Nexstar Media(NXST)2025-02-27 20:36Debt and Financial Obligations - As of December 31, 2024, the company had 3.8 billion in floating rate debt, which is sensitive to changes in the Secured Overnight Financing Rate (SOFR)[106] - The pension benefit obligations for qualified retirement plans were 1.4 billion, resulting in an underfunding of approximately 4 million to unfunded supplemental executive retirement plans during 2024, with a total liability of 38 million, while a decrease would lower it by the same amount[254] - The company's senior secured credit facilities bear interest rates ranging from 5.88% to 6.88% as of December 31, 2024[253] Income and Investments - For the year ended December 31, 2024, the company's income from equity investments in TV Food Network was 154 million[112] - The book value of the company's ownership interest in TV Food Network was 7.7 billion, or 67.1%, of the company's total assets consisted of goodwill and intangible assets[116] Tax Liabilities - The company may face additional tax liabilities related to ongoing tax audits, particularly concerning the acquisition of Tribune[118] - The IRS proposed a tax of 73 million related to the Chicago Cubs Transactions, with after-tax interest estimated at approximately 11 million for certain contested tax issues in its liability for uncertain tax positions[124] Dividends - The board of directors declared total cash dividends of 1.86 per share starting in January 2025[128] Competition and Market Risks - The company faces significant competition in the television industry, impacting growth and profitability due to alternative media and changing viewer habits[134] - Changes in federal regulations could significantly impact operations and the television broadcasting industry as a whole[136] Cybersecurity and Intellectual Property - Cybersecurity risks could adversely affect operating effectiveness and financial results, with potential incidents leading to business interruptions and increased costs[132] - The company may face challenges in protecting its intellectual property, which could impact financial performance if infringements occur[130] Share Repurchases and Legal Risks - The company engages in share repurchases, which may affect stock prices and can be suspended at any time[129] - An adverse outcome from litigation or governmental investigations could significantly impact operating results and financial condition[127] Ownership Limitations - The company is subject to foreign ownership limitations, restricting non-U.S. ownership to no more than 20%[137]