Company: EVC
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034661
Chunk: 129

Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1
Chunk 129
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 2024, the Company updated its internal forecasts of future performance and determined that a triggering event had occurred during the first quarter of 2024 that required interim impairment tests within its then digital reporting unit. As a result, the Company recorded a goodwill impairment charge of $35.4 million and intangibles subject to amortization impairment charge of $14.0 million during the first quarter of 2024, with respect to the Company's then digital segment, which amounts were included in the results of discontinued operations. 

F-23

7. PROPERTY AND EQUIPMENT Property and equipment as of December 31, 2024 and 2023 consists of (in millions):  

        Estimated usefullife (years)

        2024

        2023

        Buildings
         
        40

        $
        18.5

        $
        18.5

        Construction in progress

        —

        2.9

        4.1

        Transmission, studio and other broadcast equipment
         
        5-15

        115.0

        152.5

        Office and computer equipment
         
        3-7

        41.6

        42.8

        Transportation equipment
         
        5

        3.5

        3.9

        Leasehold improvements and land improvements
         
        Lesser of lease life or useful life

        26.9

        28.0

        208.4

        249.8

        Less accumulated depreciation

        (154.9
        )

        (189.7
        )

        53.5

        60.1

        Land

        7.1

        6.8

        $
        60.6

        $
        66.9

       Depreciation expense was $14.1 million, $13.3 million, and $12.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.  As part of the FCC auction for broadcast spectrum that concluded in 2017, the FCC has reassigned some stations to new post-auction channels and will reimburse station owners for the cost of the relocation. The Company received notification from the FCC that 17 of its stations have been assigned to new channels with an estimated reimbursable cost of approximately $16.0 million.  The Company did