XML 45 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Supplemental equity information (Tables)
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Schedule of earnings (loss) per share (basic and diluted)
The following table sets forth the computation of basic and diluted loss per share:
 
Three months ended
 
Nine months ended
In thousands
September 30, 2020
 
September 29, 2019
 
September 30, 2020
 
September 29, 2019
Net loss attributable to Gannett
$
(31,260
)
 
$
(18,463
)
 
$
(548,305
)
 
$
(24,754
)
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
132,223

 
60,034

 
131,425

 
60,010

Diluted weighted average shares outstanding
132,223

 
60,034

 
131,425

 
60,010
Schedule of securities from computation of diluted income per share
The Company excluded the following securities from the computation of diluted income per share because their effect would have been antidilutive:
 
Three months ended
 
Nine months ended
In thousands
September 30, 2020
 
September 29, 2019
 
September 30, 2020
 
September 29, 2019
Stock warrants
1,362

 
1,362

 
1,362

 
1,362

Stock options
6,068

 
2,905

 
6,068

 
2,905

Restricted stock awards
7,130

 
446

 
7,130

 
446
Summary of manager stock options
The following table includes additional information regarding the Manager stock options:
 
Number of Options
(In thousands)
 
Weighted-Average Grant Date Fair Value
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term (Years)
 
Aggregate Intrinsic Value ($000)
Outstanding at December 31, 2019
6,068

 
$
1.78

 
$
14.70

 
8.2
 
$
—

Granted
—

 
$
—

 
$
—

 
 
 
 
Outstanding at September 30, 2020
6,068

 
$
1.78

 
$
13.97

 
7.4
 
$
—

 
 
 
 
 
 
 
 
 
 
Exercisable at September 30, 2020
3,936

 
$
1.78

 
$
13.15

 
6.5
 
$
—
Schedule of nonvested RSG cost
The following table outlines restricted stock unit ("RSU") and performance stock unit ("PSU") award activity specific to Legacy Gannett for the nine months ended September 30, 2020:
 
Nine months ended September 30, 2020
 
Number
of 
RSUs & PSUs
(In thousands)
 
Weighted-
Average
Grant Date
Fair Value
Unvested at beginning of period
7,368

 
$
6.28

Granted
282

 
0.90

Vested
(4,100
)
 
6.27

Forfeited
(401
)
 
2.61

Unvested at end of period
3,149


$
6.28


The following table outlines restricted stock grant ("RSGs") activity for the Company for the nine months ended September 30, 2020:
 
Nine months ended
 
September 30, 2020
 
September 29, 2019
 
Number
of RSGs
(In thousands)
 
Weighted-
Average
Grant Date
Fair Value
 
Number
of RSGs
(In thousands)
 
Weighted-
Average
Grant Date
Fair Value
Unvested at beginning of period
317

 
$
14.61

 
384

 
$
16.11

Granted
5,277

 
3.89

 
300

 
13.64

Vested
(1,157
)
 
5.86

 
(167
)
 
15.95

Forfeited
(456
)
 
3.36

 
(71
)
 
15.26

Unvested at end of period
3,981

 
$
4.24

 
446

 
$
14.65
Schedule of accumulated other comprehensive income (loss)
The following tables summarize the components of, and the changes in, Accumulated other comprehensive loss (net of tax) for the nine months ended September 30, 2020 and the nine months ended September 29, 2019:
 
Nine months ended September 30, 2020
In thousands
Retirement Plans
 
Foreign Currency Translation



Total
Beginning balance
$
936

 
$
7,266

 
$
8,202

Other comprehensive income (loss) before reclassifications
(5,675
)
 
(8,908
)
 
(14,583
)
Amounts reclassified from accumulated other comprehensive loss(a)
(30
)
 
—

 
(30
)
Net current period other comprehensive income (loss), net of taxes
(5,705
)
 
(8,908
)
 
(14,613
)
Ending balance
$
(4,769
)
 
$
(1,642
)
 
$
(6,411
)
(a) 
This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 9 — Pensions and other postretirement benefit plans.
 
Nine months ended September 29, 2019
In thousands
Retirement Plans
 
Foreign Currency Translation
 
Total
Beginning balance
$
(6,881
)
 
$
—

 
$
(6,881
)
Other comprehensive income (loss) before reclassifications
—

 
—

 
—

Amounts reclassified from accumulated other comprehensive loss(a)
(90
)
 
—

 
(90
)
Net current period other comprehensive income (loss), net of taxes
(90
)
 
—

 
(90
)
Ending balance
$
(6,971
)
 
$
—

 
$
(6,971
)

(a) 
This accumulated other comprehensive income (loss) component is included in the computation of net periodic benefit cost. See Note 9 — Pensions and other postretirement benefit plans.
Reclassification out of accumulated other comprehensive income related to these postretirement plans Reclassifications out of accumulated other comprehensive loss related to these postretirement plans include the following:
 
Three months ended
 
Nine months ended
In thousands
September 30, 2020
 
September 29, 2019
 
September 30, 2020
 
September 29, 2019
Amortization of prior service credit, net
$
—

 
$
—

 
$
—

 
$
—

Amortization of actuarial gain
(11
)
 
(30
)
 
(36
)
 
(90
)
Total reclassifications, before tax
(11
)
 
(30
)
 
(36
)
 
(90
)
Income tax expense (benefit)
1

 
—

 
(6
)
 
—

Total reclassifications, net of tax
$
(12
)
 
$
(30
)
 
$
(30
)
 
$
(90
)