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Significant Accounting Policies (Policies) | 6 Months Ended
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Jun. 30, 2021
Accounting Policies [Abstract] |
Investment, Policy [Policy Text Block] | Investments in Broadcasting, Production and Technology Companies. We have investments in several television, production and technology companies. We account for all material investments in which we have significant influence over the investee under the equity method of accounting. Upon initial investment, we record equity method investments at cost. The amounts initially recognized are subsequently adjusted for our appropriate share of the net earnings or losses of the investee. We record any investee losses up to the carrying amount of the investment plus advances and loans made to the investee, and any financial guarantees made on behalf of the investee. We recognize our share in earnings and losses of the investee as miscellaneous (expense) income, net in our condensed consolidated statements of operations. Investments are also increased by contributions made to and decreased by the distributions from the investee. The Company evaluates equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may be impaired. Investments in non-public businesses that do not have readily determinable pricing, and for which the Company does not have control or does not exert significant influence, are carried at cost less impairments, if any, plus or minus changes in observable prices for those investments. Gains or losses resulting from changes in the carrying value of these investments are included as miscellaneous (expense) income, net in our condensed consolidated statements of operations. These investments are reported together as a non-current asset on our condensed consolidated balance sheets.
Use of Estimates, Policy [Policy Text Block] | Use of Estimates. The preparation of financial statements in conformity with U. S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The business and economic uncertainty resulting from the novel coronavirus and its related disease (collectively, “COVID-19”) has made such estimates and assumptions more difficult to calculate. Our actual results could differ materially from these estimated amounts. Our most significant estimates are our allowance for credit losses in receivables, valuation of goodwill and intangible assets, amortization of program rights and intangible assets, pension costs, income taxes, employee medical insurance claims, useful lives of property and equipment and contingencies.
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share. We compute basic earnings per share by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the relevant period. The weighted-average number of common shares outstanding does not include restricted shares. These shares, although classified as issued and outstanding, are considered contingently returnable until the restrictions lapse and, in accordance with U.S. GAAP, are not included in the basic earnings per share calculation until the shares vest. Diluted earnings per share is computed by including all potentially dilutive common shares, including restricted shares, in the diluted weighted-average shares outstanding calculation, unless their inclusion would be antidilutive. The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding for the three and six-month periods ended June 30, 2021 and 2020, respectively (in millions):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Weighted-average shares outstanding-basic |  |  | 95 |  |  |  | 97 |  |  |  | 94 |  |  |  | 98 |
Common stock equivalents for stock options and restricted shares |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | - |
Weighted-average shares outstanding-diluted |  |  | 95 |  |  |  | 97 |  |  |  | 95 |  |  |  | 98 |
Comprehensive Income, Policy [Policy Text Block] | Accumulated Other Comprehensive Loss. Our accumulated other comprehensive loss balances as of June 30, 2021 and December 31, 2020, consist of adjustments to our pension liability and the related income tax effect. Our comprehensive income for the six-month periods ended June 30, 2021 and 2020 consisted solely of our net income. As of June 30, 2021 and December 31, 2020 the balances were as follows (in millions):
|  | June 30, |  |  | December 31, |
|  | 2021 |  |  | 2020 |
Accumulated balances of items included in accumulated other comprehensive loss: |  |  |  |  |  |  |  |
Increase in pension liability |  | $ | (52 | ) |  | $ | (52 | )
Income tax benefit |  |  | (13 | ) |  |  | (13 | )
Accumulated other comprehensive loss |  | $ | (39 | ) |  | $ | (39 | )
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts Receivable and Allowance for Credit Losses. We record accounts receivable from sales and service transactions in our condensed consolidated balance sheets at amortized cost adjusted for any write-offs and net of allowance for credit losses. We are exposed to credit risk primarily through sales of broadcasting and digital advertising with a variety of direct and agency-based advertising customers, retransmission consent agreements with multichannel video program distributors and program production sales and services. Our allowance for credit losses is an estimate of expected losses over the remaining contractual life of our receivables based on an ongoing analysis of collectability, historical collection experience, current economic and industry conditions and reasonable and supportable forecasts. The allowance is calculated using a historical loss rate applied to the current aging analysis. We may also apply additional allowance when warranted by specific facts and circumstances. We generally write off accounts receivable balances when the customer files for bankruptcy or when all commonly used methods of collection have been exhausted. The following table provides a roll-forward of the allowance for credit losses. The allowance is deducted from the amortized cost basis of accounts receivable in our condensed consolidated balance sheets (in millions):
