NEW YORK TIMES CO, 10-Q filed on 5/8/2024
Quarterly Report
v3.24.1.u1
Cover Page - shares
 3 Months Ended
Mar. 31, 2024
May 03, 2024
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 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 Q1  
Amendment Flag false  
Class A Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   163,530,462
Class B Common Stock    
Entity Information [Line Items]    
Entity Common Stock, Shares Outstanding   780,724
v3.24.1.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 206,817 $ 289,472
Short-term marketable securities 172,238 162,094
Accounts receivable (net of allowances of $12,637 in 2024 and $12,800 in 2023) 177,656 242,488
Prepaid expenses 59,049 59,712
Other current assets 65,400 27,887
Total current assets 681,160 781,653
Other assets    
Long-term marketable securities 307,204 257,633
Property, plant and equipment (less accumulated depreciation and amortization of $882,583 in 2024 and $870,329 in 2023) 507,737 514,245
Goodwill 414,627 416,098
Intangible assets, net 278,418 285,490
Deferred income taxes 120,688 114,505
Miscellaneous assets 312,988 344,971
Total assets 2,622,822 2,714,595
Current liabilities    
Accounts payable 120,660 116,942
Accrued payroll and other related liabilities 88,564 174,316
Unexpired subscriptions revenue 178,210 172,772
Accrued expenses and other 157,283 147,529
Total current liabilities 544,717 611,559
Other liabilities    
Pension benefits obligation 216,879 219,451
Postretirement benefits obligation 19,520 19,402
Other 93,744 100,964
Total other liabilities 330,143 339,817
Common stock of $.10 par value:    
Additional paid-in capital 299,483 301,287
Retained earnings 2,136,537 2,117,839
Common stock held in treasury, at cost (353,529) (320,820)
Accumulated other comprehensive loss, net of income taxes:    
Foreign currency translation adjustments (453) 910
Funded status of benefit plans (350,897) (353,286)
Net unrealized loss on available-for-sale securities (1,009) (486)
Total accumulated other comprehensive loss, net of income taxes (352,359) (352,862)
Total stockholders’ equity 1,747,962 1,763,219
Total liabilities and stockholders’ equity 2,622,822 2,714,595
Class A Common Stock    
Common stock of $.10 par value:    
Common stock value 17,752 17,697
Class B Common Stock    
Common stock of $.10 par value:    
Common stock value $ 78 $ 78
v3.24.1.u1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Accounts receivable, allowance for credit loss $ 12,637 $ 12,800
Accumulated depreciation and amortization $ 882,583 $ 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) 177,507,685 176,951,162
Treasury shares (in shares) 13,893,393 13,189,925
Class B Common Stock    
Common stock of $.10 par value:    
Authorized shares (in shares) 780,724 780,724
Issued shares (in shares) 780,724 780,724
v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Total revenues $ 594,015 $ 560,739
Operating costs    
Cost of revenue (excluding depreciation and amortization) 316,867 306,852
Sales and marketing 65,134 67,034
Product development 63,185 57,062
General and administrative 78,815 81,051
Depreciation and amortization 20,706 20,840
Generative AI Litigation Costs 989 0
Total operating costs 545,696 532,839
Operating profit 48,319 27,900
Other components of net periodic benefit (costs)/income (1,051) 685
Interest income and other, net 8,387 3,173
Income before income taxes 55,655 31,758
Income tax expense 15,238 9,437
Net income $ 40,417 $ 22,321
Average number of common shares outstanding:    
Basic (in shares) 164,632 164,975
Diluted (in shares) 165,630 165,398
Basic earnings per share attributable to common stockholders (in usd per share) $ 0.25 $ 0.14
Diluted earnings per share attributable to common stockholders (in usd per share) 0.24 0.13
Dividends declared per share (in usd per share) $ 0.13 $ 0.11
Subscription    
Revenues    
Total revenues $ 429,005 $ 397,542
Advertising    
Revenues    
Total revenues 103,711 106,241
Other    
Revenues    
Total revenues $ 61,299 $ 56,956
v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Comprehensive Income [Abstract]    
Net income $ 40,417 $ 22,321
Other comprehensive income, before tax:    
(Loss)/gain on foreign currency translation adjustments (1,846) 848
Pension and postretirement benefits obligation 3,288 1,553
Net unrealized (loss)/gain on available-for-sale securities (709) 2,602
Other comprehensive income, before tax 733 5,003
Income tax expense 230 1,294
Other comprehensive income, net of tax 503 3,709
Comprehensive income attributable to common stockholders $ 40,920 $ 26,030
v3.24.1.u1
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 22,321 22,321     22,321      
Dividends (18,375) (18,375)     (18,375)      
Other comprehensive (loss) income 3,709 3,709         3,709  
Issuance of stock-based awards, net of withholding taxes:                
Restricted stock units vested - Class A shares (7,919) (7,919) 27 (7,946)        
Performance-based awards - Class A shares (3,098) (3,098) 10 (3,108)        
Share repurchases - Class A shares (30,720) (30,720)       (30,720)    
Stock-based compensation 10,900 10,900   10,900        
Balance, end of period at Mar. 31, 2023 1,576,790 1,574,785 17,744 255,361 1,962,805 (306,987) (354,138) 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 40,417 40,417     40,417      
Dividends (21,719) (21,719)     (21,719)      
Other comprehensive (loss) income 503 503         503  
Issuance of stock-based awards, net of withholding taxes:                
Restricted stock units vested - Class A shares (14,917) (14,917) 47 (14,964)        
Performance-based awards - Class A shares (2,688) (2,688) 8 (2,696)        
Share repurchases - Class A shares (32,709) (32,709)       (32,709)    
Stock-based compensation 15,856 15,856   15,856        
Balance, end of period at Mar. 31, 2024 $ 1,747,962 $ 1,747,962 $ 17,830 $ 299,483 $ 2,136,537 $ (353,529) $ (352,359) $ 0
v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]    
Restricted stock unit vested (in shares) 470,820 267,069
Performance-based awards (in shares) 85,703 106,419
Share repurchases (in shares) 703,468 803,529
v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 40,417 $ 22,321
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,706 20,840
Amortization of right of use asset 2,221 2,490
Stock-based compensation expense 15,856 10,900
Change in long-term retirement benefit obligations (5,758) (6,954)
Other – net (1,026) 83
Changes in operating assets and liabilities:    
Accounts receivable – net 64,832 51,556
Other assets 2,360 (2,295)
Accounts payable, accrued payroll and other liabilities (93,067) (57,103)
Unexpired subscriptions 5,438 7,645
Other noncurrent assets and liabilities 1,100 1,247
Net cash provided by operating activities 53,079 50,730
Cash flows from investing activities    
Purchases of marketable securities (112,892) 0
Maturities of marketable securities 52,374 28,160
Capital expenditures (6,424) (5,985)
Other – net 551 0
Net cash (used in)/provided by investing activities (66,391) 22,175
Long-term obligations:    
Dividends paid (18,621) (15,069)
Payment of contingent consideration 0 (1,724)
Capital shares:    
Repurchases (32,458) (30,720)
Share-based compensation tax withholding (17,605) (11,017)
Net cash used in financing activities (68,684) (58,530)
Net (decrease)/increase in cash, cash equivalents and restricted cash (81,996) 14,375
Effect of exchange rate changes on cash (480) (262)
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 $ 220,696 $ 249,286
v3.24.1.u1
Basis of Presentation
 3 Months Ended
Mar. 31, 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 March 31, 2024, and December 31, 2023, and the results of operations, changes in stockholders’ equity and cash flows of the Company for the periods ended March 31, 2024, and March 31, 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 quarter of 2024 includes an additional day compared with the first quarter 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.
