Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | ||
Sep. 30, 2013 | Nov. 01, 2013 | Nov. 01, 2013 | |
Class A Common Stock [Member] | Class B Common Stock [Member] | ||
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 30-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Trading Symbol | 'wpo | ' | ' |
Entity Registrant Name | 'WASHINGTON POST CO | ' | ' |
Entity Central Index Key | '0000104889 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 1,169,073 | 6,214,516 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Revenues [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Education | $546,452 | $548,230 | $527,815 | $546,341 | $551,696 | $551,774 | $546,685 | $1,622,497 | $1,650,155 | $2,196,496 | $2,404,459 |
Advertising | 84,444 | 96,670 | 82,994 | 117,696 | 105,855 | 94,649 | 82,600 | 264,108 | 283,104 | 400,800 | 327,877 |
Subscriber and circulation | 190,302 | 192,273 | 186,790 | 186,383 | 185,326 | 182,639 | 178,022 | 569,365 | 545,987 | 732,370 | 710,253 |
Other | 81,281 | 52,423 | 39,241 | 45,471 | 34,760 | 25,368 | 20,305 | 172,945 | 80,433 | 125,904 | 83,408 |
Total Operating Revenues | 902,479 | 889,596 | 836,840 | 895,891 | 877,637 | 854,430 | 827,612 | 2,628,915 | 2,559,679 | 3,455,570 | 3,525,997 |
Operating Costs and Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | 430,889 | 400,515 | 381,965 | 389,620 | 407,364 | 387,167 | 382,106 | 1,213,369 | 1,176,637 | 1,566,257 | 1,562,615 |
Selling, general and administrative | 331,247 | 323,182 | 337,865 | 336,262 | 314,359 | 335,054 | 347,841 | 992,294 | 997,254 | 1,333,516 | 1,383,660 |
Depreciation of property, plant and equipment | 55,633 | 57,816 | 59,895 | 73,731 | 57,588 | 56,594 | 56,165 | 173,344 | 170,347 | 244,078 | 223,403 |
Amortization of intangible assets | 2,837 | 3,313 | 3,717 | 7,610 | 5,090 | 4,407 | 3,839 | 9,867 | 13,336 | 20,946 | 22,201 |
Impairment of goodwill and other long-lived assets | ' | ' | ' | 111,593 | ' | 0 | 0 | ' | ' | 111,593 | 0 |
Total Operating Costs and Expenses | 820,606 | 784,826 | 783,442 | 918,816 | 784,401 | 783,222 | 789,951 | 2,388,874 | 2,357,574 | 3,276,390 | 3,191,879 |
Income from Operations | 81,873 | 104,770 | 53,398 | -22,925 | 93,236 | 71,208 | 37,661 | 240,041 | 202,105 | 179,180 | 334,118 |
Equity in earnings of affiliates, net | 5,892 | 3,868 | 3,418 | 2,785 | 4,099 | 3,314 | 3,888 | 13,178 | 11,301 | 14,086 | 5,949 |
Interest income | 642 | 522 | 510 | 901 | 648 | 775 | 1,069 | 1,674 | 2,492 | 3,393 | 4,147 |
Interest expense | -9,221 | -9,048 | -8,960 | -9,064 | -8,738 | -8,979 | -9,163 | -27,229 | -26,880 | -35,944 | -33,226 |
Other income (expense), net | 8,110 | -12,858 | -4,083 | -17,572 | 4,163 | -635 | 8,588 | -8,831 | 12,116 | -5,456 | -55,200 |
Income from Continuing Operations Before Income Taxes | 87,296 | 87,254 | 44,283 | -45,875 | 93,408 | 65,683 | 42,043 | 218,833 | 201,134 | 155,259 | 255,788 |
Provision for Income Taxes | 31,000 | 34,500 | 17,800 | 5,100 | 37,000 | 23,900 | 17,200 | 83,300 | 78,100 | 83,200 | 104,400 |
Income from Continuing Operations | 56,296 | 52,754 | 26,483 | -50,975 | 56,408 | 41,783 | 24,843 | 135,533 | 123,034 | 72,059 | 151,388 |
(Loss) Income from Discontinued Operations, Net of Tax | -25,872 | -7,620 | -21,224 | 5,600 | 37,539 | 10,264 | 6,725 | -54,716 | 54,528 | 60,128 | -34,231 |
Net Income | 30,424 | 45,134 | 5,259 | -45,375 | 93,947 | 52,047 | 31,568 | 80,817 | 177,562 | 132,187 | 117,157 |
Net (Income) Loss Attributable to Noncontrolling Interest | -75 | -253 | -97 | -64 | 71 | -11 | -70 | -425 | -10 | -74 | -7 |
Net Income Attributable to The Washington Post Company | 30,349 | 44,881 | 5,162 | -45,439 | 94,018 | 52,036 | 31,498 | 80,392 | 177,552 | 132,113 | 117,150 |
Redeemable Preferred Stock Dividends | -205 | -206 | -444 | 0 | -222 | -222 | -451 | -855 | -895 | -895 | -917 |
Net Income Attributable to The Washington Post Company Common Stockholders | 30,144 | 44,675 | 4,718 | -45,439 | 93,796 | 51,814 | 31,047 | 79,537 | 176,657 | 131,218 | 116,233 |
Amounts Attributable to The Washington Post Company Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | 56,016 | 52,295 | 25,942 | -51,039 | 56,257 | 41,550 | 24,322 | 134,253 | 122,129 | 71,090 | 150,464 |
(Loss) income from discontinued operations, net of tax | -25,872 | -7,620 | -21,224 | 5,600 | 37,539 | 10,264 | 6,725 | -54,716 | 54,528 | 60,128 | -34,231 |
Net income attributable to The Washington Post Company common stockholders | $30,144 | $44,675 | $4,718 | ($45,439) | $93,796 | $51,814 | $31,047 | $79,537 | $176,657 | $131,218 | $116,233 |
Per Share Information Attributable to The Washington Post Company Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic income per common share from continuing operations | $7.55 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.09 | $16.17 | $9.22 | $19.03 |
Basic (loss) income per common share from discontinued operations | ($3.48) | ($1.03) | ($2.86) | $0.78 | $5.06 | $1.36 | $0.90 | ($7.37) | $7.22 | $8.17 | ($4.33) |
Basic net income per common share | $4.07 | $6.02 | $0.64 | ($6.57) | $12.64 | $6.84 | $4.07 | $10.72 | $23.39 | $17.39 | $14.70 |
Basic average number of common shares outstanding | 7,231 | ' | ' | ' | 7,272 | ' | ' | 7,229 | 7,405 | ' | ' |
Diluted income per common share from continuing operations | $7.53 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.07 | $16.17 | $9.22 | $19.03 |
Diluted (loss) income per common share from discontinued operations | ($3.48) | ($1.03) | ($2.86) | $0.78 | $5.06 | $1.36 | $0.90 | ($7.37) | $7.22 | $8.17 | ($4.33) |
Diluted net income per common share | $4.05 | $6.02 | $0.64 | ($6.57) | $12.64 | $6.84 | $4.07 | $10.70 | $23.39 | $17.39 | $14.70 |
Diluted average number of common shares outstanding | 7,337 | ' | ' | ' | 7,376 | ' | ' | 7,316 | 7,508 | ' | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Consolidated Statements of Comprehensive Income | ' | ' | ' | ' |
Net Income | $30,424 | $93,947 | $80,817 | $177,562 |
Foreign currency translation adjustments: | ' | ' | ' | ' |
Translation adjustments arising during the period | 5,639 | 5,321 | -2,061 | 4,233 |
Adjustment for sales of businesses with foreign operations | 0 | -1,409 | 0 | -888 |
Total foreign currency translation adjustments, before tax | 5,639 | 3,912 | -2,061 | 3,345 |
Unrealized gains (losses) on available-for-sale securities: | ' | ' | ' | ' |
Unrealized gains (losses) for the period | 938 | -5,966 | 81,439 | 32,939 |
Reclassification adjustment for gain on available-for-sale securities included in net income | 0 | 0 | -884 | -772 |
Total unrealized gains (losses) on available-for-sale securities, before tax | 938 | -5,966 | 80,555 | 32,167 |
Pension and other postretirement plans: | ' | ' | ' | ' |
Amortization of net prior service credit included in net income | -384 | -469 | -1,205 | -1,390 |
Amortization of net actuarial loss included in net income | 2,004 | 2,592 | 6,325 | 6,839 |
Settlement gain included in net income | 0 | 0 | -3,471 | 0 |
Total pension and other postretirement plans, before tax | 1,620 | 2,123 | 1,649 | 5,449 |
Cash flow hedge gain (loss) | 15 | 217 | 259 | -1,160 |
Other Comprehensive Income, Before Tax | 8,212 | 286 | 80,402 | 39,801 |
Income tax (expense) benefit related to items of other comprehensive income | -1,028 | 1,451 | -32,985 | -14,580 |
Other Comprehensive Income, Net of Tax | 7,184 | 1,737 | 47,417 | 25,221 |
Comprehensive Income | 37,608 | 95,684 | 128,234 | 202,783 |
Comprehensive (income) loss attributable to noncontrolling interests | -75 | 76 | -447 | -31 |
Total Comprehensive Income Attributable to The Washington Post Company | $37,533 | $95,760 | $127,787 | $202,752 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $440,810 | $512,431 |
Restricted cash | 47,205 | 28,538 |
Investments in marketable equity securities and other investments | 497,662 | 418,938 |
Accounts receivable, net | 375,223 | 399,204 |
Deferred income taxes | 0 | 3,974 |
Inventories | 2,484 | 7,985 |
Other current assets | 76,936 | 82,692 |
Current assets of discontinued operations | 70,360 | 0 |
Total Current Assets | 1,510,680 | 1,453,762 |
Property, Plant and Equipment, Net | 910,636 | 1,081,237 |
Investments In Affiliates | 32,997 | 15,535 |
Goodwill, Net | 1,293,482 | 1,317,915 |
Indefinite-Lived Intangible Assets, Net | 541,478 | 539,728 |
Amortized Intangible Assets, Net | 43,542 | 45,577 |
Prepaid Pension Cost | 529,165 | 604,823 |
Deferred Charges and Other Assets | 49,161 | 46,492 |
Noncurrent Assets of Discontinued Operations | 184,740 | 0 |
Total Assets | 5,095,881 | 5,105,069 |
Liabilities and Equity | ' | ' |
Accounts payable and accrued liabilities | 478,827 | 486,396 |
Income taxes payable | 22,341 | 726 |
Deferred income taxes | 29,669 | 0 |
Deferred revenue | 402,074 | 395,837 |
Dividends declared | 206 | 0 |
Short-term borrowings | 3,022 | 243,327 |
Current liabilities of discontinued operations | 57,823 | 0 |
Total Current Liabilities | 993,962 | 1,126,286 |
Postretirement Benefits Other Than Pensions | 36,301 | 59,949 |
Accrued Compensation and Related Benefits | 215,649 | 216,280 |
Other Liabilities | 86,021 | 109,774 |
Deferred Income Taxes | 521,489 | 529,427 |
Long-Term Debt | 448,067 | 453,384 |
Noncurrent Liabilities of Discontinued Operations | 45,732 | 0 |
Total Liabilities | 2,347,221 | 2,495,100 |
Redeemable Noncontrolling Interest | 5,982 | 12,655 |
Redeemable Preferred Stock | 10,665 | 11,096 |
Preferred Stock | 0 | 0 |
Common Stockholders' Equity | ' | ' |
Common stock | 20,000 | 20,000 |
Capital in excess of par value | 261,751 | 240,746 |
Retained earnings | 4,626,311 | 4,546,775 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' |
Cumulative foreign currency translation adjustment | 24,011 | 26,072 |
Unrealized gain on available-for-sale securities | 158,886 | 110,553 |
Unrealized gain on pensions and other postretirement plans | 118,159 | 117,169 |
Cash flow hedge | -785 | -940 |
Cost of Class B common stock held in treasury | -2,476,613 | -2,474,347 |
Total Common Stockholders' Equity | 2,731,720 | 2,586,028 |
Noncontrolling interests | 293 | 190 |
Total Equity | 2,732,013 | 2,586,218 |
Total Liabilities and Equity | $5,095,881 | $5,105,069 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Cash of discontinued operations | $849 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash Flows from Operating Activities | ' | ' |
Net Income | $80,817 | $177,562 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation of property, plant and equipment | 191,388 | 190,111 |
Amortization of intangible assets | 9,867 | 13,833 |
Net pension expense | 11,425 | 9,980 |
Early retirement program expense | 22,700 | 8,508 |
Stock-based compensation | 34,429 | 10,570 |
Foreign exchange loss (gain) | 9,350 | -3,179 |
Net loss (gain) on sales of businesses | 70 | -23,759 |
