The New York Times Company (NYT) 10-Q 5 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 28, 2021	Apr. 30, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 28, 2021
Document Transition Report	false
Entity File Number	1-5837
Entity Registrant Name	THE NEW YORK TIMES COMPANY
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-1102020
Entity Address, Address Line One	620 Eighth Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10018
City Area Code	212
Local Phone Number	556-1234
Title of 12(b) Security	Class A Common Stock
Trading Symbol	NYT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000071691
Current Fiscal Year End Date	--12-26
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		167,079,231
Class B Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		781,724

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 27, 2020
Current assets
Cash and cash equivalents	$ 275,242	$ 286,079
Short-term marketable securities	297,454	309,080
Accounts receivable (net of allowances of $12,498 in 2021 and $13,797 in 2020)	145,170	183,692
Prepaid expenses	33,459	29,487
Other current assets	35,327	27,497
Total current assets	786,652	835,835
Other assets
Long-term marketable securities	317,988	286,831
Property, plant and equipment (less accumulated depreciation and amortization of $900,278 in 2021 and $886,149 in 2020)	587,452	594,516
Goodwill	169,295	171,657
Deferred income taxes	98,884	99,518
Miscellaneous assets	322,491	319,332
Total assets	2,282,762	2,307,689
Current liabilities
Accounts payable	102,699	123,157
Accrued payroll and other related liabilities	86,844	121,159
Unexpired subscriptions revenue	114,845	105,346
Accrued expenses and other	136,318	137,086
Total current liabilities	440,706	486,748
Other liabilities
Pension benefits obligation	322,543	326,555
Postretirement benefits obligation	37,136	38,690
Other	126,915	127,585
Total other liabilities	486,594	492,830
Common stock of $.10 par value:
Additional paid-in capital	212,802	216,714
Retained earnings	1,701,860	1,672,586
Common stock held in treasury, at cost	(171,211)	(171,211)
Accumulated other comprehensive loss, net of income taxes:
Foreign currency translation adjustments	6,407	8,386
Funded status of benefit plans	(417,010)	(421,698)
Net unrealized gain on available-for-sale securities	2,350	3,131
Total accumulated other comprehensive loss, net of income taxes	(408,253)	(410,181)
Total New York Times Company stockholders’ equity	1,352,868	1,325,517
Noncontrolling interest	2,594	2,594
Total stockholders’ equity	1,355,462	1,328,111
Total liabilities and stockholders’ equity	2,282,762	2,307,689
Class A Common Stock
Common stock of $.10 par value:
Common stock value	17,592	17,531
Class B Common Stock
Common stock of $.10 par value:
Common stock value	$ 78	$ 78

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 27, 2020
Accounts receivable, allowance for credit loss	$ 12,498	$ 13,797
Accumulated depreciation and amortization	$ 900,278	$ 886,149
Common stock, par value (in usd per share)	$ 0.10	$ 0.10
Class A Common Stock
Authorized shares (in shares)	300,000,000	300,000,000
Issued shares (in shares)	175,916,992	175,308,672
Treasury shares (in shares)	8,870,801	8,870,801
Class B Common Stock
Authorized shares (in shares)	781,724	781,724
Issued shares (in shares)	781,724	781,724

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Revenues
Total revenues	$ 473,045	$ 443,636
Operating costs
Cost of revenue (excluding depreciation and amortization)	250,997	243,484
Sales and marketing	60,153	73,784
Product development	38,943	31,002
General and administrative	56,577	52,861
Depreciation and amortization	14,717	15,185
Total operating costs	421,387	416,316
Operating profit	51,658	27,320
Other components of net periodic benefit costs	2,599	2,314
Interest income and other, net	1,511	13,854
Income from continuing operations before income taxes	50,570	38,860
Income tax expense	9,461	6,006
Net income	41,109	32,854
Net income attributable to The New York Times Company common stockholders	$ 41,109	$ 32,854
Average number of common shares outstanding:
Basic (in shares)	167,647	166,549
Diluted (in shares)	168,165	167,845
Basic earnings per share attributable to The New York Times Company common stockholders
Basic earnings per share attributable to The New York Times Company common stockholders (in usd per share)	$ 0.25	$ 0.20
Diluted earnings per share attributable to The New York Times Company common stockholders
Diluted earnings per share attributable to The New York Times Company common stockholders (in usd per share)	0.24	0.20
Dividends declared per share (in usd per share)	$ 0.07	$ 0.06
Subscription
Revenues
Total revenues	$ 329,084	$ 285,434
Advertising
Revenues
Total revenues	97,116	106,137
Other
Revenues
Total revenues	$ 46,845	$ 52,065

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 41,109	$ 32,854
Other comprehensive income, before tax:
Loss on foreign currency translation adjustments	(2,702)	(254)
Pension and postretirement benefits obligation	6,406	6,397
Net unrealized (loss)/gain on available-for-sale securities	(1,067)	715
Other comprehensive income, before tax	2,637	6,858
Income tax expense	709	1,915
Other comprehensive income, net of tax	1,928	4,943
Comprehensive income attributable to The New York Times Company common stockholders	$ 43,037	$ 37,797

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Capital Stock - Class A and Class B Common	Additional Paid-in Capital	Retained Earnings	Common Stock Held in Treasury, at Cost	Accumulated Other Comprehensive Loss, Net of Income Taxes	Total New York Times Company Stockholders’ Equity	Non- controlling Interest
Balance, beginning of period at Dec. 29, 2019	$ 1,173,863	$ 17,504	$ 208,028	$ 1,612,658	$ (171,211)	$ (494,976)	$ 1,172,003	$ 1,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	32,854			32,854			32,854
Dividends	(10,039)			(10,039)			(10,039)
Other comprehensive income	4,943					4,943	4,943
Issuance of shares:
Stock options - Class A shares	931	9	922				931
Restricted stock units vested - Class A shares	(3,609)	13	(3,622)				(3,609)
Performance-based awards - Class A shares	(7,824)	26	(7,850)				(7,824)
Stock-based compensation	2,455		2,455				2,455
Balance, end of period at Mar. 29, 2020	1,193,574	17,552	199,933	1,635,473	(171,211)	(490,033)	1,191,714	1,860
Balance, beginning of period at Dec. 27, 2020	1,328,111	17,609	216,714	1,672,586	(171,211)	(410,181)	1,325,517	2,594
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,109			41,109			41,109
Dividends	(11,835)			(11,835)			(11,835)
Other comprehensive income	1,928					1,928	1,928
Issuance of shares:
Stock options - Class A shares	2,447	33	2,414				2,447
Restricted stock units vested - Class A shares	(4,550)	14	(4,564)				(4,550)
Performance-based awards - Class A shares	(5,933)	14	(5,947)				(5,933)
Stock-based compensation	4,185		4,185				4,185
Balance, end of period at Mar. 28, 2021	$ 1,355,462	$ 17,670	$ 212,802	$ 1,701,860	$ (171,211)	$ (408,253)	$ 1,352,868	$ 2,594

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Statement of Stockholders' Equity [Abstract]
Stock options (in shares)	323,360	88,775
Restricted stock unit vested (in shares)	142,707	134,985
Performance-based awards (in shares)	142,253	257,098

