XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.25.3

OTHER | 9 Months Ended
--- | ---
Sep. 30, 2025
Other Income and Expenses [Abstract] |
OTHER | OTHER Interest Income and Other, Net Interest income and other, net, as shown in the accompanying Condensed Consolidated Statements of Operations, was as follows:
|  | For the Quarters Ended |  | For the Nine Months Ended
(In thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Interest income |  | $ | 11,633 |  |  | $ | 9,626 |  |  | $ | 31,948 |  |  | $ | 27,212 |
Interest expense |  | (286) |  |  | (260) |  |  | (877) |  |  | (763) |
Impairment of a non-marketable equity security |  | (3,496) |  |  | — |  |  | (3,496) |  |  | — |
Total interest income and other, net |  | $ | 7,851 |  |  | $ | 9,366 |  |  | $ | 27,575 |  |  | $ | 26,449 |
College Point Land Sale On December 9, 2020, we entered into an agreement to lease and subsequently sell approximately four acres of excess land at our printing and distribution facility in College Point, N.Y. The transaction was accounted for as a sales-type lease and, as a result, we recognized a gain at the time of the lease commencement on April 11, 2022. On February 21, 2025, we finalized the sale and received net proceeds of approximately $33 million, which were recorded in Net cash provided by operating activities – Other assets in the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025. Restricted Cash A reconciliation of cash, cash equivalents and restricted cash as of September 30, 2025, and September 30, 2024, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:
(In thousands) |  | September 30, 2025 |  | September 30, 2024
Reconciliation of cash, cash equivalents and restricted cash |  |  |  |
Cash and cash equivalents |  | $ | 249,339 |  |  | $ | 204,620 |
Restricted cash included within miscellaneous assets |  | 14,870 |  |  | 14,243 |
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows |  | $ | 264,209 |  |  | $ | 218,863 |
Substantially all of the amount included in restricted cash is set aside to collateralize workers’ compensation obligations. Revolving Credit Facility On June 13, 2025, the Company entered into an amendment and restatement of its previous credit facility that, among other changes, increased the committed amount to $400.0 million and extended the maturity date to June 13, 2030 (as amended and restated, the “Credit Facility”). Certain of the Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Facility. Borrowings under the Credit Facility bear interest at specified rates based on our utilization and consolidated leverage ratio. The Credit Facility contains various customary affirmative and negative covenants. In addition, the Company is obligated to pay a quarterly unused commitment fee at an annual rate of 0.20%. As of September 30, 2025, and December 31, 2024, there were no borrowings and approximately $0.4 million in outstanding letters of credit, with the remaining committed amount available. As of September 30, 2025, the Company was in compliance with the financial covenants contained in the Credit Facility. Severance Costs We recognized $1.6 million and $0.3 million in severance costs for the third quarters of 2025 and 2024, respectively, and $5.2 million and $6.2 million for the first nine months of 2025 and 2024, respectively. These costs are recorded in General and administrative costs in our Condensed Consolidated Statements of Operations. We had a severance liability of $5.4 million and $4.8 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of September 30, 2025, and December 31, 2024, respectively. Generative AI Litigation Costs The Company recorded $2.4 million and $4.6 million of pre-tax litigation-related costs for the third quarters of 2025 and 2024, respectively, and $10.3 million and $7.6 million for the first nine months of 2025 and 2024, respectively, in connection with a lawsuit against Microsoft Corporation (“Microsoft”) and Open AI Inc. and various of its corporate affiliates (collectively, “OpenAI”), alleging unlawful and unauthorized copying and use of the Company’s journalism and other content in connection with their development of generative artificial intelligence products (“Generative AI Litigation Costs”). See Note 14 for additional information.

X
- References No definition available. + Details
Name: | us-gaap_OtherIncomeAndExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 720 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/720/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 610 -Publisher FASB -URI https://asc.fasb.org/610/tableOfContent + Details
Name: | us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration