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FINANCIAL INFORMATION FOR GUARANTEE OF SECURITIES OF SUBSIDIARIES
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
FINANCIAL INFORMATION FOR GUARANTEE OF SECURITIES OF SUBSIDIARIES
19. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS:

Sinclair Television Group, Inc. (STG), a wholly-owned subsidiary and the television operating subsidiary of Sinclair Broadcast Group, Inc. (SBG), is the primary obligor under STG's Bank Credit Agreement, 5.875% unsecured notes, 5.125% unsecured notes, 5.500% unsecured notes, and 4.125% secured notes. Our Class A Common Stock and Class B Common Stock as of December 31, 2021, were obligations or securities of SBG and not obligations or securities of STG. SBG is a guarantor under STG's Bank Credit Agreement, 5.875% unsecured notes, 5.125% unsecured notes, 5.500% unsecured notes, and 4.125% secured notes. As of December 31, 2021, our consolidated total debt of $12,340 million included $4,385 million of debt related to STG and its subsidiaries of which SBG guaranteed $4,347 million.
 
SBG, KDSM, LLC, a wholly-owned subsidiary of SBG, 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 SBG, 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 SBG, STG, KDSM, LLC and the guarantor subsidiaries, the direct and indirect non-guarantor subsidiaries of SBG and the eliminations necessary to arrive at our information on a consolidated basis and are provided pursuant to the terms of certain of our debt agreements. Investments in the subsidiaries of SBG, STG, KDSM, LLC and the guarantor subsidiaries, the direct and indirect non-guarantor subsidiaries of SBG are presented in each column under the equity method of accounting. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. As such, these condensed consolidating financial statements should be read in conjunction with the accompanying notes to consolidated financial statements.
CONDENSED CONSOLIDATED BALANCE SHEET
AS OF DECEMBER 31, 2021
(In millions)
 
 Sinclair
Broadcast
Group,
Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Cash and cash equivalents$2 $316 $2 $496 $— $816 
Accounts receivable, net— — 649 596 — 1,245 
Other current assets10 82 293 136 (111)410 
Total current assets12 398 944 1,228 (111)2,471 
Property and equipment, net1 31 664 161 (24)833 
Investment in equity of consolidated subsidiaries451 3,448 — — (3,899)— 
Restricted cash— — — 3 — 3 
Goodwill— — 2,081 7 — 2,088 
Indefinite-lived intangible assets— — 136 14 — 150 
Definite-lived intangible assets, net— — 1,105 4,019 (36)5,088 
Other long-term assets331 1,956 427 1,853 (2,659)1,908 
Total assets$795 $5,833 $5,357 $7,285 $(6,729)$12,541 
Accounts payable and accrued liabilities$31 $85 $295 $279 $(35)$655 
Current portion of long-term debt— 20 5 45 (1)69 
Other current liabilities2 6 155 392 (77)478 
Total current liabilities33 111 455 716 (113)1,202 
Long-term debt915 4,317 33 8,488 (1,482)12,271 
Investment in deficit of consolidated subsidiaries1,605 — — — (1,605)— 
Other long-term liabilities12 69 1,426 468 (1,398)577 
Total liabilities2,565 4,497 1,914 9,672 (4,598)14,050 
Redeemable noncontrolling interests— — — 197 — 197 
Total Sinclair Broadcast Group (deficit) equity(1,770)1,336 3,443 (2,644)(2,135)(1,770)
Noncontrolling interests in consolidated subsidiaries— — — 60 4 64 
Total liabilities, redeemable noncontrolling interests, and equity$795 $5,833 $5,357 $7,285 $(6,729)$12,541 
CONDENSED CONSOLIDATED BALANCE SHEET
AS OF DECEMBER 31, 2020
(In millions)
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Cash and cash equivalents$— $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— — 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 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)$13,382 
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2021
(In millions)
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $111 $2,979 $3,251 $(207)$6,134 
Media programming and production expenses— 4 1,425 2,916 (54)4,291 
Selling, general and administrative12 160 715 336 (145)1,078 
Depreciation, amortization and other operating expenses1 8 327 341 (7)670 
Total operating expenses13 172 2,467 3,593 (206)6,039 
Operating (loss) income(13)(61)512 (342)(1)95 
Equity in (loss) earnings of consolidated subsidiaries(350)435 — — (85)— 
Interest expense(13)(180)(3)(450)28 (618)
Other (expense) income(63)16 (24)111 (16)24 
Total other (expense) income, net(426)271 (27)(339)(73)(594)
Income tax benefit (provision)25 35 (44)157 — 173 
Net (loss) income(414)245 441 (524)(74)(326)
Net income attributable to the redeemable noncontrolling interests— — — (18)— (18)
Net income attributable to the noncontrolling interests— — — (70)— (70)
Net (loss) income attributable to Sinclair Broadcast Group$(414)$245 $441 $(612)$(74)$(414)
Comprehensive (loss) income$(414)$246 $441 $(517)$(74)$(318)
 
