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Pension Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Pension Benefits  
Schedule of Allocation of Plan Assets
The asset allocations by asset category as of December 31, 2022, were as follows:
Asset CategoryPercentage RangeActual
Hedging Assets75%-90%77 %
Return-Seeking Assets10%-25%21 %
Cash and Equivalents0%-5%2 %
Pension Plan  
Pension Benefits  
Schedule of Components of Net Periodic Benefit Cost
The components of net periodic pension cost were as follows:
 December 31, 2022December 26, 2021December 27, 2020
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$11,526 $105 $11,631 $9,105 $95 $9,200 $10,429 $119 $10,548 
Interest cost35,350 5,142 40,492 30,517 4,352 34,869 43,710 6,601 50,311 
Expected return on plan assets(55,229)— (55,229)(50,711)— (50,711)(67,146)— (67,146)
Amortization and other costs13,065 6,572 19,637 20,225 7,275 27,500 21,887 6,072 27,959 
Amortization of prior service (credit)/cost(1,945)48 (1,897)(1,945)55 (1,890)(1,945)51 (1,894)
Effect of settlement/curtailment— — — — (163)(163)80,641 (562)80,079 
Net periodic pension cost$2,767 $11,867 $14,634 $7,191 $11,614 $18,805 $87,576 $12,281 $99,857 
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss)
Other changes in plan assets and benefit obligations recognized in other comprehensive income were as follows:
(In thousands)December 31,
2022		December 26,
2021		December 27,
2020
Net actuarial gain$(22,500)$(25,585)$(4,172)
Prior service cost— — — 
Amortization of loss(19,637)(27,500)(27,959)
Amortization of prior service credit1,897 1,890 1,894 
Effect of settlement— — (80,641)
Total recognized in other comprehensive income(40,240)(51,195)(110,878)
Net periodic pension cost14,634 18,805 99,857 
Total recognized in net periodic pension benefit cost and other comprehensive income$(25,606)$(32,390)$(11,021)
Schedule of Changes in Projected Benefit Obligations and Plan Assets
The changes in the benefit obligation and plan assets and other amounts recognized in other comprehensive loss were as follows: 
December 31, 2022December 26, 2021
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All PlansQualified
Plans		Non-
Qualified
Plans		All Plans
Change in benefit obligation
Benefit obligation at beginning of year$1,475,764 $239,190 $1,714,954 $1,549,012 $259,593 $1,808,605 
Service cost11,526 105 11,631 9,105 95 9,200 
Interest cost35,350 5,142 40,492 30,517 4,352 34,869 
Actuarial (gain)/loss(374,109)(46,835)(420,944)(42,883)(7,762)(50,645)
Curtailments— — — — (163)(163)
Benefits paid(72,119)(17,917)(90,036)(69,987)(16,818)(86,805)
Effects of change in currency conversion— (77)(77)— (107)(107)
Benefit obligation at end of year1,076,412 179,608 1,256,020 1,475,764 239,190 1,714,954 
Change in plan assets
Fair value of plan assets at beginning of year1,550,078 — 1,550,078 1,585,221 — 1,585,221 
Actual return on plan assets(343,215)— (343,215)25,651 — 25,651 
Employer contributions11,189 17,917 29,106 9,193 16,818 26,011 
Benefits paid(72,119)(17,917)(90,036)(69,987)(16,818)(86,805)
Fair value of plan assets at end of year1,145,933 — 1,145,933 1,550,078 — 1,550,078 
Net amount recognized$69,521 $(179,608)$(110,087)$74,314 $(239,190)$(164,876)
Amount recognized in the Consolidated Balance Sheets
Pension assets$69,521 $— $69,521 $87,601 $— $87,601 
Current liabilities— (16,361)(16,361)— (16,669)(16,669)
Noncurrent liabilities— (163,247)(163,247)(13,287)(222,521)(235,808)
Net amount recognized$69,521 $(179,608)$(110,087)$74,314 $(239,190)$(164,876)
Amount recognized in accumulated other comprehensive loss
Actuarial loss$438,145 $69,252 $507,397 $426,874 $122,660 $549,534 
Prior service credit(11,007)539 (10,468)(12,952)587 (12,365)
Total$427,138 $69,791 $496,929 $413,922 $123,247 $537,169 
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
Information for pension plans with an accumulated benefit obligation and projected benefit obligation in excess of plan assets was as follows:
(In thousands)December 31,
2022		December 26,
2021
Projected benefit obligation$179,608 $348,831 
Accumulated benefit obligation$179,370 $338,346 
Fair value of plan assets$— $96,354 
Schedule of Assumptions Used
Weighted-average assumptions used in the actuarial computations to determine benefit obligations for qualified pension plans were as follows:
December 31,
2022		December 26,
2021
Discount rate5.66 %2.94 %
Rate of increase in compensation levels3.00 %3.00 %
The rate of increase in compensation levels is applicable only for the APP that has not been frozen.
