Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Jun. 30, 2014 | Feb. 27, 2015 | |
Entity Registrant Name | A. H. Belo Corp | ||
Entity Central Index Key | 1413898 | ||
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Current Fiscal Year End Date | -19 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Public Float | $223,440,910 | ||
Series A: Common stock | |||
Entity Common Stock, Shares Outstanding | 19,342,555 | ||
Series B: Common stock | |||
Entity Common Stock, Shares Outstanding | 2,388,237 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Operating Revenue | |||
Advertising and marketing services | $158,183 | $167,945 | $170,113 |
Circulation | 84,922 | 86,274 | 88,662 |
Printing, distribution and other | 29,683 | 21,964 | 22,149 |
Total net operating revenues | 272,788 | 276,183 | 280,924 |
Operating Costs and Expense | |||
Employee compensation and benefits | 111,710 | 110,412 | 111,255 |
Other production, distribution and operating costs | 122,239 | 114,720 | 114,417 |
Newsprint, ink and other supplies | 32,507 | 34,847 | 34,073 |
Depreciation | 13,820 | 14,861 | 17,045 |
Amortization | 198 | 121 | 0 |
Total operating costs and expense | 280,474 | 274,961 | 276,790 |
Operating income (loss) | -7,686 | 1,222 | 4,134 |
Other Income, Net | |||
Gains on equity method investments, net | 93,898 | 2,269 | 2,399 |
Other income, net | 5,773 | 196 | 996 |
Interest expense | 0 | 311 | 629 |
Total other income, net | 99,671 | 2,154 | 2,766 |
Income from Continuing Operations Before Income Taxes | 91,985 | 3,376 | 6,900 |
Income tax provision | 5,978 | 1,460 | 1,793 |
Income from Continuing Operations | 86,007 | 1,916 | 5,107 |
Income (Loss) from discontinued operations | 4,064 | 665 | -4,749 |
Gain related to the divestiture of discontinued operations | 17,057 | 13,402 | 0 |
Tax expense (benefit) from discontinued operations | 14,351 | 57 | -61 |
Income (Loss) from Discontinued Operations, Net | 6,770 | 14,010 | -4,688 |
Net Income | 92,777 | 15,926 | 419 |
Net loss attributable to noncontrolling interests | -152 | -193 | -107 |
Net Income Attributable to A. H. Belo Corporation | $92,929 | $16,119 | $526 |
Per Share Basis, Basic | |||
Income (Loss) from Continuing Operations, Per Basic Share | $3.84 | $0.07 | $0.22 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share | $0.31 | $0.64 | ($0.21) |
Earnings Per Share, Basic | $4.15 | $0.71 | $0.01 |
Earnings Per Share, Diluted | |||
Income (Loss) from Continuing Operations, Per Diluted Share | $3.82 | $0.07 | $0.22 |
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share | $0.31 | $0.64 | ($0.21) |
Earnings Per Share, Diluted | $4.13 | $0.71 | $0.01 |
Weighted average shares outstanding | |||
Basic | 21,899,602 | 21,967,666 | 21,947,981 |
Diluted | 22,006,022 | 22,063,741 | 22,065,856 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Income | $92,777 | $15,926 | $419 |
Other comprehensive income (loss), net of tax | |||
Actuarial gains (losses) | -49,228 | 57,458 | -10,495 |
Amortization of net actuarial losses | 6,954 | 981 | 32 |
Total other comprehensive (loss) income | -42,274 | 58,439 | -10,463 |
Comprehensive Income (Loss) | 50,503 | 74,365 | -10,044 |
Comprehensive loss attributable to noncontrolling interests | -152 | -193 | -107 |
Total Comprehensive Income (Loss) Attributable to A. H. Belo Corporation | $50,655 | $74,558 | ($9,937) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $158,171 | $82,193 |
Accounts receivable (net of allowance of $1,262 and $1,248 at December 31, 2014 and December 31, 2013, respectively) | 34,396 | 32,270 |
Inventories | 4,901 | 5,567 |
Prepaids and other current assets | 8,422 | 5,618 |
Deferred income taxes, net | 0 | 61 |
Assets of discontinued operations | 565 | 42,716 |
Total current assets | 206,455 | 168,425 |
Property, plant and equipment, at cost: | ||
Land | 22,150 | 25,734 |
Buildings and improvements | 155,035 | 158,713 |
Publishing equipment | 214,179 | 214,959 |
Other | 79,941 | 88,716 |
Construction in process | 881 | 876 |
Property, plant and equipment, at cost | 472,186 | 488,998 |
Less accumulated depreciation | -410,597 | -414,135 |
Property, plant and equipment, net | 61,589 | 74,863 |
Intangible assets, net | 656 | 241 |
Goodwill | 24,582 | 24,582 |
Investments | 2,572 | 7,333 |
Deferred income taxes, net | 0 | 538 |
Other assets | 2,893 | 3,236 |
Total assets | 298,747 | 279,218 |
Current liabilities: | ||
Accounts payable | 12,904 | 13,717 |
Accrued compensation and benefits | 8,233 | 9,816 |
Dividends Payable | 50,148 | 0 |
Other accrued expense | 13,684 | 4,459 |
Advance subscription payments | 15,894 | 14,842 |
Liabilities of discontinued operations | 543 | 11,538 |
Total current liabilities | 101,406 | 54,372 |
Long-term pension liabilities | 65,859 | 50,082 |
Other post-employment benefits | 2,656 | 2,730 |
Deferred income taxes, net | 530 | 0 |
Other liabilities | 2,277 | 3,258 |
Shareholders' equity: | ||
Preferred stock, $.01 par value; Authorized 2,000,000 shares; none issued | 0 | 0 |
Treasury stock, Series A, at cost; 944,636 and 495,200 shares held at December 31, 2014 and 2013, respectively | -8,087 | -3,113 |
Additional paid-in capital | 499,320 | 496,682 |
Accumulated other comprehensive loss | -57,367 | -15,093 |
Accumulated deficit | -308,330 | -310,099 |
Total shareholders’ equity attributable to A. H. Belo Corporation | 125,763 | 168,600 |
Noncontrolling interests | 256 | 176 |
Total shareholders’ equity | 126,019 | 168,776 |
Total liabilities and shareholders’ equity | 298,747 | 279,218 |
Series A: Common stock | ||
Shareholders' equity: | ||
Common stock, $.01 par value; Authorized 125,000,000 shares | 203 | 199 |
Series B: Common stock | ||
Shareholders' equity: | ||
Common stock, $.01 par value; Authorized 125,000,000 shares | $24 | $24 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts receivable | $1,262 | $1,248 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 125,000,000 | 125,000,000 |
Series A: Common stock | ||
Common Stock, Shares, Issued | 20,341,501 | 19,931,599 |
Treasury stock Series A, shares held | 944,636 | 495,200 |
Series B: Common stock | ||
Common Stock, Shares, Issued | 2,388,237 | 2,397,155 |
Consolidated_Statements_of_Sha
Consolidated Statements of Shareholders' Equity (USD $) | Total | Series A | Common Stock | Common Stock | Common Stock | Additional Paid-in Capital | Treasury Stock | Treasury Stock | Accumulated Other Comprehensive Income/(Loss) | Accumulated Deficit | Noncontrolling Interests |
In Thousands, except Share data, unless otherwise specified | USD ($) | USD ($) | Series A | Series B | USD ($) | USD ($) | Series A | USD ($) | USD ($) | USD ($) | |
Beginning Balance at Dec. 31, 2011 | $121,479 | $216 | $493,773 | $0 | ($63,069) | ($309,441) | $0 | ||||
Beginning Balance, Treasury Stock at Dec. 31, 2011 | 0 | ||||||||||
Beginning Balance, Shares Common Stock at Dec. 31, 2011 | 19,182,236 | 2,398,017 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income | 419 | 526 | -107 | ||||||||
Other comprehensive income | -10,463 | -10,463 | |||||||||
Treasury stock purchases, shares | -74,130 | ||||||||||
Treasury stock purchases | -350 | ||||||||||
Issuance of shares for restricted stock units, shares | 319,807 | ||||||||||
Issuance of shares for restricted stock units | 0 | 3 | -3 | ||||||||
Issuance of shares from stock option exercises, shares | 153,326 | 136,826 | 16,500 | ||||||||
Issuance of shares for stock option exercises | 300 | 2 | 298 | ||||||||
Income tax benefit on options and RSUs | 173 | 173 | |||||||||
Share-based compensation | 1,287 | 1,287 | |||||||||
Conversion of Series B to Series A, shares | 12,961 | -12,961 | |||||||||
Conversion of Series B to Series A | 0 | ||||||||||
Dividends | -10,947 | -10,947 | |||||||||
Ending Balance at Dec. 31, 2012 | 102,060 | 221 | 495,528 | -350 | -73,532 | -319,862 | 55 | ||||
Ending Balance, Shares Treasury Stock at Dec. 31, 2012 | -74,130 | ||||||||||
Ending Balance, Shares Common Stock at Dec. 31, 2012 | 19,651,830 | 2,401,556 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income | 15,926 | 16,119 | -193 | ||||||||
Other comprehensive income | 58,439 | 58,439 | |||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 314 | 314 | |||||||||
Treasury stock purchases, shares | -421,070 | ||||||||||
Treasury stock purchases | -2,763 | -2,763 | |||||||||
Issuance of shares for restricted stock units, shares | 256,548 | ||||||||||
Issuance of shares for restricted stock units | 0 | 2 | -2 | ||||||||
Issuance of shares from stock option exercises, shares | 18,820 | 18,820 | 0 | ||||||||
Issuance of shares for stock option exercises | 69 | 0 | 69 | ||||||||
Income tax benefit on options and RSUs | -188 | -188 | |||||||||
Share-based compensation | 1,275 | 1,275 | |||||||||
Conversion of Series B to Series A, shares | 4,401 | -4,401 | |||||||||
Conversion of Series B to Series A | 0 | ||||||||||
Dividends | -6,356 | -6,356 | |||||||||
Ending Balance at Dec. 31, 2013 | 168,776 | 223 | 496,682 | -3,113 | -15,093 | -310,099 | 176 | ||||
Ending Balance, Shares Treasury Stock at Dec. 31, 2013 | -495,200 | -495,200 | |||||||||
Ending Balance, Shares Common Stock at Dec. 31, 2013 | 19,931,599 | 2,397,155 | |||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||
Net Income | 92,777 | 92,929 | -152 | ||||||||
Other comprehensive income | -42,274 | -42,274 | |||||||||
Noncontrolling Interest, Increase from Subsidiary Equity Issuance | 232 | 232 | |||||||||
Treasury stock purchases, shares | -449,436 | ||||||||||
Treasury stock purchases | -4,974 | -4,974 | |||||||||
Issuance of shares for restricted stock units, shares | 210,522 | ||||||||||
Issuance of shares for restricted stock units | 0 | 2 | -2 | ||||||||
Issuance of shares from stock option exercises, shares | 190,462 | 190,462 | 0 | ||||||||
Issuance of shares for stock option exercises | 941 | 2 | 939 | ||||||||
Income tax benefit on options and RSUs | 933 | 933 | |||||||||
Share-based compensation | 768 | 768 | |||||||||
Conversion of Series B to Series A, shares | 8,918 | -8,918 | |||||||||
Conversion of Series B to Series A | 0 | ||||||||||
Dividends | -91,160 | -91,160 | |||||||||
Ending Balance at Dec. 31, 2014 | $126,019 | $227 | $499,320 | ($8,087) | ($57,367) | ($308,330) | $256 | ||||
Ending Balance, Shares Treasury Stock at Dec. 31, 2014 | -944,636 | -944,636 | |||||||||
Ending Balance, Shares Common Stock at Dec. 31, 2014 | 20,341,501 | 2,388,237 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | |||
Net Income | $92,777 | $15,926 | $419 |
Adjustments to reconcile net income to net cash (used for) provided by operations: | |||
Net (income) loss from discontinued operations | -6,770 | -14,010 | 4,688 |
Cash contributions to employee benefit plans in excess of net periodic expense | -26,448 | -16,830 | -33,896 |
Equity method investment (gains) losses in excess of dividends | -18,677 | 683 | -201 |
Depreciation and amortization | 14,018 | 14,982 | 17,045 |
Share-based compensation | 702 | 1,059 | 1,095 |
Gain on disposal of fixed assets | -2,787 | -6 | -387 |
Deferred income taxes | 780 | -244 | 269 |
Gain on investment related activity, net | -78,762 | 0 | 0 |
Other operating activities | -672 | 485 | -144 |
Changes in working capital and other operating assets and liabilities, net | |||
Accounts receivable | 1,002 | -1,708 | 1,177 |
Inventories, prepaids and other current assets | -2,138 | 1,236 | 535 |
Other assets | 343 | -478 | 1,435 |
Accounts payable | -813 | 2,005 | -2,964 |
Compensation and benefit obligations | -2,564 | -1,512 | 98 |
Other accrued expenses | -4,304 | -397 | -4,971 |
Advance subscription payments | 1,052 | 1,160 | -3,016 |
Other post-employment benefits | -57 | 110 | 0 |
Net cash (used for) provided by continuing operations | -33,318 | 2,461 | -18,818 |
Net cash provided by discontinued operations | 6,856 | 11,777 | 17,461 |
Net cash (used for) provided by operating activities | -26,462 | 14,238 | -1,357 |
Investing Activities | |||
Purchase of investments | 97,440 | 0 | 0 |
Proceeds from sale of fixed assets | 10,085 | 6 | 628 |
Investment distribution proceeds | -7,844 | -4,258 | -7,047 |
Proceeds from other investing activities | 3,540 | 0 | 0 |
Capital expenditures, net | -2,279 | -1,377 | -742 |
Other investment related proceeds | 0 | 0 | 144 |
Net cash provided by (used for) continuing investing activities | 100,942 | -5,629 | -7,017 |
Net cash provided by (used for) discontinued investing activities | 45,561 | 48,313 | -4,275 |
Net cash provided by (used for) investing activities | 146,503 | 42,684 | -11,292 |
Financing Activities | |||
Dividends paid | -41,012 | -6,356 | -10,947 |
Purchase of treasury stock | -4,974 | -2,763 | -350 |
Proceeds from exercise of stock options | 941 | 69 | 300 |
Income tax benefit on options and RSUs | 933 | 0 | 173 |
Capital contributions by noncontrolling interests | 49 | 227 | 127 |
Net Cash Provided by (Used in) Financing Activities | -44,063 | -8,823 | -10,697 |
Net increase (decrease) in cash and cash equivalents | 75,978 | 48,099 | -23,346 |
Net cash used for financing activities | 82,193 | 34,094 | 57,440 |
Net increase (decrease) in cash and cash equivalents | $158,171 | $82,193 | $34,094 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Accounting Policies [Abstract] | ||||
Summary of Significant Accounting Policies | Description of Business. A. H. Belo Corporation and subsidiaries (“A. H. Belo” or the “Company”), headquartered in Dallas, Texas, is a leading local news and information publishing company with commercial printing, distribution and direct mail capabilities, as well as expertise in emerging media and digital marketing. With a continued focus on extending the Company’s media platform, A. H. Belo is able to deliver news and information in innovative ways to a broad spectrum of audiences with diverse interests and lifestyles. | |||
The Company publishes The Dallas Morning News (www.dallasnews.com), Texas’ leading newspaper and winner of nine Pulitzer Prizes; the Denton Record-Chronicle (www.dentonrc.com), a daily newspaper operating in Denton, Texas, and various niche publications targeting specific audiences. A. H. Belo also offers digital marketing solutions through 508 Digital and Your Speakeasy, LLC and provides event promotion and marketing services through Crowdsource. | ||||
Basis of Presentation. These consolidated financial statements include the accounts of A. H. Belo and its subsidiaries. The Company follows the guidance set by the Financial Accounting Standards Board (“FASB”) or other authoritative accounting standards-setting bodies. Under Accounting Standards Codification (“ASC”) 810 – Consolidation, the Company determines whether subsidiaries, joint ventures, partnerships and other arrangements should be consolidated. Transactions between the consolidated companies are eliminated and noncontrolling interests in less than wholly-owned subsidiaries are reflected in the consolidated financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, all adjustments considered necessary for a fair presentation are included. All dollar amounts are presented in thousands, except per share amounts, unless the context requires otherwise. | ||||
The FASB recently issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under this amendment, requirements for reporting discontinued operations have changed. Discontinued operations may include disposals of a business, nonprofit activity or component of an entity upon meeting certain other criteria. Disposals representing components of an entity must reflect a strategic shift that has a major effect on the entity’s operations and financial results. Previous conditions prohibiting the entity from having significant continuing involvement in the disposal group and requiring the elimination of operations and cash flows from ongoing operations of the entity have been removed. The update is effective on a prospective basis for disposals that occur within annual periods beginning on or after December 15, 2014, and interim periods in those years. | ||||
In 2014, the Company completed the sale of substantially all of the assets and certain liabilities which comprise the newspaper operations of The Providence Journal, a daily newspaper in Providence, Rhode Island and the oldest continuously-published daily newspaper in the United States. In 2013, the Company completed the disposition of The Press‑Enterprise, a daily newspaper in Riverside, California, which serves the Inland Southern California region. As described in Note 2 – Discontinued Operations and Sales of Assets, these dispositions meet the criteria of discontinued operations as prescribed under the Accounting Standards Codification 205 - Presentation of Financial Statements. Accordingly, presentation of current and prior period amounts in the consolidated financial statements and notes thereto reflect continuing operations of the Company unless otherwise noted. | ||||
The update to the standard also expands the scope of ASC 205 to disposals of equity method investments and businesses that, upon initial acquisition, qualify as held for sale. Also in 2014, the Company completed the sale of its membership interest in Classified Ventures, an equity method investee. This disposition was completed prior to the Company’s adoption of ASU 2014-08 and, as such, current and prior period amounts related to the investment are presented as continuing operations of the Company. | ||||
The Company adopted ASU 2014-08 on January 1, 2015. The Company does not anticipate the implementation of this update will impact the presentation of discontinued operations within its financial statements. | ||||
Cash and Cash Equivalents. The Company considers all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. | ||||
Accounts Receivable. Accounts receivable are net of a valuation reserve that represents an estimate of amounts considered uncollectible. The Company estimates the allowance for doubtful accounts based on historical write-off experience and the Company’s knowledge of the customers’ ability to pay amounts due. The Company’s policy is to write-off accounts after all collection efforts fail; generally, amounts past due by more than one year are written-off. Expense for such uncollectible amounts is included in other production, distribution and operating costs. Bad debt expense for 2014 and 2013 was $2,220 and $2,025, respectively. Write-offs, net of recoveries and other adjustments for 2014 and 2013 were $2,206 and $2,553, respectively. | ||||
Risk Concentration. Financial instruments subject to potential concentration of credit risk include cash equivalents and accounts receivable. The Company invests available cash balances in an overnight deposit fund holding commercial paper of a single issuer. The issuer’s commercial paper is graded A1 by Moody’s and overnight holdings in the fund were $147,437 as of December 31, 2014. | ||||
A significant portion of the Company’s customer base is concentrated within the North Texas geographical area. The Company generally extends credit to customers, and the ultimate collection of accounts receivable could be affected by the national and local economy. Management continually performs credit evaluations of its customers and may require cash in advance or other special arrangements from certain customers. The Company maintains an allowance for losses based upon the collectibility of accounts receivable. Management does not believe significant credit risk exists that could have a material adverse effect on the Company’s consolidated financial condition, liquidity or results of operations. | ||||
