Supplemental equity information | Supplemental equity information The following table summarizes equity account activity for the six months ended June 30, 2018 and 2017 (in thousands): TEGNA Inc. Shareholders’ Equity Noncontrolling Interests Total Equity Balance at Dec. 31, 2017 $ 995,041 $ — $ 995,041 Comprehensive income: Net income 147,699 — 147,699 Other comprehensive income 7,026 — 7,026 Total comprehensive income 154,725 — 154,725 Dividends declared (30,122 ) — (30,122 ) Stock-based compensation 7,967 — 7,967 Treasury shares acquired (5,831 ) — (5,831 ) Impact from adoption of new revenue standard (3,724 ) — (3,724 ) Other activity, including shares withheld for employee taxes (1,145 ) — (1,145 ) Balance at June 30, 2018 $ 1,116,911 $ — $ 1,116,911 Balance at Dec. 31, 2016 $ 2,271,418 $ 281,587 $ 2,553,005 Comprehensive income: Net loss (72,638 ) (55,892 ) (128,530 ) Redeemable noncontrolling interests (income not available to shareholders) — (2,832 ) (2,832 ) Other comprehensive income 9,438 4,409 13,847 Total comprehensive loss (63,200 ) (54,315 ) (117,515 ) Dividends declared (45,055 ) — (45,055 ) Stock-based compensation 10,160 — 10,160 Treasury shares acquired (8,453 ) — (8,453 ) Spin-off of Cars.com (1,510,342 ) — (1,510,342 ) Other activity, including shares withheld for employee taxes (5,443 ) (2,179 ) (7,622 ) Balance at June 30, 2017 $ 649,085 $ 225,093 $ 874,178 The following table summarizes the components of, and the changes in, Accumulated Other Comprehensive Loss (AOCL), net of tax and noncontrolling interests (in thousands): Retirement Plans Foreign Currency Translation Other Total Quarters Ended: Balance at Mar. 31, 2018 $ (126,257 ) $ 264 $ — $ (125,993 ) Other comprehensive income before reclassifications — 283 — 283 Amounts reclassified from AOCL 969 — — 969 Total other comprehensive income 969 283 — 1,252 Balance at June 30, 2018 $ (125,288 ) $ 547 $ — $ (124,741 ) Balance at Mar. 31, 2017 $ (126,063 ) $ (27,363 ) $ (7,965 ) $ (161,391 ) Other comprehensive income before reclassifications — 3,755 586 4,341 Amounts reclassified from AOCL 1,431 — 9,743 11,174 Other comprehensive income 1,431 3,755 10,329 15,515 Balance at June 30, 2017 $ (124,632 ) $ (23,608 ) $ 2,364 $ (145,876 ) Retirement Plans Foreign Currency Translation Other Total Six Months Ended: Balance at Dec. 31, 2017 $ (107,037 ) $ 114 $ — $ (106,923 ) Other comprehensive income before reclassifications — 433 — 433 Amounts reclassified from AOCL 6,593 — — 6,593 Total other comprehensive income 6,593 433 — 7,026 Reclassification of stranded tax effects to retained earnings (24,844 ) — — (24,844 ) Balance at June 30, 2018 $ (125,288 ) $ 547 $ — $ (124,741 ) Balance at Dec. 31, 2016 $ (127,341 ) $ (28,560 ) $ (5,672 ) $ (161,573 ) Other comprehensive income (loss) before reclassifications — 4,952 (1,707 ) 3,245 Amounts reclassified from AOCL 2,709 — 9,743 12,452 Other comprehensive income 2,709 4,952 8,036 15,697 Balance at June 30, 2017 $ (124,632 ) $ (23,608 ) $ 2,364 $ (145,876 ) Reclassifications from AOCL to the Statement of Income are comprised of pension and other post-retirement components. Pension and other post retirement reclassifications are related to the amortization of prior service costs, amortization of actuarial losses, and a lump-sum payment charge related to our SERP plan. Amounts reclassified out of AOCL are summarized below (in thousands): Quarter ended June 30, Six months ended June 30, 2018 2017 2018 2017 Amortization of prior service (credit) cost $ (101 ) $ 32 $ (201 ) $ 32 Amortization of actuarial loss 1,403 2,295 2,753 4,370 Reclassification of available for sale investment — 9,743 — 9,743 Lump-sum payment charge — — 6,300 — Total reclassifications, before tax 1,302 12,070 8,852 14,145 Income tax effect (333 ) (896 ) (2,259 ) (1,693 ) Total reclassifications, net of tax $ 969 $ 11,174 $ 6,593 $ 12,452 Performance Share Award Program During the first quarter of 2018, the Leadership Development and Compensation Committee (LDCC) of the Board of Directors established new performance metrics for long-term incentive awards under the Company’s 2001 Omnibus Incentive Compensation Plan (Amended and restated as of May 4, 2010), as amended (Plan), for our executives designed to better reflect TEGNA as a pure-play broadcaster. On March 1, 2018, we granted certain employees performance share awards (PSAs) reflecting these new metrics with an aggregate target award of approximately 0.6 million shares of our common stock. The number of shares earned under the March 1 PSAs will be determined based on the achievement of certain financial performance criteria (adjusted EBITDA and free cash flow as defined by the PSA) over a two-year cumulative financial performance period. If the financial performance criteria are met and certified by the LDCC, the shares earned under the PSA will be subject to an additional one year service period before the common stock is released to the employees. The PSAs do not pay dividends or allow voting rights during the performance period. Therefore, the fair value of the PSA is the quoted market value of our stock on the grant date less the present value of the expected dividends not received during the relevant performance period. The PSA provides the LDCC with limited discretion to make adjustments to the financial targets to ensure consistent year-to-year comparison for the performance criteria. For expense recognition, in the period it becomes probable that the minimum performance criteria specified in the PSA will be achieved, we will recognize expense for the proportionate share of the total fair value of the shares subject to the PSA related to the vesting period that has already lapsed. Each reporting period we will adjust the fair value of the PSAs to the quoted market value of our stock price. In the event we determine it is no longer probable that we will achieve the minimum performance criteria specified in the PSA, we will reverse all of the previously recognized compensation expense in the period such a determination is made. |