2020 Q4 Form 10-K Financial Statement

#000156459021009747 Filed on March 01, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2020 Q2
Revenue $1.377B $1.118B $914.6M
YoY Change 25.14% 68.51% 40.93%
Cost Of Revenue $429.6M $417.1M $410.6M
YoY Change -0.39% 30.67% 40.18%
Gross Profit $947.0M $701.1M $504.0M
YoY Change 41.6% 103.63% 41.53%
Gross Profit Margin 68.79% 62.7% 55.1%
Selling, General & Admin $280.0M $232.5M $193.2M
YoY Change 5.03% 26.99% 34.14%
% of Gross Profit 29.57% 33.16% 38.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $142.8M $36.61M $35.77M
YoY Change -11.58% 24.68% 27.34%
% of Gross Profit 15.08% 5.22% 7.1%
Operating Expenses $417.0M $357.5M $193.2M
YoY Change 1.26% 95.27% -61.28%
Operating Profit $530.5M $343.6M $196.3M
YoY Change 106.84% 182.53% 30.88%
Interest Expense -$45.70M -$61.40M -$70.90M
YoY Change -49.78% -31.78% 37.94%
% of Operating Profit -8.61% -17.87% -36.13%
Other Income/Expense, Net $13.60M -$1.093M $10.20M
YoY Change 46.24% -1026.27% -1877.0%
Pretax Income $492.5M $254.5M $135.5M
YoY Change 192.66% 641.33% 39.19%
Income Tax $129.6M $65.20M $37.40M
% Of Pretax Income 26.32% 25.62% 27.59%
Net Earnings $364.2M $190.7M $99.60M
YoY Change 221.74% -3361.23% 46.46%
Net Earnings / Revenue 26.46% 17.05% 10.89%
Basic Earnings Per Share $8.32 $4.24 $2.20
Diluted Earnings Per Share $7.97 $4.08 $2.13
COMMON SHARES
Basic Shares Outstanding 43.76M 44.98M 45.27M
Diluted Shares Outstanding 45.70M 46.74M 46.85M

Balance Sheet

Concept 2020 Q4 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.0M $410.0M $665.0M
YoY Change -34.05% 29.34% 731.25%
Cash & Equivalents $152.7M $409.9M $664.6M
Short-Term Investments
Other Short-Term Assets $153.0M $149.0M $116.0M
YoY Change 0.66% 22.38% 236.77%
Inventory
Prepaid Expenses
Receivables $904.8M $782.0M $763.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.210B $1.341B $1.543B
YoY Change -10.49% -6.59% 98.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.605B $1.817B $1.808B
YoY Change 24.37% 44.54% 141.5%
Goodwill $2.984B $2.861B $2.881B
YoY Change -0.43% -7.18% 32.97%
Intangibles
YoY Change
Long-Term Investments $1.322B $1.309B $1.302B
YoY Change -10.2% -12.37%
Other Assets $418.2M $145.0M $200.0M
YoY Change -7.42% -64.53% 20.92%
Total Long-Term Assets $12.19B $11.95B $12.00B
YoY Change -3.51% -5.67% 91.78%
TOTAL ASSETS
Total Short-Term Assets $1.210B $1.341B $1.543B
Total Long-Term Assets $12.19B $11.95B $12.00B
Total Assets $13.40B $13.29B $13.54B
YoY Change -4.18% -5.76% 92.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $218.4M $161.0M $176.0M
YoY Change 38.8% 47.53% 150.03%
Accrued Expenses $307.2M $279.8M $440.1M
YoY Change -27.29% -43.72% 212.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $21.43M $22.92M $60.49M
YoY Change -80.4% -83.93% -36.29%
Total Short-Term Liabilities $730.9M $672.0M $822.3M
YoY Change -22.87% -38.59% 66.45%
LONG-TERM LIABILITIES
Long-Term Debt $7.647B $7.860B $7.978B
YoY Change -8.79% -6.36% 116.21%
Other Long-Term Liabilities $815.9M $804.0M $840.3M
YoY Change -8.81% -17.73% 240.26%
Total Long-Term Liabilities $8.463B $7.860B $8.818B
YoY Change -8.79% -16.12% 123.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $730.9M $672.0M $822.3M
Total Long-Term Liabilities $8.463B $7.860B $8.818B
Total Liabilities $10.87B $11.06B $11.34B
YoY Change -8.95% -9.03% 123.49%
SHAREHOLDERS EQUITY
Retained Earnings $1.488B $984.3M
YoY Change 91.06% 40.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $367.1M $164.8M
YoY Change 202.45% 102.56%
Treasury Stock Shares $4.035M $2.005M
Shareholders Equity $2.518B $2.235B $2.180B
YoY Change
Total Liabilities & Shareholders Equity $13.40B $13.29B $13.54B
YoY Change -4.18% -5.76% 92.56%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income $364.2M $190.7M $99.60M
YoY Change 221.74% -3361.23% 46.46%
Depreciation, Depletion And Amortization $142.8M $36.61M $35.77M
YoY Change -11.58% 24.68% 27.34%
Cash From Operating Activities $376.7M $160.2M $302.2M
YoY Change 271.13% 101.26% 170.3%
INVESTING ACTIVITIES
Capital Expenditures -$301.0M -$123.5M -$55.80M
YoY Change 244.79% -97.91% 30.07%
Acquisitions
YoY Change
Other Investing Activities $900.0K $62.10M $26.50M
YoY Change -102.74% -95.48% 33.84%
Cash From Investing Activities -$300.2M -$61.50M -$29.10M
YoY Change 150.17% -98.65% 25.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -333.8M -353.4M -42.40M
YoY Change 399.7% -107.49% -69.12%
NET CHANGE
Cash From Operating Activities 376.7M 160.2M 302.2M
Cash From Investing Activities -300.2M -61.50M -29.10M
Cash From Financing Activities -333.8M -353.4M -42.40M
Net Change In Cash -257.3M -254.7M 230.7M
YoY Change 201.64% -200.24% -574.69%
FREE CASH FLOW
Cash From Operating Activities $376.7M $160.2M $302.2M
Capital Expenditures -$301.0M -$123.5M -$55.80M
Free Cash Flow $677.7M $283.7M $358.0M
YoY Change 258.95% -95.27% 131.42%

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CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-5007000
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-11723000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
7147000
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-14611000
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-34166000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
20456000
CY2020 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
822671000
CY2019 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
270461000
CY2018 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
367809000
CY2020 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-3381000
CY2019 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
6036000
CY2018 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-1212000
CY2020 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
826052000
CY2019 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
264425000
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
369021000
CY2018 us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
6500000
CY2018 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
226000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
