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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES:        
Revenues $ 1,612 $ 1,283 $ 3,123 $ 2,892
OPERATING EXPENSES:        
Media programming and production expenses 1,345 383 2,368 1,211
Media selling, general and administrative expenses 234 186 447 396
Amortization of program contract costs 22 21 45 44
Non-media expenses 14 21 31 51
Depreciation of property and equipment 28 26 56 50
Corporate general and administrative expenses 36 32 97 81
Amortization of definite-lived intangible and other assets 119 150 244 300
Gain on asset dispositions and other, net of impairment (8) (28) (22) (60)
Total operating expenses 1,790 791 3,266 2,073
Operating (loss) income (178) 492 (143) 819
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (160) (165) (311) (345)
Gain on extinguishment of debt 0 3 0 5
Income (loss) from equity method investments 2 (7) 11 (13)
Other (expense) income, net (61) 4 63 0
Total other expense, net (219) (165) (237) (353)
(Loss) income before income taxes (397) 327 (380) 466
INCOME TAX BENEFIT (PROVISION) 69 (54) 78 (42)
NET (LOSS) INCOME (328) 273 (302) 424
Net income attributable to the redeemable noncontrolling interests (5) (12) (9) (32)
Net loss (income) attributable to the noncontrolling interests 1 (9) (33) (17)
NET (LOSS) INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ (332) $ 252 $ (344) $ 375
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:        
Basic (loss) earnings per share (in USD per share) $ (4.41) $ 3.13 $ (4.59) $ 4.39
Diluted (loss) earnings per share (in USD per share) $ (4.41) $ 3.12 $ (4.59) $ 4.36
Basic weighted average common shares outstanding (in shares) 75,331 80,425 74,862 85,517
Diluted weighted average common and common equivalent shares outstanding (in shares) 75,331 80,737 74,862 85,981
Media revenues        
REVENUES:        
Revenues $ 1,600 $ 1,260 $ 3,097 $ 2,834
Non-media revenues        
REVENUES:        
Revenues $ 12 $ 23 $ 26 $ 58