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SEGMENT DATA
 12 Months Ended
Dec. 31, 2023
Segment data  
SEGMENT DATA
17. SEGMENT DATA:
 
During the year ended December 31, 2023, we modified our segment reporting to align with the new organizational structure of the Company discussed within Company Reorganization under Note 1. Nature of Operations and Summary of Significant Accounting Policies. The segment information within the comparative periods have been recast to reflect this new presentation. During the year ended December 31, 2023, we measured segment performance based on operating income (loss). For the year ended December 31, 2023, we had two reportable segments: local media and tennis. Prior to the Deconsolidation on March 1, 2022, we had one additional reportable segment: local sports. Our local media segment includes our television stations, original networks and content and provides these through free over-the-air programming to television viewing audiences for stations in markets located throughout the continental United States, as well as distributes the content of these stations to MVPDs for distribution to their customers in exchange for contractual fees. Our tennis segment provides viewers coverage of many of tennis' top tournaments and original professional sport and tennis lifestyle shows. Prior to the Deconsolidation, our local sports segment provided viewers with live professional sports content and included the Bally RSNs, Marquee, and our investment in the YES Network. Other and corporate are not reportable segments but are included for reconciliation purposes. Other primarily consists of non-broadcast digital and internet solutions, technical services, and non-media investments. Corporate costs primarily include our costs to operate as a public company and to operate our corporate headquarters location. All of our businesses are located within the United States. As a result of the Reorganization, the local media segment assets are owned and operated by SBG, the assets of the tennis segment are owned and operated by Ventures, and the other Transferred Assets, which are included in other and corporate, are owned and operated by Ventures.

Segment financial information is included in the following tables for the years ended December 31, 2023, 2022, and 2021 (in millions):
As of December 31, 2023Local mediaTennisOther & CorporateEliminationsConsolidated
Goodwill$2,016 $61 $5 $— $2,082 
Assets4,747 293 1,048 (3)6,085 

As of December 31, 2022Local mediaTennisOther & CorporateEliminationsConsolidated
Goodwill$2,016 $61 $11 $— $2,088 
Assets5,554 324 826 — 6,704 

For the year ended December 31, 2023Local mediaTennisOther & CorporateEliminationsConsolidated
Revenue$2,866 (a)$228 $62 $(22)(c)$3,134 
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets243 21 10 (3)271 
Amortization of program contract costs80 — — — 80 
Corporate general and administrative expenses134 1 559 — 694 
Loss on deconsolidation of subsidiary— — 10 — 10 
(Gain) loss on asset dispositions and other, net of impairment(14)(b)— 17 — 3 
Operating income (loss)227 (b)50 (608)— (331)
Interest expense including amortization of debt discount and deferred financing costs305 — — — 305 
(Loss) income from equity method investments— (2)31 — 29 
Capital expenditures86 1 5 — 92 
For the year ended December 31, 2022Local mediaTennisLocal sports (d)Other & CorporateEliminationsConsolidated
Revenue$3,193 (a)$217 $482 $95 $(59)(c)$3,928 
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets243 21 54 7 (4)321 
Amortization of sports programming rights (e)— — 326 — — 326 
Amortization of program contract costs90 — — — — 90 
Corporate general and administrative expenses117 — 1 42 — 160 
Gain on deconsolidation of subsidiary— — — (3,357)(f)— (3,357)
Gain on asset dispositions and other, net of impairment(17)(b)— — (47)— (64)
Operating income (loss)591 (b)52 (4)3,341 — 3,980 
Interest expense including amortization of debt discount and deferred financing costs226 — 72 6 (8)296 
Income from equity method investments— — 10 46 — 56 
Capital expenditures96 1 2 6 — 105 
 
For the year ended December 31, 2021Local mediaTennisLocal sportsOther & CorporateEliminationsConsolidated
Revenue$2,887 $224 $3,056 $128 $(161)(c)$6,134 
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets248 21 316 9 (3)591 
Amortization of sports programming rights (e)— — 2,350 — — 2,350 
Amortization of program contract costs93 — — — — 93 
Corporate general and administrative expenses148 — 10 12 — 170 
Gain on asset dispositions and other, net of impairment(23)(b)— (43)(b)(5)— (71)
Operating income (loss)388 (b)71 (317)(b)(47)— 95 
Interest expense including amortization of debt discount and deferred financing costs183 — 436 13 (14)618 
Income (loss) from equity method investments— — 49 (4)— 45 
Capital expenditures52 2 16 10 — 80 
(a)Includes $52 million and $39 million for the year ended December 31, 2023 and 2022, respectively, of revenue for services provided by local media under management services agreements after the Deconsolidation, which is not eliminated in consolidation.
(b)Local media includes gains of $8 million, $4 million, and $24 million related to reimbursements for spectrum repack costs for the years ended December 31, 2023, 2022, and 2021, respectively. Local sports includes $43 million related to the fair value of equipment that we received for the C-Band spectrum repack for the year ended December 31, 2021. See Note 2. Acquisitions and Dispositions of Assets.
(c)Includes $26 million, and $111 million of revenue for the years ended December 31, 2022 and 2021, respectively, for services provided by local media to local sports and other and $8 million, $12 million, and $35 million for the year ended December 31, 2023, 2022, and 2021, respectively, for services provided by other to local media, which are eliminated in consolidation.
(d)Represents the activity prior to the Deconsolidation on March 1, 2022.
(e)The amortization of sports programming rights is included within media programming and production expenses on our consolidated statements of operations.
(f)Represents the gain recognized on the Deconsolidation.
Sinclair Broadcast Group, LLC  
Segment data  
SEGMENT DATA
15. SEGMENT DATA:

