cash position - newspaper

8/14/2019 Cash Position - Newspaper

1/51


2/51

E duc

atio

Cabl

eTV

N ewsp

. Mag.

O ther

In-

terse

g.

-200,000

-150,000

-100,000

-50,000

0

50,000

100,000

150,000

200,000

250,000

Washington Post Co Op Inc Over TimeEDUCATION GROWING, NEWSPAPER NOT

2006 Op Inc2007 Op Inc

2008 Op Inc

OperatingIncome($in'000s)

E duc

atio

Cabl

eTV

N ewsp

. Mag.

O ther

In-

terse

g.

-250,000

0

250,000

500,000

750,000

1,000,000

1,250,000

1,500,000

1,750,000

2,000,000

2,250,000

2,500,000

Washington Post Co RevenueEDUCATION GROWING, NEWSPAPER NOT

2006 Rev

2007 Rev

2008 Rev

Revenue($in'000s)


3/51


4/51

The New York Times Company

Annual Income Statement

[Standardized in USD Millions]

28-Dec-2008

Period Length 52 Weeks

UpdateType/Date Updated Normal 28-Dec-2008

Filed Currency USD

Exchange Rate (Period Average) 1

Auditor

Auditor Opinion

Net Sales 2689.9

Revenue 2689.9

Other Revenue 259

Other Revenue, Total 259

Total Revenue 2948.9

Cost of Revenue 1315.1

Cost of Revenue, Total 1315.1

Gross Profit 1374.7

Selling/General/Administrative Expense 1332.1

Total Selling/General/Administrative Expenses 1332.1

Depreciation 144.4

Depreciation/Amortization 144.4

Impairment-Assets Held for Use 197.9

Other Unusual Expense (Income) 0

Unusual Expense (Income) 197.9Loss (Gain) on Sale of Assets - Operating 0

Other Operating Expenses, Total 0

Total Operating Expense 2989.5

Operating Income -40.6

Interest Expense - Non-Operating -

Interest Capitalized - Non-Operating -

Interest Expense, Net Non-Operating -

Interest Income - Non-Operating -

Investment Income - Non-Operating 17.1

Interest/Investment Income - Non-Operating 17.1Interest Income (Expense) - Net Non-Operating -47.8

