Washington Post 2009 Annual Report Download - page 69

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THE WASHINGTON POST COMPANY
CONSOLIDATED STATEMENTS OF INCOME
Fiscal Year Ended
(in thousands, except per share amounts) January 3,
2010 December 28,
2008 December 30,
2007
Operating Revenues
Education ........................................................... $2,636,638 $2,331,580 $2,030,889
Advertising .......................................................... 858,109 1,083,084 1,234,643
Circulation and subscriber ............................................... 932,402 901,898 817,807
Other .............................................................. 142,582 145,018 97,067
4,569,731 4,461,580 4,180,406
Operating Costs and Expenses
Operating ........................................................... 2,002,938 2,023,816 1,882,984
Selling, general and administrative ......................................... 2,024,901 1,839,986 1,581,596
Depreciation of property, plant and equipment ................................ 295,871 265,606 221,239
Amortization of intangible assets ........................................... 26,642 22,525 17,571
Impairment of goodwill and other long-lived assets ............................. 25,387 135,439 —
4,375,739 4,287,372 3,703,390
Income from Operations .................................................... 193,992 174,208 477,016
Equity in (losses) earnings of affiliates ....................................... (29,421) (7,837) 5,975
Interest income ........................................................ 2,597 5,672 11,338
Interest expense ....................................................... (31,565) (24,658) (24,046)
Other income (expense), net .............................................. 13,197 (2,189) 11,182
Income Before Income Taxes ................................................ 148,800 145,196 481,465
Provision for Income Taxes .................................................. 57,600 79,400 192,500
Net Income .............................................................. 91,200 65,796 288,965
Net Loss (Income) Attributable to Noncontrolling Interests .......................... 1,574 (74) (358)
Net Income Attributable to The Washington Post Company ........................ 92,774 65,722 288,607
Redeemable Preferred Stock Dividends ........................................ (928) (946) (952)
Net Income Available for Common Shares ..................................... $ 91,846 $ 64,776 $ 287,655
Basic Earnings per Common Share ............................................ $ 9.78 $ 6.89 $ 30.31
Diluted Earnings per Common Share .......................................... $ 9.78 $ 6.87 $ 30.19
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Fiscal Year Ended
(in thousands) January 3,
2010 December 28,
2008 December 30,
2007
Net Income $ 91,200 $ 65,796 $288,965
Other Comprehensive Income (Loss)
Foreign currency translation adjustments ..................................... 33,550 (51,172) 26,653
Change in net unrealized gain on available-for-sale securities ..................... 9,742 (87,513) 115,269
Pension and other postretirement plan adjustments .............................. 130,492 (630,574) 42,777
Less reclassification adjustment for realized gains included in net income ............. —(47,308) (394)
173,784 (816,567) 184,305
Income tax (expense) benefit related to other comprehensive income (loss) ............ (58,592) 311,351 (67,330)
115,192 (505,216) 116,975
Comprehensive Income (Loss) ................................................ $206,392 $(439,420) $405,940
Comprehensive loss (income) attributable to the noncontrolling interest ............... 1,574 (74) (358)
Total Comprehensive Income (Loss) Attributable to The Washington Post Company ...... $207,966 $(439,494) $405,582
See accompanying Notes to Consolidated Financial Statements.
2009 FORM 10-K 55