Washington Post 2012 Annual Report Download - page 78

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THE WASHINGTON POST COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
Fiscal Year Ended
(in thousands, except per share amounts) December 31,
2012 December 31,
2011 January 2,
2011
Operating Revenues
Education ............................................................... $2,196,496 $2,404,459 $2,804,840
Advertising .............................................................. 785,831 754,544 833,605
Circulation and subscriber ................................................... 877,503 856,457 857,290
Other .................................................................. 157,823 115,685 90,682
4,017,653 4,131,145 4,586,417
Operating Costs and Expenses
Operating .............................................................. 1,880,236 1,904,161 1,850,402
Selling, general and administrative ............................................ 1,591,648 1,629,726 1,869,194
Depreciation of property, plant and equipment .................................... 268,643 249,065 242,405
Amortization of intangible assets .............................................. 21,002 22,335 21,552
Impairment of goodwill and other long-lived assets ................................. 111,593 ——
3,873,122 3,805,287 3,983,553
Income from Operations ..................................................... 144,531 325,858 602,864
Equity in earnings (losses) of affiliates, net ....................................... 14,086 5,949 (4,133)
Interest income ........................................................... 3,393 4,147 2,576
Interest expense .......................................................... (35,944) (33,226) (30,503)
Other (expense) income, net ................................................. (5,456) (55,200) 7,515
Income from Continuing Operations Before Income Taxes ............................ 120,610 247,528 578,319
Provision for Income Taxes ................................................... 71,600 101,900 222,400
Income from Continuing Operations ............................................ 49,010 145,628 355,919
Income (Loss) from Discontinued Operations, Net of Tax ............................. 83,177 (28,471) (77,899)
Net Income ............................................................... 132,187 117,157 278,020
Net (Income) Loss Attributable to Noncontrolling Interests ............................ (74) (7) 94
Net Income Attributable to The Washington Post Company ........................... 132,113 117,150 278,114
Redeemable Preferred Stock Dividends .......................................... (895) (917) (922)
Net Income Attributable to The Washington Post Company Common Stockholders ......... $ 131,218 $ 116,233 $ 277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations .............................................. $ 48,041 $ 144,704 $ 355,091
Income (loss) from discontinued operations, net of tax ................................. 83,177 (28,471) (77,899)
Net income attributable to The Washington Post Company common stockholders ............ $ 131,218 $ 116,233 $ 277,192
Per Share Information Attributable to The Washington Post Company Common Stockholders
Basic income per common share from continuing operations ............................ $ 6.09 $ 18.30 $ 39.78
Basic income (loss) per common share from discontinued operations ...................... 11.30 (3.60) (8.72)
Basic net income per common share ............................................. $ 17.39 $ 14.70 $ 31.06
Basic average number of common shares outstanding ................................ 7,360 7,826 8,869
Diluted income per common share from continuing operations .......................... $ 6.09 $ 18.30 $ 39.76
Diluted income (loss) per common share from discontinued operations ..................... 11.30 (3.60) (8.72)
Diluted net income per common share ............................................ $ 17.39 $ 14.70 $ 31.04
Diluted average number of common shares outstanding ............................... 7,404 7,905 8,931
See accompanying Notes to Consolidated Financial Statements.
66 THE WASHINGTON POST COMPANY