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v3.25.3

SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Information | The following table presents segment information with respect to the Company’s single operating segment for the three and nine months ended September 30, 2025 and September 30, 2024:
|  | For the Quarters Ended |  | For the Nine Months Ended
(In thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Revenues |  |  |  |  |  |  |  |
Subscription |  | $ | 494,630 |  |  | $ | 453,327 |  |  | $ | 1,440,307 |  |  | $ | 1,321,654 |
Advertising |  | 132,291 |  |  | 118,370 |  |  | 374,341 |  |  | 341,244 |
Affiliate, licensing and other |  | 73,900 |  |  | 68,481 |  |  | 207,956 |  |  | 196,392 |
Total revenues |  | $ | 700,821 |  |  | $ | 640,178 |  |  | $ | 2,022,604 |  |  | $ | 1,859,290 |
Less: |  |  |  |  |  |  |  |
Cost of revenue (excluding depreciation and amortization) |  | $ | 349,075 |  |  | $ | 331,839 |  |  | $ | 1,022,491 |  |  | $ | 971,480 |
Sales and marketing |  | 79,577 |  |  | 69,131 |  |  | 214,701 |  |  | 195,568 |
Product development |  | 66,989 |  |  | 61,030 |  |  | 197,468 |  |  | 186,435 |
Adjusted general and administrative(1) |  | 73,796 |  |  | 73,997 |  |  | 230,087 |  |  | 220,872 |
Total adjusted operating profit |  | $ | 131,384 |  |  | $ | 104,181 |  |  | $ | 357,857 |  |  | $ | 284,935 |
Less: |  |  |  |  |  |  |  |
Other components of net periodic benefit costs |  | 4,640 |  |  | 1,050 |  |  | 13,917 |  |  | 3,124 |
Depreciation and amortization |  | 21,341 |  |  | 20,622 |  |  | 64,115 |  |  | 61,865 |
Severance |  | 1,600 |  |  | 329 |  |  | 5,207 |  |  | 6,230 |
Multiemployer pension plan withdrawal costs |  | 1,244 |  |  | 1,883 |  |  | 3,811 |  |  | 4,792 |
Generative AI Litigation Costs |  | 2,411 |  |  | 4,620 |  |  | 10,298 |  |  | 7,592 |
Multiemployer pension plan liability adjustment |  | — |  |  | — |  |  | 4,453 |  |  | — |
Add: |  |  |  |  |  |  |  |
Interest income and other, net |  | 7,851 |  |  | 9,366 |  |  | 27,575 |  |  | 26,449 |
Income before income taxes |  | $ | 107,999 |  |  | $ | 85,043 |  |  | $ | 283,631 |  |  | $ | 227,781 |
(1)Excludes severance and multiemployer pension plan withdrawal costs.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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