Supplemental equity information

The following table summarizes equity account activity for the nine months ended September 30, 2018 and 2017 (in thousands):



	TEGNA Inc. Shareholders’ Equity			Noncontrolling Interests			Total Equity

Balance at Dec. 31, 2017	$	995,041		$	—		$	995,041
Comprehensive income:
Net income	244,850			—			244,850
Other comprehensive income	8,855			—			8,855
Total comprehensive income	253,705			—			253,705
Dividends declared	(45,193		)	—			(45,193		)
Stock-based compensation	12,292			—			12,292
Treasury shares acquired	(5,831		)	—			(5,831		)
Impact from adoption of new revenue standard	(3,724		)	—			(3,724		)
Other activity, including shares withheld for employee taxes	(707		)	—			(707		)
Balance at Sept. 30, 2018	$	1,205,583		$	—		$	1,205,583

Balance at Dec. 31, 2016	$	2,271,418		$	281,587		$	2,553,005
Comprehensive income:
Net loss	(29,881		)	(58,698		)	(88,579		)
Redeemable noncontrolling interests (income not available to shareholders)	—			(2,797		)	(2,797		)
Other comprehensive income	34,241			5,819			40,060
Total comprehensive income (loss)	4,360			(55,676		)	(51,316		)
Dividends declared	(60,121		)	—			(60,121		)
Stock-based compensation	14,189			—			14,189
Treasury shares acquired	(8,453		)	—			(8,453		)
Spin-off of Cars.com	(1,510,851		)	—			(1,510,851		)
Deconsolidation of CareerBuilder	—			(225,911		)	(225,911		)
Other activity, including shares withheld for employee taxes	(4,667		)	—			(4,667		)
Balance at Sept. 30, 2017	$	705,875		$	—		$	705,875

The following table summarizes the components of, and the changes in, Accumulated Other Comprehensive Loss (AOCL), net of tax and noncontrolling interests (in thousands):



	Retirement Plans			Foreign Currency Translation			Other			Total

Quarters Ended:
Balance at June 30, 2018	$	(125,288	)	$	547		$	—		$	(124,741	)
Other comprehensive income before reclassifications	—			(23		)	—			(23		)
Amounts reclassified from AOCL	1,851			—			—			1,851
Total other comprehensive income	1,851			(23		)	—			1,828
Balance at Sept. 30, 2018	$	(123,437	)	$	524		$	—		$	(122,913	)

Balance at June 30, 2017	$	(124,632	)	$	(23,608	)	$	2,364		$	(145,876	)
Other comprehensive income before reclassifications	—			1,428			—			1,428
Amounts reclassified from AOCL	1,351			22,024			—			23,375
Other comprehensive income	1,351			23,452			—			24,803
Balance at Sept. 30, 2017	$	(123,281	)	$	(156	)	$	2,364		$	(121,073	)

	Retirement Plans			Foreign Currency Translation			Other			Total

Nine Months Ended:
Balance at Dec. 31, 2017	$	(107,037	)	$	114		$	—		$	(106,923	)
Other comprehensive income before reclassifications	—			410			—			410
Amounts reclassified from AOCL	8,445			—			—			8,445
Total other comprehensive income	8,445			410			—			8,855
Reclassification of stranded tax effects to retained earnings	(24,845		)	—			—			(24,845		)
Balance at Sept. 30, 2018	$	(123,437	)	$	524		$	—		$	(122,913	)

Balance at Dec. 31, 2016	$	(127,341	)	$	(28,560	)	$	(5,672	)	$	(161,573	)
Other comprehensive income (loss) before reclassifications	—			6,380			(1,707		)	4,673
Amounts reclassified from AOCL	4,060			22,024			9,743			35,827
Other comprehensive income	4,060			28,404			8,036			40,500
Balance at Sept. 30, 2017	$	(123,281	)	$	(156	)	$	2,364		$	(121,073	)

Reclassifications from AOCL to the Statement of Income are comprised of pension and other post-retirement components. Pension and other post retirement reclassifications are related to the amortization of prior service costs, amortization of actuarial losses, and pension payment timing related charges related to our SERP plan. Amounts reclassified out of AOCL are summarized below (in thousands):



	Quarter ended Sept. 30,						Nine months ended Sept. 30,
	2018			2017			2018			2017

Amortization of prior service (credit) cost	$	(101	)	$	16		$	(302	)	$	48
Amortization of actuarial loss	1,376			2,185			4,129			6,555
Reclassification of CareerBuilder foreign currency translation	—			22,024			—			22,024
Reclassification of available for sale investment	—			—			—			9,743
Pension payment timing related charges	1,198			—			7,498			—
Total reclassifications, before tax	2,473			24,225			11,325			38,370
Income tax effect	(622		)	(850		)	(2,880		)	(2,543		)
Total reclassifications, net of tax	$	1,851		$	23,375		$	8,445		$	35,827

Performance Share Award Program

During the first quarter of 2018, the Leadership Development and Compensation Committee (LDCC) of the Board of Directors established new performance metrics for long-term incentive awards for our executives under the Company’s 2001 Omnibus Incentive Compensation Plan (Amended and Restated as of May 4, 2010), as amended, designed to better reflect TEGNA as a pure-play broadcaster. On March 1, 2018, we granted certain employees performance share awards (PSAs) reflecting these new metrics with aggregate target awards of approximately 0.6 million shares of our common stock.

The number of shares earned under the March 1 PSAs will be determined based on the achievement of certain financial performance criteria (adjusted EBITDA and free cash flow as defined by the PSA) over a two-year cumulative financial performance period. If the financial performance criteria are met and certified by the LDCC, the shares earned under the PSA will be subject to an additional one year service period before the common stock is released to the employees. The PSAs do not pay dividends or allow voting rights during the performance period. Therefore, the fair value of the PSA is the quoted market value of our stock on the grant date less the present value of the expected dividends not received during the relevant performance period. The PSA provides the LDCC with limited discretion to make adjustments to the financial targets to ensure consistent year-to-year comparison for the performance criteria.

For expense recognition, in the period it becomes probable that the minimum performance criteria specified in the PSA will be achieved, we will recognize expense for the proportionate share of the total fair value of the shares subject to the PSA related to the vesting period that has already lapsed. Each reporting period we will adjust the fair value of the PSAs to the quoted market value of our stock price. In the event we determine it is no longer probable that we will achieve the minimum performance criteria specified in the PSA, we will reverse all of the previously recognized compensation expense in the period such a determination is made.