2019 Q3 Form 10-Q Financial Statement

#000007169119000018 Filed on November 06, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $428.5M $502.7M $414.6M
YoY Change 3.36% 3.85% 7.5%
Cost Of Revenue $0.00 $180.5M $163.4M
YoY Change -100.0% 10.6% 8.84%
Gross Profit $428.5M $322.2M $251.1M
YoY Change 70.63% 0.41% 6.64%
Gross Profit Margin 100.0% 64.09% 60.58%
Selling, General & Admin $0.00 $229.3M $202.5M
YoY Change -100.0% 6.31% 9.18%
% of Gross Profit 0.0% 71.17% 80.63%
Research & Development $26.67M
YoY Change
% of Gross Profit 6.22%
Depreciation & Amortization $15.40M $15.00M $14.10M
YoY Change 9.22% 0.67% -10.19%
% of Gross Profit 3.59% 4.66% 5.61%
Operating Expenses $26.67M $244.4M $202.5M
YoY Change -86.83% 5.94% 9.18%
Operating Profit $25.09M $74.67M $41.44M
YoY Change -39.47% -17.22% 30.24%
Interest Expense -$2.000M -$2.300M -$3.700M
YoY Change -45.95% -39.47% -5.13%
% of Operating Profit -7.97% -3.08% -8.93%
Other Income/Expense, Net $1.300M -$900.0K -$800.0K
YoY Change -262.5% 12.5% 0.0%
Pretax Income $22.50M $80.27M $35.07M
YoY Change -35.84% 1443.56% -41.47%
Income Tax $6.070M $23.29M $10.09M
% Of Pretax Income 26.98% 29.02% 28.78%
Net Earnings $16.43M $55.20M $24.98M
YoY Change -34.23% -197.18% -22.74%
Net Earnings / Revenue 3.83% 10.98% 6.02%
Basic Earnings Per Share $0.10 $0.33 $0.15
Diluted Earnings Per Share $0.10 $0.33 $0.15
COMMON SHARES
Basic Shares Outstanding 166.1M shares 165.2M shares 165.1M shares
Diluted Shares Outstanding 167.6M shares 167.2M shares 167.0M shares

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $660.7M $612.8M $530.3M
YoY Change 24.59% 24.68% -8.74%
Cash & Equivalents $283.8M $241.5M $206.2M
Short-Term Investments $376.9M $371.3M $293.8M
Other Short-Term Assets $50.11M $33.33M $43.67M
YoY Change 14.75% -33.96% 65.01%
Inventory
Prepaid Expenses $31.44M $25.35M $26.71M
Receivables $167.1M $222.5M $157.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $909.3M $893.9M $782.6M
YoY Change 16.18% 19.24% 1.94%
LONG-TERM ASSETS
Property, Plant & Equipment $627.1M $638.8M $646.0M
YoY Change -2.93% -0.33% 4.38%
Goodwill $137.3M $140.3M $141.3M
YoY Change -2.84% -2.28% -1.33%
Intangibles
YoY Change
Long-Term Investments $217.3M $213.6M $248.8M
YoY Change -12.66% -12.13% -5.15%
Other Assets $239.7M $182.1M $184.8M
YoY Change 29.71% 6.38% 18.1%
Total Long-Term Assets $1.346B $1.303B $1.359B
YoY Change -0.96% -3.47% -7.64%
TOTAL ASSETS
Total Short-Term Assets $909.3M $893.9M $782.6M
Total Long-Term Assets $1.346B $1.303B $1.359B
Total Assets $2.255B $2.197B $2.141B
YoY Change 5.3% 4.64% -4.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $106.9M $111.6M $113.8M
YoY Change -6.13% -11.1% -2.46%
Accrued Expenses $120.9M $119.5M $116.1M
YoY Change 4.1% 8.17% -13.6%
Deferred Revenue $86.75M $84.04M $81.87M
YoY Change 5.96% 11.98%
Short-Term Debt $246.2M $253.6M $0.00
YoY Change
Long-Term Debt Due $246.2M $253.6M
YoY Change
Total Short-Term Liabilities $659.8M $673.3M $403.0M
YoY Change 63.73% 61.99% -3.75%
LONG-TERM LIABILITIES
Long-Term Debt $246.0M $247.0M $246.0M
YoY Change 0.0% 1.65% 1.41%
Other Long-Term Liabilities $126.5M $77.85M $76.79M
YoY Change 64.67% -5.43% -2.47%
Total Long-Term Liabilities $497.4M $481.2M $731.8M
YoY Change -32.02% -38.84% -18.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $659.8M $673.3M $403.0M
Total Long-Term Liabilities $497.4M $481.2M $731.8M
Total Liabilities $1.157B $1.154B $1.135B
YoY Change 1.98% -3.99% -14.06%
SHAREHOLDERS EQUITY
Retained Earnings $1.553B $1.506B $1.457B
YoY Change 6.54% 14.95% 6.11%
Common Stock $203.3M $206.3M $204.5M
YoY Change -0.6% 25.59% 27.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $171.2M $171.2M $171.2M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $1.096B $1.041B $1.007B
YoY Change
Total Liabilities & Shareholders Equity $2.255B $2.197B $2.141B
YoY Change 5.3% 4.64% -4.36%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $16.43M $55.20M $24.98M
YoY Change -34.23% -197.18% -22.74%
Depreciation, Depletion And Amortization $15.40M $15.00M $14.10M
YoY Change 9.22% 0.67% -10.19%
Cash From Operating Activities $57.60M $40.70M $59.80M
YoY Change -3.68% -166.5% 23.55%
INVESTING ACTIVITIES
Capital Expenditures -$10.00M -$15.50M -$20.60M
YoY Change -51.46% -58.11% -21.97%
Acquisitions
YoY Change
Other Investing Activities -$3.700M $18.20M -$8.800M
YoY Change -57.95% -57.18% -152.07%
Cash From Investing Activities -$13.80M $2.700M -$29.60M
YoY Change -53.38% -50.91% 211.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.20M -7.600M -6.800M
YoY Change 123.53% 20.63% 25.93%
NET CHANGE
Cash From Operating Activities 57.60M 40.70M 59.80M
Cash From Investing Activities -13.80M 2.700M -29.60M
Cash From Financing Activities -15.20M -7.600M -6.800M
Net Change In Cash 28.60M 35.80M 23.40M
YoY Change 22.22% -157.74% -30.15%
FREE CASH FLOW
Cash From Operating Activities $57.60M $40.70M $59.80M
Capital Expenditures -$10.00M -$15.50M -$20.60M
Free Cash Flow $67.60M $56.20M $80.40M
YoY Change -15.92% -332.23% 7.49%

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35066000 USD
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95826000 USD
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us-gaap Net Income Loss
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CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Earnings Per Share Basic
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0.15
us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Profit Loss
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71754000 USD
us-gaap Profit Loss
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284000 USD
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OtherComprehensiveIncomeLossBeforeTax
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5535000 USD
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OtherComprehensiveIncomeLossNetOfTax
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OtherComprehensiveIncomeLossNetOfTax
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ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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ComprehensiveIncomeNetOfTax
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ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
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ProfitLoss
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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23994000 USD
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CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2019Q3 us-gaap Revenue Remaining Performance Obligation
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CY2019Q3 us-gaap Revenue Remaining Performance Obligation
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CY2019Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
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CY2019Q3 us-gaap Revenue Remaining Performance Obligation
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1200000 USD
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CY2019Q3 nyt Debt Securities Availableforsale Gross Unrealized Losses Current
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CY2019Q3 nyt Debt Securities Availableforsale Securities Current
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CY2019Q3 nyt Debt Securities Availableforsale Gross Unrealized Gain Non Current
DebtSecuritiesAvailableforsaleGrossUnrealizedGainNonCurrent
844000 USD
CY2019Q3 nyt Debt Securities Availableforsale Gross Unrealized Losses Non Current
DebtSecuritiesAvailableforsaleGrossUnrealizedLossesNonCurrent
139000 USD
CY2019Q3 nyt Debt Securities Availableforsale Securities Non Current
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CY2018Q4 us-gaap Debt Securities Available For Sale Amortized Cost Current
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CY2018Q4 nyt Debt Securities Availableforsale Gross Unrealized Gains Current
DebtSecuritiesAvailableforsaleGrossUnrealizedGainsCurrent
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CY2018Q4 nyt Debt Securities Availableforsale Gross Unrealized Losses Current
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1350000 USD
CY2018Q4 nyt Debt Securities Availableforsale Securities Current
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CY2018Q4 nyt Debt Securities Availableforsale Gross Unrealized Gain Non Current
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CY2018Q4 nyt Debt Securities Availableforsale Gross Unrealized Losses Non Current
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1547000 USD
CY2018Q4 nyt Debt Securities Availableforsale Securities Non Current
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nyt Otherthan Temporary Impairment Losses Investments Debt Securities Availableforsale Securities
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0 USD
CY2018Q4 us-gaap Goodwill
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us-gaap Goodwill Foreign Currency Translation Gain Loss
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CY2019Q3 us-gaap Goodwill
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CY2019Q3 us-gaap Equity Securities Fv Ni Cost
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CY2018Q4 us-gaap Equity Securities Fv Ni Cost
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us-gaap Investment Income Interest
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CY2018Q3 us-gaap Interest Income Expense Net
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
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CY2009Q1 us-gaap Net Rentable Area
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253630000 USD
CY2019Q3 nyt Debt Instrument Noncash Reductionto Principal Amount
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4700000 USD
CY2019Q3 us-gaap Interest Expense Debt Excluding Amortization
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CY2018Q3 us-gaap Interest Expense Debt Excluding Amortization
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us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
21314000 USD
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
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CY2019Q3 us-gaap Amortization Of Debt Discount Premium
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CY2018Q3 us-gaap Amortization Of Debt Discount Premium
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839000 USD