|  | Six Months Ended |
|  | June 30, 2021 |
Beginning balance |  | $ | 10 |
Provision for credit losses |  |  | 1 |
Amounts written off |  |  | (1 | )
Ending balance |  | $ | 10 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment. Property and equipment are carried at cost, or in the case of acquired businesses, at fair value. Depreciation is computed principally by the straight-line method. The following table lists the components of property and equipment by major category (dollars in millions):
|  |  |  |  |  |  |  |  |  | Estimated |
|  | June 30, |  |  | December 31, |  |  | Useful Lives |
|  | 2021 |  |  | 2020 |  |  | (in years) |
Property and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  | $ | 206 |  |  | $ | 123 |  |  |  |  |  |
Buildings and improvements |  |  | 308 |  |  |  | 305 |  |  | 7 | to | 40 |
Equipment |  |  | 857 |  |  |  | 834 |  |  | 3 | to | 20 |
|  |  | 1,371 |  |  |  | 1,262 |  |  |  |  |  |
Accumulated depreciation |  |  | (562 | ) |  |  | (525 | ) |  |  |  |  |
Total property and equipment, net |  | $ | 809 |  |  | $ | 737 |  |  |  |  |  |
Maintenance, repairs and minor replacements are charged to operations as incurred; major replacements and betterments are capitalized. The cost of any assets divested, sold or retired and the related accumulated depreciation are removed from the accounts at the time of disposition, and any resulting gain or loss is reflected in income or expense for the period. In April 2017, the Federal Communications Commission (the “FCC”) began a process of reallocating the broadcast spectrum (the “Repack”). Specifically, the FCC is requiring certain television stations to change channels and/or modify their transmission facilities. The U.S. Congress passed legislation which provides the FCC with a $1.7 billion fund to reimburse all reasonable costs incurred by stations operating under a full power license and a portion of the costs incurred by stations operating under a low power license that are reassigned to new channels. Subsequent legislation in March 2018 appropriated an additional $1.0 billion for the Repack fund, of which up to $750 million may be made available to reimburse the Repack costs of full power, Class A television stations and multichannel video programming distributors. Other funds are earmarked to assist low power television stations and for other transition costs. The sufficiency of the FCC’s fund to reimburse for Repack costs is dependent upon a number of factors including the amounts to be reimbursed to other industry participants for Repack costs. Therefore, we cannot predict whether the fund will be sufficient to reimburse our Repack costs to the extent authorized under the legislation. 48 of our current full power stations and 37 of our current low power stations are affected by the Repack. The Repack process began in the summer of 2017 and we expect that it will conclude for nearly all of our stations before the end of 2021. The majority of our costs associated with the Repack qualify for capitalization, rather than expense. Upon receipt of funds reimbursing us for our Repack costs, we record those proceeds as a component of our gain on disposal of assets, net. The following tables provide additional information related to gain on disposal of assets, net included in our condensed consolidated statements of operations and purchases of property and equipment included in our condensed consolidated statements of cash flows (in millions):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Gain on disposal of assets, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from sale of assets |  | $ | (3 | ) |  | $ | - |  |  | $ | (3 | ) |  | $ | (1 | )
Proceeds from FCC - Repack |  |  | (3 | ) |  |  | (8 | ) |  |  | (7 | ) |  |  | (14 | )
Net book value of assets disposed |  |  | 4 |  |  |  | 1 |  |  |  | 5 |  |  |  | 2 |
Other |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | (1 | ) |  | $ | (7 | ) |  | $ | (5 | ) |  | $ | (13 | )
Purchase of property and equipment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recurring purchases - operations |  |  |  |  |  |  |  |  |  | $ | 39 |  |  | $ | 37 |
Doraville land purchase |  |  |  |  |  |  |  |  |  |  | 80 |  |  |  | - |
Repack |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  | 14 |
Total |  |  |  |  |  |  |  |  |  | $ | 121 |  |  | $ | 51 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements. In January 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-01, Reference Rate Reform (Topic 848), in response to concerns about structural risks of interbank offered rates, and, particularly, the risk of cessation of the London Interbank Offered Rate. The amendments in this ASU apply to all entities that elect to apply the optional guidance in Topic 848. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final standard, up to the date that financial statements are available to be issued. We are currently evaluating the applicability of this guidance. In addition to the accounting standards described above, certain amounts in the condensed consolidated balance sheets and statements of cash flows have also been reclassified to conform to the current presentation.

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