The New York Times Company (NYT) 10-Q 4 Aug 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 27, 2021	Jul. 30, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 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	Q2
Amendment Flag	false
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		167,091,902
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	Jun. 27, 2021	Dec. 27, 2020
Current assets
Cash and cash equivalents	$ 320,871	$ 286,079
Short-term marketable securities	338,455	309,080
Accounts receivable (net of allowances of $12,269 in 2021 and $13,797 in 2020)	153,540	183,692
Prepaid expenses	36,262	29,487
Other current assets	32,110	27,497
Total current assets	881,238	835,835
Other assets
Long-term marketable securities	287,265	286,831
Property, plant and equipment (less accumulated depreciation and amortization of $891,635 in 2021 and $886,149 in 2020)	582,331	594,516
Goodwill	170,156	171,657
Deferred income taxes	96,869	99,518
Miscellaneous assets	330,148	319,332
Total assets	2,348,007	2,307,689
Current liabilities
Accounts payable	94,480	123,157
Accrued payroll and other related liabilities	101,637	121,159
Unexpired subscriptions revenue	114,740	105,346
Accrued expenses and other	135,660	137,086
Total current liabilities	446,517	486,748
Other liabilities
Pension benefits obligation	317,543	326,555
Postretirement benefits obligation	35,712	38,690
Other	129,448	127,585
Total other liabilities	482,703	492,830
Common stock of $.10 par value:
Additional paid-in capital	217,565	216,714
Retained earnings	1,756,198	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	7,092	8,386
Funded status of benefit plans	(412,315)	(421,698)
Net unrealized gain on available-for-sale securities	1,779	3,131
Total accumulated other comprehensive loss, net of income taxes	(403,444)	(410,181)
Total New York Times Company stockholders’ equity	1,416,782	1,325,517
Noncontrolling interest	2,005	2,594
Total stockholders’ equity	1,418,787	1,328,111
Total liabilities and stockholders’ equity	2,348,007	2,307,689
Class A Common Stock
Common stock of $.10 par value:
Common stock value	17,596	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	Jun. 27, 2021	Dec. 27, 2020
Accounts receivable, allowance for credit loss	$ 12,269	$ 13,797
Accumulated depreciation and amortization	$ 891,635	$ 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)	175,962,272	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		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Revenues
Total revenues	$ 498,497	$ 403,750	$ 971,542	$ 847,386
Operating costs
Cost of revenue (excluding depreciation and amortization)	251,358	229,913	502,355	473,397
Sales and marketing	53,555	39,605	113,708	113,389
Product development	39,699	30,983	78,642	61,985
General and administrative	62,283	58,812	118,860	111,673
Depreciation and amortization	14,486	15,631	29,203	30,816
Total operating costs	421,381	374,944	842,768	791,260
Lease termination charge	3,831	0	3,831	0
Operating profit	73,285	28,806	124,943	56,126
Other components of net periodic benefit costs	2,598	2,149	5,197	4,463
Interest income and other, net	1,873	2,786	3,384	16,640
Income from continuing operations before income taxes	72,560	29,443	123,130	68,303
Income tax expense	18,243	5,781	27,704	11,787
Net income	54,317	23,662	95,426	56,516
Net income attributable to The New York Times Company common stockholders	$ 54,317	$ 23,662	$ 95,426	$ 56,516
Average number of common shares outstanding:
Basic (in shares)	168,012	166,869	167,828	166,725
Diluted (in shares)	168,346	168,083	168,312	167,968
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)	$ 0.32	$ 0.14	$ 0.57	$ 0.34
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)	0.32	0.14	0.57	0.34
Dividends declared per share (in usd per share)	$ 0	$ 0	$ 0.07	$ 0.06
Subscription
Revenues
Total revenues	$ 339,217	$ 293,189	$ 668,301	$ 578,623
Advertising
Revenues
Total revenues	112,774	67,760	209,890	173,897
Other
Revenues
Total revenues	$ 46,506	$ 42,801	$ 93,351	$ 94,866

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 54,317	$ 23,662	$ 95,426	$ 56,516
Other comprehensive income, before tax:
Gain/(loss) on foreign currency translation adjustments	935	619	(1,767)	365
Pension and postretirement benefits obligation	6,409	6,231	12,815	12,628
Net unrealized (loss)/gain on available-for-sale securities	(779)	4,075	(1,846)	4,790
Other comprehensive income, before tax	6,565	10,925	9,202	17,783
Income tax expense	1,756	2,848	2,465	4,763
Other comprehensive income, net of tax	4,809	8,077	6,737	13,020
Comprehensive income attributable to The New York Times Company common stockholders	$ 59,126	$ 31,739	$ 102,163	$ 69,536

