SINCLAIR BROADCAST GROUP, INC. SBGI Income Statement

Sinclair broadcast group, inc. (SBGI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
REVENUES:
Station broadcast revenues, net of agency commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	448,056	404,151	373,881	-	303,028	279,270	252,925	287,100	225,023	217,582	190,888	180,796	151,875	159,370	155,961	158,809	158,709
Revenues realized from station barter arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	32,061	34,003	26,510	31,387	28,618	30,373	20,959	36,419	28,482	33,336	24,025	27,750	20,653	22,047	18,230	26,845	21,179	21,343	17,538	19,541	17,512	18,498	17,222	17,812	17,985
Other operating divisions revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,418	17,649	14,742	-	14,963	12,837	11,463	15,572	12,512	12,149	13,948	12,440	11,655	10,992	9,426	9,831	6,497
Revenues
1,609,000	1,622,281	1,125,000	770,719	722,000	893,505	766,000	730,143	665,352	712,298	644,532	652,234	626,936	683,252	693,835	666,534	578,889	611,790	548,404	554,167	504,775	613,818	494,956	455,136	412,648	427,715	338,644	314,154	282,618	329,517	258,714	251,074	222,374	212,777	181,042	188,860	182,609	186,452	183,191
OPERATING EXPENSES:
Media Programming And Production Expenses
828,000	858,838	560,000	335,162	319,000	297,593	304,000	300,858	288,549	267,783	268,330	269,486	258,401	253,227	242,880	243,620	215,877	192,645	187,173	181,810	171,571	167,082	150,263	134,303	127,039	121,580	98,939	85,694	80,433	71,458	61,705	62,596	59,797	51,857	41,493	42,917	42,345	38,619	38,645
Media selling, general and administrative expenses
210,000	222,245	185,000	164,755	160,000	177,307	155,000	150,794	146,899	148,628	133,605	127,046	124,721	131,420	126,672	128,488	115,009	120,640	105,622	103,225	102,241	110,397	97,303	82,595	81,925	79,944	66,115	53,297	51,938	50,817	43,169	41,581	35,712	31,843	31,341	30,192	30,562	32,230	30,554
Expenses recognized from station barter arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	27,181	29,259	22,925	26,306	23,105	26,381	17,412	31,947	24,764	29,528	21,477	23,871	18,082	19,382	16,014	24,715	19,300	19,695	16,124	17,669	15,815	16,531	15,727	15,716	15,748
Amortization of program contract costs and net realizable value adjustments
23,000	21,916	22,000	22,084	24,000	25,340	24,000	24,710	26,950	28,038	28,047	28,896	31,019	31,158	32,441	30,821	33,460	34,605	29,841	29,782	30,391	30,492	28,622	23,574	23,941	24,179	19,229	18,656	18,861	17,425	14,296	15,169	14,100	13,962	12,833	12,666	12,618	15,945	15,303
Non-media expenses
30,000	35,790	42,000	39,210	39,000	37,756	32,000	31,021	21,223	23,026	17,496	16,076	18,402	26,787	20,488	19,761	17,697	24,815	16,555	15,520	14,913	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating divisions expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,919	14,453	12,325	-	12,746	10,736	9,869	13,014	10,372	10,503	12,290	13,384	9,369	8,770	7,963	7,902	6,433
Depreciation of property and equipment
24,000	27,695	24,000	22,305	23,000	29,558	25,000	23,117	27,325	24,974	24,442	23,603	23,981	24,199	25,886	24,409	24,035	27,495	25,476	25,273	25,189	28,319	25,342	25,252	24,378	23,446	17,408	15,105	14,595	13,042	12,626	12,134	9,271	9,351	7,602	7,861	8,060	9,022	9,093
Corporate general and administrative expenses
49,000	70,345	237,000	51,655	28,000	22,719	34,000	29,685	24,596	41,542	25,831	25,051	20,576	18,884	19,052	14,279	21,341	17,561	16,464	14,183	16,038	15,622	15,218	15,820	15,835	14,320	16,109	11,447	11,250	8,225	8,286	7,513	9,367	6,784	5,789	7,073	8,664	6,236	7,250
Amortization of definite-lived intangible and other assets
150,000	144,463	96,000	43,537	43,000	43,278	45,000	43,117	43,605	46,701	43,368	43,377	45,554	46,598	47,807	45,625	43,765	42,015	40,014	39,445	39,980	41,301	34,478	24,989	24,728	22,093	17,168	15,557	16,002	11,724	10,562	9,994	5,819	4,426	4,393	4,614	4,796	4,687	4,205
Gain on asset dispositions and other, net of impairment
