Supplemental Stockholders' Equity Information

6 Months Ended

Jun. 25, 2017

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 25, 2016	$	847,815		$	(3,571	)	$	844,244
Net income/(loss)	28,780			(106		)	28,674
Other comprehensive income, net of tax	11,555			—			11,555
Effect of issuance of shares	(1,096		)	—			(1,096		)
Dividends declared	(6,496		)	—			(6,496		)
Stock-based compensation	7,145			—			7,145
Balance as of June 25, 2017	$	887,703		$	(3,677	)	$	884,026

(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	(8,482		)	(5,596		)	(14,078		)
Other comprehensive income, net of tax	9,029			—			9,029
Effect of issuance of shares	(9,194		)	—			(9,194		)
Share repurchases	(15,056		)	—			(15,056		)
Dividends declared	(6,445		)	—			(6,445		)
Stock-based compensation	6,440			—			6,440
Balance as of June 26, 2016	$	803,043		$	(3,892	)	$	799,151

On January 14, 2015, the Board of Directors approved an authorization of $101.1 million to repurchase shares of the Company’s Class A Common Stock. As of June 25, 2017, 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, subject to market conditions and other factors. There is no expiration date with respect to this authorization.

The following table summarizes the changes in AOCI by component as of June 25, 2017:

(In thousands)	Foreign Currency Translation Adjustments			Funded Status of Benefit Plans			Total Accumulated Other Comprehensive Loss
Balance as of December 25, 2016	$	(1,822	)	$	(477,994	)	$	(479,816	)
Other comprehensive income before reclassifications, before tax(1)	5,071			—			5,071
Amounts reclassified from accumulated other comprehensive loss, before tax(1)	—			13,841			13,841
Income tax expense(1)	1,885			5,472			7,357
Net current-period other comprehensive income, net of tax	3,186			8,369			11,555
Balance as of June 25, 2017	$	1,364		$	(469,625	)	$	(468,261	)

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

The following table summarizes the reclassifications from AOCI for the six months ended June 25, 2017:

(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)	$	(4,850	)	Selling, general & administrative costs
Amortization of actuarial loss(1)	18,691			Selling, general & administrative costs
Total reclassification, before tax(2)	13,841
Income tax expense	5,472			Income tax (benefit)/expense
Total reclassification, net of tax	$	8,369

(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 six months ended June 25, 2017.