Inventories. Inventories, consisting primarily of newsprint, ink and other supplies used in printing newspapers, are recorded at average cost. The Company reviews its inventories for obsolescence and records an expense for any items that no longer have future value. | ||||
Property, Plant and Equipment. The Company records property, plant and equipment at cost or its fair value if acquired through a business acquisition or non-monetary exchange. Depreciable assets are reviewed to ensure the remaining useful life of the assets continue to be appropriate and the Company records any resulting adjustments to depreciation expense on a prospective basis. Depreciation of property, plant and equipment is recorded on a straight-line basis over the estimated useful lives of the assets as follows: | ||||
Estimated | ||||
Useful Lives | ||||
Buildings and improvements | 5 | - | 30 years | |
Newspaper publishing equipment | 3 | - | 20 years | |
Other | 3 | - | 10 years | |
Goodwill. The Company records goodwill at the reporting unit level based on the excess fair value of prior business acquisitions over the fair value of the assets and liabilities acquired. Reporting units of the Company are based on its internal reporting structure and represent a reporting level below an operating segment. Unless qualitative factors allow the Company to conclude it is more likely than not that the fair value of the reporting unit exceeds its carrying value, the Company tests for goodwill impairment by estimating the fair value of the reporting unit. If the fair value of the reporting unit is less than its carrying value, the Company will determine a fair value for the reporting unit’s underlying assets and liabilities and adjust goodwill accordingly. The Company uses a discounted cash flow model to calculate the fair value of its reporting units. The model includes a number of significant assumptions and estimates regarding future cash flows including discount rates, volumes, prices, capital expenditures and the impact of current market conditions. These estimates could be materially impacted by changes in market conditions. The Company performs the goodwill impairment test as of December 31 each fiscal year or when changes in circumstances indicate an impairment event may have occurred. Impairment charges represent non-cash charges and do not affect the Company’s liquidity, cash flows from operating activities or have any effect on future operations. | ||||
Long-Lived Assets. The Company evaluates its ability to recover the carrying value of property, plant and equipment and finite-lived intangible assets, using the lowest level of cash flows associated with the assets, which are grouped based on the Company’s intended use of these assets. This evaluation is performed whenever a change in circumstances indicates that the carrying value of the asset groups may not be recoverable from future undiscounted cash flows. If the analysis of future cash flows indicates the carrying value of the long-lived assets cannot be recovered, the assets are adjusted to the lower of its carrying value or fair value. | ||||
Investments. The Company owns certain equity securities in companies in which it does not exercise control. For those investments where the Company is able to exercise significant influence over the investee as defined under ASC 323 – Equity Method and Joint Ventures, the Company accounts for the investment under the equity method of accounting, recognizing its share of the investee’s income or loss as a component of earnings. All other investments are recorded under the cost method and the Company recognizes income or loss upon the receipt of dividends or distributions, or upon liquidation of the investment. Each reporting period, the Company evaluates its ability to recover the carrying value of both equity and cost method investments based upon the financial strength of the investee. If the Company determines the carrying value is not recoverable, an impairment charge is recorded for the difference between the fair value of the investment and the carrying value. | ||||
Self-Insured Risks. A. H. Belo self-insures certain risks for employee medical costs, workers’ compensation, general liability and commercial automotive claims and records a liability for such risks. The Company purchases stop-loss insurance and/or high deductible policies with third-party insurance carriers to limit these risks, and third-party administrators are used to process claims. Each period, the Company estimates, utilizing third party experts, the undiscounted liability associated with its uninsured risks based on historical claim patterns, employee demographic data, assets insured and insurance policy. The estimates associated with these uninsured liabilities are monitored by A. H. Belo’s management for adequacy based on information currently available. However, actual amounts could vary significantly from such estimates if actual trends, including the severity or frequency of claims and/or medical cost inflation, were to change. | ||||
Pension and Other Retirement Obligations. The Company follows accounting guidance for single employer defined benefit plans. Plan assets and the projected benefit obligation are measured each December 31, and the Company records as an asset or liability the net funded position of the plans. Certain changes in actuarial valuations related to returns on plan assets and projected benefit obligations are recorded to other comprehensive income (loss) and are amortized to net periodic pension expense over the weighted average remaining life of plan participants, to the extent the cumulative balance in accumulated other comprehensive income (loss) exceeds 10 percent of the greater of the respective plan’s (a) projected benefit obligation or (b) the market-related value of the plan’s assets. Net periodic pension expense is recognized each period by accruing interest expense on the projected benefit obligation and accruing a return on assets associated with the plan assets. Participation in and accrual of new benefits to participants has been frozen since 2007 and, accordingly, on-going service costs are not a component of net periodic pension expense. From time to time, the Company-sponsored plans may settle pension obligations with certain plan participants through the plans’ master trust as part of its de-risking strategies. The gains or losses associated with settlements of plan obligations to participants are recognized to earnings if such settlements exceed the interest component of net periodic pension cost for the year. Otherwise, such amounts are included in actuarial gains (losses) in accumulated other comprehensive income (loss). | ||||
The A. H. Belo Savings Plan is the Company's defined contribution plan. As a result of fulfilling its obligations to the A.H. Belo Pension Transition Supplement Plan and in order to achieve efficient administration of the Company’s defined contribution plans, the A. H. Belo Pension Transition Supplement Plan was merged into the A.H. Belo Savings Plan in 2013 and ceased to exist as a stand-alone benefit plan of the Company. Contributions by the Company to its defined contribution plan are subject to change at management's discretion. The Company recognizes expense for contributions to the plan based on current commitments made by management to plan participants. | ||||
Contingencies. A. H. Belo is involved in certain claims and litigation related to its operations. The Company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of reserves required, if any, for these contingencies is made after careful analysis of each individual matter. The required reserves may change in the future due to new developments in each matter or changes in approach, such as a change in settlement strategy in dealing with these matters. | ||||
Share-Based Compensation. The Company recognizes the granting of share-based awards at fair value in the financial statements. The fair value of option awards is estimated at the date of grant using the Black-Scholes-Merton pricing model and the fair value of restricted stock unit awards (“RSU”) is the closing price of the Company’s common stock on the date of grant. Total compensation cost is amortized to earnings over the requisite service period. Vested RSUs are redeemed 60 percent in A. H. Belo Series A common stock and 40 percent in cash over a period of three years. The Company records a liability for the portion of the outstanding RSUs to be redeemed in cash, which is adjusted to its fair value each period, based on the closing price of the Company’s common stock. | ||||
Shareholders’ Equity. The Company authorized the issuance of shares of Series A and Series B common stock. Series A common stock has one vote per share and Series B common stock has 10 votes per share. Shares of Series B common stock are convertible at any time on a share-for-share basis into shares of Series A common stock, but not vice versa. | ||||
The Company is authorized to grant stock option and restricted stock unit awards to employees and directors of the Company. Upon vesting of restricted stock units, shares of Series A common stock are issued. Upon the exercise of stock options, Series A common stock is issued if the holder of the stock options executes a simultaneous exercise and sale. If the holder of the stock option chooses not to sell the shares, Series B common stock is issued. | ||||
In 2012, the Company’s board of directors authorized the purchase of the Company’s Series A or Series B common stock, for use other than retirement, through open market purchases, privately negotiated transactions or otherwise. Treasury stock is recorded at cost, reducing shareholders’ equity. Treasury stock purchased privately through negotiated transactions at other than market prices shall be recorded at cost and the price paid in excess of the market cost shall be accounted for according to its substance. When treasury shares are subsequently sold or reissued, the cost of the treasury shares is reversed and the realized gain or loss on sale or reissue, net of any directly attributable incremental transaction costs and related tax, is recognized as a change in additional paid in capital. | ||||
Accumulated other comprehensive income (loss) consists of actuarial gains and losses associated with the A. H. Belo Pension Plans and prior service costs and deferral of gains resulting from negative plan amendments related to other post-employment benefit plans. The cumulative balances are amortized to earnings over the weighted average remaining life expectancy of the participants to the extent such balances exceed 10 percent of the greater of the respective plan’s (a) projected benefit obligation or (b) the market-related value of the plan’s assets. The Company discloses amounts reclassified from accumulated other comprehensive income (loss) to net income in Note 9 – Accumulated Other Comprehensive Loss. | ||||
Revenue Recognition. The Company’s principal sources of revenue is the advertising space in published issues of its newspapers and on the Company’s websites, the sale of newspapers to distributors and individual subscribers, as well as amounts charged to customers for commercial printing, distribution and direct mail. Advertising revenue is recorded net of agency commission at the time the advertisements are published in the newspaper and ratably over the period of time the advertisement is placed on the websites. Marketing services revenue is recognized at the time the services are rendered. Proceeds from subscriptions are deferred and included in revenue ratably over the term of the subscriptions. Subscription revenue under buy-sell arrangements with distributors is recorded based on the net amount received from the distributor, whereas subscription revenue under fee-based delivery arrangements with distributors is recorded based on the amount received from the subscriber. Commercial printing and direct mail revenue is recorded when the product is distributed or shipped. | ||||
The FASB recently issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This guidance generally clarified the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The update is effective for fiscal years and interim periods beginning after December 15, 2016, and interim periods in those years. The Company is currently evaluating the impact this update will have on its recognition and presentation of revenues within the consolidated statements of operations. | ||||
Income Taxes. The Company uses the asset and liability method of accounting for income taxes and recognizes deferred tax assets and liabilities based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates. The Company establishes a valuation allowance if it is more likely than not that the deferred tax assets will not be realized. The factors used to assess the likelihood of realization of the deferred tax asset include reversal of future deferred tax liabilities, available tax planning strategies and future taxable income. | ||||
The Company also evaluates any uncertain tax positions each reporting period by tax jurisdiction to determine if it is more likely than not that the tax position will not be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements for such positions are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. If a net operating loss or other tax credit carryforward exists, the Company records the unrecognized tax benefits for such tax positions as a reduction to a deferred tax asset. Otherwise, the unrecognized tax benefits are recorded as a liability. The Company records a liability for uncertain tax positions taken or expected to be taken in a tax return. Any change in judgment related to the expected ultimate resolution of uncertain tax positions is recognized in earnings in the period in which such change occurs. Interest and penalties, if any, related to unrecognized tax benefits are recorded in interest expense. | ||||
Use of Estimates. Company management makes estimates and assumptions that affect the amounts and disclosures reported in its financial statements and include valuation allowances for doubtful accounts, uncertain tax positions and deferred tax assets, fair value measurements related to assets held for sale, pension plan assets and equity based compensation, actuarial liabilities related to self-insured risks, pension plan obligations and assumptions related to impairment and recovery of goodwill and long lived assets. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results may differ from these estimates. | ||||
Segments. The Company’s operating segments are defined by the operating activities which leverage the customer base, content and other assets of its newspapers. As of December 31, 2014, the Company operates as one segment. | ||||
Fair Value Measurements. The Company’s financial instruments, including cash, cash equivalents, accounts receivable, interest receivable, accounts payable and amounts due to customers are carried at cost, which approximates its fair value because of the short-term nature of these instruments. | ||||
Other New Accounting Pronouncements. The FASB recently issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). This standard provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company does not anticipate the adoption of this standard to have a material impact on the presentation of the consolidated financial statements or footnotes. |
Discontinued_Operations_and_Sa
Discontinued Operations and Sales of Assets | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||||
Disposal Groups, Including Discontinued Operations, Disclosure | Discontinued Operations. On September 3, 2014, The Providence Journal Company, a wholly-owned subsidiary of the Company, completed a transaction for the (i) sale of substantially all of the assets comprising the newspaper operations of The Providence Journal and related real property located in Providence, Rhode Island, and (ii) assumption of certain liabilities by LMG Rhode Island Holdings, Inc. (“LMG”), a subsidiary of New Media Investment Group Inc. The purchase price consisted of $46,000 plus a working capital adjustment of $2,654. Closing costs of $110 and estimated selling and exit costs of $3,237 were recognized, and a pretax gain on the sale of $17,104 was recorded in 2014. | |||||||||
In July 2013, the Company completed the sale of the headquarters building and certain press equipment used by The Press-Enterprise in its operations. Total proceeds of $29,093 were received, after selling costs of $1,457. The Company recorded a pretax gain of $4,746 related to these transactions in the third quarter of 2013. On November 21, 2013, the Company completed the sale of the newspaper operations of The Press-Enterprise, including the production facility and related land, to Freedom Communications, Inc. (“Freedom Communications”) under a definitive asset purchase agreement, resulting in sales proceeds of $27,828. A gain of $8,656 was recorded in the fourth quarter of 2013, which was decreased by $47 in 2014. | ||||||||||
Upon completion of these divestitures, the Company no longer owns newspaper operations in Providence, Rhode Island or Riverside, California. The Company continues to hold and market for sale certain land and buildings in Providence, Rhode Island, including the administrative headquarters of The Providence Journal. The Company also retains the obligation for the A. H. Belo Pension Plan II, which provides benefits to employees of The Providence Journal Company. | ||||||||||
As a result of the above transactions, the activity and balances of The Providence Journal and The Press-Enterprise are presented as discontinued operations. Major components of these amounts presented as discontinued operations in the consolidated financial statements are set forth below. | ||||||||||
Years Ended December 31, | ||||||||||
2014 | 2013 | 2012 | ||||||||
Income (loss) from discontinued operations | ||||||||||
The Providence Journal | ||||||||||
Revenue | $ | 58,591 | 90,068 | 93,766 | ||||||
Costs and expense | (54,527 | ) | (84,703 | ) | (90,489 | ) | ||||
4,064 | 5,365 | 3,277 | ||||||||
The Press-Enterprise | ||||||||||
Revenue | — | 46,648 | 65,356 | |||||||
Costs and expense | — | (51,348 | ) | (73,382 | ) | |||||
— | (4,700 | ) | (8,026 | ) | ||||||
Income (loss) from discontinued operations | 4,064 | 665 | (4,749 | ) | ||||||
Gain related to the divestiture of discontinued operations, net | ||||||||||
Gain on sale of The Providence Journal | 17,104 | — | — | |||||||
Gain on sale of The Press-Enterprise | (47 | ) | 8,656 | — | ||||||
Gain on sale of The Press-Enterprise office building and press equipment | — | 4,746 | — | |||||||
17,057 | 13,402 | — | ||||||||
Tax expense (benefit) from discontinued operations | ||||||||||
The Providence Journal | 14,351 | 124 | 11 | |||||||
The Press-Enterprise | — | (67 | ) | (72 | ) | |||||
14,351 | 57 | (61 | ) | |||||||
Gain (loss) from discontinued operations | 6,770 | 14,010 | (4,688 | ) | ||||||
December 31, | December 31, | |||||||||
2014 | 2013 | |||||||||
Assets of discontinued operations | ||||||||||
The Providence Journal | ||||||||||
Current assets | $ | 312 | $ | 13,343 | ||||||
State income tax receivable | 253 | — | ||||||||
Property, plant and equipment, net | — | 22,249 | ||||||||
Other assets | — | 5,491 | ||||||||
Total | 565 | 41,083 | ||||||||
The Press-Enterprise | ||||||||||
Current assets | — | 1,633 | ||||||||
Total | — | 1,633 | ||||||||
Total assets of discontinued operations | $ | 565 | $ | 42,716 | ||||||
Liabilities of discontinued operations | ||||||||||
The Providence Journal | ||||||||||
Accrued expenses | $ | 543 | $ | 5,168 | ||||||
