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SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 28, 2014
SIGNIFICANT ACCOUNTING POLICIES  
Summary of depreciation expense with respect to property, plant and equipment

 

 

 

 

 

Quarters Ended

 

Nine Months Ended

 

 

 

September 28,

 

September 29,

 

September 28,

 

September 29,

 

(in thousands)

 

2014

 

2013

 

2014

 

2013

 

Depreciation expense

 

 $

11,667 

 

 $

12,910 

 

 $

49,216 

 

 $

44,337 

 

 

 

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

 

 

 

December 29,

 

Disposition

 

Acquisition

 

Amortization

 

September 28,

 

(in thousands)

 

2013

 

Adjustments

 

Adjustments

 

Expense

 

2014

 

Intangible assets subject to amortization

 

 $

835,461 

 

 $

(5,307)

 

 $

3,100 

 

 $

—    

 

 $

833,254 

 

Accumulated amortization

 

(567,737)

 

5,307 

 

—    

 

(40,809)

 

(603,239)

 

 

 

267,724 

 

—    

 

3,100 

 

(40,809)

 

230,015 

 

Mastheads

 

198,242 

 

—    

 

—    

 

—    

 

198,242 

 

Goodwill

 

1,013,002 

 

(16,887)

 

—    

 

—    

 

996,115 

 

Total

 

 $

1,478,968 

 

 $

(16,887)

 

 $

3,100 

 

 $

(40,809)

 

 $

1,424,372 

 

 

 

Summary of amortization expense with respect to intangible assets

 

 

 

Quarters Ended

 

Nine Months Ended

 

 

 

September 28,

 

September 29,

 

September 28,

 

September 29,

 

(in thousands)

 

2014

 

2013

 

2014

 

2013

 

Amortization expense

 

 $

12,137 

 

 $

14,375 

 

 $

40,809 

 

 $

42,877 

 

 

 

Amortization expense for the five succeeding fiscal years

 

 

 

Amortization
Expense

 

Year

 

(in thousands)

 

2014 (remainder)

 

 $

12,140 

 

2015

 

48,357 

 

2016

 

47,986 

 

2017

 

48,907 

 

2018

 

47,275 

 

2019

 

23,769 

 

 

 

Schedule of components of accumulated other comprehensive loss and reclassifications, 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

 

—    

 

607 

 

607 

 

Amounts reclassified from AOCL

 

5,645 

 

—    

 

5,645 

 

Other comprehensive income

 

5,645 

 

607 

 

6,252 

 

Ending balance - September 28, 2014

 

 $

(291,024)

 

 $

(7,625)

 

 $

(298,649)

 

 

 

 

Amount Reclassified from AOCL (in thousands)

 

 

 

 

 

Quarters Ended

 

Nine Months Ended

 

 

 

 

 

September 28,

 

September 29,

 

September 28,

 

September 29,

 

Affected Line in the Condensed

AOCL Component

 

2014

 

2013

 

2014

 

2013

 

Consolidated Statements of
Operations

Minimum pension and post-retirement liability

 

 $

3,137 

 

 $

5,645 

 

 $

9,408 

 

 $

16,933 

 

Compensation

 

 

(1,255)

 

(2,258)

 

(3,763)

 

(6,773)

 

Income tax provision

 

 

 $

1,882 

 

 $

3,387 

 

 $

5,645 

 

 $

10,160 

 

Net of tax

 

 

 

Summary of anti-dilutive stock options

 

 

 

Quarters Ended

 

Nine Months Ended

 

 

September 28,

 

September 29,

 

September 28,

 

September 29,

(shares in thousands)

 

2014

 

2013

 

2014

 

2013

Anti-dilutive stock options

 

2,874 

 

4,990 

 

1,581 

 

4,936 

 

 

 

 

Schedule of cash paid for interest and income taxes

 

 

 

Nine Months Ended

 

 

September 28,

 

September 29,

(in thousands)

 

2014

 

2013

Interest paid (net of amount capitalized)

 

 $

77,995 

 

 $

82,990 

 

Income taxes paid (net of refunds)

 

67,233 

 

13,202