0000058361
2020-09-28
2020-12-27
0000058361
2021-01-31
0000058361
2020-12-27
0000058361
2020-09-27
0000058361
us-gaap:PensionPlansDefinedBenefitMember
2020-12-27
0000058361
us-gaap:PensionPlansDefinedBenefitMember
2020-09-27
0000058361
us-gaap:DefinedBenefitPostretirementHealthCoverageMember
2020-12-27
0000058361
us-gaap:DefinedBenefitPostretirementHealthCoverageMember
2020-09-27
0000058361
us-gaap:CommonClassAMember
2020-12-27
0000058361
us-gaap:CommonClassAMember
2020-09-27
0000058361
us-gaap:CommonClassBMember
2020-12-27
0000058361
us-gaap:CommonClassBMember
2020-09-27
0000058361
lee:AdvertisingAndMarketingServicesMember
2020-09-28
2020-12-27
0000058361
lee:AdvertisingAndMarketingServicesMember
2019-09-30
2019-12-29
0000058361
us-gaap:SubscriptionAndCirculationMember
2020-09-28
2020-12-27
0000058361
us-gaap:SubscriptionAndCirculationMember
2019-09-30
2019-12-29
0000058361
us-gaap:ProductAndServiceOtherMember
2020-09-28
2020-12-27
0000058361
us-gaap:ProductAndServiceOtherMember
2019-09-30
2019-12-29
0000058361
2019-09-30
2019-12-29
0000058361
us-gaap:RetainedEarningsMember
2020-09-27
0000058361
us-gaap:CommonStockMember
2020-09-27
0000058361
us-gaap:AdditionalPaidInCapitalMember
2020-09-27
0000058361
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-09-27
0000058361
us-gaap:RetainedEarningsMember
2020-09-28
2020-12-27
0000058361
us-gaap:CommonStockMember
2020-09-28
2020-12-27
0000058361
us-gaap:AdditionalPaidInCapitalMember
2020-09-28
2020-12-27
0000058361
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-09-28
2020-12-27
0000058361
us-gaap:RetainedEarningsMember
2020-12-27
0000058361
us-gaap:CommonStockMember
2020-12-27
0000058361
us-gaap:AdditionalPaidInCapitalMember
2020-12-27
0000058361
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-27
0000058361
us-gaap:RetainedEarningsMember
2019-09-29
0000058361
us-gaap:CommonStockMember
2019-09-29
0000058361
us-gaap:AdditionalPaidInCapitalMember
2019-09-29
0000058361
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-09-29
0000058361
2019-09-29
0000058361
us-gaap:RetainedEarningsMember
2019-09-30
2019-12-29
0000058361
us-gaap:CommonStockMember
2019-09-30
2019-12-29
0000058361
us-gaap:AdditionalPaidInCapitalMember
2019-09-30
2019-12-29
0000058361
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-09-30
2019-12-29
0000058361
us-gaap:RetainedEarningsMember
2019-12-29
0000058361
us-gaap:CommonStockMember
2019-12-29
0000058361
us-gaap:AdditionalPaidInCapitalMember
2019-12-29
0000058361
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-12-29
0000058361
2019-12-29
0000058361
lee:INNPartnersLCMember
2020-12-27
0000058361
lee:TNIPartnersMember
2020-12-27
0000058361
lee:MNIMember
2020-12-27
0000058361
lee:BHMGMember
2020-01-29
2020-01-29
0000058361
lee:BHMGMember
2020-03-16
2020-03-16
0000058361
lee:BHMGMember
2020-01-29
0000058361
lee:DigitalServicesRevenuesMember
2020-09-28
2020-12-27
0000058361
lee:DigitalServicesRevenuesMember
2019-09-30
2019-12-29
0000058361
lee:OtherRevenuesMember
2020-09-28
2020-12-27
0000058361
lee:OtherRevenuesMember
2019-09-30
2019-12-29
0000058361
lee:TNIPartnersMember
2020-09-28
2020-12-27
0000058361
lee:TNIPartnersMember
2019-09-30
2019-12-29
0000058361
lee:TNIPartnersMember
2020-12-27
0000058361
lee:TNIPartnersMember
2019-12-29
0000058361
lee:TNIPartnersMember
2020-09-28
2020-12-27
0000058361
lee:TNIPartnersMember
2019-09-30
2019-12-29
0000058361
lee:MadisonNewspapersIncMember
2020-09-28
2020-12-27
0000058361
lee:MadisonNewspapersIncMember
2019-09-30
2019-12-29
0000058361
lee:CustomerAndNewspaperSubscriberListsMember
2020-12-27
0000058361
lee:CustomerAndNewspaperSubscriberListsMember
2020-09-27
0000058361
us-gaap:NoncompeteAgreementsMember
2020-12-27
0000058361
us-gaap:NoncompeteAgreementsMember
2020-09-27
0000058361
lee:BHMGMember
lee:AdvertiserRelationshipsMember
2020-12-27
0000058361
lee:BHMGMember
lee:SubscriberRelationshipsMember
2020-12-27
0000058361
lee:BHMGMember
lee:CommercialPrintRelationshipsMember
2020-12-27
0000058361
lee:BHMGMember
lee:MastheadsMember
2020-12-27
0000058361
2020-03-16
2020-03-16
0000058361
2020-03-16
0000058361
lee:CreditAgreementMember
lee:BHFinanceMember
lee:SecuredTermLoanMember
2020-03-16
2020-03-16
0000058361
lee:CreditAgreementMember
lee:BHFinanceMember
lee:SecuredTermLoanMember
2020-03-16
0000058361
lee:SeniorSecuredNotesMember
2014-03-31
0000058361
lee:SecondLienCreditFaclityMember
lee:TermLoanMember
2014-03-31
0000058361
lee:SeniorSecuredNotesAnd2ndLienTermLoanMember
2020-03-16
2020-03-16
0000058361
lee:TermLoanMember
2020-12-27
0000058361
lee:TermLoanMember
2020-09-27
0000058361
us-gaap:SubsequentEventMember
2021-01-01
2021-01-31
0000058361
lee:WarrantsIssuedInConnectionWithSecondLienTermLoanMember
2014-03-31
0000058361
lee:WarrantsIssuedInConnectionWithSecondLienTermLoanMember
2014-03-31
2014-03-31
0000058361
lee:BHMGMember
us-gaap:PensionPlansDefinedBenefitMember
2020-03-16
0000058361
lee:BHMGMember
us-gaap:PostemploymentRetirementBenefitsMember
2020-03-16
0000058361
us-gaap:PostemploymentRetirementBenefitsMember
2020-09-28
2020-12-27
0000058361
us-gaap:PensionPlansDefinedBenefitMember
2020-09-28
2020-12-27
0000058361
us-gaap:PensionPlansDefinedBenefitMember
2019-09-30
2019-12-29
0000058361
us-gaap:DefinedBenefitPostretirementHealthCoverageMember
2020-09-28
2020-12-27
0000058361
us-gaap:DefinedBenefitPostretirementHealthCoverageMember
2019-09-30
2019-12-29
0000058361
lee:BHMGMember
2020-03-16
0000058361
lee:BHMGMember
2020-12-27
0000058361
lee:BHMGMember
2020-03-17
2020-12-27
0000058361
lee:BHMGMember
lee:AdvertiserRelationshipsMember
2020-03-16
0000058361
lee:BHMGMember
lee:AdvertiserRelationshipsMember
2020-03-17
2020-12-27
0000058361
lee:BHMGMember
lee:SubscriberRelationshipsMember
2020-03-16
0000058361
lee:BHMGMember
lee:SubscriberRelationshipsMember
2020-03-17
2020-12-27
0000058361
lee:BHMGMember
lee:CommercialPrintRelationshipsMember
2020-03-16
0000058361
lee:BHMGMember
lee:CommercialPrintRelationshipsMember
2020-03-17
2020-12-27
0000058361
lee:BHMGMember
lee:MastheadsMember
2020-03-16
0000058361
lee:BHMGMember
lee:MastheadsMember
2020-03-17
2020-12-27
0000058361
lee:BHMGMember
lee:MastheadsMember
2020-12-27
0000058361
lee:BHMGMember
2020-12-27
2020-12-27
0000058361
lee:BHMGMember
2020-09-28
2020-12-27
0000058361
lee:BHMGMember
2019-09-30
2019-12-29
0000058361
lee:BHMGMember
us-gaap:AcquisitionRelatedCostsMember
2019-09-30
2019-12-29
0000058361
us-gaap:StateAndLocalJurisdictionMember
2020-09-27
0000058361
us-gaap:RestrictedStockMember
2020-09-27
0000058361
us-gaap:RestrictedStockMember
2020-09-28
2020-12-27
0000058361
us-gaap:RestrictedStockMember
2020-12-27
0000058361
us-gaap:FairValueInputsLevel3Member
2020-12-27
0000058361
lee:TCTAndPrivateEquityInvestmentMember
us-gaap:FairValueInputsLevel3Member
2020-12-27
0000058361
lee:SeniorSecuredNotesMember
us-gaap:FairValueInputsLevel2Member
2020-12-27
0000058361
us-gaap:FairValueInputsLevel2Member
2020-12-27
0000058361
us-gaap:FairValueInputsLevel2Member
2014-03-31
0000058361
us-gaap:EmployeeSeveranceMember
2020-09-28
2020-12-27
shares
thunderdome:item
iso4217:USD
iso4217:USD
shares
pure
utr:Y
utr:D
0000058361
LEE ENTERPRISES, INC
false
--09-26
Q1
2021
0
0
500000
500000
0
0
0.01
0.01
120000000
120000000
58765000
58765000
58353000
58353000
2
2
30000000
30000000
0
0
-23830000
0.50
0.50
-152000
1000
0
10-Q
true
2020-12-27
false
1-6227
DE
42-0823980
4600 E. 53rd Street
Davenport
IA
52807
563
383-2100
Common Stock, par value $.01 per share
LEE
NYSE
Yes
Yes
Non-accelerated Filer
true
false
false
58764532
37142000
33733000
68031000
52598000
6957000
7534000
13690000
14888000
125820000
108753000
28204000
27624000
6424000
6255000
34628000
33879000
17964000
18711000
116397000
128475000
236332000
245117000
3526000
2323000
374219000
394626000
278643000
289017000
95576000
105609000
71579000
70933000
328848000
328445000
176887000
182680000
5042000
4147000
15803000
15912000
13132000
13699000
867315000
864057000
8465000
8577000
17142000
13733000
18011000
17163000
54798000
44278000
2940000
0
60176000
60271000
161532000
144022000
506414000
524557000
63124000
62374000
73880000
75656000
15222000
39543000
15155000
15208000
18778000
18048000
25613000
14282000
879718000
893690000
0
0
588000
584000
0
0
256593000
256431000
-252627000
-268529000
-18908000
-20050000
-14354000
-31564000
1951000
1931000
-12403000
-29633000
867315000
864057000
102629000
65727000
90508000
41694000
18680000
14922000
211817000
122343000
84163000
43243000
7992000
4736000
81767000
48462000
10441000
6719000
-5222000
-814000
3167000
1632000
192752000
105606000
1743000
1569000
20808000
18306000
11882000
11115000
-0
1196000
-23830000
-0
12310000
-0
2268000
1593000
1906000
-10718000
22714000
7588000
6311000
1871000
16403000
5717000
501000
397000
15902000
5320000
1142000
317000
17044000
5637000
0.28
0.09
0.28
0.09
-268529000
584000
256431000
-20050000
-31564000
0
4000
-58000
0
-54000
15902000
0
0
0
15902000
0
0
220000
0
220000
0
0
0
1347000
1347000
-0
-0
-0
205000
205000
-252627000
588000
256593000
-18908000
-14354000
-265423000
577000
255476000
-29114000
-38484000
0
4000
-379000
0
-375000
5320000
0
0
0
5320000
0
0
545000
0
545000
0
0
0
452000
452000
-0
-0
-0
135000
135000
-260103000
581000
255642000
-28797000
-32677000
16403000
5717000
10441000
6719000
0
12310000
0
220000
302000
-5222000
-814000
545000
658000
-353000
-8328000
0
1196000
-400000
0
14000
-0
-184000
-101000
14662000
8137000
-602000
-280000
7205000
4016000
-1523000
-709000
6643000
10189000
836000
-939000
18371000
10361000
1738000
2458000
2236000
12000
-0
1121000
142000
173000
430000
-0
-74000
-3740000
14734000
10233000
-0
193000
-154000
-372000
-14888000
-10798000
3409000
-4177000
33733000
8645000
37142000
4468000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">1</em></b></p> </td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b>BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt; text-align: left; font-family: Arial; font-size: 10pt;"><b> </b></p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b/></p><p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Basis of Presentation</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: center; font-family: Arial; font-size: 10pt;"><b> </b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The accompanying unaudited, interim, Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for quarterly reports. In the opinion of management, these financial statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Lee Enterprises, Incorporated and its subsidiaries (the “Company”) as of <em style="font: inherit;"> December 27, 2020 </em>and our results of operations and cash flows for the periods presented. The Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company's <em style="font: inherit;">2020</em> Annual Report on Form <em style="font: inherit;">10</em>-K.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Because of seasonal and other factors, the results of operations for the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>are <em style="font: inherit;">not</em> necessarily indicative of the results to be expected for the full year.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">References to “we”, “our”, “us” and the like throughout the Consolidated Financial Statements refer to the Company. References to “<em style="font: inherit;">2021</em>”, “<em style="font: inherit;">2020</em>” and the like refer to the fiscal years ended the last Sunday in <em style="font: inherit;"> September.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Consolidated Financial Statements include our accounts and those of our subsidiaries, all of which are wholly-owned, except for our 82.5% interest in INN Partners, L.C. (“TownNews.com”), 50% interest in TNI Partners (“TNI”) and 50% interest in Madison Newspapers, Inc. (“MNI”).</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Investments in TNI and MNI are accounted for using the equity method and are reported at cost, plus our share of undistributed earnings since acquisition less, for TNI, amortization of intangible assets.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p><p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"/>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b/></p><p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>COVID-<em style="font: inherit;">19</em> Pandemic</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">With the outbreak of COVID-<em style="font: inherit;">19</em> and the declaration of a pandemic by the World Health Organization on <em style="font: inherit;"> March 11, 2020, </em>governments implemented a combination of shelter-in-place orders and other recommendations severely limiting or restricting economic activity in our local markets. Certain aspects of our operations have experienced lower revenue and profitability over the last several years and these trends are expected to continue in the future; however, the pandemic and government restrictions caused significant and immediate declines in demand for certain of our products and services, particularly in advertising revenue.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The COVID-<em style="font: inherit;">19</em> pandemic has had, and the Company expects that it will continue to have, a significant negative near term impact on the Company’s business and operating results. The long-term impact of the COVID-<em style="font: inherit;">19</em> pandemic will depend on the length, severity and recurrence of the pandemic, the availability of antiviral medications and vaccinations, the duration and extent of government actions designed to combat the pandemic, as well as changes in consumer behavior, all of which are highly uncertain. Despite the significant negative impacts on our operating results, we have operated uninterrupted in providing local news, information and advertising in our print and digital editions.</p><p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"/>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(67, 67, 67);"/><p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(67, 67, 67);"><span style="color: rgb(0, 0, 0); font-family: Arial; font-size: 10pt;"><b>Purchase Agreement with Berkshire Hathaway</b></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">On <em style="font: inherit;"> March 16, 2020, </em>the Company completed the Asset and Stock Purchase Agreement (Purchase Agreement) dated as of <em style="font: inherit;"> January 29, 2020 </em>with Berkshire Hathaway Inc., a Delaware corporation (“Berkshire”) and BH Media Group, Inc., a Delaware corporation (“BHMG”) (the “Purchase Agreement”). As part of the Purchase Agreement, the Company purchased certain assets and assumed certain liabilities of BHMG’s newspapers and related community publications business (“BH Media Newspaper Business”), excluding real estate and fixtures such as production equipment, and all of the issued and outstanding capital stock of The Buffalo News, Inc., a Delaware corporation (“Buffalo News”) for a combined purchase price of $140,000,000 (collectively, the “Transactions”). BHMG includes <em style="font: inherit;">30</em> daily newspapers and digital operations, in addition to <em style="font: inherit;">49</em> paid weekly newspapers with websites and <em style="font: inherit;">32</em> other print products. Buffalo News is a provider of local print and digital news to the Buffalo, NY area. The rationale for the acquisition was primarily the attractive nature of the various publications, businesses, and digital platforms as well as the revenue growth and operating expense synergy opportunities.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Transactions were funded pursuant to a Credit Agreement dated as of <em style="font: inherit;"> January 29, 2020 </em>between the Company and BH Finance LLC, a Delaware limited liability company affiliated with Berkshire (the “Credit Agreement”), as described further in Note <em style="font: inherit;">5.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Between <em style="font: inherit;"> July 2, 2018 </em>and <em style="font: inherit;"> March 16, 2020, </em>the Company managed the BHMG newspaper business pursuant to a Management Agreement between BHMG and the Company dated <em style="font: inherit;"> June 26, 2018 (</em>“the Management Agreement”). In connection with the Transactions, the Management Agreement terminated on <em style="font: inherit;"> March 16, 2020. </em>As part of the settlement of the preexisting relationship, the Company received $5,425,000 at closing. This amount represents $1,245,000 in fixed fees pro-rated under the contract and $4,180,000 in variable fees based upon the pro-rated annual target. The amount we received settled our existing contract assets balance, which totaled $3,589,000 as of <em style="font: inherit;"> December 29, 2019, </em>and the remaining amount was reflected in Other Revenue for the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> March 29, 2020. </em>The amount of variable fees was estimated based on expected BHMG financial performance through <em style="font: inherit;"> March 16, 2020. </em>Actual financial performance through <em style="font: inherit;"> March 16, 2020 </em>did <em style="font: inherit;">not</em> vary materially from the estimated amount. As such, the Company did <em style="font: inherit;">not</em> recognize a gain or loss as a result of the settlement of this preexisting relationship.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">In connection with the Transactions, the Company also entered into a 10-year term lease with BHMG.</p><p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"/>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Use of Estimates</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: center; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The preparation of the Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. We evaluate these estimates and judgments on an ongoing basis.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are <em style="font: inherit;">not</em> readily apparent from other sources. Actual results <em style="font: inherit;"> may </em>differ from these estimates under different assumptions or conditions.</p><p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"/>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b/></p><p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Business Combinations</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Company accounts for acquisitions in accordance with the provisions of Accounting Standards Codification <em style="font: inherit;">805</em> “Business Combinations” (“ASC <em style="font: inherit;">805”</em>), which provides guidance for recognition and measurement of identifiable assets and goodwill acquired, liabilities assumed, and any noncontrolling interest in the acquiree at fair value. In a business combination, the assets acquired, liabilities assumed and non-controlling interest in the acquiree are recorded as of the date of acquisition at their respective fair values with limited exceptions. Any excess of the purchase price (consideration transferred) over the estimated fair values of net assets acquired is recorded as goodwill. Transaction costs are expensed as incurred. The operating results of the acquired business are reflected in the Company’s Consolidated Financial Statements from the date of the acquisition.</p><p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"/>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"><b/></p><p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"><b><span style="background-color:#ffffff;">Recently Issued Accounting Standards - Standards Adopted in <em style="font: inherit;">2021</em></span></b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><span style="background-color:#ffffff;">In <em style="font: inherit;"> June 2016, </em>the FASB issued a new standard to replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a wider array of reasonable and supportable information to inform and develop credit loss estimates. We are required to use a forward-looking expected credit loss model for both accounts receivables and other financial instruments. The new standard was adopted on <em style="font: inherit;"> September 28, 2020 </em>using a modified retrospective approach. This standard did <em style="font: inherit;">not</em> have a material impact on our Consolidated Financial Statements.</span></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b><span style="background-color:#ffffff;">Recently Issued Accounting Standards - Standards <em style="font: inherit;">Not</em> Yet Adopted </span></b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><span style="background-color:#ffffff;">In <em style="font: inherit;"> August 2018, </em>FASB issued a new standard to amend disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The new standard will be adopted beginning <em style="font: inherit;"> September 27, 2021 </em>using a retrospective approach. The Company is still evaluating the impacts to our financial statement disclosures.</span></p><p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"/>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Basis of Presentation</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: center; font-family: Arial; font-size: 10pt;"><b> </b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The accompanying unaudited, interim, Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission for quarterly reports. In the opinion of management, these financial statements contain all adjustments (consisting of only normal recurring items) necessary to present fairly the financial position of Lee Enterprises, Incorporated and its subsidiaries (the “Company”) as of <em style="font: inherit;"> December 27, 2020 </em>and our results of operations and cash flows for the periods presented. The Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in the Company's <em style="font: inherit;">2020</em> Annual Report on Form <em style="font: inherit;">10</em>-K.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Because of seasonal and other factors, the results of operations for the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>are <em style="font: inherit;">not</em> necessarily indicative of the results to be expected for the full year.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">References to “we”, “our”, “us” and the like throughout the Consolidated Financial Statements refer to the Company. References to “<em style="font: inherit;">2021</em>”, “<em style="font: inherit;">2020</em>” and the like refer to the fiscal years ended the last Sunday in <em style="font: inherit;"> September.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Consolidated Financial Statements include our accounts and those of our subsidiaries, all of which are wholly-owned, except for our 82.5% interest in INN Partners, L.C. (“TownNews.com”), 50% interest in TNI Partners (“TNI”) and 50% interest in Madison Newspapers, Inc. (“MNI”).</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Investments in TNI and MNI are accounted for using the equity method and are reported at cost, plus our share of undistributed earnings since acquisition less, for TNI, amortization of intangible assets.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
0.825
0.50
0.50
<p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>COVID-<em style="font: inherit;">19</em> Pandemic</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">With the outbreak of COVID-<em style="font: inherit;">19</em> and the declaration of a pandemic by the World Health Organization on <em style="font: inherit;"> March 11, 2020, </em>governments implemented a combination of shelter-in-place orders and other recommendations severely limiting or restricting economic activity in our local markets. Certain aspects of our operations have experienced lower revenue and profitability over the last several years and these trends are expected to continue in the future; however, the pandemic and government restrictions caused significant and immediate declines in demand for certain of our products and services, particularly in advertising revenue.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The COVID-<em style="font: inherit;">19</em> pandemic has had, and the Company expects that it will continue to have, a significant negative near term impact on the Company’s business and operating results. The long-term impact of the COVID-<em style="font: inherit;">19</em> pandemic will depend on the length, severity and recurrence of the pandemic, the availability of antiviral medications and vaccinations, the duration and extent of government actions designed to combat the pandemic, as well as changes in consumer behavior, all of which are highly uncertain. Despite the significant negative impacts on our operating results, we have operated uninterrupted in providing local news, information and advertising in our print and digital editions.</p>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(67, 67, 67);"><span style="color: rgb(0, 0, 0); font-family: Arial; font-size: 10pt;"><b>Purchase Agreement with Berkshire Hathaway</b></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">On <em style="font: inherit;"> March 16, 2020, </em>the Company completed the Asset and Stock Purchase Agreement (Purchase Agreement) dated as of <em style="font: inherit;"> January 29, 2020 </em>with Berkshire Hathaway Inc., a Delaware corporation (“Berkshire”) and BH Media Group, Inc., a Delaware corporation (“BHMG”) (the “Purchase Agreement”). As part of the Purchase Agreement, the Company purchased certain assets and assumed certain liabilities of BHMG’s newspapers and related community publications business (“BH Media Newspaper Business”), excluding real estate and fixtures such as production equipment, and all of the issued and outstanding capital stock of The Buffalo News, Inc., a Delaware corporation (“Buffalo News”) for a combined purchase price of $140,000,000 (collectively, the “Transactions”). BHMG includes <em style="font: inherit;">30</em> daily newspapers and digital operations, in addition to <em style="font: inherit;">49</em> paid weekly newspapers with websites and <em style="font: inherit;">32</em> other print products. Buffalo News is a provider of local print and digital news to the Buffalo, NY area. The rationale for the acquisition was primarily the attractive nature of the various publications, businesses, and digital platforms as well as the revenue growth and operating expense synergy opportunities.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Transactions were funded pursuant to a Credit Agreement dated as of <em style="font: inherit;"> January 29, 2020 </em>between the Company and BH Finance LLC, a Delaware limited liability company affiliated with Berkshire (the “Credit Agreement”), as described further in Note <em style="font: inherit;">5.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Between <em style="font: inherit;"> July 2, 2018 </em>and <em style="font: inherit;"> March 16, 2020, </em>the Company managed the BHMG newspaper business pursuant to a Management Agreement between BHMG and the Company dated <em style="font: inherit;"> June 26, 2018 (</em>“the Management Agreement”). In connection with the Transactions, the Management Agreement terminated on <em style="font: inherit;"> March 16, 2020. </em>As part of the settlement of the preexisting relationship, the Company received $5,425,000 at closing. This amount represents $1,245,000 in fixed fees pro-rated under the contract and $4,180,000 in variable fees based upon the pro-rated annual target. The amount we received settled our existing contract assets balance, which totaled $3,589,000 as of <em style="font: inherit;"> December 29, 2019, </em>and the remaining amount was reflected in Other Revenue for the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> March 29, 2020. </em>The amount of variable fees was estimated based on expected BHMG financial performance through <em style="font: inherit;"> March 16, 2020. </em>Actual financial performance through <em style="font: inherit;"> March 16, 2020 </em>did <em style="font: inherit;">not</em> vary materially from the estimated amount. As such, the Company did <em style="font: inherit;">not</em> recognize a gain or loss as a result of the settlement of this preexisting relationship.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">In connection with the Transactions, the Company also entered into a 10-year term lease with BHMG.</p>
140000000
5425000
1245000
4180000
-3589000
P10Y
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Use of Estimates</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: center; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The preparation of the Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and related disclosure of contingent assets and liabilities. We evaluate these estimates and judgments on an ongoing basis.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are <em style="font: inherit;">not</em> readily apparent from other sources. Actual results <em style="font: inherit;"> may </em>differ from these estimates under different assumptions or conditions.</p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Business Combinations</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Company accounts for acquisitions in accordance with the provisions of Accounting Standards Codification <em style="font: inherit;">805</em> “Business Combinations” (“ASC <em style="font: inherit;">805”</em>), which provides guidance for recognition and measurement of identifiable assets and goodwill acquired, liabilities assumed, and any noncontrolling interest in the acquiree at fair value. In a business combination, the assets acquired, liabilities assumed and non-controlling interest in the acquiree are recorded as of the date of acquisition at their respective fair values with limited exceptions. Any excess of the purchase price (consideration transferred) over the estimated fair values of net assets acquired is recorded as goodwill. Transaction costs are expensed as incurred. The operating results of the acquired business are reflected in the Company’s Consolidated Financial Statements from the date of the acquisition.</p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"><b><span style="background-color:#ffffff;">Recently Issued Accounting Standards - Standards Adopted in <em style="font: inherit;">2021</em></span></b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><span style="background-color:#ffffff;">In <em style="font: inherit;"> June 2016, </em>the FASB issued a new standard to replace the incurred loss impairment methodology with a methodology that reflects expected credit losses and requires consideration of a wider array of reasonable and supportable information to inform and develop credit loss estimates. We are required to use a forward-looking expected credit loss model for both accounts receivables and other financial instruments. The new standard was adopted on <em style="font: inherit;"> September 28, 2020 </em>using a modified retrospective approach. This standard did <em style="font: inherit;">not</em> have a material impact on our Consolidated Financial Statements.</span></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b><span style="background-color:#ffffff;">Recently Issued Accounting Standards - Standards <em style="font: inherit;">Not</em> Yet Adopted </span></b></p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 7.2pt 0pt 34pt; text-align: justify;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><span style="background-color:#ffffff;">In <em style="font: inherit;"> August 2018, </em>FASB issued a new standard to amend disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The new standard will be adopted beginning <em style="font: inherit;"> September 27, 2021 </em>using a retrospective approach. The Company is still evaluating the impacts to our financial statement disclosures.</span></p>
