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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Total revenues $ 612,439 $ 652,871 $ 1,888,040 $ 1,994,145
Operating costs 375,912 416,103 1,169,785 1,272,387
Selling, general and administrative expenses 183,857 184,914 547,365 549,431
Depreciation and amortization 40,398 40,644 116,954 124,126
Integration and reorganization costs (reversal) 17,307 (955) 54,963 18,459
Asset impairments 87 188 46,076 1,370
Loss (gain) on sale or disposal of assets, net 784 (23,334) 1,572 (40,869)
Other operating expenses 117 370 268 828
Total operating expenses 618,462 617,930 1,936,983 1,925,732
Operating (loss) income (6,023) 34,941 (48,943) 68,413
Interest expense 25,959 27,918 78,794 84,807
Loss (gain) on early extinguishment of debt 176 (2,717) (354) (3,213)
Non-operating pension income (3,193) (2,929) (9,476) (7,007)
Equity loss (income) in unconsolidated investees, net 97 (510) (277) (1,341)
Other non-operating (income) expense, net (2,979) (397) (3,771) 17
Non-operating expenses 20,060 21,365 64,916 73,263
(Loss) income before income taxes (26,083) 13,576 (113,859) (4,850)
(Benefit) provision for income taxes (6,429) 16,144 (23,154) 148
Net loss (19,654) (2,568) (90,705) (4,998)
Net loss attributable to noncontrolling interests (1) (2) (32) (99)
Net loss attributable to Gannett $ (19,653) $ (2,566) $ (90,673) $ (4,899)
Loss per share attributable to Gannett - basic (in dollars per share) $ (0.14) $ (0.02) $ (0.64) $ (0.04)
Loss per share attributable to Gannett - diluted (in dollars per share) $ (0.14) $ (0.02) $ (0.64) $ (0.04)
Other comprehensive income (loss):        
Foreign currency translation adjustments $ 13,829 $ (7,329) $ 12,917 $ 4,835
Pension and other postretirement benefit items:        
Net actuarial gain (loss) 0 3,522 (538) 29,086
Amortization of net actuarial gain (loss) 257 (239) 726 (227)
Amortization of prior service cost (125) (409) (375) (376)
Equity method investments 0 0 116 610
Other (8,432) 3,860 (7,422) (1,682)
Total pension and other postretirement benefit items (8,300) 6,734 (7,493) 27,411
Other comprehensive income (loss) before tax 5,529 (595) 5,424 32,246
Income tax (benefit) provision related to components of other comprehensive income (loss) (1,645) 1,484 (1,505) 6,788
Other comprehensive income (loss), net of tax 7,174 [1] (2,079) [1] 6,929 [2] 25,458 [2]
Comprehensive (loss) income (12,480) (4,647) (83,776) 20,460
Comprehensive loss attributable to noncontrolling interests (1) (2) (32) (99)
Comprehensive (loss) income attributable to Gannett (12,479) (4,645) (83,744) 20,559
Digital        
Total revenues 277,386 263,644 823,263 773,225
Print and commercial        
Total revenues $ 335,053 $ 389,227 $ 1,064,777 $ 1,220,920
[1] For the three months ended September 30, 2024 and 2023, Other comprehensive (loss) income is net of an income tax benefit of $1.6 million and an income tax provision of $1.5 million, respectively.
[2] For the nine months ended September 30, 2024 and 2023, Other comprehensive (loss) income is net of an income tax benefit of $1.5 million and income tax provision of $6.8 million, respectively.