New York Times Earnings 2020-06-28

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 28, 2020

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ___ to ___

Commission file number 1-5837

THE NEW YORK TIMES COMPANY

(Exact name of registrant as specified in its charter)



New York		13-1102020
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

620 Eighth Avenue, New York, New York 10018

(Address and zip code of principal executive offices)

Registrant’s telephone number, including area code 212-556-1234

Securities registered pursuant to Section 12(b) of the Act:



Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A Common Stock	NYT	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.



Large accelerated filer	☒	Accelerated filer	☐	Non-accelerated filer	☐
Smaller reporting company	☐	Emerging growth company	☐

If an emerging growth company, indicate by the check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x

Number of shares of each class of the registrant’s common stock outstanding as of July 31, 2020 (exclusive of treasury shares):



Class A Common Stock	165,953,189	shares
Class B Common Stock	801,884	shares

THE NEW YORK TIMES COMPANY

INDEX




PART I		Financial Information	1
Item	1	Financial Statements	1
		Condensed Consolidated Balance Sheets as of June 28, 2020 (unaudited) and December 29, 2019	1
		Condensed Consolidated Statements of Operations (unaudited) for the quarters and six months ended June 28, 2020 and June 30, 2019	3
		Condensed Consolidated Statements of Comprehensive Income (unaudited) for the quarters and six months ended June 28, 2020 and June 30, 2019	4
		Condensed Consolidated Statements of Changes In Stockholders’ Equity (unaudited) for the quarters and six months ended June 28, 2020 and June 30, 2019	5
		Condensed Consolidated Statements of Cash Flows (unaudited) for the six months ended June 28, 2020 and June 30, 2019	7
		Notes to the Condensed Consolidated Financial Statements	8
Item	2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	23
Item	3	Quantitative and Qualitative Disclosures about Market Risk	36
Item	4	Controls and Procedures	37

PART II		Other Information	38
Item	1	Legal Proceedings	38
Item	1A	Risk Factors	38
Item	2	Unregistered Sales of Equity Securities and Use of Proceeds	39
Item	6	Exhibits	40

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)



	June 28, 2020		December 29, 2019
	(Unaudited)
Assets
Current assets
Cash and cash equivalents	$	249,312	$	230,431
Short-term marketable securities	240,400		201,785
Accounts receivable (net of allowances of $13,646 in 2020 and $14,358 in 2019)	122,092		213,402
Prepaid expenses	28,382		29,089
Other current assets	42,331		42,124
Total current assets	682,517		716,831
Other assets
Long-term marketable securities	266,946		251,696
Property, plant and equipment (less accumulated depreciation and amortization of $978,828 in 2020 and $950,881 in 2019)	611,998		627,121
Goodwill	144,767		138,674
Deferred income taxes	111,355		115,229
Miscellaneous assets	240,774		239,587
Total assets	$	2,058,357	$	2,089,138

See Notes to Condensed Consolidated Financial Statements.

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS-(Continued)

(In thousands, except share and per share data)



	June 28, 2020			December 29, 2019
	(Unaudited)
Liabilities and stockholders’ equity
Current liabilities
Accounts payable	$	70,692		$	116,571
Accrued payroll and other related liabilities	66,004			108,865
Unexpired subscriptions revenue	99,674			88,419
Accrued expenses and other	134,742			123,840
Total current liabilities	371,112			437,695
Other liabilities
Pension benefits obligation	294,470			313,655
Postretirement benefits obligation	35,935			37,688
Other	125,809			126,237
Total other liabilities	456,214			477,580
Stockholders’ equity
Common stock of $.10 par value:
Class A – authorized: 300,000,000 shares; issued: 2020 – 174,820,777; 2019 – 174,242,668 (including treasury shares: 2020 – 8,870,801; 2019 – 8,870,801)	17,482			17,424
Class B – convertible – authorized and issued shares: 2020 – 803,404; 2019 – 803,404	80			80
Additional paid-in capital	205,618			208,028
Retained earnings	1,659,158			1,612,658
Common stock held in treasury, at cost	(171,211		)	(171,211		)
Accumulated other comprehensive loss, net of income taxes:
Foreign currency translation adjustments	3,706			3,438
Funded status of benefit plans	(489,748		)	(498,986		)
Net unrealized gain on available-for-sale securities	4,086			572
Total accumulated other comprehensive loss, net of income taxes	(481,956		)	(494,976		)
Total New York Times Company stockholders’ equity	1,229,171			1,172,003
Noncontrolling interest	1,860			1,860
Total stockholders’ equity	1,231,031			1,173,863
Total liabilities and stockholders’ equity	$	2,058,357		$	2,089,138

See Notes to Condensed Consolidated Financial Statements.

