421,966 ) 4,754,890 Stockholders’ equity 1,169,531 4,127,190 8,224 (4,135,414 ) 1,169,531 Total liabilities and stockholders’ equity $ 4,207,488 $ 5,793,654 $ 480,659 $ (4,557,380 ) $ 5,924,421
Condensed Consolidating Statements of Income and Comprehensive Income	Condensed Consolidating Statements of Income and Comprehensive Income for the Year Ended December 31, 2020 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income Net revenues $ — $ 1,536,534 $ 33,965 $ (1,643 ) $ 1,568,856 Operating expenses Direct advertising expenses (1) — 533,803 25,501 (1,643 ) 557,661 General and administrative expenses (1) — 281,293 6,581 — 287,874 Corporate expenses (1) — 69,478 979 — 70,457 Depreciation and amortization — 249,299 1,997 — 251,296 (Gain) loss on disposition of assets — (9,036 ) 10 — (9,026 ) — 1,124,837 35,068 (1,643 ) 1,158,262 Operating income — 411,697 (1,103 ) — 410,594 Loss on debt extinguishment 25,235 — — — 25,235 Equity in (earnings) loss of subsidiaries (404,332 ) — — 404,332 — Interest expense (income), net 135,224 (175 ) 1,777 — 136,826 Income (loss) before income tax expense 243,873 411,872 (2,880 ) (404,332 ) 248,533 Income tax expense (benefit) ( 2) — 5,203 (543 ) — 4,660 Net income (loss) $ 243,873 $ 406,669 $ (2,337 ) $ (404,332 ) $ 243,873 Statement of Comprehensive Income Net income (loss) $ 243,873 $ 406,669 $ (2,337 ) $ (404,332 ) $ 243,873 Total other comprehensive income, net of tax — — 249 — 249 Total comprehensive income (loss) $ 243,873 $ 406,669 $ (2,088 ) $ (404,332 ) $ 244,122 (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 Income and Comprehensive Income for the Year Ended December 31, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income Net revenues $ — $ 1,709,691 $ 46,804 $ (2,851 ) $ 1,753,644 Operating expenses Direct advertising expenses (1) — 564,877 28,052 (2,851 ) 590,078 General and administrative expenses (1) — 310,813 7,567 — 318,380 Corporate expenses (1) — 82,652 1,577 — 84,229 Depreciation and amortization — 247,191 2,837 — 250,028 Gain on disposition of assets — (3,103 ) (4,138 ) — (7,241 ) — 1,202,430 35,895 (2,851 ) 1,235,474 Operating income — 507,261 10,909 — 518,170 Equity in (earnings) loss of subsidiaries (517,516 ) — — 517,516 — Interest expense (income), net 144,976 (149 ) 5,025 — 149,852 Income (loss) before income tax expense 372,540 507,410 5,884 (517,516 ) 368,318 Income tax (benefit) expense (2) — (7,360 ) 3,138 — (4,222 ) Net income (loss) $ 372,540 $ 514,770 $ 2,746 $ (517,516 ) $ 372,540 Statement of Comprehensive Income Net income (loss) $ 372,540 $ 514,770 $ 2,746 $ (517,516 ) $ 372,540 Total other comprehensive income, net of tax — — 673 — 673 Total comprehensive income (loss) $ 372,540 $ 514,770 $ 3,419 $ (517,516 ) $ 373,213 (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 Income and Comprehensive Income for the Year Ended December 31, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Statement of Income Net revenues $ — $ 1,579,619 $ 50,352 $ (2,749 ) $ 1,627,222 Operating expenses Direct advertising expenses (1) — 537,269 27,307 (2,728 ) 561,848 General and administrative expenses (1) — 280,874 8,554 — 289,428 Corporate expenses (1) — 80,861 1,636 — 82,497 Depreciation and amortization — 219,341 5,920 — 225,261 (Gain) loss on disposition of assets — (576 ) 7,809 — 7,233 — 1,117,769 51,226 (2,728 ) 1,166,267 Operating income (loss) — 461,850 (874 ) (21 ) 460,955 Equity in (earnings) loss of subsidiaries (450,791 ) — — 450,791 — Interest expense (income), net 129,731 (99 ) (413 ) (21 ) 129,198 Other expenses 15,429 — — — 15,429 Income (loss) before income tax expense 305,631 461,949 (461 ) (450,791 ) 316,328 Income tax expense (2) — 7,879 2,818 — 10,697 Net income (loss) $ 305,631 $ 454,070 $ (3,279 ) $ (450,791 ) $ 305,631 Statement of Comprehensive Income Net income (loss) $ 305,631 $ 454,070 $ (3,279 ) $ (450,791 ) $ 305,631 Total other comprehensive loss, net of tax — — (1,290 ) — (1,290 ) Total comprehensive income (loss) $ 305,631 $ 454,070 $ (4,569 ) $ (450,791 ) $ 304,341 (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	Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2020 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 495,872 $ 668,673 $ (5,639 ) $ (619,877 ) $ 539,029 Cash flows from investing activities: Capital expenditures — (56,772 ) (5,500 ) — (62,272 ) Acquisitions 577 (46,161 ) — — (45,584 ) Proceeds from disposition of assets and investments — 10,968 — — 10,968 Investment in subsidiaries (46,161 ) — — 46,161 — Increease in intercompany notes receivable (60,183 ) — — 60,183 — Increase in notes receivable — — — — — Net cash (used in) provided by investing activities (105,767 ) (91,965 ) (5,500 ) 106,344 (96,888 ) Cash flows from financing activities: Proceeds received from revolving credit facility 725,000 — — — 725,000 Payment on revolving credit facility (875,000 ) — — — (875,000 ) Principal payments on long term debt — (9,112 ) — — (9,112 ) Borrowings on long term debt — 8,750 — — 8,750 Proceeds received from note offering 1,549,250 — — — 1,549,250 Redemption of senior notes and senior subordinated notes (1,058,596 ) — — — (1,058,596 ) Proceeds received from senior credit facility term loans 598,500 — — — 598,500 Payments on senior credit facility term loans (978,097 ) — — — (978,097 ) Payment on accounts receivable securitization program — — (175,000 ) — (175,000 ) Proceeds received from accounts receivable securitization program — — 122,500 — 122,500 Debt issuance costs (32,950 ) — — — (32,950 ) Intercompany loan proceeds — (9,176 ) 69,359 (60,183 ) — Distributions to non-controlling interest — — (1,509 ) — (1,509 ) Dividends (to) from parent (262,437 ) (619,877 ) — 619,877 (262,437 ) Contributions from (to) parent 41,628 46,161 — (46,161 ) 41,628 Net cash (used in) provided by financing activities (292,702 ) (583,254 ) 15,350 513,533 (347,073 ) Effect of exchange rate changes in cash and cash equivalents — — 313 — 313 Net increase in cash and cash equivalents 97,403 (6,546 ) 4,524 — 95,381 Cash and cash equivalents at beginning of period 13,185 8,278 4,225 — 25,688 Cash and cash equivalents at end of period $ 110,588 $ 1,732 $ 8,749 $ — $ 121,069 Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2019 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 469,907 $ 738,030 $ 6,660 $ (609,657 ) $ 604,940 Cash flows from investing activities: Capital expenditures — (136,696 ) (4,260 ) — (140,956 ) Acquisitions — (226,278 ) — — (226,278 ) Proceeds from disposition of assets and investments — 5,438 — — 5,438 Proceeds received from insurance claims — 210 — — 210 Investment in subsidiaries (226,278 ) — — 226,278 — Decrease in intercompany notes receivable 3,787 — — (3,787 ) — Increase in notes receivable (448 ) — — — (448 ) Net cash (used in) provided by investing activities (222,939 ) (357,326 ) (4,260 ) 222,491 (362,034 ) Cash flows from financing activities: Proceeds received from revolving credit facility 495,000 — — — 495,000 Payment on revolving credit facility (625,000 ) — — — (625,000 ) Principal payments on long-term debt (34,471 ) — — — (34,471 ) Proceeds received from accounts receivable securitization program — — 9,000 — 9,000 Payments on accounts receivable securitization program — — (9,000 ) — (9,000 ) Debt issuance costs (4,463 ) — — — (4,463 ) Proceeds received from note offering 255,000 — — — 255,000 Intercompany loan proceeds (payments) — (702 ) (3,085 ) 3,787 — Distributions to non-controlling interest — — (621 ) — (621 ) Dividends (to) from parent (393,700 ) (609,657 ) — 609,657 (393,700 ) Contributions from (to) parent 69,822 226,278 — (226,278 ) 69,822 Net cash (used in) provided by financing activities (237,812 ) (384,081 ) (3,706 ) 387,166 (238,433 ) Effect of exchange rate changes in cash and cash equivalents — — 221 — 221 Net increase in cash and cash equivalents 9,156 (3,377 ) (1,085 ) — 4,694 Cash and cash equivalents at beginning of period 4,029 11,655 5,310 — 20,994 Cash and cash equivalents at end of period $ 13,185 $ 8,278 $ 4,225 $ — $ 25,688 Condensed Consolidating Statement of Cash Flows for the Year Ended December 31, 2018 Lamar Media Corp. Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Lamar Media Consolidated Cash flows from operating activities: Net cash provided by (used in) operating activities $ 430,896 $ 689,718 $ (17,143 ) $ (566,386 ) $ 537,085 Cash flows from investing activities: Acquisitions — (477,389 ) — — (477,389 ) Capital expenditures — (113,259 ) (4,379 ) — (117,638 ) Proceeds from disposition of assets and investments — 3,839 2,809 — 6,648 Proceeds received from insurance claims — — 4,222 — 4,222 Investment in subsidiaries (498,226 ) — — 498,226 — Decrease in intercompany notes receivable 30,034 — — (30,034 ) — Decrease in notes receivable 9 — — — 9 Net cash (used in) provided by investing activities (468,183 ) (586,809 ) 2,652 468,192 (584,148 ) Cash flows from financing activities: Proceeds received from revolving credit facility 563,000 — — — 563,000 Payment on revolving credit facility (481,000 ) — — — (481,000 ) Principal payments on long-term debt (27,297 ) (31 ) — — (27,328 ) Proceeds received from senior credit facility term loans 599,250 — — — 599,250 Proceeds received from accounts receivable securitization program — — 175,000 — 175,000 Debt issuance costs (7,616 ) — — — (7,616 ) Redemption on senior subordinated notes (509,790 ) — — — (509,790 ) Intercompany loan proceeds (payments) 175,000 (24,688 ) (180,346 ) 30,034 — Distributions to non-controlling interest — — (541 ) — (541 ) Contributions from (to) parent 89,967 498,226 — (498,226 ) 89,967 Dividends (to) from parent (446,744 ) (566,386 ) — 566,386 (446,744 ) Net cash (used in) provided by financing activities (45,230 ) (92,879 ) (5,887 ) 98,194 (45,802 ) Effect of exchange rate changes in cash and cash equivalents — — (1,112 ) — (1,112 ) Net increase in cash and cash equivalents (82,517 ) 10,030 (21,490 ) — (93,977 ) Cash and cash equivalents at beginning of period 86,546 1,625 26,800 — 114,971 Cash and cash equivalents at end of period $ 4,029 $ 11,655 $ 5,310 $ — $ 20,994