Reclassification
Beginning with the third quarter of 2023, we have updated our presentation of total operating costs to include operating items that are outside the ordinary course of our operations (“special items”). These items have been previously presented separate from operating costs and included in operating profit. We recast operating costs for the prior periods in order to present comparable financial results. There was no change to consolidated operating profit, net income or cash flows as a result of this change.
v3.24.1.u1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
As of March 31, 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, 2025. 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 are currently in the process of evaluating the impact of this guidance on the Company’s disclosures.
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.
v3.24.1.u1
Revenue
 3 Months Ended
Mar. 31, 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 (including direct-sold programmatic advertising), podcast, email and video advertisements 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”), retail commerce, our live events business, our student subscription sponsorship program and books, television and film.
Subscription, advertising and other revenues were as follows:
For the Quarters Ended
(In thousands)March 31, 2024As % of totalMarch 31, 2023As % of total
Subscription$429,005 72.2 %$397,542 70.9 %
Advertising103,711 17.5 %106,241 18.8 %
Other (1)
61,299 10.3 %56,956 10.3 %
Total
$594,015 100.0 %$560,739 100.0 %
(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 $6.7 million and $7.3 million for the first quarters of 2024 and 2023, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the quarters ended March 31, 2024, and March 31, 2023:
For the Quarters Ended
(In thousands)March 31, 2024As % of totalMarch 31, 2023As % of total
Digital-only subscription revenues (1)
$292,978 68.3 %$258,768 65.1 %
Print subscription revenues (2)
136,027 31.7 %138,774 34.9 %
Total subscription revenues$429,005 100.0 %$397,542 100.0 %
(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 quarters ended March 31, 2024, and March 31, 2023:
For the Quarters Ended
(In thousands)March 31, 2024As % of totalMarch 31, 2023As % of total
Advertising revenues:
Digital$63,026 60.8 %$61,271 57.7 %
Print40,685 39.2 %44,970 42.3 %
Total advertising$103,711 100.0 %$106,241 100.0 %
Performance Obligations
We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of March 31, 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 $183 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $76 million, $76 million and $31 million will be recognized in the remainder of 2024, 2025 and thereafter through 2028, 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 $110 million was recognized as revenues during the three months ended March 31, 2024.
Contract Assets
As of March 31, 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.
v3.24.1.u1
Marketable Securities
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES MARKETABLE SECURITIES
The Company accounts for its marketable securities as available for sale (“AFS”). Pre-tax net unrealized losses in Accumulated other comprehensive income (“AOCI”) were $1.4 million and $0.7 million as of March 31, 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 March 31, 2024, and December 31, 2023:
March 31, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
U.S. Treasury securities$87,303 $25 $(512)$86,816 
Corporate debt securities83,352 7 (848)82,511 
U.S. governmental agency securities2,955 — (44)2,911 
Total short-term AFS securities$173,610 $32 $(1,404)$172,238 
Long-term AFS securities
Corporate debt securities$158,301 $352 $(190)$158,463 
U.S. Treasury securities146,981 179 (328)146,832 
U.S. governmental agency securities1,931 — (22)1,909 
Total long-term AFS securities$307,213 $531 $(540)$307,204 
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 March 31, 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:
March 31, 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$29,247 $(73)$23,487 $(439)$52,734 $(512)
Corporate debt securities9,628 (16)66,987 (832)76,615 (848)
U.S. governmental agency securities1,938 (17)973 (27)2,911 (44)
Total short-term AFS securities$40,813 $(106)$91,447 $(1,298)$132,260 $(1,404)
Long-term AFS securities
Corporate debt securities$68,341 $(190)$— $— $68,341 $(190)
U.S. Treasury securities73,282 (328)— — 73,282 (328)
U.S. governmental agency securities1,909 (22)— — 1,909 (22)
Total long-term AFS securities$143,532 $(540)$— $— $143,532 $(540)

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 AFS securities on a quarterly basis or more often if a potential loss-triggering event occurs.
As of March 31, 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 March 31, 2024, and December 31, 2023, we have recognized no losses or allowance for credit losses related to AFS securities.
As of March 31, 2024, our short-term and long-term marketable securities had remaining maturities of less than one month to 12 months and 13 months to 26 months, respectively. See Note 8 for more information regarding the fair value of our marketable securities.
v3.24.1.u1
Goodwill and Intangibles
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLES GOODWILL AND INTANGIBLES
The changes in the carrying amount of goodwill as of March 31, 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 translation(1,471)— (1,471)
Balance as of March 31, 2024$163,267 $251,360 $414,627 
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 March 31, 2024 and December 31, 2023, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:
March 31, 2024
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(19,951)$142,667 18.1
Existing subscriber base136,500 (25,875)110,625 10.0
Developed technology38,401 (17,216)21,185 2.9
Content archive5,751 (4,287)1,464 2.4
Total finite-lived intangibles$343,270 $(67,329)$275,941 13.6
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 $7.1 million and $7.3 million for the first quarters 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$20,407 
202527,213 
202626,960 
202720,171 
202819,335 
Thereafter161,855 
Total amortization expense$275,941 
The aggregate carrying amount of intangible assets of $278.4 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 March 31, 2024.
v3.24.1.u1
Investments
 3 Months Ended
Mar. 31, 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 securities revalued, sold or impaired are recognized in Interest income and other, net in our Condensed Consolidated Statements of Operations.
As of March 31, 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.
v3.24.1.u1
Other
 3 Months Ended
Mar. 31, 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 $2.0 million and $1.7 million for the first quarters 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 Ended
(In thousands)March 31, 2024March 31, 2023
Interest income$8,638 $3,421 
Interest expense(251)(248)
Total interest income and other, net$8,387 $3,173 
Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of March 31, 2024, and March 31, 2023, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)March 31, 2024March 31, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$206,817 $235,350 
Restricted cash included within miscellaneous assets13,879 13,936 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$220,696 $249,286 
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 March 31, 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 March 31, 2024, the Company was in compliance with the financial covenants contained in the Credit Facility.
Severance Costs
We recognized $4.4 million and $3.8 million in severance costs for the first quarters 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 $7.5 million and $4.4 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of March 31, 2024, and December 31, 2023, respectively.