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: justify; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">2</em></b></p> </td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: justify; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b>REVENUE</b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b> </b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The following table presents our revenue disaggregated by source:</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Advertising and marketing services revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">102,629</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">65,727</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Subscription revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">90,508</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">41,694</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">TownNews and other digital services revenue</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">5,622</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">5,218</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">13,058</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">9,704</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total operating revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">211,817</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">122,343</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><i>Recognition principles:</i> Revenue is recognized when a performance obligation is satisfied by the transfer of control of the contracted goods or services to our customers, in an amount that reflects the consideration we expect to receive in exchange for those goods or services.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><i>Arrangements with multiple performance obligations:</i> We have various advertising and subscription agreements which include both print and digital performance obligations. Revenue from sales agreements that contain multiple performance obligations are allocated to each obligation based on the relative standalone selling price. We determine standalone selling prices based on observable prices charged to customers.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><i>Contract Assets and Liabilities:</i> The Company’s primary source of contract liabilities is unearned revenue from subscriptions paid in advance of the service provided. The Company expects to recognize the revenue related to unsatisfied performance obligations over the next <em style="font: inherit;">twelve</em> months in accordance with the terms of the subscriptions and other contracts with customers. The unearned revenue balances described herein are the Company's only contract liability. Unearned revenue was $60,176,000 as of <em style="font: inherit;"> December 27, 2020 </em>and $60,271,000 as of <em style="font: inherit;"> September 27, 2020</em>. Revenue recognized in the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>that was included in the contract liability as of <em style="font: inherit;"> September 27, 2020</em> was $35,955,000.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Accounts receivable, excluding allowance for credit losses was $79,013,000 and $66,029,000 as of <em style="font: inherit;"> December 27, 2020 </em>and <em style="font: inherit;"> September 27, 2020</em>, respectively. Allowance for credit losses was $10,982,000 and $13,431,000 as of <em style="font: inherit;"> December 27, 2020 </em>and <em style="font: inherit;"> September 27, 2020</em>, respectively.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><i>Practical expedients:</i><b><i> </i></b>Sales commissions are expensed as incurred as the associated contractual periods are <em style="font: inherit;">one</em> year or less. These costs are recorded within compensation. The vast majority of our contracts have original expected lengths of <em style="font: inherit;">one</em> year or less and revenue is earned at a rate and amount that corresponds directly with the value to the customer.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Advertising and marketing services revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">102,629</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">65,727</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Subscription revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">90,508</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">41,694</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">TownNews and other digital services revenue</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">5,622</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">5,218</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">13,058</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">9,704</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total operating revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">211,817</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">122,343</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
102629000
65727000
90508000
41694000
5622000
5218000
13058000
9704000
211817000
122343000
60176000
60271000
35955000
79013000
66029000
10982000
13431000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"><tbody><tr style="vertical-align: top;"><td style="width: 36pt;"> <p style="margin: 0pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b><em style="font: inherit;">3</em> </b></p> </td><td> <p style="margin: 0pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>INVESTMENTS IN ASSOCIATED COMPANIES</b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b> </b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>TNI Partners</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">In Tucson, Arizona, TNI, acting as agent for our subsidiary, Star Publishing Company (“Star Publishing”), and Citizen Publishing Company (“Citizen”), a subsidiary of Gannett Co. Inc., is responsible for printing, delivery, advertising, and subscription activities of the <i>Arizona Daily Star </i>as well as the related digital platforms and specialty publications. TNI collects all receipts and income and pays substantially all operating expenses incident to the partnership's operations and publication of the newspaper and other media.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Income or loss of TNI (before income taxes) is allocated equally to Star Publishing and Citizen.</p>
<p style="margin: 0pt; text-align: left; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;">Summarized results of TNI are as follows:</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Operating revenue</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">9,400</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">10,195</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Operating expenses</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">7,005</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">8,165</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,395</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,030</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Company's <span style="-sec-ix-hidden:c68353689"><span style="-sec-ix-hidden:c68353690">50%</span></span> share of operating income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,198</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,015</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less amortization of intangible assets</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">104</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Equity in earnings of TNI</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,198</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">911</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">TNI makes weekly distributions of its earnings and for the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>and <em style="font: inherit;"> December 29, 2019, </em>we received $1,056,000 and $738,000 in distributions.</p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Madison Newspapers, Inc.</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We have a 50% ownership interest in MNI, which publishes daily and Sunday newspapers, and other publications in Madison, Wisconsin, and other Wisconsin locations, and operates their related digital platforms. Net income or loss of MNI (after income taxes) is allocated equally to us and The Capital Times Company (“TCT”). MNI conducts its business under the trade name Capital Newspapers.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Summarized results of MNI are as follows:</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">11,922</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">13,925</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating expenses, excluding restructuring costs, depreciation and amortization</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">10,430</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">12,120</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Restructuring costs</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">106</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Depreciation and amortization</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">110</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">145</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,276</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,660</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,089</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,316</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Equity in earnings of MNI</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">545</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">658</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">MNI generally makes quarterly distributions of its earnings, however <em style="font: inherit;">no</em> distributions were made in the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>and <em style="font: inherit;"> December 29, 2019, </em>respectively.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Operating revenue</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">9,400</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">10,195</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Operating expenses</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">7,005</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">8,165</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,395</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">2,030</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Company's <span style="-sec-ix-hidden:c68353689"><span style="-sec-ix-hidden:c68353690">50%</span></span> share of operating income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,198</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,015</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less amortization of intangible assets</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">104</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Equity in earnings of TNI</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,198</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">911</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating revenue</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">11,922</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">13,925</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating expenses, excluding restructuring costs, depreciation and amortization</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">10,430</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">12,120</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Restructuring costs</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">106</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Depreciation and amortization</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">110</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">145</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Operating income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,276</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">1,660</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Net income</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,089</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,316</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Equity in earnings of MNI</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">545</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">658</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
9400000
10195000
7005000
8165000
2395000
2030000
1198000
1015000
0
104000
1198000
911000
1056000
738000
0.50
11922000
13925000
10430000
12120000
106000
0
110000
145000
1276000
1660000
1089000
1316000
545000
658000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"><tbody><tr style="vertical-align: top;"><td style="width: 36pt;"> <p style="text-align: justify; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">4</em></b></p> </td><td> <p style="text-align: justify; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b>GOODWILL AND OTHER INTANGIBLE ASSETS</b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Changes in the carrying amount of goodwill are as follows:</p>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="width: 95%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt auto 0pt 36pt;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"><em style="font: inherit;">13 Weeks Ended</em></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"><em style="font: inherit;">December 27,</em></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 87%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> <p style="font-family: Arial; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; background-color: rgb(255, 255, 255);"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> <p style="margin: 0pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Goodwill, gross amount</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">1,617,174</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated impairment losses</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">(1,288,729</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">)</td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">Goodwill, beginning of period</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">328,445</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;">Measurement period adjustments</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;">403</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Goodwill, end of period</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;">328,848</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td></tr>
</tbody></table>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Identified intangible assets consist of the following:</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="border-top: 1px solid black; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="border-top: 1px solid black; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">September 27,</em></p> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Non-amortized intangible assets:</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-indent: 9pt;">Mastheads</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">40,459</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">40,459</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortizable intangible assets:</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-indent: 9pt;">Customer and newspaper subscriber lists</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">774,722</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">774,604</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-indent: 9pt;">Less accumulated amortization</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">638,349</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">632,457</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;">136,373</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;">142,147</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-top: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Non-compete and consulting agreements</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">28,656</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">28,656</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Less accumulated amortization</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">28,601</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">28,582</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">55</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">74</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other intangible assets, net</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">176,887</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">182,680</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td></tr>
</tbody></table>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Company recognized $27,960,000 of advertiser relationships, $28,200,000 of subscriber relationships, $19,580,000 of commercial print relationships and $20,390,000 of indefinite-lived masthead assets as part of the Transactions.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Annual amortization of intangible assets for the <em style="font: inherit;">five</em> years ending <em style="font: inherit;"> December </em><em style="font: inherit;">2021</em> to <em style="font: inherit;"> December </em><em style="font: inherit;">2025</em> is estimated to be $21,262,000 $19,688,000, $18,893,000, $16,460,000 and $10,783,000 , respectively. The weighted average amortization period for those amortizable assets acquired as part of the Transactions is 10.5 years.</p>