Gain (Loss) on Sale of Assets -

Other Non-Operating Income (Expense) -

Other, Net -

Income Before Tax -71.4

Total Income Tax -5.7

Income After Tax -65.6

Minority Interest -0.5

Net Income Before Extraord Items -66.1

Accounting Change -


5/51

Discontinued Operations 8.3

Total Extraord Items 8.3

Net Income -57.8

Income Available to Common Excl Extraord Items -66.1

Income Available to Common Incl Extraord Items -57.8

Basic/Primary Weighted Average Shares 143.8

Basic EPS Excl Extraord Items -0.46

Basic/Primary EPS Incl Extraord Items -0.4

Dilution Adjustment 0

Diluted Net Income -57.8

Diluted Weighted Average Shares 143.8

Diluted EPS Excl Extraord Items -0.46

Diluted EPS Incl Extraord Items -0.4

Dividends per Share - Common Stock Primary Issue 0.75

Gross Dividends - Common Stock -Stock Based Compensation -

Net Income After Stock Based Compensation -

Basic EPS After Stock Based Compensation -

Diluted EPS After Stock Based Compensation -

Interest Expense, Supplemental -

Interest Capitalized, Supplemental -

Depreciation, Supplemental 144.4

Total Special Items 197.9

Normalized Income Before Tax 126.5

Effect of Special Items on Income Taxes 69.3

Inc Tax Ex Impact of Sp Items 63.5Normalized Income After Tax 63

Normalized Inc. Avail to Com. 62.5

Basic Normalized EPS 0.43

Diluted Normalized EPS 0.43

Amort of Intangibles, Supplemental -

Rental Expenses -

Reported Operating Profit -

Normalized EBIT 157.2

Normalized EBITDA 301.7

Current Tax - Domestic -Current Tax - Foreign -

Current Tax - Local -

Current Tax - Total -

Deferred Tax - Domestic -

Deferred Tax - Foreign -

Deferred Tax - Local -

Deferred Tax - Total -

Income Tax - Total -

Interest Cost - Domestic -

Service Cost - Domestic -

Prior Service Cost - Domestic -

Expected Return on Assets - Domestic -


6/51

Actuarial Gains and Losses - Domestic -

Curtailments & Settlements - Domestic -

Domestic Pension Plan Expense -

Interest Cost - Post-Retirement -

Service Cost - Post-Retirement -

Prior Service Cost - Post-Retirement -

Expected Return on Assets - Post-Retir. -

Actuarial Gains and Losses - Post-Retir. -

Curtailments & Settlements - Post-Retir. -

Post-Retirement Plan Expense -

Defined Contribution Expense - Domestic -

Defined Contribution Expense Retirement -

Total Pension Expense -

Discount Rate - Domestic -

Discount Rate - Post-Retirement -

Expected Rate of Return - Domestic -

Compensation Rate - Domestic -

Compensation Rate - Post-Retirement -Total Plan Interest Cost -

Total Plan Service Cost -

Total Plan Expected Return -


7/51


8/51

99.8 24.7

99.8 24.7

208.7 -543.4

108.9 -568.2

208.7 -543.4

143.9 144.6

0.76 -3.93

1.45 -3.76

0 0

208.7 -543.4

144.2 144.6

0.76 -3.93

1.45 -3.76

0.87 0.69

125.1 100.1- -

- -

- -

- -

43.2 58.6

-15.8 -14.9

189.6 162.3

39.6 814.4

224.5 262.5

16.3 285.1

92.4 301.7132.1 -39.1

132.2 -38.8

0.92 -0.27

0.92 -0.27

19.5 29.2

37.5 35

- -

267 293.8

476.1 485.3

67.7 112.61 0.7

18.9 43.2

87.7 156.5

-14.4 -89.4

-4 -10.9

6.9 -39.6

-11.6 -139.9

76.1 16.6

108.4 101.2

47.9 54.4

1.5 1.5

-121.3 -112.6


9/51

14.2 30.5

0.9 0.5

51.7 75.5

14.4 14.7

7.3 9.5

-8.9 -7.2

0 0

3.1 3

-4 -

11.9 19.9

29.8 30.3

23 24

116.4 149.7

- -

6.00% 5.50%

- -

- -

4.50% 4.50%122.8 115.8

55.3 63.9

-121.3 -112.6


10/51

25-Dec-2005 26-Dec-2004

52 Weeks 52 Weeks

Reclassified Normal 30-Dec-2007 Restated Normal 31-Dec-2006

USD USD

1 1

PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP

Unqualified with Explanation Unqualified with Explanation

3013.5 2937.4

3013.5 2937.4

217.7 222

217.7 222

3231.1 3159.4

1397.1 1406.7

1397.1 1406.7

1616.3 1530.7

1379 1290.1

1379 1290.1

135.5 -

135.5 -

0 0

4.8-

4.8 00 -

0 -

2916.3 2696.8

314.8 462.6

-60 -51.4

11.2 7.2

-48.9 -44.2

