Segment reporting (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of segment reporting information, by segment

The following tables present our segment information:


	Three months ended March 31, 2022
In thousands	Publishing			Digital Marketing Solutions			Corporate and other		Intersegment Eliminations		Consolidated
Advertising and marketing services - external sales	$	265,405		$	109,709		$	—	$	—	$	375,114
Advertising and marketing services - intersegment sales	33,357			—			—		(33,357)		—
Circulation	288,602			—			—		—		288,602
Other	83,055			—			1,306		—		84,361
Total operating revenues	$	670,419		$	109,709		$	1,306	$	(33,357)	$	748,077

Adjusted EBITDA (non-GAAP basis)	$	68,648		$	11,180		$	(15,657)	$	—	$	64,171
Adjusted EBITDA margin (non-GAAP basis)	10.2		%	10.2		%	NM		NM		8.6		%

NM indicates not meaningful.


	Three months ended March 31, 2021
In thousands	Publishing			Digital Marketing Solutions			Corporate and other		Intersegment Eliminations		Consolidated
Advertising and marketing services - external sales	$	286,454		$	101,376		$	527	$	—	$	388,357
Advertising and marketing services - intersegment sales	27,856			—			—		(27,856)		—
Circulation	325,436			—			1		—		325,437
Other	59,839			905			2,546		—		63,290
Total operating revenues	$	699,585		$	102,281		$	3,074	$	(27,856)	$	777,084

Adjusted EBITDA (non-GAAP basis)	$	102,208		$	9,172		$	(10,915)	$	—	$	100,465
Adjusted EBITDA margin (non-GAAP basis)	14.6		%	9.0		%	NM		NM		12.9		%

NM indicates not meaningful.

The table below shows the reconciliation of Net loss attributable to Gannett to Adjusted EBITDA and Net loss attributable to Gannett margin to Adjusted EBITDA margin:


	Three months ended March 31,
In thousands		2022			2021
Net loss attributable to Gannett		$	(2,967)		$	(142,316)
Benefit for income taxes		(7,607)			(9,109)
Interest expense		26,006			39,503
Loss on early extinguishment of debt		2,743			19,401
Non-operating pension income		(18,213)			(23,878)
Loss on convertible notes derivative		—			126,600
Depreciation and amortization		47,783			58,103
Integration and reorganization costs		11,398			13,404
Other operating expenses		1,102			10,576
Asset impairments		854			833

(Gain) loss on sale or disposal of assets, net		(2,804)			4,745
Share-based compensation expense		3,393			3,423
Other Items		2,483			(820)
Adjusted EBITDA (non-GAAP basis)		$	64,171		$	100,465
Net loss attributable to Gannett margin		(0.4)		%	(18.3)		%
Adjusted EBITDA margin (non-GAAP basis)		8.6		%	12.9		%