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 Operations for the years ended
| Years Ended | |||
|---|---|---|---|
| (In thousands) | December 31, 2023 | December 31, 2022 | December 26, 2021 |
| (52 weeks) | (52 weeks and five days) | (52 weeks) | |
| Revenues | |||
| Subscription | $1,656,153 | $1,552,362 | $1,362,115 |
| Advertising | 505,206 | 523,288 | 497,536 |
| Other | 264,793 | 232,671 | 215,226 |
| Total revenues | 2,426,152 | 2,308,321 | 2,074,877 |
| Operating costs | |||
| Cost of revenue (excluding depreciation and amortization) | 1,249,061 | 1,208,933 | 1,039,568 |
| Sales and marketing | 260,227 | 267,553 | 294,947 |
| Product development | 228,804 | 204,185 | 160,871 |
| General and administrative | 311,039 | 289,259 | 250,124 |
| Depreciation and amortization | 86,115 | 82,654 | 57,502 |
| Acquisition-related costs | — | 34,712 | — |
| Impairment charges | 15,239 | 4,069 | — |
| Multiemployer pension plan liability adjustment | (605) | 14,989 | — |
| Lease termination charge | — | — | 3,831 |
| Total operating costs(1) | 2,149,880 | 2,106,354 | 1,806,843 |
| Operating profit | 276,272 | 201,967 | 268,034 |
| Other components of net periodic benefit (income)/costs | (2,737) | 6,659 | 10,478 |
| Gain from joint ventures | 2,477 | — | — |
| Interest income and other, net | 21,102 | 40,691 | 32,945 |
| Income before income taxes | 302,588 | 235,999 | 290,501 |
| Income tax expense | 69,836 | 62,094 | 70,530 |
| Net income | 232,752 | 173,905 | 219,971 |
| Net income attributable to the noncontrolling interest | (365) | — | — |
| Net income attributable to The New York Times Company common stockholders | $232,387 | $173,905 | $219,971 |
(1) Years ended December 31, 2022, and December 26, 2021 were recast to conform to the current presentation of total operating costs.
P. 66 – THE NEW YORK TIMES COMPANY
| Years Ended | |||
|---|---|---|---|
| (In thousands, except per share data) | December 31, 2023 | December 31, 2022 | December 26, 2021 |
| (52 weeks) | (52 weeks and five days) | (52 weeks) | |
| Average number of common shares outstanding: | |||
| Basic | 164,721 | 166,871 | 167,929 |
| Diluted | 165,663 | 167,141 | 168,533 |
| Basic earnings per share attributable to The New York Times Company common stockholders | $1.41 | $1.04 | $1.31 |
| Diluted earnings per share attributable to The New York Times Company common stockholders | $1.40 | $1.04 | $1.31 |
| Dividends declared per share | $0.44 | $0.36 | $0.28 |
THE NEW YORK TIMES COMPANY – P. 67
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