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Cash flows from operating activities
Net income	$ 41,109	$ 32,854
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,717	15,185
Amortization of right of use asset	2,166	2,347
Stock-based compensation expense	4,185	2,455
Gain on non-marketable equity investment	0	(10,074)
Long-term retirement benefit obligations	(4,004)	(4,469)
Fair market value adjustment on life insurance products	208	3,469
Other – net	(1,277)	3,064
Changes in operating assets and liabilities:
Accounts receivable – net	38,522	55,722
Other assets	(3,768)	6,826
Accounts payable, accrued payroll and other liabilities	(68,428)	(79,225)
Unexpired subscriptions	9,499	10,697
Net cash provided by operating activities	32,929	38,851
Cash flows from investing activities
Purchases of marketable securities	(177,543)	(142,024)
Maturities of marketable securities	155,782	127,291
Business acquisitions	0	(8,055)
(Purchases)/sales of investments – net	(70)	2,965
Capital expenditures	(6,394)	(15,217)
Other-net	2,017	1,617
Net cash used in investing activities	(26,208)	(33,423)
Long-term obligations:
Dividends paid	(10,072)	(8,344)
Capital shares:
Proceeds from stock option exercises	2,447	931
Share-based compensation tax withholding	(10,483)	(11,432)
Net cash used in financing activities	(18,108)	(18,845)
Net decrease in cash, cash equivalents and restricted cash	(11,387)	(13,417)
Effect of exchange rate changes on cash	(341)	32
Cash, cash equivalents and restricted cash at the beginning of the period	301,964	247,518
Cash, cash equivalents and restricted cash at the end of the period	$ 290,236	$ 234,133

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 28, 2021
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 28, 2021, and December 27, 2020, and the results of operations, changes in stockholders’ equity and cash flows of the Company for the periods ended March 28, 2021, and March 29, 2020. 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 27, 2020. 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. Certain prior period amounts have been reclassified to conform with the current period presentation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 28, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Except as described herein, as of March 28, 2021, our significant accounting policies, which are detailed in our Annual Report on Form 10-K for the year ended December 27, 2020, have not changed materially. Recently Adopted Accounting Pronouncements Accounting Standard Update(s) Topic Effective Period Summary 2019-12 Simplifying the Accounting for Income Taxes (Topic 740) Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. Simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification (“ASC”) 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted this guidance on December 28, 2020. The adoption did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements

Revenue

Revenue	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE We generate revenues principally from subscriptions and advertising. Subscription revenues consist of revenues from subscriptions to our digital and print products (which include our news product, as well as our Games, Cooking and Audm products) and single-copy and bulk sales of our print products. Subscription revenues are based on both the number of copies of the printed newspaper sold and digital-only subscriptions, and the rates charged to the respective customers. Advertising revenue is principally from advertisers (such as technology, financial and luxury goods companies) promoting products, services or brands on digital platforms in the form of display ads, audio and video, and in print, in the form of column-inch ads. Advertising revenue is primarily derived from offerings sold directly to marketers by our advertising sales teams. A smaller proportion of our total advertising revenues is generated through programmatic auctions run by third-party ad exchanges. Advertising revenue is primarily determined by the volume (e.g., impressions), rate and mix of advertisements. Digital advertising includes our core digital advertising business and other digital advertising. Our core digital advertising business includes direct-sold website, mobile application, podcast, email and video advertisements. Direct-sold display advertising, a component of core digital advertising, includes offerings on websites and mobile applications sold directly to marketers by our advertising sales teams. Other digital advertising includes open-market programmatic advertising and creative services fees. Print advertising includes revenue from column-inch ads and classified advertising, including line-ads as well as preprinted advertising, also known as freestanding inserts. Other revenues primarily consist of revenues from licensing, Wirecutter affiliate referrals, the leasing of floors in the New York headquarters building located at 620 Eighth Avenue, New York, New York (the “Company Headquarters”), commercial printing, retail commerce, television and film and our live events business. Subscription, advertising and other revenues were as follows: For the Quarters Ended (In thousands) March 28, 2021 As % of total March 29, 2020 As % of total Subscription $ 329,084 69.6 % $ 285,434 64.4 % Advertising 97,116 20.5 % 106,137 23.9 % Other (1) 46,845 9.9 % 52,065 11.7 % Total $ 473,045 100.0 % $ 443,636 100.0 % (1) Other revenues includes building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was approximately $6 million and $8 million for the quarters ended March 28, 2021, and March 29, 2020, respectively. The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the quarters ended March 28, 2021, and March 29, 2020: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Digital-only subscription revenues: News product subscription revenues (1) $ 161,287 $ 118,958 Other product subscription revenues (2) 18,312 11,052 Subtotal digital-only subscriptions 179,599 130,010 Print subscription revenues: Domestic home delivery subscription revenues (3) 134,395 133,736 Single-copy, NYT International and other subscription revenues (4) 15,090 21,688 Subtotal print subscription revenues 149,485 155,424 Total subscription revenues $ 329,084 $ 285,434 (1) Includes revenues from subscriptions to the Company’s news product. News product subscription packages that include access to the Company’s Games and Cooking products are also included in this category. (2) Includes revenues from standalone subscriptions to the Company’s Games, Cooking and Audm products. (3) Includes free access to some of the Company’s digital products. (4) NYT International is the international edition of our print newspaper. The following table summarizes digital and print advertising revenues for the quarters ended March 28, 2021, and March 29, 2020: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Advertising revenues: Digital $ 59,496 $ 51,158 Print 37,620 54,979 Total advertising $ 97,116 $ 106,137 Performance Obligations We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of March 28, 2021, the aggregate amount of the transaction price allocated to the remaining performance obligations for contracts with a duration greater than one year was approximately $112 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $37 million, $34 million and $41 million will be recognized in the remainder of 2021, 2022 and thereafter, respectively. Contract Assets As of March 28, 2021, and December 27, 2020, the Company had $1.7 million and $1.8 million, respectively, in contract assets recorded in the Condensed Consolidated Balance Sheets related to digital archiving licensing revenue. The contract asset is reclassified to Accounts receivable when the customer is invoiced based on the contractual billing schedule.

Marketable Securities

Marketable Securities	3 Months Ended
	Mar. 28, 2021
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	MARKETABLE SECURITIES The Company accounts for its marketable securities as available for sale (“AFS”). The Company recorded $3.2 million and $4.3 million of net unrealized gains in Accumulated other comprehensive income (“AOCI”) as of March 28, 2021, and December 27, 2020, respectively. The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of March 28, 2021, and December 27, 2020: March 28, 2021 (In thousands) Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Short-term AFS securities Corporate debt securities $ 125,933 $ 417 $ (19) $ 126,331 Certificates of deposit 59,083 — — 59,083 U.S. Treasury securities 51,225 27 (1) 51,251 U.S. governmental agency securities 39,362 42 — 39,404 Commercial paper 21,385 — — 21,385 Total short-term AFS securities $ 296,988 $ 486 $ (20) $ 297,454 Long-term AFS securities Corporate debt securities $ 150,272 $ 1,125 $ (119) $ 151,278 U.S. Treasury securities 101,222 1,751 (8) 102,965 U.S. governmental agency securities 51,588 15 (13) 51,590 Municipal securities 12,161 1 (7) 12,155 Total long-term AFS securities $ 315,243 $ 2,892 $ (147) $ 317,988 December 27, 2020 (In thousands) Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Short-term AFS securities Corporate debt securities $ 129,805 $ 504 $ (8) $ 130,301 Certificates of deposit 36,525 — — 36,525 U.S. Treasury securities 79,467 39 (3) 79,503 U.S. governmental agency securities 25,113 61 (3) 25,171 Commercial paper 37,580 — — 37,580 Total short-term AFS securities $ 308,490 $ 604 $ (14) $ 309,080 Long-term AFS securities Corporate debt securities $ 134,296 $ 1,643 $ (5) $ 135,934 U.S. Treasury securities 95,511 2,054 — 97,565 U.S. governmental agency securities 48,342 19 (13) 48,348 Municipal securities 4,994 — (10) 4,984 Total long-term AFS securities $ 283,143 $ 3,716 $ (28) $ 286,831 The following tables represent the AFS securities as of March 28, 2021, and December 27, 2020, that were in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: March 28, 2021 Less than 12 Months 12 Months or Greater Total (In thousands) Fair Value Gross unrealized losses Fair Value Gross unrealized losses Fair Value Gross unrealized losses Short-term AFS securities Corporate debt securities $ 50,264 $ (19) $ — $ — $ 50,264 $ (19) U.S. Treasury securities 10,563 (1) — — 10,563 (1) Total short-term AFS securities $ 60,827 $ (20) $ — $ — $ 60,827 $ (20) Long-term AFS securities Corporate debt securities $ 42,532 $ (119) $ — $ — $ 42,532 $ (119) U.S. Treasury securities 9,493 (8) — — 9,493 (8) U.S. governmental agency securities 21,235 (13) — — 21,235 (13) Municipal securities 7,161 (7) — — 7,161 (7) Total long-term AFS securities $ 80,421 $ (147) $ — $ — $ 80,421 $ (147) December 27, 2020 Less than 12 Months 12 Months or Greater Total (In thousands) Fair Value Gross unrealized losses Fair Value Gross unrealized losses Fair Value Gross unrealized losses Short-term AFS securities Corporate debt securities $ 33,735 $ (8) $ — $ — $ 33,735 $ (8) U.S. Treasury securities 20,133 (3) — — 20,133 (3) U.S. governmental agency securities 4,999 (2) 8,749 (1) 13,748 (3) Total short-term AFS securities $ 58,867 $ (13) $ 8,749 $ (1) $ 67,616 $ (14) Long-term AFS securities Corporate debt securities $ 6,717 $ (5) $ — $ — $ 6,717 $ (5) U.S. governmental agency securities 26,236 (13) — — 26,236 (13) Municipal securities 4,984 (10) — — 4,984 (10) Total long-term AFS securities $ 37,937 $ (28) $ — $ — $ 37,937 $ (28) We assess AFS securities on a quarterly basis or more often if a potential loss-triggering event occurs. As of March 28, 2021 , and December 27, 2020, we did not intend to sell and it was not likely that we would be required to sell these investments before recovery of their amortized cost basis, which may be at maturity. Unrealized losses related to these investments are primarily due to interest rate fluctuations as opposed to changes in credit quality. Therefore, as of March 28, 2021 , and December 27, 2020, we have recognized no losses or allowance for credit losses related to AFS securities. As of March 28, 2021, and December 27, 2020, our short-term and long-term marketable securities had remaining maturities of less than one month to 12 months and 13 months to 36 months, respectively. See Note 8 for more information regarding the fair value of our marketable securities.

