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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Cash $ 210 $ 135
Accounts receivable, less allowance for credit losses of $14 and $15, respectively 198 337
Current portion of program broadcast rights, net 11 17
Income tax refunds receivable 6 6
Prepaid income taxes 24 25
Prepaid and other current assets 34 21
Total current assets 483 541
Property and equipment, net 1,552 1,577
Operating lease right of use asset 70 69
Broadcast licenses 5,312 5,311
Goodwill 2,642 2,642
Finite-Lived Intangible Assets, Net 261 290
Investment in broadcasting and technology companies 72 66
Deferred pension assets 20 19
Other 26 27
Total assets 10,438 10,542
Liabilities and stockholders’ equity:    
Accounts payable 72 75
Employee compensation and benefits 75 111
Accrued interest 97 112
Accrued network programming fees 97 79
Other accrued expenses 109 53
Federal and state income taxes 6 5
Current portion of program broadcast obligations 11 18
Deferred revenue 21 29
Dividends payable 15 15
Current portion of operating lease liabilities 10 10
Current portion of long-term debt 20 20
Total current liabilities 533 527
Long-term debt, less deferred financing costs 5,589 5,601
Deferred income taxes 1,331 1,347
Operating lease liabilities, less current portion 63 62
Other 18 72
Total liabilities 7,534 7,609
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 1,345 1,375
Accumulated other comprehensive loss (31) (30)
Stockholders' Equity before Treasury Stock 2,576 2,600
Total stockholders’ equity 2,254 2,283
Total liabilities and stockholders’ equity 10,438 10,542
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,203 1,198
Treasury stock at cost (287) (284)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 59 57
Treasury stock at cost $ (35) $ (33)