Washington Post 2001 Annual Report Download - page 24

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THE WASHINGTON POST COMPANY
Newspaper operations involve the publication of newspapers in the
Washington, D.C., area and Everett, Washington; newsprint ware-
housing and recycling facilities; and the Company’s electronic media
publishing business (primarily washingtonpost.com).
Magazine operations consist principally of the publication of a weekly
news magazine, Newsweek, which has one domestic and three inter-
national editions, the publication of a travel magazine, and the publica-
tion of business periodicals for the computer services industry and the
Washington-area technology community.
Revenues from both newspaper and magazine publishing operations
are derived from advertising and, to a lesser extent, from circulation.
Broadcast operations are conducted through six VHF television sta-
tions. All stations are network affiliated, with revenues derived prima-
rily from sales of advertising time.
Cable television operations consist of cable systems offering basic
cable and pay television services to approximately 752,700 subscribers
in 19 midwestern, western, and southern states. The principal source
of revenues is monthly subscription fees charged for services.
Educational products and services are provided through the
Company’s wholly-owned subsidiary Kaplan, Inc. Kaplan’s major lines
of businesses include Test Preparation and Admissions, providing test
preparation services for college and graduate school entrance exams;
Kaplan Professional, providing educational services to business peo-
ple and other professionals; Score!, offering multimedia learning and
private tutoring to children and educational resources to parents; and
Kaplan’s higher education division, which includes Quest, a provider
of post-secondary education offering Bachelor’s degrees, Associate’s
degrees, and diploma programs primarily in the fields of healthcare,
business, and information technology, and The Kaplan Colleges,
Kaplan’s distance-learning businesses, including kaplancollege.com.
In early 2002, Kaplan put all of its post-secondary schools (Quest and
The Kaplan Colleges) under a single higher education division.
Other businesses and corporate office includes the Company’s cor-
porate office. Through the first half of 1999, the other businesses and
corporate office segment also includes the results of Legi-Slate, Inc.,
the assets of which were sold in June 1999.
Income from operations is the excess of operating revenues over oper-
ating expenses. In computing income from operations by segment, the
effects of equity in earnings of affiliates, interest income, interest
expense, other non-operating income and expense items, and income
taxes are not included.
Identifiable assets by segment are those assets used in the Company’s
operations in each business segment. Investments in marketable equity
securities and investments in affiliates are discussed in Note C.