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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2016
Consolidated VIEs

The carrying amounts and classification of the assets and liabilities of the VIEs which have been included in the Consolidated Balance Sheets as of December 31, were as follows (in thousands):

 

 

 

2016

 

 

2015

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

7,302

 

 

$

6,137

 

Accounts receivable, net

 

 

20,553

 

 

 

16,400

 

Prepaid expenses and other current assets

 

 

3,353

 

 

 

3,460

 

Total current assets

 

 

31,208

 

 

 

25,997

 

Property and equipment, net

 

 

29,984

 

 

 

29,681

 

Goodwill

 

 

98,107

 

 

 

69,825

 

FCC licenses

 

 

114,791

 

 

 

74,311

 

Other intangible assets, net

 

 

87,668

 

 

 

58,053

 

Other noncurrent assets, net

 

 

13,233

 

 

 

22,572

 

Total assets

 

$

374,991

 

 

$

280,439

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Current portion of debt

 

$

8,334

 

 

$

6,985

 

Interest payable

 

 

1,031

 

 

 

28

 

Other current liabilities

 

 

12,606

 

 

 

14,288

 

Total current liabilities

 

 

21,971

 

 

 

21,301

 

Debt

 

 

268,499

 

 

 

276,131

 

Other noncurrent liabilities

 

 

26,590

 

 

 

26,427

 

Total liabilities

 

$

317,060

 

 

$

323,859

 

 

Weighted Average Shares Outstanding

Basic income per share is computed by dividing the net income by the weighted-average number of common shares outstanding during the period. Diluted income per share is computed using the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares are calculated using the treasury stock method. They consist of stock options and restricted stock units outstanding during the period and reflect the potential dilution that could occur if common shares were issued upon exercise of stock options and vesting of restricted stock units. The following table shows the amounts used in computing the Company’s diluted shares during the years ended December 31, 2016, 2015 and 2014 (in thousands):

 

 

 

2016

 

 

2015

 

 

2014

 

Weighted average shares outstanding - basic

 

 

30,687

 

 

 

31,100

 

 

 

30,774

 

Dilutive effect of equity incentive plan instruments

 

 

977

 

 

 

991

 

 

 

1,229

 

Weighted average shares outstanding - diluted

 

 

31,664

 

 

 

32,091

 

 

 

32,003

 

 

Consolidated VIEs [Member]  
Consolidated VIEs

As of December 31, the assets of consolidated VIEs that are not available to settle the obligations of Nexstar and the liabilities of consolidated VIEs for which their creditors do not have recourse to the general credit of Nexstar are as follows (in thousands):

 

 

 

2016

 

 

2015

 

Current assets

 

$

3,638

 

 

$

2,910

 

Property and equipment, net

 

 

6,944

 

 

 

4,004

 

Goodwill

 

 

46,465

 

 

 

18,182

 

FCC licenses

 

 

114,791

 

 

 

74,311

 

Other intangible assets, net

 

 

53,747

 

 

 

20,112

 

Other noncurrent assets, net

 

 

613

 

 

 

389

 

Total assets

 

 

226,198

 

 

 

119,908

 

 

 

 

 

 

 

 

 

 

Current liabilities

 

 

12,606

 

 

 

14,288

 

Noncurrent liabilities

 

 

26,590

 

 

 

26,427

 

Total liabilities

 

$

39,196

 

 

$

40,715