XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue (less agency commissions) $ 909 $ 601 $ 2,604 $ 1,692
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:        
Depreciation     96 76
Amortization of intangible assets     156 81
(Gain) loss on disposal of assets, net (1) 51 (6) 46
Operating expenses 664 534 1,977 1,416
Operating income 245 67 627 276
Other expense:        
Miscellaneous expense, net (1) (1) (3) (7)
Interest expense (94) (48) (254) (143)
Income before income taxes 150 18 370 126
Income tax expense 42 35 101 65
Net income (loss) 108 (17) 269 61
Preferred stock dividends 13 13 39 39
Net income (loss) attributable to common stockholders $ 95 $ (30) $ 230 $ 22
Basic per share information:        
Net income (loss) attributable to common stockholders (in dollars per share) $ 1.04 $ (0.32) $ 2.47 $ 0.23
Weighted-average shares outstanding (in shares) 91 95 93 94
Diluted per share information:        
Net income (loss) attributable to common stockholders (in dollars per share) $ 1.03 $ (0.32) $ 2.47 $ 0.23
Weighted-average shares outstanding (in shares) 92 95 93 95
Dividends declared per common share (in dollars per share) $ 0.08 $ 0.08 $ 0.24 $ 0.24
Broadcasting, Segment [Member]        
Revenue (less agency commissions) $ 889 $ 581 $ 2,548 $ 1,648
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:        
Cost of goods and services sold 537 384 1,595 1,099
Operating expenses     1,829 1,291
Operating income     719 357
Other expense:        
Interest expense     0 0
Production Companies, Segment [Member]        
Revenue (less agency commissions) 20 20 56 44
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:        
Cost of goods and services sold 16 13 56 39
Operating expenses     66 48
Operating income     (10) (4)
Other expense:        
Interest expense     0 0
Other Segments [Member]        
Revenue (less agency commissions)     0 0
Operating expenses before depreciation, amortization and loss (gain) on disposal of assets, net:        
Corporate and administrative 27 32 80 75
Depreciation 33 26 96 76
Amortization of intangible assets $ 52 $ 28 156 81
Operating expenses     82 77
Operating income     (82) (77)
Other expense:        
Interest expense     $ (254) $ (143)