Nexstar media group, inc. (NXST)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11
Cash flows from operating activities:
Net income

337,102

236,295

276,934

381,940

397,811

388,265

613,631

555,875

517,724

475,327

115,882

99,426

75,770

93,100

100,105

91,644

86,745

76,383

79,816

78,065

69,109

64,550

21,249

9,440

4,863

-1,785

171,764

177,730

180,181

182,492

24,659

8,839

-2,563

-11,891

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets

234,162

200,317

154,304

149,018

149,842

149,406

149,439

146,268

147,644

159,500

132,370

109,889

82,651

46,572

47,730

47,576

47,494

48,475

42,801

37,842

32,717

25,850

25,945

27,549

28,351

30,148

29,299

26,783

25,380

22,994

22,163

23,896

25,744

25,979

0

0

0

Depreciation of property and equipment

131,344

123,375

116,102

114,412

111,412

109,789

104,738

103,044

104,246

100,658

87,623

74,521

60,968

51,300

50,146

50,345

48,908

47,222

44,497

40,259

37,500

35,047

34,587

34,347

34,017

33,578

30,987

28,285

25,787

23,555

23,151

22,873

22,363

21,845

0

0

0

Payment-in-kind interest accrued to debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Deferred gain recognition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

436

-

436

437

436

436

436

436

436

436

437

437

437

437

436

436

436

436

0

0

0

Amortization of broadcast rights, excluding barter

107,864

85,018

61,057

57,626

59,604

61,342

62,843

64,924

64,772

62,908

52,485

40,601

31,060

22,461

22,932

23,654

22,629

22,154

19,027

16,260

13,836

11,634

11,972

12,064

12,604

12,613

11,647

10,698

9,449

8,591

8,774

9,711

9,808

9,947

0

0

0

Stock-based compensation expense

41,216

38,600

37,523

34,465

32,969

31,300

29,395

27,386

25,690

24,100

19,910

16,620

13,076

11,400

11,887

11,827

11,676

11,400

10,629

9,704

8,813

7,598

5,984

4,642

3,228

2,080

2,217

1,928

1,640

1,362

1,024

1,017

1,094

1,162

0

0

0

Provision for bad debt

12,245

12,972

10,525

8,548

9,958

10,707

12,412

12,526

12,015

10,263

6,959

5,744

3,926

3,057

3,666

3,254

3,400

3,180

2,315

2,004

1,748

2,310

3,136

3,452

3,315

2,697

2,262

2,265

2,166

2,390

2,307

2,217

2,154

2,376

0

0

0

Amortization of debt financing costs, debt discounts and premium

14,271

11,577

8,694

8,396

9,081

9,765

10,337

10,562

10,419

10,483

10,064

8,906

7,393

5,649

4,390

3,836

3,813

3,752

3,515

3,336

3,030

2,792

3,731

3,530

3,421

3,280

1,954

1,792

1,691

1,610

1,661

1,687

1,690

1,715

0

0

0

Amortization of debt discount (premium), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

1,314

1,297

1,302

1,329

1,360

1,371

1,377

1,741

0

0

0

Loss on extinguishment of debt

-16,080

-10,301

-11,199

-14,358

-12,813

-12,120

-5,179

-3,241

-4,083

-34,882

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,155

0

0

0

Gain on asset disposal, net

0

-

-

-

-

-5,793

-59,070

-59,938

-59,297

-1,734

54,149

56,773

55,972

-1,553

-669

-913

-1,210

-2,109

-1,421

-1,419

-1,455

-638

-1,384

-1,424

-1,258

-1,280

-528

-491

-494

-468

-416

-338

-434

-461

0

0

0

Deferred income taxes

19,865

4,545

14,591

-12,994

-14,528

-12,403

461,545

272,178

446,434

463,185

-34,896

149,957

-31,209

-54,591

-47,312

-46,370

-45,351

-43,675

-91,375

-71,853

-53,126

-43,491

14,935

10,000

6,868

2,667

-127,822

-130,774

-133,740

-132,618

5,611

5,527

5,359

5,218

0

0

0

Gain on disposal of stations and entities, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Spectrum repack reimbursements