Goodwill and Intangibles

Goodwill and Intangibles	3 Months Ended
	Mar. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill as of March 28, 2021, and since December 27, 2020, were as follows: (In thousands) Total Company Balance as of December 27, 2020 $ 171,657 Foreign currency translation (2,362) Balance as of March 28, 2021 $ 169,295 The foreign currency translation line item reflects changes in goodwill resulting from fluctuating exchange rates related to the consolidation of certain international subsidiaries. The aggregate carrying amount of intangible assets of $15.8 million is included in Miscellaneous assets

Investments

Investments	3 Months Ended
	Mar. 28, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	INVESTMENTS Non-Marketable Equity Securities Our non-marketable equity securities are investments in privately held companies/funds without readily determinable market values. Gains and losses on non-marketable securities sold or impaired are recognized in Interest income and other, net . As of March 28, 2021, and December 27, 2020, non-marketable equity securities included in Miscellaneous assets in our Condensed Consolidated Balance Sheets had a carrying value of $21.0 million and $20.9 million, respectively. During the first quarter of 2020, we recorded a $10.1 million gain related to a non-marketable equity investment transaction. The gain is comprised of $2.5 million realized gain due to the partial sale of the investment and a $7.6 million unrealized gain due to the mark to market of the remaining investment, and is included in Interest income and other, net in our Condensed Consolidated Statements of Operations.

Other

Other	3 Months Ended
	Mar. 28, 2021
Other Income and Expenses [Abstract]
Other	OTHER Capitalized Computer Software Costs Amortization of capitalized computer software costs included in Depreciation and amortization in our Condensed Consolidated Statements of Operations were $2.6 million and $3.8 million in the first quarters of 2021 and 2020, respectively. Interest income and other, net Interest income and other, net , as shown in the accompanying Condensed Consolidated Statements of Operations was as follows: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Interest income and other expense, net (1) $ 1,689 $ 14,039 Interest expense (178) (185) Total interest income and other, net $ 1,511 $ 13,854 (1) The quarter ended March 29, 2020 includes a $10.1 million gain related to a non-marketable equity investment transaction. Restricted Cash A reconciliation of cash, cash equivalents and restricted cash as of March 28, 2021, and December 27, 2020, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows: (In thousands) March 28, 2021 December 27, 2020 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 275,242 $ 286,079 Restricted cash included within other current assets 664 686 Restricted cash included within miscellaneous assets 14,330 15,199 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 290,236 $ 301,964 Substantially all of the amount included in restricted cash is set aside to collateralize workers’ compensation obligations. Revolving Credit Facility In September 2019, the Company entered into a $250.0 million five-year unsecured revolving credit facility (the “Credit Facility”). Certain of the Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Facility. Borrowings under the Credit Facility bear interest at specified rates based on our utilization and consolidated leverage ratio. The Credit Facility contains various customary affirmative and negative covenants. In addition, the Company is obligated to pay a quarterly unused commitment fee of 0.20%. As of March 28, 2021, there were no outstanding borrowings under the Credit Facility and the Company was in compliance with the financial covenants contained in the documents governing the Credit Facility. Severance Costs We recognized $0.4 million in severance costs in each of the first quarters of 2021 and 2020, respectively. These costs are recorded in General and administrative costs in our Condensed Consolidated Statements of Operations. We had a severance liability of $3.3 million and $5.0 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of March 28, 2021, and December 27, 2020, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is the price that would be received upon the sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. The transaction would be in the principal or most advantageous market for the asset or liability, based on assumptions that a market participant would use in pricing the asset or liability. The fair value hierarchy consists of three levels: Level 1–quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; Level 2–inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3–unobservable inputs for the asset or liability. Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 28, 2021, and December 27, 2020: (In thousands) March 28, 2021 December 27, 2020 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Short-term AFS securities (1) Corporate debt securities $ 126,331 $ — $ 126,331 $ — $ 130,301 $ — $ 130,301 $ — Certificates of deposit 59,083 — 59,083 — 36,525 — 36,525 — U.S. Treasury securities 51,251 — 51,251 — 79,503 — 79,503 — U.S. governmental agency securities 39,404 — 39,404 — 25,171 — 25,171 — Commercial paper 21,385 — 21,385 — 37,580 — 37,580 — Total short-term AFS securities $ 297,454 $ — $ 297,454 $ — $ 309,080 $ — $ 309,080 $ — Long-term AFS securities (1) Corporate debt securities $ 151,278 $ — $ 151,278 $ — $ 135,934 $ — $ 135,934 $ — U.S. Treasury securities 102,965 — 102,965 — 97,565 — 97,565 — U.S. governmental agency securities 51,590 — 51,590 — 48,348 — 48,348 — Municipal securities 12,155 — 12,155 — 4,984 — 4,984 — Total long-term AFS securities $ 317,988 $ — $ 317,988 $ — $ 286,831 $ — $ 286,831 $ — Liabilities: Deferred compensation (2)(3) $ 18,857 $ 18,857 $ — $ — $ 22,245 $ 22,245 $ — $ — Contingent consideration $ 7,728 $ — $ — $ 7,728 $ 8,431 $ — $ — $ 8,431 (1) We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities. (2) The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), which previously enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015. (3) The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $50.2 million as of March 28, 2021, and $49.2 million as of December 27, 2020. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy. Level 3 Liabilities The contingent consideration liability is related to the 2020 acquisition of substantially all the assets and certain liabilities of Serial Productions, LLC (the “Serial acquisition”) and represents contingent payments based on the achievement of certain operational targets, as defined in the acquisition agreement, over the 5 years following the acquisition. The Company estimated the fair value using a probability-weighted discounted cash flow model. The estimate of the fair value of contingent consideration requires subjective assumptions to be made regarding probabilities assigned to operational targets and the discount rate. As the fair value is based on significant unobservable inputs, this is a Level 3 liability. The following table presents the contingent consideration balances as of March 28, 2021, and December 27, 2020: (In thousands) March 28, 2021 December 27, 2020 Balance at the beginning of the period (1) $ 8,431 $ — Serial acquisition — 9,293 Payments — (862) Fair value adjustments (2) (703) — Contingent consideration at the end of the period $ 7,728 $ 8,431 (1) There were no transactions involving contingent consideration during the quarter ended March 29, 2020. The contingent consideration reflected above relates to the Serial acquisition, which was completed during the third quarter of 2020. (2) Fair value adjustments are included in General and administrative expenses in our Condensed Consolidated Statements of Operations. The remaining contingent consideration balances as of March 28, 2021, and December 27, 2020, of $7.7 million and $8.4 million, respectively, are included in Accrued expenses and other , for the current portion of the liability, and Other non-current liabilities , for the long-term portion of the liability, in our Condensed Consolidated Balance Sheets.