20456000
CY2019 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
45115000
CY2019 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
38620000
CY2019 nxst Vesting Of Restricted Stock Units And Exercise Of Stock Options
VestingOfRestrictedStockUnitsAndExerciseOfStockOptions
-7410000
CY2019 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
82823000
CY2019 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
6500000
CY2019 us-gaap Noncontrolling Interest Decrease From Deconsolidation
NoncontrollingInterestDecreaseFromDeconsolidation
11026000
CY2019 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
49000
CY2019 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-34166000
CY2020 nxst Vesting Of Restricted Stock Units And Exercise Of Stock Options
VestingOfRestrictedStockUnitsAndExerciseOfStockOptions
-1960000
CY2020 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
101038000
CY2020 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
2131000
CY2020 nxst Adjustments To Additional Paid In Capital Disposal Of Entity
AdjustmentsToAdditionalPaidInCapitalDisposalOfEntity
-1340000
CY2020 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-14611000
CY2020 us-gaap Profit Loss
ProfitLoss
808060000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2536876000
CY2018 us-gaap Profit Loss
ProfitLoss
388265000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
279710000
CY2019 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200317000
CY2018 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
149406000
CY2020 nxst Amortization Of Broadcast Rights
AmortizationOfBroadcastRights
137490000
CY2019 nxst Amortization Of Broadcast Rights
AmortizationOfBroadcastRights
85018000
CY2018 nxst Amortization Of Broadcast Rights
AmortizationOfBroadcastRights
61342000
CY2020 us-gaap Depreciation
Depreciation
147688000
CY2019 us-gaap Depreciation
Depreciation
123375000
CY2018 us-gaap Depreciation
Depreciation
109789000
CY2019 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
63317000
CY2018 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
19911000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
48274000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
38620000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
30046000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
12972000
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10707000
CY2020 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
17228000
CY2018 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-12120000
CY2020 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-4777000
CY2019 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-3985000
CY2018 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-5793000
CY2020 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
43640000
CY2019 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
4545000
CY2018 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-12403000
CY2020 nxst Gain Loss On Relinquishment Of Spectrum
GainLossOnRelinquishmentOfSpectrum
10791000
CY2020 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
7473000
CY2019 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
96091000
CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
3933000
CY2020 nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
57261000
CY2019 nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
70356000
CY2018 nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
29381000
CY2020 nxst Payments For Broadcast Rights
PaymentsForBroadcastRights
193586000
CY2019 nxst Payments For Broadcast Rights
PaymentsForBroadcastRights
100630000
CY2018 nxst Payments For Broadcast Rights
PaymentsForBroadcastRights
61979000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
70154000
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17925000
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2436000
CY2020 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
223682000
CY2019 us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
15256000
CY2020 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-2402000
CY2019 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
53000
CY2018 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-2432000
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16055000
CY2019 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2176000
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-30874000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4960000
CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-9344000
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-97000
CY2020 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-13615000
CY2018 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
16520000
CY2019 nxst Increase Decrease In Accrued Expenses And Other Current Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities
40540000
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-11271000
CY2018 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-17122000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
417467000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
736867000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
217038000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
197511000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
106246000
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
386381000
CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
5881179000
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
103976000
CY2020 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
362803000
CY2019 us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
1352958000
CY2020 nxst Proceeds From Resolution Of Acquired Contingency
ProceedsFromResolutionOfAcquiredContingency
98000000
CY2020 nxst Proceeds From Spectrum Repack Reimbursements From Fcc
ProceedsFromSpectrumRepackReimbursementsFromFCC
57261000
CY2019 nxst Proceeds From Spectrum Repack Reimbursements From Fcc
ProceedsFromSpectrumRepackReimbursementsFromFCC
70356000
CY2018 nxst Proceeds From Spectrum Repack Reimbursements From Fcc
