Washington Post 2008 Annual Report Download - page 45

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Companies, The Meredith Corporation, The New York Times Company and The Washington Post Company and also is
weighted by market capitalization. The custom peer group of education companies includes Apollo Group Inc., Capella
Education Co., Career Education Corp., Corinthian Colleges, Inc., DeVry Inc., ITT Educational Services Inc. and Strayer
Education Inc. The Company is using a custom peer index of education companies this year because the Company is a
diversified education and media company. Its largest and fastest growing business is Kaplan Inc., a leading global
provider of educational services to individuals, schools and businesses. The graph reflects the investment of $100 on
December 31, 2003, in the Company’s Class B Common Stock, the Standard & Poor’s 500 Stock Index, the
Standard & Poor’s Publishing Index and the custom peer group index of education companies. For purposes of this graph,
it has been assumed that dividends were reinvested on the date paid in the case of the Company and on a quarterly
basis in the case of the Standard & Poor’s 500 Index, the Standard & Poor’s Publishing Index and the custom peer group
index of education companies.
COMPARISON OF CUMULATIVE FIVE YEAR TOTAL RETURN
The Washington Post Company S&P 500 Index S&P Publishing Index Peer Group
$0
$50
$100
$150
2003 2004 2005 2006 2007 2008
December 31 2003 2004 2005 2006 2007 2008
The Washington Post Company ................... 100 125.20 98.28 96.77 103.80 51.94
S&P 500 Index ............................... 100 110.88 116.33 134.70 142.10 89.53
S&P Publishing Index ........................... 100 97.12 84.74 97.72 73.38 31.50
Education Peer Group .......................... 100 104.07 85.75 71.61 113.20 121.20
Item 6. Selected Financial Data.
See the information for the years 2004 through 2008 contained in the table titled “Ten-Year Summary of Selected
Historical Financial Data” which is included in this Annual Report on Form 10-K and listed in the index to financial
information on page 38 hereof (with only the information for such years to be deemed filed as part of this Annual Report
on Form 10-K).
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
See the information contained under the heading “Management’s Discussion and Analysis of Results of Operations and
Financial Condition” which is included in this Annual Report on Form 10-K and listed in the index to financial information
on page 38 hereof.
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
The Company is exposed to market risk in the normal course of its business due primarily to its ownership of marketable
equity securities, which are subject to equity price risk; to its borrowing and cash-management activities, which are
subject to interest rate risk; and to its foreign business operations, which are subject to foreign exchange rate risk. Neither
the Company nor any of its subsidiaries is a party to any derivative financial instruments.
2008 FORM 10-K 33