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Pension and Other Postretirement Benefits
6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
PENSION AND OTHER POSTRETIREMENT BENEFITS PENSION AND OTHER POSTRETIREMENT BENEFITS
Pension
Single-Employer Plans
We maintain The New York Times Companies Pension Plan, a frozen single-employer defined benefit pension plan. The Company also jointly sponsors a defined benefit plan with The NewsGuild of New York known as the Guild-Times Adjustable Pension Plan (the “APP”) that continues to accrue active benefits.
We also have a foreign-based pension plan for certain employees (the “foreign plan”). The information for the foreign plan is combined with the information for U.S. non-qualified plans. The benefit obligation of the foreign plan is immaterial to our total benefit obligation.
The components of net periodic pension (income)/cost were as follows:
For the Quarters Ended
 June 30, 2024June 30, 2023
(In thousands)Qualified
Plans
Non-
Qualified
Plans
All
Plans
Qualified
Plans
Non-
Qualified
Plans
All
Plans
Service cost$1,541 $— $1,541 $1,417 $— $1,417 
Interest cost 13,376 2,206 15,582 14,198 2,296 16,494 
Expected return on plan assets (18,109)— (18,109)(19,122)— (19,122)
Amortization of actuarial loss 2,603 997 3,600 663 890 1,553 
Amortization of prior service credit (486)— (486)(486)— (486)
Effect of settlement— (27)(27)— — — 
Net periodic pension (income)/cost$(1,075)$3,176 $2,101 $(3,330)$3,186 $(144)
For the Six Months Ended
 June 30, 2024June 30, 2023
(In thousands)Qualified
Plans
Non-
Qualified
Plans
All
Plans
Qualified
Plans
Non-
Qualified
Plans
All
Plans
Service cost$3,082 $— $3,082 $2,835 $— $2,835 
Interest cost 26,752 4,413 31,165 28,396 4,591 32,987 
Expected return on plan assets (36,218)— (36,218)(38,245)— (38,245)
Amortization of actuarial loss 5,206 1,994 7,200 1,327 1,780 3,107 
Amortization of prior service credit (972)— (972)(972)— (972)
Effect of settlement— (27)(27)— — — 
Net periodic pension (income)/cost$(2,150)$6,380 $4,230 $(6,659)$6,371 $(288)
During the first six months of 2024 and 2023, we made pension contributions of $6.3 million and $4.5 million, respectively, to the APP. We expect to make contractual contributions in 2024 of approximately $12 million, which more than satisfy minimum funding requirements.
Other Postretirement Benefits
The components of net periodic postretirement benefit cost were as follows:
For the Quarters EndedFor the Six Months Ended
(In thousands)June 30, 2024June 30, 2023June 30, 2024June 30, 2023
Service cost$$$$17 
Interest cost 272 375 544 750 
Amortization of actuarial loss 174 486 348 972 
Net periodic postretirement benefit cost$450 $869 $900 $1,739