4.5 2.4

10.1 0.2

14.5 2.7- -

122.9 0

4.2 8.2

4.2 8.2

407.5 429.3

164 163.7

243.6 265.6

-0.3 -0.6

243.3 265

-5.5 0


11/51

15.7 22.6

10.2 22.6

253.5 287.6

243.3 265

253.5 287.6

145.4 147.6

1.67 1.8

1.74 1.95

0 0

253.5 287.6

145.9 149.4

1.67 1.77

1.74 1.93

0.65 0.61

94.5 90.1- 62.1

- 225.5

- 1.53

- 1.51

48.9 44.2

-11.2 -7.2

113.5 118.9

-118.2 0

289.4 429.3

-47.5 0

116.4 163.7172.9 265.6

172.7 265

1.19 1.8

1.18 1.77

30.3 23.6

35.8 32.9

442.5 462.6

319.6 462.6

463.3 605.1

157.8 137.10.7 0.7

40.2 26.4

198.7 164.2

-21.8 9.8

-3 -7.9

-9.9 -2.4

-34.8 -0.5

164 163.7

96.5 92.6

49.9 45.2

1.6 1.8

-103 -94.9


12/51

27.6 27.1

0.8 0

73.4 71.8

14.6 14.4

8.7 8.1

-6.2 -6.4

-0.1 -0.2

4.7 2

- -

21.8 17.9

29.4 30

23 21

147.6 140.7

5.75% 6.00%

5.75% 6.00%

8.75% 8.75%

4.50% 4.50%

4.50% 4.50%111.1 107

58.7 53.3

-103.1 -95


13/51


Annual Balance Sheet


28-Dec-2008


Filed Currency USD

Exchange Rate 1

Auditor

Auditor Opinion

Cash & Equivalents 57

Cash and Short Term Investments 57

Accounts Receivable - Trade, Gross -

Provision for Doubtful Accounts -

Trade Accounts Receivable - Net -

Total Receivables, Net -Inventories - Raw Materials -

Inventories - Other -

Total Inventory -

Deferred Income Tax - Current Asset -

Other Current Assets -

Other Current Assets, Total -

Total Current Assets -

Buildings -

Land/Improvements -

Machinery/Equipment -

Construction in Progress -Property/Plant/Equipment - Gross -

Accumulated Depreciation -

Property/Plant/Equipment - Net -

Goodwill, Net -

Intangibles - Gross -

Accumulated Intangible Amortization -

Intangibles, Net -

LT Investment - Affiliate Companies -

Long Term Investments -

Deferred Income Tax - Long Term Asset -

Other Long Term Assets -

Other Long Term Assets, Total -

Total Assets -

Accounts Payable -

Accrued Expenses -

Notes Payable/Short Term Debt 380

Current Portion - Long Term Debt/Capital Leases -

Customer Advances -

Other Current liabilities, Total -

Total Current Liabilities -

Long Term Debt 1100

Capital Lease Obligations -


14/51

Total Long Term Debt -

Total Debt 380

Deferred Income Tax - LT Liability -

Deferred Income Tax -

Minority Interest -

Pension Benefits - Underfunded -

Other Long Term Liabilities -

Other Liabilities, Total -

Total Liabilities -

Common Stock -

Common Stock -

Additional Paid-In Capital -

Retained Earnings (Accumulated Deficit) -

Treasury Stock - Common -

Unrealized Gain (Loss) -

Translation Adjustment -Minimum Pension Liability Adjustment -

Other Comprehensive Income -

Other Equity, Total -

Total Equity -

Total Liabilities & Shareholders Equity -

Shares Outstanding - Common Stock Primary Issue -

Shares Outstanding - Common Stock Issue 2 -

Total Common Shares Outstanding -

Treasury Shares - Common Stock Primary Issue -

Employees -Number of Common Shareholders -

Accumulated Intangible Amort, Suppl. -

Deferred Revenue - Current -

Total Long Term Debt, Supplemental -

Long Term Debt Maturing within 1 Year -

Long Term Debt Maturing in Year 2 -




Long Term Debt Maturing in 2-3 Years -

Long Term Debt Maturing in 4-5 Years -

Long Term Debt Matur. in Year 6 & Beyond -Interest Costs -

Total Capital Leases, Supplemental -

Capital Lease Payments Due in Year 1 -





Capital Lease Payments Due in 2-3 Years -

Capital Lease Payments Due in 4-5 Years -

Cap. Lease Pymts. Due in Year 6 & Beyond -

Total Operating Leases, Supplemental -

Operating Lease Payments Due in Year 1 -


15/51


16/51


17/51

678.7 795

1035 1445.9

- 0

- 0

5.9 6

495 641

339.5 296.1

834.6 937.1

2494.9 3036.1

14.9 14.9

14.9 14.9

9.9 0

1095.2 942.9

-161.4 -158.9

0 0

19.7 210 0

- -

19.7 21

978.2 819.8

3473.1 3855.9

142.9 143

0.8 0.8

143.7 143.9

5.2 5

10231 115858024 9116