Description of the Business a_4

Description of the Business and Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)StateBillboardTransitReporting_Unit$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of advertising displays | Billboard	153,200
Number of states in which the company operates | State	45
Number of states in which the company operates logo sign business | State	23
Number of transit advertising displays | Transit	47,700
Number of states in which the company operates transit advertising displays | State	22
Number of reporting units | Reporting_Unit	2
REIT threshold percentage of taxable income to be distributed to stockholders	90.00%
Dividends paid in current year declared in prior period			$ 81,534
Dividends paid in current year declared in prior period, per share | $ / shares			$ 0.83
Dividends declared	$ 251,944	$ 384,817
Dividends declared, per share | $ / shares	$ 2.50	$ 3.84	$ 3.65
Distributions accrued, preferred stockholders				$ 91
Distributions accrued, preferred stockholders, per share | $ / shares				$ 15.95
Distributions paid, preferred stockholders	$ 365	$ 365	$ 456
Distributions paid, preferred stockholders, per share | $ / shares	$ 63.80	$ 63.80	$ 79.75
The number of dilutive shares excluded from calculation of basic earnings per share resulting from the anti-dilutive effect for stock options | shares	0	0	0
Non cash compensation expense	$ 18,772	$ 29,647	$ 29,443
Investment maturity period	three months or less
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of advertising displays | Billboard	153,200
Number of states in which the company operates | State	45
Number of states in which the company operates logo sign business | State	23
Non cash compensation expense	$ 18,772	29,647	29,443
Stock Options and Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non cash compensation expense	4,249
Performance-Based Stock Incentive Program [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non cash compensation expense	12,602
Non-Performance Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non cash compensation expense	1,451
Restricted Stock Awards to Directors [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Non cash compensation expense	470
Taxable Income Distribution [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Distributions paid	$ 251,944	$ 384,817	$ 442,632
Distributions paid, per share | $ / shares	$ 2.50	$ 3.84	$ 4.48
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated useful lives of Intangible assets	2 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated useful lives of Intangible assets	15 years

Description of the Business a_5

Description of the Business and Significant Accounting Policies - Revenue and Expense Recognized for Advertising Barter Transactions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Net revenues	$ 8,088	$ 9,636	$ 8,955
Direct advertising expenses	3,971	3,982	3,633
General and administrative expenses	$ 3,144	$ 4,986	$ 4,758

Revenues - Additional Informati

Revenues - Additional Information (Details) - ASC 606 [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Direct Advertising Expenses (Exclusive of Depreciation and Amortization) [Member]
Capitalized Contract Cost [Line Items]
Contract cost expense net	$ 23,085	$ 15,734
Other Current Assets [Member]
Capitalized Contract Cost [Line Items]
Capitalized contract cost, net current	$ 22,698	$ 24,920

Revenues - Disaggregation Reven

Revenues - Disaggregation Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Net revenues	$ 428,525	$ 386,110	$ 347,652	$ 406,569	$ 462,659	$ 457,786	$ 448,742	$ 384,457	$ 1,568,856	$ 1,753,644	$ 1,627,222
Billboard Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net revenues									1,403,239	1,537,542	1,412,978
Logo Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net revenues									82,944	84,201	84,424
Transit Advertising [Member]
Disaggregation Of Revenue [Line Items]
Net revenues									$ 82,673	$ 131,901	$ 129,820

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Total purchase price of outdoor advertising assets	$ 46,160
Purchase price, cash	45,584
Purchase price, non cash consideration	576
Portion of acquired intangible assets assigned to goodwill	1,912,328	$ 1,912,274
2020 Acquisitions [Member]
Business Acquisition [Line Items]
Total purchase price of outdoor advertising assets	$ 46,160
Weighted average useful life	14 years
Aggregate amortization expense related to acquisition	$ 1,356
2020 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Weighted average useful life	7 years
Total acquired intangible assets	$ 3,979
2020 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Weighted average useful life	15 years
Total acquired intangible assets	$ 27,902
2019 Acquisitions [Member]
Business Acquisition [Line Items]
Total purchase price of outdoor advertising assets		226,278
Total purchase price of outdoor advertising assets		$ 227,588
Weighted average useful life		14 years
Aggregate amortization expense related to acquisition		$ 7,570
Cash acquired in acquisitions		1,508
Total acquired intangible assets		187,711
Portion of acquired intangible assets assigned to goodwill		29,360
Amount deductible for tax purposes		0
Total acquired intangible assets		$ 158,351
2019 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Weighted average useful life		7 years
Total acquired intangible assets		$ 23,032
2019 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Weighted average useful life		15 years
Total acquired intangible assets		$ 131,208
Fairway Outdoor Advertising [Member]
Business Acquisition [Line Items]
Post-closing adjustments to acquired working capital related to purchase		1,310
Portion of acquired assets assigned to property, plant and equipment		96,840
Portion of acquired assets assigned to intangibles		188,400
Portion of acquired assets assigned to intangibles		145,534
Reduction to preliminary purchase price allocation of goodwill		36,583
Income tax benefit recorded in deferred tax liabilities		17,031
July 15, 2019 Acquisitions [Member]
Business Acquisition [Line Items]
Total purchase price of outdoor advertising assets		$ 127,000

Acquisitions - Summary of Alloc

Acquisitions - Summary of Allocation of Purchase Price/Acquisition Costs (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 1,912,328	$ 1,912,274
2020 Acquisitions [Member]
Business Acquisition [Line Items]
Property, plant and equipment	13,376
Asset acquisition costs	154
Current assets	3
Current liabilities	(295)
Operating right of use assets	7,269
Operating lease liabilities	(6,368)
Total	46,160
2020 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	27,902
2020 Acquisitions [Member] | Non-competition Agreements [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	140
2020 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Finite lived intangible assets	$ 3,979
2019 Acquisitions [Member]
Business Acquisition [Line Items]
Property, plant and equipment		37,988
Asset acquisition costs		756
Goodwill		29,360
Current assets		1,860
Current liabilities		(832)
Operating right of use assets		23,934
Operating lease liabilities		(21,573)
Other liabilities		(1,500)
Total		227,588
2019 Acquisitions [Member] | Site Locations [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		131,208
2019 Acquisitions [Member] | Non-competition Agreements [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		240
2019 Acquisitions [Member] | Customer Lists and Contracts [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		23,032
2019 Acquisitions [Member] | Other Intangibles [Member]
Business Acquisition [Line Items]
Finite lived intangible assets		$ 3,115

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Financial Information (Detail) - 2019 Acquisitions [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Net revenues	$ 1,764,493	$ 1,724,821
Net income applicable to common stock	$ 369,300	$ 292,012
Net income per common share — basic	$ 3.69	$ 2.96
Net income per common share — diluted	$ 3.68	$ 2.95

Non-cash Financing and Invest_2

Non-cash Financing and Investing Activities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Disclosure Of Non Cash Investing And Financing Information [Line Items]
Non-cash investing activities		$ 0
Non cash financing activities related to financing lease liabilities	$ 19,891,000
Non-cash financing activity		$ 0	$ 0
Common Class A [Member]
Supplemental Disclosure Of Non Cash Investing And Financing Information [Line Items]
Issuance of shares related to acquisition			163,137
Issuance of shares related to acquisition, value			$ 12,282,000

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Major Categories of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 3,615,505	$ 3,660,311
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 413,257	406,884
Land [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	0 years
Land [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	0 years
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 187,921	181,797
Building and Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	10 years
Building and Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	39 years
Advertising Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 2,880,521	2,926,706
Advertising Structures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	5 years
Advertising Structures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	15 years
Automotive and Other Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 133,806	$ 144,924
Automotive and Other Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	3 years
Automotive and Other Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, Estimated life	7 years

