Washington Post 2002 Annual Report Download - page 41

CONSOLIDATED STATEMENTS OF INCOME
Fiscal year ended
December 29, December 30, December 31,
(in thousands, except per share amounts) 2002 2001 2000
Operating Revenues
Advertising*************************************************** $ 1,226,834 $1,209,327 $1,396,583
Circulation and subscriber ************************************ 675,136 653,028 598,741
Education **************************************************** 621,125 493,271 352,753
Other ******************************************************** 61,108 55,398 61,556
2,584,203 2,411,024 2,409,633
Operating Costs and Expenses
Operating**************************************************** 1,369,955 1,387,101 1,305,546
Selling, general and administrative **************************** 664,095 586,758 583,623
Depreciation of property, plant and equipment ***************** 171,908 138,300 117,948
Amortization of goodwill and other intangibles ***************** 655 78,933 62,634
2,206,613 2,191,092 2,069,751
Income from Operations ************************************ 377,590 219,932 339,882
Equity in losses of affiliates************************************ (19,308) (68,659) (36,466)
Interest income *********************************************** 332 2,167 967
Interest expense ********************************************** (33,819) (49,640) (54,731)
Other income (expense), net*********************************** 28,873 283,739 (19,782)
Income Before Income Taxes and Cumulative Effect of
Change in Accounting Principle *************************** 353,668 387,539 229,870
Provision for Income Taxes********************************** 137,300 157,900 93,400
Income Before Cumulative Effect of Change in Accounting
Principle ************************************************* 216,368 229,639 136,470
Cumulative Effect of Change in Method of Accounting for
Goodwill and Other Intangible Assets, Net of Taxes******** (12,100) ——
Net Income ************************************************ 204,268 229,639 136,470
Redeemable Preferred Stock Dividends ********************** (1,033) (1,052) (1,026)
Net Income Available for Common Shares ******************* $ 203,235 $ 228,587 $ 135,444
Basic Earnings per Common Share:
Before Cumulative Effect of Change in Accounting Principle ** $ 22.65 $ 24.10 $ 14.34
Cumulative Effect of Change in Accounting Principle ********* (1.27) ——
Net Income Available for Common Shares ******************* $ 21.38 $ 24.10 $ 14.34
Diluted Earnings per Common Share:
Before Cumulative Effect of Change in Accounting Principle ** $ 22.61 $ 24.06 $ 14.32
Cumulative Effect of Change in Accounting Principle ********* (1.27) ——
Net Income Available for Common Shares ******************* $ 21.34 $ 24.06 $ 14.32
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Fiscal year ended
December 29, December 30, December 31,
(in thousands) 2002 2001 2000
Net Income ************************************************ $ 204,268 $ 229,639 $ 136,470
Other Comprehensive Income (Loss)
Foreign currency translation adjustments *********************** 2,167 (3,104) (1,685)
Change in net unrealized gain on available-for-sale securities *** 829 14,528 13,527
Less reclassification adjustment for realized (gains)
losses included in net income******************************** (11,209) 3,238 (197)
(8,213) 14,662 11,645
Income tax benefit (expense) related to other
comprehensive income (loss) ******************************** 4,012 (6,987) (5,097)
(4,201) 7,675 6,548
Comprehensive Income ************************************* $ 200,067 $ 237,314 $ 143,018
The information on pages 44 through 56 is an integral part of the financial statements.
2002 FORM 10-K 39