Generative AI Litigation Costs
In the first quarter of 2024, the Company recorded $1.0 million 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.
v3.24.1.u1
Fair Value Measurements
 3 Months Ended
Mar. 31, 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 March 31, 2024, and December 31, 2023:
(In thousands)March 31, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Short-term AFS securities (1)
U.S Treasury securities$86,816 $— $86,816 $— $48,109 $— $48,109 $— 
Corporate debt securities82,511 — 82,511 — 108,069 — 108,069 — 
U.S. governmental agency securities2,911 — 2,911 — 5,916 — 5,916 — 
Total short-term AFS securities$172,238 $— $172,238 $— $162,094 $— $162,094 $— 
Long-term AFS securities (1)
Corporate debt securities$158,463 $— $158,463 $— $103,942 $— $103,942 $— 
U.S Treasury securities146,832 — 146,832 — 149,859 — 149,859 — 
U.S. governmental agency securities1,909 — 1,909 — 3,832 — 3,832 — 
Total long-term AFS securities$307,204 $— $307,204 $— $257,633 $— $257,633 $— 
Liabilities:
Deferred compensation (2)(3)
$12,368 $12,368 $— $— $13,752 $13,752 $— $— 
Contingent consideration (4)
$5,528 $— $— $5,528 $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 $53.8 million as of March 31, 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 quarters ended March 31, 2024, and March 31, 2023:
Quarters Ended
(In thousands)March 31, 2024March 31, 2023
Balance at the beginning of the period
$4,991 $5,324 
Payments— (1,724)
Fair value adjustments (1)
537 792 
Contingent consideration at the end of the period$5,528 $4,392 
(1) Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.
v3.24.1.u1
Pension and Other Postretirement Benefits
 3 Months Ended
Mar. 31, 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
 March 31, 2024March 31, 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 $— $1,417 
Interest cost 13,376 2,207 15,583 14,198 2,296 16,494 
Expected return on plan assets (18,109)— (18,109)(19,122)— (19,122)
Amortization of actuarial loss 2,603 997 3,600 663 890 1,553 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension (income)/cost$(1,075)$3,204 $2,129 $(3,330)$3,186 $(144)
During the first quarters of 2024 and 2023, we made pension contributions of $3.4 million and $2.0 million, respectively, to the APP. We expect to make contractual contributions in 2024 of approximately $12 million, which more than satisfy minimum funding requirements.
Other Postretirement Benefits
The components of net periodic postretirement benefit cost were as follows:
For the Quarters Ended
(In thousands)March 31, 2024March 31, 2023
Service cost$4 $8 
Interest cost 272 375 
Amortization of actuarial loss 174 486 
Net periodic postretirement benefit cost$450 $869 
v3.24.1.u1
Income Taxes
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company had income tax expense of $15.2 million and $9.4 million in the first quarters of 2024 and 2023, respectively. The Company’s effective tax rates were 27.4% and 29.7% for the first quarters of 2024 and 2023, respectively. The increase in income tax expense was primarily due to higher pre-tax income in the first quarter of 2024. The decrease in the effective tax rate was primarily due to non-deductible items having a lower impact on the rate due to higher pre-tax income in the first quarter of 2024.
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 are monitoring this development and evaluating its potential impact on our tax rate and eligibility to qualify for the safe harbor provisions and currently do not expect a material impact from the Pillar Two income tax rules.
v3.24.1.u1
Earnings Per Share
 3 Months Ended
Mar. 31, 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 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 was approximately 1.0 million and 0.4 million in the first quarters of 2024 and 2023, respectively, and resulted primarily 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 first quarter of 2024. There were approximately 1.1 million restricted stock units excluded from the computation of diluted earnings per share in the first quarter of 2023, 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 first quarters of 2024 and 2023.
v3.24.1.u1
Supplemental Stockholders' Equity Information
 3 Months Ended
Mar. 31, 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 March 31, 2024, repurchases under these authorizations totaled approximately $182.0 million (excluding commissions and excise taxes), fully utilizing the 2022 authorization and leaving approximately $218.0 million remaining under the 2023 authorization. During the three months ended March 31, 2024, repurchases under these authorizations totaled approximately $32.4 million.
Accumulated Other Comprehensive Income
The following table summarizes the changes in AOCI by component as of March 31, 2024:
(In thousands)Foreign Currency Translation AdjustmentsFunded Status of Benefit PlansNet Unrealized Loss on Available-For-Sale SecuritiesTotal Accumulated Other Comprehensive Loss
Balance as of December 31, 2023$910 $(353,286)$(486)$(352,862)
Other comprehensive loss before reclassifications, before tax(1,846)— (709)(2,555)
Amounts reclassified from accumulated other comprehensive loss, before tax— 3,288 — 3,288 
Income tax (benefit)/expense(483)899 (186)230 
Net current-period other comprehensive (loss)/income, net of tax(1,363)2,389 (523)503 
Balance as of March 31, 2024$(453)$(350,897)$(1,009)$(352,359)
The following table summarizes the reclassifications from AOCI for the three months ended March 31, 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)
$(486)Other components of net periodic benefit costs/(income)
Amortization of actuarial loss (1)
3,774 Other components of net periodic benefit costs/(income)
Total reclassification, before tax (2)
3,288 
Income tax expense899 Income tax expense
Total reclassification, net of tax$2,389 
(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.
(2) There were no reclassifications relating to noncontrolling interest for the quarter ended March 31, 2024.
Stock-based Compensation Expense
Total stock-based compensation expense included in the Condensed Consolidated Statements of Operations is as follows:
For the Quarters Ended
(In thousands)March 31, 2024March 31, 2023
Cost of revenue$3,954 $2,230 
Sales and marketing392 420 
Product development6,235 3,884 
General and administrative5,275 4,366 
Total stock-based compensation expense$15,856 $10,900 
v3.24.1.u1
Segment Information
 3 Months Ended
Mar. 31, 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.
Prior to April 1, 2023, we allocated bundle revenues first to our digital news product based on its standalone list price and then the remaining bundle revenues were allocated to the other products in the bundle, including The Athletic, based on their relative standalone list prices. Starting April 1, 2023, 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.
Prior to April 1, 2023, we allocated to NYTG and The Athletic direct variable expenses associated with the bundle, which include credit card fees, third party fees and sales taxes, based on a historical actual percentage of these costs to bundle revenues. Starting April 1, 2023, we allocate 10% of product development, marketing and subscriber servicing expenses (including the direct variable expenses referenced above) associated with the bundle to The Athletic, and the remaining costs are allocated to NYTG, in each case, in line with the revenues allocations.
For comparison purposes, the Company has recast segment results for the first quarter of 2023 to reflect the updated allocation methodology.
The following tables present segment information:
For the Quarters Ended
(In thousands)March 31, 2024
March 31, 2023 (1)
% Change
Revenues
NYTG$557,394 $532,782 4.6 %
The Athletic37,184 27,957 33.0 %
Intersegment eliminations (2)
(563)— *
Total revenues$594,015 $560,739 5.9 %
Adjusted operating profit (loss)
NYTG$84,744 $65,287 29.8 %
The Athletic(8,690)(11,312)(23.2)%
Total adjusted operating profit$76,054 $53,975 40.9 %
Less:
Other components of net periodic benefit costs/(income)1,051 (685)*
Depreciation and amortization20,706 20,840 (0.6)%
Severance4,428 3,780 17.1 %
Multiemployer pension plan withdrawal costs1,612 1,455 10.8 %
Generative AI Litigation Costs989 — *
Add:
Interest income and other, net8,387 3,173 *
Income before income taxes$55,655 $31,758 75.2 %
(1) Recast to reflect the Company’s updated bundle allocation methodology.