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except per share data)



	For the Quarters Ended					For the Six Months Ended
	June 28, 2020		June 30, 2019			June 28, 2020		June 30, 2019
	(13 weeks)					(26 weeks)
Revenues
Subscription	$	293,189	$	270,456		$	578,623	$	541,266
Advertising	67,760		120,761			173,897		245,849
Other	42,801		45,041			94,866		88,205
Total revenues	403,750		436,258			847,386		875,320
Operating costs
Cost of revenue (excluding depreciation and amortization)	230,147		245,195			473,819		484,554
Sales and marketing	39,617		62,289			113,413		137,109
Product development	30,737		25,261			61,539		48,989
General and administrative	58,812		50,400			111,673		102,039
Depreciation and amortization	15,631		15,180			30,816		30,098
Total operating costs	374,944		398,325			791,260		802,789
Operating profit	28,806		37,933			56,126		72,531
Other components of net periodic benefit costs	2,149		1,833			4,463		3,668
Interest income/(expense) and other, net	2,786		(1,514		)	16,640		(2,817		)
Income from continuing operations before income taxes	29,443		34,586			68,303		66,046
Income tax expense	5,781		9,415			11,787		10,719
Net income	23,662		25,171			56,516		55,327
Net income attributable to The New York Times Company common stockholders	$	23,662	$	25,171		$	56,516	$	55,327
Average number of common shares outstanding:
Basic	166,869		166,152			166,725		165,915
Diluted	168,083		167,549			167,968		167,322
Basic earnings per share attributable to The New York Times Company common stockholders	$	0.14	$	0.15		$	0.34	$	0.33
Diluted earnings per share attributable to The New York Times Company common stockholders	$	0.14	$	0.15		$	0.34	$	0.33
Dividends declared per share	$	—	$	0.05		$	0.06	$	0.10

See Notes to Condensed Consolidated Financial Statements.

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

(In thousands)



	For the Quarters Ended				For the Six Months Ended
	June 28, 2020		June 30, 2019		June 28, 2020		June 30, 2019
	(13 weeks)				(26 weeks)
Net income	$	23,662	$	25,171	$	56,516	$	55,327
Other comprehensive income, before tax:
Income/(loss) on foreign currency translation adjustments	619		1,522		365		(127		)
Pension and postretirement benefits obligation	6,231		4,896		12,628		9,792
Net unrealized gain on available-for-sale securities	4,075		1,415		4,790		3,489
Other comprehensive income, before tax	10,925		7,833		17,783		13,154
Income tax expense	2,848		2,015		4,763		3,414
Other comprehensive income, net of tax	8,077		5,818		13,020		9,740
Comprehensive income attributable to The New York Times Company common stockholders	$	31,739	$	30,989	$	69,536	$	65,067

See Notes to Condensed Consolidated Financial Statements.

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

For the Quarters Ended June 28, 2020 and June 30, 2019

(Unaudited)

(In thousands, except share data)



	Capital Stock - Class A and Class B Common		Additional Paid-in Capital			Retained Earnings			Common Stock Held in Treasury, at Cost			Accumulated Other Comprehensive Loss, Net of Income Taxes			Total New York Times Company Stockholders’ Equity			Non- controlling Interest		Total Stock- holders’ Equity

Balance, March 31, 2019	$	17,482	$	197,626		$	1,527,859		$	(171,211	)	$	(513,802	)	$	1,057,954		$	1,860	$	1,059,814
Net income	—		—			25,171			—			—			25,171			—		25,171
Dividends	—		—			(8,336		)	—			—			(8,336		)	—		(8,336		)
Other comprehensive income	—		—			—			—			5,818			5,818			—		5,818
Issuance of shares:
Restricted stock units vested – 59,967 Class A shares	6		(279		)	—			—			—			(273		)	—		(273		)
Stock-based compensation	—		3,009			—			—			—			3,009			—		3,009
Balance, June 30, 2019	$	17,488	$	200,356		$	1,544,694		$	(171,211	)	$	(507,984	)	$	1,083,343		$	1,860	$	1,085,203

Balance, March 29, 2020	$	17,552	$	199,933		$	1,635,473		$	(171,211	)	$	(490,033	)	$	1,191,714		$	1,860	$	1,193,574
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 – 90,735 Class A shares	9		933			—			—			—			942			—		942
Restricted stock units vested – 6,516 Class A shares	1		(275		)	—			—			—			(274		)	—		(274		)
Stock-based compensation	—		5,027			—			—			—			5,027			—		5,027
Balance, June 28, 2020	$	17,562	$	205,618		$	1,659,158		$	(171,211	)	$	(481,956	)	$	1,229,171		$	1,860	$	1,231,031

