v3.26.1
PENSION BENEFITS
3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
PENSION BENEFITS PENSION 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 cost were as follows:
For the Quarters Ended
 March 31, 2026March 31, 2025
(In thousands)Qualified
Plans
Non-
Qualified
Plans
All
Plans
Qualified
Plans
Non-
Qualified
Plans
All
Plans
Service cost$1,977 $— $1,977 $1,661 $— $1,661 
Interest cost 11,930 1,857 13,787 13,217 2,077 15,294 
Expected return on plan assets (15,358)— (15,358)(15,282)— (15,282)
Amortization of actuarial loss 4,483 978 5,461 4,026 865 4,891 
Amortization of prior service credit (486)— (486)(486)— (486)
Net periodic pension cost$2,546 $2,835 $5,381 $3,136 $2,942 $6,078 
During the first quarters of 2026 and 2025, we made pension contributions of $3.1 million and $2.9 million, respectively, to the APP. We expect contributions made to satisfy the greater of minimum funding or collective bargaining agreement requirements to total approximately $14 million in 2026.
Multiemployer Plans
During the first quarter of 2025, the Company recorded a $4.5 million charge related to a multiemployer pension plan liability adjustment. This adjustment is recorded in Multiemployer pension plan liability adjustment in our Condensed Consolidated Statements of Operations.