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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 632,000 $ 1,333,000
Accounts receivable, net of allowance for doubtful accounts of $4 and $8, respectively 1,108,000 1,132,000
Income taxes receivable 248,000 103,000
Prepaid sports rights 335,000 113,000
Prepaid expenses and other current assets 218,000 232,000
Total current assets 2,541,000 2,913,000
Property and equipment, net 814,000 765,000
Operating lease assets 206,000 223,000
Deferred tax assets 259,000 0
Restricted cash 1,000 0
Goodwill 2,092,000 4,716,000
Indefinite-lived intangible assets 163,000 158,000
Definite-lived intangible assets, net 5,747,000 7,977,000
Other assets 660,000 618,000
Total assets [1] 12,483,000 17,370,000
Current liabilities:    
Accounts payable and accrued liabilities 466,000 782,000
Current portion of notes payable, finance leases, and commercial bank financing 72,000 71,000
Current portion of operating lease liabilities 38,000 38,000
Current portion of program contracts payable 111,000 88,000
Other current liabilities 287,000 155,000
Total current liabilities 974,000 1,134,000
Notes payable, finance leases, and commercial bank financing, less current portion 12,391,000 12,367,000
Operating lease liabilities, less current portion 203,000 217,000
Program contracts payable, less current portion 34,000 39,000
Deferred tax liabilities 0 407,000
Other long-term liabilities 364,000 434,000
Total liabilities [1] 13,966,000 14,598,000
Commitments and contingencies (See Note 5)
Redeemable noncontrolling interests 194,000 1,078,000
Shareholders' equity:    
Additional paid-in capital 711,000 1,011,000
Retained (deficit) earnings (2,438,000) 492,000
Accumulated other comprehensive loss (11,000) (2,000)
Total Sinclair Broadcast Group shareholders’ (deficit) equity (1,737,000) 1,502,000
Noncontrolling interests 60,000 192,000
Total (deficit) equity (1,677,000) 1,694,000
Total liabilities, redeemable noncontrolling interests, and equity 12,483,000 17,370,000
Class A Common Stock    
Shareholders' equity:    
Common Stock 1,000 1,000
Class B Common Stock    
Shareholders' equity:    
Common Stock 0 0
Customer relationships, net    
Current assets:    
Definite-lived intangible assets, net 4,384,000 5,979,000
Other definite-lived intangible assets, net    
Current assets:    
Definite-lived intangible assets, net 1,363,000 1,998,000
Consolidated VIEs    
Current assets:    
Cash and cash equivalents 37,000 39,000
Accounts receivable, net of allowance for doubtful accounts of $4 and $8, respectively 89,000 39,000
Prepaid sports rights 10,000 10,000
Prepaid expenses and other current assets 7,000 6,000
Total current assets 143,000 94,000
Property and equipment, net 17,000 15,000
Operating lease assets 6,000 8,000
Definite-lived intangible assets, net 55,000 93,000
Total assets 237,000 228,000
Current liabilities:    
Other current liabilities 35,000 19,000
Notes payable, finance leases, and commercial bank financing, less current portion 11,000 15,000
Operating lease liabilities, less current portion 5,000 6,000
Program contracts payable, less current portion 4,000 7,000
Other long-term liabilities 14,000 1,000
Total liabilities $ 69,000 $ 48,000
[1]
Our consolidated total assets as of September 30, 2020 and December 31, 2019 include total assets of variable interest entities (VIEs) of $237 million and $228 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of September 30, 2020 and December 31, 2019 include total liabilities of VIEs of $53 million and $27 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 8. Variable Interest Entities.