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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
 9 Months Ended
Sep. 30, 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 September 30, 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 September 30, 2021, our consolidated total debt, net of deferred financing costs and debt discounts, of $12,530 million included $4,389 million related to STG and its subsidiaries of which the Company guaranteed $4,354 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.
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF SEPTEMBER 30, 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$— $555 $10 $493 $— $1,058 
Accounts receivable, net— — 576 598 — 1,174 
Other current assets13 58 441 140 (92)560 
Total current assets13 613 1,027 1,231 (92)2,792 
Property and equipment, net1 31 672 105 (24)785 
Investment in equity of consolidated subsidiaries715 3,582 — — (4,297)— 
Restricted cash— — — 3 — 3 
Goodwill— — 2,081 7 — 2,088 
Indefinite-lived intangible assets— — 136 14 — 150 
Definite-lived intangible assets, net— — 1,140 4,097 (38)5,199 
Other long-term assets119 1,784 299 1,783 (2,157)1,828 
Total assets$848 $6,010 $5,355 $7,240 $(6,608)$12,845 
Accounts payable and accrued liabilities$28 $81 $285 $323 $(93)$624 
Current portion of long-term debt— 20 5 42 (1)66 
Other current liabilities1 6 159 284 — 450 
Total current liabilities29 107 449 649 (94)1,140 
Long-term debt700 4,321 30 8,498 (1,085)12,464 
Investment in deficit of consolidated subsidiaries1,707 — — — (1,707)— 
Other long-term liabilities25 109 1,296 474 (1,297)607 
Total liabilities2,461 4,537 1,775 9,621 (4,183)14,211 
Redeemable noncontrolling interests— — — 194 — 194 
Total Sinclair Broadcast Group (deficit) equity(1,613)1,473 3,580 (2,624)(2,429)(1,613)
Noncontrolling interests in consolidated subsidiaries— — — 49 4 53 
Total liabilities, redeemable noncontrolling interests, and equity$848 $6,010 $5,355 $7,240 $(6,608)$12,845 
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 SEPTEMBER 30, 2021
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $28 $758 $803 $(54)$1,535 
Media programming and production expenses— 1 366 671 (16)1,022 
Selling, general and administrative expenses3 33 176 87 (36)263 
Depreciation, amortization and other operating expenses— 2 81 95 (1)177 
Total operating expenses3 36 623 853 (53)1,462 
Operating (loss) income(3)(8)135 (50)(1)73 
Equity in earnings of consolidated subsidiaries21 113 — — (134)— 
Interest expense(3)(43)(1)(113)5 (155)
Other income (expense)2 (3)(2)14 (3)8 
Total other income (expense)20 67 (3)(99)(132)(147)
Income tax benefit (provision)2 9 (16)96 — 91 
Net income (loss)19 68 116 (53)(133)17 
Net income attributable to the redeemable noncontrolling interests— — — (4)— (4)
Net loss attributable to the noncontrolling interests— — — 6 — 6 
Net income (loss) attributable to Sinclair Broadcast Group$19 $68 $116 $(51)$(133)$19 
Comprehensive income (loss)$19 $68 $116 $(52)$(133)$18 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2020
(in millions) (unaudited)
 
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $25 $774 $786 $(46)$1,539 
Media programming and production expenses— — 322 772 (17)1,077 
Selling, general and administrative expenses2 27 160 77 (24)242 
Impairment of goodwill and definite-lived intangible assets— — — 4,264 — 4,264 
Depreciation, amortization and other operating expenses1 1 40 133 (3)172 
Total operating expenses3 28 522 5,246 (44)5,755 
Operating (loss) income(3)(3)252 (4,460)(2)(4,216)
Equity in (loss) earnings of consolidated subsidiaries(3,252)302 — — 2,950 — 
Interest expense(3)(45)(1)(114)6 (157)
Other income (expense)1 5 (11)168 (4)159 
Total other (expense) income(3,254)262 (12)54 2,952 2 
Income tax benefit1 55 64 727 — 847 
Net (loss) income(3,256)314 304 (3,679)2,950 (3,367)
Net income attributable to the redeemable noncontrolling interests— — — (19)— (19)
Net loss attributable to the noncontrolling interests— — — 130 — 130 
Net (loss) income attributable to Sinclair Broadcast Group$(3,256)$314 $304 $(3,568)$2,950 $(3,256)
Comprehensive (loss) income$(3,256)$314 $304 $(3,679)$2,950 $(3,367)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2021
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $83 $2,207 $2,507 $(139)$4,658 
Media programming and production expenses— 3 1,073 2,354 (40)3,390 
Selling, general and administrative expenses10 123 515 252 (93)807 
Depreciation, amortization and other operating expenses— 6 240 290 (5)531 
Total operating expenses10 132 1,828 2,896 (138)4,728 
Operating (loss) income(10)(49)379 (389)(1)(70)
