NEW YORK TIMES CO
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
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FY2023 · Filed Feb 20, 2024
NYT$72.58+0.6%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows for the years ended
| Years Ended | |||
|---|---|---|---|
| (In thousands) | December 31, 2023 | December 31, 2022 | December 26, 2021 |
| Cash flows from operating activities | |||
| Net income | $232,752 | $173,905 | $219,971 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 86,115 | 82,654 | 57,502 |
| Lease termination charge | — | — | 3,831 |
| Amortization of right of use asset | 9,232 | 9,923 | 9,488 |
| Stock-based compensation expense | 54,776 | 35,306 | 22,215 |
| Multiemployer pension plan liability adjustment | (605) | 14,989 | — |
| Impairment charges | 15,239 | 4,069 | — |
| Gain on the sale of land | — | (34,227) | — |
| Gain from joint ventures | (2,477) | — | — |
| Gain on non-marketable equity investment | — | — | (27,156) |
| Change in long-term retirement benefit obligations | (29,528) | (29,049) | (19,222) |
| Fair market value adjustment on life insurance products | (1,648) | 1,081 | 118 |
| Other – net | 3,932 | 2,739 | 2,902 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable – net | (24,955) | 20,889 | (49,216) |
| Other current assets | (2,154) | (23,220) | (5,289) |
| Accounts payable, accrued payroll and other liabilities | (7,321) | (111,216) | 39,696 |
| Unexpired subscriptions | 16,827 | 8,588 | 13,950 |
| Other noncurrent assets and liabilities | 10,433 | (5,744) | 308 |
| Net cash provided by operating activities | 360,618 | 150,687 | 269,098 |
| Cash flows from investing activities | |||
| Purchases of marketable securities | (286,448) | (6,648) | (763,425) |
| Maturities/disposals of marketable securities | 142,161 | 484,984 | 593,465 |
| Business acquisitions | — | (515,586) | — |
| Proceeds/(purchases) from investments | 2,512 | (1,832) | 20,074 |
| Capital expenditures | (22,669) | (36,961) | (34,637) |
| Other - net | 4,754 | 2,482 | 3,716 |
| Net cash used in investing activities | (159,690) | (73,561) | (180,807) |
| Cash flows from financing activities | |||
| Long-term obligations: | |||
| Dividends paid | (69,464) | (56,790) | (45,337) |
| Payment of contingent consideration | (3,448) | (2,586) | (862) |
| Purchase of noncontrolling interest | (356) | — | — |
| Capital shares: | |||
| Stock issuances | — | 3 | 2,454 |
| Repurchases | (44,553) | (105,056) | — |
| Share-based compensation tax withholding | (14,889) | (9,877) | (11,202) |
| Net cash used in financing activities | (132,710) | (174,306) | (54,947) |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 68,218 | (97,180) | 33,344 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (219) | (1,953) | (1,002) |
| Cash, cash equivalents and restricted cash at the beginning of the year | 235,173 | 334,306 | 301,964 |
| Cash, cash equivalents and restricted cash at the end of the year | $303,172 | $235,173 | $334,306 |
P. 70 – THE NEW YORK TIMES COMPANY
SUPPLEMENTAL DISCLOSURES TO CONSOLIDATED STATEMENTS OF CASH FLOWS
Cash Flow Information
| Years Ended | |||
|---|---|---|---|
| (In thousands) | December 31, 2023 | December 31, 2022 | December 26, 2021 |
| Cash payments | |||
| Interest, net of capitalized interest | $708 | $1,583 | $546 |
| Income tax payments – net | $71,814 | $110,161 | $66,443 |
THE NEW YORK TIMES COMPANY – P. 71
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