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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net (loss) income $ (67) $ 269
Adjustments to reconcile net (loss) income to net cash provided by    
Depreciation 106 96
Amortization of intangible assets 147 156
Amortization of deferred loan costs 10 12
Amortization of stock-based compensation 14 17
Amortization of program broadcast rights 29 36
Payments on program broadcast obligations (30) (37)
Deferred income taxes (57) (4)
Loss (gain) on disposal of assets, net 20 (6)
Loss from early extinguishment of debt 3 0
Impairment of investments 8 0
Impairment of goodwill and other intangible assets 43 0
Other 11 2
Changes in operating assets and liabilities:    
Accounts receivable, net 311 9
Income taxes receivable or prepaid 9 (22)
Other current assets 3 1
Accounts payable (29) (20)
Employee compensation, benefits and pension cost (16) (5)
Accrued network fees and other expenses 1 10
Accrued interest 32 34
Income taxes payable (2) (2)
Deferred revenue 19 50
Net cash provided by operating activities 565 596
Investing activities:    
Acquisitions of businesses and broadcast licenses, net of cash acquired (7) (53)
Proceeds from sale of television stations 6 0
Purchases of property and equipment (288) (298)
Proceeds from Repack reimbursement (Note 1) 0 7
Proceeds from asset sales 31 2
Reimbursement of development costs 11 0
Investments in broadcast, production and technology companies (11) (16)
Other (1) (4)
Net cash used in investing activities (259) (362)
Financing activities:    
Proceeds from borrowings on long-term debt 225 0
Repayments of borrowings on long-term debt (506) (161)
Repurchase of common stock 0 (50)
Payments of common stock dividends (22) (23)
Payments of preferred stock dividends (39) (39)
Payments of taxes related to net share settlement of equity awards (4) (6)
Net cash used in financing activities (346) (279)
Net decrease in cash (40) (45)
Cash at beginning of period 61 189
Cash at end of period $ 21 $ 144