0000039899-23-000044 | 10-Q | XBRL Viewer

Goodwill and other intangible assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The following table displays goodwill, indefinite-lived intangible assets, and amortizable intangible assets as of September 30, 2023 and December 31, 2022 (in thousands):


	Sept. 30, 2023				Dec. 31, 2022
	Gross		Accumulated Amortization		Gross		Accumulated Amortization

Goodwill	$	2,981,587	$	—	$	2,981,587	$	—

Indefinite-lived intangibles:
Television and radio station FCC broadcast licenses	2,124,731		—		2,123,898		—
Amortizable intangible assets:
Retransmission agreements	113,621		(90,183)		224,827		(184,796)
Network affiliation agreements	309,503		(139,042)		309,503		(121,664)
Other	71,190		(47,555)		71,465		(41,627)
Total indefinite-lived and amortizable intangible assets	$	2,619,045	$	(276,780)	$	2,729,693	$	(348,087)

Our retransmission agreements and network affiliation agreements are amortized on a straight-line basis over their estimated useful lives. Other intangibles primarily include distribution agreements from our multicast networks acquisition, which are also amortized on a straight-line basis over their useful lives. In 2023, gross intangible assets and associated accumulated amortization decreased by $111.5 million, due to certain intangible assets reaching the end of their useful lives.

Retirement plans - Narrative (Details) - USD ($)	9 Months Ended
Retirement plans - Narrative (Details) - USD ($)	Sep. 30, 2023	Sep. 30, 2022
TRP
Defined Benefit Plan Disclosure [Line Items]
Total net pension obligations	$ 78,800,000
Cash contributions	0	$ 0
TRP \| Accrued Liabilities
Defined Benefit Plan Disclosure [Line Items]
Total net pension obligations	5,600,000
SERP
Defined Benefit Plan Disclosure [Line Items]
Cash contributions	2,800,000	$ 2,900,000
Additional cash payments	$ 2,100,000

Long-term debt

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Long-term debt

Our long-term debt is summarized below (in thousands):


	Sept. 30, 2023		Dec. 31, 2022



Unsecured notes bearing fixed rate interest at 4.75% due March 2026	$	550,000	$	550,000
Unsecured notes bearing fixed rate interest at 7.75% due June 2027	200,000		200,000
Unsecured notes bearing fixed rate interest at 7.25% due September 2027	240,000		240,000
Unsecured notes bearing fixed rate interest at 4.625% due March 2028	1,000,000		1,000,000
Unsecured notes bearing fixed rate interest at 5.00% due September 2029	1,100,000		1,100,000
Total principal long-term debt	3,090,000		3,090,000
Debt issuance costs	(23,439)		(26,911)
Unamortized premiums	5,338		6,227


Total long-term debt	$	3,071,899	$	3,069,316

As of September 30, 2023, cash and cash equivalents totaled $553.0 million and we had unused borrowing capacity of $1.49 billion under our $1.51 billion revolving credit facility, which expires in August 2024. We were in compliance with all covenants, including the leverage ratio (our one financial covenant) contained in our debt agreements and revolving credit facility. We believe, based on our current financial forecasts and trends, that we will remain compliant with all covenants for the foreseeable future.

Under our revolving credit facility we have the ability to draw loans based on two different interest rate indices, one of which was previously based on the London Interbank Offered Rate (LIBOR). During the second quarter of 2023, we amended our revolving credit facility to replace the LIBOR-based interest rate index, which was phased out, with a Secured Overnight Financing Rate (SOFR)-based interest rate index. The transition from LIBOR to SOFR did not have a material impact on the Company.

Basis of presentation, terminated merger agreement and accounting policies

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Basis of presentation, terminated merger agreement and accounting policies

Basis of presentation: Our accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting, the instructions for Form 10-Q and Article 10 of the U.S. Securities and Exchange Commission (SEC) Regulation S-X. Accordingly, they do not include all information and footnotes which are normally included in the Form 10-K and annual report to shareholders. In our opinion, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with our (or TEGNA’s) audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022.

The preparation of these condensed consolidated financial statements requires us to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. We use the best information available in developing significant estimates inherent in our financial statements. Actual results could differ from these estimates, and these differences resulting from changes in facts and circumstances could be material. Significant estimates include, but are not limited to, evaluation of goodwill and other intangible assets for impairment, fair value measurements, post-retirement benefit plans, income taxes including deferred taxes, and contingencies. The condensed consolidated financial statements include the accounts of subsidiaries we control. We eliminate all intercompany balances, transactions, and profits in consolidation. Investments in entities over which we have significant influence, but do not have control, are accounted for under the equity method. Our share of net earnings and losses from these ventures is included in “Equity loss in unconsolidated investments, net” in the Consolidated Statements of Income.

We operate one operating and reportable segment, which primarily consists of our 64 television stations and two radio stations operating in 51 markets, providing high-quality television programming and digital content. Our reportable segment determination is based on our management and internal reporting structure, the nature of products and services we offer, and the financial information that is evaluated regularly by our chief operating decision maker.

Terminated Merger Agreement: On February 22, 2022, we entered into an Agreement and Plan of Merger (as amended, the Merger Agreement), with Teton Parent Corp., a newly formed Delaware corporation (Parent), Teton Merger Corp., a newly formed Delaware corporation and an indirect wholly owned subsidiary of Parent (Merger Sub), and solely for purposes of certain provisions specified therein, other subsidiaries of Parent, certain affiliates of Standard General L.P., a Delaware limited partnership (Standard General) and CMG Media Corporation, a Delaware corporation (CMG), and certain of its subsidiaries.

On May 22, 2023, after a protracted regulatory review, we terminated the Merger Agreement in accordance with its terms. Under the terms of the Merger Agreement, Parent was required to pay us a $136.0 million fee as a result of this termination. In lieu of cash payment for the termination fee, we agreed to accept from Parent 8.6 million shares of the Company’s common stock, which Parent transferred to the Company on June 1, 2023, and which was recorded as an increase to our Treasury stock. The $136.0 million termination fee was recorded as an operating item within our Consolidated Statement of Income and Consolidated Statement of Cash flow during the second quarter of 2023. Approximately $9.9 million of the termination fee was contractually due to one of the Company’s professional advisors. This expense was recorded within “Corporate - General and Administrative expenses” within our Consolidated Statement of Income.

Accounting guidance adopted in 2023: We did not adopt any new accounting guidance in 2023 that had a material impact on our consolidated financial statements or disclosures.

New accounting guidance not yet adopted: There are currently no issued accounting standards not yet adopted that we expect to have a material impact on our consolidated financial statements or disclosures.

Trade receivables and allowances for doubtful accounts: Trade receivables are recorded at invoiced amounts and generally do not bear interest. The allowance for doubtful accounts reflects our estimate of credit exposure, determined principally on the basis of our collection experience, aging of our receivables and any specific reserves needed for certain customers based on their credit risk. Our allowance also takes into account expected future trends which may impact our customers’ ability to pay, such as economic growth (or declines), unemployment and demand for our products and services. We monitor the credit quality of our customers and their ability to pay through the use of analytics and communication with individual customers. As of September 30, 2023, our allowance for doubtful accounts was $4.5 million as compared to $3.7 million as of December 31, 2022.

Programming assets: We are party to programming contracts which provide us with rights to broadcast syndicated programs, original series and films. These contracts are recorded at the gross amount of the related liability when the programs are available for telecasting. The related assets are recorded at the lower of cost or estimated net realizable value. Programming assets are classified as current (within Prepaid expenses and other current assets) or noncurrent (within Investments and other assets) in the Condensed Consolidated Balance Sheets, based on when the programming is expected to air. Expense is recognized on a straight line basis which appropriately matches the cost of the programs with the revenues associated with them.

We evaluate the net realizable value of our programming asset when a triggering event occurs, such as a change in our intended usage, or sustained lower than expected ratings for the program. We determine the net realizable value based on a projection of the estimated revenues less projected direct costs associated with the programming. If the future direct costs exceed expected revenues, impairment of the program asset may be required. In the second quarter of 2023, we recognized an impairment charge of $3.4 million related to certain programming assets. The impairment was recorded in the “Asset impairment and other” line item of the Consolidated Statements of Income.