Net gain on sales or write-downs of marketable equity securities and cost method investments | -714 | -7,237 |
Equity in earnings of affiliates, net of distributions | -13,168 | -10,577 |
Benefit for deferred income taxes | -8,802 | -15,756 |
Net loss on sale or write-down of property, plant and equipment and other assets | 1,476 | 545 |
Change in assets and liabilities: | ' | ' |
Increase in accounts receivable, net | -32,717 | -11,984 |
Decrease in inventories | 1,138 | 1,690 |
Increase (decrease) in accounts payable and accrued liabilities | 8,587 | -24,885 |
Increase in deferred revenue | 31,885 | 20,070 |
Increase (decrease) in income taxes payable | 21,884 | -35,341 |
(Increase) decrease in other assets and other liabilities, net | -23,329 | -7,315 |
Other | 1,340 | 2,674 |
Net Cash Provided by Operating Activities | 347,626 | 295,510 |
Cash Flows from Investing Activities | ' | ' |
Purchases of property, plant and equipment | -143,298 | -152,391 |
Investments in certain businesses, net of cash acquired | -19,927 | -8,971 |
Purchases of marketable equity securities and other investments | -12,029 | -46,324 |
Net proceeds from sales of businesses, property, plant and equipment and other assets | 5,800 | 75,106 |
Other | -3 | 1,477 |
Net Cash Used in Investing Activities | -169,457 | -131,103 |
Cash Flows from Financing Activities | ' | ' |
Repayment of short-term borrowing | -240,121 | -109,671 |
Common shares repurchased | -4,196 | -97,545 |
Purchase of shares from a noncontrolling interest | -3,115 | 0 |
Dividends paid | -649 | -56,235 |
Other | 536 | 19,561 |
Net Cash Used in Financing Activities | -247,545 | -243,890 |
Effect of Currency Exchange Rate Change | -1,396 | 4,038 |
Net Decrease in Cash and Cash Equivalents | -70,772 | -75,445 |
Beginning Cash and Cash Equivalents | 512,431 | 381,099 |
Ending Cash and Cash Equivalents | 440,810 | 305,654 |
Ending Cash and Cash Equivalents, Including Cash of Discontinued Operations | $441,659 | ' |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Common Shareholders' Equity (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Beginning Balance | ' | ' | $2,586,218 | ' | ' | ' | ' | $2,586,218 | ' | ' | ' |
Net income for the year | 30,424 | 45,134 | 5,259 | -45,375 | 93,947 | 52,047 | 31,568 | 80,817 | 177,562 | 132,187 | 117,157 |
Net income attributable to noncontrolling interest(s) | 75 | 253 | 97 | 64 | -71 | 11 | 70 | 425 | 10 | 74 | 7 |
Dividends paid on redeemable preferred stock | 205 | 206 | 444 | 0 | 222 | 222 | 451 | 855 | 895 | 895 | 917 |
Repurchase of Class B common stock | ' | ' | ' | ' | ' | ' | ' | 4,196 | 97,545 | ' | ' |
Cumulative Foreign Currency Translation Adjustment - Net other comprehensive income (loss) | 5,639 | ' | ' | ' | 3,912 | ' | ' | -2,061 | 3,345 | ' | ' |
Unrealized Gain on Available-for-Sale Securities - Net other comprehensive income (loss) | 563 | ' | ' | ' | -3,579 | ' | ' | 48,333 | 19,301 | ' | ' |
Unrealized Gain on Pensions and Other Postretirement Plans - Net other comprehensive income (loss) | -973 | ' | ' | ' | -1,274 | ' | ' | -990 | -3,270 | ' | ' |
Cash Flow Hedge | 9 | ' | ' | ' | 130 | ' | ' | 155 | -695 | ' | ' |
Ending Balance | $2,732,013 | ' | ' | $2,586,218 | ' | ' | ' | $2,732,013 | ' | $2,586,218 | ' |
Organization_Basis_of_Presenta
Organization, Basis of Presentation and Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Basis Of Presentation And Recent Accounting Pronouncements [Abstract] | ' |
Organization, Basis of Presentation and Recent Accounting Pronouncements | ' |
1. ORGANIZATION, BASIS OF PRESENTATION AND RECENT ACCOUNTING PRONOUNCEMENTS | |
The Washington Post Company, Inc. (the Company) is a diversified education and media company. The Company's Kaplan subsidiary provides a wide variety of educational services, both domestically and outside the United States. The Company's media operations consist of the ownership and operation of cable television systems and television broadcasting (through the ownership and operation of six television broadcast stations). | |
The Company announced on August 5, 2013 that it had entered into an agreement to sell The Washington Post, and some other newspaper publishing entities. On October 1, 2013, the Company completed such sale. The operating results of The Washington Post and publishing businesses sold have been presented in (loss) income from discontinued operations, net of tax, for all periods presented. | |
Financial Periods – The Company and its subsidiaries report on a calendar-quarter basis. | |
Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (GAAP) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations, and cash flows as of and for the periods presented herein. The Company's results of operations for the three and nine months ended September 30, 2013 and 2012 may not be indicative of the Company's future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012. | |
The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. | |
Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain businesses as discontinued operations for all periods presented. | |
Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates. | |
Assets Held for Sale – An asset or business is classified as held for sale when (i) management commits to a plan to sell the asset or business; (ii) the asset or business is available for immediate sale in its present condition; (iii) the asset or business is actively marketed for sale at a reasonable price; (iv) the sale is expected to be completed within one year; and (v) it is unlikely significant changes to the plan will be made or that the plan will be withdrawn. The assets and related liabilities are aggregated and reported separately in the Company's condensed consolidated balance sheet. | |
Recently Adopted and Issued Accounting Pronouncements – In February 2013, the Financial Accounting Standards Board (FASB) issued final guidance on the presentation of reclassifications out of other comprehensive income to net income. The amendment requires an entity to provide information about the amounts reclassified out of other comprehensive income by component. In addition, an entity is required to present, either on the face of the income statement or in a footnote, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income, only if the amount reclassified is required by GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide detail about those amounts. This amendment is effective for interim and fiscal years beginning after December 15, 2012. The adoption of the amendment in the first quarter of 2013 is reflected in the Company's Notes to Condensed Consolidated Financial Statements. |
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Discontinued Operations [Abstract] | ' | ||||||||||||||
Discontinued Operations [Text Block] | ' | ||||||||||||||
2. DISCONTINUED OPERATIONS | |||||||||||||||
On August 5, 2013, after approval by the Company's Board of Directors on the same day, the Company announced that it had entered into a binding letter agreement (the Letter Agreement) with Nash Holdings LLC, a Delaware limited liability company (the Purchaser), and Explore Holdings LLC, a Washington limited liability company, as guarantor (the Guarantor), to sell all the issued and outstanding equity securities of each of WP Company LLC, Express Publications Company, LLC, El Tiempo Latino, LLC, Robinson Terminal Warehouse, LLC, Greater Washington Publishing, LLC and Post-Newsweek Media, LLC (the Publishing Subsidiaries). The Publishing Subsidiaries together conducted most of the Company's publishing businesses, including publishing The Washington Post, Express, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times and El Tiempo Latino and related websites, and operating Washington Post Live and Washington Post News Media Services and the Company's commercial printing and distribution business and paper handling and storage business (collectively, the Publishing Business), subject to satisfying certain conditions. | |||||||||||||||
On October 1, 2013, the Company entered into a Purchase Agreement and completed the sale. Under the terms of the Purchase Agreement, the Purchaser acquired all the issued and outstanding equity securities of each of the entities that comprise the Publishing Subsidiaries for $250 million, subject to customary adjustment for cash, debt and working capital of the Publishing Subsidiaries at closing. The Purchaser also acquired all other assets of the Company primarily related to the Publishing Business, including all of the Company's rights in the name “The Washington Post”. The Company will change its corporate name within 60 days of the October 1 closing. The Company retained its interest in Classified Ventures, LLC, Slate magazine, TheRoot.com and Foreign Policy, as well as the WaPo Labs and SocialCode business and certain real estate, including the headquarters building in downtown Washington, DC and certain land and property in Alexandria, VA. The liabilities under the Retirement Plan for The Washington Post Companies relating to the active employees of the Publishing Business will be transferred to the Purchaser, along with pension assets that have a value equal to the projected benefit obligation in respect of these active employees plus an additional $50 million. The results of operations of Publishing Subsidiaries for the three and nine months ended September 30, 2013 and 2012, are included in the Company's Condensed Consolidated Statements of Operations as Income (Loss) from Discontinued Operations, Net of Tax. | |||||||||||||||
The Company will not record the gain or the net proceeds on the sale until the fourth quarter of 2013; however, the Company recognized $28.4 million (after-tax impact of $18.3 million) in expenses related to the sale that are included in discontinued operations in the third quarter of 2013. These costs include the net impact of accelerated vesting provisions and forfeitures of restricted stock awards and stock options that were made in contemplation of the sale, and certain other transaction-related expenses. Also included in discontinued operations is $22.7 million (after-tax basis of $14.5 million) in early retirement program expense for the first nine months of 2013 and $7.5 million (after-tax basis of $4.6 million) and $8.5 million (after-tax basis of $5.3 million) for the third quarter and first nine months of 2012, respectively. The historical pension and postretirement benefits expense for retirees has been excluded from the reclassification of the Publishing Subsidiaries' results to discontinued operations, since the associated assets and liabilities will be retained by the Company. Although the Company has retained ownership of certain real estate assets, including the headquarters building in downtown Washington, DC, related operating costs are included in the reclassification of the Publishing Subsidiaries' results to discontinued operations since the Purchase Agreement includes a lease to the buyer for the real estate assets that provides for recovery of operating costs by the Company. | |||||||||||||||
