Sinclair, Inc.
For the period ended Mar 31, 2025. Filed May 9, 2025.
View on SEC.govAbout this filing
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, 2025 · Filed May 9, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
CONSOLIDATED BALANCE SHEETS
| As of March 31,2025 | As of December 31,2024 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $631 | $697 |
| Accounts receivable, net of allowance for doubtful accounts of $5 and $6, respectively | 676 | 637 |
| Income taxes receivable | — | 5 |
| Prepaid expenses and other current assets | 161 | 146 |
| Assets held-for-sale | 36 | — |
| Total current assets | 1,504 | 1,485 |
| Property and equipment, net | 674 | 705 |
| Operating lease assets | 120 | 123 |
| Goodwill | 2,094 | 2,082 |
| Indefinite-lived intangible assets | 149 | 150 |
| Customer relationships, net | 304 | 302 |
| Other definite-lived intangible assets, net | 308 | 328 |
| Other assets | 626 | 710 |
| Total assets (a) | $5,779 | $5,885 |
| LIABILITIES AND EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued liabilities | $439 | $416 |
| Income taxes payable | 88 | — |
| Current portion of notes payable, finance leases, and commercial bank financing | 25 | 38 |
| Current portion of operating lease liabilities | 22 | 22 |
| Current portion of program contracts payable | 52 | 69 |
| Other current liabilities | 93 | 60 |
| Liabilities held-for-sale | 5 | — |
| Total current liabilities | 724 | 605 |
| Notes payable, finance leases, and commercial bank financing, less current portion | 4,166 | 4,091 |
| Operating lease liabilities, less current portion | 126 | 130 |
| Program contracts payable, less current portion | 10 | 13 |
| Deferred tax liabilities | 196 | 335 |
| Other long-term liabilities | 189 | 195 |
| Total liabilities (a) | 5,411 | 5,369 |
| Commitments and contingencies (See Note 4) | ||
| Shareholders’ equity: | ||
| Class A Common Stock, $.01 par value, 500,000,000 shares authorized, 45,756,209 and 42,642,126 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 | 597 | 570 |
| (Accumulated deficit) retained earnings | (163) | 10 |
| Accumulated other comprehensive income | 1 | 2 |
| Total Sinclair shareholders’ equity | 436 | 583 |
| Noncontrolling interests | (68) | (67) |
| Total equity | 368 | 516 |
| Total liabilities and equity | $5,779 | $5,885 |
(a)Our consolidated total assets as of March 31, 2025 and December 31, 2024 include total assets of variable interest entities (“VIE”) of $66 million and $70 million, respectively, which can only be used to settle the obligations of the VIEs. Our consolidated total liabilities as of March 31, 2025 and December 31, 2024 include total liabilities of VIEs of $15 million and $16 million, respectively, for which the creditors of the VIEs have no recourse to us. See Note 7. Variable Interest Entities.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.