NEXSTAR MEDIA GROUP, INC. NXST Cash Flow

Nexstar media group, inc. (NXST)

CashFlow / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Cash flows from operating activities:
Net income
236,295	388,265	475,327	93,100	76,383	64,550	-1,785	182,492	-11,891	-1,815	-12,614
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets
200,317	149,406	159,500	46,572	48,475	25,850	30,148	22,994	25,979	23,732	23,705
Depreciation of property and equipment
123,375	109,789	100,658	51,300	47,222	35,047	33,578	23,555	21,845	21,112	21,680
Payment-in-kind interest accrued to debt
-	-	-	-	-	-	-	-	-	896	5,201
Gain on disposal of station
-	-	-	-	-	-	-	5,139	0	0	-
Deferred gain recognition
-	-	-	-	-	436	436	437	436	437	436
Goodwill and intangible assets impairment
63,317	19,911	19,985	15,262	-	-	-	-	-	-	16,164
Amortization of broadcast rights, excluding barter
85,018	61,342	62,908	22,461	22,154	11,634	12,613	8,591	9,947	9,527	13,248
Stock-based compensation expense
38,600	31,300	24,100	11,400	11,400	7,598	2,080	1,362	1,162	2,827	1,494
Provision for bad debt
12,972	10,707	10,263	3,057	3,180	2,310	2,697	2,390	2,376	2,805	1,159
Amortization of debt financing costs, debt discounts and premium
11,577	9,765	10,483	5,649	3,752	2,792	3,280	1,610	1,715	2,119	1,483
Gain on asset exchange
-	-	-	-	-	-	-	-	-	-	8,093
Amortization of debt discount (premium), net
-	-	-	-	-	-	-	1,329	1,741	9,771	7,033
Loss on extinguishment of debt
-10,301	-12,120	-34,882	-	-	-71	-34,724	-3,272	-1,155	-8,356	18,567
Gain on asset disposal, net
-3,985	-5,793	-1,734	-1,553	-2,109	-638	-1,280	-468	-461	-264	2,560
Deferred income taxes
4,545	-12,403	463,185	-54,591	-43,675	-43,491	2,667	-132,618	5,218	6,260	-216
Gain on disposal of stations and entities, net
96,091	-	57,716	-	-	-	-	-	-	-	-
Spectrum repack reimbursements
70,356	29,381	-	-	-	-	-	-	-	-	-
Payments for broadcast rights
100,630	61,979	62,531	23,004	22,473	12,025	14,191	9,169	10,149	9,870	9,315
(Income) loss on equity investments, net
17,925	-2,436	-1,268	-	-	-	-	-	-	-	-
Distribution from equity investments - return on capital
15,256	-	-	-	-	-	-	-	-	-	-
Other noncash operating activities, net
-53	2,432	3,491	-	-	-	-	-	-	-	-
Other noncash credits, net
-	-	-	1,612	90	-	-	-	-	-	-
Amortization of deferred representation fee incentive
-	-	-	-	-	845	820	769	-618	620	611
Non-cash representation contract termination fee
-	-	-	-	-	353	-	-	-	-	-
PIK interest paid upon debt extinguishment
-	-	-	-	-	-	-	-	-	7,047	0
Issue discount paid upon debt extinguishment
-	-	-	-	-	-	8,161	15,625	3,341	3,242	0
Premium on debt extinguishment
-	-	-	-	-	-	28,364	344	254	1,430	0
Excess tax benefit from stock option exercises
-	-	-	-	-	10,034	-	736	0	-	-
Payment for contingent consideration in connection with an acquisition
-	-	-4,044	4,044	-	-	-	-	-	-	-
Changes in operating assets and liabilities, net of acquisitions and dispositions:
Non-cash contract termination
-	-	-	-	-	-	-	-	-	-	191
Accounts receivable
-2,176	-30,874	56,669	27,290	30,310	10,378	38,114	5,348	8,177	3,446	10,420
Prepaid expenses and other current assets
-9,344	-97	-1,169	6,972	1,324	-1,321	3,177	348	-625	141	542
Other noncurrent assets
5,250	834	752	-244	-293	-333	-97	1,690	-781	-11	-279
Accounts payable
49,903	16,520	-62,496	-	-	-	-	-	-	-	-
Accrued expenses and other current liabilities
40,540	-53,708	-17,421	-	-	-	-	-	-	-	-
Accounts payable, accrued expenses and other current liabilities
-	-	-	1,628	16,903	6,182	5,625	6,680	1,845	-130	-764
Income tax payable
-172,669	41,635	-42,638	-75	-22,790	-1,789	-33	-	-	73	-131
Interest payable
-	-	-	33,251	6,338	-60	-4,042	-2,165	1,619	4,645	-3,966
Deferred revenue
-	-	-	-	-	-	-	-	-1,068	-4,030	943
Other liabilities of consolidated variable interest entities
-	-	-	-	-	-	-	428	679	-547	-1,544
Other noncurrent liabilities
-18,116	-17,122	-22,211	-896	411	-76	-2,327	-895	-874	-375	192
Net cash provided by operating activities
417,467	736,867	109,091	284,253	205,308	166,527	27,339	79,888	40,340	59,268	22,993
Cash flows from investing activities:
Purchases of property and equipment
