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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 30, 2012
Dec. 25, 2011
Dec. 26, 2010
Revenues      
Advertising $ 898,078 $ 954,531 $ 994,144
Circulation 952,968 862,982 851,077
Other 139,034 135,117 135,506
Total 1,990,080 1,952,630 1,980,727
Production costs:      
Raw materials 136,526 138,622 136,639
Wages and benefits 443,756 422,200 421,067
Other 251,946 249,747 248,768
Total production costs 832,228 810,569 806,474
Selling, general and administrative costs 901,405 886,232 909,909
Depreciation and amortization 96,758 94,224 96,620
Total operating costs 1,830,391 1,791,025 1,813,003
Pension settlement expense 48,729 [1] 0 0
Other expense 2,620 [2] 4,500 [3] 0
Impairment of assets 0 9,225 [4] 16,148
Pension withdrawal expense 0 4,228 [5] 6,268
Operating profit 108,340 143,652 145,308
Gain on sale of investments 220,275 [6] 71,171 [7] 9,128
Impairment of investments 5,500 [8] 0 0
Income from joint ventures 3,004 28 19,035
Premium on debt redemption 0 46,381 [9] 0
Interest expense, net 62,815 85,243 85,062
Income from continuing operations before income taxes 263,304 83,227 88,409
Income tax expense 103,482 31,932 33,317
Income from continuing operations 159,822 51,295 55,092
Discontinued operations:      
(Loss)/income from discontinued operations, net of income taxes (112,003) (91,519) 53,613
Gain on sale, net of income taxes 85,520 0 13
(Loss)/income from discontinued operations, net of income taxes (26,483) (91,519) 53,626
Net income/(loss) 133,339 (40,224) 108,718
Net (income)/loss attributable to the noncontrolling interest (166) 555 (1,014)
Net income/(loss) attributable to The New York Times Company common stockholders 133,173 (39,669) 107,704
Amounts attributable to The New York Times Company common stockholders:      
Income from continuing operations 159,656 51,850 54,078
(Loss)/income from discontinued operations, net of income taxes (26,483) (91,519) 53,626
Net income/(loss) $ 133,173 $ (39,669) $ 107,704
Average number of common shares outstanding:      
Basic (in shares) 148,147 147,190 145,636
Diluted (in shares) 152,693 152,007 152,600
Basic earnings/(loss) per share attributable to The New York Times Company common stockholders:      
Income from continuing operations (USD per share) $ 1.08 $ 0.35 $ 0.37
(Loss)/income from discontinued operations, net of income taxes (USD per share) $ (0.18) $ (0.62) $ 0.37
Net income/(loss) (USD per share) $ 0.90 $ (0.27) $ 0.74
Diluted earnings/(loss) per share attributable to The New York Times Company common stockholders:      
Income from continuing operations (USD per share) $ 1.04 $ 0.34 $ 0.35
(Loss)/income from discontinued operations, net of income taxes (USD per share) $ (0.17) $ (0.60) $ 0.36
Net income/(loss) (USD per share) $ 0.87 $ (0.26) $ 0.71
[1] In the fourth quarter of 2012, we recorded a $48.7 million non-cash pension settlement charge in connection with the immediate pension benefit offer to certain former employees who participate in The New York Times Companies Pension Plan.
[2] In the fourth quarter of 2012, we recorded a $2.6 million charge in connection with a legal settlement.
[3] In the fourth quarter of 2011, we recorded a $4.5 million charge for a retirement and consulting agreement in connection with the retirement of our former chief executive officer.
[4] In the second quarter of 2011, we recorded a $9.2 million charge for the impairment of assets related to certain assets held for sale primarily of Baseline.
[5] In the second quarter of 2011, we recorded a $4.2 million estimated charge for our pension withdrawal obligation under a multiemployer pension plan at the Globe.
[6] In the first quarter of 2012, we recorded a $17.8 million gain on the sale of 100 of our units in Fenway Sports Group. In the second quarter of 2012, we recorded a $37.8 million gain on the sale of our remaining 210 units in Fenway Sports Group. In the fourth quarter of 2012, we recorded a $164.6 million gain on the sale of our ownership interest in Indeed.com.
[7] In the first quarter of 2011, we recorded a $5.9 million gain from the sale of a portion of our interest in Indeed.com. In the third quarter of 2011, we recorded a $65.3 million gain from the sale of 390 units in Fenway Sports Group.
[8] In the first and third quarters of 2012, we recorded a $4.9 million and $0.6 million non-cash charge, respectively, for the impairment of certain investments.
[9] In the third quarter of 2011, we recorded a $46.4 million charge in connection with the prepayment of all $250.0 million aggregate principal amount of the 14.053% Notes.