XML 24 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
REVENUES:      
Media revenues $ 3,511 $ 3,106 $ 3,894
Non-media revenues 37 28 34
Total revenues 3,548 3,134 3,928
OPERATING EXPENSES:      
Media programming and production expenses 1,661 1,611 1,942
Media selling, general and administrative expenses 794 747 812
Amortization of program costs 74 80 90
Non-media expenses 53 49 44
Depreciation of property and equipment 101 105 100
Corporate general and administrative expenses 185 694 160
Amortization of definite-lived intangible and other assets 149 166 221
Loss (gain) on deconsolidation of subsidiary 0 10 (3,357)
(Gain) loss on asset dispositions and other, net of impairment (20) 3 (64)
Total operating expenses (gains) 2,997 3,465 (52)
Operating income (loss) 551 (331) 3,980
OTHER INCOME (EXPENSE):      
Interest expense including amortization of debt discount and deferred financing costs (304) (305) (296)
Gain on extinguishment of debt 1 15 3
Income from equity method investments 118 29 56
Other income (expense), net 29 (45) (129)
Total other expense, net (156) (306) (366)
Income (loss) before income taxes 395 (637) 3,614
INCOME TAX (PROVISION) BENEFIT (76) 358 (913)
NET INCOME (LOSS) 319 (279) 2,701
Net loss (income) attributable to the redeemable noncontrolling interests 0 4 (20)
Net income attributable to the noncontrolling interests (9) (16) (29)
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR $ 310 $ (291) $ 2,652
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR:      
Basic (loss) earnings per share (in dollars per share) $ 4.72 $ (4.46) $ 37.54
Diluted (loss) earnings per share (in dollars per share) $ 4.69 $ (4.46) $ 37.54
Basic weighted average common shares outstanding (in shares) 65,782 65,125 70,653
Diluted weighted average common and common equivalent shares outstanding (in shares) 66,096 65,125 70,656