LAMAR ADVERTISING CO/NEW
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
LAMR$163.40+2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows for the
Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income | $438,320 | $363,915 |
| Adjustments to reconcile net income to net cash provided by operating activities | ||
| Depreciation and amortization | 242,207 | 227,531 |
| Stock-based compensation | 25,305 | 37,713 |
| Amortization included in interest expense | 4,593 | 4,830 |
| Gain on disposition of assets and investments | (76,116) | (5,486) |
| Loss on extinguishment of debt | 2,012 | 270 |
| Equity in earnings of investee | (206) | (2,087) |
| Deferred tax benefit | (8,476) | (3,357) |
| Provision for doubtful accounts | 6,855 | 4,892 |
| Changes in operating assets and liabilities | ||
| (Increase) decrease in: | ||
| Receivables | (12,622) | (54,933) |
| Prepaid expenses | 263 | (1,627) |
| Other assets | (5,271) | (2,799) |
| Increase (decrease) in: | ||
| Trade accounts payable | 17 | 2,741 |
| Accrued expenses | (4,185) | 1,965 |
| Operating lease liabilities | (21,628) | (23,059) |
| Other liabilities | 1,821 | 43,788 |
| Net cash provided by operating activities | 592,889 | 594,297 |
| Cash flows from investing activities: | ||
| Acquisitions | (133,894) | (31,083) |
| Capital expenditures | (117,938) | (82,270) |
| Proceeds from disposition of assets and investments | 123,704 | 5,242 |
| Decrease in notes receivable | 69 | 65 |
| Net cash used in investing activities | (128,059) | (108,046) |
| Cash flows from financing activities: | ||
| Cash used for purchase of treasury stock | (157,921) | (5,342) |
| Net proceeds from issuance of common stock | 12,968 | 17,183 |
| Principal payments on long-term debt | (313) | (298) |
| Principal payments on financing leases | (998) | (998) |
| Payments on revolving credit facility | (726,000) | (398,000) |
| Proceeds received from revolving credit facility | 442,000 | 648,000 |
| Proceeds received from note offering | 400,000 | — |
| Proceeds from senior credit facility term loans | 698,250 | — |
| Payments on accounts receivable securitization program | (99,400) | (86,400) |
| Proceeds received from accounts receivable securitization program | 29,400 | 86,200 |
| Payments on senior credit facility term loans | (600,000) | (350,000) |
| Debt issuance costs | (12,709) | (23) |
| Distributions to non-controlling interest | (3,959) | (1,636) |
| Dividends/distributions | (473,740) | (409,908) |
| Net cash used in financing activities | (492,422) | (501,222) |
| Effect of exchange rate changes in cash and cash equivalents | 147 | (124) |
| Net decrease in cash and cash equivalents | (27,445) | (15,095) |
| Cash and cash equivalents at beginning of period | 49,461 | 44,605 |
| Cash and cash equivalents at end of period | $22,016 | $29,510 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $114,923 | $127,250 |
| Cash paid for foreign, state and federal income taxes | $21,864 | $7,075 |
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