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,174,658	$ 3,142,112
Accumulated Amortization	2,260,212	2,149,868
Goodwill gross carrying amount	2,165,864	2,165,810	$ 2,172,922
Goodwill accumulated amortization	253,536	253,536
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,174,112	3,141,566
Accumulated Amortization	2,260,134	2,149,790
Goodwill gross carrying amount	2,154,844	2,154,790	$ 2,161,902
Goodwill accumulated amortization	$ 252,667	252,667
Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	2 years
Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Customer Lists and Contracts [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 645,739	641,714
Accumulated Amortization	563,135	539,405
Customer Lists and Contracts [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	645,739	641,714
Accumulated Amortization	$ 563,135	539,405
Customer Lists and Contracts [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	7 years
Customer Lists and Contracts [Member] | Minimum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	7 years
Customer Lists and Contracts [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	10 years
Customer Lists and Contracts [Member] | Maximum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	10 years
Non-competition Agreements [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 66,156	66,014
Accumulated Amortization	64,647	64,379
Non-competition Agreements [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	66,156	66,014
Accumulated Amortization	$ 64,647	64,379
Non-competition Agreements [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	3 years
Non-competition Agreements [Member] | Minimum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	3 years
Non-competition Agreements [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Non-competition Agreements [Member] | Maximum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Site Locations [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Gross Carrying Amount	$ 2,412,745	2,384,520
Accumulated Amortization	1,593,805	1,509,335
Site Locations [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,412,745	2,384,520
Accumulated Amortization	$ 1,593,805	1,509,335
Site Locations [Member] | Maximum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Other Intangibles [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 50,018	49,864
Accumulated Amortization	38,625	36,749
Other Intangibles [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	49,472	49,318
Accumulated Amortization	$ 38,547	$ 36,671
Other Intangibles [Member] | Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	2 years
Other Intangibles [Member] | Minimum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	2 years
Other Intangibles [Member] | Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years
Other Intangibles [Member] | Maximum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Finite Lived Intangible Assets [Line Items]
Estimated Life (Years)	15 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Changes in Gross Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill, beginning balance	$ 2,165,810	$ 2,172,922
Goodwill acquired during the year		29,360
Purchase price adjustments and other	54	(36,472)
Impairment losses		0
Goodwill, ending balance	2,165,864	2,165,810
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Goodwill [Line Items]
Goodwill, beginning balance	2,154,790	2,161,902
Goodwill acquired during the year		29,360
Purchase price adjustments and other	54	(36,472)
Impairment losses		0
Goodwill, ending balance	$ 2,154,844	$ 2,154,790

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 110,201	$ 113,679	$ 95,010

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Summary of Estimated Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
2021	$ 106,816
2022	101,964
2023	91,133
2024	87,320
2025	83,959
Thereafter	443,254
Total	$ 914,446	$ 992,244

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee Lease Description [Line Items]
Base operating lease, cost	$ 298,135	$ 312,883
Variable operating lease, cost	69,242	76,492
Operating lease, cost	367,377	389,375	$ 381,890
Gain on disposition of assets	9,026	7,241	(7,233)
Operating lease, cash payments	286,575	316,527
Direct advertising expenses (exclusive of depreciation and amortization)	$ 557,661	590,078	$ 561,848
Operating lease, weighted average remaining lease term	11 years 9 months 18 days
Operating lease, weighted average discount rate	4.70%
Leased assets obtained in exchange for operating lease liability	$ 25,264
Right-of-Use asset obtained in exchange for finance lease liability	$ 19,891
Finance lease, liability		0
Finance lease, weighted average remaining lease term	6 years 10 months 24 days
Finance lease, weighted average discount rate, percent	3.10%
Finance lease amortization	$ 222
Interest expenses	47
Advertising [Member]
Lessee Lease Description [Line Items]
Direct advertising expenses (exclusive of depreciation and amortization)	4,953	4,691
Termination of Lease Agreements [Member]
Lessee Lease Description [Line Items]
Gain on disposition of assets	$ 451	$ 4,061

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2021	$ 228,135
2022	182,214
2023	162,163
2024	145,750
2025	122,384
Thereafter	757,576
Total undiscounted operating lease payments	1,598,222
Less: Imputed interest	(409,007)
Total operating lease liabilities	$ 1,189,215

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts Payable And Accrued Liabilities Current [Line Items]
Payroll	$ 17,034	$ 20,223
Interest	33,583	32,734
Insurance benefits	12,499	11,554
Accrued variable lease and contract expense	19,274	12,559
Stock-based compensation	11,589	23,297
Other	11,309	6,858
Total	105,288	107,225
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Accounts Payable And Accrued Liabilities Current [Line Items]
Payroll	17,034	20,223
Interest	33,583	32,734
Accrued variable lease and contract expense	19,274	12,559
Stock-based compensation	11,589	23,297
Other	16,998	12,453
Total	$ 98,478	$ 101,266

Long-term Debt - Long-Term Debt

Long-term Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt	$ 2,926,633	$ 3,004,532
Debt, Less current maturities	(122,879)	(232,595)
Debt, excluding current maturities	2,803,754	2,771,937
Deferred financing costs	40,117	24,414
Deferred financing costs, Less current maturities	(445)	(6,081)
Deferred financing costs, excluding current maturities	39,672	18,333
Debt, net of deferred financing costs	2,886,516	2,980,118
Debt, net of deferred financing costs, Less current maturities	(122,434)	(226,514)
Long-term debt, net of deferred financing costs	2,764,082	2,753,604
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	2,926,633	3,004,532
Debt, Less current maturities	(122,879)	(232,595)
Debt, excluding current maturities	2,803,754	2,771,937
Deferred financing costs	40,117	24,414
Deferred financing costs, Less current maturities	(445)	(6,081)
Deferred financing costs, excluding current maturities	39,672	18,333
Debt, net of deferred financing costs	2,886,516	2,980,118
Debt, net of deferred financing costs, Less current maturities	(122,434)	(226,514)
Long-term debt, net of deferred financing costs	2,764,082	2,753,604
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt	598,466	1,127,069
Deferred financing costs	11,569	9,077
Debt, net of deferred financing costs	586,897	1,117,992
Senior Credit Facility [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	598,466	1,127,069
Deferred financing costs	11,569	9,077
Debt, net of deferred financing costs	586,897	1,117,992
Accounts Receivable Securitization Program [Member]
Debt Instrument [Line Items]
Debt	122,500	175,000
Deferred financing costs	445	846
Debt, net of deferred financing costs	122,055	174,154
Accounts Receivable Securitization Program [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	122,500	175,000
Deferred financing costs	445	846
Debt, net of deferred financing costs	122,055	174,154
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Debt		535,000
Deferred financing costs		3,237
Debt, net of deferred financing costs		531,763
5% Senior Subordinated Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt		535,000
Deferred financing costs		3,237
Debt, net of deferred financing costs		531,763
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt		510,000
Deferred financing costs		3,502
Debt, net of deferred financing costs		506,498
5 3/8% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt		510,000
Deferred financing costs		3,502
Debt, net of deferred financing costs		506,498
3 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	600,000
Deferred financing costs	8,031
Debt, net of deferred financing costs	591,969
3 3/4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	600,000
Deferred financing costs	8,031
Debt, net of deferred financing costs	591,969
4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	549,280
Deferred financing costs	7,911
Debt, net of deferred financing costs	541,369
4 7/8% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	400,000
Deferred financing costs	5,586
Debt, net of deferred financing costs	394,414
4 7/8% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	400,000
Deferred financing costs	5,586
Debt, net of deferred financing costs	394,414
Other Notes with Various Rates and Terms [Member]
Debt Instrument [Line Items]
Debt	2,756	3,118
Debt, net of deferred financing costs	2,756	3,118
Other Notes with Various Rates and Terms [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	2,756	3,118
Debt, net of deferred financing costs	2,756	3,118
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Debt	653,631	654,345
Deferred financing costs	6,575	7,752
Debt, net of deferred financing costs	647,056	646,593
5 3/4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	653,631	654,345
Deferred financing costs	6,575	7,752
Debt, net of deferred financing costs	647,056	$ 646,593
4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Debt	549,280
Deferred financing costs	7,911
Debt, net of deferred financing costs	$ 541,369

Long-term Debt - Long-Term De_2

Long-term Debt - Long-Term Debt (Parenthetical) (Detail)	Dec. 31, 2020	Feb. 06, 2020	Dec. 31, 2019	Jan. 28, 2016	Jan. 10, 2014	Oct. 30, 2012
3 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	3.75%	3.75%
3 3/4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	3.75%
4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	4.00%	4.00%
4 7/8% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	4.875%
4 7/8% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	4.875%
5 3/4% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.75%		5.75%	5.75%
5 3/4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	5.75%		5.75%
5% Senior Subordinated Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes			5.00%			5.00%
5% Senior Subordinated Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Interest rate on senior notes			5.00%
5 3/8% Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes			5.375%		5.375%
5 3/8% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Interest rate on senior notes			5.375%
4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	4.00%

Long-term Debt - Summary of Lon

Long-term Debt - Summary of Long-Term Debt Contractual Maturities (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Debt [Member]
Debt Instrument [Line Items]
2021	$ 122,879
2022	362
2023	381
2024	400
2025	420
Later years	2,802,191
Debt [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
2021	122,879
2022	362
2023	381
2024	400
2025	420
Later years	2,802,191
Deferred Financing Costs [Member]
Debt Instrument [Line Items]
2021	445
2025	4,464
Later years	35,208
Deferred Financing Costs [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
2021	445
2025	4,464
Later years	35,208
Debt Net of Deferred Financing Costs [Member]
Debt Instrument [Line Items]
2021	122,434
2022	362
2023	381
2024	400
2025	(4,044)
Later years	2,766,983
Debt Net of Deferred Financing Costs [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Debt Instrument [Line Items]
2021	122,434
2022	362
2023	381
2024	400
2025	(4,044)
Later years	$ 2,766,983

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail)

Feb. 03, 2021

Oct. 23, 2020

Sep. 16, 2020USD ($)

Aug. 31, 2020USD ($)

Aug. 19, 2020USD ($)

May 13, 2020USD ($)

Feb. 20, 2020

Feb. 06, 2020USD ($)

Feb. 06, 2020USD ($)

Feb. 01, 2019USD ($)

Dec. 18, 2018USD ($)

Jan. 28, 2016USD ($)

Jan. 10, 2014USD ($)

Oct. 30, 2012USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2018USD ($)

Jan. 22, 2021

Mar. 16, 2020USD ($)

Dec. 31, 2019USD ($)

Mar. 16, 2018

Debt Instrument [Line Items]

Debt instrument description

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”).

