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 $4 and $5, 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)
SBG member’s deficit:    
(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
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
Sinclair Broadcast Group, LLC    
Current assets:    
Cash and cash equivalents 277 291
Accounts receivable, net of allowance for doubtful accounts of $4 and $5, respectively 594 582
Income taxes receivable 0 29
Prepaid expenses and other current assets 102 104
Assets held-for-sale 36 0
Total current assets 1,009 1,006
Property and equipment, net 660 692
Operating lease assets 120 123
Goodwill 2,004 2,016
Indefinite-lived intangible assets 122 123
Other assets 219 212
Total assets [2] 4,617 4,689
Current liabilities:    
Accounts payable and accrued liabilities 389 374
Income taxes payable 45 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 84 56
Liabilities held-for-sale 5 0
Total current liabilities 622 559
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 274 373
Other long-term liabilities 148 149
Total liabilities [2] 5,346 5,315
Commitments and contingencies (See Note 4)
SBG member’s deficit:    
(Accumulated deficit) retained earnings (661) (560)
Accumulated other comprehensive income 1 2
Total Sinclair shareholders’ equity (660) (558)
Noncontrolling interests (69) (68)
Total equity (729) (626)
Total liabilities and equity 4,617 4,689
Sinclair Broadcast Group, LLC | Customer relationships, net    
Current assets:    
Definite-lived intangible assets, net 179 191
Sinclair Broadcast Group, LLC | Other definite-lived intangible assets, net    
Current assets:    
Definite-lived intangible assets, net $ 304 $ 326
[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.
[2] Sinclair Broadcast Group, LLC’s (“SBG”) 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. SBG’s 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 SBG. See Note 6. Variable Interest Entities.