ProceedsFromSpectrumRepackReimbursementsFromFCC
29381000
CY2020 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
-49014000
CY2019 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
48876000
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2644000
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4451000
CY2020 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
7000000
CY2019 us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
2205000
CY2019 us-gaap Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
5011000
CY2020 nxst Other Investing Activities Net
OtherInvestingActivitiesNet
947000
CY2020 us-gaap Repayments Of Debt
RepaymentsOfDebt
2184146000
CY2020 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
25317000
CY2019 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
10094000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
281897000
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
68629000
CY2019 nxst Payments For Finance Lease And Capitalized Software Obligations
PaymentsForFinanceLeaseAndCapitalizedSoftwareObligations
9175000
CY2018 nxst Payments For Finance Lease And Capitalized Software Obligations
PaymentsForFinanceLeaseAndCapitalizedSoftwareObligations
8847000
CY2020 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6784000
CY2019 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9813000
CY2018 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4938000
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5970000
CY2020 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1943000
CY2019 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
6393000
CY2018 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2468000
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
804000
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
49000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1293789000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4388251000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-79369000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
103563000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
248678000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145115000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
324347000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
250663000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
351715000
CY2019 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
315051000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7041000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
25705000
CY2020 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
20342000
CY2018 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
565000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
30977000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
125496000
CY2018 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
6500000
CY2020 nxst Relinquishment Of Spectrum Asset And Derecognition Of Liability To Surrender Spectrum Asset
RelinquishmentOfSpectrumAssetAndDerecognitionOfLiabilityToSurrenderSpectrumAsset
77962000
CY2019 nxst Relinquishment Of Spectrum Asset And Derecognition Of Liability To Surrender Spectrum Asset
RelinquishmentOfSpectrumAssetAndDerecognitionOfLiabilityToSurrenderSpectrumAsset
52002000
CY2018 nxst Relinquishment Of Spectrum Asset And Derecognition Of Liability To Surrender Spectrum Asset
RelinquishmentOfSpectrumAssetAndDerecognitionOfLiabilityToSurrenderSpectrumAsset
314086000
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<p id="Organization_and_Business_Operations" style="margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1:  Organization and Business Operations</p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Nexstar Media Group, Inc., a Delaware corporation, together with its wholly owned subsidiaries (“Nexstar”, “we”, “our”, “ours”, and “us”), is a television broadcasting and digital media company focused on the acquisition, development and operation of television stations and interactive community websites and digital media services. As of December 31, 2020, we owned, operated, programmed or provided sales and other services to 198 full power television stations, including those owned by consolidated variable interest entities (“VIEs”), and one AM radio station in 116 markets in 39 states and the District of Columbia. The stations are affiliates of ABC, NBC, FOX, CBS, The CW, MNTV, and other broadcast television networks. As of December 31, 2020, the stations reached approximately 39% of all U.S. television households (applying the Federal Communications Commission’s (“FCC”) ultra-high frequency (“UHF”) discount). Through various local service agreements, Nexstar provided sales, programming, and other services to 37 full power television stations owned by independent third parties. Nexstar also owns WGN America, a national general entertainment cable network and the home of our national newscast “NewsNation,” digital multicast network services, various digital products, services and content, a 31.3% ownership stake in Television Food Network, G.P. (“TV Food Network”), and a portfolio of real estate assets. </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On October 1, 2020, Nexstar Broadcasting, Inc., a wholly-owned subsidiary of Nexstar, filed a Certificate of Amendment with the Secretary of State of Delaware to change its name to Nexstar Inc. In connection with this change, effective on November 1, 2020, Nexstar merged its two primary operating subsidiaries, Nexstar Inc. and Nexstar Digital, LLC, with Nexstar Inc. surviving the merger as the single operating subsidiary of Nexstar. Accordingly, the broadcasting, network and digital businesses are now operating under the Nexstar Inc. umbrella.</p>
CY2020Q4 nxst Number Of Full Power Television Stations Owned Operated Programmed Or Provided Sales And Other Services
NumberOfFullPowerTelevisionStationsOwnedOperatedProgrammedOrProvidedSalesAndOtherServices
198
CY2020Q4 nxst Number Of Am Radio Station
NumberOfAMRadioStation
1
