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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income (loss) $ 88 $ (31)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 36 35
Amortization of intangible assets 31 49
Amortization of deferred loan costs 3 4
Amortization of restricted stock awards 6 2
Amortization of program broadcast rights 7 10
Payments on program broadcast obligations (8) (11)
Deferred income taxes (6) 8
Loss on disposal of assets, net 0 10
Gain on sale of investment (110) 0
Loss on early extinguishment of debt 0 3
Other (2) 5
Changes in operating assets and liabilities:    
Accounts receivable, net (20) 317
Income tax receivable or prepaid 4 (21)
Other current assets (10) 9
Accounts payable 13 (15)
Employee compensation, benefits and pension cost (33) (34)
Accrued network fees and other expenses 5 41
Accrued interest 30 27
Income taxes payable 34 3
Deferred revenue 0 1
Net cash provided by operating activities 68 412
Investing activities    
Purchases of property and equipment (34) (110)
Proceeds from asset sales 7 8
Proceeds from sale of investment 110 0
Reimbursement of development costs 0 11
Investments in broadcast, production and technology companies (3) (4)
Net cash provided by (used in) investing activities 80 (95)
Financing activities    
Proceeds from borrowings on long-term debt 50 50
Repayments of borrowings on long-term debt (54) (349)
Payment of common stock dividends (8) (7)
Payment of preferred stock dividends (13) (13)
Deferred and other loan costs (7) 0
Payment for taxes related to net share settlement of equity awards (3) (3)
Net cash used in financing activities (35) (322)
Net increase (decrease) in cash 113 (5)
Cash at beginning of period 21 61
Cash at end of period $ 134 $ 56