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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Revenues $ 1,283 $ 771 $ 2,892 $ 1,493
OPERATING EXPENSES:        
Media programming and production expenses 383 335 1,211 654
Media selling, general and administrative expenses 186 165 396 325
Amortization of program contract costs 21 22 44 46
Non-media expenses 21 39 51 78
Depreciation of property and equipment 26 22 50 45
Corporate general and administrative expenses 32 52 81 80
Amortization of definite-lived intangible and other assets 150 44 300 87
Gain on asset dispositions and other, net of impairment (28) (14) (60) (22)
Total operating expenses 791 665 2,073 1,293
Operating income 492 106 819 200
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (165) (54) (345) (108)
Gain on extinguishment of debt 3 0 5 0
Loss from equity method investments (7) (12) (13) (26)
Other income, net 4 6 0 8
Total other expense, net (165) (60) (353) (126)
Income before income tax 327 46 466 74
INCOME TAX PROVISION (54) (3) (42) (8)
NET INCOME 273 43 424 66
Net income attributable to the redeemable noncontrolling interests (12) 0 (32) 0
Net income attributable to the noncontrolling interests (9) (1) (17) (2)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ 252 $ 42 $ 375 $ 64
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:        
Basic earnings per share (USD per share) $ 3.13 $ 0.46 $ 4.39 $ 0.70
Diluted earnings per share (USD per share) $ 3.12 $ 0.45 $ 4.36 $ 0.69
Weighted average common shares outstanding (shares) 80,425 91,764 85,517 92,032
Weighted average common and common equivalent shares outstanding (shares) 80,737 93,163 85,981 93,189
Media revenues        
REVENUES:        
Revenues $ 1,260 $ 721 $ 2,834 $ 1,394
Non-media revenues        
REVENUES:        
Revenues $ 23 $ 50 $ 58 $ 99