CY2020Q4 nxst Number Of Television Markets
NumberOfTelevisionMarkets
116
CY2020Q4 nxst Percentage Of Us Television Household Reach
PercentageOfUSTelevisionHouseholdReach
0.39
CY2020Q4 nxst Number Of Full Power Television Stations Owned Or Operated By Independent Third Parties
NumberOfFullPowerTelevisionStationsOwnedOrOperatedByIndependentThirdParties
37
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
152700000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
232100000
CY2020Q4 nxst Working Capital
WorkingCapital
479100000
CY2019Q4 nxst Working Capital
WorkingCapital
404200000
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-bottom:0pt;margin-top:10pt;margin-left:2.26%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Basis of Presentation </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior year financial statement amounts have been reclassified to conform to the current year presentation.</p>
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:10pt;margin-left:2.26%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and use assumptions that affect the reported amounts of assets and liabilities and the disclosure for contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The more significant estimates made by management include, but are not limited to, those relating <span style="color:#000000;">to allowance for doubtful accounts, valuation of assets acquired and liabilities assumed in business combinations, distribution revenue recognized, income taxes, the recoverability of goodwill, FCC licenses and long-lived assets, </span>pension and postretirement obligations<span style="color:#000000;">, the recoverability of investments, the recoverability of broadcast rights and the useful lives of property and equipment and intangible assets. As of December 31, 2020, the Company is not aware of any specific event or circumstance that would require an update to its estimates or judgments or revision of the carrying value of its assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in the Company’s consolidated financial statements in future periods. While the Company considered the effects of COVID-19 in its estimates and assumptions, due to the current level of uncertainty over the economic and operational impacts of COVID-19 on its business, there may be other judgments and assumptions that were not currently considered. Such judgments and assumptions could result in a meaningful impact on the Company’s consolidated financial statements in future periods. Actual results could differ from those estimates and any such differences may have a material impact on the Company’s consolidated financial statements.</span></p>
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
16600000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
34900000
CY2020 nxst Allowance For Doubtful Accounts Bad Debt Expense
AllowanceForDoubtfulAccountsBadDebtExpense
30000000.0
CY2020Q4 nxst Allowance For Uncollectable Doubtful Accounts Other Noncurrent
AllowanceForUncollectableDoubtfulAccountsOtherNoncurrent
13100000
CY2020Q4 us-gaap Business Combination Contingent Consideration Asset
BusinessCombinationContingentConsiderationAsset
98000000.0
CY2020Q4 nxst Accrued Income Taxes Related To Business Combination Contingent Consideration
AccruedIncomeTaxesRelatedToBusinessCombinationContingentConsideration
25000000.0
CY2020Q4 nxst Deferred Tax Liabilities Related To Business Combination Contingent Consideration
DeferredTaxLiabilitiesRelatedToBusinessCombinationContingentConsideration
5500000
CY2020 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
-89000000.0
CY2020 nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Acquisitions Net
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodAcquisitionsNet
92547000
CY2020 nxst Goodwill During Period Divestitures Gross
GoodwillDuringPeriodDivestituresGross
48429000
CY2020 nxst Goodwill During Period A Divestitures Net
GoodwillDuringPeriodADivestituresNet
48429000
CY2020 nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Divestitures Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodDivestituresGross
104308000
CY2020 nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Divestitures Net
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodDivestituresNet
104308000
CY2020 nxst Goodwill Purchase Accounting Adjustments Gross
GoodwillPurchaseAccountingAdjustmentsGross
-96582000
CY2020 us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
-96582000
CY2020Q4 us-gaap Goodwill Gross
GoodwillGross
3116302000
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
132294000
CY2020Q4 us-gaap Goodwill
Goodwill
2984008000
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:10pt;margin-left:2.26%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments which potentially expose the Company to a concentration of credit risk consist principally of cash and cash equivalents, restricted cash, and accounts receivable. Cash deposits are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits; however, the Company believes these deposits are maintained with financial institutions of reputable credit and are not subject to any unusual credit risk. A significant portion of the Company’s accounts receivable is due from local and national advertising agencies. The Company does not require collateral from its customers but maintains reserves for potential credit losses. Management believes that the allowance for doubtful accounts is adequate, but if the financial condition of the Company’s customers were to deteriorate, additional allowances may be required. The Company has not experienced significant losses related to receivables from individual customers or by geographical area.</p>
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.20
CY2020 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2019 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2018 us-gaap Equity Method Investment Other Than Temporary Impairment
EquityMethodInvestmentOtherThanTemporaryImpairment
0
CY2019Q3 nxst Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Equity Investments
