NEW YORK TIMES CO, 10-Q filed on 11/4/2024
Quarterly Report
v3.24.3
Cover Page - shares
 9 Months Ended
Sep. 30, 2024
Nov. 01, 2024
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2024  
Document Transition Report false  
Entity File Number 1-5837  
Entity Registrant Name THE NEW YORK TIMES COMPANY  
Entity Incorporation, State or Country Code NY  
Entity Tax Identification Number 13-1102020  
Entity Address, Address Line One 620 Eighth Avenue  
Entity Address, City or Town New York  
Entity Address, State or Province NY  
Entity Address, Postal Zip Code 10018  
City Area Code 212  
Local Phone Number 556-1234  
Title of 12(b) Security Class A Common Stock  
Trading Symbol NYT  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0000071691  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2024  
Document Fiscal Period Focus Q3  
Amendment Flag false  
Class A Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   163,173,722
Class B Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   780,724
v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 204,620 $ 289,472
Short-term marketable securities 288,325 162,094
Accounts receivable (net of allowances of $11,770 as of September 30, 2024 and $12,800 as of December 31, 2023) 188,947 242,488
Prepaid expenses 44,927 59,712
Other current assets 68,161 27,887
Total current assets 794,980 781,653
Other assets    
Long-term marketable securities 327,435 257,633
Property, plant and equipment (less accumulated depreciation and amortization of $903,880 as of September 30, 2024 and $870,329 as of December 31, 2023) 495,056 514,245
Goodwill 416,782 416,098
Intangible assets, net 264,810 285,490
Deferred income taxes 131,497 114,505
Miscellaneous assets 331,541 344,971
Total assets 2,762,101 2,714,595
Current liabilities    
Accounts payable 137,104 116,942
Accrued payroll and other related liabilities 146,105 174,316
Unexpired subscriptions revenue 177,215 172,772
Accrued expenses and other 129,174 147,529
Total current liabilities 589,598 611,559
Other liabilities    
Pension benefits obligation 211,334 219,451
Postretirement benefits obligation 18,770 19,402
Other 90,347 100,964
Total other liabilities 320,451 339,817
Common stock of $.10 par value:    
Additional paid-in capital 334,601 301,287
Retained earnings 2,222,977 2,117,839
Common stock held in treasury, at cost (381,569) (320,820)
Accumulated other comprehensive loss, net of income taxes:    
Foreign currency translation adjustments 1,087 910
Funded status of benefit plans (346,021) (353,286)
Net unrealized gain/(loss) on available-for-sale securities 3,123 (486)
Total accumulated other comprehensive loss, net of income taxes (341,811) (352,862)
Total stockholders’ equity 1,852,052 1,763,219
Total liabilities and stockholders’ equity 2,762,101 2,714,595
Class A Common Stock    
Common stock of $.10 par value:    
Common stock value 17,776 17,697
Class B Common Stock    
Common stock of $.10 par value:    
Common stock value $ 78 $ 78
v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Accounts receivable, allowance for credit loss $ 11,770 $ 12,800
Accumulated depreciation and amortization $ 903,880 $ 870,329
Common stock of $.10 par value:    
Common stock, par value (in usd per share) $ 0.10 $ 0.10
Class A Common Stock    
Common stock of $.10 par value:    
Authorized shares (in shares) 300,000,000 300,000,000
Issued shares (in shares) 177,746,886 176,951,162
Treasury shares (in shares) 14,442,932 13,189,925
Class B Common Stock    
Common stock of $.10 par value:    
Authorized shares (in shares) 780,724 780,724
Issued shares (in shares) 780,724 780,724
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Total revenues $ 640,178 $ 598,345 $ 1,859,290 $ 1,749,937
Operating costs        
Cost of revenue (excluding depreciation and amortization) 331,839 311,135 971,480 927,910
Sales and marketing 69,131 62,635 195,568 191,910
Product development 61,030 57,433 186,435 170,542
General and administrative 76,209 81,870 231,894 235,194
Depreciation and amortization 20,622 21,475 61,865 64,173
Generative AI Litigation Costs 4,620 0 7,592 0
Impairment charges 0 2,503 0 15,239
Multiemployer pension plan liability adjustment 0 (2,273) 0 (2,273)
Total operating costs 563,451 534,778 1,654,834 1,602,695
Operating profit 76,727 63,567 204,456 147,242
Other components of net periodic benefit (costs)/income (1,050) 684 (3,124) 2,053
Interest income and other, net 9,366 5,736 26,449 13,426
Interest income 9,626 6,016 27,212 14,182
Income before income taxes 85,043 69,987 227,781 162,721
Income tax expense 20,900 16,372 57,681 40,211
Net income $ 64,143 $ 53,615 $ 170,100 $ 122,510
Average number of common shares outstanding:        
Basic (in shares) 164,419 164,568 164,535 164,752
Diluted (in shares) 165,847 165,406 165,834 165,436
Basic earnings per share attributable to common stockholders (in usd per share) $ 0.39 $ 0.33 $ 1.03 $ 0.74
Diluted earnings per share attributable to common stockholders (in usd per share) 0.39 0.32 1.03 0.74
Dividends declared per share (in usd per share) $ 0.13 $ 0.11 $ 0.39 $ 0.33
Subscription        
Revenues        
Total revenues $ 453,327 $ 418,577 $ 1,321,654 $ 1,225,709
Advertising        
Revenues        
Total revenues 118,370 117,113 341,244 341,124
Other        
Revenues        
Total revenues $ 68,481 $ 62,655 $ 196,392 $ 183,104
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]        
Net income $ 64,143 $ 53,615 $ 170,100 $ 122,510
Other comprehensive income, before tax:        
Gain/(loss) on foreign currency translation adjustments 2,675 (2,333) 241 (1,199)
Pension and postretirement benefits obligation 3,287 1,550 9,890 4,656
Net unrealized gain on available-for-sale securities 5,556 1,886 4,889 5,984
Other comprehensive income, before tax 11,518 1,103 15,020 9,441
Income tax expense 3,017 290 3,969 2,463
Other comprehensive income, net of tax 8,501 813 11,051 6,978
Comprehensive income attributable to common stockholders $ 72,644 $ 54,428 $ 181,151 $ 129,488
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Total
Total New York Times Company Stockholders’ Equity
Capital Stock - Class A and Class B Common
Additional Paid-in Capital
Retained Earnings
Common Stock Held in Treasury, at Cost
Accumulated Other Comprehensive Loss, Net of Income Taxes
Non- controlling Interest
Balance, beginning of period at Dec. 31, 2022 $ 1,599,972 $ 1,597,967 $ 17,707 $ 255,515 $ 1,958,859 $ (276,267) $ (357,847) $ 2,005
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 122,510 122,510     122,510      
Dividends (55,065) (55,065)     (55,065)      
Other comprehensive (loss) income 6,978 6,978         6,978  
Issuance of stock-based awards, net of withholding taxes:                
Restricted stock units vested - Class A shares (11,182) (11,182) 44 (11,226)        
Performance-based awards - Class A shares (3,098) (3,098) 10 (3,108)        
Share repurchases - Class A shares (43,591) (43,591)       (43,591)    
Stock-based compensation 38,716 38,716   38,716        
Balance, end of period at Sep. 30, 2023 1,655,240 1,653,235 17,761 279,897 2,026,304 (319,858) (350,869) 2,005
Balance, beginning of period at Jun. 30, 2023 1,607,220 1,605,215 17,751 267,975 1,991,029 (319,858) (351,682) 2,005
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 53,615 53,615     53,615      
Dividends (18,340) (18,340)     (18,340)      
Other comprehensive (loss) income 813 813         813  
Issuance of stock-based awards, net of withholding taxes:                
Restricted stock units vested - Class A shares (2,631) (2,631) 10 (2,641)        
Stock-based compensation 14,563 14,563   14,563        
Balance, end of period at Sep. 30, 2023 1,655,240 1,653,235 17,761 279,897 2,026,304 (319,858) (350,869) 2,005
Balance, beginning of period at Dec. 31, 2023 1,763,219 1,763,219 17,775 301,287 2,117,839 (320,820) (352,862) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 170,100 170,100     170,100      
Dividends (64,962) (64,962)     (64,962)      
Other comprehensive (loss) income 11,051 11,051         11,051  
Issuance of stock-based awards, net of withholding taxes:                
Restricted stock units vested - Class A shares (18,388) (18,388) 60 (18,448)        
Performance-based awards - Class A shares (2,688) (2,688) 8 (2,696)        
Employee stock purchase plan – Class A shares 4,589 4,589 11 4,578        
Share repurchases - Class A shares (60,749) (60,749)       (60,749)    
Stock-based compensation 49,880 49,880   49,880        
Balance, end of period at Sep. 30, 2024 1,852,052 1,852,052 17,854 334,601 2,222,977 (381,569) (341,811) 0
Balance, beginning of period at Jun. 30, 2024 1,804,986 1,804,986 17,848 320,111 2,180,425 (363,086) (350,312) 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income 64,143 64,143     64,143      
Dividends (21,591) (21,591)     (21,591)      
Other comprehensive (loss) income 8,501 8,501         8,501  
Issuance of stock-based awards, net of withholding taxes:                
Restricted stock units vested - Class A shares (2,494) (2,494) 6 (2,500)        
Share repurchases - Class A shares (18,483) (18,483)       (18,483)    
Stock-based compensation 16,990 16,990   16,990        
Balance, end of period at Sep. 30, 2024 $ 1,852,052 $ 1,852,052 $ 17,854 $ 334,601 $ 2,222,977 $ (381,569) $ (341,811) $ 0
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]        
Restricted stock unit vested (in shares) 64,699 87,054 597,221 416,289
Performance-based awards (in shares)     85,703 106,419
Employee stock purchase plan (in shares)     112,800  
Share repurchases (in shares) 341,456   1,253,007 1,161,017
v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 170,100 $ 122,510
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 61,865 64,173
Amortization of right of use asset 6,773 7,184
Stock-based compensation expense 49,880 38,716
Multiemployer pension plan liability adjustment 0 (2,273)
Impairment charges 0 15,239
Change in long-term retirement benefit obligations (18,110) (21,339)
Contingent consideration fair value adjustment 294 2,813
Other – net (4,493) (2,839)
Changes in operating assets and liabilities:    
Accounts receivable – net 53,541 53,494
Other assets 7,035 9
Accounts payable, accrued payroll and other liabilities (77,094) (59,698)
Unexpired subscriptions 4,443 690
Other noncurrent assets and liabilities 4,582 5,421
Net cash provided by operating activities 258,816 224,100
Cash flows from investing activities    
Purchases of marketable securities (337,107) (186,018)
Maturities of marketable securities 159,464 100,515
Capital expenditures (21,115) (16,539)
Other – net 1,299 4,754
Net cash used in investing activities (197,459) (97,288)
Long-term obligations:    
Dividends paid (61,500) (51,360)
Payment of contingent consideration (1,724) (2,586)
Capital shares:    
Repurchases (60,341) (43,591)
Share-based compensation tax withholding (21,076) (14,279)
Net cash used in financing activities (144,641) (111,816)
Net (decrease)/increase in cash, cash equivalents and restricted cash (83,284) 14,996
Effect of exchange rate changes on cash (1,025) (310)
Cash, cash equivalents and restricted cash at the beginning of the period 303,172 235,173
Cash, cash equivalents and restricted cash at the end of the period $ 218,863 $ 249,859
v3.24.3
Basis of Presentation
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
BASIS OF PRESENTATION BASIS OF PRESENTATION
In the opinion of management of The New York Times Company (the “Company”), the Condensed Consolidated Financial Statements present fairly the financial position of the Company as of September 30, 2024, and December 31, 2023, and the results of operations, changes in stockholders’ equity and cash flows of the Company for the periods ended September 30, 2024, and September 30, 2023. The Company and its consolidated subsidiaries are referred to collectively as “we,” “us” or “our.” All adjustments necessary for a fair presentation have been included and are of a normal and recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The financial statements were prepared in accordance with the requirements of the United States Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from these interim financial statements. These financial statements, therefore, should be read in conjunction with the Consolidated Financial Statements and related Notes included in our Annual Report on Form 10-K for the year ended December 31, 2023. Due to the seasonal nature of our business, operating results for the interim periods are not necessarily indicative of a full year’s operations. The first nine months of 2024 includes an additional day compared with the first nine months of 2023 as a result of 2024 being a leap year.