Redeemable Noncontrolling interest: Our Premion business operates an advertising network for over-the-top (OTT) streaming and connected television platforms. In March 2020, we sold a minority interest in Premion to an affiliate of Gray Television (Gray) and entered into a commercial reselling agreement with the affiliate. During the first quarter of 2023, we entered into a multi-year extension of the reselling agreement with Gray. Gray’s investment allows it to sell its interest to Premion if there is a change in control of TEGNA or if the commercial agreement terminates. Since redemption of the minority ownership interest is outside our control, Gray’s equity interest is presented outside of the Equity section on the Condensed Consolidated Balance Sheets in the caption “Redeemable noncontrolling interest.”

Treasury Stock: We account for treasury stock under the cost method. When treasury stock is re-issued at a price higher than its cost, the difference is recorded as a component of additional paid-in-capital (APIC) in our Condensed Consolidated Balance Sheets. When treasury stock is re-issued at a price lower than its cost, the difference is recorded as a component of APIC to the extent that there are previously recorded gains to offset the losses. If there are no treasury stock gains in APIC, the losses upon re-issuance of treasury stock are recorded as a reduction of retained earnings in our Condensed Consolidated Balance Sheets.

Revenue recognition: Revenue is recognized upon the transfer of control of promised services to our customers in an amount that reflects the consideration we expect to receive in exchange for those services. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Amounts received from customers in advance of providing services to our customers are recorded as deferred revenue.

The primary sources of our revenues are: 1) subscription revenues, reflecting fees paid by satellite, cable, OTT (companies that deliver video content to consumers over the Internet) and telecommunications providers to carry our television signals on their systems; 2) advertising & marketing services revenues, which include local and national non-political television advertising, digital marketing services (including Premion), advertising on the stations’ websites, tablet and mobile products, and OTT apps; 3) political advertising revenues, which are driven by even-year election cycles at the local and national level (e.g. 2024, 2022, etc.) and particularly in the second half of those years; and 4) other services, such as production of programming, tower rentals and distribution of our local news content.

Revenue earned by these sources in the third quarter and first nine months of 2023 and 2022 are shown below (amounts in thousands):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Subscription	$	377,891	$	377,368	$	1,188,297	$	1,158,101
Advertising & Marketing Services	312,413		320,764		937,984		1,010,490
Political	11,643		92,904		22,925		161,727
Other	11,296		12,075		35,870		31,797
Total revenues	$	713,243	$	803,111	$	2,185,076	$	2,362,115

Accumulated other comprehensive loss - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 2,904,158	$ 2,741,723	$ 3,071,722	$ 2,519,906
Other comprehensive income before reclassifications				77
Amounts reclassified from AOCL	1,032	766	3,098	(13,123)
Other comprehensive income (loss), net of tax	1,032	766	3,098	(13,046)
Ending balance	2,960,540	2,878,255	2,960,540	2,878,255
Total
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(123,467)	(111,028)	(125,533)	(97,216)
Other comprehensive income (loss), net of tax	1,032	766	3,098	(13,046)
Ending balance	(122,435)	(110,262)	(122,435)	(110,262)
Retirement Plans
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(123,999)	(111,560)	(126,065)	(113,090)
Other comprehensive income before reclassifications				0
Amounts reclassified from AOCL	1,032	766	3,098	2,296
Other comprehensive income (loss), net of tax	1,032	766	3,098	2,296
Ending balance	(122,967)	(110,794)	(122,967)	(110,794)
Foreign Currency Translation
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	532	532	532	455
Other comprehensive income before reclassifications				77
Amounts reclassified from AOCL	0	0	0	0
Other comprehensive income (loss), net of tax	0	0	0	77
Ending balance	532	532	532	532
Available-For-Sale Investment
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	0	0	0	15,419
Other comprehensive income before reclassifications				0
Amounts reclassified from AOCL	0	0	0	(15,419)
Other comprehensive income (loss), net of tax	0	0	0	(15,419)
Ending balance	$ 0	$ 0	$ 0	$ 0

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net Income	$ 400,351	$ 412,384
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation and amortization	85,294	91,010
Stock-based compensation	15,403	23,625
Company stock 401(k) contribution	14,150	14,343
Gains on assets, net	(25,809)	(18,308)
Equity losses from unconsolidated investments, net	776	4,225
Merger termination fee	(136,000)	0
Pension expense, net of employer contributions	3,982	(1,697)
Change in other assets and liabilities:
Decrease in trade receivables	50,207	51,986
Increase in accounts payable	9,690	10,817
Decrease in interest and taxes payable, net	(29,601)	(23,104)
Increase in deferred revenue	4,508	22,181
Change in other assets and liabilities, net	15,888	13,243
Net cash flow from operating activities	408,839	600,705
Cash flows from investing activities:
Purchase of property and equipment	(29,301)	(35,527)
Reimbursements from spectrum repacking	0	322
Payments for acquisition of assets	(1,150)	0
Purchases of investments	(360)	(4,715)
Proceeds from investments	27,646	3,451
Proceeds from sale of assets	70	407
Net cash flow used for investing activities	(3,095)	(36,062)
Cash flows from financing activities:
Payments under revolving credit facilities, net	0	(166,000)
Dividends paid	(63,078)	(63,533)
Repurchase of common stock	(327,914)	0
Other, net	(13,403)	(15,458)
Net cash flow used for financing activities	(404,395)	(244,991)
Increase in cash and cash equivalents	1,349	319,652
Balance of cash and cash equivalents, beginning of period	551,681	56,989
Balance of cash and cash equivalents, end of period	553,030	376,641
Supplemental cash flow information:
Cash paid for income taxes, net of refunds	101,201	124,206
Cash paid for interest	$ 156,924	$ 158,293

Investments and other assets

9 Months Ended

Sep. 30, 2023

Investments, All Other Investments [Abstract]

Investments and other assets

Our investments and other assets consisted of the following as of September 30, 2023 and December 31, 2022 (in thousands):


	Sept. 30, 2023		Dec. 31, 2022

Cash value insurance	$	49,567	$	48,919

Equity method investments	16,587		17,003
Other equity investments	19,526		20,158
Deferred debt issuance costs	—		2,232
Long-term contract assets	10,907		14,135
Other long-term assets	17,632		24,047
Total	$	114,219	$	126,494

Cash value life insurance: We are the beneficiary of life insurance policies on the lives of certain employees/retirees, which are recorded at their cash surrender value as determined by the insurance carrier. These policies are utilized as a partial funding source for deferred compensation and other non-qualified employee retirement plans. Gains and losses on these investments are included in “Other non-operating items, net” within our Consolidated Statement of Income and were not material for all periods presented.

Equity method investments: These are investments in entities in which we have significant influence, but do not have a controlling financial interest. Our share of net earnings and losses from these ventures is included in “Equity loss in unconsolidated investments, net” in the Consolidated Statements of Income.

Other equity investments: Represents investments in non-public businesses that do not have readily determinable pricing, and for which we do not have control or do not exert significant influence. These investments are recorded at cost less impairments, if any, plus or minus changes in observable prices for those investments.

We own an equity investment in MadHive, Inc (MadHive) that is accounted for as an other equity investment. In the third quarter of 2023 we sold a portion of this investment for $26.4 million, which resulted in a gain of $25.8 million that was recorded in “Other non-operating items, net” within our Consolidated Statement of Income. The sale reduced our ownership in MadHive to 19% on a fully diluted basis. We determined that no write up of our remaining MadHive investment was required. See Note 10 for additional information about our investment in MadHive.

Deferred debt issuance costs: These costs consist of amounts paid to lenders related to our revolving credit facility. Debt issuance costs paid for our unsecured notes are accounted for as a reduction in the debt obligation.Long-term contract assets: These amounts primarily consist of an asset related to a long-term services agreement for IT security.

Retirement plans

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Retirement plans

We have various defined benefit retirement plans. Our principal defined benefit pension plan is the TEGNA Retirement Plan (TRP). The total net pension obligations, including both current and non-current liabilities, as of September 30, 2023, were $78.8 million, of which $5.6 million is recorded as a current obligation within accrued liabilities on the Condensed Consolidated Balance Sheet.

Pension costs (income), which primarily include costs for the qualified TRP and the non-qualified TEGNA Supplemental Retirement Plan (SERP), are presented in the following table (in thousands):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022


Interest cost on benefit obligation	$	6,133	$	4,270	$	18,399	$	12,811
Expected return on plan assets	(5,235)		(4,876)		(15,705)		(14,627)
Amortization of prior service credit	(116)		(119)		(348)		(361)
Amortization of actuarial loss	1,504		1,150		4,513		3,452

Expense from company-sponsored retirement plans	$	2,286	$	425	$	6,859	$	1,275

Benefits no longer accrue for TRP and SERP participants as a result of amendments to the plans in past years, and as such we no longer incur a service cost component of pension expense. All other components of our pension expense presented above are included within the “Other non-operating items, net” line item of the Consolidated Statements of Income.

During the nine months ended September 30, 2023 and 2022, we did not make any cash contributions to the TRP. We made benefit payments to participants of the SERP of $2.8 million during the nine month periods ended September 30, 2023 and $2.9 million in 2022. Based on actuarial projections and funding levels, we do not expect to make any cash payments to the TRP in 2023. We expect to make additional cash payments of $2.1 million to our SERP participants during the remainder of 2023.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 4,492	$ 3,697
Accumulated amortization	$ 276,780	$ 348,087
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized shares (in shares)	800,000,000	800,000,000
Common stock, issued shares (in shares)	324,418,632	324,418,632
Treasury stock, shares (in shares)	127,544,108	100,970,426

Basis of presentation, terminated merger agreement and accounting policies - Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 713,243	$ 803,111	$ 2,185,076	$ 2,362,115
Subscription
Disaggregation of Revenue [Line Items]
Total revenues	377,891	377,368	1,188,297	1,158,101
Advertising & Marketing Services
Disaggregation of Revenue [Line Items]
Total revenues	312,413	320,764	937,984	1,010,490
Political
Disaggregation of Revenue [Line Items]
Total revenues	11,643	92,904	22,925	161,727
Other
Disaggregation of Revenue [Line Items]
Total revenues	$ 11,296	$ 12,075	$ 35,870	$ 31,797

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Investments and other assets - Components of Investments and Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Cash value insurance	$ 49,567	$ 48,919
Equity method investments	16,587	17,003
Other equity investments	19,526	20,158
Deferred debt issuance costs	0	2,232
Long-term contract assets	10,907	14,135
Other long-term assets	17,632	24,047
Total	$ 114,219	$ 126,494

CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTEREST - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss	Treasury stock
Beginning balance at Dec. 31, 2021	$ 16,129
Redeemable noncontrolling interest
Net income	516
Adjustment of redeemable noncontrolling interest to redemption value	447
Ending balance at Sep. 30, 2022	17,092
Beginning balance at Dec. 31, 2021	2,519,906	$ 324,419	$ 27,941	$ 7,459,380	$ (97,216)	$ (5,194,618)
Total Equity
Net income	411,868			411,868
Other comprehensive income, net of tax	(13,046)				(13,046)
Total comprehensive income	398,822
Dividends declared	(63,533)			(63,533)
Company stock 401(k) contribution	14,343		(12,655)	(19,571)		46,569
Stock-based awards activity	(15,458)		(11,967)	(83,339)		79,848
Stock-based compensation	23,625		23,625
Adjustment of redeemable noncontrolling interest to redemption value	(447)			(447)
Other activity	997		997
Ending balance at Sep. 30, 2022	2,878,255	324,419	27,941	7,704,358	(110,262)	(5,068,201)
Beginning balance at Jun. 30, 2022	16,765
Redeemable noncontrolling interest
Net income	92
Adjustment of redeemable noncontrolling interest to redemption value	235
Ending balance at Sep. 30, 2022	17,092
Beginning balance at Jun. 30, 2022	2,741,723	324,419	27,941	7,583,436	(111,028)	(5,083,045)
Total Equity
Net income	146,065			146,065
Other comprehensive income, net of tax	766				766
Total comprehensive income	146,831
Dividends declared	(21,203)			(21,203)
Company stock 401(k) contribution	4,415		(6,328)	(3,486)		14,229
Stock-based awards activity	(1)		(397)	(219)		615
Stock-based compensation	6,416		6,416
Adjustment of redeemable noncontrolling interest to redemption value	(235)			(235)
Other activity	309		309
Ending balance at Sep. 30, 2022	2,878,255	324,419	27,941	7,704,358	(110,262)	(5,068,201)
Beginning balance at Dec. 31, 2022	17,418
Redeemable noncontrolling interest
Net income	(240)
Adjustment of redeemable noncontrolling interest to redemption value	1,281
Ending balance at Sep. 30, 2023	18,459
Beginning balance at Dec. 31, 2022	3,071,722	324,419	27,941	7,898,055	(125,533)	(5,053,160)
Total Equity
Net income	400,591			400,591
Other comprehensive income, net of tax	3,098				3,098
Total comprehensive income	403,689
Dividends declared	(63,078)			(63,078)
Company stock 401(k) contribution	14,150		(13,231)	(27,188)		54,569
Stock-based awards activity	(13,403)		(5,316)	(88,695)		80,608
Stock-based compensation	15,403		15,403
Repurchase of common stock	(467,448)		46,873	(55,780)		(458,541)
Adjustment of redeemable noncontrolling interest to redemption value	(1,281)			(1,281)
Other activity	786		786
Ending balance at Sep. 30, 2023	2,960,540	324,419	72,456	8,062,624	(122,435)	(5,376,524)
Beginning balance at Jun. 30, 2023	18,106
Redeemable noncontrolling interest
Net income	71
Adjustment of redeemable noncontrolling interest to redemption value	282
Ending balance at Sep. 30, 2023	18,459
Beginning balance at Jun. 30, 2023	2,904,158	324,419	27,941	7,989,312	(123,467)	(5,314,047)
Total Equity
Net income	96,183			96,183
Other comprehensive income, net of tax	1,032				1,032
Total comprehensive income	97,215
Dividends declared	(22,589)			(22,589)
Company stock 401(k) contribution	3,924		(11,695)	0		15,619
Stock-based awards activity	(6)		(1,707)	0		1,701
Stock-based compensation	6,558		6,558
Repurchase of common stock	(28,704)		51,093	0		(79,797)
Adjustment of redeemable noncontrolling interest to redemption value	(282)			(282)
Other activity	266		266
Ending balance at Sep. 30, 2023	$ 2,960,540	$ 324,419	$ 72,456	$ 8,062,624	$ (122,435)	$ (5,376,524)

Fair value measurement	9 Months Ended
Fair value measurement	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement We measure and record certain assets and liabilities at fair value in the accompanying condensed consolidated financial statements. U.S. GAAP establishes a hierarchy for those instruments measured at fair value that distinguishes between market data (observable inputs) and our own assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 - Quoted market prices in active markets for identical assets or liabilities; Level 2 - Inputs other than Level 1 inputs that are either directly or indirectly observable; and Level 3 - Unobservable inputs developed using our own estimates and assumptions, which reflect those that a market participant would use. In the third quarter of 2023, we recognized a gain of $25.8 million as a result of the sale of a portion of our MadHive investment. The gain was recorded in “Other non-operating items, net” within our Consolidated Statement of Income. The fair value was based on an offer price, which was settled in cash, in an inactive market (which is classified as Level 2 in the fair value hierarchy). In the second quarter of 2023, we recognized an impairment charge of $3.4 million, in “Asset impairment and other” within our Consolidated Statement of Income, related to certain programming assets. The fair value was determined based on a projection of the estimated revenues less projected direct costs associated with the programming (which is classified as Level 3 in the fair value hierarchy). In the first quarter of 2022, we recorded a $2.5 million impairment charge, in “Other non-operating items, net” within our Consolidated Statement of Income, due to the decline in the fair value of one of our investments. The fair value was determined using a market approach which was based on significant inputs not observable in the market, and thus represented a Level 3 fair value measurement. We also hold other financial instruments, including cash and cash equivalents, receivables, accounts payable and debt. The carrying amounts for cash and cash equivalents, receivables and accounts payable approximated their fair values. The fair value of our total debt, based on the bid and ask quotes for the related debt (Level 2), totaled $2.74 billion at September 30, 2023, and $2.95 billion at December 31, 2022.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and other intangible assets - Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 2,981,587	$ 2,981,587
Accumulated Amortization	0	0
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	(276,780)	(348,087)
Total indefinite-lived and amortizable intangible assets	2,619,045	2,729,693
Television and radio station FCC broadcast licenses
Indefinite-lived Intangible Assets [Line Items]
Television and radio station FCC broadcast licenses	2,124,731	2,123,898
Retransmission agreements
Finite-Lived Intangible Assets [Line Items]
Gross	113,621	224,827
Accumulated Amortization	(90,183)	(184,796)
Network affiliation agreements
Finite-Lived Intangible Assets [Line Items]
Gross	309,503	309,503
Accumulated Amortization	(139,042)	(121,664)
Other
Finite-Lived Intangible Assets [Line Items]
Gross	71,190	71,465
Accumulated Amortization	$ (47,555)	$ (41,627)

