Washington Post 2012 Annual Report Download - page 113

THE WASHINGTON POST COMPANY
FIVE-YEAR SUMMARY OF SELECTED HISTORICAL FINANCIAL DATA
See Notes to Consolidated Financial Statements for the summary of significant accounting policies and additional information relative to the
years 2010–2012 and refer to Note 3 for discussion of discontinued operations.
(in thousands, except per share amounts) 2012 2011 2010 2009 2008
Results of Operations
Operating revenues ................................................ $4,017,653 $4,131,145 $4,586,417 $4,221,292 $4,050,613
Income from operations ............................................. 144,531 325,858 602,864 303,883 310,828
Income from continuing operations ..................................... 49,010 145,628 355,919 168,991 168,362
Net income attributable to The Washington Post Company common stockholders . . 131,218 116,233 277,192 91,846 64,776
Per Share Amounts
Basic earnings per common share attributable to The Washington Post Company
common stockholders
Income from continuing operations ................................... $ 6.09 $ 18.30 $ 39.78 $ 18.06 $ 17.73
Net income .................................................... 17.39 14.70 31.06 9.78 6.89
Diluted earnings per common share attributable to The Washington Post Company
common stockholders
Income from continuing operations ................................... $ 6.09 $ 18.30 $ 39.76 $ 18.06 $ 17.71
Net income .................................................... 17.39 14.70 31.04 9.78 6.87
Weighted average shares outstanding:
Basic ........................................................ 7,360 7,826 8,869 9,332 9,408
Diluted ....................................................... 7,404 7,905 8,931 9,392 9,430
Cash dividends per common share .................................... $ 19.60 $ 9.40 $ 9.00 $ 8.60 $ 8.60
The Washington Post Company common stockholders’ equity per common share . . $ 348.17 $ 342.76 $ 343.47 $ 317.21 $ 305.12
Financial Position
Working capital .................................................. $ 327,476 $ 250,069 $ 353,621 $ 398,481 $ 257,292
Total assets ...................................................... 5,105,069 5,016,986 5,158,367 5,186,206 5,158,434
Long-term debt ................................................... 453,384 452,229 396,650 396,236 400,003
The Washington Post Company common stockholders’ equity ................. 2,586,028 2,601,896 2,814,364 2,939,550 2,857,540
Impact from certain items included in income from continuing operations (after-tax and diluted EPS amounts):
2012
• goodwill and other long-lived assets impairment charge of $81.9 million ($11.33 per share) at KTP
• charges of $45.5 million ($6.18 per share) related to early retirement, severance and other restructuring at the education and newspaper publishing
divisions
• write-down of a marketable equity security of $11.2 million ($1.54 per share)
• $3.7 million ($0.48 per share) gain on sale of cost method investment
• gains, net, of $2.0 million ($0.27 per share) from non-operating unrealized foreign currency gains
2011
• charges of $19.4 million ($2.46 per share) related to severance and restructuring at the education and newspaper publishing divisions
• impairment charge at one of the Company’s affiliates of $5.7 million ($0.72 per share)
• write-down of a marketable equity security of $34.6 million ($4.34 per share)
• losses, net, of $2.1 million ($0.26 per share) from non-operating unrealized foreign currency losses
2010
• charge of $12.7 million ($1.38 per share) at the Post in connection with the withdrawal from a multiemployer pension plan
• charges of $24.2 million ($2.83 per share) related to severance and restructuring
• gains, net, of $4.2 million ($0.47 per share) from non-operating unrealized foreign currency gains
2009
• charges of $35.9 million ($3.82 per share) related to early retirement program expense at the newspaper publishing division
• charges of $20.6 million ($2.19 per share) in connection with the restructuring of Kaplan’s Score and Test Preparation operations
• $21.0 million ($2.23 per share) in accelerated depreciation related to the closing of the Post’s College Park, MD, plant and the consolidation of
operations at the Post
• impairment charges of $18.8 million ($2.00 per share) at two of the Company’s affiliates
• gains, net, of $10.3 million ($1.10 per share) from non-operating unrealized foreign currency gains
2008
• goodwill, intangible assets and other impairment charges of $49.6 million ($5.28 per share) at the Company’s community newspapers, The Herald
and other operations included in the newspaper publishing segment; and at two of the Company’s equity affiliates
• charges of $50.1 million ($5.27 per share) related to early retirement program expense at the Post and the corporate office
• $13.9 million ($1.48 per share) in accelerated depreciation related to the planned closing of the Post’s College Park, MD, plant
• charges of $6.8 million ($0.72 per share) in connection with the restructuring of KHE’s professional training businesses
• gains of $28.9 million ($3.09 per share) from the sales of marketable securities
• losses, net, of $28.5 million ($3.04 per share) from non-operating unrealized foreign currency losses
• charge of $9.5 million ($1.01 per share) in income tax expense related to valuation allowances provided against certain state and local income tax
benefits, net of U.S. Federal income tax benefits
2012 FORM 10-K 101