<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Company recognized $78,539,000 of Goodwill as part of the Transactions. The value of the acquired Goodwill is primarily related to an assembled workforce and expected synergies from combining operations. For tax purposes, the amount of Goodwill that is expected to be deductible is $41,734,000. Refer to Note <em style="font: inherit;">7</em> for more information regarding preliminary purchase accounting for the Transactions.</p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="width: 95%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt auto 0pt 36pt;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"><em style="font: inherit;">13 Weeks Ended</em></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-top: 1px solid black; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"><em style="font: inherit;">December 27,</em></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0; margin: 0"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 87%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> <p style="font-family: Arial; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; background-color: rgb(255, 255, 255);"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> <p style="margin: 0pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Goodwill, gross amount</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">1,617,174</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Accumulated impairment losses</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">(1,288,729</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">)</td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">Goodwill, beginning of period</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">328,445</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;">Measurement period adjustments</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;">403</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Goodwill, end of period</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;">328,848</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td></tr>
</tbody></table>
1617174000
1288729000
328445000
403000
328848000
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 5%; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="border-top: 1px solid black; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="border-top: 1px solid black; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">September 27,</em></p> </td><td style="border-top: 1px solid black; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Non-amortized intangible assets:</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-indent: 9pt;">Mastheads</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">40,459</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">40,459</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortizable intangible assets:</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-indent: 9pt;">Customer and newspaper subscriber lists</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">774,722</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">774,604</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; text-indent: 9pt;">Less accumulated amortization</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">638,349</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">632,457</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;">136,373</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: 1px solid black;">142,147</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; border-top: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Non-compete and consulting agreements</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">28,656</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">28,656</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Less accumulated amortization</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">28,601</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">28,582</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">55</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">74</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Other intangible assets, net</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">176,887</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">182,680</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td></tr>
</tbody></table>
40459000
40459000
774722000
774604000
638349000
632457000
136373000
142147000
28656000
28656000
28601000
28582000
55000
74000
176887000
182680000
27960000
28200000
19580000
20390000
21262000
19688000
18893000
16460000
10783000
P10Y6M
78539000
41734000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"><b><em style="font: inherit;">5</em></b></td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b>DEBT</b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">On <em style="font: inherit;"> March 16, 2020 </em>in connection with the closing of the Transactions, the Company completed a comprehensive refinancing of its debt (the <em style="font: inherit;">“2020</em> Refinancing”). The <em style="font: inherit;">2020</em> Refinancing consists of a 25-year term loan with BH Finance LLC (“BH Finance”), an affiliate of Berkshire, in an aggregate principal amount of $576,000,000 at a 9% annual rate (referred to herein as “Credit Agreement” and “Term Loan”). The proceeds of the Term Loan were used, along with cash on hand, to repay the Company's $431,502,000 in existing debt as well as to fund the acquisition of the BH Media Newspaper Business assets and the stock of the Buffalo News for $140,000,000 in cash. With the closing of this matter, BH Finance became Lee's sole lender.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Proceeds of the Term Loan were used to finance the Transactions and repay all of the Company’s outstanding debt at par, including:</p>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<table cellpadding="0" cellspacing="0" style="width: 95%; font-family: Arial; font-size: 10pt; margin-left: 36pt; margin-right: auto;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;"> <p style="font-family: Arial; margin-right: 14.7pt; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; font-size: 10pt;">•</p> </td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; width: 96%;"> <p style="font-family: Arial; margin-right: 14.7pt; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; font-size: 10pt;">To redeem the 9.5% senior secured notes (“Notes”) pursuant to an indenture dated as of <em style="font: inherit;"> March 31, 2014 (</em>the “Indenture”); and</p> </td></tr>
<tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;"> </td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; width: 96%;"> </td></tr>
<tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;">•</td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; width: 96%;">To repay the 12.0% <em style="font: inherit;">second</em> lien term loan pursuant to a Second Lien Term Loan Agreement dated as of <em style="font: inherit;"> March 31, 2014, </em>as amended (the <em style="font: inherit;">“2</em><sup style="vertical-align:top;line-height:120%;font-size:pt">nd</sup> Lien Term Loan”).</td></tr>
</tbody></table>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">There was no gain or loss recognized upon extinguishment of the Indenture and the <em style="font: inherit;">2nd</em> Lien Term Loan.</p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">The Credit Agreement documents the primary terms of the Term Loan. The Term Loan matures on <em style="font: inherit;"> March 16, 2045.</em></p>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;">Debt is summarized as follows:</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin: 0pt auto 0pt 36pt; width: 95%; font-size: 10pt; font-family: Arial; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"><em style="font: inherit;">December 27,</em></td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"><em style="font: inherit;">September 27,</em></td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"><em style="font: inherit;">Interest</em></td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 52%;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">Rates (%)</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">Term Loan</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">523,556</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">538,290</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">9.0</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less current maturities of long-term debt</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">17,142</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">13,733</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total long-term debt</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;">506,414</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;">524,557</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Our weighted average cost of debt at <em style="font: inherit;"> December 27, 2020 </em>is 9.0%.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">For the <em style="font: inherit;">13</em>-weeks ended <em style="font: inherit;"> December 27, 2020 </em>excess cash flow totaled $17,142,000 and an additional $1,000,000 from asset sales was used to pay debt in <em style="font: inherit;"> January 2021. </em>This balance was recognized in Current maturities of long-term debt as of <em style="font: inherit;"> December 27, 2020. </em>Future payments are contingent on the Company’s ability to generate future excess cash flow, as defined in the Credit Agreement. </p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt; text-align: center; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Interest</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Interest on the Term Loan bears interest at a fixed annual rate of 9.0%, payable monthly.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"><b>Principal Payments</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Voluntary payments under the Credit Agreement are <em style="font: inherit;">not</em> subject to call premiums and are payable at par.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Excluding the Excess Cash Flow payments described below, there are <em style="font: inherit;">no</em> scheduled mandatory principal payments required under the Credit Agreement. The Company is required to make mandatory pre-payments of the Term Loan as follows:</p>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<table cellpadding="0" cellspacing="0" style="width: 95%; font-family: Arial; font-size: 10pt; margin-left: 36pt; margin-right: auto;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;"> <p style="font-family: Arial; margin-right: 14.7pt; margin-top: 0pt; text-align: justify; margin-bottom: 0pt; font-size: 10pt;">•</p> </td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; width: 96%;"> <p style="font-family: Arial; margin-right: 14.7pt; margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: justify;">The Company must prepay the Term Loan in an aggregate amount equal to 100% of any Net Cash Proceeds received by the Company or any subsidiary from a sale, transfer, license, lease or other disposition of any property of the Company or any subsidiary in excess of <em style="font: inherit;">$500,000</em> in any <em style="font: inherit;">ninety</em> (<em style="font: inherit;">90</em>) day period.</p> </td></tr>
<tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;"> </td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; text-align: justify; width: 96%;"> </td></tr>
<tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;">•</td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; text-align: justify; width: 96%;">Beginning on <em style="font: inherit;"> June 28, 2020, </em>the Company is required to prepay the Term Loan with excess cash flow, defined as cash on the balance sheet in excess of <em style="font: inherit;">$20,000,000</em> (“Excess Cash Flow”). Excess Cash Flow is used to prepay the Term Loan, at par, and is due within 50-days of quarter end. </td></tr>
<tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;"> </td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; text-align: justify; width: 96%;"> </td></tr>
<tr style="font-family: Arial; font-size: 10pt;"><td style="width: 2%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 2%; vertical-align: top; font-family: Arial; font-size: 10pt;">•</td><td style="vertical-align: top; font-family: Arial; font-size: 10pt; text-align: justify; width: 96%;">If there is a Change of Control (as defined in the Credit Agreement), BH Finance has the option to require the Company to prepay the Term Loan in cash equal to 105% of the unpaid principal balance, plus accrued and unpaid interest.</td></tr>
</tbody></table>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">The Company <em style="font: inherit;"> may, </em>upon notice to BH Finance, at any time or from time to time, voluntarily prepay the Term Loan in whole or in part, at par, provided that any voluntary prepayment of the Term Loan shall be accompanied by payment of all accrued interest on the amount of principal prepaid to the date of prepayment<b>. </b></p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"><b>Covenants and Other Matters</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Credit Agreement contains certain customary representations and warranties, certain affirmative and negative covenants and certain conditions, including restrictions on incurring additional indebtedness, creating certain liens, making certain investments or acquisitions, issuing dividends, repurchasing shares of stock of the Company and certain other capital transactions. Certain existing and future direct and indirect material domestic subsidiaries of the Company are guarantors of the Company’s obligations under the Credit Agreement.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Credit Agreement restricts us from paying dividends on our Common Stock. This restriction does <em style="font: inherit;">not</em> apply to dividends issued with the Company’s Equity Interests or from the proceeds of a sale of the Company’s Equity Interests. Further, the Credit Agreement restricts or limits, among other things, subject to certain exceptions, the ability of the Company and its subsidiaries to: (i) incur additional indebtedness, (ii) make certain investments, (iii) enter into mergers, acquisitions and asset sales, (iv) incur or create liens and (v) enter into transactions with certain affiliates. The Credit Agreement contains various representations and warranties by the Company and <em style="font: inherit;"> may </em>be terminated upon the occurrence of certain events of default, including non-payment. The Credit Agreement also contains cross-default provisions tied to other agreements with BH Finance entered into by the Company and its subsidiaries in connection with the <em style="font: inherit;">2020</em> Refinancing.</p>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"><b>Security</b></p>
<p style="margin: 0pt; text-align: center; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0); text-align: justify;">The Term Loan is fully and unconditionally guaranteed on a joint and several <em style="font: inherit;">first</em>-priority basis by the Company's material domestic subsidiaries (excluding MNI and TNI, the “Subsidiary Guarantors”), pursuant to a Guarantee and Collateral agreement dated as of <em style="font: inherit;"> March 16, 2020 (</em>the “Guarantee and Collateral Agreement”). The Term Loan and the subsidiary guarantees are secured, subject to certain exceptions, priorities and limitations, by perfected security interests in substantially all property and assets, including certain real estate, of the Company and the Subsidiary Guarantors.</p>