Investments and other assets - Narrative (Details) - MadHive Inc $ in Millions	3 Months Ended
	Sep. 30, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of equity method investment	$ 26.4
Pre-tax gain on sale of equity method investment	$ 25.8
Ownership interest (as a percent)	19.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Section 50
-Paragraph 2
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+ Details

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-6961
Entity Registrant Name	TEGNA INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-0442930
Entity Address, Address Line One	8350 Broad Street, Suite 2000
Entity Address, City or Town	Tysons
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102-5151
City Area Code	(703)
Local Phone Number	873-6600
Title of 12(b) Security	Common Stock
Trading Symbol	TGNA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding		196,967,937
Entity Central Index Key	0000039899
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Goodwill and other intangible assets (Tables)

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

The following table displays goodwill, indefinite-lived intangible assets, and amortizable intangible assets as of September 30, 2023 and December 31, 2022 (in thousands):


	Sept. 30, 2023				Dec. 31, 2022
	Gross		Accumulated Amortization		Gross		Accumulated Amortization

Goodwill	$	2,981,587	$	—	$	2,981,587	$	—

Indefinite-lived intangibles:
Television and radio station FCC broadcast licenses	2,124,731		—		2,123,898		—
Amortizable intangible assets:
Retransmission agreements	113,621		(90,183)		224,827		(184,796)
Network affiliation agreements	309,503		(139,042)		309,503		(121,664)
Other	71,190		(47,555)		71,465		(41,627)
Total indefinite-lived and amortizable intangible assets	$	2,619,045	$	(276,780)	$	2,729,693	$	(348,087)

Retirement plans - Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Interest cost on benefit obligation	$ 6,133	$ 4,270	$ 18,399	$ 12,811
Expected return on plan assets	(5,235)	(4,876)	(15,705)	(14,627)
Amortization of prior service credit	(116)	(119)	(348)	(361)
Amortization of actuarial loss	1,504	1,150	4,513	3,452
Expense from company-sponsored retirement plans	$ 2,286	$ 425	$ 6,859	$ 1,275

Share repurchase programs

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share repurchase programs

Accumulated other comprehensive loss

The following table summarizes the components of, and the changes in, Accumulated Other Comprehensive Loss (AOCL), net of tax (in thousands):


	Retirement Plans		Foreign Currency Translation		Available-For-Sale Investment		Total
Quarters ended:
Balance at June 30, 2023	$	(123,999)	$	532	$	—	$	(123,467)

Amounts reclassified from AOCL	1,032		—		—		1,032
Total other comprehensive income	1,032		—		—		1,032
Balance at Sept. 30, 2023	$	(122,967)	$	532	$	—	$	(122,435)

Balance at June 30, 2022	$	(111,560)	$	532	$	—	$	(111,028)

Amounts reclassified from AOCL	766		—		—		766
Total other comprehensive income	766		—		—		766
Balance at Sept. 30, 2022	$	(110,794)	$	532	$	—	$	(110,262)

	Retirement Plans		Foreign Currency Translation		Available-For-Sale Investment		Total
Nine months ended:
Balance at Dec. 31, 2022	$	(126,065)	$	532	$	—	$	(125,533)

Amounts reclassified from AOCL	3,098		—		—		3,098
Total other comprehensive income	3,098		—		—		3,098
Balance at Sept. 30, 2023	$	(122,967)	$	532	$	—	$	(122,435)

Balance at Dec. 31, 2021	$	(113,090)	$	455	$	15,419	$	(97,216)
Other comprehensive income before reclassifications	—		77		—		77
Amounts reclassified from AOCL	2,296		—		(15,419)		(13,123)
Total other comprehensive income	2,296		77		(15,419)		(13,046)
Balance at Sept. 30, 2022	$	(110,794)	$	532	$	—	$	(110,262)

Reclassifications from AOCL to the Consolidated Statements of Income are comprised of recognition of a realized gain on an available-for-sale investment as well as pension and other post-retirement components. Pension and other post retirement reclassifications are related to the amortizations of prior service costs and actuarial losses. Amounts reclassified out of AOCL are summarized below (in thousands):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Amortization of prior service credit, net	$	(116)	$	(106)	$	(348)	$	(354)
Amortization of actuarial loss	1,504		1,137		4,513		3,446

Realized gain on available-for-sale investment	—		—		—		(20,800)
Total reclassifications, before tax	1,388		1,031		4,165		(17,708)
Income tax effect	(356)		(265)		(1,067)		4,585
Total reclassifications, net of tax	$	1,032	$	766	$	3,098	$	(13,123)

Share repurchase programs

In December 2020, our Board of Directors authorized the renewal of our share repurchase program for up to $300 million of our common stock over three years. No purchases occurred under this program from its inception to June 30, 2023. In the third quarter of 2023, 1.7 million shares were repurchased under this program at an average share price of $15.96 for an aggregate cost of $27.9 million.

On June 2, 2023, we entered into an accelerated share repurchase (ASR) program with JPMorgan Chase Bank, National Association (JPMorgan). Under the terms of the ASR, we repurchased $300 million in TEGNA common shares from JPMorgan, with an initial delivery of approximately 15.2 million shares received on June 6, 2023, representing 80% ($240 million) of the value of the ASR contract. The ASR program was completed during the third quarter of 2023 at which time JPMorgan delivered an additional 3.1 million shares to us. The final share settlement was based on the average daily volume-weighted average price of TEGNA shares during the term of the ASR program, less a discount, less the previously delivered 15.2 million shares.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 96,183	$ 146,065	$ 400,591	$ 411,868

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Goodwill and other intangible assets - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Decrease in accumulated amortization	$ 111.5
Decrease in gross intangible assets	$ 111.5

Long-term debt (Tables)

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Our long-term debt is summarized below (in thousands):


	Sept. 30, 2023		Dec. 31, 2022



Unsecured notes bearing fixed rate interest at 4.75% due March 2026	$	550,000	$	550,000
Unsecured notes bearing fixed rate interest at 7.75% due June 2027	200,000		200,000
Unsecured notes bearing fixed rate interest at 7.25% due September 2027	240,000		240,000
Unsecured notes bearing fixed rate interest at 4.625% due March 2028	1,000,000		1,000,000
Unsecured notes bearing fixed rate interest at 5.00% due September 2029	1,100,000		1,100,000
Total principal long-term debt	3,090,000		3,090,000
Debt issuance costs	(23,439)		(26,911)
Unamortized premiums	5,338		6,227


Total long-term debt	$	3,071,899	$	3,069,316

Retirement plans (Tables)

9 Months Ended

Sep. 30, 2023

Retirement Benefits [Abstract]

Schedule of Benefit Costs (Income)

Pension costs (income), which primarily include costs for the qualified TRP and the non-qualified TEGNA Supplemental Retirement Plan (SERP), are presented in the following table (in thousands):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022


Interest cost on benefit obligation	$	6,133	$	4,270	$	18,399	$	12,811
Expected return on plan assets	(5,235)		(4,876)		(15,705)		(14,627)
Amortization of prior service credit	(116)		(119)		(348)		(361)
Amortization of actuarial loss	1,504		1,150		4,513		3,452

Expense from company-sponsored retirement plans	$	2,286	$	425	$	6,859	$	1,275

Earnings per share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings per share

Our earnings per share (basic and diluted) are presented below (in thousands, except per share amounts):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Net Income	$	96,254	$	146,157	$	400,351	$	412,384
Net (income) loss attributable to the noncontrolling interest	(71)		(92)		240		(516)
Adjustment of redeemable noncontrolling interest to redemption value	(282)		(235)		(1,281)		(447)
Earnings available to common shareholders	$	95,901	$	145,830	$	399,310	$	411,421

Weighted average number of common shares outstanding - basic	200,779		223,968		214,297		223,456
Effect of dilutive securities:
Restricted stock units	261		621		170		469
Performance shares	178		332		124		296

Weighted average number of common shares outstanding - diluted	201,218		224,921		214,591		224,221

Earnings per share - basic	$	0.48	$	0.65	$	1.86	$	1.84
Earnings per share - diluted	$	0.48	$	0.65	$	1.86	$	1.83

Our calculation of diluted earnings per share includes the dilutive effects for the assumed vesting of outstanding restricted stock units and performance shares.

