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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 964 $ 1,259
Accounts receivable, net of allowance for doubtful accounts of $5 and $5, respectively 1,148 1,060
Income taxes receivable 180 230
Prepaid sports rights 190 498
Prepaid expenses and other current assets 175 170
Total current assets 2,657 3,217
Property and equipment, net 789 823
Operating lease assets 179 197
Deferred tax assets 293 197
Restricted cash 4 3
Goodwill 2,088 2,092
Indefinite-lived intangible assets 150 171
Definite-lived intangible assets, net 5,347 5,624
Other assets 1,273 1,058
Total assets [1] 12,780 13,382
Current liabilities:    
Accounts payable and accrued liabilities 588 533
Current portion of notes payable, finance leases, and commercial bank financing 66 58
Current portion of operating lease liabilities 26 34
Current portion of program contracts payable 63 92
Other current liabilities 293 317
Total current liabilities 1,036 1,034
Notes payable, finance leases, and commercial bank financing, less current portion 12,473 12,493
Operating lease liabilities, less current portion 187 198
Program contracts payable, less current portion 29 30
Other long-term liabilities 417 622
Total liabilities [1] 14,142 14,377
Commitments and contingencies (See Note 6)
Redeemable noncontrolling interests 190 190
Shareholders' equity:    
Additional paid-in capital 740 721
Accumulated deficit (2,360) (1,986)
Accumulated other comprehensive loss (5) (10)
Total Sinclair Broadcast Group shareholders’ deficit (1,624) (1,274)
Noncontrolling interests 72 89
Total deficit (1,552) (1,185)
Total liabilities, redeemable noncontrolling interests, and deficit 12,780 13,382
Class A Common Stock    
Shareholders' equity:    
Common Stock 1 1
Class B Common Stock    
Shareholders' equity:    
Common Stock 0 0
Customer relationships, net    
Current assets:    
Definite-lived intangible assets, net 4,091 4,286
Other definite-lived intangible assets, net    
Current assets:    
Definite-lived intangible assets, net $ 1,256 $ 1,338
[1] Our consolidated total assets as of June 30, 2021 and December 31, 2020 include total assets of variable interest entities (VIEs) of $219 million and $233 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of June 30, 2021 and December 31, 2020 include total liabilities of VIEs of $56 million and $60 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 9. Variable Interest Entities.