Pension and Other Postretirement Benefits

9 Months Ended

Sep. 29, 2013

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Pension and Other Postretirement Benefits

PENSION AND OTHER POSTRETIREMENT BENEFITS

Pension

Single-Employer Plans

We sponsor several single-employer defined benefit pensions, the majority of which have been frozen; and participate in joint Company and Guild-sponsored plans covering employees of The New York Times Newspaper Guild, including The New York Times Newspaper Guild pension plan, which was frozen, and a new defined benefit pension plan, subject to the approval of the Internal Revenue Service. The components of net periodic pension (income)/cost were as follows:

	For the Quarters Ended
	September 29, 2013								September 23, 2012
(In thousands)	Qualified Plans			Non- Qualified Plans		All Plans			Qualified Plans			Non- Qualified Plans		All Plans
Service cost	$	2,323		$	256	$	2,579		$	2,894		$	377	$	3,271
Interest cost	19,284			2,643		21,927			23,592			3,122		26,714
Expected return on plan assets	(31,063		)	—		(31,063		)	(29,614		)	—		(29,614		)
Amortization of prior service (credit)/cost	(486		)	—		(486		)	201			—		201
Recognized actuarial loss	8,442			1,312		9,754			7,229			1,122		8,351
Net periodic pension (income)/cost	$	(1,500	)	$	4,211	$	2,711		$	4,302		$	4,621	$	8,923

	For the Nine Months Ended
	September 29, 2013								September 23, 2012
(In thousands)	Qualified Plans			Non- Qualified Plans		All Plans			Qualified Plans			Non- Qualified Plans		All Plans
Service cost	$	6,968		$	768	$	7,736		$	8,794		$	1,131	$	9,925
Interest cost	57,858			7,929		65,787			70,832			9,366		80,198
Expected return on plan assets	(93,188		)	—		(93,188		)	(88,805		)	—		(88,805		)
Amortization of prior service (credit)/cost	(1,459		)	—		(1,459		)	603			—		603
Recognized actuarial loss	25,327			3,935		29,262			21,681			3,367		25,048
Net periodic pension (income)/cost	$	(4,494	)	$	12,632	$	8,138		$	13,105		$	13,864	$	26,969

In the first nine months of 2013, we made pension contributions of approximately $71 million to certain qualified pension plans. Approximately $65 million of our year-to-date 2013 contributions was made to The New York Times Newspaper Guild pension plan, of which $28 million was estimated to be necessary to satisfy minimum funding requirements in 2013 or contractually required. Including the first nine months of contributions, we expect to make total contributions of approximately $75 million in 2013 to our qualified pension plans.

Multiemployer Plans

In the third quarter of 2013, we recorded a $6.2 million charge related to a partial withdrawal obligation under a multiemployer pension plan.

Other Postretirement Benefits

The components of net periodic postretirement benefit income were as follows:

	For the Quarters Ended						For the Nine Months Ended
(In thousands)	September 29, 2013			September 23, 2012			September 29, 2013			September 23, 2012
Service cost	$	285		$	239		$	855		$	717
Interest cost	1,009			1,246			3,027			3,738
Amortization of prior service credit	(3,693		)	(3,778		)	(11,078		)	(11,334		)
Recognized actuarial loss	1,022			832			3,066			2,496
Net periodic postretirement benefit income	$	(1,377	)	$	(1,461	)	$	(4,130	)	$	(4,383	)

In the first quarter of 2012, we sold the Regional Media Group (see Note 11). The sale significantly reduced the expected years of future service for current employees, resulting in a remeasurement and curtailment of a postretirement benefit plan. We recognized a curtailment gain of $27.2 million in the first quarter of 2012. The curtailment gain is included in the gain on the sale within “(Loss)/income from discontinued operations, net of income taxes” in the Condensed Consolidated Statements of Operations.