Summarized financial information for Lamar Media, subsidiary guarantors and non-guarantor subsidiaries is presented below. Lamar Media and its subsidiary guarantors have fully and unconditionally guaranteed Lamar Media’s obligations with respect to its publicly issued notes. All guarantees are joint and several. As a result of these guarantee arrangements, we are required to present the following summarized financial information. The following summarized financial information should be read in conjunction with the accompanying consolidated financial statements and notes. Separate financial statements of Lamar Media’s subsidiary guarantors are not included because the guarantors are each a consolidated subsidiary of Lamar Media, Lamar Media’s consolidated financial statements have been filed, and the guaranteed securities are debt securities with Lamar Media as the issuer. The accounts for all companies reflected herein are presented using the equity method of accounting for investments in subsidiaries.


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations		Lamar Media Consolidated
Current assets	$	55,610	$	53,749	$	383,850	$	—	$	493,209
Noncurrent assets	4,530,851		6,762,032		285,441		(5,096,678)		6,481,646
Current liabilities	46,307		458,243		270,551		—		775,101
Noncurrent liabilities	3,562,758		1,882,175		449,855		(685,787)		5,209,001
Non-controlling interest	—		13,917		(559)		—		13,358


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations		Lamar Media Consolidated
Current assets	$	52,917	$	57,033	$	349,273	$	—	$	459,223
Noncurrent assets	4,470,971		6,704,177		288,193		(5,007,353)		6,455,988
Current liabilities	53,031		462,330		267,118		—		782,479
Noncurrent liabilities	3,464,450		1,881,921		414,928		(648,167)		5,113,132
Non-controlling interest	—		13,691		(498)		—		13,193


	Lamar Media Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Lamar Media Consolidated
Net revenues	$	—	$	609,434	$	7,401	$	(86)	$	616,749
Operating expenses (income)	—		402,040		6,680		(86)		408,634
Operating income	—		207,394		721		—		208,115
Net income (loss)	160,902		205,257		(2,257)		(199,107)		164,795
Net income (loss) attributable to controlling interest	160,902		201,648		(2,539)		(199,107)		160,904


	Lamar Media Corp.		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations		Lamar Media Consolidated
Net revenues	$	—	$	567,209	$	12,357	$	(255)	$	579,311
Operating expenses (income)	—		369,445		12,290		(255)		381,480
Operating income	—		197,764		67		—		197,831
Net income (loss)	154,505		195,734		(3,365)		(191,708)		155,166
Net income (loss) attributable to controlling interest	154,505		195,354		(3,646)		(191,708)		154,505


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations		Lamar Media Consolidated
Net revenues	$	—	$	1,131,085	$	13,887	$	(219)	$	1,144,753
Operating expenses (income)	—		777,475		13,193		(219)		790,449
Operating income	—		353,610		694		—		354,304
Net income (loss)	262,316		347,731		(5,032)		(338,249)		266,766
Net income (loss) attributable to controlling interest	262,316		343,865		(5,615)		(338,249)		262,317


	Lamar Media Corp.		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations		Lamar Media Consolidated
Net revenues	$	—	$	1,061,191	$	23,976	$	(426)	$	1,084,741
Operating expenses (income)	—		671,328		24,666		(426)		695,568
Operating income (loss)	—		389,863		(690)		—		389,173
Net income (loss)	293,369		374,192		(7,570)		(365,487)		294,504
Net income (loss) attributable to controlling interest	293,369		373,592		(8,105)		(365,487)		293,369