The New York Times Company (NYT) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document Entity Information

Document Entity Information - shares	3 Months Ended
	Mar. 26, 2017	Apr. 28, 2017
Entity Information [Line Items]
Entity Registrant Name	NEW YORK TIMES CO
Entity Central Index Key	71,691
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 26, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	NYT
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		160,737,693
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		812,757

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 26, 2017	Dec. 25, 2016
Current assets
Cash and cash equivalents	$ 150,964	$ 100,692
Short-term marketable securities	392,249	449,535
Accounts receivable (net of allowances of $15,910 in 2017 and $16,815 in 2016)	176,913	197,355
Prepaid expenses	16,797	15,948
Other current assets	31,008	32,648
Total current assets	767,931	796,178
Long-term marketable securities	209,331	187,299
Investments in joint ventures	16,492	15,614
Property, plant and equipment (less accumulated depreciation and amortization of $917,617 in 2017 and $903,736 in 2016)	588,505	596,743
Goodwill	136,391	134,517
Deferred income taxes	298,376	301,342
Miscellaneous assets	153,200	153,702
Total assets	2,170,226	2,185,395
Current liabilities
Accounts payable	101,924	104,463
Accrued payroll and other related liabilities	61,645	96,463
Unexpired subscriptions	82,545	66,686
Accrued expenses and other	141,731	131,125
Total current liabilities	387,845	398,737
Other liabilities
Long-term debt and capital lease obligations	247,785	246,978
Pension benefits obligation	545,957	558,790
Postretirement benefits obligation	57,244	57,999
Other	74,432	78,647
Total other liabilities	925,418	942,414
Common stock of $.10 par value:
Additional paid-in capital	150,428	149,928
Retained earnings	1,338,595	1,331,911
Common stock held in treasury, at cost	(171,211)	(171,211)
Accumulated other comprehensive loss, net of income taxes:
Foreign currency translation adjustments	(442)	(1,822)
Funded status of benefit plans	(473,809)	(477,994)
Total accumulated other comprehensive loss, net of income taxes	(474,251)	(479,816)
Total New York Times Company stockholders’ equity	860,600	847,815
Noncontrolling interest	(3,637)	(3,571)
Total stockholders’ equity	856,963	844,244
Total liabilities and stockholders’ equity	2,170,226	2,185,395
Class A Common Stock
Common stock of $.10 par value:
Common stock value	16,958	16,921
Class B Common Stock
Common stock of $.10 par value:
Common stock value	$ 81	$ 82

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 26, 2017	Dec. 25, 2016
Accounts receivable, allowances	$ 15,910	$ 16,815
Accumulated depreciation and amortization	$ 917,617	$ 903,736
Common stock, par value (USD per share)	$ 0.1	$ 0.1
Class A Common Stock
Authorized shares (in shares)	300,000,000	300,000,000
Issued shares (in shares)	169,580,736	169,206,879
Treasury shares (in shares)	8,870,801	8,870,801
Class B Common Stock
Authorized shares (in shares)	812,757	816,632
Issued shares (in shares)	812,757	816,632
Treasury shares (in shares)	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Revenues
Circulation	$ 242,375	$ 217,994
Advertising	130,028	139,680
Other	26,401	21,841
Total revenues	398,804	379,515
Production costs:
Wages and benefits	90,778	92,471
Raw materials	16,930	17,875
Other	45,528	47,516
Total production costs	153,236	157,862
Selling, general and administrative costs	198,004	178,246
Depreciation and amortization	16,153	15,472
Total operating costs	367,393	351,580
Headquarters redesign and consolidation	2,402	0
Operating profit	29,009	27,935
Income/(loss) from joint ventures	173	(41,896)
Interest expense, net	5,325	8,826
Income/(loss) from continuing operations before income taxes	23,857	(22,787)
Income tax expense/(benefit)	10,742	(9,201)
Net income/(loss)	13,115	(13,586)
Net loss attributable to the noncontrolling interest	66	5,315
Net income/(loss) attributable to The New York Times Company common stockholders	$ 13,181	$ (8,271)
Average number of common shares outstanding:
Basic (in shares)	161,402	161,003
Diluted (in shares)	162,592	161,003
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders (in USD per share)	$ 0.08	$ (0.05)
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders (in USD per share)	0.08	(0.05)
Dividends declared per share (USD per share)	$ 0.04	$ 0.04

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 13,115	$ (13,586)
Other comprehensive income, before tax:
Income on foreign currency translation adjustments	2,175	1,642
Pension and postretirement benefits obligation	6,921	6,552
Other comprehensive income, before tax	9,096	8,194
Income tax expense	3,531	3,103
Other comprehensive income, net of tax	5,565	5,091
Comprehensive income/(loss)	18,680	(8,495)
Comprehensive loss attributable to the noncontrolling interest	66	5,315
Comprehensive income/(loss) attributable to The New York Times Company common stockholders	$ 18,746	$ (3,180)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Cash flows from operating activities
Net income/(loss)	$ 13,115	$ (13,586)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,153	15,472
Stock-based compensation expense	3,958	2,931
Undistributed (income)/loss of joint ventures	(173)	41,896
Long-term retirement benefit obligations	(6,458)	(6,886)
Uncertain tax positions	80	460
Other-net	1,708	2,882
Changes in operating assets and liabilities:
Accounts receivable-net	20,442	37,162
Other current assets	442	(1,808)
Accounts payable, accrued payroll and other liabilities	(34,995)	(94,399)
Unexpired subscriptions	15,859	3,867
Net cash provided by/(used in) operating activities	30,131	(12,009)
Cash flows from investing activities
Purchases of marketable securities	(80,108)	(34,912)
Maturities of marketable securities	117,465	143,965
Cash distribution from corporate-owned life insurance	0	38,000
Business acquisitions	0	(12,250)
Change in restricted cash	(15)	(470)
Capital expenditures	(8,032)	(10,542)
Other-net	510	(1,026)
Net cash provided by investing activities	29,820	122,765
Cash flows from financing activities
Repayment of debt and capital lease obligations	(138)	(138)
Dividends paid	(6,473)	(6,461)
Stock issuances	445	0
Repurchases	0	(15,684)
Share-based compensation tax withholding	(3,726)	(8,675)
Net cash used in financing activities	(9,892)	(30,958)
Net increase in cash and cash equivalents	50,059	79,798
Effect of exchange rate changes on cash	213	119
Cash and cash equivalents at the beginning of the period	100,692	105,776
Cash and cash equivalents at the end of the period	$ 150,964	$ 185,693