All corresponding prior period operating results presented in the Company's Condensed Consolidated Financial Statements and the accompanying notes have been reclassified to reflect the discontinued operations presented. The assets and liabilities of the Publishing Subsidiaries have been classified on the Company's condensed consolidated balance sheet as assets and liabilities of discontinued operations as of September 30, 2013. The Company did not reclassify its Statements of Cash Flows or prior Condensed Consolidated Balance Sheets to reflect the discontinued operations. | |||||||||||||||
The carrying amounts of the major classes of assets and liabilities of the Publishing Subsidiaries included in discontinued operations at September 30, 2013 are as follows: | |||||||||||||||
September 30, | |||||||||||||||
(in thousands) | 2013 | ||||||||||||||
Cash and cash equivalents | $ | 849 | |||||||||||||
Accounts receivable, net | 60,369 | ||||||||||||||
Inventories | 3,965 | ||||||||||||||
Other current assets | 5,177 | ||||||||||||||
Current Assets of Discontinued Operations | $ | 70,360 | |||||||||||||
Property, plant and equipment, net | $ | 116,639 | |||||||||||||
Goodwill, net | 13,602 | ||||||||||||||
Prepaid pension cost | 50,000 | ||||||||||||||
Deferred charges and other assets | 4,499 | ||||||||||||||
Noncurrent Assets of Discontinued Operations | $ | 184,740 | |||||||||||||
Accounts payable and accrued liabilities | $ | 35,616 | |||||||||||||
Deferred revenue | 22,207 | ||||||||||||||
Current Liabilities of Discontinued Operations | $ | 57,823 | |||||||||||||
Postretirement benefits other than pensions | $ | 24,999 | |||||||||||||
Accrued compensation and related benefits | 8,998 | ||||||||||||||
Other liabilities | 11,735 | ||||||||||||||
Noncurrent Liabilities of Discontinued Operations | $ | 45,732 | |||||||||||||
In March 2013, the Company completed the sale of The Herald, a daily and Sunday newspaper headquartered in Everett, WA. Under the terms of the agreement, the purchaser received most of the assets and liabilities; however, certain land and buildings and other assets and liabilities were retained by the Company. The results of operations of The Herald for the three and nine months ended September 30, 2013 and 2012, are included in the Company's Condensed Consolidated Statements of Operations as Income (Loss) from Discontinued Operations, Net of Tax. | |||||||||||||||
In August 2012, the Company completed the sale of Kidum and recorded a pre-tax gain of $3.6 million and an after-tax gain of $10.2 million related to this sale in the third quarter of 2012. On July 31, 2012, the Company disposed of its interest in Avenue100 Media Solutions, Inc. and recorded a pre-tax loss of $5.7 million related to the disposition. An income tax benefit of $44.5 million was also recorded in the third quarter of 2012 as the Company determined that Avenue100 had no value. The income tax benefit was due to the Company's tax basis in the stock of Avenue100 exceeding its net book value, as a result of goodwill and other intangible asset impairment charges recorded in 2008, 2010 and 2011 for which no tax benefit was previously recorded. In April 2012, the Company completed the sale of Kaplan EduNeering. Under the terms of the agreement, the purchaser acquired the stock of EduNeering and received substantially all the assets and liabilities. In the second quarter of 2012, the Company recorded an after-tax gain of $18.5 million related to this sale. In February 2012, Kaplan completed the stock sale of Kaplan Learning Technologies (KLT) and recorded an after-tax loss on the sale of $1.9 million. The Company recorded $23.2 million of income tax benefits in the first quarter of 2012 in connection with the sale of its stock in EduNeering and KLT related to the excess of the outside stock tax basis over the net book value of the net assets disposed. The results of operations of Kidum, Avenue100, EduNeering, and KLT, for the three and nine months ended September 30, 2012 are included in the Company's Condensed Consolidated Statement of Operations as Income (Loss) from Discontinued Operations, Net of Tax. | |||||||||||||||
The summarized income (loss) from discontinued operations, net of tax, is presented below: | |||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Operating revenues | $ | 124,725 | $ | 137,668 | $ | 382,705 | $ | 441,308 | |||||||
Operating costs and expenses | -165,380 | -155,701 | -467,434 | -491,698 | |||||||||||
Loss from discontinued operations | -40,655 | -18,033 | -84,729 | -50,390 | |||||||||||
Benefit from income taxes | -14,783 | -5,568 | -30,059 | -16,568 | |||||||||||
Net Loss from Discontinued Operations | -25,872 | -12,465 | -54,670 | -33,822 | |||||||||||
(Loss) gain on sales of discontinued operations | ― | -2,174 | -70 | 23,759 | |||||||||||
Benefit from income taxes on sales of discontinued operations | ― | -52,178 | -24 | -64,591 | |||||||||||
(Loss) Income from Discontinued Operations, Net of Tax | $ | -25,872 | $ | 37,539 | $ | -54,716 | $ | 54,528 | |||||||
The following table summarizes the 2013 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations: | |||||||||||||||
March 31, | June 30, | ||||||||||||||
(in thousands, except per share amounts) | 2013 | 2013 | |||||||||||||
Operating Revenues | |||||||||||||||
Education | $ | 527,815 | $ | 548,230 | |||||||||||
Advertising | 82,994 | 96,670 | |||||||||||||
Subscriber and circulation | 186,790 | 192,273 | |||||||||||||
Other | 39,241 | 52,423 | |||||||||||||
836,840 | 889,596 | ||||||||||||||
Operating Costs and Expenses | |||||||||||||||
Operating | 381,965 | 400,515 | |||||||||||||
Selling, general and administrative | 337,865 | 323,182 | |||||||||||||
Depreciation of property, plant and equipment | 59,895 | 57,816 | |||||||||||||
Amortization of intangible assets | 3,717 | 3,313 | |||||||||||||
783,442 | 784,826 | ||||||||||||||
Income from Operations | 53,398 | 104,770 | |||||||||||||
Equity in earnings of affiliates, net | 3,418 | 3,868 | |||||||||||||
Interest income | 510 | 522 | |||||||||||||
Interest expense | -8,960 | -9,048 | |||||||||||||
Other expense, net | -4,083 | -12,858 | |||||||||||||
Income from Continuing Operations before Income Taxes | 44,283 | 87,254 | |||||||||||||
Provision for Income Taxes | 17,800 | 34,500 | |||||||||||||
Income from Continuing Operations | 26,483 | 52,754 | |||||||||||||
Loss from Discontinued Operations, Net of Tax | -21,224 | -7,620 | |||||||||||||
Net Income | 5,259 | 45,134 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -97 | -253 | |||||||||||||
Net Income Attributable to The Washington Post Company | 5,162 | 44,881 | |||||||||||||
Redeemable Preferred Stock Dividends | -444 | -206 | |||||||||||||
Net Income Attributable to The Washington Post Company Common Stockholders | $ | 4,718 | $ | 44,675 | |||||||||||
Amounts Attributable to The Washington Post Company Common Stockholders | |||||||||||||||
Income from continuing operations | $ | 25,942 | $ | 52,295 | |||||||||||
Loss from discontinued operations, net of tax | -21,224 | -7,620 | |||||||||||||
Net income attributable to the Washington Post Company common stockholders | $ | 4,718 | $ | 44,675 | |||||||||||
Per Share Information Attributable to The Washington Post Company Common Stockholders | |||||||||||||||
Basic income per common share from continuing operations | $ | 3.5 | $ | 7.05 | |||||||||||
Basic loss per common share from discontinued operations | -2.86 | -1.03 | |||||||||||||
Basic net income per common share | $ | 0.64 | $ | 6.02 | |||||||||||
Diluted income per common share from continuing operations | $ | 3.5 | $ | 7.05 | |||||||||||
Diluted loss per common share from discontinued operations | -2.86 | -1.03 | |||||||||||||
Diluted net income per common share | $ | 0.64 | $ | 6.02 | |||||||||||
The following table summarizes the 2012 quarterly operating results of the Company following the reclassification of the operations discussed above as discontinued operations: | |||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||
(in thousands, except per share amounts) | 2012 | 2012 | 2012 | 2012 | |||||||||||
Operating Revenues | |||||||||||||||
Education | $ | 546,685 | $ | 551,774 | $ | 551,696 | $ | 546,341 | |||||||
Advertising | 82,600 | 94,649 | 105,855 | 117,696 | |||||||||||
Subscriber and circulation | 178,022 | 182,639 | 185,326 | 186,383 | |||||||||||
Other | 20,305 | 25,368 | 34,760 | 45,471 | |||||||||||
827,612 | 854,430 | 877,637 | 895,891 | ||||||||||||
Operating Costs and Expenses | |||||||||||||||
Operating | 382,106 | 387,167 | 407,364 | 389,620 | |||||||||||
Selling, general and administrative | 347,841 | 335,054 | 314,359 | 336,262 | |||||||||||
Depreciation of property, plant and equipment | 56,165 | 56,594 | 57,588 | 73,731 | |||||||||||
Amortization of intangible assets | 3,839 | 4,407 | 5,090 | 7,610 | |||||||||||
Impairment of goodwill and other long-lived assets | ― | ― | ― | 111,593 | |||||||||||
789,951 | 783,222 | 784,401 | 918,816 | ||||||||||||
Income (Loss) from Operations | 37,661 | 71,208 | 93,236 | -22,925 | |||||||||||
Equity in earnings of affiliates, net | 3,888 | 3,314 | 4,099 | 2,785 | |||||||||||
Interest income | 1,069 | 775 | 648 | 901 | |||||||||||
Interest expense | -9,163 | -8,979 | -8,738 | -9,064 | |||||||||||
Other income (expense), net | 8,588 | -635 | 4,163 | -17,572 | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes | 42,043 | 65,683 | 93,408 | -45,875 | |||||||||||
Provision for Income Taxes | 17,200 | 23,900 | 37,000 | 5,100 | |||||||||||
Income (Loss) from Continuing Operations | 24,843 | 41,783 | 56,408 | -50,975 | |||||||||||
Income from Discontinued Operations, Net of Tax | 6,725 | 10,264 | 37,539 | 5,600 | |||||||||||
Net Income (Loss) | 31,568 | 52,047 | 93,947 | -45,375 | |||||||||||
Net (Income) Loss Attributable to Noncontrolling Interests | -70 | -11 | 71 | -64 | |||||||||||
Net Income (Loss) Attributable to The Washington Post Company | 31,498 | 52,036 | 94,018 | -45,439 | |||||||||||
Redeemable Preferred Stock Dividends | -451 | -222 | -222 | ― | |||||||||||
Net Income (Loss) Attributable to The Washington Post Company | |||||||||||||||
Common Stockholders | $ | 31,047 | $ | 51,814 | $ | 93,796 | $ | -45,439 | |||||||
Amounts Attributable to The Washington Post Company | |||||||||||||||
Common Stockholders | |||||||||||||||
Income (loss) from continuing operations | $ | 24,322 | $ | 41,550 | $ | 56,257 | $ | -51,039 | |||||||
Income from discontinued operations, net of tax | 6,725 | 10,264 | 37,539 | 5,600 | |||||||||||
