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SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 29, 2014
SIGNIFICANT ACCOUNTING POLICIES  
Summary of depreciation expense with respect to property, plant and equipment

 

 

 

 

Quarters Ended

 

Six Months Ended

 

 

 

June 29,

 

June 30,

 

June 29,

 

June 30,

 

(in thousands)

 

2014

 

2013

 

2014

 

2013

 

Depreciation expense

 

 $

11,567

 

 $

15,442

 

 $

37,549

 

 $

31,427

 

Schedule of intangible assets (primarily advertiser lists, subscriber lists and developed technology) mastheads and goodwill

 

 

 

 

December 29,

 

Other

 

Amortization

 

June 29,

 

(in thousands)

 

2013

 

Adjustments

 

Expense

 

2014

 

Intangible assets subject to amortization

 

 $

835,461

 

 $

(2,207)

 

 $

—  

 

 $

833,254

 

Accumulated amortization

 

(567,737)

 

5,307

 

(28,672)

 

(591,102)

 

 

 

267,724

 

3,100

 

(28,672)

 

242,152

 

Mastheads

 

198,242

 

—  

 

—  

 

198,242

 

Goodwill

 

1,013,002

 

(16,887)

 

—  

 

996,115

 

Total

 

 $

1,478,968

 

 $

(13,787)

 

 $

(28,672)

 

 $

1,436,509

 

Summary of amortization expense with respect to intangible assets

 

 

 

 

Quarters Ended

 

Six Months Ended

 

 

 

June 29,

 

June 30,

 

June 29,

 

June 30,

 

(in thousands)

 

2014

 

2013

 

2014

 

2013

 

Amortization expense

 

 $

14,359

 

 $

14,251

 

 $

28,672

 

 $

28,502

 

Amortization expense for the five succeeding fiscal years

 

 

 

 

Amortization
Expense

 

Year

 

(in thousands)

 

2014 (remainder)

 

  $

24,293

 

2015

 

48,383

 

2016

 

48,012

 

2017

 

48,843

 

2018

 

47,268

 

2019

 

23,768

 

Schedule of accumulated other comprehensive loss ("AOCL") and reclassifications from AOCL, net of tax

 

 

(in thousands)

 

Minimum
Pension and
Post-
Retirement
Liability

 

Other
Comprehensive
Loss Related to
Equity
Investments

 

Total

 

Beginning balance - December 29, 2013

 

  $

(296,669)

 

  $

(8,232)

 

  $

(304,901)

 

Other comprehensive income before reclassifications

 

—  

 

754

 

754

 

Amounts reclassified from AOCL

 

3,763

 

—  

 

3,763

 

Other comprehensive income

 

3,763

 

754

 

4,517

 

Ending balance - June 29, 2014

 

  $

(292,906)

 

  $

(7,478)

 

  $

(300,384)

 

 

 

 

Amount Reclassified from AOCL (in thousands)

 

 

 

 

 

Quarters Ended

 

Six Months Ended

 

 

 

 

 

June 29,

 

June 30,

 

June 29,

 

June 30,

 

Affected Line in the Condensed

 

 

 

 

 

 

 

 

 

 

 

Consolidated Statements of

 

AOCL Component

 

2014

 

2013

 

2014

 

2013

 

Operations

 

Minimum pension and post-retirement liability

 

 $

3,135

 

 $

5,664

 

 $

6,271

 

 $

11,289

 

Compensation

 

 

 

(1,254)

 

(2,266)

 

(2,508)

 

(4,516)

 

Income tax provision

 

 

 

 $

1,881

 

 $

3,398

 

 $

3,763

 

 $

6,773

 

Net of tax

 

Summary of anti-dilutive stock options

 

 

 

 

Quarters Ended

 

Six Months Ended

 

 

 

June 29,

 

June 30,

 

June 29,

 

June 30,

 

(shares in thousands)

 

2014

 

2013

 

2014

 

2013

 

Anti-dilutive stock options

 

1,612

 

5,619

 

1,659

 

6,048

 

Schedule of cash paid for interest and income taxes

 

 

 

 

Six Months Ended

 

 

 

June 29,

 

June 30,

 

(in thousands)

 

2014

 

2013

 

Interest paid (net of amount capitalized)

 

  $

61,198

 

  $

65,736

 

Income taxes paid (net of refunds)

 

11,381

 

(2,861)