Proceeds received from senior credit facility term loans

$ 598,500,000

$ 599,250,000

Loss on debt extinguishment

25,235,000

15,429,000

Outstanding revolving credit facility

0

Remaining borrowing capacity under revolving credit facility

736,030,000

Aggregate principal amount of debt issued

2,926,633,000

Debt instrument outstanding amount

2,926,633,000

$ 3,004,532,000

Letter of Credit [Member]

Debt Instrument [Line Items]

Letter of credit outstanding balance

13,970,000

LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Proceeds received from senior credit facility term loans

598,500,000

599,250,000

Loss on debt extinguishment

25,235,000

$ 15,429,000

Debt instrument outstanding amount

2,926,633,000

3,004,532,000

Senior Credit Facility [Member]

Debt Instrument [Line Items]

Loss on debt extinguishment

$ 5,608,000

3 3/4% Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.75%

3.75%

3.75%

Debt instrument outstanding amount

$ 600,000,000

Redeemed percentage of aggregate principal amount

103.75%

Redemption percentage of aggregate principal amount of senior notes

40.00%

Redemption percentage of issued notes which remain outstanding

60.00%

3 3/4% Senior Notes [Member] | Prior to February 15, 2023 [Member]

Debt Instrument [Line Items]

Redeemed percentage of aggregate principal amount

100.00%

Redemption price percentage of the principal amount to be purchased

101.00%

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

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.75%

3.75%

Aggregate principal amount of debt issued

$ 600,000,000

$ 600,000,000

Net proceeds form the issuance of debt

$ 592,500,000

3 3/4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.75%

Debt instrument outstanding amount

$ 600,000,000

4% Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.00%

4.00%

4.00%

Debt instrument outstanding amount

$ 549,280,000

Redemption price percentage of the principal amount to be purchased

101.00%

4% Senior Notes [Member] | Prior to February 1, 2021 [Member]

Debt Instrument [Line Items]

Redeemed percentage of aggregate principal amount

100.00%

4% Senior Notes [Member] | Prior to February 15, 2023 [Member]

Debt Instrument [Line Items]

Redeemed percentage of aggregate principal amount

104.00%

Redemption percentage of aggregate principal amount of senior notes

40.00%

Redemption percentage of issued notes which remain outstanding

60.00%

4% Senior Notes [Member] | Private Placement [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.00%

4.00%

4.00%

Aggregate principal amount of debt issued

$ 150,000,000

$ 400,000,000

$ 400,000,000

Net proceeds form the issuance of debt

$ 146,900,000

395,000,000

Accounts Receivable Securitization Program [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Dec. 17, 2021

Aggregate principal amount of debt issued

$ 175,000,000

Increase in delinquency ratio

11.00%

Delinquency ratio

8.00%

Increase in dilution ratio

7.00%

Dilution ratio

4.00%

Increase in days sales outstanding

75

Number of days sales outstanding

65

Percentage of commitment to maintain minimum borrowings

70.00%

50.00%

Minimum Funding Threshold

requires the Special Purpose Subsidiaries to maintain minimum borrowings under the Accounts Receivable Securitization Program on any day equal to the lesser of (i) 70.00% of the aggregate Commitment of all Lenders or (ii) the Borrowing Base, though the Special Purpose Subsidiaries had the right to borrow less than the Minimum Funding Threshold during certain periods prior to December 21, 2020 at their election.

requires the Special Purpose Subsidiaries to maintain minimum borrowings under the

Delinquency ratio

13.00%

Dilution ratio

5.00%

Debt instrument outstanding amount

$ 122,500,000

175,000,000

Accounts Receivable Securitization Program [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt instrument outstanding amount

122,500,000

$ 175,000,000

Available borrowing on accounts receivable securitization

52,500,000

Accounts Receivable Securitization Program [Member] | For Up To Two Additional Periods [Member]

Debt Instrument [Line Items]

Delinquency ratio

16.00%

5% Senior Subordinated Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.00%

5.00%

Loss on debt extinguishment

7,051,000

Aggregate principal amount of debt issued

$ 535,000,000

Debt instrument outstanding amount

$ 535,000,000

Net proceeds form the issuance of debt

$ 527,100,000

Debt Instrument Redemption Amount

$ 267,500,000

$ 267,500,000

Redeemed percentage of aggregate principal amount

100.833%

100.833%

Loss on debt extinguishment on cash

4,456,000

5% Senior Subordinated Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.00%

Debt instrument outstanding amount

$ 535,000,000

5 3/8% Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.375%

5.375%

Loss on debt extinguishment

12,576,000

Aggregate principal amount of debt issued

$ 510,000,000

Debt instrument outstanding amount

$ 510,000,000

Net proceeds form the issuance of debt

$ 502,300,000

Redeemed percentage of aggregate principal amount

101.792%

Loss on debt extinguishment on cash

$ 9,139,000

Redemption, description

Lamar Media used the proceeds from the 4% Senior Notes (defined below) and 3 3/4% Senior Notes (defined below) to redeem in full all of the 5 3/8% Notes on February 20, 2020 at a redemption price of 101.792% of the aggregate principal amounts of the outstanding 5 3/8% Notes, plus accrued and unpaid interest up to but not including the redemption date

5 3/8% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.375%

Debt instrument outstanding amount

$ 510,000,000

5 3/4% Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.75%

5.75%

5.75%

Aggregate principal amount of debt issued

$ 400,000,000

Debt instrument outstanding amount

$ 653,631,000

$ 654,345,000

Net proceeds form the issuance of debt

$ 394,500,000

Redemption price percentage of the principal amount to be purchased

101.00%

5 3/4% Senior Notes [Member] | Subsequent Event

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.75%

Subsequent Event, Description

On February 3, 2021, the Company subsequently redeemed in full all outstanding 5 3/4% Senior Notes

5 3/4% Senior Notes [Member] | Prior to February 1, 2021 [Member]

Debt Instrument [Line Items]

Redeemed percentage of aggregate principal amount

100.00%

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

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.75%

Aggregate principal amount of debt issued

$ 250,000,000

Net proceeds form the issuance of debt

$ 251,500,000

5 3/4% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

5.75%

5.75%

Debt instrument outstanding amount

$ 653,631,000

$ 654,345,000

4 7/8% Senior Notes [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.875%

Debt instrument outstanding amount

$ 400,000,000

Redeemed percentage of aggregate principal amount

104.875%

Redemption percentage of aggregate principal amount of senior notes

40.00%

Redemption percentage of issued notes which remain outstanding

60.00%

4 7/8% Senior Notes [Member] | Prior to February 15, 2023 [Member]

Debt Instrument [Line Items]

Redeemed percentage of aggregate principal amount

100.00%

Redemption price percentage of the principal amount to be purchased

101.00%

4 7/8% Senior Notes [Member] | Private Placement [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.875%

Aggregate principal amount of debt issued

$ 400,000,000

Net proceeds form the issuance of debt

$ 395,000,000

4 7/8% Senior Notes [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

4.875%

Debt instrument outstanding amount

$ 400,000,000

Senior or Senior Subordinated Notes and other Indebtedness [Member] | Debt Instrument Repurchase Program [Member]

Debt Instrument [Line Items]

Debt repurchase program, authorized amount

$ 250,000,000

Debt instrument repurchase expiry date

Sep. 30, 2021

Debt instrument repurchased under the program

$ 0

Senior Credit Facility [Member]

Debt Instrument [Line Items]

Maximum borrowing limit of incremental loan facility

$ 750,000,000

750,000,000

Debt instrument maturity date

Feb. 6, 2025

Term B Loan Facility [Member]

Debt Instrument [Line Items]

Maximum borrowing limit of incremental loan facility

$ 600,000,000

$ 600,000,000

Debt instrument maturity date

Feb. 6, 2027

Proceeds received from senior credit facility term loans

$ 600,000,000

Term B Loan Facility [Member] | LIBO Rate [Member]

Debt Instrument [Line Items]

Adjusted Rate

1.50%

Term B Loan Facility [Member] | Base Rate [Member]

Debt Instrument [Line Items]

Adjusted Rate

0.50%

Revolving Credit Facility [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]

Debt Instrument [Line Items]

Debt instrument maturity date

Feb. 6, 2025

Revolving Credit Facility [Member] | LIBO Rate [Member]

Debt Instrument [Line Items]

Secured debt ratio

3.25

Adjusted Rate

1.50%

Ratio of indebtedness to net capital minimum

1

Revolving Credit Facility [Member] | LIBO Rate [Member] | Debt Ratio Less Than Four Point Two Five [Member]

Debt Instrument [Line Items]

Adjusted Rate

1.25%

Revolving Credit Facility [Member] | Base Rate [Member]

Debt Instrument [Line Items]

Secured debt ratio

3.25

Adjusted Rate

0.50%

Ratio of indebtedness to net capital minimum

1

Revolving Credit Facility [Member] | Base Rate [Member] | Debt Ratio Less Than Four Point Two Five [Member]

Debt Instrument [Line Items]

Adjusted Rate

0.25%

Revolving Credit Facility [Member] | Secured Debt [Member]

Debt Instrument [Line Items]

Secured debt ratio

4.50

4.50

Asset Retirement Obligation - I

Asset Retirement Obligation - Information Related to Asset Retirement Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Beginning Balance	$ 226,137	$ 222,989
Additions to asset retirement obligations	658	2,529
Accretion expense	4,135	4,260
Liabilities settled	(8,054)	(3,641)
Ending Balance	$ 222,876	$ 226,137

