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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Operating Loss Carryforwards [Line Items]  
Schedule of Provision (Benefit) For Income Taxes
The provision (benefit) for income taxes consisted of the following for the years ended December 31, 2024, 2023, and 2022 (in millions):
 202420232022
Current (benefit) provision for income taxes:   
Federal$(10)$5 $6 
State4 (5)3 
 (6)— 9 
Deferred provision (benefit) for income taxes:   
Federal86 (342)868 
State(4)(16)36 
 82 (358)904 
Provision (benefit) for income taxes$76 $(358)$913 
Schedule of Reconciliation of Federal Income Taxes At The Applicable Statutory Rate To The Recorded Provision From Continuing Operations
The following is a reconciliation of federal income taxes at the applicable statutory rate to the recorded provision:
 202420232022
Federal statutory rate21.0 %21.0 %21.0 %
Adjustments:   
State income taxes, net of federal tax benefit (a)5.1 %4.6 %2.0 %
Valuation allowance (b)(4.9)%30.6 %1.6 %
Pending tax refunds interest income (c)(3.4)%— %— %
Federal tax credits(1.5)%0.6 %(0.2)%
Other2.8 %(0.5)%0.9 %
Effective income tax rate19.1 %56.3 %25.3 %
(a)Included in state income taxes are deferred income tax effects related to certain acquisitions, intercompany mergers, tax elections, law changes and/or impact of changes in apportionment.
(b)Our 2024 income tax provision includes a $19 million decrease in valuation allowance primarily as a result of a change in recent years from cumulative loss to cumulative earnings in certain state jurisdictions, and a remeasurement of state net deferred tax assets due to state apportionment updates. Our 2023 income tax provision includes a $212 million decrease related to the release of valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j). Our 2022 income tax provision includes a net $56 million addition related to an increase in valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j) and primarily offset by a decrease in valuation allowance on certain state deferred tax assets resulting from the Deconsolidation.
(c)Our 2024 income tax provision includes a $14 million accrual of interest income attributable to prior years’ pending income tax refund claims, including an immaterial $7.5 million correcting adjustment related to the accrual of interest income attributable to prior years’ pending income tax refund claims.
Schedule of Total Deferred Tax Assets And Deferred Tax Liabilities Total deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2023 were as follows (in millions):
 20242023
Deferred Tax Assets:  
Net operating losses:  
Federal$86 $111 
State149 151 
IRC Section 163(j) interest expense carryforward139 93 
Tax Credits91 87 
Investment in Bally's securities62 83 
Capitalized research and development expenses52 38 
Other80 80 
 659 643 
Valuation allowance for deferred tax assets(101)(120)
Total deferred tax assets$558 $523 
Deferred Tax Liabilities:  
Goodwill and intangible assets$(360)$(367)
Property & equipment, net(93)(104)
Investment in DSIH(405)(250)
Other(35)(54)
Total deferred tax liabilities(893)(775)
Net deferred tax liabilities$(335)$(252)
Schedule of Activity Related To Accrued Unrecognized Tax Benefits
The following table summarizes the activity related to our accrued unrecognized tax benefits (in millions):
 202420232022
Balance at January 1,$14 $17 $15 
Additions related to prior year tax positions— — 2 
Additions related to current year tax positions1 1 1 
Reductions related to settlements with taxing authorities— (2)— 
Reductions related to expiration of the applicable statute of limitations— (2)(1)
Balance at December 31,$15 $14 $17 
Sinclair Broadcast Group, LLC  
Operating Loss Carryforwards [Line Items]  
Schedule of Provision (Benefit) For Income Taxes
The provision (benefit) for income taxes consisted of the following for the years ended December 31, 2024, 2023, and 2022
(in millions):
 202420232022
Current (benefit) provision for income taxes:   
Federal$(35)$5 $6 
State4 (5)3 
 (31)— 9 
Deferred provision (benefit) for income taxes:
Federal95 (331)868 
State(4)(28)36 
 91 (359)904 
Provision (benefit) for income taxes$60 $(359)$913 
Schedule of Reconciliation of Federal Income Taxes At The Applicable Statutory Rate To The Recorded Provision From Continuing Operations
The following is a reconciliation of federal income taxes at the applicable statutory rate to the recorded provision:
 202420232022
Federal statutory rate21.0 %21.0 %21.0 %
Adjustments:
State income taxes, net of federal tax benefit (a)6.0 %4.7 %2.0 %
Valuation allowance (b)(5.8)%33.5 %1.6 %
Pending tax refunds interest income (c)(4.6)%— %— %
Non-deductible items1.9 %(0.6)%— %
Federal tax credits(1.9)%0.6 %(0.2)%
Adjustment to prior year taxes1.7 %— %— %
Other2.0 %0.2 %0.9 %
Effective income tax rate20.3 %59.4 %25.3 %
(a)Included in state income taxes are deferred income tax effects related to certain acquisitions, intercompany mergers, tax elections, law changes and/or impact of changes in apportionment.
(b)SBG’s 2024 income tax provision includes a $17 million decrease in valuation allowance primarily result of a change in recent years from cumulative loss to cumulative earnings in certain state jurisdictions, and a remeasurement of state net deferred tax assets due to state apportionment updates. SBG’s 2023 income tax provision includes a $212 million decrease related to the release of valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j). SBG’s 2022 income tax provision includes a net $56 million addition related to an increase in valuation allowance associated with the federal interest expense carryforwards under the IRC Section 163(j) and primarily offset by a decrease in valuation allowance on certain state deferred tax assets resulting from the Deconsolidation.
(c)SBG’s 2024 income tax provision includes a $14 million accrual of interest income attributable to prior years’ pending income tax refund claims, including an immaterial $7.5 million correcting adjustment related to the accrual of interest income attributable to prior years’ pending income tax refund claims.
Schedule of Total Deferred Tax Assets And Deferred Tax Liabilities Total deferred tax assets and deferred tax liabilities as of December 31, 2024 and 2023 were as follows (in millions):
 20242023
Deferred Tax Assets:
Net operating losses:
Federal$75 $97 
State149 152 
IRC Section 163(j) interest expense carryforward139 93 
Tax Credits90 87 
Capitalized research and development expenses44 35 
Other81 83 
578 547 
Valuation allowance for deferred tax assets(96)(113)
Total deferred tax assets$482 $434 
Deferred Tax Liabilities:
Goodwill and intangible assets$(331)$(334)
Property & equipment, net(87)(98)
Investment in DSIH(405)(250)
Other(32)(35)
Total deferred tax liabilities(855)(717)
Net deferred tax liabilities$(373)$(283)
Schedule of Activity Related To Accrued Unrecognized Tax Benefits
The following table summarizes the activity related to SBG’s accrued unrecognized tax benefits (in millions):
 202420232022
Balance at January 1,$12 $17 $15 
Additions related to prior year tax positions— — 2 
Additions related to current year tax positions1 1 1 
Reductions related to positions transferred to Ventures— (2)— 
Reductions related to settlements with taxing authorities— (2)— 
Reductions related to expiration of the applicable statute of limitations— (2)(1)
Balance at December 31,$13 $12 $17