(2) Intersegment eliminations (“I/E”) related to content licensing.
* Represents a change equal to or in excess of 100% or not meaningful.
Revenues detail by segment
For the Quarters Ended
(In thousands)March 31, 2024
March 31, 2023 (1)
% Change
NYTG
Subscription$401,370 $374,156 7.3 %
Advertising98,004 102,090 (4.0)%
Other58,020 56,536 2.6 %
Total$557,394 $532,782 4.6 %
The Athletic
Subscription$27,635 $23,386 18.2 %
Advertising5,707 4,151 37.5 %
Other3,842 420 *
Total$37,184 $27,957 33.0 %
I/E (2)
$(563)$— *
The New York Times Company
Subscription$429,005 $397,542 7.9 %
Advertising103,711 106,241 (2.4)%
Other61,299 56,956 7.6 %
Total$594,015 $560,739 5.9 %
(1) Recast to reflect the Company’s updated bundle allocation methodology.
(2) I/E related to content licensing recorded in Other revenues.
* Represents a change equal to or in excess of 100% or not meaningful.
v3.24.1.u1
Contingencies
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
CONTINGENCIES CONTINGENCIES
Legal Proceedings
We are involved in various legal actions incidental to our business that are now pending against us. These actions generally assert damages claims that are greatly in excess of the amount, if any, that we would be liable to pay if we lost or settled the cases. We record a liability for legal claims when a loss is probable and the amount can be reasonably estimated. Although the Company cannot predict the outcome of these matters, no amount of loss in excess of recorded amounts as of March 31, 2024, is believed to be reasonably possible.
On December 27, 2023, we filed a lawsuit against Microsoft and OpenAI in the United States District Court for the Southern District of New York, alleging copyright infringement, unfair competition, trademark dilution and violations of the Digital Millennium Copyright Act, related to their unlawful and unauthorized copying and use of our journalism and other content. We are seeking monetary relief, injunctive relief preventing Microsoft and OpenAI from continuing their unlawful, unfair and infringing conduct and other relief. We intend to vigorously pursue all of our legal remedies in this litigation, but there is no guarantee that we will be successful in our efforts.
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure    
Net income $ 40,417 $ 22,321
v3.24.1.u1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 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
v3.24.1.u1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Reclassification
Reclassification
Beginning with the third quarter of 2023, we have updated our presentation of total operating costs to include operating items that are outside the ordinary course of our operations (“special items”). These items have been previously presented separate from operating costs and included in operating profit. We recast operating costs for the prior periods in order to present comparable financial results. There was no change to consolidated operating profit, net income or cash flows as a result of this change.
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, 2025. 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 are currently in the process of evaluating the impact of this guidance on the Company’s disclosures.
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.
v3.24.1.u1
Revenue (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Subscription, advertising and other revenues were as follows:
For the Quarters Ended
(In thousands)March 31, 2024As % of totalMarch 31, 2023As % of total
Subscription$429,005 72.2 %$397,542 70.9 %
Advertising103,711 17.5 %106,241 18.8 %
Other (1)
61,299 10.3 %56,956 10.3 %
Total
$594,015 100.0 %$560,739 100.0 %
(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 $6.7 million and $7.3 million for the first quarters of 2024 and 2023, respectively.
The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the quarters ended March 31, 2024, and March 31, 2023:
For the Quarters Ended
(In thousands)March 31, 2024As % of totalMarch 31, 2023As % of total
Digital-only subscription revenues (1)
$292,978 68.3 %$258,768 65.1 %
Print subscription revenues (2)
136,027 31.7 %138,774 34.9 %
Total subscription revenues$429,005 100.0 %$397,542 100.0 %
(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 quarters ended March 31, 2024, and March 31, 2023:
For the Quarters Ended
(In thousands)March 31, 2024As % of totalMarch 31, 2023As % of total
Advertising revenues:
Digital$63,026 60.8 %$61,271 57.7 %
Print40,685 39.2 %44,970 42.3 %
Total advertising$103,711 100.0 %$106,241 100.0 %
v3.24.1.u1
Marketable Securities (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2024, and December 31, 2023:
March 31, 2024
(In thousands)Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term AFS securities
U.S. Treasury securities$87,303 $25 $(512)$86,816 
Corporate debt securities83,352 7 (848)82,511 
U.S. governmental agency securities2,955 — (44)2,911 
Total short-term AFS securities$173,610 $32 $(1,404)$172,238 
Long-term AFS securities
Corporate debt securities$158,301 $352 $(190)$158,463 
U.S. Treasury securities146,981 179 (328)146,832 
U.S. governmental agency securities1,931 — (22)1,909 
Total long-term AFS securities$307,213 $531 $(540)$307,204 
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 March 31, 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:
March 31, 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$29,247 $(73)$23,487 $(439)$52,734 $(512)
Corporate debt securities9,628 (16)66,987 (832)76,615 (848)
U.S. governmental agency securities1,938 (17)973 (27)2,911 (44)
Total short-term AFS securities$40,813 $(106)$91,447 $(1,298)$132,260 $(1,404)
Long-term AFS securities
Corporate debt securities$68,341 $(190)$— $— $68,341 $(190)
U.S. Treasury securities73,282 (328)— — 73,282 (328)
U.S. governmental agency securities1,909 (22)— — 1,909 (22)
Total long-term AFS securities$143,532 $(540)$— $— $143,532 $(540)

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)
v3.24.1.u1
Goodwill and Intangibles (Tables)
 3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill Balances
The changes in the carrying amount of goodwill as of March 31, 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 translation(1,471)— (1,471)
Balance as of March 31, 2024$163,267 $251,360 $414,627 
Schedule of Finite-Lived Intangible Assets
As of March 31, 2024 and December 31, 2023, the gross book value and accumulated amortization of the intangible assets with definite lives were as follows:
March 31, 2024
(In thousands)Gross Book ValueAccumulated AmortizationNet Book ValueRemaining Weighted-Average Useful Life (Years)
Trademark$162,618 $(19,951)$142,667 18.1
Existing subscriber base136,500 (25,875)110,625 10.0
Developed technology38,401 (17,216)21,185 2.9
Content archive5,751 (4,287)1,464 2.4
Total finite-lived intangibles$343,270 $(67,329)$275,941 13.6
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$20,407 
202527,213 
202626,960 
202720,171 
202819,335 
Thereafter161,855 
Total amortization expense$275,941 
