Washington Post 2015 Annual Report Download - page 86

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GRAHAM HOLDINGS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31
(in thousands, except per share amounts) 2015 2014 2013
Operating Revenues
Education .................................................. $1,927,405 $2,160,417 $2,163,734
Advertising ................................................. 279,924 308,214 275,024
Other ...................................................... 378,785 268,401 161,844
2,586,114 2,737,032 2,600,602
Operating Costs and Expenses
Operating .................................................. 1,206,153 1,261,753 1,210,863
Selling, general and administrative .............................. 1,104,163 1,132,157 1,123,965
Depreciation of property, plant and equipment ..................... 77,906 74,913 101,171
Amortization of intangible assets ................................ 19,017 18,187 11,919
Impairment of goodwill and other long-lived assets ................. 259,700 17,302 3,250
2,666,939 2,504,312 2,451,168
(Loss) Income from Operations ................................... (80,825) 232,720 149,434
Equity in (losses) earnings of affiliates, net ........................ (697) 100,370 13,215
Interest income .............................................. 1,909 2,136 2,264
Interest expense ............................................. (32,654) (35,533) (35,931)
Other (expense) income, net .................................... (8,623) 778,010 (23,751)
(Loss) Income from Continuing Operations Before Income Taxes ....... (120,890) 1,077,703 105,231
Provision for Income Taxes ....................................... 20,500 312,300 40,500
(Loss) Income from Continuing Operations ......................... (141,390) 765,403 64,731
Income from Discontinued Operations, Net of Tax ................... 42,170 527,857 172,614
Net (Loss) Income ............................................... (99,220) 1,293,260 237,345
Net (Income) Loss Attributable to Noncontrolling Interests ............ (1,435) 583 (480)
Net (Loss) Income Attributable to Graham Holdings Company ......... (100,655) 1,293,843 236,865
Redeemable Preferred Stock Dividends ............................. (631) (847) (855)
Net (Loss) Income Attributable to Graham Holdings Company Common
Stockholders ................................................. $ (101,286) $1,292,996 $ 236,010
Amounts Attributable to Graham Holdings Company Common
Stockholders
(Loss) income from continuing operations ............................ $ (143,456) $ 765,139 $ 63,396
Income from discontinued operations, net of tax ........................ 42,170 527,857 172,614
Net (loss) income attributable to Graham Holdings Company common
stockholders .................................................. $ (101,286) $1,292,996 $ 236,010
Per Share Information Attributable to Graham Holdings Company
Common Stockholders
Basic (loss) income per common share from continuing operations ......... $ (25.23) $ 115.88 $ 8.62
Basic income per common share from discontinued operations ............ 7.36 79.93 23.48
Basic net (loss) income per common share ............................ $ (17.87) $ 195.81 $ 32.10
Basic average number of common shares outstanding ................... 5,727 6,470 7,238
Diluted (loss) income per common share from continuing operations ....... $ (25.23) $ 115.40 $ 8.61
Diluted income per common share from discontinued operations ........... 7.36 79.63 23.44
Diluted net (loss) income per common share ........................... $ (17.87) $ 195.03 $ 32.05
Diluted average number of common shares outstanding .................. 5,727 6,559 7,333
See accompanying Notes to Consolidated Financial Statements.
71 GRAHAM HOLDINGS COMPANY