XML 96 R2.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2019
Dec. 31, 2018
CURRENT ASSETS:    
Cash and cash equivalents $ 1,333.0 $ 1,060.0
Accounts receivable, net of allowance for doubtful accounts of $8 and $2, respectively 1,132.0 599.0
Current portion of program contract costs 58.0 64.0
Income taxes receivable 103.0 0.0
Prepaid expenses and other current assets 287.0 61.0
Total current assets 2,913.0 1,784.0
Program contract costs, less current portion 5.0 11.0
Property and equipment, net 765.0 683.0
Operating lease assets 223.0  
Goodwill 4,716.0 2,124.0
Indefinite-lived intangible assets 158.0 158.0
Finite-lived intangible assets, net 7,977.0 1,627.0
Other assets 613.0 185.0
Total assets [1] 17,370.0 6,572.0
Current liabilities:    
Accounts payable and accrued liabilities 782.0 330.0
Income taxes payable 0.0 23.0
Current portion of notes payable, finance leases, and commercial bank financing 71.0 43.0
Current portion of operating lease liabilities 38.0  
Current portion of program contracts payable 88.0 93.0
Other current liabilities 155.0 84.0
Total current liabilities 1,134.0 573.0
Notes payable, finance leases, and commercial bank financing, less current portion 12,367.0 3,850.0
Operating lease liabilities, less current portion 217.0  
Program contracts payable, less current portion 39.0 50.0
Deferred tax liabilities 407.0 413.0
Other long-term liabilities 434.0 86.0
Total liabilities [1] 14,598.0 4,972.0
Commitments and contingencies (See Note 13)
Redeemable noncontrolling interests 1,078.0 0.0
Shareholders' Equity:    
Additional paid-in capital 1,011.0 1,121.0
Retained earnings 492.0 518.0
Accumulated other comprehensive loss (2.0) (1.0)
Total Sinclair Broadcast Group shareholders’ equity 1,502.0 1,639.0
Noncontrolling interests 192.0 (39.0)
Total equity 1,694.0 1,600.0
Total liabilities, redeemable noncontrolling interests, and equity 17,370.0 6,572.0
Total assets of variable interest entities 228.0 127.0
Total liabilities of variable interest entities 27.0 22.0
Class A Common Stock    
Shareholders' Equity:    
Common Stock 1.0 1.0
Class B Common Stock    
Shareholders' Equity:    
Common Stock 0.0 0.0
Customer relationships    
CURRENT ASSETS:    
Finite-lived intangible assets, net 5,979.0 772.0
Other Definite-Lived Intangible Assets    
CURRENT ASSETS:    
Finite-lived intangible assets, net $ 1,998.0 $ 855.0
[1]
Our consolidated total assets as of December 31, 2019 and 2018 include total assets of variable interest entities (VIEs) of $228 million and $127 million, respectively, which can only be used to settle the obligations of the VIEs.  Our consolidated total liabilities as of December 31, 2019 and 2018 include total liabilities of the VIEs of $27 million and $22 million, respectively, for which the creditors of the VIEs have no recourse to us.  See Note 14. Variable Interest Entities.