Net income (loss) attributable to the Washington Post | |||||||||||||||
Company common stockholders | $ | 31,047 | $ | 51,814 | $ | 93,796 | $ | -45,439 | |||||||
Per Share Information Attributable to The Washington Post | |||||||||||||||
Company Common Stockholders | |||||||||||||||
Basic income (loss) per common share from continuing operations | $ | 3.17 | $ | 5.48 | $ | 7.58 | $ | -7.35 | |||||||
Basic income per common share from discontinued operations | 0.9 | 1.36 | 5.06 | 0.78 | |||||||||||
Basic net income (loss) per common share | $ | 4.07 | $ | 6.84 | $ | 12.64 | $ | -6.57 | |||||||
Diluted income (loss) per common share from continuing operations | $ | 3.17 | $ | 5.48 | $ | 7.58 | $ | -7.35 | |||||||
Diluted income per common share from discontinued operations | 0.9 | 1.36 | 5.06 | 0.78 | |||||||||||
Diluted net income (loss) per common share | $ | 4.07 | $ | 6.84 | $ | 12.64 | $ | -6.57 | |||||||
The following table summarizes the annual operating results of the Company following the reclassification of operations discussed above as discontinued operations: | |||||||||||||||
(in thousands, except per share amounts) | 2012 | 2011 | |||||||||||||
Operating Revenues | |||||||||||||||
Education | $ | 2,196,496 | $ | 2,404,459 | |||||||||||
Advertising | 400,800 | 327,877 | |||||||||||||
Subscriber and circulation | 732,370 | 710,253 | |||||||||||||
Other | 125,904 | 83,408 | |||||||||||||
3,455,570 | 3,525,997 | ||||||||||||||
Operating Costs and Expenses | |||||||||||||||
Operating | 1,566,257 | 1,562,615 | |||||||||||||
Selling, general and administrative | 1,333,516 | 1,383,660 | |||||||||||||
Depreciation of property, plant and equipment | 244,078 | 223,403 | |||||||||||||
Amortization of intangible assets | 20,946 | 22,201 | |||||||||||||
Impairment of goodwill and other long-lived assets | 111,593 | ― | |||||||||||||
3,276,390 | 3,191,879 | ||||||||||||||
Income from Operations | 179,180 | 334,118 | |||||||||||||
Equity in earnings of affiliates, net | 14,086 | 5,949 | |||||||||||||
Interest income | 3,393 | 4,147 | |||||||||||||
Interest expense | -35,944 | -33,226 | |||||||||||||
Other expense, net | -5,456 | -55,200 | |||||||||||||
Income from Continuing Operations Before Income Taxes | 155,259 | 255,788 | |||||||||||||
Provision for Income Taxes | 83,200 | 104,400 | |||||||||||||
Income from Continuing Operations | 72,059 | 151,388 | |||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax | 60,128 | -34,231 | |||||||||||||
Net Income | 132,187 | 117,157 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -74 | -7 | |||||||||||||
Net Income Attributable to The Washington Post Company | 132,113 | 117,150 | |||||||||||||
Redeemable Preferred Stock Dividends | -895 | -917 | |||||||||||||
Net Income Attributable to The Washington Post Company Common Stockholders | $ | 131,218 | $ | 116,233 | |||||||||||
Amounts Attributable to The Washington Post Company Common Stockholders | |||||||||||||||
Income from continuing operations | $ | 71,090 | $ | 150,464 | |||||||||||
Income (loss) from discontinued operations, net of tax | 60,128 | -34,231 | |||||||||||||
Net income attributable to the Washington Post Company common stockholders | $ | 131,218 | $ | 116,233 | |||||||||||
Per Share Information Attributable to The Washington Post Company Common | |||||||||||||||
Stockholders | |||||||||||||||
Basic income per common share from continuing operations | $ | 9.22 | $ | 19.03 | |||||||||||
Basic income (loss) per common share from discontinued operations | 8.17 | -4.33 | |||||||||||||
Basic net income per common share | $ | 17.39 | $ | 14.7 | |||||||||||
Diluted income per common share from continuing operations | $ | 9.22 | $ | 19.03 | |||||||||||
Diluted income (loss) per common share from discontinued operations | 8.17 | -4.33 | |||||||||||||
Diluted net income per common share | $ | 17.39 | $ | 14.7 |
Investments
Investments | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Investments [Abstract] | ' | ||||||
Investments [Text Block] | ' | ||||||
3. INVESTMENTS | |||||||
Investments in marketable equity securities comprised the following: | |||||||
As of | |||||||
September 30, | December 31, | ||||||
(in thousands) | 2013 | 2012 | |||||
Total cost | $ | 193,159 | $ | 195,832 | |||
Net unrealized gains | 264,810 | 184,255 | |||||
Total Fair Value | $ | 457,969 | $ | 380,087 | |||
There were no new investments in marketable equity securities during the first nine months of 2013. The Company invested $45.0 million in marketable equity securities during the first nine months of 2012. During the first nine months of 2013 and 2012, the proceeds from sales of marketable equity securities were $3.6 million and $2.0 million, respectively, and net realized gains on such sales were $0.9 million and $0.5 million, respectively. | |||||||
As of September 30, 2013, the Company has a $7.0 million unrealized loss on its investment in Strayer Education, Inc., a publicly traded company. At September 30, 2013, the investment has been in an unrealized loss position for under six months. The Company evaluated this investment for other-than-temporary impairment based on various factors, including the duration and severity of the unrealized loss, the reason for the decline in value and the potential recovery period, and the ability and intent to hold the investment and concluded that the unrealized loss is not other-than-temporary as of September 30, 2013. If any impairment is considered other-than-temporary, the investment will be written down to its fair market value with a corresponding charge to the Consolidated Statement of Operations. |
Acquisitions_and_Dispositions
Acquisitions and Dispositions | 9 Months Ended |
Sep. 30, 2013 | |
Acquisitions And Dispositions [Abstract] | ' |
Acquisitions and Dispositions [Text Block] | ' |
4. ACQUISITIONS AND DISPOSITIONS | |
Acquisitions. In the first nine months of 2013, the Company acquired five small businesses included in other businesses and in its education division; the purchase price allocation mostly comprised goodwill and other intangible assets on a preliminary basis. In the first nine months of 2012, the Company acquired four small businesses included in its education division and in other businesses; the purchase price allocation mostly comprised goodwill and other intangible assets. The assets and liabilities of the companies acquired have been recorded at their estimated fair values at the date of acquisition. | |
On August 1, 2013, the Company completed its acquisition of Forney Corporation, a global supplier of products and systems that control and monitor combustion processes in electric utility and industrial applications. The operating results of Forney are included in other businesses. | |
In the second quarter of 2013, Kaplan purchased the remaining 15% noncontrolling interest in Kaplan China; this additional interest was accounted for as an equity transaction. | |
In September 2012, the Company entered into a stock purchase agreement to acquire a controlling interest in Celtic Healthcare, Inc. (Celtic), a provider of home healthcare and hospice services in the northeastern and mid-Atlantic regions. The transaction closed on November 5, 2012. The operating results of Celtic are included in other businesses. | |
Dispositions. On August 5, 2013, the Company announced that it had entered into an agreement to sell its Publishing Subsidiaries that together conducted most of the Company's publishing business and related services, including publishing The Washington Post, Express, The Gazette Newspapers, Southern Maryland Newspapers, Fairfax County Times and El Tiempo Latino and related websites. Slate magazine, TheRoot.com and Foreign Policy are not part of the transaction and will remain with The Washington Post Company, as will the WaPo Labs and SocialCode businesses, the Company's interest in Classified Ventures and certain real estate assets, including the headquarters building in downtown Washington, DC. On October 1, 2013, the Company completed the sale. | |
In March 2013, the Company completed the sale of The Herald, a daily and Sunday newspaper headquartered in Everett, WA. The Herald was previously reported in the newspaper publishing division. | |
The Company divested its interested in Avenue100 Media Solutions in July 2012, which was previously reported in other businesses. Kaplan completed the sales of Kidum in August 2012, EduNeering in April 2012 and Kaplan Learning Technologies in February 2012, which were part of the Kaplan Ventures division. | |
Consequently, the Company's income from continuing operations excludes these sold businesses, which have been reclassified to discontinued operations, net of tax (see Note 2). |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Goodwill and Other Intangible Assets [Abstract] | ' | ||||||||||||||||||||
Goodwill and Other Intangible Assets [Text Block] | ' | ||||||||||||||||||||
5. GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||||||
Amortization of intangible assets for the three months ended September 30, 2013 and 2012 was $2.8 million and $5.1 million, respectively. Amortization of intangible assets for the nine months ended September 30, 2013 and 2012 was $9.9 million and $13.3 million, respectively. Amortization of intangible assets is estimated to be approximately $4 million for the remainder of 2013, $11 million in 2014, $9 million in 2015, $8 million in 2016, $5 million in 2017, $4 million in 2018 and $3 million thereafter. | |||||||||||||||||||||
The changes in the carrying amount of goodwill, by segment, were as follows: | |||||||||||||||||||||
Cable | Newspaper | Television | Other | ||||||||||||||||||
(in thousands) | Education | Television | Publishing | Broadcasting | Businesses | Total | |||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||
Goodwill | $ | 1,097,058 | $ | 85,488 | $ | 81,183 | $ | 203,165 | $ | 19,052 | $ | 1,485,946 | |||||||||
Accumulated impairment losses | -102,259 | ― | -65,772 | ― | ― | -168,031 | |||||||||||||||
994,799 | 85,488 | 15,411 | 203,165 | 19,052 | 1,317,915 | ||||||||||||||||
Reallocation, net | ― | ― | -1,809 | ― | 1,809 | ― | |||||||||||||||
Acquisitions | ― | ― | ― | ― | 7,924 | 7,924 | |||||||||||||||
Reclassification to discontinued operations | ― | ― | -13,602 | ― | ― | -13,602 | |||||||||||||||
Foreign currency exchange rate changes | -18,755 | ― | ― | ― | ― | -18,755 | |||||||||||||||
Balance as of September 30, 2013 | |||||||||||||||||||||
Goodwill | 1,078,303 | 85,488 | ― | 203,165 | 34,867 | 1,401,823 | |||||||||||||||
Accumulated impairment losses | -102,259 | ― | ― | ― | -6,082 | -108,341 | |||||||||||||||
$ | 976,044 | $ | 85,488 | $ | ― | $ | 203,165 | $ | 28,785 | $ | 1,293,482 | ||||||||||
The changes in carrying amount of goodwill at the Company's education division were as follows: | |||||||||||||||||||||