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Total New York Times Company Stockholders’ Equity	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	Non- controlling Interest
Balance, beginning of period at Dec. 29, 2019	$ 1,173,863	$ 1,172,003	$ 17,504	$ 208,028	$ 1,612,658	$ (171,211)	$ (494,976)	$ 1,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	56,516	56,516			56,516
Dividends	(10,016)	(10,016)			(10,016)
Other comprehensive income	13,020	13,020					13,020
Issuance of shares:
Stock options - Class A shares	1,873	1,873	18	1,855
Restricted stock units vested - Class A shares	(3,883)	(3,883)	14	(3,897)
Performance-based awards - Class A shares	(7,824)	(7,824)	26	(7,850)
Stock-based compensation	7,482	7,482		7,482
Balance, end of period at Jun. 28, 2020	1,231,031	1,229,171	17,562	205,618	1,659,158	(171,211)	(481,956)	1,860
Balance, beginning of period at Mar. 29, 2020	1,193,574	1,191,714	17,552	199,933	1,635,473	(171,211)	(490,033)	1,860
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	23,662	23,662			23,662
Dividends	23	23			23
Other comprehensive income	8,077	8,077					8,077
Issuance of shares:
Stock options - Class A shares	942	942	9	933
Restricted stock units vested - Class A shares	(274)	(274)	1	(275)
Stock-based compensation	5,027	5,027		5,027
Balance, end of period at Jun. 28, 2020	1,231,031	1,229,171	17,562	205,618	1,659,158	(171,211)	(481,956)	1,860
Balance, beginning of period at Dec. 27, 2020	1,328,111	1,325,517	17,609	216,714	1,672,586	(171,211)	(410,181)	2,594
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	95,426	95,426			95,426
Dividends	(11,814)	(11,814)			(11,814)
Other comprehensive income	6,737	6,737					6,737
Issuance of shares:
Stock options - Class A shares	2,447	2,447	33	2,414
Restricted stock units vested - Class A shares	(4,936)	(4,936)	18	(4,954)
Performance-based awards - Class A shares	(5,933)	(5,933)	14	(5,947)
Stock-based compensation	9,338	9,338		9,338
Distributions	(589)							(589)
Balance, end of period at Jun. 27, 2021	1,418,787	1,416,782	17,674	217,565	1,756,198	(171,211)	(403,444)	2,005
Balance, beginning of period at Mar. 28, 2021	1,355,462	1,352,868	17,670	212,802	1,701,860	(171,211)	(408,253)	2,594
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	54,317	54,317			54,317
Dividends	21	21			21
Other comprehensive income	4,809	4,809					4,809
Issuance of shares:
Restricted stock units vested - Class A shares	(386)	(386)	4	(390)
Stock-based compensation	5,153	5,153		5,153
Distributions	(589)							(589)
Balance, end of period at Jun. 27, 2021	$ 1,418,787	$ 1,416,782	$ 17,674	$ 217,565	$ 1,756,198	$ (171,211)	$ (403,444)	$ 2,005

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Statement of Stockholders' Equity [Abstract]
Stock options (in shares)		90,735	323,360	179,510
Restricted stock unit vested (in shares)	45,280	6,516	187,987	141,501
Performance-based awards (in shares)			142,253	257,098

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Cash flows from operating activities
Net income	$ 95,426	$ 56,516
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	29,203	30,816
Lease termination charge	3,831	0
Amortization of right of use asset	4,442	4,645
Stock-based compensation expense	9,338	7,482
Gain on non-marketable equity investment	0	(10,074)
Long-term retirement benefit obligations	(8,866)	(8,524)
Other – net	(289)	475
Changes in operating assets and liabilities:
Accounts receivable – net	30,152	91,310
Other assets	(8,027)	(1,292)
Accounts payable, accrued payroll and other liabilities	(54,170)	(64,019)
Unexpired subscriptions	9,394	11,255
Net cash provided by operating activities	110,434	118,590
Cash flows from investing activities
Purchases of marketable securities	(326,996)	(278,773)
Maturities of marketable securities	293,053	228,938
Business acquisitions	0	(8,055)
Sales of investments – net	271	4,074
Capital expenditures	(14,677)	(21,510)
Other-net	2,017	2,388
Net cash used in investing activities	(46,332)	(72,938)
Long-term obligations:
Dividends paid	(21,825)	(18,359)
Capital shares:
Proceeds from stock option exercises	2,441	1,873
Share-based compensation tax withholding	(10,901)	(11,706)
Net cash used in financing activities	(30,285)	(28,192)
Net increase in cash, cash equivalents and restricted cash	33,817	17,460
Effect of exchange rate changes on cash	(280)	162
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	$ 335,501	$ 265,140

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 27, 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 June 27, 2021, and December 27, 2020, and the results of operations, changes in stockholders’ equity and cash flows of the Company for the periods ended June 27, 2021, and June 28, 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 and 26 weeks for the second quarter and six months, respectively. 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	6 Months Ended
	Jun. 27, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Except as described herein, as of June 27, 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 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	6 Months Ended
	Jun. 27, 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, our student subscription sponsorship program and our live events business. Subscription, advertising and other revenues were as follows: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 As % of total June 28, 2020 As % of total June 27, 2021 As % of total June 28, 2020 As % of total Subscription $ 339,217 68.1 % $ 293,189 72.6 % $ 668,301 68.8 % $ 578,623 68.3 % Advertising 112,774 22.6 % 67,760 16.8 % 209,890 21.6 % 173,897 20.5 % Other (1) 46,506 9.3 % 42,801 10.6 % 93,351 9.6 % 94,866 11.2 % Total $ 498,497 100.0 % $ 403,750 100.0 % $ 971,542 100.0 % $ 847,386 100.0 % (1) Other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was approximately $7 million for the second quarters of 2021 and 2020, respectively, and approximately $13 million and $15 million for the first six months of 2021 and 2020, respectively. The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the second quarters and first six months ended June 27, 2021, and June 28, 2020: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Digital-only subscription revenues: News product subscription revenues (1) $ 170,893 $ 132,922 $ 332,181 $ 251,880 Other product subscription revenues (2) 19,252 13,062 37,564 24,114 Subtotal digital-only subscriptions 190,145 145,984 369,745 275,994 Print subscription revenues: Domestic home delivery subscription revenues (3) 134,755 132,971 269,150 266,708 Single-copy, NYT International and other subscription revenues (4) 14,317 14,234 29,406 35,921 Subtotal print subscription revenues 149,072 147,205 298,556 302,629 Total subscription revenues $ 339,217 $ 293,189 $ 668,301 $ 578,623 (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 second quarters and first six months ended June 27, 2021, and June 28, 2020: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Advertising revenues: Digital $ 70,995 $ 39,531 $ 130,491 $ 90,689 Print 41,779 28,229 79,399 83,208 Total advertising $ 112,774 $ 67,760 $ 209,890 $ 173,897 Performance Obligations We have remaining performance obligations related to digital archive and other licensing and certain advertising contracts. As of June 27, 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 $104 million. The Company will recognize this revenue as performance obligations are satisfied. We expect that approximately $24 million, $36 million and $44 million will be recognized in the remainder of 2021, 2022 and thereafter, respectively. Contract Assets As of June 27, 2021, and December 27, 2020, the Company had $1.9 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	6 Months Ended
	Jun. 27, 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 $2.4 million and $4.3 million of net unrealized gains in Accumulated other comprehensive income (“AOCI”) as of June 27, 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 June 27, 2021, and December 27, 2020: June 27, 2021 (In thousands) Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Short-term AFS securities Corporate debt securities $ 110,415 $ 496 $ (12) $ 110,899 Certificates of deposit 105,954 — — 105,954 U.S. Treasury securities 74,984 547 (3) 75,528 U.S. governmental agency securities 26,137 16 — 26,153 Commercial paper 19,921 — — 19,921 Total short-term AFS securities $ 337,411 $ 1,059 $ (15) $ 338,455 Long-term AFS securities Corporate debt securities $ 161,767 $ 725 $ (123) $ 162,369 U.S. Treasury securities 60,377 861 (15) 61,223 U.S. governmental agency securities 51,591 6 (67) 51,530 Municipal securities 12,142 7 (6) 12,143 Total long-term AFS securities $ 285,877 $ 1,599 $ (211) $ 287,265 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 June 27, 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: June 27, 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 $ 28,033 $ (12) $ — $ — $ 28,033 $ (12) U.S. Treasury securities 22,670 (3) — — 22,670 (3) Total short-term AFS securities $ 50,703 $ (15) $ — $ — $ 50,703 $ (15) Long-term AFS securities Corporate debt securities $ 50,552 $ (123) $ — $ — $ 50,552 $ (123) U.S. Treasury securities 11,212 (15) — — 11,212 (15) U.S. governmental agency securities 42,428 (67) — — 42,428 (67) Municipal securities 5,141 (6) — — 5,141 (6) Total long-term AFS securities $ 109,333 $ (211) $ — $ — $ 109,333 $ (211) 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 June 27, 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 June 27, 2021 , and December 27, 2020, we have recognized no losses or allowance for credit losses related to AFS securities. As of June 27, 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	6 Months Ended
	Jun. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangibles	GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill as of June 27, 2021, and since December 27, 2020, were as follows: (In thousands) Total Company Balance as of December 27, 2020 $ 171,657 Foreign currency translation (1,501) Balance as of June 27, 2021 $ 170,156 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 $15.2 million is included in Miscellaneous assets