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 26, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION In the opinion of management of The New York Times Company (the “Company”), the Condensed Consolidated Financial Statements present fairly the financial position of the Company as of March 26, 2017 and December 25, 2016 , and the results of operations and cash flows of the Company for the periods ended March 26, 2017 and March 27, 2016 . The Company and its consolidated subsidiaries are referred to collectively as “we,” “us” or “our.” All adjustments necessary for a fair presentation have been included and are of a normal and recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The financial statements were prepared in accordance with the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain notes or other financial information that are normally required by accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from these interim financial statements. These financial statements, therefore, should be read in conjunction with the Consolidated Financial Statements and related Notes included in our Annual Report on Form 10-K for the year ended December 25, 2016 . Due to the seasonal nature of our business, operating results for the interim periods are not necessarily indicative of a full year’s operations. The fiscal periods included herein comprise 13 weeks for the first quarter. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in our Condensed Consolidated Financial Statements. Actual results could differ from these estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 26, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Except as described herein, as of March 26, 2017 , our significant accounting policies, which are detailed in our Annual Report on Form 10-K for the year ended December 25, 2016 , have not changed materially. Recently Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Compensation-Stock Compensation,” which provides guidance on accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This guidance became effective for the Company for fiscal years beginning after December 25, 2016. Upon adoption of ASU 2016-09, we recognized excess tax shortfalls in income tax expense rather than additional paid-in capital of $1.5 million for the first quarter of 2017. Excess tax shortfalls and/or windfalls for share-based payments are now included in net cash from operating activities rather than net cash from financing activities. The changes have been applied prospectively in accordance with the ASU and prior periods have not been adjusted. Additionally, the presentation of employee taxes paid to taxing authorities for share-based transactions are now included in net cash from financing activities rather than net cash from operating activities. This change was applied retrospectively and as a result, we reclassified $8.7 million for the first quarter of 2016 in our Condensed Statement of Cash Flows from operating activities to financing activities. No other material changes resulted from the adoption of this standard. Recently Issued Accounting Pronouncements In March 2017, the FASB issued ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The new guidance requires the service cost component to be presented separately from the other components of net benefit costs. Service cost will be presented with other employee compensation cost within operations. The other components of net benefit cost, such as interest cost, amortization of prior service cost and gains or losses are required to be presented outside of operations. The new guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The guidance should be applied retrospectively for the presentation of the service cost component in the income statement and allows a practical expedient for the estimation basis for applying the retrospective presentation requirements. We are currently in the process of evaluating the impact of this guidance on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases,” which provides guidance on accounting for leases and disclosure of key information about leasing arrangements. The guidance requires lessees to recognize the following for all operating and finance leases at the commencement date: (1) a lease liability, which is the obligation to make lease payments arising from a lease, measured on a discounted basis and (2) a right-of-use asset representing the lessee’s right to use, or control the use of, the underlying asset for the lease term. A lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities for short-term leases with a term of 12 months or less. The guidance does not fundamentally change lessor accounting; however, some changes have been made to align that guidance with the lessee guidance and other areas within GAAP. This guidance becomes effective for the Company for fiscal years beginning after December 30, 2018. Early application is permitted. This guidance will be applied on a modified retrospective basis for leases existing at, or entered into after, the earliest period presented in the financial statements. We are currently in the process of evaluating the impact of the new leasing guidance and expect that most of our operating lease commitments will be subject to the new standard. The adoption of the standard will require us to add right-of-use assets and lease liabilities onto our balance sheet. Based upon our initial evaluation, we do not expect the adoption of the standard to have a material effect on our results of operations and liquidity. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which prescribes a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers. The new guidance will supersede virtually all existing revenue guidance under GAAP and International Financial Reporting Standards and is effective for fiscal years beginning after December 31, 2017. There are two transition options available to entities: the full retrospective approach or the modified retrospective approach. Under the full retrospective approach, the Company would restate prior periods in compliance with Accounting Standards Codification 250, “Accounting Changes and Error Corrections.” Alternatively, the Company may elect the modified retrospective approach, which allows for the new revenue standard to be applied to existing contracts as of the effective date with a cumulative catch-up adjustment recorded to retained earnings. We currently anticipate adopting the new standard using the modified retrospective method beginning January 1, 2018. Subsequently, in March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” which clarifies the implementation guidance on principal versus agent considerations in ASU 2014-09. In April 2016, the FASB also issued ASU 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing,” to reduce the cost and complexity of applying the guidance on identifying promised goods or services when identifying a performance obligation and improve the operability and understandability of the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients,” to reduce the cost and complexity of applying the guidance to address certain issues on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition. The amendments in ASU 2014-09, 2016-10, and 2016-12 do not change the core principle of ASU 2014-09. Based upon our initial evaluation, we do not expect the adoption of the standard to have a material effect on our financial condition or results of operations. While we continue to evaluate the impact of the new revenue guidance, we currently believe that the most significant changes will be primarily related to how we account for certain licensing arrangements in the other revenue category. However, preliminary assessments may be subject to change. The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 26, 2017
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	MARKETABLE SECURITIES Our marketable debt securities consisted of the following: (In thousands) March 26, 2017 December 25, 2016 Short-term marketable securities U.S Treasury securities $ 123,547 $ 150,623 Corporate debt securities 154,255 150,599 U.S. governmental agency securities 56,079 64,135 Commercial paper 58,368 84,178 Total short-term marketable securities $ 392,249 $ 449,535 Long-term marketable securities U.S. governmental agency securities $ 115,690 $ 110,732 Corporate debt securities 52,799 61,775 U.S Treasury securities 40,842 14,792 Total long-term marketable securities $ 209,331 $ 187,299 As of March 26, 2017 , our short-term and long-term marketable securities had remaining maturities of less than 1 month to 12 months and 13 months to 36 months , respectively. See Note 8 for additional information regarding the fair value of our marketable securities.

Goodwill and Intangibles

Goodwill and Intangibles	3 Months Ended
	Mar. 26, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLES During the first and third quarters of 2016, the Company acquired two digital marketing agencies, HelloSociety, LLC and Fake Love, LLC for an aggregate of $15.4 million in all-cash transactions. During the fourth quarter of 2016, the Company acquired Submarine Leisure Club, Inc., which owns the product review and recommendation websites The Wirecutter and The Sweethome, in an all-cash transaction. We paid $25.0 million , including a payment made for a non-compete agreement. In connection with the transaction, we also entered into a consulting agreement and retention agreements that will likely require payments over the three years following the acquisition. The Company allocated the purchase prices based on the final valuation of assets acquired and liabilities assumed, resulting in allocations to goodwill, intangibles, property, plant and equipment and other miscellaneous assets. The aggregate carrying amount of intangible assets of $9.6 million related to these acquisitions has been included in “Miscellaneous Assets” in our Condensed Consolidated Balance Sheets. The estimated useful lives for these assets range from 3 to 7 years and are amortized on a straight-line basis. The changes in the carrying amount of goodwill as of March 26, 2017 , and since December 25, 2016 , were as follows: (In thousands) Total Company Balance as of December 25, 2016 $ 134,517 Measurement period adjustment (1) (198 ) Foreign currency translation 2,072 Balance as of March 26, 2017 $ 136,391 (1) Includes measurement period adjustment in connection with Submarine Leisure Club, Inc. acquisition. The foreign currency translation line item reflects changes in goodwill resulting from fluctuating exchange rates related to the consolidation of certain international subsidiaries.

