10-Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

x     Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Quarterly Period Ended March 31, 2012

or

     Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number 1-6714

THE WASHINGTON POST COMPANY

(Exact name of registrant as specified in its charter)

Delaware	53-0182885
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1150 15th Street, N.W. Washington, D.C.	20071
(Address of principal executive offices)	(Zip Code)

(202) 334-6000

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes  x.    No  ¨.  

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x.    No  ¨.  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer,” accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer x Accelerated filer ¨ Non-accelerated filer ¨ Smaller Reporting Company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨.    No  x.  

Shares outstanding at May 4, 2012:

                                                    Class A Common Stock – 1,229,383 Shares

                                                    Class B Common Stock – 6,389,451 Shares

THE WASHINGTON POST COMPANY

Index to Form 10-Q

PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements
	a.     Condensed Consolidated Statements of Operations (Unaudited) for the Three months Ended March 31, 2012 and April 3, 2011	1
	b.     Condensed Consolidated Statements of Comprehensive Income (Unaudited) for the Three Months Ended March 31, 2012 and April 3, 2011	2
	c.      Condensed Consolidated Balance Sheets at March 31, 2012 (Unaudited) and December 31, 2011	3
	d.     Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2012 and April 3, 2011	4
	e.     Notes to Condensed Consolidated Financial Statements (Unaudited)	5
Item 2.	Management’s Discussion and Analysis of Results of Operations and Financial Condition	18
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	25
Item 4.	Controls and Procedures	26
PART II. OTHER INFORMATION
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	26
Item 6.	Exhibits	27
Signatures		28

PART I. FINANCIAL INFORMATION

Item  1.       Financial Statements

THE WASHINGTON POST COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
		Three Months Ended
		March 31,		April 3,
(in thousands, except per share amounts)		2012		2011
Operating Revenues
	Education	$	553,401	$	618,929
	Advertising		170,750		177,385
	Circulation and Subscriber		215,230		214,523
	Other		33,095		31,075
			972,476		1,041,912
Operating Costs and Expenses
	Operating		471,199		476,081
	Selling, general and administrative		417,370		441,366
	Depreciation of property, plant and equipment		62,501		62,196
	Amortization of intangible assets		3,937		5,716
			955,007		985,359
Income from Operations			17,469		56,553
	Equity in earnings of affiliates, net		3,888		3,737
	Interest income		1,069		982
	Interest expense		(9,163)		(7,961)
	Other income (expense), net		8,588		(24,032)
Income from Continuing Operations Before Income Taxes			21,851		29,279
Provision for Income Taxes			10,500		10,900
Income from Continuing Operations			11,351		18,379
Income (Loss) from Discontinued Operations, Net of Tax			20,217		(2,750)
Net Income			31,568		15,629
Net Income Attributable to Noncontrolling Interests			(70)		(14)
Net Income Attributable to The Washington Post Company			31,498		15,615
Redeemable Preferred Stock Dividends			(451)		(461)
Net Income Attributable to The Washington Post Company Common Stockholders		$	31,047	$	15,154
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations		$	10,830	$	17,904
Income (loss) from discontinued operations, net of tax			20,217		(2,750)
Net Income attributable to The Washington Post Company common stockholders		$	31,047	$	15,154
Per Share Information Attributable to The Washington Post Company
	Common Stockholders
Basic income per common share from continuing operations		$	1.37	$	2.21
Basic income (loss) per common share from discontinued operations			2.70		(0.34)
Basic net income per common share		$	4.07	$	1.87
Basic average number of common shares outstanding			7,514		8,046
Diluted income per common share from continuing operations		$	1.37	$	2.21
Diluted income (loss) per common share from discontinued operations			2.70		(0.34)
Diluted net income per common share		$	4.07	$	1.87
Diluted average number of common shares outstanding			7,615		8,119
See accompanying Notes to Condensed Consolidated Financial Statements.

1

THE WASHINGTON POST COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)
			Three Months Ended
			March 31,		April 3,
(In thousands)			2012		2011
Net Income			$	31,568	$	15,629
Other Comprehensive Income (Loss), Before Tax
	Foreign currency translation adjustments:
		Translation adjustments arising during the period		7,823		7,970
		Adjustment for sale of a business with foreign operations		513		―
				8,336		7,970
	Unrealized gains on available-for-sale securities:
		Unrealized gains for the period		32,315		7,210
		Reclassification adjustment for write-down on available-for-sale security included in net income		―		30,696
				32,315		37,906
	Pension and other postretirement plans:
		Amortization of net prior service credit included in net income		(451)		(467)
		Amortization of net actuarial loss (gain) included in net income		1,657		(127)
		Foreign affiliate pension adjustments		―		(4,613)
				1,206		(5,207)
	Cash flow hedge, net change			(35)		―
Other Comprehensive Income, Before Tax				41,822		40,669
	Income tax expense related to items of other comprehensive income			(13,393)		(15,369)
Other Comprehensive Income, Net of Tax				28,429		25,300
Comprehensive Income				59,997		40,929
	Comprehensive income attributable to noncontrolling interests			(90)		(35)
Total Comprehensive Income Attributable to The Washington Post Company			$	59,907	$	40,894
See accompanying Notes to Consolidated Financial Statements.

2

THE WASHINGTON POST COMPANY
CONDENSED CONSOLIDATED BALANCE SHEETS
				March 31,		December 31,
(In thousands)				2012		2011
				(Unaudited)
Assets
Current Assets
	Cash and cash equivalents			$	294,991	$	381,099
	Restricted cash				23,401		25,287
	Investments in marketable equity securities and other investments				402,806		338,674
	Accounts receivable, net				359,099		392,725
	Income taxes receivable				4,815		16,990
	Deferred income taxes				1,143		13,343
	Inventories				4,555		6,571
	Other current assets				75,578		70,936
	Current assets of discontinued operations				7,171		―
		Total Current Assets			1,173,559		1,245,625
Property, Plant and Equipment, Net					1,129,131		1,152,390
Investments in Affiliates					19,329		17,101
Goodwill, Net					1,404,783		1,414,997
Indefinite-Lived Intangible Assets, Net					530,753		530,641
Amortized Intangible Assets, Net					52,737		54,622
Prepaid Pension Cost					536,521		537,262
Deferred Charges and Other Assets					59,004		64,348
Noncurrent Assets of Discontinued Operations					34,006		―
		Total Assets		$	4,939,823	$	5,016,986
Liabilities and Equity
Current Liabilities
	Accounts payable and accrued liabilities			$	492,880	$	495,041
	Deferred revenue				380,811		387,532
	Dividends declared				18,883		―
	Short-term borrowings				3,250		112,983
	Current liabilities of discontinued operations				16,348		―
		Total Current Liabilities			912,172		995,556
Postretirement Benefits Other Than Pensions					68,749		67,864
Accrued Compensation and Related Benefits					222,416		228,304
Other Liabilities					112,655		107,741
Deferred Income Taxes					525,503		545,361
Long-Term Debt					453,128		452,229
Noncurrent Liabilities of Discontinued Operations					470		―
		Total Liabilities			2,295,093		2,397,055
Redeemable Noncontrolling Interest					6,810		6,740
Redeemable Preferred Stock					11,096		11,295
Preferred Stock					―		―
Common Stockholders’ Equity
	Common stock				20,000		20,000
	Capital in excess of par value				250,469		252,767
	Retained earnings				4,555,716		4,561,989
	Accumulated other comprehensive income, net of tax
		Cumulative foreign currency translation adjustment			29,674		21,338
		Unrealized gain on available-for-sale securities			99,748		80,358
		Unrealized gain on pensions and other postretirement plans			64,348		63,625
		Cash flow hedge			(12)		8
	Cost of Class B common stock held in treasury				(2,393,119)		(2,398,189)
		Total Equity			2,626,824		2,601,896
			Total Liabilities and Equity	$	4,939,823	$	5,016,986
See accompanying Notes to Condensed Consolidated Financial Statements.

3

THE WASHINGTON POST COMPANY
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
			Three Months Ended
			March 31,		April 3,
(In thousands)			2012		2011
Cash Flows from Operating Activities:
Net Income			$	31,568	$	15,629
Adjustments to reconcile net income to net cash provided by operating activities:
	Depreciation of property, plant and equipment			63,254		63,914
	Amortization of intangible assets			4,278		6,808
	Net pension expense (benefit)			2,192		(289)
	Early retirement program expense			1,022		430
	Foreign exchange gain			(2,660)		(2,701)
	Net loss on sale of a business			3,082		―
	Net loss on write-down of marketable equity securities			―		30,696
	Equity in earnings of affiliates, net of distributions			(3,691)		(3,737)
	Benefit for deferred income taxes			(23,744)		(3,701)
	Net gain on sale or write-down of property, plant and equipment and other assets			(7,203)		(2,021)
	Change in assets and liabilities:
		Decrease in accounts receivable, net		36,716		54,448
		Decrease in inventories		2,016		604
		Decrease in accounts payable and accrued liabilities		(22,828)		(90,460)
		Increase in deferred revenue		3,647		11,127
		Decrease in income taxes receivable		11,019		3,521
		Increase in other assets and other liabilities, net		(14,817)		(35,041)
	Other			165		132
		Net Cash Provided by Operating Activities		84,016		49,359
Cash Flows from Investing Activities:
	Purchases of property, plant and equipment			(44,875)		(39,275)
	Purchase of marketable equity securities and other investments			(23,003)		―
	Investments in certain businesses, net of cash acquired			(2,545)		(9,673)
	Proceeds from sale of property, plant and equipment and other assets			5,827		3,867
	Net proceeds from sale of business			1,875		―
	Other			1,571		269
		Net Cash Used in Investing Activities		(61,150)		(44,812)
Cash Flows from Financing Activities:
	Repayment of commercial paper, net			(109,671)		―
	Dividends paid			(18,889)		(19,390)
	Common shares repurchased			(136)		(121,395)
	Other			16,459		25,247
		Net Cash Used in Financing Activities		(112,237)		(115,538)
Effect of Currency Exchange Rate Change				3,263		2,421
Net Decrease in Cash and Cash Equivalents				(86,108)		(108,570)
Beginning Cash and Cash Equivalents				381,099		437,740
Ending Cash and Cash Equivalents			$	294,991	$	329,170
See accompanying Notes to Condensed Consolidated Financial Statements.

4

THE WASHINGTON POST COMPANY

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(UNAUDITED)

1. ORGANIZATION, BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS

The Washington Post Company, Inc. (the Company) is a diversified education and media company. The Company’s Kaplan subsidiary provides a wide variety of educational services, both domestically and outside the United States. The Company’s media operations consist of the ownership and operation of cable television systems, newspaper publishing (principally The Washington Post), and television broadcasting (through the ownership and operation of six television broadcast stations).

Financial Periods – In the fourth quarter of 2011, the Company changed its fiscal quarter from a thirteen week quarter ending on the Sunday nearest the calendar quarter-end to a quarterly month end. The fiscal quarters for 2012 and 2011 ended on March 31, 2012 and April 3, 2011, respectively. Subsidiaries of the Company report on a calendar-quarter basis, with the exception of most of the newspaper publishing operations, which report on a thirteen week quarter ending on the Sunday nearest the calendar quarter-end.

Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows as of and for the periods presented herein. The Company’s results of operations for the quarterly periods ended March 31, 2012 and April 3, 2011 may not be indicative of the Company’s future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.

Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain Kaplan businesses as discontinued operations for all periods presented.

Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates.

Assets Held for Sale – An asset or business is classified as held for sale when (i) management commits to a plan to sell the asset or business; (ii) the asset or business is available for immediate sale in its present condition; (iii) the asset or business is actively marketed for sale at a reasonable price; (iv) the sale is expected to be completed within one year; and (v) it is unlikely significant changes to the plan will be made or that the plan will be withdrawn. The assets and related liabilities are aggregated and reported separately in the Company’s condensed consolidated balance sheet.

Recently Adopted and Issued Accounting Pronouncements – In June 2011, the Financial Accounting Standards Board (“FASB”) issued an amended standard to increase the prominence of items reported in other comprehensive income. The amendment eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity and requires that all changes in stockholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. In addition, the amendment requires companies to present on the face of the financial statements reclassification adjustments for items

5

that are reclassified from other comprehensive income to net income in the statement(s) where the components of net income and the components of other comprehensive income are presented. The amendment does not affect how earnings per share is calculated or presented. This amendment is effective for interim and fiscal years beginning after December 15, 2011 and must be applied retrospectively. In December 2011, the FASB deferred the requirements related to the presentation of reclassification adjustments until further deliberations have taken place. Entities should continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect prior to the issuance of the June 2011 amended standard. The adoption of the amendment not deferred by the FASB in the first quarter of 2012 is reflected in the Company’s Condensed Consolidated Statements of Comprehensive Income.

2. DISCONTINUED OPERATIONS

In February 2012, Kaplan completed the stock sale of Kaplan Learning Technologies (KLT) and recorded an after-tax loss on the sale of $1.9 million, which is included in Income (loss) from discontinued operations, net of tax in the Company’s condensed consolidated statement of operations for the three months ended March 31, 2012.

In April 2012, the Company completed the sale of Kaplan EduNeering. Under the terms of the agreement, the purchaser acquired the stock of EduNeering and received substantially all the assets and liabilities. In the second quarter of 2012, the Company will record an estimated pre-tax gain of $30 million and an estimated after-tax gain of $19 million related to this sale, subject to net working capital adjustments. The assets and liabilities of EduNeering have been classified on the Company’s condensed consolidated balance sheet as assets and liabilities of discontinued operations as of March 31, 2012. The Company did not reclassify its condensed consolidated balance sheet as of December 31, 2011 to reflect discontinued operations.

The Company recorded $23.2 million of income tax benefits in the first quarter of 2012 in connection with each of the sale of its stock in EduNeering and KLT related to the excess of the outside stock tax basis over the net book value of the net assets disposed. The Company recorded the tax benefit related to the sale of EduNeering in the first quarter of 2012 as the sale makes it apparent that the temporary difference will reverse in the foreseeable future, consistent with FASB Accounting Standards Codification Section 740-30-25-10.

In October 2011, Kaplan completed the sale of Kaplan Compliance Solutions (KCS) and in July 2011, Kaplan completed the sale of Kaplan Virtual Education (KVE). The results of operations of EduNeering, KLT, KCS and KVE, for the first quarter of 2012 and 2011, where applicable, are included in the Company’s condensed consolidated statements of operations as Income (loss) from discontinued operations, net of tax. All corresponding prior period operating results presented in the Company’s condensed consolidated financial statements and the accompanying notes have been reclassified to reflect the discontinued operations presented. The Company did not reclassify its condensed consolidated statements of cash flows to reflect the discontinued operations.

The summarized income (loss) from discontinued operations, net of tax, for the first quarter of 2012 and 2011 is presented below:

	March 31,		April 3,
(in thousands)	2012		2011
Operating revenues	$	6,791	$	21,700
Operating costs and expenses		(7,135)		(26,250)
Loss from discontinued operations		(344)		(4,550)
Benefit from income taxes		(22,500)		(1,800)
Net Income (Loss) from Discontinued Operations		22,156		(2,750)
Loss on sale of discontinued operations		(3,082)		―
Benefit from income taxes on sale of discontinued operations		(1,143)		―
Income (Loss) from Discontinued Operations, Net of Tax	$	20,217	$	(2,750)

6

The following table summarizes the 2011 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations:

		April 3,		July 3,		October 2,		December 31,
(in thousands, except per share amounts)		2011		2011		2011		2011
Operating Revenues
	Education	$	618,929	$	616,962	$	608,256	$	587,775
	Advertising		177,385		193,352		170,552		213,255
	Circulation and subscriber		214,523		216,606		212,145		213,183
	Other		31,075		34,338		34,059		39,312
			1,041,912		1,061,258		1,025,012		1,053,525
Operating Costs and Expenses
	Operating		476,081		500,766		499,111		477,027
	Selling, general and administrative		441,366		409,173		391,269		400,842
	Depreciation of property, plant and equipment		62,196		62,882		61,840		63,211
	Amortization of intangible assets		5,716		6,338		8,187		6,397
	Impairment of goodwill		―		―		11,923		―
			985,359		979,159		972,330		947,477
Income from Operations			56,553		82,099		52,682		106,048
	Equity in earnings (losses) of affiliates, net		3,737		3,138		(1,494)		568
	Interest income		982		997		994		1,174
	Interest expense		(7,961)		(7,960)		(8,667)		(8,638)
	Other (expense) income, net		(24,032)		(2,591)		(29,650)		1,073
Income from Continuing Operations before Income Taxes			29,279		75,683		13,865		100,225
Provision for Income Taxes			10,900		27,900		16,800		41,000
Income (Loss) from Continuing Operations			18,379		47,783		(2,935)		59,225
(Loss) Income from Discontinued Operations, Net of Tax			(2,750)		(2,020)		(3,031)		2,506
Net Income (Loss)			15,629		45,763		(5,966)		61,731
Net (Income) Loss Attributable to Noncontrolling Interests			(14)		40		(16)		(17)
Net Income (Loss) Attributable to The Washington Post Company			15,615		45,803		(5,982)		61,714
Redeemable Preferred Stock Dividends			(461)		(230)		(226)		―
Net Income (Loss) Attributable to The Washington Post Company
	Common Stockholders	$	15,154	$	45,573	$	(6,208)	$	61,714
Amounts Attributable to The Washington Post Company
	Common Stockholders
Income (loss) from continuing operations		$	17,904	$	47,593	$	(3,177)	$	59,208
(Loss) income from discontinued operations, net of tax			(2,750)		(2,020)		(3,031)		2,506
Net income (loss) attributable to the Washington Post
	Company common stockholders	$	15,154	$	45,573	$	(6,208)	$	61,714
Per Share Information Attributable to The Washington Post
	Company Common Stockholders
Basic income (loss) per common share from continuing operations		$	2.21	$	6.00	$	(0.43)	$	7.70
Basic (loss) income per common share from discontinued operations			(0.34)		(0.26)		(0.39)		0.33
Basic net income (loss) per common share		$	1.87	$	5.74	$	(0.82)	$	8.03
Diluted income (loss) per common share from continuing operations		$	2.21	$	6.00	$	(0.43)	$	7.70
Diluted (loss) income per common share from discontinued operations			(0.34)		(0.26)		(0.39)		0.33
Diluted net income (loss) per common share		$	1.87	$	5.74	$	(0.82)	$	8.03

7

The following table summarizes the operating results of the Company for fiscal year 2011 and 2010, following the reclassification of operations discussed above as discontinued operations:

		Fiscal Year Ended
		December 31,		January 2,
(in thousands, except per share amounts)		2011		2011
Operating Revenues
	Education	$	2,431,922	$	2,830,187
	Advertising		754,544		833,605
	Circulation and subscriber		856,457		857,290
	Other		138,784		130,867
			4,181,707		4,651,949
Operating Costs and Expenses
	Operating		1,952,985		1,911,564
	Selling, general and administrative		1,642,650		1,877,455
	Depreciation of property, plant and equipment		250,129		243,572
	Amortization of intangible assets		26,638		24,615
	Impairment of goodwill and other intangible assets		11,923		27,477
			3,884,325		4,084,683
Income from Operations			297,382		567,266
	Equity in earnings (losses) of affiliates, net		5,949		(4,133)
	Interest income		4,147		2,576
	Interest expense		(33,226)		(30,503)
	Other (expense) income, net		(55,200)		7,515
Income from Continuing Operations Before Income Taxes			219,052		542,721
Provision for Income Taxes			96,600		219,500
Income from Continuing Operations			122,452		323,221
Loss from Discontinued Operations, Net of Tax			(5,295)		(45,201)
Net Income			117,157		278,020
Net (Income) Loss attributable to noncontrolling interests			(7)		94
Net Income Attributable to The Washington Post Company			117,150		278,114
Redeemable Preferred Stock Dividends			(917)		(922)
Net Income Attributable to The Washington Post Company Common Stockholders		$	116,233	$	277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations		$	121,528	$	322,393
Loss from discontinued operations, net of tax			(5,295)		(45,201)
Net income attributable to the Washington Post Company common stockholders		$	116,233	$	277,192
Per Share Information Attributable to The Washington Post Company Common
	Stockholders
Basic income per common share from continuing operations		$	15.37	$	36.12
Basic loss per common share from discontinued operations			(0.67)		(5.06)
Basic net income per common share		$	14.70	$	31.06
Diluted income per common share from continuing operations		$	15.37	$	36.10
Diluted loss per common share from discontinued operations			(0.67)		(5.06)
Diluted net income per common share		$	14.70	$	31.04

3. INVESTMENTS

Investments in marketable equity securities at March 31, 2012 and December 31, 2011 comprised the following:

	March 31,		December 31,
(in thousands)	2012		2011
Total cost	$	199,277	$	169,271
Net unrealized gains		166,246		133,930
Total Fair Value	$	365,523	$	303,201

The Company made $30.0 million in investments in marketable equity securities during the first quarter of 2012, of which $7.7 million was settled in April 2012, after the first quarter balance sheet date. There were no new investments in marketable equity securities during the first quarter of 2011. There were no sales of marketable equity securities in the first quarter of 2012 and 2011.

At the end of the first quarter of 2011, the Company’s investment in Corinthian Colleges, Inc. had been in an unrealized loss position for over six months. The Company evaluated this investment for other-than-temporary impairment based on

8

various factors, including the duration and severity of the unrealized loss, the reason for the decline in value and the potential recovery period, and the Company’s ability and intent to hold the investment. In the first quarter of 2011, the Company concluded the loss was other-than-temporary and recorded a $30.7 million write-down on the investment. The investment continued to decline and in the third quarter of 2011, the Company recorded another $23.1 million write-down on the investment. The Company’s investment in Corinthian Colleges, Inc. accounted for $32.0 million of the total fair value of the Company’s investments in marketable equity securities at March 31, 2012.

4. ACQUISITIONS AND DISPOSITIONS

In the first quarter of 2012, Kaplan acquired two small businesses in its International division; the purchase price allocation mostly comprised goodwill and other intangible assets on a preliminary basis. In the first quarter of 2011, Kaplan made one small acquisition in its Kaplan Ventures division. The assets and liabilities of the companies acquired have been recorded at their estimated fair values at the date of acquisition.

Kaplan completed the sales of Kaplan Learning Technologies in February 2012 and EduNeering in April 2012, which were part of the Kaplan Ventures division.

 5. GOODWILL AND OTHER INTANGIBLE ASSETS

Amortization of intangible assets for the three months ended March 31, 2012 and April 3, 2011 was $4.3 million and $6.8 million, respectively. Amortization of intangible assets is estimated to be approximately $13 million for the remainder of 2012, $13 million in 2013, $8 million in 2014, $7 million in 2015, $6 million in 2016, $3 million in 2017 and $3 million thereafter.

