XML 13 R3.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
REVENUES:    
Station broadcast revenues, net of agency commissions$ 151,701$ 158,809$ 466,819$ 465,440
Revenues realized from station barter arrangements17,51217,81253,23250,573
Other operating divisions revenues11,6559,83132,07325,618
Total revenues180,868186,452552,124541,631
OPERATING EXPENSES:    
Station production expenses41,49338,619126,755113,182
Station selling, general and administrative expenses31,34132,23092,09593,426
Expenses recognized from station barter arrangements15,81515,71648,07344,695
Amortization of program contract costs and net realizable value adjustments12,83315,94538,11747,162
Other operating divisions expenses9,3697,90226,10222,259
Depreciation of property and equipment7,6029,02223,52327,744
Corporate general and administrative expenses5,7896,23621,52620,063
Amortization of definite-lived intangible assets4,3934,68714,20114,087
Total operating expenses128,635130,357390,392382,618
Operating income52,23356,095161,732159,013
OTHER INCOME (EXPENSE):    
Interest expense and amortization of debt discount and deferred financing costs(24,463)(31,349)(78,564)(88,700)
Loss from extinguishment of debt(117)(3,939)(4,519)(4,377)
Income (loss) from equity and cost method investments2,080(1,997)2,906(2,478)
Gain on insurance settlement  1,723 
Other income, net5835571,6581,767
Total other expense(21,917)(36,728)(76,796)(93,788)
Income from continuing operations before income taxes30,31619,36784,93665,225
INCOME TAX PROVISION(10,875)(5,154)(31,701)(22,932)
Income from continuing operations19,44114,21353,23542,293
DISCONTINUED OPERATIONS:    
Loss from discontinued operations, includes income tax provision of $110, $68, $300 and $202, respectively(110)(68)(300)(202)
NET INCOME19,33114,14552,93542,091
Net (income) loss attributable to the noncontrolling interests(93)131161978
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP19,23814,27653,09643,069
Dividends declared per share (in dollars per share)$ 0.12 $ 0.36 
BASIC AND DILUTED EARNINGS PER COMMON SHARE ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP:    
Basic earnings per share from continuing operations (in dollars per share)$ 0.24$ 0.18$ 0.66$ 0.54
Basic earnings per share (in dollars per share)$ 0.24$ 0.18$ 0.66$ 0.54
Diluted earnings per share from continuing operations (in dollars per share)$ 0.24$ 0.18$ 0.66$ 0.54
Diluted earnings per share (in dollars per share)$ 0.24$ 0.18$ 0.66$ 0.54
Weighted average common shares outstanding (in shares)80,94080,34480,81280,204
Weighted average common and common equivalent shares outstanding (in shares)81,19580,62781,06880,480
AMOUNTS ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP COMMON SHAREHOLDERS:    
Income from continuing operations, net of tax19,34814,34453,39643,271
Loss from discontinued operations, net of tax(110)(68)(300)(202)
Net income$ 19,238$ 14,276$ 53,096$ 43,069