Immaterial Corrections to Prior Period Financial Statements (Tables)

12 Months Ended

Sep. 25, 2022

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The table below sets forth the impact of correcting the error in the Consolidated Statements of Income (loss) and Comprehensive Income (loss).

(Thousands of Dollars, Except Per Common Share Data)	Year Ended September 26, 2021			Year Ended September 27, 2020
	As previously reported	Adjustment	As Revised	As previously reported	Adjustment	As Revised
Income before Income Taxes	32,047	—	32,047	2,843	—	2,843
Income tax expense	7,215	40	7,255	4,104	(1,131)	2,973
Net income (loss)	24,832	(40)	24,792	(1,261)	1,131	(130)
(Loss) income attributable to Lee Enterprises, Incorporated	22,785	(40)	22,745	(3,106)	1,131	(1,975)
Comprehensive (loss) income attributable to Lee Enterprises, Inc.	85,022	(40)	84,982	5,958	1,131	7,089
Earnings per common share
Basic	3.99	(0.01)	3.98	(0.55)	0.20	(0.35)
Diluted	3.91	(0.01)	3.90	(0.55)	0.20	(0.35)

The table below sets forth the impact of correcting the error in the Consolidated Balance Sheets.

(Thousands of Dollars)	As of September 26, 2021			As of September 27, 2020
	As previously reported	Adjustment	As Revised	As previously reported	Adjustment	As Revised
Liabilities
Deferred incomes taxes	40,295	13,468	53,763	15,208	13,428	28,636
Total liabilities	786,853	13,468	800,321	893,690	13,428	907,118
Accumulated deficit	(245,744)	(13,468)	(259,212)	(268,529)	(13,428)	(281,957)
Total stockholders' equity (deficit)	54,565	(13,468)	41,097	(31,564)	(13,428)	(44,992)
Total equity (deficit)	56,698	(13,468)	43,230	(29,633)	(13,428)	(43,061)
Total liabilities and stockholders' equity	843,551	—	843,551	864,057	—	864,057

The table below sets forth the impact of correcting the error in the Consolidated Statements of Stockholders' Equity (Deficit)

(Thousands of Dollars)	Year Ended September 26, 2021			Year Ended September 27, 2020
	As previously reported	Adjustment	As Revised	As previously reported	Adjustment	As Revised
Accumulated deficit:
Balance, beginning of year	(268,529)	(13,428)	(281,957)	(265,423)	(14,559)	(279,982)
Net income (loss)	24,832	(40)	24,792	(1,261)	1,131	(130)
Balance, end of year	(245,744)	(13,468)	(259,212)	(268,529)	(13,428)	(281,957)

The table below sets forth the impact of correcting the error in the Consolidated Statements of Cash Flows.

(Thousands of Dollars)	Year Ended September 26, 2021			Year Ended September 27, 2020
	As previously reported	Adjustment	As Revised	As previously reported	Adjustment	As Revised
Operating Activities
Net income (loss)	24,832	(40)	24,792	(1,261)	1,131	(130)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Deferred income taxes	5,120	40	5,160	(3,560)	(1,131)	(4,691)

Unaudited Interim Financial Information

The tables below sets forth the impact of the error correction on the unaudited interim Consolidated Balance Sheets for the interim periods in 2022. The error had no impact on the unaudited interim Consolidated Statements of Income (Loss) and Comprehensive Income (Loss), and Statements of Cash Flows, in the 2022 interim periods.

(Thousands of Dollars)	As of December 26, 2021			As of March 27, 2022
	As previously reported	Adjustment	As Revised	As previously reported	Adjustment	As Revised
Liabilities
Deferred incomes taxes	38,957	13,468	52,425	38,397	13,468	51,865
Total liabilities	768,744	13,468	782,212	740,032	13,468	753,500
Accumulated deficit	(233,086)	(13,468)	(246,554)	(240,362)	(13,468)	(253,830)
Total stockholders' equity	60,912	(13,468)	47,444	53,129	(13,648)	39,481
Total equity	63,105	(13,468)	49,637	55,369	(13,468)	41,901
Total liabilities and stockholders' equity	831,849	—	831,849	795,401	—	795,401

(Thousands of Dollars)	As of June 26, 2022
	As previously reported	Adjustment	As Revised
Liabilities
Deferred incomes taxes	37,295	13,468	50,763
Total liabilities	740,221	13,468	753,689
Accumulated deficit	(240,631)	(13,468)	(254,099)
Total stockholders' equity	52,391	(13,468)	41,147
Total equity	54,615	(13,468)	41,147
Total liabilities and stockholders' equity	794,836	—	794,836