<p style="margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt; text-align: left; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0); text-align: justify;">Also, the Term Loan is secured, subject to certain exceptions, priorities and limitations in the various agreements, by <em style="font: inherit;">first</em>-priority security interests in the capital stock of, and other equity interests owned by, the Company and the Subsidiary Guarantors (excluding the capital stock of MNI and TNI).</p>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Liquidity</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Pursuant to the terms of the Credit Agreement, our new debt does <em style="font: inherit;">not</em> include a revolver.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Our liquidity, consisting of cash on the balance sheet, totals $37,142,000 at <em style="font: inherit;"> December 27, 2020. </em>This liquidity amount excludes any future cash flows. We expect all interest and principal payments due in the next <em style="font: inherit;">twelve</em> months will be satisfied by existing cash and our cash flows, which will allow us to maintain an adequate level of liquidity. The Warrants, as defined below, if and when exercised, would provide additional liquidity in an amount up to $25,140,000, which is <em style="font: inherit;">not</em> considered in the calculation of Excess Cash Flow.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">There are numerous potential consequences under the Term Loan if an event of default, as defined, occurs and is <em style="font: inherit;">not</em> remedied. Many of those consequences are beyond our control. The occurrence of <em style="font: inherit;">one</em> or more events of default would give rise to the right of BH Finance to exercise their remedies under the Credit Agreement including, without limitation, the right to accelerate all outstanding debt and take actions authorized in such circumstances under applicable collateral security documents.</p>
<p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: left;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Our ability to operate as a going concern is dependent on our ability to remain in compliance with debt covenants and to repay, refinance or amend our debt agreement as it becomes due. The Credit Agreement (as defined above) has only limited affirmative covenants with which we are required to maintain compliance and there are <em style="font: inherit;">no</em> leverage or financial performance covenants. We are in compliance with our debt covenants at <em style="font: inherit;"> December 27, 2020.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt; text-align: justify; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"><b>Warrants</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">In connection with the <em style="font: inherit;">2</em><sup style="vertical-align:top;line-height:120%;font-size:pt">nd</sup> Lien Term Loan, we entered into a Warrant Agreement dated as of <em style="font: inherit;"> March 31, 2014 (</em>the “Warrant Agreement”). Under the Warrant Agreement, certain affiliates or designees of the <em style="font: inherit;">2</em><sup style="vertical-align:top;line-height:120%;font-size:pt">nd</sup> Lien Lenders received on <em style="font: inherit;"> March 31, 2014 </em>their pro rata share of warrants to purchase, in cash, an initial aggregate of 6,000,000 shares of Common Stock, subject to adjustment pursuant to anti-dilution provisions (the “Warrants”). The Warrants represent, when fully exercised, approximately 10.4% of shares of Common Stock outstanding at <em style="font: inherit;"> March 30, 2014 </em>on a fully diluted basis. The exercise price of the Warrants is $4.19 per share. The Warrants are set to expire in <em style="font: inherit;"> March 2022.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The Warrant Agreement contains provisions requiring the Warrants to be measured at fair value and included in warrants and other liabilities in our Consolidated Balance Sheets. We re-measure the fair value of the liability each reporting period, with changes reported in other, net non-operating income (expense). The initial fair value of the Warrants was $16,930,000. See Note <em style="font: inherit;">11.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">In connection with the issuance of the Warrants, we entered into a Registration Rights Agreement dated as of <em style="font: inherit;"> March </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2014</em> (the “Registration Rights Agreement”). The Registration Rights Agreement requires, among other matters, that we use our commercially reasonable efforts to maintain the effectiveness for certain specified periods of a shelf registration statement related to the shares of Common Stock to be issued upon exercise of the Warrants.</p>
P25Y
576000000
0.09
431502000
140000000
0.095
0.120
0
<table cellpadding="0" cellspacing="0" class="finTable" style="margin: 0pt auto 0pt 36pt; width: 95%; font-size: 10pt; font-family: Arial; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"><em style="font: inherit;">December 27,</em></td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"><em style="font: inherit;">September 27,</em></td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"><em style="font: inherit;">Interest</em></td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; border-top: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 52%;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">Rates (%)</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">Term Loan</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">523,556</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">538,290</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;">9.0</td><td style="width: 1%; font-family: Arial; font-size: 10pt; padding: 0px; margin: 0px; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Less current maturities of long-term debt</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">17,142</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">13,733</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total long-term debt</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;">506,414</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;">524,557</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); vertical-align: top;"> </td></tr>
</tbody></table>
523556000
538290000
0.090
17142000
13733000
506414000
524557000
0.090
17142000
1000000
0.090
1
P50D
1.05
37142000
25140000
6000000
0.104
4.19
16930000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">6</em></b></p> </td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><span style="background-color:#ffffff;">PENSION, POSTRETIREMENT AND POSTEMPLOYMENT DEFINED BENEFIT PLANS</span></b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We have several noncontributory defined benefit pension plans that together cover selected employees. Benefits under the plans were generally based on salary and years of service. With the exception of defined benefit plans acquired in the Transactions, effective in <em style="font: inherit;">2012,</em> substantially all benefits are frozen. Our liability and related expense for benefits under the plans are recorded over the service period of employees based upon annual actuarial calculations. Plan funding strategies are influenced by government regulations. Plan assets consist primarily of domestic and foreign corporate equity securities, government and corporate bonds, hedge fund investments and cash.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We provide retiree medical and life insurance benefits under postretirement plans at several of our operating locations. The level and adjustment of participant contributions vary depending on the specific plan. In addition, St. Louis Post-Dispatch LLC, provides postemployment disability benefits to certain employee groups prior to retirement. Our liability and related expense for benefits under the postretirement plans are recorded over the service period of active employees based upon annual actuarial calculations. We accrue postemployment disability benefits when it becomes probable that such benefits will be paid and when sufficient information exists to make reasonable estimates of the amounts to be paid.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">As part of the Transactions, the Company assumed several non-contributory defined benefit pension plans that together cover selected employees. Benefits under the plans are generally based on salary and years of service. The liability and related expense for benefits under the plans are recorded over the service period of employees based upon annual actuarial calculations. Plan funding strategies are influenced by government regulations. Plan assets consist primarily of domestic corporate equity securities, government and corporate bonds, money markets and deposits with insurance companies. The amount of net pension obligations for those plans as of <em style="font: inherit;"> March 16, 2020, </em>the initial measurement date, was $43,503,000.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Additionally, as part of the Transactions, the Company assumed certain unfunded postemployment benefit plans which provide coverage to retirees for portions of premiums associated with medical, dental, life, and vision insurance benefits in eight collective bargaining units. The amount of premiums paid in five bargaining units are capped at specific dollar amounts per month. The amount of premiums paid in <em style="font: inherit;">three</em> bargaining units are uncapped. The plan groups consist of capped retirees, uncapped retirees, capped active employees, and uncapped active employees. New participants in the uncapped plans are eligible for Medicare supplemental medical insurance. The total postemployment benefit obligation recognized for these plans as of <em style="font: inherit;"> March 16, 2020, </em>the initial measurement date, was $36,800,000.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">During the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>we notified certain participants in our post employment benefit plans of changes to be made to the plans, including elimination of coverage for certain participants. The changes resulted in a non-cash curtailment gain of $23,830,000 and a reduction in our benefit obligation liability by $23,830,000. This is recorded within Curtailment gain and Postretirement and postemployment benefit obligations.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Multiemployer Pension Plans</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">During the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020, </em>we withdrew from a multiemployer pension plan and recorded a $12,310,000 million liability reflecting an estimate of the withdrawal from the fund. The withdrawal liability is recorded in Warrants and other and the expense is included within Pension withdrawal cost. The estimate will be finalized upon receipt of the final assessment. The liability will be paid over 20 years.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We use a fiscal year end measurement date for all of our Pension and postretirement medical plan obligations.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The net periodic pension and postretirement cost (benefit) components for our plans are as follows:</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">PENSION PLANS</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Service cost for benefits earned during the period</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">633</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">8</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Interest cost on projected benefit obligation</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,787</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,231</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected return on plan assets</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(4,672</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(1,951</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of net loss</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,004</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">792</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of prior service benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(2</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Pension benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(1,248</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">78</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td></tr>
</tbody></table>
<p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">POSTRETIREMENT MEDICAL PLANS</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Service cost for benefits earned during the period</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">210</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Interest cost on projected benefit obligation</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">123</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">67</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected return on plan assets</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(252</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(265</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of net gain</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(172</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(186</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of prior service benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(161</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(161</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Curtailment gain</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">(23,830</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Postretirement medical benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(24,082</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(545</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">In the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em><span style="background-color:#ffffff;">we contributed $400,000 to our pension plans. </span><span style="font-family: Arial, Times, serif; font-size: 10pt;">Based </span>on our forecast at <em style="font: inherit;"> December 27, 2020, </em>we expect to make contributions of $2,790,000 to our pension trust during the remainder of fiscal <em style="font: inherit;">2021.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
43503000
8
5
36800000
23830000
23830000
12310000
P20Y
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">PENSION PLANS</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Service cost for benefits earned during the period</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">633</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">8</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Interest cost on projected benefit obligation</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,787</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,231</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected return on plan assets</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(4,672</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(1,951</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of net loss</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">1,004</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">792</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of prior service benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">(2</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Pension benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(1,248</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">78</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td></tr>
