P. 68 – THE NEW YORK TIMES COMPANY
(In thousands)
March 31,
2013
2012 by quarter
As adjusted:
December 30,
2012
September 23,
2012
June 24,
2012
March 25,
2012
Condensed Consolidated Balance Sheets
Assets
Current assets
Cash and cash equivalents $ 308,014 $ 820,490 $ 334,374 $ 290,292 $ 206,468
Short-term marketable securities 366,805 134,820 279,740 279,858 224,878
Accounts receivable (net of allowances) 159,344 197,589 160,998 170,904 180,406
Inventories:
Newsprint and magazine paper 6,952 5,608 9,857 9,695 12,129
Other inventory 1,697 1,729 1,689 1,954 2,076
Total inventories 8,649 7,337 11,546 11,649 14,205
Deferred income taxes 58,214 58,214 73,055 73,055 73,055
Other current assets 49,824 42,068 45,491 42,886 59,404
Assets held for sale 127,529 137,050 356,030 361,358 550,836
Total current assets 1,078,379 1,397,568 1,261,234 1,230,002 1,309,252
Other assets
Long-term marketable securities 190,841 4,444 — — —
Investments in joint ventures 38,409 40,872 41,401 41,809 43,420
Property, plant and equipment (less accumulated depreciation
and amortization)
757,507 773,469 789,147 804,189 819,586
Goodwill (less accumulated impairment losses) 120,275 122,691 121,251 118,825 123,061
Deferred income taxes 301,784 302,212 345,804 349,946 297,261
Miscellaneous assets 165,202 166,214 168,470 173,880 227,088
Total assets $ 2,652,397 $ 2,807,470 $ 2,727,307 $ 2,718,651 $ 2,819,668
Liabilities and stockholders’ equity
Current liabilities
Accounts payable $ 80,687 $ 88,990 $ 86,104 $ 80,754 $ 83,192
Accrued payroll and other related liabilities 52,288 86,772 87,753 72,641 66,826
Unexpired subscriptions 59,549 57,336 57,050 55,725 57,870
Accrued expenses and other 112,316 118,753 197,934 198,719 198,809
Accrued income taxes 360 38,932 — — —
Liabilities held for sale 33,302 32,373 34,611 36,479 41,407
Total current liabilities 338,502 423,156 463,452 444,318 448,104
Other liabilities
Long-term debt and capital lease obligations 697,920 696,752 701,518 700,614 699,349
Pension benefits obligation 663,617 737,889 782,353 800,946 813,905
Postretirement benefits obligation 109,500 110,347 100,248 101,397 102,689
Other 166,434 173,690 175,949 176,305 171,944
Total other liabilities 1,637,471 1,718,678 1,760,068 1,779,262 1,787,887
Stockholders’ equity
Common stock of $.10 par value:
Class A 15,045 15,027 15,023 15,009 15,005
Class B 82 82 82 82 82
Additional paid-in capital 27,656 25,610 31,181 34,278 35,820
Retained earnings 1,234,023 1,230,450 1,052,327 1,049,580 1,137,203
Common stock held in treasury, at cost (93,506) (96,278) (102,690) (107,572) (110,827)
Accumulated other comprehensive loss, net of income taxes:
Foreign currency translation adjustments 9,858 11,327 10,418 8,286 12,382
Unrealized (loss)/gain on available-for-sale security (1,242) (431) 732 2,102 4,109
Funded status of benefit plans (518,554) (523,462) (506,334) (509,763) (513,193)
Total accumulated other comprehensive loss, net of
income taxes (509,938) (512,566) (495,184) (499,375) (496,702)
Total New York Times Company stockholders’
equity 673,362 662,325 500,739 492,002 580,581
Noncontrolling interest 3,062 3,311 3,048 3,069 3,096
Total stockholders’ equity 676,424 665,636 503,787 495,071 583,677
Total liabilities and stockholders’ equity $ 2,652,397 $ 2,807,470 $ 2,727,307 $ 2,718,651 $ 2,819,668