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	3 Months Ended
	Mar. 28, 2021
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	PENSION AND OTHER POSTRETIREMENT BENEFITS Pension Single-Employer Plans We maintain The New York Times Companies Pension Plan (the “Pension Plan”), a frozen single-employer defined benefit pension plan. The Company also jointly sponsors a defined benefit plan with The NewsGuild of New York known as the Guild-Times Adjustable Pension Plan (the “APP”) that continues to accrue active benefits. We also have a foreign-based pension plan for certain employees (the “foreign plan”). The information for the foreign plan is combined with the information for U.S. non-qualified plans. The benefit obligation of the foreign plan is immaterial to our total benefit obligation. The components of net periodic pension cost were as follows: For the Quarters Ended March 28, 2021 March 29, 2020 (In thousands) Qualified Non- All Qualified Non- All Service cost $ 2,276 $ — $ 2,276 $ 2,607 $ — $ 2,607 Interest cost 7,629 1,088 8,717 11,742 1,648 13,390 Expected return on plan assets (12,677) — (12,677) (17,736) — (17,736) Amortization of actuarial loss 5,055 1,821 6,876 5,655 1,521 7,176 Amortization of prior service credit (486) — (486) (486) — (486) Net periodic pension cost (1) $ 1,797 $ 2,909 $ 4,706 $ 1,782 $ 3,169 $ 4,951 (1) The service cost component of net periodic pension cost is recognized in Total operating costs, while the other components are included in Other components of net periodic benefit costs in our Condensed Consolidated Statements of Operations, below Operating profit. During the first quarters of 2021 and 2020, we made pension contributions of $1.5 million and $2.1 million, respectively, to the APP. We expect contributions in 2021 to total approximately $10 million to satisfy funding requirements. Other Postretirement Benefits The components of net periodic postretirement benefit cost/(income) were as follows: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Service cost $ 13 $ 7 Interest cost 141 256 Amortization of actuarial loss 852 763 Amortization of prior service credit (836) (1,056) Net periodic postretirement benefit cost/(income) (1) $ 170 $ (30) (1) The service cost component of net periodic postretirement benefit cost/(income) is recognized in Total operating costs, while the other components are included in Other components of net periodic benefit costs in our Condensed Consolidated Statements of Operations, below Operating profit.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 28, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXESThe Company had income tax expense of $9.5 million and $6.0 million in the first quarters of 2021 and 2020, respectively. The Company’s effective tax rates from continuing operations were 18.7% and 15.5% for the first quarters of 2021 and 2020, respectively. The Company received a tax benefit in both periods from stock price appreciation on stock-based awards that settled in the quarters, resulting in a lower than statutory tax rate.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 28, 2021
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE We compute earnings per share using a two-class method, which is 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 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 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 a significant impact on diluted shares. The difference between basic and diluted shares of approximately 0.5 million and 1.3 million as of March 28, 2021, and March 29, 2020, resulted primarily from the dilutive effect of certain stock options, performance awards and restricted stock units. Securities that could potentially be dilutive are excluded from the computation of diluted earnings per share when a loss from continuing operations exists or when the exercise price exceeds the market value of our Class A Common Stock, because their inclusion would result in an anti-dilutive effect on per share amounts. There were approximately 0.1 million and 0.2 million restricted stock units excluded from the computation of diluted earnings per share in the first quarters of 2021 and 2020, respectively, because they were anti-dilutive. There were no anti-dilutive stock options or stock-settled long-term performance awards excluded from the computation of diluted earnings per share in the first quarters of 2021 and 2020, respectively.

Supplemental Stockholders' Equi

Supplemental Stockholders' Equity Information	3 Months Ended
	Mar. 28, 2021
Equity [Abstract]
Supplemental Stockholders' Equity Information	SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATIONIn 2015, the Board of Directors authorized up to $101.1 million of repurchases of shares of the Company’s Class A Common Stock. As of March 28, 2021, repurchases under this authorization totaled $84.9 million (excluding commissions) and $16.2 million remained. Our Board of Directors has authorized us to purchase shares from time to time, subject to market conditions and other factors. There is no expiration date with respect to this authorization. There have been no purchases under this authorization since 2016. The following table summarizes the changes in AOCI by component as of March 28, 2021: (In thousands) Foreign Currency Translation Adjustments Funded Status of Benefit Plans Net Unrealized Gain on Available-For-Sale Securities Total Accumulated Other Comprehensive Loss Balance as of December 27, 2020 $ 8,386 $ (421,698) $ 3,131 $ (410,181) Other comprehensive income before reclassifications, before tax (2,702) — (1,067) (3,769) Amounts reclassified from accumulated other comprehensive loss, before tax — 6,406 — 6,406 Income tax (benefit)/expense (723) 1,718 (286) 709 Net current-period other comprehensive (loss)/ income, net of tax (1,979) 4,688 (781) 1,928 Balance as of March 28, 2021 $ 6,407 $ (417,010) $ 2,350 $ (408,253) The following table summarizes the reclassifications from AOCI for the first quarter ended March 28, 2021: (In thousands) Detail about accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affects line item in the statement where net income is presented Funded status of benefit plans: Amortization of prior service credit (1) $ (1,322) Other components of net periodic benefit costs Amortization of actuarial loss (1) 7,728 Other components of net periodic benefit costs Total reclassification, before tax (2) 6,406 Income tax expense 1,718 Income tax expense Total reclassification, net of tax $ 4,688 (1) These AOCI components are included in the computation of net periodic benefit cost for pension and other postretirement benefits. See Note 9 for more information. (2) There were no reclassifications relating to noncontrolling interest for the first quarter ended March 28, 2021.

Segment Information

Segment Information	3 Months Ended
	Mar. 28, 2021
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATIONThe Company identifies a business as an operating segment if: (i) it engages in business activities from which it may earn revenues and incur expenses; (ii) its operating results are regularly reviewed by the Chief Operating Decision Maker (who is the Company’s President and Chief Executive Officer) to make decisions about resources to be allocated to the segment and assess its performance; and (iii) it has available discrete financial information. The Company has determined that it has one reportable segment. Therefore, all required segment information can be found in the Condensed Consolidated Financial Statements.