Weighted-average assumptions used in the actuarial computations to determine net periodic pension cost for qualified plans were as follows:
December 31,
2022		December 26,
2021		December 27,
2020
Discount rate for determining projected benefit obligation2.94 %2.64 %3.30 %
Discount rate in effect for determining service cost3.14 %3.87 %3.67 %
Discount rate in effect for determining interest cost2.45 %2.02 %2.70 %
Rate of increase in compensation levels3.00 %3.00 %3.00 %
Expected long-term rate of return on assets3.75 %3.74 %4.59 %
Weighted-average assumptions used in the actuarial computations to determine benefit obligations for non-qualified plans were as follows:
December 31,
2022		December 26,
2021
Discount rate5.64 %2.81 %
Rate of increase in compensation levels3.00 %2.50 %
The rate of increase in compensation levels is applicable only for the foreign plan that has not been frozen.
Weighted-average assumptions used in the actuarial computations to determine net periodic pension cost for non-qualified plans were as follows:
December 31,
2022		December 26,
2021		December 27,
2020
Discount rate for determining projected benefit obligation2.81 %2.39 %3.17 %
Discount rate in effect for determining interest cost2.24 %1.74 %2.78 %
Rate of increase in compensation levels2.50 %2.50 %2.50 %
Schedule of Allocation of Plan Assets
The following asset allocation guidelines apply to the Return-Seeking Assets as of December 31, 2022:
Asset CategoryPercentage RangeActual
Public Equity70%-90%83 %
Growth Fixed Income0%-15%0 %
Alternatives 0%-15%13 %
Cash0%-10%4 %
The asset allocations by asset category for both Liability-Hedging and Return-Seeking Assets, as of December 31, 2022, were as follows:
Asset CategoryPercentage RangeActual
Liability-Hedging85.5%-90.5%86 %
Public Equity6.7%-13.1%12 %
Growth Fixed Income0%-2%0 %
Alternatives0%-2%2 %
Cash0%-1%0 %
The fair value of the assets underlying the Pension Plan and the joint-sponsored APP by asset category are as follows:
December 31, 2022
(In thousands)Quoted Prices
Markets for
Identical Assets		Significant
Observable
Inputs		Significant
Unobservable
Inputs
Investment
Measured at Net
Asset Value(2)
 
Asset Category(Level 1)(Level 2)(Level 3)Total
Equity Securities:
U.S. Equities$10,548 $— $— $— $10,548 
International Equities23,448 — — — 23,448 
Registered Investment Companies171,310 — — — 171,310 
Common/Collective Funds(1)
— — — 288,489 288,489 
Fixed Income Securities:
Corporate Bonds— 531,033 — — 531,033 
U.S. Treasury and Other Government Securities— 46,279 — — 46,279 
Municipal and Provincial Bonds— 27,851 — — 27,851 
Other— 12,781 — — 12,781 
Cash and Cash Equivalents— — — 15,064 15,064 
Private Equity— — — 4,766 4,766 
Hedge Fund— — — 14,364 14,364 
Assets at Fair Value$205,306 $617,944 $— $322,683 $1,145,933 
(1)The underlying assets of the common/collective funds primarily consist of equity and fixed income securities. The fair value in the above table represents our ownership share of the NAV of the underlying funds.
(2)Certain investments that are measured at fair value using the NAV per share (or its equivalent) have not been classified in the fair value hierarchy.
December 26, 2021
(In thousands)Quoted Prices
Markets for
Identical Assets		Significant
Observable
Inputs		Significant
Unobservable
Inputs
Investment
Measured at Net
Asset Value(2)
 
Asset Category(Level 1)(Level 2)(Level 3)Total
Equity Securities:
U.S. Equities$12,739 $— $— $— $12,739 
International Equities29,453 — — — 29,453 
Registered Investment Companies(3)
270,662 — — — 270,662 
Common/Collective Funds(1) (3)
— — — 370,042 370,042 
Fixed Income Securities:
Corporate Bonds— 710,413 — — 710,413 
U.S. Treasury and Other Government Securities— 52,520 — — 52,520 
Municipal and Provincial Bonds— 37,922 — — 37,922 
Other— 36,630 — — 36,630 
Cash and Cash Equivalents— — — 7,229 7,229 
Private Equity— — — 7,014 7,014 
Hedge Fund— — — 15,454 15,454 
Assets at Fair Value$312,854 $837,485 $— $399,739 $1,550,078 
(1)The underlying assets of the common/collective funds primarily consist of equity and fixed income securities. The fair value in the above table represents our ownership share of the NAV of the underlying funds.
(2)Certain investments that are measured at fair value using the NAV per share (or its equivalent) have not been classified in the fair value hierarchy.
