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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 152,701 $ 232,070
Restricted cash and cash equivalents 16,608 16,608
Accounts receivable, net of allowance for doubtful accounts of $34,922 and $17,205, respectively 904,801 883,921
Spectrum asset   67,171
Prepaid expenses and other current assets 135,872 151,997
Total current assets 1,209,982 1,351,767
Property and equipment, net 1,604,881 1,290,428
Goodwill 2,984,008 2,996,875
FCC licenses 2,909,704 2,921,465
Intangible assets, net 2,939,201 3,259,620
Intangible assets, net 688,918 727,354
Assets held for sale 4,524 240,524
Investments 1,333,778 1,477,353
Other noncurrent assets, net 418,198 451,705
Total assets [1],[2] 13,404,276 13,989,737
Current liabilities:    
Current portion of debt 21,429 109,310
Accounts payable 218,418 157,366
Broadcast rights payable 105,557 120,165
Accrued expenses 307,192 422,511
Liability to surrender spectrum asset   77,962
Other current liabilities 78,292 60,243
Total current liabilities 730,888 947,557
Debt 7,646,574 8,383,278
Deferred tax liabilities 1,674,008 1,710,664
Other noncurrent liabilities 815,930 894,745
Total liabilities [2] 10,867,400 11,936,244
Commitments and contingencies (Note 17)
Stockholders' equity:    
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of December 31, 2020 and December 31, 2019
Additional paid-in capital 1,362,510 1,353,729
Accumulated other comprehensive income 34,510 19,850
Retained earnings 1,488,031 778,833
Treasury stock - at cost; 4,034,635 and 1,541,675 shares as of December 31, 2020 and December 31, 2019, respectively (367,132) (121,388)
Total Nexstar Media Group, Inc. stockholders’ equity 2,518,392 2,031,497
Noncontrolling interests 18,484 21,996
Total stockholders' equity 2,536,876 2,053,493
Total liabilities and stockholders’ equity 13,404,276 13,989,737
Network affiliation agreements [Member]    
Current assets:    
Intangible assets, net 2,250,283 2,532,266
Class A Common Stock [Member]    
Stockholders' equity:    
Common stock 473 473
Total stockholders' equity $ 473 $ 473
[1]

While the Company's investment in TV Food Network ($1.302 billion at December 31, 2020 and $1.452 billion at December 31, 2019) has not been allocated to a Company reporting unit or operating segment, such asset has been included in the Company's disclosure of Broadcasting segment assets given the similar nature of the investment to that segment. For additional information on equity investments, see Note 7.

[2]

The consolidated total assets as of December 31, 2020 and 2019 include certain assets held by consolidated VIEs of $323.2 million and $261.8 million, respectively, which are not available to be used to settle the obligations of Nexstar. The consolidated total liabilities as of December 31, 2020 and 2019 include certain liabilities of consolidated VIEs of $142.6 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.