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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Total revenues $ 639,840 $ 672,357 $ 1,275,601 $ 1,341,274
Operating costs 391,474 426,096 793,873 856,284
Selling, general and administrative expenses 183,019 184,127 363,508 364,517
Depreciation and amortization 38,258 39,784 76,556 83,482
Integration and reorganization costs 19,775 7,287 37,656 19,414
Asset impairments 0 1,177 45,989 1,182
Loss (gain) on sale or disposal of assets, net 236 146 788 (17,535)
Other operating expenses 112 229 151 458
Total operating expenses 632,874 658,846 1,318,521 1,307,802
Operating income (loss) 6,966 13,511 (42,920) 33,472
Interest expense 26,270 28,559 52,835 56,889
Loss (gain) on early extinguishment of debt 87 0 (530) (496)
Non-operating pension income (3,137) (2,263) (6,283) (4,078)
Equity income in unconsolidated investees, net (559) (621) (374) (831)
Other non-operating (income) expense, net (2,609) (807) (792) 414
Non-operating expenses 20,052 24,868 44,856 51,898
Loss before income taxes (13,086) (11,357) (87,776) (18,426)
(Benefit) provision for income taxes (26,803) 1,333 (16,725) (15,996)
Net income (loss) 13,717 (12,690) (71,051) (2,430)
Net loss attributable to noncontrolling interests (31) (13) (31) (97)
Net income (loss) attributable to Gannett $ 13,748 $ (12,677) $ (71,020) $ (2,333)
Income (loss) per share attributable to Gannett - basic (in dollars per share) $ 0.10 $ (0.09) $ (0.50) $ (0.02)
Income (loss) per share attributable to Gannett - diluted (in dollars per share) $ 0.09 $ (0.09) $ (0.50) $ (0.02)
Other comprehensive income (loss):        
Foreign currency translation adjustments $ (223) $ 5,827 $ (912) $ 12,164
Pension and other postretirement benefit items:        
Net actuarial gain (loss) 0 13,968 (538) 25,564
Amortization of net actuarial gain (loss) 232 8 469 12
Amortization of prior service cost (125) 17 (250) 33
Equity method investments 0 0 116 610
Other (317) (2,631) 1,010 (5,542)
Total pension and other postretirement benefit items (210) 11,362 807 20,677
Other comprehensive (loss) income before tax (433) 17,189 (105) 32,841
Income tax (benefit) provision related to components of other comprehensive income (loss) (30) 2,942 140 5,304
Other comprehensive (loss) income, net of tax (403) [1] 14,247 [1] (245) [2] 27,537 [2]
Comprehensive income (loss) 13,314 1,557 (71,296) 25,107
Comprehensive loss attributable to noncontrolling interests (31) (13) (31) (97)
Comprehensive income (loss) attributable to Gannett 13,345 1,570 (71,265) 25,204
Digital        
Total revenues 278,378 262,103 545,877 509,581
Print and commercial        
Total revenues $ 361,462 $ 410,254 $ 729,724 $ 831,693
[1] For the three months ended June 30, 2024 and 2023, Other comprehensive (loss) income is net of an income tax benefit of $30 thousand and an income tax provision of $2.9 million, respectively.
[2] For the six months ended June 30, 2024 and 2023, Other comprehensive (loss) income is net of an income tax provision of $0.1 million and $5.3 million, respectively.