$NXST
NEXSTAR MEDIA GROUP, INC.

2021 Q2 Form 10-Q Financial Statement

#000156459021041546 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $1.132B $914.6M
YoY Change 23.72% 40.93%
Cost Of Revenue $455.6M $410.6M
YoY Change 10.97% 40.18%
Gross Profit $676.0M $504.0M
YoY Change 34.12% 41.53%
Gross Profit Margin 59.74% 55.1%
Selling, General & Admin $242.5M $193.2M
YoY Change 25.49% 34.14%
% of Gross Profit 35.87% 38.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $39.90M $35.77M
YoY Change 11.55% 27.34%
% of Gross Profit 5.9% 7.1%
Operating Expenses $242.5M $193.2M
YoY Change 25.49% -61.28%
Operating Profit $288.3M $196.3M
YoY Change 46.9% 30.88%
Interest Expense -$35.15M -$70.90M
YoY Change -50.42% 37.94%
% of Operating Profit -12.19% -36.13%
Other Income/Expense, Net $7.600M $10.20M
YoY Change -25.49% -1877.0%
Pretax Income $270.5M $135.5M
YoY Change 99.56% 39.19%
Income Tax $70.70M $37.40M
% Of Pretax Income 26.14% 27.59%
Net Earnings $200.1M $99.60M
YoY Change 100.91% 46.46%
Net Earnings / Revenue 17.68% 10.89%
Basic Earnings Per Share $4.70 $2.20
Diluted Earnings Per Share $4.51 $2.13
COMMON SHARES
Basic Shares Outstanding 42.60M 45.27M
Diluted Shares Outstanding 44.40M 46.85M

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $313.3M $665.0M
YoY Change -52.89% 731.25%
Cash & Equivalents $329.9M $664.6M
Short-Term Investments
Other Short-Term Assets $184.4M $116.0M
YoY Change 58.94% 236.77%
Inventory
Prepaid Expenses
Receivables $895.5M $763.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.393B $1.543B
YoY Change -9.72% 98.85%
LONG-TERM ASSETS
Property, Plant & Equipment $1.592B $1.808B
YoY Change -11.94% 141.5%
Goodwill $2.983B $2.881B
YoY Change 3.54% 32.97%
Intangibles
YoY Change
Long-Term Investments $1.172B $1.302B
YoY Change -10.02%
Other Assets $422.0M $200.0M
YoY Change 110.98% 20.92%
Total Long-Term Assets $11.89B $12.00B
YoY Change -0.85% 91.78%
TOTAL ASSETS
Total Short-Term Assets $1.393B $1.543B
Total Long-Term Assets $11.89B $12.00B
Total Assets $13.29B $13.54B
YoY Change -1.86% 92.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $140.7M $176.0M
YoY Change -20.07% 150.03%
Accrued Expenses $319.4M $440.1M
YoY Change -27.42% 212.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $33.51M $60.49M
YoY Change -44.6% -36.29%
Total Short-Term Liabilities $639.0M $822.3M
YoY Change -22.3% 66.45%
LONG-TERM LIABILITIES
Long-Term Debt $7.586B $7.978B
YoY Change -4.9% 116.21%
Other Long-Term Liabilities $754.9M $840.3M
YoY Change -10.17% 240.26%
Total Long-Term Liabilities $8.341B $8.818B
YoY Change -5.41% 123.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $639.0M $822.3M
Total Long-Term Liabilities $8.341B $8.818B
Total Liabilities $10.66B $11.34B
YoY Change -5.96% 123.49%
SHAREHOLDERS EQUITY
Retained Earnings $1.824B $984.3M
YoY Change 85.28% 40.23%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $575.7M $164.8M
YoY Change 249.25% 102.56%
Treasury Stock Shares $5.136M $2.005M
Shareholders Equity $2.610B $2.180B
YoY Change
Total Liabilities & Shareholders Equity $13.29B $13.54B
YoY Change -1.86% 92.56%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $200.1M $99.60M
YoY Change 100.91% 46.46%
Depreciation, Depletion And Amortization $39.90M $35.77M
YoY Change 11.55% 27.34%
Cash From Operating Activities $147.3M $302.2M
YoY Change -51.27% 170.3%
INVESTING ACTIVITIES
Capital Expenditures -$43.21M -$55.80M
YoY Change -22.57% 30.07%
Acquisitions
YoY Change
Other Investing Activities $22.90M $26.50M
YoY Change -13.6% 33.84%
Cash From Investing Activities -$20.31M -$29.10M
YoY Change -30.21% 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 -153.5M -42.40M
YoY Change 261.98% -69.12%
NET CHANGE
Cash From Operating Activities 147.3M 302.2M
Cash From Investing Activities -20.31M -29.10M
Cash From Financing Activities -153.5M -42.40M
Net Change In Cash -26.53M 230.7M
YoY Change -111.5% -574.69%
FREE CASH FLOW
Cash From Operating Activities $147.3M $302.2M
Capital Expenditures -$43.21M -$55.80M
Free Cash Flow $190.5M $358.0M
YoY Change -46.8% 131.42%

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ProceedsFromDivestitureOfBusinesses
362803000
nxst Other Investing Activities Net
OtherInvestingActivitiesNet
701000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
60245000
nxst Payments For Finance Lease And Capitalized Software Obligations
PaymentsForFinanceLeaseAndCapitalizedSoftwareObligations
9581000
nxst Payments For Finance Lease And Capitalized Software Obligations
PaymentsForFinanceLeaseAndCapitalizedSoftwareObligations
6301000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3387000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
656000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
451000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
138000
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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160568000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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432556000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
169309000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
329877000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
681234000
us-gaap Interest Paid Net
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141078000
us-gaap Interest Paid Net
InterestPaidNet
171348000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
172820000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
7686000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
8124000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
26296000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
15885000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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33655000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
21852000
us-gaap Nature Of Operations
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<p id="NOTE_1_ORGANIZATION_BUSINESS_OPERATIONS" style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Note 1:  Organization and Business Operations</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As used in this Quarterly Report on Form 10-Q, “Nexstar” refers to Nexstar Media Group, Inc., a Delaware corporation, and its consolidated wholly owned subsidiary, Nexstar Media Inc. (formerly known as Nexstar Inc. and Nexstar Broadcasting, Inc.), a Delaware corporation; the “Company” refers to Nexstar and the variable interest entities (“VIEs”) required to be consolidated in our financial statements; and all references to “we,” “our,” “ours,” and “us” refer to Nexstar.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On April 16, 2021, Nexstar Inc. filed a Certificate of Amendment with the Secretary of State of Delaware to change its name to Nexstar Media Inc.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Nexstar is a television broadcasting and digital media company focused on the acquisition, development and operation of television stations, interactive community websites and digital media services.<span style="font-size:12pt;"> </span>As of June 30, 2021, we owned, operated, programmed or provided sales and other services to 199 full power television stations, including 37 full power television stations owned by consolidated 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 June 30, 2021, the stations reached approximately 39% of all U.S. television households (after applying the Federal Communications Commission’s (“FCC”) ultra-high frequency (“UHF”) discount). Through various local service agreements, we provide sales, programming, and other services to television stations independently owned by third parties. Nexstar also owns NewsNation (formerly WGN America), a live daily national newscast and a national general entertainment cable network, 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>
CY2021Q2 nxst Number Of Full Power Television Stations Owned Operated Programmed Or Provided Sales And Other Services
NumberOfFullPowerTelevisionStationsOwnedOperatedProgrammedOrProvidedSalesAndOtherServices
199
CY2021Q2 nxst Number Of Full Power Television Stations Owned Or Operated By Independent Third Parties
NumberOfFullPowerTelevisionStationsOwnedOrOperatedByIndependentThirdParties
37
CY2021Q2 nxst Number Of States
NumberOfStates
39
CY2021Q2 nxst Percentage Of Us Television Household Reach
PercentageOfUSTelevisionHouseholdReach
0.39
CY2021Q2 nxst Number Of Am Radio Station
NumberOfAMRadioStation
1
CY2021Q2 nxst Number Of Television Markets
NumberOfTelevisionMarkets
116
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:2.26%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Interim Financial Statements </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Condensed Consolidated Financial Statements as of June 30, 2021 and for the three and six months ended June 30, 2021 and 2020 are unaudited. However, in the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the period. Results of operations for interim periods are not necessarily indicative of results for the full year. Estimates are used for, <span style="color:#000000;">but are not limited 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, the recoverability of investments, the recoverability of broadcast rights and the useful lives of property and equipment and intangible assets. </span>As of June 30, 2021, 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 condensed consolidated financial statements.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related Notes included in Nexstar’s Annual Report on Form 10-K for the year ended December 31, 2020. The balance sheet as of December 31, 2020 has been derived from the audited financial statements as of that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.</p>
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42948000
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1782000
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1582000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1953000
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44386000
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46849000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44901000
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Prior Period Reclassification Adjustment Description
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:2.27%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Basis of Presentation </p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;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. These reclassifications had no effect on net income or stockholders’ equity as previously reported.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;"> </p>
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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us-gaap Gain Loss On Sale Of Business
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CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2020Q4 us-gaap Finite Lived Intangible Assets Net
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FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
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CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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283663000
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FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
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FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
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CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
275710000
nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Acquisitions Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodAcquisitionsGross
1000000
nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Acquisitions Net
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodAcquisitionsNet
1000000
nxst Goodwill During Period Divestitures Gross
GoodwillDuringPeriodDivestituresGross
42475000
nxst Goodwill Divestitures And Disposal Accumulated Impairment Loss
GoodwillDivestituresAndDisposalAccumulatedImpairmentLoss
42475000
nxst Goodwill Purchase Accounting Adjustments Gross
GoodwillPurchaseAccountingAdjustmentsGross
-1483000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
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nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Measurement Period Gross
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodMeasurementPeriodGross
-753000
nxst Indefinite Lived Intangible Assets Excluding Goodwill During Period Measurement Net
IndefiniteLivedIntangibleAssetsExcludingGoodwillDuringPeriodMeasurementNet
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CY2021Q1 us-gaap Goodwill Gross
GoodwillGross
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CY2021Q2 us-gaap Other Long Term Investments
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CY2020Q4 us-gaap Other Long Term Investments
OtherLongTermInvestments
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CY2021Q2 us-gaap Long Term Investments
LongTermInvestments
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CY2020Q4 us-gaap Long Term Investments
LongTermInvestments
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CY2021Q2 us-gaap Equity Method Investments
EquityMethodInvestments
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CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1321715000
CY2021Q2 nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
64056000
CY2020Q2 nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
48272000
nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
130803000
nxst Income Loss From Equity Method Investments Net Before Amortization Of Basis Difference
IncomeLossFromEquityMethodInvestmentsNetBeforeAmortizationOfBasisDifference
99369000
CY2021Q2 nxst Equity Method Investments Amortization Of Basis Difference
EquityMethodInvestmentsAmortizationOfBasisDifference
36940000
CY2020Q2 nxst Equity Method Investments Amortization Of Basis Difference
EquityMethodInvestmentsAmortizationOfBasisDifference
36940000
nxst Equity Method Investments Amortization Of Basis Difference
EquityMethodInvestmentsAmortizationOfBasisDifference
73879000
nxst Equity Method Investments Amortization Of Basis Difference
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73879000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
27116000
CY2020Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
11332000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
56924000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
25490000
CY2021Q2 nxst Equity Method Investment Difference Between Carrying Amount And Underlying Equity Remaining Identifiable Assets Subject To Amortization
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityRemainingIdentifiableAssetsSubjectToAmortization
587700000
CY2020Q4 nxst Equity Method Investment Difference Between Carrying Amount And Underlying Equity Remaining Identifiable Assets Subject To Amortization
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquityRemainingIdentifiableAssetsSubjectToAmortization
661300000
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EmployeeRelatedLiabilitiesCurrent
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EmployeeRelatedLiabilitiesCurrent
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319413000
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CY2019Q3 nxst Percentage Of Defined Benefit Plan Not Frozen In Overall Projected Benefit Obligation
PercentageOfDefinedBenefitPlanNotFrozenInOverallProjectedBenefitObligation
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Payments
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us-gaap Operating Lease Payments
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us-gaap Finance Lease Interest Payment On Liability
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us-gaap Finance Lease Interest Payment On Liability
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