CONSOLIDATED STATEMENTS OF EQUITY AND REDEEMABLE NONCONTROLLING INTEREST (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.11375	$ 0.095	$ 0.30375	$ 0.285

Share repurchase programs (Details) - USD ($) $ / shares in Units, shares in Millions		1 Months Ended	3 Months Ended
	Jun. 02, 2023	Dec. 31, 2020	Sep. 30, 2023
Accelerated Share Repurchase Program (ASR)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share repurchase program, authorized amount	$ 300,000,000
Number of shares repurchased (in shares)	15.2		3.1
Shares repurchased, value	$ 240,000,000
Percent repurchased	80.00%
December 2020 Share Repurchase Program
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share repurchase program, authorized amount		$ 300,000,000
Stock repurchase program, period in force		3 years
Number of shares repurchased (in shares)			1.7
Average price paid per share (in dollar per share)			$ 15.96
Shares repurchased, value			$ 27,900,000

Accumulated other comprehensive loss - Reclassifications out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	$ 1,388	$ 1,031	$ 4,165	$ (17,708)
Income tax effect	(356)	(265)	(1,067)	4,585
Total reclassifications, net of tax	1,032	766	3,098	(13,123)
Amortization of prior service credit, net
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	(116)	(106)	(348)	(354)
Amortization of actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	1,504	1,137	4,513	3,446
Realized gain on available-for-sale investment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	$ 0	$ 0	$ 0	$ (20,800)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 553,030	$ 551,681
Accounts receivable, net of allowances of $4,492 and $3,697, respectively	607,316	658,318
Other receivables	8,196	13,493
Syndicated programming rights	41,534	44,064
Prepaid expenses and other current assets	32,320	36,152
Total current assets	1,242,396	1,303,708
Property and equipment
Cost	1,057,629	1,067,191
Less accumulated depreciation	(616,178)	(610,138)
Net property and equipment	441,451	457,053
Intangible and other assets
Goodwill	2,981,587	2,981,587
Indefinite-lived and amortizable intangible assets, less accumulated amortization of $276,780 and $348,087, respectively	2,342,265	2,381,606
Right-of-use assets for operating leases	73,131	78,448
Investments and other assets	114,219	126,494
Total intangible and other assets	5,511,202	5,568,135
Total assets	7,195,049	7,328,896
Current liabilities
Accounts payable	85,902	76,212
Accrued liabilities
Compensation	57,923	50,339
Interest	12,407	45,480
Contracts payable for programming rights	124,950	117,743
Other	74,518	78,265
Income taxes payable	1,936	22,985
Total current liabilities	357,636	391,024
Noncurrent liabilities
Deferred income tax liability	576,976	556,131
Long-term debt	3,071,899	3,069,316
Pension liabilities	73,228	73,684
Operating lease liabilities	72,849	79,503
Other noncurrent liabilities	63,462	70,098
Total noncurrent liabilities	3,858,414	3,848,732
Total liabilities	4,216,050	4,239,756
Commitments and contingent liabilities (see Note 10)
Redeemable noncontrolling interest (see Note 1)	18,459	17,418
Shareholders’ equity
Common stock of $1 par value per share, 800,000,000 shares authorized, 324,418,632 shares issued	324,419	324,419
Additional paid-in capital	72,456	27,941
Retained earnings	8,062,624	7,898,055
Accumulated other comprehensive loss	(122,435)	(125,533)
Less treasury stock at cost, 127,544,108 shares and 100,970,426 shares, respectively	(5,376,524)	(5,053,160)
Total equity	2,960,540	3,071,722
Total liabilities, redeemable noncontrolling interest and equity	$ 7,195,049	$ 7,328,896

Fair value measurement (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
Fair value measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset impairment and other	$ 0	$ 3,400	$ (159)		$ 3,359	$ (322)
MadHive Inc
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Pre-tax gain on sale of equity method investment	25,800
Level 3 \| One Investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of other equity investments				$ 2,500
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of total long-term debt	$ 2,740,000				$ 2,740,000		$ 2,950,000

Basis of presentation, terminated merger agreement and accounting policies (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation: Our accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial reporting, the instructions for Form 10-Q and Article 10 of the U.S. Securities and Exchange Commission (SEC) Regulation S-X. Accordingly, they do not include all information and footnotes which are normally included in the Form 10-K and annual report to shareholders. In our opinion, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with our (or TEGNA’s) audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022.
Use of estimates	The preparation of these condensed consolidated financial statements requires us to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. We use the best information available in developing significant estimates inherent in our financial statements. Actual results could differ from these estimates, and these differences resulting from changes in facts and circumstances could be material. Significant estimates include, but are not limited to, evaluation of goodwill and other intangible assets for impairment, fair value measurements, post-retirement benefit plans, income taxes including deferred taxes, and contingencies.
Consolidation	The condensed consolidated financial statements include the accounts of subsidiaries we control. We eliminate all intercompany balances, transactions, and profits in consolidation. Investments in entities over which we have significant influence, but do not have control, are accounted for under the equity method. Our share of net earnings and losses from these ventures is included in “Equity loss in unconsolidated investments, net” in the Consolidated Statements of Income.
Terminated Merger Agreement:	Terminated Merger Agreement: On February 22, 2022, we entered into an Agreement and Plan of Merger (as amended, the Merger Agreement), with Teton Parent Corp., a newly formed Delaware corporation (Parent), Teton Merger Corp., a newly formed Delaware corporation and an indirect wholly owned subsidiary of Parent (Merger Sub), and solely for purposes of certain provisions specified therein, other subsidiaries of Parent, certain affiliates of Standard General L.P., a Delaware limited partnership (Standard General) and CMG Media Corporation, a Delaware corporation (CMG), and certain of its subsidiaries.
Accounting guidance adopted in 2023 and New accounting guidance not yet adopted	Accounting guidance adopted in 2023: We did not adopt any new accounting guidance in 2023 that had a material impact on our consolidated financial statements or disclosures. New accounting guidance not yet adopted: There are currently no issued accounting standards not yet adopted that we expect to have a material impact on our consolidated financial statements or disclosures.
Trade receivables and allowances for doubtful accounts	Trade receivables and allowances for doubtful accounts: Trade receivables are recorded at invoiced amounts and generally do not bear interest. The allowance for doubtful accounts reflects our estimate of credit exposure, determined principally on the basis of our collection experience, aging of our receivables and any specific reserves needed for certain customers based on their credit risk. Our allowance also takes into account expected future trends which may impact our customers’ ability to pay, such as economic growth (or declines), unemployment and demand for our products and services. We monitor the credit quality of our customers and their ability to pay through the use of analytics and communication with individual customers.
Programming assets	Programming assets: We are party to programming contracts which provide us with rights to broadcast syndicated programs, original series and films. These contracts are recorded at the gross amount of the related liability when the programs are available for telecasting. The related assets are recorded at the lower of cost or estimated net realizable value. Programming assets are classified as current (within Prepaid expenses and other current assets) or noncurrent (within Investments and other assets) in the Condensed Consolidated Balance Sheets, based on when the programming is expected to air. Expense is recognized on a straight line basis which appropriately matches the cost of the programs with the revenues associated with them.We evaluate the net realizable value of our programming asset when a triggering event occurs, such as a change in our intended usage, or sustained lower than expected ratings for the program. We determine the net realizable value based on a projection of the estimated revenues less projected direct costs associated with the programming.
Redeemable Noncontrolling interest	Redeemable Noncontrolling interest: Our Premion business operates an advertising network for over-the-top (OTT) streaming and connected television platforms. In March 2020, we sold a minority interest in Premion to an affiliate of Gray Television (Gray) and entered into a commercial reselling agreement with the affiliate. During the first quarter of 2023, we entered into a multi-year extension of the reselling agreement with Gray. Gray’s investment allows it to sell its interest to Premion if there is a change in control of TEGNA or if the commercial agreement terminates. Since redemption of the minority ownership interest is outside our control, Gray’s equity interest is presented outside of the Equity section on the Condensed Consolidated Balance Sheets in the caption “Redeemable noncontrolling interest.”
Treasury Stock	Treasury Stock: We account for treasury stock under the cost method. When treasury stock is re-issued at a price higher than its cost, the difference is recorded as a component of additional paid-in-capital (APIC) in our Condensed Consolidated Balance Sheets. When treasury stock is re-issued at a price lower than its cost, the difference is recorded as a component of APIC to the extent that there are previously recorded gains to offset the losses. If there are no treasury stock gains in APIC, the losses upon re-issuance of treasury stock are recorded as a reduction of retained earnings in our Condensed Consolidated Balance Sheets.
Revenue recognition	Revenue recognition: Revenue is recognized upon the transfer of control of promised services to our customers in an amount that reflects the consideration we expect to receive in exchange for those services. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. Amounts received from customers in advance of providing services to our customers are recorded as deferred revenue. The primary sources of our revenues are: 1) subscription revenues, reflecting fees paid by satellite, cable, OTT (companies that deliver video content to consumers over the Internet) and telecommunications providers to carry our television signals on their systems; 2) advertising & marketing services revenues, which include local and national non-political television advertising, digital marketing services (including Premion), advertising on the stations’ websites, tablet and mobile products, and OTT apps; 3) political advertising revenues, which are driven by even-year election cycles at the local and national level (e.g. 2024, 2022, etc.) and particularly in the second half of those years; and 4) other services, such as production of programming, tower rentals and distribution of our local news content.
Debt policy	Under our revolving credit facility we have the ability to draw loans based on two different interest rate indices, one of which was previously based on the London Interbank Offered Rate (LIBOR). During the second quarter of 2023, we amended our revolving credit facility to replace the LIBOR-based interest rate index, which was phased out, with a Secured Overnight Financing Rate (SOFR)-based interest rate index. The transition from LIBOR to SOFR did not have a material impact on the Company.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 96,254	$ 146,157	$ 400,351	$ 412,384
Other comprehensive income, before tax:
Foreign currency translation adjustments	0	0	0	142
Recognition of previously deferred post-retirement benefit plan costs	1,388	1,031	4,165	3,092
Realized gain on available-for-sale investment during the period	0	0	0	(20,800)
Other comprehensive income (loss), before tax	1,388	1,031	4,165	(17,566)
Income tax effect related to components of other comprehensive income	(356)	(265)	(1,067)	4,520
Other comprehensive income (loss), net of tax	1,032	766	3,098	(13,046)
Comprehensive income	97,286	146,923	403,449	399,338
Comprehensive (income) loss attributable to redeemable noncontrolling interest	(71)	(92)	240	(516)
Total comprehensive income	$ 97,215	$ 146,831	$ 403,689	$ 398,822