The Company has two reportable segments: The New York Times Group (“NYTG”) and The Athletic.
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements. Actual results could differ from these estimates.
v3.24.3
Summary of Significant Accounting Policies
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
As of September 30, 2024, our significant accounting policies, which are detailed in our Annual Report on Form 10-K for the year ended December 31, 2023, have not changed.
Recently Issued Accounting Pronouncements
Accounting Standard UpdatesTopicEffective PeriodSummary
2023-09Income Taxes (Topic 740): Improvements to Income Tax DisclosuresFiscal years, beginning after December 15, 2024. Early adoption is permitted.Requires entities to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. We are currently in the process of evaluating the impact of this guidance on the Company’s disclosures.
2023-07Segment Reporting (Topic 280): Improvements to Reportable Segment DisclosuresFiscal years, beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted.Requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity’s CODM. The amendments in this update also expand the interim segment disclosure requirements. We expect this ASU to impact only our disclosures with no impact to our statement of operations, cash flows and balance sheet.
The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.
v3.24.3
Revenue
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
We generate revenues principally from subscriptions and advertising.
Subscription revenues consist of revenues from subscriptions to our digital and print products (which include our news product, as well as The Athletic and our Cooking, Games and Wirecutter products), and single-copy and bulk sales of our print products. Subscription revenues are based on both the number of digital-only subscriptions and copies of the printed newspaper sold, and the rates charged to the respective customers.
Advertising revenue is generated principally from advertisers (such as technology, financial and luxury goods companies) promoting products, services or brands on digital platforms in the form of display ads, audio and video, and in print in the form of column-inch ads. Advertising revenue is generated primarily from offerings sold directly to marketers by our
advertising sales teams. A smaller proportion of our total advertising revenues is generated through open-market programmatic auctions run by third-party ad exchanges. Advertising revenue is primarily determined by the volume (e.g., impressions), rate and mix of advertisements. Digital advertising includes our core digital advertising business and other digital advertising. Our core digital advertising business includes direct-sold website, mobile application, podcast, email and video advertisements (including direct-sold programmatic advertising). Direct-sold display advertising, a component of core digital advertising, includes offerings on websites and mobile applications sold directly to marketers by our advertising sales teams. Other digital advertising includes open-market programmatic advertising and creative services fees. Print advertising includes revenue from column-inch ads and classified advertising as well as preprinted advertising, also known as freestanding inserts. NYTG has revenue from all categories discussed above. The Athletic has revenue from direct-sold display advertising, podcast, email and video advertisements (including direct-sold programmatic advertising) and open-market programmatic advertising. There is no print advertising revenue generated from The Athletic.
Other revenues primarily consist of revenues from licensing, Wirecutter affiliate referrals, commercial printing, the leasing of floors in the New York headquarters building located at 620 Eighth Avenue, New York, New York (the “Company Headquarters”), our live events business, books, television and film, retail commerce and our student subscription sponsorship program.
Subscription, advertising and other revenues were as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024As % of totalSeptember 30, 2023As % of totalSeptember 30, 2024As % of totalSeptember 30, 2023As % of total
Subscription$453,327 70.8 %$418,577 70.0 %$1,321,654 71.1 %$1,225,709 70.0 %
Advertising118,370 18.5 %117,113 19.6 %341,244 18.4 %341,124 19.5 %
Other (1)
68,481 10.7 %62,655 10.4 %196,392 10.5 %183,104 10.5 %
Total
$640,178 100.0 %$598,345 100.0 %$1,859,290 100.0 %$1,749,937 100.0 %
(1) Other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was $6.6 million and $6.8 million for the third quarters of 2024 and 2023, respectively, and $19.9 million and $20.5 million for the first nine months of 2024 and 2023, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the third quarters and first nine months ended September 30, 2024, and September 30, 2023:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024As % of totalSeptember 30, 2023As % of totalSeptember 30, 2024As % of totalSeptember 30, 2023As % of total
Digital-only subscription revenues (1)
$322,198 71.1 %$282,228 67.4 %$919,677 69.6 %$810,770 66.1 %
Print subscription revenues (2)
131,129 28.9 %136,349 32.6 %401,977 30.4 %414,939 33.9 %
Total subscription revenues$453,327 100.0 %$418,577 100.0 %$1,321,654 100.0 %$1,225,709 100.0 %
(1) Includes revenue from bundled and standalone subscriptions to our news product, as well as to The Athletic and our Cooking, Games and Wirecutter products.
(2) Includes domestic home-delivery subscriptions, which include access to our digital products. Also includes single-copy, NYT International and Other subscription revenues.
The following table summarizes digital and print advertising revenues, which are components of advertising revenues above, for the third quarters and first nine months ended September 30, 2024, and September 30, 2023:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024As % of totalSeptember 30, 2023As % of totalSeptember 30, 2024As % of totalSeptember 30, 2023As % of total
Advertising revenues:
Digital$81,564 68.9 %$75,001 64.0 %$224,166 65.7 %$210,076 61.6 %
Print36,806 31.1 %42,112 36.0 %117,078 34.3 %131,048 38.4 %
Total advertising$118,370 100.0 %$117,113 100.0 %$341,244 100.0 %$341,124 100.0 %
Performance Obligations
We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of September 30, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $174 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $33 million, $91 million and $50 million will be recognized in the remainder of 2024, 2025 and thereafter through 2030, respectively.
Unexpired Subscriptions
Payments for subscriptions are typically due upfront and the revenue is recognized ratably over the subscription period. The proceeds are recorded within Unexpired subscriptions revenue in the Condensed Consolidated Balance Sheet. Total unexpired subscriptions as of December 31, 2023, were $172.8 million, of which approximately $161 million was recognized as revenues during the nine months ended September 30, 2024.
Contract Assets
As of September 30, 2024, and December 31, 2023, the Company had $3.3 million and $3.5 million, respectively, in contract assets recorded in the Condensed Consolidated Balance Sheets related to digital archiving licensing revenue. The contract asset is reclassified to Accounts receivable when the customer is invoiced based on the contractual billing schedule.
v3.24.3
Marketable Securities
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES
The Company accounts for its marketable securities as available for sale (“AFS”). The Company recorded $4.2 million and $0.7 million of pre-tax net unrealized gains and losses, respectively, in Accumulated other comprehensive income (“AOCI”) as of September 30, 2024, and December 31, 2023, respectively.
The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of September 30, 2024, and December 31, 2023:
September 30, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
U.S. Treasury securities$167,580 $614 $(8)$168,186 
Corporate debt securities114,689 527 (10)115,206 
U.S. governmental agency securities4,945 — (12)4,933 
Total short-term AFS securities$287,214 $1,141 $(30)$288,325 
Long-term AFS securities
Corporate debt securities$186,724 $1,906 $(13)$188,617 
U.S. Treasury securities137,605 1,228 (15)138,818 
Total long-term AFS securities$324,329 $3,134 $(28)$327,435 
December 31, 2023
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
U.S. Treasury securities$48,721 $55 $(667)$48,109 
Corporate debt securities109,891 6 (1,828)108,069 
U.S. governmental agency securities6,000 — (84)5,916 
Total short-term AFS securities$164,612 $61 $(2,579)$162,094 
Long-term AFS securities
Corporate debt securities$103,061 $886 $(5)$103,942 
U.S. Treasury securities148,878 1,023 (42)149,859 
U.S. governmental agency securities3,857 — (25)3,832 
Total long-term AFS securities$255,796 $1,909 $(72)$257,633 
The following tables represent the AFS securities as of September 30, 2024, and December 31, 2023, that were in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:
September 30, 2024
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
U.S. Treasury securities$4,926 $— $6,286 $(8)$11,212 $(8)
Corporate debt securities10,543 (3)6,143 (7)16,686 (10)
U.S. governmental agency securities— — 4,933 (12)4,933 (12)
Total short-term AFS securities$15,469 $(3)$17,362 $(27)$32,831 $(30)
Long-term AFS securities
Corporate debt securities$13,277 $(13)$— $— $13,277 $(13)
U.S. Treasury securities13,950 (15)— — 13,950 (15)
Total long-term AFS securities$27,227 $(28)$— $— $27,227 $(28)

December 31, 2023
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
U.S. Treasury securities$995 $(1)$24,978 $(666)$25,973 $(667)
Corporate debt securities5,819 (5)99,504 (1,823)105,323 (1,828)
U.S. governmental agency securities— — 5,916 (84)5,916 (84)
Total short-term AFS securities$6,814 $(6)$130,398 $(2,573)$137,212 $(2,579)
Long-term AFS securities
Corporate debt securities$2,451 $— $245 $(5)$2,696 $(5)
U.S. Treasury securities14,792 (36)290 (6)15,082 (42)
U.S. governmental agency securities3,832 (25)— — 3,832 (25)
Total long-term AFS securities$21,075 $(61)$535 $(11)$21,610 $(72)
We assess our AFS securities for impairment on a quarterly basis or more often if a potential loss-triggering event occurs.
As of September 30, 2024, and December 31, 2023, we did not intend to sell and it was not likely that we would be required to sell these investments before recovery of their amortized cost basis, which may be at maturity. Unrealized losses related to these investments are primarily due to interest rate fluctuations as opposed to changes in credit quality. Therefore, as of September 30, 2024, and December 31, 2023, we have recognized no impairment losses or allowance for credit losses related to AFS securities.