Investments

Investments	3 Months Ended
	Mar. 26, 2017
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Equity Method Investments As of March 26, 2017 , our investments in joint ventures of $16.5 million consisted of equity ownership interests in the following entities: Company Approximate % Ownership Donohue Malbaie Inc. 49 % Madison Paper Industries 40 % Women in the World Media, LLC 30 % We have investments in Donohue Malbaie Inc. (“Malbaie”), a Canadian newsprint company, Madison Paper Industries (“Madison”), a partnership that previously operated a supercalendered paper mill in Maine, and Women in the World Media, LLC, a live-event conference business. The Company and UPM-Kymmene Corporation (“UPM”), a Finnish paper manufacturing company, are partners through subsidiary companies in Madison. The Company’s 40% ownership of Madison is through an 80% -owned consolidated subsidiary which owns 50% of Madison. UPM owns 60% of Madison, including a 10% interest through a 20% noncontrolling interest in the consolidated subsidiary of the Company. In March 2016, UPM announced the closure of the paper mill, which occurred in May 2016. During the first quarter of 2016, we recognized $41.4 million loss from joint ventures related to the announced closure of the paper mill. Our proportionate share of the loss is reduced by the 20% noncontrolling interest. As a result of the mill closure, we wrote our investment down to zero and recorded a liability of $28.8 million , reflecting our share of the losses incurred to date by Madison. These amounts are presented in “Accrued expenses and other” in our Condensed Consolidated Balance Sheets. The Company’s joint venture in Madison is currently being liquidated. In the fourth quarter of 2016, Madison sold certain assets at the mill site and we recognized a gain of $3.9 million related to the sale. In April 2017, Madison entered into an agreement to sell the remaining assets at the mill site (consisting of hydro power assets). We expect the sale of the hydro power assets to be completed later this year and we believe the proceeds from the sale will be more than sufficient to cover Madison’s obligations and therefore allow us to reverse our liability at that time. We received no distributions from our equity method investments during the the first quarters of 2017 and 2016 . We purchase newsprint from Malbaie, and previously purchased supercalendered paper from Madison, at competitive prices. Such purchases totaled approximately $3 million in the first quarters of 2017 and 2016 . The following table presents summarized income statement information for Madison, which follows a calendar year: For the Quarters Ended (In thousands) March 31, 2017 March 31, 2016 Revenues $ — $ 25,179 Costs and expenses: Cost of sales (1,054 ) (48,935 ) General and administrative (26 ) (63,101 ) (1,080 ) (112,036 ) Operating loss (1,080 ) (86,857 ) Other (expense)/income (2 ) 1 Net loss $ (1,082 ) $ (86,856 ) Cost Method Investments The aggregate carrying amounts of cost method investments included in “Miscellaneous assets’’ in our Condensed Consolidated Balance Sheets were $13.7 million and $13.6 million for March 26, 2017 and December 25, 2016 , respectively.

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 26, 2017
Debt Disclosure [Abstract]
Debt Obligations	EBT OBLIGATIONS Our current indebtedness consisted of the repurchase option related to a sale-leaseback of a portion of our New York headquarters. Our total debt and capital lease obligations consisted of the following: (In thousands) March 26, 2017 December 25, 2016 Option to repurchase ownership interest in headquarters building in 2019: Principal amount 250,000 250,000 Less unamortized discount based on imputed interest rate of 13.0% 9,001 9,801 Total option to repurchase ownership interest in headquarters building in 2019 240,999 240,199 Capital lease obligations 6,786 6,779 Total debt and capital lease obligations 247,785 246,978 Total long-term debt and capital lease obligations $ 247,785 $ 246,978 See Note 8 for additional information regarding the fair value of our long-term debt. “Interest expense, net,” as shown in the accompanying Condensed Consolidated Statements of Operations was as follows: For the Quarters Ended (In thousands) March 26, 2017 March 27, 2016 Interest expense $ 6,864 $ 9,922 Amortization of debt costs and discount on debt 800 1,253 Capitalized interest (220 ) (116 ) Interest income (2,119 ) (2,233 ) Total interest expense, net $ 5,325 $ 8,826

Other

Other	3 Months Ended
	Mar. 26, 2017
Other Income and Expenses [Abstract]
Other	OTHER Advertising Expenses Advertising expenses incurred to promote our consumer and marketing services were $33.6 million and $21.1 million in the first quarters of 2017 and 2016 , respectively. Capitalized Computer Software Costs Amortization of capitalized computer software costs included in “Depreciation and amortization” in our Condensed Consolidated Statements of Operations was $3.1 million and $3.0 million in the first quarters of 2017 and 2016 , respectively. Headquarters Redesign and Consolidation In December 2016, we announced plans to redesign our headquarters building, consolidate our space within a smaller number of floors and lease the remaining floors to third parties. During the first quarter of 2017 , we incurred $2.4 million of total costs related to these measures. Severance Costs We recognized severance costs of $1.6 million and $3.6 million in the first quarters of 2017 and 2016 , respectively. These costs are recorded in “Selling, general and administrative costs” in our Condensed Consolidated Statements of Operations. We had a severance liability of $14.4 million and $23.2 million included in “Accrued expenses and other” in our Condensed Consolidated Balance Sheets as of March 26, 2017 , and December 25, 2016 , respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 26, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is the price that would be received upon the sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. The transaction would be in the principal or most advantageous market for the asset or liability, based on assumptions that a market participant would use in pricing the asset or liability. The fair value hierarchy consists of three levels: Level 1–quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; Level 2–inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3–unobservable inputs for the asset or liability. Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis The following table summarizes our financial liabilities measured at fair value on a recurring basis as of March 26, 2017 and December 25, 2016 : (In thousands) March 26, 2017 December 25, 2016 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Deferred compensation $ 26,699 $ 26,699 $ — $ — $ 31,006 $ 31,006 $ — $ — The deferred compensation liability, included in “Other liabilities—Other” in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), which enables certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015. Financial Instruments Disclosed, But Not Reported, at Fair Value Our marketable securities, which include U.S. Treasury securities, corporate debt securities, U.S. government agency securities, municipal securities, certificates of deposit and commercial paper, are recorded at amortized cost (see Note 3). As of March 26, 2017 and December 25, 2016 , the amortized cost approximated fair value because of the short-term maturity and highly liquid nature of these investments. We classified these investments as Level 2 since the fair value estimates are based on market observable inputs for investments with similar terms and maturities. The carrying value of our long-term debt was approximately $241 million as of March 26, 2017 and approximately $240 million as of December 25, 2016 . The fair value of our long-term debt was approximately $293 million and $298 million as of March 26, 2017 and December 25, 2016 , respectively. We estimate the fair value of our debt utilizing market quotations for debt that have quoted prices in active markets. Since our debt does not trade on a daily basis in an active market, the fair value estimates are based on market observable inputs based on borrowing rates currently available for debt with similar terms and average maturities (Level 2).

