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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Cash $ 135 $ 21
Accounts receivable, less allowance for credit losses of $15 and $17, respectively 337 342
Current portion of program broadcast rights, net 17 18
Income tax refunds receivable 6 21
Prepaid income taxes 25 18
Prepaid and other current assets 21 48
Total current assets 541 468
Property and equipment, net 1,577 1,601
Operating lease right of use asset 69 75
Broadcast licenses 5,311 5,320
Goodwill 2,642 2,643
Other intangible assets, net 290 415
Investments in broadcasting and technology companies 66 85
Deferred pension assets 19 17
Other 27 16
Total assets 10,542 10,640
Liabilities and stockholders’ equity:    
Accounts payable 75 23
Employee compensation and benefits 111 110
Accrued interest 112 63
Accrued network programming fees 79 37
Other accrued expenses 53 57
Federal and state income taxes 5 22
Current portion of program broadcast obligations 18 20
Deferred revenue 29 23
Dividends payable 15 14
Current portion of operating lease liabilities 10 11
Current portion of long-term debt 20 15
Total current liabilities 527 395
Long-term debt, less current portion and less deferred financing costs 5,601 6,145
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,347 1,359
Operating lease liabilities, less current portion 62 69
Other 71 50
Total liabilities 7,609 8,019
Commitments and contingencies (Note 12)
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 1,375 1,084
Accumulated other comprehensive loss (30) (23)
Stockholders' equity before treasury stock 2,600 2,285
Total stockholders’ equity 2,283 1,971
Total liabilities and stockholders’ equity 10,542 10,640
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,198 1,174
Treasury stock at cost (284) (282)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 57 50
Treasury stock at cost $ (33) $ (32)