Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED BALANCE SHEETS

v3.25.2
CONSOLIDATED BALANCE SHEETS - USD ($)
shares in Thousands, $ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 92 $ 162
Prepaid expenses and other current assets 267 290
Total current assets 1,045 1,149
Property and equipment, net 2,146 2,109
FCC licenses 8,610 8,610
Other intangible assets, net 1,517 1,579
Goodwill 12,390 12,390
Equity method investments 1,002 1,043
Other long-term assets 616 641
Total assets 27,326 27,521
Current liabilities:    
Accounts payable and accrued expenses 1,160 1,284
Accrued interest 170 172
Current portion of deferred revenue 1,033 1,050
Current maturities of debt 61 61
Total current liabilities 2,570 2,731
Long-term deferred revenue 87 82
Long-term debt, including $596 and $594 measured at fair value, respectively (Note 11) 10,136 10,314
Deferred tax liabilities 2,186 2,220
Other long-term liabilities 1,018 1,100
Total liabilities 15,997 16,447
Commitments and contingencies (Note 14)
Stockholders’ Equity:    
Common stock, par value $0.001 per share; 900 shares authorized; 337 and 339 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 0 0
Accumulated other comprehensive loss, net of tax (48) (46)
Additional paid-in capital 0 0
Treasury stock, at cost; 26 thousand shares of common stock at each of June 30, 2025 and December 31, 2024 (1) (1)
Retained earnings 11,378 11,121
Total stockholders’ equity 11,329 11,074
Total liabilities and stockholders’ equity $ 27,326 $ 27,521
Treasury stock (in shares) 26 26
Nonrelated Party    
Current assets:    
Receivables, net $ 662 $ 676
Current liabilities:    
Other current liabilities 47 48
Related Party    
Current assets:    
Receivables, net 24 21
Current liabilities:    
Other current liabilities $ 99 $ 116