v3.25.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 631 $ 697
Accounts receivable, net of allowance for doubtful accounts of $5 and $6, respectively 676 637
Income taxes receivable 0 5
Prepaid expenses and other current assets 161 146
Assets held-for-sale 36 0
Total current assets 1,504 1,485
Property and equipment, net 674 705
Operating lease assets 120 123
Goodwill 2,094 2,082
Indefinite-lived intangible assets 149 150
Other assets 626 710
Total assets [1] 5,779 5,885
Current liabilities:    
Accounts payable and accrued liabilities 439 416
Income taxes payable 88 0
Current portion of notes payable, finance leases, and commercial bank financing 25 38
Current portion of operating lease liabilities 22 22
Current portion of program contracts payable 52 69
Other current liabilities 93 60
Liabilities held-for-sale 5 0
Total current liabilities 724 605
Notes payable, finance leases, and commercial bank financing, less current portion 4,166 4,091
Operating lease liabilities, less current portion 126 130
Program contracts payable, less current portion 10 13
Deferred tax liabilities 196 335
Other long-term liabilities 189 195
Total liabilities [1] 5,411 5,369
Commitments and contingencies (See Note 4)
Shareholders’ equity:    
Additional paid-in capital 597 570
(Accumulated deficit) retained earnings (163) 10
Accumulated other comprehensive income 1 2
Total Sinclair shareholders’ equity 436 583
Noncontrolling interests (68) (67)
Total equity 368 516
Total liabilities and equity 5,779 5,885
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 304 302
Other definite-lived intangible assets, net    
Current assets:    
Definite-lived intangible assets, net $ 308 $ 328
[1] Our consolidated total assets as of March 31, 2025 and December 31, 2024 include total assets of variable interest entities (“VIE”) of $66 million and $70 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2025 and December 31, 2024 include total liabilities of VIEs of $15 million and $16 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 7. Variable Interest Entities.