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 26, 2017
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits	PENSION AND OTHER POSTRETIREMENT BENEFITS Pension Single-Employer Plans We sponsor several single-employer defined benefit pension plans, the majority of which have been frozen. We also participate in two joint Company and Guild-sponsored defined benefit pension plans covering employees who are members of The NewsGuild of New York, including The Newspaper Guild of New York - The New York Times Pension Fund, which was frozen in 2012 and replaced by a successor plan, The Guild-Times Adjustable Pension Plan. The components of net periodic pension cost were as follows: For the Quarters Ended March 26, 2017 March 27, 2016 (In thousands) Qualified Plans Non- Qualified Plans All Plans Qualified Plans Non- Qualified Plans All Plans Service cost $ 2,423 $ — $ 2,423 $ 2,247 $ — $ 2,247 Interest cost 15,594 1,956 17,550 16,574 2,034 18,608 Expected return on plan assets (26,136 ) — (26,136 ) (27,790 ) — (27,790 ) Amortization of actuarial loss 7,353 1,088 8,441 7,069 1,053 8,122 Amortization of prior service credit (486 ) — (486 ) (486 ) — (486 ) Net periodic pension (income)/cost $ (1,252 ) $ 3,044 $ 1,792 $ (2,386 ) $ 3,087 $ 701 During the first quarters of 2017 and 2016 , we made pension contributions of $2.0 million and $2.1 million , respectively, to certain qualified pension plans. We expect contributions to total approximately $8 million to satisfy funding requirements in 2017 . Other Postretirement Benefits The components of net periodic postretirement benefit income were as follows: For the Quarters Ended (In thousands) March 26, 2017 March 27, 2016 Service cost $ 92 $ 104 Interest cost 470 495 Amortization of actuarial loss 905 1,026 Amortization of prior service credit (1,939 ) (2,110 ) Net periodic postretirement benefit income $ (472 ) $ (485 )

Income Taxes

Income Taxes	3 Months Ended
	Mar. 26, 2017
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company had income tax expense of $10.7 million in the first quarter of 2017 compared to an income tax benefit of $9.2 million in the first quarter of 2016 . The increase in income tax expense was primarily due to higher income from continuing operations in the first quarter of 2017 . Income tax expense also increased as a result of the Company’s recent adoption of ASU 2016-09 in the first quarter of 2017 . See Note 2 for information regarding ASU 2016-09.

Earnings_(Loss) Per Share

Earnings/(Loss) Per Share	3 Months Ended
	Mar. 26, 2017
Earnings Per Share [Abstract]
Earnings/(Loss) Per Share	EARNINGS/(LOSS) PER SHARE We compute earnings/(loss) per share using a two-class method, an earnings allocation method used when a company’s capital structure includes either two or more classes of common stock or common stock and participating securities. This method determines earnings/(loss) per share based on dividends declared on common stock and participating securities (i.e., distributed earnings), as well as participation rights of participating securities in any undistributed earnings. Earnings/(loss) per share is computed using both basic shares and diluted shares. The difference between basic and diluted shares is that diluted shares include the dilutive effect of the assumed exercise of outstanding securities. Our stock options, stock-settled long-term performance awards and restricted stock units could have the most significant impact on diluted shares. Securities that could potentially be dilutive are excluded from the computation of diluted earnings per share when a loss from continuing operations exists or when the exercise price exceeds the market value of our Class A Common Stock, because their inclusion would result in an anti-dilutive effect on per share amounts. The number of stock options excluded from the computation of diluted earnings per share because they were anti-dilutive was approximately 2 million in the first quarter of 2017 and approximately 6 million in the first quarter of 2016 . The number of restricted stock units and long-term incentive compensation stock-settled awards excluded from the computation of diluted earnings per share because they were anti-dilutive was approximately 1 million in the first quarter of 2017 and approximately 2 million for the first quarter of 2016.

Supplemental Stockholders' Equi

Supplemental Stockholders' Equity Information	3 Months Ended
	Mar. 26, 2017
Equity [Abstract]
Supplemental Stockholders' Equity Information	SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION Stockholders’ equity is summarized as follows: (In thousands) Total New York Times Company Stockholders’ Equity Noncontrolling Interest Total Stockholders’ Equity Balance as of December 25, 2016 $ 847,815 $ (3,571 ) $ 844,244 Net income/(loss) 13,181 (66 ) 13,115 Other comprehensive income, net of tax 5,565 — 5,565 Effect of issuance of shares (3,281 ) — (3,281 ) Dividends declared (6,495 ) — (6,495 ) Stock-based compensation 3,815 — 3,815 Balance as of March 26, 2017 $ 860,600 $ (3,637 ) $ 856,963 (In thousands) Total New York Times Company Stockholders’ Equity Noncontrolling Interest Total Stockholders’ Equity Balance as of December 27, 2015 $ 826,751 $ 1,704 $ 828,455 Net loss (8,271 ) (5,315 ) (13,586 ) Other comprehensive income, net of tax 5,091 — 5,091 Effect of issuance of shares (8,675 ) — (8,675 ) Share repurchases (15,056 ) — (15,056 ) Dividends declared (6,443 ) — (6,443 ) Stock-based compensation 3,294 — 3,294 Balance as of March 27, 2016 $ 796,691 $ (3,611 ) $ 793,080 On January 14, 2015, the Board of Directors approved an authorization of $101.1 million to repurchase shares of the Company’s Class A Common Stock. As of March 26, 2017 , the Company had repurchased 6,690,905 Class A shares under this authorization for a cost of $84.9 million (excluding commissions) and $16.2 million remained. Our Board of Directors has authorized us to purchase shares under this authorization from time to time, subject to market conditions and other factors. There is no expiration date with respect to this authorization. The following table summarizes the changes in AOCI by component as of March 26, 2017 : (In thousands) Foreign Currency Translation Adjustments Funded Status of Benefit Plans Total Accumulated Other Comprehensive Loss Balance as of December 25, 2016 $ (1,822 ) $ (477,994 ) $ (479,816 ) Other comprehensive income before reclassifications, before tax (1) 2,175 — 2,175 Amounts reclassified from accumulated other comprehensive loss, before tax (1) — 6,921 6,921 Income tax expense (1) 795 2,736 3,531 Net current-period other comprehensive income, net of tax 1,380 4,185 5,565 Balance as of March 26, 2017 $ (442 ) $ (473,809 ) $ (474,251 ) (1) All amounts are shown net of noncontrolling interest. The following table summarizes the reclassifications from AOCI for the first quarter of 2017 : (In thousands) Detail about accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affect line item in the statement where net income is presented Funded status of benefit plans: Amortization of prior service credit (1) $ (2,425 ) Selling, general & administrative costs Amortization of actuarial loss (1) 9,346 Selling, general & administrative costs Total reclassification, before tax (2) 6,921 Income tax expense 2,736 Income tax (benefit)/expense Total reclassification, net of tax $ 4,185 (1) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost for pension and other retirement benefits. See Note 9 for additional information. (2) There were no reclassifications relating to noncontrolling interest for the quarter ended March 26, 2017 .

Segment Information

Segment Information	3 Months Ended
	Mar. 26, 2017
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We have one reportable segment that includes The New York Times, NYTimes.com and related businesses. Therefore, all required segment information can be found in the Condensed Consolidated Financial Statements. Our operating segment generated revenues principally from circulation and advertising. Other revenues consist primarily of revenues from news services/syndication, digital archives, building rental income, our NYT Live business, e-commerce and affiliate referrals.

