Supplemental Stockholders' Equity Information

9 Months Ended

Sep. 27, 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 income/(loss)	11,553			(390		)	11,163
Other comprehensive income, net of tax	36,282			51			36,333
Effect of issuance of shares	100,624			—			100,624
Share repurchases	(45,953		)	—			(45,953		)
Dividends declared	(19,926		)	—			(19,926		)
Stock-based compensation	7,930			—			7,930
Balance as of September 27, 2015	$	816,838		$	1,682		$	818,520

(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 (loss)/income	(1,568		)	41		(1,527		)
Other comprehensive income, net of tax	21,757			—		21,757
Effect of issuance of shares	(841		)	—		(841		)
Dividends declared	(18,179		)	—		(18,179		)
Stock-based compensation	7,163			—		7,163
Balance as of September 28, 2014	$	851,242		$	3,665	$	854,907

In January 2009, pursuant to a securities purchase agreement, we issued warrants to affiliates of Carlos Slim Helú, then 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 January 13, 2015, the Board of Directors terminated an existing authorization to repurchase shares of the Company’s Class A Common Stock and approved a new repurchase authorization of $101.1 million, equal to the cash proceeds received by the Company from the exercise of warrants. As of September 27, 2015, the Company had repurchased 3,637,639 Class A shares under this authorization for a cost of $45.9 million (excluding commissions). 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 September 27, 2015:

(In thousands)	Foreign Currency Translation Adjustments			Funded Status of Benefit Plans			Total Accumulated Other Comprehensive Loss
Balance as of December 28, 2014	$	5,705		$	(539,500	)	$	(533,795	)
Other comprehensive loss before reclassifications, before tax(1)	(7,102		)	—			(7,102		)
Amounts reclassified from accumulated other comprehensive income, before tax(1)	—			67,595			67,595
Income tax (benefit)/expense(1)	(2,540		)	26,751			24,211
Net current-period other comprehensive (loss)/income, net of tax	(4,562		)	40,844			36,282
Balance as of September 27, 2015	$	1,143		$	(498,656	)	$	(497,513	)

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

The following table summarizes the reclassifications from AOCI for the periods ended September 27, 2015:

(In thousands)	For the Nine Months Ended September 27, 2015
Detail about accumulated other comprehensive loss components	Amounts reclassified from 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)	$	(8,808	)	Selling, general & administrative costs
Amortization of actuarial loss(1)	36,074			Selling, general & administrative costs
Pension settlement charge	40,329			Pension settlement charges
Total reclassification, before tax(2)	67,595
Income tax expense	26,751			Income tax (benefit)/expense
Total reclassification, net of tax	$	40,844

(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 September 27, 2015.