Depreciation and Amortization -

Depreciation and Amortization - Depreciation and Amortization Expense Excluded from Operating Expenses in its Consolidated Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 251,296	$ 250,028	$ 225,261
Direct Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	236,054	235,544	212,585
General and Administrative Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	4,996	4,416	4,134
Corporate Expenses [Member]
Depreciation and Amortization Expense [Line Items]
Depreciation and amortization	$ 10,246	$ 10,068	$ 8,542

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. federal, Current	$ 2,997	$ 6,045	$ 4,952
State and local, Current	1,940	2,699	2,615
Foreign, Current	520	1,164	1,592
Total Current	5,457	9,908	9,159
U.S. federal, Deferred	(45)	(13,450)	435
State and local, Deferred	311	(2,654)	(123)
Foreign, Deferred	(1,063)	1,974	1,226
Total, Deferred	(797)	(14,130)	1,538
U.S. federal, Total	2,952	(7,405)	5,387
State and local, Total	2,251	45	2,492
Foreign, Total	(543)	3,138	2,818
Income tax expense	$ 4,660	$ (4,222)	$ 10,697

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax [Line Items]
Income taxes payable	$ 4,707,000	$ 384,000
Income tax rate	21.00%	21.00%	21.00%
Remaining minimum tax credit carryforward, cash benefit	$ 2,054,000
Net change in total state valuation allowance	2,226,000	$ 1,032,000
Valuation allowance for deferred tax assets	20,997,000	22,902,000
Undistributed earnings of subsidiaries	21,126,000
Deferred tax liabilities foreign withholding taxes	1,056,000	1,191,000
Current income tax expense (benefit) related to current period earnings	152,000
Unrecognized tax benefits	4,966,000	4,450,000	$ 3,207,000
Income tax penalties and interest expense	173,000	334,000
Expect to decrease in unrecognized tax benefits in next twelve months	1,340,000
State and Local Jurisdiction [Member]
Income Tax [Line Items]
Net operating loss carry forwards	991,054,000
Amounts of credits available to offset income tax	117,000
Valuation allowance for deferred tax assets	321,000	0
Net change in total state valuation allowance	320,000	0
Foreign Tax Authority
Income Tax [Line Items]
Net operating loss carry forwards	44,207,000
Amounts of credits available to offset income tax	$ 179,000
Earliest Tax Year [Member] | Foreign Tax Authority
Income Tax [Line Items]
Operating loss carryforwards expiration start year	2021
Latest Tax Year [Member] | Foreign Tax Authority
Income Tax [Line Items]
Operating loss carryforwards expiration start year	2029
US [Member]
Income Tax [Line Items]
Net operating loss carry forwards	$ 236,584,000
Amounts of credits available to offset income tax	$ 1,205,000
US [Member] | Earliest Tax Year [Member]
Income Tax [Line Items]
Operating loss carryforwards expiration start year	2027
US [Member] | Latest Tax Year [Member]
Income Tax [Line Items]
Operating loss carryforwards expiration start year	2037
Internal Revenue Service IRS [Member]
Income Tax [Line Items]
Net operating loss carry forwards	$ 38,250,000
Puerto Rico Corporate [Member]
Income Tax [Line Items]
Valuation allowance for deferred tax assets	$ 20,676,000	$ 22,902,000

Income Taxes - U.S. and Foreign

Income Taxes - U.S. and Foreign Components of Earnings Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S.	$ 249,714	$ 357,445	$ 317,695
Foreign	(1,668)	10,444	(1,766)
Income before income tax expense (benefit)	$ 248,046	$ 367,889	$ 315,929

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense at U.S. federal statutory rate	$ 52,090	$ 77,257	$ 66,345
Tax adjustment related to REIT	(50,395)	(70,619)	(63,669)
State and local income taxes, net of federal income tax benefit	1,222	2,039	1,461
Book expenses not deductible for tax purposes	3,156	4,144	1,926
Stock-based compensation	(2,033)	(1,177)	1,090
Valuation allowance	(1,031)	(1,032)	3,813
Rate change	(182)		(80)
Undistributed earnings of foreign subsidiaries	(78)	(102)	(393)
Deferred tax adjustment due to REIT conversion		(17,031)
Other differences, net	1,911	2,299	204
Income tax expense	$ 4,660	$ (4,222)	$ 10,697

Income Taxes - Schedule of Ef_2

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Effective Income Tax Rate Reconciliation [Line Items]
Tax adjustment related dividend paid deduction	$ 52,985	$ 76,688	$ 69,818
Valuation allowance	$ (1,031)	$ (1,032)	$ 3,813
Income tax rate	21.00%	21.00%	21.00%
Rate change	$ (182)		$ (80)
Recognized a deferred tax charge for future foreign withholding taxes related to undistributed earnings	(78)	$ (102)	(393)
Deferred tax adjustment due to REIT conversion		(17,031)
Puerto Rico Corporate [Member]
Schedule Of Effective Income Tax Rate Reconciliation [Line Items]
Rate change	$ (182)
Puerto Rico Corporate [Member] | Maximum [Member]
Schedule Of Effective Income Tax Rate Reconciliation [Line Items]
Income tax rate	39.00%
Puerto Rico Corporate [Member] | Minimum [Member]
Schedule Of Effective Income Tax Rate Reconciliation [Line Items]
Income tax rate	37.50%
Puerto Rico [Member]
Schedule Of Effective Income Tax Rate Reconciliation [Line Items]
Valuation allowance	$ (1,031)	$ (1,032)	$ 3,813

Income Taxes - Components of De

Income Taxes - Components of Deferred Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Allowance for doubtful accounts	$ 328	$ 499
Accrued liabilities not deducted for tax purposes	3,358	3,431
Net operating loss carry forwards	18,803	19,522
Tax credit carry forwards	693	1,140
Charitable contributions carry forward	4	5
Investment in partnerships	367	382
Gross deferred tax assets	23,553	24,979
Less: valuation allowance	(20,997)	(22,902)
Net deferred tax assets	2,556	2,077
Deferred tax liabilities:
Intangibles	(5,443)	(5,898)
Property, plant and equipment	(911)	(701)
Undistributed earnings of foreign subsidiaries	(1,056)	(1,191)
Gross deferred tax liabilities	(7,410)	(7,790)
Net deferred tax liabilities	$ (4,854)	$ (5,713)

Income Taxes - Reconciliation U

Income Taxes - Reconciliation Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 4,450	$ 3,207
Additions for tax positions related to current year	862	974
Additions for tax positions related to prior years	667	386
Lapse of statute of limitations	(1,013)	(117)
Ending balance	$ 4,966	$ 4,450

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Receivables from employees and executive officers	$ 0	$ 0
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Related Party Transaction [Line Items]
Amount payable to parent company	3,928,000	4,779,000
Amount contributed to affiliate	$ 41,628,000	69,822,000
Sean E. Reilly and Kevin P. Reilly, Jr. [Member] | RTC Holdings, LLC [Member]
Related Party Transaction [Line Items]
Ownership interest in limited liability company	100.00%
Chief Executive Officer, Chairman of Board of Directors, President and Families [Member] | RTC Holdings, LLC [Member]
Related Party Transaction [Line Items]
Ownership interest in limited liability company	89.00%
EATEL CORP, LLC [Member] | RTC Holdings, LLC [Member]
Related Party Transaction [Line Items]
Aggregate amount paid on backup-recovery services	$ 311,000	302,000
Advertising services aggregate amount	$ 134,000	$ 137,000
Reilly Family, LLC [Member] | RTC Holdings, LLC [Member]
Related Party Transaction [Line Items]
Ownership interest in limited liability company	11.00%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jul. 16, 1999	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 16, 2020	May 01, 2018
Class of Stock [Line Items]
Liquidation value of outstanding preferred stock		$ 3,649
Preferred stock voting right		Series AA preferred stock is entitled to one vote per share.
Class B common stock voting rights		holders of Class B common stock have ten votes per share on all matters in which the holders of common stock are entitled to vote and holders of Class A common stock have one vote per share on such matters.
Shares issued			266,410	576,002
Shelf Registration [Member]
Class of Stock [Line Items]
Shares issued		0	0
Series AA Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	5,720	5,720	5,720
Preferred stock, par value	$ 0.001	$ 0.001	$ 0.001
Dividends paid to preferred stock	15.95
Amount entitled	$ 638
Preferred Class A [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000
Common Class A [Member]
Class of Stock [Line Items]
Common stock, par value		$ 0.001	$ 0.001			$ 0.001
Issuance of shares related to acquisition				163,137
Common Class A [Member] | Stock Repurchase Program [Member]
Class of Stock [Line Items]
Stock repurchase program, authorized amount					$ 250,000
Stock repurchase program expiry date		Sep. 30, 2021
Stock repurchased during period		$ 0
Common Class A [Member] | Equity Distribution Agreement [Member]
Class of Stock [Line Items]
Common stock, shares sold		842,412
Common stock, shares available to be sold		$ 336,668
Common Class A [Member] | Maximum [Member]
Class of Stock [Line Items]
Aggregate offering price of common stock issuable						$ 400,000

Stock Compensation Plans - Addi

Stock Compensation Plans - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting terms	vesting terms ranging from three to five years which primarily includes 1) options that vest in one-fifth increments beginning on the grant date and continuing on each of the first four anniversaries of the grant date and 2) options that cliff-vest on the fifth anniversary of the grant date.
Period of graded vesting for option valuation	4 years
Period of cliff vesting for option valuation	5 years
Expected dividend yield	5.00%	5.00%	5.00%
Total unrecognized compensation cost related to nonvested awards	$ 2,544
Weighted average number of years over which compensation cost related to nonvested awards is expected to be recognized	1 year 7 months 13 days
Shares available for future stock option and restricted share grants to employees and directors under existing plans	2,435,451
Aggregate intrinsic value of options outstanding	$ 13,824
Aggregate intrinsic value of options exercisable	11,927
Total intrinsic value of options exercised	1,644
Accrued expenses, liability	$ 11,589	$ 23,297
Common Class A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Volatility	90.00%
Volatility rate on publicly traded options	10.00%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	5 years
1996 Equity Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares reserved for issuance to directors and employees	17,500,000
1996 Equity Incentive Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	0.00%
1996 Equity Incentive Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of awards of target number of share	100.00%
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved	86,093
Performance Based Compensation [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense related to performance based compensation agreements	$ 10,484
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration date of options granted under equity incentive plan	10 years