232.8 218

81.1 83.3

723.5 825.5

49.5 102

99 49.5

250 99

0 250

75 0

349 148.5

75 250

250 325-6.6 -43.2

6.8 76.5

0.6 7.9

0.6 9.1

0.6 9.6

0.6 9.6

0.6 9.6

1.2 18.7

1.1 19.1

3.9 30.8

100.7 86.9

22.8 19.4


18/51


19/51


20/51

898.3 471.5

1396.4 1058.8

26.3 132.1

26.3 132.1

189 134.6

648.8 415.4

281.5 275.9

930.4 691.4

3113.3 2549.3

15.2 15.1

15.2 15.1

55.1 0

1815.2 1684.9

-262 -204.4

1 -0.3

11.5 19.4-185.2 -89.8

- -24.3

-173.7 -94.7

1450.8 1400.5

4564.1 3949.9

144.4 145.3

0.8 0.8

145.2 146.1

6.6 4.8

11965 123009720 10286

168.3 143.7

81.9 77.6

825.5 647.4

0 321.9

102 0

49.5 102

99 49.5

250 99

151.5 102

349 148.5

325 75-48.8 -52

78 79.5

7.4 7.4

7 7.4

7.8 7.8

9 9

9.6 9.6

14.8 15.2

18.6 18.6

37.2 38.3

116.3 131.5

28.4 28.4


21/51

18.6 26.4

10.5 17.6

9.7 9.4

7.7 9.1

29.2 44

17.4 18.5

41.3 40.7

1881 1397.3

284.6 217.9

1329.3 1039.5

1.1 0

-551.8 -357.8

-283.5 -217.9

1689.3 1241.8

284.6 217.9

-835.3 -575.6

5.50% 5.75%

5.50% 5.75%4.50% 4.50%

4.50% 4.50%

20.2 -

14 6.7

-380.3 -202.3

-268.6 -213.1

325.5 154.9

0 -

-289.2 -253.9

75.00% 74.00%

22.00% 24.00%

3.00% 2.00%2165.7 1615.1

1330.4 1039.5


22/51


Annual Cash Flows


30-Dec-2007



Filed Currency USD


Auditor Ernst & Young LLP

Auditor Opinion Unqualified

Net Income/Starting Line 208.7

Depreciation 170.7

Depreciation/Depletion 170.7

Amortization of Intangibles 19.5

Amortization 19.5Deferred Taxes -11.6

Unusual Items 68.2

Equity in Net Earnings (Loss) 10.6

Other Non-Cash Items 19.6

Non-Cash Items 98.4

Accounts Receivable -62.8

Inventories 9.8

Other Assets -3.9

Accounts Payable -18.4

Accrued Expenses 28.5

Taxes Payable -95.9

Other Liabilities -2.2Other Operating Cash Flow -230.2

Changes in Working Capital -375

Cash from Operating Activities 110.7

Purchase of Fixed Assets -380.3

Capital Expenditures -380.3

Acquisition of Business -174.1

Sale of Business 615.4

Sale of Fixed Assets 90.8

Purchase of Investments -3.6

Other Investing Cash Flow Items, Total 528.6

Cash from Investing Activities 148.3

Other Financing Cash Flow 66.3

Financing Cash Flow Items 66.3

Cash Dividends Paid - Common -125.1

Total Cash Dividends Paid -125.1

Sale/Issuance of Common 0.5

Repurchase/Retirement of Common -4.5

Common Stock, Net -4

Issuance (Retirement) of Stock, Net -4

Short Term Debt Issued 195

Short Term Debt, Net -115.3

Long Term Debt Issued 0


23/51

Long Term Debt Reduction -102.4

Long Term Debt, Net -102.4

Issuance (Retirement) of Debt, Net -217.7

Cash from Financing Activities -280.5

Foreign Exchange Effects 0.8

Net Change in Cash -20.8

Net Cash - Beginning Balance 72.4

Net Cash - Ending Balance 51.5

Cash Interest Paid 61.5

Cash Taxes Paid 283.8


24/51

31-Dec-2006 25-Dec-2005

53 Weeks 52 Weeks

Updated Normal 31-Dec-2006 Reclassified Normal 31-Dec-2006

USD USD

1 1


Unqualified Unqualified with Explanation

-543.4 253.5

140.7 113.5

140.7 113.5

29.2 30.3

29.2 30.3-139.9 -34.8

0 -122.9

-6 -0.9

883.4 49.4

877.4 -74.5

37.5 -35.1

-7.6 0.6

-1.1 29.7

23.3 -3.9

-9.9 20.7

14.8 -9.9

1.4 4.20 0

58.4 6.3

422.3 294.3

-332.3 -221.3

-332.3 -221.3

-35.8 -437.5

0 0

0 183.2

79.4 -19.8

43.6 -274.2

-288.7 -495.5

106.3 6.8

106.3 6.8

-100.1 -94.5

-100.1 -94.5

16 14.3

-52.3 -57.4

-36.3 -43

-36.3 -43

0 0

-74.4 161.1

0 497.5


25/51

-1.6 -323.5

-1.6 174.1

-76.1 335.2

-106.2 204.4

0 -0.7

27.4 2.5

44.9 42.4

72.4 44.9

71.8 46.1

152.2 231.5


26/51


27/51

-1.8 -54.6

-1.8 -54.6

105.5 -4.7

-249.2 -218.7

0.3 0.8

2.9 2.5

39.4 37

42.4 39.4

47.9 50.2

166.5 133.9


28/51

The Washington Post Company

Annual Income Statement


30-Dec-2007



Filed Currency USD


Auditor PricewaterhouseCoopers LLP


Net Sales 4083.3

Revenue 4083.3

Other Revenue 97.1

Other Revenue, Total 97.1

Total Revenue 4180.4

Cost of Revenue 1883

Cost of Revenue, Total 1883

Gross Profit 2200.4

Selling/General/Administrative Expense 1581.6

Total Selling/General/Administrative Expenses 1581.6

Depreciation 221.2


Depreciation/Amortization 238.8

Unusual Expense (Income) -

Loss (Gain) on Sale of Assets - Operating -Other Operating Expenses, Total -

Total Operating Expense 3703.4

Operating Income 477

Interest Expense - Non-Operating -24

Interest Expense, Net Non-Operating -24

Interest Income - Non-Operating 11.3

Investment Income - Non-Operating 6

Interest/Investment Income - Non-Operating 17.3

Other Non-Operating Income (Expense) 10.8

Other, Net 10.8

Income Before Tax 481.1

Total Income Tax 192.5

Income After Tax 288.6

Net Income Before Extraord Items 288.6

Accounting Change 0

Total Extraord Items 0

Net Income 288.6

Preferred Dividends -1

Total Adjustments to Net Income -1


29/51

Income Available to Common Excl Extraord Items 287.7

Income Available to Common Incl Extraord Items 287.7

Basic/Primary Weighted Average Shares 9.5

Basic EPS Excl Extraord Items 30.31

Basic/Primary EPS Incl Extraord Items 30.31

Diluted Net Income 287.7

Diluted Weighted Average Shares 9.5

Diluted EPS Excl Extraord Items 30.19

Diluted EPS Incl Extraord Items 30.19

Dividends per Share - Common Stock Primary Issue 8.2

Dividends per Share - Common Stock Issue 2 8.2

Gross Dividends - Common Stock 78.1

Stock Based Compensation -

Net Income After Stock Based Compensation -

Basic EPS After Stock Based Compensation -

Diluted EPS After Stock Based Compensation -Interest Expense, Supplemental 24

Interest Capitalized, Supplemental -

Depreciation, Supplemental 221.2

Total Special Items -

Normalized Income Before Tax 481.1

Effect of Special Items on Income Taxes -

Inc Tax Ex Impact of Sp Items 192.5

Normalized Income After Tax 288.6

Normalized Inc. Avail to Com. 287.7

Basic Normalized EPS 30.31

Diluted Normalized EPS 30.19

Amort of Intangibles, Supplemental 17.6

Rental Expenses 138.7

Reported Operating Profit 477

Normalized EBIT 477

Normalized EBITDA 715.8

Current Tax - Domestic 132.2

Current Tax - Foreign 10.3

Current Tax - Local 17

Current Tax - Total 159.5

Deferred Tax - Domestic 32.7Deferred Tax - Foreign 1

Deferred Tax - Local -0.6

Deferred Tax - Total 33

Income Tax - Total 192.5

Domestic Tax 164.9

Foreign Tax 11.3

Local Tax 16.3

Income Tax by Region - Total 192.5

Interest Cost - Domestic 50.4

Service Cost - Domestic 29.7

Prior Service Cost - Domestic 5.5

Expected Return on Assets - Domestic -98.1


30/51

Actuarial Gains and Losses - Domestic -3

Curtailments & Settlements - Domestic 0

Transition Costs - Domestic -0.1

Domestic Pension Plan Expense -15.5

Interest Cost - Post-Retirement 4.8

Service Cost - Post-Retirement 3.6

Prior Service Cost - Post-Retirement -4.9

Actuarial Gains and Losses - Post-Retir. -1.7

Curtailments & Settlements - Post-Retir. -

Post-Retirement Plan Expense 1.9

Defined Contribution Expense - Domestic 22.2

Total Pension Expense 8.5


Discount Rate - Post-Retirement 5.85%

Expected Rate of Return - Domestic 6.50%


Total Plan Interest Cost 55.2

Total Plan Service Cost 33.2Total Plan Expected Return -98.1


31/51

31-Dec-2006 01-Jan-2006

52 Weeks 52 Weeks

Reclassified Normal 30-Dec-2007 Reclassified Normal 30-Dec-2007

USD USD

1 1



3815.1 3469.9

3815.1 3469.9

89.8 84

89.8 84

3904.9 3553.9

1738.9 1618.2

1738.9 1618.2

2076.2 1851.7

1484 1222.7

1484 1222.7

205.3 190.5

16.9 7.5

222.2 198

- -

- -- -

3445.1 3039

459.8 514.9

-25.3 -26.8

-25.3 -26.8

10.4 3.4

0.8 -0.9

11.2 2.5

73.5 9

73.5 9

519.1 499.6

189.6 185.3

329.5 314.3

329.5 314.3

-5.1 0

-5.1 0

324.5 314.3

-1 -1

-1 -1


32/51


33/51


34/51

02-Jan-2005 28-Dec-2003

53 Weeks 52 Weeks