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

For the Six Months Ended June 28, 2020 and June 30, 2019

(Unaudited)

(In thousands, except share data)



	Capital Stock - Class A and Class B Common		Additional Paid-in Capital			Retained Earnings			Common Stock Held in Treasury, at Cost			Accumulated Other Comprehensive Loss, Net of Income Taxes			Total New York Times Company Stockholders’ Equity			Non- controlling Interest		Total Stock- holders’ Equity

Balance, December 30, 2018	$	17,396	$	206,316		$	1,506,004		$	(171,211	)	$	(517,724	)	$	1,040,781		$	1,860	$	1,042,641
Net income	—		—			55,327			—			—			55,327			—		55,327
Dividends	—		—			(16,637		)	—			—			(16,637		)	—		(16,637		)
Other comprehensive income	—		—			—			—			9,740			9,740			—		9,740
Issuance of shares:
Stock options – 279,510 Class A shares	28		2,937			—			—			—			2,965			—		2,965
Restricted stock units vested – 221,087 Class A shares	22		(3,747		)	—			—			—			(3,725		)	—		(3,725		)
Performance-based awards – 418,491 Class A shares	42		(11,966		)	—			—			—			(11,924		)	—		(11,924		)
Stock-based compensation	—		6,816			—			—			—			6,816			—		6,816
Balance, June 30, 2019	$	17,488	$	200,356		$	1,544,694		$	(171,211	)	$	(507,984	)	$	1,083,343		$	1,860	$	1,085,203

Balance, December 29, 2019	$	17,504	$	208,028		$	1,612,658		$	(171,211	)	$	(494,976	)	$	1,172,003		$	1,860	$	1,173,863
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 – 179,510 Class A shares	18		1,855			—			—			—			1,873			—		1,873
Restricted stock units vested – 141,501 Class A shares	14		(3,897		)	—			—			—			(3,883		)	—		(3,883		)
Performance-based awards – 257,098 Class A shares	26		(7,850		)	—			—			—			(7,824		)	—		(7,824		)
Stock-based compensation	—		7,482			—			—			—			7,482			—		7,482
Balance, June 28, 2020	$	17,562	$	205,618		$	1,659,158		$	(171,211	)	$	(481,956	)	$	1,229,171		$	1,860	$	1,231,031

THE NEW YORK TIMES COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

(In thousands)



	For the Six Months Ended
	June 28, 2020			June 30, 2019
	(26 weeks)
Cash flows from operating activities
Net income	$	56,516		$	55,327
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	30,816			30,098
Amortization of right of use asset	4,645			3,520
Stock-based compensation expense	7,482			6,826
Deferred income taxes	(1,209		)	—
Gain on non-marketable equity investment	(10,074		)	(1,886		)
Long-term retirement benefit obligations	(8,524		)	(11,574		)
Fair market value adjustment on life insurance products	170			(2,048		)
Other-net	1,514			(7,801		)
Changes in operating assets and liabilities:
Accounts receivable-net	91,310			59,673
Other assets	(1,292		)	(14,555		)
Accounts payable, accrued payroll and other liabilities	(64,019		)	(57,217		)
Unexpired subscriptions	11,255			3,637
Net cash provided by operating activities	118,590			64,000
Cash flows from investing activities
Purchases of marketable securities	(278,773		)	(225,765		)
Maturities of marketable securities	228,938			223,327
Business acquisitions	(8,055		)	—
Proceeds from sale of investments – net	4,074			110
Capital expenditures	(21,510		)	(23,065		)
Other-net	2,388			1,872
Net cash used in investing activities	(72,938		)	(23,521		)
Cash flows from financing activities
Long-term obligations:
Repayment of debt and finance lease obligations	—			(230		)
Dividends paid	(18,359		)	(14,936		)
Capital shares:
Proceeds from stock option exercises	1,873			2,965
Share-based compensation tax withholding	(11,706		)	(15,649		)
Net cash used in financing activities	(28,192		)	(27,850		)
Net increase in cash, cash equivalents and restricted cash	17,460			12,629
Effect of exchange rate changes on cash	162			305
Cash, cash equivalents and restricted cash at the beginning of the period	247,518			259,799
Cash, cash equivalents and restricted cash at the end of the period	$	265,140		$	272,733

See Notes to Condensed Consolidated Financial Statements.