As of September 30, 2024, our short-term and long-term marketable securities had remaining maturities of less than one month to 12 months and 13 months to 27 months, respectively. See Note 8 for more information regarding the fair value of our marketable securities.
v3.24.3
Goodwill and Intangibles
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLES GOODWILL AND INTANGIBLES
The changes in the carrying amount of goodwill as of September 30, 2024, and since December 31, 2022, were as follows:
(In thousands)NYTGThe Athletic Total
Balance as of December 31, 2022$162,686 $251,360 $414,046 
Foreign currency translation2,052 — 2,052 
Balance as of December 31, 2023164,738 251,360 416,098 
Foreign currency translation684 — 684 
Balance as of September 30, 2024$165,422 $251,360 $416,782 
The foreign currency translation line item reflects changes in goodwill resulting from fluctuating exchange rates related to the consolidation of certain international subsidiaries.
As of September 30, 2024 and December 31, 2023, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:
September 30, 2024
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(23,951)$138,667 17.6
Existing subscriber base136,500 (31,500)105,000 9.5
Developed technology38,401 (20,885)17,516 2.4
Content archive5,751 (4,601)1,150 1.9
Total finite-lived intangibles$343,270 $(80,937)$262,333 13.3
December 31, 2023
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(17,767)$144,851 18.3
Existing subscriber base136,500 (23,062)113,438 10.2
Developed technology38,401 (15,381)23,020 3.2
Content archive5,751 (4,047)1,704 2.5
Total finite-lived intangibles$343,270 $(60,257)$283,013 13.7
Amortization expense for intangible assets included in Depreciation and amortization in our Condensed Consolidated Statements of Operations was $6.8 million and $7.3 million for the third quarters of 2024 and 2023, respectively, and $20.7 million and $22.0 million for the first nine months of 2024, and 2023, respectively. The estimated aggregate amortization expense for the remainder of 2024 and each of the following fiscal years ending December 31 is presented below:
(In thousands)
Remainder of 2024$6,799 
202527,213 
202626,960 
202720,171 
202819,335 
Thereafter161,855 
Total amortization expense$262,333 
The aggregate carrying amount of intangible assets of $264.8 million, which includes an indefinite-lived intangible of $2.5 million, is included in Intangible assets, net in our Condensed Consolidated Balance Sheet as of September 30, 2024.
v3.24.3
Investments
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
Non-Marketable Equity Securities
Our non-marketable equity securities are investments in privately held companies/funds without readily determinable market values. Gains and losses on non-marketable equity securities revalued, sold or impaired are recognized in Interest income and other, net in our Condensed Consolidated Statements of Operations.
As of September 30, 2024, and December 31, 2023, non-marketable equity securities included in Miscellaneous assets in our Condensed Consolidated Balance Sheets had a carrying value of $29.7 million.
v3.24.3
Other
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
OTHER OTHER
Capitalized Computer Software Costs
Amortization of capitalized computer software costs included in Depreciation and amortization in our Condensed Consolidated Statements of Operations was $1.7 million and $2.1 million for the third quarters of 2024 and 2023, respectively, and $5.3 million and $5.7 million for the first nine months of 2024 and 2023, respectively.
Interest income and other, net
Interest income and other, net, as shown in the accompanying Condensed Consolidated Statements of Operations, was as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Interest income (1)
$9,626 $6,016 $27,212 $14,182 
Interest expense(260)(280)(763)(756)
Total interest income and other, net$9,366 $5,736 $26,449 $13,426 
(1) On December 9, 2020, we entered into an agreement to lease and subsequently sell approximately four acres of land at our printing and distribution facility in College Point, N.Y., subject to certain conditions. The lease commenced on April 11, 2022. At the time of the lease expiration in February 2025, we will sell the parcel to the lessee for approximately $36 million. The transaction is accounted for as a sales-type lease and, as a result, we recognized a gain of approximately $34 million (net of commissions) at the time of lease commencement. Interest income related to this lease was $0.4 million for each of the third quarters of 2024 and 2023, and $1.3 million for each of the first nine months of 2024 and 2023.
Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of September 30, 2024, and September 30, 2023, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)September 30, 2024September 30, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$204,620 $235,566 
Restricted cash included within miscellaneous assets14,243 14,293 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$218,863 $249,859 
Substantially all of the amount included in restricted cash is set aside to collateralize workers’ compensation obligations.
Revolving Credit Facility
On July 27, 2022, the Company entered into an amendment and restatement of its previous credit facility that, among other changes, increased the committed amount to $350.0 million and extended the maturity date to July 27, 2027 (as amended and restated, the “Credit Facility”). Certain of the Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Facility. Borrowings under the Credit Facility bear interest at specified rates based on our utilization and consolidated leverage ratio. The Credit Facility contains various customary affirmative and negative covenants. In addition, the Company is obligated to pay a quarterly unused commitment fee at an annual rate of 0.20%.
As of September 30, 2024, and December 31, 2023, there were no borrowings and approximately $0.6 million in outstanding letters of credit, with the remaining committed amount available. As of September 30, 2024, the Company was in compliance with the financial covenants contained in the Credit Facility.
Severance Costs
We recognized $0.3 million and $3.1 million in severance costs for the third quarters of 2024 and 2023, respectively, and $6.2 million and $7.6 million for the first nine months of 2024 and 2023, respectively. These costs are recorded in General and administrative costs in our Condensed Consolidated Statements of Operations.
We had a severance liability of $5.4 million and $4.4 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of September 30, 2024, and December 31, 2023, respectively.
Generative AI Litigation Costs
In the third quarter and first nine months of 2024, the Company recorded $4.6 million and $7.6 million, respectively, of pre-tax litigation-related costs in connection with a lawsuit against Microsoft Corporation (“Microsoft”) and Open AI Inc. and various of its corporate affiliates (collectively, “OpenAI”), alleging unlawful and unauthorized copying and use of the Company’s journalism and other content in connection with their development of generative artificial intelligence products (“Generative AI Litigation Costs”). See Note 14 for additional information.
v3.24.3
Fair Value Measurements
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Fair value is the price that would be received upon the sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. The transaction would be in the principal or most advantageous market for the asset or liability, based on assumptions that a market participant would use in pricing the asset or liability. The fair value hierarchy consists of three levels:
Level 1–quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;
Level 2–inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
Level 3–unobservable inputs for the asset or liability.
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2024, and December 31, 2023:
(In thousands)September 30, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Short-term AFS securities (1)
U.S Treasury securities$168,186 $— $168,186 $— $48,109 $— $48,109 $— 
Corporate debt securities115,206 — 115,206 — 108,069 — 108,069 — 
U.S. governmental agency securities4,933 — 4,933 — 5,916 — 5,916 — 
Total short-term AFS securities$288,325 $— $288,325 $— $162,094 $— $162,094 $— 
Long-term AFS securities (1)
Corporate debt securities$188,617 $— $188,617 $— $103,942 $— $103,942 $— 
U.S Treasury securities138,818 — 138,818 — 149,859 — 149,859 — 
U.S. governmental agency securities— — — — 3,832 — 3,832 — 
Total long-term AFS securities$327,435 $— $327,435 $— $257,633 $— $257,633 $— 
Liabilities:
Deferred compensation (2)(3)
$13,324 $13,324 $— $— $13,752 $13,752 $— $— 
Contingent consideration (4)
$3,561 $— $— $3,561 $4,991 $— $— $4,991 
(1) We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities.
(2) The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), a frozen plan that enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015.
(3) The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $55.6 million as of September 30, 2024, and $52.3 million as of December 31, 2023. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy.
(4) The remaining contingent consideration balances (as discussed below) are included in Accrued expenses and other, for the current portion of the liability, and Other non-current liabilities, for the long-term portion of the liability, in our Condensed Consolidated Balance Sheets.
Level 3 Liabilities
The contingent consideration liability is related to the 2020 acquisition of substantially all the assets and certain liabilities of Serial Productions, LLC and represents contingent payments based on the achievement of certain operational targets, as defined in the acquisition agreement, over the five years following the acquisition. The Company estimated the fair value using a probability-weighted discounted cash flow model. The estimate of the fair value of contingent consideration requires subjective assumptions to be made regarding probabilities assigned to operational targets and the discount rate. As the fair value is based on significant unobservable inputs, this is a Level 3 liability.
The following table presents changes in the contingent consideration balances for the third quarters and nine months ended September 30, 2024, and September 30, 2023:
Quarters EndedNine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Balance at the beginning of the period
$3,561 $5,464 $4,991 $5,324 
Payments— (862)(1,724)(2,586)
Fair value adjustments (1)
— 949 294 2,813 
Contingent consideration at the end of the period$3,561 $5,551 $3,561 $5,551 
(1) Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.
v3.24.3
Pension and Other Postretirement Benefits
 9 Months Ended
Sep. 30, 2024
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS PENSION AND OTHER POSTRETIREMENT BENEFITS
Pension
Single-Employer Plans
We maintain The New York Times Companies Pension Plan, a frozen single-employer defined benefit pension plan. The Company also jointly sponsors a defined benefit plan with The NewsGuild of New York known as the Guild-Times Adjustable Pension Plan (the “APP”) that continues to accrue active benefits.
We also have a foreign-based pension plan for certain employees (the “foreign plan”). The information for the foreign plan is combined with the information for U.S. non-qualified plans. The benefit obligation of the foreign plan is immaterial to our total benefit obligation.
The components of net periodic pension (income)/cost were as follows:
For the Quarters Ended
 September 30, 2024September 30, 2023
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$1,541 $— $1,541 $1,417 $— $1,417 
Interest cost 13,376 2,206 15,582 14,198 2,296 16,494 
Expected return on plan assets (18,109)— (18,109)(19,122)— (19,122)
Amortization of actuarial loss 2,603 997 3,600 663 890 1,553 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension (income)/cost$(1,075)$3,203 $2,128 $(3,330)$3,186 $(144)
For the Nine Months Ended
 September 30, 2024September 30, 2023
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$4,623 $— $4,623 $4,252 $— $4,252 
Interest cost 40,128 6,619 46,747 42,595 6,887 49,482 
Expected return on plan assets (54,327)— (54,327)(57,367)— (57,367)
Amortization of actuarial loss 7,809 2,991 10,800 1,991 2,669 4,660 
Amortization of prior service credit (1,459)— (1,459)(1,459)— (1,459)
Effect of settlement— (27)(27)— — — 
Net periodic pension (income)/cost$(3,226)$9,583 $6,357 $(9,988)$9,556 $(432)
During the first nine months of 2024 and 2023, we made pension contributions of $9.7 million and $7.7 million, respectively, to the APP. We expect to make contractual contributions in 2024 of approximately $13 million, which more than satisfy minimum funding requirements.
Multiemployer Plans
During the third quarter of 2023, we recorded a favorable adjustment of $2.3 million related to a reduction to our multiemployer pension plan liability. This favorable adjustment was recorded in Multiemployer pension plan liability adjustment in our Condensed Consolidated Statements of Operations.
