XML 19 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
REVENUES:      
Media revenues $ 2,543,876 $ 2,499,549 $ 2,011,946
Revenues realized from station barter arrangements 120,963 135,566 111,337
Other non-media revenues 69,279 101,834 95,853
Total revenues 2,734,118 2,736,949 2,219,136
OPERATING EXPENSES:      
Media production expenses 1,063,074 953,089 733,199
Media selling, general and administrative expenses 533,537 501,589 431,728
Expenses recognized from station barter arrangements 98,973 116,954 93,204
Amortization of program contract costs and net realizable value adjustments 115,523 127,880 124,619
Other non-media expenses 65,199 80,648 71,803
Depreciation of property and equipment 97,103 98,529 103,433
Corporate general and administrative expenses 113,253 73,556 64,246
Amortization of definite-lived intangible and other assets 178,822 183,795 161,454
Research and development expenses 10,000 4,085 12,436
(Gain) loss on asset dispositions (278,872) (6,029) 278
Total operating expenses 1,996,612 2,134,096 1,796,400
Operating income 737,506 602,853 422,736
OTHER INCOME (EXPENSE):      
Interest expense and amortization of debt discount and deferred financing costs (212,315) (211,143) (191,447)
Loss from extinguishment of debt (1,404) (23,699) 0
(Loss) income from equity and cost method investments (13,919) 1,735 964
Other income, net 8,876 3,144 1,540
Total other expense (218,762) (229,963) (188,943)
Income before income taxes 518,744 372,890 233,793
INCOME TAX BENEFIT (PROVISION) 75,360 (122,128) (57,694)
NET INCOME 594,104 250,762 176,099
Net income attributable to the noncontrolling interests (18,091) (5,461) (4,575)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ 576,013 $ 245,301 $ 171,524
Dividends declared per share (in dollars per share) $ 0.72 $ 0.71 $ 0.66
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:      
Basic earnings per share (in dollars per share) 5.77 2.62 1.81
Diluted earnings per share (in dollars per share) $ 5.72 $ 2.60 $ 1.79
Weighted average common shares outstanding (in shares) 99,844 93,567 95,003
Weighted average common and common equivalent shares outstanding (in shares) 100,789 94,433 95,728