Nexstar media group, inc. (NXST)
Income statement / Quarterly
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'11Sep'10Jun'10
Net revenue

1,091,822

1,100,090

663,575

649,012

626,647

798,022

693,015

660,323

615,336

653,664

611,870

626,115

540,317

309,879

275,659

261,994

255,658

252,262

223,031

219,349

201,735

192,804

157,744

146,930

133,833

138,122

125,792

126,211

112,205

116,174

89,952

88,864

83,642

86,202

74,839

75,505

69,945

73,126

74,542

Operating expenses (income):
Direct operating expenses, excluding depreciation and amortization

445,059

437,398

322,327

296,044

292,863

279,152

285,363

274,439

278,963

264,410

257,656

252,610

218,729

98,195

100,744

92,935

90,123

82,639

78,551

73,038

68,029

51,931

48,395

45,257

41,849

39,876

37,270

36,461

34,104

25,834

21,950

21,852

22,128

22,023

20,826

19,705

19,103

19,669

19,580

Selling, general and administrative expenses, excluding depreciation and amortization

218,384

260,480

183,083

144,058

142,360

158,828

140,297

138,903

141,905

140,268

140,464

147,441

176,933

66,067

63,602

65,772

68,165

62,208

56,426

56,557

57,289

46,941

43,652

43,796

41,040

41,561

37,587

37,565

35,500

35,770

27,506

27,131

27,128

28,854

26,346

24,955

25,012

23,986

24,754

Amortization of broadcast rights

37,208

38,269

18,452

13,935

14,362

14,308

15,021

15,913

16,100

27,381

27,869

25,686

24,467

13,085

14,034

15,222

14,804

15,270

15,312

14,673

14,581

8,633

8,771

8,280

8,632

8,572

9,188

8,866

8,813

6,108

5,563

5,192

5,548

5,890

6,650

5,262

5,587

5,421

4,996

Amortization of intangible assets

70,583

84,779

42,443

36,357

36,738

38,766

37,157

37,181

36,302

38,799

33,986

38,557

48,158

11,669

11,505

11,319

12,079

12,827

11,351

11,237

13,060

7,153

6,392

6,112

6,193

7,248

7,996

6,914

7,990

6,399

5,480

5,511

5,604

5,568

7,213

7,359

5,839

5,932

5,987

Depreciation

35,406

38,485

29,363

28,090

27,437

31,212

27,673

25,090

25,814

26,161

25,979

26,292

22,226

13,126

12,877

12,739

12,558

11,972

13,076

11,302

10,872

9,247

8,838

8,543

8,419

8,787

8,598

8,213

7,980

6,196

5,896

5,715

5,748

5,792

5,618

5,205

5,230

5,252

5,257

Reimbursement from the FCC related to station repack

12,758

16,336

20,417

19,416

14,187

16,931

5,389

5,697

1,364

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill and intangible assets impairment

-

-

63,317

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain on disposal of stations and entities, net

7,075

-

96,608

-

533

-

-

-

-

0

0

0

57,716

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19

-441

82

-94

-8

-10

-10

Total operating expenses

786,807

843,592

541,960

499,068

499,573

525,246

500,122

485,829

497,720

517,004

485,954

490,586

432,797

217,404

202,762

197,987

197,729

184,916

174,716

166,807

163,831

123,905

116,048

111,988

106,133

106,044

100,639

98,019

94,387

80,794

66,395

65,401

66,137

68,568

66,571

62,580

60,779

60,270

60,584

Income from operations

305,015

256,498

121,615

149,944

127,074

272,776

192,893

174,494

117,616

136,660

125,916

135,529

107,520

92,475

72,897

64,007

57,929

67,346

48,315

52,542

37,904

68,899

41,696

34,942

27,700

32,078

25,153

28,192

17,818

35,380

23,557

23,463

17,505

17,634

8,268

12,925

9,166

12,856

13,958

Interest expense, net

-101,284

-106,831

-93,199

-51,363

-52,957

-53,887

-56,237

-56,281

-54,589

-52,668

-53,605

-55,685

-79,237

-45,228

-29,622

-20,577

-20,654

-20,440

-20,396

-20,391

-19,293

107,998

-15,530

-15,339

-15,170

-15,891

-16,900

-16,903

-16,549

-89,480

12,438

12,574

12,909

-93,086

13,069

13,308

13,705

14,309

13,881

Loss on extinguishment of debt

-7,477

-6,577

0

-2,026

-1,698

-7,475

-3,159

-481

-1,005

-534

-1,221

-1,323

-31,804

-

-

-

-

-

-

-

-

-

-

-71

-

-

-1,048

0

-

-

0

-497

-

0

0

-808

-347

-65

-7,903

Pension and other postretirement plans credit, net

-10,762

-10,222

-2,578

-1,400

-1,400

-2,397

-2,458

-2,950

-2,950

-4,177

-3,156

-3,156

-2,631

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other income (expenses), net