Investments

Investments	6 Months Ended
	Jun. 27, 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 June 27, 2021, and December 27, 2020, non-marketable equity securities included in Miscellaneous assets in our Condensed Consolidated Balance Sheets had a carrying value of $20.6 million and $20.9 million, respectively. During the first six months 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	6 Months Ended
	Jun. 27, 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 $2.4 million and $3.9 million in the second quarters of 2021 and 2020, respectively, and $5.0 million and $7.7 million in the first six months 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 For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Interest income and other expense, net (1) $ 2,053 $ 2,965 $ 3,743 $ 17,004 Interest expense (180) (179) (359) (364) Total interest income and other, net $ 1,873 $ 2,786 $ 3,384 $ 16,640 (1) The six months ended June 28, 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 June 27, 2021, and December 27, 2020, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows: (In thousands) June 27, 2021 December 27, 2020 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 320,871 $ 286,079 Restricted cash included within other current assets 299 686 Restricted cash included within miscellaneous assets 14,331 15,199 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 335,501 $ 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 June 27, 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 no severance costs in the second quarter of 2021 and $6.3 million in severance costs in the second quarter of 2020, and $0.4 million and $6.7 million in the first six months 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 $2.4 million and $5.0 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of June 27, 2021, and December 27, 2020, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 27, 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 June 27, 2021, and December 27, 2020: (In thousands) June 27, 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 $ 110,899 $ — $ 110,899 $ — $ 130,301 $ — $ 130,301 $ — Certificates of deposit 105,954 — 105,954 — 36,525 — 36,525 — U.S. Treasury securities 75,528 — 75,528 — 79,503 — 79,503 — U.S. governmental agency securities 26,153 — 26,153 — 25,171 — 25,171 — Commercial paper 19,921 — 19,921 — 37,580 — 37,580 — Total short-term AFS securities $ 338,455 $ — $ 338,455 $ — $ 309,080 $ — $ 309,080 $ — Long-term AFS securities (1) Corporate debt securities $ 162,369 $ — $ 162,369 $ — $ 135,934 $ — $ 135,934 $ — U.S. Treasury securities 61,223 — 61,223 — 97,565 — 97,565 — U.S. governmental agency securities 51,530 — 51,530 — 48,348 — 48,348 — Municipal securities 12,143 — 12,143 — 4,984 — 4,984 — Total long-term AFS securities $ 287,265 $ — $ 287,265 $ — $ 286,831 $ — $ 286,831 $ — Liabilities: Deferred compensation (2)(3) $ 19,754 $ 19,754 $ — $ — $ 22,245 $ 22,245 $ — $ — Contingent consideration $ 7,450 $ — $ — $ 7,450 $ 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 $51.1 million as of June 27, 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 changes in the contingent consideration balances for the quarter and six months ended June 27, 2021: Quarter ended Six months ended (In thousands) June 27, 2021 June 27, 2021 Balance at the beginning of the period (1) $ 7,728 $ 8,431 Payments (862) (862) Fair value adjustments (2) 584 (119) Contingent consideration at the end of the period $ 7,450 $ 7,450 (1) There were no transactions involving contingent consideration during the quarter and six months ended June 28, 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 June 27, 2021, and December 27, 2020, of $7.5 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	6 Months Ended
	Jun. 27, 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 June 27, 2021 June 28, 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 1,649 13,391 Expected return on plan assets (12,678) — (12,678) (17,745) — (17,745) Amortization of actuarial loss 5,057 1,822 6,879 5,655 1,522 7,177 Amortization of prior service credit (486) — (486) (486) — (486) Net periodic pension cost (1) $ 1,798 $ 2,910 $ 4,708 $ 1,773 $ 3,171 $ 4,944 For the Six Months Ended June 27, 2021 June 28, 2020 (In thousands) Qualified Non- All Qualified Non- All Service cost $ 4,552 $ — $ 4,552 $ 5,214 $ — $ 5,214 Interest cost 15,258 2,176 17,434 23,484 3,297 26,781 Expected return on plan assets (25,355) — (25,355) (35,481) — (35,481) Amortization of actuarial loss 10,113 3,642 13,755 11,310 3,043 14,353 Amortization of prior service credit (972) — (972) (972) — (972) Net periodic pension cost (1) $ 3,596 $ 5,818 $ 9,414 $ 3,555 $ 6,340 $ 9,895 (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 six months of 2021 and 2020, we made pension contributions of $4.2 million and $4.6 million, respectively, to the APP. We expect contributions in 2021 to total approximately $9 million to satisfy minimum funding requirements. Other Postretirement Benefits The components of net periodic postretirement benefit cost/(income) were as follows: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Service cost $ 13 $ 7 $ 26 $ 14 Interest cost 141 257 282 513 Amortization of actuarial loss 852 763 1,704 1,526 Amortization of prior service credit (836) (1,223) (1,672) (2,279) Net periodic postretirement benefit cost/(income) (1) $ 170 $ (196) $ 340 $ (226) (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	6 Months Ended
	Jun. 27, 2021
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXESThe Company had income tax expense of $18.2 million and $27.7 million in the second quarter and first six months of 2021, respectively. The Company had income tax expense of $5.8 million and $11.8 million in the second quarter and first six months of 2020, respectively. The Company’s effective tax rates from continuing operations were 25.1% and 22.5% for the second quarter and first six months of 2021, respectively. The Company’s effective tax rates from continuing operations were 19.6% and 17.3% for the second quarter and first six months of 2020, respectively. The increase in income tax expense in the second quarter and first six months of 2021 is primarily due to higher income from continuing operations in those periods. The Company received a tax benefit in the second quarter of 2020 from a reduction in the Company’s reserve for uncertain tax positions, and in the first quarter of both 2021 and 2020 from stock price appreciation on stock-based awards that settled in the quarter, which in the case of 2020, resulted in lower than statutory tax rates in the second quarter and first six months of 2020.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 27, 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 0.3 million and 0.5 million in the second quarter and first six months of 2021, respectively, and 1.2 million in each of the second quarter and first six months of 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 0.2 million restricted stock units excluded from the computation of diluted earnings per share in the first six months of 2021 and 2020, respectively, because they were anti-dilutive, and no anti-dilutive stock options or stock-settled long-term performance awards excluded in the same periods. There were approximately 0.3 million restricted stock units excluded from the computation of diluted earnings per share in the second quarter of 2021, because they were anti-dilutive, and no anti-dilutive stock options or stock-settled long-term performance awards excluded in the same period.