</tbody></table>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 68%; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">POSTRETIREMENT MEDICAL PLANS</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Service cost for benefits earned during the period</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">210</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Interest cost on projected benefit obligation</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">123</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">67</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Expected return on plan assets</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(252</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(265</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of net gain</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(172</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(186</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Amortization of prior service benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(161</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">(161</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Curtailment gain</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">(23,830</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Postretirement medical benefit</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(24,082</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">(545</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">)</td></tr>
</tbody></table>
633000
8000
1787000
1231000
4672000
1951000
-1004000
-792000
0
-2000
-1248000
78000
210000
0
123000
67000
252000
265000
172000
186000
-161000
-161000
23830000
-0
-24082000
-545000
400000
2790000
<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial; width: 100%; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 3%; font-family: Arial; font-size: 10pt;"><b><em style="font: inherit;">7</em></b></td><td style="width: 97%; font-family: Arial; font-size: 10pt;"><b><span style="background-color:#ffffff;">ACQUISITIONS</span></b></td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">On <em style="font: inherit;"> March 16, 2020, </em>the Company completed the Asset and Stock Purchase Agreement dated as of <em style="font: inherit;"> January 29, 2020 </em>with Berkshire Hathaway Inc., a Delaware corporation (“Berkshire”) and BH Media Group, Inc., a Delaware corporation (“BHMG”) (“Purchase Agreement”). </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><br/> The allocation of the purchase price is preliminary. The valuation of property and equipment, intangibles, deferred income taxes, and residual goodwill is <em style="font: inherit;">not</em> complete, pending completion of the final valuation report. These amounts are subject to adjustment as additional information is obtained within the measurement period (<em style="font: inherit;">not</em> to exceed <em style="font: inherit;">12</em> months from the acquisition date). As part of the Transactions, the Company also entered into the Credit Agreement and the BH Lease, as described above. The Company concluded that these agreements were <em style="font: inherit;">not</em> separate from the Transactions and evaluated these agreements for off-market terms and <em style="font: inherit;">no</em> such terms were identified. As such, the consideration for the acquisitions was limited to cash consideration, as shown below. The accounting for the Credit Agreement and the BH Lease are described in Notes <em style="font: inherit;">5</em> and <em style="font: inherit;">6.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">The following table summarizes the preliminary determination of fair values of the assets and liabilities for the Transactions.</p>
<p style="text-indent: -9pt; font-family: Arial, Times, serif; font-size: 10pt; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 95%; margin-left: 36pt; margin-right: auto;"><tbody><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 31%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;">(in Thousands)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 20%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Estimated fair value as previously reported</b></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 20%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Measurement period adjustments</b></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 20%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Fair value as adjusted</b></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Cash and Cash equivalents</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Current assets</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">52,559</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(1,199</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">51,361</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Other assets </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">12,167</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">3,448</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">15,619</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Property and equipment</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">42,952</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">33</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">42,985</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Operating lease assets</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">7,445</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">101</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">7,546</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Advertiser relationships</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">38,780</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(10,820</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">27,960</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Subscriber relationships</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">36,060</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(7,860</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">28,200</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Commercial print relationships</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">17,130</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">2,450</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">19,580</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Mastheads</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">21,680</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(1,290</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">20,390</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Goodwill</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">63,559</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">14,984</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">78,539</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-top: 1px solid black; border-bottom: 1px solid black;">Total assets</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">314,625</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;"><span style="-sec-ix-hidden:c68353961">(152)</span></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">314,473</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Current liabilities assumed</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(73,451</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">1,074</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(72,377</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Operating lease liabilities</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(6,625</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(921</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(7,546</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Other liabilities assumed</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(2,246</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><span style="-sec-ix-hidden:c68353970">(1)</span></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(2,247</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Pension obligations</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(43,503</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(43,503</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Postemployment benefit obligations</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(36,800</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(36,800</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-top: 1px solid black; border-bottom: 1px solid black;">Total liabilities</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">(162,625</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">152</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">(162,474</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-bottom: 1px solid black;">Net assets </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">152,000</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">152,000</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-bottom: 1px solid black;">Less: acquired cash</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">(22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">(22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-bottom: 3px double black;">Total consideration less acquired cash</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 3px double black; text-align: right;">129,707</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 3px double black; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 3px double black; text-align: right;">129,707</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td></tr>
</tbody></table>
<p style="text-align: justify; margin-left: 48px; font-family: Arial; font-size: 10pt;">The Company had <em style="font: inherit;">one</em> material measurement period adjustment since <em style="font: inherit;"> September 27, 2020, </em>the last reported preliminary determination of fair values of the assets and liabilities. The significant adjustment included $403,000 net increase to Goodwill through adjustments to liabilities assumed as more information was obtained.</p>
<p style="text-align: justify; margin-left: 48px; font-family: Arial; font-size: 10pt;">For the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020, </em>the revenue and net income included in the Consolidated Income Statement related to the acquirees was $109,061,000 and $23,132,000, respectively.</p>
<p style="text-align: justify; margin-left: 48px; font-family: Arial; font-size: 10pt;"><b>Pro Forma Information</b></p>
<p style="text-align: justify; margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt; text-indent: 0pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">The following table sets forth unaudited pro forma results of operations assuming the Transactions, along with the credit arrangements necessary to finance the Transactions, occurred on <em style="font: inherit;"> September 30, 2019, </em>the <em style="font: inherit;">first</em> day of fiscal year <em style="font: inherit;">2020.</em></p>
<p style="text-indent: 0pt; text-align: justify; margin: 0pt 0pt 0pt 36pt; font-family: Arial; font-size: 10pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: center; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">Unaudited</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">13 Weeks Ended</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars, Except Per Share Data)</i></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total revenues</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;">237,618</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Income (loss) attributable to Lee Enterprises, Incorporated</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;">16,554</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Earnings per share - diluted</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">0.29</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">This pro forma financial information is based on historical results of operations, adjusted for the allocation of the purchase price and other acquisition accounting adjustments. This pro forma information is <em style="font: inherit;">not</em> necessarily indicative of what our results would have been had we operated the businesses since the beginning of the periods presented. The pro forma adjustments reflect the income statement effects of depreciation expense and amortization of intangibles related to the fair value adjustments of the assets acquired, acquisition-related costs, incremental interest expense related to the financing of the Transactions and <em style="font: inherit;">2020</em> Refinancing, the BH Lease entered into as part of the Transactions, the elimination of certain intercompany activity and the related tax effects of the adjustments.</p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);">The only material, nonrecurring adjustment made relates to the write-off of previously unamortized debt-issuance costs as of <em style="font: inherit;"> October 1, 2018 </em>which resulted in a $897,000 increase to net income for the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 29, 2019.</em></p>
<p style="text-indent: 0pt; margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt; background-color: rgba(0, 0, 0, 0); color: rgb(0, 0, 0);"> </p>
<table cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica, sans-serif; width: 95%; margin-left: 36pt; margin-right: auto;"><tbody><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 31%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;">(in Thousands)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 20%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Estimated fair value as previously reported</b></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 20%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Measurement period adjustments</b></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="width: 20%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"><b>Fair value as adjusted</b></td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black; border-bottom: 1px solid black;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Cash and Cash equivalents</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Current assets</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">52,559</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(1,199</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">51,361</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Other assets </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">12,167</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">3,448</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">15,619</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Property and equipment</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">42,952</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">33</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">42,985</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Operating lease assets</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">7,445</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">101</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">7,546</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Advertiser relationships</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">38,780</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(10,820</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">27,960</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Subscriber relationships</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">36,060</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(7,860</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">28,200</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Commercial print relationships</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">17,130</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">2,450</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">19,580</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Mastheads</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">21,680</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(1,290</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">20,390</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Goodwill</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">63,559</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">14,984</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">78,539</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-top: 1px solid black; border-bottom: 1px solid black;">Total assets</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">314,625</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;"><span style="-sec-ix-hidden:c68353961">(152)</span></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">314,473</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Current liabilities assumed</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(73,451</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">1,074</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(72,377</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Operating