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Segment Information (Tables)
12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information:
Years Ended% Change
(In thousands)December 31,
2023
December 31,
2022
2023 vs. 2022
(52 weeks)
(52 weeks and five days)(1)
Revenues
NYTG$2,295,537 $2,223,676 3.2 %
The Athletic131,271 84,645 55.1 %
Intersegment Eliminations(2)
(656)— *
Total revenues$2,426,152 $2,308,321 5.1 %
Adjusted operating profit
NYTG$421,281 $389,049 8.3 %
The Athletic(31,430)(41,118)(23.6)%
Total adjusted operating profit$389,851 $347,931 12.0 %
Less:
Other components of net periodic benefit costs(2,737)6,659 *
Depreciation and amortization86,115 82,654 4.2 %
Severance7,582 4,669 62.4 %
Multiemployer pension plan withdrawal costs5,248 4,871 7.7 %
Acquisition-related costs 34,712 *
Impairment charges15,239 4,069 *
Multiemployer pension plan liability adjustment(605)14,989 *
Add:
Gain from joint ventures2,477 — *
Interest income and other, net21,102 40,691 (48.1)%
Income before income taxes$302,588 $235,999 28.2 %
(1) The results of The Athletic have been included in our Consolidated Financial Statements beginning February 1, 2022.
(2) Intersegment eliminations (“I/E”) related to content licensing.
* Represents a change equal to or in excess of 100% or not meaningful.
Revenues detail by segment
Years Ended% Change
(In thousands)December 31, 2023December 31, 20222023 vs. 2022
(52 weeks)
(52 weeks and five days)(1)
NYTG
Subscription$1,555,705 $1,480,295 5.1 %
Advertising477,261 511,321 (6.7)%
Other262,571 232,060 13.1 %
Total$2,295,537 $2,223,676 3.2 %
The Athletic
Subscription$100,448 $72,067 39.4 %
Advertising27,945 11,967 *
Other2,878 611 *
Total$131,271 $84,645 55.1 %
I/E(2)
$(656)$— *
The New York Times Company
Subscription$1,656,153 $1,552,362 6.7 %
Advertising505,206 523,288 (3.5)%
Other264,793 232,671 13.8 %
Total$2,426,152 $2,308,321 5.1 %
(1) The results of The Athletic have been included in our Consolidated Financial Statements beginning February 1, 2022.
(2) I/E related to content licensing recorded in Other revenues.
* Represents a change equal to or in excess of 100% or not meaningful.