Supplemental Stockholders' Equi

Supplemental Stockholders' Equity Information	6 Months Ended
	Jun. 27, 2021
Equity [Abstract]
Supplemental Stockholders' Equity Information	SUPPLEMENTAL STOCKHOLDERS’ EQUITY INFORMATION In 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 June 27, 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 June 27, 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 (1,767) — (1,846) (3,613) Amounts reclassified from accumulated other comprehensive loss, before tax — 12,815 — 12,815 Income tax (benefit)/expense (473) 3,432 (494) 2,465 Net current-period other comprehensive (loss)/ income, net of tax (1,294) 9,383 (1,352) 6,737 Balance as of June 27, 2021 $ 7,092 $ (412,315) $ 1,779 $ (403,444) The following table summarizes the reclassifications from AOCI for the six months ended June 27, 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) $ (2,644) Other components of net periodic benefit costs Amortization of actuarial loss (1) 15,459 Other components of net periodic benefit costs Total reclassification, before tax (2) 12,815 Income tax expense 3,432 Income tax expense Total reclassification, net of tax $ 9,383 (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 six months ended June 27, 2021.

Segment Information

Segment Information	6 Months Ended
	Jun. 27, 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	6 Months Ended
	Jun. 27, 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.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 27, 2021
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTSOn June 30, 2021, our Board of Directors approved a quarterly dividend of $0.07 per share on our Class A and Class B common stock that was paid on July 22, 2021, to all stockholders of record as of the close of business on July 12, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 27, 2021
Accounting Policies [Abstract]
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 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

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 27, 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 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.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 27, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Subscription, advertising and other revenues were as follows: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 As % of total June 28, 2020 As % of total June 27, 2021 As % of total June 28, 2020 As % of total Subscription $ 339,217 68.1 % $ 293,189 72.6 % $ 668,301 68.8 % $ 578,623 68.3 % Advertising 112,774 22.6 % 67,760 16.8 % 209,890 21.6 % 173,897 20.5 % Other (1) 46,506 9.3 % 42,801 10.6 % 93,351 9.6 % 94,866 11.2 % Total $ 498,497 100.0 % $ 403,750 100.0 % $ 971,542 100.0 % $ 847,386 100.0 % (1) Other revenues include building rental revenue, which is not under the scope of Revenue from Contracts with Customers (Topic 606). Building rental revenue was approximately $7 million for the second quarters of 2021 and 2020, respectively, and approximately $13 million and $15 million for the first six months of 2021 and 2020, respectively. The following table summarizes digital and print subscription revenues, which are components of subscription revenues above, for the second quarters and first six months ended June 27, 2021, and June 28, 2020: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Digital-only subscription revenues: News product subscription revenues (1) $ 170,893 $ 132,922 $ 332,181 $ 251,880 Other product subscription revenues (2) 19,252 13,062 37,564 24,114 Subtotal digital-only subscriptions 190,145 145,984 369,745 275,994 Print subscription revenues: Domestic home delivery subscription revenues (3) 134,755 132,971 269,150 266,708 Single-copy, NYT International and other subscription revenues (4) 14,317 14,234 29,406 35,921 Subtotal print subscription revenues 149,072 147,205 298,556 302,629 Total subscription revenues $ 339,217 $ 293,189 $ 668,301 $ 578,623 (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 second quarters and first six months ended June 27, 2021, and June 28, 2020: For the Quarters Ended For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Advertising revenues: Digital $ 70,995 $ 39,531 $ 130,491 $ 90,689 Print 41,779 28,229 79,399 83,208 Total advertising $ 112,774 $ 67,760 $ 209,890 $ 173,897

Marketable Securities (Tables)