The changes in the carrying amount of goodwill, by segment, for the three months ended March 31, 2012 were as follows:

				Cable		Newspaper		Television		Other
(in thousands)		Education		Television		Publishing		Broadcasting		Businesses		Total
Balance as of December 31, 2011
	Goodwill	$	1,116,615	$	85,488	$	81,183	$	203,165	$	100,152	$	1,586,603
	Accumulated impairment losses		(8,492)		―		(65,772)		―		(97,342)		(171,606)
			1,108,123		85,488		15,411		203,165		2,810		1,414,997
Acquisitions			5,143		―		―		―		―		5,143
Dispositions			(4,660)		―		―		―		―		(4,660)
Reclassification to discontinued operations			(22,713)		―		―		―		―		(22,713)
Foreign currency exchange rate changes and other			12,016		―		―		―		―		12,016
Balance as of March 31, 2012
	Goodwill		1,097,909		85,488		81,183		203,165		100,152		1,567,897
	Accumulated impairment losses		―		―		(65,772)		―		(97,342)		(163,114)
		$	1,097,909	$	85,488	$	15,411	$	203,165	$	2,810	$	1,404,783

The changes in carrying amount of goodwill at the Company’s education division for the three months ended March 31, 2012 were as follows:

		Higher		Test		Kaplan		Kaplan
(in thousands)		Education		Preparation		International		Ventures		Total
Balance as of December 31, 2011
	Goodwill	$	409,128	$	152,187	$	515,936	$	39,364	$	1,116,615
	Accumulated impairment losses		―		―		―		(8,492)		(8,492)
			409,128		152,187		515,936		30,872		1,108,123
Acquisitions			―		―		5,143		―		5,143
Dispositions			―		―		―		(4,660)		(4,660)
Reclassification to discontinued operations			―		―		―		(22,713)		(22,713)
Foreign currency exchange rate changes and other			55		―		10,791		1,170		12,016
Balance as of March 31, 2012
	Goodwill		409,183		152,187		531,870		4,669		1,097,909
	Accumulated impairment losses		―		―		―		―		―
		$	409,183	$	152,187	$	531,870	$	4,669	$	1,097,909

9

Other intangible assets consist of the following:

			As of March 31, 2012						As of December 31, 2011
			Gross				Net		Gross				Net
		Useful Life	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(in thousands)		Range	Amount		Amortization		Amount		Amount		Amortization		Amount
Amortized Intangible Assets
	Non-compete agreements	2-5 years	$	14,362	$	11,165	$	3,197	$	14,493	$	10,764	$	3,729
	Student and customer relationships	2-10 years		63,851		36,100		27,751		75,734		47,888		27,846
	Databases and technology	3-5 years		10,514		8,591		1,923		10,514		8,159		2,355
	Trade names and trademarks	2-10 years		32,564		15,778		16,786		36,222		18,936		17,286
	Other	1-25 years		9,604		6,524		3,080		9,971		6,565		3,406
			$	130,895	$	78,158	$	52,737	$	146,934	$	92,312	$	54,622
Indefinite-Lived Intangible Assets
	Franchise agreements		$	496,321					$	496,321
	Wireless licenses			22,150						22,150
	Licensure and accreditation			7,862						7,862
	Other			4,420						4,308
			$	530,753					$	530,641

6. DEBT

The Company’s borrowings consist of the following:

	March 31,		December 31,
(in thousands)	2012		2011
7.25% unsecured notes due February 1, 2019	$	397,168	$	397,065
Commercial paper borrowings		―		109,671
AUD 50M borrowing		51,717		51,012
Other indebtedness		7,493		7,464
Total Debt		456,378		565,212
Less: current portion		(3,250)		(112,983)
Total Long-Term Debt	$	453,128	$	452,229

The Company’s other indebtedness at March 31, 2012 and December 31, 2011 is at interest rates from 0% to 6% and matures from 2012 to 2016.

During the first quarter of 2012 and 2011, the Company had average borrowings outstanding of approximately $484.5 million and $399.7 million, respectively, at average annual interest rates of approximately 7.0% and 7.2%. During the first quarter of 2012 and 2011, the Company incurred net interest expense of $8.1 million and $7.0 million, respectively.

At March 31, 2012, the fair value of the Company’s 7.25% unsecured notes, based on quoted market prices, totaled $465.3 million, compared with the carrying amount of $397.2 million. At December 31, 2011, the fair value of the Company’s 7.25% unsecured notes, based on quoted market prices, totaled $460.5 million, compared with the carrying amount of $397.1 million. The carrying value of the Company’s other unsecured debt at March 31, 2012 approximates fair value.

10

 7. EARNINGS PER SHARE

The Company’s earnings per share from continuing operations (basic and diluted) for the first quarter of 2012 and 2011 are presented below:

			Three Months Ended
			March 31,		April 3,
(in thousands, except per share amounts)			2012		2011
Income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,830	$	17,904
Less: Amount attributable to participating securities				(501)		(162)
Basic income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,329	$	17,742
Plus: Amount attributable to participating securities				501		162
Diluted income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,830	$	17,904
Basic weighted average shares outstanding				7,514		8,046
Plus: Effect of dilutive shares related to stock options and restricted stock				101		73
Diluted weighted average shares outstanding				7,615		8,119
Income Per Share from Continuing Operations Attributable to The Washington Post Company
	Common Stockholders:
		Basic	$	1.37	$	2.21
		Diluted	$	1.37	$	2.21

For the first quarter of 2012, the basic earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the if-converted method for participating securities, resulting in the presentation of the lower amount in diluted earnings per share. The first quarter of 2012 and 2011 diluted earnings per share amounts exclude the effects of 115,294 and 79,850 stock options outstanding, respectively, as their inclusion would be antidilutive.

In the first quarter of 2012 and 2011, the Company declared regular dividends totaling $4.90 and $4.70 per share, respectively.

8. PENSION AND POSTRETIREMENT PLANS

Defined Benefit Plans. The total cost arising from the Company’s defined benefit pension plans for the first quarter of 2012 and 2011, consists of the following components:

					Supplemental Executive
	Pension Plans				Retirement Plan
	March 31,		April 3,		March 31,		April 3,
(in thousands)	2012		2011		2012		2011
Service cost	$	9,107	$	7,214	$	367	$	380
Interest cost		14,591		15,105		1,060		1,084
Expected return on assets		(24,012)		(23,489)		―		―
Amortization of prior service cost		937		881		14		65
Recognized actuarial loss		1,569		―		458		353
Net Periodic Cost (Benefit)		2,192		(289)		1,899		1,882
Early retirement program expense		1,022		430		―		―
Total Cost	$	3,214	$	141	$	1,899	$	1,882

In the first quarter of 2012, the Company offered a Voluntary Retirement Incentive Program to certain employees of Post-Newsweek Media and recorded early retirement program expense of $1.0 million. In the first quarter of 2011, the Company offered a Voluntary Retirement Incentive Program to certain employees of Robinson Terminal Warehouse and recorded early retirement program expense of $0.4 million. The early retirement program expense for these programs is funded from the assets of the Company’s pension plans.

11

Defined Benefit Plan Assets. The Company’s defined benefit pension obligations are funded by a portfolio made up of a relatively small number of stocks and high-quality fixed-income securities that are held by a third-party trustee. As of March 31, 2012 and December 31, 2011, the assets of the Company’s pension plans were allocated as follows:

	March 31,			December 31,
	2012			2011
U.S. equities		69	%		69	%
U.S. fixed income		10	%		10	%
International equities		21	%		21	%
		100	%		100	%

Essentially all of the assets are actively managed by two investment companies. The goal of the investment managers is to produce moderate long-term growth in the value of these assets, while protecting them against large decreases in value. Both of these managers may invest in a combination of equity and fixed-income securities and cash. The managers are not permitted to invest in securities of the Company or in alternative investments. The investment managers cannot invest more than 20% of the assets at the time of purchase in the stock of Berkshire Hathaway or more than 10% of the assets in the securities of any other single issuer, except for obligations of the U.S. Government, without receiving prior approval by the Plan administrator. As of March 31, 2012, the managers can invest no more than 24% of the assets in international stocks at the time the investment is made, and no less than 10% of the assets could be invested in fixed-income securities. None of the assets is managed internally by the Company.

In determining the expected rate of return on plan assets, the Company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the Company may consult with and consider the input of financial and other professionals in developing appropriate return benchmarks.

The Company evaluated its defined benefit pension plan asset portfolio for the existence of significant concentrations (defined as greater than 10% of plan assets) of credit risk as of March 31, 2012. Types of concentrations that were evaluated include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country and individual fund. At March 31, 2012 the Company held common stock in one investment which exceeded 10% of total plan assets. This investment was valued at $237.5 million and $222.4 million at March 31, 2012 and December 31, 2011, respectively, or approximately 12% of total plan assets at these respective dates. Assets also included $163.6 million and $154.0 million of Berkshire Hathaway common stock at March 31, 2012 and December 31, 2011, respectively. At March 31, 2012 the Company held investments in one foreign country which exceeded 10% of total plan assets. These investments were valued at $257.3 million and $241.4 million at March 31, 2012 and December 31, 2011, respectively, or approximately 13% of total plan assets at these respective dates.

Other Postretirement Plans. The total benefit arising from the Company’s postretirement plans for the first quarter of  2012 and 2011, consists of the following components:

	March 31,		April 3,
(in thousands)	2012		2011
Service cost	$	778	$	718
Interest cost		684		766
Amortization of prior service credit		(1,402)		(1,413)
Recognized actuarial gain		(370)		(480)
Total Periodic Benefit	$	(310)	$	(409)

9. OTHER NON-OPERATING INCOME (EXPENSE)

A summary of non-operating income (expense) for the three months ended March 31, 2012 and April 3, 2011, is as follows:

		March 31,		April 3,
(in thousands)		2012		2011
Gain on sale of cost method investments		$	5,817	$	3,832
Foreign currency gains, net			2,660		2,701
Impairment write-down on a marketable equity security			―		(30,696)
Other, net			111		131
	Total Other Non-Operating Income (Expense)	$	8,588	$	(24,032)

12

10. CONTINGENCIES

Litigation and Legal Matters. The Company is involved in various legal proceedings that arise in the ordinary course of its business. Although the outcome of the legal claims and proceedings against the Company cannot be predicted with certainty, based on currently available information, management believes that there are no existing claims or proceedings that are likely to have a material effect on the Company's business, financial condition, results of operations or cash flows. Also, based on currently available information, management is of the opinion that the exposure to future material losses from existing legal proceedings is not reasonably possible, or that future material losses in excess of the amounts accrued are not reasonably possible.

A purported class action complaint was filed against the Company, Donald E. Graham and Hal S. Jones on October 28, 2010, in the U.S. District Court for the District of Columbia, by the Plumbers Local #200 Pension Fund. The complaint alleged that the Company and certain of its officers made materially false and misleading statements, or failed to disclose material facts relating to KHE, in violation of the U.S. Federal securities laws. The complaint sought damages, attorneys’ fees, costs and equitable/injunctive relief. The Company moved to dismiss the complaint, and on December 23, 2011, the court granted the Company’s motion and dismissed the case with prejudice. On January 25, 2012, the Plaintiff filed a motion seeking leave to amend or alter that final judgment. The court granted the Plaintiff’s motion to alter the dismissal and granted leave to file an amended complaint. The Company intends to file a motion to dismiss the amended complaint and will continue to vigorously defend against this action.

With regard to the previously disclosed Gatsiopoulos case, the federal False Claims Act allegations have been dismissed and the employment claim has been resolved.

DOE Program Reviews. The U.S. Department of Education (DOE) has undertaken program reviews at various KHE campus locations and at Kaplan University. Currently, there are three pending program reviews, including Kaplan University. In addition, the Company is awaiting the DOE’s final report on the program review at KHE’s Broomall, PA, location. The results of these open reviews and their impact on Kaplan’s operations are uncertain.

Other. In December 2011, the United Kingdom Border Agency (UKBA) conducted a compliance review at Kaplan UK’ s Borough High Street Center in London, England. The review focused on Kaplan UK’s compliance with regulations regarding Tier 4 students, who are adult students seeking to study in the U.K. Kaplan UK is fully cooperating with this inquiry and is in the process of responding to requests for additional information. In cases of noncompliance, the UKBA has the authority to take a range of actions to limit, suspend or revoke an institution’s ability to sponsor foreign students. At this time, Kaplan cannot predict what determinations the UKBA will make or the ultimate impact of this review on Kaplan UK.

Additionally, UKBA issued revised immigration rules that became operational on April 21, 2011. Students from outside the European Economic Area (EEA) and Switzerland who were issued a Confirmation of Acceptance for Studies (CAS) after July 4, 2011 will be given permission to work part-time during their studies only if they attend an institution which qualifies as a Higher Education Institution (HEI). Many of the Kaplan UK international students currently work part-time. Kaplan UK is not in receipt of public funding for the courses upon which international students study and, therefore, does not qualify as an HEI. Also, certain Kaplan UK schools have gained, applied for or are in the process of applying for Highly Trusted Sponsor status (HTS). Without HTS, these schools cannot issue a CAS to potential incoming international students starting in April 2012. These new rules have the potential to adversely impact the number of international students studying at Kaplan UK.

11. FAIR VALUE MEASUREMENTS

Fair value measurements are determined based on the assumptions that a market participant would use in pricing an asset or liability based on a three-tiered hierarchy that draws a distinction between market participant assumptions based on (i) observable inputs, such as quoted prices in active markets (Level 1); (ii) inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2); and (iii) unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value (Level 3). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measure. The Company’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.

13

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows:

(in thousands)			Level 1		Level 2		Total
At March 31, 2012
Assets
	Money market investments(1)		$	―	$	159,324	$	159,324
	Marketable equity securities(3)			365,523		―		365,523
	Other current investments(4)			13,045		24,238		37,283
		Total Financial Assets	$	378,568	$	183,562	$	562,130
Liabilities
	Deferred compensation plan liabilities(6)		$	―	$	60,940	$	60,940
	7.25% unsecured notes(7)			―		465,288		465,288
	AUD 50M borrowing(7)			―		51,717		51,717
	Interest rate swap(8)			―		21		21
		Total Financial Liabilities	$	―	$	577,966	$	577,966

At December 31, 2011
Assets
	Money market investments(2)		$	―	$	180,136	$	180,136
	Marketable equity securities(3)			303,201		―		303,201
	Other current investments(4)			15,223		20,250		35,473
	Interest rate swap(5)			―		14		14
		Total Financial Assets	$	318,424	$	200,400	$	518,824
Liabilities
	Deferred compensation plan liabilities(6)		$	―	$	63,403	$	63,403
	7.25% unsecured notes(7)			―		460,500		460,500
	AUD 50M borrowing(7)			―		51,012		51,012
		Total Financial Liabilities	$	―	$	574,915	$	574,915

____________

(1)       The Company’s money market investments at March 31, 2012 are included in cash and cash equivalents.

(2)       The Company’s money market investments at December 31, 2011 are included in cash, cash equivalents and restricted cash.

(3)       The Company’s investments in marketable equity securities are classified as available-for-sale.

(4)       Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year).

(5)       Included in Deferred charges and other assets. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

(6)       Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits.

(7)       See Note 6 for carrying amount of these notes and borrowing.

(8)       Included in Other liabilities. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

For assets that are measured using quoted prices in active markets, the total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are primarily valued by reference to quoted prices of similar assets or liabilities in active markets, adjusted for any terms specific to that asset or liability.

12. BUSINESS SEGMENTS

The Company has eight reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International, Kaplan Ventures, cable television, newspaper publishing, television broadcasting and other businesses.

Education.  Kaplan sold EduNeering in April 2012, KLT in February 2012, KCS in October 2011 and KVE in July 2011; therefore, the education division’s operating results exclude these businesses. Also, Kaplan’s Colloquy and U.S. Pathways business moved from Kaplan Ventures to Kaplan International. Segment operating results of the education division have been restated to reflect these changes.

14

The following table summarizes the quarterly financial information related to each of the Company’s business segments:

		March 31,		April 3,		July 3,		October 2,		December 31,
(in thousands)		2012		2011		2011		2011		2011
Operating Revenues
	Education	$	553,401	$	618,929	$	616,962	$	608,256	$	587,775
	Cable television		190,210		190,280		191,231		187,892		190,818
	Newspaper publishing		142,321		154,997		162,772		149,257		181,013
	Television broadcasting		81,497		72,183		84,940		73,830		88,253
	Other businesses		6,015		6,662		6,095		6,257		7,121
	Corporate office		―		―		―		―		―
	Intersegment elimination		(968)		(1,139)		(742)		(480)		(1,455)
		$	972,476	$	1,041,912	$	1,061,258	$	1,025,012	$	1,053,525
Income (Loss) From Operations
	Education	$	(13,188)	$	20,049	$	21,468	$	18,768	$	30,573
	Cable television		32,777		37,707		40,425		36,795		41,917
	Newspaper publishing		(22,560)		(12,827)		(2,918)		(9,897)		7,442
	Television broadcasting		30,999		19,591		32,571		24,073		40,854
	Other businesses		(5,251)		(5,039)		(5,014)		(18,126)		(6,608)
	Corporate office		(5,308)		(2,928)		(4,433)		1,069		(8,130)
		$	17,469	$	56,553	$	82,099	$	52,682	$	106,048
Equity in Earnings of Affiliates, Net			3,888		3,737		3,138		(1,494)		568
Interest Expense, Net			(8,094)		(6,979)		(6,963)		(7,673)		(7,464)
Other Income (Expense), Net			8,588		(24,032)		(2,591)		(29,650)		1,073
Income from Continuing Operations Before Income Taxes		$	21,851	$	29,279	$	75,683	$	13,865	$	100,225
Depreciation of Property, Plant and Equipment
	Education	$	20,862	$	20,175	$	21,491	$	20,510	$	22,298
	Cable television		32,197		31,786		31,533		31,661		31,322
	Newspaper publishing		6,236		6,900		6,540		6,453		6,443
	Television broadcasting		3,125		3,110		3,134		3,137		3,067
	Other businesses		81		81		84		79		81
	Corporate office		―		144		100		―		―
		$	62,501	$	62,196	$	62,882	$	61,840	$	63,211
Amortization of Intangible Assets and
	Impairment of Goodwill and Other Intangible Assets
	Education	$	3,243	$	4,420	$	5,049	$	5,576	$	4,401
	Cable television		54		73		66		62		66
	Newspaper publishing		183		290		289		290		182
	Television broadcasting		―		―		―		―		―
	Other businesses		457		933		934		14,182		1,748
	Corporate office		―		―		―		―		―
		$	3,937	$	5,716	$	6,338	$	20,110	$	6,397
Net Pension Expense (Credit)
	Education	$	2,392	$	1,552	$	1,652	$	1,655	$	1,486
	Cable television		530		518		497		455		454
	Newspaper publishing(1)		8,611		6,705		5,288		5,244		8,063
	Television broadcasting		960		646		335		325		363
	Other businesses		19		17		17		17		17
	Corporate office		(9,298)		(9,297)		(9,247)		(9,185)		(9,254)
		$	3,214	$	141	$	(1,458)	$	(1,489)	$	1,129
(1) Includes a $2.4 million charge in the fourth quarter of 2011 related to the withdrawal from a multiemployer pension plan.

15

The following table summarizes financial information related to each of the Company’s business segments for the fiscal years 2011 and 2010:

		Fiscal Year Ended
		December 31,		January 2,
(in thousands)		2011		2011
Operating Revenues
	Education	$	2,431,922	$	2,830,187
	Cable television		760,221		759,884
	Newspaper publishing		648,039		680,373
	Television broadcasting		319,206		342,164
	Other businesses		26,135		46,395
	Corporate office		―		―
	Intersegment elimination		(3,816)		(7,054)
		$	4,181,707	$	4,651,949
Income (Loss) from Operations
	Education	$	90,858	$	351,337
	Cable television		156,844		163,945
	Newspaper publishing		(18,200)		(9,826)
	Television broadcasting		117,089		121,348
	Other businesses		(34,787)		(34,966)
	Corporate office		(14,422)		(24,572)
		$	297,382	$	567,266
Equity in Earnings (Losses) of Affiliates, Net			5,949		(4,133)
Interest Expense, Net			(29,079)		(27,927)
Other (Expense) Income, Net			(55,200)		7,515
Income from Continuing Operations Before Income Taxes		$	219,052	$	542,721
Depreciation of Property, Plant and Equipment
	Education	$	84,474	$	74,248
	Cable television		126,302		124,834
	Newspaper publishing		26,336		30,341
	Television broadcasting		12,448		12,720
	Other businesses		325		270
	Corporate office		244		1,159
		$	250,129	$	243,572
Amortization of Intangible Assets and Impairment of Goodwill and Other Intangible Assets
	Education	$	19,446	$	19,279
	Cable television		267		327
	Newspaper publishing		1,051		1,223
	Television broadcasting		―		―
	Other businesses		17,797		31,263
	Corporate office		―		―
		$	38,561	$	52,092
Net Pension (Credit) Expense
	Education	$	6,345	$	5,707
	Cable television		1,924		1,919
	Newspaper publishing(1)		25,300		42,287
	Television broadcasting		1,669		1,113
	Other businesses		68		65
	Corporate office		(36,983)		(34,599)
		$	(1,677)	$	16,492
(1) Includes a $2.4 and $20.4 million charge in 2011 and 2010, respectively, related to the withdrawal from a multiemployer pension plan.

16

Asset information for the Company’s business segments are as follows:

			As of
		March 31,		December 31,
(in thousands)		2012		2011
Identifiable Assets
	Education	$	1,877,759	$	2,176,240
	Cable television		1,150,124		1,145,596
	Newspaper publishing		83,641		118,253
	Television broadcasting		415,787		421,764
	Other businesses		9,811		11,190
	Corporate office		976,672		823,641
		$	4,513,794	$	4,696,684
Investments in Marketable Equity Securities		$	365,523	$	303,201
Investments in Affiliates			19,329		17,101
Assets of Discontinued Operations			41,177		―
Total Assets		$	4,939,823	$	5,016,986

The following table summarizes the quarterly financial information related to the reportable segments within the Company’s education division:

		March 31,		March 31,		June 30,		September 30,		December 31,
(in thousands)		2012		2011		2011		2011		2011
Operating Revenues
	Higher education	$	308,384	$	386,883	$	358,312	$	330,856	$	323,531
	Test preparation		62,829		73,365		83,197		79,630		66,901
	Kaplan international		176,385		152,135		169,016		192,609		190,820
	Kaplan ventures		6,121		7,215		6,591		6,645		7,014
	Kaplan corporate and other		1,157		1,117		1,065		1,293		1,110
	Intersegment elimination		(1,475)		(1,786)		(1,219)		(2,777)		(1,601)
		$	553,401	$	618,929	$	616,962	$	608,256	$	587,775
(Loss) Income from Operations
	Higher education	$	8,954	$	50,650	$	45,157	$	25,083	$	28,025
	Test preparation		(10,219)		(12,676)		(11,597)		(4,745)		520
	Kaplan international		3,423		(682)		8,642		10,775		22,771
	Kaplan ventures		(1,261)		(974)		(2,079)		(2,034)		(311)
	Kaplan corporate and other		(14,279)		(16,038)		(18,673)		(9,231)		(20,605)
	Intersegment elimination		194		(231)		18		(1,080)		173
		$	(13,188)	$	20,049	$	21,468	$	18,768	$	30,573
Depreciation of Property, Plant and Equipment
	Higher education	$	11,757	$	11,241	$	11,897	$	11,825	$	13,416
	Test preparation		4,315		4,449		3,796		3,445		3,799
	Kaplan international		4,200		3,468		4,752		4,384		4,350
	Kaplan ventures		145		186		181		173		198
	Kaplan corporate and other		445		831		865		683		535
		$	20,862	$	20,175	$	21,491	$	20,510	$	22,298

17

The following table summarizes financial information related to the reportable segments of the Company’s education division segments for the fiscal years 2011 and 2010:

		Fiscal Year Ended
(in thousands)		2011		2010
Operating Revenues
	Higher education	$	1,399,582	$	1,905,038
	Test preparation		303,093		314,879
	Kaplan international		704,580		587,780
	Kaplan ventures		27,465		25,348
	Kaplan corporate and other		4,585		5,537
	Intersegment elimination		(7,383)		(8,395)
		$	2,431,922	$	2,830,187
Income (Loss) from Operations
	Higher education	$	148,915	$	406,880
	Test preparation		(28,498)		(32,583)
	Kaplan international		41,506		49,309
	Kaplan ventures		(5,398)		(8,170)
	Kaplan corporate and other		(64,547)		(63,865)
	Intersegment elimination		(1,120)		(234)
		$	90,858	$	351,337
Depreciation of Property, Plant and Equipment
	Higher education	$	48,379	$	42,412
	Test preparation		15,489		14,095
	Kaplan international		16,954		12,993
	Kaplan ventures		738		897
	Kaplan corporate and other		2,914		3,851
		$	84,474	$	74,248

Identifiable assets for the Company’s education division consist of the following:

		As of
		March 31,		December 31,
(in thousands)		2012		2011
Identifiable Assets
	Higher education	$	634,610	$	908,268
	Test preparation		325,247		330,956
	Kaplan international		830,506		809,702
	Kaplan ventures		29,304		30,568
	Kaplan corporate and other		58,092		96,746
		$	1,877,759	$	2,176,240

Item 2.        Management’s Discussion and Analysis of Results of Operations and Financial Condition

This analysis should be read in conjunction with the condensed consolidated financial statements and the notes thereto.