32,000	35,012	35,000	13,988	8,000	3,150	11,000	4,741	21,109	225,469	34	150	53,347	47	3,311	11	2,660	-584	255	29	22	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Research and development expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	745	1,209	1,101	881	4,803	4,237	2,515	-	2,384	1,583	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of goodwill, intangible and other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	398	-	-
Total operating expenses
1,282,000	1,346,280	1,131,000	664,720	628,000	630,401	608,000	598,561	558,038	355,223	541,085	533,385	469,307	449,806	539,841	537,460	492,550	487,547	448,798	439,827	420,228	404,869	393,293	352,097	331,648	324,479	265,796	229,874	218,962	210,413	180,316	179,185	162,480	149,258	128,635	130,624	131,133	130,357	127,231
Operating income
327,000	276,001	-6,000	105,999	94,000	263,104	158,000	131,582	107,314	357,075	103,447	118,849	157,629	233,446	153,994	129,074	86,339	124,243	99,606	114,340	84,547	208,949	101,663	103,039	81,000	103,236	72,848	84,280	63,656	119,104	78,398	71,889	59,894	63,519	52,407	58,236	51,476	56,095	55,960
OTHER INCOME (EXPENSE):
Interest Expense
180,000	185,322	129,000	53,678	54,000	53,987	76,000	92,271	69,742	51,980	51,743	50,959	57,318	54,324	53,488	53,916	49,415	48,569	48,566	47,664	46,648	47,253	47,950	40,121	39,538	39,908	39,867	45,465	37,697	36,552	35,294	29,320	27,387	27,564	24,463	24,934	29,167	31,349	28,132
Loss from equity investments
-	-	-	-	-	-	-	-	-	-	-4,362	1,462	-1,321	-	1,423	943	423	-4,441	252	2,007	3,146	-455	1,928	742	98	506	1,571	-404	-1,052	1,327	1,919	5,148	1,276	363	2,080	815	11	-1,997	-1,024
Gain (Loss) on Extinguishment of Debt
2,000	-	-	-	0	-	-	-	-	-	-	0	-1,404	0	-23,699	0	0	-	0	-	-	-	-	-	-	-	-	-16,283	-	0	0	0	-335	-328	-117	-3,478	-924	-3,939	-149
Income (Loss) from Equity Method Investments
-6,000	2,844	-12,000	-11,844	-14,000	-16,723	-14,000	-17,690	-12,587	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on insurance settlement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1,723	-	-
Other (expense) income, net
-4,000	-4,533	3,000	5,533	2,000	1,228	-6,000	4,391	3,381	3,399	2,342	1,563	1,696	1,618	789	1,104	462	320	-48	1,050	218	2,415	651	1,015	917	798	488	482	457	540	547	715	471	429	409	496	365	557	539
Total other expense, net
-188,000	-197,011	-138,000	-59,989	-66,000	-69,482	-96,000	-105,570	-78,948	-57,956	-53,763	-47,934	-58,347	-54,589	-74,975	-51,869	-48,530	-52,690	-48,362	-44,607	-43,284	-59,846	-45,371	-38,364	-38,523	-80,742	-37,808	-61,670	-38,292	-34,685	-32,828	-23,457	-25,975	-27,081	-22,091	-27,101	-27,992	-36,728	-28,766
Income before income tax
139,000	78,990	-144,000	46,010	28,000	193,622	62,000	26,012	28,366	299,119	49,684	70,915	99,282	178,857	79,019	77,205	37,809	71,553	51,244	69,733	41,263	149,103	56,292	64,675	42,477	22,494	35,040	22,610	25,364	84,419	45,570	48,432	33,919	36,438	30,316	31,135	23,484	19,367	27,194
Income Tax Expense (Benefit)
-12,000	-8,627	-95,000	2,627	5,000	-14,075	-3,000	-3,297	-15,628	-145,577	17,118	24,880	28,579	56,357	26,986	26,605	12,180	10,723	7,210	23,334	16,427	52,014	7,524	23,074	14,820	18,257	4,489	9,654	8,849	25,667	19,093	18,298	4,794	13,084	10,875	12,576	8,250	5,154	10,516
Income from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,237	30,551	12,956	16,515	58,752	26,477	30,134	29,125	23,354	19,441	18,559	15,234	14,213	16,678
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,100	5,103	355	643	-125	-2	-51	-112	-110	-82	-107	-68	274
NET INCOME
151,000	87,617	-49,000	43,383	23,000	207,697	65,000	29,309	43,994	444,696	32,566	46,035	70,703	122,500	52,033	50,600	25,629	60,830	44,034	46,399	24,836	97,089	48,768	41,601	27,657	4,237	36,651	18,059	16,870	59,395	26,352	30,132	29,074	23,242	19,331	18,477	15,127	14,145	16,952
Net income attributable to the redeemable noncontrolling interests