Insider Trading Arrangements	3 Months Ended	9 Months Ended
Insider Trading Arrangements	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		Rule 10b5-1 Trading Plans On August 30, 2023, David T. Lougee, President and Chief Executive Officer, entered into a Rule 10b5-1 trading arrangement (as defined in Item 408 of Regulation S-K of the Exchange Act) with the intent of selling up to 425,000 shares of the Company’s common stock for estate planning and diversification purposes. The plan expires upon the earlier of November 29, 2024, or the completion of all authorized transactions under the plan. Sales made by Mr. Lougee under the plan would represent his first sales of the Company’s stock since becoming President and CEO in 2017. If all 425,000 shares are sold during the plan period, Mr. Lougee will still hold shares of the Company’s common stock in excess of three times the Company’s CEO minimum ownership guideline. The adoption of this trading plan occurred during an open insider trading window and is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
David T. Lougee [Member]
Trading Arrangements, by Individual
Name	David T. Lougee
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Arrangement Duration	457 days
Aggregate Available	425,000	425,000

Basis of presentation, terminated merger agreement and accounting policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenue

Revenue earned by these sources in the third quarter and first nine months of 2023 and 2022 are shown below (amounts in thousands):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Subscription	$	377,891	$	377,368	$	1,188,297	$	1,158,101
Advertising & Marketing Services	312,413		320,764		937,984		1,010,490
Political	11,643		92,904		22,925		161,727
Other	11,296		12,075		35,870		31,797
Total revenues	$	713,243	$	803,111	$	2,185,076	$	2,362,115

Basis of presentation, terminated merger agreement and accounting policies - Narrative (Details) $ in Thousands, shares in Millions			3 Months Ended			9 Months Ended
	Jun. 01, 2023 shares	May 22, 2023 USD ($)	Sep. 30, 2023 USD ($) market	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment station radioStation market	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of operating segments \| segment						1
Number of reportable segments \| segment						1
Number of television stations \| station						64
Number of radio stations \| radioStation						2
Number of markets in which entity operates \| market			51			51
Allowance for doubtful accounts receivable			$ 4,492			$ 4,492		$ 3,697
Asset impairment and other			$ 0	$ 3,400	$ (159)	$ 3,359	$ (322)
Teton Parent Corp
Disaggregation of Revenue [Line Items]
Termination fee		$ 136,000		$ 136,000
Termination fee paid in shares (in shares) \| shares	8.6
Teton Parent Corp \| Advisor
Disaggregation of Revenue [Line Items]
Termination fee		$ 9,900

