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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 816 $ 1,259
Accounts receivable, net of allowance for doubtful accounts of $7 and $5, respectively 1,245 1,060
Income taxes receivable 152 230
Prepaid sports rights 85 498
Prepaid expenses and other current assets 173 170
Total current assets 2,471 3,217
Property and equipment, net 833 823
Operating lease assets 207 197
Deferred tax assets 293 197
Restricted cash 3 3
Goodwill 2,088 2,092
Indefinite-lived intangible assets 150 171
Definite-lived intangible assets, net 5,088 5,624
Other assets 1,408 1,058
Total assets [1] 12,541 13,382
Current liabilities:    
Accounts payable and accrued liabilities 655 533
Current portion of notes payable, finance leases, and commercial bank financing 69 58
Current portion of operating lease liabilities 35 34
Current portion of program contracts payable 97 92
Other current liabilities 346 317
Total current liabilities 1,202 1,034
Long-term debt 12,271 12,493
Operating lease liabilities, less current portion 205 198
Program contracts payable, less current portion 21 30
Other long-term liabilities 351 622
Total liabilities [1] 14,050 14,377
Commitments and contingencies (See Note 13)
Redeemable noncontrolling interests 197 190
Shareholders' Equity:    
Additional paid-in capital 691 721
Accumulated deficit (2,460) (1,986)
Accumulated other comprehensive loss (2) (10)
Total Sinclair Broadcast Group shareholders’ deficit (1,770) (1,274)
Noncontrolling interests in consolidated subsidiaries 64 89
Total deficit (1,706) (1,185)
Total liabilities and equity 12,541 13,382
Consolidated VIEs    
CURRENT ASSETS:    
Cash and cash equivalents 43 64
Accounts receivable, net of allowance for doubtful accounts of $7 and $5, respectively 83 70
Prepaid sports rights 2 2
Prepaid expenses and other current assets 4 5
Total current assets 132 141
Property and equipment, net 17 16
Operating lease assets 5 6
Indefinite-lived intangible assets 14 14
Definite-lived intangible assets, net 47 54
Other assets 1 1
Total assets 217 233
Current liabilities:    
Total current liabilities 62 40
Long-term debt 0 10
Operating lease liabilities, less current portion 4 5
Program contracts payable, less current portion 2 4
Other long-term liabilities 4 17
Total liabilities 72 76
Consolidated VIEs | Recourse    
Current liabilities:    
Total liabilities 62 60
Class A Common Stock    
Shareholders' Equity:    
Common Stock 1 1
Class B Common Stock    
Shareholders' Equity:    
Common Stock 0 0
Customer relationships    
CURRENT ASSETS:    
Definite-lived intangible assets, net 3,904 4,286
Other definite-lived intangible assets, net    
CURRENT ASSETS:    
Definite-lived intangible assets, net $ 1,184 $ 1,338
[1] Our consolidated total assets as of December 31, 2021 and 2020 include total assets of variable interest entities (VIEs) of $217 million and $233 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of December 31, 2021 and 2020 include total liabilities of the VIEs of $62 million and $60 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 14. Variable Interest Entities.