Deferred revenue | — | 4,342 | ||||||||
Total | 543 | 9,510 | ||||||||
The Press-Enterprise | ||||||||||
Accrued expenses | — | 2,028 | ||||||||
Total | — | 2,028 | ||||||||
Total liabilities of discontinued operations | $ | 543 | $ | 11,538 | ||||||
Other Dispositions. In 2014, the Company completed the sales of various parcels of property, including land and buildings, to third-party buyers. In the fourth quarter of 2014, the Company sold the land and building formerly used as a commercial packaging operation in southern Dallas, generating sales proceeds of $6,677 and a gain of $1,827. During the third quarter of 2014, the Company received sales proceeds totaling $3,408 for the sales of land and buildings in Riverside, California and 97 acres of undeveloped land in southern Dallas, Texas, resulting in gains totaling $862. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
Goodwill and Intangible Assets | The Company recorded goodwill and intangible assets from its previous acquisitions. At December 31, 2014 and 2013, the carrying value of goodwill was $24,582. | |||||||
As of December 31, 2014, the Company operated as a single reporting unit and performed its annual impairment testing under which a qualitative assessment was performed to determine whether it was more likely than not that the fair value of the reporting unit was less than its carrying value. The qualitative factors considered included the market capitalization of the Company, industry trends, management’s plan for existing assets and other factors that could have an economic impact on the reporting unit. If this assessment suggested the fair value of the reporting unit was less than its carrying value, the Company would then use a discounted cash flow model to estimate the fair value of the reporting unit, giving consideration to factors such as pricing of recent mergers and acquisitions, earnings multiples among industry peers and recent performance of the Company’s stock. | ||||||||
Upon completion of the qualitative assessment, the Company believes the market capitalization and the liquidity of the Company suggest the fair value of its reporting unit exceeded its carrying value by a margin in excess of 75 percent as of December 31, 2014, and no further impairment analysis was considered necessary. | ||||||||
The carrying value of customer relationships amortized over an estimated useful life of three years, is set forth in the table below. | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Gross intangible assets | $ | 975 | $ | 362 | ||||
Accumulated amortization | (319 | ) | (121 | ) | ||||
Net balance | $ | 656 | $ | 241 | ||||
Amortization expense for intangible assets for 2014 and 2013 was $198 and $121, respectively. Amortization expense is expected to be $328, $207 and $121 for 2015, 2016 and 2017, respectively, at which time the intangibles will be fully amortized. |
Investments
Investments | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Investments [Abstract] | ||||||||
Investments | The Company owns investment interests in various entities which are recorded under the equity method or cost method of accounting, or consolidated if the Company holds a controlling financial interest. Under the equity method, the Company records its share of the investee’s earnings or losses each period as a component of other income, net, in the consolidated statements of operations. Under the cost method, the Company records earnings or losses when such amounts are realized. The Company evaluates the recoverability of its investments each period and estimates the fair value of its investments if identified events or circumstances indicate a significant adverse effect on the carrying value. Net gains on equity method investments were $93,898, $2,269 and $2,399 for the years ended December 31, 2014, 2013 and 2012, respectively. The table below sets forth the Company’s investments. | |||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Equity method investments | $ | 1,640 | $ | 6,401 | ||||
Cost method investments | 932 | 932 | ||||||
Total investments | $ | 2,572 | $ | 7,333 | ||||
Equity method investments. Investments recorded under the equity method of accounting include the following: | ||||||||
Classified Ventures, LLC (“Classified Ventures”) – The Company owned a 3.3 percent interest in Classified Ventures through its sale date on October 1, 2014. The principal business of Classified Ventures is the operation of cars.com. On April 1, 2014, Classified Ventures sold its apartments.com business unit for $585,000. Distribution proceeds of $18,861 were received and a gain of $18,479 was recorded related to the sale. On October 1, 2014, the Company completed a transaction with Gannett Co. Inc. and other unit holders of Classified Ventures whereby Gannett acquired all membership interests from the unit holders for Classified Ventures’ remaining business which primarily consists of cars.com. Pre-tax cash proceeds of $77,661. were received, net of selling costs, and escrow proceeds of $3,280 will be received within one year. A gain of $77,092 was recorded related to the transaction. The Company entered into a new, five-year affiliate agreement with Classified Ventures that will allow The Dallas Morning News to continue to resell cars.com products and services exclusively in its local market. The affiliate agreement increases the wholesale rate that the Company will pay to Classified Ventures for selling cars.com products. The Company received dividends of $765, $2,952 and $2,427 from Classified Ventures in 2014, 2013 and 2012, respectively. Other income of $3,540 was recorded for the receipt of an economic parity payment from the former parent company in conjunction with the dissolution of the jointly-owned partnership holding the Company’s investment in Classified Ventures. | ||||||||
Wanderful Media, LLC (“Wanderful”) – The Company owns a 13.0 percent interest in Wanderful, which operates FindnSave.com, a digital shopping platform where consumers can find national and local retail goods and services for sale. This platform combines local media participation with advanced search and database technology to allow consumers to view local advertised offers and online sales circulars or search for an item and receive a list of local advertisers and the price and terms offered for the searched item. It also provides key logistics technology and incentives to drive consumers to retailer locations. | ||||||||
In 2014, the Company determined that an other-than-temporary decline occurred in the value of its investment in Wanderful Media after evaluating the estimated fair value of the investee as determined by an independent valuation specialist, which resulted in an impairment charge of $1,871. The Company attributes the impairment primarily to a decline in business related to Wanderful Media’s legacy products. An additional contribution of $1,909 was made in 2014 to provide capital for development of new product offerings as Wanderful Media establishes its market presence. | ||||||||
The Company included the consolidated financial statements for Classified Ventures as of December 31, 2014, 2013 and 2012, and Wanderful Media as of December 31, 2014, as exhibits to the Company’s 2014 Annual Report on Form 10-K, as each represented a significant subsidiary as defined by Securities and Exchange Commission regulations for the respective periods. | ||||||||
Consolidated investments. The Company owns a 70.0 percent interest in Your Speakeasy, LLC (“Speakeasy”), which targets middle-market business customers and provides turnkey social media account management and content development services. The Company owns a 51.0 percent interest in Untapped Festivals, LLC (“Untapped”), which hosts festivals providing food, craft beer and entertainment across events across major Texas cities. |
Longterm_Incentive_Plans
Long-term Incentive Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Share-Based Compensation | A. H. Belo sponsors a long-term incentive plan under which 8,000,000 common shares were authorized for equity based awards. Awards may be granted to A. H. Belo employees and outside directors in the form of non-qualified stock options, incentive stock options, restricted shares, RSUs, performance shares, performance units or stock appreciation rights. In addition, stock options may be accompanied by full and limited stock appreciation rights. Rights and limited stock appreciation rights may also be issued without accompanying stock options. Awards under the plan were also granted to holders of stock options issued by the former parent company in connection with the Company’s separation from the former parent. The Company recognizes compensation expense for any awards related to its respective employees, regardless of which company ultimately issued the awards. | ||||||||||||||||
Stock Options. The non-qualified stock options granted to employees under the Company’s long-term incentive plans are exercisable in cumulative installments over periods of one to three years and expire after 10 years. No options have been granted granted since 2009. The grant date fair value of outstanding stock option awards was estimated using the Black-Scholes-Merton valuation. Volatility was calculated using an analysis of historical stock prices. The expected lives of stock options were determined based on the Company’s employees’ historical stock option exercise experience, which the Company believed to be the best estimate of future exercise patterns available. The risk-free interest rates were determined using the implied yield currently available for zero-coupon United States Government debt securities with a remaining term equal to the expected life of the stock options. The expected dividend yields were based on the approved annual dividend rate in effect and current market price of the underlying common stock at the time of grant. The exercise price of stock options granted under the A. H. Belo long-term incentive plan equals the closing stock price on the day of grant. Accordingly, no intrinsic value exists on the option on the grant date. | |||||||||||||||||
The table below sets forth a summary of stock option activity under the A. H. Belo long-term incentive plan. | |||||||||||||||||
Number of | Weighted-Average | ||||||||||||||||
Options | Exercise Price | ||||||||||||||||
Outstanding at December 31, 2011 | 1,696,690 | $ | 16.99 | ||||||||||||||
Exercised | (153,326 | ) | 1.97 | ||||||||||||||
Canceled | (327,684 | ) | 20.64 | ||||||||||||||
Outstanding at December 31, 2012 | 1,215,680 | 17.9 | |||||||||||||||
Exercised | (18,820 | ) | 3.7 | ||||||||||||||
Canceled | (286,327 | ) | 27.13 | ||||||||||||||
Outstanding at December 31, 2013 | 910,533 | 15.29 | |||||||||||||||
Exercised | (190,462 | ) | 4.94 | ||||||||||||||
Canceled | (287,348 | ) | 25.37 | ||||||||||||||
Outstanding at December 31, 2014 | 432,723 | $ | 13.15 | ||||||||||||||
The table below summarizes vested and exercisable A. H. Belo stock options outstanding as of December 31, 2014. | |||||||||||||||||
Range of Exercise Prices | Number of | Weighted-Average | Weighted-Average | ||||||||||||||
Options | Remaining | Exercise | |||||||||||||||
Outstanding | Life (years) | Price | |||||||||||||||
$0.00 | - | $9.99 | 204,270 | 3.8 | $ | 4.29 | |||||||||||
$10.00 | - | $19.99 | 58,832 | 1.7 | 18.3 | ||||||||||||
$20.00 | - | $29.99 | 169,621 | 0.9 | 22.04 | ||||||||||||
432,723 | 2.4 | $ | 13.15 | ||||||||||||||
The intrinsic value of options exercised in 2014, 2013, and 2012 was $1,099, $91 and $395, respectively, and the intrinsic value of outstanding options at December 31, 2014 was $1,245. As of December 31, 2014, the Company’s employees and non-employee directors held 315,322 A. H. Belo stock options and the remaining 117,401 stock options are held by former parent company employees. | |||||||||||||||||
Restricted Stock Units. Under A. H. Belo’s long-term incentive plan, the Company’s board of directors periodically awards RSUs. The RSUs have service and/or performance conditions and vest over a period of up to three years. Vested RSUs are redeemed 60 percent in A. H. Belo Series A common stock and 40 percent in cash over a period of three years. As of December 31, 2014, the liability for the portion of the award to be redeemed in cash was $1,766. The table below sets forth a summary of RSU activity under the A. H. Belo long-term incentive plan. | |||||||||||||||||
Total | Issuance of | RSUs | Cash | Weighted- | |||||||||||||
RSUs | Common | Redeemed in | Payments at | Average Price | |||||||||||||
Stock | Cash | Closing Price | on Date of | ||||||||||||||
of Stock | Grant | ||||||||||||||||
Non-vested at December 31, 2011 | 1,002,230 | $ | 6.01 | ||||||||||||||
Granted | 375,686 | 4.82 | |||||||||||||||
Vested | (533,043 | ) | 319,807 | 213,236 | $ | 1,025 | 5.22 | ||||||||||
Canceled | (33,255 | ) | 6.13 | ||||||||||||||
Non-vested at December 31, 2012 | 811,618 | 5.97 | |||||||||||||||
Granted | 344,811 | 5.51 | |||||||||||||||
Vested | (427,611 | ) | 256,548 | 171,063 | $ | 939 | 5.49 | ||||||||||
Non-vested at December 31, 2013 | 728,818 | 5.59 | |||||||||||||||
Granted | 123,232 | 11.85 | |||||||||||||||
Vested | (350,892 | ) | 210,522 | 140,370 | $ | 1,489 | 6.05 | ||||||||||
Non-vested at December 31, 2014 | 501,158 | $ | 6.81 | ||||||||||||||
The fair value of the RSUs granted is determined using the closing trading price of the Company’s shares on the grant date. As of December 31, 2014, the Company had $234 of total unrecognized compensation cost related to non-vested RSUs, which is expected to be recognized over a weighted-average period of 0.7 years. | |||||||||||||||||
Compensation Expense. A. H. Belo recognizes compensation expense for any awards issued to its employees and directors under its long-term incentive plan. Compensation expense related to Company issued stock awards is set forth in the table below. | |||||||||||||||||
RSUs Redeemable in Stock | RSUs Redeemable in Cash | Total RSU Awards Expense | |||||||||||||||
2014 | $ | 702 | $ | 1,117 | $ | 1,819 | |||||||||||
2013 | 1,059 | 1,330 | 2,389 | ||||||||||||||
2012 | 1,095 | 830 | 1,925 | ||||||||||||||
Longterm_Debt
Long-term Debt | 12 Months Ended |
Dec. 31, 2014 | |
Debt Disclosure [Abstract] | |
Long-term Debt | In January 2013, the Company voluntarily terminated its credit agreement as cash flows from operations were sufficient to meet liquidity requirements and the credit agreement had not been drawn upon since 2009. All liens and security interests under the credit agreement were released and no early termination penalties were incurred by the Company as a result of the termination. Unamortized debt issuance costs of $401 were recorded to interest expense in 2013 as a result of the termination. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | The table below sets forth the income tax provision related to continuing operations. | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Current | ||||||||||||
Federal | $ | 3,865 | $ | — | $ | — | ||||||
State | 1,333 | 1,704 | 1,524 | |||||||||
Total current | 5,198 | 1,704 | 1,524 | |||||||||
Deferred | ||||||||||||
Federal | 28,577 | 2,317 | 1,811 | |||||||||
State | 646 | (394 | ) | 182 | ||||||||
Total deferred | 29,223 | 1,923 | 1,993 | |||||||||
Valuation allowance | (28,443 | ) | (2,167 | ) | (1,724 | ) | ||||||
Total income tax provision | $ | 5,978 | $ | 1,460 | $ | 1,793 | ||||||
The table below reconciles the income tax provision for continuing operations computed by applying the applicable United States federal income tax rate to the tax provision computed at the effective income tax rate. | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Computed expected income tax provision | $ | 32,195 | $ | 1,182 | $ | 2,415 | ||||||
State income tax (net of federal benefit) | 1,314 | 852 | 1,297 | |||||||||
Valuation allowance | (28,443 | ) | (2,167 | ) | (1,724 | ) | ||||||
Equity compensation | — | 1,582 | — | |||||||||
Recognition of equity windfall | — | (563 | ) | — | ||||||||
Other | 912 | 574 | (195 | ) | ||||||||
Income tax provision | $ | 5,978 | $ | 1,460 | $ | 1,793 | ||||||
Effective income tax rate | 6.5 | % | 43.2 | % | 26 | % | ||||||
As a result of the sale of The Providence Journal and the investment in Classified Ventures, the Company generated taxable income. Accordingly, the tax provision was reduced for changes in the valuation allowance, primary resulting from the use of $19,567 of net operating loss carryforwards. As of December 31, 2014, the Company had no cumulative federal or state net operating loss assets. In 2013, tax provision increased due to canceled equity compensation awards that could not be recognized in additional paid in capital. | ||||||||||||
The table below sets forth the significant components of the Company’s deferred tax liabilities and assets. | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Deferred compensation and benefits | $ | 1,671 | $ | 2,923 | ||||||||
Expenses deductible for tax purposes in a year different from the year accrued | 1,221 | 2,612 | ||||||||||
Tax depreciation less than book depreciation | 3,541 | 6,964 | ||||||||||
Defined benefit plans | 22,952 | 18,071 | ||||||||||
Net operating loss | — | 19,853 | ||||||||||
Investments | 2,317 | 420 | ||||||||||
Other | 370 | 1,013 | ||||||||||
Total deferred tax assets | 32,072 | 51,856 | ||||||||||
Valuation allowance for deferred tax assets | (31,498 | ) | (46,189 | ) | ||||||||
Deferred tax assets, net | 574 | 5,667 | ||||||||||
Deferred tax liabilities | ||||||||||||
Tax amortization in excess of book amortization | 935 | 1,769 | ||||||||||
State taxes | 169 | 3,299 | ||||||||||
Total deferred tax liabilities | 1,104 | 5,068 | ||||||||||
Net deferred tax (liabilities) assets | $ | (530 | ) | $ | 599 | |||||||
Deferred taxes are classified as current and long-term deferred assets or liabilities based on the classification of the related assets or liabilities in the Company’s consolidated balance sheets as of December 31, 2014 and 2013. Deferred tax assets related to net losses recorded in accumulated other comprehensive loss as of December 31, 2014 and 2013, respectively, are fully reserved and there is no net effect to tax provision for 2014, 2013 or 2012. The Company places a threshold for recognition of deferred tax assets based on whether it is more likely than not that these assets will be realized. In making this determination, all positive and negative evidence is considered, including future reversals of existing taxable temporary differences, tax planning strategies, future taxable income and taxable income in prior carryback years. | ||||||||||||
In accordance with realization requirements of ASC 718 – Stock Compensation, certain 2011 and 2012 tax deductions totaling $104, related to equity compensation in excess of recognized compensation expense, had not been recognized and were not included in the 2013 deferred tax assets because of available net operating loss assets. In the fourth quarter 2014, these prior year deductions and 2014 tax deductions of $829 were recognized, resulting in an increase to additional paid in capital. | ||||||||||||
During 2013, the Company effectively completed the U.S. federal audit for tax years 2008 and 2009. The audit resulted in a 2013 refund of $1,334 due to the carryback of taxable losses to a prior tax return of the former parent company. The Company is not currently under examination by federal or state jurisdictions for income tax purposes. Additionally, the Company made income tax payments, net of refunds, of $8,759 and $1,432 in 2014 and 2013, respectively. The increase in 2014 taxes paid primarily reflects federal income tax. | ||||||||||||
