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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets:    
Cash $ 56 $ 61
Accounts receivable, less allowance for credit losses of $31 and $16, respectively 333 650
Current portion of program broadcast rights, net 17 27
Income tax refunds receivable 21 22
Prepaid income taxes 64 43
Prepaid and other current assets 46 54
Total current assets 537 857
Property and equipment, net 1,521 1,466
Operating lease right of use assets 80 75
Broadcast licenses 5,331 5,331
Goodwill 2,663 2,663
Other intangible assets, net 586 636
Investment in broadcasting and technology companies 107 105
Deferred pension assets 5 5
Other 15 14
Total assets 10,845 11,152
Liabilities and stockholders’ equity:    
Accounts payable 40 55
Employee compensation and benefits 64 98
Accrued interest 87 60
Accrued network programming fees 40 39
Other accrued expenses 74 50
Federal and state income taxes 18 15
Current portion of program broadcast obligations 18 29
Deferred revenue 43 24
Dividends payable 14 14
Current portion of operating lease liabilities 11 10
Current portion of long-term debt 15 15
Total current liabilities 424 409
Long-term debt, less current portion and deferred financing costs 6,147 6,440
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,458 1,454
Operating lease liabilities, less current portion 72 68
Other 32 14
Total liabilities 8,134 8,386
Commitments and contingencies (Note 9)
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 1,191 1,242
Accumulated other comprehensive loss, net of income tax benefit (23) (12)
Stockholders' equity before treasury stock 2,374 2,425
Total stockholders’ equity 2,061 2,116
Total liabilities and stockholders’ equity 10,845 11,152
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,161 1,150
Treasury stock at cost, common stock (281) (278)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 45 45
Treasury stock at cost, common stock $ (32) $ (31)