During the year ended December 31, 2023, SBG modified its segment reporting to align with the new organizational structure of SBG discussed within Company Reorganization under Note 1. Nature of Operations and Summary of Significant Accounting Policies. The segment information within the comparative periods have been recast to reflect this new presentation. During the year ended December 31, 2023, SBG measured segment performance based on operating income (loss). For the year ended December 31, 2023, SBG had one reportable segment: local media. Prior to the Deconsolidation on March 1, 2022, SBG had one additional reportable segment: local sports. SBG's local media segment includes SBG's television stations, original networks and content and provides these through free over-the-air programming to television viewing audiences for stations in markets located throughout the continental United States, as well as distributes the content of these stations to MVPDs for distribution to their customers in exchange for contractual fees. Prior to the Deconsolidation, the local sports segment provided viewers with live professional sports content and included the Bally RSNs, Marquee, and SBG's investment in the YES Network. Other and corporate are not reportable segments but are included for reconciliation purposes. Other primarily consists of tennis, non-broadcast digital and internet solutions, technical services, and non-media investments. Corporate costs primarily include SBG's costs to operate the parent company of its subsidiaries. All of SBG's businesses are located within the United States.

Segment financial information is included in the following tables for the years ended December 31, 2023, 2022, and 2021 (in millions):
As of December 31, 2023Local mediaOther & CorporateEliminationsConsolidated
Goodwill$2,016 $— $— $2,016 
Assets4,750 87 — 4,837 

As of December 31, 2022Local mediaOther & CorporateEliminationsConsolidated
Goodwill$2,016 $72 $— $2,088 
Assets5,554 1,150 — 6,704 

For the year ended December 31, 2023Local mediaOther & Corporate (d)EliminationsConsolidated
Revenue$2,866 (a)$119 $(7)(c)$2,978 
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets243 10 (1)252 
Amortization of program contract costs80 — — 80 
Corporate general and administrative expenses134 520 — 654 
Loss on deconsolidation of subsidiary— 10 — 10 
(Gain) loss on asset dispositions and other, net of impairment(14)(b)12 — (2)
Operating income (loss)227 (b)(529)— (302)
Interest expense including amortization of debt discount and deferred financing costs305 — — 305 
Income from equity method investments— 31 — 31 
Capital expenditures86 4 — 90 
For the year ended December 31, 2022Local mediaLocal sports (e)Other & CorporateEliminationsConsolidated
Revenue$3,193 (a)$482 $312 $(59)(c)$3,928 
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets243 54 28 (4)321 
Amortization of sports programming rights (f)— 326 — — 326 
Amortization of program contract costs90 — — — 90 
Corporate general and administrative expenses117 1 42 — 160 
Gain on deconsolidation of subsidiary— — (3,357)(g)— (3,357)
Gain on asset dispositions and other, net of impairment(17)(b)— (47)— (64)
Operating income (loss)591 (b)(4)3,393 — 3,980 
Interest expense including amortization of debt discount and deferred financing costs226 72 6 (8)296 
Income from equity method investments— 10 46 — 56 
Capital expenditures96 2 7 — 105 
 
For the year ended December 31, 2021Local mediaLocal sportsOther & CorporateEliminationsConsolidated
Revenue$2,887 $3,056 $352 $(161)(c)$6,134 
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets248 316 30 (3)591 
Amortization of sports programming rights (f)— 2,350 — — 2,350 
Amortization of program contract costs93 — — — 93 
Corporate general and administrative expenses148 10 12 — 170 
Gain on asset dispositions and other, net of impairment(23)(b)(43)(b)(5)— (71)
Operating income (loss)388 (b)(317)(b)24 — 95 
Interest expense including amortization of debt discount and deferred financing costs183 436 13 (14)618 
Income (loss) from equity method investments— 49 (4)— 45 
Capital expenditures52 16 12 — 80 
(a)Includes $55 million and $39 million for the year ended December 31, 2023 and 2022, respectively, of revenue for services provided by local media under management services agreements after the Deconsolidation, which is not eliminated in consolidation.
(b)Local Media includes gains of $8 million, $4 million, and $24 million related to reimbursements for spectrum repack costs for the years ended December 31, 2023, 2022, and 2021, respectively. Local sports includes $43 million related to the fair value of equipment that we received for the C-Band spectrum repack for the year ended December 31, 2021. See Note 2. Acquisitions and Dispositions of Assets.
(c)Includes $26 million and $111 million,of revenue for the years ended December 31, 2022 and 2021, respectively, for services provided by local media, which are eliminated in consolidation.
(d)Represents the activity in tennis, non-broadcast digital and internet solutions, technical services, and non-media investments (collectively, "Other") prior to the Reorganization on June 1, 2023 and the activity in corporate prior and subsequent to the Reorganization. See Company Reorganization within Note 1. Nature of Operations and Summary of Significant Accounting Policies.
(e)Represents the activity prior to the Deconsolidation on March 1, 2022.
(f)The amortization of sports programming rights is included within media programming and production expenses on our consolidated statements of operations.
(g)Represents the gain recognized on the Deconsolidation.