Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Income Taxes

The income tax expense (benefit) consisted of the following components for the years ended December 31 (in millions):

	2022			2021		2020
Current tax expense:
Federal	$	294.1		$	219.1	$	281.4
State		81.2			38.3		56.8
		375.3			257.4		338.2
Deferred tax expense (benefit):
Federal		(83.7	)		2.1		(32.8	)
State		(18.0	)		3.4		(8.9	)
		(101.7	)		5.5		(41.7	)
Income tax expense	$	273.6		$	262.9	$	296.5

Schedule of Reconciliation of Federal Statutory Income Tax Rate to Income Tax Expense

The following is a reconciliation of the federal statutory income tax rate to income tax expense for the years ended December 31 (in millions):

	2022			2021			2020
Federal income tax at the statutory rate	$	255.7		$	229.6		$	231.9
State and local taxes, net of federal benefit		46.6			43.3			43.1
Nondeductible compensation		8.4			6.2			6.3
Nondeductible meals and entertainment		2.1			1.7			1.5
Excess tax benefit on stock-based compensation		(26.6	)		(19.6	)		(2.9	)
Disposition of nondeductible goodwill		-			-			8.3
Change in beginning of year valuation allowance		(4.1	)		18.9			5.3
Uncertain tax positions		(4.0	)		(11.9	)		1.2
Bargain purchase gain		(11.7	)		-			-
Minority interest		5.0			-			-
Other		2.2			(5.3	)		1.8
Income tax expense	$	273.6		$	262.9		$	296.5

Schedule of Components of Net Deferred Tax Asset Liability

The components of the net deferred tax asset (liability) were as follows, as of December 31 (in millions):

	2022			2021
Deferred tax assets:
Net operating loss carryforwards	$	44.6		$	50.3
Compensation		7.1			10.3
Rent		69.9			71.7
Pension		62.5			35.9
Other		53.5			30.6
Total deferred tax assets		237.6			198.8
Valuation allowance for deferred tax assets		(38.2	)		(42.3	)
Total deferred tax assets		199.4			156.5
Deferred tax liabilities:
Property and equipment		(187.5	)		(240.9	)
Other intangible assets		(472.8	)		(485.7	)
Goodwill		(133.4	)		(119.0	)
FCC licenses		(655.8	)		(668.6	)
Rent		(72.1	)		(76.5	)
Deferred gain on spectrum		(37.3	)		(37.3	)
Investments		(202.1	)		(210.5	)
Other		(44.0	)		(46.5	)
Total deferred tax liabilities		(1,805.0	)		(1,885.0	)
Net deferred tax liabilities	$	(1,605.6	)	$	(1,728.5	)

Schedule of Reconciliation of Gross Liability for Uncertain Tax Positions

A reconciliation of the beginning and ending balances of the gross liability for uncertain tax positions is as follows (in millions):

	2022			2021			2020
Uncertain tax position liability at the beginning of the year	$	32.8		$	45.6		$	45.2
Increases resulting from merger transaction		-			-			2.0
Increases related to tax positions taken during the current period		-			0.3			0.1
Increases related to tax positions taken during prior periods		-			-			0.5
Decreases related to settlements with taxing authorities		(1.7	)		(7.0	)		(1.4	)
Decreases related to expiration of statute of limitations		(3.1	)		(6.1	)		(0.8	)
Uncertain tax position liability at the end of the year	$	28.0		$	32.8		$	45.6