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedEquityInvestments
1447000000
CY2019Q4 us-gaap Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
2921465000
CY2020 nxst Goodwill During Period Acquisitions Gross
GoodwillDuringPeriodAcquisitionsGross
132144000
CY2020 nxst Goodwill During Period Acquisitions Net
GoodwillDuringPeriodAcquisitionsNet
132144000
CY2020 nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Acquisitions Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodAcquisitionsGross
92547000
CY2020 us-gaap Advertising Expense
AdvertisingExpense
14900000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
8900000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
8200000
CY2019Q4 nxst Indefinite Lived License Agreements Gross
IndefiniteLivedLicenseAgreementsGross
2968875000
CY2019Q4 nxst Indefinite Lived Intangible Assets Accumulated Impairment Loss
IndefiniteLivedIntangibleAssetsAccumulatedImpairmentLoss
47410000
CY2020Q4 nxst Indefinite Lived License Agreements Gross
IndefiniteLivedLicenseAgreementsGross
2957114000
CY2020Q4 nxst Indefinite Lived Intangible Assets Accumulated Impairment Loss
IndefiniteLivedIntangibleAssetsAccumulatedImpairmentLoss
47410000
CY2020Q4 us-gaap Indefinite Lived License Agreements
IndefiniteLivedLicenseAgreements
2909704000
CY2020Q4 nxst Indefinite Lived License Agreements Carrying Value
IndefiniteLivedLicenseAgreementsCarryingValue
172800000
CY2020Q4 nxst Percentage Of Fcc Licenses Of Consolidated Carrying Amount
PercentageOfFCCLicensesOfConsolidatedCarryingAmount
0.06
CY2020Q4 nxst Indefinite Lived Intangible Assets Impairment Loss
IndefiniteLivedIntangibleAssetsImpairmentLoss
0
CY2019 nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
63107000
CY2018 nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
-1907000
CY2020 nxst Equity Method Investments Amortization Of Basis Difference
EquityMethodInvestmentsAmortizationOfBasisDifference
147759000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44921000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45986000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45718000
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1799000
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1937000
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1694000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46720000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47923000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47412000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
122000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2019 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
4023138000
CY2018 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
4266475000
CY2019 nxst Business Acquisitions Pro Forma Income Or Loss Before Taxes
BusinessAcquisitionsProFormaIncomeOrLossBeforeTaxes
429784000
CY2018 nxst Business Acquisitions Pro Forma Income Or Loss Before Taxes
BusinessAcquisitionsProFormaIncomeOrLossBeforeTaxes
656864000
CY2019 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
300711000
CY2018 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
502694000
CY2019 nxst Business Acquisitions Pro Forma Net Income Loss Attributable To Parent
BusinessAcquisitionsProFormaNetIncomeLossAttributableToParent
295061000
CY2018 nxst Business Acquisitions Pro Forma Net Income Loss Attributable To Parent
BusinessAcquisitionsProFormaNetIncomeLossAttributableToParent
503947000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2224105000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1789592000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
619224000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
499164000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1604881000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1290428000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4138117000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1198916000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2939201000
CY2019Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
4185256000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
925636000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3259620000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
282053000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
277786000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
275019000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
273426000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
269367000
CY2020Q4 nxst Finite Lived Intangible Assets Amortization Expense Period Thereafter
FiniteLivedIntangibleAssetsAmortizationExpensePeriodThereafter
1561550000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
2939201000
CY2019Q4 us-gaap Goodwill Gross
GoodwillGross
3129169000
CY2019Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
132294000
CY2019Q4 us-gaap Goodwill
Goodwill
2996875000
CY2020Q1 us-gaap Land
Land
236000000.0
CY2020 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2020 us-gaap Long Lived Assets Held For Sale Description
LongLivedAssetsHeldForSaleDescription
As it is not probable to sell the property within one year, it no longer meets the criteria of classifying as held for sale.
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1321715000
CY2019Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1471866000
CY2020Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
12063000
CY2019Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
5487000
CY2020Q4 us-gaap Long Term Investments
LongTermInvestments
1333778000
CY2019Q4 us-gaap Long Term Investments
LongTermInvestments
1477353000
CY2020Q4 nxst Equity Method Investment Difference Between Carrying Amount And Underlying Equity Remaining Identifiable Assets Subject To Amortization
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityRemainingIdentifiableAssetsSubjectToAmortization
667600000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
8599703000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
7668003000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
