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OTHER ASSETS | 6 Months Ended
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Jun. 30, 2024
Schedule of Equity Method Investments [Line Items] |
OTHER ASSETS | OTHER ASSETS: Other assets as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
| As of June 30, 2024 |  | As of December 31, 2023
Equity method investments | $ | 86 |  |  | $ | 128 |
Other investments | 328 |  |  | 387 |
Income tax receivable | 141 |  |  | 131 |
Post-retirement plan assets | 47 |  |  | 45 |
Other | 78 |  |  | 51 |
Total other assets | $ | 680 |  |  | $ | 742 |
Equity Method Investments We have a portfolio of investments, including our investment in Diamond Sports Intermediate Holdings LLC ("DSIH"), and also a number of entities that are primarily focused on the development of real estate and other media and non-media businesses. During the six months ended June 30, 2024, we sold one of our other media investments which had a book value of $37 million as of December 31, 2023 for proceeds of $130 million and recognized a gain of $93 million. No investments were individually significant for the periods presented. Diamond Sports Intermediate Holdings LLC. We account for our equity interest in DSIH under the equity method of accounting. For the three and six months ended June 30, 2024 and 2023, we recorded no equity method loss related to the investment because the carrying value of the investment is zero and we are not obligated to fund losses incurred by DSIH. Other Investments We measure our investments, excluding equity method investments, at fair value or, in situations where fair value is not readily determinable, we have the option to value investments at cost plus observable changes in value, less impairment. Additionally, certain investments are measured at net asset value ("NAV"). As of June 30, 2024 and December 31, 2023, we held $136 million and $162 million, respectively, in investments measured at fair value. As of June 30, 2024 and December 31, 2023, we held $154 million and $189 million, respectively, in investments measured at NAV. We recognized fair value adjustment losses of $45 million and $43 million for the three and six months ended June 30, 2024, respectively, and fair value adjustment losses of $47 million and $48 million for the three and six months ended June 30, 2023, respectively, associated with these investments, which are reflected in other expense, net in our consolidated statements of operations. As of June 30, 2024 and December 31, 2023, our unfunded commitments related to our investments valued using the NAV practical expedient totaled $66 million and $74 million, respectively. Investments accounted for utilizing the measurement alternative were $38 million and $36 million as of June 30, 2024 and December 31, 2023, respectively. We recorded a $2 million impairment related to one investment for the three and six months ended June 30, 2024 and a $6 million impairment related to one investment for the three and six months ended June 30, 2023, which are reflected in other expense, net in our consolidated statements of operations. Note Receivable We were party to an Accounts Receivable Securitization Facility ("A/R Facility"), held by Diamond Sports Finance SPV, LLC ("DSPV"), an indirect wholly-owned subsidiary of DSIH. On May 10, 2023, DSPV paid the Company approximately $199 million, representing the aggregate outstanding principal amount of the loans under the A/R Facility, accrued interest, and outstanding fees and expenses. The A/R Facility was terminated on March 14, 2024.
Sinclair Broadcast Group, LLC |
Schedule of Equity Method Investments [Line Items] |
OTHER ASSETS | OTHER ASSETS: Other assets as of June 30, 2024 and December 31, 2023 consisted of the following (in millions):
| As of June 30, 2024 |  | As of December 31, 2023
Equity method investments | $ | 2 |  |  | $ | 1 |
Other investments | 4 |  |  | — |
Income tax receivable | 141 |  |  | 131 |
Other | 60 |  |  | 52 |
Total other assets | $ | 207 |  |  | $ | 184 |
Equity Method Investments Prior to the Reorganization, SBG had a portfolio of investments, including a number of entities that are primarily focused on the development of real estate and other media and non-media businesses. SBG has an investment in Diamond Sports Intermediate Holdings LLC ("DSIH"). Diamond Sports Intermediate Holdings LLC. SBG's equity interest in DSIH is accounted for under the equity method of accounting. For the three and six months ended June 30, 2024 and 2023, SBG recorded no equity method loss related to the investment because the carrying value of the investment is zero and SBG is not obligated to fund losses incurred by DSIH. Other Investments SBG's investments, excluding equity method investments, were accounted for at fair value or, in situations where fair value is not readily determinable, SBG had the option to value investments at cost plus observable changes in value, less impairment. Additionally, certain investments were measured at net asset value ("NAV"). All of the investments measured at fair value and NAV were transferred to Ventures as part of the Reorganization. SBG recognized fair value adjustment losses of $72 million and $73 million for the three and six months ended June 30, 2023, respectively, associated with these investments, which is reflected in other expense, net in SBG's consolidated statements of operations. Investments accounted for utilizing the measurement alternative were $4 million as of June 30, 2024. There were no adjustments to the carrying amount of investments accounted for utilizing the measurement alternative for either of the three and six months ended June 30, 2024. SBG recorded a $6 million impairment related to one investment for the three and six months ended June 30, 2023, which is reflected in other expense, net in SBG's consolidated statements of operations.

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