FINANCE-Compute return on net operating assets (RNOA)

Compute return on net
operating assets (RNOA) for 2013 and 2012. Net operating assets are $412,630
thousand in 2011.

The New York Times Company

Consolidated Statements of Income

Fiscal year ended

(in thousands)

Dec. 29, 2013

Dec. 30, 2012

Operating revenues

Circulation

$824,277

$795,037

Advertising

666,687

711,829

Other

86,266

88,475

Total revenues

1,577,230

1,595,341

Production Costs

Raw materials

92,886

106,381

Wages and benefits

332,085

331,321

Other

201,942

213,616

Total production costs

626,913

651,318

Selling, general and administrative expenses

706,354

711,112

Depreciation and amortization

78,477

78,980

Total operating costs

1,411,744

1,441,410

Pension settlement expense

3,228

47,657

Multiemployer pension plan withdrawal expense

6,171

0

Other expense

0

2,620

Operating profit

156,087

103,654

Gain on sale of investments

0

220,275

Impairment of investments

0

5,500

(Loss)/income from joint ventures

-3,215

2,936

Premium on debt redemption

0

0

Interest expense, net

58,073

62,808

Income from continuing operations before income taxes

94,799

258,557

Income tax expense

37,892

94,617

Income from continuing operations

56,907

163,940

Discontinued operations:

(Loss) from discontinued operations, net of tax

-20,413

-113,447

Gain on sale, net of tax

28,362

85,520

Income/(loss) from discontinued operations, net of tax

7,949

-27,927

Net income/(loss)

64,856

136,013

Net (income)/loss attributable to the noncontrolling interest

249

-166

Net income/(loss) attributable to New York Times Company common
stockholders

65,105

135,847

The New York Times Company

Consolidated Balance Sheets

As of

(in thousands)

Dec. 29, 2013

Dec. 30, 2012

Cash and cash equivalents

$482,745

$820,490

Short-term investments

364,880

134,820

Accounts receivable, net

202,303

197,589

Deferred income taxes

65,859

58,214

Prepaid assets

20,250

23,085

Other current assets

36,230

26,320

Assets held for sale

0

137,050

Total current assets

1,172,267

1,397,568

Long-term
marketable securities

176,155

4,444

Investments
in joint ventures

40,213

40,872

Property plant and equipment, net

713,356

773,469

Goodwill, net

125,871

122,691

Deferred income taxes

179,989

302,212

Miscellaneous assets

164,701

166,214

Total assets

$2,572,552

$2,807,470

Accounts payable

$90,982

$88,990

Accrued payroll and other related liabilities

91,629

86,772

Unexpired subscriptions

58,007

57,336

Accrued expenses

107,755

118,753

Accrued incomes taxes

138

38,932

Liabilities held for sale

0

32,373

Total current liabilities

348,511

423,156

Long-term debt and capital lease obligations

684,142

696,752

Pension benefits obligation

444,328

737,889

Postretirement benefits obligation

90,602

110,347

Other

158,435

173,690

Total other liabilities

1,377,507

1,718,678

Stockholders’ equity

Common stock of $0.10 par value:

Class A common stock

15,129

15,027

Class B convertible

82

82

Additional paid-in capital

33,045

25,610

Retained earnings

1,283,518

1,230,450

Common stock held in treasury, at cost

-86,253

-96,278

Accumulated other comprehensive income loss), net of tax

-402,611

-512,566

Total New York Times Company stockholders’ equity

842,910

662,325

Noncontrolling interest

3,624

3,311

Total stockholders’ equity

846,534

665,636

Total liabilities and stockholders’ equity

$2,572,552

$2,807,470

 

 

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