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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
REVENUES:        
Revenue $ 1,535 $ 1,539 $ 4,658 $ 4,431
OPERATING EXPENSES:        
Media programming and production expenses 1,022 1,077 3,390 2,288
Media selling, general and administrative expenses 228 212 675 608
Amortization of program contract costs 22 19 67 63
Non-media expenses 11 18 42 69
Depreciation of property and equipment 28 25 84 75
Corporate general and administrative expenses 35 30 132 111
Amortization of definite-lived intangible and other assets 120 149 364 449
Impairment of goodwill and definite-lived intangible assets 0 4,264 0 4,264
Gain on asset dispositions and other, net of impairment (4) (39) (26) (99)
Total operating expenses 1,462 5,755 4,728 7,828
Operating income (loss) 73 (4,216) (70) (3,397)
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (155) (157) (466) (502)
Gain on extinguishment of debt 0 0 0 5
Income (loss) from equity method investments 12 (10) 23 (23)
Other (expense) income, net (4) 169 59 169
Total other (expense) income, net (147) 2 (384) (351)
Loss before income taxes (74) (4,214) (454) (3,748)
INCOME TAX BENEFIT 91 847 169 805
NET INCOME (LOSS) 17 (3,367) (285) (2,943)
Net income attributable to the redeemable noncontrolling interests (4) (19) (13) (51)
Net loss (income) attributable to the noncontrolling interests 6 130 (27) 113
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ 19 $ (3,256) $ (325) $ (2,881)
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:        
Basic earnings (loss) per share (in USD per share) $ 0.25 $ (43.53) $ (4.33) $ (35.17)
Diluted earnings (loss) per share (in USD per share) $ 0.25 $ (43.53) $ (4.33) $ (35.17)
Basic weighted average common shares outstanding (in shares) 75,472 74,810 75,068 81,922
Diluted weighted average common and common equivalent shares outstanding (in shares) 75,516 74,810 75,068 81,922
Media revenues        
REVENUES:        
Revenue $ 1,526 $ 1,519 $ 4,623 $ 4,353
Non-media revenues        
REVENUES:        
Revenue $ 9 $ 20 $ 35 $ 78