68,927

70,356

70,951

55,923

42,204

29,381

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for broadcast rights

137,924

100,630

61,477

57,492

60,219

61,979

63,813

65,839

65,445

62,531

52,132

40,645

30,081

23,004

23,435

23,526

23,460

22,473

19,197

16,732

14,147

12,025

12,268

12,890

13,640

14,191

13,519

12,035

10,556

9,169

8,822

9,903

9,984

10,149

0

0

0

(Income) loss on equity investments, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distribution from equity investments - return on capital

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other noncash operating activities, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other noncash credits, net

-

-

-

-

-

-

0

0

3,464

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of deferred representation fee incentive

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1,191

-

1,056

985

904

845

830

1,640

1,230

820

820

-1

409

769

-518

-567

-618

-618

0

0

0

Non-cash representation contract termination fee

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

PIK interest paid upon debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Issue discount paid upon debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,341

0

0

0

Premium on debt extinguishment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

254

0

0

0

Excess tax benefit from stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,182

13,114

11,446

10,034

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

Payment for contingent consideration in connection with an acquisition

-

-

-

-

-

-

-

-

-

-4,044

4,605

5,997

7,684

4,044

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities, net of acquisitions and dispositions:
Accounts receivable

9,276

-2,176

-56,355

25,735

7,891

-30,874

20,441

12,735

20,993

56,669

11,521

-130

13,140

27,290

41,522

37,511

38,121

30,310

23,337

21,217

13,402

10,378

8,379

4,078

15,942

38,114

36,142

39,546

29,903

5,348

7,135

7,672

6,162

8,177

0

0

0

Prepaid expenses and other current assets

-8,925

-9,344

1,495

1,752

75

-97

2,663

7,849

9,177

-1,169

-20,666

-10,892

-1,248

6,972

19,709

11,115

1,893

1,324

1,156

-4,246

-1,589

-1,321

-267

3,766

2,663

3,177

2,638

801

-233

348

501

-15

-3,010

-625

0

0

0

Other noncurrent assets

7,284

5,250

2,895

1,765

-2,981

834

1,511

811

468

752

-1,616

590

1,688

-244

200

-348

-318

-293

-433

-300

-297

-333

-315

-236

-194

-97

1,744

1,761

1,755

1,690

-874

-883

-843

-781

0

0

0

Accounts payable

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued expenses and other current liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable, accrued expenses and other current liabilities

-

-

-

-

-

-

-

0

11,661

-

-42,303

-33,766

-53,126

1,628

21,040

26,460

16,168

16,903

10,704

-7,339

-1,127

6,182

7,941

11,029

7,377

5,625

10,728

11,101

8,893

6,680

89

1,832

-836

1,845

0

0

0

Income tax payable

-110,168

-172,669

56,945

13,747

35,337

41,635

149,402

-184,436

-23,147

-42,638

-178,555

154,089

-1,165

-75

-2,139

-7,564

-18,166

-22,790

-22,418

-16,818

-6,408

-1,789

0

0

0

-

-

-

-

-

-

0

0

-

0

0

0

Interest payable

-

-

-

-

-

-

-

0

4,800

-

-9,292

10,803

-4,223

33,251

8,985

-691

-779

6,338

1,827

6,869

3,019

-60

-5,540

-3,434

-7,366

-4,042

4,497

-1,519

5,517

-2,165

-625

-991

-2,254

1,619

0

0

0

Deferred revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

697

80

-102

-1,068

0

0

0

Other liabilities of consolidated variable interest entities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