Results of Operations

The Company reported net income attributable to common shares of $31.0 million ($4.07 per share) for the first quarter ended March 31, 2012, compared to $15.2 million ($1.87 per share) for the first quarter of last year. Net income includes $20.2 million in income from discontinued operations ($2.70 per share) and $2.8 million ($0.34 per share) in losses from discontinued operations for the first quarter of 2012 and 2011, respectively. Income from continuing operations attributable to common shares was $10.8 million ($1.37 per share) for the first quarter of 2012, compared to $17.9 million ($2.21 per share) for the first quarter of 2011. As a result of the Company’s share repurchases, there were 6% fewer diluted average shares outstanding in the first quarter of 2012.

18

Items included in the Company’s income from continuing operations for the first quarter of 2012:

§$1.9 million in severance and early retirement charges at the newspaper publishing division (after-tax impact of $1.2 million, or $0.16 per share);

§a $5.8 million gain on sales of cost method investments (after-tax impact of $3.7 million, or $0.48 per share); and

§$2.7 million in non-operating unrealized foreign currency gains (after-tax impact of $1.7 million, or $0.22 per share).

Items included in the Company’s income from continuing operations for the first quarter of 2011:

§$2.3 million in severance and restructuring charges at Kaplan (after-tax impact of $1.4 million, or $0.18 per share);

§a $3.8 million gain on the sale of a cost method investment (after-tax impact of $2.4 million, or $0.29 per share);

§a $30.7 million write-down of a marketable equity security (after-tax impact of $19.8 million, or $2.44 per share); and

§$2.7 million in non-operating unrealized foreign currency gains (after-tax impact of $1.7 million, or $0.21 per share).

Revenue for the first quarter of 2012 was $972.5 million, down 7% from $1,041.9 million in the first quarter of 2011. The Company reported operating income of $17.5 million in the first quarter of 2012, compared to operating income of $56.6 million in the first quarter of 2011. Revenues were down at the education and newspaper publishing divisions and flat at the cable television division, offset by an increase at the television broadcasting division. Operating results were down at all of the Company’s divisions, except for the television broadcasting division.

Division Results

Education

Education division revenue totaled $553.4 million for the first quarter of 2012, an 11% decline from revenue of $618.9 million for the first quarter of 2011. Excluding revenue from acquired businesses, education division revenue declined 13% in the first quarter of 2012. Kaplan reported a first quarter 2012 operating loss of $13.2 million, compared to operating income of $20.0 million in the first quarter of 2011.

A summary of Kaplan’s first quarter 2012 operating results compared to 2011 is as follows:

		First Quarter
(in thousands)		2012		2011		% Change
Revenue
	Higher education	$	308,384	$	386,883	(20)
	Test preparation		62,829		73,365	(14)
	Kaplan international		176,385		152,135	16
	Kaplan ventures		6,121		7,215	(15)
	Kaplan corporate		1,157		1,117	4
	Intersegment elimination		(1,475)		(1,786)	―
		$	553,401	$	618,929	(11)
Operating Income (Loss)
	Higher education	$	8,954	$	50,650	(82)
	Test preparation		(10,219)		(12,676)	19
	Kaplan international		3,423		(682)	―
	Kaplan ventures		(1,261)		(974)	(29)
	Kaplan corporate		(11,036)		(11,618)	5
	Amortization of intangible assets		(3,243)		(4,420)	27
	Intersegment elimination		194		(231)	―
		$	(13,188)	$	20,049	―

Kaplan sold Kaplan Learning Technologies in February 2012 and EduNeering in April 2012. Consequently, the education division’s operating results exclude these businesses. Also, Kaplan’s Colloquy and U.S. Pathways business moved from Kaplan Ventures to Kaplan International. The comparative division results presented above reflect this change.

Kaplan Higher Education (KHE) includes Kaplan’s domestic postsecondary education businesses, made up of fixed-facility colleges and online postsecondary and career programs. KHE also includes the domestic professional training and

19

other continuing education businesses. In the first quarter of 2012, KHE revenue declined 20% due to a decline in average enrollments, reflecting weaker market demand over the past year. Operating income decreased 82% due primarily to lower revenue, offset by expense reductions associated with lower enrollments and recent restructuring efforts.

Although revenues were down substantially compared to the first quarter of 2011, new student enrollments at Kaplan University and KHE Campuses increased 5% in the first quarter of 2012. Student enrollments at March 31, 2012 were down 18% compared to March 31, 2011, but increased 2% compared to December 31, 2011, as follows:

	Student Enrollments As of
	March 31,	December 31,	March 31,
	2012	2011	2011
Kaplan University	49,481	50,190	61,724
KHE Campuses	26,503	24,360	30,569
	75,984	74,550	92,293

Kaplan University enrollments included 5,979, 5,799 and 7,928 campus-based students as of March 31, 2012, December 31, 2011, and March 31, 2011, respectively.

Kaplan University and KHE Campuses enrollments at March 31, 2012, and March 31, 2011, by degree and certificate programs, are as follows:

	As of March 31,
	2012		2011
Certificate	25.2	%	23.1	%
Associate’s	29.7	%	33.4	%
Bachelor’s	33.6	%	34.2	%
Master’s	11.5	%	9.3	%
	100.0	%	100.0	%

KHE has implemented a number of marketing and admissions changes to increase student selectivity and help KHE comply with recent regulations. KHE also implemented the Kaplan Commitment program, which provides first-time students with a risk-free trial period. Under the program, KHE also monitors academic progress and conducts academic assessments to help determine whether students are likely to be successful in their chosen course of study. Students who withdraw or are subject to academic dismissal during the risk-free trial period do not incur any significant financial obligation. For those first-time students enrolled to date under the Kaplan Commitment, the attrition rate during the risk-free period has been approximately 27%, of which about 58% is due to Kaplan’s dismissal of students from the program because of the student’s lack of academic progress during the period and the remainder due to students who have elected not to continue their studies. Given that the Kaplan Commitment program has only been in place for a short period of time, management is unable to estimate with confidence to what degree the program will cause student retention patterns to differ from historical levels. However, based on limited preliminary data, it appears that most of the historical early term attrition has been accelerated into the commitment period, having the desired effect of providing these students with a risk-free trial period and ultimately improving student outcome results for the institution. Management believes the Kaplan Commitment program is unique and reflects Kaplan’s commitment to student success.

Refer to KHE Regulatory Matters below for additional information.

Kaplan Test Preparation (KTP) includes Kaplan’s standardized test preparation and tutoring offerings and other businesses. KTP revenue declined 14% in the first quarter of 2012. Enrollment increases of 11%, driven by strength in the medical and bar review programs, were offset by competitive pricing pressure and a shift in demand to lower priced online test preparation offerings. Revenues also declined from the prior year as changes in certain programs and the mix of courses resulted in an increase in average course length and related revenue recognition periods. Total sales bookings at KTP during the first quarter of 2012 were down 2% compared to the first quarter of 2011. KTP operating results reflected lower operating expenses in the first quarter of 2012 due to recent restructuring activities. The first quarter of 2011 also included $2.3 million in restructuring costs.

In the first quarter of 2012, the Company performed an interim test of the carrying value of goodwill at the KTP reporting unit for possible impairment. The estimated fair value of the KTP reporting unit exceeded its carrying value by a margin of 10%. There exists a reasonable possibility that a decrease in the assumed projected cash flows or long-term growth rate,

20

or an increase in the discount rate assumption used in the discounted cash flow model of this reporting unit, could result in an impairment charge.

Kaplan International includes professional training and postsecondary education businesses outside the United States and English-language programs. In May 2011, Kaplan Australia acquired Franklyn Scholar and Carrick Education Group, national providers of vocational training and higher education in Australia. In June 2011, Kaplan acquired Structuralia, a provider of e-learning for the engineering and infrastructure sector in Spain. Kaplan International revenue increased 16% in 2012. Excluding revenue from acquired businesses, Kaplan International revenue increased 6% in the first quarter of 2012 due largely to enrollment growth in the English-language and Singapore higher education programs. Kaplan International operating income increased in the first quarter of 2012 due to strong results in Singapore and the English-language programs, offset by a combined loss from businesses acquired in 2011. 

Most of the businesses previously included in Kaplan Ventures have been sold or moved to other Kaplan divisions. Kaplan Ventures is exploring other alternatives with respect to its remaining businesses, including possible sales. 

Corporate represents unallocated expenses of Kaplan, Inc.’s corporate office and other minor shared activities. 

Cable Television

Cable television division revenue for the first quarter of 2012 was $190.2 million, flat compared to $190.3 million for the first quarter of 2011. The revenue results reflect continued growth of the division’s internet and telephone service revenues, offset by an increase in promotional discounts and a decline in basic video subscribers. 

Cable television division operating income decreased 13% to $32.8 million, from $37.7 million in the first quarter of 2011. The division’s operating income declined primarily due to increased programming and sales costs.

At March 31, 2012, Primary Service Units (PSUs) were up 1% from the prior year due to growth in high-speed data and telephony subscribers, offset by a decrease in basic subscribers. PSUs include about 6,100 subscribers who receive free basic cable service, primarily local governments, schools and other organizations as required by various franchise agreements. A summary of PSUs is as follows:

	March 31,	March 31,
	2012	2011
Basic video	622,339	647,471
High-speed data	463,443	440,215
Telephony	186,009	166,559
	1,271,791	1,254,245

Below are details of Cable division capital expenditures for the first three months of 2012 and 2011, as defined by the NCTA Standard Reporting Categories:

(in thousands)		2012		2011
Customer Premise Equipment	$	15,813	$	6,244
Commercial		864		309
Scaleable Infrastructure		5,525		9,230
Line Extensions		1,123		1,216
Upgrade/Rebuild		3,228		1,615
Support Capital		5,172		3,210
	$	31,725	$	21,824

Newspaper Publishing

Newspaper publishing division revenue totaled $142.3 million for the first quarter of 2012, down 8% from revenue of $155.0 million for the first quarter of 2011. Print advertising revenue at The Washington Post (the Post) in the first quarter of 2012 declined 17% to $52.7 million, from $63.2 million in the first quarter of 2011. The decline is largely due to reductions in general, classified and preprint advertising. Revenue generated by the Company’s newspaper online publishing activities, primarily washingtonpost.com and Slate, decreased 7% to $24.2 million for the first quarter of 2012, versus $26.2 million for the first quarter of 2011. Display online advertising revenue declined 11% for the first quarter of 2012. Online classified advertising revenue on washingtonpost.com decreased 1% for the first quarter of 2012.  

21

For the first quarter of 2012, daily and Sunday circulation at the Post declined 9.8% and 5.2%, respectively, compared to the first quarter of 2011. For the first quarter of 2012, average daily circulation at the Post totaled 492,600, and average Sunday circulation totaled 714,600.    

The newspaper division reported an operating loss of $22.6 million in the first quarter of 2012, compared to an operating loss of $12.8 million in the first quarter of 2011. These operating losses include noncash pension expense of $8.6 million and $6.7 million for the first quarter of 2012 and 2011, respectively. The decline in operating results is primarily due to the revenue reductions discussed above and $1.9 million in severance and early retirement expenses, offset partially by a reduction in other operating expenses. Newsprint expense was down 11% for the first quarter of 2012 compared to the first quarter of 2011, due to a decline in newsprint consumption.

The Post recently offered voluntary buyouts to certain employees, resulting in severance costs of approximately $0.9 million in the first quarter of 2012; additional severance costs related to this program will be recorded in the second quarter of 2012. Additionally, $1.0 million in early retirement program expense was recorded in the first quarter of 2012 at Post-Newsweek Media.

Television Broadcasting

Revenue for the television broadcasting division increased 13% in the first quarter of 2012 to $81.5 million, from $72.2 million in 2011; operating income for the first quarter of 2012 increased 58% to $31.0 million, from $19.6 million in 2011. The increase in revenue and operating income reflects improved advertising demand across many product categories, including a $2.2 million increase in political advertising revenue. Expense reductions from various cost control initiatives also contributed to the improvement in operating results.

Other Businesses

Other businesses includes the operating results of Avenue100 Media Solutions, the Company’s digital marketing business that sources leads for academic institutions and recruiting organizations, and other small businesses.

Corporate Office

Corporate office includes the expenses of the Company’s corporate office as well as a net pension credit.

Equity in Earnings of Affiliates, Net

The Company holds a 49% interest in Bowater Mersey Paper Company, a 16.5% interest in Classified Ventures, LLC and interests in several other affiliates.

The Company’s equity in earnings of affiliates, net, for the first quarter of 2012 was $3.9 million, compared to $3.7 million for the first quarter of 2011. 

Other Non-Operating Income (Expense)

The Company recorded other non-operating income, net, of $8.6 million for the first quarter of 2012, compared to other non-operating expense, net, of $24.0 million for the first quarter of 2011. The first quarter 2012 non-operating income, net, included a $5.8 million gain on sales of cost method investments, $2.7 million in unrealized foreign currency gains and other items. 

The first quarter 2011 non-operating expense, net, included a $30.7 million write-down of a marketable equity security (Corinthian Colleges, Inc.), offset by a $3.8 million gain on the sale of a cost method investment, $2.7 million in unrealized foreign currency gains and other items.

22

A summary of non-operating income (expense) for the three months ended March 31, 2012 and April 3, 2011, is as follows:

(in thousands)	2012		2011
Gain on sale of cost method investments	$	5,817	$	3,832
Foreign currency gains, net		2,660		2,701
Impairment write-down on a marketable equity security		―		(30,696)
Other, net		111		131
	$	8,588	$	(24,032)

Net Interest Expense

The Company incurred net interest expense of $8.1 million for the first quarter of 2012, compared to $7.0 million for the first quarter of 2011. At March 31, 2012, the Company had $456.4 million in borrowings outstanding at an average interest rate of 7.0%.

Provision for Income Taxes

The effective tax rate for income from continuing operations for the first quarter of 2012 was 48.1%, compared to 37.2% for the first quarter of 2011. The higher effective tax rate in 2012 results primarily from losses in Australia for which no tax benefit is recorded.   

Discontinued Operations

Kaplan sold EduNeering in April 2012, Kaplan Learning Technologies in February 2012, Kaplan Compliance Solutions in October 2011 and Kaplan Virtual Education in July 2011. Consequently, the Company’s income from continuing operations excludes these businesses, which have been reclassified to discontinued operations, net of tax.

The sale of Kaplan Learning Technologies resulted in a pre-tax loss of $3.1 million that was recorded in the first quarter of 2012. The sale of EduNeering resulted in an estimated pre-tax gain of $30 million, which will be recorded in the second quarter of 2012.

In connection with each of the sales of the Company’s stock in EduNeering and Kaplan Learning Technologies, in the first quarter of 2012, the Company recorded $23.2 million of income tax benefits related to the excess of the outside stock tax basis over the net book value of the net assets disposed.

Earnings (Loss) Per Share

The calculation of diluted earnings per share for the first quarter of 2012 was based on 7,614,623 weighted average shares outstanding, compared to 8,119,373 for the first quarter of 2011. At March 31, 2012, there were 7,617,409 shares outstanding and the Company had remaining authorization from the Board of Directors to purchase up to 493,074 shares of Class B common stock.

KHE Regulatory Matters

Gainful employment. In June 2011, the DOE issued final regulations that tie an education program’s Title IV eligibility to whether the program leads to gainful employment. The regulations define an education program that leads to gainful employment as one that complies with the following gainful employment metrics as calculated under the complex formulas prescribed in the regulations: (1) the average annual loan payment for program graduates is 12% or less of annual earnings; (2) the average annual loan payment for program graduates is 30% or less of discretionary income, generally defined as annual earnings above 150% of the U.S. Federal poverty level; and (3) the U.S. Federal loan repayment rate must be at least 35% for loans owed by students for attendance in the program regardless of whether they graduated.

If a program fails all three of the gainful employment metrics in a single U.S. Federal fiscal year, the Department requires the institution, among other things, to disclose to current and prospective students the amount by which the program under-performed the metrics and the institution’s plan for program improvement, and to establish a three-day waiting period before students can enroll. Should a program fail to achieve the metrics twice within three years, the Department requires the institution, among other things, to disclose to current and prospective students that they should expect to have difficulty repaying their student loans; that the program is at risk of losing eligibility to receive U.S. Federal financial

23

aid; and that transfer options exist, including providing resources to students to research other education options and compare program costs. Should a program fail three times within a four-year period, the DOE would terminate the program’s eligibility for U.S. Federal student aid, and the institution would not be able to reestablish the program’s eligibility for at least three years, though the program could continue to operate without student aid. The final rule is scheduled to go into effect on July 1, 2012. However, the first final debt measures will not be released until 2013, and a program cannot lose eligibility until 2015.

Based on current information, the Company does not expect the regulations to adversely impact most of Kaplan’s current programs. However, some of the data needed to compute program eligibility under this regulation, including graduate incomes, are not readily accessible to the institutions, but are compiled by the DOE. In addition, the continuing eligibility of programs for Title IV funding may be affected by factors beyond Kaplan’s control, such as changes in the actual or deemed income level of its graduates, changes in student borrowing levels, increases in interest rates, changes in the U.S. Federal poverty income level relevant for calculating the discretionary income test, changes in the percentage of former students who are current in repayment of their student loans, and other factors.

The 90/10 Rule. Under regulations referred to as the 90/10 rule, a Kaplan Higher Education OPEID unit would lose its eligibility to participate in the Title IV programs for a period of at least two fiscal years if it derives more than 90% of its receipts from the Title IV programs for two consecutive fiscal years, commencing with the unit's first fiscal year that ends after August 14, 2008. Any OPEID reporting unit with receipts from the Title IV programs exceeding 90% for a single fiscal year ending after August 14, 2008, would be placed on provisional certification and may be subject to other enforcement measures. KHE is taking various measures to reduce the percentage of its receipts attributable to Title IV funds, including expanding institutional lending programs in 2012; emphasizing direct-pay and employer-paid education programs; encouraging students to carefully evaluate the amount of their Title IV borrowing; program eliminations; cash-matching and developing and offering additional non-Title IV-eligible certificate preparation, professional development and continuing education programs. Based on currently available information, management does not believe that any of the Kaplan OPEID units will have a 90/10 ratio over 90% in 2012. However, absent the adoption of the changes mentioned above, and if current trends continue, management estimates that in 2013, at least 19 of the KHE Campuses OPEID units, representing approximately 11% of KHE’s 2011 revenues, could have a 90/10 ratio over 90%. As noted above, Kaplan is taking steps to address compliance with the 90/10 rule; however, there can be no guarantee that these measures will be adequate to prevent the 90/10 rule calculations from exceeding 90% in the future.

Financial Condition: Capital Resources and Liquidity

Acquisitions and Dispositions

In the first quarter of 2012, Kaplan acquired two small businesses in its International division; the purchase price allocation mostly comprised goodwill and other intangible assets on a preliminary basis. In the first quarter of 2011, Kaplan made one small acquisition in its Kaplan Ventures division. The assets and liabilities of the companies acquired have been recorded at their estimated fair values at the date of acquisition.

Kaplan completed the sales of Kaplan Learning Technologies in February 2012 and EduNeering in April 2012, which were part of the Kaplan Ventures division.

Capital Expenditures

During the first three months of 2012, the Company’s capital expenditures totaled $44.9 million. The Company estimates that its capital expenditures will be in the range of $220 million to $245 million in 2012.

Liquidity

The Company’s borrowings decreased by $108.8 million, to $456.4 million at March 31, 2012, as compared to borrowings of $565.2 million at December 31, 2011. At March 31, 2012, the Company has $295.0 million in cash and cash equivalents, compared to $381.1 million at December 31, 2011. The Company had money market investments of $159.3 million and $180.1 million that are classified as cash and cash equivalents in the Company’s condensed consolidated Balance Sheets as of March 31, 2012 and December 31, 2011, respectively.

The Company’s total debt outstanding of $456.4 million at March 31, 2012 included $397.2 million of 7.25% unsecured notes due February 1, 2019, $51.7 million of AUD 50M borrowing and $7.5 million in other debt.

24

In June 2011, the Company entered into a credit agreement (the “Credit Agreement”) providing for a new U.S. $450 million, AUD 50 million four year revolving credit facility (the “Facility”), with each of the lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent (“JP Morgan”), and J.P. Morgan Australia Limited, as Australian Sub-Agent. The Facility replaces the Company’s previous revolving credit agreement. The Facility will expire on June 17, 2015, unless the Company and the banks agree to extend the term.

In September 2011, the Company borrowed AUD 50 million under its revolving credit facility. On the same date, the Company entered into interest rate swap agreements with a total notional value of AUD 50 million and a maturity date of March 7, 2015. These interest rate swap agreements will pay the Company variable interest on the AUD 50 million notional amount at the three-month bank bill rate, and the Company will pay the counterparties a fixed rate of 4.5275%. These interest rate swap agreements were entered into to convert the variable rate Australian dollar borrowing under the revolving credit facility into a fixed rate borrowing. Based on the terms of the interest rate swap agreements and the underlying borrowing, these interest rate swap agreements were determined to be effective, and thus qualify as a cash flow hedge. As such, any changes in the fair value of these interest rate swaps are recorded in other comprehensive income on the accompanying condensed consolidated balance sheets until earnings are affected by the variability of cash flows.

In November 2011, Standard & Poor’s lowered the Company’s long-term corporate debt rating from “A-” to “BBB+” and changed the outlook from Negative to Stable. Standard & Poor’s kept the short-term rating unchanged at “A-2.” In November 2011, Moody’s downgraded the Company’s senior unsecured rating from “A2” to “A3” and the commercial paper rating from “Prime-1” to “Prime-2.” The outlook was changed from Rating Under Review to Negative. The Company’s current credit ratings are as follows:

			Standard
	Moody’s		& Poor’s
Long-term		A3		BBB+
Short-term		Prime-2		A-2

During the first quarter of 2012 and 2011, the Company had average borrowings outstanding of approximately $484.5 million and $399.7 million, respectively, at average annual interest rates of approximately 7.0% and 7.2%. During the first quarter of 2012 and 2011, the Company incurred net interest expense of $8.1 million and $7.0 million, respectively.

At March 31, 2012 and December 31, 2011, the Company had working capital of $261.4 million and $250.1 million, respectively. The Company maintains working capital levels consistent with its underlying business requirements and consistently generates cash from operations in excess of required interest or principal payments. The Company expects to fund its estimated capital needs primarily through existing cash balances and internally generated funds and to a lesser extent commercial paper. In management’s opinion, the Company will have ample liquidity to meet its various cash needs throughout 2012.

There were no significant changes to the Company’s contractual obligations or other commercial commitments from those disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.

Forward-Looking Statements

This report contains certain forward-looking statements that are based largely on the Company’s current expectations. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results and achievements to differ materially from those expressed in the forward-looking statements. For more information about these forward-looking statements and related risks, please refer to the section titled “Forward-Looking Statements” in Part I of the Company’s Annual Report on Form 10-K.

Item  3.       Quantitative and Qualitative Disclosures about Market Risk

The Company is exposed to market risk in the normal course of its business due primarily to its ownership of marketable equity securities, which are subject to equity price risk; to its borrowing and cash-management activities, which are subject to interest rate risk; and to its foreign business operations, which are subject to foreign exchange rate risk. The Company’s market risk disclosures set forth in its 2011 Annual Report filed on Form 10-K have not otherwise changed significantly.

25

Item 4.        Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures

An evaluation was performed by the Company’s management, with the participation of the Company’s Chief Executive Officer (the Company’s principal executive officer) and the Company’s Senior Vice President-Finance (the Company’s principal financial officer), of the effectiveness of the Company’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)), as of March 31, 2012. Based on that evaluation, the Company’s Chief Executive Officer and Senior Vice President-Finance have concluded that the Company’s disclosure controls and procedures, as designed and implemented, are effective in ensuring that information required to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms and is accumulated and communicated to management, including the Chief Executive Officer and Senior Vice President-Finance, in a manner that allows timely decisions regarding required disclosure.