Updated Normal 02-Jan-2005 Reclassified Normal 02-Jan-2005

USD USD

1 1



3223.6 2766.6

3223.6 2766.6

76.5 72.3

76.5 72.3

3300.1 2838.9

1717.1 1549.3

1717.1 1549.3

1506.5 1217.4

835.4 792.3

835.4 792.3

175.3 173.8

9.3 1.4

184.7 175.3

0 -41.7

0 -41.70 -41.7

2737.1 2475.1

563 363.8

-28 -27.8

-28 -27.8

1.6 1

-2.3 -9.8

-0.7 -8.8

8.1 55.4

8.1 55.4

542.4 382.6

209.7 141.5

332.7 241.1

332.7 241.1

0 0

0 0

332.7 241.1

-1 -1

-1 -1


35/51

331.7 240.1

331.7 240.1

9.6 9.5

34.69 25.19

34.69 25.19

331.7 240.1

9.6 9.6

34.59 25.13

34.59 25.13

7 5.8

7 5.8

66.9 55.3

2.4 3.2

329.3 236.9

34.43 24.86

34.33 24.7928 27.8

- 0

175.3 173.8

0 -41.7

542.4 340.8

0 -15.4

209.7 126.1

332.7 214.8

331.7 213.8

34.69 22.43

34.59 22.37

9.3 1.4

97.6 76.8

- -

563 322.1

747.7 497.4

138.4 93.3

4.8 4.1

22.2 13.3

165.4 110.8

35.5 27.2-0.4 -0.2

9.1 3.7

44.3 30.7

209.7 141.5

174 120.5

4.4 4

31.3 17

209.7 141.5

37.2 33.7

22.9 20

4.5 4.2

-97.7 -96.1


36/51

-7.7 -14.7

0.1 34.1

-1.1 -2.2

-41.8 -21

7.4 7.4

5.3 5.2

-0.6 -0.4

-1 -1.7

- -0.6

11.1 9.9

19.6 17.5

-11.2 6.4

6.25% 6.75%

6.25% 6.75%

7.50% 7.50%

4.00% 4.00%

44.5 41.1

28.2 25.1-97.7 -96.1


37/51


Annual Balance Sheet


30-Dec-2007


Filed Currency USD

Exchange Rate 1



Cash & Equivalents 321.5

Short Term Investments 51.7

Cash and Short Term Investments 373.1

Accounts Receivable - Trade, Gross 540.5

Provision for Doubtful Accounts -81.9

Trade Accounts Receivable - Net 458.6Other Receivables 22.1

Total Receivables, Net 480.7

Total Inventory 23.2

Deferred Income Tax - Current Asset 46.4

Other Current Assets 71.5

Other Current Assets, Total 117.9

Total Current Assets 995

Buildings 346.1

Land/Improvements 49.2

Machinery/Equipment 2185.9

Construction in Progress 56.6Leases 239.6

Property/Plant/Equipment - Gross 2877.4

Accumulated Depreciation -1596.7

Property/Plant/Equipment - Net 1280.7

Goodwill, Net 1498.2

Intangibles, Net 591.3

LT Investment - Affiliate Companies 102.4

LT Investments - Other 417.8

Long Term Investments 520.2

Deferred Charges 84.3

Pension Benefits - Overfunded 1034.8

Other Long Term Assets, Total 1119

Total Assets 6004.5

Accounts Payable 6

Payable/Accrued 339.4

Accrued Expenses 219.3

Notes Payable/Short Term Debt 89.6

Customer Advances 354.6

Income Taxes Payable 4.6

Other Current liabilities, Total 359.1

Total Current Liabilities 1013.5

Long Term Debt 400.5


38/51

Total Long Term Debt 400.5

Total Debt 490.1

Deferred Income Tax - LT Liability 709.7

Deferred Income Tax 709.7

Pension Benefits - Underfunded 81

Other Long Term Liabilities 326.8

Other Liabilities, Total 407.8

Total Liabilities 2531.5

Redeemable Convertible Preferred Stock 11.8

Redeemable Preferred Stock 11.8

Common Stock 20

Common Stock 20

Additional Paid-In Capital 217.8

Retained Earnings (Accumulated Deficit) 4329.7

Treasury Stock - Common -1600.9

Unrealized Gain (Loss) 451.7Translation Adjustment 42.8

Other Equity -

Other Equity, Total 42.8

Total Equity 3473

Total Liabilities & Shareholders Equity 6004.5

Shares Outstanding - Common Stock Primary Issue 8.2

Shares Outstanding - Common Stock Issue 2 1.3

Total Common Shares Outstanding 9.5

Treasury Shares - Common Stock Primary Issue 10.5

Employees 19000Number of Common Shareholders 877

Deferred Revenue - Current 354.6

Total Long Term Debt, Supplemental 523.4

Long Term Debt Maturing within 1 Year 111.6

Long Term Debt Maturing in Year 2 411.7

Long Term Debt Maturing in Year 3 0.1

Long Term Debt Maturing in Year 4 0

Long Term Debt Maturing in Year 5 0

Long Term Debt Maturing in 2-3 Years 411.8

Long Term Debt Maturing in 4-5 Years 0

Long Term Debt Matur. in Year 6 & Beyond 0

Total Operating Leases, Supplemental 700.2Operating Lease Payments Due in Year 1 125.5

