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Retirement plans
 9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Retirement plans

NOTE 5 – Retirement plans

 

We have various defined benefit retirement plans. Our principal defined benefit pension plan is the TEGNA Retirement Plan (TRP). The total net pension obligations, including both current and non-current liabilities, as of September 30, 2025, were $68.3 million, of which $9.7 million is recorded as a current obligation within accrued liabilities on the Condensed Consolidated Balance Sheets.

 

Pension costs (income), which primarily include costs for the qualified TRP and the non-qualified TEGNA Supplemental Retirement Plan (SERP), are presented in the following table (in thousands):

 

 

Quarter ended Sept. 30,

 

 

Nine months ended Sept. 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest cost on benefit obligation

$

5,444

 

 

$

5,686

 

 

$

16,332

 

 

$

17,058

 

Expected return on plan assets

 

(5,179

)

 

 

(5,517

)

 

 

(15,539

)

 

 

(16,550

)

Amortization of prior service (credit) cost

 

(59

)

 

 

23

 

 

 

(176

)

 

 

68

 

Amortization of actuarial loss

 

1,478

 

 

 

1,475

 

 

 

4,433

 

 

 

4,425

 

Expense for company-sponsored retirement plans

$

1,684

 

 

$

1,667

 

 

$

5,050

 

 

$

5,001

 

 

Benefits no longer accrue for TRP and SERP participants as a result of amendments to the plans in past years, and as such we no longer incur a service cost component of pension expense. All other components of our pension expense presented above are included within the “Other non-operating items, net” line item of the Consolidated Statements of Income.

 

During the nine months ended September 30, 2025 we did not make any cash contributions to the TRP, and do not expect to make any contributions to the TRP during the remainder of 2025. We made contributions of $3.7 million in the nine months ended September 30, 2024. We made benefit payments to SERP participants of $4.2 million and $2.8 million during the nine months ended September 30, 2025 and 2024, respectively, and expect to make additional cash payments of $1.0 million to SERP participants during the remainder of 2025.