(b) Changes in Internal Control Over Financial Reporting

There has been no change in the Company’s internal control over financial reporting during the quarter ended March 31, 2012 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

Item  2.       Unregistered Sales of Equity Securities and Use of Proceeds

Purchases of Equity Securities by the Issuer and Affiliated Purchasers

During the quarter ended March 31, 2012, the Company purchased shares of its Class B Common Stock as set forth in the following table:

			Average	Total Number of	Maximum Number
	Total Number		Price	Shares Purchased	of Shares That May
	of Shares		Paid per	as Part of Publicly	Yet BePurchased
Period	Purchased		Share	Announced Plan*	Under the Plan*
Jan. 1 - Jan. 31, 2012	400	$	339.5	-	493,074
Feb. 1 - Feb. 29, 2012	-		-	-	493,074
Mar. 1 - Mar. 31, 2012	-		-	-	493,074
	400	$	339.5	-

*   On September 8, 2011, the Company’s Board of Directors authorized the Company to purchase, on the open market or otherwise, up to 750,000 shares of its Class B Common Stock. There is no expiration date for that authorization. In the first quarter of 2012, 400 shares were purchased from a recipient of vested awards of restricted shares at market price. Under the Company’s Incentive Compensation Plan, the Compensation Committee may permit the receipt of a vested award of restricted shares of the Company’s Class B Common Stock to receive some or all of the value of the award in cash rather than in shares.

26

Item 6.            Exhibits.

Exhibit Number	Description
3.1	Restated Certificate of Incorporation of the Company dated November 13, 2003 (incorporated by reference to Exhibit 3.1 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 28, 2003).
3.2	Certificate of Designation for the Company’s Series A Preferred Stock dated September 22, 2003 (incorporated by reference to Exhibit 3.2 to Amendment No. 1 to the Company’s Current Report on Form 8-K dated September 22, 2003).
3.3	By-Laws of the Company as amended and restated through November 8, 2007 (incorporated by reference to Exhibit 3.1 to the Company’s Current Report on Form 8-K dated November 14, 2007).
4.1	Second Supplemental Indenture dated January 30, 2009, between the Company and The Bank of New York Mellon Trust Company, N.A., as successor to The First National Bank of Chicago, as Trustee (incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K dated January 30, 2009).
4.2	Four Year Credit Agreement, dated as of June 17, 2011, among the Company, JPMorgan Chase Bank, N.A., J.P. Morgan Australia Limited, Wells Fargo Bank, N.A., The Royal Bank of Scotland PLC, HSBC Bank USA, National Association, The Bank of New York Mellon, PNC Bank, National Association, Bank of America, N.A., Citibank, N.A. and The Northern Trust Company (incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K dated June 17, 2011).
31.1	Rule 13a-14(a)/15d-14(a) Certification of the Chief Executive Officer.
31.2	Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer.
32	Section 1350 Certification of the Chief Executive Officer and the Chief Financial Officer.
101.INS	XBRL Instance Document.*
101.SCH	XBRL Taxonomy Extension Schema Document.*
101.CAL	XBRL Taxonomy Extension  Calculation Linkbase Document.*
101.DEF	XBRL Taxonomy Extension  Definition Linkbase Document.*
101.LAB	XBRL Taxonomy Extension Label Linkbase Document.*
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document.*

* Attached as Exhibit 101 to this report are the following documents formatted in XBRL (Extensible Business Reporting Language):(i) Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2012 and April 3, 2011, (ii) Condensed Consolidated Statements of Comprehensive Income for Three Months Ended March 31, 2012 and April 3, 2011, (iii) Condensed Consolidated Balance Sheets at March 31, 2012 and December 31, 2011, (iv) Condensed Consolidated Statements of Cash Flows for Three Months Ended March 31, 2012 and April 3, 2011, and (v) Notes to Condensed Consolidated Financial Statements. Pursuant to Rule 406T of Regulation S-T, these interactive data files are deemed “furnished” and not “filed” or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, are deemed “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise are not subject to liability under these sections.

27

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	THE WASHINGTON POST COMPANY
	(Registrant)
Date: May 8, 2012	/s/ Donald E. Graham
	Donald E. Graham, Chairman & Chief Executive Officer (Principal Executive Officer)
Date: May 8, 2012	/s/ Hal S. Jones
	Hal S. Jones, Senior Vice President-Finance (Principal Financial Officer)

28

EX-31.1

 

Exhibit 31.1

RULE 13a-14(a)/15d-14(a) CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Donald E. Graham, Chief Executive Officer (principal executive officer) of The Washington Post Company (the “Registrant”), certify that:

1. I have reviewed this quarterly report on Form 10-Q of the Registrant;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)    Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)    Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of Registrant’s board of directors (or persons performing the equivalent functions):

(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

/s/ Donald E. Graham                            

Donald E. Graham

Chief Executive Officer

May 8, 2012

EX-31.2

 

Exhibit 31.2

RULE 13a-14(a)/15d-14(a) CERTIFICATION OF THE CHIEF FINANCIAL OFFICER

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Hal S. Jones, Senior Vice President-Finance (principal financial officer) of The Washington Post Company (the “Registrant”), certify that:

1. I have reviewed this quarterly report on Form 10-Q of the Registrant;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4. The Registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)    Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)    Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5. The Registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of Registrant’s board of directors (or persons performing the equivalent functions):

(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

/s/ Hal S. Jones                                    

Hal S. Jones

Senior Vice President-Finance

May 8, 2012

EX-32

 

Exhibit 32

SECTION 1350 CERTIFICATION OF THE CHIEF EXECUTIVE OFFICER AND THE CHIEF FINANCIAL

OFFICER

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of The Washington Post Company (the “Company”) on Form 10-Q for the period ended March 31, 2012 (the “Report”), Donald E. Graham, Chief Executive Officer of the Company and Hal S. Jones, Senior Vice President-Finance of the Company, each hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Donald E. Graham                            

Donald E. Graham

Chief Executive Officer

May 8, 2012

/s/ Hal S. Jones                                    

Hal S. Jones

Senior Vice President-Finance

May 8, 2012

XML

Goodwill and Other Intangible Assets (Narrative) (Details) (USD $)	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Goodwill [Line Items]
Goodwill impairment charges		$ 0	$ 11,923,000	$ 0	$ 0	$ 11,923,000
Impairment of goodwill and other intangible assets							27,477,000
Amortization of Intangible Assets
Amortization of intangible assets	4,278,000				6,808,000
Estimated amortization of intangible assets, remainder of 2012	13,000,000
Estimated amortization of intangible assets, 2013	13,000,000
Estimated amortization of intangible assets, 2014	8,000,000
Estimated amortization of intangible assets, 2015	7,000,000
Estimated amortization of intangible assets, 2016	6,000,000
Estimated amortization of intangible assets, 2017	3,000,000
Estimated amortization of intangible assets, after 2017	$ 3,000,000

XML

Contingencies (Details)	Mar. 31, 2012 claims
Number of existing legal claims or proceedings that are likely to have a material effect on the Company's business	0
Various KHE campus locations and Kaplan University [Member]
Number of pending DOE program reviews	3

XML

Pension and Postretirement Plans (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2012	Apr. 03, 2011	Dec. 31, 2011
Retirement Benefits Disclosure [Line Items]
Early retirement program expense	$ 1,022,000	$ 430,000
Investment in Marketable Equity Securities	365,523,000		303,201,000
Pension Plans [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense	1,022,000	430,000
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator	10.00%
Pension Plans [Member] | Robinson Terminal Warehouse [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense		400,000
Pension Plans [Member] | Post-Newsweek Media [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense	1,000,000
Supplemental Executive Retirement Plan (SERP) [Member]
Retirement Benefits Disclosure [Line Items]
Early retirement program expense	0	0
Berkshire Hathaway Common Stock [Member] | Pension Plans [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator	20.00%
Value of investments	163,600,000		154,000,000
Foreign Investments [Member] | Pension Plans [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation maximum percentage of assets, equity securities	24.00%
Single Equity Concentration [Member] | Pension Plans [Member]
Retirement Benefits Disclosure [Line Items]
Value of investments	237,500,000		222,400,000
Percentage of total plan assets	12.00%		12.00%
Number of investments the companys pension plan held which individually exceed 10% of total plan assets	1
Concentration In Single Entity, Type Of Industry, Foreign Country Or Individual Fund [Member] | Pension Plans [Member]
Retirement Benefits Disclosure [Line Items]
Minimum percentage of plan assets considered as significant concentrations in pension plans	10.00%
Fixed income securities [Member]
Retirement Benefits Disclosure [Line Items]
Defined benefit plan, target allocation percentage of assets, fixed-income securities, range minimum	10.00%
Geographic Concentration [Member] | Foreign Investments [Member] | Pension Plans [Member]
Retirement Benefits Disclosure [Line Items]
Value of investments	$ 257,300,000		$ 241,400,000
Percentage of total plan assets	13.00%		13.00%
Number of foreign countries for which the companys pension plan holds investments that exceed 10% of total plan assets	1

XML

Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012		Dec. 31, 2011
Assets
Marketable equity securities	$ 365,523		$ 303,201
Quoted Prices in Active Markets for Identical Items (Level 1) [Member]
Assets
Money market investments	0	[1]	0	[2]
Marketable equity securities	365,523	[3]	303,201	[3]
Other current investments	13,045	[4]	15,223	[4]
Interest rate swap			0	[5]
Total Financial Assets	378,568		318,424
Liabilities:
Deferred compensation plan liabilities	0	[6]	0	[6]
7.25% unsecured notes	0	[7]	0	[7]
AUD 50M borrowing	0	[7]	0	[7]
Interest rate swap	0	[8]
Total Financial Liabilities	0		0
Significant Other Observable Inputs (Level 2) [Member]
Assets
Money market investments	159,324	[1]	180,136	[2]
Marketable equity securities	0	[3]	0	[3]
Other current investments	24,238	[4]	20,250	[4]
Interest rate swap			14	[5]
Total Financial Assets	183,562		200,400
Liabilities:
Deferred compensation plan liabilities	60,940	[6]	63,403	[6]
7.25% unsecured notes	465,288	[7]	460,500	[7]
AUD 50M borrowing	51,717	[7]	51,012	[7]
Interest rate swap	21	[8]
Total Financial Liabilities	577,966		574,915
Total [Member]
Assets
Money market investments	159,324	[1]	180,136	[2]
Marketable equity securities	365,523	[3]	303,201	[3]
Other current investments	37,283	[4]	35,473	[4]
Interest rate swap			14	[5]
Total Financial Assets	562,130		518,824
Liabilities:
Deferred compensation plan liabilities	60,940	[6]	63,403	[6]
7.25% unsecured notes	465,288	[7]	460,500	[7]
AUD 50M borrowing	51,717	[7]	51,012	[7]
Interest rate swap	21	[8]
Total Financial Liabilities	$ 577,966		$ 574,915

[1] The Company’s money market investments at March 31, 2012 are included in cash and cash equivalents.

[2] The Company’s money market investments at December 31, 2011 are included in cash, cash equivalents and restricted cash.

[3] The Company’s investments in marketable equity securities are classified as available-for-sale.

[4] Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year).

[5] Included in Deferred charges and other assets. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

[6] Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits.

[7] See Note 6 for carrying amount of these notes and borrowing.

[8] Included in Other liabilities. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

XML

Earnings Per Share (Narrative) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Apr. 03, 2011
Earnings Per Share [Abstract]
Cost of shares repurchased by company	$ 136	$ 121,395
Antidilutive securities, shares	115,294	79,850
Dividends declared per common share	$ 4.90	$ 4.70

XML

Investments (Narrative) (Details) (USD $)	3 Months Ended			3 Months Ended			1 Months Ended	3 Months Ended
	Mar. 31, 2012 investment	Apr. 03, 2011 investment	Dec. 31, 2011	Oct. 02, 2011 Corinthian Colleges, Inc. [Member]	Apr. 03, 2011 Corinthian Colleges, Inc. [Member]	Mar. 31, 2012 Corinthian Colleges, Inc. [Member]	Apr. 30, 2012 First quarter 2012 investments in marketable equity securities	Mar. 31, 2012 First quarter 2012 investments in marketable equity securities
Investments in marketable equity securities		$ 0						$ 30,000,000
Portion of Q1 nvestments in marketable equity securities that settled in Q2							7,700,000
Amount of time investment had been in an unrealized loss position					over six months
Impairment write-down on a marketable equity security	0	30,696,000		23,100,000	30,700,000
Company's investments in marketable equity securities	$ 365,523,000		$ 303,201,000			$ 32,000,000
Sales of marketable equity securties	0	0

XML

Business Segments (Details 1) (USD $)	3 Months Ended									12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011		Oct. 02, 2011	Sep. 30, 2011	Jul. 03, 2011	Jun. 30, 2011	Apr. 03, 2011	Mar. 31, 2011	Dec. 31, 2011		Jan. 02, 2011		Dec. 31, 2010
Operating revenues	$ 972,476,000	$ 1,053,525,000		$ 1,025,012,000		$ 1,061,258,000		$ 1,041,912,000		$ 4,181,707,000		$ 4,651,949,000
Income (loss) from operations	17,469,000	106,048,000		52,682,000		82,099,000		56,553,000		297,382,000		567,266,000
Equity in earnings (losses) of affiliates, net	3,888,000	568,000		(1,494,000)		3,138,000		3,737,000		5,949,000		(4,133,000)
Interest expense, net	(8,094,000)	(7,464,000)		(7,673,000)		(6,963,000)		(6,979,000)		(29,079,000)		(27,927,000)
Other income (expense), net	8,588,000	1,073,000		(29,650,000)		(2,591,000)		(24,032,000)		(55,200,000)		7,515,000
Income from continuing operations before income taxes	21,851,000	100,225,000		13,865,000		75,683,000		29,279,000		219,052,000		542,721,000
Depreciation of property, plant and equipment	62,501,000	63,211,000		61,840,000		62,882,000		62,196,000		250,129,000		243,572,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	3,937,000	6,397,000		20,110,000		6,338,000		5,716,000		38,561,000		52,092,000
Amortization of intangible assets	3,937,000	6,397,000		8,187,000		6,338,000		5,716,000		26,638,000		24,615,000
Net pension expense (credit)	3,214,000	1,129,000		(1,489,000)		(1,458,000)		141,000		(1,677,000)		16,492,000
Identifiable assets	4,513,794,000	4,696,684,000								4,696,684,000
Investment in Marketable Equity Securities	365,523,000	303,201,000								303,201,000
Investments In Affiliates	19,329,000	17,101,000								17,101,000
Assets of discontinued operations	41,177,000	0								0
Total Assets	4,939,823,000	5,016,986,000								5,016,986,000
Education [Member]
Operating revenues	553,401,000	587,775,000		608,256,000	608,256,000	616,962,000	616,962,000	618,929,000	618,929,000	2,431,922,000		2,830,187,000		2,830,187,000
Income (loss) from operations	(13,188,000)	30,573,000		18,768,000	18,768,000	21,468,000	21,468,000	20,049,000	20,049,000	90,858,000		351,337,000		351,337,000
Depreciation of property, plant and equipment	20,862,000	22,298,000		20,510,000	20,510,000	21,491,000	21,491,000	20,175,000	20,175,000	84,474,000		74,248,000		74,248,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	3,243,000	4,401,000		5,576,000		5,049,000		4,420,000		19,446,000		19,279,000
Net pension expense (credit)	2,392,000	1,486,000		1,655,000		1,652,000		1,552,000		6,345,000		5,707,000
Identifiable assets	1,877,759,000	2,176,240,000								2,176,240,000
Higher Education [Member]
Operating revenues	308,384,000	323,531,000			330,856,000		358,312,000		386,883,000	1,399,582,000				1,905,038,000
Income (loss) from operations	8,954,000	28,025,000			25,083,000		45,157,000		50,650,000	148,915,000				406,880,000
Depreciation of property, plant and equipment	11,757,000	13,416,000			11,825,000		11,897,000		11,241,000	48,379,000				42,412,000
Identifiable assets	634,610,000	908,268,000								908,268,000
Test Preparation [Member]
Operating revenues	62,829,000	66,901,000			79,630,000		83,197,000		73,365,000	303,093,000				314,879,000
Income (loss) from operations	(10,219,000)	520,000			(4,745,000)		(11,597,000)		(12,676,000)	(28,498,000)				(32,583,000)
Depreciation of property, plant and equipment	4,315,000	3,799,000			3,445,000		3,796,000		4,449,000	15,489,000				14,095,000
Identifiable assets	325,247,000	330,956,000								330,956,000
Kaplan International [Member]
Operating revenues	176,385,000	190,820,000			192,609,000		169,016,000		152,135,000	704,580,000				587,780,000
Income (loss) from operations	3,423,000	22,771,000			10,775,000		8,642,000		(682,000)	41,506,000				49,309,000
Depreciation of property, plant and equipment	4,200,000	4,350,000			4,384,000		4,752,000		3,468,000	16,954,000				12,993,000
Identifiable assets	830,506,000	809,702,000								809,702,000
Kaplan Ventures [Member]
Operating revenues	6,121,000	7,014,000			6,645,000		6,591,000		7,215,000	27,465,000				25,348,000
Income (loss) from operations	(1,261,000)	(311,000)			(2,034,000)		(2,079,000)		(974,000)	(5,398,000)				(8,170,000)
Depreciation of property, plant and equipment	145,000	198,000			173,000		181,000		186,000	738,000				897,000
Identifiable assets	29,304,000	30,568,000								30,568,000
Kaplan Corporate and Other [Member]
Operating revenues	1,157,000	1,110,000			1,293,000		1,065,000		1,117,000	4,585,000				5,537,000
Income (loss) from operations	(14,279,000)	(20,605,000)			(9,231,000)		(18,673,000)		(16,038,000)	(64,547,000)				(63,865,000)
Depreciation of property, plant and equipment	445,000	535,000			683,000		865,000		831,000	2,914,000				3,851,000
Identifiable assets	58,092,000	96,746,000								96,746,000
Cable Television [Member]
Operating revenues	190,210,000	190,818,000		187,892,000		191,231,000		190,280,000		760,221,000		759,884,000
Income (loss) from operations	32,777,000	41,917,000		36,795,000		40,425,000		37,707,000		156,844,000		163,945,000
Depreciation of property, plant and equipment	32,197,000	31,322,000		31,661,000		31,533,000		31,786,000		126,302,000		124,834,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	54,000	66,000		62,000		66,000		73,000		267,000		327,000
Net pension expense (credit)	530,000	454,000		455,000		497,000		518,000		1,924,000		1,919,000
Identifiable assets	1,150,124,000	1,145,596,000								1,145,596,000
Newspaper Publishing [Member]
Operating revenues	142,321,000	181,013,000		149,257,000		162,772,000		154,997,000		648,039,000		680,373,000
Income (loss) from operations	(22,560,000)	7,442,000		(9,897,000)		(2,918,000)		(12,827,000)		(18,200,000)		(9,826,000)
Depreciation of property, plant and equipment	6,236,000	6,443,000		6,453,000		6,540,000		6,900,000		26,336,000		30,341,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	183,000	182,000		290,000		289,000		290,000		1,051,000		1,223,000
Net pension expense (credit)	8,611,000	8,063,000	[1]	5,244,000		5,288,000		6,705,000		25,300,000	[2]	42,287,000	[2]
Identifiable assets	83,641,000	118,253,000								118,253,000
Multiemployer Defined Benefit Plan Withdrawal Charge		2,400,000								2,400,000		20,400,000
Television Broadcasting [Member]
Operating revenues	81,497,000	88,253,000		73,830,000		84,940,000		72,183,000		319,206,000		342,164,000
Income (loss) from operations	30,999,000	40,854,000		24,073,000		32,571,000		19,591,000		117,089,000		121,348,000
Depreciation of property, plant and equipment	3,125,000	3,067,000		3,137,000		3,134,000		3,110,000		12,448,000		12,720,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	0	0		0		0		0		0		0
Net pension expense (credit)	960,000	363,000		325,000		335,000		646,000		1,669,000		1,113,000
Identifiable assets	415,787,000	421,764,000								421,764,000
Other Businesses [Member]
Operating revenues	6,015,000	7,121,000		6,257,000		6,095,000		6,662,000		26,135,000		46,395,000
Income (loss) from operations	(5,251,000)	(6,608,000)		(18,126,000)		(5,014,000)		(5,039,000)		(34,787,000)		(34,966,000)
Depreciation of property, plant and equipment	81,000	81,000		79,000		84,000		81,000		325,000		270,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	457,000	1,748,000		14,182,000		934,000		933,000		17,797,000		31,263,000
Net pension expense (credit)	19,000	17,000		17,000		17,000		17,000		68,000		65,000
Identifiable assets	9,811,000	11,190,000								11,190,000
Corporate Office [Member]
Operating revenues	0	0		0		0		0		0		0
Income (loss) from operations	(5,308,000)	(8,130,000)		1,069,000		(4,433,000)		(2,928,000)		(14,422,000)		(24,572,000)
Depreciation of property, plant and equipment	0	0		0		100,000		144,000		244,000		1,159,000
Amortization of intangible assets and impairment of goodwill and other intangible assets	0	0		0		0		0		0		0
Net pension expense (credit)	(9,298,000)	(9,254,000)		(9,185,000)		(9,247,000)		(9,297,000)		(36,983,000)		(34,599,000)
Identifiable assets	976,672,000	823,641,000								823,641,000
Intersegment Elimination [Member]
Operating revenues	(968,000)	(1,455,000)		(480,000)		(742,000)		(1,139,000)		(3,816,000)		(7,054,000)
Intersegment Elimination [Member] | Education [Member]
Operating revenues	(1,475,000)	(1,601,000)			(2,777,000)		(1,219,000)		(1,786,000)	(7,383,000)				(8,395,000)
Income (loss) from operations	$ 194,000	$ 173,000			$ (1,080,000)		$ 18,000		$ (231,000)	$ (1,120,000)				$ (234,000)

[1] (1) Includes a $2.4 million charge in the fourth quarter of 2011 related to the withdrawal from a multiemployer pension plan.

[2] (1) Includes a $2.4 and $20.4 million charge in 2011 and 2010, respectively, related to the withdrawal from a multiemployer pension plan.

XML

Pension and Postretirement Plans (Tables)

3 Months Ended

Mar. 31, 2012

Allocation of the Assets of the Company's Pension Plans [Table Text Block]

	March 31,			December 31,
	2012			2011
U.S. equities		69	%		69	%
U.S. fixed income		10	%		10	%
International equities		21	%		21	%
		100	%		100	%

Defined Benefit Plans [Member]

Summary of Net (Benefit) Costs [Table Text Block]

					Supplemental Executive
	Pension Plans				Retirement Plan
	March 31,		April 3,		March 31,		April 3,
(in thousands)	2012		2011		2012		2011
Service cost	$	9,107	$	7,214	$	367	$	380
Interest cost		14,591		15,105		1,060		1,084
Expected return on assets		(24,012)		(23,489)		―		―
Amortization of prior service cost		937		881		14		65
Recognized actuarial loss		1,569		―		458		353
Net Periodic Cost (Benefit)		2,192		(289)		1,899		1,882
Early retirement program expense		1,022		430		―		―
Total Cost	$	3,214	$	141	$	1,899	$	1,882

Other Postretirement Plans [Member]

Summary of Net (Benefit) Costs [Table Text Block]

	March 31,		April 3,
(in thousands)	2012		2011
Service cost	$	778	$	718
Interest cost		684		766
Amortization of prior service credit		(1,402)		(1,413)
Recognized actuarial gain		(370)		(480)
Total Periodic Benefit	$	(310)	$	(409)

XML

Pension and Postretirement Plans (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Defined Benefit Plan Disclosure [Line Items]
Early retirement program expense	$ 1,022				$ 430
Total Cost (Benefit)	3,214	1,129	(1,489)	(1,458)	141	(1,677)	16,492
Amortization of prior service credit (cost)	451				467
Total recognized in other comprehensive income (before tax effects)	1,206				(5,207)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	9,107				7,214
Interest cost	14,591				15,105
Expected return on assets	(24,012)				(23,489)
Amortization of prior service cost (credit)	937				881
Recognized actuarial loss (gain)	1,569				0
Net periodic cost (benefit)	2,192				(289)
Early retirement program expense	1,022				430
Total Cost (Benefit)	3,214				141
Supplemental Executive Retirement Plan (SERP) [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	367				380
Interest cost	1,060				1,084
Expected return on assets	0				0
Amortization of prior service cost (credit)	14				65
Recognized actuarial loss (gain)	458				353
Net periodic cost (benefit)	1,899				1,882
Early retirement program expense	0				0
Total Cost (Benefit)	1,899				1,882
Other Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	778				718
Interest cost	684				766
Amortization of prior service cost (credit)	(1,402)				(1,413)
Recognized actuarial loss (gain)	(370)				(480)
Total Cost (Benefit)	$ (310)				$ (409)

XML

Income Taxes (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Income (Loss) from Operations before Extraordinary Items [Abstract]
Income From Continuing Operations Before Income Taxes	$ 21,851	$ 100,225	$ 13,865	$ 75,683	$ 29,279	$ 219,052	$ 542,721
Provision for income taxes on income from continuing operations [Abstract]
Provision for income taxes	$ 10,500	$ 41,000	$ 16,800	$ 27,900	$ 10,900	$ 96,600	$ 219,500

XML

Property, Plant and Equipment (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment [Abstract]
Property, plant and equipment, net	$ 1,129,131	$ 1,152,390

XML

Pension and Postretirement Plans (Details 7) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Defined Benefit Plan Disclosure [Line Items]
Net amount	$ (64,348)	$ (63,625)

XML

Earnings Per Share (Details 2) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Earnings Per Share [Abstract]
Income from continuing operations attributable to The Washington Post Company common stockholders	$ 10,830	$ 59,208	$ (3,177)	$ 47,593	$ 17,904	$ 121,528	$ 322,393
Less: Amount attributable to participating securities	(501)				(162)
Basic income from continuing operations attributable to The Washington Post Company common stockholders	10,329				17,742
Plus: Amount attributable to participating securities	501				162
Diluted income from continuing operations attributable to The Washington Post Company common stockholders	$ 10,830				$ 17,904
Basic weighted average shares outstanding	7,514				8,046
Plus: Effect of dilutive shares related to stock options and restricted stock	101				73
Diluted weighted average shares outstanding	7,615				8,119
Income Per Share From Continuing Operations To Common Stockholders [Abstract]
Basic	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.12
Diluted	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.10

XML

Investments

3 Months Ended

Mar. 31, 2012

Investments [Abstract]

Investments [Text Block]

3. INVESTMENTS

Investments in marketable equity securities at March 31, 2012 and December 31, 2011comprised the following:

	March 31,		December 31,
(in thousands)	2012		2011
Total cost	$	199,277	$	169,271
Net unrealized gains		166,246		133,930
Total Fair Value	$	365,523	$	303,201

The Company made $30.0 million in investments in marketable equity securities during the first quarter of 2012, of which $7.7 million was settled in April 2012, after the first quarter balance sheet date. There were no new investments in marketable equity securities during the first quarter of 2011. There were no sales of marketable equity securities in the first quarter of 2012 and 2011.

At the end of the first quarter of 2011, the Company's investment in Corinthian Colleges, Inc. had been in an unrealized loss position for over six months. The Company evaluated this investment for other-than-temporary impairment based on various factors, including the duration and severity of the unrealized loss, the reason for the decline in value and the potential recovery period, and the Company's ability and intent to hold the investment. In the first quarter of 2011, the Company concluded the loss was other-than-temporary and recorded a $30.7 million write-down on the investment. The investment continued to decline and in the third quarter of 2011, the Company recorded another $23.1 million write-down on the investment. The Company's investment in Corinthian Colleges, Inc. accounted for $32.0 million of the total fair value of the Company's investments in marketable equity securities at March 31, 2012.

XML

Income Taxes (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Income Tax Reconciliation [Line Items]
Provision for income taxes	$ 10,500	$ 41,000	$ 16,800	$ 27,900	$ 10,900	$ 96,600	$ 219,500

XML

Organization, Basis of Presentation and Recent Accounting Pronouncements (Narrative) (Details)	3 Months Ended
	Mar. 31, 2012 televisionstations
Percentage of ownership indicating control for consolidation purposes	more than 50%
Television Broadcasting [Member]
Number of television broadcast stations	6

XML

Business Segments (Tables)

3 Months Ended

Mar. 31, 2012

Segment Reporting Information [Line Items]

Summary of Segment Reporting Information, by Segment [Text Block]

		March 31,		April 3,		July 3,		October 2,		December 31,
(in thousands)		2012		2011		2011		2011		2011
Operating Revenues
	Education	$	553,401	$	618,929	$	616,962	$	608,256	$	587,775
	Cable television		190,210		190,280		191,231		187,892		190,818
	Newspaper publishing		142,321		154,997		162,772		149,257		181,013
	Television broadcasting		81,497		72,183		84,940		73,830		88,253
	Other businesses		6,015		6,662		6,095		6,257		7,121
	Corporate office		―		―		―		―		―
	Intersegment elimination		(968)		(1,139)		(742)		(480)		(1,455)
		$	972,476	$	1,041,912	$	1,061,258	$	1,025,012	$	1,053,525
Income (Loss) From Operations
	Education	$	(13,188)	$	20,049	$	21,468	$	18,768	$	30,573
	Cable television		32,777		37,707		40,425		36,795		41,917
	Newspaper publishing		(22,560)		(12,827)		(2,918)		(9,897)		7,442
	Television broadcasting		30,999		19,591		32,571		24,073		40,854
	Other businesses		(5,251)		(5,039)		(5,014)		(18,126)		(6,608)
	Corporate office		(5,308)		(2,928)		(4,433)		1,069		(8,130)
		$	17,469	$	56,553	$	82,099	$	52,682	$	106,048
Equity in Earnings of Affiliates, Net			3,888		3,737		3,138		(1,494)		568
Interest Expense, Net			(8,094)		(6,979)		(6,963)		(7,673)		(7,464)
Other Income (Expense), Net			8,588		(24,032)		(2,591)		(29,650)		1,073
Income from Continuing Operations Before Income Taxes		$	21,851	$	29,279	$	75,683	$	13,865	$	100,225
Depreciation of Property, Plant and Equipment
	Education	$	20,862	$	20,175	$	21,491	$	20,510	$	22,298
	Cable television		32,197		31,786		31,533		31,661		31,322
	Newspaper publishing		6,236		6,900		6,540		6,453		6,443
	Television broadcasting		3,125		3,110		3,134		3,137		3,067
	Other businesses		81		81		84		79		81
	Corporate office		―		144		100		―		―
		$	62,501	$	62,196	$	62,882	$	61,840	$	63,211
Amortization of Intangible Assets and
	Impairment of Goodwill and Other Intangible Assets
	Education	$	3,243	$	4,420	$	5,049	$	5,576	$	4,401
	Cable television		54		73		66		62		66
	Newspaper publishing		183		290		289		290		182
	Television broadcasting		―		―		―		―		―
	Other businesses		457		933		934		14,182		1,748
	Corporate office		―		―		―		―		―
		$	3,937	$	5,716	$	6,338	$	20,110	$	6,397
Net Pension Expense (Credit)
	Education	$	2,392	$	1,552	$	1,652	$	1,655	$	1,486
	Cable television		530		518		497		455		454
	Newspaper publishing(1)		8,611		6,705		5,288		5,244		8,063
	Television broadcasting		960		646		335		325		363
	Other businesses		19		17		17		17		17
	Corporate office		(9,298)		(9,297)		(9,247)		(9,185)		(9,254)
		$	3,214	$	141	$	(1,458)	$	(1,489)	$	1,129
(1) Includes a $2.4 million charge in the fourth quarter of 2011 related to the withdrawal from a multiemployer pension plan.

		Fiscal Year Ended
		December 31,		January 2,
(in thousands)		2011		2011
Operating Revenues
	Education	$	2,431,922	$	2,830,187
	Cable television		760,221		759,884
	Newspaper publishing		648,039		680,373
	Television broadcasting		319,206		342,164
	Other businesses		26,135		46,395
	Corporate office		―		―
	Intersegment elimination		(3,816)		(7,054)
		$	4,181,707	$	4,651,949
Income (Loss) from Operations
	Education	$	90,858	$	351,337
	Cable television		156,844		163,945
	Newspaper publishing		(18,200)		(9,826)
	Television broadcasting		117,089		121,348
	Other businesses		(34,787)		(34,966)
	Corporate office		(14,422)		(24,572)
		$	297,382	$	567,266
Equity in Earnings (Losses) of Affiliates, Net			5,949		(4,133)
Interest Expense, Net			(29,079)		(27,927)
Other (Expense) Income, Net			(55,200)		7,515
Income from Continuing Operations Before Income Taxes		$	219,052	$	542,721
Depreciation of Property, Plant and Equipment
	Education	$	84,474	$	74,248
	Cable television		126,302		124,834
	Newspaper publishing		26,336		30,341
	Television broadcasting		12,448		12,720
	Other businesses		325		270
	Corporate office		244		1,159
		$	250,129	$	243,572
Amortization of Intangible Assets and Impairment of Goodwill and Other Intangible Assets
	Education	$	19,446	$	19,279
	Cable television		267		327
	Newspaper publishing		1,051		1,223
	Television broadcasting		―		―
	Other businesses		17,797		31,263
	Corporate office		―		―
		$	38,561	$	52,092
Net Pension (Credit) Expense
	Education	$	6,345	$	5,707
	Cable television		1,924		1,919
	Newspaper publishing(1)		25,300		42,287
	Television broadcasting		1,669		1,113
	Other businesses		68		65
	Corporate office		(36,983)		(34,599)
		$	(1,677)	$	16,492
(1) Includes a $2.4 and $20.4 million charge in 2011 and 2010, respectively, related to the withdrawal from a multiemployer pension plan.

			As of
		March 31,		December 31,
(in thousands)		2012		2011
Identifiable Assets
	Education	$	1,877,759	$	2,176,240
	Cable television		1,150,124		1,145,596
	Newspaper publishing		83,641		118,253
	Television broadcasting		415,787		421,764
	Other businesses		9,811		11,190
	Corporate office		976,672		823,641
		$	4,513,794	$	4,696,684
Investments in Marketable Equity Securities		$	365,523	$	303,201
Investments in Affiliates			19,329		17,101
Assets of Discontinued Operations			41,177		―
Total Assets		$	4,939,823	$	5,016,986

Education [Member]

Segment Reporting Information [Line Items]

Summary of Segment Reporting Information, by Segment [Text Block]

		March 31,		March 31,		June 30,		September 30,		December 31,
(in thousands)		2012		2011		2011		2011		2011
Operating Revenues
	Higher education	$	308,384	$	386,883	$	358,312	$	330,856	$	323,531
	Test preparation		62,829		73,365		83,197		79,630		66,901
	Kaplan international		176,385		152,135		169,016		192,609		190,820
	Kaplan ventures		6,121		7,215		6,591		6,645		7,014
	Kaplan corporate and other		1,157		1,117		1,065		1,293		1,110
	Intersegment elimination		(1,475)		(1,786)		(1,219)		(2,777)		(1,601)
		$	553,401	$	618,929	$	616,962	$	608,256	$	587,775
(Loss) Income from Operations
	Higher education	$	8,954	$	50,650	$	45,157	$	25,083	$	28,025
	Test preparation		(10,219)		(12,676)		(11,597)		(4,745)		520
	Kaplan international		3,423		(682)		8,642		10,775		22,771
	Kaplan ventures		(1,261)		(974)		(2,079)		(2,034)		(311)
	Kaplan corporate and other		(14,279)		(16,038)		(18,673)		(9,231)		(20,605)
	Intersegment elimination		194		(231)		18		(1,080)		173
		$	(13,188)	$	20,049	$	21,468	$	18,768	$	30,573
Depreciation of Property, Plant and Equipment
	Higher education	$	11,757	$	11,241	$	11,897	$	11,825	$	13,416
	Test preparation		4,315		4,449		3,796		3,445		3,799
	Kaplan international		4,200		3,468		4,752		4,384		4,350
	Kaplan ventures		145		186		181		173		198
	Kaplan corporate and other		445		831		865		683		535
		$	20,862	$	20,175	$	21,491	$	20,510	$	22,298

		Fiscal Year Ended
(in thousands)		2011		2010
Operating Revenues
	Higher education	$	1,399,582	$	1,905,038
	Test preparation		303,093		314,879
	Kaplan international		704,580		587,780
	Kaplan ventures		27,465		25,348
	Kaplan corporate and other		4,585		5,537
	Intersegment elimination		(7,383)		(8,395)
		$	2,431,922	$	2,830,187
Income (Loss) from Operations
	Higher education	$	148,915	$	406,880
	Test preparation		(28,498)		(32,583)
	Kaplan international		41,506		49,309
	Kaplan ventures		(5,398)		(8,170)
	Kaplan corporate and other		(64,547)		(63,865)
	Intersegment elimination		(1,120)		(234)
		$	90,858	$	351,337
Depreciation of Property, Plant and Equipment
	Higher education	$	48,379	$	42,412
	Test preparation		15,489		14,095
	Kaplan international		16,954		12,993
	Kaplan ventures		738		897
	Kaplan corporate and other		2,914		3,851
		$	84,474	$	74,248

		As of
		March 31,		December 31,
(in thousands)		2012		2011
Identifiable Assets
	Higher education	$	634,610	$	908,268
	Test preparation		325,247		330,956
	Kaplan international		830,506		809,702
	Kaplan ventures		29,304		30,568
	Kaplan corporate and other		58,092		96,746
		$	1,877,759	$	2,176,240

XML

Business Segments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2012 segments
Number of reportable segments	8

XML

Debt (Narrative) (Details) (USD $)	3 Months Ended					3 Months Ended	12 Months Ended
	Mar. 31, 2012	Apr. 03, 2011	Dec. 31, 2011	Mar. 31, 2012 7.25% Unsecured Notes due February 1, 2019 [Member]	Dec. 31, 2011 7.25% Unsecured Notes due February 1, 2019 [Member]	Mar. 31, 2012 Other Indebtedness [Member]	Dec. 31, 2011 Other Indebtedness [Member]
Debt Instrument [Line Items]
Minimum interest rate						0.00%	0.00%
Maximum interest rate						6.00%	6.00%
Debt Instrument, Maturity year, start						2012	2012
Debt Instrument, Maturity year, end						2016	2016
Average borrowings outstanding	$ 484,500,000	$ 399,700,000
Weighted average interest rate of borrowings	7.00%	7.20%
Net interest expense incurred	8,100,000	7,000,000
Fair value of debt instrument				465,300,000	460,500,000
Carrying value of debt instrument	$ 397,168,000		$ 397,065,000	$ 397,200,000	$ 397,100,000

XML

Discontinued Operations (Narrative) (Details) (Education [Member], USD $) In Millions, unless otherwise specified	1 Months Ended	3 Months Ended
	Feb. 29, 2012 Sale of Kaplan Learning Technologies [Member]	Jun. 30, 2012 Sale of Kaplan EduNeering [Member] Estimate [Member]	Mar. 31, 2012 Sales of Kaplan EduNeering and Kaplan Learning Technologies [Member]
After-tax loss on sale	$ (1.9)
Estimated pre-tax gain on sale		30
Estimated after-tax gain on sale		19
Income tax benefits in connection with sales of businesses			$ 23.2

XML

Discontinued Operations (Summarized Income (Loss) from Discontinued Operations, Net Of Tax) (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Discontinued Operations [Abstract]
Operating revenues	$ 6,791				$ 21,700
Operating costs and expenses	(7,135)				(26,250)
Loss from discontinued operations	(344)				(4,550)
Benefit from income taxes	(22,500)				(1,800)
Net income (loss) from discontinued operations	22,156				(2,750)
Loss on sale of discontinued operations	(3,082)				0
Benefit from income taxes on sale of discontinued operations	(1,143)				0
Income (loss) from discontinued operations, net of tax	$ 20,217	$ 2,506	$ (3,031)	$ (2,020)	$ (2,750)	$ (5,295)	$ (45,201)

XML

Discontinued Operations

3 Months Ended

Mar. 31, 2012

Discontinued Operations [Abstract]

Discontinued Operations [Text Block]

2. DISCONTINUED OPERATIONS

In February 2012, Kaplan completed the stock sale of Kaplan Learning Technologies (KLT) and recorded an after-tax loss on the sale of $1.9 million, which is included in Income (loss) from discontinued operations, net of tax in the Company's condensed consolidated statement of operations for the three months ended March 31, 2012.

In April 2012, the Company completed the sale of Kaplan EduNeering. Under the terms of the agreement, the purchaser acquired the stock of EduNeering and received substantially all the assets and liabilities. In the second quarter of 2012, the Company will record an estimated pre-tax gain of $30 million and an estimated after-tax gain of $19 million related to this sale, subject to net working capital adjustments. The assets and liabilities of EduNeering have been classified on the Company's condensed consolidated balance sheet as assets and liabilities of discontinued operations as of March 31, 2012. The Company did not reclassify its condensed consolidated balance sheet as of December 31, 2011 to reflect discontinued operations.

The Company recorded $23.2 million of income tax benefits in the first quarter of 2012 in connection with each of the sale of its stock in EduNeering and KLT related to the excess of the outside stock tax basis over the net book value of the net assets disposed. The Company recorded the tax benefit related to the sale of EduNeering in the first quarter of 2012 as the sale makes it apparent that the temporary difference will reverse in the foreseeable future, consistent with FASB Accounting Standards Codification Section 740-30-25-10.

In October 2011, Kaplan completed the sale of Kaplan Compliance Solutions (KCS) and in July 2011, Kaplan completed the sale of Kaplan Virtual Education (KVE). The results of operations of EduNeering, KLT, KCS and KVE, for the first quarter of 2012 and 2011, where applicable, are included in the Company's condensed consolidated statements of operations as Income (loss) from discontinued operations, net of tax. All corresponding prior period operating results presented in the Company's condensed consolidated financial statements and the accompanying notes have been reclassified to reflect the discontinued operations presented. The Company did not reclassify its condensed consolidated statements of cash flows to reflect the discontinued operations.

The summarized income(loss) from discontinued operations, net of tax, for the first quarter of 2012 and 2011 is presented below:

	March 31,		April 3,
(in thousands)	2012		2011
Operating revenues	$	6,791	$	21,700
Operating costs and expenses		(7,135)		(26,250)
Loss from discontinued operations		(344)		(4,550)
Benefit from income taxes		(22,500)		(1,800)
Net Income (Loss) from Discontinued Operations		22,156		(2,750)
Loss on sale of discontinued operations		(3,082)		―
Benefit from income taxes on sale of discontinued operations		(1,143)		―
Income (Loss) from Discontinued Operations, Net of Tax	$	20,217	$	(2,750)

The following table summarizes the 2011 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations:

		April 3,		July 3,		October 2,		December 31,
(in thousands, except per share amounts)		2011		2011		2011		2011
Operating Revenues
	Education	$	618,929	$	616,962	$	608,256	$	587,775
	Advertising		177,385		193,352		170,552		213,255
	Circulation and subscriber		214,523		216,606		212,145		213,183
	Other		31,075		34,338		34,059		39,312
			1,041,912		1,061,258		1,025,012		1,053,525
Operating Costs and Expenses
	Operating		476,081		500,766		499,111		477,027
	Selling, general and administrative		441,366		409,173		391,269		400,842
	Depreciation of property, plant and equipment		62,196		62,882		61,840		63,211
	Amortization of intangible assets		5,716		6,338		8,187		6,397
	Impairment of goodwill		―		―		11,923		―
			985,359		979,159		972,330		947,477
Income from Operations			56,553		82,099		52,682		106,048
	Equity in earnings (losses) of affiliates, net		3,737		3,138		(1,494)		568
	Interest income		982		997		994		1,174
	Interest expense		(7,961)		(7,960)		(8,667)		(8,638)
	Other (expense) income, net		(24,032)		(2,591)		(29,650)		1,073
Income from Continuing Operations before Income Taxes			29,279		75,683		13,865		100,225
Provision for Income Taxes			10,900		27,900		16,800		41,000
Income (Loss) from Continuing Operations			18,379		47,783		(2,935)		59,225
(Loss) Income from Discontinued Operations, Net of Tax			(2,750)		(2,020)		(3,031)		2,506
Net Income (Loss)			15,629		45,763		(5,966)		61,731
Net (Income) Loss Attributable to Noncontrolling Interests			(14)		40		(16)		(17)
Net Income (Loss) Attributable to The Washington Post Company			15,615		45,803		(5,982)		61,714
Redeemable Preferred Stock Dividends			(461)		(230)		(226)		―
Net Income (Loss) Attributable to The Washington Post Company
	Common Stockholders	$	15,154	$	45,573	$	(6,208)	$	61,714
Amounts Attributable to The Washington Post Company
	Common Stockholders
Income (loss) from continuing operations		$	17,904	$	47,593	$	(3,177)	$	59,208
(Loss) income from discontinued operations, net of tax			(2,750)		(2,020)		(3,031)		2,506
Net income (loss) attributable to the Washington Post
	Company common stockholders	$	15,154	$	45,573	$	(6,208)	$	61,714
Per Share Information Attributable to The Washington Post
	Company Common Stockholders
Basic income (loss) per common share from continuing operations		$	2.21	$	6.00	$	(0.43)	$	7.70
Basic (loss) income per common share from discontinued operations			(0.34)		(0.26)		(0.39)		0.33
Basic net income (loss) per common share		$	1.87	$	5.74	$	(0.82)	$	8.03
Diluted income (loss) per common share from continuing operations		$	2.21	$	6.00	$	(0.43)	$	7.70
Diluted (loss) income per common share from discontinued operations			(0.34)		(0.26)		(0.39)		0.33
Diluted net income (loss) per common share		$	1.87	$	5.74	$	(0.82)	$	8.03

The following table summarizes the operating results of the Company for fiscal year 2011 and 2010, following the reclassification of operations discussed above as discontinued operations:

		Fiscal Year Ended
		December 31,		January 2,
(in thousands, except per share amounts)		2011		2011
Operating Revenues
	Education	$	2,431,922	$	2,830,187
	Advertising		754,544		833,605
	Circulation and subscriber		856,457		857,290
	Other		138,784		130,867
			4,181,707		4,651,949
Operating Costs and Expenses
	Operating		1,952,985		1,911,564
	Selling, general and administrative		1,642,650		1,877,455
	Depreciation of property, plant and equipment		250,129		243,572
	Amortization of intangible assets		26,638		24,615
	Impairment of goodwill and other intangible assets		11,923		27,477
			3,884,325		4,084,683
Income from Operations			297,382		567,266
	Equity in earnings (losses) of affiliates, net		5,949		(4,133)
	Interest income		4,147		2,576
	Interest expense		(33,226)		(30,503)
	Other (expense) income, net		(55,200)		7,515
Income from Continuing Operations Before Income Taxes			219,052		542,721
Provision for Income Taxes			96,600		219,500
Income from Continuing Operations			122,452		323,221
Loss from Discontinued Operations, Net of Tax			(5,295)		(45,201)
Net Income			117,157		278,020
Net (Income) Loss attributable to noncontrolling interests			(7)		94
Net Income Attributable to The Washington Post Company			117,150		278,114
Redeemable Preferred Stock Dividends			(917)		(922)
Net Income Attributable to The Washington Post Company Common Stockholders		$	116,233	$	277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations		$	121,528	$	322,393
Loss from discontinued operations, net of tax			(5,295)		(45,201)
Net income attributable to the Washington Post Company common stockholders		$	116,233	$	277,192
Per Share Information Attributable to The Washington Post Company Common
	Stockholders
Basic income per common share from continuing operations		$	15.37	$	36.12
Basic loss per common share from discontinued operations			(0.67)		(5.06)
Basic net income per common share		$	14.70	$	31.06
Diluted income per common share from continuing operations		$	15.37	$	36.10
Diluted loss per common share from discontinued operations			(0.67)		(5.06)
Diluted net income per common share		$	14.70	$	31.04

