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SEGMENT DATA (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment data |
Schedule of Segment Financial Information | Segment financial information is included in the following tables for the periods presented (in millions):
As of June 30, 2024 |  | Local Media |  | Tennis |  | Other & Corporate |  | Eliminations |  | Consolidated
Assets |  | $ | 4,418 |  |  | $ | 307 |  |  | $ | 964 |  |  | $ | (3) |  |  | $ | 5,686 |
For the three months ended June 30, 2024 |  | Local Media |  | Tennis |  | Other & Corporate |  | Eliminations |  | Consolidated
Revenue |  | $ | 750 |  |  | $ | 67 |  |  | $ | 20 |  |  | $ | (8) |  | (a) | $ | 829 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets |  | 58 |  |  | 6 |  |  | — |  |  | (1) |  |  | 63 |
Amortization of program costs |  | 18 |  |  | — |  |  | — |  |  | — |  |  | 18 |
Corporate general and administrative expenses |  | 29 |  |  | — |  |  | 21 |  |  | — |  |  | 50 |
Operating income (loss) |  | 83 |  |  | 1 |  |  | (20) |  |  | — |  |  | 64 |
Interest expense including amortization of debt discount and deferred financing costs |  | 76 |  |  | — |  |  | — |  |  | — |  |  | 76 |
Income from equity method investments |  | — |  |  | — |  |  | 78 |  |  | — |  |  | 78 |
For the six months ended June 30, 2024 |  | Local Media |  | Tennis |  | Other & Corporate |  | Eliminations |  | Consolidated
Revenue |  | $ | 1,477 |  |  | $ | 130 |  |  | $ | 35 |  |  | $ | (15) |  | (a) | $ | 1,627 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets |  | 116 |  |  | 11 |  |  | 1 |  |  | (2) |  |  | 126 |
Amortization of program costs |  | 37 |  |  | — |  |  | — |  |  | — |  |  | 37 |
Corporate general and administrative expenses |  | 70 |  |  | 1 |  |  | 37 |  |  | — |  |  | 108 |
Loss on asset dispositions and other, net of impairment |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 2 |
Operating income (loss) |  | 124 |  |  | 21 |  |  | (39) |  |  | — |  |  | 106 |
Interest expense including amortization of debt discount and deferred financing costs |  | 152 |  |  | — |  |  | — |  |  | — |  |  | 152 |
(Loss) income from equity method investments |  | — |  |  | (1) |  |  | 93 |  |  | — |  |  | 92 |
For the three months ended June 30, 2023 |  | Local Media |  | Tennis |  | Other & Corporate |  | Eliminations |  | Consolidated
Revenue |  | $ | 699 |  |  | $ | 60 |  |  | $ | 14 |  |  | $ | (5) |  | (a) | $ | 768 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets |  | 67 |  |  | 5 |  |  | 1 |  |  | — |  |  | 73 |
Amortization of program costs |  | 19 |  |  | — |  |  | — |  |  | — |  |  | 19 |
Corporate general and administrative expenses |  | 46 |  |  | — |  |  | 16 |  |  | — |  |  | 62 |
(Gain) loss on asset dispositions and other, net of impairment |  | (2) |  |  | — |  |  | 7 |  |  | — |  |  | 5 |
Operating income (loss) |  | 22 |  |  | 3 |  |  | (28) |  |  | — |  |  | (3) |
Interest expense including amortization of debt discount and deferred financing costs |  | 76 |  |  | — |  |  | — |  |  | — |  |  | 76 |
Loss from equity method investments |  | — |  |  | — |  |  | (1) |  |  | — |  |  | (1) |
For the six months ended June 30, 2023 |  | Local Media |  | Tennis |  | Other & Corporate |  | Eliminations |  | Consolidated
Revenue |  | $ | 1,404 |  |  | 115 |  |  | 31 |  |  | (9) |  | (a) | $ | 1,541 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets |  | 126 |  |  | 10 |  |  | 3 |  |  | (1) |  |  | 138 |
Amortization of program costs |  | 41 |  |  | — |  |  | — |  |  | — |  |  | 41 |
Corporate general and administrative expenses |  | 78 |  |  | — |  |  | 42 |  |  | — |  |  | 120 |
(Gain) loss on asset dispositions and other, net of impairment |  | (3) |  |  | — |  |  | 14 |  |  | — |  |  | 11 |
Operating income (loss) |  | 63 |  |  | 21 |  |  | (66) |  |  | — |  |  | 18 |
Interest expense including amortization of debt discount and deferred financing costs |  | 150 |  |  | — |  |  | — |  |  | — |  |  | 150 |
Income from equity method investments |  | — |  |  | — |  |  | 30 |  |  | — |  |  | 30 |
(a)Includes $3 million and $5 million for the three and six months ended June 30, 2024, respectively, and $2 million and $3 million for the three and six months ended June 30, 2023, respectively, of revenue for services provided by other to local media, which is eliminated in consolidation.
