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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Assets:    
Cash $ 61 $ 189
Accounts receivable, less allowance for credit losses of $16 and $16, respectively 650 624
Current portion of program broadcast rights, net 27 35
Income tax refunds receivable 22 21
Prepaid income taxes 43 40
Prepaid and other current assets 54 54
Total current assets 857 963
Property and equipment, net 1,466 1,165
Operating lease right of use asset 75 70
Broadcast licenses 5,331 5,303
Goodwill 2,663 2,649
Other intangible assets, net 636 825
Investments in broadcasting and technology companies 105 117
Deferred pension assets 5 0
Other 14 16
Total assets 11,152 11,108
Liabilities and stockholders’ equity:    
Accounts payable 55 59
Employee compensation and benefits 98 97
Accrued interest 60 52
Accrued network programming fees 39 34
Other accrued expenses 50 44
Federal and state income taxes 15 10
Current portion of program broadcast obligations 29 37
Deferred revenue 24 14
Dividends payable 14 13
Current portion of operating lease liabilities 10 9
Current portion of long-term debt 15 15
Total current liabilities 409 384
Long-term debt, less deferred financing costs 6,440 6,740
Program broadcast obligations, less current portion 1 5
Deferred income taxes 1,454 1,471
Accrued pension costs 0 24
Operating lease liabilities, less current portion 68 63
Other 14 14
Total liabilities 8,386 8,701
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:    
Retained earnings 1,242 869
Accumulated other comprehensive loss (12) (27)
Stockholders' equity before treasury stock 2,425 2,008
Total stockholders’ equity 2,116 1,757
Total liabilities and stockholders’ equity 11,152 11,108
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,150 1,127
Treasury stock at cost (278) (223)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 45 39
Treasury stock at cost $ (31) $ (28)