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CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Schedule of condensed consolidating balance sheet CONDENSED CONSOLIDATED BALANCE SHEET
AS OF DECEMBER 31, 2018
(In thousands)
 
 
Sinclair
Broadcast
Group,
Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
Cash and cash equivalents
$
—

 
$
961,963

 
$
19,648

 
$
78,719

 
$
—

 
$
1,060,330

Accounts and other receivables
—

 
—

 
530,543

 
68,054

 
—

 
598,597

Other current assets
3,235

 
5,548

 
103,111

 
37,157

 
(24,072
)
 
124,979

Total current assets
3,235

 
967,511

 
653,302

 
183,930

 
(24,072
)
 
1,783,906

 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment, net
754

 
31,773

 
593,755

 
70,223

 
(13,371
)
 
683,134

 
 
 
 
 
 
 
 
 
 
 
 
Investment in consolidated subsidiaries
1,604,234

 
3,654,263

 
4,179

 
—

 
(5,262,676
)
 
—

Other long-term assets
31,002

 
851,170

 
119,187

 
165,064

 
(970,375
)
 
196,048

Goodwill
—

 
—

 
2,120,035

 
3,867

 
—

 
2,123,902

Indefinite-lived intangible assets
—

 
—

 
143,924

 
14,298

 
—

 
158,222

Definite-lived intangible assets
—

 
—

 
1,608,748

 
70,409

 
(52,277
)
 
1,626,880

Total assets
$
1,639,225

 
$
5,504,717

 
$
5,243,130

 
$
507,791

 
$
(6,322,771
)
 
$
6,572,092

 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
100

 
$
78,814

 
$
273,444

 
$
85,875

 
$
(25,006
)
 
$
413,227

Current portion of long-term debt
—

 
31,135

 
4,100

 
7,842

 
(513
)
 
42,564

Other current liabilities
—

 
—

 
107,051

 
9,743

 
—

 
116,794

Total current liabilities
100

 
109,949

 
384,595

 
103,460

 
(25,519
)
 
572,585

 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
3,775,489

 
36,551

 
381,913

 
(344,062
)
 
3,849,891

Other liabilities
289

 
40,132

 
1,169,184

 
173,197

 
(833,506
)
 
549,296

Total liabilities
389

 
3,925,570

 
1,590,330

 
658,570

 
(1,203,087
)
 
4,971,772

 
 
 
 
 
 
 
 
 
 
 
 
Total Sinclair Broadcast Group equity
1,638,836

 
1,579,147

 
3,652,800

 
(107,825
)
 
(5,124,122
)
 
1,638,836

Noncontrolling interests in consolidated subsidiaries
—

 
—

 
—

 
(42,954
)
 
4,438

 
(38,516
)
Total liabilities and equity
$
1,639,225

 
$
5,504,717

 
$
5,243,130

 
$
507,791

 
$
(6,322,771
)
 
$
6,572,092

CONDENSED CONSOLIDATED BALANCE SHEET
AS OF DECEMBER 31, 2017
(In thousands)
 
 
Sinclair
Broadcast
Group, Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
Cash and cash equivalents
$
—

 
$
645,830

 
$
12,273

 
$
23,223

 
$
—

 
$
681,326

Restricted Cash
—

 
—

 
311,110

 
2,000

 
—

 
313,110

Accounts and other receivables
—

 
—

 
530,273

 
36,191

 
—

 
566,464

Other current assets
3,034

 
5,758

 
145,637

 
9,687

 
(10,269
)
 
153,847

Total current assets
3,034

 
651,588

 
999,293

 
71,101

 
(10,269
)
 
1,714,747

 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment, net
829

 
31,111

 
586,950

 
132,010

 
(12,602
)
 
738,298

 
 
 
 
 
 
 
 
 
 
 
 
Investment in consolidated subsidiaries
1,537,337

 
4,116,241

 
4,179

 
—

 
(5,657,757
)
 