Other matters	9 Months Ended
Other matters	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Other matters	Other matters Litigation Antitrust matters In the third quarter of 2018, certain national media outlets reported the existence of a confidential investigation by the United States Department of Justice Antitrust Division (DOJ) into the local television advertising sales practices of station owners. We received a Civil Investigative Demand (CID) in connection with the DOJ’s investigation. On November 13 and December 13, 2018, the DOJ and seven other broadcasters settled a DOJ complaint alleging the exchange of certain competitively sensitive information in the broadcast television industry. In June 2019, we and four other broadcasters entered into a substantially identical agreement with DOJ, which was entered by the court on December 3, 2019. The settlement contains no finding of wrongdoing or liability and carries no penalty. It prohibits us and the other settling entities from sharing certain confidential business information as alleged by the DOJ, or using such information pertaining to other broadcasters, except under limited circumstances. The settlement also requires the settling parties to make certain enhancements to their antitrust compliance programs, to continue to cooperate with the DOJ’s investigation, and to permit DOJ to verify compliance. The costs of compliance have not been material, nor do we expect future compliance costs to be material. Since the national media reports, numerous putative class action lawsuits were filed against owners of television stations (the Advertising Cases) in different jurisdictions. Plaintiffs are a class consisting of all persons and entities in the United States who paid for all or a portion of advertisement time on local television provided by the defendants. The Advertising Cases assert antitrust and other claims and seek monetary damages, attorneys’ fees, costs and interest, as well as injunctions against the allegedly wrongful conduct. These cases were consolidated into a single proceeding in the United States District Court for the Northern District of Illinois, captioned In re: Local TV Advertising Antitrust Litigation on October 3, 2018. At the court’s direction, plaintiffs filed an amended complaint on April 3, 2019, that superseded the original complaints. Although we were named as a defendant in sixteen of the original complaints, the amended complaint did not name TEGNA as a defendant. After TEGNA and four other broadcasters entered into the consent decrees with the DOJ in June 2019, the plaintiffs sought leave from the court to further amend the complaint to add TEGNA and the other settling broadcasters to the proceeding. The court granted the plaintiffs’ motion, and the plaintiffs filed the second amended complaint on September 9, 2019. On October 8, 2019, the defendants jointly filed a motion to dismiss the matter. On November 6, 2020, the court denied the motion to dismiss. On March 16, 2022, the plaintiffs filed a third amended complaint, which, among other things, added ShareBuilders, Inc., as a named defendant. ShareBuilders filed a motion to dismiss on April 15, 2022, which was granted by the court without prejudice on August 29, 2022. TEGNA has filed its answer to the third amended complaint denying any violation of law and asserting various affirmative defenses. On May 26, 2023, plaintiffs moved for preliminary approval of settlements with four co-defendants – CBS Corp (n/k/a Paramount Global), Fox Corp., certain Cox entities (including Cox Media Group, LLC, Cox Enterprises, Inc., CMG Media Corporation and Cox Reps, Inc.) and ShareBuilders, Inc. Although ShareBuilders prevailed on its motion to dismiss the case, as noted above, because the court had dismissed the claims without prejudice ShareBuilders entered into a zero dollar settlement with the plaintiffs in order to ensure that the plaintiffs do not re-file the claims in the future. In exchange for a release of plaintiffs’ claims against them, the settling defendants, among other things, collectively agreed to pay $48 million, while expressly denying any liability or wrongdoing. The Court is in the process of reviewing the proposed settlements to determine whether they are fair to the proposed settlement class, the settling defendants, and the non-settling defendants. A hearing on final approval of the settlements is currently scheduled for December 7, 2023. Discovery in the Advertising Cases is ongoing. We believe that the claims asserted in the Advertising Cases are without merit and intend to defend vigorously against them. Claims related to the Merger In 2022, seven lawsuits were filed by purported TEGNA stockholders against TEGNA and the members of the TEGNA Board of Directors, generally alleging that the preliminary proxy statement filed by TEGNA with the SEC on March 25, 2022 in connection with the Merger contained alleged material misstatements and/or omissions in violation of federal law. Plaintiffs generally sought, among other things, to enjoin TEGNA from consummating the Merger, or in the alternative, rescission of the Merger and/or compensatory damages, as well as attorneys’ fees. As of November 7, 2023, all seven of the lawsuits have been voluntarily dismissed. In addition, as of November 7, 2023, TEGNA received four demand letters from purported TEGNA shareholders in connection with TEGNA’s filing of a definitive proxy statement with the SEC on April 13, 2022 relating to the Merger (the “definitive proxy statement”). Each letter alleged deficiencies in the definitive proxy statement that were similar to the deficiencies alleged in the complaints referenced above. We believe that the claims asserted in the letters described above are without merit and are moot in light of TEGNA’s termination of the Merger agreement. Moreover, although we believe that no additional disclosures were or are required under applicable law, TEGNA, without admitting any liability or wrongdoing, voluntarily made supplemental disclosures to the definitive proxy statement as described in the Form 8-K filed by TEGNA with the SEC on May 9, 2022. Notwithstanding TEGNA’s termination of the Merger Agreement, additional lawsuits arising out of the Merger could also be filed in the future. Other litigation matters We, along with a number of our subsidiaries, also are defendants in other judicial and administrative proceedings involving matters incidental to our business. We do not believe that any material liability will be imposed as a result of any of the foregoing matters. Related Party Transactions We have an equity investment in MadHive, Inc. (MadHive) which is a related party of TEGNA. We also have commercial agreements with MadHive, under which MadHive supports our Premion business in acquiring over-the-top advertising inventory and delivering corresponding advertising impressions. In the third quarter and first nine months of 2023, we incurred expenses of $22.7 million and $71.8 million, respectively, as a result of the commercial agreements with MadHive. In the third quarter and first nine months of 2022, we incurred expenses of $30.4 million and $86.3 million, respectively, as a result of the commercial agreements with MadHive. As of September 30, 2023, and December 31, 2022 we had accounts payable and accrued liabilities associated with the MadHive commercial agreements of $6.6 million and $10.0 million, respectively. In December 2021, we renewed our commercial agreements with MadHive. Simultaneously with the commercial agreement renewals, we also amended the terms of our then-outstanding available-for-sale convertible debt security investment. In exchange for the convertible debt modifications, we received favorable terms in our renewed commercial agreements. We estimated the fair value of our available-for-sale security at December 31, 2021 using a market fair value approach based on the cash we expected to receive upon maturity of the note and the estimated cash savings that the favorable contract terms would provide over the term of the commercial agreements. In January 2022, we recorded an intangible contract asset for $20.8 million (equal to the estimated cash savings), and are amortizing this asset on a straight-line basis over the noncancellable term of the commercial agreements of two years. This non-cash expense is recorded within “Cost of revenues,” within our Consolidated Statement of Income. The debt matured in June 2022 at which time the principal balance of $3.0 million plus accrued interest was paid to us. In the second quarter of 2023, we further extended the terms of our commercial agreement with MadHive for an additional two years, through December 31, 2025.

Accumulated other comprehensive loss (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table summarizes the components of, and the changes in, Accumulated Other Comprehensive Loss (AOCL), net of tax (in thousands):


	Retirement Plans		Foreign Currency Translation		Available-For-Sale Investment		Total
Quarters ended:
Balance at June 30, 2023	$	(123,999)	$	532	$	—	$	(123,467)

Amounts reclassified from AOCL	1,032		—		—		1,032
Total other comprehensive income	1,032		—		—		1,032
Balance at Sept. 30, 2023	$	(122,967)	$	532	$	—	$	(122,435)

Balance at June 30, 2022	$	(111,560)	$	532	$	—	$	(111,028)

Amounts reclassified from AOCL	766		—		—		766
Total other comprehensive income	766		—		—		766
Balance at Sept. 30, 2022	$	(110,794)	$	532	$	—	$	(110,262)

	Retirement Plans		Foreign Currency Translation		Available-For-Sale Investment		Total
Nine months ended:
Balance at Dec. 31, 2022	$	(126,065)	$	532	$	—	$	(125,533)

Amounts reclassified from AOCL	3,098		—		—		3,098
Total other comprehensive income	3,098		—		—		3,098
Balance at Sept. 30, 2023	$	(122,967)	$	532	$	—	$	(122,435)

Balance at Dec. 31, 2021	$	(113,090)	$	455	$	15,419	$	(97,216)
Other comprehensive income before reclassifications	—		77		—		77
Amounts reclassified from AOCL	2,296		—		(15,419)		(13,123)
Total other comprehensive income	2,296		77		(15,419)		(13,046)
Balance at Sept. 30, 2022	$	(110,794)	$	532	$	—	$	(110,262)

Schedule of Reclassification out of Accumulated Other Comprehensive Loss

Amounts reclassified out of AOCL are summarized below (in thousands):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Amortization of prior service credit, net	$	(116)	$	(106)	$	(348)	$	(354)
Amortization of actuarial loss	1,504		1,137		4,513		3,446

Realized gain on available-for-sale investment	—		—		—		(20,800)
Total reclassifications, before tax	1,388		1,031		4,165		(17,708)
Income tax effect	(356)		(265)		(1,067)		4,585
Total reclassifications, net of tax	$	1,032	$	766	$	3,098	$	(13,123)

Earnings per share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Our earnings per share (basic and diluted) are presented below (in thousands, except per share amounts):


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Net Income	$	96,254	$	146,157	$	400,351	$	412,384
Net (income) loss attributable to the noncontrolling interest	(71)		(92)		240		(516)
Adjustment of redeemable noncontrolling interest to redemption value	(282)		(235)		(1,281)		(447)
Earnings available to common shareholders	$	95,901	$	145,830	$	399,310	$	411,421

Weighted average number of common shares outstanding - basic	200,779		223,968		214,297		223,456
Effect of dilutive securities:
Restricted stock units	261		621		170		469
Performance shares	178		332		124		296

Weighted average number of common shares outstanding - diluted	201,218		224,921		214,591		224,221

Earnings per share - basic	$	0.48	$	0.65	$	1.86	$	1.84
Earnings per share - diluted	$	0.48	$	0.65	$	1.86	$	1.83

Long-term debt - Narrative (Details)	Sep. 30, 2023 USD ($) covenant	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Cash and cash equivalents	$ 553,030,000	$ 551,681,000
Number of covenants \| covenant	1
Amended and Restated Competitive Advance and Revolving Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Unused borrowing capacity	$ 1,490,000,000
Maximum borrowing capacity under credit facility	$ 1,510,000,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482900/835-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(f))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69F
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1D
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1D
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1D

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Paragraph 1F
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1F

