XML 21 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Total revenues $ 2,509,315 $ 2,663,550 $ 2,945,303
Operating costs 1,545,584 1,692,031 1,860,353
Selling, general and administrative expenses 726,028 735,339 852,488
Depreciation and amortization 156,287 162,622 182,022
Integration and reorganization costs 66,155 24,468 87,974
Asset impairments 46,589 1,370 1,056
Loss (gain) on sale or disposal of assets, net 1,106 (40,101) (6,883)
Other operating expenses 10,404 1,550 1,892
Total operating expenses 2,552,153 2,577,279 2,978,902
Operating (loss) income (42,838) 86,271 (33,599)
Interest expense 104,697 111,776 108,366
Gain on early extinguishment of debt (55,559) (4,529) (399)
Non-operating pension income (12,438) (9,382) (58,953)
Equity income in unconsolidated investees, net (548) (2,379) (3,421)
Other non-operating income, net (1,317) (3,050) (2,286)
Non-operating expenses 34,835 92,436 43,307
Loss before income taxes (77,673) (6,165) (76,906)
(Benefit) provision for income taxes (51,286) 21,729 1,349
Net loss (26,387) (27,894) (78,255)
Net loss attributable to noncontrolling interests (33) (103) (253)
Net loss attributable to Gannett $ (26,354) $ (27,791) $ (78,002)
Loss per share attributable to Gannett - basic (in dollars per share) $ (0.18) $ (0.20) $ (0.57)
Loss per share attributable to Gannett - diluted (in dollars per share) $ (0.18) $ (0.20) $ (0.57)
Other comprehensive income (loss):      
Foreign currency translation adjustments $ (14) $ 13,683 $ (24,008)
Pension and other postretirement benefit items:      
Net actuarial gain (loss) 10,205 33,135 (185,282)
Amortization of net actuarial gain (loss) 1,014 (305) (500)
Change in prior service cost 0 3,307 0
Amortization of prior service cost (500) (502) 66
Settlement loss 35 0 0
Equity method investments 116 610 0
Other 1,405 (7,415) 5,283
Total pension and other postretirement benefit items 12,275 28,830 (180,433)
Other comprehensive income (loss) before tax 12,261 42,513 (204,441)
Income tax provision (benefit) related to components of other comprehensive income (loss) 2,884 6,823 (43,212)
Other comprehensive income (loss), net of tax [1] 9,377 35,690 (161,229)
Comprehensive (loss) income (17,010) 7,796 (239,484)
Comprehensive loss attributable to noncontrolling interests [2] (33) (103) (253)
Comprehensive (loss) income attributable to Gannett (16,977) 7,899 (239,231)
Digital      
Total revenues 1,103,651 1,050,370 1,038,580
Print and commercial      
Total revenues $ 1,405,664 $ 1,613,180 $ 1,906,723
[1] (b) Other comprehensive income (loss) is net of an income tax provision of $2.9 million and $6.8 million for the years ended December 31, 2024 and 2023, respectively, and net of an income tax benefit of $43.2 million for the year ended December 31, 2022.
[2] (a) For the years ended December 31, 2024, 2023, and 2022 there were no redeemable noncontrolling interests included in Net loss attributable to
noncontrolling interests.