Marketable Securities (Tables)	6 Months Ended
	Jun. 27, 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 June 27, 2021, and December 27, 2020: June 27, 2021 (In thousands) Amortized Cost Gross unrealized gains Gross unrealized losses Fair Value Short-term AFS securities Corporate debt securities $ 110,415 $ 496 $ (12) $ 110,899 Certificates of deposit 105,954 — — 105,954 U.S. Treasury securities 74,984 547 (3) 75,528 U.S. governmental agency securities 26,137 16 — 26,153 Commercial paper 19,921 — — 19,921 Total short-term AFS securities $ 337,411 $ 1,059 $ (15) $ 338,455 Long-term AFS securities Corporate debt securities $ 161,767 $ 725 $ (123) $ 162,369 U.S. Treasury securities 60,377 861 (15) 61,223 U.S. governmental agency securities 51,591 6 (67) 51,530 Municipal securities 12,142 7 (6) 12,143 Total long-term AFS securities $ 285,877 $ 1,599 $ (211) $ 287,265 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 June 27, 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: June 27, 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 $ 28,033 $ (12) $ — $ — $ 28,033 $ (12) U.S. Treasury securities 22,670 (3) — — 22,670 (3) Total short-term AFS securities $ 50,703 $ (15) $ — $ — $ 50,703 $ (15) Long-term AFS securities Corporate debt securities $ 50,552 $ (123) $ — $ — $ 50,552 $ (123) U.S. Treasury securities 11,212 (15) — — 11,212 (15) U.S. governmental agency securities 42,428 (67) — — 42,428 (67) Municipal securities 5,141 (6) — — 5,141 (6) Total long-term AFS securities $ 109,333 $ (211) $ — $ — $ 109,333 $ (211) 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)	6 Months Ended
	Jun. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill Balances	The changes in the carrying amount of goodwill as of June 27, 2021, and since December 27, 2020, were as follows: (In thousands) Total Company Balance as of December 27, 2020 $ 171,657 Foreign currency translation (1,501) Balance as of June 27, 2021 $ 170,156

Other (Tables)

Other (Tables)	6 Months Ended
	Jun. 27, 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 For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Interest income and other expense, net (1) $ 2,053 $ 2,965 $ 3,743 $ 17,004 Interest expense (180) (179) (359) (364) Total interest income and other, net $ 1,873 $ 2,786 $ 3,384 $ 16,640
Reconciliation of Cash, Cash Equivalents, and Restricted Cash	A reconciliation of cash, cash equivalents and restricted cash as of June 27, 2021, and December 27, 2020, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows: (In thousands) June 27, 2021 December 27, 2020 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 320,871 $ 286,079 Restricted cash included within other current assets 299 686 Restricted cash included within miscellaneous assets 14,331 15,199 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 335,501 $ 301,964
Restrictions on Cash and Cash Equivalents	A reconciliation of cash, cash equivalents and restricted cash as of June 27, 2021, and December 27, 2020, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows: (In thousands) June 27, 2021 December 27, 2020 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 320,871 $ 286,079 Restricted cash included within other current assets 299 686 Restricted cash included within miscellaneous assets 14,331 15,199 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 335,501 $ 301,964

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 27, 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 June 27, 2021, and December 27, 2020: (In thousands) June 27, 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 $ 110,899 $ — $ 110,899 $ — $ 130,301 $ — $ 130,301 $ — Certificates of deposit 105,954 — 105,954 — 36,525 — 36,525 — U.S. Treasury securities 75,528 — 75,528 — 79,503 — 79,503 — U.S. governmental agency securities 26,153 — 26,153 — 25,171 — 25,171 — Commercial paper 19,921 — 19,921 — 37,580 — 37,580 — Total short-term AFS securities $ 338,455 $ — $ 338,455 $ — $ 309,080 $ — $ 309,080 $ — Long-term AFS securities (1) Corporate debt securities $ 162,369 $ — $ 162,369 $ — $ 135,934 $ — $ 135,934 $ — U.S. Treasury securities 61,223 — 61,223 — 97,565 — 97,565 — U.S. governmental agency securities 51,530 — 51,530 — 48,348 — 48,348 — Municipal securities 12,143 — 12,143 — 4,984 — 4,984 — Total long-term AFS securities $ 287,265 $ — $ 287,265 $ — $ 286,831 $ — $ 286,831 $ — Liabilities: Deferred compensation (2)(3) $ 19,754 $ 19,754 $ — $ — $ 22,245 $ 22,245 $ — $ — Contingent consideration $ 7,450 $ — $ — $ 7,450 $ 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 $51.1 million as of June 27, 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 changes in the contingent consideration balances for the quarter and six months ended June 27, 2021: Quarter ended Six months ended (In thousands) June 27, 2021 June 27, 2021 Balance at the beginning of the period (1) $ 7,728 $ 8,431 Payments (862) (862) Fair value adjustments (2) 584 (119) Contingent consideration at the end of the period $ 7,450 $ 7,450 (1) There were no transactions involving contingent consideration during the quarter and six months ended June 28, 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)	6 Months Ended
	Jun. 27, 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 June 27, 2021 June 28, 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 1,649 13,391 Expected return on plan assets (12,678) — (12,678) (17,745) — (17,745) Amortization of actuarial loss 5,057 1,822 6,879 5,655 1,522 7,177 Amortization of prior service credit (486) — (486) (486) — (486) Net periodic pension cost (1) $ 1,798 $ 2,910 $ 4,708 $ 1,773 $ 3,171 $ 4,944 For the Six Months Ended June 27, 2021 June 28, 2020 (In thousands) Qualified Non- All Qualified Non- All Service cost $ 4,552 $ — $ 4,552 $ 5,214 $ — $ 5,214 Interest cost 15,258 2,176 17,434 23,484 3,297 26,781 Expected return on plan assets (25,355) — (25,355) (35,481) — (35,481) Amortization of actuarial loss 10,113 3,642 13,755 11,310 3,043 14,353 Amortization of prior service credit (972) — (972) (972) — (972) Net periodic pension cost (1) $ 3,596 $ 5,818 $ 9,414 $ 3,555 $ 6,340 $ 9,895 (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 For the Six Months Ended (In thousands) June 27, 2021 June 28, 2020 June 27, 2021 June 28, 2020 Service cost $ 13 $ 7 $ 26 $ 14 Interest cost 141 257 282 513 Amortization of actuarial loss 852 763 1,704 1,526 Amortization of prior service credit (836) (1,223) (1,672) (2,279) Net periodic postretirement benefit cost/(income) (1) $ 170 $ (196) $ 340 $ (226) (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)	6 Months Ended
	Jun. 27, 2021
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	The following table summarizes the changes in AOCI by component as of June 27, 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 (1,767) — (1,846) (3,613) Amounts reclassified from accumulated other comprehensive loss, before tax — 12,815 — 12,815 Income tax (benefit)/expense (473) 3,432 (494) 2,465 Net current-period other comprehensive (loss)/ income, net of tax (1,294) 9,383 (1,352) 6,737 Balance as of June 27, 2021 $ 7,092 $ (412,315) $ 1,779 $ (403,444)
Reclassification out of Accumulated Other Comprehensive Income	The following table summarizes the reclassifications from AOCI for the six months ended June 27, 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) $ (2,644) Other components of net periodic benefit costs Amortization of actuarial loss (1) 15,459 Other components of net periodic benefit costs Total reclassification, before tax (2) 12,815 Income tax expense 3,432 Income tax expense Total reclassification, net of tax $ 9,383 (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 six months ended June 27, 2021.

