XML 13 R2.htm IDEA: XBRL DOCUMENT v3.21.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Assets:    
Cash $ 819 $ 773
Accounts receivable, less allowance for credit losses of $10 and $10, respectively 413 425
Current portion of program broadcast rights, net 16 24
Income tax refunds receivable 21 21
Prepaid and other current assets 29 61
Total current assets 1,298 1,304
Property and equipment, net 730 737
Operating leases right of use asset 56 57
Broadcast licenses 3,584 3,579
Goodwill 1,466 1,460
Other intangible assets, net 376 395
Investment in broadcasting and technology companies 95 72
Other 55 39
Total assets 7,660 7,643
Liabilities and stockholders’ equity:    
Accounts payable 19 10
Employee compensation and benefits 56 53
Accrued interest 50 37
Accrued network programming fees 31 39
Other accrued expenses 19 29
Federal and state income taxes 26 20
Current portion of program broadcast obligations 17 25
Deferred revenue 10 22
Dividends payable 13 13
Current portion of operating lease liabilities 8 7
Total current liabilities 249 255
Long-term debt, less current portion and deferred financing costs 3,976 3,974
Program broadcast obligations, less current portion 4 5
Deferred income taxes 894 885
Accrued pension costs 43 43
Operating lease liabilities, less current portion 51 51
Other 19 27
Total liabilities 5,236 5,240
Commitments and contingencies (Note 10)
Series A Perpetual Preferred Stock, no par value; cumulative; redeemable; designated 1,500,000 shares, issued and outstanding 650,000 shares at each date and $650 aggregate liquidation value at each date 650 650
Stockholders’ equity:    
Common stock 1,119 1,110
Retained earnings 880 862
Accumulated other comprehensive loss, net of income tax benefit (39) (39)
Stockholders' equity before treasury stock 1,995 1,967
Treasury stock at cost (193) (188)
Total stockholders’ equity 1,774 1,753
Total liabilities and stockholders’ equity 7,660 7,643
Common Class A [Member]    
Stockholders’ equity:    
Common stock 35 34
Treasury stock at cost $ (28) $ (26)