Washington Post 2002 Annual Report Download - page 39

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counted basis, did not support the net carrying value of the awarded prior to fiscal year 2002 will continue to be accounted
related goodwill. Accordingly, an after-tax goodwill impairment for under the intrinsic value method under Accounting Principles
loss of $12.1 million, or $1.27 per share was recorded. The Board Opinion No. 25, ‘‘Accounting for Stock Issued to
loss is included in the Company’s 2002 results as a cumulative Employees.’’
effect of change in accounting principle. In December 2002, the Company awarded 11,500 stock
Stock Options — Change in Accounting Method. Effective the options, resulting in total stock option compensation expense of
first day of the Company’s 2002 fiscal year, the Company $45,000 for 2002.
adopted the fair-value-based method of accounting for Compa- The accounting treatment for the Company’s Kaplan stock option
ny stock options as outlined in Statement of Financial Accounting plan is not impacted by this change in accounting method, as
Standards No. 123 (SFAS 123), ‘‘Accounting for Stock-Based the expense related to the Kaplan stock option plan has been
Compensation.’’ This change in accounting method was applied and will continue to be recorded in the Company’s results of
prospectively to all awards granted from the beginning of the operations.
Company’s fiscal year 2002 and thereafter. Stock options
2002 FORM 10-K 37