Contingent Liabilities

Contingent Liabilities	3 Months Ended
	Mar. 28, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities	CONTINGENT LIABILITIES Legal Proceedings We are involved in various legal actions incidental to our business that are now pending against us. These actions generally have damage claims that are greatly in excess of the payments, if any, that we would be required to pay if we lost or settled the cases. 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.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 28, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Accounting Standard Update(s) Topic Effective Period Summary 2019-12 Simplifying the Accounting for Income Taxes (Topic 740) Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. Simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification (“ASC”) 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted this guidance on December 28, 2020. The adoption did not have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 28, 2021
Accounting Policies [Abstract]
Schedule of Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Accounting Standard Update(s) Topic Effective Period Summary 2019-12 Simplifying the Accounting for Income Taxes (Topic 740) Fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted. Simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification (“ASC”) 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The Company adopted this guidance on December 28, 2020. The adoption did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 28, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Subscription, advertising and other revenues were as follows: For the Quarters Ended (In thousands) March 28, 2021 As % of total March 29, 2020 As % of total Subscription $ 329,084 69.6 % $ 285,434 64.4 % Advertising 97,116 20.5 % 106,137 23.9 % Other (1) 46,845 9.9 % 52,065 11.7 % Total $ 473,045 100.0 % $ 443,636 100.0 % (1) Other revenues includes building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was approximately $6 million and $8 million for the quarters ended March 28, 2021, and March 29, 2020, respectively. The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the quarters ended March 28, 2021, and March 29, 2020: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Digital-only subscription revenues: News product subscription revenues (1) $ 161,287 $ 118,958 Other product subscription revenues (2) 18,312 11,052 Subtotal digital-only subscriptions 179,599 130,010 Print subscription revenues: Domestic home delivery subscription revenues (3) 134,395 133,736 Single-copy, NYT International and other subscription revenues (4) 15,090 21,688 Subtotal print subscription revenues 149,485 155,424 Total subscription revenues $ 329,084 $ 285,434 (1) Includes revenues from subscriptions to the Company’s news product. News product subscription packages that include access to the Company’s Games and Cooking products are also included in this category. (2) Includes revenues from standalone subscriptions to the Company’s Games, Cooking and Audm products. (3) Includes free access to some of the Company’s digital products. (4) NYT International is the international edition of our print newspaper. The following table summarizes digital and print advertising revenues for the quarters ended March 28, 2021, and March 29, 2020: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Advertising revenues: Digital $ 59,496 $ 51,158 Print 37,620 54,979 Total advertising $ 97,116 $ 106,137

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Mar. 28, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Market Value of AFS Securities	The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of March 28, 2021, and December 27, 2020: March 28, 2021 (In thousands) Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Short-term AFS securities Corporate debt securities $ 125,933 $ 417 $ (19) $ 126,331 Certificates of deposit 59,083 — — 59,083 U.S. Treasury securities 51,225 27 (1) 51,251 U.S. governmental agency securities 39,362 42 — 39,404 Commercial paper 21,385 — — 21,385 Total short-term AFS securities $ 296,988 $ 486 $ (20) $ 297,454 Long-term AFS securities Corporate debt securities $ 150,272 $ 1,125 $ (119) $ 151,278 U.S. Treasury securities 101,222 1,751 (8) 102,965 U.S. governmental agency securities 51,588 15 (13) 51,590 Municipal securities 12,161 1 (7) 12,155 Total long-term AFS securities $ 315,243 $ 2,892 $ (147) $ 317,988 December 27, 2020 (In thousands) Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Short-term AFS securities Corporate debt securities $ 129,805 $ 504 $ (8) $ 130,301 Certificates of deposit 36,525 — — 36,525 U.S. Treasury securities 79,467 39 (3) 79,503 U.S. governmental agency securities 25,113 61 (3) 25,171 Commercial paper 37,580 — — 37,580 Total short-term AFS securities $ 308,490 $ 604 $ (14) $ 309,080 Long-term AFS securities Corporate debt securities $ 134,296 $ 1,643 $ (5) $ 135,934 U.S. Treasury securities 95,511 2,054 — 97,565 U.S. governmental agency securities 48,342 19 (13) 48,348 Municipal securities 4,994 — (10) 4,984 Total long-term AFS securities $ 283,143 $ 3,716 $ (28) $ 286,831
Schedule of AFS Securities in Unrealized Loss Position	The following tables represent the AFS securities as of March 28, 2021, and December 27, 2020, that were in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position: March 28, 2021 Less than 12 Months 12 Months or Greater Total (In thousands) Fair Value Gross unrealized losses Fair Value Gross unrealized losses Fair Value Gross unrealized losses Short-term AFS securities Corporate debt securities $ 50,264 $ (19) $ — $ — $ 50,264 $ (19) U.S. Treasury securities 10,563 (1) — — 10,563 (1) Total short-term AFS securities $ 60,827 $ (20) $ — $ — $ 60,827 $ (20) Long-term AFS securities Corporate debt securities $ 42,532 $ (119) $ — $ — $ 42,532 $ (119) U.S. Treasury securities 9,493 (8) — — 9,493 (8) U.S. governmental agency securities 21,235 (13) — — 21,235 (13) Municipal securities 7,161 (7) — — 7,161 (7) Total long-term AFS securities $ 80,421 $ (147) $ — $ — $ 80,421 $ (147) December 27, 2020 Less than 12 Months 12 Months or Greater Total (In thousands) Fair Value Gross unrealized losses Fair Value Gross unrealized losses Fair Value Gross unrealized losses Short-term AFS securities Corporate debt securities $ 33,735 $ (8) $ — $ — $ 33,735 $ (8) U.S. Treasury securities 20,133 (3) — — 20,133 (3) U.S. governmental agency securities 4,999 (2) 8,749 (1) 13,748 (3) Total short-term AFS securities $ 58,867 $ (13) $ 8,749 $ (1) $ 67,616 $ (14) Long-term AFS securities Corporate debt securities $ 6,717 $ (5) $ — $ — $ 6,717 $ (5) U.S. governmental agency securities 26,236 (13) — — 26,236 (13) Municipal securities 4,984 (10) — — 4,984 (10) Total long-term AFS securities $ 37,937 $ (28) $ — $ — $ 37,937 $ (28)

Goodwill and Intangibles (Table

Goodwill and Intangibles (Tables)	3 Months Ended
	Mar. 28, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill Balances	The changes in the carrying amount of goodwill as of March 28, 2021, and since December 27, 2020, were as follows: (In thousands) Total Company Balance as of December 27, 2020 $ 171,657 Foreign currency translation (2,362) Balance as of March 28, 2021 $ 169,295

Other (Tables)

Other (Tables)	3 Months Ended
	Mar. 28, 2021
Other Income and Expenses [Abstract]
Interest Income and Other, Net	Interest income and other, net , as shown in the accompanying Condensed Consolidated Statements of Operations was as follows: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Interest income and other expense, net (1) $ 1,689 $ 14,039 Interest expense (178) (185) Total interest income and other, net $ 1,511 $ 13,854
Reconciliation of Cash, Cash Equivalents, and Restricted Cash	A reconciliation of cash, cash equivalents and restricted cash as of March 28, 2021, and December 27, 2020, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows: (In thousands) March 28, 2021 December 27, 2020 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 275,242 $ 286,079 Restricted cash included within other current assets 664 686 Restricted cash included within miscellaneous assets 14,330 15,199 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 290,236 $ 301,964
Restrictions on Cash and Cash Equivalents	A reconciliation of cash, cash equivalents and restricted cash as of March 28, 2021, and December 27, 2020, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows: (In thousands) March 28, 2021 December 27, 2020 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 275,242 $ 286,079 Restricted cash included within other current assets 664 686 Restricted cash included within miscellaneous assets 14,330 15,199 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 290,236 $ 301,964

