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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue (less agency commissions) $ 813 $ 868 $ 1,614 $ 1,695
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Depreciation     70 63
Amortization of intangible assets     99 104
Loss (gain) on disposal of assets, net 16 0 26 (5)
Operating expenses 694 650 1,428 1,313
Operating income 119 218 186 382
Other expense:        
Miscellaneous expense, net (1) 0 (3) (2)
Interest expense (109) (81) (213) (160)
Loss from early extinguishment of debt 0 0 (3) 0
Income (loss) before income taxes 9 137 (33) 220
Income tax expense (benefit) 5 38 (6) 59
Net income (loss) 4 99 (27) 161
Preferred stock dividends 13 13 26 26
Net (loss) income attributable to common stockholders $ (9) $ 86 $ (53) $ 135
Basic per share information:        
Net (loss) income attributable to common stockholders (in dollars per share) $ (0.10) $ 0.92 $ (0.58) $ 1.45
Weighted-average shares outstanding, basic (in shares) 93 93 92 93
Diluted per share information:        
Net (loss) income attributable to common stockholders (in dollars per share) $ (0.10) $ 0.91 $ (0.58) $ 1.44
Weighted-average shares outstanding, diluted (in shares) 93 94 92 94
Dividends declared per common share (in dollars per share) $ 0.08 $ 0.08 $ 0.16 $ 0.16
Broadcasting, Segment [Member]        
Revenue (less agency commissions) $ 801 $ 855 $ 1,580 $ 1,659
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Cost of goods and services sold 552 528 1,107 1,058
Production Companies, Segment [Member]        
Revenue (less agency commissions) 12 13 34 36
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Cost of goods and services sold 11 14 70 40
Other Segments [Member]        
Operating expenses before depreciation, amortization and gain on disposal of assets, net:        
Corporate and administrative 30 25 56 53
Depreciation 35 31 70 63
Amortization of intangible assets $ 50 $ 52 $ 99 $ 104