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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets:    
Cash $ 134 $ 21
Accounts receivable, less allowance for credit losses of $16 and $17, respectively 362 342
Current portion of program broadcast rights, net 12 18
Income tax refunds receivable 21 21
Prepaid income taxes 14 18
Prepaid and other current assets 58 48
Total current assets 601 468
Property and equipment, net 1,590 1,601
Operating lease right of use asset 71 75
Broadcast licenses 5,320 5,320
Goodwill 2,643 2,643
Other intangible assets, net 384 415
Investment in broadcasting, production and technology companies 86 85
Deferred pension assets 18 17
Other 22 16
Total assets 10,735 10,640
Liabilities and stockholders’ equity:    
Accounts payable 36 23
Employee compensation and benefits 77 110
Accrued interest 93 63
Accrued network programming fees 39 37
Other accrued expenses 50 57
Federal and state income taxes 56 22
Current portion of program broadcast obligations 12 20
Deferred revenue 22 23
Dividends payable 14 14
Current portion of operating lease liabilities 10 11
Current portion of long-term debt 15 15
Total current liabilities 424 395
Long-term debt, less current portion and less deferred financing costs 6,139 6,145
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,353 1,359
Operating lease liabilities, less current portion 65 69
Other 53 50
Total liabilities 8,035 8,019
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 1,151 1,084
Accumulated other comprehensive loss (23) (23)
Stockholders' equity before treasury stock 2,367 2,285
Total stockholders’ equity 2,050 1,971
Total liabilities and stockholders’ equity 10,735 10,640
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,187 1,174
Treasury stock at cost (284) (282)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 52 50
Treasury stock at cost $ (33) $ (32)