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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets:    
Cash $ 75 $ 21
Accounts receivable, less allowance for credit losses of $16 and $17, respectively 344 342
Current portion of program broadcast rights, net 5 18
Income tax refunds receivable 0 21
Prepaid income taxes 65 18
Prepaid and other current assets 49 48
Total current assets 538 468
Property and equipment, net 1,582 1,601
Operating leases right of use asset 70 75
Broadcast licenses 5,320 5,320
Goodwill 2,643 2,643
Finite-Lived Intangible Assets, Net 352 415
Investments in broadcasting and technology companies 86 85
Deferred pension assets 19 17
Other 24 16
Total assets 10,634 10,640
Liabilities and stockholders’ equity:    
Accounts payable 32 23
Employee compensation and benefits 85 110
Accrued interest 49 63
Accrued network programming fees 39 37
Other accrued expenses 49 57
Federal and state income taxes 11 22
Current portion of program broadcast obligations 5 20
Deferred revenue 23 23
Dividends payable 15 14
Current portion of operating lease liabilities 10 11
Current portion of long-term debt 13 15
Total current liabilities 331 395
Long-term debt, less current portion and deferred financing costs 6,125 6,145
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,349 1,359
Operating lease liabilities, less current portion 64 69
Other 59 50
Total liabilities 7,929 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 1,152 1,084
Accumulated other comprehensive loss, net of income tax benefit (25) (23)
Stockholders' equity before treasury stock 2,372 2,285
Total stockholders’ equity 2,055 1,971
Total liabilities and stockholders’ equity 10,634 10,640
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,191 1,174
Treasury stock at cost (284) (282)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 54 50
Treasury stock at cost $ (33) $ (32)