Sinclair Broadcast Group, LLC |
Segment data |
Schedule of Segment Financial Information | Segment financial information is included in the following tables for the periods presented (in millions):
As of June 30, 2024 |  | Local Media |  |  |  | Corporate |  |  |  | Consolidated
Assets |  | $ | 4,439 |  |  |  |  | $ | 85 |  |  |  |  | $ | 4,524 |
For the three months ended June 30, 2024 | Local Media |  |  | Corporate |  |  |  | Consolidated
Revenue | $ | 750 |  |  |  | $ | — |  |  |  |  | $ | 750 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets | 58 |  |  |  | — |  |  |  |  | 58 |
Amortization of program costs | 18 |  |  |  | — |  |  |  |  | 18 |
Corporate general and administrative expenses | 29 |  |  |  | 6 |  |  |  |  | 35 |
Operating income (loss) | 83 |  |  |  | (6) |  |  |  |  | 77 |
Interest expense including amortization of debt discount and deferred financing costs | 76 |  |  |  | — |  |  |  |  | 76 |
For the six months ended June 30, 2024 | Local Media |  |  | Corporate |  |  |  | Consolidated
Revenue | $ | 1,477 |  |  |  | — |  |  |  |  | 1,477 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets | 116 |  |  |  | — |  |  |  |  | 116 |
Amortization of program costs | 37 |  |  |  | — |  |  |  |  | 37 |
Corporate general and administrative expenses | 70 |  |  |  | 6 |  |  |  |  | 76 |
Operating income (loss) | 124 |  |  |  | (6) |  |  |  |  | 118 |
Interest expense including amortization of debt discount and deferred financing costs | 152 |  |  |  | — |  |  |  |  | 152 |
For the three months ended June 30, 2023 | Local Media |  |  |  | Other & Corporate (a) |  | Eliminations |  | Consolidated
Revenue | $ | 699 |  |  |  |  | $ | 47 |  |  | $ | (3) |  |  | $ | 743 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets | 67 |  |  |  |  | 3 |  |  | — |  |  | 70 |
Amortization of program costs | 19 |  |  |  |  | — |  |  | — |  |  | 19 |
Corporate general and administrative expenses | 46 |  |  |  |  | 12 |  |  | — |  |  | 58 |
(Gain) loss on asset dispositions and other, net of impairment | (2) |  |  |  |  | 6 |  |  | — |  |  | 4 |
Operating income (loss) | 22 |  |  |  |  | (18) |  |  | — |  |  | 4 |
Interest expense including amortization of debt discount and deferred financing costs | 76 |  |  |  |  | — |  |  | — |  |  | 76 |
For the six months ended June 30, 2023 | Local Media |  |  |  | Other & Corporate (a) |  | Eliminations |  | Consolidated
Revenue | $ | 1,404 |  |  |  |  | 119 |  |  | (7) |  | (b) | $ | 1,516 |
Depreciation of property and equipment and amortization of definite-lived intangibles and other assets | 126 |  |  |  |  | 10 |  |  | (1) |  |  | 135 |
Amortization of program costs | 41 |  |  |  |  | — |  |  | — |  |  | 41 |
Corporate general and administrative expenses | 78 |  |  |  |  | 38 |  |  | — |  |  | 116 |
(Gain) loss on asset dispositions and other, net of impairment | (3) |  |  |  |  | 13 |  |  | — |  |  | 10 |
Operating income (loss) | 63 |  |  |  |  | (38) |  |  | — |  |  | 25 |
Interest expense including amortization of debt discount and deferred financing costs | 150 |  |  |  |  | — |  |  | — |  |  | 150 |
Income from equity method investments | — |  |  |  |  | 31 |  |  | — |  |  | 31 |
(a)Represents the activity in tennis, non-broadcast digital and internet solutions, technical services, and non-media investments (collectively, other) prior to the Reorganization on June 1, 2023 and the activity in corporate prior and subsequent to the Reorganization. See Company Reorganization within Note 1. Nature of Operations and Summary of Significant Accounting Policies. (b)Includes $1 million for the six months ended June 30, 2023 of revenue for services provided by local media to other, which is eliminated in consolidation.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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