Washington Post 2001 Annual Report Download - page 13

Download and view the complete annual report

Please find page 13 of the 2001 Washington Post annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 31

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31

40
THE WASHINGTON POST COMPANY
Fiscal year ended
December 30, December 31, January 2,
(in thousands) 2001 2000 2000
Cash Flows from Operating Activities:
Net income................................................................ $ 229,639 $ 136,470 $ 225,785
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation of property, plant, and equipment ........................ 138,300 117,948 104,235
Amortization of goodwill and other intangibles ......................... 78,933 62,634 58,563
Net pension benefit..................................................... (76,945) (65,312) (84,416)
Early retirement program expense ..................................... 3,344 29,049 2,733
Gain from sale or exchange of certain businesses..................... (321,091) — —
Loss (gain) on disposition of marketable equity
securities and cost method investments, net........................ 511 (11,588) (38,799)
Cost method investment and other write-downs ....................... 36,672 23,097 13,555
Equity in losses of affiliates, net of distributions........................ 68,659 37,406 9,744
Provision for deferred income taxes.................................... 97,302 (7,743) 29,988
Change in assets and liabilities:
Decrease (increase) in accounts receivable, net.................... 28,803 (44,413) (28,194)
(Increase) decrease in inventories .................................. (3,390) (1,265) 6,264
Increase (decrease) in accounts payable and accrued liabilities.... 24,756 22,192 (7,749)
Decrease (increase) in income taxes receivable .................... 1,591 36,227 (2,909)
Decrease in other assets and other liabilities, net................... 38,294 23,141 3,314
Other ................................................................... 3,452 10,701 (1,521)
Net cash provided by operating activities............................ 348,830 368,544 290,593
Cash Flows from Investing Activities:
Investments in certain businesses ........................................ (104,356) (212,274) (90,455)
Net proceeds from sale of businesses.................................... 61,921 1,650 2,000
Purchases of property, plant, and equipment ............................. (224,227) (172,383) (130,045)
Purchases of marketable equity securities................................ — — (23,332)
Purchases of cost method investments................................... (11,675) (42,459) (33,549)
Investments in affiliates ................................................... (21,112) (12,430) —
Proceeds from sale of marketable equity securities ...................... 145 6,332 54,805
Other ...................................................................... 1,477 8,036 12,605
Net cash used in investing activities ................................... (297,827) (423,528) (207,971)
Cash Flows from Financing Activities:
Issuance of commercial paper, net ....................................... 10,072 35,071 34,087
Issuance of notes ......................................................... — — 397,620
Dividends paid ............................................................ (54,166) (52,024) (53,326)
Common shares repurchased ............................................ (445) (96) (425,865)
Proceeds from exercise of stock options ................................. 4,671 7,056 25,151
Other ...................................................................... — 9,843 —
Net cash used in financing activities ................................... (39,868) (150) (22,333)
Net Increase (Decrease) in Cash and Cash Equivalents ........................ 11,135 (55,134) 60,289
Cash and Cash Equivalents at Beginning of Year .............................. 20,345 75,479 15,190
Cash and Cash Equivalents at End of Year..................................... $ 31,480 $ 20,345 $ 75,479
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes ........................................................... $ 52,600 $ 95,000 $ 125,000
Interest, net of amounts capitalized .................................... $ 48,000 $ 52,700 $ 16,000
The information on pages 42 through 54 is an integral part of the financial statements.
THE WASHINGTON POST COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS