NEW YORK TIMES CO

4. Marketable Securities

The Company accounts for its marketable securities as AFS. The Company recorded $3.2 million and $1.1 million of pre-tax net unrealized gains in Accumulated Other Comprehensive Income (“AOCI”) as of December 31, 2025, and December 31, 2024, respectively.

The following tables present the amortized cost, gross unrealized gains and losses, and fair market value of our AFS securities as of December 31, 2025, and December 31, 2024:

THE NEW YORK TIMES COMPANY – P. 77

The following tables present the AFS securities as of December 31, 2025, and December 31, 2024, 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 loss position:

P. 78 – THE NEW YORK TIMES COMPANY

We assess our AFS securities for impairment on a quarterly basis or more often if a potential loss-triggering event occurs. See Note 2 for factors we consider when assessing AFS securities for recognition of losses or allowance for credit losses.

As of December 31, 2025, and December 31, 2024, 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 December 31, 2025, and December 31, 2024, we have recognizedno impairment losses or allowance for credit losses related to AFS securities.

As of December 31, 2025, our short-term and long-term AFS securities had remaining maturities of less thanone month to 12 months, and 13 months to 27 months, respectively. See Note 8 for additional information regarding the fair value hierarchy of our AFS securities.