Contingent Liabilities

Contingent Liabilities	3 Months Ended
	Mar. 26, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	CONTINGENT LIABILITIES Restricted Cash We were required to maintain $24.9 million of restricted cash as of March 26, 2017 and December 25, 2016 , the majority of which is set aside to collateralize workers’ compensation obligations. Newspaper and Mail Deliverers–Publishers’ Pension Fund In September 2013, the Newspaper and Mail Deliverers-Publishers’ Pension Fund (the “NMDU Fund”) assessed a partial withdrawal liability against the Company in the amount of approximately $26 million for the plan years ending May 31, 2012 and 2013 (the “Initial Assessment”), an amount that was increased to approximately $34 million in December 2014, when the NMDU Fund issued a revised partial withdrawal liability assessment for the plan year ending May 31, 2013 (the “Revised Assessment”). The NMDU Fund claimed that when City & Suburban Delivery Systems, Inc., a retail and newsstand distribution subsidiary of the Company and the largest contributor to the NMDU Fund, ceased operations in 2009, it triggered a decline of more than 70% in contribution base units in each of these two plan years. The Company disagreed with both the NMDU Fund’s determination that a partial withdrawal occurred and the methodology by which it calculated the withdrawal liability, and the parties engaged in arbitration proceedings to resolve the matter. On June 14, 2016, the arbitrator issued an interim award and opinion that supported the NMDU Fund’s determination that a partial withdrawal had occurred, including concluding that the methodology used to calculate the Initial Assessment was correct. However, the arbitrator also concluded that the NMDU Fund’s calculation of the Revised Assessment was incorrect. The Company expects to appeal the arbitrator’s decision following the issuance of the final opinion and award. Due to requirements of the Employee Retirement Income Security Act of 1974 that sponsors make payments demanded by plans during arbitration and any resultant appeals, the Company had been making payments to the NMDU fund since September 2013 relating to the Initial Assessment and February 2015 relating to the Revised Assessment based on the NMDU Fund’s demand. As a result, as of March 26, 2017, we have paid $12.6 million relating to the Initial Assessment since the receipt of the initial demand letter. We also paid $5.0 million related to the Revised Assessment, which was refunded in July 2016 based on the arbitrator’s ruling. The Company recognized $0.1 million and $1.8 million of expense for the first quarters of 2017 and 2016, respectively. As a result of the interim opinion and award relating to the Initial Assessment, the Company had a liability of $8.9 million as of March 26, 2017 . Management believes it is reasonably possible that the total loss in this matter could exceed the liability established by a range of zero to approximately $10 million . NEMG T&G, Inc. The Company has been involved in class action litigation brought on behalf of individuals who, from 2006 to 2011, delivered newspapers at NEMG T&G, Inc., a subsidiary of the Company (“T&G”). T&G was a part of the New England Media Group, which the Company sold in 2013. The plaintiffs asserted several claims against T&G, including a challenge to their classification as independent contractors, and sought unspecified damages. In December 2016, the Company reached a settlement with respect to the claims. This settlement remains subject to court approval. As a result of the settlement, the Company recorded a charge of $3.7 million in the fourth quarter of 2016 within discontinued operations. Other We are involved in various legal actions incidental to our business that are now pending against us. These actions are generally for amounts greatly in excess of the payments, if any, that may be required to be made. Although the Company cannot predict the outcome of these matters, it is possible that an unfavorable outcome in one or more matters could be material to the Company’s consolidated results of operations or cash flows for an individual reporting period. However, based on currently available information, management does not believe that the ultimate resolution of these matters, individually or in the aggregate, is likely to have a material effect on the Company’s financial position.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 26, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENT In April 2017, Madison entered into an agreement to sell the remaining assets at its mill site (consisting of hydro power assets). We expect this sale to be completed later this year. See Note 5 for more information on the Company’s investment in Madison.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 26, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Compensation-Stock Compensation,” which provides guidance on accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This guidance became effective for the Company for fiscal years beginning after December 25, 2016. Upon adoption of ASU 2016-09, we recognized excess tax shortfalls in income tax expense rather than additional paid-in capital of $1.5 million for the first quarter of 2017. Excess tax shortfalls and/or windfalls for share-based payments are now included in net cash from operating activities rather than net cash from financing activities. The changes have been applied prospectively in accordance with the ASU and prior periods have not been adjusted. Additionally, the presentation of employee taxes paid to taxing authorities for share-based transactions are now included in net cash from financing activities rather than net cash from operating activities. This change was applied retrospectively and as a result, we reclassified $8.7 million for the first quarter of 2016 in our Condensed Statement of Cash Flows from operating activities to financing activities. No other material changes resulted from the adoption of this standard. Recently Issued Accounting Pronouncements In March 2017, the FASB issued ASU 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The new guidance requires the service cost component to be presented separately from the other components of net benefit costs. Service cost will be presented with other employee compensation cost within operations. The other components of net benefit cost, such as interest cost, amortization of prior service cost and gains or losses are required to be presented outside of operations. The new guidance is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The guidance should be applied retrospectively for the presentation of the service cost component in the income statement and allows a practical expedient for the estimation basis for applying the retrospective presentation requirements. We are currently in the process of evaluating the impact of this guidance on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases,” which provides guidance on accounting for leases and disclosure of key information about leasing arrangements. The guidance requires lessees to recognize the following for all operating and finance leases at the commencement date: (1) a lease liability, which is the obligation to make lease payments arising from a lease, measured on a discounted basis and (2) a right-of-use asset representing the lessee’s right to use, or control the use of, the underlying asset for the lease term. A lessee is permitted to make an accounting policy election not to recognize lease assets and lease liabilities for short-term leases with a term of 12 months or less. The guidance does not fundamentally change lessor accounting; however, some changes have been made to align that guidance with the lessee guidance and other areas within GAAP. This guidance becomes effective for the Company for fiscal years beginning after December 30, 2018. Early application is permitted. This guidance will be applied on a modified retrospective basis for leases existing at, or entered into after, the earliest period presented in the financial statements. We are currently in the process of evaluating the impact of the new leasing guidance and expect that most of our operating lease commitments will be subject to the new standard. The adoption of the standard will require us to add right-of-use assets and lease liabilities onto our balance sheet. Based upon our initial evaluation, we do not expect the adoption of the standard to have a material effect on our results of operations and liquidity. In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which prescribes a single comprehensive model for entities to use in the accounting for revenue arising from contracts with customers. The new guidance will supersede virtually all existing revenue guidance under GAAP and International Financial Reporting Standards and is effective for fiscal years beginning after December 31, 2017. There are two transition options available to entities: the full retrospective approach or the modified retrospective approach. Under the full retrospective approach, the Company would restate prior periods in compliance with Accounting Standards Codification 250, “Accounting Changes and Error Corrections.” Alternatively, the Company may elect the modified retrospective approach, which allows for the new revenue standard to be applied to existing contracts as of the effective date with a cumulative catch-up adjustment recorded to retained earnings. We currently anticipate adopting the new standard using the modified retrospective method beginning January 1, 2018. Subsequently, in March 2016, the FASB issued ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” which clarifies the implementation guidance on principal versus agent considerations in ASU 2014-09. In April 2016, the FASB also issued ASU 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing,” to reduce the cost and complexity of applying the guidance on identifying promised goods or services when identifying a performance obligation and improve the operability and understandability of the licensing implementation guidance. In May 2016, the FASB issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow Scope Improvements and Practical Expedients,” to reduce the cost and complexity of applying the guidance to address certain issues on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications at transition. The amendments in ASU 2014-09, 2016-10, and 2016-12 do not change the core principle of ASU 2014-09. Based upon our initial evaluation, we do not expect the adoption of the standard to have a material effect on our financial condition or results of operations. While we continue to evaluate the impact of the new revenue guidance, we currently believe that the most significant changes will be primarily related to how we account for certain licensing arrangements in the other revenue category. However, preliminary assessments may be subject to change. The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 26, 2017
Investments, Debt and Equity Securities [Abstract]
Marketable Debt and Equity Securities	Our marketable debt securities consisted of the following: (In thousands) March 26, 2017 December 25, 2016 Short-term marketable securities U.S Treasury securities $ 123,547 $ 150,623 Corporate debt securities 154,255 150,599 U.S. governmental agency securities 56,079 64,135 Commercial paper 58,368 84,178 Total short-term marketable securities $ 392,249 $ 449,535 Long-term marketable securities U.S. governmental agency securities $ 115,690 $ 110,732 Corporate debt securities 52,799 61,775 U.S Treasury securities 40,842 14,792 Total long-term marketable securities $ 209,331 $ 187,299

