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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 29, 2013
Dec. 30, 2012
Dec. 25, 2011
Cash flows from operating activities      
Net income/(loss) $ 64,856,000 $ 136,013,000 $ (38,203,000)
Adjustments to reconcile net income/(loss) to net cash provided by operating activities:      
Impairment of assets 34,300,000 194,732,000 164,434,000
Pension settlement expense 3,228,000 47,657,000 [1] 0
Multiemployer pension withdrawal expense 14,168,000 0 4,228,000
Other expense 0 2,620,000 4,500,000
Gain on sale of investments 0 (220,275,000) [2] (71,171,000)
Impairment on investments 0 5,500,000 0
Premium on debt redemption 0 0 46,381,000
Gain on sale of New England Media Group & About Group 47,561,000 96,675,000 0
Loss on sale of Regional Media Group 0 5,441,000 0
Depreciation and amortization 85,477,000 103,775,000 116,454,000
Stock-based compensation expense 8,741,000 4,693,000 8,497,000
Undistributed loss on equity method investments 3,619,000 2,586,000 3,435,000
Deferred income taxes 44,102,000 1,380,000 65,045,000
Long-term retirement benefit obligations (112,133,000) (143,724,000) (144,613,000)
Other – net 12,928,000 9,737,000 (462,000)
Changes in operating assets and liabilities:      
Accounts receivable – net 3,148,000 5,130,000 12,603,000
Inventories 176,000 6,806,000 (4,955,000)
Other current assets 1,675,000 (8,477,000) 1,820,000
Accounts payable and other liabilities (83,072,000) 18,429,000 (97,007,000)
Unexpired subscriptions 1,203,000 3,962,000 2,941,000
Net cash provided by operating activities 34,855,000 79,310,000 73,927,000
Cash flows from investing activities      
Purchases of marketable securities (860,848,000) (439,700,000) (279,721,000)
Maturities of marketable securities 447,350,000 409,726,000 204,849,000
Proceeds from sale of business 68,585,000 456,158,000 0
Proceeds from investments – net of purchases 12,004,000 250,918,000 117,966,000
Capital expenditures (16,942,000) (34,888,000) (44,887,000)
Change in restricted cash (3,806,000) 3,287,000 (27,628,000)
Proceeds from the sale of assets 0 1,312,000 11,167,000
Net cash (used in)/provided by investing activities (353,657,000) 646,813,000 (18,254,000)
Long-term obligations:      
Repayments (19,959,000) (81,584,000) (590,000)
Redemption of long-term debt 0 0 250,000,000
Dividends paid (6,040,000) 0 0
Capital shares:      
Issuances 5,086,000 730,000 364,000
Tax windfall from equity award exercises 1,654,000 0 0
Net cash used in financing activities (19,259,000) (80,854,000) (250,226,000)
Net (decrease)/increase in cash and cash equivalents (338,061,000) 645,269,000 (194,553,000)
Effect of exchange rate changes on cash and cash equivalents 316,000 70,000 36,000
Cash and cash equivalents at the beginning of the year 820,490,000 175,151,000 369,668,000
Cash and cash equivalents at the end of the year 482,745,000 820,490,000 175,151,000
SUPPLEMENTAL DATA      
Interest, net of capitalized interest 54,821,000 60,005,000 98,336,000
Income tax payment/(refunds) – net 42,792,000 (6,627,000) (22,757,000)
Non-cash investing activities, receivable held in escrow   14,000,000  
Amount received from escrow $ 7,000,000    
[1] In the fourth quarter of 2012, we recorded a $47.7 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 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.