Operating Lease Payments Due in Year 2 111.6




Operating Lease Pymts. Due in 2-3 Years 209.7

Operating Lease Pymts. Due in 4-5 Years 150.8

Oper. Lse. Pymts. Due in Year 6 & Beyond 214.2

Pension Obligation - Domestic 897.6

Post-Retirement Obligation 86.1

Plan Assets - Domestic 1875

Funded Status - Domestic 977.3


39/51

Funded Status - Post-Retirement -86.1

Accumulated Obligation - Domestic 801.3

Accumulated Obligation - Post-Retirement 86.1

Total Funded Status 891.2


Discount Rate - Post-Retirement 5.80%


Prepaid Benefits - Domestic 1034.8

Accrued Liabilities - Domestic -57.5

Accrued Liabilities - Post-Retirement -86.1

Other Assets, Net - Domestic -434.6

Other Assets, Net - Post-Retirement -65.2

Net Domestic Pension Assets -

Net Assets Recognized on Balance Sheet 391.4

Equity % - Domestic 88.00%

Debt Securities % - Domestic 12.00%

Total Plan Obligations 983.8

Total Plan Assets 1875


40/51

31-Dec-2006 01-Jan-2006 02-Jan-2005

Reclassified Normal 30-Dec-2007 Updated Normal 01-Jan-2006 Restated Normal 01-Jan-2006

USD USD USD

1 1 1

PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP

Unqualified with Explanation Unqualified with Explanation Unqualified with Explanation