8492588000
CY2020 nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
217913000
CY2019 nxst Equity Method Investments Amortization Of Basis Difference
EquityMethodInvestmentsAmortizationOfBasisDifference
45182000
CY2018 nxst Equity Method Investments Amortization Of Basis Difference
EquityMethodInvestmentsAmortizationOfBasisDifference
529000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
70154000
CY2019 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
17925000
CY2018 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-2436000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
104133000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
88372000
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
67885000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
88600000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
307192000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
422511000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
7742557000
CY2020Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
21429000
CY2019Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
109310000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
7646574000
CY2019Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
8383278000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
21429000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
44170000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
879900000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1367742000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
5429316000
CY2020Q4 nxst Long Term Debt Maturities
LongTermDebtMaturities
7742557000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
282834000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
235285000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
35850000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
35043000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
234208000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
185722000
CY2020Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Property Plant And Equipment Other Accumulated Depreciation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassPropertyPlantAndEquipmentOtherAccumulatedDepreciation
3349000
CY2019Q4 us-gaap Capital Leases Lessee Balance Sheet Assets By Major Class Property Plant And Equipment Other Accumulated Depreciation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassPropertyPlantAndEquipmentOtherAccumulatedDepreciation
2526000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
7641000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
8138000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1003000
CY2019Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
900000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
14172000
CY2019Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
15177000
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y8M12D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y4M24D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P10Y8M12D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y7M6D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.057
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.057
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
47300000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
28500000
CY2018 us-gaap Operating Lease Cost
OperatingLeaseCost
22800000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
111486000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
102516000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
56856000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
28962000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
7997000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-8945000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-11497000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
4406000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
47002000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
16754000
CY2020 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
895000
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
712000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
900000
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
610000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
47181000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1843000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
48160000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1803000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
44907000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
1818000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
41781000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1833000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
29097000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
1879000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
139338000
CY2020Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
11484000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
350464000
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
20660000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
80406000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
5485000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
270058000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
15175000
CY2019Q3 nxst Percentage Of Defined Benefit Plan Not Frozen In Overall Projected Benefit Obligation
PercentageOfDefinedBenefitPlanNotFrozenInOverallProjectedBenefitObligation
0.02
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
29761000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
338214000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
140448000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
132277000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-32761000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
8075000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
48300000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