The Company follows accounting guidance under ASC 740-10 – Income Taxes related to uncertainty in income tax positions, which clarifies the accounting and disclosure requirements for uncertainty in tax positions. The Company assessed its filing positions in all significant jurisdictions where it is required to file income tax returns for all open tax years. Tax returns filed in major jurisdictions, as defined, include the U. S. federal income tax return and state income tax returns in three states. The Company’s federal income tax returns for the years subsequent to December 31, 2009, remain subject to examination. The Company’s income tax returns in major state income tax jurisdictions where the Company operates remain subject to examination for various periods subsequent to December 31, 2007. | ||||||||||||
The Company evaluates uncertain tax positions and recognizes a liability for the tax benefit associated with an uncertain position only if it is more likely than not the position will not be sustained on examination by taxing authorities, based on the technical merits of the position. In 2010, the Company identified a tax benefit that did not meet the more likely than not criteria as stipulated in the accounting guidance that the position would be sustainable. As a result, the Company recorded a reserve for this item in other liabilities at December 31, 2011, for the portion of the tax benefit that was not greater than 50 percent likely to be realized upon settlement with a taxing authority. In 2013, federal regulations were further clarified. As a result, the Company filed certain accounting method changes to comply with the newly issued regulations. As such, the Company reversed the unrecognized tax benefit in 2013. The Company has concluded there are no uncertain tax positions as of December 31, 2014 and 2013. The table below sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefit. | ||||||||||||
2014 | 2013 | |||||||||||
Balance at January 1 | $ | — | $ | 324 | ||||||||
Reductions for tax positions of prior years | — | (324 | ) | |||||||||
Balance at December 31 | $ | — | $ | — | ||||||||
Pension_and_Other_Retirement_P
Pension and Other Retirement Plans | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Pension and Other Retirement Plans | Defined Benefit Plans. The Company sponsors the A. H. Belo Pension Plans, which provide benefits to approximately 4,000 current and former employees of the Company. A. H. Belo Pension Plan I provides benefits to certain employees primarily employed with The Dallas Morning News or the A. H. Belo corporate offices. A. H. Belo Pension Plan II provides benefits to certain employees of The Providence Journal Company, the obligation for which was retained by the Company in the sale transaction of the newspaper operations of The Providence Journal. No additional benefits are accruing under the A. H. Belo Pension Plans, as future benefits were frozen prior to the plans’ effective date. | |||||||||||||||||||||||||||||||
The Company made required contributions of $9,927 and $7,396 in 2014 and 2013, respectively, and voluntary contributions of $20,000 and $4,604 in 2014 and 2013, respectively, to the A. H. Belo Pension Plans, directly reducing the unfunded projected pension obligation of these plans. Actuarial gains (losses) of $(49,243), $57,171 and $(10,613) were recorded to other comprehensive income (loss) in 2014, 2013 and 2012, respectively, see Note 9 – Accumulated Other Comprehensive Loss for information on amounts recorded to accumulated other comprehensive income. | ||||||||||||||||||||||||||||||||
The Company-sponsored plans implemented a de-risking strategy whereby voluntary and mandatory lump sum payments to participants may be made to decrease future benefit obligations. Payments to 721 and 889 participants totaling $52,919 and $10,526 were made in 2014 and 2012, respectively. These liquidations reduced projected benefit obligations by approximately $70,000 and $14,500 in 2014 and 2012, respectively. The obligations were funded through the plans’ master trust account and are a component of benefit payments as shown in the table below. A charge of $7,648 was recorded to pension expense in 2014 related to the amortization of prior period actuarial losses associated with the liquidated obligations. No such charge was recorded in 2012 as the cost of these settlements was less than the interest component of net periodic pension expense. The related cost associated with 2012 settlements was reflected as a component of the actuarial loss and included in accumulated other comprehensive loss. The Company will continue to evaluate the feasibility of additional settlements of participant obligations based on the economic benefits to the Company. | ||||||||||||||||||||||||||||||||
The table below sets forth summarized financial information about the A. H. Belo Pension Plans. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Change in projected benefit obligation | ||||||||||||||||||||||||||||||||
Projected benefit obligation at beginning of year | $ | 388,698 | $ | 441,395 | ||||||||||||||||||||||||||||
Interest cost | 17,320 | 15,995 | ||||||||||||||||||||||||||||||
Actuarial (gain) loss | 63,898 | (48,649 | ) | |||||||||||||||||||||||||||||
Benefit payments | (73,260 | ) | (20,043 | ) | ||||||||||||||||||||||||||||
Projected benefit obligation at end of year | 396,656 | 388,698 | ||||||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 338,616 | 318,574 | ||||||||||||||||||||||||||||||
Return on plan assets | 35,514 | 28,085 | ||||||||||||||||||||||||||||||
Employer contributions | 29,927 | 12,000 | ||||||||||||||||||||||||||||||
Benefit payments | (73,260 | ) | (20,043 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at end of year | 330,797 | 338,616 | ||||||||||||||||||||||||||||||
Funded status | $ | (65,859 | ) | $ | (50,082 | ) | ||||||||||||||||||||||||||
Amounts recorded on the balance sheet | ||||||||||||||||||||||||||||||||
Noncurrent liability - Accrued benefit cost | $ | 65,859 | $ | 50,082 | ||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 396,656 | $ | 388,698 | ||||||||||||||||||||||||||||
Net Periodic Pension Expense | ||||||||||||||||||||||||||||||||
The projected benefit obligations of the A. H. Belo Pension Plans are estimated using the Citigroup Pension Yield Curve, which is based upon a portfolio of high quality corporate debt securities with maturities that correlate to the timing of benefit payments to the plans’ participants. Future benefit payments are discounted to their present value at the appropriate yield curve rate to determine the projected benefit obligation outstanding at each year end. Yield curve discount rates as of December 31, 2014, and 2013, were 3.7 percent and 4.6 percent, respectively. | ||||||||||||||||||||||||||||||||
Interest expense included in net periodic pension expense is based on the Citigroup Pension Yield Curve established at the beginning of the fiscal year. Interest expense for 2014, 2013 and 2012 was determined using beginning of year yield curve rates of 4.6 percent, 3.7 percent and 4.2 percent, respectively. | ||||||||||||||||||||||||||||||||
The Company assumed a 6.5 percent long-term return on the plans’ assets in 2014, 2013 and 2012. This return is based upon historical returns of similar investment pools having asset allocations consistent with the expected allocations of the A. H. Belo Pension Plans. Investment strategies for the plans’ assets are based upon factors such as the remaining useful life expectancy of participants and market risks. The table below sets forth components of net periodic pension expense for 2014, 2013 and 2012. | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest cost | $ | 17,320 | $ | 15,995 | $ | 17,300 | ||||||||||||||||||||||||||
Expected return on plans' assets | (20,859 | ) | (19,563 | ) | (18,400 | ) | ||||||||||||||||||||||||||
Amortization of actuarial loss | — | 1,702 | 700 | |||||||||||||||||||||||||||||
Recognized settlement loss | 7,648 | — | — | |||||||||||||||||||||||||||||
Net periodic pension expense (benefit) | $ | 4,109 | $ | (1,866 | ) | $ | (400 | ) | ||||||||||||||||||||||||
Plan Assets | ||||||||||||||||||||||||||||||||
The Company is responsible for directing the investment strategies of the A. H. Belo Pension Plans’ assets. The investment strategies focus on asset class diversification, liquidity to meet benefit payments and an appropriate balance of long-term investment return and risks. The long-term targeted allocation of the plans’ assets invested in equity securities and fixed-income securities is 50.0 percent and 50.0 percent, respectively. These targets are determined by matching the actuarial projections of the plans’ future liabilities and benefit payments with the expected long-term rates of return on assets and expected market risks. Investment risk is continuously monitored and plan assets are rebalanced to target allocations to meet the Company’s strategy and the plans’ liquidity needs. At December 31, 2014, the plans’ investments in equity securities and fixed income securities accounted for 49.0 percent and 51.0 percent of the total non-cash holdings, respectively. | ||||||||||||||||||||||||||||||||
The table below sets forth the A. H. Belo Pension Plans’ assets at fair value as of December 31, 2014 and 2013, with inputs used to develop fair value measurements. | ||||||||||||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||||||||||||
Total | Quoted Price in | Significant Other | Significant Unobservable Inputs | |||||||||||||||||||||||||||||
Active Markets | Observable Inputs | (Level III) | ||||||||||||||||||||||||||||||
for Identical Assets | (Level II) | |||||||||||||||||||||||||||||||
(Level I) | ||||||||||||||||||||||||||||||||
Description | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Cash and money market funds | $ | 6,485 | $ | 5,389 | $ | 6,485 | $ | 5,389 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Equity Funds | ||||||||||||||||||||||||||||||||
U.S. Equity Securities | 115,253 | 107,281 | — | — | 115,253 | 107,281 | — | — | ||||||||||||||||||||||||
International Equity Securities | 43,675 | 58,690 | 8,071 | 10,633 | 35,604 | 48,057 | — | — | ||||||||||||||||||||||||
Fixed Income Funds | ||||||||||||||||||||||||||||||||
Domestic Corporate and Government Debt Securities | 77,488 | 92,804 | — | — | 77,488 | 92,804 | — | — | ||||||||||||||||||||||||
Domestic Corporate Debt Securities | 80,906 | 67,827 | — | — | 80,906 | 67,827 | — | — | ||||||||||||||||||||||||
International Corporate and Government Debt Securities | 6,990 | 6,625 | — | — | 6,990 | 6,625 | — | — | ||||||||||||||||||||||||
Total | $ | 330,797 | $ | 338,616 | $ | 14,556 | $ | 16,022 | $ | 316,241 | $ | 322,594 | $ | — | $ | — | ||||||||||||||||
Inputs and valuation techniques used to measure the fair value of plan assets vary according to the type of asset being valued. Cash and money market funds, as well as exchange traded funds, are designated as Level I. Remaining equity securities and fixed income securities represent units of commingled pooled funds and fair values are based on net asset value (“NAV”) of the units of the fund determined by the fund manager. Commingled pooled funds are similar in nature to retail mutual funds, but are typically more efficient for institutional investors than retail mutual funds. As commingled pooled funds are typically only accessible by institutional investors, the NAV is not readily observable by non-institutional investors. Equity securities held through units in these funds are monitored as to issuer and industry. As of December 31, 2014, there were no significant concentrations of equity or debt securities in any single issuer or industry. | ||||||||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||||||||
The table below sets forth the Company’s expected future benefit payments as of December 31, 2014. | ||||||||||||||||||||||||||||||||
Payment year | Expected Benefit | |||||||||||||||||||||||||||||||
Payments | ||||||||||||||||||||||||||||||||
2015 | $ | 21,809 | ||||||||||||||||||||||||||||||
2016 | 21,907 | |||||||||||||||||||||||||||||||
2017 | 22,045 | |||||||||||||||||||||||||||||||
2018 | 22,257 | |||||||||||||||||||||||||||||||
2019 | 22,378 | |||||||||||||||||||||||||||||||
2020 – 2024 | 113,675 | |||||||||||||||||||||||||||||||
The Company expects to make no required contributions to the A. H. Belo Pension Plans in 2015. | ||||||||||||||||||||||||||||||||
Other defined benefit plans – A. H. Belo also sponsors post-retirement benefit plans which provide health and life insurance benefits for certain retired employees. These plans were frozen subsequent to the separation from the former parent company and no future benefits accrue. The Company recorded a liability of $1,651 and $1,680 related to these plans as of December 31, 2014 and 2013, respectively. A net benefit of $630, $631 and $602 in 2014, 2013 and 2012, respectively, was recorded to employee compensation and benefits. The net benefit primarily represents amortization of actuarial gains (losses) and prior service costs, offset by interest expense associated with the actuarial liability. Actuarial gains of $15, $287 and $118 were recorded to other comprehensive income (loss) in 2014, 2013 and 2012, respectively. See Note 9 – Accumulated Other Comprehensive Loss for information on balances recorded to accumulated other comprehensive income (loss). | ||||||||||||||||||||||||||||||||
Defined Contribution Plans. The A. H. Belo Savings Plan, a defined contribution 401(k) plan, covers substantially all employees of A. H. Belo. Participants may elect to contribute a portion of their pretax compensation, as provided by the plan and the Internal Revenue Code. Employees can contribute up to 100 percent of their annual eligible compensation (less required withholdings and deductions) up to statutory limits. The Company provides an ongoing dollar-for-dollar match of eligible employee contributions, up to 1.5 percent of the employees’ compensation on a per-pay-period basis. The Company recorded expense of $987, $973 and $919 in 2014, 2013 and 2012, respectively, for matching contributions to these plans. | ||||||||||||||||||||||||||||||||
The Company sponsored the A. H. Belo Pension Transition Supplement Plan (“PTS Plan”), a defined contribution plan, which covered certain employees affected by the curtailment of a defined benefit plan sponsored by the former parent company. The Company was obligated to make contributions to this plan based on the earnings of actively employed participants for a period of five years, which concluded on March 31, 2013. The Company recorded expense for the PTS Plan of $598 and $2,227 in 2013 and 2012, respectively. Contributions, generally paid in the first quarter following each plan year were $2,826 and $2,305 in 2013 and 2012, respectively. As a result of fulfilling its obligations to the PTS Plan and in order to achieve efficient administration of the Company's defined contribution plans, the PTS Plan was merged into the A. H. Belo Savings Plan on July 1, 2013. Accordingly, individual participant account balances within the PTS Plan were transferred to their respective accounts of the A. H. Belo Savings Plan and the PTS Plan has ceased to exist as a stand alone benefit plan of the Company. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||
Shareholders' Equity and Share-based Payments | Accumulated other comprehensive loss contains actuarial gains and losses associated with the A. H. Belo Pension Plans and gains and losses resulting from negative plan amendments and other actuarial experience related to other post-employment benefit plans. The table below sets forth the changes in accumulated other comprehensive loss, net of tax, as presented in the Company’s consolidated financial statements. | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Total | Defined benefit pension plans | Other post-employment benefit plans | Total | Defined benefit pension plans | Other post-employment benefit plans | |||||||||||||||||||
Balance, beginning of period | $ | (15,093 | ) | $ | (16,059 | ) | $ | 966 | $ | (73,532 | ) | $ | (74,932 | ) | $ | 1,400 | ||||||||
Amortization | 6,954 | 7,648 | (694 | ) | 981 | 1,702 | (721 | ) | ||||||||||||||||
Actuarial gains (losses) | (49,228 | ) | (49,243 | ) | 15 | 57,458 | 57,171 | 287 | ||||||||||||||||
Balance, end of period | $ | (57,367 | ) | $ | (57,654 | ) | $ | 287 | $ | (15,093 | ) | $ | (16,059 | ) | $ | 966 | ||||||||
The Company records amortization of accumulated other comprehensive loss in salaries, wages and employee benefits in the consolidated statements of operations. In 2015, the Company anticipates amortizing $1,251 of net losses in accumulated other comprehensive loss related to its defined benefit pension plans and other post-employment benefit plans. Deferred tax assets related to amounts recorded in accumulated other comprehensive loss in 2014 and 2013 are fully reserved. See Note 7 – Income Taxes. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings per Share | The table below sets forth the reconciliations for net income (loss) and weighted average shares used for calculating basic and diluted earnings per share (“EPS”). The Company’s Series A and B common stock equally share in the distributed and undistributed earnings. | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Earnings (numerator) | ||||||||||||
Net income attributable to A. H. Belo Corporation | $ | 92,929 | $ | 16,119 | $ | 526 | ||||||
Less: Income (loss) from discontinued operations, net | 6,770 | 14,010 | (4,688 | ) | ||||||||
Less: Income to participating securities | 2,118 | 535 | 390 | |||||||||
Net income available to common shareholders from continuing operations | $ | 84,041 | $ | 1,574 | $ | 4,824 | ||||||
Shares (denominator) | ||||||||||||
Weighted average common shares outstanding (basic) | 21,899,602 | 21,967,666 | 21,947,981 | |||||||||
Effect of dilutive securities | 106,420 | 96,075 | 117,875 | |||||||||
Adjusted weighted average shares outstanding (diluted) | 22,006,022 | 22,063,741 | 22,065,856 | |||||||||
Earnings per share from continuing operations | ||||||||||||
Basic | $ | 3.84 | $ | 0.07 | $ | 0.22 | ||||||
Diluted | $ | 3.82 | $ | 0.07 | $ | 0.22 | ||||||
Holders of service-based RSUs participate in A. H. Belo dividends on a one-on-one share basis. Distributed and undistributed income associated with participating securities is included in the calculation of EPS under the two-class method as prescribed under ASC 260 – Earnings Per Share. | ||||||||||||
The Company considers outstanding stock options and RSUs in the calculation of its earnings per share. A total of 729,611, 1,474,999 and 1,909,423 options and RSUs outstanding as of December 31, 2014, 2013 and 2012, respectively, were excluded from the calculation because they did not affect the earnings per share for common shareholders or the effect was anti-dilutive. |
Commitments
Commitments | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||
Commitments | As of December 31, 2014, the Company had contractual obligations for leases and capital expenditures that primarily related to newspaper production equipment. The table below sets forth the summarized commitments of the Company as of December 31, 2014. | |||||||||||||||||||||||||||
Total | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||||
Operating lease commitments | $ | 4,601 | $ | 1,224 | $ | 1,129 | $ | 1,038 | $ | 748 | $ | 443 | $ | 19 | ||||||||||||||
Capital commitments | 3,867 | 3,867 | — | — | — | — | — | |||||||||||||||||||||