348.1 215.9 119.4

28.9 67.6 149.3

377.1 283.5 268.7

486.6 453.8 413.8

-86.2 -78.1 -71

400.4 375.7 342.923 49.5 38.4

423.4 425.2 381.2

20 15.1 25.1

48.9 37.3 30.9

65.4 57.3 44.6

114.4 94.6 75.4

934.8 818.3 750.5

331.7 327.6 304.6

42 42.3 37.5

1939.1 1840 1731

133.8 91.4 80.6204.8 167.1 133.7

2651.4 2468.3 2287.3

-1433.1 -1325.7 -1197.4

1218.3 1142.6 1090

1240.3 1125.6 1023.1

549.5 517.5 501.1

64.7 66.8 61.8

325.8 262.3 260.4

390.5 329.1 322.2

72.7 58.2 65.1

975.3 593.5 556.7

1048 651.6 621.8

5381.4 4584.8 4308.8

6 - -

331.8 438.7 443.3

180 - -

5.6 24.8 58.2

283.5 231.2 186.6

4.7 - -

288.2 231.2 186.6

811.6 694.7 688.2

401.6 403.6 425.9


41/51

401.6 403.6 425.9

407.2 428.5 484.1

599.5 422.5 403.7

599.5 422.5 403.7

81.3 150.9 145.5

315.7 262.3 228.7

397 413.2 374.1

2209.7 1934.1 1891.9

12.1 12.3 12.3

12.1 12.3 12.3

20 20 20

20 20 20

205.8 207.3 186.8

4120.1 3871.6 3629.2

-1564 -1509.2 -1512.9

354.9 58.3 75.422.7 5 13.9

- -14.7 -7.9

22.7 -9.6 6

3171.6 2650.7 2416.9

5381.4 4584.8 4308.8

7.8 7.9 7.9

1.7 1.7 1.7

9.5 9.6 9.6

10.5 10.4 10.4

17100 16400 14800916 996 1034

283.5 231.2 186.6

462.2 428.5 435

27.7 24.8 8

23.4 2.5 24.7

411.2 1.3 1.5

0 399.9 0.4

0 0 400.2

434.6 3.7 26.2

0 399.9 400.6

0 0 0.2

626.6 588 496.6109.3 95.2 80.8

98.3 91.1 76

86.9 82.6 71.2

75.4 71.9 61.8

59.3 61.7 52.3

185.2 173.8 147.2

134.7 133.6 114.1

197.4 185.4 154.5

857.2 800.5 689.1

86.6 141.5 132.5

1778.1 1683.3 1588.2

920.9 882.8 899.1


42/51

-86.6 -141.5 -132.5

757.1 690.2 599.2

86.6 141.5 132.5

834.4 741.3 766.5

- - 5.75%

5.85% 5.60% 5.75%

- - 4.00%

975.3 - -

-54.4 - -

-86.6 -150.9 -

-395.4 - -

-67.1 - -

- 560.2 -

371.8 409.3 -

89.00% 84.80% 85.80%

11.00% 15.20% 14.20%

943.7 942 821.7

1778.1 1683.3 1588.2


43/51

28-Dec-2003

Restated Normal 02-Jan-2005

USD

1

PricewaterhouseCoopers LLP

Unqualified with Explanation

116.6

2.6

119.2

378.3

-66.5

311.822.3

334.1

27.7

31.4

43.9

75.3

556.3

289

36.5

1656.1

56.1102.8

2140.4

-1084.8

1055.6

965.7

491.9

61.3

245.3

306.6

71.1

514.8

585.9

3962.1

-

368.4

-

208.6

164

-

164

741

422.5


44/51

422.5

631.1

335.2

335.2

140.7

235.2

375.9

1874.6

12.5

12.5

20

20

167

3364.4

-1517.9

37.24.3

-

4.3

2087.5

3962.1

7.8

1.7

9.5

10.5

132001026

164

-

-

-

-

-

-

-

-

-

426.569.1

63.9

57.9

54.1

45.6

121.9

99.7

135.8

625.8

120.4

1565

939.2


45/51

-120.4

548.4

120.4

818.7

6.25%

6.25%

4.00%

514.8

-

-140.7

-

-

-

374.1

-

-

746.2

1565


46/51


Annual Cash Flows


30-Dec-2007



Filed Currency USD




Net Income/Starting Line 288.6

Depreciation 221.2

Depreciation/Depletion 221.2


Amortization 17.6Deferred Taxes 33

Accounting Change 0

Unusual Items 2.5

Equity in Net Earnings (Loss) -3.8

Other Non-Cash Items -31.1

Non-Cash Items -32.4

Accounts Receivable -43.5

Inventories -3.4

Payable/Accrued 97.2

Other Assets & Liabilities, Net 3

Other Operating Cash Flow -0.3

Changes in Working Capital 53.1Cash from Operating Activities 581.2

Purchase of Fixed Assets -290

Capital Expenditures -290

Sale of Business 0

Sale/Maturity of Investment 0.5

Investment, Net 16.7

Purchase of Investments -289.9

Other Investing Cash Flow -18.4

Other Investing Cash Flow Items, Total -291.1

Cash from Investing Activities -581.1

Other Financing Cash Flow 2.7

Financing Cash Flow Items 2.7

Total Cash Dividends Paid -79

Repurchase/Retirement of Common -42

Common Stock, Net -42

Options Exercised 8.4

Issuance (Retirement) of Stock, Net -33.6

Short Term Debt, Net -3.1

Long Term Debt Reduction -3.6

Long Term Debt, Net 81.2

Issuance (Retirement) of Debt, Net 78.2

Cash from Financing Activities -31.8


47/51

Foreign Exchange Effects 5

Net Change in Cash -26.7

Net Cash - Beginning Balance 348.1

Net Cash - Ending Balance 321.5

Cash Interest Paid 23.8

Cash Taxes Paid 158.1


48/51

31-Dec-2006 01-Jan-2006 02-Jan-2005

52 Weeks 52 Weeks 53 Weeks

Updated Normal 31-Dec-2006 Updated Normal 01-Jan-2006 Updated Normal 02-Jan-2005

USD USD USD

1 1 1

PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP

Unqualified with Explanation Unqualified with Explanation Unqualified with Explanation

324.5 314.3 332.7

205.3 190.5 175.3

205.3 190.5 175.3

7 7.5 9.3

7 7.5 9.3-38.2 29.3 44.3

5.1 0 0

3.7 -5.5 -2.4

0.1 1.7 3.1

-33.8 -29.8 -47.5

-24.8 -33.6 -46.7

20.8 -27.6 -36.8

-4.2 11.5 2.6

42.9 -27 70.1

63.6 53.6 3.5

-2.1 4.2 7.3

121 14.7 46.7594.8 522.8 561.7

-284 -238.3 -204.6

-284 -238.3 -204.6

76.4 0 0

82.9 64.8 -

6.8 24.1 5.3

-208.4 -157.2 -150

5 0 -

-37.2 -68.3 -144.7

-321.3 -306.6 -349.3

1.3 0 -

1.3 0 -

-75.9 -72 -67.9

-56.6 0 0

-56.6 0 0

5.9 6.8 15.6

-50.7 6.8 15.6

4.4 6.5 -2

-27.8 -7 -19.3

-27.8 -57.2 -157.4

-23.5 -50.6 -159.3

-148.7 -115.8 -211.6


49/51

7.6 -3.9 2

132.3 96.5 2.8

215.9 119.4 116.6

348.1 215.9 119.4

24.6 27.3 25.5

194.9 161.6 171.4


50/51

28-Dec-2003

52 Weeks

Restated Normal 02-Jan-2005

USD

1

PricewaterhouseCoopers LLP

Unqualified with Explanation

241.1

173.8

173.8

1.4

1.430.7

0

-56

10.5

-59.3

-104.8

-20.1

0.8

-14.3

34.5

-5.4

-4.5337.7

-125.6

-125.6

65

0

45

-141.4

-

-31.4

-157

-

-

-56.3

-0.7

-0.7

5.9

5.2

1.2

-0.8

-71.7

-70.5

-121.6


51/51

0.7

59.9

56.7

116.6

27.5

116.9

cash position - newspaper

Documents