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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES:        
Media revenues $ 624,169 $ 635,269 $ 1,858,477 $ 1,772,860
Revenues realized from station barter arrangements 31,787 32,061 91,817 92,574
Other non-media revenues 14,935 26,505 49,821 73,824
Total revenues 670,891 693,835 2,000,115 1,939,258
OPERATING EXPENSES:        
Media production expenses 267,993 242,880 795,140 702,377
Media selling, general and administrative expenses 133,605 126,672 385,372 370,169
Expenses realized from barter arrangements 26,696 27,181 77,491 79,365
Amortization of program contract costs and net realizable value adjustments 28,047 32,441 87,962 96,722
Other non-media expenses 14,945 20,488 46,921 57,946
Depreciation of property and equipment 24,442 25,886 72,026 74,330
Corporate general and administrative expenses 25,831 19,052 71,458 54,672
Amortization of definite-lived intangible and other assets 43,368 47,807 132,299 137,197
Research and development expenses 2,551 745 5,053 3,055
Gain on asset dispositions (34) (3,311) (53,531) (5,982)
Total operating expenses 567,444 539,841 1,620,191 1,569,851
Operating income 103,447 153,994 379,924 369,407
OTHER INCOME (EXPENSE):        
Interest expense and amortization of debt discount and deferred financing costs (51,743) (53,488) (160,020) (156,819)
Loss from extinguishment of debt 0 (23,699) (1,404) (23,699)
(Loss) income from equity and cost method investments (4,362) 1,423 (4,221) 2,789
Other income, net 2,342 789 5,601 2,355
Total other expense, net (53,763) (74,975) (160,044) (175,374)
Income before income taxes 49,684 79,019 219,880 194,033
INCOME TAX PROVISION (17,118) (26,986) (70,577) (65,771)
NET INCOME 32,566 52,033 149,303 128,262
Net income attributable to the noncontrolling interests (1,929) (1,188) (16,820) (3,858)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ 30,637 $ 50,845 $ 132,483 $ 124,404
Dividends declared per share (USD per share) $ 0.18 $ 0.18 $ 0.54 $ 0.525
BASIC AND DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:        
Basic earnings per share (USD per share) 0.30 0.54 1.34 1.32
Diluted earnings per share (USD per share) $ 0.30 $ 0.54 $ 1.32 $ 1.30
Weighted average common shares outstanding (shares) 102,245 93,948 99,210 94,595
Weighted average common and common equivalent shares outstanding (shares) 103,055 94,766 100,173 95,465