restructuring related compensation

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The company believes operating cash flow is commonly used as a measure of performance for newspaper companies, however, it does not purport to represent cash provided by operating activities as shown in the company’s statement of cash flows, nor is it meant as a substitute for measures of performance prepared in accordance with generally accepted accounting principles. Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of Operating Income to Operating Cash Flows Reconciliation of Operating Income to Operating Cash Flows (in thousands) (in thousands) Restructuring related Restructuring related compensation compensation REVENUES – NET: REVENUES – NET: Other Other OPERATING EXPENSES: OPERATING EXPENSES: Other cash operating Other cash operating expenses expenses Advertising Advertising Circulation Circulation Newsprint and supplements Newsprint and supplements Compensation excluding restructuring Compensation excluding restructuring charges charges Cash operating expenses excluding restructuring Cash operating expenses excluding restructuring charges charges 12,134 12,134 288,301 288,301 $ 209,764 $ 209,764 66,403 66,403 81,709 81,709 34,339 34,339 111,478 111,478 227,526 227,526 12,454 12,454 303,734 303,734 $ 225,113 $ 225,113 66,167 66,167 82,013 82,013 35,376 35,376 119,808 119,808 237,197 237,197 1,171 1,171 4,549 4,549 Three Months Ended Three Months Ended March 27, March 27, 2011 2011 March 25, March 25, 2012 2012 Depreciation and amortization Depreciation and amortization OPERATING CASH FLOW MARGIN OPERATING CASH FLOW MARGIN Restructuring related compensation Restructuring related compensation charges charges OPERATING CASH FLOW OPERATING CASH FLOW Total operating expenses Total operating expenses OPERATING INCOME OPERATING INCOME Add back: Add back: Depreciation and amortization Depreciation and amortization Impairments charges related to Impairments charges related to asset sales asset sales Impairment charges related to Impairment charges related to asset sales asset sales 30,741 30,741 31,231 31,231 27,975 27,975 20,455 20,455 30,741 30,741 31,231 31,231 4,549 4,549 21.9% 21.9% 1,171 1,171 21.1% 21.1% $ $ 66,537 66,537 $ $ 60,775 60,775 888 888 10,302 10,302 260,326 260,326 283,279 283,279 Restructuring charges Restructuring charges - - 10,302 10,302 - 888 888 Restructuring charges Restructuring charges -

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Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of Operating Income to Operating Cash Flows (in thousands). Three Months Ended. March 25, 2012. March 27, 2011. REVENUES – NET:. $ 209,764. $ 225,113. Advertising. 66,167. 66,403. Circulation. 12,134. Other. - PowerPoint PPT Presentation

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Page 1: Restructuring related compensation

The company believes operating cash flow is commonly used as a measure of performance for newspaper companies, however, it does not purport to represent cash provided by operating activities as shown in the company’s statement of cash flows, nor is it meant as a substitute for measures of performance prepared in accordance with generally accepted accounting principles.

Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of Operating Income to Operating Cash FlowsReconciliation of Operating Income to Operating Cash Flows

(in thousands)(in thousands)

Restructuring related compensationRestructuring related compensation

REVENUES – NET:REVENUES – NET:

OtherOther

OPERATING EXPENSES:OPERATING EXPENSES:

Other cash operating expensesOther cash operating expenses

AdvertisingAdvertising

CirculationCirculation

Newsprint and supplementsNewsprint and supplements

Compensation excluding restructuring chargesCompensation excluding restructuring charges

Cash operating expenses excluding restructuring chargesCash operating expenses excluding restructuring charges

12,13412,134

288,301288,301

$ 209,764$ 209,764

66,40366,403

81,70981,709

34,33934,339

111,478111,478

227,526227,526

12,45412,454

303,734303,734

$ 225,113$ 225,113

66,16766,167

82,01382,013

35,37635,376

119,808119,808

237,197237,197

1,1711,171 4,5494,549

Three Months EndedThree Months EndedMarch 27,March 27,

20112011March 25, March 25,

20122012

Depreciation and amortizationDepreciation and amortization

OPERATING CASH FLOW MARGINOPERATING CASH FLOW MARGIN

Restructuring related compensation chargesRestructuring related compensation charges

OPERATING CASH FLOWOPERATING CASH FLOW

Total operating expensesTotal operating expenses

OPERATING INCOMEOPERATING INCOME

Add back:Add back:

Depreciation and amortizationDepreciation and amortization

Impairments charges related to asset salesImpairments charges related to asset sales

Impairment charges related to asset salesImpairment charges related to asset sales

30,74130,741 31,23131,231

27,97527,975 20,45520,455

30,74130,741 31,23131,231

4,5494,549

21.9%21.9%

1,1711,171

21.1%21.1%

$ 66,537$ 66,537$ 60,775$ 60,775

888888

10,30210,302

260,326260,326 283,279283,279

Restructuring chargesRestructuring charges

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-- 10,30210,302

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888888Restructuring chargesRestructuring charges --