SEGMENT DATA (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Segment Financial Information

Segment financial information is included in the following tables for the years ended December 31, 2022, 2021, and 2020 (in millions):


As of December 31, 2022	Broadcast		Local sports		Other & Corporate		Eliminations		Consolidated
Goodwill	$	2,016	$	—	$	72	$	—	$	2,088
Assets	4,436		—		2,268		—		6,704


As of December 31, 2021	Broadcast		Local sports		Other & Corporate		Eliminations		Consolidated
Goodwill	$	2,016	$	—	$	72	$	—	$	2,088
Assets	4,793		5,769		2,009		(30)		12,541


For the year ended December 31, 2022	Broadcast			Local sports (d)		Other & Corporate			Eliminations			Consolidated
Revenue	$	3,071	(e)	$	482	$	473		$	(98)	(c)	$	3,928
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets	240			54		30			(3)			321
Amortization of sports programming rights (a)	—			326		—			—			326
Amortization of program contract costs	72			—		18			—			90
Corporate general and administrative expenses	117			1		42			—			160
Gain on deconsolidation of subsidiary	—			—		(3,357)		(f)	—			(3,357)
Gain on asset dispositions and other, net of impairment	(15)		(b)	—		(49)			—			(64)

Operating income (loss)	607		(b)	(4)		3,377			—			3,980
Interest expense including amortization of debt discount and deferred financing costs	3			72		235			(14)			296
Income from equity method investments	—			10		46			—			56
Capital expenditures	96			2		7			—			105


For the year ended December 31, 2021	Broadcast			Local sports			Other & Corporate		Eliminations			Consolidated
Revenue	$	2,757		$	3,056		$	481	$	(160)	(c)	$	6,134
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets	247			316			31		(3)			591
Amortization of sports programming rights (a)	—			2,350			—		—			2,350
Amortization of program contract costs	76			—			17		—			93
Corporate general and administrative expenses	147			10			13		—			170
Gain on asset dispositions and other, net of impairment	(24)		(b)	(43)		(b)	(4)		—			(71)

Operating income (loss)	374		(b)	(317)		(b)	39		(1)			95
Interest expense including amortization of debt discount and deferred financing costs	4			436			192		(14)			618
Income (loss) from equity method investments	—			49			(4)		—			45
Capital expenditures	52			16			12		—			80


For the year ended December 31, 2020	Broadcast			Local sports		Other & Corporate		Eliminations			Consolidated
Revenue	$	2,922		$	2,686	$	451	$	(116)	(c)	$	5,943
Depreciation of property and equipment and amortization of definite-lived intangible assets and other assets	239			410		27		(2)			674
Amortization of sports programming rights (a)	—			1,078		—		—			1,078
Amortization of program contract costs	83			—		3		—			86
Corporate general and administrative expenses	119			10		19		—			148
(Gain) loss on asset dispositions and other, net of impairment	(118)		(b)	—		3		—			(115)
Impairment of goodwill and definite-lived intangible assets	—			4,264		—		—			4,264
Operating income (loss)	789		(b)	(3,602)		47		(6)			(2,772)
Interest expense including amortization of debt discount and deferred financing costs	5			460		203		(12)			656
Income (loss) from equity method investments	—			6		(42)		—			(36)
Capital expenditures	101			24		32		—			157

(a)The amortization of sports programming rights is included within media programming and production expenses on our consolidated statements of operations.

(b)Includes gains of $4 million related to reimbursements for spectrum repack costs, $67 million related to the fair value of equipment that we received for the C-Band spectrum repack and reimbursements for spectrum repack costs, and $90 million related to reimbursements for spectrum repack costs for the years ended December 31, 2022, 2021, and 2020, respectively. See Note 2. Acquisitions and Dispositions of Assets.

(c)Includes $26 million, $111 million, and $100 million of revenue for the years ended December 31, 2022, 2021, and 2020, respectively, for services provided by broadcast to local sports and other and $58 million for the year ended December 31, 2022 for services provided by other to broadcast, which are eliminated in consolidation.

(d)Represents the activity prior to the Deconsolidation on March 1, 2022. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies.

(e)Includes $39 million for the year ended December 31, 2022 of revenue for services provided by broadcast under management services agreements after the Deconsolidation, which is not eliminated in consolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies.

(f)Represents the gain recognized on the Deconsolidation. See Deconsolidation of Diamond Sports Intermediate Holdings LLC within Note 1. Nature of Operations and Summary of Significant Accounting Policies.