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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Assets:    
Cash $ 785 $ 773
Accounts receivable, less allowance for credit losses of $10 and $10, respectively 408 425
Current portion of program broadcast rights, net 7 24
Income tax refunds receivable 21 21
Prepaid income taxes 9 0
Prepaid and other current assets 27 61
Total current assets 1,257 1,304
Property and equipment, net 809 737
Operating leases right of use asset 55 57
Broadcast licenses 3,584 3,579
Goodwill 1,466 1,460
Other intangible assets, net 349 395
Investments in broadcasting and technology companies 95 72
Other 55 39
Total assets 7,670 7,643
Liabilities and stockholders’ equity:    
Accounts payable 33 10
Employee compensation and benefits 66 53
Accrued interest 37 37
Accrued network programming fees 30 39
Other accrued expenses 20 29
Federal and state income taxes 0 20
Current portion of program broadcast obligations 8 25
Deferred revenue 8 22
Dividends payable 13 13
Current portion of operating lease liabilities 8 7
Total current liabilities 223 255
Long-term debt, less deferred loan costs 3,979 3,974
Program broadcast obligations, less current portion 3 5
Deferred income taxes 905 885
Accrued pension costs 43 43
Operating lease liabilities, less current portion 50 51
Other 20 27
Total liabilities 5,223 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 1,122 1,110
Retained earnings 899 862
Accumulated other comprehensive loss, net of income tax benefit (39) (39)
Stockholders' equity before treasury stock 2,018 1,967
Treasury stock at cost (193) (188)
Total stockholders’ equity 1,797 1,753
Total liabilities and stockholders’ equity 7,670 7,643
Common Class A [Member]    
Stockholders’ equity:    
Common stock 36 34
Treasury stock at cost $ (28) $ (26)