Total commitments | $ | 8,468 | $ | 5,091 | $ | 1,129 | $ | 1,038 | $ | 748 | $ | 443 | $ | 19 | ||||||||||||||
Total lease expense for property and equipment was $1,724, $1,813 and $1,883 in 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
The Company funds the A. H. Belo Pension Plans to meet or exceed statutory requirements and currently expects to make no required contributions to these plans in 2015. See Note 8 – Pension and Other Retirement Plans for discussion of pension funding relief. | ||||||||||||||||||||||||||||
On December 11, 2014, the Company announced a $2.25 per share dividend to shareholders of record and holders of RSUs as of the close of business on December 30, 2014, totaling $50,148, which was paid on January 14, 2015. Also on December 11, 2014, the Company announced an $0.08 per share dividend to shareholders of record and holders of RSUs as of the close of business on February 13, 2015, which will be paid on March 6, 2015. | ||||||||||||||||||||||||||||
A number of legal proceedings are pending against A. H. Belo. In the opinion of management, liabilities, if any, arising from these legal proceedings would not have a material adverse effect on A. H. Belo’s results of operations, liquidity or financial condition. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2014 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | In connection with the Company’s separation from its former parent, the Company entered into various agreements under which the Company and Belo Corp. (“Belo”), its former parent company, furnished services to each other through 2013. During 2013 and 2012, Belo provided $853 and $1,399, respectively, in legal, payroll and accounts payable services to the Company. The Company was also able to carryback taxable losses against Belo’s taxable income from prior years, as described in Note 7 – Income Taxes. |
SUPPLEMENTAL_CASH_FLOW_DATA_Su
SUPPLEMENTAL CASH FLOW DATA Supplemental Cash Flow Data (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | The table below sets forth supplemental disclosures related to the Company’s Consolidated Statements of Cash Flows. | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income tax paid, net of refunds | $ | 8,759 | $ | 1,432 | $ | 1,489 | ||||||
Noncash investing and financing activities: | ||||||||||||
Dividends payable at year-end | $ | 50,148 | $ | — | $ | — | ||||||
Receivable for investment sales proceeds | $ | 3,280 | $ | — | $ | — | ||||||
Impairment of equity method investment | $ | 1,871 | $ | — | $ | — | ||||||
Noncash contributions by noncontrolling interests | $ | 183 | $ | 87 | $ | 35 | ||||||
SUBSEQUENT_EVENTS_Notes
SUBSEQUENT EVENTS (Notes) | 12 Months Ended |
Dec. 31, 2014 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | On January 5, 2015, the Company acquired an 80 percent voting interest in Distribion, Inc., Vertical Nerve, Inc. and CDFX, LLC for $14,120. The three companies, located in Dallas, Texas, specialize in local marketing automation, search engine marketing, direct mail and promotional products. A. H. Belo's acquisition of the three companies represents another step in its ongoing strategy to diversify the Company's revenue sources and provide an opportunity for existing and future advertising clients to take advantage of data driven marketing automation technology and services. |
Costs related to the transaction are estimated to be $1,300, of which $527 were incurred in 2014 and were recorded in other production, distribution and operating costs. The Company expects to finalize its allocation of the purchase price by the end of the second quarter of 2014. |
Quarterly_Results_of_Operation
Quarterly Results of Operations (Unaudited) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Quarterly Financial Information | The table below sets forth a summary of the unaudited consolidated quarterly results of operations for 2014 and 2013. | |||||||||||||||||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Continuing Operations: | ||||||||||||||||||||||||||||||||
Net Operating Revenue | $ | 64,392 | $ | 66,106 | $ | 69,261 | $ | 69,123 | $ | 65,923 | $ | 67,473 | $ | 73,212 | $ | 73,481 | ||||||||||||||||
Operating Income (Loss) | (3,644 | ) | (4,854 | ) | 2,407 | 1,399 | 500 | (168 | ) | (6,949 | ) | 4,845 | ||||||||||||||||||||
Income (Loss) from Continuing Operations | (4,826 | ) | (5,309 | ) | 19,687 | 1,505 | 2,269 | 431 | 68,877 | 5,289 | ||||||||||||||||||||||
Income (Loss) from Discontinued Operations, Net | 783 | (2,767 | ) | 2,269 | (389 | ) | 16,125 | 4,838 | (12,407 | ) | 12,328 | |||||||||||||||||||||
Net Income (Loss) | (4,043 | ) | (8,076 | ) | 21,956 | 1,116 | 18,394 | 5,269 | 56,470 | 17,617 | ||||||||||||||||||||||
Net Income (Loss) Attributable to A. H. Belo Corporation | (4,037 | ) | (8,022 | ) | 21,980 | 1,181 | 18,444 | 5,321 | 56,542 | 17,639 | ||||||||||||||||||||||
Net Income (Loss) per Share from Continuing Operations (a) | ||||||||||||||||||||||||||||||||
Basic | $ | (0.22 | ) | $ | (0.24 | ) | $ | 0.86 | $ | 0.07 | $ | 0.1 | $ | 0.02 | $ | 3.09 | $ | 0.23 | ||||||||||||||
Diluted | $ | (0.22 | ) | $ | (0.24 | ) | $ | 0.85 | $ | 0.07 | $ | 0.1 | $ | 0.02 | $ | 3.07 | $ | 0.23 | ||||||||||||||
(a) | Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Accounting Policies [Abstract] | ||||
Basis of presentation, Policy | Basis of Presentation. These consolidated financial statements include the accounts of A. H. Belo and its subsidiaries. The Company follows the guidance set by the Financial Accounting Standards Board (“FASB”) or other authoritative accounting standards-setting bodies. Under Accounting Standards Codification (“ASC”) 810 – Consolidation, the Company determines whether subsidiaries, joint ventures, partnerships and other arrangements should be consolidated. Transactions between the consolidated companies are eliminated and noncontrolling interests in less than wholly-owned subsidiaries are reflected in the consolidated financial statements. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. In the opinion of management, all adjustments considered necessary for a fair presentation are included. All dollar amounts are presented in thousands, except per share amounts, unless the context requires otherwise. | |||
Discontinued Operations, Policy | In 2014, the Company completed the sale of substantially all of the assets and certain liabilities which comprise the newspaper operations of The Providence Journal, a daily newspaper in Providence, Rhode Island and the oldest continuously-published daily newspaper in the United States. In 2013, the Company completed the disposition of The Press‑Enterprise, a daily newspaper in Riverside, California, which serves the Inland Southern California region. As described in Note 2 – Discontinued Operations and Sales of Assets, these dispositions meet the criteria of discontinued operations as prescribed under the Accounting Standards Codification 205 - Presentation of Financial Statements. Accordingly, presentation of current and prior period amounts in the consolidated financial statements and notes thereto reflect continuing operations of the Company unless otherwise noted. | |||
Cash and Cash Equivalents, Policy | Cash and Cash Equivalents. The Company considers all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. | |||
Accounts Receivable, Policy | Accounts Receivable. Accounts receivable are net of a valuation reserve that represents an estimate of amounts considered uncollectible. The Company estimates the allowance for doubtful accounts based on historical write-off experience and the Company’s knowledge of the customers’ ability to pay amounts due. The Company’s policy is to write-off accounts after all collection efforts fail; generally, amounts past due by more than one year are written-off. Expense for such uncollectible amounts is included in other production, distribution and operating costs. Bad debt expense for 2014 and 2013 was $2,220 and $2,025, respectively. Write-offs, net of recoveries and other adjustments for 2014 and 2013 were $2,206 and $2,553, respectively. | |||
Risk Concentration, Policy | Risk Concentration. Financial instruments subject to potential concentration of credit risk include cash equivalents and accounts receivable. The Company invests available cash balances in an overnight deposit fund holding commercial paper of a single issuer. The issuer’s commercial paper is graded A1 by Moody’s and overnight holdings in the fund were $147,437 as of December 31, 2014. | |||
A significant portion of the Company’s customer base is concentrated within the North Texas geographical area. The Company generally extends credit to customers, and the ultimate collection of accounts receivable could be affected by the national and local economy. Management continually performs credit evaluations of its customers and may require cash in advance or other special arrangements from certain customers. The Company maintains an allowance for losses based upon the collectibility of accounts receivable. Management does not believe significant credit risk exists that could have a material adverse effect on the Company’s consolidated financial condition, liquidity or results of operations. | ||||
Inventories, Policy | Inventories. Inventories, consisting primarily of newsprint, ink and other supplies used in printing newspapers, are recorded at average cost. The Company reviews its inventories for obsolescence and records an expense for any items that no longer have future value. | |||
Property, Plant and Equipment, Policy | Property, Plant and Equipment. The Company records property, plant and equipment at cost or its fair value if acquired through a business acquisition or non-monetary exchange. Depreciable assets are reviewed to ensure the remaining useful life of the assets continue to be appropriate and the Company records any resulting adjustments to depreciation expense on a prospective basis. Depreciation of property, plant and equipment is recorded on a straight-line basis over the estimated useful lives of the assets as follows: | |||
Estimated | ||||
Useful Lives | ||||
Buildings and improvements | 5 | - | 30 years | |
Newspaper publishing equipment | 3 | - | 20 years | |
Other | 3 | - | 10 years | |
Goodwill, Policy | Goodwill. The Company records goodwill at the reporting unit level based on the excess fair value of prior business acquisitions over the fair value of the assets and liabilities acquired. Reporting units of the Company are based on its internal reporting structure and represent a reporting level below an operating segment. Unless qualitative factors allow the Company to conclude it is more likely than not that the fair value of the reporting unit exceeds its carrying value, the Company tests for goodwill impairment by estimating the fair value of the reporting unit. If the fair value of the reporting unit is less than its carrying value, the Company will determine a fair value for the reporting unit’s underlying assets and liabilities and adjust goodwill accordingly. The Company uses a discounted cash flow model to calculate the fair value of its reporting units. The model includes a number of significant assumptions and estimates regarding future cash flows including discount rates, volumes, prices, capital expenditures and the impact of current market conditions. These estimates could be materially impacted by changes in market conditions. The Company performs the goodwill impairment test as of December 31 each fiscal year or when changes in circumstances indicate an impairment event may have occurred. Impairment charges represent non-cash charges and do not affect the Company’s liquidity, cash flows from operating activities or have any effect on future operations. | |||
Long-Lived Assets, Policy | Long-Lived Assets. The Company evaluates its ability to recover the carrying value of property, plant and equipment and finite-lived intangible assets, using the lowest level of cash flows associated with the assets, which are grouped based on the Company’s intended use of these assets. This evaluation is performed whenever a change in circumstances indicates that the carrying value of the asset groups may not be recoverable from future undiscounted cash flows. If the analysis of future cash flows indicates the carrying value of the long-lived assets cannot be recovered, the assets are adjusted to the lower of its carrying value or fair value. | |||
Investments, Policy | Investments. The Company owns certain equity securities in companies in which it does not exercise control. For those investments where the Company is able to exercise significant influence over the investee as defined under ASC 323 – Equity Method and Joint Ventures, the Company accounts for the investment under the equity method of accounting, recognizing its share of the investee’s income or loss as a component of earnings. All other investments are recorded under the cost method and the Company recognizes income or loss upon the receipt of dividends or distributions, or upon liquidation of the investment. Each reporting period, the Company evaluates its ability to recover the carrying value of both equity and cost method investments based upon the financial strength of the investee. If the Company determines the carrying value is not recoverable, an impairment charge is recorded for the difference between the fair value of the investment and the carrying value. | |||
Self Insured Risks, Policy | Self-Insured Risks. A. H. Belo self-insures certain risks for employee medical costs, workers’ compensation, general liability and commercial automotive claims and records a liability for such risks. The Company purchases stop-loss insurance and/or high deductible policies with third-party insurance carriers to limit these risks, and third-party administrators are used to process claims. Each period, the Company estimates, utilizing third party experts, the undiscounted liability associated with its uninsured risks based on historical claim patterns, employee demographic data, assets insured and insurance policy. The estimates associated with these uninsured liabilities are monitored by A. H. Belo’s management for adequacy based on information currently available. However, actual amounts could vary significantly from such estimates if actual trends, including the severity or frequency of claims and/or medical cost inflation, were to change. | |||
Pension and Other Retirement Obligations, Policy | Pension and Other Retirement Obligations. The Company follows accounting guidance for single employer defined benefit plans. Plan assets and the projected benefit obligation are measured each December 31, and the Company records as an asset or liability the net funded position of the plans. Certain changes in actuarial valuations related to returns on plan assets and projected benefit obligations are recorded to other comprehensive income (loss) and are amortized to net periodic pension expense over the weighted average remaining life of plan participants, to the extent the cumulative balance in accumulated other comprehensive income (loss) exceeds 10 percent of the greater of the respective plan’s (a) projected benefit obligation or (b) the market-related value of the plan’s assets. Net periodic pension expense is recognized each period by accruing interest expense on the projected benefit obligation and accruing a return on assets associated with the plan assets. Participation in and accrual of new benefits to participants has been frozen since 2007 and, accordingly, on-going service costs are not a component of net periodic pension expense. From time to time, the Company-sponsored plans may settle pension obligations with certain plan participants through the plans’ master trust as part of its de-risking strategies. The gains or losses associated with settlements of plan obligations to participants are recognized to earnings if such settlements exceed the interest component of net periodic pension cost for the year. Otherwise, such amounts are included in actuarial gains (losses) in accumulated other comprehensive income (loss). | |||
The A. H. Belo Savings Plan is the Company's defined contribution plan. As a result of fulfilling its obligations to the A.H. Belo Pension Transition Supplement Plan and in order to achieve efficient administration of the Company’s defined contribution plans, the A. H. Belo Pension Transition Supplement Plan was merged into the A.H. Belo Savings Plan in 2013 and ceased to exist as a stand-alone benefit plan of the Company. Contributions by the Company to its defined contribution plan are subject to change at management's discretion. The Company recognizes expense for contributions to the plan based on current commitments made by management to plan participants. | ||||
Contingencies, Policy | Contingencies. A. H. Belo is involved in certain claims and litigation related to its operations. The Company is required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable losses. A determination of the amount of reserves required, if any, for these contingencies is made after careful analysis of each individual matter. The required reserves may change in the future due to new developments in each matter or changes in approach, such as a change in settlement strategy in dealing with these matters. | |||
Share-based Compensation, Policy | Share-Based Compensation. The Company recognizes the granting of share-based awards at fair value in the financial statements. The fair value of option awards is estimated at the date of grant using the Black-Scholes-Merton pricing model and the fair value of restricted stock unit awards (“RSU”) is the closing price of the Company’s common stock on the date of grant. Total compensation cost is amortized to earnings over the requisite service period. Vested RSUs are redeemed 60 percent in A. H. Belo Series A common stock and 40 percent in cash over a period of three years. The Company records a liability for the portion of the outstanding RSUs to be redeemed in cash, which is adjusted to its fair value each period, based on the closing price of the Company’s common stock. | |||
Shareholders' Equity, Policy | Shareholders’ Equity. The Company authorized the issuance of shares of Series A and Series B common stock. Series A common stock has one vote per share and Series B common stock has 10 votes per share. Shares of Series B common stock are convertible at any time on a share-for-share basis into shares of Series A common stock, but not vice versa. | |||
The Company is authorized to grant stock option and restricted stock unit awards to employees and directors of the Company. Upon vesting of restricted stock units, shares of Series A common stock are issued. Upon the exercise of stock options, Series A common stock is issued if the holder of the stock options executes a simultaneous exercise and sale. If the holder of the stock option chooses not to sell the shares, Series B common stock is issued. | ||||
In 2012, the Company’s board of directors authorized the purchase of the Company’s Series A or Series B common stock, for use other than retirement, through open market purchases, privately negotiated transactions or otherwise. Treasury stock is recorded at cost, reducing shareholders’ equity. Treasury stock purchased privately through negotiated transactions at other than market prices shall be recorded at cost and the price paid in excess of the market cost shall be accounted for according to its substance. When treasury shares are subsequently sold or reissued, the cost of the treasury shares is reversed and the realized gain or loss on sale or reissue, net of any directly attributable incremental transaction costs and related tax, is recognized as a change in additional paid in capital. | ||||