Other Postretirement Benefits
The components of net periodic postretirement benefit cost were as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Service cost$4 $8 $12 $25 
Interest cost 272 375 816 1,126 
Amortization of actuarial loss 174 486 522 1,455 
Net periodic postretirement benefit cost$450 $869 $1,350 $2,606 
v3.24.3
Income Taxes
 9 Months Ended
Sep. 30, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company had income tax expense of $20.9 million and $57.7 million in the third quarter and first nine months of 2024, respectively. The Company had income tax expense of $16.4 million and $40.2 million in the third quarter and first nine months of 2023, respectively. The Company’s effective tax rates were 24.6% and 25.3% for the third quarter and first nine months of 2024, respectively. The Company’s effective tax rates were 23.4% and 24.7% for the third quarter and first nine months of 2023, respectively. The increase in income tax expense was primarily due to higher pre-tax income in the third quarter of 2024. The effective tax rate was lower in the third quarter of 2023 primarily due to the benefit of additional tax credits in that quarter.
The Organization for Economic Co-operation and Development enacted model rules for a new global minimum tax framework, also known as Pillar Two, and certain governments globally have enacted these rules effective January 1, 2024. We have assessed the potential impact of Pillar Two and do not expect it to have a material effect on the Company’s financial statements.
v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Earnings per share is computed using both basic shares and diluted shares. The difference between basic and diluted shares is that diluted shares include the dilutive effect of the assumed exercise or vesting of outstanding securities. Our stock-settled long-term performance awards and restricted stock units could have a significant impact on diluted shares. The difference between basic and diluted shares of approximately 1.4 million and 1.3 million in the third quarter and first nine months of 2024, respectively, and 0.8 million and 0.7 million in the third quarter and first nine months of 2023, respectively, resulted from the dilutive effect of our stock-based awards.
Securities that could potentially be dilutive are excluded from the computation of diluted earnings per share when a loss from continuing operations exists or when the exercise price exceeds the market value of our Class A Common Stock because their inclusion would result in an anti-dilutive effect on per share amounts.
There were no restricted stock units excluded from the computation of diluted earnings per share in the third quarter and first nine months of 2024, respectively. There were approximately 0.1 million restricted stock units excluded from the computation of diluted earnings per share in the third quarter and first nine months of 2023, respectively, because they were anti-dilutive. There were no anti-dilutive stock-settled long-term performance awards excluded from the computation of diluted earnings per share in the third quarters and first nine months of 2024 and 2023.
v3.24.3
Supplemental Stockholders' Equity Information
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
SUPPLEMENTAL STOCKHOLDERS' EQUITY INFORMATION SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION
Share Repurchases
In February 2022, the Board of Directors approved a $150.0 million Class A share repurchase program that replaced the previous program, which was approved in 2015. In February 2023, in addition to the remaining 2022 authorization, the Board of Directors approved a $250.0 million Class A share repurchase program. The authorizations provide that shares of Class A Common Stock may be purchased from time to time as market conditions warrant, through open-market purchases, privately negotiated transactions or other means, including Rule 10b5-1 trading plans. We expect to repurchase shares to offset the impact of dilution from our equity compensation program and to return capital to our stockholders. There is no expiration date with respect to these authorizations.
As of September 30, 2024, repurchases under these authorizations totaled approximately $209.8 million (excluding commissions and excise taxes), fully utilizing the 2022 authorization and leaving approximately $190.2 million remaining under the 2023 authorization. During the nine months ended September 30, 2024, repurchases under these authorizations totaled approximately $60.3 million.
Accumulated Other Comprehensive Income
The following table summarizes the changes in AOCI by component as of September 30, 2024:
(In thousands)Foreign Currency Translation AdjustmentsFunded Status of Benefit PlansNet Unrealized Gain/(Loss) on Available-For-Sale SecuritiesTotal Accumulated Other Comprehensive Loss
Balance as of December 31, 2023$910 $(353,286)$(486)$(352,862)
Other comprehensive income before reclassifications, before tax241 — 4,889 5,130 
Amounts reclassified from accumulated other comprehensive loss, before tax— 9,890 — 9,890 
Income tax expense64 2,625 1,280 3,969 
Net current-period other comprehensive income, net of tax177 7,265 3,609 11,051 
Balance as of September 30, 2024$1,087 $(346,021)$3,123 $(341,811)
The following table summarizes the reclassifications from AOCI for the nine months ended September 30, 2024:
(In thousands)

Detail about accumulated other comprehensive loss components
 Amounts reclassified from accumulated other comprehensive lossAffects line item in the statement where net income is presented
Funded status of benefit plans:
Amortization of prior service credit (1)
$(1,459)Other components of net periodic benefit costs/(income)
Amortization of actuarial loss (1)
11,322 Other components of net periodic benefit costs/(income)
Pension settlement charge27 Other components of net periodic benefit costs/(income)
Total reclassification, before tax9,890 
Income tax expense2,625 Income tax expense
Total reclassification, net of tax$7,265 
(1) These AOCI components are included in the computation of net periodic benefit (income)/cost for pension and other postretirement benefits. See Note 9 for more information.
Stock-based Compensation Expense
Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations is as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Cost of revenue$4,344 $3,673 $12,494 $8,970 
Sales and marketing421 350 1,225 1,214 
Product development6,366 5,554 19,138 14,472 
General and administrative5,859 4,986 17,023 14,060 
Total stock-based compensation expense$16,990 $14,563 $49,880 $38,716 
v3.24.3
Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company identifies a business as an operating segment if: (i) it engages in business activities from which it may earn revenues and incur expenses; (ii) its operating results are regularly reviewed by the Company’s President and Chief Executive Officer (who is the Company’s CODM) to make decisions about resources to be allocated to the segment and assess its performance; and (iii) it has available discrete financial information.
The Company has two reportable segments: NYTG and The Athletic. These segments are evaluated regularly by the Company’s CODM in assessing performance and allocating resources. Management uses adjusted operating profit (loss) by segment in assessing performance and allocating resources. Adjusted operating profit is defined as operating profit before depreciation and amortization, severance, multiemployer pension plan withdrawal costs and special items. Adjusted operating profit for NYTG and The Athletic is presented below, along with a reconciliation to consolidated income before taxes. Asset information by segment is not a measure of performance used by the Company’s CODM. Accordingly, we have not disclosed asset information by segment.
Subscription revenues from and expenses associated with our digital subscription package (or “bundle”) are allocated to NYTG and The Athletic.
We allocate 10% of bundle revenues to The Athletic based on management’s view of The Athletic’s relative value to the bundle, which is derived based on analysis of various metrics, and allocate the remaining bundle revenues to NYTG.
We allocate 10% of product development, marketing and subscriber servicing expenses (including direct variable expenses such as credit card fees, third party fees and sales taxes) associated with the bundle to The Athletic, and the remaining costs are allocated to NYTG, in each case, in line with the revenues allocations.
The following tables present segment information:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023% ChangeSeptember 30, 2024September 30, 2023% Change
Revenues
NYTG$596,028 $563,903 5.7 %$1,738,578 $1,657,179 4.9 %
The Athletic44,713 34,442 29.8 %122,400 92,758 32.0 %
Intersegment eliminations (1)
(563)— *(1,688)— *
Total revenues$640,178 $598,345 7.0 %$1,859,290 $1,749,937 6.2 %
Adjusted operating profit (loss)
NYTG$101,543 $97,654 4.0 %$293,390 $262,911 11.6 %
The Athletic2,638 (7,899)*(8,455)(27,016)(68.7)%
Total adjusted operating profit$104,181 $89,755 16.1 %$284,935 $235,895 20.8 %
Less:
Other components of net periodic benefit costs/(income)1,050 (684)*3,124 (2,053)*
Depreciation and amortization20,622 21,475 (4.0)%61,865 64,173 (3.6)%
Severance329 3,086 (89.3)%6,230 7,578 (17.8)%
Multiemployer pension plan withdrawal costs1,883 1,397 34.8 %4,792 3,936 21.7 %
Generative AI Litigation Costs4,620 — *7,592 — *
Impairment charges— 2,503 *— 15,239 *
Multiemployer pension plan liability adjustment— (2,273)*— (2,273)*
Add:
Interest income and other, net9,366 5,736 63.3 %26,449 13,426 97.0 %
Income before income taxes$85,043 $69,987 21.5 %$227,781 $162,721 40.0 %
(1) 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
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023% ChangeSeptember 30, 2024September 30, 2023% Change
NYTG
Subscription$422,192 $392,937 7.4 %$1,233,577 $1,152,130 7.1 %
Advertising109,324 108,672 0.6 %319,416 323,091 (1.1)%
Other64,512 62,294 3.6 %185,585 181,958 2.0 %
Total$596,028 $563,903 5.7 %$1,738,578 $1,657,179 4.9 %
The Athletic
Subscription$31,135 $25,640 21.4 %$88,077 $73,579 19.7 %
Advertising9,046 8,441 7.2 %21,828 18,033 21.0 %
Other4,532 361 *12,495 1,146 *
Total$44,713 $34,442 29.8 %$122,400 $92,758 32.0 %
I/E (1)
$(563)$— *$(1,688)$— *
The New York Times Company
Subscription$453,327 $418,577 8.3 %$1,321,654 $1,225,709 7.8 %
Advertising118,370 117,113 1.1 %341,244 341,124 — 
Other68,481 62,655 9.3 %196,392 183,104 7.3 %
Total$640,178 $598,345 7.0 %$1,859,290 $1,749,937 6.2 %
(1) Intersegment eliminations (“I/E”) related to content licensing recorded in Other revenues.
* Represents a change equal to or in excess of 100% or not meaningful.
v3.24.3
Contingencies
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
CONTINGENCIES CONTINGENCIES
Legal Proceedings
We are involved in various legal actions incidental to our business that are now pending against us. These actions generally assert damages claims that are greatly in excess of the amount, if any, that we would be liable to pay if we lost or settled the cases. We record a liability for legal claims when a loss is probable and the amount can be reasonably estimated. Although the Company cannot predict the outcome of these matters, no amount of loss in excess of recorded amounts as of September 30, 2024, is believed to be reasonably possible.
On December 27, 2023, we filed a lawsuit against Microsoft and OpenAI in the United States District Court for the Southern District of New York, alleging copyright infringement, unfair competition, trademark dilution and violations of the Digital Millennium Copyright Act, related to their unlawful and unauthorized copying and use of our journalism and other content. We are seeking monetary relief, injunctive relief preventing Microsoft and OpenAI from continuing their unlawful, unfair and infringing conduct and other relief. We intend to vigorously pursue all of our legal remedies in this litigation, but there is no guarantee that we will be successful in our efforts.
v3.24.3
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pay vs Performance Disclosure        
Net income $ 64,143 $ 53,615 $ 170,100 $ 122,510
v3.24.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.24.3
Summary of Significant Accounting Policies (Policies)
 9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
Recently Issued Accounting Pronouncements
Recently Issued Accounting Pronouncements
Accounting Standard UpdatesTopicEffective PeriodSummary
2023-09Income Taxes (Topic 740): Improvements to Income Tax DisclosuresFiscal years, beginning after December 15, 2024. Early adoption is permitted.Requires entities to provide disaggregated income tax disclosures on the rate reconciliation and income taxes paid. We are currently in the process of evaluating the impact of this guidance on the Company’s disclosures.
