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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 146 $ 135
Restricted cash and cash equivalents   12
Accounts receivable, net of allowance for credit losses of $20 and $20, respectively 1,048 1,095
Broadcast rights 119 136
Prepaid expenses and other current assets 159 88
Total current assets 1,472 1,466
Property and equipment, net 1,251 1,269
Goodwill 2,946 2,946
FCC licenses 2,929 2,929
Intangible assets, net 1,982 2,124
Investments 856 958
Other noncurrent assets, net 383 386
Total assets [1] 11,819 12,078
Current liabilities:    
Current portion of debt 124 124
Accounts payable 133 235
Broadcast rights payable 106 136
Accrued expenses 348 350
Operating lease liabilities 42 47
Other current liabilities 75 69
Total current liabilities 828 961
Debt 6,657 6,713
Deferred tax liabilities 1,506 1,520
Other noncurrent liabilities 548 571
Total liabilities [1] 9,539 9,765
Commitments and contingencies (Note 12)
Stockholders' equity:    
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of June 30, 2024 and December 31, 2023
Common stock
Additional paid-in capital 1,281 1,283
Accumulated other comprehensive income 1 1
Retained earnings 3,369 3,188
Treasury stock - at cost; 14,797,318 and 13,681,897 shares as of June 30, 2024 and December 31, 2023, respectively (2,384) (2,173)
Total Nexstar Media Group, Inc. stockholders' equity 2,267 2,299
Noncontrolling interests 13 14
Total stockholders' equity 2,280 2,313
Total liabilities and stockholders' equity 11,819 12,078
Network affiliation agreements [Member]    
Current assets:    
Intangible assets, net 1,588 1,683
Other Intangible Assets [Member]    
Current assets:    
Intangible assets, net $ 394 $ 441
[1] The condensed consolidated total assets as of June 30, 2024 and December 31, 2023 include certain assets held by consolidated VIEs of $299 million and $300 million, respectively, which are not available to be used to settle the obligations of Nexstar. The condensed consolidated total liabilities as of June 30, 2024 and December 31, 2023 include certain liabilities of consolidated VIEs of $148 million and $152 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.