Washington Post 2014 Annual Report Download - page 109

Quarterly results of operations and comprehensive income for the year ended December 31, 2013, is as follows:
(in thousands, except per share amount) First Quarter Second Quarter Third Quarter(1) Fourth
Quarter
Operating Revenues
Education ........................................................... $524,639 $544,878 $543,599 $550,618
Subscriber .......................................................... 186,790 192,273 190,302 186,297
Advertising .......................................................... 69,122 79,898 73,549 87,692
Other .............................................................. 36,865 50,103 48,651 42,635
817,416 867,152 856,101 867,242
Operating Costs and Expenses
Operating .......................................................... 374,516 392,500 393,010 372,471
Selling, general and administrative ......................................... 333,894 318,731 327,062 331,814
Depreciation of property, plant and equipment ................................ 58,910 56,849 54,672 58,924
Amortization of intangible assets .......................................... 3,362 2,950 2,468 3,359
Impairment of intangibles and other long-lived assets ............................ — — — 3,250
770,682 771,030 777,212 769,818
Income from Operations ............................................... 46,734 96,122 78,889 97,424
Equity in earnings of affiliates, net ......................................... 3,418 3,868 5,892 37
Interest income ....................................................... 510 522 642 590
Interest expense ...................................................... (8,960) (9,048) (9,221) (8,838)
Other (expense) income, net ............................................. (4,083) (12,858) 8,110 (14,920)
Income from Continuing Operations Before Income Taxes ..................... 37,619 78,606 84,312 74,293
Provision for Income Taxes ............................................. 15,800 31,700 29,900 24,100
Income from Continuing Operations ...................................... 21,819 46,906 54,412 50,193
(Loss) Income from Discontinued Operations, Net of Tax ....................... (16,560) (1,772) (23,988) 106,335
Net Income ......................................................... 5,259 45,134 30,424 156,528
Net Income Attributable to Noncontrolling Interests .......................... (97) (253) (75) (55)
Net Income Attributable to Graham Holdings Company ....................... 5,162 44,881 30,349 156,473
Redeemable Preferred Stock Dividends .................................... (444) (206) (205) —
Net Income Attributable to Graham Holdings Company Common Stockholders ..... $ 4,718 $ 44,675 $ 30,144 $156,473
Amounts Attributable to Graham Holdings Company Common Stockholders
Income from continuing operations ......................................... $ 21,278 $ 46,447 $ 54,132 $ 50,138
(Loss) income from discontinued operations, net of tax ........................... (16,560) (1,772) (23,988) 106,335
Net income attributable to Graham Holdings Company common stockholders ......... $ 4,718 $ 44,675 $ 30,144 $156,473
Per Share Information Attributable to Graham Holdings Company Common Stockholders
Basic income per common share from continuing operations ...................... $ 2.87 $ 6.26 $ 7.29 $ 6.79
Basic (loss) income per common share from discontinued operations ................ (2.23) (0.24) (3.22) 14.41
Basic net income per common share ....................................... $ 0.64 $ 6.02 $ 4.07 $ 21.20
Diluted income per common share from continuing operations ..................... $ 2.87 $ 6.26 $ 7.28 $ 6.77
Diluted (loss) income per common share from discontinued operations ............... (2.23) (0.24) (3.23) 14.37
Diluted net income per common share ...................................... $ 0.64 $ 6.02 $ 4.05 $ 21.14
Basic average number of common shares outstanding ........................... 7,227 7,229 7,231 7,266
Diluted average number of common shares outstanding .......................... 7,266 7,283 7,337 7,347
2013 Quarterly comprehensive income ..................................... $ 29,129 $ 61,125 $ 37,533 $555,695
(1) Other revenue and operating expenses of $29.9 million from the third quarter of 2013 have been revised to correctly present revenue on a net basis for certain third
quarter contracts that were previously reported on a gross basis. The amounts did not impact net income, and the Company concluded that the amounts were not
material to the Company’s consolidated financial statements.
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.
2014 FORM 10-K 93