2023-07Segment Reporting (Topic 280): Improvements to Reportable Segment DisclosuresFiscal years, beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted.Requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items to reconcile to segment profit or loss, and the title and position of the entity’s CODM. The amendments in this update also expand the interim segment disclosure requirements. We expect this ASU to impact only our disclosures with no impact to our statement of operations, cash flows and balance sheet.
The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.
v3.24.3
Revenue (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Subscription, advertising and other revenues were as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024As % of totalSeptember 30, 2023As % of totalSeptember 30, 2024As % of totalSeptember 30, 2023As % of total
Subscription$453,327 70.8 %$418,577 70.0 %$1,321,654 71.1 %$1,225,709 70.0 %
Advertising118,370 18.5 %117,113 19.6 %341,244 18.4 %341,124 19.5 %
Other (1)
68,481 10.7 %62,655 10.4 %196,392 10.5 %183,104 10.5 %
Total
$640,178 100.0 %$598,345 100.0 %$1,859,290 100.0 %$1,749,937 100.0 %
(1) Other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was $6.6 million and $6.8 million for the third quarters of 2024 and 2023, respectively, and $19.9 million and $20.5 million for the first nine months of 2024 and 2023, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the third quarters and first nine months ended September 30, 2024, and September 30, 2023:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024As % of totalSeptember 30, 2023As % of totalSeptember 30, 2024As % of totalSeptember 30, 2023As % of total
Digital-only subscription revenues (1)
$322,198 71.1 %$282,228 67.4 %$919,677 69.6 %$810,770 66.1 %
Print subscription revenues (2)
131,129 28.9 %136,349 32.6 %401,977 30.4 %414,939 33.9 %
Total subscription revenues$453,327 100.0 %$418,577 100.0 %$1,321,654 100.0 %$1,225,709 100.0 %
(1) Includes revenue from bundled and standalone subscriptions to our news product, as well as to The Athletic and our Cooking, Games and Wirecutter products.
(2) Includes domestic home-delivery subscriptions, which include access to our digital products. Also includes single-copy, NYT International and Other subscription revenues.
The following table summarizes digital and print advertising revenues, which are components of advertising revenues above, for the third quarters and first nine months ended September 30, 2024, and September 30, 2023:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024As % of totalSeptember 30, 2023As % of totalSeptember 30, 2024As % of totalSeptember 30, 2023As % of total
Advertising revenues:
Digital$81,564 68.9 %$75,001 64.0 %$224,166 65.7 %$210,076 61.6 %
Print36,806 31.1 %42,112 36.0 %117,078 34.3 %131,048 38.4 %
Total advertising$118,370 100.0 %$117,113 100.0 %$341,244 100.0 %$341,124 100.0 %
v3.24.3
Marketable Securities (Tables)
 9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Market Value of AFS Securities
The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of September 30, 2024, and December 31, 2023:
September 30, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
U.S. Treasury securities$167,580 $614 $(8)$168,186 
Corporate debt securities114,689 527 (10)115,206 
U.S. governmental agency securities4,945 — (12)4,933 
Total short-term AFS securities$287,214 $1,141 $(30)$288,325 
Long-term AFS securities
Corporate debt securities$186,724 $1,906 $(13)$188,617 
U.S. Treasury securities137,605 1,228 (15)138,818 
Total long-term AFS securities$324,329 $3,134 $(28)$327,435 
December 31, 2023
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
U.S. Treasury securities$48,721 $55 $(667)$48,109 
Corporate debt securities109,891 6 (1,828)108,069 
U.S. governmental agency securities6,000 — (84)5,916 
Total short-term AFS securities$164,612 $61 $(2,579)$162,094 
Long-term AFS securities
Corporate debt securities$103,061 $886 $(5)$103,942 
U.S. Treasury securities148,878 1,023 (42)149,859 
U.S. governmental agency securities3,857 — (25)3,832 
Total long-term AFS securities$255,796 $1,909 $(72)$257,633 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The following tables represent the AFS securities as of September 30, 2024, and December 31, 2023, that were in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position:
September 30, 2024
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
U.S. Treasury securities$4,926 $— $6,286 $(8)$11,212 $(8)
Corporate debt securities10,543 (3)6,143 (7)16,686 (10)
U.S. governmental agency securities— — 4,933 (12)4,933 (12)
Total short-term AFS securities$15,469 $(3)$17,362 $(27)$32,831 $(30)
Long-term AFS securities
Corporate debt securities$13,277 $(13)$— $— $13,277 $(13)
U.S. Treasury securities13,950 (15)— — 13,950 (15)
Total long-term AFS securities$27,227 $(28)$— $— $27,227 $(28)

December 31, 2023
Less than 12 Months12 Months or GreaterTotal
(In thousands)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term AFS securities
U.S. Treasury securities$995 $(1)$24,978 $(666)$25,973 $(667)
Corporate debt securities5,819 (5)99,504 (1,823)105,323 (1,828)
U.S. governmental agency securities— — 5,916 (84)5,916 (84)
Total short-term AFS securities$6,814 $(6)$130,398 $(2,573)$137,212 $(2,579)
Long-term AFS securities
Corporate debt securities$2,451 $— $245 $(5)$2,696 $(5)
U.S. Treasury securities14,792 (36)290 (6)15,082 (42)
U.S. governmental agency securities3,832 (25)— — 3,832 (25)
Total long-term AFS securities$21,075 $(61)$535 $(11)$21,610 $(72)
v3.24.3
Goodwill and Intangibles (Tables)
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill Balances
The changes in the carrying amount of goodwill as of September 30, 2024, and since December 31, 2022, were as follows:
(In thousands)NYTGThe Athletic Total
Balance as of December 31, 2022$162,686 $251,360 $414,046 
Foreign currency translation2,052 — 2,052 
Balance as of December 31, 2023164,738 251,360 416,098 
Foreign currency translation684 — 684 
Balance as of September 30, 2024$165,422 $251,360 $416,782 
Schedule of Finite-Lived Intangible Assets
As of September 30, 2024 and December 31, 2023, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:
September 30, 2024
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(23,951)$138,667 17.6
Existing subscriber base136,500 (31,500)105,000 9.5
Developed technology38,401 (20,885)17,516 2.4
Content archive5,751 (4,601)1,150 1.9
Total finite-lived intangibles$343,270 $(80,937)$262,333 13.3
December 31, 2023
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(17,767)$144,851 18.3
Existing subscriber base136,500 (23,062)113,438 10.2
Developed technology38,401 (15,381)23,020 3.2
Content archive5,751 (4,047)1,704 2.5
Total finite-lived intangibles$343,270 $(60,257)$283,013 13.7
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense The estimated aggregate amortization expense for the remainder of 2024 and each of the following fiscal years ending December 31 is presented below:
(In thousands)
Remainder of 2024$6,799 
202527,213 
202626,960 
202720,171 
202819,335 
Thereafter161,855 
Total amortization expense$262,333 
v3.24.3
Other (Tables)
 9 Months Ended
Sep. 30, 2024
Other Income and Expenses [Abstract]  
Schedule of Interest Income and Other, Net
Interest income and other, net, as shown in the accompanying Condensed Consolidated Statements of Operations, was as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Interest income (1)
$9,626 $6,016 $27,212 $14,182 
Interest expense(260)(280)(763)(756)
Total interest income and other, net$9,366 $5,736 $26,449 $13,426 
(1) On December 9, 2020, we entered into an agreement to lease and subsequently sell approximately four acres of land at our printing and distribution facility in College Point, N.Y., subject to certain conditions. The lease commenced on April 11, 2022. At the time of the lease expiration in February 2025, we will sell the parcel to the lessee for approximately $36 million. The transaction is accounted for as a sales-type lease and, as a result, we recognized a gain of approximately $34 million (net of commissions) at the time of lease commencement. Interest income related to this lease was $0.4 million for each of the third quarters of 2024 and 2023, and $1.3 million for each of the first nine months of 2024 and 2023.
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of September 30, 2024, and September 30, 2023, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)September 30, 2024September 30, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$204,620 $235,566 
Restricted cash included within miscellaneous assets14,243 14,293 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$218,863 $249,859 
Schedule of Restrictions on Cash and Cash Equivalents
A reconciliation of cash, cash equivalents and restricted cash as of September 30, 2024, and September 30, 2023, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)September 30, 2024September 30, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$204,620 $235,566 
Restricted cash included within miscellaneous assets14,243 14,293 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$218,863 $249,859 
v3.24.3
Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2024, and December 31, 2023:
(In thousands)September 30, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Short-term AFS securities (1)
U.S Treasury securities$168,186 $— $168,186 $— $48,109 $— $48,109 $— 
Corporate debt securities115,206 — 115,206 — 108,069 — 108,069 — 
U.S. governmental agency securities4,933 — 4,933 — 5,916 — 5,916 — 
Total short-term AFS securities$288,325 $— $288,325 $— $162,094 $— $162,094 $— 
Long-term AFS securities (1)
Corporate debt securities$188,617 $— $188,617 $— $103,942 $— $103,942 $— 
U.S Treasury securities138,818 — 138,818 — 149,859 — 149,859 — 
U.S. governmental agency securities— — — — 3,832 — 3,832 — 
Total long-term AFS securities$327,435 $— $327,435 $— $257,633 $— $257,633 $— 
Liabilities:
Deferred compensation (2)(3)
$13,324 $13,324 $— $— $13,752 $13,752 $— $— 
Contingent consideration (4)
$3,561 $— $— $3,561 $4,991 $— $— $4,991 
(1) We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities.
(2) The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), a frozen plan that enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015.
(3) The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $55.6 million as of September 30, 2024, and $52.3 million as of December 31, 2023. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy.
