
	For the Quarters Ended				For the Six Months Ended
(In thousands)	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
Interest income	$	10,095	$	8,948	$	20,315	$	17,586


Interest expense	(343)		(252)		(591)		(503)


Total interest income and other, net	$	9,752	$	8,696	$	19,724	$	17,083

On December 9, 2020, we entered into an agreement to lease and subsequently sell approximately four acres of excess land at our printing and distribution facility in College Point, N.Y. The transaction was accounted for as a sales-type lease and, as a result, we recognized a gain at the time of the lease commencement on April 11, 2022. On February 21, 2025, we finalized the sale and received net proceeds of approximately $33 million, which were recorded in Net cash provided by operating activities – Other assets in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025.

A reconciliation of cash, cash equivalents and restricted cash as of June 30, 2025, and June 30, 2024, from the Condensed Consolidated Balance Sheets to the Condensed Consolidated Statements of Cash Flows is as follows:


(In thousands)	June 30, 2025		June 30, 2024
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	198,242	$	222,946

Restricted cash included within miscellaneous assets	14,715		14,060
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	$	212,957	$	237,006

On June 13, 2025, the Company entered into an amendment and restatement of its previous credit facility that, among other changes, increased the committed amount to $400.0 million and extended the maturity date to June 13, 2030 (as amended and restated, the “Credit Facility”). Certain of the Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Facility. Borrowings under the Credit Facility bear interest at specified rates based on our utilization and consolidated leverage ratio. The Credit Facility contains various customary affirmative and negative covenants. In addition, the Company is obligated to pay a quarterly unused commitment fee at an annual rate of 0.20%.

As of June 30, 2025, and December 31, 2024, there were no borrowings and approximately $0.6 million in outstanding letters of credit, with the remaining committed amount available. As of June 30, 2025, the Company was in compliance with the financial covenants contained in the Credit Facility.

We recognized $1.0 million and $1.5 million in severance costs for the second quarters of 2025 and 2024, respectively, and $3.6 million and $5.9 million for the first six months of 2025 and 2024, respectively. These costs are recorded in General and administrative costs in our Condensed Consolidated Statements of Operations.

We had a severance liability of $5.2 million and $4.8 million included in Accrued expenses and other in our Condensed Consolidated Balance Sheets as of June 30, 2025, and December 31, 2024, respectively.

The Company recorded $3.5 million and $2.0 million of pre-tax litigation-related costs for the second quarters of 2025 and 2024, respectively, and $7.9 million and $3.0 million for the first six months of 2025 and 2024, respectively, in connection with a lawsuit against Microsoft Corporation (“Microsoft”) and Open AI Inc. and various of its corporate affiliates (collectively, “OpenAI”), alleging unlawful and unauthorized copying and use of the Company’s journalism and other content in connection with their development of generative artificial intelligence products (“Generative AI Litigation Costs”). See Note 14 for additional information.