Investor Presentaiton
Prudent Allocation of Capital
Stock Buybacks
16%
NXST 2020 Capital Allocation Mix (%)
NXST brought ~28% of every net revenue dollar to the free cash flow line in
2020, allowing the Company to strategically deploy cash in a manner that is
consistent with its commitment to leverage reduction and shareholder returns
M&A
22%
Cash Dividends
6%
2020 Total ~$1.77 billion
Sources of Capital:
(in millions)
Operating free cash flow
$
1,280
After-tax proceeds from divestitures / litigation settlements
$
320
Debt Reduction
56%
Mission borrowings and asset conversions
140
Other
$
ՄՌ
30
TOTAL
$
1,770
•
Uses of Capital:
(in millions)
Debt reduction
$
1,000
Complementary accretive acquisitions
$
389
Opportunistic share repurchases
$
282
Quarterly cash dividends
$
ՄՌ
101
TOTAL
$
1,770
Despite the pandemic, NXST's total net leverage at year-end 2020 was 3.60x,
compared to 5.18x at year-end 2019 and in-line with the Company's previously
stated goal of reaching high-3x by year-end 2020
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