Quarterly financial information for each quarter in the years ended December 30, 2018, and December 31, 2017 is included in the following tables. See Note 14 of the Notes to the Consolidated Financial Statements for additional information regarding discontinued operations.

Earnings/(loss) per share amounts for the quarters do not necessarily equal the respective year-end amounts for earnings or loss per share due to the weighted-average number of shares outstanding used in the computations for the respective periods. Earnings/(loss) per share amounts for the respective quarters and years have been computed using the average number of common shares outstanding.

One of our largest sources of revenue is advertising. Our business has historically experienced higher advertising volume in the fourth quarter than the remaining quarters because of holiday advertising.



	2018 Quarters
(In thousands, except per share data)	April 1, 2018			July 1, 2018			September 30, 2018			December 30, 2018			Full Year
	(13 weeks)			(13 weeks)			(13 weeks)			(13 weeks)			(52 weeks)
Revenues	$	413,948		$	414,560		$	417,346		$	502,744		$	1,748,598
Operating costs	378,005			373,306			380,754			426,713			1,558,778
Headquarters redesign and consolidation⁽¹⁾	1,888			1,252			—			1,364			4,504
Multiemployer pension and other contractual gain⁽²⁾	—			—			(4,851		)	—			(4,851		)
Operating profit	34,055			40,002			41,443			74,667			190,167
Other components of net periodic benefit costs	2,028			1,863			2,335			2,048			8,274
Gain/(loss) from joint ventures	15			(8		)	(16		)	10,773			10,764
Interest expense and other, net	4,877			4,536			4,026			3,127			16,566
Income from continuing operations before income taxes	27,165			33,595			35,066			80,265			176,091
Income tax expense	5,251			9,999			10,092			23,289			48,631
Net income	21,914			23,596			24,974			56,976			127,460
Net (income)/loss attributable to the noncontrolling interest	(2		)	1			2			(1,777		)	(1,776		)
Net income attributable to The New York Times Company common stockholders	$	21,912		$	23,597		$	24,976		$	55,199		$	125,684
Amounts attributable to The New York Times Company common stockholders:
Income from continuing operations	$	21,912		$	23,597		$	24,976		$	55,199		$	125,684
Net income	$	21,912		$	23,597		$	24,976		$	55,199		$	125,684
Average number of common shares outstanding:
Basic	164,094			165,027			165,064			165,154			164,845
Diluted	166,237			166,899			166,966			167,249			166,939
Basic earnings per share attributable to The New York Times Company common stockholders:
Net income	$	0.13		$	0.14		$	0.15		$	0.33		$	0.76
Diluted earnings per share attributable to The New York Times Company common stockholders:
Net income	$	0.13		$	0.14		$	0.15		$	0.33		$	0.75
Dividends declared per share	$	0.04		$	0.04		$	0.04		$	0.04		$	0.16


⁽¹⁾	We recognized expenses related to the redesign and consolidation of space in our headquarters building.


⁽²⁾	In the third quarter of 2018, the Company recorded a $4.9 million gain from a multiemployer pension plan liability adjustment.



	2017 Quarters
(In thousands, except per share data)	March 26, 2017			June 25, 2017			September 24, 2017			December 31, 2017			Full Year
	(13 weeks)			(13 weeks)			(13 weeks)			(14 weeks)			(53 weeks)
Revenues	$	398,804		$	407,074		$	385,635		$	484,126		$	1,675,639
Operating costs⁽¹⁾	368,587			378,613			351,273			394,805			1,493,278
Headquarters redesign and consolidation⁽²⁾	2,402			1,985			2,542			3,161			10,090
Multiemployer pension and other contractual gains⁽³⁾	—			—			—			(4,320		)	(4,320		)
Operating profit⁽¹⁾	27,815			26,476			31,820			90,480			176,591
Other components of net periodic benefit (income)/costs⁽¹⁾	(1,194		)	(1,193		)	(1,193		)	67,805			64,225
Gain/(loss) from joint ventures	173			(266		)	31,557			(12,823		)	18,641
Interest expense and other, net	5,325			5,133			4,660			4,665			19,783
Income from continuing operations before income taxes	23,857			22,270			59,910			5,187			111,224
Income tax expense⁽⁴⁾	10,742			6,711			23,420			63,083			103,956
Income/(loss) from continuing operations	13,115			15,559			36,490			(57,896		)	7,268
(Loss)/income from discontinued operations, net of income taxes	—			—			(488		)	57			(431		)
Net income/(loss)	13,115			15,559			36,002			(57,839		)	6,837
Net income attributable to the noncontrolling interest	66			40			(3,673		)	1,026			(2,541		)
Net income/(loss) attributable to The New York Times Company common stockholders	$	13,181		$	15,599		$	32,329		$	(56,813	)	$	4,296
Amounts attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	13,181		$	15,599		$	32,817		$	(56,870	)	$	4,727
(Loss)/income from discontinued operations, net of income taxes	—			—			(488		)	57			(431		)
Net income/(loss)	$	13,181		$	15,599		$	32,329		$	(56,813	)	$	4,296
Average number of common shares outstanding:
Basic	161,402			161,787			162,173			162,311			161,926
Diluted	162,592			163,808			164,405			162,311			164,263
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	0.08		$	0.10		$	0.20		$	(0.35	)	$	0.03
(Loss)/income from discontinued operations, net of income taxes	—			—			—			—			—
Net income/(loss)	$	0.08		$	0.10		$	0.20		$	(0.35	)	$	0.03
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
Income/(loss) from continuing operations	$	0.08		$	0.09		$	0.20		$	(0.35	)	$	0.03
(Loss)/income from discontinued operations, net of income taxes	—			—			—			—			—
Net income/(loss)	$	0.08		$	0.09		$	0.20		$	(0.35	)	$	0.03
Dividends declared per share	$	0.04		$	—		$	0.08		$	0.04		$	0.16

⁽¹⁾

As a result of the adoption of ASU 2017-07 during the first quarter of 2018, the service cost component of net periodic benefit costs/(income) from our pension and other postretirement benefits plans will continue to be presented within operating costs, while the other components of net periodic benefits costs/(income) such as interest cost, amortization of prior service credit and gains or losses from our pension and other postretirement benefits plans will be separately presented outside of “Operating costs” in the new line item “Other components of net periodic benefits costs/(income)”. The Company has recast the Consolidated Statement of Operations for the first, second, third and fourth quarter of 2017 to conform with the current period presentation.


⁽²⁾	We recognized expenses related to the redesign and consolidation of space in our headquarters building.


⁽³⁾	In the fourth quarter of 2017, the Company recorded a gain of $4.3 million in connection with the settlement of contractual funding obligation.


⁽⁴⁾	We recorded a $68.7 million charge in the fourth quarter of 2017 primarily attributable to the remeasurement of our net deferred tax assets required as a result of tax legislation.