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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
 3 Months Ended
Mar. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS CONDENSED CONSOLIDATING FINANCIAL STATEMENTS:
 
STG is the primary obligor under the STG Bank Credit Agreement, 5.875% Notes, 5.125% Notes, 5.500% Notes, and 4.125% Secured Notes (collectively, the Notes are referred to as the "STG Notes"). Our Class A Common Stock and Class B Common Stock as of March 31, 2021, were obligations or securities of the Company and not obligations or securities of STG. The Company is a guarantor under the STG Bank Credit Agreement, 5.875% Notes, 5.125% Notes, 5.500% Notes, and 4.125% Secured Notes. As of March 31, 2021, our consolidated total debt, net of deferred financing costs and debt discounts, of $12,540 million included $4,401 million related to STG and its subsidiaries of which the Company guaranteed $4,363 million.
 
The Company, KDSM, LLC, a wholly-owned subsidiary of the Company, and STG’s wholly-owned subsidiaries (guarantor subsidiaries) have fully and unconditionally guaranteed, subject to certain customary automatic release provisions, all of STG’s obligations. Those guarantees are joint and several. There are certain contractual restrictions on the ability of the Company, STG, or KDSM, LLC to obtain funds from their subsidiaries in the form of dividends or loans.
 
The following condensed consolidating financial statements present the consolidated balance sheets, consolidated statements of operations and comprehensive income, and consolidated statements of cash flows of the Company, STG, KDSM, LLC and the guarantor subsidiaries, the direct and indirect non-guarantor subsidiaries of the Company and the eliminations necessary to arrive at our information on a consolidated basis.
 
These statements are presented in accordance with the disclosure requirements under SEC Regulation S-X, Rule 3-10.
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF MARCH 31, 2021
(in millions) (unaudited)

Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Cash and cash equivalents$— $504 $4 $433 $— $941 
Accounts receivable, net— — 546 512 — 1,058 
Other current assets4 54 389 597 (73)971 
Total current assets4 558 939 1,542 (73)2,970 
Property and equipment, net1 31 691 106 (25)804 
Investment in equity of consolidated subsidiaries528 3,519 — — (4,047)— 
Restricted cash— — 1 3 — 4 
Goodwill— — 2,081 10 — 2,091 
Indefinite-lived intangible assets— — 136 14 — 150 
Definite-lived intangible assets, net— — 1,224 4,316 (40)5,500 
Other long-term assets180 1,720 271 1,701 (2,259)1,613 
Total assets$713 $5,828 $5,343 $7,692 $(6,444)$13,132 
Accounts payable and accrued liabilities$22 $138 $206 $176 $(73)$469 
Current portion of long-term debt— 13 5 41 (1)58 
Other current liabilities1 1 121 272 — 395 
Total current liabilities23 152 332 489 (74)922 
Long-term debt700 4,335 32 8,448 (1,033)12,482 
Investment in deficit of consolidated subsidiaries1,256 — — — (1,256)— 
Other long-term liabilities12 115 1,462 585 (1,448)726 
Total liabilities1,991 4,602 1,826 9,522 (3,811)14,130 
Redeemable noncontrolling interests— — — 188 — 188 
Total Sinclair Broadcast Group (deficit) equity(1,278)1,226 3,517 (2,107)(2,637)(1,279)
Noncontrolling interests in consolidated subsidiaries— — — 89 4 93 
Total liabilities, redeemable noncontrolling interests, and equity$713 $5,828 $5,343 $7,692 $(6,444)$13,132 
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2020
(in millions)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Cash and cash equivalents$— $458 $— $801 $— $1,259 
Accounts receivable, net— — 558 502 — 1,060 
Other current assets7 46 372 560 (87)898 
Total current assets7 504 930 1,863 (87)3,217 
Property and equipment, net1 33 706 109 (26)823 
Investment in equity of consolidated subsidiaries430 3,549 — — (3,979)— 
Restricted cash— — — 3 — 3 
Goodwill— — 2,082 10 — 2,092 
Indefinite-lived intangible assets— — 156 15 — 171 
Definite-lived intangible assets, net— — 1,256 4,409 (41)5,624 
Other long-term assets139 1,718 280 1,569 (2,254)1,452 
Total assets$577 $5,804 $5,410 $7,978 $(6,387)$13,382 
Accounts payable and accrued liabilities$19 $70 $247 $284 $(87)$533 
Current portion of long-term debt— 13 5 41 (1)58 
Other current liabilities1 2 134 306 — 443 
Total current liabilities20 85 386 631 (88)1,034 
Long-term debt700 4,337 33 8,460 (1,037)12,493 
Investment in deficit of consolidated subsidiaries1,118 — — — (1,118)— 
Other long-term liabilities12 121 1,445 710 (1,438)850 
Total liabilities1,850 4,543 1,864 9,801 (3,681)14,377 
Redeemable noncontrolling interests— — — 190 — 190 
Total Sinclair Broadcast Group (deficit) equity(1,273)1,261 3,546 (2,098)(2,710)(1,274)
Noncontrolling interests in consolidated subsidiaries— — — 85 4 89 
Total liabilities, redeemable noncontrolling interests, and equity$577 $5,804 $5,410 $7,978 $(6,387)$13,382 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2021
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $27 $705 $818 $(39)$1,511 
Media programming and production expenses— 1 348 684 (10)1,023 
Selling, general and administrative expenses3 58 166 74 (27)274 
Depreciation, amortization and other operating expenses— 2 74 105 (2)179 
Total operating expenses3 61 588 863 (39)1,476 
Operating (loss) income(3)(34)117 (45)— 35 
Equity in (loss) earnings of consolidated subsidiaries(45)88 — — (43)— 
Interest expense(3)(42)(1)(111)6 (151)
Other income (expense)20 5 (12)123 (3)133 
Total other (expense) income(28)51 (13)12 (40)(18)
Income tax benefit (provision)19 7 (15)(2)— 9 
Net (loss) income(12)24 89 (35)(40)26 
Net income attributable to the redeemable noncontrolling interests— — — (4)— (4)
Net income attributable to the noncontrolling interests— — — (34)— (34)
Net (loss) income attributable to Sinclair Broadcast Group$(12)$24 $89 $(73)$(40)$(12)
Comprehensive (loss) income$(12)$24 $89 $(27)$(40)$34 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2020
(in millions) (unaudited)
 