(3)Certain prior year amounts have been reclassified to conform with current period presentation.
Schedule of Expected Benefit Payments
The following benefit payments, which reflect future service for plans that have not been frozen, are expected to be paid:
 Plans 
(In thousands)QualifiedNon-
Qualified		Total
2023$73,742 $16,776 $90,518 
202475,741 16,541 92,282 
202577,742 16,266 94,008 
202679,180 16,069 95,249 
202780,587 15,899 96,486 
2028-2032(1)
413,683 73,871 487,554 
(1)While benefit payments under these plans are expected to continue beyond 2032, we have presented in this table only those benefit payments estimated over the next 10 years.
Schedule of Multi Employer Plans Our participation in significant plans for the fiscal period ended December 31, 2022, is outlined in the table below. The “EIN/Pension Plan Number” column provides the Employer Identification Number (“EIN”) and the three-digit plan number. The zone status is based on the latest information that we received from the plan and is certified by the plan’s actuary. A plan is generally classified in critical status if a funding deficiency is
projected within four years or five years, depending on other criteria. A plan in critical status is classified in critical and declining status if it is projected to become insolvent in the next 15 or 20 years, depending on other criteria.
A plan is classified in endangered status if its funded percentage is less than 80% or a funding deficiency is projected within seven years. If the plan satisfies both of these triggers, it is classified in seriously endangered status. A plan not classified in any other status is classified in the green zone. The “FIP/RP Status Pending/Implemented” column indicates plans for which a funding improvement plan (“FIP”) or a rehabilitation plan (“RP”) is either pending or has been implemented. The “Surcharge Imposed” column includes plans in a red zone status that are required to pay a surcharge in excess of regular contributions. The last column lists the expiration date(s) of the collective bargaining agreement(s) to which the plans are subject.
EIN/Pension Plan Number Pension Protection Act Zone StatusFIP/RP Status Pending/Implemented(In thousands) Contributions of the CompanySurcharge Imposed Collective Bargaining Agreement Expiration Date
Pension Fund20222021202220212020
CWA/ITU Negotiated Pension Plan13-6212879-001Critical and Declining as of 1/01/22Critical and Declining as of 1/01/21Implemented$328 $364 $384 No(1)
Newspaper and Mail Deliverers’-Publishers’ Pension Fund(2)
13-6122251-001Green as of 6/01/22Green as of 6/01/21N/A804 912 1,010 No3/30/2026
GCIU-Employer Retirement Benefit Plan91-6024903-001Critical and Declining as of 1/01/22Critical and Declining as of 1/01/21Implemented56 48 65 No3/30/2026
Pressmen’s Publishers’ Pension Fund(3)
13-6121627-001Green as of 4/01/22Green as of 4/01/21N/A1,447 1,337 1,328  No3/30/2027
Paper Handlers’-Publishers’ Pension Fund13-6104795-001Critical and Declining as of 4/01/22Critical and Declining as of 4/01/21Implemented96 103 101 Yes3/30/2026
Contributions for individually significant plans$2,731 $2,764 $2,888 
Contributions for a plan not individually significant$36 $33 $24 
Total Contributions$2,767 $2,797 $2,912 
(1)There are two collective bargaining agreements requiring contributions to this plan: Mailers, which expires March 30, 2023, and Typographers, which expires March 30, 2025.
(2)Elections under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010: Extended Amortization of Net Investment Losses (IRC Section 431(b)(8)(A)) and the Expanded Smoothing Period (IRC Section 431(b)(8)(B)).
(3)The plan sponsor elected two provisions of funding relief under the Preservation of Access to Care for Medicare Beneficiaries and Pension Relief Act of 2010 to more slowly absorb the 2008 plan year investment loss, retroactively effective as of April 1, 2009. These included extended amortization under the prospective method and 10-year smoothing of the asset loss for the plan year beginning April 1, 2008.
The rehabilitation plan for the GCIU-Employer Retirement Benefit Plan includes minimum annual contributions no less than the total annual contribution made by us from September 1, 2008 through August 31, 2009.
The Company was listed in the plans’ respective Forms 5500 as providing more than 5% of the total contributions for the following plans and plan years:
Pension FundYear Contributions to Plan Exceeded More Than 5% of Total Contributions (as of Plan’s Year-End)
CWA/ITU Negotiated Pension Plan12/31/2021 & 12/31/2020
Newspaper and Mail Deliverers’-Publishers’ Pension Fund
5/31/2021 & 5/31/2020(1)
Pressmen’s Publisher’s Pension Fund3/31/2022 & 3/31/2021
Paper Handlers’-Publishers’ Pension Fund3/31/2022 & 3/31/2021
(1) Form 5500 for the plan year ended 5/31/22 was not available as of the date we filed our financial statements.