838

1,096

1,042

428

0

0

0

-

-

0

0

Other noncurrent liabilities

-33,810

-18,116

-10,823

-10,694

-16,047

-17,122

-27,777

-24,037

-20,487

-22,211

-6,131

-8,325

-8,096

-896

-529

13

1,581

411

188

483

148

-76

-1,980

-2,267

-3,917

-2,327

-1,025

-1,508

729

-895

-916

-383

-842

-874

0

0

0

Net cash provided by operating activities

707,996

417,467

565,635

656,193

682,091

736,867

533,141

315,316

336,241

109,091

170,995

285,717

184,813

284,253

241,075

234,100

207,337

205,308

186,540

173,700

171,422

166,527

104,035

88,957

58,965

27,339

55,105

49,293

66,951

79,888

74,103

60,517

48,676

40,340

0

0

0

Cash flows from investing activities:
Purchases of property and equipment

229,066

197,511

152,885

141,324

113,733

106,246

87,201

81,160

79,639

72,461

55,074

44,526

38,043

31,870

33,381

30,683

30,361

29,021

27,767

24,697

22,807

20,389

18,459

18,008

16,152

18,955

20,636

20,074

19,970

17,260

13,531

13,595

13,257

13,349

0

0

0

Payments for acquisitions, net of cash acquired

0

-

-

-

-

-

-

89,927

86,850

2,975,254

2,971,194

2,971,195

2,971,193

103,970

118,241

120,227

119,941

475,949

586,113

584,126

647,655

209,733

93,850

160,060

130,325

229,382

427,729

390,073

356,567

235,453

0

0

0

-

-

-

-

Proceeds from sale of stations and entities

0

-

-

-

-

-

-

-

-

481,946

0

0

0

-

-

-

-

27,005

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Spectrum repack reimbursements from the FCC

68,927

70,356

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposals of property and equipment

4,293

4,451

2,088

1,319

2,085

4,344

7,859

9,325

22,469

20,026

16,582

14,958

962

718

2,003

1,820

2,907

3,624

2,213

2,195

952

89

250

216

227

219

248

238

209

236

67

126

137

122

0

0

0

Proceeds from resolution of acquired contingency

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities, net

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided by (used in) investing activities

-4,337,373

-4,702,155

-4,608,379

-101,435

-88,232

-175,514

-173,368

324,893

335,440

-2,066,285

-2,048,300

-2,518,566

-2,526,330

-135,122

-149,419

-148,890

-147,195

-474,341

-584,862

-579,823

-642,705

-230,033

-112,059

-177,852

-146,250

-248,118

-434,257

-396,049

-362,468

-238,617

-62,306

-53,821

-54,472

-54,579

0

0

0

Proceeds from long-term debt, including debt premium and discounts

-

-

-

-

-

251,387

101,387

547,879

496,120

3,533,981

4,433,981

3,981,861

3,981,861

958,000

63,000

68,000

68,000

421,950

0

0

0

-

-

-

-

654,563

762,125

740,125

672,750

608,750

98,300

84,600

103,100

97,100

0

0

0

Repayments of long-term debt

1,267,740

902,217

540,935

679,703

670,237

653,011

358,068

708,447

676,109

1,922,329

1,898,775

1,422,862

1,380,042

80,140

87,887

66,538

83,047

166,290

215,206

212,496

172,961

72,431

376,665

413,723

442,445

438,835

0

0

0

-

-

-

-

98,507

0

0

0

Payments for debt financing costs

0

-

-

-

-

-

-

-

-

52,039

0

0

0

-

-

-

-

3,225

4,475

4,475

4,450

1,607

5,349

5,798

6,597

7,210

15,205

15,007

13,928

13,238

0

0

0

-

-

-

-

Premium paid on debt extinguishment

-

-

-

-

-

-

-

-

-

18,050

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Excess tax benefit from stock option exercises

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,182

13,114

11,446

10,034

0

0

0

-

10,522

7,596

1,925

736

0

0

0

-

-

-

-

Common stock dividends paid

87,918

82,823

79,167

75,505

71,922

68,629

65,284

62,067

59,074

55,892

49,499

42,997

36,196

29,445

27,894

26,537

25,120

23,686

22,503

21,130

19,778

18,445

17,460

16,425

15,361

14,302

0

0

0

-

0

0

0

-

-

-

-

Cash paid for shares withheld for taxes

7,020

9,813

9,899

10,035

9,671

4,938

4,920

4,783

4,784

4,099

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of noncontrolling interests

-

6,393

0

0

0

-

-

-

-

66,901

66,901

66,901

66,901

100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for contingent consideration in connection with acquisitions