Stock Compensation Plans - Weig

Stock Compensation Plans - Weighted Average Fair Value of Options Granted (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Dividend Yield	5.00%	5.00%	5.00%
Expected Volatility	45.00%	46.00%	46.00%
Risk Free Interest Rate	2.00%	2.00%	2.00%
Expected Lives	6 years	6 years	6 years

Stock Compensation Plans - Stoc

Stock Compensation Plans - Stock Option Transactions Under Various Stock-Based Employee Compensation Plans (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Outstanding, Beginning Balance, Shares	608,375
Granted, Shares	63,500
Exercised, Shares	(61,949)	(340,684)	(361,618)
Expired, Shares	(11,000)
Outstanding, Ending Balance, Shares	598,926	608,375
Exercisable, Ending Balance, Shares	422,626
Outstanding, Beginning Balance, Weighted Average Exercise Price	$ 57.97
Granted, Weighted Average Exercise Price	71.91
Exercised, Weighted-Average Exercise Price	50.66
Expired, Weighted Average Exercise Price	50.81
Outstanding, Ending Balance, Weighted Average Exercise Price	60.34	$ 57.97
Exercisable, Ending Balance, Weighted Average Exercise Price	$ 55.06
Outstanding, Ending balance, Weighted Average Remaining Contractual Term	5 years 5 months 1 day
Exercisable, Ending Balance, Weighted Average Remaining Contractual Term	4 years 3 months

Stock Compensation Plans - Summ

Stock Compensation Plans - Summary of ESPP Share Activity (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Purchases	(154,756)	(129,972)	(126,012)
Available for future purchases, December 31, 2020	2,435,451
2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved	86,093
Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for future purchases, January 1, 2020	438,434
Purchases	(154,756)
Available for future purchases, December 31, 2020	369,771	438,434
Employee Stock Purchase Plan [Member] | 2019 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Additional shares reserved	86,093

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Employees eligibility	completed one year of service and are at least 21 years of age
Minimum years of service required to participate in Company sponsored saving and profit sharing plan	1 year
Minimum age required to participate in Company sponsored saving and profit sharing plan	21 years
Employers contribution and compensation	match 50% of employees’ contributions up to 5% of eligible compensation
Employers contribution as percentage of employees contribution	50.00%
Employers contribution as percentage of employees compensation	5.00%
Employees contribution limit	100.00%
Fully vesting period of contribution	3 years
Minimum age for entitlement to benefit of deferred compensation plan	30 years
Minimum years of experience to attain the benefit of deferred compensation plan	10 years
Deferred compensation arrangement with individual employees contribution minimum	$ 3,000
Deferred compensation arrangement with individual employees contribution maximum	8,000
Deferred Profit Sharing [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Employer's contribution	5,714,000	$ 5,688,000	$ 4,966,000
Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Employer's contribution	1,616,000	$ 1,675,000	$ 1,585,000
Benefit Plans [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Letters of credit with bank	$ 8,228,000

Commitment and Contingencies -

Commitment and Contingencies - Summary of Minimum Payments Related to Agreements (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2021	$ 30,775
2022	26,640
2023	19,357
2024	16,247
2025	12,679
Thereafter	$ 4,515

Distribution Restrictions - Add

Distribution Restrictions - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Balance of permitted transfers to parent company	$ 3,625,712	$ 3,389,763
Description of provisions on senior credit facility transfers to Lamar Advertising not subject to additional restrictions	(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.
Debt ratio	7
Debt ratio related to actual position on senior credit facility	7
Available cumulative credit	$ 2,376,192
Secured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	4.5
LAMAR MEDIA CORP [Member] | Secured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Secured debt ratio	4.5

Fair Value of Financial Instr_2

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Estimated fair value of Long-term debt (including current maturities)	$ 2,979,266
Gross amount of company's long term debt	2,926,633
Carrying amount of company's long term debt	$ 2,926,633	$ 3,004,532

Information about Geographic _2

Information about Geographic Areas - Additional Information (Detail) - Foreign Countries [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Net carrying value of long lived assets	$ 8,727	$ 4,549
External Customers [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue from external customers	$ 22,819	$ 34,517	$ 35,146

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interim Reporting [Line Items]
Net revenues	$ 428,525	$ 386,110	$ 347,652	$ 406,569	$ 462,659	$ 457,786	$ 448,742	$ 384,457	$ 1,568,856	$ 1,753,644	$ 1,627,222
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues less direct advertising expenses	$ 290,726	$ 249,801	$ 213,593	$ 257,075	$ 308,287	$ 308,940	$ 302,352	$ 243,987
Net income applicable to common stock	$ 108,614	$ 62,667	$ 31,338	$ 40,402	$ 102,661	$ 99,618	$ 118,305	$ 51,162	243,021	$ 371,746	$ 304,867
Net income									$ 243,386	$ 372,111	$ 305,232
Net income per common share basic	$ 1.08	$ 0.62	$ 0.31	$ 0.40	$ 1.02	$ 0.99	$ 1.18	$ 0.51	$ 2.41	$ 3.71	$ 3.09
Net income per common share diluted	$ 1.08	$ 0.62	$ 0.31	$ 0.40	$ 1.02	$ 0.99	$ 1.18	$ 0.51	$ 2.41	$ 3.71	$ 3.08
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Interim Reporting [Line Items]
Net revenues	$ 428,525	$ 386,110	$ 347,652	$ 406,569	$ 462,659	$ 457,786	$ 448,742	$ 384,457	$ 1,568,856	$ 1,753,644	$ 1,627,222
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues less direct advertising expenses	$ 290,726	$ 249,801	$ 213,593	$ 257,075	$ 308,287	$ 308,940	$ 302,352	$ 243,987
Net income	$ 108,827	$ 62,895	$ 31,534	$ 40,617	$ 102,861	$ 99,832	$ 118,485	$ 51,362	$ 243,873	$ 372,540	$ 305,631

Divestiture of Assets - Additio

Divestiture of Assets - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 16, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Divestiture Of Assets [Line Items]
(Gain) loss on disposition of assets		$ (9,026)	$ (7,241)	$ 7,233
Puerto Rico [Member]
Divestiture Of Assets [Line Items]
Non-cash consideration consisting of note receivable	$ 9,250
Cash on sale of assets	$ 3,000
(Gain) loss on disposition of assets		$ 0	$ 0	$ 7,809

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($)	Jan. 22, 2021	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2019	Jan. 28, 2016
Subsequent Event [Line Items]
Aggregate principal amount of debt issued		$ 2,926,633,000
Proceeds received from term loans		$ 598,500,000	$ 599,250,000
3 5/8% Senior Notes [Member] | Subsequent Event
Subsequent Event [Line Items]
Aggregate principal amount of debt issued	$ 550,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.625%
Proceeds received from term loans	$ 542,500,000
5 3/4% Senior Notes [Member]
Subsequent Event [Line Items]
Aggregate principal amount of debt issued					$ 400,000,000
Debt Instrument, Interest Rate, Stated Percentage		5.75%		5.75%	5.75%
5 3/4% Senior Notes [Member] | Subsequent Event
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.75%
Debt instrument redemption amount	$ 650,000,000
Debt instrument redemption date	Feb. 3, 2021

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deducted in Balance Sheet from Trade Accounts Receivable: Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 13,185	$ 11,161	$ 10,055
Charged to Costs and Expenses	12,729	11,608	8,472
Deductions	10,968	9,584	7,366
Balance at End of Period	14,946	13,185	11,161
Deducted in Balance Sheet from Trade Accounts Receivable: Allowance for Doubtful Accounts [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	13,185	11,161	10,055
Charged to Costs and Expenses	12,729	11,608	8,472
Deductions	10,968	9,584	7,366
Balance at End of Period	14,946	13,185	11,161
Deducted in Balance Sheet from Deferred Tax Assets: Valuation Allowance [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	22,902	23,934	20,120
Charged to Costs and Expenses			3,814
Deductions	1,905	1,032
Balance at End of Period	20,997	22,902	23,934
Deducted in Balance Sheet from Deferred Tax Assets: Valuation Allowance [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	22,902	23,934	20,120
Charged to Costs and Expenses			3,814
Deductions	1,905	1,032
Balance at End of Period	$ 20,997	$ 22,902	$ 23,934

Schedule III - Schedule of Real

Schedule III - Schedule of Real Estate and Accumulated Depreciation (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Display	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of advertising displays | Display	354,571
Encumbrances	$ 0
Initial Cost	0
Gross Carrying Amount	3,293,778	$ 3,333,590	$ 3,201,434	$ 3,074,046
Accumulated Depreciation	$ (2,192,700)	(2,166,579)	(2,082,335)	(2,025,251)
Construction Date	Various
Acquisition Date	Various
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of advertising displays | Display	354,571
Encumbrances		0
Initial Cost		0
Gross Carrying Amount	$ 3,293,778	3,333,590	3,201,434	3,074,046
Accumulated Depreciation	$ (2,192,700)	$ (2,166,579)	$ (2,082,335)	$ (2,025,251)
Construction Date	Various
Acquisition Date	Various
Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful Lives	5 years
Minimum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful Lives	5 years
Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful Lives	20 years
Maximum [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful Lives	20 years

