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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
 6 Months Ended
Jun. 30, 2021
Condensed Financial Information Disclosure [Abstract]  
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS CONDENSED CONSOLIDATING FINANCIAL STATEMENTS:
 
STG is the primary obligor under the STG Bank Credit Agreement, 5.875% Notes, 5.125% Notes, 5.500% Notes, and 4.125% Secured Notes (collectively, the Notes are referred to as the "STG Notes"). Our Class A Common Stock and Class B Common Stock as of June 30, 2021, were obligations or securities of the Company and not obligations or securities of STG. The Company is a guarantor under the STG Bank Credit Agreement, 5.875% Notes, 5.125% Notes, 5.500% Notes, and 4.125% Secured Notes. As of June 30, 2021, our consolidated total debt, net of deferred financing costs and debt discounts, of $12,539 million included $4,395 million related to STG and its subsidiaries of which the Company guaranteed $4,358 million.
 
The Company, KDSM, LLC, a wholly-owned subsidiary of the Company, and STG’s wholly-owned subsidiaries (guarantor subsidiaries) have fully and unconditionally guaranteed, subject to certain customary automatic release provisions, all of STG’s obligations. Those guarantees are joint and several. There are certain contractual restrictions on the ability of the Company, STG, or KDSM, LLC to obtain funds from their subsidiaries in the form of dividends or loans.
 
The following condensed consolidating financial statements present the consolidated balance sheets, consolidated statements of operations and comprehensive income, and consolidated statements of cash flows of the Company, STG, KDSM, LLC and the guarantor subsidiaries, the direct and indirect non-guarantor subsidiaries of the Company and the eliminations necessary to arrive at our information on a consolidated basis.
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JUNE 30, 2021
(in millions) (unaudited)

Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Cash and cash equivalents$— $537 $2 $425 $— $964 
Accounts receivable, net— — 540 608 — 1,148 
Other current assets8 57 323 242 (85)545 
Total current assets8 594 865 1,275 (85)2,657 
Property and equipment, net1 32 674 106 (24)789 
Investment in equity of consolidated subsidiaries454 3,424 — — (3,878)— 
Restricted cash— — 1 3 — 4 
Goodwill— — 2,081 7 — 2,088 
Indefinite-lived intangible assets— — 136 14 — 150 
Definite-lived intangible assets, net— — 1,183 4,203 (39)5,347 
Other long-term assets101 1,731 275 1,797 (2,159)1,745 
Total assets$564 $5,781 $5,215 $7,405 $(6,185)$12,780 
Accounts payable and accrued liabilities$24 $70 $278 $302 $(86)$588 
Current portion of long-term debt— 20 5 42 (1)66 
Other current liabilities1 1 105 275 — 382 
Total current liabilities25 91 388 619 (87)1,036 
Long-term debt700 4,324 31 8,443 (1,025)12,473 
Investment in deficit of consolidated subsidiaries1,452 — — — (1,452)— 
Other long-term liabilities11 112 1,375 491 (1,356)633 
Total liabilities2,188 4,527 1,794 9,553 (3,920)14,142 
Redeemable noncontrolling interests— — — 190 — 190 
Total Sinclair Broadcast Group (deficit) equity(1,624)1,254 3,421 (2,406)(2,269)(1,624)
Noncontrolling interests in consolidated subsidiaries— — — 68 4 72 
Total liabilities, redeemable noncontrolling interests, and equity$564 $5,781 $5,215 $7,405 $(6,185)$12,780 
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2020
(in millions)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Cash and cash equivalents$— $458 $— $801 $— $1,259 
Accounts receivable, net— — 558 502 — 1,060 
Other current assets7 46 372 560 (87)898 
Total current assets7 504 930 1,863 (87)3,217 
Property and equipment, net1 33 706 109 (26)823 
Investment in equity of consolidated subsidiaries430 3,549 — — (3,979)— 
Restricted cash— — — 3 — 3 
Goodwill— — 2,082 10 — 2,092 
Indefinite-lived intangible assets— — 156 15 — 171 
Definite-lived intangible assets, net— — 1,256 4,409 (41)5,624 
Other long-term assets139 1,718 280 1,569 (2,254)1,452 
Total assets$577 $5,804 $5,410 $7,978 $(6,387)$13,382 
Accounts payable and accrued liabilities$19 $70 $247 $284 $(87)$533 
Current portion of long-term debt— 13 5 41 (1)58 
Other current liabilities1 2 134 306 — 443 
Total current liabilities20 85 386 631 (88)1,034 
Long-term debt700 4,337 33 8,460 (1,037)12,493 
Investment in deficit of consolidated subsidiaries1,118 — — — (1,118)— 
Other long-term liabilities12 121 1,445 710 (1,438)850 
Total liabilities1,850 4,543 1,864 9,801 (3,681)14,377 
Redeemable noncontrolling interests— — — 190 — 190 
Total Sinclair Broadcast Group (deficit) equity(1,273)1,261 3,546 (2,098)(2,710)(1,274)
Noncontrolling interests in consolidated subsidiaries— — — 85 4 89 
Total liabilities, redeemable noncontrolling interests, and equity$577 $5,804 $5,410 $7,978 $(6,387)$13,382 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED JUNE 30, 2021
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $28 $744 $886 $(46)$1,612 
Media programming and production expenses— 1 359 999 (14)1,345 
Selling, general and administrative expenses4 32 173 91 (30)270 
Depreciation, amortization and other operating expenses— 2 85 90 (2)175 
Total operating expenses4 35 617 1,180 (46)1,790 
Operating (loss) income(4)(7)127 (294)— (178)
Equity in (loss) earnings of consolidated subsidiaries(243)116 — — 127 — 
Interest expense(4)(50)— (113)7 (160)
Other (expense) income(83)9 (10)29 (4)(59)
Total other (expense) income(330)75 (10)(84)130 (219)
Income tax benefit2 22 — 45 — 69 
Net (loss) income(332)90 117 (333)130 (328)
Net income attributable to the redeemable noncontrolling interests— — — (5)— (5)
Net loss attributable to the noncontrolling interests— — — 1 — 1 
Net (loss) income attributable to Sinclair Broadcast Group$(332)$90 $117 $(337)$130 $(332)
Comprehensive (loss) income$(332)$90 $117 $(336)$130 $(331)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED JUNE 30, 2020
(in millions) (unaudited)
 
