$NYT

NEW YORK TIMES CO

CIK:0000071691|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Total revenues	$ 762,455	$ 685,873	$ 1,474,691	$ 1,321,783
Operating costs
Cost of revenue (excluding depreciation and amortization)	367,841	338,779	730,777	673,416
Sales and marketing	85,509	69,165	162,772	135,124
Product development	70,350	63,940	140,543	130,479
General and administrative	85,767	82,552	172,219	162,465
Depreciation and amortization	21,123	21,396	41,686	42,774
Generative AI Litigation Costs	4,628	3,490	8,840	7,887
Multiemployer pension plan liability adjustments	9,219	0	9,219	4,453
Total operating costs	644,437	579,322	1,266,056	1,156,598
Operating profit	118,018	106,551	208,635	165,185
Other components of net periodic benefit costs	(3,637)	(4,639)	(7,219)	(9,277)
Interest income and other, net	10,834	9,752	22,117	19,724
Income before income taxes	125,215	111,664	223,533	175,632
Income tax expense	31,797	28,719	42,193	43,136
Net income	$ 93,418	$ 82,945	$ 181,340	$ 132,496
Average number of common shares outstanding:
Basic (in shares)	162,038	163,331	162,057	163,576
Diluted (in shares)	163,042	164,346	163,374	164,787
Basic earnings per share attributable to common stockholders (in usd per share)	$ 0.58	$ 0.51	$ 1.12	$ 0.81
Diluted earnings per share attributable to common stockholders (in usd per share)	0.57	0.50	1.11	0.80
Dividends declared per share (in usd per share)	$ 0.23	$ 0.18	$ 0.46	$ 0.36
Subscription
Revenues
Total revenues	$ 537,880	$ 481,420	$ 1,054,751	$ 945,677
Advertising
Revenues
Total revenues	149,123	133,974	275,947	242,050
Affiliate, licensing and other
Revenues
Total revenues	$ 75,452	$ 70,479	$ 143,993	$ 134,056

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 181,340	$ 132,496
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	41,686	42,774
Amortization of right-of-use asset	5,413	4,665
Stock-based compensation expense	39,262	35,156
Multiemployer pension plan liability adjustments	9,219	4,453
Change in long-term retirement benefit obligations	(7,205)	(5,063)
Other – net	(1,406)	1,067
Changes in operating assets and liabilities:
Accounts receivable – net	54,797	38,452
Other assets	1,232	29,271
Accounts payable, accrued payroll and other liabilities	(41,811)	(75,334)
Unexpired subscriptions	3,587	2,930
Other noncurrent assets and liabilities	386	1,859
Net cash provided by operating activities	286,500	212,726
Cash flows from investing activities
Purchases of marketable securities	(301,109)	(300,360)
Maturities of marketable securities	224,755	260,305
Capital expenditures	(20,834)	(19,573)
Other – net	453	7,546
Net cash used in investing activities	(96,735)	(52,082)
Cash flows from financing activities
Dividends paid	(67,574)	(51,670)
Capital shares:
Repurchases	(91,780)	(82,561)
Share-based compensation tax withholding	(53,495)	(27,520)
Net cash used in financing activities	(212,849)	(161,751)
Net decrease in cash, cash equivalents and restricted cash	(23,084)	(1,107)
Effect of exchange rate changes on cash	(858)	207
Cash, cash equivalents and restricted cash at the beginning of the period	270,461	213,857
Cash, cash equivalents and restricted cash at the end of the period	$ 246,519	$ 212,957

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 232,657	$ 255,445
Short-term marketable securities	428,155	386,712
Accounts receivable (net of allowances of $11,866 as of June 30, 2026, and $11,406 as of December 31, 2025)	236,026	290,823
Prepaid expenses	68,037	60,017
Other current assets	58,334	35,070
Total current assets	1,023,209	1,028,067
Other assets
Long-term marketable securities	555,497	525,695
Property, plant and equipment (less accumulated depreciation and amortization of $965,710 as of June 30, 2026, and $945,338 as of December 31, 2025)	455,178	462,365
Goodwill	407,204	409,212
Intangible assets, net	215,414	229,376
Deferred income taxes	49,600	72,830
Miscellaneous assets	278,428	269,545
Total assets	2,984,530	2,997,090
Current liabilities
Accounts payable	154,993	135,623
Accrued payroll and other related liabilities	148,739	186,129
Unexpired subscriptions revenue	211,210	207,623
Accrued expenses and other	132,779	137,320
Total current liabilities	647,721	666,695
Other liabilities
Pension and postretirement benefits obligation	211,398	210,838
Other	77,875	78,194
Total other liabilities	289,273	289,032
Common stock of $.10 par value:
Additional paid-in capital	402,642	411,532
Retained earnings	2,656,665	2,550,539
Common stock held in treasury, at cost	(664,838)	(572,878)
Accumulated other comprehensive loss, net of income taxes:
Foreign currency translation adjustments	(6,979)	(4,883)
Funded status of benefit plans	(355,934)	(363,262)
Net unrealized (loss)/gain on available-for-sale securities	(2,092)	2,339
Total accumulated other comprehensive loss, net of income taxes	(365,005)	(365,806)
Total stockholders’ equity	2,047,536	2,041,363
Total liabilities and stockholders’ equity	2,984,530	2,997,090
Class A Common Stock
Common stock of $.10 par value:
Common stock value	17,994	17,898
Class B Common Stock
Common stock of $.10 par value:
Common stock value	$ 78	$ 78