(4) The remaining contingent consideration balances (as discussed below) are included in Accrued expenses and other, for the current portion of the liability, and Other non-current liabilities, for the long-term portion of the liability, in our Condensed Consolidated Balance Sheets.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents changes in the contingent consideration balances for the third quarters and nine months ended September 30, 2024, and September 30, 2023:
Quarters EndedNine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Balance at the beginning of the period
$3,561 $5,464 $4,991 $5,324 
Payments— (862)(1,724)(2,586)
Fair value adjustments (1)
— 949 294 2,813 
Contingent consideration at the end of the period$3,561 $5,551 $3,561 $5,551 
(1) Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.
v3.24.3
Pension and Other Postretirement Benefits (Tables)
 9 Months Ended
Sep. 30, 2024
Pension Plan  
Pension Benefits  
Schedule of Components of Net Periodic Pension (Income)/Cost and Postretirement Benefit Cost
The components of net periodic pension (income)/cost were as follows:
For the Quarters Ended
 September 30, 2024September 30, 2023
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$1,541 $— $1,541 $1,417 $— $1,417 
Interest cost 13,376 2,206 15,582 14,198 2,296 16,494 
Expected return on plan assets (18,109)— (18,109)(19,122)— (19,122)
Amortization of actuarial loss 2,603 997 3,600 663 890 1,553 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension (income)/cost$(1,075)$3,203 $2,128 $(3,330)$3,186 $(144)
For the Nine Months Ended
 September 30, 2024September 30, 2023
(In thousands)Qualified
Plans		Non-
Qualified
Plans		All
Plans		Qualified
Plans		Non-
Qualified
Plans		All
Plans
Service cost$4,623 $— $4,623 $4,252 $— $4,252 
Interest cost 40,128 6,619 46,747 42,595 6,887 49,482 
Expected return on plan assets (54,327)— (54,327)(57,367)— (57,367)
Amortization of actuarial loss 7,809 2,991 10,800 1,991 2,669 4,660 
Amortization of prior service credit (1,459)— (1,459)(1,459)— (1,459)
Effect of settlement— (27)(27)— — — 
Net periodic pension (income)/cost$(3,226)$9,583 $6,357 $(9,988)$9,556 $(432)
Other Postretirement Benefit Plan  
Pension Benefits  
Schedule of Components of Net Periodic Pension (Income)/Cost and Postretirement Benefit Cost
The components of net periodic postretirement benefit cost were as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Service cost$4 $8 $12 $25 
Interest cost 272 375 816 1,126 
Amortization of actuarial loss 174 486 522 1,455 
Net periodic postretirement benefit cost$450 $869 $1,350 $2,606 
v3.24.3
Supplemental Stockholders' Equity Information (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss
The following table summarizes the changes in AOCI by component as of September 30, 2024:
(In thousands)Foreign Currency Translation AdjustmentsFunded Status of Benefit PlansNet Unrealized Gain/(Loss) on Available-For-Sale SecuritiesTotal Accumulated Other Comprehensive Loss
Balance as of December 31, 2023$910 $(353,286)$(486)$(352,862)
Other comprehensive income before reclassifications, before tax241 — 4,889 5,130 
Amounts reclassified from accumulated other comprehensive loss, before tax— 9,890 — 9,890 
Income tax expense64 2,625 1,280 3,969 
Net current-period other comprehensive income, net of tax177 7,265 3,609 11,051 
Balance as of September 30, 2024$1,087 $(346,021)$3,123 $(341,811)
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The following table summarizes the reclassifications from AOCI for the nine months ended September 30, 2024:
(In thousands)

Detail about accumulated other comprehensive loss components
 Amounts reclassified from accumulated other comprehensive lossAffects line item in the statement where net income is presented
Funded status of benefit plans:
Amortization of prior service credit (1)
$(1,459)Other components of net periodic benefit costs/(income)
Amortization of actuarial loss (1)
11,322 Other components of net periodic benefit costs/(income)
Pension settlement charge27 Other components of net periodic benefit costs/(income)
Total reclassification, before tax9,890 
Income tax expense2,625 Income tax expense
Total reclassification, net of tax$7,265 
(1) These AOCI components are included in the computation of net periodic benefit (income)/cost for pension and other postretirement benefits. See Note 9 for more information.
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount
Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations is as follows:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023September 30, 2024September 30, 2023
Cost of revenue$4,344 $3,673 $12,494 $8,970 
Sales and marketing421 350 1,225 1,214 
Product development6,366 5,554 19,138 14,472 
General and administrative5,859 4,986 17,023 14,060 
Total stock-based compensation expense$16,990 $14,563 $49,880 $38,716 
v3.24.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information:
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023% ChangeSeptember 30, 2024September 30, 2023% Change
Revenues
NYTG$596,028 $563,903 5.7 %$1,738,578 $1,657,179 4.9 %
The Athletic44,713 34,442 29.8 %122,400 92,758 32.0 %
Intersegment eliminations (1)
(563)— *(1,688)— *
Total revenues$640,178 $598,345 7.0 %$1,859,290 $1,749,937 6.2 %
Adjusted operating profit (loss)
NYTG$101,543 $97,654 4.0 %$293,390 $262,911 11.6 %
The Athletic2,638 (7,899)*(8,455)(27,016)(68.7)%
Total adjusted operating profit$104,181 $89,755 16.1 %$284,935 $235,895 20.8 %
Less:
Other components of net periodic benefit costs/(income)1,050 (684)*3,124 (2,053)*
Depreciation and amortization20,622 21,475 (4.0)%61,865 64,173 (3.6)%
Severance329 3,086 (89.3)%6,230 7,578 (17.8)%
Multiemployer pension plan withdrawal costs1,883 1,397 34.8 %4,792 3,936 21.7 %
Generative AI Litigation Costs4,620 — *7,592 — *
Impairment charges— 2,503 *— 15,239 *
Multiemployer pension plan liability adjustment— (2,273)*— (2,273)*
Add:
Interest income and other, net9,366 5,736 63.3 %26,449 13,426 97.0 %
Income before income taxes$85,043 $69,987 21.5 %$227,781 $162,721 40.0 %
(1) 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
For the Quarters EndedFor the Nine Months Ended
(In thousands)September 30, 2024September 30, 2023% ChangeSeptember 30, 2024September 30, 2023% Change
NYTG
Subscription$422,192 $392,937 7.4 %$1,233,577 $1,152,130 7.1 %
Advertising109,324 108,672 0.6 %319,416 323,091 (1.1)%
Other64,512 62,294 3.6 %185,585 181,958 2.0 %
Total$596,028 $563,903 5.7 %$1,738,578 $1,657,179 4.9 %
The Athletic
Subscription$31,135 $25,640 21.4 %$88,077 $73,579 19.7 %
Advertising9,046 8,441 7.2 %21,828 18,033 21.0 %
Other4,532 361 *12,495 1,146 *
Total$44,713 $34,442 29.8 %$122,400 $92,758 32.0 %
I/E (1)
$(563)$— *$(1,688)$— *
The New York Times Company
Subscription$453,327 $418,577 8.3 %$1,321,654 $1,225,709 7.8 %
Advertising118,370 117,113 1.1 %341,244 341,124 — 
Other68,481 62,655 9.3 %196,392 183,104 7.3 %
Total$640,178 $598,345 7.0 %$1,859,290 $1,749,937 6.2 %
(1) Intersegment eliminations (“I/E”) related to content licensing recorded in Other revenues.
* Represents a change equal to or in excess of 100% or not meaningful.
v3.24.3
Basis of Presentation (Details)
 9 Months Ended
Sep. 30, 2024
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 2
v3.24.3
Revenue - Subscription, Advertising, and Other Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Total revenues $ 640,178 $ 598,345 $ 1,859,290 $ 1,749,937
Product and service benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 100.00% 100.00% 100.00% 100.00%
Subscription        
Disaggregation of Revenue [Line Items]        
Total revenues $ 453,327 $ 418,577 $ 1,321,654 $ 1,225,709
Subscription | Product and service benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 70.80% 70.00% 71.10% 70.00%
Advertising        
Disaggregation of Revenue [Line Items]        
Total revenues $ 118,370 $ 117,113 $ 341,244 $ 341,124
Advertising | Product and service benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 18.50% 19.60% 18.40% 19.50%
Other        
Disaggregation of Revenue [Line Items]        
Total revenues $ 68,481 $ 62,655 $ 196,392 $ 183,104
Other | Product and service benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 10.70% 10.40% 10.50% 10.50%
Real Estate        
Disaggregation of Revenue [Line Items]        
Revenue not from contract with customer $ 6,600 $ 6,800 $ 19,900 $ 20,500
v3.24.3
Revenue - Digital-only Subscription Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Total revenues $ 640,178 $ 598,345 $ 1,859,290 $ 1,749,937
Subscription        
Disaggregation of Revenue [Line Items]        
Total revenues $ 453,327 $ 418,577 $ 1,321,654 $ 1,225,709
Subscription | Subscription revenue benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 100.00% 100.00% 100.00% 100.00%
Subscription | Digital        
Disaggregation of Revenue [Line Items]        
Total revenues $ 322,198 $ 282,228 $ 919,677 $ 810,770
Subscription | Digital | Subscription revenue benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 71.10% 67.40% 69.60% 66.10%
Subscription | Print        
Disaggregation of Revenue [Line Items]        
Total revenues $ 131,129 $ 136,349 $ 401,977 $ 414,939
Subscription | Print | Subscription revenue benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 28.90% 32.60% 30.40% 33.90%
v3.24.3
Revenue - Advertising Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Disaggregation of Revenue [Line Items]        
Total advertising $ 640,178 $ 598,345 $ 1,859,290 $ 1,749,937
Advertising benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total     100.00% 100.00%
Advertising        
Disaggregation of Revenue [Line Items]        
Total advertising $ 118,370 $ 117,113 $ 341,244 $ 341,124
Advertising | Advertising benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 100.00% 100.00%    
Digital | Advertising benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total     65.70% 61.60%
Digital | Advertising        
Disaggregation of Revenue [Line Items]        
Total advertising $ 81,564 $ 75,001 $ 224,166 $ 210,076
Digital | Advertising | Advertising benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 68.90% 64.00%    
Print | Advertising benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total     34.30% 38.40%
Print | Advertising        
Disaggregation of Revenue [Line Items]        
Total advertising $ 36,806 $ 42,112 $ 117,078 $ 131,048
Print | Advertising | Advertising benchmark | Product concentration risk        
Disaggregation of Revenue [Line Items]        
As % of total 31.10% 36.00%    
v3.24.3
Revenue - Performance Obligations (Details)
$ in Millions
Sep. 30, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 174
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 33
Remaining performance obligation, period 3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 91
Remaining performance obligation, period 1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 50
Remaining performance obligation, period 5 years
v3.24.3
Revenue - Unexpired Subscriptions (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Unexpired subscriptions revenue $ 177,215 $ 172,772
Revenue recognized $ 161,000  
v3.24.3
Revenue - Contract Assets (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Contract assets $ 3.3 $ 3.5
v3.24.3
Marketable Securities - Narrative (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Line of Credit Facility [Line Items]    
Pre-tax net unrealized gains (losses) in AOCI $ 4,200,000 $ (700,000)
OTTI loss recognized $ 0 $ 0
Short-term Marketable Securities | Minimum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 1 month  
Short-term Marketable Securities | Maximum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 12 months  
Long-term Marketable Securities | Minimum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 13 months  
Long-term Marketable Securities | Maximum    
Line of Credit Facility [Line Items]    
Remaining maturities on short-term and long-term marketable securities 27 months  
v3.24.3
Marketable Securities - Available for Sale (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Short-term AFS securities    
Amortized cost, short-term AFS securities $ 287,214 $ 164,612
Gross unrealized gains, short-term AFS securities 1,141 61
Gross unrealized losses, short-term AFS securities (30) (2,579)
Fair value, short-term AFS securities 288,325 162,094
Long-term AFS securities    
