Washington Post 2014 Annual Report Download - page 108

20. SUMMARY OF QUARTERLY OPERATING RESULTS AND COMPREHENSIVE INCOME (UNAUDITED)
Quarterly results of operations and comprehensive income for the year ended December 31, 2014, is as follows:
(in thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter
Operating Revenues
Education ........................................................... $522,154 $542,964 $543,918 $551,381
Subscriber .......................................................... 191,128 187,723 183,161 184,035
Advertising .......................................................... 78,247 82,475 81,583 101,271
Other .............................................................. 45,012 61,249 90,209 88,656
836,541 874,411 898,871 925,343
Operating Costs and Expenses
Operating .......................................................... 376,463 395,627 398,922 391,348
Selling, general and administrative ......................................... 325,275 322,240 358,189 319,854
Depreciation of property, plant and equipment ................................ 53,217 51,989 53,074 45,366
Amortization of intangible assets .......................................... 2,717 2,995 7,405 5,251
Impairment of intangible and other long-lived assets ............................ — — — 17,302
757,672 772,851 817,590 779,121
Income from Operations ............................................... 78,869 101,560 81,281 146,222
Equity in earnings of affiliates, net ......................................... 4,052 91,503 4,613 202
Interest income ....................................................... 599 641 529 367
Interest expense ...................................................... (8,820) (8,557) (9,330) (9,879)
Other income, net ..................................................... 133,273 268,114 64,526 387,346
Income from Continuing Operations Before Income Taxes ..................... 207,973 453,261 141,619 524,258
Provision for Income Taxes ............................................. 77,400 78,600 58,200 191,900
Income from Continuing Operations ...................................... 130,573 374,661 83,419 332,358
Income (Loss) from Discontinued Operations, Net of Tax ....................... 1,732 375,189 (6,980) 2,308
Net Income ......................................................... 132,305 749,850 76,439 334,666
Net Loss (Income) Attributable to Noncontrolling Interests ...................... 219 499 121 (256)
Net Income Attributable to Graham Holdings Company ....................... 132,524 750,349 76,560 334,410
Redeemable Preferred Stock Dividends .................................... (426) (212) (209) —
Net Income Attributable to Graham Holdings Company Common Stockholders ..... $132,098 $750,137 $ 76,351 $334,410
Amounts Attributable to Graham Holdings Company Common Stockholders
Income from continuing operations ......................................... $130,366 $374,948 $ 83,331 $332,102
Income (loss) from discontinued operations, net of tax ........................... 1,732 375,189 (6,980) 2,308
Net income attributable to Graham Holdings Company common stockholders ......... $132,098 $750,137 $ 76,351 $334,410
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic income per common share from continuing operations ...................... $ 17.62 $ 50.39 $ 14.38 $ 57.31
Basic income (loss) per common share from discontinued operations ................ 0.23 50.41 (1.20) 0.40
Basic net income per common share ....................................... $ 17.85 $ 100.80 $ 13.18 $ 57.71
Diluted income per common share from continuing operations ..................... $ 17.56 $ 50.22 $ 14.32 $ 57.01
Diluted income (loss) per common share from discontinued operations ............... 0.23 50.26 (1.20) 0.40
Diluted net income per common share ...................................... $ 17.79 $ 100.48 $ 13.12 $ 57.41
Basic average number of common shares outstanding ........................... 7,275 7,284 5,671 5,678
Diluted average number of common shares outstanding .......................... 7,352 7,363 5,757 5,770
2014 Quarterly comprehensive income ..................................... $146,115 $593,463 $ 68,246 $240,005
The sum of the four quarters may not necessarily be equal to the annual amounts reported in the Consolidated Statements of Operations due to
rounding and the reduction in shares outstanding as a result of the Berkshire exchange transaction that closed on June 30, 2014.
92 GRAHAM HOLDINGS COMPANY