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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES:        
Media revenues $ 761 $ 831 $ 1,527 $ 2,106
Non-media revenues 7 6 14 19
Revenue 768 837 1,541 2,125
OPERATING EXPENSES:        
Media programming and production expenses 413 403 811 1,161
Media selling, general and administrative expenses 190 195 381 415
Amortization of program contract costs 19 21 41 46
Non-media expenses 9 10 21 23
Depreciation of property and equipment 32 24 56 52
Corporate general and administrative expenses 62 38 120 85
Amortization of definite-lived intangible assets 41 43 82 136
Gain on deconsolidation of subsidiary 0 0 0 (3,357)
Loss (gain) on asset dispositions and other, net of impairment 5 (4) 11 (9)
Total operating expenses (gains) 771 730 1,523 (1,448)
Operating (loss) income (3) 107 18 3,573
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (76) (54) (150) (169)
Gain on extinguishment of debt 11 3 11 3
(Loss) income from equity method investments (1) 3 30 15
Other expense, net (38) (105) (27) (165)
Total other (expense) income (104) (153) (136) (316)
(Loss) income before income taxes (107) (46) (118) 3,257
INCOME TAX BENEFIT (PROVISION) 20 40 224 (647)
Net income (loss) (87) (6) 106 2,610
Net (income) loss attributable to the redeemable noncontrolling interests 0 (5) 4 (9)
Net income attributable to the noncontrolling interests (2) 0 (14) (25)
Net income (loss) attributable to Sinclair (89) (11) 96 2,576
Sinclair Broadcast Group, LLC        
REVENUES:        
Media revenues 740 831 1,506 2,106
Non-media revenues 3 6 10 19
Revenue 743 837 1,516 2,125
OPERATING EXPENSES:        
Media programming and production expenses 397 403 795 1,161
Media selling, general and administrative expenses 184 195 375 415
Amortization of program contract costs 19 21 41 46
Non-media expenses 7 10 19 23
Depreciation of property and equipment 31 24 55 52
Corporate general and administrative expenses 58 38 116 85
Amortization of definite-lived intangible assets 39 43 80 136
Gain on deconsolidation of subsidiary 0 0 0 (3,357)
Loss (gain) on asset dispositions and other, net of impairment 4 (4) 10 (9)
Total operating expenses (gains) 739 730 1,491 (1,448)
Operating (loss) income 4 107 25 3,573
OTHER INCOME (EXPENSE):        
Interest expense including amortization of debt discount and deferred financing costs (76) (54) (150) (169)
Gain on extinguishment of debt 11 3 11 3
(Loss) income from equity method investments 0 3 31 15
Other expense, net (64) (105) (53) (165)
Total other (expense) income (129) (153) (161) (316)
(Loss) income before income taxes (125) (46) (136) 3,257
INCOME TAX BENEFIT (PROVISION) 26 40 230 (647)
Net income (loss) (99) (6) 94 2,610
Net (income) loss attributable to the redeemable noncontrolling interests 0 (5) 4 (9)
Net income attributable to the noncontrolling interests (2) 0 (14) (25)
Net income (loss) attributable to Sinclair $ (101) $ (11) $ 84 $ 2,576