10-Q Filing

NEXSTAR MEDIA GROUP, INC. CIK: 1142417 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-019718`
Period End Date	20230331
Filing Date	20230509
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	nxst-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 96 Income Statement 38 Cash Flow Statement 65 Stockholders Equity 30

Balance Sheet 96 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$18.00M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$19.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$204.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$413.00M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	200,000.00	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	200,000.00	shares	Point-in-time
Restricted cash and cash equivalents	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$14.00M	USD	Point-in-time
Restricted cash and cash equivalents	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$16.00M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $19 and $18, respectively	`AccountsReceivableNetCurrent`	$1.01B	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $19 and $18, respectively	`AccountsReceivableNetCurrent`	$1.08B	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Broadcast rights	`BroadcastRightsCurrent`	$194.00M	USD	Point-in-time
Broadcast rights	`BroadcastRightsCurrent`	$183.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$121.00M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$80.00M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.70B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.61B	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.26B	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.26B	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.28M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	47.28M	shares	Point-in-time
Goodwill	`Goodwill`	$2.96B	USD	Point-in-time
Goodwill	`Goodwill`	$2.96B	USD	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	36.81M	shares	Point-in-time
Common stock, shares outstanding	`SharesOutstanding`	35.98M	shares	Point-in-time
FCC licenses	`IndefiniteLivedLicenseAgreements`	$2.91B	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	11.30M	shares	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	10.47M	shares	Point-in-time
FCC licenses	`IndefiniteLivedLicenseAgreements`	$2.91B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.43B	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$2.36B	USD	Point-in-time
Total assets	`Assets`	$12.68B	USD	Point-in-time
Total assets	`Assets`	$12.46B	USD	Point-in-time
Investments	`LongTermInvestments`	$1.12B	USD	Point-in-time
Investments	`LongTermInvestments`	$919.00M	USD	Point-in-time
Other noncurrent assets, net	`OtherAssetsNoncurrent`	$359.00M	USD	Point-in-time
Other noncurrent assets, net	`OtherAssetsNoncurrent`	$378.00M	USD	Point-in-time
Total assets	`Assets`	$12.68B	USD	Point-in-time
Total assets	`Assets`	$12.46B	USD	Point-in-time
Total liabilities	`Liabilities`	$9.81B	USD	Point-in-time
Total liabilities	`Liabilities`	$9.91B	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$124.00M	USD	Point-in-time
Current portion of debt	`LongTermDebtCurrent`	$124.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$207.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$198.00M	USD	Point-in-time
Broadcast rights payable	`BroadcastRightsPayable`	$151.00M	USD	Point-in-time
Broadcast rights payable	`BroadcastRightsPayable`	$128.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$319.00M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$305.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$50.00M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$50.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$51.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$50.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$893.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$864.00M	USD	Point-in-time
Debt	`LongTermDebtNoncurrent`	$6.80B	USD	Point-in-time
Debt	`LongTermDebtNoncurrent`	$6.83B	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$1.59B	USD	Point-in-time
Deferred tax liabilities	`DeferredIncomeTaxLiabilitiesNet`	$1.61B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$584.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$555.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$9.81B	USD	Point-in-time
Total liabilities	`Liabilities`	$9.91B	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock - $0.01 par value, 200,000 shares authorized; none issued and outstanding at each of March 31, 2023 and December 31, 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	-	USD	Point-in-time
Common stock	`CommonStockValue`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.27B	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$1.29B	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$27.00M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$27.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.09B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.03B	USD	Point-in-time
Treasury stock - at cost; 11,299,262 and 10,472,637 shares as of March 31, 2023 and December 31, 2022, respectively	`TreasuryStockValue`	$1.77B	USD	Point-in-time
Treasury stock - at cost; 11,299,262 and 10,472,637 shares as of March 31, 2023 and December 31, 2022, respectively	`TreasuryStockValue`	$1.61B	USD	Point-in-time
Total Nexstar Media Group, Inc. stockholders' equity	`StockholdersEquity`	$2.62B	USD	Point-in-time
Total Nexstar Media Group, Inc. stockholders' equity	`StockholdersEquity`	$2.74B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$28.00M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$29.00M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.86B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.92B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.77B	USD	Point-in-time
Total stockholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.65B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.46B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$12.68B	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.26B	USD	1 Quarter
Net revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$1.21B	USD	1 Quarter
Direct operating expenses, excluding depreciation and amortization	`DirectOperatingCosts`	$538.00M	USD	1 Quarter
Direct operating expenses, excluding depreciation and amortization	`DirectOperatingCosts`	$490.00M	USD	1 Quarter
Selling, general and administrative expenses, excluding depreciation and amortization	`SellingGeneralAndAdministrativeExpense`	$248.00M	USD	1 Quarter
Selling, general and administrative expenses, excluding depreciation and amortization	`SellingGeneralAndAdministrativeExpense`	$266.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$249.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$145.00M	USD	1 Quarter
Other	`OtherOperatingIncomeExpenseNet`	$2.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$881.00M	USD	1 Quarter
Total operating expenses	`CostsAndExpenses`	$1.05B	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$329.00M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$204.00M	USD	1 Quarter
Income from equity method investments, net	`IncomeLossFromEquityMethodInvestments`	$38.00M	USD	1 Quarter
Income from equity method investments, net	`IncomeLossFromEquityMethodInvestments`	$25.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-107.00M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-69.00M	USD	1 Quarter
Pension and other postretirement plans credit, net	`PensionAndOtherPostretirementBenefitExpense`	$-11.00M	USD	1 Quarter
Pension and other postretirement plans credit, net	`PensionAndOtherPostretirementBenefitExpense`	$-9.00M	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-5.00M	USD	1 Quarter
Other expenses, net	`OtherNonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$130.00M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$304.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$42.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$52.00M	USD	1 Quarter
Net income	`ProfitLoss`	$88.00M	USD	1 Quarter
Net income	`ProfitLoss`	$252.00M	USD	1 Quarter
Net loss attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-23.00M	USD	1 Quarter
Net income attributable to Nexstar Media Group, Inc.	`NetIncomeLoss`	$111.00M	USD	1 Quarter
Net income attributable to Nexstar Media Group, Inc.	`NetIncomeLoss`	$252.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.03	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$6.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$2.97	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$5.99	USD	1 Quarter
Basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.72M	shares	1 Quarter
Basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	40.95M	shares	1 Quarter
Diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.45M	shares	1 Quarter
Diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	41.98M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$88.00M	USD	1 Quarter
Net income	`ProfitLoss`	$252.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$249.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$145.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$14.00M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$13.00M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$13.00M	USD	1 Quarter
Deferred income taxes	`IncreaseDecreaseInDeferredIncomeTaxes`	$8.00M	USD	1 Quarter
Payments for broadcast rights	`PaymentsForBroadcastRights`	$33.00M	USD	1 Quarter
Payments for broadcast rights	`PaymentsForBroadcastRights`	$142.00M	USD	1 Quarter
Income from equity method investments, net	`IncomeLossFromEquityMethodInvestments`	$38.00M	USD	1 Quarter
Income from equity method investments, net	`IncomeLossFromEquityMethodInvestments`	$25.00M	USD	1 Quarter
Distribution from equity method investments - return on capital	`EquityMethodInvestmentDividendsOrDistributions`	$193.00M	USD	1 Quarter
Distribution from equity method investments - return on capital	`EquityMethodInvestmentDividendsOrDistributions`	$226.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-4.00M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-72.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$11.00M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-21.00M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$19.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities`	$-38.00M	USD	1 Quarter
Accrued expenses and other current liabilities	`IncreaseDecreaseInAccruedExpensesAndOtherCurrentLiabilities`	$-24.00M	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$57.00M	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$52.00M	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-14.00M	USD	1 Quarter
Other noncurrent liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-13.00M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$2.00M	USD	1 Quarter
Other	`OtherOperatingActivitiesCashFlowStatement`	$6.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$494.00M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$519.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$36.00M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.00M	USD	1 Quarter
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-7.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-22.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-36.00M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfDebt`	$31.00M	USD	1 Quarter
Repayments of long-term debt	`RepaymentsOfDebt`	$160.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$158.00M	USD	1 Quarter
Purchase of treasury stock	`PaymentsForRepurchaseOfCommonStock`	$176.00M	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$50.00M	USD	1 Quarter
Common stock dividends paid	`PaymentsOfDividendsCommonStock`	$37.00M	USD	1 Quarter
Contribution from noncontrolling interests	`ProceedsFromMinorityShareholders`	$24.00M	USD	1 Quarter
Cash paid for shares withheld for taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$15.00M	USD	1 Quarter
Cash paid for shares withheld for taxes	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$10.00M	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$6.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-251.00M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-362.00M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$135.00M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$207.00M	USD	1 Quarter
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$342.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$220.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$427.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$342.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$207.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$220.00M	USD	Point-in-time
Cash, cash equivalents and restricted cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$427.00M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$107.00M	USD	1 Quarter
Interest paid	`InterestPaidNet`	$78.00M	USD	1 Quarter
Accrued and noncash purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$5.00M	USD	1 Quarter
Accrued and noncash purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$15.00M	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$4.00M	USD	1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations	`RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability`	$21.00M	USD	1 Quarter

