Supplemental Stockholders' Equity Information

3 Months Ended

Mar. 29, 2015

Equity [Abstract]

Supplemental Stockholders' Equity Information

SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION

Stockholders’ equity is summarized as follows:

(In thousands)	Total New York Times Company Stockholders’ Equity			Noncontrolling Interest			Total Stockholders’ Equity
Balance as of December 28, 2014	$	726,328		$	2,021		$	728,349
Net loss	(14,262		)	(159		)	(14,421		)
Other comprehensive income, net of tax	24,491			—			24,491
Effect of issuance of shares	99,828			—			99,828
Share repurchases	(3,800		)	—			(3,800		)
Dividends declared	(6,693		)	—			(6,693		)
Stock-based compensation	1,938			—			1,938
Balance as of March 29, 2015	$	827,830		$	1,862		$	829,692

(In thousands)	Total New York Times Company Stockholders’ Equity			Noncontrolling Interest		Total Stockholders’ Equity
Balance as of December 29, 2013	$	842,910		$	3,624	$	846,534
Net income	1,743			110		1,853
Other comprehensive income, net of tax	3,894			—		3,894
Effect of issuance of shares	(1,132		)	—		(1,132		)
Dividends declared	(6,058		)	—		(6,058		)
Stock-based compensation	3,471			—		3,471
Balance as of March 30, 2014	$	844,828		$	3,734	$	848,562

In January 2009, pursuant to a securities purchase agreement, we issued warrants to affiliates of Carlos Slim Helú, the beneficial owner of approximately 8% of our Class A Common Stock (excluding the warrants), to purchase 15.9 million shares of our Class A Common Stock at a price of $6.3572 per share. On January 14, 2015, the warrant holders exercised these warrants in full and the Company received cash proceeds of $101.1 million from this exercise.

On April 13, 2004, our Board of Directors authorized repurchases in an amount up to $400 million of our Class A Common Stock. As of December 28, 2014, $91.4 million remained under this authorization. On January 13, 2015, the Board of Directors terminated this authorization and approved a new repurchase authorization of $101.1 million, equal to the cash proceeds received by the Company from the exercise of warrants. Under this authorization, the Company repurchased 282,943 Class A shares at cost during the quarter for $3.8 million. As of April 29, 2015, repurchases totaled $7.3 million and $93.8 million remained under this authorization. Our Board of Directors has authorized us to purchase shares from time to time as market conditions permit. There is no expiration date with respect to this authorization.

The following table summarizes the changes in AOCI by component as of March 29, 2015:

(In thousands)	Foreign Currency Translation Adjustments			Funded Status of Benefit Plans			Total Accumulated Other Comprehensive Loss
Balance, December 28, 2014	$	5,705		$	(539,500	)	$	(533,795	)
Other comprehensive income before reclassifications, before tax(1)	(8,527		)	—			(8,527		)
Amounts reclassified from accumulated other comprehensive loss, before tax(1)	—			49,338			49,338
Income tax (benefit)/expense(1)	(3,273		)	19,593			16,320
Net current-period other comprehensive income, net of tax	(5,254		)	29,745			24,491
Balance, March 29, 2015	$	451		$	(509,755	)	$	(509,304	)

(1) All amounts are shown net of noncontrolling interest.

The following table summarizes the reclassifications from AOCI for the quarter ended March 29, 2015:

(In thousands)	Amounts reclassified from
Detail about accumulated other comprehensive loss components	accumulated other comprehensive loss			Affect line item in the statement where net income is presented
Funded status of benefit plans:
Amortization of prior service credit(1)	$	(2,961	)	Selling, general & administrative costs
Amortization of actuarial loss(1)	11,970			Selling, general & administrative costs
Pension settlement charge	40,329			Pension settlement charge
Total reclassification, before tax(2)	49,338
Income tax benefit	19,593			Income tax (benefit)/expense
Total reclassification, net of tax	$	29,745

(1) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost for pension and other retirement benefits. See Note 9 for additional information.

(2) There were no reclassifications relating to noncontrolling interest for the quarter ended March 29, 2015.