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 28, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis	The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 28, 2021, and December 27, 2020: (In thousands) March 28, 2021 December 27, 2020 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Short-term AFS securities (1) Corporate debt securities $ 126,331 $ — $ 126,331 $ — $ 130,301 $ — $ 130,301 $ — Certificates of deposit 59,083 — 59,083 — 36,525 — 36,525 — U.S. Treasury securities 51,251 — 51,251 — 79,503 — 79,503 — U.S. governmental agency securities 39,404 — 39,404 — 25,171 — 25,171 — Commercial paper 21,385 — 21,385 — 37,580 — 37,580 — Total short-term AFS securities $ 297,454 $ — $ 297,454 $ — $ 309,080 $ — $ 309,080 $ — Long-term AFS securities (1) Corporate debt securities $ 151,278 $ — $ 151,278 $ — $ 135,934 $ — $ 135,934 $ — U.S. Treasury securities 102,965 — 102,965 — 97,565 — 97,565 — U.S. governmental agency securities 51,590 — 51,590 — 48,348 — 48,348 — Municipal securities 12,155 — 12,155 — 4,984 — 4,984 — Total long-term AFS securities $ 317,988 $ — $ 317,988 $ — $ 286,831 $ — $ 286,831 $ — Liabilities: Deferred compensation (2)(3) $ 18,857 $ 18,857 $ — $ — $ 22,245 $ 22,245 $ — $ — Contingent consideration $ 7,728 $ — $ — $ 7,728 $ 8,431 $ — $ — $ 8,431 (1) We classified these investments as Level 2 since the fair value is based on market observable inputs for investments with similar terms and maturities. (2) The deferred compensation liability, included in Other liabilities—other in our Condensed Consolidated Balance Sheets, consists of deferrals under The New York Times Company Deferred Executive Compensation Plan (the “DEC”), which previously enabled certain eligible executives to elect to defer a portion of their compensation on a pre-tax basis. The deferred amounts are invested at the executives’ option in various mutual funds. The fair value of deferred compensation is based on the mutual fund investments elected by the executives and on quoted prices in active markets for identical assets. Participation in the DEC was frozen effective December 31, 2015. (3) The Company invests the assets associated with the deferred compensation liability in life insurance products. Our investments in life insurance products are included in Miscellaneous assets in our Condensed Consolidated Balance Sheets, and were $50.2 million as of March 28, 2021, and $49.2 million as of December 27, 2020. The fair value of these assets is measured using the net asset value per share (or its equivalent) and has not been classified in the fair value hierarchy.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following table presents the contingent consideration balances as of March 28, 2021, and December 27, 2020: (In thousands) March 28, 2021 December 27, 2020 Balance at the beginning of the period (1) $ 8,431 $ — Serial acquisition — 9,293 Payments — (862) Fair value adjustments (2) (703) — Contingent consideration at the end of the period $ 7,728 $ 8,431 (1) There were no transactions involving contingent consideration during the quarter ended March 29, 2020. The contingent consideration reflected above relates to the Serial acquisition, which was completed during the third quarter of 2020. (2) Fair value adjustments are included in General and administrative expenses in our Condensed Consolidated Statements of Operations.

Pension and Other Postretirem_2

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 28, 2021
Pension Plan
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 28, 2021 March 29, 2020 (In thousands) Qualified Non- All Qualified Non- All Service cost $ 2,276 $ — $ 2,276 $ 2,607 $ — $ 2,607 Interest cost 7,629 1,088 8,717 11,742 1,648 13,390 Expected return on plan assets (12,677) — (12,677) (17,736) — (17,736) Amortization of actuarial loss 5,055 1,821 6,876 5,655 1,521 7,176 Amortization of prior service credit (486) — (486) (486) — (486) Net periodic pension cost (1) $ 1,797 $ 2,909 $ 4,706 $ 1,782 $ 3,169 $ 4,951 (1) The service cost component of net periodic pension cost is recognized in Total operating costs, while the other components are included in Other components of net periodic benefit costs in our Condensed Consolidated Statements of Operations, below Operating profit.
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 cost/(income) were as follows: For the Quarters Ended (In thousands) March 28, 2021 March 29, 2020 Service cost $ 13 $ 7 Interest cost 141 256 Amortization of actuarial loss 852 763 Amortization of prior service credit (836) (1,056) Net periodic postretirement benefit cost/(income) (1) $ 170 $ (30) (1) The service cost component of net periodic postretirement benefit cost/(income) is recognized in Total operating costs, while the other components are included in Other components of net periodic benefit costs in our Condensed Consolidated Statements of Operations, below Operating profit.

Supplemental Stockholders' Eq_2

Supplemental Stockholders' Equity Information (Tables)	3 Months Ended
	Mar. 28, 2021
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in AOCI by component as of March 28, 2021: (In thousands) Foreign Currency Translation Adjustments Funded Status of Benefit Plans Net Unrealized Gain on Available-For-Sale Securities Total Accumulated Other Comprehensive Loss Balance as of December 27, 2020 $ 8,386 $ (421,698) $ 3,131 $ (410,181) Other comprehensive income before reclassifications, before tax (2,702) — (1,067) (3,769) Amounts reclassified from accumulated other comprehensive loss, before tax — 6,406 — 6,406 Income tax (benefit)/expense (723) 1,718 (286) 709 Net current-period other comprehensive (loss)/ income, net of tax (1,979) 4,688 (781) 1,928 Balance as of March 28, 2021 $ 6,407 $ (417,010) $ 2,350 $ (408,253)
Reclassification out of Accumulated Other Comprehensive Income	The following table summarizes the reclassifications from AOCI for the first quarter ended March 28, 2021: (In thousands) Detail about accumulated other comprehensive loss components Amounts reclassified from accumulated other comprehensive loss Affects line item in the statement where net income is presented Funded status of benefit plans: Amortization of prior service credit (1) $ (1,322) Other components of net periodic benefit costs Amortization of actuarial loss (1) 7,728 Other components of net periodic benefit costs Total reclassification, before tax (2) 6,406 Income tax expense 1,718 Income tax expense Total reclassification, net of tax $ 4,688 (1) These AOCI components are included in the computation of net periodic benefit cost for pension and other postretirement benefits. See Note 9 for more information. (2) There were no reclassifications relating to noncontrolling interest for the first quarter ended March 28, 2021.

Revenue - Subscription, Adverti

Revenue - Subscription, Advertising, and Other Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 473,045	$ 443,636
Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	100.00%	100.00%
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	$ 329,084	$ 285,434
Subscription | Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	69.60%	64.40%
Advertising
Disaggregation of Revenue [Line Items]
Total revenues	$ 97,116	$ 106,137
Advertising | Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	20.50%	23.90%
Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 46,845	$ 52,065
Other | Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	9.90%	11.70%
Real Estate
Disaggregation of Revenue [Line Items]
Revenue not from contract with customer	$ 6,000	$ 8,000

Revenue - Digital-only Subscrip

Revenue - Digital-only Subscription Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 473,045	$ 443,636
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	329,084	285,434
Subscription | Digital
Disaggregation of Revenue [Line Items]
Total revenues	179,599	130,010
Subscription | Print
Disaggregation of Revenue [Line Items]
Total revenues	149,485	155,424
News products | Digital
Disaggregation of Revenue [Line Items]
Total revenues	161,287	118,958
Other products | Digital
Disaggregation of Revenue [Line Items]
Total revenues	18,312	11,052
Domestic home delivery subscription | Print
Disaggregation of Revenue [Line Items]
Total revenues	134,395	133,736
Single copy, NYT International and other | Print
Disaggregation of Revenue [Line Items]
Total revenues	$ 15,090	$ 21,688

Revenue - Advertising Revenues

Revenue - Advertising Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Disaggregation of Revenue [Line Items]
Advertising revenue	$ 473,045	$ 443,636
Advertising
Disaggregation of Revenue [Line Items]
Advertising revenue	97,116	106,137
Digital | Advertising
Disaggregation of Revenue [Line Items]
Advertising revenue	59,496	51,158
Print | Advertising
Disaggregation of Revenue [Line Items]
Advertising revenue	$ 37,620	$ 54,979

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details) $ in Millions	Mar. 28, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 112
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-03-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 37
Remaining performance obligation, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 34
Remaining performance obligation, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-12-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 41
Remaining performance obligation, period

Revenue - Contract Assets (Deta

Revenue - Contract Assets (Details) - USD ($) $ in Millions	Mar. 28, 2021	Dec. 27, 2020
Revenue from Contract with Customer [Abstract]
Contract asset, current	$ 1.7	$ 1.8

