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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 884 $ 816
Accounts receivable, net of allowance for doubtful accounts of $5 and $7, respectively 612 1,245
Income taxes receivable 5 152
Prepaid sports rights 0 85
Prepaid expenses and other current assets 182 173
Total current assets 1,683 2,471
Property and equipment, net 728 833
Operating lease assets 145 207
Deferred tax assets 0 293
Restricted cash 0 3
Goodwill 2,088 2,088
Indefinite-lived intangible assets 150 150
Definite-lived intangible assets, net 946 5,088
Other assets 964 1,408
Total assets [1] 6,704 12,541
Current liabilities:    
Accounts payable and accrued liabilities 397 655
Current portion of notes payable, finance leases, and commercial bank financing 38 69
Current portion of operating lease liabilities 23 35
Current portion of program contracts payable 83 97
Other current liabilities 67 346
Total current liabilities 608 1,202
Long-term debt 4,227 12,271
Operating lease liabilities, less current portion 154 205
Program contracts payable, less current portion 10 21
Deferred tax liabilities 610 0
Other long-term liabilities 220 351
Total liabilities [1] 5,829 14,050
Commitments and contingencies (See Note 13)
Redeemable noncontrolling interests 194 197
Shareholders' Equity:    
Additional paid-in capital 624 691
Retained Earnings (accumulated deficit) 122 (2,460)
Accumulated other comprehensive income (loss) 1 (2)
Total Sinclair Broadcast Group shareholders’ equity (deficit) 748 (1,770)
Noncontrolling interests (67) 64
Total equity (deficit) 681 (1,706)
Total liabilities, redeemable noncontrolling interests, and equity 6,704 12,541
Consolidated VIEs    
CURRENT ASSETS:    
Cash and cash equivalents 0 43
Accounts receivable, net of allowance for doubtful accounts of $5 and $7, respectively 47 83
Prepaid sports rights 0 2
Prepaid expenses and other current assets 3 4
Total current assets 50 132
Property and equipment, net 10 17
Operating lease assets 0 5
Indefinite-lived intangible assets 14 14
Definite-lived intangible assets, net 40 47
Other assets 0 1
Total assets 115 217
Current liabilities:    
Total current liabilities 15 62
Long-term debt 7 0
Operating lease liabilities, less current portion 0 4
Program contracts payable, less current portion 1 2
Other long-term liabilities 3 4
Total liabilities 26 72
Consolidated VIEs | Recourse    
Current liabilities:    
Total liabilities 18 62
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 444 3,904
Other definite-lived intangible assets, net    
CURRENT ASSETS:    
Definite-lived intangible assets, net $ 502 $ 1,184
[1] Our consolidated total assets as of December 31, 2022 and 2021 include total assets of VIEs of $115 million and $217 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of December 31, 2022 and 2021 include total liabilities of the VIEs of $18 million and $62 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 14. Variable Interest Entities.