Revenue - Subscription, Adverti

Revenue - Subscription, Advertising, and Other Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 498,497	$ 403,750	$ 971,542	$ 847,386
Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	100.00%	100.00%	100.00%	100.00%
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	$ 339,217	$ 293,189	$ 668,301	$ 578,623
Subscription | Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	68.10%	72.60%	68.80%	68.30%
Advertising
Disaggregation of Revenue [Line Items]
Total revenues	$ 112,774	$ 67,760	$ 209,890	$ 173,897
Advertising | Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	22.60%	16.80%	21.60%	20.50%
Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 46,506	$ 42,801	$ 93,351	$ 94,866
Other | Product and service benchmark | Product concentration risk
Disaggregation of Revenue [Line Items]
As % of total	9.30%	10.60%	9.60%	11.20%
Real Estate
Disaggregation of Revenue [Line Items]
Revenue not from contract with customer	$ 7,000	$ 7,000	$ 13,000	$ 15,000

Revenue - Digital-only Subscrip

Revenue - Digital-only Subscription Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Disaggregation of Revenue [Line Items]
Total revenues	$ 498,497	$ 403,750	$ 971,542	$ 847,386
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	339,217	293,189	668,301	578,623
Subscription | Digital
Disaggregation of Revenue [Line Items]
Total revenues	190,145	145,984	369,745	275,994
Subscription | Print
Disaggregation of Revenue [Line Items]
Total revenues	149,072	147,205	298,556	302,629
News products | Digital
Disaggregation of Revenue [Line Items]
Total revenues	170,893	132,922	332,181	251,880
Other products | Digital
Disaggregation of Revenue [Line Items]
Total revenues	19,252	13,062	37,564	24,114
Domestic home delivery subscription | Print
Disaggregation of Revenue [Line Items]
Total revenues	134,755	132,971	269,150	266,708
Single copy, NYT International and other | Print
Disaggregation of Revenue [Line Items]
Total revenues	$ 14,317	$ 14,234	$ 29,406	$ 35,921

Revenue - Advertising Revenues

Revenue - Advertising Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Disaggregation of Revenue [Line Items]
Advertising revenue	$ 498,497	$ 403,750	$ 971,542	$ 847,386
Advertising
Disaggregation of Revenue [Line Items]
Advertising revenue	112,774	67,760	209,890	173,897
Digital | Advertising
Disaggregation of Revenue [Line Items]
Advertising revenue	70,995	39,531	130,491	90,689
Print | Advertising
Disaggregation of Revenue [Line Items]
Advertising revenue	$ 41,779	$ 28,229	$ 79,399	$ 83,208

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details) $ in Millions	Jun. 27, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 104
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-06-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 24
Remaining performance obligation, period	6 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	$ 36
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	$ 44
Remaining performance obligation, period

Revenue - Contract Assets (Deta

Revenue - Contract Assets (Details) - USD ($) $ in Millions	Jun. 27, 2021	Dec. 27, 2020
Revenue from Contract with Customer [Abstract]
Contract asset, current	$ 1.9	$ 1.8

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 27, 2021	Dec. 27, 2020
Line of Credit Facility [Line Items]
Net unrealized gains in other comprehensive income	$ 2,400,000	$ 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	Jun. 27, 2021	Dec. 27, 2020
Short-term AFS securities
Amortized cost, short-term AFS securities	$ 337,411	$ 308,490
Gross unrealized gains, short-term AFS securities	1,059	604
Gross unrealized losses, short-term AFS securities	(15)	(14)
Fair value, short-term AFS securities	338,455	309,080
Long-term AFS securities
Amortized cost, long-term AFS securities	285,877	283,143
Gross unrealized gains, long-term AFS securities	1,599	3,716
Gross unrealized losses, long-term AFS securities	(211)	(28)
Fair value, long-term AFS securities	287,265	286,831
Corporate debt securities
Short-term AFS securities
Amortized cost, short-term AFS securities	110,415	129,805
Gross unrealized gains, short-term AFS securities	496	504
Gross unrealized losses, short-term AFS securities	(12)	(8)
Fair value, short-term AFS securities	110,899	130,301
Long-term AFS securities
Amortized cost, long-term AFS securities	161,767	134,296
Gross unrealized gains, long-term AFS securities	725	1,643
Gross unrealized losses, long-term AFS securities	(123)	(5)
Fair value, long-term AFS securities	162,369	135,934
Certificates of deposit
Short-term AFS securities
Amortized cost, short-term AFS securities	105,954	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	105,954	36,525
U.S. Treasury securities
Short-term AFS securities
Amortized cost, short-term AFS securities	74,984	79,467
Gross unrealized gains, short-term AFS securities	547	39
Gross unrealized losses, short-term AFS securities	(3)	(3)
Fair value, short-term AFS securities	75,528	79,503
Long-term AFS securities
Amortized cost, long-term AFS securities	60,377	95,511
Gross unrealized gains, long-term AFS securities	861	2,054
Gross unrealized losses, long-term AFS securities	(15)	0
Fair value, long-term AFS securities	61,223	97,565
U.S. governmental agency securities
Short-term AFS securities
Amortized cost, short-term AFS securities	26,137	25,113
Gross unrealized gains, short-term AFS securities	16	61
Gross unrealized losses, short-term AFS securities	0	(3)
Fair value, short-term AFS securities	26,153	25,171
Long-term AFS securities
Amortized cost, long-term AFS securities	51,591	48,342
Gross unrealized gains, long-term AFS securities	6	19
Gross unrealized losses, long-term AFS securities	(67)	(13)
Fair value, long-term AFS securities	51,530	48,348
Commercial paper
Short-term AFS securities
Amortized cost, short-term AFS securities	19,921	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	19,921	37,580
Municipal securities
Long-term AFS securities
Amortized cost, long-term AFS securities	12,142	4,994
Gross unrealized gains, long-term AFS securities	7	0
Gross unrealized losses, long-term AFS securities	(6)	(10)
Fair value, long-term AFS securities	$ 12,143	$ 4,984