v3.24.1.u1
Other (Tables)
 3 Months Ended
Mar. 31, 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 Ended
(In thousands)March 31, 2024March 31, 2023
Interest income$8,638 $3,421 
Interest expense(251)(248)
Total interest income and other, net$8,387 $3,173 
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash
A reconciliation of cash, cash equivalents and restricted cash as of March 31, 2024, and March 31, 2023, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)March 31, 2024March 31, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$206,817 $235,350 
Restricted cash included within miscellaneous assets13,879 13,936 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$220,696 $249,286 
Schedule of Restrictions on Cash and Cash Equivalents
A reconciliation of cash, cash equivalents and restricted cash as of March 31, 2024, and March 31, 2023, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands)March 31, 2024March 31, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$206,817 $235,350 
Restricted cash included within miscellaneous assets13,879 13,936 
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows$220,696 $249,286 
v3.24.1.u1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 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 March 31, 2024, and December 31, 2023:
(In thousands)March 31, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:
Short-term AFS securities (1)
U.S Treasury securities$86,816 $— $86,816 $— $48,109 $— $48,109 $— 
Corporate debt securities82,511 — 82,511 — 108,069 — 108,069 — 
U.S. governmental agency securities2,911 — 2,911 — 5,916 — 5,916 — 
Total short-term AFS securities$172,238 $— $172,238 $— $162,094 $— $162,094 $— 
Long-term AFS securities (1)
Corporate debt securities$158,463 $— $158,463 $— $103,942 $— $103,942 $— 
U.S Treasury securities146,832 — 146,832 — 149,859 — 149,859 — 
U.S. governmental agency securities1,909 — 1,909 — 3,832 — 3,832 — 
Total long-term AFS securities$307,204 $— $307,204 $— $257,633 $— $257,633 $— 
Liabilities:
Deferred compensation (2)(3)
$12,368 $12,368 $— $— $13,752 $13,752 $— $— 
Contingent consideration (4)
$5,528 $— $— $5,528 $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 $53.8 million as of March 31, 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 quarters ended March 31, 2024, and March 31, 2023:
Quarters Ended
(In thousands)March 31, 2024March 31, 2023
Balance at the beginning of the period
$4,991 $5,324 
Payments— (1,724)
Fair value adjustments (1)
537 792 
Contingent consideration at the end of the period$5,528 $4,392 
(1) Fair value adjustments are included in General and administrative costs in our Condensed Consolidated Statements of Operations.
v3.24.1.u1
Pension and Other Postretirement Benefits (Tables)
 3 Months Ended
Mar. 31, 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
 March 31, 2024March 31, 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 $— $1,417 
Interest cost 13,376 2,207 15,583 14,198 2,296 16,494 
Expected return on plan assets (18,109)— (18,109)(19,122)— (19,122)
Amortization of actuarial loss 2,603 997 3,600 663 890 1,553 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension (income)/cost$(1,075)$3,204 $2,129 $(3,330)$3,186 $(144)
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 Ended
(In thousands)March 31, 2024March 31, 2023
Service cost$4 $8 
Interest cost 272 375 
Amortization of actuarial loss 174 486 
Net periodic postretirement benefit cost$450 $869 
v3.24.1.u1
Supplemental Stockholders' Equity Information (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Schedule of Changes in Accumulated Other Comprehensive Loss
The following table summarizes the changes in AOCI by component as of March 31, 2024:
(In thousands)Foreign Currency Translation AdjustmentsFunded Status of Benefit PlansNet Unrealized Loss on Available-For-Sale SecuritiesTotal Accumulated Other Comprehensive Loss
Balance as of December 31, 2023$910 $(353,286)$(486)$(352,862)
Other comprehensive loss before reclassifications, before tax(1,846)— (709)(2,555)
Amounts reclassified from accumulated other comprehensive loss, before tax— 3,288 — 3,288 
Income tax (benefit)/expense(483)899 (186)230 
Net current-period other comprehensive (loss)/income, net of tax(1,363)2,389 (523)503 
Balance as of March 31, 2024$(453)$(350,897)$(1,009)$(352,359)
Schedule of Reclassification out of Accumulated Other Comprehensive Income
The following table summarizes the reclassifications from AOCI for the three months ended March 31, 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)
$(486)Other components of net periodic benefit costs/(income)
Amortization of actuarial loss (1)
3,774 Other components of net periodic benefit costs/(income)
Total reclassification, before tax (2)
3,288 
Income tax expense899 Income tax expense
Total reclassification, net of tax$2,389 
(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.
(2) There were no reclassifications relating to noncontrolling interest for the quarter ended March 31, 2024.
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 Ended
(In thousands)March 31, 2024March 31, 2023
Cost of revenue$3,954 $2,230 
Sales and marketing392 420 
Product development6,235 3,884 
General and administrative5,275 4,366 
Total stock-based compensation expense$15,856 $10,900 
v3.24.1.u1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information
The following tables present segment information:
For the Quarters Ended
(In thousands)March 31, 2024
March 31, 2023 (1)
% Change
Revenues
NYTG$557,394 $532,782 4.6 %
The Athletic37,184 27,957 33.0 %
Intersegment eliminations (2)
(563)— *
Total revenues$594,015 $560,739 5.9 %
Adjusted operating profit (loss)
NYTG$84,744 $65,287 29.8 %
The Athletic(8,690)(11,312)(23.2)%
Total adjusted operating profit$76,054 $53,975 40.9 %
Less:
Other components of net periodic benefit costs/(income)1,051 (685)*
Depreciation and amortization20,706 20,840 (0.6)%
Severance4,428 3,780 17.1 %
Multiemployer pension plan withdrawal costs1,612 1,455 10.8 %
Generative AI Litigation Costs989 — *
Add:
Interest income and other, net8,387 3,173 *
Income before income taxes$55,655 $31,758 75.2 %
(1) Recast to reflect the Company’s updated bundle allocation methodology.
(2) Intersegment eliminations (“I/E”) related to content licensing.
* Represents a change equal to or in excess of 100% or not meaningful.
Revenues detail by segment
For the Quarters Ended
(In thousands)March 31, 2024
March 31, 2023 (1)
% Change
NYTG
Subscription$401,370 $374,156 7.3 %
Advertising98,004 102,090 (4.0)%
Other58,020 56,536 2.6 %
Total$557,394 $532,782 4.6 %
The Athletic
Subscription$27,635 $23,386 18.2 %
Advertising5,707 4,151 37.5 %
Other3,842 420 *
Total$37,184 $27,957 33.0 %
I/E (2)
$(563)$— *
The New York Times Company
Subscription$429,005 $397,542 7.9 %
Advertising103,711 106,241 (2.4)%
Other61,299 56,956 7.6 %
Total$594,015 $560,739 5.9 %
(1) Recast to reflect the Company’s updated bundle allocation methodology.
(2) I/E related to content licensing recorded in Other revenues.
