XML 40 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
REVENUES:    
Station broadcast revenues, net of agency commissions $ 252,925 $ 190,888
Revenues realized from station barter arrangements 18,230 17,538
Other operating divisions revenues 11,463 13,948
Total revenues 282,618 222,374
OPERATING EXPENSES:    
Station production expenses 80,433 59,797
Station selling, general and administrative expenses 51,938 35,712
Expenses recognized from station barter arrangements 16,014 16,124
Amortization of program contract costs and net realizable value adjustments 18,861 14,100
Other operating divisions expenses 9,869 12,290
Depreciation of property and equipment 14,595 9,271
Corporate general and administrative expenses 11,250 9,367
Amortization of definite-lived intangible assets 16,002 5,819
Total operating expenses 218,962 162,480
Operating income 63,656 59,894
OTHER INCOME (EXPENSE):    
Interest expense and amortization of debt discount and deferred financing costs (37,697) (27,387)
Loss from extinguishment of debt   (335)
(Loss) income from equity and cost method investments (1,052) 1,276
Other income, net 457 471
Total other expense, net (38,292) (25,975)
Income from continuing operations before income taxes 25,364 33,919
INCOME TAX PROVISION (8,849) (4,794)
Income from continuing operations 16,515 29,125
DISCONTINUED OPERATIONS:    
Income (loss) from discontinued operations, includes income tax provision of $292 and $77, respectively 355 (51)
NET INCOME 16,870 29,074
Net loss attributable to the noncontrolling interests 127 285
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP 16,997 29,359
Dividends declared per share (in dollars per share) $ 0.15 $ 0.12
BASIC AND DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:    
Earnings per share from continuing operations (in dollars per share) $ 0.20 $ 0.36
Earnings per share (in dollars per share) $ 0.21 $ 0.36
Weighted average common shares outstanding (in shares) 81,191 80,852
Weighted average common and common equivalent shares outstanding (in shares) 82,064 81,127
AMOUNTS ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP COMMON SHAREHOLDERS:    
Income from continuing operations, net of tax 16,642 29,410
Income (loss) from discontinued operations, net of tax 355 (51)
Net income $ 16,997 $ 29,359