Marketable Securities - Avail_2

Marketable Securities - Available-for-sale Securities - Continuous Loss Position (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Total short-term AFS securities
Short-term AFS securities
Fair value, less than 12 months	$ 50,703	$ 58,867
Gross unrealized losses, less than 12 months	(15)	(13)
Fair value, greater than 12 months	0	8,749
Gross unrealized losses, greater than 12 months	0	(1)
Fair value, total	50,703	67,616
Gross unrealized losses, total	(15)	(14)
Total long-term AFS securities
Long-term AFS securities
Fair value, less than 12 months	109,333	37,937
Gross unrealized losses, less than 12 months	(211)	(28)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	109,333	37,937
Gross unrealized losses, total	(211)	(28)
Corporate debt securities
Short-term AFS securities
Fair value, less than 12 months	28,033	33,735
Gross unrealized losses, less than 12 months	(12)	(8)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	28,033	33,735
Gross unrealized losses, total	(12)	(8)
Long-term AFS securities
Fair value, less than 12 months	50,552	6,717
Gross unrealized losses, less than 12 months	(123)	(5)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	50,552	6,717
Gross unrealized losses, total	(123)	(5)
U.S. Treasury securities
Short-term AFS securities
Fair value, less than 12 months	22,670	20,133
Gross unrealized losses, less than 12 months	(3)	(3)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	22,670	20,133
Gross unrealized losses, total	(3)	(3)
Long-term AFS securities
Fair value, less than 12 months	11,212
Gross unrealized losses, less than 12 months	(15)
Fair value, greater than 12 months	0
Gross unrealized losses, greater than 12 months	0
Fair value, total	11,212
Gross unrealized losses, total	(15)
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	42,428	26,236
Gross unrealized losses, less than 12 months	(67)	(13)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	42,428	26,236
Gross unrealized losses, total	(67)	(13)
Municipal securities
Long-term AFS securities
Fair value, less than 12 months	5,141	4,984
Gross unrealized losses, less than 12 months	(6)	(10)
Fair value, greater than 12 months	0	0
Gross unrealized losses, greater than 12 months	0	0
Fair value, total	5,141	4,984
Gross unrealized losses, total	$ (6)	$ (10)

Goodwill and Intangibles - Narr

Goodwill and Intangibles - Narrative (Details) $ in Millions	Jun. 27, 2021USD ($)
Miscellaneous Assets
Business Acquisition [Line Items]
Intangible assets	$ 15.2

Goodwill and Intangibles - Sche

Goodwill and Intangibles - Schedule of Goodwill Balances (Details) $ in Thousands	6 Months Ended
	Jun. 27, 2021USD ($)
Goodwill [Roll Forward]
Balance as of December 27, 2020	$ 171,657
Foreign currency translation	(1,501)
Balance as of June 27, 2021	$ 170,156

Investments - Non-Marketable Eq

Investments - Non-Marketable Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020	Dec. 27, 2020
Net Investment Income [Line Items]
Equity securities	$ 20,600		$ 20,600		$ 20,900
Interest income and other expense, net	$ 2,053	$ 2,965	$ 3,743	$ 17,004
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		6 Months Ended
	Sep. 30, 2019	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020	Dec. 27, 2020
Other Expense [Line Items]
Severance liability		$ 2,400,000		$ 2,400,000		$ 5,000,000
Severance | Selling, General and Administrative Expenses
Other Expense [Line Items]
Severance costs		0	$ 6,300,000	400,000	$ 6,700,000
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		0
Capitalized Computer Software Costs
Other Expense [Line Items]
Capitalized computer software amortization		$ 2,400,000	$ 3,900,000	$ 5,000,000	$ 7,700,000

Other - Interest Expense and Ot

Other - Interest Expense and Other, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Other Income and Expenses [Abstract]
Interest income and other expense, net	$ 2,053	$ 2,965	$ 3,743	$ 17,004
Interest expense	(180)	(179)	(359)	(364)
Total interest income and other, net	$ 1,873	$ 2,786	$ 3,384	16,640
Gain related to non-marketable equity investment				$ 10,100

Other - Reconciliation of Cash,

Other - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020	Jun. 28, 2020	Dec. 29, 2019
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$ 320,871	$ 286,079
Restricted cash included within other current assets	299	686
Restricted cash included within miscellaneous assets	14,331	15,199
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	$ 335,501	$ 301,964	$ 265,140	$ 247,518