THE NEW YORK TIMES COMPANY

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

NOTE 1. 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 28, 2020 and December 29, 2019, and the results of operations, changes in stockholders’ equity and cash flows of the Company for the periods ended June 28, 2020, and June 30, 2019. 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 29, 2019. Due to the seasonal nature of our business, operating results for the interim periods are not necessarily indicative of a full year’s operations. The fiscal periods included herein comprise 13 weeks 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.

Reclassification

The Company has changed the expense captions on its Condensed Consolidated Statement of Operations effective for the quarter ended March 29, 2020. These changes were made in order to reflect how the Company manages its business and to communicate where the Company is investing resources and how this aligns with the Company’s strategy. The Company has reclassified expenses for the prior period in order to present comparable financial results. There is no change to consolidated operating income, operating expense, net income or cash flows as a result of this change in classification. See Note 15 for more detail.

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Except as described herein, as of June 28, 2020, our significant accounting policies, which are detailed in our Annual Report on Form 10-K for the year ended December 29, 2019, have not changed materially.

THE NEW YORK TIMES COMPANY

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Recently Adopted Accounting Pronouncements



Accounting Standard Update(s)	Topic	Effective Period	Summary
2018-15	Intangibles—Goodwill and Other—Internal-Use Software	Fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted.	Clarifies the accounting for implementation costs in cloud computing arrangements. The standard provides that implementation costs be evaluated for capitalization using the same criteria as that used for internal-use software development costs, with amortization expense being recorded in the same income statement expense line as the hosted service costs and over the expected term of the hosting arrangement. The Company adopted this ASU prospectively on December 30, 2019 and will include capitalized implementation costs in Miscellaneous assets in the Company’s Condensed Consolidated Balance Sheet and within Total operating costs in the Condensed Consolidated Statement of Operations. The adoption did not have a material impact on the Company’s consolidated financial statements.
2018-13	Fair Value Measurement (Topic 820) Disclosure Framework	Fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted.	Modifies the disclosure requirements on fair value measurements. The amendments of disclosures related to changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company adopted this ASU on December 30, 2019. The adoption did not have a material impact on the Company’s disclosures.
2016-13 2018-19 2019-04	Financial Instruments—Credit Losses	Fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years.	Amends guidance on reporting credit losses for assets, including trade receivables, available-for-sale marketable securities and any other financial assets not excluded from the scope that have the contractual right to receive cash. For trade receivables, ASU 2016-13 eliminates the probable initial recognition threshold in current generally accepted accounting standards, and, instead, requires an entity to reflect its current estimate of all expected credit losses. For available-for-sale marketable securities, credit losses should be measured in a manner similar to current generally accepted accounting standards; however, ASU 2016-13 will require that credit losses be presented as an allowance rather than as a write-down. The Company adopted this ASU on December 30, 2019 using a modified retrospective approach. The adoption did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements

The Financial Accounting Standards Board (the “FASB”) issued authoritative guidance on the following topics:



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, 2021. Early adoption is permitted.	Simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification (“ASC”) 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The standard also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. We do not expect this guidance to have a material impact on our consolidated financial statements.
2018-14	Compensation—Retirement Benefits—Defined Benefit Plans—General	Fiscal years ending after December 15, 2020. Early adoption is permitted.	Modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement benefit plans. The guidance removes disclosures, clarifies the specific requirements of disclosures and adds disclosure requirements identified as relevant. We are currently in the process of evaluating the impact on our consolidated financial statements.

THE NEW YORK TIMES COMPANY

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.

NOTE 3. REVENUE

We generate revenues principally from subscriptions and advertising. Subscription revenues consist of revenues from subscriptions to our print and digital products (which include our news product, as well as our Crossword, Cooking and audio 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 revenues are primarily derived from offerings sold directly to marketers by our advertising sales team. A significantly smaller and diminishing proportion of our total advertising revenues is generated through programmatic auctions run by third-party ad exchanges. Advertising revenues are primarily determined by the volume, rate and mix of advertisements. Display advertising revenue is principally from advertisers promoting products, services or brands. Display advertising also includes advertisements that direct viewers to branded content on our platforms. Other print advertising revenue primarily includes classified advertising revenue. Other digital advertising revenue primarily includes creative services fees, including those associated with our branded content studio; advertising revenue from our podcasts; and advertising revenue generated by Wirecutter, our product review and recommendation website.