* Represents a change equal to or in excess of 100% or not meaningful.
v3.24.1.u1
Basis of Presentation (Details)
 3 Months Ended
Mar. 31, 2024
segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of reportable segments 2
v3.24.1.u1
Revenue - Subscription, Advertising, and Other Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Total revenues $ 594,015 $ 560,739
Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Subscription    
Disaggregation of Revenue [Line Items]    
Total revenues $ 429,005 $ 397,542
Subscription | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 72.20% 70.90%
Advertising    
Disaggregation of Revenue [Line Items]    
Total revenues $ 103,711 $ 106,241
Advertising | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 17.50% 18.80%
Other    
Disaggregation of Revenue [Line Items]    
Total revenues $ 61,299 $ 56,956
Other | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 10.30% 10.30%
Real Estate    
Disaggregation of Revenue [Line Items]    
Revenue not from contract with customer $ 6,700 $ 7,300
v3.24.1.u1
Revenue - Digital-only Subscription Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Total revenues $ 594,015 $ 560,739
Subscription    
Disaggregation of Revenue [Line Items]    
Total revenues $ 429,005 $ 397,542
Subscription | Subscription revenue benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Subscription | Digital    
Disaggregation of Revenue [Line Items]    
Total revenues $ 292,978 $ 258,768
Subscription | Digital | Subscription revenue benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 68.30% 65.10%
Subscription | Print    
Disaggregation of Revenue [Line Items]    
Total revenues $ 136,027 $ 138,774
Subscription | Print | Subscription revenue benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 31.70% 34.90%
v3.24.1.u1
Revenue - Advertising Revenues (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Disaggregation of Revenue [Line Items]    
Total advertising $ 594,015 $ 560,739
Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Advertising    
Disaggregation of Revenue [Line Items]    
Total advertising $ 103,711 $ 106,241
Advertising | Product and service benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 17.50% 18.80%
Advertising | Advertising benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 100.00% 100.00%
Digital | Advertising    
Disaggregation of Revenue [Line Items]    
Total advertising $ 63,026 $ 61,271
Digital | Advertising | Advertising benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 60.80% 57.70%
Print | Advertising    
Disaggregation of Revenue [Line Items]    
Total advertising $ 40,685 $ 44,970
Print | Advertising | Advertising benchmark | Product concentration risk    
Disaggregation of Revenue [Line Items]    
As % of total 39.20% 42.30%
v3.24.1.u1
Revenue - Performance Obligations (Details)
$ in Millions
Mar. 31, 2024
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 183
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Remaining performance obligation $ 76
Remaining performance obligation, period 9 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 $ 76
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 $ 31
Remaining performance obligation, period 3 years
v3.24.1.u1
Revenue - Unexpired Subscriptions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Unexpired subscriptions revenue $ 178,210 $ 172,772
Revenue recognized $ 110,000  
v3.24.1.u1
Revenue - Contract Assets (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]    
Contract assets $ 3.3 $ 3.5
v3.24.1.u1
Marketable Securities - Narrative (Details) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Line of Credit Facility [Line Items]    
Pre-tax net unrealized losses in other comprehensive income $ 1,400,000 $ 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 26 months  
v3.24.1.u1
Marketable Securities - Available for Sale (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Short-term AFS securities    
Amortized cost, short-term AFS securities $ 173,610 $ 164,612
Gross unrealized gains, short-term AFS securities 32 61
Gross unrealized losses, short-term AFS securities (1,404) (2,579)
Fair value, short-term AFS securities 172,238 162,094
Long-term AFS securities    
Amortized cost, long-term AFS securities 307,213 255,796
Gross unrealized gains, long-term AFS securities 531 1,909
Gross unrealized losses, long-term AFS securities (540) (72)
Fair value, long-term AFS securities 307,204 257,633
U.S. Treasury securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 87,303 48,721
Gross unrealized gains, short-term AFS securities 25 55
Gross unrealized losses, short-term AFS securities (512) (667)
Fair value, short-term AFS securities 86,816 48,109
Long-term AFS securities    
Amortized cost, long-term AFS securities 146,981 148,878
Gross unrealized gains, long-term AFS securities 179 1,023
Gross unrealized losses, long-term AFS securities (328) (42)
Fair value, long-term AFS securities 146,832 149,859
Corporate debt securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 83,352 109,891
Gross unrealized gains, short-term AFS securities 7 6
Gross unrealized losses, short-term AFS securities (848) (1,828)
Fair value, short-term AFS securities 82,511 108,069
Long-term AFS securities    
Amortized cost, long-term AFS securities 158,301 103,061
Gross unrealized gains, long-term AFS securities 352 886
Gross unrealized losses, long-term AFS securities (190) (5)
Fair value, long-term AFS securities 158,463 103,942
U.S. governmental agency securities    
Short-term AFS securities    
Amortized cost, short-term AFS securities 2,955 6,000
Gross unrealized gains, short-term AFS securities 0 0
Gross unrealized losses, short-term AFS securities (44) (84)
Fair value, short-term AFS securities 2,911 5,916
Long-term AFS securities    
Amortized cost, long-term AFS securities 1,931 3,857
Gross unrealized gains, long-term AFS securities 0 0
Gross unrealized losses, long-term AFS securities (22) (25)
Fair value, long-term AFS securities $ 1,909 $ 3,832
v3.24.1.u1
Marketable Securities - Available-for-sale Securities - Continuous Loss Position (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
U.S. Treasury securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities $ 29,247 $ 995
Gross unrealized losses, less than 12 months, short-term AFS securities (73) (1)
Fair value, 12 months or greater, short-term AFS securities 23,487 24,978
Gross unrealized losses, 12 months or greater, short-term AFS securities (439) (666)
Fair value, short-term AFS securities 52,734 25,973
Gross unrealized losses, short-term AFS securities (512) (667)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 73,282 14,792
Gross unrealized losses, less than 12 months, long-term AFS securities (328) (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 73,282 15,082
Gross unrealized losses, long-term AFS securities (328) (42)
Corporate debt securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 9,628 5,819
Gross unrealized losses, less than 12 months, short-term AFS securities (16) (5)
Fair value, 12 months or greater, short-term AFS securities 66,987 99,504
Gross unrealized losses, 12 months or greater, short-term AFS securities (832) (1,823)
Fair value, short-term AFS securities 76,615 105,323
Gross unrealized losses, short-term AFS securities (848) (1,828)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 68,341 2,451
Gross unrealized losses, less than 12 months, long-term AFS securities (190) 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 68,341 2,696
Gross unrealized losses, long-term AFS securities (190) (5)
U.S. governmental agency securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 1,938 0
Gross unrealized losses, less than 12 months, short-term AFS securities (17) 0
Fair value, 12 months or greater, short-term AFS securities 973 5,916
Gross unrealized losses, 12 months or greater, short-term AFS securities (27) (84)
Fair value, short-term AFS securities 2,911 5,916
Gross unrealized losses, short-term AFS securities (44) (84)
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 1,909 3,832
