Washington Post 2000 Annual Report Download - page 8

The Washington Post Company
Consolidated Statements of Income
33
Fiscal year ended
December 31, January 2, January 3,
(in thousands, except share amounts) 2000 2000 1999
Operating Revenues
Advertising ..................................................................................................... $ 1,396,583 $ 1,330,560 $ 1,297,621
Circulation and subscriber.............................................................................. 601,258 579,693 547,450
Education....................................................................................................... 352,753 240,075 171,372
Other ............................................................................................................. 61,556 65,243 93,917
2,412,150 2,215,571 2,110,360
Operating Costs and Expenses
Operating ....................................................................................................... 1,308,063 1,189,734 1,139,177
Selling, general, and administrative................................................................. 583,623 474,586 453,149
Depreciation of property, plant, and equipment............................................... 117,948 104,235 89,248
Amortization of goodwill and other intangibles................................................. 62,634 58,563 49,889
2,072,268 1,827,118 1,731,463
Income From Operations ................................................................................... 339,882 388,453 378,897
Equity in losses of affiliates ............................................................................. (36,466) (8,814) (5,140)
Interest income .............................................................................................. 967 1,097 1,137
Interest expense............................................................................................. (54,731) (26,786) (11,538)
Other (expense) income, net .......................................................................... (19,782) 21,435 304,703
Income Before Income Taxes............................................................................. 229,870 375,385 668,059
Provision for Income Taxes ................................................................................ 93,400 149,600 250,800
Net Income........................................................................................................ 136,470 225,785 417,259
Redeemable Preferred Stock Dividends............................................................. (1,026) (950) (956)
Net Income Available for Common Shares ........................................................ $ 135,444 $ 224,835 $ 416,303
Basic Earnings per Common Share.................................................................... $ 14.34 $ 22.35 $ 41.27
Diluted Earnings per Common Share................................................................. $ 14.32 $ 22.30 $ 41.10
Consolidated Statements of Comprehensive Income
Fiscal year ended
December 31, January 2, January 3,
(in thousands) 2000 2000 1999
Net Income........................................................................................................ $ 136,470 $ 225,785 $ 417,259
Other Comprehensive Income (Loss)
Foreign currency translation adjustments........................................................ (1,685) (3,289) (1,136)
Change in net unrealized gain on available-for-sale securities.......................... 13,527 (48,176) 68,768
Less reclassification adjustment for
realized gains included in net income......................................................... (197) (11,995) —
11,645 (63,460) 67,632
Income tax (expense) benefit related to other
comprehensive income (loss) ..................................................................... (5,097) 23,460 (26,819)
6,548 (40,000) 40,813
Comprehensive Income ..................................................................................... $ 143,018 $ 185,785 $ 458,072
The information on pages 38 through 50 is an integral part of the financial statements.