XML

Discontinued Operations (Operating Results After Reclassifying Certain Operations As Discontinued Operations) (Details 2) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Operating Revenues [Abstract]
Education	$ 553,401	$ 587,775	$ 608,256	$ 616,962	$ 618,929	$ 2,431,922	$ 2,830,187
Advertising	170,750	213,255	170,552	193,352	177,385	754,544	833,605
Circulation and subscriber	215,230	213,183	212,145	216,606	214,523	856,457	857,290
Other	33,095	39,312	34,059	34,338	31,075	138,784	130,867
Total operating revenues	972,476	1,053,525	1,025,012	1,061,258	1,041,912	4,181,707	4,651,949
Operating Costs and Expenses [Abstract]
Operating	471,199	477,027	499,111	500,766	476,081	1,952,985	1,911,564
Selling, general and administrative	417,370	400,842	391,269	409,173	441,366	1,642,650	1,877,455
Depreciation of property, plant and equipment	62,501	63,211	61,840	62,882	62,196	250,129	243,572
Amortization of intangible assets	3,937	6,397	8,187	6,338	5,716	26,638	24,615
Impairment of goodwill		0	11,923	0	0	11,923
Impairment of goodwill and other intangible assets							27,477
Total operating costs and expenses	955,007	947,477	972,330	979,159	985,359	3,884,325	4,084,683
Income from operations	17,469	106,048	52,682	82,099	56,553	297,382	567,266
Equity in earnings (losses) of affiliates, net	3,888	568	(1,494)	3,138	3,737	5,949	(4,133)
Interest income	1,069	1,174	994	997	982	4,147	2,576
Interest expense	(9,163)	(8,638)	(8,667)	(7,960)	(7,961)	(33,226)	(30,503)
Other (expense) income, net	8,588	1,073	(29,650)	(2,591)	(24,032)	(55,200)	7,515
Income From Continuing Operations Before Income Taxes	21,851	100,225	13,865	75,683	29,279	219,052	542,721
Provision for Income Taxes	10,500	41,000	16,800	27,900	10,900	96,600	219,500
Income (Loss) from Continuing Operations	11,351	59,225	(2,935)	47,783	18,379	122,452	323,221
(Loss) Income from Discontinued Operations, Net of Tax	20,217	2,506	(3,031)	(2,020)	(2,750)	(5,295)	(45,201)
Net Income (Loss)	31,568	61,731	(5,966)	45,763	15,629	117,157	278,020
Net (Income) Loss Attributable to Noncontrolling Interests	(70)	(17)	(16)	40	(14)	(7)	94
Net Income (Loss) Attributable to The Washington Post Company	31,498	61,714	(5,982)	45,803	15,615	117,150	278,114
Redeemable Preferred Stock Dividends	(451)	0	(226)	(230)	(461)	(917)	(922)
Net Income (Loss) Attributable to The Washington Post Company Common Stockholders	31,047	61,714	(6,208)	45,573	15,154	116,233	277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income (loss) from continuing operations	10,830	59,208	(3,177)	47,593	17,904	121,528	322,393
(Loss) Income from Discontinued Operations, Net of Tax	20,217	2,506	(3,031)	(2,020)	(2,750)	(5,295)	(45,201)
Net Income (Loss) Attributable to The Washington Post Company Common Stockholders	$ 31,047	$ 61,714	$ (6,208)	$ 45,573	$ 15,154	$ 116,233	$ 277,192
Per Share Information Attributable to The Washington Post Company Common Stockholders
Basic income (loss) per common share from continuing operations	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.12
Basic income (loss) per common share from discontinued operations	$ 2.70	$ 0.33	$ (0.39)	$ (0.26)	$ (0.34)	$ (0.67)	$ (5.06)
Basic net (loss) income per common share	$ 4.07	$ 8.03	$ (0.82)	$ 5.74	$ 1.87	$ 14.70	$ 31.06
Diluted income (loss) per common share from continuing operations	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.10
Diluted (loss) income per common share from discontinued operations	$ 2.70	$ 0.33	$ (0.39)	$ (0.26)	$ (0.34)	$ (0.67)	$ (5.06)
Diluted net income (loss) per common share	$ 4.07	$ 8.03	$ (0.82)	$ 5.74	$ 1.87	$ 14.70	$ 31.04

XML

Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill) (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011
Goodwill [Line Items]
Goodwill, beginning balance	$ 1,586,603
Accumulated impairment losses, beginning balance	(171,606)
Goodwill, net, beginning balance	1,414,997
Acquisitions	5,143
Impairment		0	(11,923)	0	0	(11,923)
Dispositions	(4,660)
Reclassification to discontinued operations	(22,713)
Foreign currency exchange rate changes and other	12,016
Goodwill, ending balance	1,567,897	1,586,603				1,586,603
Accumulated impairment losses, ending balance	(163,114)	(171,606)				(171,606)
Goodwill, net, ending balance	1,404,783	1,414,997				1,414,997
Education [Member]
Goodwill [Line Items]
Goodwill, beginning balance	1,116,615
Accumulated impairment losses, beginning balance	(8,492)
Goodwill, net, beginning balance	1,108,123
Acquisitions	5,143
Dispositions	(4,660)
Reclassification to discontinued operations	(22,713)
Foreign currency exchange rate changes and other	12,016
Goodwill, ending balance	1,097,909
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	1,097,909
Higher Education [Member]
Goodwill [Line Items]
Goodwill, beginning balance	409,128
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	409,128
Acquisitions	0
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	55
Goodwill, ending balance	409,183
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	409,183
Test Preparation [Member]
Goodwill [Line Items]
Goodwill, beginning balance	152,187
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	152,187
Acquisitions	0
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	0
Goodwill, ending balance	152,187
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	152,187
Kaplan International [Member]
Goodwill [Line Items]
Goodwill, beginning balance	515,936
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	515,936
Acquisitions	5,143
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	10,791
Goodwill, ending balance	531,870
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	531,870
Kaplan Ventures [Member]
Goodwill [Line Items]
Goodwill, beginning balance	39,364
Accumulated impairment losses, beginning balance	(8,492)
Goodwill, net, beginning balance	30,872
Acquisitions	0
Dispositions	(4,660)
Reclassification to discontinued operations	(22,713)
Foreign currency exchange rate changes and other	1,170
Goodwill, ending balance	4,669
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	4,669
Cable Television [Member]
Goodwill [Line Items]
Goodwill, beginning balance	85,488
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	85,488
Acquisitions	0
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	0
Goodwill, ending balance	85,488
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	85,488
Newspaper Publishing [Member]
Goodwill [Line Items]
Goodwill, beginning balance	81,183
Accumulated impairment losses, beginning balance	(65,772)
Goodwill, net, beginning balance	15,411
Acquisitions	0
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	0
Goodwill, ending balance	81,183
Accumulated impairment losses, ending balance	(65,772)
Goodwill, net, ending balance	15,411
Television Broadcasting [Member]
Goodwill [Line Items]
Goodwill, beginning balance	203,165
Accumulated impairment losses, beginning balance	0
Goodwill, net, beginning balance	203,165
Acquisitions	0
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	0
Goodwill, ending balance	203,165
Accumulated impairment losses, ending balance	0
Goodwill, net, ending balance	203,165
Other Businesses [Member]
Goodwill [Line Items]
Goodwill, beginning balance	100,152
Accumulated impairment losses, beginning balance	(97,342)
Goodwill, net, beginning balance	2,810
Acquisitions	0
Dispositions	0
Reclassification to discontinued operations	0
Foreign currency exchange rate changes and other	0
Goodwill, ending balance	100,152
Accumulated impairment losses, ending balance	(97,342)
Goodwill, net, ending balance	$ 2,810

XML

Other Non-Operating Income (Expense) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Other Non-Operating Income (Expense) [Abstract]
Gain on sale of cost method investments	$ 5,817				$ 3,832
Foreign currency gains, net	2,660				2,701
Impairment write-down on a marketable equity security	0				(30,696)
Other, net	111				131
Total Other Non-Operating Income (Expense)	$ 8,588	$ 1,073	$ (29,650)	$ (2,591)	$ (24,032)	$ (55,200)	$ 7,515

XML

Condensed Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Operating Revenues [Abstract]
Education	$ 553,401	$ 587,775	$ 608,256	$ 616,962	$ 618,929	$ 2,431,922	$ 2,830,187
Advertising	170,750	213,255	170,552	193,352	177,385	754,544	833,605
Circulation and Subscriber	215,230	213,183	212,145	216,606	214,523	856,457	857,290
Other	33,095	39,312	34,059	34,338	31,075	138,784	130,867
Total Operating Revenues	972,476	1,053,525	1,025,012	1,061,258	1,041,912	4,181,707	4,651,949
Operating Costs and Expenses [Abstract]
Operating	471,199	477,027	499,111	500,766	476,081	1,952,985	1,911,564
Selling, general and administrative	417,370	400,842	391,269	409,173	441,366	1,642,650	1,877,455
Depreciation of property, plant and equipment	62,501	63,211	61,840	62,882	62,196	250,129	243,572
Amortization of intangible assets	3,937	6,397	8,187	6,338	5,716	26,638	24,615
Impairment of goodwill		0	11,923	0	0	11,923
Impairment of goodwill and other intangible assets							27,477
Total Operating Costs and Expenses	955,007	947,477	972,330	979,159	985,359	3,884,325	4,084,683
Income from Operations	17,469	106,048	52,682	82,099	56,553	297,382	567,266
Equity in earnings of affiliates, net	3,888	568	(1,494)	3,138	3,737	5,949	(4,133)
Interest income	1,069	1,174	994	997	982	4,147	2,576
Interest expense	(9,163)	(8,638)	(8,667)	(7,960)	(7,961)	(33,226)	(30,503)
Other income (expense), net	8,588	1,073	(29,650)	(2,591)	(24,032)	(55,200)	7,515
Income From Continuing Operations Before Income Taxes	21,851	100,225	13,865	75,683	29,279	219,052	542,721
Provision for Income Taxes	10,500	41,000	16,800	27,900	10,900	96,600	219,500
Income from Continuing Operations	11,351	59,225	(2,935)	47,783	18,379	122,452	323,221
Income (Loss) from Discontinued Operations, Net of Tax	20,217	2,506	(3,031)	(2,020)	(2,750)	(5,295)	(45,201)
Net Income	31,568	61,731	(5,966)	45,763	15,629	117,157	278,020
Net Income Attributable to Noncontrolling Interest	(70)	(17)	(16)	40	(14)	(7)	94
Net Income Attributable to The Washington Post Company	31,498	61,714	(5,982)	45,803	15,615	117,150	278,114
Redeemable Preferred Stock Dividends	(451)	0	(226)	(230)	(461)	(917)	(922)
Net Income Attributable to The Washington Post Company Common Stockholders	31,047	61,714	(6,208)	45,573	15,154	116,233	277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations	10,830	59,208	(3,177)	47,593	17,904	121,528	322,393
Income (loss) from discontinued operations, net of tax	20,217	2,506	(3,031)	(2,020)	(2,750)	(5,295)	(45,201)
Net Income Attributable to The Washington Post Company Common Stockholders	$ 31,047	$ 61,714	$ (6,208)	$ 45,573	$ 15,154	$ 116,233	$ 277,192
Per Share Information Attributable to The Washington Post Company Common Stockholders
Basic income per common share from continuing operations	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.12
Basic income (loss) per common share from discontinued operations	$ 2.70	$ 0.33	$ (0.39)	$ (0.26)	$ (0.34)	$ (0.67)	$ (5.06)
Basic net income per common share	$ 4.07	$ 8.03	$ (0.82)	$ 5.74	$ 1.87	$ 14.70	$ 31.06
Basic average number of common shares outstanding	7,514				8,046
Diluted income per common share from continuing operations	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.10
Diluted income (loss) per common share from discontinued operations	$ 2.70	$ 0.33	$ (0.39)	$ (0.26)	$ (0.34)	$ (0.67)	$ (5.06)
Diluted net income per common share	$ 4.07	$ 8.03	$ (0.82)	$ 5.74	$ 1.87	$ 14.70	$ 31.04
Diluted average number of common shares outstanding	7,615				8,119

XML

Debt (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Debt [Abstract]
7.25% unsecured notes due February 1, 2019	$ 397,168	$ 397,065
Commercial paper borrowings	0	109,671
AUD 50M borrowing	51,717	51,012
Other indebtedness	7,493	7,464
Total Debt	456,378	565,212
Less: current portion	(3,250)	(112,983)
Total Long-Term Debt	$ 453,128	$ 452,229

XML

Consolidated Statements of Changes in Common Shareholders' Equity (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Beginning Balance	$ 2,601,896
Net Income (Loss)	31,568	61,731	(5,966)	45,763	15,629	117,157	278,020
Net income (loss) attributable to noncontrolling interest	70	17	16	(40)	14	7	(94)
Dividends paid on redeemable preferred stock	451	0	226	230	461	917	922
Repurchase of Class B common stock	136				121,395
Ending Balance	$ 2,626,824	$ 2,601,896				$ 2,601,896

XML

Accounts Receivable, Accounts Payable and Accrued Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Accounts Receivable Accounts Payable And Accrued Liabilities [Abstract]
Accounts receivable, net	$ 359,099	$ 392,725
Total accounts payable and accrued liabilities	$ 492,880	$ 495,041

XML

Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2012

Changes in Carrying Amount of Goodwill [Table Text Block]

				Cable		Newspaper		Television		Other
(in thousands)		Education		Television		Publishing		Broadcasting		Businesses		Total
Balance as of December 31, 2011
	Goodwill	$	1,116,615	$	85,488	$	81,183	$	203,165	$	100,152	$	1,586,603
	Accumulated impairment losses		(8,492)		―		(65,772)		―		(97,342)		(171,606)
			1,108,123		85,488		15,411		203,165		2,810		1,414,997
Acquisitions			5,143		―		―		―		―		5,143
Dispositions			(4,660)		―		―		―		―		(4,660)
Reclassification to discontinued operations			(22,713)		―		―		―		―		(22,713)
Foreign currency exchange rate changes and other			12,016		―		―		―		―		12,016
Balance as of March 31, 2012
	Goodwill		1,097,909		85,488		81,183		203,165		100,152		1,567,897
	Accumulated impairment losses		―		―		(65,772)		―		(97,342)		(163,114)
		$	1,097,909	$	85,488	$	15,411	$	203,165	$	2,810	$	1,404,783

Other Intangible Assets [Table Text Block]

			As of March 31, 2012						As of December 31, 2011
			Gross				Net		Gross				Net
		Useful Life	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(in thousands)		Range	Amount		Amortization		Amount		Amount		Amortization		Amount
Amortized Intangible Assets
	Non-compete agreements	2-5 years	$	14,362	$	11,165	$	3,197	$	14,493	$	10,764	$	3,729
	Student and customer relationships	2-10 years		63,851		36,100		27,751		75,734		47,888		27,846
	Databases and technology	3-5 years		10,514		8,591		1,923		10,514		8,159		2,355
	Trade names and trademarks	2-10 years		32,564		15,778		16,786		36,222		18,936		17,286
	Other	1-25 years		9,604		6,524		3,080		9,971		6,565		3,406
			$	130,895	$	78,158	$	52,737	$	146,934	$	92,312	$	54,622
Indefinite-Lived Intangible Assets
	Franchise agreements		$	496,321					$	496,321
	Wireless licenses			22,150						22,150
	Licensure and accreditation			7,862						7,862
	Other			4,420						4,308
			$	530,753					$	530,641

Education [Member]

Changes in Carrying Amount of Goodwill [Table Text Block]

		Higher		Test		Kaplan		Kaplan
(in thousands)		Education		Preparation		International		Ventures		Total
Balance as of December 31, 2011
	Goodwill	$	409,128	$	152,187	$	515,936	$	39,364	$	1,116,615
	Accumulated impairment losses		―		―		―		(8,492)		(8,492)
			409,128		152,187		515,936		30,872		1,108,123
Acquisitions			―		―		5,143		―		5,143
Dispositions			―		―		―		(4,660)		(4,660)
Reclassification to discontinued operations			―		―		―		(22,713)		(22,713)
Foreign currency exchange rate changes and other			55		―		10,791		1,170		12,016
Balance as of March 31, 2012
	Goodwill		409,183		152,187		531,870		4,669		1,097,909
	Accumulated impairment losses		―		―		―		―		―
		$	409,183	$	152,187	$	531,870	$	4,669	$	1,097,909

XML

Property, Plant and Equipment (Narrative) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Property, Plant and Equipment [Abstract]
Depreciation of property, plant and equipment	$ 62,501	$ 63,211	$ 61,840	$ 62,882	$ 62,196	$ 250,129	$ 243,572

XML

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Summary of Earnings Per Share from Continuing Operations, Basic and Diluted [Table Text Block]

			Three Months Ended
			March 31,		April 3,
(in thousands, except per share amounts)			2012		2011
Income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,830	$	17,904
Less: Amount attributable to participating securities				(501)		(162)
Basic income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,329	$	17,742
Plus: Amount attributable to participating securities				501		162
Diluted income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,830	$	17,904
Basic weighted average shares outstanding				7,514		8,046
Plus: Effect of dilutive shares related to stock options and restricted stock				101		73
Diluted weighted average shares outstanding				7,615		8,119
Income Per Share from Continuing Operations Attributable to The Washington Post Company
	Common Stockholders:
		Basic	$	1.37	$	2.21
		Diluted	$	1.37	$	2.21

XML

Organization, Basis of Presentation and Recent Accounting Pronouncements

3 Months Ended

Mar. 31, 2012

Organization, Basis Of Presentation And Recent Accounting Pronouncements [Abstract]

Organization, Basis of Presentation and Recent Accounting Pronouncements

1. ORGANIZATION, BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS

The Washington Post Company, Inc. (the Company) is a diversified education and media company. The Company's Kaplan subsidiary provides a wide variety of educational services, both domestically and outside the United States. The Company's media operations consist of the ownership and operation of cable television systems, newspaper publishing (principally The Washington Post), and television broadcasting (through the ownership and operation of six television broadcast stations).

Financial Periods – In the fourth quarter of 2011, the Company changed its fiscal quarter from a thirteen week quarter ending on the Sunday nearest the calendar quarter-end to a quarterly month end. The fiscal quarters for 2012 and 2011 ended on March 31, 2012 and April 3, 2011, respectively. Subsidiaries of the Company report on a calendar-quarter basis, with the exception of most of the newspaper publishing operations, which report on a thirteen week quarter ending on the Sunday nearest the calendar quarter-end.

Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations, and cash flows as of and for the periods presented herein. The Company's results of operations for the quarterly periods ended March 31,2012 and April 3,2011 may not be indicative of the Company's future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.

Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain Kaplan businesses as discontinued operations for all periods presented.

Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates.

Assets Held for Sale – An asset or business is classified as held for sale when (i) management commits to a plan to sell the asset or business; (ii) the asset or business is available for immediate sale in its present condition; (iii) the asset or business is actively marketed for sale at a reasonable price; (iv) the sale is expected to be completed within one year; and (v) it is unlikely significant changes to the plan will be made or that the plan will be withdrawn. The assets and related liabilities are aggregated and reported separately in the Company's condensed consolidated balance sheet.

Recently Adopted and Issued Accounting Pronouncements –In June 2011, the Financial Accounting Standards Board (“FASB”) issued an amended standard to increase the prominence of items reported in other comprehensive income. The amendment eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders' equity and requires that all changes in stockholders' equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Inaddition, the amendment requires companies to present on the face of the financial statements reclassification adjustments for items that are reclassified from other comprehensive income to net income in the statement(s) where the components of net income and the components of other comprehensive income are presented. The amendment does not affect how earnings per share is calculated or presented. This amendment is effective for interim and fiscal years beginning after December 15, 2011 and must be applied retrospectively. In December 2011, the FASB deferred the requirements related to the presentation of reclassification adjustments until further deliberations have taken place. Entities should continue to report reclassifications out of accumulated other comprehensive income consistent with the presentation requirements in effect prior to the issuance of the June 2011 amended standard. The adoption of the amendment not deferred by the FASB in the first quarter of 2012 is reflected in the Company's Condensed Consolidated Statements of Comprehensive Income.

XML

Condensed Consolidated Statements of Comprehensive Income (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Apr. 03, 2011
Condensed Consolidated Statements of Comprehensive Income
Net Income	$ 31,568	$ 15,629
Foreign currency translation adjustments:
Translation adjustments arising during the period	7,823	7,970
Adjustment for sale of business with foreign operations	513	0
Total foreign currency translation adjustments	8,336	7,970
Unrealized gains on available-for-sale securities:
Unrealized gains for the period	32,315	7,210
Reclassification adjustment for write-down on available-for-sale security included in net income	0	30,696
Total unrealized gains on available-for-sale securities	32,315	37,906
Pension and other postretirement plans:
Amortization of net prior service credit included in net income	(451)	(467)
Amortization of net actuarial loss (gain) included in net income	1,657	(127)
Foreign affiliate pension adjustment	0	(4,613)
Total pension and other postretirement plans	1,206	(5,207)
Cash flow hedge, net change	(35)	0
Other Comprehensive Income, Before Tax	41,822	40,669
Income tax expense related to items of other comprehensive income	(13,393)	(15,369)
Other Comprehensive Income, Net of Tax	28,429	25,300
Comprehensive Income	59,997	40,929
Comprehensive income attributable to noncontrolling interests	(90)	(35)
Total Comprehensive Income Attributable to The Washington Post Company	$ 59,907	$ 40,894

XML

Fair Value Measurements

3 Months Ended

Mar. 31, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements [Text Block]

11. FAIR VALUE MEASUREMENTS

Fair value measurements are determined based on the assumptions that a market participant would use in pricing an asset or liability based on a three-tiered hierarchy that draws a distinction between market participant assumptions based on (i) observable inputs, such as quoted prices in active markets (Level 1); (ii) inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2); and (iii) unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value (Level 3). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measure. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy.

The Company's financial assets and liabilities measured at fair value on a recurring basiswere as follows:

(in thousands)			Level 1		Level 2		Total
At March 31, 2012
Assets
	Money market investments(1)		$	―	$	159,324	$	159,324
	Marketable equity securities(3)			365,523		―		365,523
	Other current investments(4)			13,045		24,238		37,283
		Total Financial Assets	$	378,568	$	183,562	$	562,130
Liabilities
	Deferred compensation plan liabilities(6)		$	―	$	60,940	$	60,940
	7.25% unsecured notes(7)			―		465,288		465,288
	AUD 50M borrowing(7)			―		51,717		51,717
	Interest rate swap(8)			―		21		21
		Total Financial Liabilities	$	―	$	577,966	$	577,966

At December 31, 2011
Assets
	Money market investments(2)		$	―	$	180,136	$	180,136
	Marketable equity securities(3)			303,201		―		303,201
	Other current investments(4)			15,223		20,250		35,473
	Interest rate swap(5)			―		14		14
		Total Financial Assets	$	318,424	$	200,400	$	518,824
Liabilities
	Deferred compensation plan liabilities(6)		$	―	$	63,403	$	63,403
	7.25% unsecured notes(7)			―		460,500		460,500
	AUD 50M borrowing(7)			―		51,012		51,012
		Total Financial Liabilities	$	―	$	574,915	$	574,915

____________

(1)The Company's money market investments at March 31, 2012 are included in cash and cash equivalents.

(2)The Company's money market investments at December 31, 2011 are included in cash, cash equivalents and restricted cash.

(3)The Company's investments in marketable equity securities are classified as available-for-sale.

(4)Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year).

(5)Included in Deferred charges and other assets. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

(6)Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits.

(7)See Note 6 for carrying amount of these notes and borrowing.

(8)Included in Other liabilities. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

For assets that are measured using quoted prices in active markets, the total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are primarily valued by reference to quoted prices of similar assets or liabilities in active markets, adjusted for any terms specific to that asset or liability.

XML

Document and Entity Information	3 Months Ended
	Mar. 31, 2012	May 04, 2012 Class A Common Stock [Member]	May 04, 2012 Class B Common Stock [Member]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q1
Trading Symbol	wpo
Entity Registrant Name	WASHINGTON POST CO
Entity Central Index Key	0000104889
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,229,383	6,389,451

XML

Business Segments

3 Months Ended

Mar. 31, 2012

Business Segments [Abstract]

Business Segments [Text Block]

12. BUSINESS SEGMENTS

The Company has eight reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International, Kaplan Ventures, cable television, newspaper publishing, television broadcasting and other businesses.