20,000	-	11,000	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income attributable to the noncontrolling interests
8,000	7,914	0	1,086	1,000	1,861	1,000	1,268	871	1,180	1,929	1,390	13,501	1,603	1,188	1,181	1,489	2,630	779	612	554	1,644	427	266	499	1,934	309	233	-127	393	107	72	-285	540	93	-102	-152	-131	-321
Net Income (Loss) Available to Common Stockholders, Basic
123,000	42,703	-60,000	42,297	22,000	205,836	64,000	28,041	43,123	443,516	30,637	44,645	57,202	120,897	50,845	49,419	24,140	58,200	43,255	45,787	24,282	95,445	48,341	41,335	27,158	2,303	36,342	17,826	16,997	59,002	26,245	30,060	29,359	22,702	19,238	18,579	15,279	14,276	17,273
Dividends declared per share (USD per share)
-	-	-	-	-	-	-	-	-	-	-	0.18	0.18	-	0.18	0.18	0.16	0.16	0.16	0.16	0.16	0.16	0.16	0.15	0.15	0.15	0.15	0.15	0.15	1.15	0.15	0.12	0.12	0.12	0.12	0.12	0.12	-	-
Earnings Per Share [Abstract]
Basic earnings per share from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.02	0.30	0.14	0.20	0.72	0.33	0.37	0.36	-	0.24	0.23	-	0.18	0.22
Basic earnings per share from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.06	0.06	-	-	0.00	-	-	-	-	-	-	-	-
Basic earnings per share (USD per share)
1.36	0.48	-0.65	0.46	0.23	2.06	0.63	0.27	0.42	4.42	0.30	0.43	0.62	1.31	0.54	0.52	0.25	0.61	0.46	0.48	0.26	0.99	0.50	0.43	0.27	0.02	0.37	0.19	0.21	0.73	0.33	0.37	0.36	-	0.24	0.23	-	0.18	0.22
Diluted earnings per share from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.02	0.30	0.14	0.20	-	0.33	0.37	-	-	0.24	0.23	-	0.18	0.21
Diluted earnings per share from discontinued operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.06	0.05	-	-	0.00	-	-	-	-	-	-	-	-
Diluted earnings per share (USD per share)
1.35	0.47	-0.64	0.45	0.23	2.04	0.62	0.27	0.42	4.38	0.30	0.43	0.61	1.29	0.54	0.52	0.25	0.61	0.45	0.48	0.25	0.99	0.49	0.42	0.27	0.02	0.36	0.19	0.21	-	0.32	0.37	-	-	0.24	0.23	-	0.18	0.21
Earnings per share from continuing operations (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.19	-	-
Earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.19	-	-
Weighted average common shares outstanding (shares)
90,609	91,908	92,086	91,764	92,302	97,446	102,083	102,224	101,899	101,852	102,245	102,649	92,630	90,593	93,948	95,026	94,701	94,572	95,002	95,307	95,131	95,304	97,154	97,174	98,824	100,081	99,473	92,083	81,191	81,111	81,081	81,036	80,852	79,003	80,764	80,734	80,367	80,344	80,307
Weighted Average Number of Shares Outstanding, Diluted
91,226	92,924	93,435	93,163	93,218	98,180	102,789	102,986	102,917	102,744	103,055	103,665	93,692	91,418	94,766	95,934	95,614	95,399	95,692	96,050	95,771	96,014	97,896	97,864	99,502	99,473	100,239	93,604	82,064	81,440	81,379	81,294	81,127	79,342	81,068	81,028	80,690	80,627	86,985
AMOUNTS ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP COMMON SHAREHOLDERS:
Income from continuing operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,303	30,242	12,723	16,642	58,359	26,370	30,062	29,410	22,814	19,348	18,661	15,386	14,344	16,999
Income (loss) from discontinued operations, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,100	5,103	355	643	-125	-2	-51	-112	-110	-82	-107	-68	274
NET INCOME ATTRIBUTABLE TO SINCLAIR BROADCAST GROUP
123,000	42,703	-60,000	42,297	22,000	205,836	64,000	28,041	43,123	443,516	30,637	44,645	57,202	-	50,845	49,419	-	-	-	-	-	95,445	48,341	41,335	27,158	2,303	36,342	17,826	16,997	59,002	26,245	30,060	29,359	22,702	19,238	18,579	15,279	14,276	17,273
Media revenues
Revenues
1,574,000	1,582,102	1,070,000	720,898	673,000	849,487	730,000	695,862	643,651	693,120	629,597	637,226	607,057	747,816	635,269	606,268	531,323	545,858	498,167	503,170	464,751	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-media revenues
Revenues
35,000	40,179	55,000	49,821	49,000	44,018	36,000	34,281	21,701	19,178	14,935	15,008	19,879	28,010	26,505	26,263	21,056	34,545	21,619	20,624	19,065	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-