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 28, 2021	Dec. 27, 2020
Line of Credit Facility [Line Items]
Net unrealized gains in other comprehensive income	$ 3,200,000	$ 4,300,000
OTTI loss recognized	$ 0	$ 0
Short-term Marketable Securities | Minimum
Line of Credit Facility [Line Items]
Marketable securities, remaining maturities (in months)	1 month	1 month
Short-term Marketable Securities | Maximum
Line of Credit Facility [Line Items]
Marketable securities, remaining maturities (in months)	12 months	12 months
Long-term Marketable Securities | Minimum
Line of Credit Facility [Line Items]
Marketable securities, remaining maturities (in months)	13 months	13 months
Long-term Marketable Securities | Maximum
Line of Credit Facility [Line Items]
Marketable securities, remaining maturities (in months)	36 months	36 months

Marketable Securities - Availab

Marketable Securities - Available for Sale (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 27, 2020
Short-term AFS securities
Amortized cost, short-term AFS securities	$ 296,988	$ 308,490
Gross unrealized gains, short-term AFS securities	486	604
Gross unrealized losses, short-term AFS securities	(20)	(14)
Fair value, short-term AFS securities	297,454	309,080
Long-term AFS securities
Amortized cost, long-term AFS securities	315,243	283,143
Gross unrealized gains, long-term AFS securities	2,892	3,716
Gross unrealized losses, long-term AFS securities	(147)	(28)
Fair value, long-term AFS securities	317,988	286,831
Corporate debt securities
Short-term AFS securities
Amortized cost, short-term AFS securities	125,933	129,805
Gross unrealized gains, short-term AFS securities	417	504
Gross unrealized losses, short-term AFS securities	(19)	(8)
Fair value, short-term AFS securities	126,331	130,301
Long-term AFS securities
Amortized cost, long-term AFS securities	150,272	134,296
Gross unrealized gains, long-term AFS securities	1,125	1,643
Gross unrealized losses, long-term AFS securities	(119)	(5)
Fair value, long-term AFS securities	151,278	135,934
Certificates of deposit
Short-term AFS securities
Amortized cost, short-term AFS securities	59,083	36,525
Gross unrealized gains, short-term AFS securities	0	0
Gross unrealized losses, short-term AFS securities	0	0
Fair value, short-term AFS securities	59,083	36,525
U.S. Treasury securities
Short-term AFS securities
Amortized cost, short-term AFS securities	51,225	79,467
Gross unrealized gains, short-term AFS securities	27	39
Gross unrealized losses, short-term AFS securities	(1)	(3)
Fair value, short-term AFS securities	51,251	79,503
Long-term AFS securities
Amortized cost, long-term AFS securities	101,222	95,511
Gross unrealized gains, long-term AFS securities	1,751	2,054
Gross unrealized losses, long-term AFS securities	(8)	0
Fair value, long-term AFS securities	102,965	97,565
U.S. governmental agency securities
Short-term AFS securities
Amortized cost, short-term AFS securities	39,362	25,113
Gross unrealized gains, short-term AFS securities	42	61
Gross unrealized losses, short-term AFS securities	0	(3)
Fair value, short-term AFS securities	39,404	25,171
Long-term AFS securities
Amortized cost, long-term AFS securities	51,588	48,342
Gross unrealized gains, long-term AFS securities	15	19
Gross unrealized losses, long-term AFS securities	(13)	(13)
Fair value, long-term AFS securities	51,590	48,348
Commercial paper
Short-term AFS securities
Amortized cost, short-term AFS securities	21,385	37,580
Gross unrealized gains, short-term AFS securities	0	0
Gross unrealized losses, short-term AFS securities	0	0
Fair value, short-term AFS securities	21,385	37,580
Municipal securities
Long-term AFS securities
Amortized cost, long-term AFS securities	12,161	4,994
Gross unrealized gains, long-term AFS securities	1	0
Gross unrealized losses, long-term AFS securities	(7)	(10)
Fair value, long-term AFS securities	$ 12,155	$ 4,984

Marketable Securities Available

Marketable Securities Available-for-sale Securities - Continuous Loss Position (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 27, 2020
Total short-term AFS securities
Short-term AFS securities
Fair value, less than 12 months	$ 60,827	$ 58,867
Gross unrealized losses, less than 12 months	(20)	(13)
Fair value, greater than 12 months	0	8,749
Gross unrealized losses, greater than 12 months	0	(1)
Fair value, total	60,827	67,616
Gross unrealized losses, total	(20)	(14)
U.S. Treasury securities
Short-term AFS securities
Fair value, less than 12 months	10,563	20,133
Gross unrealized losses, less than 12 months	(1)	(3)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	10,563	20,133
Gross unrealized losses, total	(1)	(3)
Long-term AFS securities
Fair value, less than 12 months	9,493
Gross unrealized losses, less than 12 months	(8)
Fair value, greater than 12 months	0
Gross unrealized losses, greater than 12 months	0
Fair value, total	9,493
Gross unrealized losses, total	(8)
Total long-term AFS securities
Long-term AFS securities
Fair value, less than 12 months	80,421	37,937
Gross unrealized losses, less than 12 months	(147)	(28)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	80,421	37,937
Gross unrealized losses, total	(147)	(28)
Corporate debt securities
Short-term AFS securities
Fair value, less than 12 months	50,264	33,735
Gross unrealized losses, less than 12 months	(19)	(8)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	50,264	33,735
Gross unrealized losses, total	(19)	(8)
Long-term AFS securities
Fair value, less than 12 months	42,532	6,717
Gross unrealized losses, less than 12 months	(119)	(5)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	42,532	6,717
Gross unrealized losses, total	(119)	(5)
U.S. governmental agency securities
Short-term AFS securities
Fair value, less than 12 months		4,999
Gross unrealized losses, less than 12 months		(2)
Fair value, greater than 12 months		8,749
Gross unrealized losses, greater than 12 months		(1)
Fair value, total		13,748
Gross unrealized losses, total		(3)
Long-term AFS securities
Fair value, less than 12 months	21,235	26,236
Gross unrealized losses, less than 12 months	(13)	(13)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	21,235	26,236
Gross unrealized losses, total	(13)	(13)
Municipal securities
Long-term AFS securities
Fair value, less than 12 months	7,161	4,984
Gross unrealized losses, less than 12 months	(7)	(10)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	7,161	4,984
Gross unrealized losses, total	$ (7)	$ (10)

Goodwill and Intangibles - Narr

Goodwill and Intangibles - Narrative (Details) $ in Millions	Mar. 28, 2021USD ($)
Miscellaneous Assets
Business Acquisition [Line Items]
Intangible assets	$ 15.8

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Goodwill Balances (Details) $ in Thousands	3 Months Ended
	Mar. 28, 2021USD ($)
Goodwill [Roll Forward]
Balance as of December 27, 2020	$ 171,657
Foreign currency translation	(2,362)
Balance as of March 28, 2021	$ 169,295

Investments - Non-Marketable Eq

Investments - Non-Marketable Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020	Dec. 27, 2020
Net Investment Income [Line Items]
Equity securities	$ 21,000		$ 20,900
Interest income and other expense, net	$ 1,689	$ 14,039
Realized gain on partial sale of investment		2,500
Unrealized gain due to mark to market of remaining investment		7,600
Non-marketable equity securities
Net Investment Income [Line Items]
Interest income and other expense, net		$ 10,100

Other - Narrative (Details)