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2020
(In millions)
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $100 $3,081 $2,946 $(184)$5,943 
Media programming and production expenses— 3 1,284 1,519 (71)2,735 
Selling, general and administrative18 122 658 279 (97)980 
Impairment of goodwill and definite-lived intangible assets— — — 4,264 — 4,264 
Depreciation, amortization and other operating expenses2 8 211 525 (10)736 
Total operating expenses20 133 2,153 6,587 (178)8,715 
Operating (loss) income(20)(33)928 (3,641)(6)(2,772)
Equity in (loss) earnings of consolidated subsidiaries(2,409)877 — — 1,532 — 
Interest expense(13)(191)(3)(474)25 (656)
Other income (expense)27 4 (41)303 (14)279 
Total other (expense) income, net(2,395)690 (44)(171)1,543 (377)
Income tax benefit1 51 3 665 — 720 
Net (loss) income(2,414)708 887 (3,147)1,537 (2,429)
Net income attributable to the redeemable noncontrolling interests— — — (56)— (56)
Net loss attributable to the noncontrolling interests— — — 71 — 71 
Net (loss) income attributable to Sinclair Broadcast Group$(2,414)$708 $887 $(3,132)$1,537 $(2,414)
Comprehensive (loss) income $(2,414)$707 $887 $(3,154)$1,537 $(2,437)
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2019