Accumulated other comprehensive income (loss) consists of actuarial gains and losses associated with the A. H. Belo Pension Plans and prior service costs and deferral of gains resulting from negative plan amendments related to other post-employment benefit plans. The cumulative balances are amortized to earnings over the weighted average remaining life expectancy of the participants to the extent such balances exceed 10 percent of the greater of the respective plan’s (a) projected benefit obligation or (b) the market-related value of the plan’s assets. The Company discloses amounts reclassified from accumulated other comprehensive income (loss) to net income in Note 9 – Accumulated Other Comprehensive Loss. | ||||
Revenue Recognition, Policy | Revenue Recognition. The Company’s principal sources of revenue is the advertising space in published issues of its newspapers and on the Company’s websites, the sale of newspapers to distributors and individual subscribers, as well as amounts charged to customers for commercial printing, distribution and direct mail. Advertising revenue is recorded net of agency commission at the time the advertisements are published in the newspaper and ratably over the period of time the advertisement is placed on the websites. Marketing services revenue is recognized at the time the services are rendered. Proceeds from subscriptions are deferred and included in revenue ratably over the term of the subscriptions. Subscription revenue under buy-sell arrangements with distributors is recorded based on the net amount received from the distributor, whereas subscription revenue under fee-based delivery arrangements with distributors is recorded based on the amount received from the subscriber. Commercial printing and direct mail revenue is recorded when the product is distributed or shipped. | |||
Income Taxes, Policy | Income Taxes. The Company uses the asset and liability method of accounting for income taxes and recognizes deferred tax assets and liabilities based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates. The Company establishes a valuation allowance if it is more likely than not that the deferred tax assets will not be realized. The factors used to assess the likelihood of realization of the deferred tax asset include reversal of future deferred tax liabilities, available tax planning strategies and future taxable income. | |||
The Company also evaluates any uncertain tax positions each reporting period by tax jurisdiction to determine if it is more likely than not that the tax position will not be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements for such positions are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. If a net operating loss or other tax credit carryforward exists, the Company records the unrecognized tax benefits for such tax positions as a reduction to a deferred tax asset. Otherwise, the unrecognized tax benefits are recorded as a liability. The Company records a liability for uncertain tax positions taken or expected to be taken in a tax return. Any change in judgment related to the expected ultimate resolution of uncertain tax positions is recognized in earnings in the period in which such change occurs. Interest and penalties, if any, related to unrecognized tax benefits are recorded in interest expense. | ||||
Use of Estimates, Policy | Use of Estimates. Company management makes estimates and assumptions that affect the amounts and disclosures reported in its financial statements and include valuation allowances for doubtful accounts, uncertain tax positions and deferred tax assets, fair value measurements related to assets held for sale, pension plan assets and equity based compensation, actuarial liabilities related to self-insured risks, pension plan obligations and assumptions related to impairment and recovery of goodwill and long lived assets. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results may differ from these estimates. | |||
Segments, Policy | Segments. The Company’s operating segments are defined by the operating activities which leverage the customer base, content and other assets of its newspapers. As of December 31, 2014, the Company operates as one segment. | |||
Fair Value Measurements, Policy | Fair Value Measurements. The Company’s financial instruments, including cash, cash equivalents, accounts receivable, interest receivable, accounts payable and amounts due to customers are carried at cost, which approximates its fair value because of the short-term nature of these instruments. | |||
New Accounting Pronouncements, Policy | New Accounting Pronouncements. The FASB recently issued Accounting Standards Update (“ASU”) 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. Under this amendment, requirements for reporting discontinued operations have changed. Discontinued operations may include disposals of a business, nonprofit activity or component of an entity upon meeting certain other criteria. Disposals representing components of an entity must reflect a strategic shift that has a major effect on the entity’s operations and financial results. Previous conditions prohibiting the entity from having significant continuing involvement in the disposal group and requiring the elimination of operations and cash flows from ongoing operations of the entity have been removed. The update is effective on a prospective basis for disposals that occur within annual periods beginning on or after December 15, 2014, and interim periods in those years. The update to the standard also expands the scope of ASC 205 to disposals of equity method investments and businesses that, upon initial acquisition, qualify as held for sale. The Company adopted ASU 2014-08 on January 1, 2015. The Company does not anticipate the implementation of this update will impact the presentation of discontinued operations within its financial statements. | |||
The FASB recently issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This guidance generally clarified the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards. The standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes the most current revenue recognition guidance. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The update is effective for fiscal years and interim periods beginning after December 15, 2016, and interim periods in those years. The Company is currently evaluating the impact this update will have on its recognition and presentation of revenues within the consolidated statements of operations. | ||||
The FASB recently issued ASU 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40). This standard provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The new standard is effective for fiscal years and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company does not anticipate the adoption of this standard to have a material impact on the presentation of the consolidated financial statements or footnotes. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||
Dec. 31, 2014 | ||||
Accounting Policies [Abstract] | ||||
Property, Plant and Equipment | Depreciation of property, plant and equipment is recorded on a straight-line basis over the estimated useful lives of the assets as follows: | |||
Estimated | ||||
Useful Lives | ||||
Buildings and improvements | 5 | - | 30 years | |
Newspaper publishing equipment | 3 | - | 20 years | |
Other | 3 | - | 10 years |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ||||||||||
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures | ||||||||||
Years Ended December 31, | ||||||||||
2014 | 2013 | 2012 | ||||||||
Income (loss) from discontinued operations | ||||||||||
The Providence Journal | ||||||||||
Revenue | $ | 58,591 | 90,068 | 93,766 | ||||||
Costs and expense | (54,527 | ) | (84,703 | ) | (90,489 | ) | ||||
4,064 | 5,365 | 3,277 | ||||||||
The Press-Enterprise | ||||||||||
Revenue | — | 46,648 | 65,356 | |||||||
Costs and expense | — | (51,348 | ) | (73,382 | ) | |||||
— | (4,700 | ) | (8,026 | ) | ||||||
Income (loss) from discontinued operations | 4,064 | 665 | (4,749 | ) | ||||||
Gain related to the divestiture of discontinued operations, net | ||||||||||
Gain on sale of The Providence Journal | 17,104 | — | — | |||||||
Gain on sale of The Press-Enterprise | (47 | ) | 8,656 | — | ||||||
Gain on sale of The Press-Enterprise office building and press equipment | — | 4,746 | — | |||||||
17,057 | 13,402 | — | ||||||||
Tax expense (benefit) from discontinued operations | ||||||||||
The Providence Journal | 14,351 | 124 | 11 | |||||||
The Press-Enterprise | — | (67 | ) | (72 | ) | |||||
14,351 | 57 | (61 | ) | |||||||
Gain (loss) from discontinued operations | 6,770 | 14,010 | (4,688 | ) | ||||||
December 31, | December 31, | |||||||||
2014 | 2013 | |||||||||
Assets of discontinued operations | ||||||||||
The Providence Journal | ||||||||||
Current assets | $ | 312 | $ | 13,343 | ||||||
State income tax receivable | 253 | — | ||||||||
Property, plant and equipment, net | — | 22,249 | ||||||||
Other assets | — | 5,491 | ||||||||
Total | 565 | 41,083 | ||||||||
The Press-Enterprise | ||||||||||
Current assets | — | 1,633 | ||||||||
Total | — | 1,633 | ||||||||
Total assets of discontinued operations | $ | 565 | $ | 42,716 | ||||||
Liabilities of discontinued operations | ||||||||||
The Providence Journal | ||||||||||
Accrued expenses | $ | 543 | $ | 5,168 | ||||||
Deferred revenue | — | 4,342 | ||||||||
Total | 543 | 9,510 | ||||||||
The Press-Enterprise | ||||||||||
Accrued expenses | — | 2,028 | ||||||||
Total | — | 2,028 | ||||||||
Total liabilities of discontinued operations | $ | 543 | $ | 11,538 | ||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
Company's Identifiable Intangible Assets | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Gross intangible assets | $ | 975 | $ | 362 | ||||
Accumulated amortization | (319 | ) | (121 | ) | ||||
Net balance | $ | 656 | $ | 241 | ||||
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Investments [Abstract] | ||||||||
Company's investments | The table below sets forth the Company’s investments. | |||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
Equity method investments | $ | 1,640 | $ | 6,401 | ||||
Cost method investments | 932 | 932 | ||||||
Total investments | $ | 2,572 | $ | 7,333 | ||||
Longterm_Incentive_Plans_Table
Long-term Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Stock option activity | The table below sets forth a summary of stock option activity under the A. H. Belo long-term incentive plan. | ||||||||||||||||
Number of | Weighted-Average | ||||||||||||||||
Options | Exercise Price | ||||||||||||||||
Outstanding at December 31, 2011 | 1,696,690 | $ | 16.99 | ||||||||||||||
Exercised | (153,326 | ) | 1.97 | ||||||||||||||
Canceled | (327,684 | ) | 20.64 | ||||||||||||||
Outstanding at December 31, 2012 | 1,215,680 | 17.9 | |||||||||||||||
Exercised | (18,820 | ) | 3.7 | ||||||||||||||
Canceled | (286,327 | ) | 27.13 | ||||||||||||||
Outstanding at December 31, 2013 | 910,533 | 15.29 | |||||||||||||||
Exercised | (190,462 | ) | 4.94 | ||||||||||||||
Canceled | (287,348 | ) | 25.37 | ||||||||||||||
Outstanding at December 31, 2014 | 432,723 | $ | 13.15 | ||||||||||||||
Vested and exercisable stock options outstanding | The table below summarizes vested and exercisable A. H. Belo stock options outstanding as of December 31, 2014. | ||||||||||||||||
Range of Exercise Prices | Number of | Weighted-Average | Weighted-Average | ||||||||||||||
Options | Remaining | Exercise | |||||||||||||||
Outstanding | Life (years) | Price | |||||||||||||||
$0.00 | - | $9.99 | 204,270 | 3.8 | $ | 4.29 | |||||||||||
$10.00 | - | $19.99 | 58,832 | 1.7 | 18.3 | ||||||||||||
$20.00 | - | $29.99 | 169,621 | 0.9 | 22.04 | ||||||||||||
432,723 | 2.4 | $ | 13.15 | ||||||||||||||
RSU activity | The table below sets forth a summary of RSU activity under the A. H. Belo long-term incentive plan. | ||||||||||||||||
Total | Issuance of | RSUs | Cash | Weighted- | |||||||||||||
RSUs | Common | Redeemed in | Payments at | Average Price | |||||||||||||
Stock | Cash | Closing Price | on Date of | ||||||||||||||
of Stock | Grant | ||||||||||||||||
Non-vested at December 31, 2011 | 1,002,230 | $ | 6.01 | ||||||||||||||
Granted | 375,686 | 4.82 | |||||||||||||||
Vested | (533,043 | ) | 319,807 | 213,236 | $ | 1,025 | 5.22 | ||||||||||
Canceled | (33,255 | ) | 6.13 | ||||||||||||||
Non-vested at December 31, 2012 | 811,618 | 5.97 | |||||||||||||||
Granted | 344,811 | 5.51 | |||||||||||||||
Vested | (427,611 | ) | 256,548 | 171,063 | $ | 939 | 5.49 | ||||||||||
Non-vested at December 31, 2013 | 728,818 | 5.59 | |||||||||||||||
Granted | 123,232 | 11.85 | |||||||||||||||
Vested | (350,892 | ) | 210,522 | 140,370 | $ | 1,489 | 6.05 | ||||||||||
Non-vested at December 31, 2014 | 501,158 | $ | 6.81 | ||||||||||||||
Compensation expense related to stock awards | Compensation expense related to Company issued stock awards is set forth in the table below. | ||||||||||||||||
RSUs Redeemable in Stock | RSUs Redeemable in Cash | Total RSU Awards Expense | |||||||||||||||
2014 | $ | 702 | $ | 1,117 | $ | 1,819 | |||||||||||
2013 | 1,059 | 1,330 | 2,389 | ||||||||||||||
2012 | 1,095 | 830 | 1,925 | ||||||||||||||
Compensation expense related to Company issued stock awards is set forth in the table below. | |||||||||||||||||
RSUs Redeemable in Stock | RSUs Redeemable in Cash | Total RSU Awards Expense | |||||||||||||||
2014 | $ | 702 | $ | 1,117 | $ | 1,819 | |||||||||||
2013 | 1,059 | 1,330 | 2,389 | ||||||||||||||
2012 | 1,095 | 830 | 1,925 | ||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | The table below sets forth the income tax provision related to continuing operations. | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Current | ||||||||||||
Federal | $ | 3,865 | $ | — | $ | — | ||||||
State | 1,333 | 1,704 | 1,524 | |||||||||
Total current | 5,198 | 1,704 | 1,524 | |||||||||
Deferred | ||||||||||||
Federal | 28,577 | 2,317 | 1,811 | |||||||||
State | 646 | (394 | ) | 182 | ||||||||
Total deferred | 29,223 | 1,923 | 1,993 | |||||||||
Valuation allowance | (28,443 | ) | (2,167 | ) | (1,724 | ) | ||||||
Total income tax provision | $ | 5,978 | $ | 1,460 | $ | 1,793 | ||||||
Schedule of Effective Income Tax Rate Reconciliation | The table below reconciles the income tax provision for continuing operations computed by applying the applicable United States federal income tax rate to the tax provision computed at the effective income tax rate. | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Computed expected income tax provision | $ | 32,195 | $ | 1,182 | $ | 2,415 | ||||||
State income tax (net of federal benefit) | 1,314 | 852 | 1,297 | |||||||||
Valuation allowance | (28,443 | ) | (2,167 | ) | (1,724 | ) | ||||||
Equity compensation | — | 1,582 | — | |||||||||
Recognition of equity windfall | — | (563 | ) | — | ||||||||
Other | 912 | 574 | (195 | ) | ||||||||
Income tax provision | $ | 5,978 | $ | 1,460 | $ | 1,793 | ||||||
Effective income tax rate | 6.5 | % | 43.2 | % | 26 | % | ||||||
Schedule of Deferred Tax Assets and Liabilities | The table below sets forth the significant components of the Company’s deferred tax liabilities and assets. | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Deferred compensation and benefits | $ | 1,671 | $ | 2,923 | ||||||||
Expenses deductible for tax purposes in a year different from the year accrued | 1,221 | 2,612 | ||||||||||
Tax depreciation less than book depreciation | 3,541 | 6,964 | ||||||||||
Defined benefit plans | 22,952 | 18,071 | ||||||||||
Net operating loss | — | 19,853 | ||||||||||
Investments | 2,317 | 420 | ||||||||||
Other | 370 | 1,013 | ||||||||||
Total deferred tax assets | 32,072 | 51,856 | ||||||||||
Valuation allowance for deferred tax assets | (31,498 | ) | (46,189 | ) | ||||||||
Deferred tax assets, net | 574 | 5,667 | ||||||||||
Deferred tax liabilities | ||||||||||||
Tax amortization in excess of book amortization | 935 | 1,769 | ||||||||||
State taxes | 169 | 3,299 | ||||||||||
Total deferred tax liabilities | 1,104 | 5,068 | ||||||||||
Net deferred tax (liabilities) assets | $ | (530 | ) | $ | 599 | |||||||
Schedule of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns Roll Forward | The table below sets forth a reconciliation of the beginning and ending amount of unrecognized tax benefit. | |||||||||||
2014 | 2013 | |||||||||||
Balance at January 1 | $ | — | $ | 324 | ||||||||
Reductions for tax positions of prior years | — | (324 | ) | |||||||||
Balance at December 31 | $ | — | $ | — | ||||||||
Pension_and_Other_Retirement_P1
Pension and Other Retirement Plans (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures | The table below sets forth summarized financial information about the A. H. Belo Pension Plans. | |||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Change in projected benefit obligation | ||||||||||||||||||||||||||||||||
Projected benefit obligation at beginning of year | $ | 388,698 | $ | 441,395 | ||||||||||||||||||||||||||||
Interest cost | 17,320 | 15,995 | ||||||||||||||||||||||||||||||
Actuarial (gain) loss | 63,898 | (48,649 | ) | |||||||||||||||||||||||||||||
Benefit payments | (73,260 | ) | (20,043 | ) | ||||||||||||||||||||||||||||
Projected benefit obligation at end of year | 396,656 | 388,698 | ||||||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 338,616 | 318,574 | ||||||||||||||||||||||||||||||
Return on plan assets | 35,514 | 28,085 | ||||||||||||||||||||||||||||||
Employer contributions | 29,927 | 12,000 | ||||||||||||||||||||||||||||||
Benefit payments | (73,260 | ) | (20,043 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at end of year | 330,797 | 338,616 | ||||||||||||||||||||||||||||||
Funded status | $ | (65,859 | ) | $ | (50,082 | ) | ||||||||||||||||||||||||||
Amounts recorded on the balance sheet | ||||||||||||||||||||||||||||||||
Noncurrent liability - Accrued benefit cost | $ | 65,859 | $ | 50,082 | ||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 396,656 | $ | 388,698 | ||||||||||||||||||||||||||||
The table below sets forth summarized financial information about the A. H. Belo Pension Plans. | ||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||
Change in projected benefit obligation | ||||||||||||||||||||||||||||||||
Projected benefit obligation at beginning of year | $ | 388,698 | $ | 441,395 | ||||||||||||||||||||||||||||
Interest cost | 17,320 | 15,995 | ||||||||||||||||||||||||||||||
Actuarial (gain) loss | 63,898 | (48,649 | ) | |||||||||||||||||||||||||||||
Benefit payments | (73,260 | ) | (20,043 | ) | ||||||||||||||||||||||||||||
Projected benefit obligation at end of year | 396,656 | 388,698 | ||||||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||||||
Fair value of plan assets at beginning of year | 338,616 | 318,574 | ||||||||||||||||||||||||||||||
Return on plan assets | 35,514 | 28,085 | ||||||||||||||||||||||||||||||
Employer contributions | 29,927 | 12,000 | ||||||||||||||||||||||||||||||
Benefit payments | (73,260 | ) | (20,043 | ) | ||||||||||||||||||||||||||||
Fair value of plan assets at end of year | 330,797 | 338,616 | ||||||||||||||||||||||||||||||
Funded status | $ | (65,859 | ) | $ | (50,082 | ) | ||||||||||||||||||||||||||
Amounts recorded on the balance sheet | ||||||||||||||||||||||||||||||||
Noncurrent liability - Accrued benefit cost | $ | 65,859 | $ | 50,082 | ||||||||||||||||||||||||||||
Accumulated benefit obligation | $ | 396,656 | $ | 388,698 | ||||||||||||||||||||||||||||
