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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Assets:    
Cash $ 247 $ 189
Accounts receivable, less allowance for credit losses of $15 and $16, respectively 644 624
Current portion of program broadcast rights, net 24 35
Income tax refunds receivable 21 21
Prepaid income taxes 22 40
Prepaid and other current assets 60 54
Total current assets 1,018 963
Property and equipment, net 1,181 1,165
Operating leases right of use asset 72 70
Broadcast licenses 5,309 5,303
Goodwill 2,649 2,649
Other intangible assets, net 773 825
Investment in broadcasting and technology companies 117 117
Other 15 16
Total assets 11,134 11,108
Liabilities and stockholders’ equity:    
Accounts payable 23 59
Employee compensation and benefits 82 97
Accrued interest 82 52
Accrued network programming fees 41 34
Other accrued expenses 39 44
Federal and state income taxes 14 10
Current portion of program broadcast obligations 25 37
Deferred revenue 20 14
Dividends payable 13 13
Current portion of operating lease liabilities 9 9
Current portion of long-term debt 15 15
Total current liabilities 363 384
Long-term debt, less current portion and deferred financing costs 6,740 6,740
Program broadcast obligations, less current portion 4 5
Deferred income taxes 1,471 1,471
Accrued pension costs 23 24
Operating lease liabilities, less current portion 64 63
Other 15 14
Total liabilities 8,680 8,701
Commitments and contingencies (Note 9)
Series A Perpetual Preferred Stock, no par value; cumulative; redeemable; designated 1,500,000 shares, issued and outstanding 650,000 shares at each date and $650 aggregate liquidation value at each date 650 650
Stockholders’ equity:    
Retained earnings 910 869
Accumulated other comprehensive loss, net of income tax benefit (27) (27)
Stockholders' equity before treasury stock 2,061 2,008
Total stockholders’ equity 1,804 1,757
Total liabilities and stockholders’ equity 11,134 11,108
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,137 1,127
Treasury stock at cost (227) (223)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 41 39
Treasury stock at cost $ (30) $ (28)