-

-

-

-

-

-

-

-

-

259,603

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from exercise of stock options

1,344

2,403

2,535

5,394

5,519

5,970

9,476

6,911

7,192

8,155

0

0

0

-

-

-

-

3,357

4,067

4,031

3,389

2,031

2,088

3,935

5,611

6,959

6,923

5,517

2,944

1,768

1,007

559

346

67

0

0

0

Payments for capital lease and capitalized software obligations

10,235

9,175

7,840

8,299

8,844

8,847

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from a noncontrolling interest

-

-

-

-

-

-

-

0

716

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchase of treasury stock

0

-

-

-

-

50,524

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other financing activities, net

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments for capital lease obligations

-

-

-

-

-

-

-

-

-

-

0

0

3,386

-

3,453

3,456

2,979

3,009

2,790

2,530

1,584

1,467

1,139

1,106

1,194

945

770

-67,832

-23,937

28

0

0

0

-

-

-

-

Net cash used in financing activities

3,951,461

4,388,251

4,258,350

-622,515

-574,389

-531,890

-377,151

-578,430

-635,452

1,057,367

1,983,850

2,291,569

2,401,588

822,932

-85,756

-84,919

-91,905

180,537

353,002

400,901

465,287

155,390

52,081

75,383

115,240

191,808

391,535

379,903

306,293

220,182

-7,375

-6,751

-3,171

-1,873

0

0

0

Net increase (decrease) in cash, cash equivalents and restricted cash

322,084

103,563

215,606

-67,757

19,470

29,463

-17,378

61,779

36,229

-899,827

106,545

58,720

60,071

972,063

5,900

291

-31,763

-88,496

-45,320

-5,222

-5,996

91,884

44,057

-13,512

27,955

-28,971

12,383

33,147

10,776

61,453

4,422

-55

-8,967

-16,112

0

0

0

Supplemental information:
Interest paid

317,340

250,663

226,838

211,975

215,263

218,746

209,473

200,911

201,328

239,558

211,025

182,568

164,000

78,261

92,382

78,923

78,846

70,430

70,658

61,009

60,077

59,227

72,901

71,941

77,251

75,074

70,568

72,301

62,222

66,360

49,573

50,483

63,111

51,088

0

0

0

Income taxes paid, net of refunds

315,278

315,051

100,262

110,355

93,825

90,717

110,514

253,498

267,859

272,689

223,243

57,681

27,018

29,391

33,028

35,100

29,113

29,060

24,292

19,332

9,009

3,131

2,262

1,447

1,277

2,129

3,218

3,198

2,453

1,597

497

497

561

474

0

0

0

Non-cash investing and financing activities:
Accrued purchases of property and equipment

25,933

25,705

28,839

28,075

43,080

19,364

20,721

15,158

5,749

4,107

3,280

3,503

3,464

2,339

1,363

3,170

2,363

2,371

3,420

3,229

4,122

3,767

1,714

2,871

1,070

1,763

1,773

915

1,841

1,263

2,153

1,671

3,221

1,674

0

0

0

Noncash purchases of property and equipment

-

-

-

-

-

-

-

-

-

20,723

19,027

9,934

683

706

899

1,177

2,791

4,025

9,554

9,619

8,285

7,023

2,326

1,983

1,142

3,683

0

0

0

-

-

-

-

484

0

0

0

Right-of-use assets obtained in exchange for operating lease obligations

27,875

125,496

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued debt financing costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

Debt assumed in connection with a merger

-

-

-

-

-

-

-

-

-

434,269

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Issuance/reissuance of stock in connection with a merger

-

-

-

-

-

-

-

-

-

1,031,443

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock option replacement awards in connection with a merger

-

-

-

-

-

-

-

-

-

10,702

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contingent consideration payable in connection with a merger

-

-

-

-

-

-

-

-

-

12,361

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-