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Common stock dividends declared (per share)	`CommonStockDividendsPerShareDeclared`	$1.35	USD	1 Quarter
Common stock dividends declared (per share)	`CommonStockDividendsPerShareDeclared`	$0.90	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.86B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.92B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.77B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.65B	USD	Point-in-time
Balance, Shares	`CommonStockSharesIssued`	47.28M	shares	Point-in-time
Balance, Shares	`CommonStockSharesIssued`	47.28M	shares	Point-in-time
Balance, Shares	`TreasuryStockShares`	11.30M	shares	Point-in-time
Balance, Shares	`TreasuryStockShares`	10.47M	shares	Point-in-time
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$158.00M	USD	1 Quarter
Purchase of treasury stock	`TreasuryStockValueAcquiredCostMethod`	$176.00M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$14.00M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$13.00M	USD	1 Quarter
Vesting of restricted stock units and exercise of stock options	`VestingOfRestrictedStockUnitsAndExerciseOfStockOptions`	$-16.00M	USD	1 Quarter
Vesting of restricted stock units and exercise of stock options	`VestingOfRestrictedStockUnitsAndExerciseOfStockOptions`	$-4.00M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStockCash`	$37.00M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStockCash`	$50.00M	USD	1 Quarter
Contribution from noncontrolling interests	`NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance`	$24.00M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$88.00M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$252.00M	USD	1 Quarter
Other	`StockIssuedDuringPeriodValueOther`	$-1.00M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.86B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.92B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.77B	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$2.65B	USD	Point-in-time
Balance, Shares	`CommonStockSharesIssued`	47.28M	shares	Point-in-time
Balance, Shares	`CommonStockSharesIssued`	47.28M	shares	Point-in-time
Balance, Shares	`TreasuryStockShares`	11.30M	shares	Point-in-time
Balance, Shares	`TreasuryStockShares`	10.47M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.