v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 174 $ 94
Prepaid expenses and other current assets 248 218
Total current assets 1,159 1,098
Property and equipment, net 2,286 2,260
FCC licenses 8,610 8,610
Other intangible assets, net 1,393 1,455
Goodwill 12,390 12,390
Equity method investments 873 941
Other long-term assets 474 483
Total assets 27,185 27,237
Current liabilities:    
Accounts payable and accrued expenses 1,218 1,290
Accrued interest 179 171
Current portion of deferred revenue 965 976
Current maturities of debt 2 1,058
Total current liabilities 2,532 3,653
Long-term deferred revenue 93 92
Long-term debt, including $656 and $579 measured at fair value at June 30, 2026 and December 31, 2025, respectively (Note 11) 9,453 8,648
Deferred tax liabilities 2,274 2,238
Other long-term liabilities 925 1,043
Total liabilities 15,277 15,674
Commitments and contingencies (Note 14)
Stockholders’ Equity:    
Common stock, par value $0.001 per share; 900 shares authorized; 337 and 335 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 0 0
Accumulated other comprehensive loss, net of tax (58) (50)
Additional paid-in capital 51 0
Treasury stock, at cost; 17 thousand and 45 thousand shares of common stock at June 30, 2026 and December 31, 2025, respectively (1) (1)
Retained earnings 11,916 11,614
Total stockholders’ equity 11,908 11,563
Total liabilities and stockholders’ equity 27,185 27,237
Nonrelated Party    
Current assets:    
Receivables, net 712 761
Current liabilities:    
Other current liabilities 46 47
Related Party    
Current assets:    
Receivables, net 25 25
Current liabilities:    
Other current liabilities $ 122 $ 111