Quarterly report [Sections 13 or 15(d)]

CONSOLIDATED BALANCE SHEETS

v3.25.3
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 79 $ 162
Prepaid expenses and other current assets 277 290
Total current assets 1,084 1,149
Property and equipment, net 2,239 2,109
FCC licenses 8,610 8,610
Other intangible assets, net 1,486 1,579
Goodwill 12,390 12,390
Equity method investments 975 1,043
Other long-term assets 617 641
Total assets 27,401 27,521
Current liabilities:    
Accounts payable and accrued expenses 1,175 1,284
Accrued interest 71 172
Current portion of deferred revenue 1,005 1,050
Current maturities of debt 1,058 61
Total current liabilities 3,461 2,731
Long-term deferred revenue 89 82
Long-term debt, including $594 measured at fair value at each of September 30, 2025 and December 31, 2024 (Note 11) 9,019 10,314
Deferred tax liabilities 2,275 2,220
Other long-term liabilities 1,001 1,100
Total liabilities 15,845 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 September 30, 2025 and December 31, 2024, respectively 0 0
Accumulated other comprehensive loss, net of tax (50) (46)
Additional paid-in capital 0 0
Treasury stock, at cost; zero and 26 thousand shares of common stock at September 30, 2025 and December 31, 2024, respectively 0 (1)
Retained earnings 11,606 11,121
Total stockholders’ equity 11,556 11,074
Total liabilities and stockholders’ equity 27,401 27,521
Nonrelated Party    
Current assets:    
Receivables, net 703 676
Current liabilities:    
Other current liabilities 47 48
Related Party    
Current assets:    
Receivables, net 25 21
Current liabilities:    
Other current liabilities $ 105 $ 116