lease liabilities</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(6,625</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(921</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(7,546</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Other liabilities assumed</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(2,246</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><span style="-sec-ix-hidden:c68353970">(1)</span></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(2,247</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Pension obligations</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(43,503</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(43,503</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; text-indent: 9pt;">Postemployment benefit obligations</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(36,800</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; text-align: right;">(36,800</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-top: 1px solid black; border-bottom: 1px solid black;">Total liabilities</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">(162,625</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">152</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-top: 1px solid black; border-bottom: 1px solid black; text-align: right;">(162,474</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-top: 1px solid black; border-bottom: 1px solid black;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-bottom: 1px solid black;">Net assets </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">152,000</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">152,000</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(204, 238, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-bottom: 1px solid black;">Less: acquired cash</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">(22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;">)</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 1px solid black; text-align: right;">(22,293</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 1px solid black;">)</td></tr>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 31%; border-bottom: 3px double black;">Total consideration less acquired cash</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 3px double black; text-align: right;">129,707</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 3px double black; text-align: right;"><em style="font: inherit;">—</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 20%; border-bottom: 3px double black; text-align: right;">129,707</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; width: 1%; border-bottom: 3px double black;"> </td></tr>
</tbody></table>
22293000
22293000
52559000
-1199000
51361000
12167000
3448000
15619000
42952000
33000
42985000
7445000
101000
7546000
38780000
-10820000
27960000
36060000
-7860000
28200000
17130000
2450000
19580000
21680000
-1290000
20390000
63559000
14984000
78539000
314625000
314473000
73451000
-1074000
72377000
6625000
921000
7546000
2246000
2247000
43503000
43503000
36800000
36800000
162625000
-152000
162474000
152000000
152000000
22293000
22293000
129707000
129707000
403000
109061000
23132000
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: center; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">Unaudited</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); border-top: thin solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="6" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">13 Weeks Ended</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); width: 68%;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><i>(Thousands of Dollars, Except Per Share Data)</i></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Total revenues</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;">237,618</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Income (loss) attributable to Lee Enterprises, Incorporated</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt;">16,554</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Earnings per share - diluted</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">0.29</td><td style="width: 1%; font-family: Arial; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
</tbody></table>
237618000
16554000
0.29
897000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">8</em></b></p> </td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="font-family: Arial; font-size: 10pt;"><b>INCOME TAXES</b></span></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; text-indent: -36pt; font-family: Arial; font-size: 10pt;"><span style="font-family: Arial; font-size: 10pt;"><b> </b></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="font-family:Arial;font-size:10pt;">We recorded an income tax expense </span><span style="font-family: Arial; font-size: 10pt;">of $6,311,000 related to income</span><span style="font-family: Arial; font-size: 10pt;"> before taxes of $22,714,000</span><span style="font-family: Arial; font-size: 10pt;"> for <em style="font: inherit;">the13</em> weeks ended <em style="font: inherit;"> December 27, 2020, </em>resulting in an effective tax rate of 27.8%.</span><span style="font-family: Arial; font-size: 10pt;"> For the <em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 29, 2019, </em>we recorded an income tax expense of $1,871,000 related to income before taxes of $7,588,000</span> resulting in an effective tax rate of 24.7%.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="font-family: Arial; font-size: 10pt;">The primary differences between these rates and the U.S. federal statutory rate of <em style="font: inherit;">21%</em> are due to the effect of state taxes, non-deductible expenses including interest, and adjustments to reserves for uncertain tax positions, including any related interest.</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="font-family: Arial; font-size: 10pt;"> </span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="font-family: Arial; font-size: 10pt;">We file a consolidated federal tax return, as well as combined and separate tax returns in approximately <em style="font: inherit;">27</em> state and local jurisdictions. We do <em style="font: inherit;">not</em> currently have any federal or material state income tax examinations in progress. Our income tax returns have generally been audited or closed to audit through <em style="font: inherit;">2013.</em></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; font-family: Arial; font-size: 10pt;"><span style="font-family: Arial; font-size: 10pt;">At </span><em style="font: inherit;"> September 27, 2020</em><span style="font-family: Arial; font-size: 10pt;">, we had approximately $46,066,000 of state net operating loss benefits.</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; text-indent: 0pt; font-family: Arial; font-size: 10pt;"> </p>
6311000
22714000
0.278
1871000
7588000
0.247
46066000
<table cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="vertical-align: top; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 36pt; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="color: #000000; "><b><em style="font: inherit;">9</em></b></span></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> <p style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="color:#000000;"><b>EARNINGS PER COMMON SHARE</b></span></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">The following table sets forth the computation of basic and diluted earnings per common share:</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="4" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 70%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>(Thousands of Dollars and Shares, Except Per Share Data)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Income attributable to Lee Enterprises, Incorporated:</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">15,902</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">5,320</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Weighted average common shares</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">58,449</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">57,729</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Less weighted average restricted Common Stock</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">(1,545</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">(1,459</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Basic average common shares</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">56,904</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">56,270</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Dilutive stock options and restricted Common Stock</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">418</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">783</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Diluted average common shares</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">57,322</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">57,053</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Earnings per common share:</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">Basic</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.28</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.09</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">Diluted</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">0.28</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">0.09</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">For the </span><em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020 </em>and <em style="font: inherit;"> December 29, 2019</em><span style="color:#000000;">, 6,413,000</span><span style="color:#000000;"> and 6,384,000 shares, respectively, were <em style="font: inherit;">not</em> considered in the computation of diluted earnings per common share because the exercise prices of the related stock options and Warrants were in excess of the fair market value of our Common Stock.</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="margin-right: auto; margin-left: 36pt; width: 95%; font-size: 10pt; font-family: Arial, Helvetica, sans-serif; text-indent: 0px;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td><td colspan="4" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;"><em style="font: inherit;">13 Weeks Ended</em></em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 27,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">December 29,</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); width: 70%;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;"><i>(Thousands of Dollars and Shares, Except Per Share Data)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2020</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: right;"><em style="font: inherit;">2019</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Income attributable to Lee Enterprises, Incorporated:</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">15,902</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">5,320</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">Weighted average common shares</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">58,449</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt">57,729</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Less weighted average restricted Common Stock</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">(1,545</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">)</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">(1,459</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">)</td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Basic average common shares</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">56,904</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">56,270</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Dilutive stock options and restricted Common Stock</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">418</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">783</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Diluted average common shares</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">57,322</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">57,053</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double rgb(0, 0, 0); margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt; text-align: left;">Earnings per common share:</p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">Basic</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.28</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;">0.09</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt 0pt 0pt 9pt; text-align: left;">Diluted</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">0.28</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td><td style="width: 13%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);">0.09</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td></tr>
</tbody></table>
15902000
5320000
58449000
57729000
1545000
1459000
56904000
56270000
418000
783000
57322000
57053000
0.28
0.09
0.28
0.09
6413000
6384000
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: justify; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="color:#000000;"><b><em style="font: inherit;">10</em></b></span></p> </td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: justify; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="color:#000000;"><b>STOCK OWNERSHIP PLANS</b></span></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;"><b> </b></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">A summary of stock option activity during the </span><em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, </em><em style="font: inherit;">2020</em><span style="color:#000000;"> follows:</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="width: 95%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt auto 0pt 36pt;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 48%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> <p style="font-family: Arial; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; background-color: rgb(255, 255, 255);"><i>(Thousands of Dollars and Shares, Except Per Share Data)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-top: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> <p style="margin: 0pt; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><em style="font: inherit;">Shares</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"><em style="font: inherit;">Weighted Average Exercise Price</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"><em style="font: inherit;">Weighted Average Remaining Contractual Term (Years)</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"><em style="font: inherit;">Aggregate Intrinsic Value</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding, September 27, 2020</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">413</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">1.14</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Cancelled</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 48%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Outstanding, December 27, 2020</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">413</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">1.14</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">1.4</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">50</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="width: 48%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">Exercisable, December 27, 2020</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">413</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">1.14</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">1.4</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">50</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td></tr>
