Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 29, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

Quarterly financial information for each quarter in the years ended December 29, 2019, and December 30, 2018 is included in the following tables.

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.

	2019 Quarters
(In thousands, except per share data)	March 31, 2019		June 30, 2019		September 29, 2019			December 29, 2019		Full Year
	(13 weeks)		(13 weeks)		(13 weeks)			(13 weeks)		(52 weeks)
Revenues	$	439,062	$	436,258	$	428,501		$	508,363	$	1,812,184
Operating costs	404,464		398,325		401,452			430,398		1,634,639
Restructuring charge(1)	—		—		4,008			—		4,008
Gain from pension liability adjustment(2)	—		—		(2,045		)	—		(2,045		)
Operating profit	34,598		37,933		25,086			77,965		175,582
Other components of net periodic benefit costs	1,835		1,833		1,834			1,800		7,302
Interest expense and other, net	1,303		1,514		755			248		3,820
Income from continuing operations before income taxes	31,460		34,586		22,497			75,917		164,460
Income tax expense	1,304		9,415		6,070			7,705		24,494
Net income attributable to The New York Times Company common stockholders	$	30,156	$	25,171	$	16,427		$	68,212	$	139,966
Average number of common shares outstanding:
Basic	165,674		166,152		166,148			166,239		166,042
Diluted	167,129		167,549		167,555			167,728		167,545
Basic earnings per share attributable to The New York Times Company common stockholders:
Net income	$	0.18	$	0.15	$	0.10		$	0.41	$	0.84
Diluted earnings per share attributable to The New York Times Company common stockholders:
Net income	$	0.18	$	0.15	$	0.10		$	0.41	$	0.83
Dividends declared per share	$	0.05	$	0.05	$	0.05		$	0.05	$	0.20

⁽¹⁾  In the third quarter of 2019, the Company recognized a $4.0 million of pre-tax expense related to restructuring charges, including impairment and severance charges related to the closure of our digital marketing agency, HelloSociety, LLC.

⁽²⁾  In the third quarter of 2019, the Company recorded a $2.0 million gain from a multiemployer pension plan liability adjustment.

	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
Gain from pension liability adjustment(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
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/(loss) per share attributable to The New York Times Company common stockholders:
Net income/(loss)	$	0.13		$	0.14		$	0.15		$	0.33		$	0.76
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
Net income/(loss)	$	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 Company Headquarters.

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