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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES:        
Media revenues $ 819 $ 761 $ 1,611 $ 1,527
Non-media revenues 10 7 16 14
Total revenues 829 768 1,627 1,541
OPERATING EXPENSES:        
Media programming and production expenses 425 413 833 811
Media selling, general and administrative expenses 194 190 390 381
Amortization of program costs 18 19 37 41
Non-media expenses 13 9 25 21
Depreciation of property and equipment 25 32 50 56
Corporate general and administrative expenses 50 62 108 120
Amortization of definite-lived intangible assets 38 41 76 82
Loss on asset dispositions and other, net of impairment 2 5 2 11
Total operating expenses 765 771 1,521 1,523
Operating income (loss) 64 (3) 106 18
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (76) (76) (152) (150)
Gain on extinguishment of debt 0 11 1 11
Income (loss) from equity method investments 78 (1) 92 30
Other expense, net (42) (38) (2) (27)
Total other expense, net (40) (104) (61) (136)
Income (loss) before income taxes 24 (107) 45 (118)
INCOME TAX BENEFIT (5) 20 (1) 224
NET INCOME (LOSS) 19 (87) 44 106
Net loss attributable to the redeemable noncontrolling interests 0 0 0 4
Net income attributable to the noncontrolling interests (2) (2) (4) (14)
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR 17 (89) 40 96
Sinclair Broadcast Group, LLC        
REVENUES:        
Media revenues 750 740 1,477 1,506
Non-media revenues 0 3 0 10
Total revenues 750 743 1,477 1,516
OPERATING EXPENSES:        
Media programming and production expenses 382 397 765 795
Media selling, general and administrative expenses 178 184 361 375
Amortization of program costs 18 19 37 41
Non-media expenses 2 7 4 19
Depreciation of property and equipment 26 31 51 55
Corporate general and administrative expenses 35 58 76 116
Amortization of definite-lived intangible assets 32 39 65 80
Loss on asset dispositions and other, net of impairment 0 4 0 10
Total operating expenses 673 739 1,359 1,491
Operating income (loss) 77 4 118 25
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (76) (76) (152) (150)
Gain on extinguishment of debt 0 11 1 11
Income (loss) from equity method investments 0 0 0 31
Other expense, net 2 (64) 33 (53)
Total other expense, net (74) (129) (118) (161)
Income (loss) before income taxes 3 (125) 0 (136)
INCOME TAX BENEFIT 1 26 10 230
NET INCOME (LOSS) 4 (99) 10 94
Net loss attributable to the redeemable noncontrolling interests 0 0 0 4
Net income attributable to the noncontrolling interests (2) (2) (3) (14)
NET INCOME (LOSS) ATTRIBUTABLE TO SINCLAIR $ 2 $ (101) $ 7 $ 84