Net periodic pension expense | The table below sets forth components of net periodic pension expense for 2014, 2013 and 2012. | |||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest cost | $ | 17,320 | $ | 15,995 | $ | 17,300 | ||||||||||||||||||||||||||
Expected return on plans' assets | (20,859 | ) | (19,563 | ) | (18,400 | ) | ||||||||||||||||||||||||||
Amortization of actuarial loss | — | 1,702 | 700 | |||||||||||||||||||||||||||||
Recognized settlement loss | 7,648 | — | — | |||||||||||||||||||||||||||||
Net periodic pension expense (benefit) | $ | 4,109 | $ | (1,866 | ) | $ | (400 | ) | ||||||||||||||||||||||||
The table below sets forth components of net periodic pension expense for 2014, 2013 and 2012. | ||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||
Interest cost | $ | 17,320 | $ | 15,995 | $ | 17,300 | ||||||||||||||||||||||||||
Expected return on plans' assets | (20,859 | ) | (19,563 | ) | (18,400 | ) | ||||||||||||||||||||||||||
Amortization of actuarial loss | — | 1,702 | 700 | |||||||||||||||||||||||||||||
Recognized settlement loss | 7,648 | — | — | |||||||||||||||||||||||||||||
Net periodic pension expense (benefit) | $ | 4,109 | $ | (1,866 | ) | $ | (400 | ) | ||||||||||||||||||||||||
Schedule of Allocation of Plan Assets | The table below sets forth the A. H. Belo Pension Plans’ assets at fair value as of December 31, 2014 and 2013, with inputs used to develop fair value measurements. | |||||||||||||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||||||||||||||
Total | Quoted Price in | Significant Other | Significant Unobservable Inputs | |||||||||||||||||||||||||||||
Active Markets | Observable Inputs | (Level III) | ||||||||||||||||||||||||||||||
for Identical Assets | (Level II) | |||||||||||||||||||||||||||||||
(Level I) | ||||||||||||||||||||||||||||||||
Description | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||||
Cash and money market funds | $ | 6,485 | $ | 5,389 | $ | 6,485 | $ | 5,389 | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Equity Funds | ||||||||||||||||||||||||||||||||
U.S. Equity Securities | 115,253 | 107,281 | — | — | 115,253 | 107,281 | — | — | ||||||||||||||||||||||||
International Equity Securities | 43,675 | 58,690 | 8,071 | 10,633 | 35,604 | 48,057 | — | — | ||||||||||||||||||||||||
Fixed Income Funds | ||||||||||||||||||||||||||||||||
Domestic Corporate and Government Debt Securities | 77,488 | 92,804 | — | — | 77,488 | 92,804 | — | — | ||||||||||||||||||||||||
Domestic Corporate Debt Securities | 80,906 | 67,827 | — | — | 80,906 | 67,827 | — | — | ||||||||||||||||||||||||
International Corporate and Government Debt Securities | 6,990 | 6,625 | — | — | 6,990 | 6,625 | — | — | ||||||||||||||||||||||||
Total | $ | 330,797 | $ | 338,616 | $ | 14,556 | $ | 16,022 | $ | 316,241 | $ | 322,594 | $ | — | $ | — | ||||||||||||||||
Schedule of Expected Benefit Payments | The table below sets forth the Company’s expected future benefit payments as of December 31, 2014. | |||||||||||||||||||||||||||||||
Payment year | Expected Benefit | |||||||||||||||||||||||||||||||
Payments | ||||||||||||||||||||||||||||||||
2015 | $ | 21,809 | ||||||||||||||||||||||||||||||
2016 | 21,907 | |||||||||||||||||||||||||||||||
2017 | 22,045 | |||||||||||||||||||||||||||||||
2018 | 22,257 | |||||||||||||||||||||||||||||||
2019 | 22,378 | |||||||||||||||||||||||||||||||
2020 – 2024 | 113,675 | |||||||||||||||||||||||||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||
Changes in accumulated other comprehensive loss | The table below sets forth the changes in accumulated other comprehensive loss, net of tax, as presented in the Company’s consolidated financial statements. | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Total | Defined benefit pension plans | Other post-employment benefit plans | Total | Defined benefit pension plans | Other post-employment benefit plans | |||||||||||||||||||
Balance, beginning of period | $ | (15,093 | ) | $ | (16,059 | ) | $ | 966 | $ | (73,532 | ) | $ | (74,932 | ) | $ | 1,400 | ||||||||
Amortization | 6,954 | 7,648 | (694 | ) | 981 | 1,702 | (721 | ) | ||||||||||||||||
Actuarial gains (losses) | (49,228 | ) | (49,243 | ) | 15 | 57,458 | 57,171 | 287 | ||||||||||||||||
Balance, end of period | $ | (57,367 | ) | $ | (57,654 | ) | $ | 287 | $ | (15,093 | ) | $ | (16,059 | ) | $ | 966 | ||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Weighted average shares used for calculating basic and diluted earnings per share | The table below sets forth the reconciliations for net income (loss) and weighted average shares used for calculating basic and diluted earnings per share (“EPS”). The Company’s Series A and B common stock equally share in the distributed and undistributed earnings. | |||||||||||
2014 | 2013 | 2012 | ||||||||||
Earnings (numerator) | ||||||||||||
Net income attributable to A. H. Belo Corporation | $ | 92,929 | $ | 16,119 | $ | 526 | ||||||
Less: Income (loss) from discontinued operations, net | 6,770 | 14,010 | (4,688 | ) | ||||||||
Less: Income to participating securities | 2,118 | 535 | 390 | |||||||||
Net income available to common shareholders from continuing operations | $ | 84,041 | $ | 1,574 | $ | 4,824 | ||||||
Shares (denominator) | ||||||||||||
Weighted average common shares outstanding (basic) | 21,899,602 | 21,967,666 | 21,947,981 | |||||||||
Effect of dilutive securities | 106,420 | 96,075 | 117,875 | |||||||||
Adjusted weighted average shares outstanding (diluted) | 22,006,022 | 22,063,741 | 22,065,856 | |||||||||
Earnings per share from continuing operations | ||||||||||||
Basic | $ | 3.84 | $ | 0.07 | $ | 0.22 | ||||||
Diluted | $ | 3.82 | $ | 0.07 | $ | 0.22 | ||||||
Commitments_Tables
Commitments (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||
Operating lease and capital commitment obligations | The table below sets forth the summarized commitments of the Company as of December 31, 2014. | |||||||||||||||||||||||||||
Total | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||||
Operating lease commitments | $ | 4,601 | $ | 1,224 | $ | 1,129 | $ | 1,038 | $ | 748 | $ | 443 | $ | 19 | ||||||||||||||
Capital commitments | 3,867 | 3,867 | — | — | — | — | — | |||||||||||||||||||||
Total commitments | $ | 8,468 | $ | 5,091 | $ | 1,129 | $ | 1,038 | $ | 748 | $ | 443 | $ | 19 | ||||||||||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information | The table below sets forth a summary of the unaudited consolidated quarterly results of operations for 2014 and 2013. | |||||||||||||||||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | 2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
Continuing Operations: | ||||||||||||||||||||||||||||||||
Net Operating Revenue | $ | 64,392 | $ | 66,106 | $ | 69,261 | $ | 69,123 | $ | 65,923 | $ | 67,473 | $ | 73,212 | $ | 73,481 | ||||||||||||||||
Operating Income (Loss) | (3,644 | ) | (4,854 | ) | 2,407 | 1,399 | 500 | (168 | ) | (6,949 | ) | 4,845 | ||||||||||||||||||||
Income (Loss) from Continuing Operations | (4,826 | ) | (5,309 | ) | 19,687 | 1,505 | 2,269 | 431 | 68,877 | 5,289 | ||||||||||||||||||||||
Income (Loss) from Discontinued Operations, Net | 783 | (2,767 | ) | 2,269 | (389 | ) | 16,125 | 4,838 | (12,407 | ) | 12,328 | |||||||||||||||||||||
Net Income (Loss) | (4,043 | ) | (8,076 | ) | 21,956 | 1,116 | 18,394 | 5,269 | 56,470 | 17,617 | ||||||||||||||||||||||
Net Income (Loss) Attributable to A. H. Belo Corporation | (4,037 | ) | (8,022 | ) | 21,980 | 1,181 | 18,444 | 5,321 | 56,542 | 17,639 | ||||||||||||||||||||||
Net Income (Loss) per Share from Continuing Operations (a) | ||||||||||||||||||||||||||||||||
Basic | $ | (0.22 | ) | $ | (0.24 | ) | $ | 0.86 | $ | 0.07 | $ | 0.1 | $ | 0.02 | $ | 3.09 | $ | 0.23 | ||||||||||||||
Diluted | $ | (0.22 | ) | $ | (0.24 | ) | $ | 0.85 | $ | 0.07 | $ | 0.1 | $ | 0.02 | $ | 3.07 | $ | 0.23 | ||||||||||||||
(a) | Per share amounts are computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in average quarterly shares outstanding. |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Schedule of property, plant and equipment useful lives) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Buildings and improvements | Minimum | |
Property, Plant and Equipment | |
Estimated useful life | 5 years |
Buildings and improvements | Maximum | |
Property, Plant and Equipment | |
Estimated useful life | 30 years |
Newspaper publishing equipment | Minimum | |
Property, Plant and Equipment | |
Estimated useful life | 3 years |
Newspaper publishing equipment | Maximum | |
Property, Plant and Equipment | |
Estimated useful life | 20 years |
Other | Minimum | |
Property, Plant and Equipment | |
Estimated useful life | 3 years |
Other | Maximum | |
Property, Plant and Equipment | |
Estimated useful life | 10 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Accounting Policies | ||
Bad debt expense | $2,220 | $2,025 |
Write-offs, net of recoveries and other adjustments | 2,206 | 2,553 |
Cash overnight holdings | $147,437 | |
Segments | ||
Accounting Policies | ||
Number of reportable segments | 1 | |
Series A: Common stock | ||
Accounting Policies | ||
Common Stock, Voting Rights, Number Of Votes | 1 | |
Series B: Common stock | ||
Accounting Policies | ||
Common Stock, Voting Rights, Number Of Votes | 10 | |
RSUs | ||
Accounting Policies | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Conversion, Percentage in Common Stock Shares | 60.00% | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Conversion, Percentage in Cash | 40.00% |
Discontinued_Operations_Financ
Discontinued Operations (Financial Statements of Discontinued Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | |||||||||||
Income (Loss) from discontinued operations | $4,064 | $665 | ($4,749) | ||||||||
Gain related to the divestiture of discontinued operations | 17,057 | 13,402 | 0 | ||||||||
Tax expense (benefit) from discontinued operations | 14,351 | 57 | -61 | ||||||||
Income (Loss) from discontinued operations, net | -12,407 | 16,125 | 2,269 | 783 | 12,328 | 4,838 | -389 | -2,767 | 6,770 | 14,010 | -4,688 |
Assets of discontinued operations | 565 | 42,716 | 565 | 42,716 | |||||||
Liabilities of discontinued operations | 543 | 11,538 | 543 | 11,538 | |||||||
Providence Journal | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | |||||||||||
Revenue | 58,591 | 90,068 | 93,766 | ||||||||
Costs and expense | -54,527 | -84,703 | -90,489 | ||||||||
Income (Loss) from discontinued operations | 4,064 | 5,365 | 3,277 | ||||||||
Gain related to the divestiture of discontinued operations | 17,104 | 0 | 0 | ||||||||
Tax expense (benefit) from discontinued operations | 14,351 | 124 | 11 | ||||||||
Current assets | 312 | 13,343 | 312 | 13,343 | |||||||
State income tax receivable | 253 | 0 | 253 | 0 | |||||||
Property, plant and equipment | 0 | 22,249 | 0 | 22,249 | |||||||
Other assets | 0 | 5,491 | 0 | 5,491 | |||||||
Assets of discontinued operations | 565 | 41,083 | 565 | 41,083 | |||||||
Accrued expenses | 543 | 5,168 | 543 | 5,168 | |||||||
Deferred revenue | 0 | 4,342 | 0 | 4,342 | |||||||
Liabilities of discontinued operations | 543 | 9,510 | 543 | 9,510 | |||||||
Press Enterprise | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | |||||||||||
Revenue | 0 | 46,648 | 65,356 | ||||||||
Costs and expense | 0 | -51,348 | -73,382 | ||||||||
Income (Loss) from discontinued operations | 0 | -4,700 | -8,026 | ||||||||
Tax expense (benefit) from discontinued operations | 0 | -67 | -72 | ||||||||
Current assets | 0 | 1,633 | 0 | 1,633 | |||||||
Assets of discontinued operations | 0 | 1,633 | 0 | 1,633 | |||||||
Accrued expenses | 0 | 2,028 | 0 | 2,028 | |||||||
Liabilities of discontinued operations | 0 | 2,028 | 0 | 2,028 | |||||||
Press Enterprise Operations Sale | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | |||||||||||
Gain related to the divestiture of discontinued operations | -47 | 8,656 | 0 | ||||||||
Press Enterprise Building and Equipment Sale | |||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations | |||||||||||
Gain related to the divestiture of discontinued operations | $0 | $4,746 | $0 |
Discontinued_Operations_Narrat
Discontinued Operations (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Significant Acquisitions and Disposals | |||
Gain related to the divestiture of discontinued operations | $17,057 | $13,402 | $0 |
Proceeds from sale of property, plant, and equipment | 10,085 | 6 | 628 |
Gain on disposal of property, plant, and equipment | 2,787 | 6 | 387 |
Providence Journal | |||
Significant Acquisitions and Disposals | |||
Disposal date | 3-Sep-14 | ||
Purchase price | 46,000 | ||
Working capital adjustment | 2,654 | ||
Selling expense | 3,237 | ||
Closing costs | 110 | ||
Gain related to the divestiture of discontinued operations | 17,104 | 0 | 0 |
Press Enterprise Building and Equipment Sale | |||
Significant Acquisitions and Disposals | |||
Disposal date | 17-Jul-13 | ||
Proceeds from divestiture of businesses, net of cash divested | 29,093 | ||
Selling expense | 1,457 | ||
Gain related to the divestiture of discontinued operations | 0 | 4,746 | 0 |
Press Enterprise Operations Sale | |||
Significant Acquisitions and Disposals | |||
Disposal date | 21-Nov-13 | ||
Proceeds from divestiture of businesses, net of cash divested | 27,828 | ||
Gain related to the divestiture of discontinued operations | -47 | 8,656 | 0 |
Fourth Quarter Real Estate Sales | |||
Significant Acquisitions and Disposals | |||
Proceeds from sale of property, plant, and equipment | 6,677 | ||
Gain on disposal of property, plant, and equipment | 1,827 | ||
Third Quarter Real Estate Sales | |||
Significant Acquisitions and Disposals | |||
Proceeds from sale of property, plant, and equipment | 3,408 | ||
Gain on disposal of property, plant, and equipment | $862 |
Goodwill_and_Other_Intangibles
Goodwill and Other Intangibles (Schedule of identifiable intangible assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets | ||
Gross balance | $975 | $362 |
Accumulated amortization | -319 | -121 |
Net balance | $656 | $241 |
Goodwill_and_Other_Intangibles1
Goodwill and Other Intangibles (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Carrying value of goodwill | $24,582 | $24,582 | |
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 75.00% | ||
Finite-Lived Intangible Assets | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Amortization | 198 | 121 | 0 |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 328 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 207 | ||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | $121 |
Investments_Schedule_of_invest
Investments (Schedule of investments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Investments | ||
Equity method investments | $1,640 | $6,401 |
Cost method investments | 932 | 932 |
Total investments | $2,572 | $7,333 |
Investments_Narrative_Details
Investments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments | |||
Gains on equity method investments, net | $93,898 | $2,269 | $2,399 |
Other than temporary impairment losses, investments | 1,871 | 0 | 0 |
Purchase of investments | 2,279 | 1,377 | 742 |
Untapped | |||
Investments | |||
Consolidated method - A. H. Belo ownership | 51.00% | ||
Speakeasy | |||
Investments | |||
Consolidated method - A. H. Belo ownership | 70.00% | ||
Wanderful | |||
Investments | |||
Equity method - A. H. Belo ownership | 13.00% | ||
Other than temporary impairment losses, investments | 1,871 | ||
Purchase of investments | 1,909 | ||
Classified Ventures | |||
Investments | |||
Equity method - A. H. Belo ownership | 3.30% | ||
Proceeds from equity method investment, dividends | 765 | 2,952 | 2,427 |
Other nonoperating income | 3,540 | ||
Classified Ventures | Apartments.com Sale | |||
Investments | |||
Gains on equity method investments, net | 18,479 | ||
Equity method summarized financial information divestiture proceeds | 585,000 | ||
Proceeds from equity method investment, distributions or return of capital | 18,861 | ||
Classified Ventures | Classified Ventures Sale | |||
Investments | |||
Equity method investment, proceeds received | 77,661 | ||
Escrow proceeds receivable | 3,280 | ||
Equity method investment, gain on disposal | $77,092 |
Longterm_Incentive_Plans_Sched
Long-term Incentive Plans (Schedule of stock options outstanding activity) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock option activity rollforward | |||
Number of Options, Outstanding, Beginning Balance | 910,533 | 1,215,680 | 1,696,690 |
Number of Options Exercised | -190,462 | -18,820 | -153,326 |
Number of Options Canceled | -287,348 | -286,327 | -327,684 |
Number of Options, Outstanding, Ending Balance | 432,723 | 910,533 | 1,215,680 |
Weighted average price per share | |||
Weighted Average Exercise Price, Outstanding Beginning Balance | $15.29 | $17.90 | $16.99 |
Weighted Average Exercise Price, Exercised | $4.94 | $3.70 | $1.97 |
Weighted Average Exercise Price, Canceled | $25.37 | $27.13 | $20.64 |
Weighted Average Exercise Price, Outstanding Ending Balance | $13.15 | $15.29 | $17.90 |
Longterm_Incentive_Plans_Sched1
Long-term Incentive Plans (Schedule of stock options vested and exercisable) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
Vested and exercisable options - price ranges | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 432,723 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 2 years 4 months 18 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $13.15 |
Exercise Price Range Of 0 Dollars Through 9 Dollars 99 Cents | |
Vested and exercisable options - price ranges | |
Exercise Price Range, Lower Range Limit | $0 |
Exercise Price Range, Upper Range Limit | $9.99 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 204,270 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 3 years 9 months 20 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $4.29 |
Exercise Price Range Of10 Dollars Through 19 Dollars 99 Cents | |
Vested and exercisable options - price ranges | |
Exercise Price Range, Lower Range Limit | $10 |
Exercise Price Range, Upper Range Limit | $19.99 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 58,832 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 1 year 8 months 10 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $18.30 |
Exercise Price Range Of 20 Dollars Through 29 Dollars 99 Cents | |
Vested and exercisable options - price ranges | |
Exercise Price Range, Lower Range Limit | $20 |
Exercise Price Range, Upper Range Limit | $29.99 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 169,621 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 0 years 11 months 4 days |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $22.04 |
Longterm_Incentive_Plans_Sched2
Long-term Incentive Plans (Schedule of RSU activity) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
RSU non-vested rollforward | |||
Beginning Balance - Total RSUs | 728,818 | 811,618 | 1,002,230 |
Granted | 123,232 | 344,811 | 375,686 |
Vested | -350,892 | -427,611 | -533,043 |
Canceled | -33,255 | ||
Ending Balance - Total RSUs | 501,158 | 728,818 | 811,618 |
Vested RSUs redeemed for stock, cash, and related payments | |||
Issuance of Common Stock | 210,522 | 256,548 | 319,807 |
RSUs Redeemed in Cash | 140,370 | 171,063 | 213,236 |
Cash Payments at Closing Price of Stock | $1,489 | $939 | $1,025 |
Weighted-Average Price on Date of Grant | |||
Beginning balance - Weighted average price | $5.59 | $5.97 | $6.01 |
Granted | $11.85 | $5.51 | $4.82 |
Vested | $6.05 | $5.49 | $5.22 |
Canceled | $6.13 | ||
Ending balance - Weighted average price | $6.81 | $5.59 | $5.97 |
Longterm_Incentive_Plans_Narra
Long-term Incentive Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 08, 2008 |