864

15,773

118

-574

-491

-610

3

-812

-127

-100

-161

-900

-107

-964

126

147

136

134

115

150

118

129

172

127

128

1,375

84

84

-84

-

0

0

0

-

-

-

-

-

-

Income before income taxes

222,038

168,283

34,329

97,381

73,328

213,159

135,071

119,870

64,845

87,519

74,085

80,777

-997

47,101

43,149

43,283

37,139

46,772

27,804

32,001

18,493

52,850

25,994

19,405

12,402

-18,696

7,121

11,205

1,185

18,967

11,119

10,392

4,596

4,712

-4,801

-1,191

-4,886

-1,518

-7,826

Income tax expense

64,344

54,432

39,507

26,646

16,441

58,669

35,243

33,264

17,504

-292,337

32,013

32,322

-5,941

26,690

17,533

18,484

14,865

19,356

10,649

12,101

6,581

22,001

10,590

8,461

5,049

-6,244

3,526

4,838

480

-136,991

1,558

1,574

1,580

1,448

1,458

1,393

1,426

1,477

1,595

Net income

157,694

113,851

-5,178

70,735

56,887

154,490

99,828

86,606

47,341

379,856

42,072

48,455

4,944

20,411

25,616

24,799

22,274

27,416

17,155

19,900

11,912

30,849

15,404

10,944

7,353

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to noncontrolling interests

779

639

669

2,733

1,995

1,381

-686

-1,126

-781

1,375

-4,403

4,463

-1,105

-71

817

270

547

242

-127

-421

-995

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income attributable to Nexstar Media Group, Inc.

156,915

113,212

-5,847

68,002

54,892

153,109

100,514

87,732

48,122

378,481

46,475

43,992

6,049

20,482

24,799

24,529

21,727

27,174

17,282

20,321

12,907

30,849

15,404

10,944

7,353

-12,452

3,595

6,367

705

161,097

9,561

8,818

3,016

3,264

-6,259

-2,584

-6,312

-2,995

-9,421

Net income per common share attributable to Nexstar Media Group, Inc.:
Basic

3.43

2.46

-0.13

1.48

1.20

3.35

2.21

1.92

1.04

8.29

1.01

0.94

0.14

0.66

0.81

0.80

0.71

0.89

0.55

0.65

0.41

1.00

0.50

0.36

0.24

-0.42

0.12

0.22

0.02

5.57

0.33

0.31

0.10

0.11

-0.22

-0.09

-0.22

-

-

Diluted

3.30

2.36

-0.13

1.42

1.15

3.22

2.12

1.86

1.01

8.05

0.98

0.91

0.13

0.64

0.78

0.78

0.69

0.85

0.54

0.63

0.40

0.97

0.48

0.34

0.23

-0.39

0.11

0.20

0.02

5.24

0.31

0.29

0.10

0.11

-0.22

-0.09

-0.22

-

-

Basic and diluted (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-0.11

-0.33

Weighted average number of common shares outstanding:
Basic

45,702

45,955

46,114

46,090

45,785

45,614

45,552

45,631

46,075

45,778

46,107

46,931

44,200

30,715

30,695

30,680

30,658

30,617

31,262

31,325

31,196

30,964

30,888

30,641

30,603

30,475

30,048

29,604

29,461

29,118

28,960

28,875

28,807

57,224

28,799

28,452

28

-

-

Diluted

47,615

49,823

46,114

47,971

47,784

47,478

47,338

47,147

47,685

47,530

47,452

48,195

45,419

31,800

31,698

31,620

31,538

31,575

32,151

32,382

32,256

32,104

32,067

31,932

31,909

25,700

31,509

31,325

31,054

31,245

30,703

30,341

30,639

57,224

28,799

28,452

28

-

-

Basic and diluted (in shares)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

28,432

28,431

Dividends declared per common share

-

-

-

-

-

-

-

-

-

-

-

0.30

0.30

-

0.24

0.24

0.24

0.19

0.19

0.19

0.19

0.15

0.15

0.15

0.15

0.12

0.12

0.12

0.12

-

0.00

-

-

-

-

-

-

-

-