Supplemental Stockholders' Equity Information

3 Months Ended

Mar. 27, 2016

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 27, 2015	$	826,751		$	1,704		$	828,455
Net loss	(8,271		)	(5,315		)	(13,586		)
Other comprehensive income, net of tax	5,091			—			5,091
Effect of issuance of shares	(8,675		)	—			(8,675		)
Share repurchases	(15,056		)	—			(15,056		)
Dividends declared	(6,443		)	—			(6,443		)
Stock-based compensation	3,294			—			3,294
Balance as of March 27, 2016	$	796,691		$	(3,611	)	$	793,080

(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 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 March 27, 2016, the Company had repurchased 6,690,905 Class A shares under this authorization for a cost of $84.9 million (excluding commissions) and $16.2 million remained. Our Board of Directors has authorized us to purchase shares under this authorization 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 27, 2016:

(In thousands)	Foreign Currency Translation Adjustments		Funded Status of Benefit Plans			Total Accumulated Other Comprehensive Loss
Balance as of December 27, 2015	$	17	$	(509,111	)	$	(509,094	)
Other comprehensive income before reclassifications, before tax(1)	1,642		—			1,642
Amounts reclassified from accumulated other comprehensive loss, before tax(1)	—		6,552			6,552
Income tax expense(1)	495		2,608			3,103
Net current-period other comprehensive income, net of tax	1,147		3,944			5,091
Balance as of March 27, 2016	$	1,164	$	(505,167	)	$	(504,003	)

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

The following table summarizes the reclassifications from AOCI for the three months ended March 27, 2016:

(In thousands)
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)	$	(2,596	)	Selling, general & administrative costs
Amortization of actuarial loss(1)	9,148			Selling, general & administrative costs
Total reclassification, before tax(2)	6,552
Income tax expense	2,608			Income tax (benefit)/expense
Total reclassification, net of tax	$	3,944

⁽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 10 for additional information.

⁽²⁾  There were no reclassifications relating to noncontrolling interest for the quarter ended March 27, 2016.