</tbody></table>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"><span style="color:#000000;"><b>Restricted Common Stock</b></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"><span style="color:#000000;"><b> </b></span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">The table below summarizes restricted Common Stock activity during the </span><em style="font: inherit;">13</em> weeks ended <em style="font: inherit;"> December 27, 2020</em><span style="color:#000000;">:</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 95%; text-indent: 0px; font-family: Arial; font-size: 10pt; margin-right: 5%; margin-left: 36pt;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 74%; font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> <p style="font-family: Arial; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; background-color: rgb(255, 255, 255);"><i>(Thousands of Shares, Except Per Share Data)</i></p> </td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> <p style="margin: 0pt; text-align: right; font-family: Arial; font-size: 10pt; background-color: rgb(255, 255, 255);"><em style="font: inherit;">Shares</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"><em style="font: inherit;">Weighted Average Grant Date Fair Value</em></td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding, September 27, 2020</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;">1,550</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;">2.15</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top">Vested</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">(447</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top">)</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">2.77</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top">Granted</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">458</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">1.12</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top">Cancelled</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">—</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">—</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;">Outstanding, December 27, 2020</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;">1,561</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;">1.67</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td></tr>
</tbody></table>
<p style="margin: 0pt; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">Total unrecognized compensation expense for unvested restricted Common Stock at </span><em style="font: inherit;"> December 27, 2020</em><span style="color:#000000;"> is $</span>1,534,000<span style="color:#000000;">, which will be recognized over a weighted average period of </span>1.9<span style="color:#000000;"> years.</span></p>
<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
<table cellpadding="0" cellspacing="0" class="finTable" style="width: 95%; text-indent: 0px; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin: 0pt auto 0pt 36pt;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 48%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> <p style="font-family: Arial; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; background-color: rgb(255, 255, 255);"><i>(Thousands of Dollars and Shares, Except Per Share Data)</i></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255); border-top: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> <p style="margin: 0pt; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; background-color: rgb(255, 255, 255);"><em style="font: inherit;">Shares</em></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"><em style="font: inherit;">Weighted Average Exercise Price</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"><em style="font: inherit;">Weighted Average Remaining Contractual Term (Years)</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"><em style="font: inherit;">Aggregate Intrinsic Value</em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: thin solid rgb(0, 0, 0); border-bottom: 1px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-top: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding, September 27, 2020</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">413</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">1.14</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Exercised</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> <p style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Cancelled</p> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;">—</td><td style="width: 1%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td><td style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"><em style="font: inherit;"> </em></td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0); vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 48%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">Outstanding, December 27, 2020</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">413</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">1.14</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">1.4</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;">50</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 1px solid black;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="width: 48%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">Exercisable, December 27, 2020</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">413</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">1.14</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">1.4</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td><td colspan="2" style="text-align: right; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;">50</td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; border-bottom: 3px double black;"> </td></tr>
</tbody></table>
413000
1.14
-0
0
-0
0
413000
1.14
P1Y4M24D
50000
413000
1.14
P1Y4M24D
50000
<table border="0" cellpadding="0" cellspacing="0" class="finTable" style="width: 95%; text-indent: 0px; font-family: Arial; font-size: 10pt; margin-right: 5%; margin-left: 36pt;"><tbody><tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="width: 74%; font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> <p style="font-family: Arial; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; background-color: rgb(255, 255, 255);"><i>(Thousands of Shares, Except Per Share Data)</i></p> </td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> <p style="margin: 0pt; text-align: right; font-family: Arial; font-size: 10pt; background-color: rgb(255, 255, 255);"><em style="font: inherit;">Shares</em></p> </td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td><td colspan="2" style="text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"><em style="font: inherit;">Weighted Average Grant Date Fair Value</em></td><td style="font-family: Arial; font-size: 10pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid; background-color: rgb(255, 255, 255);"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td><td style="font-family: Arial; font-size: 10pt;"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Outstanding, September 27, 2020</p> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;">1,550</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;">2.15</td><td style="width: 1%; font-family: Arial; font-size: 10pt; margin-left: 0pt; vertical-align: top;"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top">Vested</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">(447</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top">)</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">2.77</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top">Granted</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">458</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">1.12</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td></tr>
<tr style="background-color: rgb(255, 255, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top">Cancelled</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">—</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top">—</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top"> </td></tr>
<tr style="background-color: rgb(204, 238, 255); vertical-align: bottom"><td style="font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;">Outstanding, December 27, 2020</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;">1,561</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td><td style="width: 10%; text-align: right; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;">1.67</td><td style="width: 1%; font-family: Arial; font-size: 10pt; vertical-align: top; border-bottom: 3px double black; border-top: 1px solid black;"> </td></tr>
</tbody></table>
1550000
2.15
447000
2.77
458000
1.12
-0
0
1561000
1.67
1534000
P1Y10M24D
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial; font-size: 10pt;"><tbody><tr style="font-family: Arial; font-size: 10pt;"><td style="width: 36pt; font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="color:#000000;"><b><em style="font: inherit;">11</em></b></span></p> </td><td style="font-family: Arial; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><span style="color:#000000;"><b>FAIR VALUE MEASUREMENTS</b></span></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: left; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">We utilize FASB ASC Topic <em style="font: inherit;">820,</em><i> Fair Value Measurements and Disclosures</i>, to measure and report fair value. FASB ASC Topic <em style="font: inherit;">820</em> defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FASB ASC Topic <em style="font: inherit;">820</em> establishes a <em style="font: inherit;">three</em>-level hierarchy of fair value measurements based on whether the inputs to those measurements are observable or unobservable, which consists of the following levels:</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 27pt 0pt 63pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;"><i>Level <em style="font: inherit;">1</em></i> - Quoted prices for identical instruments in active markets.</span></p>
<p style="margin: 0pt 27pt 0pt 63pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 27pt 0pt 63pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;"><i>Level <em style="font: inherit;">2</em></i> - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are <em style="font: inherit;">not</em> active; and model-derived valuations in which all significant inputs are observable in active markets.</span></p>
<p style="margin: 0pt 27pt 0pt 63pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 27pt 0pt 63pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;"><i>Level <em style="font: inherit;">3</em></i> - Valuations derived from valuation techniques in which <em style="font: inherit;">one</em> or more significant inputs are unobservable.</span></p>
<p style="margin: 0pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">The following methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practicable to estimate value.</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of those instruments. Investments totaling $</span>4,226,000<span style="color:#000000;">, including our </span>17%<span style="color:#000000;"> ownership of the non-voting common stock of TCT, are carried at cost. </span><span style="color:#000000;">Fair value of the remaining investments are carried at cost.</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">Our fixed rate debt consists of $523,556,000 </span><span style="color:#000000;">principal amount of the Term Loan recorded at carrying value. At <em style="font: inherit;"> December 27, 2020, </em>based on market price quotations, the fair value is $532,456,000. This represents a level <em style="font: inherit;">2</em> fair value measurement. </span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><span style="color:#000000;">As discussed more fully in Note <em style="font: inherit;">5,</em> we recorded a liability for the Warrants issued in connection with the Warrant Agreement. The liability was initially measured at its fair value and we measure the liability to fair value each reporting period, with changes reported in other non-operating income (expense). The initial fair value of the Warrants was $16,930,000. The fair value of Warrants at </span><em style="font: inherit;"> December 27, 2020</em><span style="color:#000000;"> and</span> <em style="font: inherit;"> September 27, 2020</em><span style="color:#000000;"> are $247,000</span><span style="color:#000000;"> and </span><span style="background-color:null;"><span style="color:#000000;">$363,000</span></span><span style="color:#000000;">, respectively. Fair value is determined using the Black-Scholes option pricing model. These represent level <em style="font: inherit;">2</em> fair value measurements.</span></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
4226000
0.17
523556000
532456000
16930000
247000
363000
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-left: 0pt; margin-right: 0pt;"><tbody><tr style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt;"><td style="width: 3%; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top;"> <p style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b><em style="font: inherit;">12</em></b></p> </td><td style="font-family: Arial, Helvetica, sans-serif; font-size: 10pt; vertical-align: top; width: 97%;"> <p style="text-align: left; font-family: Arial, Helvetica, sans-serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><b>COMMITMENTS AND CONTINGENT LIABILITIES</b></p> </td></tr>
</tbody></table>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b> </b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Income Taxes</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">Commitments exclude unrecognized tax benefits to be recorded in accordance with FASB ASC Topic <em style="font: inherit;">740,</em> <i>Income Taxes</i>. We are unable to reasonably estimate the ultimate amount or timing of cash settlements with the respective taxing authorities for such matters. See Note <em style="font: inherit;">8.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We file income tax returns with the Internal Revenue Service (“IRS”) and various state tax jurisdictions. From time to time, we are subject to routine audits by those agencies and those audits <em style="font: inherit;"> may </em>result in proposed adjustments. We have considered the alternative interpretations that <em style="font: inherit;"> may </em>be assumed by the various taxing agencies, believe our positions taken regarding our filings are valid, and that adequate tax liabilities have been recorded to resolve such matters. However, the actual outcome cannot be determined with certainty and the difference could be material, either positively or negatively, to the Consolidated Statements of Operations and Comprehensive Income in the periods in which such matters are ultimately determined. We do <em style="font: inherit;">not</em> believe the final resolution of such matters will be material to our consolidated financial position or cash flows.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We have various income tax examinations ongoing and at various stages of completion, but generally our income tax returns have been audited or closed to audit through <em style="font: inherit;">2013.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Legal Proceedings</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We are involved in a variety of legal actions that arise in the normal course of business. Insurance coverage mitigates potential loss for certain of these matters. While we are unable to predict the ultimate outcome of these legal actions, it is our opinion that the disposition of these matters will <em style="font: inherit;">not</em> have a material adverse effect on our Consolidated Financial Statements, taken as a whole.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Restructuring Costs and Other</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We have recognized $3,167,000 of expense related to restructuring costs and other. This amount consists of severance expense of $3,167,000. We did <span style="-sec-ix-hidden:c68354112">not</span> have a significant restructuring liability as of <em style="font: inherit;"> December 27, 2020.</em></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"><b>Subsequent events</b></p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;">We have evaluated subsequent events through <em style="font: inherit;"> February 5, 2021. </em><em style="font: inherit;">No</em> events have occurred subsequent to <em style="font: inherit;"> December 27, 2020 </em>that require disclosure or recognition in these financial statements.</p>
<p style="margin: 0pt 0pt 0pt 36pt; text-align: justify; font-family: Arial; font-size: 10pt;"> </p>
3167000
3167000