Washington Post 2002 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 2002 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 64

  • 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
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64

First Second Third Fourth
(in thousands, except per share amounts) Quarter Quarter Quarter Quarter
2001 Quarterly Operating Results
Operating revenues
Advertising ************************************************************* $297,974 $312,881 $277,425 $321,047
Circulation and subscriber*********************************************** 148,016 161,260 174,716 169,036
Education ************************************************************** 121,341 119,442 127,159 125,329
Other ****************************************************************** 19,068 10,326 13,007 12,997
586,399 603,909 592,307 628,409
Operating costs and expenses
Operating************************************************************** 343,416 340,114 345,567 358,003
Selling, general and administrative ************************************** 147,915 151,409 144,954 142,480
Depreciation of property, plant and equipment *************************** 34,632 35,867 34,765 33,036
Amortization of goodwill and other intangibles *************************** 17,192 19,926 20,068 21,748
543,155 547,316 545,354 555,267
Income from operations *************************************************** 43,244 56,593 46,953 73,141
Equity in losses of affiliates********************************************** (12,461) (6,641) (26,535) (23,023)
Interest income ********************************************************* 325 1,047 226 570
Interest expense ******************************************************** (14,624) (13,240) (11,861) (9,914)
Other income (expense), net********************************************* 308,769 (10,717) (4,365) (9,949)
Income before income taxes *********************************************** 325,253 27,042 4,418 30,825
Provision for income taxes************************************************* 126,200 12,550 2,850 16,300
Net income*************************************************************** 199,053 14,492 1,568 14,525
Redeemable preferred stock dividends ************************************* (526) (263) (263) —
Net income available for common shares*********************************** 198,527 14,229 1,305 14,525
Basic earnings per common share****************************************** $ 20.94 $ 1.50 $ 0.14 $ 1.53
Diluted earnings per common share **************************************** $ 20.90 $ 1.50 $ 0.14 $ 1.53
Basic average number of common shares outstanding *********************** 9,479 9,485 9,489 9,492
Diluted average number of common shares outstanding********************** 9,499 9,502 9,502 9,501
2001 Quarterly Comprehensive Income (loss) ****************************** $187,049 $ 25,860 $ (937) $ 25,342
Pro forma results:(1)
Net income available for common shares, as reported ********************** $198,527 $ 14,229 $ 1,305 $ 14,525
Amortization of goodwill and other intangibles, net of tax ******************* 12,224 13,863 13,948 14,954
Pro forma net income available for common shares ************************* $210,751 $ 28,092 $ 15,253 $ 29,479
Basic earnings per share ************************************************** $ 22.23 $ 2.96 $ 1.61 $ 3.11
Diluted earnings per share************************************************* $ 22.19 $ 2.96 $ 1.61 $ 3.10
The sum of the four quarters may not necessarily be equal to the annual amounts reported in the Consolidated Statements of Income due
to rounding.
(1) Quarterly 2001 results are adjusted to exclude amortization of goodwill and indefinite-lived intangible assets no longer amortized under SFAS 142.
56 THE WASHINGTON POST COMPANY