197,511	106,246	72,461	31,870	29,021	20,389	18,955	17,260	13,349	13,799	19,028
Proceeds from sale of assets
-	-	-	-	-	-	-	-	-	-	190
Proceeds from insurance on casualty loss
-	-	-	-	-	-	-	-	-	-	4,004
Payments for acquisitions, net of cash acquired
5,881,179	103,976	2,975,254	103,970	475,949	209,733	229,382	235,453	41,352	0	20,756
Proceeds from sale of stations and entities
1,352,958	-	481,946	-	27,005	-	-	13,860	0	0	-
Spectrum repack reimbursements from the FCC
70,356	29,381	-	-	-	-	-	-	-	-	-
Investment in a loan receivable
48,876	-	-	-	-	-	-	-	-	-	-
Proceeds received to relinquish spectrum asset
-	-	478,608	-	-	-	-	-	-	-	-
Proceeds from disposals of property and equipment
4,451	4,344	20,026	718	3,624	89	219	236	122	459	-
Distribution from an equity investment - return of capital
2,205	-	-	-	-	-	-	-	-	-	-
Deconsolidation of the cash of Marshall
5,011	-	-	-	-	-	-	-	-	-	-
Other investing activities, net
452	983	850	-	-	-	-	-	-	-	-
Net cash provided by (used in) investing activities
-4,702,155	-175,514	-2,066,285	-135,122	-474,341	-230,033	-248,118	-238,617	-54,579	-13,340	-35,590
Proceeds from long-term debt, including debt premium and discounts
5,523,481	251,387	3,533,981	958,000	421,950	237,275	654,563	608,750	97,100	316,839	54,000
Repayments of long-term debt
902,217	653,011	1,922,329	80,140	166,290	72,431	438,835	377,806	98,507	-	21,446
Payments for debt financing costs
72,052	1,056	52,039	20,707	3,225	1,607	7,210	13,238	533	4,406	5,375
Premium paid on debt extinguishment
10,094	-	18,050	-	-	-	-	-	-	-	-
Excess tax benefit from stock option exercises
-	-	-	-	-	10,034	-	736	0	0	-
Common stock dividends paid
82,823	68,629	55,892	29,445	23,686	18,445	14,302	-	0	-	-
Cash paid for shares withheld for taxes
9,813	4,938	4,099	-	-	-	-	-	-	-	-
Purchase of noncontrolling interests
6,393	2,468	66,901	100	-	-	-	-	-	-	-
Payments for contingent consideration in connection with acquisitions
-	-	259,603	2,000	-	-	-	-	-	-	-
Proceeds from exercise of stock options
2,403	5,970	8,155	1,225	3,357	2,031	6,959	1,768	67	86	13
Payments for capital lease and capitalized software obligations
9,175	8,847	7,095	3,258	-	-	-	-	-	-	-
Contributions from a noncontrolling interest
-	-	-	-643	100	-	-	-	-	-	-
Purchase of treasury stock
45,115	50,524	99,008	-	48,660	-	8,422	-	0	-	-
Other financing activities, net
49	226	247	-	-	-	-	-	-	-	-
Payments for capital lease obligations
-	-	-	-	3,009	1,467	945	28	0	344,811	-
Consideration paid for debt extinguishments
-	-	-	-	-	-	-	-	-	2,730	17,677
Net cash used in financing activities
4,388,251	-531,890	1,057,367	822,932	180,537	155,390	191,808	220,182	-1,873	-35,022	9,515
Net increase (decrease) in cash, cash equivalents and restricted cash
103,563	29,463	-899,827	972,063	-88,496	91,884	-28,971	61,453	-16,112	10,906	-3,082
Supplemental information:
Interest paid
250,663	218,746	239,558	78,261	70,430	59,227	75,074	66,360	51,088	46,928	-29,215
Income taxes paid, net of refunds
315,051	90,717	272,689	29,391	29,060	3,131	2,129	1,597	474	397	-523
Non-cash investing and financing activities:
Accrued purchases of property and equipment
25,705	19,364	4,107	2,339	2,371	3,767	1,763	1,263	1,674	950	-793
Noncash purchases of property and equipment
-	565	20,723	706	4,025	7,023	3,683	451	484	635	0
Right-of-use assets obtained in exchange for operating lease obligations
125,496	-	-	-	-	-	-	-	-	-	-
Consolidation of variable interest entities
-	6,500	-	108,694	2,956	-	-	-	-	-	-
Accrued debt financing costs
-	-	-	-	-	-	-	-	-	0	0
Debt assumed in connection with a merger
-	-	434,269	-	-	-	-	-	-	-	-
Issuance/reissuance of stock in connection with a merger
-	-	1,031,443	-	-	-	-	-	2,423	-	-
Stock option replacement awards in connection with a merger
-	-	10,702	-	-	-	-	-	-	-	-
Relinquishment of spectrum asset and derecognition of liability to surrender spectrum asset
52,002	314,086	34,558	-	-	-	-	-	-	-	-
Contingent consideration payable in connection with a merger
-	-	12,361	-	-	-	-	-	-	-	-
Station acquisition through issuance of Class A common stock
-	-	-	-	-	-	-	-	-	0	0