Other revenues primarily consist of revenues from licensing, affiliate referrals from Wirecutter, the leasing of floors in the New York headquarters building located at 620 Eighth Avenue, New York, New York (the “Company Headquarters”), commercial printing, television and film, retail commerce and NYT Live (our live events business).

Subscription, advertising and other revenues were as follows:



	For the Quarters Ended								For the Six Months Ended
(In thousands)	June 28, 2020		As % of total		June 30, 2019		As % of total		June 28, 2020		As % of total		June 30, 2019		As % of total
Subscription	$	293,189	72.6	%	$	270,456	62.0	%	$	578,623	68.3	%	$	541,266	61.8	%
Advertising	67,760		16.8	%	120,761		27.7	%	173,897		20.5	%	245,849		28.1	%
Other ⁽¹⁾	42,801		10.6	%	45,041		10.3	%	94,866		11.2	%	88,205

Price	28.91	EPS	1
Shares	168	P/E	38
MCap	4,844	P/FCF	40
Net Debt	-55	EBIT	169
TEV	4,789	TEV/EBIT	28
TTM 2019-09-29, in MM, except price, ratios

10-Q	2020-06-28	Filed 2020-08-06
10-Q	2020-03-29	Filed 2020-05-07
10-K	2019-12-29	Filed 2020-02-27
10-Q	2019-09-29	Filed 2019-11-06
10-Q	2019-06-30	Filed 2019-08-07
10-Q	2019-03-31	Filed 2019-05-08
10-K	2018-12-30	Filed 2019-02-26
10-Q	2018-09-30	Filed 2018-11-02
10-Q	2018-07-01	Filed 2018-08-08
10-Q	2018-04-01	Filed 2018-05-04
10-K	2017-12-31	Filed 2018-02-27
10-Q	2017-09-24	Filed 2017-11-01
10-Q	2017-06-25	Filed 2017-08-01
10-Q	2017-03-26	Filed 2017-05-03
10-K	2016-12-25	Filed 2017-02-22
10-Q	2016-09-25	Filed 2016-11-03
10-Q	2016-06-26	Filed 2016-07-29
10-Q	2016-03-27	Filed 2016-05-05
10-K	2015-12-27	Filed 2016-02-24
10-Q	2015-09-27	Filed 2015-11-04
10-Q	2015-06-28	Filed 2015-08-06
10-Q	2015-03-29	Filed 2015-05-06
10-K	2014-12-28	Filed 2015-02-24
10-Q	2014-09-28	Filed 2014-11-05
10-Q	2014-06-29	Filed 2014-08-05
10-Q	2014-03-30	Filed 2014-05-06
10-K	2013-12-29	Filed 2014-02-26
10-Q	2013-09-29	Filed 2013-11-07
10-Q	2013-06-30	Filed 2013-08-08
10-Q	2013-03-31	Filed 2013-05-09
10-K	2012-12-30	Filed 2013-02-28
10-Q	2012-09-23	Filed 2012-11-02
10-Q	2012-06-24	Filed 2012-08-03
10-Q	2012-03-25	Filed 2012-05-03
10-K	2011-12-25	Filed 2012-02-23
10-Q	2011-09-25	Filed 2011-11-03
10-Q	2011-06-26	Filed 2011-08-04
10-Q	2011-03-27	Filed 2011-05-05
10-K	2010-12-26	Filed 2011-02-22
10-Q	2010-09-26	Filed 2010-10-28
10-Q	2010-06-27	Filed 2010-08-05
10-Q	2010-03-28	Filed 2010-04-30
10-K	2009-12-27	Filed 2010-02-22

8-K	2020-08-05	Earnings, Exhibits
8-K	2020-07-22	Other Events, Exhibits
8-K	2020-07-21	Officers, Exhibits
8-K	2020-05-06
8-K	2020-04-22
8-K	2020-04-22
8-K	2020-04-10
8-K	2020-03-02
8-K	2020-02-06
8-K	2020-01-14
8-K	2019-11-06
8-K	2019-09-10
8-K	2019-09-07
8-K	2019-08-07
8-K	2019-05-08
8-K	2019-05-02
8-K	2019-02-06
8-K	2018-11-01
8-K	2018-09-21
8-K	2018-08-08
8-K	2018-05-03
8-K	2018-04-19
8-K	2018-04-19
8-K	2018-02-14
8-K	2018-02-08
8-K	2018-01-30
8-K	2018-01-11

EX-31.1	ex3116282020.htm
EX-31.2	ex3126282020.htm
EX-32.1	ex3216282020.htm
EX-32.2	ex3226282020.htm

NYT 10Q Quarterly Report

New York Times Earnings 2020-06-28