Higher | Test | Kaplan | |||||||||||||||||||
(in thousands) | Education | Preparation | International | Total | |||||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||
Goodwill | $ | 409,184 | $ | 152,187 | $ | 535,687 | $ | 1,097,058 | |||||||||||||
Accumulated impairment losses | ― | -102,259 | ― | -102,259 | |||||||||||||||||
409,184 | 49,928 | 535,687 | 994,799 | ||||||||||||||||||
Foreign currency exchange rate changes | -79 | ― | -18,676 | -18,755 | |||||||||||||||||
Balance as of September 30, 2013 | |||||||||||||||||||||
Goodwill | 409,105 | 152,187 | 517,011 | 1,078,303 | |||||||||||||||||
Accumulated impairment losses | ― | -102,259 | ― | -102,259 | |||||||||||||||||
$ | 409,105 | $ | 49,928 | $ | 517,011 | $ | 976,044 | ||||||||||||||
Other intangible assets consist of the following: | |||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||
Gross | Net | Gross | Net | ||||||||||||||||||
Useful Life | Carrying | Accumulated | Carrying | Carrying | Accumulated | Carrying | |||||||||||||||
(in thousands) | Range | Amount | Amortization | Amount | Amount | Amortization | Amount | ||||||||||||||
Amortized Intangible Assets | |||||||||||||||||||||
Non-compete agreements | 2-5 years | $ | 14,054 | $ | 13,038 | $ | 1,016 | $ | 14,008 | $ | 12,546 | $ | 1,462 | ||||||||
Student and customer relationships | 2-10 years | 70,918 | 42,141 | 28,777 | 73,693 | 40,787 | 32,906 | ||||||||||||||
Databases and technology | 3-5 years | 10,539 | 6,457 | 4,082 | 6,457 | 5,707 | 750 | ||||||||||||||
Trade names and trademarks | 2-10 years | 26,100 | 19,124 | 6,976 | 26,634 | 18,185 | 8,449 | ||||||||||||||
Other | 1-25 years | 9,828 | 7,137 | 2,691 | 8,849 | 6,839 | 2,010 | ||||||||||||||
$ | 131,439 | $ | 87,897 | $ | 43,542 | $ | 129,641 | $ | 84,064 | $ | 45,577 | ||||||||||
Indefinite-Lived Intangible Assets | |||||||||||||||||||||
Franchise agreements | $ | 496,321 | $ | 496,321 | |||||||||||||||||
Wireless licenses | 22,150 | 22,150 | |||||||||||||||||||
Licensure and accreditation | 7,371 | 7,371 | |||||||||||||||||||
Other | 15,636 | 13,886 | |||||||||||||||||||
$ | 541,478 | $ | 539,728 |
Debt
Debt | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Debt [Abstract] | ' | |||||
Debt [Text Block] | ' | |||||
6. DEBT | ||||||
The Company's borrowings consist of the following: | ||||||
As of | ||||||
September 30, | December 31, | |||||
(in thousands) | 2013 | 2012 | ||||
7.25% unsecured notes due February 1, 2019 | $ | 397,790 | $ | 397,479 | ||
USD Revolving credit borrowing | ― | 240,121 | ||||
AUD Revolving credit borrowing | 46,589 | 51,915 | ||||
Other indebtedness | 6,710 | 7,196 | ||||
Total Debt | 451,089 | 696,711 | ||||
Less: current portion | -3,022 | -243,327 | ||||
Total Long-Term Debt | $ | 448,067 | $ | 453,384 | ||
The Company's other indebtedness at September 30, 2013 and December 31, 2012 is at interest rates from 0% to 6% and matures from 2013 to 2017. | ||||||
During the three months ended September 30, 2013 and 2012, the Company had average borrowings outstanding of approximately $449.8 million and $456.3 million, respectively, at average annual interest rates of approximately 7.0%. During the three months ended September 30, 2013 and 2012, the Company incurred net interest expense of $8.6 million and $8.1 million, respectively. | ||||||
During the nine months ended September 30, 2013 and 2012, the Company had average borrowings outstanding of approximately $477.5 million and $467.3 million, respectively, at average annual interest rates of approximately 7.0%. During the nine months ended September 30, 2013 and 2012, the Company incurred net interest expense of $25.6 million and $24.4 million, respectively. | ||||||
At September 30, 2013, the fair value of the Company's 7.25% unsecured notes, based on quoted market prices, totaled $475.1 million, compared with the carrying amount of $397.8 million. At December 31, 2012, the fair value of the Company's 7.25% unsecured notes, based on quoted market prices, totaled $481.4 million, compared with the carrying amount of $397.5 million. The carrying value of the Company's other unsecured debt at September 30, 2013 approximates fair value. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||
Fair Value Measurements [Text Block] | ' | |||||||||||
7. FAIR VALUE MEASUREMENTS | ||||||||||||
Fair value measurements are determined based on the assumptions that a market participant would use in pricing an asset or liability based on a three-tiered hierarchy that draws a distinction between market participant assumptions based on (i) observable inputs, such as quoted prices in active markets (Level 1); (ii) inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2); and (iii) unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value (Level 3). Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measure. The Company's assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. | ||||||||||||
The Company's financial assets and liabilities measured at fair value on a recurring basis were as follows: | ||||||||||||
(in thousands) | Level 1 | Level 2 | Total | |||||||||
As of September 30, 2013 | ||||||||||||
Assets | ||||||||||||
Money market investments (1) | $ | ― | $ | 296,914 | $ | 296,914 | ||||||
Marketable equity securities (3) | 457,969 | ― | 457,969 | |||||||||
Other current investments (4) | 16,413 | 23,281 | 39,694 | |||||||||
Total Financial Assets | $ | 474,382 | $ | 320,195 | $ | 794,577 | ||||||
Liabilities | ||||||||||||
Deferred compensation plan liabilities (5) | $ | ― | $ | 63,685 | $ | 63,685 | ||||||
7.25% unsecured notes (6) | ― | 475,144 | 475,144 | |||||||||
AUD revolving credit borrowing (6) | ― | 46,589 | 46,589 | |||||||||
Interest rate swap (7) | ― | 1,308 | 1,308 | |||||||||
Total Financial Liabilities | $ | ― | $ | 586,726 | $ | 586,726 | ||||||
As of December 31, 2012 | ||||||||||||
Assets | ||||||||||||
Money market investments (2) | $ | ― | $ | 432,670 | $ | 432,670 | ||||||
Marketable equity securities (3) | 380,087 | ― | 380,087 | |||||||||
Other current investments (4) | 14,134 | 24,717 | 38,851 | |||||||||
Total Financial Assets | $ | 394,221 | $ | 457,387 | $ | 851,608 | ||||||
Liabilities | ||||||||||||
Deferred compensation plan liabilities (5) | $ | ― | $ | 62,297 | $ | 62,297 | ||||||
7.25% unsecured notes (6) | ― | 481,424 | 481,424 | |||||||||
AUD revolving credit borrowing (6) | ― | 51,915 | 51,915 | |||||||||
Interest rate swap (7) | ― | 1,567 | 1,567 | |||||||||
Total Financial Liabilities | $ | ― | $ | 597,203 | $ | 597,203 | ||||||
____________ | ||||||||||||
(1) The Company's money market investments are included in cash and cash equivalents. | ||||||||||||
(2) The Company's money market investments are included in cash, cash equivalents and restricted cash. | ||||||||||||
(3) The Company's investments in marketable equity securities are classified as available-for-sale. | ||||||||||||
(4) Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year). | ||||||||||||
(5) Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits. | ||||||||||||
(6) See Note 6 for carrying amount of these notes and borrowing. | ||||||||||||
(7) Included in Other liabilities. The Company utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates. | ||||||||||||
For assets that are measured using quoted prices in active markets, the total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are primarily valued by reference to quoted prices of similar assets or liabilities in active markets, adjusted for any terms specific to that asset or liability. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||
Earnings Per Share [Text Block] | ' | ||||||||||||||
8. EARNINGS PER SHARE | |||||||||||||||
The Company's earnings per share from continuing operations (basic and diluted) are presented below: | |||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
(in thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Income from continuing operations attributable to The | |||||||||||||||
Washington Post Company common stockholders | $ | 56,016 | $ | 56,257 | $ | 134,253 | $ | 122,129 | |||||||
Less: Amount attributable to participating securities | -1,444 | -1,117 | -3,462 | -2,398 | |||||||||||
Basic income from continuing operations attributable to | |||||||||||||||
The Washington Post Company common stockholders | $ | 54,572 | $ | 55,140 | $ | 130,791 | $ | 119,731 | |||||||
Plus: Amount attributable to participating securities | 1,444 | 1,117 | 3,462 | 2,398 | |||||||||||
Diluted income from continuing operations attributable to | |||||||||||||||
The Washington Post Company common stockholders | $ | 56,016 | $ | 56,257 | $ | 134,253 | $ | 122,129 | |||||||
Basic weighted average shares outstanding | 7,231 | 7,272 | 7,229 | 7,405 | |||||||||||
Plus: Effect of dilutive shares | |||||||||||||||
Stock options | 15 | ― | 8 | ― | |||||||||||
Restricted stock | 91 | 104 | 79 | 103 | |||||||||||
Diluted weighted average shares outstanding | 7,337 | 7,376 | 7,316 | 7,508 | |||||||||||
Income Per Share from Continuing Operations Attributable | |||||||||||||||
to The Washington Post Company Common Stockholders: | |||||||||||||||
Basic | $ | 7.55 | $ | 7.58 | $ | 18.09 | $ | 16.17 | |||||||
Diluted | $ | 7.53 | $ | 7.58 | $ | 18.07 | $ | 16.17 | |||||||
For the three and nine months ended September 30, 2013 and 2012, the basic earnings per share computed under the two-class method is lower than the diluted earnings per share computed under the treasury stock method for participating securities, resulting in the presentation of the lower amount in diluted earnings per share. The diluted earnings per share amounts for the three and nine months ended September 30, 2013 exclude the effects of 13,000 and 63,000 stock options outstanding, respectively, as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2013 exclude the effects of 8,800 restricted stock awards, as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2012 exclude the effects of 123,494 and 111,994 stock options outstanding, respectively, as their inclusion would have been antidilutive. The diluted earnings per share amounts for the three and nine months ended September 30, 2012 exclude the effects of 51,500 restricted stock awards, as their inclusion would have been antidilutive. | |||||||||||||||
In the three and nine months ended September 30, 2012, the Company declared regular dividends totaling $2.45 and $9.80 per share, respectively. In December 2012, the Company declared and paid an accelerated cash dividend totaling $9.80 per share, in lieu of regular quarterly dividends that the Company otherwise would have declared and paid in calendar year 2013. |
Pension_and_Postretirement_Pla
Pension and Postretirement Plans | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Pension and Postretirement Plans [Abstract] | ' | ||||||||||||
