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Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information:
Years Ended% Change
(In thousands)December 31,
2022
December 26,
2021
2022 vs. 2021
(52 weeks and six days)(1)
(52 weeks)
Revenues
The New York Times Group$2,222,589 $2,074,877 7.1 %
The Athletic85,732 — *
Total revenues$2,308,321 $2,074,877 11.3 %
Adjusted operating costs
The New York Times Group$1,838,784 $1,739,478 5.7 %
The Athletic121,606 — *
Total adjusted operating costs$1,960,390 $1,739,478 12.7 %
Adjusted operating profit
The New York Times Group$383,805 $335,399 14.4 %
The Athletic(35,874)— *
Total adjusted operating profit$347,931 $335,399 3.7 %
Adjusted operating profit margin % - New York Times Group17.3 %16.2 %110 bps
(1) The results of The Athletic have been included in our Consolidated Financial Statements beginning February 1, 2022.
* Represents a change equal to or in excess of 100% or not meaningful.
Revenues detail by segment
Years Ended% Change
(In thousands)December 31, 2022December 26, 20212022 vs. 2021
(52 weeks and six days)(1)
(52 weeks)
The New York Times Group
Subscription$1,479,209 $1,362,115 8.6 %
Advertising511,320 497,536 2.8 %
Other232,060 215,226 7.8 %
Total$2,222,589 $2,074,877 7.1 %
The Athletic
Subscription$73,153 $— *
Advertising11,968 — *
Other611 — *
Total$85,732 $— *
The New York Times Company
Subscription$1,552,362 $1,362,115 14.0 %
Advertising523,288 497,536 5.2 %
Other232,671 215,226 8.1 %
Total$2,308,321 $2,074,877 11.3 %
(1) The results of The Athletic have been included in our Consolidated Financial Statements beginning February 1, 2022.
* Represents a change equal to or in excess of 100% or not meaningful.
Adjusted operating costs (operating costs before depreciation and amortization, severance and multiemployer pension plan withdrawal costs) detail by segment
Years Ended% Change
(In thousands)December 31, 2022December 26, 20212022 vs. 2021
(52 weeks and six days)(3)
(52 weeks)
The New York Times Group
Cost of revenue (excluding depreciation and amortization)$1,135,518 $1,039,568 9.2 %
Sales and marketing243,936 294,947 (17.3)%
Product development189,027 160,871 17.5 %
Adjusted general and administrative(1)
270,303 244,092 10.7 %
Total$1,838,784 $1,739,478 5.7 %
The Athletic
Cost of revenue (excluding depreciation and amortization)$73,415 $— *
Sales and marketing23,617 — *
Product development15,158 — *
Adjusted general and administrative(2)
9,416 — *
Total$121,606 $— *
The New York Times Company
Cost of revenue (excluding depreciation and amortization)$1,208,933 $1,039,568 16.3 %
Sales and marketing267,553 294,947 (9.3)%
Product development204,185 160,871 26.9 %
Adjusted general and administrative279,719 244,092 14.6 %
Total$1,960,390 $1,739,478 12.7 %
(1) Excludes severance of $4.7 million for the 12 months of 2022 and multiemployer pension withdrawal costs of $4.9 million for the 12 months of 2022. Also excludes severance of $0.9 million for the 12 months of 2021 and multiemployer pension withdrawal costs of $5.2 million for the 12 months of 2021.
(2) Excludes $0.2 million of severance for the 12 months of 2022.
(3) The results of The Athletic have been included in our Consolidated Financial Statements beginning February 1, 2022.
* Represents a change equal to or in excess of 100% or not meaningful.