Washington Post 2015 Annual Report Download - page 144

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20. SUMMARY OF QUARTERLY OPERATING RESULTS AND COMPREHENSIVE INCOME
(UNAUDITED)
Quarterly results of operations and comprehensive income for the year ended December 31, 2015, is as follows:
(in thousands, except per share amounts)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Operating Revenues
Education ................................................................ $500,602 $523,625 $ 481,687 $421,491
Advertising .............................................................. 66,454 70,137 68,898 74,435
Other ................................................................... 80,369 87,128 90,847 120,441
647,425 680,890 641,432 616,367
Operating Costs and Expenses
Operating ................................................................ 309,223 311,121 302,029 283,780
Selling, general and administrative ............................................ 302,405 276,412 285,563 239,783
Depreciation of property, plant and equipment ................................... 22,197 25,609 14,460 15,640
Amortization of intangible assets ............................................. 4,738 4,647 4,512 5,120
Impairment of goodwill and other long-lived assets ............................... – 6,876 248,591 4,233
638,563 624,665 855,155 548,556
Income (Loss) from Operations .............................................. 8,862 56,225 (213,723) 67,811
Equity in (losses) earnings of affiliates, net ...................................... (404) (353) 95 (35)
Interest income ........................................................... 559 323 481 546
Interest expense ........................................................... (8,501) (8,348) (7,830) (7,975)
Other (expense) income, net ................................................. (1,105) 11,678 (40,458) 21,262
(Loss) Income from Continuing Operations Before Income Taxes ................. (589) 59,525 (261,435) 81,609
Provision (Benefit) for Income Taxes ......................................... 900 19,600 (30,500) 30,500
(Loss) Income from Continuing Operations .................................... (1,489) 39,925 (230,935) 51,109
Income from Discontinued Operations, Net of Tax .............................. 23,289 18,502 379 –
Net Income (Loss) ......................................................... 21,800 58,427 (230,556) 51,109
Net (Income) Loss Attributable to Noncontrolling Interests ...................... (774) (434) (287) 60
Net Income (Loss) Attributable to Graham Holdings Company ................... 21,026 57,993 (230,843) 51,169
Redeemable Preferred Stock Dividends ....................................... (420) (211) – –
Net Income (Loss) Attributable to Graham Holdings Company Common
Stockholders ............................................................ $ 20,606 $ 57,782 $(230,843) $ 51,169
Amounts Attributable to Graham Holdings Company Common Stockholders
(Loss) income from continuing operations .......................................... $ (2,683) $ 39,280 $(231,222) $ 51,169
Income from discontinued operations, net of tax ..................................... 23,289 18,502 379 –
Net income (loss) attributable to Graham Holdings Company common stockholders ......... $ 20,606 $ 57,782 $(230,843) $ 51,169
Per Share Information Attributable to Graham Holdings Company Common
Stockholders
Basic (loss) income per common share from continuing operations ....................... $ (0.58) $ 6.74 $ (40.32) $ 8.78
Basic income per common share from discontinued operations .......................... 4.09 3.18 0.07 –
Basic net income (loss) per common share .......................................... $ 3.51 $ 9.92 $ (40.25) $ 8.78
Diluted (loss) income per common share from continuing operations ..................... $ (0.58) $ 6.71 $ (40.32) $ 8.72
Diluted income per common share from discontinued operations ........................ 4.06 3.16 0.07 –
Diluted net income (loss) per common share ........................................ $ 3.48 $ 9.87 $ (40.25) $ 8.72
Basic average number of common shares outstanding ................................. 5,704 5,720 5,738 5,746
Diluted average number of common shares outstanding ................................ 5,791 5,805 5,837 5,834
2015 Quarterly comprehensive income ............................................. $ 4,098 $ 56,304 $(235,556) $ (64,301)
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.
129 GRAHAM HOLDINGS COMPANY