Education.Kaplan sold EduNeering in April 2012, KLT in February 2012, KCS in October 2011 and KVE in July 2011; therefore, the education division's operating results exclude these businesses.Also, Kaplan's Colloquy and U.S. Pathways business moved from Kaplan Ventures to Kaplan International. Segment operating results of the education division have been restated to reflect these changes.

The following table summarizes the quarterly financial information related to each of the Company's business segments:

		March 31,		April 3,		July 3,		October 2,		December 31,
(in thousands)		2012		2011		2011		2011		2011
Operating Revenues
	Education	$	553,401	$	618,929	$	616,962	$	608,256	$	587,775
	Cable television		190,210		190,280		191,231		187,892		190,818
	Newspaper publishing		142,321		154,997		162,772		149,257		181,013
	Television broadcasting		81,497		72,183		84,940		73,830		88,253
	Other businesses		6,015		6,662		6,095		6,257		7,121
	Corporate office		―		―		―		―		―
	Intersegment elimination		(968)		(1,139)		(742)		(480)		(1,455)
		$	972,476	$	1,041,912	$	1,061,258	$	1,025,012	$	1,053,525
Income (Loss) From Operations
	Education	$	(13,188)	$	20,049	$	21,468	$	18,768	$	30,573
	Cable television		32,777		37,707		40,425		36,795		41,917
	Newspaper publishing		(22,560)		(12,827)		(2,918)		(9,897)		7,442
	Television broadcasting		30,999		19,591		32,571		24,073		40,854
	Other businesses		(5,251)		(5,039)		(5,014)		(18,126)		(6,608)
	Corporate office		(5,308)		(2,928)		(4,433)		1,069		(8,130)
		$	17,469	$	56,553	$	82,099	$	52,682	$	106,048
Equity in Earnings of Affiliates, Net			3,888		3,737		3,138		(1,494)		568
Interest Expense, Net			(8,094)		(6,979)		(6,963)		(7,673)		(7,464)
Other Income (Expense), Net			8,588		(24,032)		(2,591)		(29,650)		1,073
Income from Continuing Operations Before Income Taxes		$	21,851	$	29,279	$	75,683	$	13,865	$	100,225
Depreciation of Property, Plant and Equipment
	Education	$	20,862	$	20,175	$	21,491	$	20,510	$	22,298
	Cable television		32,197		31,786		31,533		31,661		31,322
	Newspaper publishing		6,236		6,900		6,540		6,453		6,443
	Television broadcasting		3,125		3,110		3,134		3,137		3,067
	Other businesses		81		81		84		79		81
	Corporate office		―		144		100		―		―
		$	62,501	$	62,196	$	62,882	$	61,840	$	63,211
Amortization of Intangible Assets and
	Impairment of Goodwill and Other Intangible Assets
	Education	$	3,243	$	4,420	$	5,049	$	5,576	$	4,401
	Cable television		54		73		66		62		66
	Newspaper publishing		183		290		289		290		182
	Television broadcasting		―		―		―		―		―
	Other businesses		457		933		934		14,182		1,748
	Corporate office		―		―		―		―		―
		$	3,937	$	5,716	$	6,338	$	20,110	$	6,397
Net Pension Expense (Credit)
	Education	$	2,392	$	1,552	$	1,652	$	1,655	$	1,486
	Cable television		530		518		497		455		454
	Newspaper publishing(1)		8,611		6,705		5,288		5,244		8,063
	Television broadcasting		960		646		335		325		363
	Other businesses		19		17		17		17		17
	Corporate office		(9,298)		(9,297)		(9,247)		(9,185)		(9,254)
		$	3,214	$	141	$	(1,458)	$	(1,489)	$	1,129
(1) Includes a $2.4 million charge in the fourth quarter of 2011 related to the withdrawal from a multiemployer pension plan.

The following table summarizes financial information related to each of the Company's business segments for the fiscal years 2011 and 2010:

		Fiscal Year Ended
		December 31,		January 2,
(in thousands)		2011		2011
Operating Revenues
	Education	$	2,431,922	$	2,830,187
	Cable television		760,221		759,884
	Newspaper publishing		648,039		680,373
	Television broadcasting		319,206		342,164
	Other businesses		26,135		46,395
	Corporate office		―		―
	Intersegment elimination		(3,816)		(7,054)
		$	4,181,707	$	4,651,949
Income (Loss) from Operations
	Education	$	90,858	$	351,337
	Cable television		156,844		163,945
	Newspaper publishing		(18,200)		(9,826)
	Television broadcasting		117,089		121,348
	Other businesses		(34,787)		(34,966)
	Corporate office		(14,422)		(24,572)
		$	297,382	$	567,266
Equity in Earnings (Losses) of Affiliates, Net			5,949		(4,133)
Interest Expense, Net			(29,079)		(27,927)
Other (Expense) Income, Net			(55,200)		7,515
Income from Continuing Operations Before Income Taxes		$	219,052	$	542,721
Depreciation of Property, Plant and Equipment
	Education	$	84,474	$	74,248
	Cable television		126,302		124,834
	Newspaper publishing		26,336		30,341
	Television broadcasting		12,448		12,720
	Other businesses		325		270
	Corporate office		244		1,159
		$	250,129	$	243,572
Amortization of Intangible Assets and Impairment of Goodwill and Other Intangible Assets
	Education	$	19,446	$	19,279
	Cable television		267		327
	Newspaper publishing		1,051		1,223
	Television broadcasting		―		―
	Other businesses		17,797		31,263
	Corporate office		―		―
		$	38,561	$	52,092
Net Pension (Credit) Expense
	Education	$	6,345	$	5,707
	Cable television		1,924		1,919
	Newspaper publishing(1)		25,300		42,287
	Television broadcasting		1,669		1,113
	Other businesses		68		65
	Corporate office		(36,983)		(34,599)
		$	(1,677)	$	16,492
(1) Includes a $2.4 and $20.4 million charge in 2011 and 2010, respectively, related to the withdrawal from a multiemployer pension plan.

Asset information for the Company's business segments are as follows:

			As of
		March 31,		December 31,
(in thousands)		2012		2011
Identifiable Assets
	Education	$	1,877,759	$	2,176,240
	Cable television		1,150,124		1,145,596
	Newspaper publishing		83,641		118,253
	Television broadcasting		415,787		421,764
	Other businesses		9,811		11,190
	Corporate office		976,672		823,641
		$	4,513,794	$	4,696,684
Investments in Marketable Equity Securities		$	365,523	$	303,201
Investments in Affiliates			19,329		17,101
Assets of Discontinued Operations			41,177		―
Total Assets		$	4,939,823	$	5,016,986

The following table summarizes the quarterly financial information related to the reportable segments within the Company's education division:

		March 31,		March 31,		June 30,		September 30,		December 31,
(in thousands)		2012		2011		2011		2011		2011
Operating Revenues
	Higher education	$	308,384	$	386,883	$	358,312	$	330,856	$	323,531
	Test preparation		62,829		73,365		83,197		79,630		66,901
	Kaplan international		176,385		152,135		169,016		192,609		190,820
	Kaplan ventures		6,121		7,215		6,591		6,645		7,014
	Kaplan corporate and other		1,157		1,117		1,065		1,293		1,110
	Intersegment elimination		(1,475)		(1,786)		(1,219)		(2,777)		(1,601)
		$	553,401	$	618,929	$	616,962	$	608,256	$	587,775
(Loss) Income from Operations
	Higher education	$	8,954	$	50,650	$	45,157	$	25,083	$	28,025
	Test preparation		(10,219)		(12,676)		(11,597)		(4,745)		520
	Kaplan international		3,423		(682)		8,642		10,775		22,771
	Kaplan ventures		(1,261)		(974)		(2,079)		(2,034)		(311)
	Kaplan corporate and other		(14,279)		(16,038)		(18,673)		(9,231)		(20,605)
	Intersegment elimination		194		(231)		18		(1,080)		173
		$	(13,188)	$	20,049	$	21,468	$	18,768	$	30,573
Depreciation of Property, Plant and Equipment
	Higher education	$	11,757	$	11,241	$	11,897	$	11,825	$	13,416
	Test preparation		4,315		4,449		3,796		3,445		3,799
	Kaplan international		4,200		3,468		4,752		4,384		4,350
	Kaplan ventures		145		186		181		173		198
	Kaplan corporate and other		445		831		865		683		535
		$	20,862	$	20,175	$	21,491	$	20,510	$	22,298

The following table summarizes financial information related to the reportable segments of the Company's education division segments for the fiscal years 2011 and 2010:

		Fiscal Year Ended
(in thousands)		2011		2010
Operating Revenues
	Higher education	$	1,399,582	$	1,905,038
	Test preparation		303,093		314,879
	Kaplan international		704,580		587,780
	Kaplan ventures		27,465		25,348
	Kaplan corporate and other		4,585		5,537
	Intersegment elimination		(7,383)		(8,395)
		$	2,431,922	$	2,830,187
Income (Loss) from Operations
	Higher education	$	148,915	$	406,880
	Test preparation		(28,498)		(32,583)
	Kaplan international		41,506		49,309
	Kaplan ventures		(5,398)		(8,170)
	Kaplan corporate and other		(64,547)		(63,865)
	Intersegment elimination		(1,120)		(234)
		$	90,858	$	351,337
Depreciation of Property, Plant and Equipment
	Higher education	$	48,379	$	42,412
	Test preparation		15,489		14,095
	Kaplan international		16,954		12,993
	Kaplan ventures		738		897
	Kaplan corporate and other		2,914		3,851
		$	84,474	$	74,248

Identifiable assets for the Company's education division consist of the following:

		As of
		March 31,		December 31,
(in thousands)		2012		2011
Identifiable Assets
	Higher education	$	634,610	$	908,268
	Test preparation		325,247		330,956
	Kaplan international		830,506		809,702
	Kaplan ventures		29,304		30,568
	Kaplan corporate and other		58,092		96,746
		$	1,877,759	$	2,176,240

XML

Condensed Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 294,991	$ 381,099
Restricted cash	23,401	25,287
Investments in marketable equity securities and other investments	402,806	338,674
Accounts receivable, net	359,099	392,725
Income taxes receivable	4,815	16,990
Deferred income taxes	1,143	13,343
Inventories	4,555	6,571
Other current assets	75,578	70,936
Current assets of discontinued operations	7,171	0
Total Current Assets	1,173,559	1,245,625
Property, Plant and Equipment, Net	1,129,131	1,152,390
Investments In Affiliates	19,329	17,101
Goodwill, Net	1,404,783	1,414,997
Indefinite-Lived Intangible Assets, Net	530,753	530,641
Amortized Intangible Assets, Net	52,737	54,622
Prepaid Pension Cost	536,521	537,262
Deferred Charges and Other Assets	59,004	64,348
Noncurrent Assets of Discontinued Operations	34,006	0
Total Assets	4,939,823	5,016,986
Liabilities and Equity
Accounts payable and accrued liabilities	492,880	495,041
Deferred revenue	380,811	387,532
Dividends declared	18,883	0
Short-term borrowings	3,250	112,983
Current liabilities of discontinued operations	16,348	0
Total Current Liabilities	912,172	995,556
Postretirement Benefits Other Than Pensions	68,749	67,864
Accrued Compensation and Related Benefits	222,416	228,304
Other Liabilities	112,655	107,741
Deferred Income Taxes	525,503	545,361
Long-Term Debt	453,128	452,229
Noncurrent Liabilities of Discontinued Operations	470	0
Total Liabilities	2,295,093	2,397,055
Redeemable Noncontrolling Interest	6,810	6,740
Redeemable Preferred Stock	11,096	11,295
Preferred Stock	0	0
Common Stockholders' Equity
Common stock	20,000	20,000
Capital in excess of par value	250,469	252,767
Retained earnings	4,555,716	4,561,989
Accumulated other comprehensive income, net of tax
Cumulative foreign currency translation adjustment	29,674	21,338
Unrealized gain on available-for-sale securities	99,748	80,358
Unrealized gain on pensions and other postretirement plans	64,348	63,625
Cash flow hedge	(12)	8
Cost of Class B common stock held in treasury	(2,393,119)	(2,398,189)
Total Equity	2,626,824	2,601,896
Total Liabilities and Equity	$ 4,939,823	$ 5,016,986

XML

Debt

3 Months Ended

Mar. 31, 2012

Debt [Abstract]

Debt [Text Block]

6. DEBT

The Company's borrowings consist of the following:

	March 31,		December 31,
(in thousands)	2012		2011
7.25% unsecured notes due February 1, 2019	$	397,168	$	397,065
Commercial paper borrowings		―		109,671
AUD 50M borrowing		51,717		51,012
Other indebtedness		7,493		7,464
Total Debt		456,378		565,212
Less: current portion		(3,250)		(112,983)
Total Long-Term Debt	$	453,128	$	452,229

The Company's other indebtedness at March 31, 2012 andDecember 31, 2011 is atinterest ratesfrom 0% to 6% and matures from 2012 to 2016.

During the first quarter of 2012 and 2011, the Company had average borrowings outstanding of approximately $484.5 million and $399.7 million, respectively, at average annual interest rates of approximately 7.0% and 7.2%. During the first quarter of 2012 and 2011, the Company incurred net interest expense of $8.1 million and $7.0 million, respectively.

At March 31, 2012, the fair value of the Company's 7.25% unsecured notes, based on quoted market prices, totaled $465.3 million, compared with the carrying amount of $397.2 million. At December 31, 2011, the fair value of the Company's 7.25% unsecured notes, based on quoted market prices, totaled $460.5 million, compared with the carrying amount of $397.1 million. The carrying value of the Company's other unsecured debt at March 31, 2012 approximates fair value.

XML

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets [Text Block]

5. GOODWILL AND OTHER INTANGIBLE ASSETS

Amortization of intangible assets for the threemonths ended March 31, 2012 and April 3, 2011 was $4.3 million and $6.8 million, respectively. Amortization of intangible assets is estimated to be approximately $13 million for the remainder of 2012, $13 million in 2013, $8 million in 2014, $7 million in 2015, $6 million in 2016, $3 million in 2017 and $3 million thereafter.

The changes in the carrying amount of goodwill, by segment, for the threemonths ended March 31, 2012 were as follows:

				Cable		Newspaper		Television		Other
(in thousands)		Education		Television		Publishing		Broadcasting		Businesses		Total
Balance as of December 31, 2011
	Goodwill	$	1,116,615	$	85,488	$	81,183	$	203,165	$	100,152	$	1,586,603
	Accumulated impairment losses		(8,492)		―		(65,772)		―		(97,342)		(171,606)
			1,108,123		85,488		15,411		203,165		2,810		1,414,997
Acquisitions			5,143		―		―		―		―		5,143
Dispositions			(4,660)		―		―		―		―		(4,660)
Reclassification to discontinued operations			(22,713)		―		―		―		―		(22,713)
Foreign currency exchange rate changes and other			12,016		―		―		―		―		12,016
Balance as of March 31, 2012
	Goodwill		1,097,909		85,488		81,183		203,165		100,152		1,567,897
	Accumulated impairment losses		―		―		(65,772)		―		(97,342)		(163,114)
		$	1,097,909	$	85,488	$	15,411	$	203,165	$	2,810	$	1,404,783

The changes in carrying amount of goodwill at the Company's education division for the threemonths ended March 31, 2012 were as follows:

		Higher		Test		Kaplan		Kaplan
(in thousands)		Education		Preparation		International		Ventures		Total
Balance as of December 31, 2011
	Goodwill	$	409,128	$	152,187	$	515,936	$	39,364	$	1,116,615
	Accumulated impairment losses		―		―		―		(8,492)		(8,492)
			409,128		152,187		515,936		30,872		1,108,123
Acquisitions			―		―		5,143		―		5,143
Dispositions			―		―		―		(4,660)		(4,660)
Reclassification to discontinued operations			―		―		―		(22,713)		(22,713)
Foreign currency exchange rate changes and other			55		―		10,791		1,170		12,016
Balance as of March 31, 2012
	Goodwill		409,183		152,187		531,870		4,669		1,097,909
	Accumulated impairment losses		―		―		―		―		―
		$	409,183	$	152,187	$	531,870	$	4,669	$	1,097,909

Other intangible assets consist of the following:

			As of March 31, 2012						As of December 31, 2011
			Gross				Net		Gross				Net
		Useful Life	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(in thousands)		Range	Amount		Amortization		Amount		Amount		Amortization		Amount
Amortized Intangible Assets
	Non-compete agreements	2-5 years	$	14,362	$	11,165	$	3,197	$	14,493	$	10,764	$	3,729
	Student and customer relationships	2-10 years		63,851		36,100		27,751		75,734		47,888		27,846
	Databases and technology	3-5 years		10,514		8,591		1,923		10,514		8,159		2,355
	Trade names and trademarks	2-10 years		32,564		15,778		16,786		36,222		18,936		17,286
	Other	1-25 years		9,604		6,524		3,080		9,971		6,565		3,406
			$	130,895	$	78,158	$	52,737	$	146,934	$	92,312	$	54,622
Indefinite-Lived Intangible Assets
	Franchise agreements		$	496,321					$	496,321
	Wireless licenses			22,150						22,150
	Licensure and accreditation			7,862						7,862
	Other			4,420						4,308
			$	530,753					$	530,641

XML

Debt (Tables)

3 Months Ended

Mar. 31, 2012

Debt [Abstract]

Components of Debt [Table Text Block]

	March 31,		December 31,
(in thousands)	2012		2011
7.25% unsecured notes due February 1, 2019	$	397,168	$	397,065
Commercial paper borrowings		―		109,671
AUD 50M borrowing		51,717		51,012
Other indebtedness		7,493		7,464
Total Debt		456,378		565,212
Less: current portion		(3,250)		(112,983)
Total Long-Term Debt	$	453,128	$	452,229

XML

Organization and Basis of Presentation (Policy)

3 Months Ended

Mar. 31, 2012

Organization, Basis Of Presentation And Recent Accounting Pronouncements [Abstract]

Financial Periods

Financial Periods – In the fourth quarter of 2011, the Company changed its fiscal quarter from a thirteen week quarter ending on the Sunday nearest the calendar quarter-end to a quarterly month end. The fiscal quarters for 2012 and 2011 ended on March 31, 2012 and April 3, 2011, respectively. Subsidiaries of the Company report on a calendar-quarter basis, with the exception of most of the newspaper publishing operations, which report on a thirteen week quarter ending on the Sunday nearest the calendar quarter-end.

Basis of Presentation

Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations, and cash flows as of and for the periods presented herein. The Company's results of operations for the quarterly periods ended March 31,2012 and April 3,2011 may not be indicative of the Company's future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2011.

The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.

Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain Kaplan businesses as discontinued operations for all periods presented.

Use of Estimates in the Preparation of the Condensed Financial Statements

Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates.

Assets Held for Sale

Assets Held for Sale – An asset or business is classified as held for sale when (i) management commits to a plan to sell the asset or business; (ii) the asset or business is available for immediate sale in its present condition; (iii) the asset or business is actively marketed for sale at a reasonable price; (iv) the sale is expected to be completed within one year; and (v) it is unlikely significant changes to the plan will be made or that the plan will be withdrawn. The assets and related liabilities are aggregated and reported separately in the Company's condensed consolidated balance sheet.

XML

Other Non-Operating Income (Expense)

3 Months Ended

Mar. 31, 2012

Other Non-Operating Income (Expense) [Abstract]

Other Non-Operating Income (Expense) [Text Block]

9. OTHER NON-OPERATING INCOME (EXPENSE)

A summary of non-operating income (expense) for the three months ended March 31, 2012 and April 3, 2011, is as follows:

		March 31,		April 3,
(in thousands)		2012		2011
Gain on sale of cost method investments		$	5,817	$	3,832
Foreign currency gains, net			2,660		2,701
Impairment write-down on a marketable equity security			―		(30,696)
Other, net			111		131
	Total Other Non-Operating Income (Expense)	$	8,588	$	(24,032)

XML

Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. EARNINGS PER SHARE

The Company's earnings per share from continuing operations (basic and diluted) for the first quarter of 2012 and 2011 are presented below:

			Three Months Ended
			March 31,		April 3,
(in thousands, except per share amounts)			2012		2011
Income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,830	$	17,904
Less: Amount attributable to participating securities				(501)		(162)
Basic income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,329	$	17,742
Plus: Amount attributable to participating securities				501		162
Diluted income from continuing operations attributable to The Washington Post Company
	common stockholders		$	10,830	$	17,904
Basic weighted average shares outstanding				7,514		8,046
Plus: Effect of dilutive shares related to stock options and restricted stock				101		73
Diluted weighted average shares outstanding				7,615		8,119
Income Per Share from Continuing Operations Attributable to The Washington Post Company
	Common Stockholders:
		Basic	$	1.37	$	2.21
		Diluted	$	1.37	$	2.21

For the first quarter of 2012, the basic earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the if-converted method for participating securities, resulting in the presentation of the lower amount in diluted earnings per share. The first quarter of 2012 and 2011 diluted earnings per share amounts exclude the effects of 115,294 and 79,850stock options outstanding, respectively, as their inclusion would be antidilutive.

In the first quarter of 2012 and 2011, the Company declared regular dividends totaling $4.90and $4.70 per share

XML

Pension and Postretirement Plans

3 Months Ended

Mar. 31, 2012

Pension and Postretirement Plans [Abstract]

Pension and Postretirement Plans [Text Block]

8. PENSIONAND POSTRETIREMENT PLANS

Defined Benefit Plans. The total cost arising from the Company's defined benefit pension plans for the first quarter of 2012 and 2011, consists of the following components:

					Supplemental Executive
	Pension Plans				Retirement Plan
	March 31,		April 3,		March 31,		April 3,
(in thousands)	2012		2011		2012		2011
Service cost	$	9,107	$	7,214	$	367	$	380
Interest cost		14,591		15,105		1,060		1,084
Expected return on assets		(24,012)		(23,489)		―		―
Amortization of prior service cost		937		881		14		65
Recognized actuarial loss		1,569		―		458		353
Net Periodic Cost (Benefit)		2,192		(289)		1,899		1,882
Early retirement program expense		1,022		430		―		―
Total Cost	$	3,214	$	141	$	1,899	$	1,882

In the first quarter of 2012, the Company offered a Voluntary Retirement Incentive Program to certain employees of Post-Newsweek Media and recorded early retirement program expense of $1.0 million. In the first quarter of 2011, the Company offered a Voluntary Retirement Incentive Program to certain employees of Robinson Terminal Warehouse and recorded early retirement program expense of $0.4 million. The early retirement program expense for these programs is funded from the assets of the Company's pension plans.

Defined Benefit Plan Assets. The Company's defined benefit pension obligations are funded by a portfolio made up of a relatively small number of stocks and high-quality fixed-income securities that are held by a third-party trustee. As of March 31,2012 and December 31, 2011, the assets of the Company's pension plans were allocated as follows:

	March 31,			December 31,
	2012			2011
U.S. equities		69	%		69	%
U.S. fixed income		10	%		10	%
International equities		21	%		21	%
		100	%		100	%

Essentially all of the assets are actively managed by two investment companies. The goal of the investment managers is to produce moderate long-term growth in the value of these assets, while protecting them against large decreases in value. Both of these managers may invest in a combination of equity and fixed-income securities and cash. The managers are not permitted to invest in securities of the Company or in alternative investments. The investment managers cannot invest more than 20% of the assets at the time of purchase in the stock of Berkshire Hathaway or more than 10% of the assets in the securities of any other single issuer, except for obligations of the U.S. Government, without receiving prior approval by the Plan administrator. As of March 31, 2012, the managers can invest no more than 24% of the assets in international stocks at the time the investment is made, and no less than 10% of the assets could be invested in fixed-income securities. None of the assets is managed internally by the Company.

In determining the expected rate of return on plan assets, the Company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the Company may consult with and consider the input of financial and other professionals in developing appropriate return benchmarks.