Amortized cost, long-term AFS securities 324,329 255,796
Gross unrealized gains, long-term AFS securities 3,134 1,909
Gross unrealized losses, long-term AFS securities (28) (72)
Fair value, long-term AFS securities 327,435 257,633
U.S. Treasury securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 167,580 48,721
Gross unrealized gains, short-term AFS securities 614 55
Gross unrealized losses, short-term AFS securities (8) (667)
Fair value, short-term AFS securities 168,186 48,109
Long-term AFS securities    
Amortized cost, long-term AFS securities 137,605 148,878
Gross unrealized gains, long-term AFS securities 1,228 1,023
Gross unrealized losses, long-term AFS securities (15) (42)
Fair value, long-term AFS securities 138,818 149,859
Corporate debt securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 114,689 109,891
Gross unrealized gains, short-term AFS securities 527 6
Gross unrealized losses, short-term AFS securities (10) (1,828)
Fair value, short-term AFS securities 115,206 108,069
Long-term AFS securities    
Amortized cost, long-term AFS securities 186,724 103,061
Gross unrealized gains, long-term AFS securities 1,906 886
Gross unrealized losses, long-term AFS securities (13) (5)
Fair value, long-term AFS securities 188,617 103,942
U.S. governmental agency securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 4,945 6,000
Gross unrealized gains, short-term AFS securities 0 0
Gross unrealized losses, short-term AFS securities (12) (84)
Fair value, short-term AFS securities $ 4,933 5,916
Long-term AFS securities    
Amortized cost, long-term AFS securities   3,857
Gross unrealized gains, long-term AFS securities   0
Gross unrealized losses, long-term AFS securities   (25)
Fair value, long-term AFS securities   $ 3,832
v3.24.3
Marketable Securities - Available-for-sale Securities - Continuous Loss Position (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
U.S. Treasury securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities $ 4,926 $ 995
Gross unrealized losses, less than 12 months, short-term AFS securities 0 (1)
Fair value, 12 months or greater, short-term AFS securities 6,286 24,978
Gross unrealized losses, 12 months or greater, short-term AFS securities (8) (666)
Fair value, short-term AFS securities 11,212 25,973
Gross unrealized losses, short-term AFS securities (8) (667)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 13,950 14,792
Gross unrealized losses, less than 12 months, long-term AFS securities (15) (36)
Fair value, 12 months or greater, long-term AFS securities 0 290
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 (6)
Fair value, long-term AFS securities 13,950 15,082
Gross unrealized losses, long-term AFS securities (15) (42)
Corporate debt securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 10,543 5,819
Gross unrealized losses, less than 12 months, short-term AFS securities (3) (5)
Fair value, 12 months or greater, short-term AFS securities 6,143 99,504
Gross unrealized losses, 12 months or greater, short-term AFS securities (7) (1,823)
Fair value, short-term AFS securities 16,686 105,323
Gross unrealized losses, short-term AFS securities (10) (1,828)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 13,277 2,451
Gross unrealized losses, less than 12 months, long-term AFS securities (13) 0
Fair value, 12 months or greater, long-term AFS securities 0 245
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 (5)
Fair value, long-term AFS securities 13,277 2,696
Gross unrealized losses, long-term AFS securities (13) (5)
U.S. governmental agency securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 0 0
Gross unrealized losses, less than 12 months, short-term AFS securities 0 0
Fair value, 12 months or greater, short-term AFS securities 4,933 5,916
Gross unrealized losses, 12 months or greater, short-term AFS securities (12) (84)
Fair value, short-term AFS securities 4,933 5,916
Gross unrealized losses, short-term AFS securities (12) (84)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities   3,832
Gross unrealized losses, less than 12 months, long-term AFS securities   (25)
Fair value, 12 months or greater, long-term AFS securities   0
Gross unrealized losses, 12 months or greater, long-term AFS securities   0
Fair value, long-term AFS securities   3,832
Gross unrealized losses, long-term AFS securities   (25)
Total short-term AFS securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 15,469 6,814
Gross unrealized losses, less than 12 months, short-term AFS securities (3) (6)
Fair value, 12 months or greater, short-term AFS securities 17,362 130,398
Gross unrealized losses, 12 months or greater, short-term AFS securities (27) (2,573)
Fair value, short-term AFS securities 32,831 137,212
Gross unrealized losses, short-term AFS securities (30) (2,579)
Total long-term AFS securities    
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 27,227 21,075
Gross unrealized losses, less than 12 months, long-term AFS securities (28) (61)
Fair value, 12 months or greater, long-term AFS securities 0 535
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 (11)
Fair value, long-term AFS securities 27,227 21,610
Gross unrealized losses, long-term AFS securities $ (28) $ (72)
v3.24.3
Goodwill and Intangibles - Goodwill Balances (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 416,098 $ 414,046
Foreign currency translation 684 2,052
Goodwill, ending balance 416,782 416,098
NYTG    
Goodwill [Roll Forward]    
Goodwill, beginning balance 164,738 162,686
Foreign currency translation 684 2,052
Goodwill, ending balance 165,422 164,738
The Athletic    
Goodwill [Roll Forward]    
Goodwill, beginning balance 251,360 251,360
Foreign currency translation 0 0
Goodwill, ending balance $ 251,360 $ 251,360
v3.24.3
Goodwill and Intangibles - Finite-Lived Intangible Assets (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 343,270 $ 343,270
Accumulated Amortization (80,937) (60,257)
Net Book Value $ 262,333 $ 283,013
Remaining Weighted-Average Useful Life (Years) 13 years 3 months 18 days 13 years 8 months 12 days
Trademark    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 162,618 $ 162,618
Accumulated Amortization (23,951) (17,767)
Net Book Value $ 138,667 $ 144,851
Remaining Weighted-Average Useful Life (Years) 17 years 7 months 6 days 18 years 3 months 18 days
Existing subscriber base    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 136,500 $ 136,500
Accumulated Amortization (31,500) (23,062)
Net Book Value $ 105,000 $ 113,438
Remaining Weighted-Average Useful Life (Years) 9 years 6 months 10 years 2 months 12 days
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 38,401 $ 38,401
Accumulated Amortization (20,885) (15,381)
Net Book Value $ 17,516 $ 23,020
Remaining Weighted-Average Useful Life (Years) 2 years 4 months 24 days 3 years 2 months 12 days
Content archive    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 5,751 $ 5,751
Accumulated Amortization (4,601) (4,047)
Net Book Value $ 1,150 $ 1,704
Remaining Weighted-Average Useful Life (Years) 1 year 10 months 24 days 2 years 6 months
v3.24.3
Goodwill and Intangibles - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Business Acquisition [Line Items]          
Intangible assets, net $ 264,810   $ 264,810   $ 285,490
Indefinite-lived intangible assets 2,500   2,500    
The Athletic          
Business Acquisition [Line Items]          
Amortization expense $ 6,800 $ 7,300 $ 20,700 $ 22,000  
v3.24.3
Goodwill and Intangibles - Future Amortization (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2024 $ 6,799  
2025 27,213  
2026 26,960  
2027 20,171  
2028 19,335  
Thereafter 161,855  
Net Book Value $ 262,333 $ 283,013
v3.24.3
Investments - Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Equity securities $ 29.7 $ 29.7
v3.24.3
Other - Narrative (Details) - USD ($)
 3 Months Ended 9 Months Ended
Jul. 27, 2022
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Other Expense [Line Items]            
Severance costs   $ 329,000 $ 3,086,000 $ 6,230,000 $ 7,578,000  
Severance liability   5,400,000   5,400,000   $ 4,400,000
Pre-tax litigation related costs   4,620,000 0 7,592,000 0  
Severance | Selling, General and Administrative Expenses            
Other Expense [Line Items]            
Severance costs   300,000 3,100,000 6,200,000 7,600,000  
Credit Facility | Amended Credit Facility            
Other Expense [Line Items]            
Unsecured revolving credit facility, maximum borrowing capacity $ 350,000,000          
Unsecured revolving credit facility, unused commitment fee (quarterly) 0.20%          
Line of credit facility, outstanding borrowings   0   0   0
Letters of credit outstanding   600,000   600,000   $ 600,000
Capitalized Computer Software Costs            
Other Expense [Line Items]            
Capitalized computer software amortization   $ 1,700,000 $ 2,100,000 $ 5,300,000 $ 5,700,000  
v3.24.3
Other - Interest Income and Other, Net (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Apr. 11, 2022
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Dec. 09, 2020
a
Other Income and Expenses [Abstract]            
Interest income   $ 9,626 $ 6,016 $ 27,212 $ 14,182  
Interest expense   (260) (280) (763) (756)  
Total interest income and other, net   9,366 5,736 26,449 13,426  
Area of land (in acres) | a           4
Parcel to the lessor, amount $ 36,000          
Gain on lease commencement $ 34,000          
Interest income   $ 400 $ 400 $ 1,300 $ 1,300  
v3.24.3
Other - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Sep. 30, 2023
Dec. 31, 2022
Reconciliation of cash, cash equivalents and restricted cash        
Cash and cash equivalents $ 204,620 $ 289,472 $ 235,566  
Restricted cash included within miscellaneous assets 14,243   14,293  
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 218,863 $ 303,172 $ 249,859 $ 235,173
v3.24.3
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities $ 288,325 $ 162,094
Long-term AFS securities 327,435 257,633
Deferred compensation plan assets 55,600 52,300
U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 168,186 48,109
Long-term AFS securities 138,818 149,859
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 115,206 108,069
Long-term AFS securities 188,617 103,942
Estimate of Fair Value Measurement | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 13,324 13,752
Contingent consideration 3,561 4,991
Estimate of Fair Value Measurement | Recurring | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 13,324 13,752
Contingent consideration 0 0
Estimate of Fair Value Measurement | Recurring | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 0 0
Contingent consideration 0 0
Estimate of Fair Value Measurement | Recurring | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 0 0
Contingent consideration 3,561 4,991
Estimate of Fair Value Measurement | Recurring | Debt Securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 288,325 162,094
Long-term AFS securities 327,435 257,633
Estimate of Fair Value Measurement | Recurring | Debt Securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Debt Securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 288,325 162,094
Long-term AFS securities 327,435 257,633
Estimate of Fair Value Measurement | Recurring | Debt Securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 168,186 48,109
Long-term AFS securities 138,818 149,859
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 168,186 48,109
Long-term AFS securities 138,818 149,859
Estimate of Fair Value Measurement | Recurring | U.S. Treasury securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 115,206 108,069
Long-term AFS securities 188,617 103,942
Estimate of Fair Value Measurement | Recurring | Corporate debt securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | Corporate debt securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 115,206 108,069
Long-term AFS securities 188,617 103,942
Estimate of Fair Value Measurement | Recurring | Corporate debt securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 4,933 5,916
Long-term AFS securities 0 3,832
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities 0 0
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 4,933 5,916
Long-term AFS securities 0 3,832
Estimate of Fair Value Measurement | Recurring | U.S. governmental agency securities | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 0 0