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	3 Months Ended
	Mar. 26, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill balances	The changes in the carrying amount of goodwill as of March 26, 2017 , and since December 25, 2016 , were as follows: (In thousands) Total Company Balance as of December 25, 2016 $ 134,517 Measurement period adjustment (1) (198 ) Foreign currency translation 2,072 Balance as of March 26, 2017 $ 136,391 (1) Includes measurement period adjustment in connection with Submarine Leisure Club, Inc. acquisition.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 26, 2017
Schedule of Equity Method Investments [Line Items]
Schedule and summarized unaudited condensed combined income statements of equity method investments	As of March 26, 2017 , our investments in joint ventures of $16.5 million consisted of equity ownership interests in the following entities: Company Approximate % Ownership Donohue Malbaie Inc. 49 % Madison Paper Industries 40 % Women in the World Media, LLC 30 %
Madison Paper Industries
Schedule of Equity Method Investments [Line Items]
Schedule and summarized unaudited condensed combined income statements of equity method investments	The following table presents summarized income statement information for Madison, which follows a calendar year: For the Quarters Ended (In thousands) March 31, 2017 March 31, 2016 Revenues $ — $ 25,179 Costs and expenses: Cost of sales (1,054 ) (48,935 ) General and administrative (26 ) (63,101 ) (1,080 ) (112,036 ) Operating loss (1,080 ) (86,857 ) Other (expense)/income (2 ) 1 Net loss $ (1,082 ) $ (86,856 )

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 26, 2017
Debt Disclosure [Abstract]
Schedule of carrying value of outstanding debt	Our total debt and capital lease obligations consisted of the following: (In thousands) March 26, 2017 December 25, 2016 Option to repurchase ownership interest in headquarters building in 2019: Principal amount 250,000 250,000 Less unamortized discount based on imputed interest rate of 13.0% 9,001 9,801 Total option to repurchase ownership interest in headquarters building in 2019 240,999 240,199 Capital lease obligations 6,786 6,779 Total debt and capital lease obligations 247,785 246,978 Total long-term debt and capital lease obligations $ 247,785 $ 246,978
Schedule of components of interest expense, net	For the Quarters Ended (In thousands) March 26, 2017 March 27, 2016 Interest expense $ 6,864 $ 9,922 Amortization of debt costs and discount on debt 800 1,253 Capitalized interest (220 ) (116 ) Interest income (2,119 ) (2,233 ) Total interest expense, net $ 5,325 $ 8,826

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 26, 2017
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes our financial liabilities measured at fair value on a recurring basis as of March 26, 2017 and December 25, 2016 : (In thousands) March 26, 2017 December 25, 2016 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Deferred compensation $ 26,699 $ 26,699 $ — $ — $ 31,006 $ 31,006 $ — $ —

Pension and Other Postretirem28

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 26, 2017
Pension Plans, Defined Benefit
Pension Benefits
Schedule of Components of Net Periodic Pension Cost and Postretirement Benefit Income	The components of net periodic pension cost were as follows: For the Quarters Ended March 26, 2017 March 27, 2016 (In thousands) Qualified Plans Non- Qualified Plans All Plans Qualified Plans Non- Qualified Plans All Plans Service cost $ 2,423 $ — $ 2,423 $ 2,247 $ — $ 2,247 Interest cost 15,594 1,956 17,550 16,574 2,034 18,608 Expected return on plan assets (26,136 ) — (26,136 ) (27,790 ) — (27,790 ) Amortization of actuarial loss 7,353 1,088 8,441 7,069 1,053 8,122 Amortization of prior service credit (486 ) — (486 ) (486 ) — (486 ) Net periodic pension (income)/cost $ (1,252 ) $ 3,044 $ 1,792 $ (2,386 ) $ 3,087 $ 701
Other Postretirement Benefit Plan
Pension Benefits
Schedule of Components of Net Periodic Pension Cost and Postretirement Benefit Income	The components of net periodic postretirement benefit income were as follows: For the Quarters Ended (In thousands) March 26, 2017 March 27, 2016 Service cost $ 92 $ 104 Interest cost 470 495 Amortization of actuarial loss 905 1,026 Amortization of prior service credit (1,939 ) (2,110 ) Net periodic postretirement benefit income $ (472 ) $ (485 )

Supplemental Stockholders' Eq29

Supplemental Stockholders' Equity Information (Tables)	3 Months Ended
	Mar. 26, 2017
Equity [Abstract]
Schedule of changes in stockholders' equity	Stockholders’ equity is summarized as follows: (In thousands) Total New York Times Company Stockholders’ Equity Noncontrolling Interest Total Stockholders’ Equity Balance as of December 25, 2016 $ 847,815 $ (3,571 ) $ 844,244 Net income/(loss) 13,181 (66 ) 13,115 Other comprehensive income, net of tax 5,565 — 5,565 Effect of issuance of shares (3,281 ) — (3,281 ) Dividends declared (6,495 ) — (6,495 ) Stock-based compensation 3,815 — 3,815 Balance as of March 26, 2017 $ 860,600 $ (3,637 ) $ 856,963 (In thousands) Total New York Times Company Stockholders’ Equity Noncontrolling Interest Total Stockholders’ Equity Balance as of December 27, 2015 $ 826,751 $ 1,704 $ 828,455 Net loss (8,271 ) (5,315 ) (13,586 ) Other comprehensive income, net of tax 5,091 — 5,091 Effect of issuance of shares (8,675 ) — (8,675 ) Share repurchases (15,056 ) — (15,056 ) Dividends declared (6,443 ) — (6,443 ) Stock-based compensation 3,294 — 3,294 Balance as of March 27, 2016 $ 796,691 $ (3,611 ) $ 793,080
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in AOCI by component as of March 26, 2017 : (In thousands) Foreign Currency Translation Adjustments Funded Status of Benefit Plans Total Accumulated Other Comprehensive Loss Balance as of December 25, 2016 $ (1,822 ) $ (477,994 ) $ (479,816 ) Other comprehensive income before reclassifications, before tax (1) 2,175 — 2,175 Amounts reclassified from accumulated other comprehensive loss, before tax (1) — 6,921 6,921 Income tax expense (1) 795 2,736 3,531 Net current-period other comprehensive income, net of tax 1,380 4,185 5,565 Balance as of March 26, 2017 $ (442 ) $ (473,809 ) $ (474,251 ) (1) All amounts are shown net of noncontrolling interest.
Reclassification out of Accumulated Other Comprehensive Income	The following table summarizes the reclassifications from AOCI for the first quarter of 2017 : (In thousands) Detail about accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affect line item in the statement where net income is presented Funded status of benefit plans: Amortization of prior service credit (1) $ (2,425 ) Selling, general & administrative costs Amortization of actuarial loss (1) 9,346 Selling, general & administrative costs Total reclassification, before tax (2) 6,921 Income tax expense 2,736 Income tax (benefit)/expense Total reclassification, net of tax $ 4,185 (1) These accumulated other comprehensive income components are included in the computation of net periodic benefit cost for pension and other retirement benefits. See Note 9 for additional information. (2) There were no reclassifications relating to noncontrolling interest for the quarter ended March 26, 2017 .

