v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities:    
Net (loss) income $ (65) $ 110
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 66 72
Amortization of Intangible Assets 57 63
Amortization of deferred loan costs 8 7
Amortization of stock based compensation 12 12
Amortization of program broadcast rights 12 13
Payments on program broadcast obligations (14) (15)
Deferred income taxes (35) (10)
Gain on disposal of property and equipment, net (2) (1)
Gain on sale of investment (6) (110)
(Gain) loss from early extinguishment of debt (1) 7
Impairment of other intangible assets (28) 0
Other 7 1
Changes in operating assets and liabilities:    
Accounts receivable, net 120 (1)
Income tax receivable or prepaid 0 (26)
Other current assets (6) (1)
Accounts payable 6 8
Employee compensation, benefits and pension cost (28) (25)
Accrued network fees and other expenses 20 7
Accrued interest (17) (14)
Income taxes payable 3 (11)
Deferred revenue (2) 0
Net cash provided by operating activities 163 86
Investing activities:    
Purchases of property and equipment (40) (63)
Proceeds from asset sales 14 7
Proceeds from sale of investment 22 110
Investment in broadcast, production and technology companies (8) (4)
Other (2) 0
Net cash (used in) provided by investing activities (14) 50
Financing activities:    
Proceeds from borrowings on long-term debt 130 2,025
Repayments of borrowings on long-term debt (168) (2,015)
Payment of common stock dividends (16) (16)
Payment of preferred stock dividends (26) (26)
Deferred and other loan costs 0 (47)
Payment of taxes related to net share settlement of equity awards (5) (3)
Net cash used in financing activities (85) (82)
Net increase in cash 64 54
Cash at beginning of period 135 21
Cash at end of period $ 199 $ 75