v3.25.1
Retirement and Postretirement Plans
 3 Months Ended
Mar. 31, 2025
Retirement Benefits [Abstract]  
Retirement and Postretirement Plans

Note 9: Retirement and Postretirement Plans

Nexstar has various funded, qualified non-contributory defined benefit retirement plans which cover certain employees and former employees. All these retirement plans are frozen in terms of pay and service, except for a plan with immaterial pension benefit obligations.

Nexstar also has various other postretirement benefit plans (“OPEB”), including retiree medical savings account plans which reimburse eligible retired employees for certain medical expenses and unfunded plans that provide certain health and life insurance benefits to certain retired employees. The periodic benefit cost (credit) related to OPEB is not significant.

The following tables provide the components of net periodic benefit cost (credit) for Nexstar’s pension benefit plans (in millions):

 

 

Pension Benefit Plans

 

 

OPEB

 

 

 

Three Months Ended March 31,

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Interest cost

 

$

19

 

 

$

19

 

 

$

-

 

 

$

-

 

Expected return on plan assets

 

 

(26

)

 

 

(25

)

 

 

-

 

 

 

-

 

Amortization of net gain

 

 

(1

)

 

 

(1

)

 

 

-

 

 

 

-

 

Net periodic benefit credit

 

$

(8

)

 

$

(7

)

 

$

-

 

 

$

-

 

During the three months ended March 31, 2025, there were no significant contributions to qualified pension benefit plans. Nexstar anticipates it will be required to contribute a total of $15 million to its qualified pension benefit plans in 2025.