 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $35 $2,841 $1,487 $(123)$4,240 
Media programming and production expenses— — 1,238 894 (59)2,073 
Selling, general and administrative147 147 663 202 (40)1,119 
Depreciation, amortization and other operating expenses— (20)278 334 (14)578 
Total operating expenses147 127 2,179 1,430 (113)3,770 
Operating (loss) income(147)(92)662 57 (10)470 
Equity in earnings of consolidated subsidiaries165 577 — — (742)— 
Interest expense(5)(216)(4)(216)19 (422)
Other income (expense)2 (7)(53)24 (5)(39)
Total other income (expense), net162 354 (57)(192)(728)(461)
Income tax benefit (provision)32 66 (21)19 — 96 
Net income (loss)47 328 584 (116)(738)105 
Net income attributable to redeemable noncontrolling interests— — — (48)— (48)
Net income attributable to the noncontrolling interests— — — (10)— (10)
Net income (loss) attributable to Sinclair Broadcast Group$47 $328 $584 $(174)$(738)$47 
Comprehensive income (loss)$47 $327 $584 $(116)$(738)$104 
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2021
(In millions)
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(5)$(216)$583 $(46)$11 $327 
CASH FLOWS USED IN INVESTING ACTIVITIES:   
Acquisition of property and equipment— (2)(64)(18)4 (80)
Acquisition of businesses, net of cash acquired— — (4)— — (4)
Proceeds from the sale of assets— — 34 9 — 43 
Purchases of investments(9)(9)(46)(192)— (256)
Spectrum repack reimbursements— — 24 — — 24 
Other, net(183)— (1)28 183 27 
Net cash flows used in investing activities(192)(11)(57)(173)187 (246)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:   
Proceeds from notes payable and commercial bank financing— 341 — 46 (30)357 
Repayments of notes payable, commercial bank financing and finance leases— (362)(6)(51)(182)(601)
Dividends paid on Class A and Class B Common Stock(60)— — — — (60)
Repurchase of outstanding Class A Common Stock(61)— — — — (61)
Dividends paid on redeemable subsidiary preferred equity— — — (5)— (5)
Distributions to noncontrolling interests— — — (95)— (95)
Distributions to redeemable noncontrolling interests— — — (6)— (6)
Increase (decrease) in intercompany payables333 106 (518)65 14 — 
Other, net(13)— — (40)— (53)
Net cash flows from (used in) financing activities199 85 (524)(86)(198)(524)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH2 (142)2 (305)— (443)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 458 — 804 — 1,262 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$2 $316 $2 $499 $— $819 
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2020
(In million)
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(119)$(75)$864 $875 $3 $1,548 
CASH FLOWS USED IN INVESTING ACTIVITIES:
Acquisition of property and equipment— (8)(130)(26)7 (157)
Acquisition of businesses, net of cash acquired— — (16)— — (16)
Proceeds from the sale of assets— — 36 — — 36 
Purchases of investments(43)(8)(43)(45)— (139)
Spectrum repack reimbursements— — 90 — — 90 
Other, net1 — (2)28 — 27 
Net cash flows used in investing activities(42)(16)(65)(43)7 (159)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing— 1,398 — 421 — 1,819 
Repayments of notes payable, commercial bank financing and finance leases— (1,434)(4)(301)— (1,739)
Dividends paid on Class A and Class B Common Stock(63)— — — — (63)
Repurchases of outstanding Class A Common Stock(343)— — — — (343)
Dividends paid on redeemable subsidiary preferred equity— — — (36)— (36)
Redemption of redeemable subsidiary preferred equity— — — (547)— (547)
Debt issuance costs— (11)— (8)— (19)
Distributions to noncontrolling interests— — — (32)— (32)
Distributions to redeemable noncontrolling interests— — — (383)— (383)
Increase (decrease) in intercompany payables565 239 (798)4 (10)— 
Other, net2 — — (119)— (117)
Net cash flows from (used in) financing activities161 192 (802)(1,001)(10)(1,460)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— 101 (3)(169)— (71)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 357 3 973 — 1,333 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $458 $— $804 $— $1,262 
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2019
(In millions)
Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
NET CASH FLOWS (USED IN) FROM OPERATING ACTIVITIES$(5)$(210)$734 $396 $1 $916 
CASH FLOWS USED IN INVESTING ACTIVITIES:
Acquisition of property and equipment— (4)(152)(11)11 (156)
Acquisition of businesses, net of cash acquired— — — (8,999)— (8,999)
Spectrum repack reimbursements— — 62 — — 62 
Proceeds from the sale of assets— — — 8 — 8 
Purchases of investments(6)(39)(54)(353)— (452)
Other, net— 3 (1)5 — 7 
Net cash flows used in investing activities(6)(40)(145)(9,350)11 (9,530)
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Proceeds from notes payable and commercial bank financing— 1,793 — 8,163 — 9,956 
Repayments of notes payable, commercial bank financing and finance leases— (1,213)(4)(19)— (1,236)
Proceeds from the issuance of redeemable subsidiary preferred equity, net— — — 985 — 985 
Dividends paid on Class A and Class B Common Stock(73)— — — — (73)
Dividends paid on redeemable subsidiary preferred equity— — — (33)— (33)
Repurchase of outstanding Class A Common Stock(145)— — — — (145)
Redemption of redeemable subsidiary preferred equity— — — (297)— (297)
Debt issuance costs— (25)— (174)— (199)
Distributions to noncontrolling interests— — — (27)— (27)
Distributions to redeemable noncontrolling interests— — — (5)— (5)
Increase (decrease) in intercompany payables227 (905)(601)1,291 (12)— 
Other, net2 (5)— (36)— (39)
Net cash flows from (used in) financing activities11 (355)(605)9,848 (12)8,887 
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— (605)(16)894 — 273 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 962 19 79 — 1,060 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $357 $3 $973 $— $1,333