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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
REVENUES:      
Media revenues [1] $ 2,918,727 $ 2,566,936 $ 2,520,676
Non-media revenues 136,354 69,279 101,834
Total revenues 3,055,081 2,636,215 2,622,510
OPERATING EXPENSES:      
Media production expenses 1,191,016 1,064,144 955,604
Media selling, general and administrative expenses 629,919 533,537 501,589
Amortization of program contract costs and net realizable value adjustments 100,899 115,523 127,880
Non-media expenses 122,491 75,199 84,733
Depreciation of property and equipment 105,240 97,103 [2] 98,529 [2]
Corporate general and administrative expenses 111,070 113,253 73,556
Amortization of definite-lived intangible and other assets 174,848 178,822 [2] 183,795 [2]
Gain on asset dispositions and other, net of impairment (40,063) (278,872) (6,029)
Total operating expenses 2,395,420 1,898,709 2,019,657
Operating income 659,661 737,506 602,853
OTHER INCOME (EXPENSE):      
Interest expense and amortization of debt discount and deferred financing costs (291,976) (212,315) (211,143)
Loss from extinguishment of debt 0 (1,404) [2] (23,699) [2]
(Loss) income from equity method investments (60,831) (14,307) 906
Other income, net 3,369 9,264 3,973
Total other expense (349,438) (218,762) (229,963)
Income before income taxes 310,223 518,744 372,890
INCOME TAX BENEFIT (PROVISION) 35,775 75,360 (122,128)
NET INCOME 345,998 594,104 [2] 250,762 [2]
Net income attributable to the noncontrolling interests (4,757) (18,091) (5,461)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ 341,241 $ 576,013 $ 245,301
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:      
Basic earnings per share (in dollars per share) $ 3.38 $ 5.77 $ 2.62
Diluted earnings per share (in dollars per share) $ 3.35 $ 5.72 $ 2.60
Weighted average common shares outstanding (in shares) 100,913 99,844 93,567
Weighted average common and common equivalent shares outstanding (in shares) 101,718 100,789 94,433
[1] See Revenue Recognition within Note 1. Nature of Operations and Summary of Significant Accounting Policies for a discussion of the adoption of the new accounting principles for revenue recognition.
[2] See Recent Accounting Pronouncements within Note 1. Nature of Operations and Summary of Significant Accounting Policies for a discussion of the adoption of new accounting principles related to the classification of certain cash receipts and cash payments.