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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Assets:    
Cash $ 189 $ 773
Accounts receivable, less allowance for credit losses of $16 and $10, respectively 624 425
Current portion of program broadcast rights, net 35 24
Income tax refunds receivable 21 21
Prepaid income taxes 40 0
Prepaid and other current assets 54 61
Total current assets 963 1,304
Property and equipment, net 1,165 737
Operating lease right of use asset 70 57
Broadcast licenses 5,303 3,579
Goodwill 2,649 1,460
Other intangible assets, net 825 395
Investments in broadcasting and technology companies 117 72
Other 16 39
Total assets 11,108 7,643
Liabilities and stockholders’ equity:    
Accounts payable 59 10
Employee compensation and benefits 97 53
Accrued interest 52 37
Accrued network programming fees 34 39
Other accrued expenses 44 29
Federal and state income taxes 10 20
Current portion of program broadcast obligations 37 25
Deferred revenue 14 22
Dividends payable 13 13
Current portion of operating lease liabilities 9 7
Current portion of long-term debt 15 0
Total current liabilities 384 255
Long-term debt, less deferred financing costs 6,740 3,974
Program broadcast obligations, less current portion 5 5
Deferred income taxes 1,471 885
Accrued pension costs 24 43
Operating lease liabilities, less current portion 63 51
Other 14 27
Total liabilities 8,701 5,240
Commitments and contingencies (Note 12)
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 1,127 1,110
Retained earnings 869 862
Accumulated other comprehensive loss (27) (39)
Stockholders' equity before treasury stock 2,008 1,967
Treasury stock at cost (223) (188)
Total stockholders’ equity 1,757 1,753
Total liabilities and stockholders’ equity 11,108 7,643
Common Class A [Member]    
Stockholders’ equity:    
Common stock 39 34
Treasury stock at cost $ (28) $ (26)