CONSOLIDATED BALANCE SHEETS  (In thousands, except share and per share data)  As of December 31,  2010  2009  ASSETS CURRENT ASSETS:  Cash and cash equivalents  $ 21,974  $ 23,224  Current portion of restricted cash  5,058  27,667 Accounts receivable, net of allowance for doubtful accounts of $3,242 and $2,932,  respectively  121,283  106,792  Affiliate receivable  88  69 Current portion of program contract costs  37,000  43,741  Income taxes receivable  —  8,073 Prepaid expenses and other current assets  6,064  6,130  Deferred barter costs  3,156  2,825 Deferred tax assets  9,658  7,277  Total current assets  204,281  225,798 PROGRAM CONTRACT COSTS, less current portion  8,729  16,417 PROPERTY AND EQUIPMENT, net  272,231  296,227  RESTRICTED CASH, less current portion  223 37,216  GOODWILL  660,017  660,017  BROADCAST LICENSES  47,375  51,988 DEFINITE-LIVED INTANGIBLE ASSETS, net  184,652  193,405  OTHER ASSETS  108,416  108,961 Total assets  $ 1,485,924  $ 1,590,029  LIABILITIES AND EQUITY (DEFICIT)  CURRENT LIABILITIES:  Accounts payable  $ 5,952  $  3,746 Accrued liabilities  68,071  60,523  Income taxes payable  298  — Current portion of notes payable, capital leases and commercial bank financing  19,556  40,632  Current portion of notes payable and capital leases payable to affiliates  3,196  2,995 Current portion of program contracts payable  68,301  91,995  Deferred barter revenues  2,522  2,810 Total current liabilities  167,896  202,701  LONG-TERM LIABILITIES:  Notes payable, capital leases and commercial bank financing, less current portion  1,169,740  1,297,964  Notes payable and capital leases to affiliates, less current portion  19,573  24,717 Program contracts payable, less current portion  29,593  48,448  Deferred tax liabilities  210,335 169,527  Other long-term liabilities  45,869  48,894  Total liabilities  1,643,006  1,792,251 EQUITY (DEFICIT):  SINCLAIR BROADCAST GROUP SHAREHOLDERS’ EQUITY (DEFICIT):  Class A Common Stock, $.01 par value, 500,000,000 shares authorized, 50,284,052  and 47,375,437 shares issued and outstanding, respectively 503  474  Class B Common Stock, $.01 par value, 140,000,000 shares authorized, 30,083,819  and 32,453,859 shares issued and outstanding, respectively, convertible into  Class A Common Stock  301  325  Additional paid-in capital  609,640  605,340  Accumulated deficit  (771,953)  (813,876) Accumulated other comprehensive loss  (3,914)  (4,213)  Total Sinclair Broadcast Group shareholders’ deficit  (165,423)  (211,950) Noncontrolling interest  8,341  9,728  Total deficit  (157,082)  (202,222) Total liabilities and equity (deficit)  $ 1,485,924  $ 1,590,029  The accompanying notes are an integral part of these consolidated financial statements.  2010 Annual Report    25 