Long-term AFS securities $ 0 $ 0
v3.24.3
Fair Value Measurements - Narrative (Details)
 9 Months Ended
Sep. 30, 2024
Fair Value Disclosures [Abstract]  
Contingent consideration redemption period (in years) 5 years
v3.24.3
Fair Value Measurements - Change in Balance of Contingent Consideration (Details) - Contingent Consideration - Recurring - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance at the beginning of the period $ 3,561 $ 5,464 $ 4,991 $ 5,324
Payments 0 (862) (1,724) (2,586)
Fair value adjustments 0 949 294 2,813
Contingent consideration at the end of the period $ 3,561 $ 5,551 $ 3,561 $ 5,551
v3.24.3
Pension and Other Postretirement Benefits - Pension Benefits - Net Periodic Pension (Income)/Cost (Details) - Pension Plan - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pension Benefits        
Service cost $ 1,541 $ 1,417 $ 4,623 $ 4,252
Interest cost 15,582 16,494 46,747 49,482
Expected return on plan assets (18,109) (19,122) (54,327) (57,367)
Amortization of actuarial loss 3,600 1,553 10,800 4,660
Amortization of prior service credit (486) (486) (1,459) (1,459)
Effect of settlement     (27) 0
Net periodic pension (income)/cost or postretirement benefit cost 2,128 (144) 6,357 (432)
Qualified Plans        
Pension Benefits        
Service cost 1,541 1,417 4,623 4,252
Interest cost 13,376 14,198 40,128 42,595
Expected return on plan assets (18,109) (19,122) (54,327) (57,367)
Amortization of actuarial loss 2,603 663 7,809 1,991
Amortization of prior service credit (486) (486) (1,459) (1,459)
Effect of settlement     0 0
Net periodic pension (income)/cost or postretirement benefit cost (1,075) (3,330) (3,226) (9,988)
Non- Qualified Plans        
Pension Benefits        
Service cost 0 0 0 0
Interest cost 2,206 2,296 6,619 6,887
Expected return on plan assets 0 0 0 0
Amortization of actuarial loss 997 890 2,991 2,669
Amortization of prior service credit 0 0 0 0
Effect of settlement     (27) 0
Net periodic pension (income)/cost or postretirement benefit cost $ 3,203 $ 3,186 $ 9,583 $ 9,556
v3.24.3
Pension and Other Postretirement Benefits - Narrative (Details) - Pension Plan - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pension Benefits      
Pension contributions   $ 9.7 $ 7.7
Expected future employer contributions   $ 13.0  
Gain on liability adjustment $ 2.3    
v3.24.3
Pension and Other Postretirement Benefits - Other Postretirement Benefits (Details) - Other Postretirement Benefit Plan - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Pension Benefits        
Service cost $ 4 $ 8 $ 12 $ 25
Interest cost 272 375 816 1,126
Amortization of actuarial loss 174 486 522 1,455
Net periodic pension (income)/cost or postretirement benefit cost $ 450 $ 869 $ 1,350 $ 2,606
v3.24.3
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Tax Disclosure [Abstract]        
Income tax expense $ 20,900 $ 16,372 $ 57,681 $ 40,211
Effective income tax rate 24.60% 23.40% 25.30% 24.70%
v3.24.3
Earnings Per Share (Details) - shares
shares in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 1.4 0.8 1.3 0.7
Restricted Stock Units        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 0.0 0.1 0.0 0.1
Long-Term Incentive Compensation Stock-Settled Awards        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from computation of earnings per share (in shares) 0.0 0.0 0.0 0.0
v3.24.3
Supplemental Stockholders' Equity Information - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 32 Months Ended
Sep. 30, 2024
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Feb. 28, 2023
Feb. 28, 2022
Class of Stock [Line Items]            
Stock repurchase program, authorized amount         $ 250,000 $ 150,000
Share repurchases $ 18,483 $ 60,749 $ 43,591      
Stock repurchase program, remaining authorized repurchase amount $ 190,200 190,200   $ 190,200    
Class A Common Stock            
Class of Stock [Line Items]            
Share repurchases   $ 60,300   $ 209,800    
v3.24.3
Supplemental Stockholders' Equity Information - Changes in Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Balance, beginning of period $ 1,804,986 $ 1,607,220 $ 1,763,219 $ 1,599,972
Other comprehensive income before reclassifications, before tax     5,130  
Amounts reclassified from accumulated other comprehensive loss, before tax     9,890  
Income tax expense     3,969  
Net current-period other comprehensive income, net of tax 8,501 813 11,051 6,978
Balance, end of period 1,852,052 1,655,240 1,852,052 1,655,240
Foreign Currency Translation Adjustments        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Balance, beginning of period     910  
Other comprehensive income before reclassifications, before tax     241  
Amounts reclassified from accumulated other comprehensive loss, before tax     0  
Income tax expense     64  
Net current-period other comprehensive income, net of tax     177  
Balance, end of period 1,087   1,087  
Funded Status of Benefit Plans        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Balance, beginning of period     (353,286)  
Other comprehensive income before reclassifications, before tax     0  
Amounts reclassified from accumulated other comprehensive loss, before tax     9,890  
Income tax expense     2,625  
Net current-period other comprehensive income, net of tax     7,265  
Balance, end of period (346,021)   (346,021)  
Net Unrealized Gain/(Loss) on Available-For-Sale Securities        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Balance, beginning of period     (486)  
Other comprehensive income before reclassifications, before tax     4,889  
Amounts reclassified from accumulated other comprehensive loss, before tax     0  
Income tax expense     1,280  
Net current-period other comprehensive income, net of tax     3,609  
Balance, end of period 3,123   3,123  
Total Accumulated Other Comprehensive Loss        
Accumulated Other Comprehensive Income (Loss) [Roll Forward]        
Balance, beginning of period (350,312) (351,682) (352,862) (357,847)
Net current-period other comprehensive income, net of tax 8,501 813 11,051 6,978
Balance, end of period $ (341,811) $ (350,869) $ (341,811) $ (350,869)
v3.24.3
Supplemental Stockholders' Equity Information - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]        
Other components of net periodic benefit costs/(income) $ 1,050 $ (684) $ 3,124 $ (2,053)
Total reclassification, before tax (85,043) (69,987) (227,781) (162,721)
Income tax expense (20,900) (16,372) (57,681) (40,211)
Total reclassification, net of tax $ (64,143) $ (53,615) (170,100) $ (122,510)
Amounts reclassified from accumulated other comprehensive loss        
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]        
Total reclassification, before tax     9,890  
Income tax expense     2,625  
Total reclassification, net of tax     7,265  
Amounts reclassified from accumulated other comprehensive loss | Amortization of prior service credit        
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]        
Other components of net periodic benefit costs/(income)     (1,459)  
Amounts reclassified from accumulated other comprehensive loss | Amortization of actuarial loss        
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]        
Other components of net periodic benefit costs/(income)     11,322  
Amounts reclassified from accumulated other comprehensive loss | Pension settlement charge        
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]        
Other components of net periodic benefit costs/(income)     $ 27  
v3.24.3
Supplemental Stockholders' Equity Information - Total Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 16,990 $ 14,563 $ 49,880 $ 38,716
Cost of revenue        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 4,344 3,673 12,494 8,970
Sales and marketing        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 421 350 1,225 1,214
Product development        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense 6,366 5,554 19,138 14,472
General and administrative        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense $ 5,859 $ 4,986 $ 17,023 $ 14,060
v3.24.3
Segment Information - Narrative (Details)
 9 Months Ended
Sep. 30, 2024
segment
Segment Reporting Information [Line Items]  
Number of reportable segments 2
The Athletic | Subscription  
Segment Reporting Information [Line Items]  
Percentage of revenue allocation 10.00%
The Athletic | Product Development, Marketing and Subscriber Servicing Expenses  
Segment Reporting Information [Line Items]  
Percentage of revenue allocation 10.00%
v3.24.3
Segment Information - Segment Information (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Segment Reporting Information [Line Items]        
Total revenues $ 640,178 $ 598,345 $ 1,859,290 $ 1,749,937
Revenues, percent change 0.070   0.062  
Total adjusted operating profit $ 104,181 89,755 $ 284,935 235,895
Adjusted operating profit, percent change 0.161   0.208  
Other components of net periodic benefit costs/(income) $ 1,050 (684) $ 3,124 (2,053)
Depreciation and amortization $ 20,622 21,475 $ 61,865 64,173
Depreciation and amortization, percent change (0.040)   (0.036)  
Severance $ 329 3,086 $ 6,230 7,578
Severance, percent change (89.30%)   (17.80%)  
Multiemployer pension plan withdrawal costs $ 1,883 1,397 $ 4,792 3,936
Multiemployer pension plan withdrawal costs, percent change 0.348   0.217  
Generative AI Litigation Costs $ 4,620 0 $ 7,592 0
Impairment charges 0 2,503 0 15,239
Multiemployer pension plan liability adjustment 0 (2,273) 0 (2,273)
Interest income and other, net $ 9,366 5,736 $ 26,449 13,426
Interest income and other, net percent change 0.633   0.970  
Income before income taxes $ 85,043 69,987 $ 227,781 162,721
Income before income taxes, percent change 21.50%   40.00%  
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Total revenues $ (563) 0 $ (1,688) 0
NYTG | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 596,028 563,903 $ 1,738,578 1,657,179
Revenues, percent change 0.057   0.049  
Total adjusted operating profit $ 101,543 97,654 $ 293,390 262,911
Adjusted operating profit, percent change 0.040   0.116  
The Athletic | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 44,713 34,442 $ 122,400 92,758
Revenues, percent change 0.298   0.320  
Total adjusted operating profit $ 2,638 $ (7,899) $ (8,455) $ (27,016)
Adjusted operating profit, percent change     (0.687)  
v3.24.3
Segment Information - Revenues Detail by Segment (Details)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Sep. 30, 2024
USD ($)
Sep. 30, 2023
USD ($)
Segment Reporting Information [Line Items]        
Total revenues $ 640,178 $ 598,345 $ 1,859,290 $ 1,749,937
Revenues, percent change 0.070   0.062  
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Total revenues $ (563) 0 $ (1,688) 0
Subscription        
Segment Reporting Information [Line Items]        
Total revenues $ 453,327 418,577 $ 1,321,654 1,225,709
Revenues, percent change 0.083   0.078  
Advertising        
Segment Reporting Information [Line Items]        
Total revenues $ 118,370 117,113 $ 341,244 341,124
Revenues, percent change 0.011   0  
Other        
Segment Reporting Information [Line Items]        
Total revenues $ 68,481 62,655 $ 196,392 183,104
Revenues, percent change 0.093   0.073  
NYTG | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 596,028 563,903 $ 1,738,578 1,657,179
Revenues, percent change 0.057   0.049  
NYTG | Subscription | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 422,192 392,937 $ 1,233,577 1,152,130
Revenues, percent change 0.074   0.071  
NYTG | Advertising | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 109,324 108,672 $ 319,416 323,091
Revenues, percent change 0.006   (0.011)  
NYTG | Other | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 64,512 62,294 $ 185,585 181,958
Revenues, percent change 0.036   0.020  
The Athletic | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 44,713 34,442 $ 122,400 92,758
Revenues, percent change 0.298   0.320  
The Athletic | Subscription | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 31,135 25,640 $ 88,077 73,579
Revenues, percent change 0.214   0.197  
The Athletic | Advertising | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 9,046 8,441 $ 21,828 18,033
Revenues, percent change 0.072   0.210  
The Athletic | Other | Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues $ 4,532 $ 361 $ 12,495 $ 1,146