Equity in (loss) earnings of consolidated subsidiaries(267)317 — — (50)— 
Interest expense(10)(135)(2)(337)18 (466)
Other (expense) income(61)11 (24)166 (10)82 
Total other (expense) income(338)193 (26)(171)(42)(384)
Income tax benefit (provision)23 38 (31)139 — 169 
Net (loss) income(325)182 322 (421)(43)(285)
Net income attributable to the redeemable noncontrolling interests— — — (13)— (13)
Net income attributable to the noncontrolling interests— — — (27)— (27)
Net (loss) income attributable to Sinclair Broadcast Group$(325)$182 $322 $(461)$(43)$(325)
Comprehensive (loss) income$(325)$182 $322 $(415)$(43)$(279)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2020
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $74 $2,140 $2,350 $(133)$4,431 
Media programming and production expenses— — 962 1,371 (45)2,288 
Selling, general and administrative expenses8 97 479 207 (72)719 
Impairment of goodwill and definite-lived intangible assets— — — 4,264 — 4,264 
Depreciation, amortization and other operating expenses1 6 143 416 (9)557 
Total operating expenses9 103 1,584 6,258 (126)7,828 
Operating (loss) income(9)(29)556 (3,908)(7)(3,397)
Equity in (loss) earnings of consolidated subsidiaries(2,866)542 — — 2,324 — 
Interest expense(10)(147)(3)(361)19 (502)
Other income (expense)— 11 (30)180 (10)151 
Total other (expense) income(2,876)406 (33)(181)2,333 (351)
Income tax benefit4 75 24 702 — 805 
Net (loss) income(2,881)452 547 (3,387)2,326 (2,943)
Net income attributable to the redeemable noncontrolling interests— — — (51)— (51)
Net loss attributable to the noncontrolling interests— — — 113 — 113 
Net (loss) income attributable to Sinclair Broadcast Group$(2,881)$452 $547 $(3,325)$2,326 $(2,881)
Comprehensive (loss) income$(2,881)$452 $547 $(3,396)$2,326 $(2,952)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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 FROM (USED IN) OPERATING ACTIVITIES$8 $(100)$317 $6 $4 $235 
NET CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of property and equipment— (1)(48)(15)2 (62)
Spectrum repack reimbursements— — 22 — — 22 
Proceeds from the sale of assets— — 34 9 — 43 
Purchases of investments(7)(12)(40)(185)— (244)
Other, net— — (2)12 — 10 
Net cash flows used in investing activities(7)(13)(34)(179)2 (231)
NET CASH FLOWS (USED IN) FROM FINANCING ACTIVITIES      
Proceeds from notes payable and commercial bank financing— 341 — 16 — 357 
Repayments of notes payable, commercial bank financing and finance leases— (356)(5)(39)— (400)
Dividends paid on Class A and Class B Common Stock(46)— — — — (46)
Dividends paid on redeemable subsidiary preferred equity— — — (4)— (4)
Distributions to noncontrolling interests— — — (63)— (63)
Distributions to redeemable noncontrolling interests— — — (5)— (5)
Increase (decrease) in intercompany payables57 226 (268)(9)(6)— 
Other, net(12)(1)— (31)— (44)
Net cash flows (used in) from financing activities(1)210 (273)(135)(6)(205)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— 97 10 (308)— (201)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 458 — 804 — 1,262 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $555 $10 $496 $— $1,061 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 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$(115)$(39)$481 $510 $2 $839 
NET CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of property and equipment— (7)(110)(19)6 (130)
Spectrum repack reimbursements— — 72 — — 72 
Proceeds from the sale of assets— — 36 — — 36 
Purchases of investments(2)(30)(33)(20)— (85)
Other, net1 — (9)17 — 9 
Net cash flows used in investing activities(1)(37)(44)(22)6 (98)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES     
Proceeds from notes payable and commercial bank financing— 648 — 299 — 947 
Repayments of notes payable, commercial bank financing and finance leases— (670)(3)(272)— (945)
Repurchase of outstanding Class A Common Stock(343)— — — — (343)
Dividends paid on Class A and Class B Common Stock(49)— — — — (49)
Dividends paid on redeemable subsidiary preferred equity— — — (32)— (32)
Redemption of redeemable subsidiary preferred equity— — — (547)— (547)
Distributions to noncontrolling interests, net— — — (19)— (19)
Distributions to redeemable noncontrolling interests— — — (378)— (378)
Increase (decrease) in intercompany payables507 3 (433)(69)(8)— 
Other, net1 — — (76)— (75)
Net cash flows from (used in) financing activities116 (19)(436)(1,094)(8)(1,441)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— (95)1 (606)— (700)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 357 3 973 — 1,333 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $262 $4 $367 $— $633