Washington Post 2014 Annual Report Download - page 111

Download and view the complete annual report

Please find page 111 of the 2014 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 116

  • 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
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

GRAHAM HOLDINGS COMPANY
FIVE-YEAR SUMMARY OF SELECTED HISTORICAL FINANCIAL DATA
See Notes to Consolidated Financial Statements for the summary of significant accounting policies and additional information
relative to the years 2012–2014 and refer to Note 3 for discussion of discontinued operations.
(in thousands, except per share amounts) 2014 2013 2012 2011 2010
Results of Operations
Operating revenues ...................... $3,535,166 $3,407,911 $3,372,586 $3,453,127 $3,861,300
Income from operations ................... 407,932 319,169 148,613 314,274 581,867
Income from continuing operations ........... 921,011 173,330 51,292 137,845 341,623
Net income attributable to Graham Holdings
Company common stockholders ........... 1,292,996 236,010 131,218 116,233 277,192
Per Share Amounts
Basic earnings per common share attributable to
Graham Holdings Company common
stockholders
Income from continuing operations ........ $ 139.44 $ 23.39 $ 6.40 $ 17.32 $ 38.18
Net income ........................ 195.81 32.10 17.39 14.70 31.06
Diluted earnings per common share attributable to
Graham Holdings Company common
stockholders
Income from continuing operations ........ $ 138.88 $ 23.36 $ 6.40 $ 17.32 $ 38.16
Net income ........................ 195.03 32.05 17.39 14.70 31.04
Weighted average shares outstanding:
Basic ............................... 6,470 7,238 7,360 7,826 8,869
Diluted .............................. 6,559 7,333 7,404 7,905 8,931
Cash dividends per common share ........... $ 10.20 $ — $ 19.60 $ 9.40 $ 9.00
Graham Holdings Company common
stockholders’ equity per common share ...... $ 541.54 $ 446.73 $ 348.17 $ 342.76 $ 343.47
Financial Position
Working capital ........................ $ 639,911 $ 768,278 $ 327,476 $ 250,069 $ 353,621
Total assets ............................ 5,752,319 5,811,046 5,015,069 5,016,986 5,158,637
Long-term debt .......................... 399,545 447,608 453,384 452,229 396,650
Graham Holdings Company common
stockholders’ equity .................... 3,140,299 3,300,067 2,586,028 2,601,896 2,814,364
Impact from certain items included in income from continuing operations (after-tax and diluted EPS amounts):
2014
• charges of $20.2 million ($3.05 per share) related to early retirement program expense and related charges, restructuring charges and
software asset write-offs at the education division and corporate office
• intangible and other long-lived assets impairment charge of $11.2 million ($1.69 per share) at the education division and other business
• gain from the sale of Classified Ventures of $249.8 million ($37.68 per share)
• $58.2 million ($8.78 per share) gain from the Classified Ventures’ sale of apartments.com
• gain from the Berkshire exchange transaction of $266.7 million ($40.23 per share)
• $81.8 million ($12.34 per share) gain on the sale of the corporate headquarters building
• gain from the sale of wireless licenses of $48.2 million ($7.27 per share) at the cable division
• losses, net, of $7.1 million ($1.08 per share) from non-operating unrealized foreign currency losses
2013
• charges of $25.3 million ($3.46 per share) related to severance and restructuring at the education division
• intangible assets impairment charge of $3.2 million ($0.44 per share) at the education division
• write-down of a marketable equity security of $6.7 million ($0.91 per share)
• losses, net, of $8.6 million ($1.17 per share) from non-operating unrealized foreign currency losses
2012
• goodwill and other long-lived assets impairment charge of $81.9 million ($11.33 per share) at KTP
• charges of $32.9 million ($4.53 per share) related to severance and restructuring at the education division
• write-down of a marketable equity security of $11.2 million ($1.54 per share)
• $3.7 million ($0.48 per share) gain on sale of cost method investment
• gains, net, of $2.0 million ($0.27 per share) from non-operating unrealized foreign currency gains
2011
• charges of $17.9 million ($2.26 per share) related to severance and restructuring at the education division
• impairment charge at one of the Company’s affiliates of $5.7 million ($0.72 per share)
• write-down of a marketable equity security of $34.6 million ($4.34 per share)
• losses, net, of $2.1 million ($0.26 per share) from non-operating unrealized foreign currency losses
2010
• charges of $24.2 million ($2.83 per share) related to severance and restructuring
• gains, net, of $4.2 million ($0.47 per share) from non-operating unrealized foreign currency gains
2014 FORM 10-K 95