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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Sep. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 409,906 $ 232,070
Restricted cash and cash equivalents 16,610 16,608
Accounts receivable, net of allowance for doubtful accounts of $29,082 and $17,205, respectively 782,198 883,921
Spectrum asset   67,171
Prepaid expenses and other current assets 132,498 151,997
Total current assets 1,341,212 1,351,767
Property and equipment, net 1,598,081 1,290,428
Goodwill 2,861,314 2,996,875
FCC licenses 2,856,374 2,921,465
Intangible assets, net 2,955,084 3,259,620
Other intangible assets, net 664,400 727,354
Assets held for sale 4,524 240,524
Investments 1,313,858 1,477,353
Other noncurrent assets, net 360,055 451,705
Total assets [1] 13,290,502 13,989,737
Current liabilities:    
Current portion of debt 22,921 109,310
Accounts payable 161,083 157,366
Broadcast rights payable 111,144 120,165
Accrued expenses 279,816 422,511
Liability to surrender spectrum asset   77,962
Operating lease liabilities 34,434 35,043
Deferred revenue 47,498 18,725
Other current liabilities 14,846 6,475
Total current liabilities 671,742 947,557
Debt 7,859,619 8,383,278
Deferred tax liabilities 1,686,238 1,710,664
Other noncurrent liabilities 818,187 894,745
Total liabilities [1] 11,035,786 11,936,244
Commitments and contingencies (Note 15)
Stockholders' equity:    
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of September 30, 2020 and December 31, 2019
Additional paid-in capital 1,351,372 1,353,729
Accumulated other comprehensive income 19,850 19,850
Retained earnings 1,149,638 778,833
Treasury stock - at cost; 3,256,448 and 1,541,675 shares as of September 30, 2020 and December 31, 2019, respectively (286,705) (121,388)
Total Nexstar Media Group, Inc. stockholders’ equity 2,234,628 2,031,497
Noncontrolling interests 20,088 21,996
Total stockholders’ equity 2,254,716 2,053,493
Total liabilities and stockholders’ equity 13,290,502 13,989,737
Network affiliation agreements [Member]    
Current assets:    
Intangible assets, net 2,290,684 2,532,266
Class A Common Stock [Member]    
Stockholders' equity:    
Common stock 473 473
Total stockholders’ equity $ 473 $ 473
[1] The consolidated total assets as of September 30, 2020 and December 31, 2019 include certain assets held by consolidated VIEs of $339.6 million and $332.6 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of September 30, 2020 and December 31, 2019 include certain liabilities of consolidated VIEs of $59.8 million and $61.7 million, respectively, for which the creditors of the VIEs have no recourse to the general credit of Nexstar. See Note 2 for additional information.