38600000
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
31300000
CY2020 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2852958
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
281358000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-41706000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3422000
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
12403000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
296508000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
137026000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
144680000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
231922000
CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
78229000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
111915000
CY2020 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
43082000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
13569000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
27123000
CY2020 nxst Income Tax Reconciliation Nondeductible Expense Nondeductible Compensation
IncomeTaxReconciliationNondeductibleExpenseNondeductibleCompensation
6289000
CY2019 nxst Income Tax Reconciliation Nondeductible Expense Nondeductible Compensation
IncomeTaxReconciliationNondeductibleExpenseNondeductibleCompensation
5149000
CY2018 nxst Income Tax Reconciliation Nondeductible Expense Nondeductible Compensation
IncomeTaxReconciliationNondeductibleExpenseNondeductibleCompensation
2858000
CY2019 nxst Income Tax Reconciliation Nondeductible Expense Nondeductible Acquisition Costs
IncomeTaxReconciliationNondeductibleExpenseNondeductibleAcquisitionCosts
3649000
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
1487000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
2171000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Meals And Entertainment
IncomeTaxReconciliationNondeductibleExpenseMealsAndEntertainment
2047000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
8920000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
1532000
CY2020 nxst Income Tax Rate Reconciliation Excess Tax Benefit On Stock Based Compensation
IncomeTaxRateReconciliationExcessTaxBenefitOnStockBasedCompensation
-2974000
CY2019 nxst Income Tax Rate Reconciliation Excess Tax Benefit On Stock Based Compensation
IncomeTaxRateReconciliationExcessTaxBenefitOnStockBasedCompensation
-5363000
CY2018 nxst Income Tax Rate Reconciliation Excess Tax Benefit On Stock Based Compensation
IncomeTaxRateReconciliationExcessTaxBenefitOnStockBasedCompensation
-750000
CY2020 nxst Income Tax Rate Reconciliation Disposition Of Nondeductible Goodwill
IncomeTaxRateReconciliationDispositionOfNondeductibleGoodwill
8347000
CY2019 nxst Income Tax Rate Reconciliation Disposition Of Nondeductible Goodwill
IncomeTaxRateReconciliationDispositionOfNondeductibleGoodwill
10302000
CY2020 nxst Income Tax Rate Reconciliation Change In Beginning Of Year Valuation Allowance
IncomeTaxRateReconciliationChangeInBeginningOfYearValuationAllowance
5332000
CY2019 nxst Income Tax Rate Reconciliation Change In Beginning Of Year Valuation Allowance
IncomeTaxRateReconciliationChangeInBeginningOfYearValuationAllowance
19894000
CY2018 nxst Income Tax Rate Reconciliation Change In Beginning Of Year Valuation Allowance
IncomeTaxRateReconciliationChangeInBeginningOfYearValuationAllowance
1430000
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
3023000
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
506000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-1475000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
296508000
CY2019 us-gaap Income Tax Expense Benefit
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8
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1
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1
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1
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2750000000
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CapitalExpendituresRelatedToStationRepack
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CapitalExpendituresRelatedToStationRepack
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20
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149406000
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OperatingIncomeLoss
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4501269000
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RevenueFromContractWithCustomerExcludingAssessedTax
3039324000
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RevenueFromContractWithCustomerExcludingAssessedTax
2766696000
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CY2020Q1 us-gaap Operating Income Loss
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OperatingIncomeLoss
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OperatingIncomeLoss
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OperatingIncomeLoss
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NetIncomeLoss
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3.43
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4.08
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EarningsPerShareDiluted
7.97
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47615000
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46849000
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46737000
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45700000
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626647000
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649012000
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663575000
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97381000
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34329000
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168283000
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1.20
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47971000
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46114000
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47933000

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