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Other matters (Details)				1 Months Ended			3 Months Ended			9 Months Ended
Other matters (Details)	Nov. 07, 2023 lawsuit letter	May 26, 2023 USD ($) preliminaryApproval	Oct. 03, 2018 defendant	Jun. 30, 2022 USD ($)	Jun. 30, 2019 defendant	Dec. 13, 2018 defendant	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jan. 31, 2022 USD ($)
Business Acquisition [Line Items]
Corporate - General and administrative expenses							$ 13,552,000	$ 13,367,000		$ 52,158,000	$ 48,299,000
Related Party
Business Acquisition [Line Items]
Proceeds from maturity of debt securities available for sale				$ 3,000,000
Related Party \| Intangible Contract Asset
Business Acquisition [Line Items]
Amount of intangible contract asset													$ 20,800,000
Intangible asset useful life													2 years
Related Party \| MadHive Inc
Business Acquisition [Line Items]
Agreement term extension period									2 years
Equity And Debt Investment \| Related Party
Business Acquisition [Line Items]
Corporate - General and administrative expenses							22,700,000	$ 30,400,000		71,800,000	$ 86,300,000
Accounts payable							$ 6,600,000			$ 6,600,000		$ 10,000,000
Clay, Massey & Associates, P.C. v. Gray Television
Business Acquisition [Line Items]
Number of other broadcasters settling DOJ complaint (defendant) \| defendant			16		4
Number of co defendants \| preliminaryApproval		4
Settlement amount		$ 0
Loss contingency, damages sought, value		$ 48,000,000
Settled Litigation
Business Acquisition [Line Items]
Number of other broadcasters settling DOJ complaint (defendant) \| defendant					4	7
Pending Litigation \| Merger Related Lawsuits \| Subsequent Event
Business Acquisition [Line Items]
Number of lawsuit filed \| lawsuit	7
Number of demand letter received \| letter	4

Investments and other assets (Tables)

9 Months Ended

Sep. 30, 2023

Investments, All Other Investments [Abstract]

Schedule of Other Assets

Our investments and other assets consisted of the following as of September 30, 2023 and December 31, 2022 (in thousands):


	Sept. 30, 2023		Dec. 31, 2022

Cash value insurance	$	49,567	$	48,919

Equity method investments	16,587		17,003
Other equity investments	19,526		20,158
Deferred debt issuance costs	—		2,232
Long-term contract assets	10,907		14,135
Other long-term assets	17,632		24,047
Total	$	114,219	$	126,494

CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2023

Sep. 30, 2022

Sep. 30, 2023

Sep. 30, 2022

Income Statement [Abstract]

Revenues

$ 713,243

$ 803,111

$ 2,185,076

$ 2,362,115

Operating expenses:

Cost of revenues

^[1]

438,260

428,891

1,295,720

1,260,576

Business units - Selling, general and administrative expenses

98,394

98,582

294,734

300,136

Corporate - General and administrative expenses

13,552

13,367

52,158

48,299

Depreciation

15,083

15,219

45,119

46,058

Amortization of intangible assets

13,297

14,953

40,175

44,952

Asset impairment and other

(159)

3,359

(322)

Merger termination fee

(136,000)

Total

578,586

570,853

1,595,265

1,699,699

Operating income

134,657

232,258

589,811

662,416

Non-operating (expense) income:

Equity loss in unconsolidated investments, net

(256)

(178)

(776)

(4,225)

Interest expense

(43,418)

(43,406)

(129,121)

(129,976)

Other non-operating items, net

33,072

1,310

44,264

16,764

Total

(10,602)

(42,274)

(85,633)

(117,437)

Income before income taxes

124,055

189,984

504,178

544,979

Provision for income taxes

27,801

43,827

103,827

132,595

Net Income

96,254

146,157

400,351

412,384

Net (income) loss attributable to redeemable noncontrolling interest

(71)

(92)

240

(516)

Net income attributable to TEGNA Inc.

$ 96,183

$ 146,065

$ 400,591

$ 411,868

Earnings per share:

Basic (in dollars per share)

$ 0.48

$ 0.65

$ 1.86

$ 1.84

Diluted (in dollars per share)

$ 0.48

$ 0.65

$ 1.86

$ 1.83

Weighted average number of common shares outstanding:

Basic shares (in shares)

200,779

223,968

214,297

223,456

Diluted shares (in shares)

201,218

224,921

214,591

224,221

[1]	1 Cost of revenues exclude charges for depreciation and amortization expense, which are shown separately.

Earnings per share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income	$ 96,254	$ 146,157	$ 400,351	$ 412,384
Net (income) loss attributable to the noncontrolling interest	(71)	(92)	240	(516)
Adjustment of redeemable noncontrolling interest to redemption value	(282)	(235)	(1,281)	(447)
Earnings available to common shareholders, basic	95,901	145,830	399,310	411,421
Earnings available to common shareholders, diluted	$ 95,901	$ 145,830	$ 399,310	$ 411,421
Weighted average number of common shares outstanding - basic (in shares)	200,779	223,968	214,297	223,456
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted average number of common shares outstanding - diluted (in shares)	201,218	224,921	214,591	224,221
Earnings per share – basic (in dollars per share)	$ 0.48	$ 0.65	$ 1.86	$ 1.84
Earnings per share – diluted (in dollars per share)	$ 0.48	$ 0.65	$ 1.86	$ 1.83
Restricted stock units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities (in shares)	261	621	170	469
Performance shares
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Effect of dilutive securities (in shares)	178	332	124	296

Accumulated other comprehensive loss

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Accumulated other comprehensive loss

The following table summarizes the components of, and the changes in, Accumulated Other Comprehensive Loss (AOCL), net of tax (in thousands):


	Retirement Plans		Foreign Currency Translation		Available-For-Sale Investment		Total
Quarters ended:
Balance at June 30, 2023	$	(123,999)	$	532	$	—	$	(123,467)

Amounts reclassified from AOCL	1,032		—		—		1,032
Total other comprehensive income	1,032		—		—		1,032
Balance at Sept. 30, 2023	$	(122,967)	$	532	$	—	$	(122,435)

Balance at June 30, 2022	$	(111,560)	$	532	$	—	$	(111,028)

Amounts reclassified from AOCL	766		—		—		766
Total other comprehensive income	766		—		—		766
Balance at Sept. 30, 2022	$	(110,794)	$	532	$	—	$	(110,262)

	Retirement Plans		Foreign Currency Translation		Available-For-Sale Investment		Total
Nine months ended:
Balance at Dec. 31, 2022	$	(126,065)	$	532	$	—	$	(125,533)

Amounts reclassified from AOCL	3,098		—		—		3,098
Total other comprehensive income	3,098		—		—		3,098
Balance at Sept. 30, 2023	$	(122,967)	$	532	$	—	$	(122,435)

Balance at Dec. 31, 2021	$	(113,090)	$	455	$	15,419	$	(97,216)
Other comprehensive income before reclassifications	—		77		—		77
Amounts reclassified from AOCL	2,296		—		(15,419)		(13,123)
Total other comprehensive income	2,296		77		(15,419)		(13,046)
Balance at Sept. 30, 2022	$	(110,794)	$	532	$	—	$	(110,262)


	Quarter ended Sept. 30,				Nine months ended Sept. 30,
	2023		2022		2023		2022

Amortization of prior service credit, net	$	(116)	$	(106)	$	(348)	$	(354)
Amortization of actuarial loss	1,504		1,137		4,513		3,446

Realized gain on available-for-sale investment	—		—		—		(20,800)
Total reclassifications, before tax	1,388		1,031		4,165		(17,708)
Income tax effect	(356)		(265)		(1,067)		4,585
Total reclassifications, net of tax	$	1,032	$	766	$	3,098	$	(13,123)

Share repurchase programs

- Definition

The entire disclosure for equity.

+ References

+ Details

Long-term debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total principal long-term debt	$ 3,090,000	$ 3,090,000
Debt issuance costs	(23,439)	(26,911)
Unamortized premiums	5,338	6,227
Total long-term debt	$ 3,071,899	3,069,316
Unsecured notes bearing fixed rate interest at 4.75% due March 2026 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.0475%
Total principal long-term debt	$ 550,000	550,000
Unsecured notes bearing fixed rate interest at 7.75% due June 2027 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.0775%
Total principal long-term debt	$ 200,000	200,000
Unsecured notes bearing fixed rate interest at 7.25% due September 2027 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.0725%
Total principal long-term debt	$ 240,000	240,000
Unsecured notes bearing fixed rate interest at 4.625% due March 2028 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.04625%
Total principal long-term debt	$ 1,000,000	1,000,000
Unsecured notes bearing fixed rate interest at 5.00% due September 2029 \| Senior Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)	0.05%
Total principal long-term debt	$ 1,100,000	$ 1,100,000