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Dec. 27, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	$ 338,455	$ 309,080
Long-term AFS securities	287,265	286,831
Level 1 | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	19,754	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	7,450	8,431
Fair Value | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation	19,754	22,245
Contingent consideration	7,450	8,431
Debt Securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	338,455	309,080
Long-term AFS securities	287,265	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	338,455	309,080
Long-term AFS securities	287,265	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	110,899	130,301
Long-term AFS securities	162,369	135,934
Corporate debt securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	110,899	130,301
Long-term AFS securities	162,369	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	110,899	130,301
Long-term AFS securities	162,369	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	105,954	36,525
Certificates of deposit | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	105,954	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	105,954	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	75,528	79,503
Long-term AFS securities	61,223	97,565
U.S. Treasury securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	75,528	79,503
Long-term AFS securities	61,223	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	75,528	79,503
Long-term AFS securities	61,223	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	26,153	25,171
Long-term AFS securities	51,530	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	26,153	25,171
Long-term AFS securities	51,530	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	19,921	37,580
Commercial paper | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term AFS securities	19,921	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	19,921	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	12,143	4,984
Municipal securities | Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term AFS securities	12,143	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	12,143	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	$ 51,100	$ 49,200

Fair Value Measurements - Chang

Fair Value Measurements - Change in Balance of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 27, 2021	Jun. 27, 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	$ 7,450	$ 7,450	$ 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	7,728	8,431
Payments	(862)	(862)
Fair value adjustments	584	(119)
Contingent consideration at the end of the period	$ 7,450	$ 7,450

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		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Pension Benefits
Service cost	$ 2,276	$ 2,607	$ 4,552	$ 5,214
Interest cost	8,717	13,391	17,434	26,781
Expected return on plan assets	(12,678)	(17,745)	(25,355)	(35,481)
Amortization of actuarial loss	6,879	7,177	13,755	14,353
Amortization of prior service credit	(486)	(486)	(972)	(972)
Net periodic postretirement benefit cost/(income)	4,708	4,944	9,414	9,895
Qualified Plans
Pension Benefits
Service cost	2,276	2,607	4,552	5,214
Interest cost	7,629	11,742	15,258	23,484
Expected return on plan assets	(12,678)	(17,745)	(25,355)	(35,481)
Amortization of actuarial loss	5,057	5,655	10,113	11,310
Amortization of prior service credit	(486)	(486)	(972)	(972)
Net periodic postretirement benefit cost/(income)	1,798	1,773	3,596	3,555
Pension contributions			4,200	4,600
Expected future employer contributions	9,000		9,000
Non- Qualified Plans
Pension Benefits
Service cost	0	0	0	0
Interest cost	1,088	1,649	2,176	3,297
Expected return on plan assets	0	0	0	0
Amortization of actuarial loss	1,822	1,522	3,642	3,043
Amortization of prior service credit	0	0	0	0
Net periodic postretirement benefit cost/(income)	$ 2,910	$ 3,171	$ 5,818	$ 6,340

Pension and Other Postretirem_4

Pension and Other Postretirement Benefits - Other Postretirement Benefits (Details) - Other Postretirement Benefit Plan - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Pension Benefits
Service cost	$ 13	$ 7	$ 26	$ 14
Interest cost	141	257	282	513
Amortization of actuarial loss	852	763	1,704	1,526
Amortization of prior service credit	(836)	(1,223)	(1,672)	(2,279)
Net periodic postretirement benefit cost/(income)	$ 170	$ (196)	$ 340	$ (226)

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Income Tax Disclosure [Abstract]
Income tax expense	$ 18,243	$ 5,781	$ 27,704	$ 11,787
Effective income tax rate from continuing operations	25.10%	19.60%	22.50%	17.30%

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	300,000	1,200,000	500,000	1,200,000
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)	300,000		200,000	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	0

Supplemental Stockholders' Eq_3

Supplemental Stockholders' Equity Information - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 27, 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		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	$ 1,355,462	$ 1,193,574	$ 1,328,111	$ 1,173,863
Income tax (benefit)/expense	1,756	2,848	2,465	4,763
Other comprehensive income, net of tax	4,809	8,077	6,737	13,020
Balance, end of period	1,418,787	1,231,031	1,418,787	1,231,031
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period			8,386
Other comprehensive income before reclassifications, before tax			(1,767)
Amounts reclassified from accumulated other comprehensive loss, before tax			0
Income tax (benefit)/expense			(473)
Other comprehensive income, net of tax			(1,294)
Balance, end of period	7,092		7,092
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			12,815
Income tax (benefit)/expense			3,432
Other comprehensive income, net of tax			9,383
Balance, end of period	(412,315)		(412,315)
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			(1,846)
Amounts reclassified from accumulated other comprehensive loss, before tax			0
Income tax (benefit)/expense			(494)
Other comprehensive income, net of tax			(1,352)
Balance, end of period	1,779		1,779
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance, beginning of period	(408,253)	(490,033)	(410,181)	(494,976)
Other comprehensive income before reclassifications, before tax			(3,613)
Amounts reclassified from accumulated other comprehensive loss, before tax			12,815
Income tax (benefit)/expense			2,465
Other comprehensive income, net of tax	4,809	8,077	6,737	13,020
Balance, end of period	$ (403,444)	$ (481,956)	$ (403,444)	$ (481,956)

Supplemental Stockholders' Eq_5

Supplemental Stockholders' Equity Information - Reclassifications Out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of revenue (excluding depreciation and amortization)	$ 2,598	$ 2,149	$ 5,197	$ 4,463
Total reclassification, before tax	72,560	29,443	123,130	68,303
Income tax expense	18,243	5,781	27,704	11,787
Total reclassification, net of tax	$ 54,317	$ 23,662	95,426	$ 56,516
Amounts reclassified from accumulated other comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassification, before tax			12,815
Income tax expense			3,432
Total reclassification, net of tax			9,383
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)			(2,644)
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)			$ 15,459

Segment Information (Details)

Segment Information (Details)	6 Months Ended
	Jun. 27, 2021segment
Segment Reporting [Abstract]
Number of reportable segments (in segments)	1

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Jun. 30, 2021	Jun. 27, 2021	Jun. 28, 2020	Jun. 27, 2021	Jun. 28, 2020
Subsequent Event [Line Items]
Dividends declared per share (in usd per share)		$ 0	$ 0	$ 0.07	$ 0.06
Class A Common Stock | Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in usd per share)	$ 0.07
Class B Common Stock | Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in usd per share)	$ 0.07