XML 16 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Revenues $ 1,539 $ 1,125 $ 4,431 $ 2,618
OPERATING EXPENSES:        
Media programming and production expenses 1,077 560 2,288 1,215
Media selling, general and administrative expenses 212 185 608 510
Amortization of program contract costs 19 22 63 68
Non-media expenses 18 42 69 120
Depreciation of property and equipment 25 24 75 69
Corporate general and administrative expenses 30 237 111 317
Amortization of definite-lived intangible and other assets 149 96 449 183
Impairment of goodwill and definite-lived intangible assets 4,264 0 4,264 0
Gain on asset dispositions and other, net of impairment (39) (35) (99) (57)
Total operating expenses 5,755 1,131 7,828 2,425
Operating (loss) income (4,216) (6) (3,397) 193
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (157) (129) (502) (237)
Gain on extinguishment of debt 0 0 5 0
Loss from equity method investments (10) (12) (23) (38)
Other income, net 169 3 169 12
Total other income (expense), net 2 (138) (351) (263)
Loss before income taxes (4,214) (144) (3,748) (70)
INCOME TAX BENEFIT 847 95 805 88
NET (LOSS) INCOME (3,367) (49) (2,943) 18
Net income attributable to the redeemable noncontrolling interests (19) (11) (51) (11)
Net loss (income) attributable to the noncontrolling interests 130 0 113 (3)
NET (LOSS) INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ (3,256) $ (60) $ (2,881) $ 4
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:        
Basic earnings per share (USD per share) $ (43.53) $ (0.65) $ (35.17) $ 0.05
Diluted earnings per share (USD per share) $ (43.53) $ (0.65) $ (35.17) $ 0.05
Basic weighted average common shares outstanding (shares) 74,810 92,086 81,922 92,050
Diluted weighted average common and common equivalent shares outstanding (shares) 74,810 92,086 81,922 93,271
Media revenues        
REVENUES:        
Revenues $ 1,519 $ 1,070 $ 4,353 $ 2,465
Non-media revenues        
REVENUES:        
Revenues $ 20 $ 55 $ 78 $ 153