Gross unrealized losses, less than 12 months, long-term AFS securities (22) (25)
Fair value, 12 months or greater, long-term AFS securities 0 0
Gross unrealized losses, 12 months or greater, long-term AFS securities 0 0
Fair value, long-term AFS securities 1,909 3,832
Gross unrealized losses, long-term AFS securities (22) (25)
Total short-term AFS securities    
Short-term AFS securities    
Fair value, less than 12 months, short-term AFS securities 40,813 6,814
Gross unrealized losses, less than 12 months, short-term AFS securities (106) (6)
Fair value, 12 months or greater, short-term AFS securities 91,447 130,398
Gross unrealized losses, 12 months or greater, short-term AFS securities (1,298) (2,573)
Fair value, short-term AFS securities 132,260 137,212
Gross unrealized losses, short-term AFS securities (1,404) (2,579)
Total long-term AFS securities    
Long-term AFS securities    
Fair value, less than 12 months, long-term AFS securities 143,532 21,075
Gross unrealized losses, less than 12 months, long-term AFS securities (540) (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 143,532 21,610
Gross unrealized losses, long-term AFS securities $ (540) $ (72)
v3.24.1.u1
Goodwill and Intangibles - Schedule of Goodwill Balances (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, beginning balance $ 416,098 $ 414,046
Foreign currency translation (1,471) 2,052
Goodwill, ending balance 414,627 416,098
NYTG    
Goodwill [Roll Forward]    
Goodwill, beginning balance 164,738 162,686
Foreign currency translation (1,471) 2,052
Goodwill, ending balance 163,267 164,738
The Athletic    
Goodwill [Roll Forward]    
Goodwill, beginning balance 251,360 251,360
Foreign currency translation 0 0
Goodwill, ending balance $ 251,360 $ 251,360
v3.24.1.u1
Goodwill and Intangibles - Schedule of Finite-Lived Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 343,270 $ 343,270
Accumulated Amortization (67,329) (60,257)
Net Book Value $ 275,941 $ 283,013
Remaining Weighted-Average Useful Life (Years) 13 years 7 months 6 days 13 years 8 months 12 days
Trademark    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 162,618 $ 162,618
Accumulated Amortization (19,951) (17,767)
Net Book Value $ 142,667 $ 144,851
Remaining Weighted-Average Useful Life (Years) 18 years 1 month 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 (25,875) (23,062)
Net Book Value $ 110,625 $ 113,438
Remaining Weighted-Average Useful Life (Years) 10 years 10 years 2 months 12 days
Developed technology    
Finite-Lived Intangible Assets [Line Items]    
Gross Book Value $ 38,401 $ 38,401
Accumulated Amortization (17,216) (15,381)
Net Book Value $ 21,185 $ 23,020
Remaining Weighted-Average Useful Life (Years) 2 years 10 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 (4,287) (4,047)
Net Book Value $ 1,464 $ 1,704
Remaining Weighted-Average Useful Life (Years) 2 years 4 months 24 days 2 years 6 months
v3.24.1.u1
Goodwill and Intangibles - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Business Acquisition [Line Items]      
Intangible assets, net $ 278,418   $ 285,490
Indefinite-lived intangible assets 2,500    
The Athletic      
Business Acquisition [Line Items]      
Amortization expense $ 7,100 $ 7,300  
v3.24.1.u1
Goodwill and Intangibles - Schedule of Future Amortization (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]    
Remainder of 2024 $ 20,407  
2025 27,213  
2026 26,960  
2027 20,171  
2028 19,335  
Thereafter 161,855  
Net Book Value $ 275,941 $ 283,013
v3.24.1.u1
Investments - Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]    
Equity securities $ 29.7 $ 29.7
v3.24.1.u1
Other - Narrative (Details) - USD ($)
 3 Months Ended
Jul. 27, 2022
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Other Expense [Line Items]        
Severance   $ 4,428,000 $ 3,780,000  
Severance liability   7,500,000   $ 4,400,000
Generative AI Litigation Costs   989,000 0  
Severance | Selling, General and Administrative Expenses        
Other Expense [Line Items]        
Severance   4,400,000 3,800,000  
Credit Facility        
Other Expense [Line Items]        
Unsecured revolving credit facility, unused commitment fee (quarterly) 0.20%      
Credit Facility | Amended Credit Facility        
Other Expense [Line Items]        
Unsecured revolving credit facility, maximum borrowing capacity $ 350,000,000      
Line of credit facility, outstanding borrowings   0   0
Letters of credit outstanding   600,000   $ 600,000
Capitalized Computer Software Costs        
Other Expense [Line Items]        
Capitalized computer software amortization   $ 2,000,000 $ 1,700,000  
v3.24.1.u1
Other - Interest Income and Other, Net (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Other Income and Expenses [Abstract]    
Interest income $ 8,638 $ 3,421
Interest expense (251) (248)
Total interest income and other, net $ 8,387 $ 3,173
v3.24.1.u1
Other - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Dec. 31, 2022
Reconciliation of cash, cash equivalents and restricted cash        
Cash and cash equivalents $ 206,817 $ 289,472 $ 235,350  
Restricted cash included within miscellaneous assets 13,879   13,936  
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 220,696 $ 303,172 $ 249,286 $ 235,173
v3.24.1.u1
Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities $ 172,238 $ 162,094
Long-term AFS securities 307,204 257,633
Deferred compensation plan assets 53,800 52,300
U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 86,816 48,109
Long-term AFS securities 146,832 149,859
Corporate debt securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term AFS securities 82,511 108,069
Long-term AFS securities 158,463 103,942
Estimate of Fair Value Measurement | Recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Deferred compensation 12,368 13,752
Contingent consideration 5,528 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 12,368 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 5,528 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 172,238 162,094
Long-term AFS securities 307,204 257,633
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 172,238 162,094
Long-term AFS securities 307,204 257,633
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 86,816 48,109
Long-term AFS securities 146,832 149,859
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 86,816 48,109
Long-term AFS securities 146,832 149,859
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 82,511 108,069
Long-term AFS securities 158,463 103,942
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 82,511 108,069
Long-term AFS securities 158,463 103,942
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 2,911 5,916
Long-term AFS securities 1,909 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 2,911 5,916
Long-term AFS securities 1,909 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
v3.24.1.u1
Fair Value Measurements - Change in Balance of Contingent Consideration (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Contingent consideration redemption period (in years) 5 years  
Contingent Consideration | Recurring    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at the beginning of the period $ 4,991 $ 5,324
Payments 0 (1,724)
Fair value adjustments 537 792
Contingent consideration at the end of the period $ 5,528 $ 4,392
v3.24.1.u1
Pension and Other Postretirement Benefits - Pension Benefits - Net Periodic Pension (Income)/Cost (Details) - Pension Plan - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pension Benefits    
Service cost $ 1,541 $ 1,417
Interest cost 15,583 16,494
Expected return on plan assets (18,109) (19,122)
Amortization of actuarial loss 3,600 1,553
Amortization of prior service credit (486) (486)
Net periodic pension (income)/cost or postretirement benefit cost 2,129 (144)
Qualified Plans    
Pension Benefits    
Service cost 1,541 1,417
Interest cost 13,376 14,198
Expected return on plan assets (18,109) (19,122)
Amortization of actuarial loss 2,603 663
Amortization of prior service credit (486) (486)
Net periodic pension (income)/cost or postretirement benefit cost (1,075) (3,330)
Non- Qualified Plans    
Pension Benefits    
Service cost 0 0
Interest cost 2,207 2,296
Expected return on plan assets 0 0
Amortization of actuarial loss 997 890
Amortization of prior service credit 0 0
Net periodic pension (income)/cost or postretirement benefit cost $ 3,204 $ 3,186
v3.24.1.u1
Pension and Other Postretirement Benefits - Narrative (Details) - Pension Plan - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pension Benefits    
Pension contributions $ 3.4 $ 2.0
Expected future employer contributions $ 12.0  
v3.24.1.u1
Pension and Other Postretirement Benefits - Other Postretirement Benefits (Details) - Other Postretirement Benefit Plan - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pension Benefits    
Service cost $ 4 $ 8
Interest cost 272 375
Amortization of actuarial loss 174 486
Net periodic pension (income)/cost or postretirement benefit cost $ 450 $ 869
v3.24.1.u1
Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]    
Income tax expense $ 15,238 $ 9,437
Effective income tax rate 27.40% 29.70%
v3.24.1.u1
Earnings Per Share (Details) - shares
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (in shares) 1,000,000 400,000
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 1,100,000
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
v3.24.1.u1
Supplemental Stockholders' Equity Information - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 26 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Feb. 28, 2023
Feb. 28, 2022
Class of Stock [Line Items]          
Stock repurchase program, authorized amount       $ 250,000 $ 150,000
Share repurchases $ 32,709 $ 30,720      
Stock repurchase program, remaining authorized repurchase amount 218,000   $ 218,000    
Class A Common Stock          
Class of Stock [Line Items]          
Share repurchases $ 32,400   $ 182,000    
v3.24.1.u1
Supplemental Stockholders' Equity Information - Changes in Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period $ 1,763,219 $ 1,599,972
Other comprehensive loss before reclassifications, before tax (2,555)  
Amounts reclassified from accumulated other comprehensive loss, before tax 3,288  
Income tax (benefit)/expense 230  
Net current-period other comprehensive (loss)/income, net of tax 503 3,709
Balance, end of period 1,747,962 1,576,790
Foreign Currency Translation Adjustments    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period 910  
Other comprehensive loss before reclassifications, before tax (1,846)  
Amounts reclassified from accumulated other comprehensive loss, before tax 0  
Income tax (benefit)/expense (483)  
Net current-period other comprehensive (loss)/income, net of tax (1,363)  
Balance, end of period (453)  
Funded Status of Benefit Plans    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period (353,286)  
Other comprehensive loss before reclassifications, before tax 0  
Amounts reclassified from accumulated other comprehensive loss, before tax 3,288  
Income tax (benefit)/expense 899  
Net current-period other comprehensive (loss)/income, net of tax 2,389  
Balance, end of period (350,897)  
Net Unrealized Loss on Available-For-Sale Securities    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period (486)  
Other comprehensive loss before reclassifications, before tax (709)  
Amounts reclassified from accumulated other comprehensive loss, before tax 0  
Income tax (benefit)/expense (186)  
Net current-period other comprehensive (loss)/income, net of tax (523)  
Balance, end of period (1,009)  
Total Accumulated Other Comprehensive Loss    
Accumulated Other Comprehensive Income (Loss) [Roll Forward]    
Balance, beginning of period (352,862) (357,847)
Net current-period other comprehensive (loss)/income, net of tax 503 3,709
Balance, end of period $ (352,359) $ (354,138)
v3.24.1.u1
Supplemental Stockholders' Equity Information - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Other components of net periodic benefit (costs)/income $ 1,051 $ (685)
Total reclassification, before tax (55,655) (31,758)
Income tax expense (15,238) (9,437)
Total reclassification, net of tax (40,417) $ (22,321)
Amounts reclassified from accumulated other comprehensive loss    
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]    
Total reclassification, before tax 3,288  
Income tax expense 899  
Total reclassification, net of tax 2,389  
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 (486)  
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 $ 3,774  
v3.24.1.u1
Supplemental Stockholders' Equity Information - Total Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 15,856 $ 10,900
Cost of revenue    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 3,954 2,230
Sales and marketing    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 392 420
Product development    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 6,235 3,884
General and administrative    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 5,275 $ 4,366
v3.24.1.u1
Segment Information - Narrative (Details) - segment
 3 Months Ended
Mar. 31, 2024
Apr. 01, 2023
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%
v3.24.1.u1
Segment Information - Segment Information (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Segment Reporting Information [Line Items]    
Total revenues $ 594,015 $ 560,739
Revenues, percent change 0.059  
Total adjusted operating profit $ 76,054 53,975
Adjusted operating profit, percent change 0.409  
Other components of net periodic benefit costs/(income) $ 1,051 (685)
Depreciation and amortization $ 20,706 20,840
Depreciation and amortization, percent change (0.006)  
Severance $ 4,428 3,780
Severance, percent change 17.10%  
Multiemployer pension plan withdrawal costs $ 1,612 1,455
Multiemployer pension plan withdrawal costs, percent change 0.108  
Generative AI Litigation Costs $ 989 0
Interest income and other, net 8,387 3,173
Income before income taxes $ 55,655 31,758
Income before income taxes, percent change 75.20%  
Intersegment Eliminations    
Segment Reporting Information [Line Items]    
Total revenues $ (563) 0
NYTG | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 557,394 532,782
Revenues, percent change 0.046  
Total adjusted operating profit $ 84,744 65,287
Adjusted operating profit, percent change 0.298  
The Athletic | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 37,184 27,957
Revenues, percent change 0.330  
Total adjusted operating profit $ (8,690) $ (11,312)
Adjusted operating profit, percent change (0.232)  
v3.24.1.u1
Segment Information - Revenues Detail by Segment (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Segment Reporting Information [Line Items]    
Total revenues $ 594,015 $ 560,739
Revenues, percent change 0.059  
Intersegment Eliminations    
Segment Reporting Information [Line Items]    
Total revenues $ (563) 0
Subscription    
Segment Reporting Information [Line Items]    
Total revenues $ 429,005 397,542
Revenues, percent change 0.079  
Advertising    
Segment Reporting Information [Line Items]    
Total revenues $ 103,711 106,241
Revenues, percent change (0.024)  
Other    
Segment Reporting Information [Line Items]    
Total revenues $ 61,299 56,956
Revenues, percent change 0.076  
NYTG | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 557,394 532,782
Revenues, percent change 0.046  
NYTG | Subscription | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 401,370 374,156
Revenues, percent change 0.073  
NYTG | Advertising | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 98,004 102,090
Revenues, percent change (0.040)  
NYTG | Other | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 58,020 56,536
Revenues, percent change 0.026  
The Athletic | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 37,184 27,957
Revenues, percent change 0.330  
The Athletic | Subscription | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 27,635 23,386
Revenues, percent change 0.182  
The Athletic | Advertising | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 5,707 4,151
Revenues, percent change 0.375  
The Athletic | Other | Operating Segments    
Segment Reporting Information [Line Items]    
Total revenues $ 3,842 $ 420