XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Pensions and other postretirement benefit plans | 6 Months Ended
--- | ---
Jun. 30, 2024
Retirement Benefits [Abstract] |
Pensions and other postretirement benefit plans | NOTE 7 — Pensions and other postretirement benefit plans We, along with our subsidiaries, sponsor various defined benefit retirement plans, including plans established under collective bargaining agreements. Our retirement plans include the Gannett Retirement Plan (the "GR Plan"), the Newsquest and Romanes Pension Schemes in the U.K., and other defined benefit and defined contribution plans. We also provide health care and life insurance benefits to certain retired employees who meet age and service requirements. Retirement plan costs include the following components:
| Pension benefits |  | Postretirement benefits
| Three months ended June 30, |  | Three months ended June 30,
In thousands | 2024 |  | 2023 |  | 2024 |  | 2023
Operating expenses: |  |  |  |  |  |  |
Service cost - benefits earned during the period | $ | 289 |  |  | $ | 346 |  |  | $ | 8 |  |  | $ | 10 |
Non-operating expenses: |  |  |  |  |  |  |
Interest cost on benefit obligations | 20,276 |  |  | 20,894 |  |  | 530 |  |  | 632 |
Expected return on plan assets | (24,050) |  |  | (23,814) |  |  | — |  |  | — |
Amortization of prior service cost (benefit) | 17 |  |  | 17 |  |  | (142) |  |  | — |
Amortization of actuarial cost (benefit) | 710 |  |  | 544 |  |  | (478) |  |  | (536) |
Total non-operating (benefit) expense | $ | (3,047) |  |  | $ | (2,359) |  |  | $ | (90) |  |  | $ | 96 |
Total (benefit) expense for retirement plans | $ | (2,758) |  |  | $ | (2,013) |  |  | $ | (82) |  |  | $ | 106 |
| Pension benefits |  | Postretirement benefits
| Six months ended June 30, |  | Six months ended June 30,
In thousands | 2024 |  | 2023 |  | 2024 |  | 2023
Operating expenses: |  |  |  |  |  |  |
Service cost - benefits earned during the period | $ | 578 |  |  | $ | 670 |  |  | $ | 17 |  |  | $ | 20 |
Non-operating expenses: |  |  |  |  |  |  |
Interest cost on benefit obligations | 40,591 |  |  | 42,095 |  |  | 1,060 |  |  | 1,264 |
Expected return on plan assets | (48,153) |  |  | (47,482) |  |  | — |  |  | — |
Amortization of prior service cost (benefit) | 34 |  |  | 33 |  |  | (284) |  |  | — |
Amortization of actuarial cost (benefit) | 1,425 |  |  | 1,084 |  |  | (956) |  |  | (1,072) |
Total non-operating (benefit) expense | $ | (6,103) |  |  | $ | (4,270) |  |  | $ | (180) |  |  | $ | 192 |
Total (benefit) expense for retirement plans | $ | (5,525) |  |  | $ | (3,600) |  |  | $ | (163) |  |  | $ | 212 |
Contributions We are contractually obligated to contribute to our pension and postretirement benefit plans. During the six months ended June 30, 2024, we contributed $7.0 million and $2.7 million to our pension and other postretirement plans, respectively. Beginning with the quarter ended December 31, 2022, and ending with the quarter ending September 30, 2024, the GR Plan's appointed actuary has and will certify the GR Plan's funded status for each quarter (the "Quarterly Certification") in accordance with U.S. GAAP. If the GR Plan is less than 100% funded, the Company will make a $1.0 million contribution to the GR Plan no later than 60 days following the receipt of the Quarterly Certification, provided, however, that the Company's obligation to make additional contractual contributions will terminate the earlier of (a) the day following the date that a contractual contribution would be due for the quarter ending September 30, 2024, and (b) the date the Company has made a total of $5.0 million of contractual contributions subsequent to June 30, 2022. As of June 30, 2024, the GR Plan was more than 100% funded.

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

X
- Definition The entire disclosure for retirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 70 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480794/715-70-50-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(03) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (q) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/715/tableOfContent Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (o) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (p) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (r)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 60 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480266/715-60-50-3 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration