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SHAREHOLDERS' EQUITY (Tables) | 12 Months Ended
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Dec. 30, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Earnings (Loss) Per Share (Basic and Diluted) | The company’s earnings per share (basic and diluted) for 2012, 2011 and 2010 are presented below:
In thousands, except per share amounts
| 2012 | 2011 | 2010
Net income attributable to Gannett Co., Inc. | $ | 424,280 |  | $ | 458,748 |  | $ | 588,201 |
Weighted average number of common shares outstanding (basic) | 232,327 |  | 239,228 |  | 238,230 |
Effect of dilutive securities |  |  |
Stock options | 867 |  | 1,189 |  | 1,354 |
Restricted stock | 2,552 |  | 2,147 |  | 1,720 |
Performance Shares | 944 |  | — |  | — |
401(k) employer match | — |  | 204 |  | 301 |
Weighted average number of common shares outstanding (diluted) | 236,690 |  | 242,768 |  | 241,605 |
Earnings per share (basic) | $ | 1.83 |  | $ | 1.92 |  | $ | 2.47 |
Earnings per share (diluted) | $ | 1.79 |  | $ | 1.89 |  | $ | 2.43 |
Assumptions Used to Estimate Fair Value of Option Awards | The following assumptions were used to estimate the fair value of stock option and performance share awards:
Stock Options Granted During | 2012 | 2011 | 2010
Average expected term | 4.5 yrs. | 4.5 yrs. | 4.5 yrs.
Expected volatility | 65.74 - 66.95% | 62.46 - 64.39% | 59.41 - 62.24%
Weighted average volatility | 66.56% | 62.54% | 61.01%
Risk-free interest rates | 0.84% | 0.87 - 2.21% | 1.51 - 2.65%
Expected dividend yield | 5.00% | 1.00 - 2.00% | 1.00%
Weighted average expected dividend | 5.00% | 1.06% | 1.00%
Stock-Based Compensation Related Amounts Recognized in the Consolidated Statements of Income (Loss) for Equity Awards | The following table shows the stock-based compensation related amounts recognized in the Consolidated Statements of Income for equity awards:
In thousands, except per share amounts
| 2012 | 2011 | 2010
Restricted stock and RSUs | $ | 14,362 |  | $ | 12,868 |  | $ | 13,897 |
Performance shares | 7,991 |  | — |  | — |
Stock options and other | 4,255 |  | 15,135 |  | 18,810 |
Total stock-based compensation | 26,608 |  | 28,003 |  | 32,707 |
Income tax benefit | 10,111 |  | 10,641 |  | 12,429 |
Stock-based compensation, net of tax | $ | 16,497 |  | $ | 17,362 |  | $ | 20,278 |
Per diluted share impact | $ | 0.07 |  | $ | 0.07 |  | $ | 0.08 |
Summary of Stock Option Awards | A summary of the company’s stock-option awards is presented below:
2012 Stock Option Activity | Shares | Weighted average exercise price | Weighted average remaining contractual term (in years) | Aggregate intrinsic value
Outstanding at beginning of year | 20,340,291 |  | $ | 47.66 |  | 3.5 | $ | 17,184,761 |
Granted | 109,699 |  | $ | 14.33 |  |  |
Exercised | (2,716,637 | ) | $ | 9.38 |  |  |
Canceled/Expired | (6,389,335 | ) | $ | 70.76 |  |  |
Outstanding at end of year | 11,344,018 |  | $ | 43.50 |  | 3.2 | $ | 16,902,892 |
Options exercisable at year end | 8,942,897 |  | $ | 51.35 |  | 2.6 | $ | 8,845,944 |
Weighted average grant date fair value of options granted during the year | $ | 5.43 |  |  |  |
2011 Stock Option Activity | Shares | Weighted average exercise price | Weighted average remaining contractual term (in years) | Aggregate intrinsic value
Outstanding at beginning of year | 23,649,290 |  | $ | 52.08 |  | 3.9 | $ | 28,819,223 |
Granted | 1,333,597 |  | $ | 15.79 |  |  |
Exercised | (496,749 | ) | $ | 5.71 |  |  |
Canceled/Expired | (4,145,847 | ) | $ | 67.61 |  |  |
Outstanding at end of year | 20,340,291 |  | $ | 47.66 |  | 3.5 | $ | 17,184,761 |
Options exercisable at year end | 15,857,692 |  | $ | 57.26 |  | 2.7 | $ | 10,644,474 |
Weighted average grant date fair value of options granted during the year | $ | 7.63 |  |  |  |
2010 Stock Option Activity | Shares | Weighted average exercise price | Weighted average remaining contractual term (in years) | Aggregate intrinsic value
Outstanding at beginning of year | 25,243,251 |  | $ | 58.68 |  | 4.1 | $ | 33,560,103 |
Granted | 3,451,481 |  | $ | 15.23 |  |  |
Exercised | (332,060 | ) | $ | 6.00 |  |  |
Canceled/Expired | (4,713,382 | ) | $ | 63.70 |  |  |
Outstanding at end of year | 23,649,290 |  | $ | 52.08 |  | 3.9 | $ | 28,819,223 |
Options exercisable at year end | 17,075,622 |  | $ | 66.48 |  | 2.8 | $ | 8,698,148 |
Weighted average grant date fair value of options granted during the year | $ | 7.22 |  |  |  |
Summary of Restricted Stock and RSU Awards | A summary of restricted stock and RSU awards is presented below:
2012 Restricted Stock and RSU Activity | Shares | Weighted average fair value
Outstanding and unvested at beginning of year | 3,731,033 |  | $ | 10.73 |
Granted | 1,937,512 |  | $ | 12.33 |
Settled | (997,584 | ) | $ | 3.29 |
Canceled | (601,452 | ) | $ | 11.95 |
Outstanding and unvested at end of year | 4,069,509 |  | $ | 12.98 |
2011 Restricted Stock and RSU Activity | Shares | Weighted average fair value
Outstanding and unvested at beginning of year | 4,421,437 |  | $ | 12.19 |
Granted | 175,023 |  | $ | 13.21 |
Settled | (469,634 | ) | $ | 33.51 |
Canceled | (395,793 | ) | $ | 11.94 |
Outstanding and unvested at end of year | 3,731,033 |  | $ | 10.73 |
2010 Restricted Stock and RSU Activity | Shares | Weighted average fair value
Outstanding and unvested at beginning of year | 3,293,293 |  | $ | 13.62 |
Granted | 1,934,351 |  | $ | 14.91 |
Settled | (490,716 | ) | $ | 31.94 |
Canceled | (315,491 | ) | $ | 12.97 |
Outstanding and unvested at end of year | 4,421,437 |  | $ | 12.19 |
Schedule of Nonvested Performance-based Units Activity | The following table summarizes the activity for non-vested performance share units during the year ended Dec. 30, 2012:
Performance Shares Activity | Target number of shares | Weighted average fair value
Outstanding and unvested at beginning of year | — |  | $ | — |
Granted | 1,109,873 |  | $ | 14.21 |
Canceled | (127,421 | ) | $ | 14.12 |
Outstanding and unvested at end of year | 982,452 |  | $ | 14.23 |
Performance Shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Assumptions Used to Estimate Fair Value of Option Awards |
Performance Shares Granted During | 2012 | 2011 | 2010
Expected term | 3 yrs. | — | —
Expected volatility | 69.47% | — | —
Risk-free interest rate | 0.41% | — | —
Expected dividend yield | 2.39% | — | —

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