Pension and Postretirement Plans [Text Block] | ' | ||||||||||||
9. PENSION AND POSTRETIREMENT PLANS | |||||||||||||
Defined Benefit Plans. The total cost arising from the Company's defined benefit pension plans, including a portion included in discontinued operations, consists of the following components: | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 12,713 | $ | 10,876 | $ | 38,788 | $ | 28,684 | |||||
Interest cost | 14,242 | 14,828 | 42,776 | 44,248 | |||||||||
Expected return on assets | -26,817 | -23,779 | -78,606 | -72,301 | |||||||||
Amortization of prior service cost | 908 | 919 | 2,726 | 2,775 | |||||||||
Recognized actuarial loss | 1,797 | 2,502 | 5,741 | 6,574 | |||||||||
Net Periodic Cost | 2,843 | 5,346 | 11,425 | 9,980 | |||||||||
Early retirement programs expense | ― | 7,486 | 22,700 | 8,508 | |||||||||
Total Cost | $ | 2,843 | $ | 12,832 | $ | 34,125 | $ | 18,488 | |||||
The total cost above includes $5.6 million and $42.2 million in costs associated with the Publishing Subsidiaries that are included in discontinued operations for the three and nine months ended September 30, 2013, respectively. For the three and nine months ended September 30, 2012, the costs associated with the Publishing Subsidiaries were $13.9 million and $26.3 million, respectively. | |||||||||||||
The Company announced a Voluntary Retirement Incentive Program in February 2013, which was offered to certain employees of the Washington Post newspaper. The total early retirement program expense for this program for the nine months ended September 30, 2013 was $20.4 million. Of this amount, $12.0 million was recorded in the first quarter of 2013 and $8.4 million was recorded in the second quarter of 2013. In addition, the Washington Post newspaper recorded $2.3 million in special separation benefits for a group of employees in the first quarter of 2013. The early retirement program expense and special separation benefits for these programs are being funded from the assets of the Company's pension plan and are included in discontinued operations, net of tax, in 2013. | |||||||||||||
In the third quarter of 2012, the Company offered a Voluntary Retirement Incentive Program to certain employees of The Washington Post newspaper and recorded early retirement program expense of $7.5 million. In the first quarter of 2012, the Company offered a Voluntary Retirement Incentive Program to certain employees of Post-Newsweek Media and recorded early retirement program expense of $1.0 million. The early retirement program expense for these programs was funded from the assets of the Company's pension plan and are included in discontinued operations, net of tax, in 2012. | |||||||||||||
The total cost arising from the Company's Supplemental Executive Retirement Plan (SERP), including a portion included in discontinued operations, consists of the following components: | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 429 | $ | 367 | $ | 1,288 | $ | 1,100 | |||||
Interest cost | 1,023 | 1,060 | 3,069 | 3,181 | |||||||||
Amortization of prior service cost | 14 | 14 | 41 | 41 | |||||||||
Recognized actuarial loss | 711 | 458 | 2,133 | 1,375 | |||||||||
Total Cost | $ | 2,177 | $ | 1,899 | $ | 6,531 | $ | 5,697 | |||||
The total cost above includes $0.2 million and $0.6 million in costs associated with the Publishing Subsidiaries that are included in discontinued operations for the three and nine months ended September 30, 2013, respectively. For the three and nine months ended September 30, 2012, the costs associated with the Publishing Subsidiaries were $0.2 million and $0.5 million, respectively. | |||||||||||||
Defined Benefit Plan Assets. The Company's defined benefit pension obligations are funded by a portfolio made up of a relatively small number of stocks and high-quality fixed-income securities that are held by a third-party trustee. The assets of the Company's pension plan were allocated as follows: | |||||||||||||
As of | |||||||||||||
September 30, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
U.S. equities | 60 | % | 64 | % | |||||||||
U.S. fixed income | 12 | % | 13 | % | |||||||||
International equities | 28 | % | 23 | % | |||||||||
100 | % | 100 | % | ||||||||||
Essentially all of the assets are actively managed by two investment companies. The goal of the investment managers is to produce moderate long-term growth in the value of these assets, while protecting them against large decreases in value. Both of these managers may invest in a combination of equity and fixed-income securities and cash. The managers are not permitted to invest in securities of the Company or in alternative investments. The investment managers cannot invest more than 20% of the assets at the time of purchase in the stock of Berkshire Hathaway or more than 10% of the assets in the securities of any other single issuer, except for obligations of the U.S. Government, without receiving prior approval by the Plan administrator. As of September 30, 2013, the managers can invest no more than 24% of the assets in international stocks at the time the investment is made, and no less than 10% of the assets could be invested in fixed-income securities. None of the assets is managed internally by the Company. | |||||||||||||
In determining the expected rate of return on plan assets, the Company considers the relative weighting of plan assets, the historical performance of total plan assets and individual asset classes and economic and other indicators of future performance. In addition, the Company may consult with and consider the input of financial and other professionals in developing appropriate return benchmarks. | |||||||||||||
The Company evaluated its defined benefit pension plan asset portfolio for the existence of significant concentrations (defined as greater than 10% of plan assets) of credit risk as of September 30, 2013. Types of concentrations that were evaluated include, but are not limited to, investment concentrations in a single entity, type of industry, foreign country and individual fund. At September 30, 2013 and December 31, 2012, the pension plan held common stock in one investment that exceeded 10% of total plan assets. This investment was valued at $389.3 million and $223.1 million at September 30, 2013 and December 31, 2012, respectively, or approximately 16% and 11%, respectively, of total plan assets. Assets also included $228.6 million and $179.9 million of Berkshire Hathaway common stock at September 30, 2013 and December 31, 2012, respectively. At September 30, 2013 and December 31, 2012, the pension plan held investments in one foreign country that exceeded 10% of total plan assets. These investments were valued at $406.4 million and $240.4 million at September 30, 2013 and December 31, 2012, respectively, or approximately 16% and 12%, respectively, of total plan assets. | |||||||||||||
Other Postretirement Plans. The total benefit arising from the Company's other postretirement plans, including a portion included in discontinued operations, consists of the following components: | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 728 | $ | 778 | $ | 2,183 | $ | 2,335 | |||||
Interest cost | 508 | 684 | 1,525 | 2,052 | |||||||||
Amortization of prior service credit | -1,306 | -1,402 | -3,972 | -4,206 | |||||||||
Recognized actuarial gain | -504 | -370 | -1,549 | -1,110 | |||||||||
Net Periodic Benefit | -574 | -310 | -1,813 | -929 | |||||||||
Settlement gain | ― | ― | -3,471 | ― | |||||||||
Total Periodic Benefit | $ | -574 | $ | -310 | $ | -5,284 | $ | -929 | |||||
The total benefit above includes $1.5 million and $2.8 million in benefits associated with the Publishing Subsidiaries that are included in discontinued operations for the three and nine months ended September 30, 2013, respectively. For the three and nine months ended September 30, 2012, the benefit associated with the Publishing Subsidiaries was $0.6 million and $1.8 million, respectively. | |||||||||||||
As part of the sale of The Herald, changes were made with respect to its postretirement medical plan, resulting in a $3.5 million settlement gain that is included in discontinued operations, net of tax, for the first quarter of 2013. | |||||||||||||
Disposition of Publishing Business. In connection with the October 1, 2013 sale of the Publishing Business, the liabilities under the Retirement Plan for The Washington Post Companies relating to the active employees of the Publishing Business will be transferred to the Purchaser, along with pension assets that have a value equal to the projected benefit obligation in respect of these active employees plus an additional $50 million. In the fourth quarter of 2013, the Company will recognize net curtailment and settlement gains (losses) related to this transfer as well as a remeasurement of each of the Company's pension and postretirement benefit plans. Additionally, the Company excluded the historical pension and postretirement benefits expense for retirees from the reclassification of the Publishing Subsidiaries' results to discontinued operations, since the associated assets and liabilities will be retained by the Company. |
Other_NonOperating_Income_Expe
Other Non-Operating Income (Expense) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Other Non-Operating Income (Expense) [Abstract] | ' | |||||||||||||
Other Non-Operating Income (Expense) [Text Block] | ' | |||||||||||||
10. OTHER NON-OPERATING INCOME (EXPENSE) | ||||||||||||||
A summary of non-operating income (expense) is as follows: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Foreign currency gain (loss), net | $ | 7,886 | $ | 3,111 | $ | -9,350 | $ | 3,179 | ||||||
(Loss) gain on sales of marketable equity securities | ― | -28 | 879 | 477 | ||||||||||
Gain (loss) on sales or write-downs of cost method investments, net | 18 | -112 | -160 | 6,760 | ||||||||||
Other, net | 206 | 1,192 | -200 | 1,700 | ||||||||||
Total Other Non-Operating Income (Expense) | $ | 8,110 | $ | 4,163 | $ | -8,831 | $ | 12,116 |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Text Block] | ' | |||||||||||||||||||
11. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||||||
The other comprehensive income (loss) consists of the following components: | ||||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Before-Tax | Income | After-Tax | Before-Tax | Income | After-Tax | |||||||||||||||
(in thousands) | Amount | Tax | Amount | Amount | Tax | Amount | ||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||
Translation adjustments arising during the period | $ | 5,639 | $ | ― | $ | 5,639 | $ | 5,321 | $ | ― | $ | 5,321 | ||||||||
Adjustment for sales of businesses with foreign operations | ― | ― | ― | -1,409 | ― | -1,409 | ||||||||||||||
5,639 | ― | 5,639 | 3,912 | ― | 3,912 | |||||||||||||||
Unrealized gains (losses) on available-for-sale securities: | ||||||||||||||||||||
Unrealized gains (losses) for the period | 938 | -375 | 563 | -5,966 | 2,387 | -3,579 | ||||||||||||||
938 | -375 | 563 | -5,966 | 2,387 | -3,579 | |||||||||||||||
Pension and other postretirement plans: | ||||||||||||||||||||
Amortization of net prior service credit included in net income | -384 | 154 | -230 | -469 | 187 | -282 | ||||||||||||||
Amortization of net actuarial loss included in net income | 2,004 | -801 | 1,203 | 2,592 | -1,036 | 1,556 | ||||||||||||||
1,620 | -647 | 973 | 2,123 | -849 | 1,274 | |||||||||||||||
Cash flow hedge: | ||||||||||||||||||||
Gain for the period | 15 | -6 | 9 | 217 | -87 | 130 | ||||||||||||||
Other Comprehensive Income | $ | 8,212 | $ | -1,028 | $ | 7,184 | $ | 286 | $ | 1,451 | $ | 1,737 | ||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Before-Tax | Income | After-Tax | Before-Tax | Income | After-Tax | |||||||||||||||
(in thousands) | Amount | Tax | Amount | Amount | Tax | Amount | ||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||
Translation adjustments arising during the period | $ | -2,061 | $ | ― | $ | -2,061 | $ | 4,233 | $ | ― | $ | 4,233 | ||||||||
Adjustment for sales of businesses with foreign operations | ― | ― | ― | -888 | ― | -888 | ||||||||||||||
-2,061 | ― | -2,061 | 3,345 | ― | 3,345 | |||||||||||||||
Unrealized gains on available-for-sale securities: | ||||||||||||||||||||
Unrealized gains for the period | 81,439 | -32,575 | 48,864 | 32,939 | -13,175 | 19,764 | ||||||||||||||
Reclassification adjustment for gain on available-for-sale | ||||||||||||||||||||
securities included in net income | -884 | 353 | -531 | -772 | 309 | -463 | ||||||||||||||
80,555 | -32,222 | 48,333 | 32,167 | -12,866 | 19,301 | |||||||||||||||
Pension and other postretirement plans: | ||||||||||||||||||||
Amortization of net prior service credit included in net income | -1,205 | 482 | -723 | -1,390 | 556 | -834 | ||||||||||||||
Amortization of net actuarial loss included in net income | 6,325 | -2,529 | 3,796 | 6,839 | -2,735 | 4,104 | ||||||||||||||
Settlement gain included in net income | -3,471 | 1,388 | -2,083 | ― | ― | ― | ||||||||||||||
1,649 | -659 | 990 | 5,449 | -2,179 | 3,270 | |||||||||||||||
Cash flow hedge: | ||||||||||||||||||||
Gain (loss) for the period | 259 | -104 | 155 | -1,160 | 465 | -695 | ||||||||||||||
Other Comprehensive Income | $ | 80,402 | $ | -32,985 | $ | 47,417 | $ | 39,801 | $ | -14,580 | $ | 25,221 | ||||||||
The accumulated balances related to each component of other comprehensive income (loss) are as follows: | ||||||||||||||||||||
Cumulative | Unrealized Gain | |||||||||||||||||||
Foreign | on Pensions | Accumulated | ||||||||||||||||||
Currency | Unrealized Gain | and Other | Other | |||||||||||||||||
Translation | on Available-for- | Postretirement | Cash Flow | Comprehensive | ||||||||||||||||
(in thousands, net of taxes) | Adjustment | Sale Securities | Plans | Hedge | Income | |||||||||||||||
Balance as of December 31, 2012 | $ | 26,072 | $ | 110,553 | $ | 117,169 | $ | -940 | $ | 252,854 | ||||||||||
Other comprehensive income (loss) before | ||||||||||||||||||||
reclassifications | -2,061 | 48,864 | ― | -198 | 46,605 | |||||||||||||||
Net amount reclassified from accumulated | ||||||||||||||||||||
other comprehensive income | ― | -531 | 990 | 353 | 812 | |||||||||||||||
Net other comprehensive income (loss) | -2,061 | 48,333 | 990 | 155 | 47,417 | |||||||||||||||
Balance as of September 30, 2013 | $ | 24,011 | $ | 158,886 | $ | 118,159 | $ | -785 | $ | 300,271 | ||||||||||
The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income are as follows: | ||||||||||||||||||||
Amount Reclassified from Accumulated Other Comprehensive Income | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | Affected Line Item in the | ||||||||||||||||||
September 30, | September 30, | Condensed Consolidated | ||||||||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | Statement of Operations | |||||||||||||||
Foreign Currency Translation Adjustments: | ||||||||||||||||||||
Adjustment for sales of businesses with foreign operations | $ | ― | $ | -1,409 | $ | ― | $ | -888 | (Loss) Income from Discontinued | |||||||||||
Operations, Net of Tax | ||||||||||||||||||||
Unrealized Gains on Available-for-sale Securities: | ||||||||||||||||||||
Realized gains for the period | ― | ― | -884 | -772 | Other income (expense), net | |||||||||||||||
― | ― | 353 | 309 | Provision for Income Taxes | ||||||||||||||||
― | ― | -531 | -463 | Net of Tax | ||||||||||||||||
Pension and Other Postretirement Plans: | ||||||||||||||||||||
Amortization of net prior service credit | -384 | -469 | -1,205 | -1,390 | -1 | |||||||||||||||
Amortization of net actuarial loss | 2,004 | 2,592 | 6,325 | 6,839 | -1 | |||||||||||||||
Settlement gain | ― | ― | -3,471 | ― | -1 | |||||||||||||||
1,620 | 2,123 | 1,649 | 5,449 | Before tax | ||||||||||||||||
-647 | -849 | -659 | -2,179 | Provision for Income Taxes | ||||||||||||||||
973 | 1,274 | 990 | 3,270 | Net of Tax | ||||||||||||||||
Cash Flow Hedge | ||||||||||||||||||||
205 | 132 | 588 | 167 | Interest expense | ||||||||||||||||
-82 | -53 | -235 | -67 | Provision for Income Taxes | ||||||||||||||||
123 | 79 | 353 | 100 | Net of Tax | ||||||||||||||||
Total reclassification for the period | $ | 1,096 | $ | -56 | $ | 812 | $ | 2,019 | Net of Tax | |||||||||||
____________ | ||||||||||||||||||||
(1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 9). |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Contingencies [Abstract] | ' |
Contingencies [Text Block] | ' |
12. CONTINGENCIES | |
Litigation and Legal Matters. The Company and its subsidiaries are involved in various legal proceedings that arise in the ordinary course of its business. Although the outcomes of the legal claims and proceedings against the Company cannot be predicted with certainty, based on currently available information, management believes that there are no existing claims or proceedings that are likely to have a material effect on the Company's business, financial condition, results of operations or cash flows. Also, based on currently available information, management is of the opinion that the exposure to future material losses from existing legal proceedings is not reasonably possible, or that future material losses in excess of the amounts accrued are not reasonably possible. | |
DOE Program Reviews. The U.S. Department of Education (DOE) undertakes program reviews at Title IV participating institutions. Currently, there are four open and/or pending program reviews (including Kaplan University and Broomall, PA.) The Company is awaiting the DOE's final report on the program review at KHE's Broomall, PA, location. In May 2012, the DOE issued a preliminary report on its 2009 onsite program review at Kaplan University containing several findings that required Kaplan University to conduct additional, detailed file reviews and submit additional data. In January 2013, Kaplan submitted a response to the DOE's data request and is awaiting a final report on this review. The Company does not expect the final program review reports to have a material impact on KHE; however, the results of these and the other open reviews and their impact on Kaplan's operations are uncertain. | |
The 90/10 Rule. Under regulations referred to as the 90/10 rule, a KHE OPEID unit would lose its eligibility to participate in Title IV programs for a period of at least two fiscal years if it derives more than 90% of its receipts from Title IV programs, as calculated on a cash basis in accordance with the Higher Education Act and applicable DOE regulations, in each of two consecutive fiscal years, commencing with the unit's first fiscal year that ends after August 14, 2008. Any OPEID unit with Title IV receipts exceeding 90% for a single fiscal year ending after August 14, 2008, will be placed on provisional certification and may be subject to other enforcement measures. KHE is taking various measures to reduce the percentage of its receipts attributable to Title IV funds, including modifying student payment options; emphasizing direct-pay and employer-paid education programs; encouraging students to carefully evaluate the amount of their Title IV borrowing; eliminating some programs; cash-matching; and developing and offering additional non-Title IV-eligible certificate preparation, professional development and continuing education programs. Some of the other programs may currently be offered by other Kaplan businesses. Based on currently available information, management does not believe that any of the Kaplan OPEID units will have a 90/10 ratio over 90% in 2013. Kaplan continues taking steps to address compliance with the 90/10 rule; however, there can be no guarantee that these measures will be adequate to prevent the 90/10 rule calculations at some or all of the schools from exceeding 90% in the future. | |
Accreditation. In March 2011, Kaplan University's institutional accreditor, the Higher Learning Commission of the North Central Association of Colleges and Schools (HLC), sent a request to Kaplan University asking for documents and a report detailing Kaplan University's admissions practices and describing Kaplan University's compliance with HLC Care Components and policies. Kaplan University complied with this request on April 29, 2011. Kaplan University provided additional information to the HLC in response to a follow-up request received on January 19, 2012. On June 19, 2013, the HLC notified Kaplan University of their intention to conduct a focused evaluation regarding these matters and that is expected to take place in early 2014. At this time the Company cannot predict how the HLC will follow-up or what impact their additional inquires may have on Kaplan University. |
Business_Segments
Business Segments | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Business Segments [Abstract] | ' | |||||||||||||
Business Segments [Text Block] | ' | |||||||||||||
13. BUSINESS SEGMENTS | ||||||||||||||
The Company has six reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International, cable television, television broadcasting and other businesses. | ||||||||||||||
Education. Kaplan's Colloquy business moved from Kaplan International to Kaplan Corporate effective January 1, 2013. Segment operating results of the education division have been restated to reflect this change. | ||||||||||||||
For the first nine months of 2012, Kaplan International results benefitted from a favorable $3.9 million out of period expense adjustment related to certain items recorded in 2011 and 2010. With respect to this out of period expense adjustment, the Company has concluded that it was not material to the Company's financial position or results of operations for 2012, 2011 and 2010 and the related interim periods, based on its consideration of quantitative and qualitative factors. | ||||||||||||||
