Sinclair Inc

For the period ended Mar 31, 2024. Filed May 10, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 10, 2024

SBGI$14.23+4.0%Stored close · as of Nov 9, 2026

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Contents

CONSOLIDATED BALANCE SHEETS

	As of March 31,2024	As of December 31,2023
ASSETS
Current assets:
Cash and cash equivalents	$655	$662
Accounts receivable, net of allowance for doubtful accounts of $4 as of both periods	642	616
Income taxes receivable	7	8
Prepaid expenses and other current assets	177	189
Total current assets	1,481	1,475
Property and equipment, net	720	715
Operating lease assets	139	142
Goodwill	2,082	2,082
Indefinite-lived intangible assets	150	150
Customer relationships, net	352	369
Other definite-lived intangible assets, net	389	410
Other assets	725	742
Total assets (a)	$6,038	$6,085
LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS, AND EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$854	$913
Current portion of notes payable, finance leases, and commercial bank financing	37	36
Current portion of operating lease liabilities	22	21
Current portion of program contracts payable	57	76
Other current liabilities	70	57
Total current liabilities	1,040	1,103
Notes payable, finance leases, and commercial bank financing, less current portion	4,112	4,139
Operating lease liabilities, less current portion	148	152
Program contracts payable, less current portion	11	14
Deferred tax liabilities	258	252
Other long-term liabilities	200	204
Total liabilities (a)	5,769	5,864
Commitments and contingencies (See Note 5)
Shareholders' equity:
Class A Common Stock, $.01 par value, 500,000,000 shares authorized, 42,305,323 and 39,737,682 shares issued and outstanding, respectively	1	1
Class B Common Stock, $.01 par value, 140,000,000 shares authorized, 23,775,056 and 23,775,056 shares issued and outstanding, respectively, convertible into Class A Common Stock	—	—
Additional paid-in capital	554	517
Accumulated deficit	(227)	(234)
Accumulated other comprehensive income	5	1
Total Sinclair shareholders' equity	333	285
Noncontrolling interests	(64)	(64)
Total equity	269	221
Total liabilities and equity	$6,038	$6,085

(a)Our consolidated total assets as of March 31, 2024 and December 31, 2023 include total assets of variable interest entities ("VIE") of $78 million and $85 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2024 and December 31, 2023 include total liabilities of VIEs of $16 million and $17 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 8. Variable Interest Entities.

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