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $25 $627 $671 $(40)$1,283 
Media programming and production expenses— — 312 83 (12)383 
Selling, general and administrative expenses3 26 151 63 (25)218 
Depreciation, amortization and other operating expenses— 4 52 136 (2)190 
Total operating expenses3 30 515 282 (39)791 
Operating (loss) income(3)(5)112 389 (1)492 
Equity in earnings of consolidated subsidiaries257 67 — — (324)— 
Interest expense(4)(47)(1)(120)7 (165)
Other income (expense)1 8 (10)4 (3)— 
Total other income (expense)254 28 (11)(116)(320)(165)
Income tax benefit (provision)1 (9)(34)(12)— (54)
Net income252 14 67 261 (321)273 
Net income attributable to the redeemable noncontrolling interests— — — (12)— (12)
Net income attributable to the noncontrolling interests— — — (9)— (9)
Net income attributable to Sinclair Broadcast Group$252 $14 $67 $240 $(321)$252 
Comprehensive income$252 $14 $67 $252 $(321)$264 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED JUNE 30, 2021
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $55 $1,449 $1,704 $(85)$3,123 
Media programming and production expenses— 2 707 1,683 (24)2,368 
Selling, general and administrative expenses7 90 339 165 (57)544 
Depreciation, amortization and other operating expenses— 4 159 195 (4)354 
Total operating expenses7 96 1,205 2,043 (85)3,266 
Operating (loss) income(7)(41)244 (339)— (143)
Equity in (loss) earnings of consolidated subsidiaries(288)204 — — 84 — 
Interest expense(7)(92)(1)(224)13 (311)
Other (expense) income(63)14 (22)152 (7)74 
Total other (expense) income(358)126 (23)(72)90 (237)
Income tax benefit (provision)21 29 (15)43 — 78 
Net (loss) income(344)114 206 (368)90 (302)
Net income attributable to the redeemable noncontrolling interests— — — (9)— (9)
Net income attributable to the noncontrolling interests— — — (33)— (33)
Net (loss) income attributable to Sinclair Broadcast Group$(344)$114 $206 $(410)$90 $(344)
Comprehensive (loss) income$(344)$114 $206 $(363)$90 $(297)
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED JUNE 30, 2020
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $49 $1,366 $1,564 $(87)$2,892 
Media programming and production expenses— — 640 599 (28)1,211 
Selling, general and administrative expenses6 70 319 130 (48)477 
Depreciation, amortization and other operating expenses— 5 103 283 (6)385 
Total operating expenses6 75 1,062 1,012 (82)2,073 
Operating (loss) income(6)(26)304 552 (5)819 
Equity in earnings of consolidated subsidiaries386 240 — — (626)— 
Interest expense(7)(102)(2)(247)13 (345)
Other (expense) income(1)6 (19)12 (6)(8)
Total other income (expense)378 144 (21)(235)(619)(353)
Income tax benefit (provision)3 20 (40)(25)— (42)
Net income375 138 243 292 (624)424 
Net income attributable to the redeemable noncontrolling interests— — — (32)— (32)
Net income attributable to the noncontrolling interests— — — (17)— (17)
Net income attributable to Sinclair Broadcast Group$375 $138 $243 $243 $(624)$375 
Comprehensive income$375 $138 $243 $283 $(624)$415 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2021
(in millions) (unaudited)
  
Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(11)$(72)$337 $(268)$2 $(12)
NET CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of property and equipment— — (27)(13)2 (38)
Acquisition of businesses, net of cash acquired— — (2)— — — 
Spectrum repack reimbursements— — 18 — — 18 
Proceeds from the sale of assets— — 30 9 — 39 
Purchases of investments(6)(10)(25)(123)— (164)
Other, net— — (1)7 — 4 
Net cash flows used in investing activities(6)(10)(7)(120)2 (141)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES      
Proceeds from notes payable and commercial bank financing— 341 — 16 — 357 
Repayments of notes payable, commercial bank financing and finance leases— (352)(3)(30)— (385)
Dividends paid on Class A and Class B Common Stock(30)— — — — (30)
Dividends paid on redeemable subsidiary preferred equity— — — (4)— (4)
Distributions to noncontrolling interests— — — (50)— (50)
Distributions to redeemable noncontrolling interests— — — (5)— (5)
Increase (decrease) in intercompany payables62 173 (324)93 (4)— 
Other, net(15)(1)— (8)— (24)
Net cash flows from (used in) financing activities17 161 (327)12 (4)(141)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— 79 3 (376)— (294)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 458 — 804 — 1,262 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $537 $3 $428 $— $968 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2020
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(124)$(98)$313 $243 $— $334 
NET CASH FLOWS USED IN INVESTING ACTIVITIES
Acquisition of property and equipment— (6)(83)(13)5 (97)
Spectrum repack reimbursements— — 52 — — 52 
Proceeds from the sale of assets— — 18 — — 18 
Purchases of investments(1)(5)(22)(20)— (48)
Other, net1 — (8)11 — 4 
Net cash flows used in investing activities— (11)(43)(22)5 (71)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES     
Proceeds from notes payable and commercial bank financing— 648 — 225 — 873 
Repayments of notes payable, commercial bank financing and finance leases— (663)(2)(263)— (928)
Repurchase of outstanding Class A Common Stock(261)— — — — (261)
Dividends paid on Class A and Class B Common Stock(35)— — — — (35)
Dividends paid on redeemable subsidiary preferred equity— — — (24)— (24)
Redemption of redeemable subsidiary preferred equity— — — (198)— (198)
Distributions to noncontrolling interests, net— — — (7)— (7)
Distributions to redeemable noncontrolling interests— — — (378)— (378)
Increase (decrease) in intercompany payables420 (65)(268)(82)(5)— 
Other, net— — — (16)— (16)
Net cash flows from (used in) financing activities124 (80)(270)(743)(5)(974)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— (189)— (522)— (711)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 357 3 973 — 1,333 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $168 $3 $451 $— $622