Schedule III - Schedule of Re_2

Schedule III - Schedule of Real Estate and Accumulated Depreciation (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020Asset
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of single asset exceeded 5% of the total gross carrying amount	0
Percentage of asset contribution to total gross carrying amount	5.00%
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of single asset exceeded 5% of the total gross carrying amount	0
Percentage of asset contribution to total gross carrying amount	5.00%

Schedule III - Summary of Compa

Schedule III - Summary of Company's Real Estate Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gross real estate assets:
Balance at the beginning of the year	$ 3,333,590	$ 3,201,434	$ 3,074,046
Capital expenditures on new advertising displays	21,598	59,604	54,151
Capital expenditures on improvements/redevelopments of existing advertising displays	13,021	25,025	12,781
Capital expenditures other recurring	12,631	36,354	34,758
Land acquisitions	8,980	22,965	15,368
Acquisition of advertising displays	4,446	23,589	82,617
Assets sold or written-off	(100,906)	(35,320)	(70,494)
Foreign exchange	418	(61)	(1,793)
Balance at the end of the year	3,293,778	3,333,590	3,201,434
Accumulated depreciation:
Balance at the beginning of the year	2,166,579	2,082,335	2,025,251
Depreciation	111,049	111,531	106,700
Assets sold or written-off	(85,267)	(27,890)	(48,488)
Foreign exchange	339	603	(1,128)
Balance at the end of the year	2,192,700	2,166,579	2,082,335
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Gross real estate assets:
Balance at the beginning of the year	3,333,590	3,201,434	3,074,046
Capital expenditures on new advertising displays	21,598	59,604	54,151
Capital expenditures on improvements/redevelopments of existing advertising displays	13,021	25,025	12,781
Capital expenditures other recurring	12,631	36,354	34,758
Land acquisitions	8,980	22,965	15,368
Acquisition of advertising displays	4,446	23,589	82,617
Assets sold or written-off	(100,906)	(35,320)	(70,494)
Foreign exchange	418	(61)	(1,793)
Balance at the end of the year	3,293,778	3,333,590	3,201,434
Accumulated depreciation:
Balance at the beginning of the year	2,166,579	2,082,335	2,025,251
Depreciation	111,049	111,531	106,700
Assets sold or written-off	(85,267)	(27,890)	(48,488)
Foreign exchange	339	603	(1,128)
Balance at the end of the year	$ 2,192,700	$ 2,166,579	$ 2,082,335

Schedule III - Summary of Com_2

Schedule III - Summary of Company's Real Estate Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Advertising Displays [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Non-cash amounts	$ 621	$ 554	$ 446
New Advertising Displays [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Non-cash amounts	$ 621	554	446
Acquisition of Advertising Displays [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Non-cash amounts		1,928	7,199
Acquisition of Advertising Displays [Member] | LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Non-cash amounts		$ 1,928	$ 7,199

Non-cash Financing Activities -

Non-cash Financing Activities - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Non cash financing activities related to financing lease liabilities	$ 19,891,000
Non-cash financing activity		$ 0	$ 0

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Total current assets	$ 380,570	$ 310,169
Net property, plant and equipment	1,281,849	1,349,115
Operating lease right of use assets	1,222,013	1,320,779
Other assets	60,565	56,574
Total assets	5,791,441	5,941,155
Current liabilities:
Current maturities of long-term debt	122,434	226,514
Current operating lease liabilities	195,439	196,841
Total current liabilities	547,872	672,808
Long-term debt	2,764,082	2,753,604
Operating lease liabilities	993,776	1,068,181
Total liabilities	4,588,673	4,760,849
Stockholders’ equity	1,202,768	1,180,306	$ 1,131,784	$ 1,103,493
Total liabilities and stockholders’ equity	5,791,441	5,941,155
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
ASSETS
Total current assets	380,070	309,669
Net property, plant and equipment	1,281,849	1,349,115
Operating lease right of use assets	1,222,013	1,320,779
Intangibles and goodwill, net	2,816,155	2,893,899
Other assets	74,620	50,959
Total assets	5,774,707	5,924,421
Current liabilities:
Current maturities of long-term debt	122,434	226,514
Current operating lease liabilities	195,439	196,841
Other current liabilities	223,189	243,494
Total current liabilities	541,062	666,849
Long-term debt	2,764,082	2,753,604
Operating lease liabilities	993,776	1,068,181
Other noncurrent liabilities	282,943	266,256
Total liabilities	4,581,863	4,754,890
Stockholders’ equity	1,192,844	1,169,531
Total liabilities and stockholders’ equity	5,774,707	5,924,421
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
ASSETS
Total current assets	110,678	13,859
Other assets	3,912,122	4,193,629
Total assets	4,022,800	4,207,488
Current liabilities:
Current maturities of long-term debt		51,480
Other current liabilities	33,583	26,960
Total current liabilities	33,583	78,440
Long-term debt	2,761,705	2,753,570
Other noncurrent liabilities	34,668	205,947
Total liabilities	2,829,956	3,037,957
Stockholders’ equity	1,192,844	1,169,531
Total liabilities and stockholders’ equity	4,022,800	4,207,488
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
ASSETS
Total current assets	19,471	53,756
Net property, plant and equipment	1,268,765	1,340,675
Operating lease right of use assets	1,200,115	1,293,674
Intangibles and goodwill, net	2,798,343	2,875,644
Other assets	258,433	229,905
Total assets	5,545,127	5,793,654
Current liabilities:
Current maturities of long-term debt	379	34
Current operating lease liabilities	188,712	189,071
Other current liabilities	170,320	196,689
Total current liabilities	359,411	385,794
Long-term debt	2,377	34
Operating lease liabilities	979,785	1,049,220
Other noncurrent liabilities	245,891	231,416
Total liabilities	1,587,464	1,666,464
Stockholders’ equity	3,957,663	4,127,190
Total liabilities and stockholders’ equity	5,545,127	5,793,654
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
ASSETS
Total current assets	249,921	242,054
Net property, plant and equipment	13,084	8,440
Operating lease right of use assets	21,898	27,105
Intangibles and goodwill, net	17,812	18,255
Other assets	132,448	184,805
Total assets	435,163	480,659
Current liabilities:
Current maturities of long-term debt	122,055	175,000
Current operating lease liabilities	6,727	7,770
Other current liabilities	19,286	19,845
Total current liabilities	148,068	202,615
Operating lease liabilities	13,991	18,961
Other noncurrent liabilities	266,968	250,859
Total liabilities	429,027	472,435
Stockholders’ equity	6,136	8,224
Total liabilities and stockholders’ equity	435,163	480,659
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
ASSETS
Other assets	(4,228,383)	(4,557,380)
Total assets	(4,228,383)	(4,557,380)
Current liabilities:
Other noncurrent liabilities	(264,584)	(421,966)
Total liabilities	(264,584)	(421,966)
Stockholders’ equity	(3,963,799)	(4,135,414)
Total liabilities and stockholders’ equity	$ (4,228,383)	$ (4,557,380)

Condensed Consolidating Stateme

Condensed Consolidating Statements of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Type of Revenue [Extensible List]	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember		us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues	$ 428,525	$ 386,110	$ 347,652	$ 406,569	$ 462,659	$ 457,786	$ 448,742	$ 384,457	$ 1,568,856	$ 1,753,644	$ 1,627,222
Operating expenses
Type of Cost Good or Service [Extensible List]										us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses									557,661	$ 590,078	$ 561,848
General and administrative expenses									287,874	318,380	289,428
Depreciation and amortization									251,296	250,028	225,261
(Gain) loss on disposition of assets									(9,026)	(7,241)	7,233
Total Operating Expenses									1,158,749	1,235,903	1,166,666
Operating income									410,107	517,741	460,556
Loss on extinguishment of debt									25,235		15,429
Income before income tax expense (benefit)									248,046	367,889	315,929
Income tax expense (benefit)									4,660	(4,222)	10,697
Net income									243,386	372,111	305,232
Statements of Comprehensive Income
Net income									243,386	372,111	305,232
Comprehensive income									$ 243,635	$ 372,784	$ 303,942
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Type of Revenue [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues									$ 1,568,856	$ 1,753,644	$ 1,627,222
Operating expenses
Type of Cost Good or Service [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses									$ 557,661	$ 590,078	$ 561,848
General and administrative expenses									287,874	318,380	289,428
Corporate expenses									70,457	84,229	82,497
Depreciation and amortization									251,296	250,028	225,261
(Gain) loss on disposition of assets									(9,026)	(7,241)	7,233
Total Operating Expenses									1,158,262	1,235,474	1,166,267
Operating income									410,594	518,170	460,955
Loss on extinguishment of debt									25,235
Interest expense (income), net									136,826	149,852	129,198
Other expenses (income)											15,429
Income before income tax expense (benefit)									248,533	368,318	316,328
Income tax expense (benefit)									4,660	(4,222)	10,697
Net income									243,873	372,540	305,631
Statements of Comprehensive Income
Net income									243,873	372,540	305,631
Foreign currency translation adjustments									249	673	(1,290)
Comprehensive income									$ 244,122	$ 373,213	$ 304,341
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
Type of Revenue [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Operating expenses
Type of Cost Good or Service [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Loss on extinguishment of debt									$ 25,235
Equity in (earnings) loss of subsidiaries									(404,332)	$ (517,516)	$ (450,791)
Interest expense (income), net									135,224	144,976	129,731
Other expenses (income)											15,429
Income before income tax expense (benefit)									243,873	372,540	305,631
Net income									243,873	372,540	305,631
Statements of Comprehensive Income
Net income									243,873	372,540	305,631
Comprehensive income									$ 243,873	$ 372,540	$ 305,631
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Type of Revenue [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues									$ 1,536,534	$ 1,709,691	$ 1,579,619
Operating expenses
Type of Cost Good or Service [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses									$ 533,803	$ 564,877	$ 537,269
General and administrative expenses									281,293	310,813	280,874
Corporate expenses									69,478	82,652	80,861
Depreciation and amortization									249,299	247,191	219,341
(Gain) loss on disposition of assets									(9,036)	(3,103)	(576)
Total Operating Expenses									1,124,837	1,202,430	1,117,769
Operating income									411,697	507,261	461,850
Interest expense (income), net									(175)	(149)	(99)
Income before income tax expense (benefit)									411,872	507,410	461,949
Income tax expense (benefit)									5,203	(7,360)	7,879
Net income									406,669	514,770	454,070
Statements of Comprehensive Income
Net income									406,669	514,770	454,070
Comprehensive income									$ 406,669	$ 514,770	$ 454,070
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Type of Revenue [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues									$ 33,965	$ 46,804	$ 50,352
Operating expenses
Type of Cost Good or Service [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses									$ 25,501	$ 28,052	$ 27,307
General and administrative expenses									6,581	7,567	8,554
Corporate expenses									979	1,577	1,636
Depreciation and amortization									1,997	2,837	5,920
(Gain) loss on disposition of assets									10	(4,138)	7,809
Total Operating Expenses									35,068	35,895	51,226
Operating income									(1,103)	10,909	(874)
Interest expense (income), net									1,777	5,025	(413)
Income before income tax expense (benefit)									(2,880)	5,884	(461)
Income tax expense (benefit)									(543)	3,138	2,818
Net income									(2,337)	2,746	(3,279)
Statements of Comprehensive Income
Net income									(2,337)	2,746	(3,279)
Foreign currency translation adjustments									249	673	(1,290)
Comprehensive income									$ (2,088)	$ 3,419	$ (4,569)
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
Type of Revenue [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Net revenues									$ (1,643)	$ (2,851)	$ (2,749)
Operating expenses
Type of Cost Good or Service [Extensible List]									us-gaap:AdvertisingMember	us-gaap:AdvertisingMember	us-gaap:AdvertisingMember
Direct advertising expenses									$ (1,643)	$ (2,851)	$ (2,728)
Total Operating Expenses									(1,643)	(2,851)	(2,728)
Operating income											(21)
Equity in (earnings) loss of subsidiaries									404,332	517,516	450,791
Interest expense (income), net											(21)
Income before income tax expense (benefit)									(404,332)	(517,516)	(450,791)
Net income									(404,332)	(517,516)	(450,791)
Statements of Comprehensive Income
Net income									(404,332)	(517,516)	(450,791)
Comprehensive income									$ (404,332)	$ (517,516)	$ (450,791)

