Washington Post 2010 Annual Report Download - page 79

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THE WASHINGTON POST COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Year Ended
(in thousands, except per share amounts)
January 2,
2011 January 3,
2010 December 28,
2008
Operating Revenues
Education ........................................................... $2,901,811 $2,636,638 $2,331,580
Advertising .......................................................... 833,605 778,158 954,369
Circulation and subscriber ............................................... 857,290 845,848 801,672
Other .............................................................. 130,867 125,872 124,094
4,723,573 4,386,516 4,211,715
Operating Costs and Expenses
Operating ........................................................... 1,919,530 1,868,747 1,864,533
Selling, general and administrative ......................................... 1,954,758 1,916,177 1,693,744
Depreciation of property, plant and equipment ................................ 247,785 291,684 263,554
Amortization of intangible assets .......................................... 27,191 26,642 22,525
Impairment of goodwill and other long-lived assets ............................. 27,477 25,387 135,439
4,176,741 4,128,637 3,979,795
Income from Operations .................................................... 546,832 257,879 231,920
Equity in losses of affiliates, net ........................................... (4,133) (29,421) (7,837)
Interest income ....................................................... 2,576 2,597 5,672
Interest expense ....................................................... (30,503) (31,565) (24,658)
Other income (expense), net ............................................. 8,652 13,197 (2,189)
Income from Continuing Operations Before Income Taxes ......................... 523,424 212,687 202,908
Provision for Income Taxes .................................................. 216,600 76,400 106,600
Income from Continuing Operations .......................................... 306,824 136,287 96,308
Loss from Discontinued Operation, Net of Tax .................................. (28,804) (45,087) (30,512)
Net Income .............................................................. 278,020 91,200 65,796
Net Loss (Income) Attributable to Noncontrolling Interests ......................... 94 1,574 (74)
Net Income Attributable to The Washington Post Company ........................ 278,114 92,774 65,722
Redeemable Preferred Stock Dividends ........................................ (922) (928) (946)
Net Income Available for The Washington Post Company Common Stockholders ....... $ 277,192 $ 91,846 $ 64,776
Amount Attributable to The Washington Post Company Common Stockholders
Income from continuing operations ........................................... $ 305,996 $ 136,933 $ 95,288
Loss from discontinued operations, net of tax ................................... (28,804) (45,087) (30,512)
Net income available for The Washington Post Company common stockholders ......... $ 277,192 $ 91,846 $ 64,776
Per Share Information Attributable to The Washington Post Company Common
Stockholders
Basic income per common share from continuing operations ........................ $ 34.28 $ 14.58 $ 10.13
Basic loss per common share from discontinued operations ......................... (3.22) (4.80) (3.24)
Basic net income per common share ......................................... $ 31.06 $ 9.78 $ 6.89
Basic average number of common shares outstanding ............................. 8,869 9,332 9,408
Diluted income per common share from continuing operations ....................... $ 34.26 $ 14.58 $ 10.11
Diluted loss per common share from discontinued operations ........................ (3.22) (4.80) (3.24)
Diluted net income per common share ........................................ $ 31.04 $ 9.78 $ 6.87
Diluted average number of common shares outstanding ........................... 8,931 9,392 9,430
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Fiscal Year Ended
(in thousands)
January 2,
2011 January 3,
2010 December 28,
2008
Net Income ................................................................. $278,020 $ 91,200 $ 65,796
Other Comprehensive Income (Loss)
Foreign currency translation adjustments ........................................ 10,994 33,550 (51,172)
Change in net unrealized gain on available-for-sale securities ........................ (12,974) 9,742 (87,513)
Pension and other postretirement plan adjustments ................................. 126,471 130,492 (630,574)
Less reclassification adjustment for realized gains included in net income ................ —— (47,308)
124,491 173,784 (816,567)
Income tax (expense) benefit related to other comprehensive income (loss) ............... (46,864) (58,592) 311,351
77,627 115,192 (505,216)
Comprehensive Income (Loss) ................................................... 355,647 206,392 (439,420)
Comprehensive (income) loss attributable to noncontrolling interests .................... (13) 1,574 (74)
Total Comprehensive Income (Loss) Attributable to The Washington Post Company ......... $355,634 $207,966 $(439,494)
See accompanying Notes to Consolidated Financial Statements.
2010 FORM 10-K 63