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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Jun. 30, 2022
Dec. 31, 2021
Assets:    
Cash $ 162 $ 189
Accounts receivable, less allowance for credit losses of $15 and $16, respectively 614 624
Current portion of program broadcast rights, net 11 35
Income tax refunds receivable 21 21
Prepaid income taxes 107 40
Prepaid and other current assets 36 54
Total current assets 951 963
Property and equipment, net 1,260 1,165
Operating leases right of use asset 70 70
Broadcast licenses 5,314 5,303
Goodwill 2,657 2,649
Other intangible assets, net 739 825
Investments in broadcasting and technology companies 120 117
Other 12 16
Total assets 11,123 11,108
Liabilities and stockholders’ equity:    
Accounts payable 66 59
Employee compensation and benefits 88 97
Accrued interest 53 52
Accrued network programming fees 39 34
Other accrued expenses 39 44
Federal and state income taxes 17 10
Current portion of program broadcast obligations 12 37
Deferred revenue 22 14
Dividends payable 14 13
Current portion of operating lease liabilities 9 9
Current portion of long-term debt 15 15
Total current liabilities 374 384
Long-term debt, less current portion and deferred financing costs 6,690 6,740
Program broadcast obligations, less current portion 2 5
Deferred income taxes 1,471 1,471
Accrued pension costs 21 24
Operating lease liabilities, less current portion 63 63
Other 14 14
Total liabilities 8,635 8,701
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:    
Retained earnings 988 869
Accumulated other comprehensive loss, net of income tax benefit (27) (27)
Stockholders' equity before treasury stock 2,145 2,008
Total stockholders’ equity 1,838 1,757
Total liabilities and stockholders’ equity 11,123 11,108
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,141 1,127
Treasury stock at cost (277) (223)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 43 39
Treasury stock at cost $ (30) $ (28)