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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue (less agency commissions) $ 2,413 $ 2,381 $ 2,122
Corporate and administrative 159 65 104
Depreciation 104 96 80
Amortization of intangible assets 117 105 115
Loss (gain) on disposal of assets, net 42 (29) (54)
Operating expenses, net 2,032 1,629 1,644
Operating income 381 752 478
Other income (expense):      
Miscellaneous (expense) income, net (8) (5) 4
Interest expense (205) (191) (227)
Loss on early extinguishment of debt 0 (12) 0
Income before income taxes 168 544 255
Income tax expense 78 134 76
Net income 90 410 179
Preferred stock dividends 52 52 52
Net income attributable to common stockholders $ 38 $ 358 $ 127
Basic per share information:      
Net income attributable to common stockholders (in dollars per share) $ 0.40 $ 3.73 $ 1.28
Weighted average shares outstanding (in shares) 95 96 99
Diluted per share information:      
Net income attributable to common stockholders (in dollars per share) $ 0.40 $ 3.69 $ 1.27
Weighted average shares outstanding (in shares) 95 97 100
Dividends declared per common share (in dollars per share) $ 0.32 $ 0 $ 0
Broadcasting, Segment [Member]      
Revenue (less agency commissions) $ 2,340 $ 2,320 $ 2,035
Cost of goods and services sold 1,548 1,340 1,325
Operating expenses, net 1,795 1,495 1,451
Operating income 545 825 584
Other income (expense):      
Interest expense 0 0 0
Production Companies, Segment [Member]      
Revenue (less agency commissions) 73 61 87
Cost of goods and services sold 62 52 74
Operating expenses, net 74 66 87
Operating income (1) (5) 0
Other income (expense):      
Interest expense $ 0 $ 0 $ 0