Note 7 - Retirement Plans

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Retirement Benefits [Text Block]

7. Retirement Plans

The components of our net periodic pension benefit are included in miscellaneous (expense) income, net in our condensed consolidated statements of operations. During the nine-months ended September 30, 2021, the amount recorded as a benefit was not material. During the nine-months ended September 30, 2021, we contributed $4 million to this plan.

During the nine-month period ended September 30, 2021, we contributed $11 million in matching cash contributions, and shares of our common stock valued at approximately $7 million for our 2020 discretionary profit-sharing contributions, to the 401(k) plan. The discretionary profit-sharing contribution was recorded as an expense in 2020 and accrued as of December 31, 2020. Based upon our staffing and employee participation as of September 30, 2021, during the remainder of 2021, we expect to contribute approximately $2 million of matching cash contributions to this plan. This estimate will increase upon the completion of the Meredith Transaction.