—

Other long-term assets
31,757

 
770,312

 
104,363

 
208,367

 
(868,448
)
 
246,351

Goodwill
—

 
—

 
2,120,166

 
3,867

 
—

 
2,124,033

Indefinite-lived intangible assets
—

 
—

 
145,073

 
14,298

 
—

 
159,371

Definite-lived intangible assets
—

 
—

 
1,781,045

 
77,944

 
(57,319
)
 
1,801,670

Total assets
$
1,572,957

 
$
5,569,252

 
$
5,741,069

 
$
507,587

 
$
(6,606,395
)
 
$
6,784,470

 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued liabilities
$
1,100

 
$
84,326

 
$
261,266

 
$
36,029

 
$
(12,318
)
 
$
370,403

Current portion of long-term debt
—

 
148,505

 
3,445

 
9,645

 
(546
)
 
161,049

Other current liabilities
—

 
—

 
180,616

 
14,281

 
—

 
194,897

Total current liabilities
1,100

 
232,831

 
445,327

 
59,955

 
(12,864
)
 
726,349

 
 
 
 
 
 
 
 
 
 
 
 
Long-term debt
—

 
3,799,987

 
39,730

 
381,127

 
(333,243
)
 
3,887,601

Other liabilities
3,119

 
38,282

 
1,141,266

 
187,569

 
(734,082
)
 
636,154

Total liabilities
4,219

 
4,071,100

 
1,626,323

 
628,651

 
(1,080,189
)
 
5,250,104

 
 
 
 
 
 
 
 
 
 
 
 
Total Sinclair Broadcast Group equity
1,568,738

 
1,498,152

 
4,114,746

 
(82,051
)
 
(5,530,847
)
 
1,568,738

Noncontrolling interests in consolidated subsidiaries
—

 
—

 
—

 
(39,013
)
 
4,641

 
(34,372
)
Total liabilities and equity
$
1,572,957

 
$
5,569,252

 
$
5,741,069

 
$
507,587

 
$
(6,606,395
)
 
$
6,784,470
Schedule of condensed consolidating statement of operations and comprehensive income CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2017
(In thousands)
 
 
Sinclair
Broadcast
Group, Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
Net revenue (a)
$
—

 
$
—

 
$
2,507,183

 
$
209,914

 
$
(80,882
)
 
$
2,636,215

 
 
 
 
 
 
 
 
 
 
 
 
Media production expenses
—

 
—

 
1,013,035

 
124,044

 
(72,935
)
 
1,064,144

Selling, general and administrative
9,204

 
102,930

 
522,039

 
14,800

 
(2,183
)
 
646,790

Depreciation, amortization and other operating expenses
984

 
6,250

 
131,880

 
51,461

 
(2,800
)
 
187,775

Total operating expenses
10,188

 
109,180

 
1,666,954

 
190,305

 
(77,918
)
 
1,898,709

 
 
 
 
 
 
 
 
 
 
 
 
Operating (loss) income
(10,188
)
 
(109,180
)
 
840,229

 
19,609

 
(2,964
)
 
737,506

 
 
 
 
 
 
 
 
 
 
 
 
Equity in earnings of consolidated subsidiaries
579,954

 
793,620

 
(16
)
 
—

 
(1,373,558
)
 
—

Interest expense
(88
)
 
(205,107
)
 
(4,586
)
 
(21,643
)
 
19,109

 
(212,315
)
Other income (expense)
1,678

 
5,077

 
(5,790
)
 
(7,412
)
 
—

 
(6,447
)
Total other income (expense)
581,544

 
593,590

 
(10,392
)
 
(29,055
)
 
(1,354,449
)
 
(218,762
)
 
 
 
 
 
 
 
 
 
 
 
 
Income tax benefit (provision)
4,657

 
100,473

 
(30,171
)
 