434000
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25636000
CY2021Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2021Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
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CY2021Q2 nxst Lessee Operating Lease Liability Payments Due After Year Four
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CY2021Q2 nxst Finance Lease Liability Payments Due After Year Four
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CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q2 us-gaap Finance Lease Liability Payments Due
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FinanceLeaseLiabilityUndiscountedExcessAmount
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CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2021Q2 us-gaap Amortization Of Intangible Assets
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CY2021Q2 us-gaap Operating Income Loss
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CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
130500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
101800000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.246
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.285
CY2020 nxst Income Tax Reconciliation Nondeductible Expense Goodwill
IncomeTaxReconciliationNondeductibleExpenseGoodwill
8100000
nxst Effective Income Tax Rate Reconciliation Nondeductible Expense Goodwill
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseGoodwill
0.023
nxst Income Tax Reconciliation Nondeductible Expense Audit Settlements
IncomeTaxReconciliationNondeductibleExpenseAuditSettlements
6500000
nxst Effective Income Tax Rate Reconciliation Nondeductible Expense Audit Settlements
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseAuditSettlements
0.012
CY2021Q2 nxst Number Of Voices Test Local Television Ownership
NumberOfVoicesTestLocalTelevisionOwnership
8
CY2021Q2 nxst Number Of Voices Test Local Television Ownership
NumberOfVoicesTestLocalTelevisionOwnership
8
CY2021Q2 nxst Maximum Percentage Of Us Television Household Reach
MaximumPercentageOfUSTelevisionHouseholdReach
0.39
CY2021Q2 nxst Percentage Of Discount On Ultra High Frequency On Audience Reach Per Market
PercentageOfDiscountOnUltraHighFrequencyOnAudienceReachPerMarket
0.50
nxst Date The Ultra High Frequency Discount Was Abolished
DateTheUltraHighFrequencyDiscountWasAbolished
2016-08-24
nxst Effective Date Of Reinstating The Ultra High Frequency Discount
EffectiveDateOfReinstatingTheUltraHighFrequencyDiscount
2017-06-15
CY2017 nxst Number Of Stations Went Off The Air
NumberOfStationsWentOffTheAir
1
CY2018Q4 nxst Number Of Ceased Broadcasting Channels
NumberOfCeasedBroadcastingChannels
8
CY2018Q4 nxst Spectrum Asset And Liability Surrender Value
SpectrumAssetAndLiabilitySurrenderValue
314100000
CY2019Q4 nxst Number Of Stations To Move To Very High Frequency Channels
NumberOfStationsToMoveToVeryHighFrequencyChannels
1
nxst Maximum Amount Of Reimbursement For Repack Cost
MaximumAmountOfReimbursementForRepackCost
2750000000
CY2021Q2 nxst Excess Amount Of Reimbursement For Repack Cost
ExcessAmountOfReimbursementForRepackCost
2216000000
CY2021Q1 nxst Number Of Stations To Convert From Interim To Permanent Facility
NumberOfStationsToConvertFromInterimToPermanentFacility
1
CY2021Q2 nxst Capital Expenditures Related To Station Repack
CapitalExpendituresRelatedToStationRepack
1000000.0
nxst Capital Expenditures Related To Station Repack
CapitalExpendituresRelatedToStationRepack
5400000
CY2020Q2 nxst Capital Expenditures Related To Station Repack
CapitalExpendituresRelatedToStationRepack
13000000.0
nxst Capital Expenditures Related To Station Repack
CapitalExpendituresRelatedToStationRepack
29900000
CY2021Q2 nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
6900000
nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
12300000
CY2020Q2 nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
25700000
nxst Reimbursement From Fcc Related To Station Repack
ReimbursementFromFCCRelatedToStationRepack
38500000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1131590000
CY2021Q2 us-gaap Depreciation
Depreciation
39904000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2245521000
us-gaap Depreciation
Depreciation
79372000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
147499000
us-gaap Operating Income Loss
OperatingIncomeLoss
573248000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
914633000
CY2020Q2 us-gaap Depreciation
Depreciation
35770000
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
69512000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
196253000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2006455000
us-gaap Depreciation
Depreciation
71176000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
140095000
us-gaap Operating Income Loss
OperatingIncomeLoss
501268000
CY2021Q2 us-gaap Goodwill
Goodwill
2982525000
CY2021Q2 us-gaap Assets
Assets
13287637000
CY2020Q4 us-gaap Goodwill
Goodwill
2984008000
CY2020Q4 us-gaap Assets
Assets
13404276000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1131590000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2245521000
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
914633000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2006455000

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