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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Assets:    
Cash $ 69 $ 21
Accounts receivable, less allowance for credit losses of $15 and $17, respectively 358 342
Current portion of program broadcast rights, net 25 18
Income tax refund receivable 6 21
Prepaid income taxes 67 18
Prepaid and other current assets 51 48
Total current assets 576 468
Property and equipment, net 1,583 1,601
Operating leases right of use asset 69 75
Broadcast licenses 5,311 5,320
Goodwill 2,642 2,643
Other intangible assets, net 321 415
Investments in broadcasting and technology companies 86 85
Deferred pension assets 20 17
Other 23 16
Total assets 10,631 10,640
Liabilities and stockholders’ equity:    
Accounts payable 17 23
Employee compensation and benefits 96 110
Accrued interest 120 63
Accrued network programming fees 80 37
Other accrued expenses 63 57
Federal and state income taxes 9 22
Current portion of program broadcast obligations 25 20
Deferred revenue 50 23
Dividends payable 15 14
Current portion of operating lease liabilities 10 11
Current portion of long-term debt 23 15
Total current liabilities 508 395
Long-term debt, less current portion and deferred financing costs 5,870 6,145
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,344 1,359
Operating lease liabilities, less current portion 62 69
Other 66 50
Total liabilities 7,851 8,019
Commitments and contingencies (Note 10)
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 1,227 1,084
Accumulated other comprehensive loss, net of income tax benefit (30) (23)
Stockholders' equity before treasury stock 2,447 2,285
Total stockholders’ equity 2,130 1,971
Total liabilities and stockholders’ equity 10,631 10,640
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,195 1,174
Treasury stock at cost (284) (282)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 55 50
Treasury stock at cost $ (33) $ (32)