401

 
—

 
75,360

Net income (loss)
576,013

 
584,883

 
799,666

 
(9,045
)
 
(1,357,413
)
 
594,104

Net income attributable to the noncontrolling interests
—

 
—

 
—

 
(17,738
)
 
(353
)
 
(18,091
)
Net income (loss) attributable to Sinclair Broadcast Group
$
576,013

 
$
584,883

 
$
799,666

 
$
(26,783
)
 
$
(1,357,766
)
 
$
576,013

Comprehensive income (loss)
$
593,488

 
$
584,267

 
$
799,666

 
$
(9,045
)
 
$
(1,374,888
)
 
$
593,488

 
(a)
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.

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2016
(In thousands)
 
 
Sinclair
Broadcast
Group, Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
Net revenue (a)
$
—

 
$
—

 
$
2,476,669

 
$
254,031

 
$
(108,190
)
 
$
2,622,510

 
 
 
 
 
 
 
 
 
 
 
 
Media production expenses
—

 
—

 
920,715

 
135,511

 
(100,622
)
 
955,604

Selling, general and administrative
4,062

 
70,503

 
489,882

 
10,804

 
(106
)
 
575,145

Depreciation, amortization and other operating expenses
1,064

 
7,331

 
360,550

 
121,986

 
(2,023
)
 
488,908

Total operating expenses
5,126

 
77,834

 
1,771,147

 
268,301

 
(102,751
)
 
2,019,657

 
 
 
 
 
 
 
 
 
 
 
 
Operating (loss) income
(5,126
)
 
(77,834
)
 
705,522

 
(14,270
)
 
(5,439
)
 
602,853

 
 
 
 
 
 
 
 
 
 
 
 
Equity in earnings of consolidated subsidiaries
244,580

 
463,598

 
220

 
—

 
(708,398
)
 
—

Interest expense
(238
)
 
(198,893
)
 
(4,481
)
 
(32,521
)
 
24,990

 
(211,143
)
Other income (expense)
3,613

 
(22,867
)
 
715

 
(281
)
 
—

 
(18,820
)
Total other income (expense)
247,955

 
241,838

 
(3,546
)
 
(32,802
)
 
(683,408
)
 
(229,963
)
 
 
 
 
 
 
 
 
 
 
 
 
Income tax benefit (provision)
2,472

 
99,148

 
(231,504
)
 
7,756

 
—

 
(122,128
)
Net income (loss)
245,301

 
263,152

 
470,472

 
(39,316
)
 
(688,847
)
 
250,762

Net income attributable to the noncontrolling interests
—

 
—

 
—

 
(4,937
)
 
(524
)
 
(5,461
)
Net income (loss) attributable to Sinclair Broadcast Group
$
245,301

 
$
263,152

 
$
470,472

 
$
(44,253
)
 
$
(689,371
)
 
$
245,301

Comprehensive income (loss)
$
250,789

 
$
263,179

 
$
470,472

 
$
(39,316
)
 
$
(694,335
)
 
$
250,789

 
Schedule of condensed consolidating statement of cash flows CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2018
(In thousands)
 
 
Sinclair
Broadcast
Group, Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES
$
(8,542
)
 
$
(252,615
)
 
$
936,385

 
$
(40,533
)
 
$
12,723

 
647,418

CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Acquisition of property and equipment
(1
)
 
(6,592
)
 
(98,201
)
 
(3,914
)
 
3,647

 
(105,061
)
Proceeds from sale of assets
—

 
—

 
1,616

 
—

 
—

 
1,616

Investments in equity investees
(2,587
)
 
(1,975
)
 
(27,960
)
 
(3,283
)
 
—

 
(35,805
)
Distributions from equity method investees
4,728

 
—

 
—

 
18,106

 
—

 
22,834

Other, net
1,670

 
(12,091
)
 
8,626

 
—

 
—

 
(1,795
)
Net cash flows from (used in) investing activities
3,810

 
(20,658
)
 
