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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets:    
Cash $ 21 $ 61
Accounts receivable, less allowance for credit losses of $17 and $16, respectively 342 650
Current portion of program broadcast rights, net 18 27
Income tax refunds receivable 21 22
Prepaid income taxes 18 43
Prepaid and other current assets 48 54
Total current assets 468 857
Property and equipment, net 1,601 1,466
Operating lease right of use asset 75 75
Broadcast licenses 5,320 5,331
Goodwill 2,643 2,663
Other intangible assets, net 415 636
Investments in broadcasting and technology companies 85 105
Deferred pension assets 17 5
Other 16 14
Total assets 10,640 11,152
Liabilities and stockholders’ equity:    
Accounts payable 23 55
Employee compensation and benefits 110 98
Accrued interest 63 60
Accrued network programming fees 37 39
Other accrued expenses 41 50
Federal and state income taxes 22 15
Current portion of program broadcast obligations 20 29
Deferred revenue 39 24
Dividends payable 14 14
Current portion of operating lease liabilities 11 10
Current portion of long-term debt 15 15
Total current liabilities 395 409
Long-term debt, less current portion and less deferred financing costs 6,145 6,440
Program broadcast obligations, less current portion 1 1
Deferred income taxes 1,359 1,454
Operating lease liabilities, less current portion 69 68
Other 50 14
Total liabilities 8,019 8,386
Commitments and contingencies (Note 12)
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 1,084 1,242
Accumulated other comprehensive loss (23) (12)
Stockholders' equity before treasury stock 2,285 2,425
Total stockholders’ equity 1,971 2,116
Total liabilities and stockholders’ equity 10,640 11,152
Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 1,174 1,150
Treasury stock at cost (282) (278)
Class A Common Stock (No Par Value) [Member]    
Stockholders’ equity:    
Common stock 50 45
Treasury stock at cost $ (32) $ (31)