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period Duration	91 days	91 days

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash used in financing activities	$ (9,892)	$ (30,958)
Net cash provided/(used) by operating activities	30,131	$ (12,009)
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax shortfalls for share-based payments	(1,500)
Net cash used in financing activities	8,700
Net cash provided/(used) by operating activities	$ (8,700)

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Dec. 25, 2016
Debt Securities
Schedule of Held-to-maturity Securities [Line Items]
Short-term marketable securities	$ 392,249	$ 449,535
Long-term marketable securities	209,331	187,299
Debt Securities | US Treasury Securities
Schedule of Held-to-maturity Securities [Line Items]
Short-term marketable securities	123,547	150,623
Long-term marketable securities	40,842	14,792
Debt Securities | Corporate Debt Securities
Schedule of Held-to-maturity Securities [Line Items]
Short-term marketable securities	154,255	150,599
Long-term marketable securities	52,799	61,775
Debt Securities | U.S. governmental agency securities
Schedule of Held-to-maturity Securities [Line Items]
Short-term marketable securities	56,079	64,135
Long-term marketable securities	115,690	110,732
Debt Securities | Commercial Paper
Schedule of Held-to-maturity Securities [Line Items]
Short-term marketable securities	$ 58,368	$ 84,178
Short-term Marketable Securities | Minimum
Schedule of Held-to-maturity Securities [Line Items]
Term of investments	1 month
Short-term Marketable Securities | Maximum
Schedule of Held-to-maturity Securities [Line Items]
Term of investments	12 months
Long-term Marketable Securities | Minimum
Schedule of Held-to-maturity Securities [Line Items]
Term of investments	13 months
Long-term Marketable Securities | Maximum
Schedule of Held-to-maturity Securities [Line Items]
Term of investments	36 months

Goodwill and Intangibles - Addi

Goodwill and Intangibles - Additional Information (Details) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Mar. 26, 2017USD ($)	Dec. 25, 2016USD ($)	Mar. 27, 2016USD ($)	Sep. 25, 2016USD ($)acquisition	Dec. 25, 2016USD ($)
Business Acquisition [Line Items]
Acquisition purchase price	$ 0		$ 12,250
HelloSociety, LLC and Fake Love, LLC [Member]
Business Acquisition [Line Items]
Number of businesses acquired | acquisition				2
Acquisition purchase price				$ 15,400
Submarine Leisure Club, Inc.
Business Acquisition [Line Items]
Acquisition purchase price		$ 25,000
Consulting and retention agreements, term		3 years
Miscellaneous Assets [Member]
Business Acquisition [Line Items]
Intangible assets, carrying values		$ 9,600			$ 9,600
Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets acquired					3 years
Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets acquired					7 years

Goodwill and Intangibles (Detai

Goodwill and Intangibles (Details) $ in Thousands	3 Months Ended
	Mar. 26, 2017USD ($)
Goodwill [Roll Forward]
Balance as of December 25, 2016	$ 134,517
Measurement period adjustment (1)	(198)
Foreign currency translation	2,072
Balance as of March 26, 2017	$ 136,391

Investments - Equity Method Inv

Investments - Equity Method Investments (Details) - USD ($)	3 Months Ended
	Mar. 26, 2017	Dec. 25, 2016	Mar. 27, 2016
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 16,492,000	$ 15,614,000
Loss from joint ventures	(173,000)		$ 41,896,000
Distributions received	0		0
Newsprint and supercalendered paper purchased from the Paper Mills	$ 3,000,000		3,000,000
Donohue Malbaie Inc.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.00%
Madison Paper Industries
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	40.00%
Noncontrolling interest, ownership percentage by parent	10.00%
Investment in Madison			0
Gain on sale of non-hydro power assets		$ 3,900,000
Women in the World Media, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	30.00%
Madison Paper Industries Owned Consolidated Subsidiary
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	80.00%
Noncontrolling interest, ownership percentage by parent	20.00%
Ownership of Madison Paper Industries by Consolidated Subsidiary
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	50.00%
Accrued Expenses and Other
Schedule of Equity Method Investments [Line Items]
Obligation to fund losses of equity method investment			28,800,000
UPM-Kymmene | Madison Paper Industries
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	60.00%
Paper Mill Closure | Madison Paper Industries
Schedule of Equity Method Investments [Line Items]
Loss from joint ventures			$ (41,400,000)

Investments - Madison (Details)

Investments - Madison (Details) - Madison Paper Industries - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Revenues		$ 25,179
Costs and expenses:
Cost of sales		(48,935)
General and administrative		(63,101)
Operating Expenses		(112,036)
Operating loss		(86,857)
Other (expense)/income		1
Net loss		$ (86,856)
Subsequent Event
Schedule of Equity Method Investments [Line Items]
Revenues	$ 0
Costs and expenses:
Cost of sales	(1,054)
General and administrative	(26)
Operating Expenses	(1,080)
Operating loss	(1,080)
Other (expense)/income	(2)
Net loss	$ (1,082)

Investments - Cost Method Inves

Investments - Cost Method Investments (Details) - USD ($) $ in Millions	Mar. 26, 2017	Dec. 25, 2016
Investments, Debt and Equity Securities [Abstract]
Cost method investments	$ 13.7	$ 13.6

Debt Obligations - Debt & Capit

Debt Obligations - Debt & Capital Leases (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Dec. 25, 2016
Debt Instrument [Line Items]
Total option to repurchase ownership interest in headquarters building in 2019	$ 240,999	$ 240,199
Capital lease obligations	6,786	6,779
Total debt and capital lease obligations	247,785	246,978
Total long-term debt and capital lease obligations	247,785	246,978
Option To Repurchase Headquarters Building 2019
Debt Instrument [Line Items]
Principal amount	250,000	250,000
Less unamortized discount based on imputed interest rate	$ 9,001	$ 9,801
Interest rate on debt	13.00%

Debt Obligations - Interest Exp

Debt Obligations - Interest Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Debt Disclosure [Abstract]
Interest expense	$ 6,864	$ 9,922
Amortization of debt costs and discount on debt	800	1,253
Capitalized interest	(220)	(116)
Interest income	(2,119)	(2,233)
Total interest expense, net	$ 5,325	$ 8,826

Other (Details)

