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Quarterly Information (Unaudited)
 12 Months Ended
Dec. 25, 2016
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information (Unaudited)
QUARTERLY INFORMATION (UNAUDITED)
Quarterly financial information for each quarter in the years ended December 25, 2016 and December 27, 2015 is included in the following tables. See Note 13 of the Notes to the Consolidated Financial Statements for additional information regarding discontinued operations.
 
2016 Quarters
 
(In thousands, except per share data)
March 27,
2016

June 26,
2016

September 25,
2016

December 25,
2016

Full Year

 
(13 weeks)

(13 weeks)

(13 weeks)

(13 weeks)

(52 weeks)

Revenues
$
379,515

$
372,630

$
363,547

$
439,650

$
1,555,342

Operating costs
351,580

339,933

356,596

362,801

1,410,910

Restructuring charge(1)
—

11,855

2,949

—

14,804

Multiemployer pension plan withdrawal income(2)
—

11,701

(4,971
)
—

6,730

Pension settlement charge(3)
—

—

—

21,294

21,294

Operating profit
27,935

9,141

8,973

55,555

101,604

(Loss)/income from joint ventures
(41,896
)
(412
)
463

5,572

(36,273
)
Interest expense, net
8,826

9,097

9,032

7,850

34,805

(Loss)/income from continuing operations before income taxes
(22,787
)
(368
)
404

53,277

30,526

Income tax (benefit)/expense
(9,201
)
124

121

13,377

4,421

(Loss)/income from continuing operations
(13,586
)
(492
)
283

39,900

26,105

(Loss) from discontinued operations, net of income taxes
—

—

—

(2,273
)
(2,273
)
Net income/(loss)
(13,586
)
(492
)
283

37,627

23,832

Net income/(loss) attributable to the noncontrolling interest
5,315

281

123

(483
)
5,236

Net (loss)/income attributable to The New York Times Company common stockholders
$
(8,271
)
$
(211
)
$
406

$
37,144

$
29,068

Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
(Loss)/income from continuing operations
$
(8,271
)
$
(211
)
$
406

$
39,417

$
31,341

(Loss) from discontinued operations, net of income taxes
$
—

$
—

$
—

$
(2,273
)
$
(2,273
)
Net (loss)/income
$
(8,271
)
$
(211
)
$
406

$
37,144

$
29,068

Average number of common shares outstanding:
 
 
 
 
 
Basic
161,003

161,128

161,185

161,235

161,128

Diluted
161,003

161,128

162,945

162,862

162,817

Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
(Loss)/income from continuing operations
$
(0.05
)
$
—

$
—

$
0.24

$
0.19

Loss from discontinued operations, net of income taxes
$
—

$
—

$
—

$
(0.01
)
$
(0.01
)
Net (loss)/income
$
(0.05
)
$
—

$
—

$
0.23

$
0.18

Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
(Loss)/income from continuing operations
$
(0.05
)
$
—

$
—

$
0.24

$
0.19

Loss from discontinued operations, net of income taxes
$
—

$
—

$
—

$
(0.01
)
$
(0.01
)
Net (loss)/income
$
(0.05
)
$
—

$
—

$
0.23

$
0.18

Dividends declared per share
$
0.04

$
—

$
0.08

$
0.04

$
0.16


(1)
We recorded restructuring charges in the second and third quarters associated with the streamlining of the Company’s international print operations.
(2)
We recorded a charge in the second quarter related to a partial withdrawal obligation under a multiemployer pension plan following an unfavorable arbitration decision, of which $5 million was reimbursed to the Company in the third quarter.
(3)
We recorded a pension settlement charge in the fourth quarter related to a lump-sum payment offer to certain former employees who participated in a qualified pension plan.
 
2015 Quarters
 
(In thousands, except per share data)
March 29, 2015

June 28,
2015

September 27, 2015

December 27, 2015

Full Year

 
(13 weeks)

(13 weeks)

(13 weeks)

(13 weeks)

(52 weeks)

Revenues
$
384,239

$
382,886

$
367,404

$
444,686

$
1,579,215

Operating costs
350,277

344,835

345,471

352,663

1,393,246

Multiemployer pension plan withdrawal expense(1)
4,697

—

—

4,358

9,055

Pension settlement charge(2)
40,329

—

—

—

40,329

Operating (loss)/profit
(11,064
)
38,051

21,933

87,665

136,585

(Loss)/income from joint ventures
(572
)
(356
)
170

(25
)
(783
)
Interest expense, net
12,192

9,776

9,127

7,955

39,050

(Loss)/income from continuing operations before income taxes
(23,828
)
27,919

12,976

79,685

96,752

Income tax (benefit)/expense
(9,407
)
11,700

3,611

28,006

33,910

Income/(loss) from continuing operations
(14,421
)
16,219

9,365

51,679

62,842

Net (loss)/income
(14,421
)
16,219

9,365

51,679

62,842

Net income attributable to the noncontrolling interest
159

181

50

14

404

Net (loss)/income attributable to The New York Times Company common stockholders
$
(14,262
)
$
16,400

$
9,415

$
51,693

$
63,246

Amounts attributable to The New York Times Company common stockholders:
 
 
 
 
 
(Loss)/income from continuing operations
$
(14,262
)
$
16,400

$
9,415

$
51,693

$
63,246

Net (loss)/income
$
(14,262
)
$
16,400

$
9,415

$
51,693

$
63,246

Average number of common shares outstanding:
 
 
 
 
 
Basic
163,988

166,355

165,052

162,179

164,390

Diluted
163,988

168,316

166,981

164,128

166,423

Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
(Loss)/income from continuing operations
$
(0.09
)
$
0.10

$
0.06

$
0.32

$
0.38

Net (loss)/income
$
(0.09
)
$
0.10

$
0.06

$
0.32

$
0.38

Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:
 
 
 
 
 
Income/(loss) from continuing operations
$
(0.09
)
$
0.10

$
0.06

$
0.31

$
0.38

Net (loss)/income
$
(0.09
)
$
0.10

$
0.06

$
0.31

$
0.38

Dividends declared per share
$
0.04

$
0.04

$
0.04

$
0.04

$
0.16


(1)
We recorded charges related to partial withdrawal obligations under multiemployer pension plans in the first and fourth quarters.
(2)
We recorded a pension settlement charge in the first quarter related to a lump-sum payment offer to certain former employees who participated in a qualified pension plan.
Earnings/(loss) per share amounts for the quarters do not necessarily equal the respective year-end amounts for earnings or loss per share due to the weighted-average number of shares outstanding used in the computations for the respective periods. Earnings/(loss) per share amounts for the respective quarters and years have been computed using the average number of common shares outstanding.
One of our largest sources of revenue is advertising. Our business has historically experienced higher advertising volume in the fourth quarter than the remaining quarters because of holiday advertising.