The Company evaluated its defined benefit pension plan asset portfolio for the existence of significant concentrations (defined as greater than 10% of plan assets) of credit risk as of March 31,2012. Types of concentrations that were evaluated include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country and individual fund. At March 31,2012 the Company held common stock in one investment which exceeded 10% of total plan assets. This investment was valued at $237.5 million and $222.4 million at March 31,2012 and December 31, 2011, respectively, or approximately 12% of total plan assets at these respective dates. Assets also included $163.6 million and $154.0 million of Berkshire Hathaway common stock at March 31,2012 and December 31, 2011, respectively. At March 31,2012 the Company held investments in one foreign country which exceeded 10% of total plan assets. These investments were valued at $257.3 million and $241.4 million at March 31,2012 and December 31, 2011, respectively, or approximately 13%of total plan assets at these respective dates.

Other Postretirement Plans. The total benefit arising from the Company's postretirement plans for the first quarter of 2012 and 2011, consists of the following components:

	March 31,		April 3,
(in thousands)	2012		2011
Service cost	$	778	$	718
Interest cost		684		766
Amortization of prior service credit		(1,402)		(1,413)
Recognized actuarial gain		(370)		(480)
Total Periodic Benefit	$	(310)	$	(409)

XML

Contingencies

3 Months Ended

Mar. 31, 2012

Contingencies [Abstract]

Contingencies [Text Block]

10. CONTINGENCIES

Litigation and Legal Matters.The Company is involved in various legal proceedings that arise in the ordinary course of its business. Although the outcome of the legal claims and proceedings against the Company cannot be predicted with certainty, based on currently available information, management believes that there are no existing claims or proceedings that are likely to have a material effect on the Company's business, financial condition, results of operations or cash flows. Also, based on currently available information, management is of the opinion that the exposure to future material losses from existing legal proceedings is not reasonably possible, or that future material losses in excess of the amounts accrued are not reasonably possible.

A purported class action complaint was filed against the Company, Donald E. Graham and Hal S. Jones on October 28, 2010, in the U.S. District Court for the District of Columbia, by the Plumbers Local #200 Pension Fund. The complaint alleged that the Company and certain of its officers made materially false and misleading statements, or failed to disclose material facts relating to KHE, in violation of the U.S.Federal securities laws. The complaint sought damages, attorneys' fees, costs and equitable/injunctive relief. The Company moved to dismiss the complaint, and on December 23, 2011, the court granted the Company's motion and dismissed the case with prejudice. On January 25, 2012, the Plaintiff filed a motion seeking leave to amend or alter that final judgment. The court granted the Plaintiff's motion to alter the dismissal and granted leave to file an amended complaint. The Company intends to file a motion to dismiss the amended complaint and will continue to vigorously defend against this action.

With regard to the previously disclosed Gatsiopoulos case, the federal False Claims Act allegations have been dismissed and the employment claim has been resolved.

DOE Program Reviews.The U.S. Department of Education (DOE) has undertaken program reviews at various KHE campus locations and at Kaplan University. Currently, there are three pending program reviews, including Kaplan University. In addition, the Company is awaiting the DOE's final report on the program review at KHE's Broomall, PA, location. The results of these open reviews and their impact on Kaplan's operations are uncertain.

Other.In December 2011, the United Kingdom Border Agency (UKBA) conducted a compliance review at Kaplan UK' s Borough High Street Center in London, England. The review focused on Kaplan UK's compliance with regulations regarding Tier 4 students, who are adult students seeking to study in the U.K. Kaplan UK is fully cooperating with this inquiry and is in the process of responding to requests for additional information. In cases of noncompliance, the UKBA has the authority to take a range of actions to limit, suspend or revoke an institution's ability to sponsor foreign students.At this time, Kaplan cannot predict what determinations the UKBA will make or the ultimate impact of this review on Kaplan UK.

Additionally, UKBA issued revised immigration rules that became operational on April 21, 2011. Students from outside the European Economic Area (EEA) and Switzerland who were issued a Confirmation of Acceptance for Studies (CAS) after July 4, 2011 will be given permission to work part-time during their studies only if they attend an institution which qualifies as a Higher Education Institution (HEI). Many of the Kaplan UK international students currently work part-time. Kaplan UK is not in receipt of public funding for the courses upon which international students study and, therefore, does not qualify as an HEI. Also, certain Kaplan UK schools have gained, applied for or are in the process of applying for Highly Trusted Sponsor status (HTS). Without HTS, these schools cannot issue a CAS to potential incoming international students starting in April 2012. These new rules have the potential to adversely impact the number of international students studying at Kaplan UK.

XML

Investments (Investments in Marketable Equity Securities) (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Investments [Abstract]
Total cost	$ 199,277	$ 169,271
Net unrealized gains	166,246	133,930
Total fair value	$ 365,523	$ 303,201

XML

Pension and Postretirement Plans (Details 3)	Mar. 31, 2012	Dec. 31, 2011
Allocation of Pension Plan Assets [Line Items]
Total	100.00%	100.00%
U.S. Equities [Member]
Allocation of Pension Plan Assets [Line Items]
Equity securities	69.00%	69.00%
U.S. Fixed Income [Member]
Allocation of Pension Plan Assets [Line Items]
U.S. fixed income	10.00%	10.00%
International Equities [Member]
Allocation of Pension Plan Assets [Line Items]
Equity securities	21.00%	21.00%

XML

Investments (Tables)

3 Months Ended

Mar. 31, 2012

Investments [Abstract]

Investments in Marketable Equity Securities [Table Text Block]

	March 31,		December 31,
(in thousands)	2012		2011
Total cost	$	199,277	$	169,271
Net unrealized gains		166,246		133,930
Total Fair Value	$	365,523	$	303,201

XML

Other Non-Operating Income (Expense) (Tables)

3 Months Ended

Mar. 31, 2012

Other Non-Operating Income (Expense) [Abstract]

Summary of Other Non-Operating Income (Expense) [Table Text Block]

		March 31,		April 3,
(in thousands)		2012		2011
Gain on sale of cost method investments		$	5,817	$	3,832
Foreign currency gains, net			2,660		2,701
Impairment write-down on a marketable equity security			―		(30,696)
Other, net			111		131
	Total Other Non-Operating Income (Expense)	$	8,588	$	(24,032)

XML

Pension and Postretirement Plans (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Apr. 03, 2011
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 9,107	$ 7,214
Interest cost	14,591	15,105
Supplemental Executive Retirement Plan (SERP) [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	367	380
Interest cost	1,060	1,084
Other Postretirement Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	778	718
Interest cost	$ 684	$ 766

XML

Goodwill and Other Intangible Assets (Other Intangible Assets) (Details) 2 (USD $) In Thousands, unless otherwise specified	3 Months Ended	12 Months Ended
	Mar. 31, 2012 year	Dec. 31, 2011 year
Amortized intangible assets [Abstract]
Gross Carrying Amount	$ 130,895	$ 146,934
Accumulated Amortization	78,158	92,312
Net Carrying Amount	52,737	54,622
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-Lived Intangible Assets, Net	530,753	530,641
Franchise Agreements [Member]
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-Lived Intangible Assets, Net	496,321	496,321
Wireless Licenses [Member]
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-Lived Intangible Assets, Net	22,150	22,150
Licensure and Accreditation [Member]
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-Lived Intangible Assets, Net	7,862	7,862
Other [Member]
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items]
Indefinite-Lived Intangible Assets, Net	4,420	4,308
Non-compete Agreements [Member]
Amortized intangible assets [Abstract]
Useful Life, minimum (in years)	2	2
Useful Life, maximum (in years)	5	5
Gross Carrying Amount	14,362	14,493
Accumulated Amortization	11,165	10,764
Net Carrying Amount	3,197	3,729
Student and Customer Relationships [Member]
Amortized intangible assets [Abstract]
Useful Life, minimum (in years)	2	2
Useful Life, maximum (in years)	10	10
Gross Carrying Amount	63,851	75,734
Accumulated Amortization	36,100	47,888
Net Carrying Amount	27,751	27,846
Databases and Technology [Member]
Amortized intangible assets [Abstract]
Useful Life, minimum (in years)	3	3
Useful Life, maximum (in years)	5	5
Gross Carrying Amount	10,514	10,514
Accumulated Amortization	8,591	8,159
Net Carrying Amount	1,923	2,355
Trade Names and Trademarks [Member]
Amortized intangible assets [Abstract]
Useful Life, minimum (in years)	2	2
Useful Life, maximum (in years)	10	10
Gross Carrying Amount	32,564	36,222
Accumulated Amortization	15,778	18,936
Net Carrying Amount	16,786	17,286
Other [Member]
Amortized intangible assets [Abstract]
Useful Life, minimum (in years)	1	1
Useful Life, maximum (in years)	25	25
Gross Carrying Amount	9,604	9,971
Accumulated Amortization	6,524	6,565
Net Carrying Amount	$ 3,080	$ 3,406

XML

Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Apr. 03, 2011
Cash Flows from Operating Activities:
Net Income	$ 31,568	$ 15,629
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property, plant and equipment	63,254	63,914
Amortization of intangible assets	4,278	6,808
Goodwill impairment charges		0
Net pension expense (benefit)	2,192	(289)
Early retirement program expense	1,022	430
Foreign exchange gain	(2,660)	(2,701)
Net loss on sale of a business	3,082	0
Net loss on write-down of marketable equity securities	0	30,696
Equity in earnings of affiliates, net of distributions	(3,691)	(3,737)
Benefit for deferred income taxes	(23,744)	(3,701)
Net gain on sale or write-down of property, plant and equipment and other assets	(7,203)	(2,021)
Change in assets and liabilities:
Decrease in accounts receivable, net	36,716	54,448
Decrease in inventories	2,016	604
Decrease in accounts payable and accrued liabilities	(22,828)	(90,460)
Increase in deferred revenue	3,647	11,127
Decrease in income taxes receivable	11,019	3,521
Increase in other assets and other liabilities, net	(14,817)	(35,041)
Other	165	132
Net Cash Provided by Operating Activities	84,016	49,359
Cash Flows from Investing Activities:
Purchases of property, plant and equipment	(44,875)	(39,275)
Purchase of marketable equity securities and other investments	(23,003)	0
Investments in certain businesses, net of cash acquired	(2,545)	(9,673)
Proceeds from sale of property, plant and equipment and other assets	5,827	3,867
Net proceeds from sale of business	1,875	0
Other	1,571	269
Net Cash Used in Investing Activities	(61,150)	(44,812)
Cash Flows from Financing Activities:
Repayment of commercial paper, net	(109,671)	0
Dividends paid	(18,889)	(19,390)
Common shares repurchased	(136)	(121,395)
Other	16,459	25,247
Net Cash Used in Financing Activities	(112,237)	(115,538)
Effect of Currency Exchange Rate Change	3,263	2,421
Net Decrease in Cash and Cash Equivalents	(86,108)	(108,570)
Beginning Cash and Cash Equivalents	381,099	437,740
Ending Cash and Cash Equivalents	$ 294,991	$ 329,170

XML

Acquisitions and Dispositions

3 Months Ended

Mar. 31, 2012

Acquisitions And Dispositions [Abstract]

Acquisitions and Dispositions [Text Block]

4. ACQUISITIONS AND DISPOSITIONS

In the first quarter of 2012, Kaplan acquired two small businesses in its International division; the purchase price allocation mostly comprised goodwill and other intangible assets on a preliminary basis. In the first quarter of 2011, Kaplan made one small acquisition in its Kaplan Ventures division. The assets and liabilities of the companies acquired have been recorded at their estimated fair values at the date of acquisition.

Kaplan completed the sales of Kaplan Learning Technologies in February 2012 and EduNeering in April 2012, which were part of the Kaplan Ventures division.

XML

Summary of Quarterly Operating Results and Comprehensive Income (Unaudited) (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended					12 Months Ended
	Mar. 31, 2012	Dec. 31, 2011	Oct. 02, 2011	Jul. 03, 2011	Apr. 03, 2011	Dec. 31, 2011	Jan. 02, 2011
Operating Revenues [Abstract]
Education	$ 553,401	$ 587,775	$ 608,256	$ 616,962	$ 618,929	$ 2,431,922	$ 2,830,187
Advertising	170,750	213,255	170,552	193,352	177,385	754,544	833,605
Subscription Revenues	215,230	213,183	212,145	216,606	214,523	856,457	857,290
Other	33,095	39,312	34,059	34,338	31,075	138,784	130,867
Total operating revenues	972,476	1,053,525	1,025,012	1,061,258	1,041,912	4,181,707	4,651,949
Operating Costs and Expenses [Abstract]
Operating	471,199	477,027	499,111	500,766	476,081	1,952,985	1,911,564
Selling, general and administrative	417,370	400,842	391,269	409,173	441,366	1,642,650	1,877,455
Depreciation of property, plant and equipment	62,501	63,211	61,840	62,882	62,196	250,129	243,572
Amortization of intangible assets	3,937	6,397	8,187	6,338	5,716	26,638	24,615
Impairment of goodwill		0	11,923	0	0	11,923
Impairment of goodwill and other intangible assets							27,477
Total operating costs and expenses	955,007	947,477	972,330	979,159	985,359	3,884,325	4,084,683
Operating Income	17,469	106,048	52,682	82,099	56,553	297,382	567,266
Other income (expense) [Abstract]
Equity in earnings (losses) of affiliates, net	3,888	568	(1,494)	3,138	3,737	5,949	(4,133)
Interest income	1,069	1,174	994	997	982	4,147	2,576
Interest expense	(9,163)	(8,638)	(8,667)	(7,960)	(7,961)	(33,226)	(30,503)
Other income (expense), net	8,588	1,073	(29,650)	(2,591)	(24,032)	(55,200)	7,515
Income Loss From Continuing Operations Before Income Taxes	21,851	100,225	13,865	75,683	29,279	219,052	542,721
Provision for Income Taxes	10,500	41,000	16,800	27,900	10,900	96,600	219,500
Income (Loss) from Continuing Operations	11,351	59,225	(2,935)	47,783	18,379	122,452	323,221
Income (Loss) from Discontinued Operations, Net of Tax	20,217	2,506	(3,031)	(2,020)	(2,750)	(5,295)	(45,201)
Net Income (Loss)	31,568	61,731	(5,966)	45,763	15,629	117,157	278,020
Net (Income) Loss Attributable to Noncontrolling Interests	(70)	(17)	(16)	40	(14)	(7)	94
Net Income (Loss) Attributable to The Washington Post Company	31,498	61,714	(5,982)	45,803	15,615	117,150	278,114
Redeemable Preferred Stock Dividends	(451)	0	(226)	(230)	(461)	(917)	(922)
Net income (loss) attributable to The Washington Post Company common stockholders	31,047	61,714	(6,208)	45,573	15,154	116,233	277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations	10,830	59,208	(3,177)	47,593	17,904	121,528	322,393
Income (loss) from discontinued operations, net of tax	20,217	2,506	(3,031)	(2,020)	(2,750)	(5,295)	(45,201)
Net income (loss) attributable to The Washington Post Company common stockholders	$ 31,047	$ 61,714	$ (6,208)	$ 45,573	$ 15,154	$ 116,233	$ 277,192
Per Share Information Attributable to The Washington Post Company Common Stockholders
Basic income (loss) per common share from continuing operations	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.12
Basic income (loss) per common share from discontinued operations	$ 2.70	$ 0.33	$ (0.39)	$ (0.26)	$ (0.34)	$ (0.67)	$ (5.06)
Basic net (loss) income per common share	$ 4.07	$ 8.03	$ (0.82)	$ 5.74	$ 1.87	$ 14.70	$ 31.06
Average number of common shares outstanding, basic	7,514				8,046
Diluted income (loss) per common share from continuing operations	$ 1.37	$ 7.70	$ (0.43)	$ 6.00	$ 2.21	$ 15.37	$ 36.10
Diluted income (loss) per common share from discontinued operations	$ 2.70	$ 0.33	$ (0.39)	$ (0.26)	$ (0.34)	$ (0.67)	$ (5.06)
Diluted net income (loss) per common share	$ 4.07	$ 8.03	$ (0.82)	$ 5.74	$ 1.87	$ 14.70	$ 31.04
Average number of common shares outstanding, diluted	7,615				8,119

XML

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Measurements [Abstract]

Summary of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

(in thousands)			Level 1		Level 2		Total
At March 31, 2012
Assets
	Money market investments(1)		$	―	$	159,324	$	159,324
	Marketable equity securities(3)			365,523		―		365,523
	Other current investments(4)			13,045		24,238		37,283
		Total Financial Assets	$	378,568	$	183,562	$	562,130
Liabilities
	Deferred compensation plan liabilities(6)		$	―	$	60,940	$	60,940
	7.25% unsecured notes(7)			―		465,288		465,288
	AUD 50M borrowing(7)			―		51,717		51,717
	Interest rate swap(8)			―		21		21
		Total Financial Liabilities	$	―	$	577,966	$	577,966

At December 31, 2011
Assets
	Money market investments(2)		$	―	$	180,136	$	180,136
	Marketable equity securities(3)			303,201		―		303,201
	Other current investments(4)			15,223		20,250		35,473
	Interest rate swap(5)			―		14		14
		Total Financial Assets	$	318,424	$	200,400	$	518,824
Liabilities
	Deferred compensation plan liabilities(6)		$	―	$	63,403	$	63,403
	7.25% unsecured notes(7)			―		460,500		460,500
	AUD 50M borrowing(7)			―		51,012		51,012
		Total Financial Liabilities	$	―	$	574,915	$	574,915

____________

(1)The Company's money market investments at March 31, 2012 are included in cash and cash equivalents.

(2)The Company's money market investments at December 31, 2011 are included in cash, cash equivalents and restricted cash.

(3)The Company's investments in marketable equity securities are classified as available-for-sale.

(4)Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year).

(5)Included in Deferred charges and other assets. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

(6)Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits.

(7)See Note 6 for carrying amount of these notes and borrowing.

(8)Included in Other liabilities. The fair value utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates.

XML

Acquisitions and Dispositions (Narrative) (Details)	3 Months Ended
	Mar. 31, 2012 Kaplan International [Member] business	Apr. 03, 2011 Kaplan Ventures [Member] business
Business Acquisition [Line Items]
Number of businesses acquired	2	1

XML

Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2012

Discontinued Operations [Abstract]

Summarized Income (Loss) from Discontinued Operations, Net Of Tax [Table Text Block]

	March 31,		April 3,
(in thousands)	2012		2011
Operating revenues	$	6,791	$	21,700
Operating costs and expenses		(7,135)		(26,250)
Loss from discontinued operations		(344)		(4,550)
Benefit from income taxes		(22,500)		(1,800)
Net Income (Loss) from Discontinued Operations		22,156		(2,750)
Loss on sale of discontinued operations		(3,082)		―
Benefit from income taxes on sale of discontinued operations		(1,143)		―
Income (Loss) from Discontinued Operations, Net of Tax	$	20,217	$	(2,750)

2011 Quarterly Operating Results After Reclassifying Certain Operations As Discontinued Operations [Table Text Block]

		April 3,		July 3,		October 2,		December 31,
(in thousands, except per share amounts)		2011		2011		2011		2011
Operating Revenues
	Education	$	618,929	$	616,962	$	608,256	$	587,775
	Advertising		177,385		193,352		170,552		213,255
	Circulation and subscriber		214,523		216,606		212,145		213,183
	Other		31,075		34,338		34,059		39,312
			1,041,912		1,061,258		1,025,012		1,053,525
Operating Costs and Expenses
	Operating		476,081		500,766		499,111		477,027
	Selling, general and administrative		441,366		409,173		391,269		400,842
	Depreciation of property, plant and equipment		62,196		62,882		61,840		63,211
	Amortization of intangible assets		5,716		6,338		8,187		6,397
	Impairment of goodwill		―		―		11,923		―
			985,359		979,159		972,330		947,477
Income from Operations			56,553		82,099		52,682		106,048
	Equity in earnings (losses) of affiliates, net		3,737		3,138		(1,494)		568
	Interest income		982		997		994		1,174
	Interest expense		(7,961)		(7,960)		(8,667)		(8,638)
	Other (expense) income, net		(24,032)		(2,591)		(29,650)		1,073
Income from Continuing Operations before Income Taxes			29,279		75,683		13,865		100,225
Provision for Income Taxes			10,900		27,900		16,800		41,000
Income (Loss) from Continuing Operations			18,379		47,783		(2,935)		59,225
(Loss) Income from Discontinued Operations, Net of Tax			(2,750)		(2,020)		(3,031)		2,506
Net Income (Loss)			15,629		45,763		(5,966)		61,731
Net (Income) Loss Attributable to Noncontrolling Interests			(14)		40		(16)		(17)
Net Income (Loss) Attributable to The Washington Post Company			15,615		45,803		(5,982)		61,714
Redeemable Preferred Stock Dividends			(461)		(230)		(226)		―
Net Income (Loss) Attributable to The Washington Post Company
	Common Stockholders	$	15,154	$	45,573	$	(6,208)	$	61,714
Amounts Attributable to The Washington Post Company
	Common Stockholders
Income (loss) from continuing operations		$	17,904	$	47,593	$	(3,177)	$	59,208
(Loss) income from discontinued operations, net of tax			(2,750)		(2,020)		(3,031)		2,506
Net income (loss) attributable to the Washington Post
	Company common stockholders	$	15,154	$	45,573	$	(6,208)	$	61,714
Per Share Information Attributable to The Washington Post
	Company Common Stockholders
Basic income (loss) per common share from continuing operations		$	2.21	$	6.00	$	(0.43)	$	7.70
Basic (loss) income per common share from discontinued operations			(0.34)		(0.26)		(0.39)		0.33
Basic net income (loss) per common share		$	1.87	$	5.74	$	(0.82)	$	8.03
Diluted income (loss) per common share from continuing operations		$	2.21	$	6.00	$	(0.43)	$	7.70
Diluted (loss) income per common share from discontinued operations			(0.34)		(0.26)		(0.39)		0.33
Diluted net income (loss) per common share		$	1.87	$	5.74	$	(0.82)	$	8.03

Yearly Operating Results After Reclassifying Certain Operations As Discontinued Operations [Table Text Block]

		Fiscal Year Ended
		December 31,		January 2,
(in thousands, except per share amounts)		2011		2011
Operating Revenues
	Education	$	2,431,922	$	2,830,187
	Advertising		754,544		833,605
	Circulation and subscriber		856,457		857,290
	Other		138,784		130,867
			4,181,707		4,651,949
Operating Costs and Expenses
	Operating		1,952,985		1,911,564
	Selling, general and administrative		1,642,650		1,877,455
	Depreciation of property, plant and equipment		250,129		243,572
	Amortization of intangible assets		26,638		24,615
	Impairment of goodwill and other intangible assets		11,923		27,477
			3,884,325		4,084,683
Income from Operations			297,382		567,266
	Equity in earnings (losses) of affiliates, net		5,949		(4,133)
	Interest income		4,147		2,576
	Interest expense		(33,226)		(30,503)
	Other (expense) income, net		(55,200)		7,515
Income from Continuing Operations Before Income Taxes			219,052		542,721
Provision for Income Taxes			96,600		219,500
Income from Continuing Operations			122,452		323,221
Loss from Discontinued Operations, Net of Tax			(5,295)		(45,201)
Net Income			117,157		278,020
Net (Income) Loss attributable to noncontrolling interests			(7)		94
Net Income Attributable to The Washington Post Company			117,150		278,114
Redeemable Preferred Stock Dividends			(917)		(922)
Net Income Attributable to The Washington Post Company Common Stockholders		$	116,233	$	277,192
Amounts Attributable to The Washington Post Company Common Stockholders
Income from continuing operations		$	121,528	$	322,393
Loss from discontinued operations, net of tax			(5,295)		(45,201)
Net income attributable to the Washington Post Company common stockholders		$	116,233	$	277,192
Per Share Information Attributable to The Washington Post Company Common
	Stockholders
Basic income per common share from continuing operations		$	15.37	$	36.12
Basic loss per common share from discontinued operations			(0.67)		(5.06)
Basic net income per common share		$	14.70	$	31.06
Diluted income per common share from continuing operations		$	15.37	$	36.10
Diluted loss per common share from discontinued operations			(0.67)		(5.06)
Diluted net income per common share		$	14.70	$	31.04