(115,919
)
 
10,909

 
3,647

 
(118,211
)
 
 
 


 
 
 
 
 
 
 
 
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Proceeds from notes payable, commercial bank financing and capital leases
—

 
—

 
—

 
4,317

 
—

 
4,317

Repayments of notes payable, commercial bank financing and capital leases
—

 
(148,505
)
 
(3,554
)
 
(15,120
)
 
394

 
(166,785
)
Dividends paid on Class A and Class B Common Stock
(74,566
)
 
—

 
—

 
—

 
—

 
(74,566
)
Repurchase of outstanding Class A Common Stock
(220,889
)
 
—

 
—

 
—

 
—

 
(220,889
)
Payments for deferred financing cost
—

 
—

 
—

 
(922
)
 
—

 
(922
)
Distributions to noncontrolling interests
—

 
—

 
—

 
(8,901
)
 
—

 
(8,901
)
Increase (decrease) in intercompany payables
297,256

 
737,911

 
(1,117,417
)
 
100,440

 
(18,190
)
 
—

Other, net
2,931

 
—

 
(3,230
)
 
1,802

 
1,426

 
2,929

Net cash flows from (used in) financing activities
4,732

 
589,406

 
(1,124,201
)
 
81,616

 
(16,370
)
 
(464,817
)
 


 


 


 


 


 
 
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
—

 
316,133

 
(303,735
)
 
51,992

 
—

 
64,390

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period
—

 
645,830

 
323,383

 
26,727

 
—

 
995,940

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period
$
—

 
$
961,963

 
$
19,648

 
$
78,719

 
$
—

 
$
1,060,330

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2017 (a)
(In thousands)
 
Sinclair
Broadcast
Group, Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES
$
(8,659
)
 
$
(180,966
)
 
$
600,070

 
$
12,424

 
$
8,544

 
$
431,413

CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
 

 
 

 
 

 
 

 
 

 
 
Acquisition of property and equipment
(130
)
 
(14,973
)
 
(68,475
)
 
(2,930
)
 
2,696

 
(83,812
)
Acquisition of businesses, net of cash acquired
—

 
(8,308
)
 
(262,965
)
 
—

 
—

 
(271,273
)
Purchase of alarm monitoring contracts
—

 
—

 
—

 
(5,682
)
 
—

 
(5,682
)
Proceeds from sale of assets
—

 
—

 
568

 
194,641

 
—

 
195,209

Investments in equity investees
(946
)
 
(720
)
 
(20,701
)
 
(32,762
)
 
—

 
(55,129
)
Distributions from equity method investees
5,857

 
—

 
—

 
6,321

 
—

 
12,178

Spectrum auction proceeds
—

 
—

 
310,802

 
—

 
—

 
310,802

Other, net
740

 
11,551

 
—

 
—

 
—

 
12,291

Net cash flows from (used in) investing activities
5,521

 
(12,450
)
 
(40,771
)
 
159,588

 
2,696

 
114,584

 
 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
 

 
 

 
 

 
 

 
 

 
 
Proceeds from notes payable, commercial bank financing and capital leases
—

 
159,669

 
—

 
7,128

 
—

 
166,797

Repayments of notes payable, commercial bank financing and capital leases
(1,858
)
 
(213,919
)
 
(3,381
)
 
(121,270
)
 
320

 
(340,108
)
Proceeds from sale of Class A Common Stock
487,883

 
—

 
—

 
—

 
—

 
487,883

Dividends paid on Class A and Class B Common Stock
(71,364
)
 
—

 
—

 
—

 
—

 
(71,364
)
Repurchase of outstanding Class A Common Stock
(30,287
)
 
—

 
—

 
—

 
—

 
(30,287
)
Payments for deferred financing costs
—

 
(425
)
 
—

 
(306
)
 
—

 
(731
)
Distributions to noncontrolling interests
—

 
—

 
—

 
(22,416
)
 
—

 
(22,416
)
Increase (decrease) in intercompany payables
(381,344
)
 
660,911

 
(242,402
)
 
(25,605
)
 
(11,560
)
 
—

Other, net
108

 
713

 
(1,008
)
 
172

 
—

 
(15
)
Net cash flows from (used in) financing activities
3,138

 
606,949

 
(246,791
)
 
(162,297
)
 
(11,240
)
 
189,759

 
 
 
 
 
 
 
 
 
 
 
 
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
—

 
413,533

 
312,508

 
9,715

 
—

 
735,756

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period
—

 
232,297

 
10,875

 
17,012

 
—

 
260,184

CASH, CASH EQUIVALENTS, AND RESTRICTD CASH, end of period
$
—

 
$
645,830

 
$
323,383

 
$
26,727

 
$
—

 
$
995,940


 
(a) 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.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2016 (a)
(In thousands)
 
 
Sinclair
Broadcast
Group, Inc.
 
Sinclair
Television
Group, Inc.
 
Guarantor
Subsidiaries
and KDSM,
LLC
 
Non-
Guarantor
Subsidiaries
 
Eliminations
 
Sinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES
$
(11,784
)
 
$
(130,406
)
 
$
721,991

 
$
7,914

 
$
23,875

 
$
611,590

CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Acquisition of property and equipment
—

 
(8,006
)
 
(82,450
)
 
(5,009
)
 
1,000

 
(94,465
)
Acquisition of businesses, net of cash acquired
—

 
—

 
(415,282
)
 
(10,375
)
 
—

 
(425,657
)
Purchase of alarm monitoring contracts
—

 
—

 
—

 
(40,206
)
 
—

 
(40,206
)
Proceeds from sale of assets
—

 
—

 
8,069

 
9,133

 
—

 
17,202

Investments in equity investees
(2,945
)
 
(15,620
)
 
(27
)
 
(32,655
)
 
—

 
(51,247
)
Other, net
1,714

 
(25,120
)
 
3,179

 
5,072

 
—

 
(15,155
)
Net cash flows (used in) from investing activities
(1,231
)
 
(48,746
)
 
(486,511
)
 
(74,040
)
 
1,000

 
(609,528
)
 
 
 
 
 
 
 
 
 
 
 
 
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
Proceeds from notes payable, commercial bank financing and capital leases
—

 
995,000

 
—

 
29,912

 
—

 
1,024,912

Repayments of notes payable, commercial bank financing and capital leases
(1,651
)
 
(650,422
)
 
(3,007
)
 
(19,612
)
 
253

 
(674,439
)
Dividends paid on Class A and Class B Common Stock
(65,909
)
 
—

 
—

 
—

 
—

 
(65,909
)
Repurchases of outstanding Class A Common Stock
(136,283
)
 
—

 
—

 
—

 
—

 
(136,283
)
Payments for deferred financing costs
—

 
(35,254
)
 
—

 
(251
)
 
—

 
(35,505
)
Distributions to noncontrolling interests
—

 
—

 
—

 
(10,464
)
 
—

 
(10,464
)
Increase (decrease) in intercompany payables
218,054

 
(17,778
)
 
(224,551
)
 
49,403

 
(25,128
)
 
—

Other, net
(1,196
)
 
407

 
2,718

 
184

 
—

 
2,113

Net cash flows from (used in) financing activities
13,015

 
291,953

 
(224,840
)
 
49,172

 
(24,875
)
 
104,425

 
 
 
 
 
 
 
 
 
 
 
 
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH
—

 
112,801

 
10,640

 
(16,954
)
 
—

 
106,487

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period
—

 
119,496

 
235

 
33,966

 
—

 
153,697

CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period
$
—

 
$
232,297

 
$
10,875

 
$
17,012

 
$
—

 
$
260,184

 
(a) 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.