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Earnings per share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Earnings per share | NOTE 7 – Earnings per share Our earnings per share (basic and diluted) are presented below (in thousands, except per share amounts):
| Quarter ended Sept. 30, |  |  | Nine months ended Sept. 30, |
| 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net income | $ | 37,116 |  |  | $ | 147,188 |  |  | $ | 163,325 |  |  | $ | 418,479 |
Net loss attributable to the noncontrolling interest |  | — |  |  |  | 260 |  |  |  | 384 |  |  |  | 673 |
Adjustment of redeemable noncontrolling interest to redemption value |  | — |  |  |  | (641 | ) |  |  | (912 | ) |  |  | (1,797 | )
Earnings available to common shareholders | $ | 37,116 |  |  | $ | 146,807 |  |  | $ | 162,797 |  |  | $ | 417,355 |
Weighted average number of common shares outstanding - basic |  | 161,606 |  |  |  | 165,188 |  |  |  | 161,312 |  |  |  | 170,820 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Restricted stock units |  | 755 |  |  |  | 447 |  |  |  | 730 |  |  |  | 378 |
Performance share awards |  | 126 |  |  |  | 113 |  |  |  | 142 |  |  |  | 136 |
401(k) match shares |  | 560 |  |  |  | — |  |  |  | 362 |  |  |  | — |
Weighted average number of common shares outstanding - diluted |  | 163,047 |  |  |  | 165,748 |  |  |  | 162,546 |  |  |  | 171,334 |
Net income per share - basic | $ | 0.23 |  |  | $ | 0.89 |  |  | $ | 1.01 |  |  | $ | 2.44 |
Net income per share - diluted | $ | 0.23 |  |  | $ | 0.89 |  |  | $ | 1.00 |  |  | $ | 2.44 |
Historically, we made matching contributions to eligible employees participating in our 401(k) plan on a bi-weekly basis. We amended the 401(k) plan as of January 2025 so that, going forward, we will make annual matching contributions to eligible employees in the first quarter of the following year, meaning that matching contributions earned in 2025 will be made to eligible employees in the first quarter of 2026. We will continue to make the matching contribution in the form of TEGNA shares. We have included the dilutive impact of the 401(k) match that has been earned, but not yet contributed, in the dilutive shares calculation above. Our calculation of diluted earnings per share includes the dilutive effects for the assumed vesting of outstanding restricted stock units and performance share awards. The diluted earnings per share amounts exclude the effects of approximately 1 0 thousand and 4 0 thousand stock awards for the three and nine months ended September 30, 2025, respectively, and approximately 160 thousand and 36 0 thousand stock awards for the three and nine months ended September 30, 2024, respectively, as their inclusion would be accretive to earnings per share.

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