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SEC Filings

10-K
GRAHAM HOLDINGS CO filed this Form 10-K on 02/23/2018
Entire Document
 


GRAHAM HOLDINGS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
 
Year Ended December 31
(in thousands, except per share amounts)
2017
 
2016
 
2015
Operating Revenues
 
 
 
 
 
Education
$
1,517,659

 
$
1,598,347

 
$
1,927,405

Advertising
305,373

 
330,902

 
299,076

Other
768,814

 
552,641

 
359,633

 
2,591,846

 
2,481,890

 
2,586,114

Operating Costs and Expenses
 
 
 
 
 
Operating
1,359,842

 
1,180,945

 
1,206,153

Selling, general and administrative
909,592

 
904,517

 
1,104,163

Depreciation of property, plant and equipment
62,509

 
64,620

 
77,906

Amortization of intangible assets
41,187

 
26,671

 
19,017

Impairment of goodwill and other long-lived assets
9,614

 
1,603

 
259,700

 
2,382,744

 
2,178,356

 
2,666,939

Income (Loss) from Operations
209,102

 
303,534

 
(80,825
)
Equity in losses of affiliates, net
(3,249
)
 
(7,937
)
 
(697
)
Interest income
6,581

 
3,093

 
1,909

Interest expense
(33,886
)
 
(35,390
)
 
(32,654
)
Other income (expense), net
4,241

 
(12,642
)
 
(8,623
)
Income (Loss) from Continuing Operations Before Income Taxes
182,789

 
250,658

 
(120,890
)
(Benefit from) Provision for Income Taxes
(119,700
)
 
81,200

 
20,500

Income (Loss) from Continuing Operations
302,489

 
169,458

 
(141,390
)
Income from Discontinued Operations, Net of Tax

 

 
42,170

Net Income (Loss)
302,489

 
169,458

 
(99,220
)
Net Income Attributable to Noncontrolling Interests
(445
)
 
(868
)
 
(1,435
)
Net Income (Loss) Attributable to Graham Holdings Company
302,044

 
168,590

 
(100,655
)
Redeemable Preferred Stock Dividends

 

 
(631
)
Net Income (Loss) Attributable to Graham Holdings Company Common Stockholders
$
302,044

 
$
168,590

 
$
(101,286
)
Amounts Attributable to Graham Holdings Company Common Stockholders
 
 
 
 
 
Income (loss) from continuing operations
$
302,044

 
$
168,590

 
$
(143,456
)
Income from discontinued operations, net of tax

 

 
42,170

Net income (loss) attributable to Graham Holdings Company common stockholders
$
302,044

 
$
168,590

 
$
(101,286
)
Per Share Information Attributable to Graham Holdings Company Common Stockholders
 
 
 
 
 
Basic income (loss) per common share from continuing operations
$
54.24

 
$
29.95

 
$
(25.23
)
Basic income per common share from discontinued operations

 

 
7.36

Basic net income (loss) per common share
$
54.24

 
$
29.95

 
$
(17.87
)
Basic average number of common shares outstanding
5,516

 
5,559

 
5,727

Diluted income (loss) per common share from continuing operations
$
53.89

 
$
29.80

 
$
(25.23
)
Diluted income per common share from discontinued operations

 

 
7.36

Diluted net income (loss) per common share
$
53.89

 
$
29.80

 
$
(17.87
)
Diluted average number of common shares outstanding
5,552

 
5,589

 
5,727

See accompanying Notes to Consolidated Financial Statements.

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