Other (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Dec. 25, 2016
Other Expense [Line Items]
Advertising expense	$ 33.6	$ 21.1
Costs incurred related to redesign of headquarters building	2.4
Severance liability	14.4		$ 23.2
Selling, General and Administrative Expenses
Other Expense [Line Items]
Severance costs	1.6	3.6
Capitalized Computer Software Costs
Other Expense [Line Items]
Capitalized computer software amortization	$ 3.1	$ 3

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 26, 2017	Dec. 25, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying value of long-term debt	$ 240,999	$ 240,199
Long-term debt, fair value	293,000	298,000
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	26,699	31,006
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	0	0
Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	0	0
Fair Value | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	$ 26,699	$ 31,006

Pension Benefits - Net Periodic

Pension Benefits - Net Periodic Pension Cost (Details) $ in Thousands	3 Months Ended
	Mar. 26, 2017USD ($)plan	Mar. 27, 2016USD ($)
Pension Benefits
Number of joint Company and Guild-sponsored defined benefit plans | plan	2
Qualified Plans
Pension Benefits
Service cost	$ 2,423	$ 2,247
Interest cost	15,594	16,574
Expected return on plan assets	(26,136)	(27,790)
Amortization of actuarial loss	7,353	7,069
Amortization of prior service credit	(486)	(486)
Net periodic postretirement benefit income	(1,252)	(2,386)
Pension contributions	2,000	2,100
Non-Qualified Plans
Pension Benefits
Service cost	0	0
Interest cost	1,956	2,034
Expected return on plan assets	0	0
Amortization of actuarial loss	1,088	1,053
Amortization of prior service credit	0	0
Net periodic postretirement benefit income	3,044	3,087
Pension Plans, Defined Benefit
Pension Benefits
Service cost	2,423	2,247
Interest cost	17,550	18,608
Expected return on plan assets	(26,136)	(27,790)
Amortization of actuarial loss	8,441	8,122
Amortization of prior service credit	(486)	(486)
Net periodic postretirement benefit income	1,792	$ 701
Expected contributions in 2017	$ 8,000

Other Postretirement Benefits (

Other Postretirement Benefits (Details) - Other Postretirement Benefit Plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Pension Benefits
Service cost	$ 92	$ 104
Interest cost	470	495
Amortization of actuarial loss	905	1,026
Amortization of prior service credit	(1,939)	(2,110)
Net periodic postretirement benefit income	$ (472)	$ (485)

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Income Tax Disclosure [Abstract]
Income tax expense/(benefit)	$ 10,742	$ (9,201)

Earnings_(Loss) Per Share (Deta

Earnings/(Loss) Per Share (Details) - shares shares in Millions	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2	6
Restricted Stock Units and Long-term Incentive Compensation Stock-settled Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1	2

Supplemental Stockholders' Eq46

Supplemental Stockholders' Equity Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	$ 844,244	$ 828,455
Net income/(loss)	13,115	(13,586)
Other comprehensive income, net of tax	5,565	5,091
Effect of issuance of shares	(3,281)	(8,675)
Share repurchases		(15,056)
Dividends declared	(6,495)	(6,443)
Stock-based compensation	3,815	3,294
Balance, end of period	856,963	793,080
Total New York Times Company Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	847,815	826,751
Net income/(loss)	13,181	(8,271)
Other comprehensive income, net of tax	5,565	5,091
Effect of issuance of shares	(3,281)	(8,675)
Share repurchases		(15,056)
Dividends declared	(6,495)	(6,443)
Stock-based compensation	3,815	3,294
Balance, end of period	860,600	796,691
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(3,571)	1,704
Net income/(loss)	(66)	(5,315)
Other comprehensive income, net of tax	0	0
Effect of issuance of shares	0	0
Share repurchases		0
Dividends declared	0	0
Stock-based compensation	0	0
Balance, end of period	$ (3,637)	$ (3,611)

Supplemental Stockholders' Eq47

Supplemental Stockholders' Equity Information - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016	Jan. 14, 2015
Class of Stock [Line Items]
Share repurchases		$ 15,056,000
Stock repurchase program, remaining authorized repurchase amount	$ 16,200,000
Class A Common Stock
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 101,100,000
Shares repurchased (in shares)	6,690,905
Share repurchases	$ 84,900,000

Supplemental Stockholders' Eq48

Supplemental Stockholders' Equity Information Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 25, 2016	$ (479,816)
Income tax expense	3,531	$ 3,103
Other comprehensive income, net of tax	5,565	5,091
Balance as of March 26, 2017	(474,251)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 25, 2016	(1,822)
Other comprehensive income before reclassifications, before tax	2,175
Amounts reclassified from accumulated other comprehensive loss, before tax	0
Income tax expense	795
Other comprehensive income, net of tax	1,380
Balance as of March 26, 2017	(442)
Funded Status of Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 25, 2016	(477,994)
Other comprehensive income before reclassifications, before tax	0
Amounts reclassified from accumulated other comprehensive loss, before tax	6,921
Income tax expense	2,736
Other comprehensive income, net of tax	4,185
Balance as of March 26, 2017	(473,809)
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance as of December 25, 2016	(479,816)
Other comprehensive income before reclassifications, before tax	2,175
Amounts reclassified from accumulated other comprehensive loss, before tax	6,921
Income tax expense	3,531
Other comprehensive income, net of tax	5,565	$ 5,091
Balance as of March 26, 2017	$ (474,251)

Supplemental Stockholders' Eq49

Supplemental Stockholders' Equity Information Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 26, 2017	Mar. 27, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	$ 3,531	$ 3,103
Accumulated Defined Benefit Plans Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense	2,736
Accumulated Defined Benefit Plans Adjustment | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassification, before tax	6,921
Income tax expense	2,736
Total reclassification, net of tax	4,185
Selling, General and Administrative Expenses | Accumulated Defined Benefit Plans Adjustment | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit	(2,425)
Amortization of actuarial loss	$ 9,346

Segment Information (Details)

Segment Information (Details)	3 Months Ended
	Mar. 26, 2017Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Contingent Liabilities - Restri

Contingent Liabilities - Restricted Cash (Details) - USD ($) $ in Millions	Mar. 26, 2017	Dec. 25, 2016
Commitments and Contingencies Disclosure [Abstract]
Restricted cash	$ 24.9	$ 24.9

Contingent Liabilities - Other

Contingent Liabilities - Other (Details) - USD ($)	1 Months Ended			3 Months Ended
	Jul. 29, 2016	Dec. 31, 2014	Sep. 30, 2013	Mar. 26, 2017	Dec. 25, 2016	Mar. 27, 2016
Loss Contingencies [Line Items]
Amount paid related to Revised Assessment	$ 5,000,000
Threatened Litigation
Loss Contingencies [Line Items]
Demand for payment		$ 34,000,000	$ 26,000,000
Decline in contributions, percent (more than)			70.00%
Payments related to Initial Assessment				$ 12,600,000
Amount recognized as expense in the period				100,000		$ 1,800,000
Partial pension withdrawal arbitration liability				8,900,000
Minimum | Threatened Litigation
Loss Contingencies [Line Items]
Estimate of possible loss				0
Maximum | Threatened Litigation
Loss Contingencies [Line Items]
Estimate of possible loss				$ 10,000,000
New England Media Group [Member]
Loss Contingencies [Line Items]
Charge recorded within discontinued operations					$ 3,700,000