Share-based compensation expense | |||||
Options, Exercises in Period, Intrinsic Value | $1,099 | $91 | $395 | ||
Options, Outstanding, Intrinsic Value | 1,245 | ||||
Number of Shares Authorized | 8,000,000 | ||||
Options, Outstanding, Number | 432,723 | 910,533 | 1,215,680 | 1,696,690 | |
Employee Stock Option | |||||
Share-based compensation expense | |||||
Options Expiration Term | 10 years | ||||
RSUs | |||||
Share-based compensation expense | |||||
RSUs Redeemed in Cash, Liability | 1,766 | ||||
RSUs, Percentage of Redemption in Common Stock | 60.00% | ||||
RSUs, Percentage of Redemption in Cash | 40.00% | ||||
RSUs, Nonvested, Compensation Cost Not yet Recognized | $234 | ||||
RSUs, Nonvested, Compensation Cost Not yet Recognized, Period for Recognition | 0 years 8 months 12 days | ||||
Minimum | Employee Stock Option | |||||
Share-based compensation expense | |||||
RSUs, Award Vesting Period | 1 year | ||||
Maximum | Employee Stock Option | |||||
Share-based compensation expense | |||||
RSUs, Award Vesting Period | 3 years | ||||
Employee Including Directors | Employee Stock Option | |||||
Share-based compensation expense | |||||
Options, Outstanding, Number | 315,322 | ||||
Former Parent Company Employees | Employee Stock Option | |||||
Share-based compensation expense | |||||
Options, Outstanding, Number | 117,401 |
Longterm_Incentive_Plans_Sched3
Long-term Incentive Plans (Schedule of compensation expense related to stock awards) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | $1,819 | $2,389 | $1,925 |
RSUs Redeemable in Stock, Expense | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | 702 | 1,059 | 1,095 |
RSUs Redeemable in Cash, Expense | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Share-based compensation expense | $1,117 | $1,330 | $830 |
Longterm_Debt_Narrative_Detail
Long-term Debt (Narrative) (Details) (Revolving Credit Facility, USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Revolving Credit Facility | |
Line of Credit | |
Debt issuance costs amortized | $401 |
Income_Taxes_Schedule_of_incom
Income Taxes (Schedule of income tax provision) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current | |||
Federal | $3,865 | $0 | $0 |
State | 1,333 | 1,704 | 1,524 |
Total current | 5,198 | 1,704 | 1,524 |
Deferred | |||
Federal | 28,577 | 2,317 | 1,811 |
State | 646 | -394 | 182 |
Total deferred | 29,223 | 1,923 | 1,993 |
Valuation allowance | -28,443 | -2,167 | -1,724 |
Total income tax provision | $5,978 | $1,460 | $1,793 |
Income_Taxes_Schedule_of_effec
Income Taxes (Schedule of effective income tax rate reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Computed expected income tax provision | $32,195 | $1,182 | $2,415 |
State income tax (net of federal benefit) | 1,314 | 852 | 1,297 |
Valuation allowance | -28,443 | -2,167 | -1,724 |
Equity compensation | 0 | 1,582 | 0 |
Recognition of equity windfall | 0 | -563 | 0 |
Other | 912 | 574 | -195 |
Total income tax provision | $5,978 | $1,460 | $1,793 |
Effective income tax rate | 6.50% | 43.20% | 26.00% |
Income_Taxes_Schedule_of_net_d
Income Taxes (Schedule of net deferred tax assets and liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred tax assets | ||
Deferred compensation and benefits | $1,671 | $2,923 |
Expenses deductible for tax purposes in a year different from the year accrued | 1,221 | 2,612 |
Tax depreciation less than book depreciation | 3,541 | 6,964 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Postretirement Benefits | 22,952 | 18,071 |
Net operating loss | 0 | 19,853 |
Investments | 2,317 | 420 |
Deferred Tax Assets, Other | 370 | 1,013 |
Total deferred tax assets | 32,072 | 51,856 |
Valuation allowance for deferred tax assets | -31,498 | -46,189 |
Deferred tax assets, net | 574 | 5,667 |
Deferred tax liabilities | ||
Tax amortization in excess of book amortization | 935 | 1,769 |
State taxes | 169 | 3,299 |
Total deferred tax liabilities | 1,104 | 5,068 |
Net deferred tax liabilities | -530 | |
Net deferred tax assets | $599 |
Income_Taxes_Schedule_of_unrec
Income Taxes (Schedule of unrecognized tax positions) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance at January 1 | $0 | $324 |
Reductions for tax positions of prior years | 0 | -324 |
Balance at December 31 | $0 | $0 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Loss Carryforwards | |||
Net operating loss carryforwards utilized | $19,567 | ||
Net refund resulting from carryback | 1,334 | ||
Income Taxes Paid, Net | 8,759 | 1,432 | 1,489 |
Federal | |||
Operating Loss Carryforwards | |||
Net operating loss | 0 | ||
State | |||
Operating Loss Carryforwards | |||
Net operating loss | 0 | ||
2011 and 2012 Tax Deductions [Member] | |||
Operating Loss Carryforwards | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 104 | ||
2014 Tax Deductions [Member] | |||
Operating Loss Carryforwards | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $829 |
Pension_and_Other_Retirement_P2
Pension and Other Retirement Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan, Change in Plan Assets [Roll Forward] | |||
Noncurrent liability - Accrued benefit cost | $65,859 | $50,082 | |
Pension Plans, Defined Benefit | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll forward] | |||
Projected benefit obligation at beginning of year | 388,698 | 441,395 | |
Interest cost | 17,320 | 15,995 | 17,300 |
Actuarial (gain) loss | 63,898 | -48,649 | |
Benefit payments | -73,260 | -20,043 | |
Projected benefit obligation at end of year | 396,656 | 388,698 | 441,395 |
Defined Benefit Plan, Change in Plan Assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 338,616 | 318,574 | |
Return on plan assets | 35,514 | 28,085 | |
Employer contributions | 29,927 | 12,000 | |
Benefit payments | -73,260 | -20,043 | |
Fair value of plan assets at end of year | 330,797 | 338,616 | 318,574 |
Funded status | -65,859 | -50,082 | |
Noncurrent liability - Accrued benefit cost | 65,859 | 50,082 | |
Accumulated benefit obligation | $396,656 | $388,698 |
Pension_and_Other_Retirement_P3
Pension and Other Retirement Plans (Schedule of net periodic pension benefit (Details) (Pension Plans, Defined Benefit, USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Plans, Defined Benefit | |||
Defined Benefit Plan Disclosure | |||
Interest cost | $17,320 | $15,995 | $17,300 |
Expected return on plans' assets | -20,859 | -19,563 | -18,400 |
Amortization of actuarial loss | 0 | 1,702 | 700 |
Recognized settlement loss | 7,648 | 0 | 0 |
Net periodic pension expense (benefit) | $4,109 | ($1,866) | ($400) |
Pension_and_Other_Retirement_P4
Pension and Other Retirement Plans (Schedule of fair value and allocation of plan assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||
Cash and money market funds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | $6,485 | $5,389 | |
U.S. Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 115,253 | 107,281 | |
International Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 43,675 | 58,690 | |
Domestic Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 77,488 | 92,804 | |
Domestic Corporate Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 80,906 | 67,827 | |
International Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 6,990 | 6,625 | |
Level I - Fair Value, Inputs | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 14,556 | 16,022 | |
Level I - Fair Value, Inputs | Cash and money market funds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 6,485 | 5,389 | |
Level I - Fair Value, Inputs | U.S. Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level I - Fair Value, Inputs | International Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 8,071 | 10,633 | |
Level I - Fair Value, Inputs | Domestic Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level I - Fair Value, Inputs | Domestic Corporate Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level I - Fair Value, Inputs | International Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level II - Significant Other Observable Inputs | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 316,241 | 322,594 | |
Level II - Significant Other Observable Inputs | Cash and money market funds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level II - Significant Other Observable Inputs | U.S. Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 115,253 | 107,281 | |
Level II - Significant Other Observable Inputs | International Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 35,604 | 48,057 | |
Level II - Significant Other Observable Inputs | Domestic Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 77,488 | 92,804 | |
Level II - Significant Other Observable Inputs | Domestic Corporate Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 80,906 | 67,827 | |
Level II - Significant Other Observable Inputs | International Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 6,990 | 6,625 | |
Level III - Fair Value, Inputs | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level III - Fair Value, Inputs | Cash and money market funds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level III - Fair Value, Inputs | U.S. Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level III - Fair Value, Inputs | International Equity Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level III - Fair Value, Inputs | Domestic Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level III - Fair Value, Inputs | Domestic Corporate Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Level III - Fair Value, Inputs | International Corporate and Government Debt Securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | 0 | 0 | |
Pension Plans, Defined Benefit | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||
Fair value of plan assets | $330,797 | $338,616 | $318,574 |
Pension_and_Other_Retirement_P5
Pension and Other Retirement Plans (Schedule of expected benefit payments) (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Defined Benefit Plan, Expected Future Benefit Payments, Rolling Maturity [Abstract] | |
2015 | $21,809 |
2016 | 21,907 |
2017 | 22,045 |
2018 | 22,257 |
2019 | 22,378 |
Thereafter | $113,675 |
Pension_and_Other_Retirement_P6
Pension and Other Retirement Plans (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure | |||
Actuarial gains (losses) | ($49,228) | $57,458 | |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax | -6,954 | -981 | -32 |
Defined Benefit Plan, Estimated Future Employer Contributions | |||
Estimated future employer contributions in 2015 | 0 | ||
401(K) plan | |||
Defined Contribution Plans | |||
Maximum pretax contribution per employee | 100.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent | 1.50% | ||
Expense recognized | 987 | 973 | 919 |
Pension Transition Supplement Plan | |||
Defined Contribution Plans | |||
Expense recognized | 598 | 2,227 | |
Maximum period of supplemental contributions to the PTS plan | 5 years | ||
Defined Contribution Plan, Employer Discretionary Contribution Amount | 2,826 | 2,305 | |
Other Post-Employment Benefit Plans | |||
Defined Benefit Plan Disclosure | |||
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent | 1,651 | 1,680 | |
Net periodic pension (benefit) cost | -630 | -631 | -602 |
Actuarial gains (losses) | 15 | 287 | 118 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax | 694 | 721 | |
Pension Plans, Defined Benefit | |||
Defined Benefit Plan Disclosure | |||
Number of employee participants | 4,000 | ||
Discount rate of projected benefit obligation | 3.70% | 4.60% | |
Discount rate, net periodic pension benefit (cost) | 4.60% | 3.70% | 4.20% |
Expected long-term return on plan ssets | 6.50% | 6.50% | 6.50% |
Employer contributions | 29,927 | 12,000 | |
Net periodic pension (benefit) cost | -4,109 | 1,866 | 400 |
Actuarial gains (losses) | -49,243 | 57,171 | -10,613 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax | -7,648 | -1,702 | |
Plan Settlements | |||
Defined benefit plan, total participants accepting pay-out | 721 | 889 | |
Defined Benefit Plan, Settlements, Plan Assets | 52,919 | 10,526 | |
Defined Benefit Plan, Settlements, Benefit Obligation | 70,000 | 14,500 | |
Recognized settlement loss | 7,648 | 0 | 0 |
Defined Benefit Plan, Estimated Future Employer Contributions | |||
Estimated future employer contributions in 2015 | 0 | ||
Pension Plans, Defined Benefit | Equity Securities | |||
Defined Benefit Plan, Assets, Target Allocations | |||
Target allocation of plans' assets | 50.00% | ||
Defined Benefit Plan, Assets for Plan Benefits | |||
Allocation of plans' assets | 49.00% | ||
Pension Plans, Defined Benefit | Fixed Income Securities | |||
Defined Benefit Plan, Assets, Target Allocations | |||
Target allocation of plans' assets | 50.00% | ||
Defined Benefit Plan, Assets for Plan Benefits | |||
Allocation of plans' assets | 51.00% | ||
Required Contributions | Pension Plans, Defined Benefit | |||
Defined Benefit Plan Disclosure | |||
Employer contributions | 9,927 | 7,396 | |
Voluntary Contributions | Pension Plans, Defined Benefit | |||
Defined Benefit Plan Disclosure | |||
Employer contributions | $20,000 | $4,604 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans | |||
Balance, beginning of period | ($15,093) | ($73,532) | |
Amortization of net actuarial losses | 6,954 | 981 | 32 |
Actuarial gains (losses) | -49,228 | 57,458 | |
Balance, end of period | -57,367 | -15,093 | -73,532 |
Pension Plans, Defined Benefit | |||
Defined Benefit Plans and Other Postretirement Benefit Plans | |||
Balance, beginning of period | -16,059 | -74,932 | |
Amortization of net actuarial losses | 7,648 | 1,702 | |
Actuarial gains (losses) | -49,243 | 57,171 | -10,613 |
Balance, end of period | -57,654 | -16,059 | -74,932 |
Other Post-Employment Benefit Plans | |||
Defined Benefit Plans and Other Postretirement Benefit Plans | |||
Balance, beginning of period | 966 | 1,400 | |
Amortization of net actuarial losses | -694 | -721 | |
Actuarial gains (losses) | 15 | 287 | 118 |
Balance, end of period | $287 | $966 | $1,400 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Equity [Abstract] | |
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year | ($1,251) |
Earnings_Per_Share_Schedule_of
Earnings Per Share (Schedule of earnings per share reconciliation) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share [Abstract] | |||||||||||
Net Income Attributable to A. H. Belo Corporation | $56,542 | $18,444 | $21,980 | ($4,037) | $17,639 | $5,321 | $1,181 | ($8,022) | $92,929 | $16,119 | $526 |
Less: Income (loss) from discontinued operations, net | -12,407 | 16,125 | 2,269 | 783 | 12,328 | 4,838 | -389 | -2,767 | 6,770 | 14,010 | -4,688 |
Less: Income to participating securities | 2,118 | 535 | 390 | ||||||||
Net income available to common shareholders from continuing operations | $84,041 | $1,574 | $4,824 | ||||||||
Weighted Average Number of Shares Outstanding | |||||||||||
Weighted average common shares outstanding (basic) | 21,899,602 | 21,967,666 | 21,947,981 | ||||||||
Effect of dilutive securities | 106,420 | 96,075 | 117,875 | ||||||||
Adjusted weighted average shares outstanding (diluted) | 22,006,022 | 22,063,741 | 22,065,856 | ||||||||
Earnings per share from continuing operations | |||||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $3.09 | $0.10 | $0.86 | ($0.22) | $0.23 | $0.02 | $0.07 | ($0.24) | $3.84 | $0.07 | $0.22 |
Income (Loss) from Continuing Operations, Per Diluted Share | $3.07 | $0.10 | $0.85 | ($0.22) | $0.23 | $0.02 | $0.07 | ($0.24) | $3.82 | $0.07 | $0.22 |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Earnings Per Share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 729,611 | 1,474,999 | 1,909,423 |
Commitments_Details
Commitments (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating lease commitments | |
Total operating lease future payments due | $4,601 |
2015 | 1,224 |
2016 | 1,129 |
2017 | 1,038 |
2018 | 748 |
2019 | 443 |
Thereafter | 19 |
Capital lease commitments | |
Total capital lease future payments due | 3,867 |
2015 | 3,867 |
2016 | 0 |
2017 | 0 |
2018 | 0 |
2019 | 0 |
Thereafter | 0 |
Total commitments | |
Total commitments | 8,468 |
2015 | 5,091 |
2016 | 1,129 |
2017 | 1,038 |
2018 | 748 |
2019 | 443 |
Thereafter | $19 |
Commitments_Narrative_Details
Commitments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies Disclosure [Abstract] | |||
Lease expense for property and equipment | $1,724 | $1,813 | $1,883 |
Estimated future employer contributions in 2015 | 0 | ||
Dividends Payable [Line Items] | |||
Dividends Payable | 50,148 | 0 | 0 |
Special Dividend Declared December 11, 2014 | |||
Dividends Payable [Line Items] | |||
Dividends Payable | $50,148 | ||
Dividends Payable, Date of Record | 30-Dec-14 | ||
Common Stock, Dividends, Per Share, Declared | $2.25 | ||
Dividends Payable, Date Declared | 11-Dec-14 | ||
Dividends Payable, Date to be Paid | 14-Jan-15 | ||
Dividend Declared December 11, 2014 | |||
Dividends Payable [Line Items] | |||
Dividends Payable, Date of Record | 13-Feb-15 | ||
Common Stock, Dividends, Per Share, Declared | $0.08 | ||
Dividends Payable, Date Declared | 11-Dec-14 | ||
Dividends Payable, Date to be Paid | 6-Mar-15 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Related Party Transactions [Abstract] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $853 | $1,399 |
SUPPLEMENTAL_CASH_FLOW_DATA_Su1
SUPPLEMENTAL CASH FLOW DATA Supplemental Cash Flow Data (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Cash Flow Elements [Abstract] | |||
Income Taxes Paid, Net | $8,759 | $1,432 | $1,489 |
Dividends Payable | 50,148 | 0 | 0 |
Accrued Investment Income Receivable | 3,280 | 0 | 0 |
Other than Temporary Impairment Losses, Investments | $1,871 | $0 | $0 |
Noncash Contributions by Noncontrolling Interests | 183 | 87 | 35 |
SUBSEQUENT_EVENTS_Details
SUBSEQUENT EVENTS (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Subsequent Events [Abstract] | |
Business Acquisition, Effective Date of Acquisition | 5-Jan-15 |
Business Acquisition, Name of Acquired Entity | Distribion, Inc., Vertical Nerve, Inc. and CDFX, LLC |
Business Acquisition, Description of Acquired Entity | local marketing automation, search engine marketing, direct mail and promotional products |
Business Acquisition, Percentage of Voting Interests Acquired | 80.00% |
Business Acquisition, Provisional Information, Consideration Transferred | $14,120 |
Business Acquisition, Transaction Costs Incurred to Date | 527 |
Business Acquisition, Expected Total Transaction Costs | $1,300 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net Operating Revenue | |||||||||||
Net Operating Revenue | $73,212 | $65,923 | $69,261 | $64,392 | $73,481 | $67,473 | $69,123 | $66,106 | $272,788 | $276,183 | $280,924 |
Operating Income (Loss) | -6,949 | 500 | 2,407 | -3,644 | 4,845 | -168 | 1,399 | -4,854 | -7,686 | 1,222 | 4,134 |
Income (Loss) from Continuing Operations | 68,877 | 2,269 | 19,687 | -4,826 | 5,289 | 431 | 1,505 | -5,309 | 86,007 | 1,916 | 5,107 |
Income (Loss) from discontinued operations, net | -12,407 | 16,125 | 2,269 | 783 | 12,328 | 4,838 | -389 | -2,767 | 6,770 | 14,010 | -4,688 |
Net Income (Loss) | 56,470 | 18,394 | 21,956 | -4,043 | 17,617 | 5,269 | 1,116 | -8,076 | 92,777 | 15,926 | 419 |
Net Income (Loss) Attributable to A. H. Belo Corporation | $56,542 | $18,444 | $21,980 | ($4,037) | $17,639 | $5,321 | $1,181 | ($8,022) | $92,929 | $16,119 | $526 |
Net income (loss) per share from continuing operations | |||||||||||
Basic | $3.09 | $0.10 | $0.86 | ($0.22) | $0.23 | $0.02 | $0.07 | ($0.24) | $3.84 | $0.07 | $0.22 |
Diluted | $3.07 | $0.10 | $0.85 | ($0.22) | $0.23 | $0.02 | $0.07 | ($0.24) | $3.82 | $0.07 | $0.22 |