Other - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	Sep. 30, 2019	Mar. 28, 2021	Mar. 29, 2020	Dec. 27, 2020
Other Expense [Line Items]
Severance liability		$ 3,300,000		$ 5,000,000
Severance | Selling, General and Administrative Expenses
Other Expense [Line Items]
Severance costs		400,000	$ 400,000
Credit Facility
Other Expense [Line Items]
Unsecured revolving credit facility, maximum borrowing capacity	$ 250,000,000
Unsecured revolving credit facility, term (in years)	5 years
Unsecured revolving credit facility, unused commitment fee (quarterly)	0.20%
Line of credit facility, outstanding borrowings		0
Capitalized Computer Software Costs
Other Expense [Line Items]
Capitalized computer software amortization		$ 2,600,000	$ 3,800,000

Other - Interest Expense and Ot

Other - Interest Expense and Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Other Income and Expenses [Abstract]
Interest income and other expense, net	$ 1,689	$ 14,039
Interest expense	(178)	(185)
Total interest income and other, net	$ 1,511	13,854
Interest income and other expense, net		$ 10,100

Other - Reconciliation of Cash,

Other - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 27, 2020	Mar. 29, 2020	Dec. 29, 2019
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$ 275,242	$ 286,079
Restricted cash included within other current assets	664	686
Restricted cash included within miscellaneous assets	14,330	15,199
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	$ 290,236	$ 301,964	$ 234,133	$ 247,518

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 28, 2021	Dec. 27, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	$ 297,454	$ 309,080
Long-term AFS securities	317,988	286,831
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	18,857	22,245
Contingent consideration	0	0
Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	0	0
Contingent consideration	0	0
Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	0	0
Contingent consideration	7,728	8,431
Fair Value | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	18,857	22,245
Contingent consideration	7,728	8,431
Debt Securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	297,454	309,080
Long-term AFS securities	317,988	286,831
Debt Securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
Debt Securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	297,454	309,080
Long-term AFS securities	317,988	286,831
Debt Securities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	126,331	130,301
Long-term AFS securities	151,278	135,934
Corporate debt securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	126,331	130,301
Long-term AFS securities	151,278	135,934
Corporate debt securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
Corporate debt securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	126,331	130,301
Long-term AFS securities	151,278	135,934
Corporate debt securities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	59,083	36,525
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	59,083	36,525
Certificates of deposit | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Certificates of deposit | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	59,083	36,525
Certificates of deposit | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	51,251	79,503
Long-term AFS securities	102,965	97,565
U.S. Treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	51,251	79,503
Long-term AFS securities	102,965	97,565
U.S. Treasury securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
U.S. Treasury securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	51,251	79,503
Long-term AFS securities	102,965	97,565
U.S. Treasury securities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
U.S. governmental agency securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	39,404	25,171
Long-term AFS securities	51,590	48,348
U.S. governmental agency securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
U.S. governmental agency securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	39,404	25,171
Long-term AFS securities	51,590	48,348
U.S. governmental agency securities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Long-term AFS securities	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	21,385	37,580
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	21,385	37,580
Commercial paper | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Commercial paper | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	21,385	37,580
Commercial paper | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	0	0
Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term AFS securities	12,155	4,984
Municipal securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term AFS securities	12,155	4,984
Municipal securities | Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term AFS securities	0	0
Municipal securities | Level 2 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term AFS securities	12,155	4,984
Municipal securities | Level 3 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term AFS securities	0	0
Life insurance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Miscellaneous assets	$ 50,200	$ 49,200

Fair Value Measurements - Chang

Fair Value Measurements - Change in Balance of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 28, 2021	Dec. 27, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration redemption period (in years)	5 years
Recurring | Fair Value
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration	$ 7,728	$ 8,431
Contingent Consideration | Recurring
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at the beginning of the period	8,431	0
Serial acquisition	0	9,293
Payments	0	(862)
Fair value adjustments	(703)	0
Contingent consideration at the end of the period	$ 7,728	$ 8,431

Pension and Other Postretirem_3

Pension and Other Postretirement Benefits - Pension Benefits - Net Periodic Pension Cost (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Pension Benefits
Service cost	$ 2,276	$ 2,607
Interest cost	8,717	13,390
Expected return on plan assets	(12,677)	(17,736)
Amortization of actuarial loss	6,876	7,176
Amortization of prior service credit	(486)	(486)
Net periodic postretirement benefit cost/(income)	4,706	4,951
Qualified Plans
Pension Benefits
Service cost	2,276	2,607
Interest cost	7,629	11,742
Expected return on plan assets	(12,677)	(17,736)
Amortization of actuarial loss	5,055	5,655
Amortization of prior service credit	(486)	(486)
Net periodic postretirement benefit cost/(income)	1,797	1,782
Pension contributions	1,500	2,100
Expected future employer contributions	10,000
Non- Qualified Plans
Pension Benefits
Service cost	0	0
Interest cost	1,088	1,648
Expected return on plan assets	0	0
Amortization of actuarial loss	1,821	1,521
Amortization of prior service credit	0	0
Net periodic postretirement benefit cost/(income)	$ 2,909	$ 3,169

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Other Postretirement Benefits (Details) - Other Postretirement Benefit Plan - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Pension Benefits
Service cost	$ 13	$ 7
Interest cost	141	256
Amortization of actuarial loss	852	763
Amortization of prior service credit	(836)	(1,056)
Net periodic postretirement benefit cost/(income)	$ 170	$ (30)

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 9,461	$ 6,006
Effective income tax rate from continuing operations	18.70%	15.50%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	500,000	1,300,000
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	100,000	200,000
Long-Term Incentive Compensation Stock-Settled Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	0	0

Supplemental Stockholders' Eq_3

Supplemental Stockholders' Equity Information - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 28, 2021	Dec. 31, 2015
Class of Stock [Line Items]
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
Share repurchases	$ 84,900,000

Supplemental Stockholders' Eq_4

Supplemental Stockholders' Equity Information - Changes in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	$ 1,328,111	$ 1,173,863
Income tax (benefit)/expense	709	1,915
Other comprehensive income, net of tax	1,928	4,943
Balance, end of period	1,355,462	1,193,574
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	8,386
Other comprehensive income before reclassifications, before tax	(2,702)
Amounts reclassified from accumulated other comprehensive loss, before tax	0
Income tax (benefit)/expense	(723)
Other comprehensive income, net of tax	(1,979)
Balance, end of period	6,407
Funded Status of Benefit Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	(421,698)
Other comprehensive income before reclassifications, before tax	0
Amounts reclassified from accumulated other comprehensive loss, before tax	6,406
Income tax (benefit)/expense	1,718
Other comprehensive income, net of tax	4,688
Balance, end of period	(417,010)
Net Unrealized Gain on Available-For-Sale Securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	3,131
Other comprehensive income before reclassifications, before tax	(1,067)
Amounts reclassified from accumulated other comprehensive loss, before tax	0
Income tax (benefit)/expense	(286)
Other comprehensive income, net of tax	(781)
Balance, end of period	2,350
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	(410,181)	(494,976)
Other comprehensive income before reclassifications, before tax	(3,769)
Amounts reclassified from accumulated other comprehensive loss, before tax	6,406
Income tax (benefit)/expense	709
Other comprehensive income, net of tax	1,928	4,943
Balance, end of period	$ (408,253)	$ (490,033)

Supplemental Stockholders' Eq_5

Supplemental Stockholders' Equity Information - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 28, 2021	Mar. 29, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of revenue (excluding depreciation and amortization)	$ 2,599	$ 2,314
Total reclassification, before tax	50,570	38,860
Income tax expense	9,461	6,006
Total reclassification, net of tax	41,109	$ 32,854
Amounts reclassified from accumulated other comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassification, before tax	6,406
Income tax expense	1,718
Total reclassification, net of tax	4,688
Amounts reclassified from accumulated other comprehensive loss | Amortization of prior service credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of revenue (excluding depreciation and amortization)	(1,322)
Amounts reclassified from accumulated other comprehensive loss | Amortization of actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of revenue (excluding depreciation and amortization)	$ 7,728

Segment Information (Details)

Segment Information (Details)	3 Months Ended
	Mar. 28, 2021segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	1