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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets:    
Cash $ 36 $ 61
Accounts receivable, less allowance for credit losses of $32 and $16, respectively 329 650
Current portion of program broadcast rights, net 7 27
Income tax refunds receivable 21 22
Prepaid income taxes 67 43
Prepaid and other current assets 52 54
Total current assets 512 857
Property and equipment, net 1,574 1,466
Operating leases right of use asset 79 75
Broadcast licenses 5,320 5,331
Goodwill 2,660 2,663
Other intangible assets, net 537 636
Investments in broadcasting and technology companies 108 105
Deferred pension assets 5 5
Other 15 14
Total assets 10,810 11,152
Liabilities and stockholders’ equity:    
Accounts payable 33 55
Employee compensation and benefits 71 98
Accrued interest 62 60
Accrued network programming fees 40 39
Other accrued expenses 51 50
Federal and state income taxes 12 15
Current portion of program broadcast obligations 8 29
Deferred revenue 40 24
Dividends payable 14 14
Current portion of operating lease liabilities 11 10
Current portion of long-term debt 15 15
Total current liabilities 357 409
Long-term debt, less current portion and deferred financing costs 6,197 6,440
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,448 1,454
Operating lease liabilities, less current portion 71 68
Other 26 14
Total liabilities 8,100 8,386
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 1,175 1,242
Accumulated other comprehensive loss, net of income tax benefit (15) (12)
Stockholders' equity before treasury stock 2,373 2,425
Total stockholders’ equity 2,060 2,116
Total liabilities and stockholders’ equity 10,810 11,152
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,168 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)