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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities    
Net (loss) income $ (31) $ 62
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 35 32
Amortization of intangible assets 49 52
Amortization of deferred loan costs 4 4
Amortization of restricted stock awards 2 5
Amortization of program broadcast rights 10 13
Payments on program broadcast obligations (11) (13)
Deferred income taxes 8 0
Loss (gain) on disposal of assets, net 10 (5)
Loss from early extinguishment of debt 3 0
Other 5 2
Changes in operating assets and liabilities:    
Accounts receivable 317 (20)
Income tax receivable or prepaid (21) 18
Other current assets 9 (6)
Accounts payable (15) (36)
Employee compensation, benefits and pension cost (34) (14)
Accrued network fees and other expenses 32 7
Accrued interest 27 30
Income taxes payable 3 4
Increase (Decrease) in Contract with Customer, Liability 10 6
Net cash provided by operating activities 412 141
Investing activities    
Acquisitions of television businesses and licenses, net of cash acquired 0 (7)
Purchases of property and equipment (110) (47)
Proceeds from asset sales 8 0
Reimbursement of development costs 11 0
Proceeds from Repack reimbursement (Note 1) 0 5
Investments in broadcast, production and technology companies (4) (4)
Net cash used in investing activities (95) (53)
Financing activities    
Proceeds from borrowings on long-term debt 50 0
Repayments of borrowings on long-term debt (349) (4)
Payment of common stock dividends (7) (8)
Payment of preferred stock dividends (13) (13)
Payment for taxes related to net share settlement of equity awards (3) (5)
Net cash used in financing activities (322) (30)
Net increase (decrease) in cash (5) 58
Cash at beginning of period 61 189
Cash at end of period $ 56 $ 247