Condensed Consolidating State_2

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$ 569,873	$ 630,865	$ 564,846
Cash flows from investing activities:
Capital expenditures	(62,272)	(140,956)	(117,638)
Acquisitions	(45,584)	(226,278)	(477,389)
Proceeds from disposition of assets and investments	10,968	5,438	6,648
Proceeds received from property insurance claims		210	4,222
(Increase) decrease in notes receivable		(448)	9
Cash flows used in investing activities	(96,888)	(362,034)	(584,148)
Cash flows from financing activities:
Payment on revolving credit facility	(875,000)	(625,000)	(481,000)
Principal payments on long term debt	(9,112)	(34,471)	(27,328)
Borrowings on long term debt	8,750
Proceeds received from note offering	1,549,250	255,000
Redemption of senior notes and senior subordinated notes	(1,058,596)		(509,790)
Proceeds received from senior credit facility term loans	598,500		599,250
Payments on senior credit facility term loans	(978,097)
Payment on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from accounts receivable securitization program	122,500	9,000	175,000
Debt issuance costs	(32,950)	(4,463)	(7,616)
Distributions to non-controlling interest	(1,509)	(621)	(541)
Cash flows used in financing activities	(377,917)	(264,357)	(73,563)
Effect of exchange rate changes in cash and cash equivalents	313	220	(1,112)
Net increase (decrease) in cash and cash equivalents	95,381	4,694	(93,977)
Cash and cash equivalents at beginning of period	26,188	21,494	115,471
Cash and cash equivalents at end of period	121,569	26,188	21,494
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	539,029	604,940	537,085
Cash flows from investing activities:
Capital expenditures	(62,272)	(140,956)	(117,638)
Acquisitions	(45,584)	(226,278)	(477,389)
Proceeds from disposition of assets and investments	10,968	5,438	6,648
Proceeds received from property insurance claims		210	4,222
(Increase) decrease in notes receivable		(448)	9
Cash flows used in investing activities	(96,888)	(362,034)	(584,148)
Cash flows from financing activities:
Proceeds received from revolving credit facility	725,000	495,000	563,000
Payment on revolving credit facility	(875,000)	(625,000)	(481,000)
Principal payments on long term debt	(9,112)	(34,471)	(27,328)
Borrowings on long term debt	8,750
Proceeds received from note offering	1,549,250	255,000
Redemption of senior notes and senior subordinated notes	(1,058,596)		(509,790)
Proceeds received from senior credit facility term loans	598,500		599,250
Payments on senior credit facility term loans	(978,097)
Payment on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from accounts receivable securitization program	122,500	9,000	175,000
Debt issuance costs	(32,950)	(4,463)	(7,616)
Distributions to non-controlling interest	(1,509)	(621)	(541)
Dividends (to) from parent	(262,437)	(393,700)	(446,744)
Contributions from (to) parent	41,628	69,822	89,967
Cash flows used in financing activities	(347,073)	(238,433)	(45,802)
Effect of exchange rate changes in cash and cash equivalents	313	221	(1,112)
Net increase (decrease) in cash and cash equivalents	95,381	4,694	(93,977)
Cash and cash equivalents at beginning of period	25,688	20,994	114,971
Cash and cash equivalents at end of period	121,069	25,688	20,994
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Lamar Media [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	495,872	469,907	430,896
Cash flows from investing activities:
Acquisitions	577
Investment in subsidiaries	(46,161)	(226,278)	(498,226)
Increease in intercompany notes receivable	(60,183)	3,787	30,034
(Increase) decrease in notes receivable		(448)	9
Cash flows used in investing activities	(105,767)	(222,939)	(468,183)
Cash flows from financing activities:
Proceeds received from revolving credit facility	725,000	495,000	563,000
Payment on revolving credit facility	(875,000)	(625,000)	(481,000)
Principal payments on long term debt		(34,471)	(27,297)
Proceeds received from note offering	1,549,250	255,000
Redemption of senior notes and senior subordinated notes	(1,058,596)		(509,790)
Proceeds received from senior credit facility term loans	598,500		599,250
Payments on senior credit facility term loans	(978,097)
Debt issuance costs	(32,950)	(4,463)	(7,616)
Intercompany loan proceeds (payments)			175,000
Dividends (to) from parent	(262,437)	(393,700)	(446,744)
Contributions from (to) parent	41,628	69,822	89,967
Cash flows used in financing activities	(292,702)	(237,812)	(45,230)
Net increase (decrease) in cash and cash equivalents	97,403	9,156	(82,517)
Cash and cash equivalents at beginning of period	13,185	4,029	86,546
Cash and cash equivalents at end of period	110,588	13,185	4,029
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	668,673	738,030	689,718
Cash flows from investing activities:
Capital expenditures	(56,772)	(136,696)	(113,259)
Acquisitions	(46,161)	(226,278)	(477,389)
Proceeds from disposition of assets and investments	10,968	5,438	3,839
Proceeds received from property insurance claims		210
Cash flows used in investing activities	(91,965)	(357,326)	(586,809)
Cash flows from financing activities:
Principal payments on long term debt	(9,112)		(31)
Borrowings on long term debt	8,750
Intercompany loan proceeds (payments)	(9,176)	(702)	(24,688)
Dividends (to) from parent	(619,877)	(609,657)	(566,386)
Contributions from (to) parent	46,161	226,278	498,226
Cash flows used in financing activities	(583,254)	(384,081)	(92,879)
Net increase (decrease) in cash and cash equivalents	(6,546)	(3,377)	10,030
Cash and cash equivalents at beginning of period	8,278	11,655	1,625
Cash and cash equivalents at end of period	1,732	8,278	11,655
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(5,639)	6,660	(17,143)
Cash flows from investing activities:
Capital expenditures	(5,500)	(4,260)	(4,379)
Proceeds from disposition of assets and investments			2,809
Proceeds received from property insurance claims			4,222
Cash flows used in investing activities	(5,500)	(4,260)	2,652
Cash flows from financing activities:
Payment on accounts receivable securitization program	(175,000)	(9,000)
Proceeds received from accounts receivable securitization program	122,500	9,000	175,000
Intercompany loan proceeds (payments)	69,359	(3,085)	(180,346)
Distributions to non-controlling interest	(1,509)	(621)	(541)
Cash flows used in financing activities	15,350	(3,706)	(5,887)
Effect of exchange rate changes in cash and cash equivalents	313	221	(1,112)
Net increase (decrease) in cash and cash equivalents	4,524	(1,085)	(21,490)
Cash and cash equivalents at beginning of period	4,225	5,310	26,800
Cash and cash equivalents at end of period	8,749	4,225	5,310
LAMAR MEDIA CORP. AND SUBSIDIARIES [Member] | Eliminations [Member]
Cash flows from operating activities:
Net cash provided by (used in) operating activities	(619,877)	(609,657)	(566,386)
Cash flows from investing activities:
Investment in subsidiaries	46,161	226,278	498,226
Increease in intercompany notes receivable	60,183	(3,787)	(30,034)
Cash flows used in investing activities	106,344	222,491	468,192
Cash flows from financing activities:
Intercompany loan proceeds (payments)	(60,183)	3,787	30,034
Dividends (to) from parent	619,877	609,657	566,386
Contributions from (to) parent	(46,161)	(226,278)	(498,226)
Cash flows used in financing activities	$ 513,533	$ 387,166	$ 98,194