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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
REVENUES:      
Media revenues $ 4,046 $ 2,919 $ 2,567
Non-media revenues 194 136 69
Total revenues 4,240 3,055 2,636
OPERATING EXPENSES:      
Media programming and production expenses 2,073 1,191 1,064
Media selling, general and administrative expenses 732 630 534
Amortization of program contract costs and net realizable value adjustments 90 101 116
Non-media expenses 156 122 75
Depreciation of property and equipment 97 105 97
Corporate general and administrative expenses 387 111 113
Amortization of definite-lived intangible and other assets 327 175 179
Gain on asset dispositions and other, net of impairment (92) (40) (279)
Total operating expenses 3,770 2,395 1,899
Operating income 470 660 737
OTHER INCOME (EXPENSE):      
Interest expense and amortization of debt discount and deferred financing costs (422) (292) (212)
Loss from extinguishment of debt (10) 0 (1)
Loss from equity method investments (35) (61) (14)
Other income, net 6 3 9
Total other expense, net (461) (350) (218)
Income before income taxes 9 310 519
INCOME TAX BENEFIT 96 36 75
NET INCOME 105 346 594
Net income attributable to the redeemable noncontrolling interests (48) 0 0
Net income attributable to the noncontrolling interests (10) (5) (18)
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP $ 47 $ 341 $ 576
EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:      
Basic earnings per share (in dollars per share) $ 0.52 $ 3.38 $ 5.77
Diluted earnings per share (in dollars per share) $ 0.51 $ 3.35 $ 5.72
Weighted average common shares outstanding (in shares) 92,015 100,913 99,844
Weighted average common and common equivalent shares outstanding (in shares) 93,185 101,718 100,789