us-gaap Amortization Of Debt Discount Premium
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us-gaap Amortization Of Debt Discount Premium
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2528000 USD
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InterestPaidCapitalized
7000 USD
CY2018Q3 us-gaap Interest Paid Capitalized
InterestPaidCapitalized
38000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
59000 USD
us-gaap Interest Paid Capitalized
InterestPaidCapitalized
412000 USD
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
5078000 USD
CY2018Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
3836000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
17093000 USD
CY2019Q3 us-gaap Advertising Expense
AdvertisingExpense
38400000 USD
CY2018Q3 us-gaap Advertising Expense
AdvertisingExpense
40400000 USD
us-gaap Advertising Expense
AdvertisingExpense
122500000 USD
us-gaap Advertising Expense
AdvertisingExpense
107600000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
283795000 USD
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
241504000 USD
CY2019Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
613000 USD
CY2018Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
642000 USD
CY2019Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
16392000 USD
CY2018Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
17653000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
300800000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259799000 USD
CY2019Q3 nyt Impairment And Severance
ImpairmentAndSeverance
4000000.0 USD
CY2019Q3 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
8100000 USD
CY2018Q4 us-gaap Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
8300000 USD
CY2019Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
246000000 USD
CY2018Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
247000000 USD
CY2019Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
246000000 USD
CY2018Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
260000000 USD
CY2019Q3 nyt Multiemployer Plans Gain Loss On Withdrawal Obligation
MultiemployerPlansGainLossOnWithdrawalObligation
2000000.0 USD
CY2018Q3 nyt Multiemployer Plans Gain Loss On Withdrawal Obligation
MultiemployerPlansGainLossOnWithdrawalObligation
4900000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16800000 USD
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10100000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25300000 USD
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.270
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.190
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.288
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.264
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1400000 shares
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1900000 shares
CY2019Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
16200000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
54909000 USD
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
7733000 USD
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
56156000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
63889000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
6818000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
60988000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y10M24D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0465
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2284000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9808000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9026000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8577000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
7970000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
41899000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
79564000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15675000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
63889000 USD
CY2019Q3 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6900000 USD
nyt Office Space Leased To Third Parties
OfficeSpaceLeasedToThirdParties
0.39
CY2019Q3 us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
7887000 USD
us-gaap Rental Income Nonoperating
RentalIncomeNonoperating
22962000 USD
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
3000000.0 USD
us-gaap Sublease Income
SubleaseIncome
8800000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
7590000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
32242000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
32259000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
32254000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
19329000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
142162000 USD
CY2019Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
265836000 USD
CY2016Q3 nyt Multi Employer Plans Pension Withdrawal Expense
MultiEmployerPlansPensionWithdrawalExpense
5000000.0 USD
CY2019Q3 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
2000000.0 USD
CY2019Q3 nyt Lettersof Credit Total Amount
LettersofCreditTotalAmount
42400000 USD
CY2018Q4 nyt Lettersof Credit Total Amount
LettersofCreditTotalAmount
48800000 USD

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