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CONDENSED CONSOLIDATING FINANCIAL STATEMENTS
 3 Months Ended
Mar. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
CONDENSED CONSOLIDATING FINANCIAL STATEMENTS CONDENSED CONSOLIDATING FINANCIAL STATEMENTS:
 
STG is the primary obligor under the 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 March 31, 2022, were obligations or securities of SBG and not obligations or securities of STG. SBG is a guarantor under the STG Notes. As of March 31, 2022, our consolidated total debt, net of deferred financing costs and debt discounts, of $4,398 million included $4,381 million related to STG and its subsidiaries of which the Company guaranteed $4,344 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 CONSOLIDATING BALANCE SHEET
AS OF MARCH 31, 2022
(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$54 $415 $1 $51 $— $521 
Accounts receivable, net— — 561 59 — 620 
Other current assets6 79 296 23 (78)326 
Total current assets60 494 858 133 (78)1,467 
Property and equipment, net1 31 655 50 (22)715 
Investment in equity of consolidated subsidiaries2,104 3,231 — — (5,335)— 
Goodwill— — 2,081 7 — 2,088 
Indefinite-lived intangible assets— — 136 14 — 150 
Definite-lived intangible assets, net— — 1,061 48 (34)1,075 
Other long-term assets283 1,974 410 1,363 (2,863)1,167 
Total assets$2,448 $5,730 $5,201 $1,615 $(8,332)$6,662 
Accounts payable and accrued liabilities$35 $74 $290 $17 $(24)$392 
Current portion of long-term debt— 20 7 10 (1)36 
Other current liabilities2 4 134 80 (45)175 
Total current liabilities37 98 431 107 (70)603 
Long-term debt915 4,314 32 373 (1,272)4,362 
Other long-term liabilities731 60 1,512 328 (1,821)810 
Total liabilities1,683 4,472 1,975 808 (3,163)5,775 
Redeemable noncontrolling interests— — — 184 — 184 
Total Sinclair Broadcast Group equity765 1,258 3,226 688 (5,172)765 
Noncontrolling interests in consolidated subsidiaries— — — (65)3 (62)
Total liabilities, redeemable noncontrolling interests, and equity$2,448 $5,730 $5,201 $1,615 $(8,332)$6,662 
CONDENSED CONSOLIDATING 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 CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2022
(in millions) (unaudited)
  
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $29 $791 $531 $(63)$1,288 
Media programming and production expenses— — 362 412 (16)758 
Selling, general and administrative expenses3 48 199 63 (46)267 
Gain on deconsolidation of subsidiary(3,357)— — — — (3,357)
Depreciation, amortization and other operating expenses— 2 84 70 (2)154 
Total operating (gains) expenses(3,354)50 645 545 (64)(2,178)
Operating income (loss)3,354 (21)146 (14)1 3,466 
Equity in (loss) earnings of consolidated subsidiaries(38)100 — — (62)— 
Interest expense(4)(44)(1)(75)9 (115)
Other income (expense)4 1 3 (50)(6)(48)
Total other (expense) income(38)57 2 (125)(59)(163)
Income tax (provision) benefit(729)20 (47)69 — (687)
Net income (loss)2,587 56 101 (70)(58)2,616 
Net income attributable to the redeemable noncontrolling interests— — — (4)— (4)
Net income attributable to the noncontrolling interests— — — (25)— (25)
Net income (loss) attributable to Sinclair Broadcast Group$2,587 $56 $101 $(99)$(58)$2,587 
Comprehensive income (loss)$2,587 $56 $101 $(67)$(58)$2,619 
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2021
(in millions) (unaudited)
 
 Sinclair
Broadcast
Group, Inc.		Sinclair
Television
Group, Inc.		Guarantor
Subsidiaries
and KDSM,
LLC		Non-
Guarantor
Subsidiaries		EliminationsSinclair
Consolidated
Net revenue$— $27 $705 $818 $(39)$1,511 
Media programming and production expenses— 1 348 684 (10)1,023 
Selling, general and administrative expenses3 58 166 74 (27)274 
Depreciation, amortization and other operating expenses— 2 74 105 (2)179 
Total operating expenses3 61 588 863 (39)1,476 
Operating (loss) income(3)(34)117 (45)— 35 
Equity in (loss) earnings of consolidated subsidiaries(45)88 — — (43)— 
Interest expense(3)(42)(1)(111)6 (151)
Other income (expense)20 5 (12)123 (3)133 
Total other (expense) income(28)51 (13)12 (40)(18)
Income tax benefit (provision)19 7 (15)(2)— 9 
Net (loss) income(12)24 89 (35)(40)26 
Net income attributable to the redeemable noncontrolling interests— — — (4)— (4)
Net income attributable to the noncontrolling interests— — — (34)— (34)
Net (loss) income attributable to Sinclair Broadcast Group$(12)$24 $89 $(73)$(40)$(12)
Comprehensive (loss) income$(12)$24 $89 $(27)$(40)$34 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2022
(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$(5)$(45)$327 $(209)$2 $70 
NET CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES
Acquisition of property and equipment— (1)(18)(2)— (21)
Spectrum repack reimbursements— — 1 — — 1 
Proceeds from the sale of assets— — 4 — — 4 
Deconsolidation of subsidiary cash— — — (315)— (315)
Purchases of investments(2)(1)(1)(1)— (5)
Distributions from investments50 — 10 10 — 70 
Net cash flows from (used in) investing activities48 (2)(4)(308)— (266)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES      
Repayments of notes payable, commercial bank financing and finance leases— (5)(1)(1)— (7)
Repurchase of outstanding Class A Common Stock(68)— — — — (68)
Dividends paid on Class A and Class B Common Stock(18)— — — — (18)
Dividends paid on redeemable subsidiary preferred equity— — — (1)— (1)
Distributions to noncontrolling interests— — — (3)— (3)
Increase (decrease) in intercompany payables100 151 (323)74 (2)— 
Other, net(5)— — — — (5)
Net cash flows from (used in) financing activities9 146 (324)69 (2)(102)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH52 99 (1)(448)— (298)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period2 316 2 499 — 819 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$54 $415 $1 $51 $— $521 
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 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$(18)$30 $113 $(332)$1 $(206)
NET CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES
Acquisition of property and equipment— — (14)(7)1 (20)
Acquisition of businesses, net of cash acquired— — (2)— — — 
Spectrum repack reimbursements— — 14 — — 14 
Proceeds from the sale of assets— — 28 — — 28 
Purchases of investments(2)(10)(13)(24)— (49)
Other, net— — (1)4 — (2)
Net cash flows (used in) from investing activities(2)(10)12 (27)1 (26)
NET CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES     
Proceeds from notes payable and commercial bank financing— — — 6 — 6 
Repayments of notes payable, commercial bank financing and finance leases— (3)(2)(21)— (26)
Dividends paid on Class A and Class B Common Stock(15)— — — — (15)
Dividends paid on redeemable subsidiary preferred equity— — — (4)— (4)
Distributions to noncontrolling interests, net— — — (30)— (30)
Distributions to redeemable noncontrolling interests— — — (2)— (2)
Increase (decrease) in intercompany payables49 29 (118)42 (2)— 
Other, net(14)— — — — (14)
Net cash flows from (used in) financing activities20 26 (120)(9)(2)(85)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH— 46 5 (368)— (317)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period— 458 — 804 — 1,262 
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period$— $504 $5 $436 $— $945