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $24 $739 $893 $(47)$1,609 
Media programming and production expenses— — 328 516 (16)828 
Selling, general and administrative expenses3 44 168 67 (23)259 
Depreciation, amortization and other operating expenses— 1 51 147 (4)195 
Total operating expenses3 45 547 730 (43)1,282 
Operating (loss) income(3)(21)192 163 (4)327 
Equity in earnings of consolidated subsidiaries129 173 — — (302)— 
Interest expense(3)(55)(1)(127)6 (180)
Other (expense) income(2)(2)(9)8 (3)(8)
Total other income (expense)124 116 (10)(119)(299)(188)
Income tax benefit (provision)2 29 (6)(13)— 12 
Net income123 124 176 31 (303)151 
Net income attributable to the redeemable noncontrolling interests— — — (20)— (20)
Net income attributable to the noncontrolling interests— — — (8)— (8)
Net income attributable to Sinclair Broadcast Group$123 $124 $176 $3 $(303)$123 
Comprehensive income$123 $124 $176 $31 $(303)$151 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2021
(in millions) (unaudited)
  
Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(18)$30 $113 $(332)$1 $(206)
NET CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES
Acquisition of property and equipment— — (14)(7)1 (20)
Acquisition of businesses, net of cash acquired— — (2)— — (2)
Spectrum repack reimbursements— — 14 — — 14 
Proceeds from the sale of assets— — 28 — — 28 
Purchases of investments(2)(10)(13)(24)— (49)
Other, net— — (1)4 — 3 
Net cash flows (used in) from investing activities(2)(10)12 (27)1 (26)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES      
Proceeds from notes payable and commercial bank financing— — — 6 — 6 
Repayments of notes payable, commercial bank financing and finance leases— (3)(2)(21)— (26)
Dividends paid on Class A and Class B Common Stock(15)— — — — (15)
Dividends paid on redeemable subsidiary preferred equity— — — (4)— (4)
Distributions to noncontrolling interests— — — (30)— (30)
Distributions to redeemable noncontrolling interests— — — (2)— (2)
Increase (decrease) in intercompany payables49 29 (118)42 (2)— 
Other, net(14)— — — — (14)
Net cash flows from (used in) financing activities20 26 (120)(9)(2)(85)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— 46 5 (368)— (317)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 458 — 804 — 1,262 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $504 $5 $436 $— $945 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2020
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(115)$(40)$154 $(37)$(1)$(39)
NET CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of property and equipment— (5)(41)(4)4 (46)
Spectrum repack reimbursements— — 24 — — 24 
Proceeds from the sale of assets— — 18 — — 18 
Purchases of investments(1)(2)(12)(10)— (25)
Other, net1 — — 5 — 6 
Net cash flows used in investing activities— (7)(11)(9)4 (23)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES     
Proceeds from notes payable and commercial bank financing— 648 — 225 — 873 
Repayments of notes payable, commercial bank financing and finance leases— (7)(1)(12)— (20)
Repurchase of outstanding Class A Common Stock(176)— — — — (176)
Dividends paid on Class A and Class B Common Stock(18)— — — — (18)
Redemption of redeemable subsidiary preferred equity— — — (198)— (198)
Distributions to noncontrolling interests, net— — — (3)— (3)
Distributions to redeemable noncontrolling interests— — — (378)— (378)
Increase (decrease) in intercompany payables310 (111)(142)(54)(3)— 
Other, net(1)— — (8)— (9)
Net cash flows from (used in) financing activities115 530 (143)(428)(3)71 
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— 483 — (474)— 9 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 357 3 973 — 1,333 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $840 $3 $499 $— $1,342