Newspaper Publishing. Due to the sale of the Publishing Subsidiaries on October 1, 2013, the newspaper publishing segment is no longer included as a separate segment as its results have been reclassified to discontinued operations, net of tax, for all periods presented In March 2013, the Company completed the sale of The Herald, a daily and Sunday newspaper headquartered in Everett, WA. As a result, The Herald results are included in discontinued operations, net of tax, for all periods presented. | ||||||||||||||
Other Businesses. The Slate Group and the FP Group have been moved to Other Businesses since the newspaper publishing segment is no longer a separate segment. The results for these entities are included in Other Businesses for all periods presented. In August 2013, the Company acquired Forney, a global supplier of products and systems that control and monitor combustion processes in electric utility and industrial applications, which is also included in Other Businesses. | ||||||||||||||
The following table summarizes the 2013 quarterly financial information related to each of the Company's business segments: | ||||||||||||||
March 31, | June 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2013 | 2013 | |||||||||||
Operating Revenues | ||||||||||||||
Education | $ | 527,815 | $ | 548,230 | $ | 546,452 | ||||||||
Cable television | 200,138 | 204,550 | 202,381 | |||||||||||
Television broadcasting | 85,270 | 99,320 | 87,063 | |||||||||||
Other businesses | 23,814 | 37,572 | 66,632 | |||||||||||
Corporate office | ― | ― | ― | |||||||||||
Intersegment elimination | -197 | -76 | -49 | |||||||||||
$ | 836,840 | $ | 889,596 | $ | 902,479 | |||||||||
Income (Loss) From Operations | ||||||||||||||
Education | $ | -4,056 | $ | 23,726 | $ | 17,035 | ||||||||
Cable television | 36,613 | 44,710 | 39,715 | |||||||||||
Television broadcasting | 35,362 | 47,704 | 36,304 | |||||||||||
Other businesses | -8,542 | -5,968 | -5,046 | |||||||||||
Corporate office | -5,979 | -5,402 | -6,135 | |||||||||||
$ | 53,398 | $ | 104,770 | $ | 81,873 | |||||||||
Equity in Earnings of Affiliates, Net | 3,418 | 3,868 | 5,892 | |||||||||||
Interest Expense, Net | -8,450 | -8,526 | -8,579 | |||||||||||
Other Income (Expense), Net | -4,083 | -12,858 | 8,110 | |||||||||||
Income from Continuing Operations Before Income Taxes | $ | 44,283 | $ | 87,254 | $ | 87,296 | ||||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Education | $ | 22,588 | $ | 20,064 | $ | 18,978 | ||||||||
Cable television | 33,733 | 33,964 | 32,946 | |||||||||||
Television broadcasting | 3,145 | 3,151 | 3,109 | |||||||||||
Other businesses | 429 | 577 | 555 | |||||||||||
Corporate office | ― | 60 | 45 | |||||||||||
$ | 59,895 | $ | 57,816 | $ | 55,633 | |||||||||
Amortization of Intangible Assets | ||||||||||||||
Education | $ | 2,518 | $ | 2,363 | $ | 2,287 | ||||||||
Cable television | 50 | 57 | 61 | |||||||||||
Television broadcasting | ― | ― | ― | |||||||||||
Other businesses | 1,149 | 893 | 489 | |||||||||||
Corporate office | ― | ― | ― | |||||||||||
$ | 3,717 | $ | 3,313 | $ | 2,837 | |||||||||
Net Pension (Credit) Expense | ||||||||||||||
Education | $ | 4,106 | $ | 4,231 | $ | 4,169 | ||||||||
Cable television | 882 | 913 | 973 | |||||||||||
Television broadcasting | 1,288 | 1,213 | 1,251 | |||||||||||
Other businesses | 116 | 134 | 173 | |||||||||||
Corporate office | -9,121 | -9,129 | -9,299 | |||||||||||
$ | -2,729 | $ | -2,638 | $ | -2,733 | |||||||||
The following table summarizes the 2012 quarterly financial information related to each of the Company's business segments: | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
(in thousands) | 2012 | 2012 | 2012 | 2012 | ||||||||||
Operating Revenues | ||||||||||||||
Education | $ | 546,685 | $ | 551,774 | $ | 551,696 | $ | 546,341 | ||||||
Cable television | 190,210 | 195,579 | 199,625 | 201,703 | ||||||||||
Television broadcasting | 81,497 | 95,591 | 106,411 | 116,192 | ||||||||||
Other businesses | 9,329 | 11,666 | 20,187 | 31,655 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
Intersegment elimination | -109 | -180 | -282 | ― | ||||||||||
$ | 827,612 | $ | 854,430 | $ | 877,637 | $ | 895,891 | |||||||
Income (Loss) From Operations | ||||||||||||||
Education | $ | -11,915 | $ | 3,728 | $ | 14,693 | $ | -111,874 | ||||||
Cable television | 32,777 | 38,446 | 39,913 | 43,445 | ||||||||||
Television broadcasting | 30,999 | 43,728 | 54,082 | 62,833 | ||||||||||
Other businesses | -6,746 | -9,005 | -7,324 | -9,935 | ||||||||||
Corporate office | -7,454 | -5,689 | -8,128 | -7,394 | ||||||||||
$ | 37,661 | $ | 71,208 | $ | 93,236 | $ | -22,925 | |||||||
Equity in Earnings of Affiliates, Net | 3,888 | 3,314 | 4,099 | 2,785 | ||||||||||
Interest Expense, Net | -8,094 | -8,204 | -8,090 | -8,163 | ||||||||||
Other Income (Expense), Net | 8,588 | -635 | 4,163 | -17,572 | ||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | $ | 42,043 | $ | 65,683 | $ | 93,408 | $ | -45,875 | ||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Education | $ | 20,717 | $ | 21,011 | $ | 22,024 | $ | 37,431 | ||||||
Cable television | 32,197 | 32,234 | 32,310 | 32,366 | ||||||||||
Television broadcasting | 3,125 | 3,222 | 3,126 | 3,545 | ||||||||||
Other businesses | 126 | 127 | 128 | 389 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
$ | 56,165 | $ | 56,594 | $ | 57,588 | $ | 73,731 | |||||||
Amortization of Intangible Assets and | ||||||||||||||
Impairment of Goodwill and Other Long-Lived Assets | ||||||||||||||
Education | $ | 3,236 | $ | 3,803 | $ | 4,489 | $ | 117,784 | ||||||
Cable television | 54 | 53 | 52 | 52 | ||||||||||
Television broadcasting | ― | ― | ― | ― | ||||||||||
Other businesses | 549 | 551 | 549 | 1,367 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
$ | 3,839 | $ | 4,407 | $ | 5,090 | $ | 119,203 | |||||||
Net Pension (Credit) Expense | ||||||||||||||
Education | $ | 2,392 | $ | 1,969 | $ | 3,522 | $ | 3,701 | ||||||
Cable television | 530 | 514 | 694 | 802 | ||||||||||
Television broadcasting | 960 | 1,055 | 1,432 | 1,523 | ||||||||||
Other businesses | 36 | 33 | 45 | 55 | ||||||||||
Corporate office | -7,393 | -6,939 | -6,827 | -6,712 | ||||||||||
$ | -3,475 | $ | -3,368 | $ | -1,134 | $ | -631 | |||||||
The following table summarizes financial information related to each of the Company's business segments: | ||||||||||||||
Nine Months Ended | Fiscal Year Ended | |||||||||||||
September 30, | December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2012 | 2011 | ||||||||||
Operating Revenues | ||||||||||||||
Education | $ | 1,622,497 | $ | 1,650,155 | $ | 2,196,496 | $ | 2,404,459 | ||||||
Cable television | 607,069 | 585,414 | 787,117 | 760,221 | ||||||||||
Television broadcasting | 271,653 | 283,499 | 399,691 | 319,206 | ||||||||||
Other businesses | 128,018 | 41,182 | 72,837 | 42,891 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
Intersegment elimination | -322 | -571 | -571 | -780 | ||||||||||
$ | 2,628,915 | $ | 2,559,679 | $ | 3,455,570 | $ | 3,525,997 | |||||||
Income (Loss) from Operations | ||||||||||||||
Education | $ | 36,705 | $ | 6,506 | $ | -105,368 | $ | 96,286 | ||||||
Cable television | 121,038 | 111,136 | 154,581 | 156,844 | ||||||||||
Television broadcasting | 119,370 | 128,809 | 191,642 | 117,089 | ||||||||||
Other businesses | -19,556 | -23,075 | -33,010 | -16,771 | ||||||||||
Corporate office | -17,516 | -21,271 | -28,665 | -19,330 | ||||||||||
$ | 240,041 | $ | 202,105 | $ | 179,180 | $ | 334,118 | |||||||
Equity in Earnings of Affiliates, Net | 13,178 | 11,301 | 14,086 | 5,949 | ||||||||||
Interest Expense, Net | -25,555 | -24,388 | -32,551 | -29,079 | ||||||||||
Other (Expense) Income, Net | -8,831 | 12,116 | -5,456 | -55,200 | ||||||||||
Income from Continuing Operations Before Income Taxes | $ | 218,833 | $ | 201,134 | $ | 155,259 | $ | 255,788 | ||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Education | $ | 61,630 | $ | 63,752 | $ | 101,183 | $ | 83,735 | ||||||
Cable television | 100,643 | 96,741 | 129,107 | 126,302 | ||||||||||
Television broadcasting | 9,405 | 9,473 | 13,018 | 12,448 | ||||||||||
Other businesses | 1,561 | 381 | 770 | 674 | ||||||||||
Corporate office | 105 | ― | ― | 244 | ||||||||||
$ | 173,344 | $ | 170,347 | $ | 244,078 | $ | 223,403 | |||||||
Amortization of Intangible Assets and | ||||||||||||||
Impairment of Goodwill and Other Intangible Assets | ||||||||||||||
Education | $ | 7,168 | $ | 11,528 | $ | 129,312 | $ | 19,417 | ||||||
Cable television | 168 | 159 | 211 | 267 | ||||||||||
Television broadcasting | ― | ― | ― | ― | ||||||||||
Other businesses | 2,531 | 1,649 | 3,016 | 2,517 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
$ | 9,867 | $ | 13,336 | $ | 132,539 | $ | 22,201 | |||||||
Net Pension (Credit) Expense | ||||||||||||||
Education | $ | 12,506 | $ | 7,883 | $ | 11,584 | $ | 6,345 | ||||||
Cable television | 2,768 | 1,738 | 2,540 | 1,924 | ||||||||||
Television broadcasting | 3,752 | 3,447 | 4,970 | 1,669 | ||||||||||
Other businesses | 423 | 114 | 169 | 132 | ||||||||||
Corporate office | -27,549 | -21,159 | -27,871 | -33,289 | ||||||||||
$ | -8,100 | $ | -7,977 | $ | -8,608 | $ | -23,219 | |||||||
Asset information for the Company's business segments are as follows: | ||||||||||||||
As of | ||||||||||||||
September 30, | December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | ||||||||||||
Identifiable Assets | ||||||||||||||
Education | $ | 1,739,301 | $ | 1,988,015 | ||||||||||
Cable television | 1,189,084 | 1,187,603 | ||||||||||||
Television broadcasting | 371,726 | 374,075 | ||||||||||||
Other businesses | 137,068 | 88,393 | ||||||||||||
Corporate office | 383,471 | 466,538 | ||||||||||||
$ | 3,820,650 | $ | 4,104,624 | |||||||||||
Investments in Marketable Equity Securities | 457,969 | 380,087 | ||||||||||||
Investments in Affiliates | 32,997 | 15,535 | ||||||||||||
Prepaid Pension Cost | 529,165 | 604,823 | ||||||||||||
Assets of Discontinued Operations | 255,100 | ― | ||||||||||||
Total Assets | $ | 5,095,881 | $ | 5,105,069 | ||||||||||
The Company's education division comprises the following operating segments: | ||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Operating Revenues | ||||||||||||||
Higher education | $ | 266,061 | $ | 273,703 | $ | 811,013 | $ | 872,948 | ||||||
Test preparation | 77,431 | 81,151 | 232,064 | 223,767 | ||||||||||
Kaplan international | 201,305 | 194,158 | 574,086 | 546,862 | ||||||||||
Kaplan corporate and other | 2,223 | 3,809 | 6,496 | 10,283 | ||||||||||
Intersegment elimination | -568 | -1,125 | -1,162 | -3,705 | ||||||||||
$ | 546,452 | $ | 551,696 | $ | 1,622,497 | $ | 1,650,155 | |||||||
Income (Loss) from Operations | ||||||||||||||
Higher education | $ | 14,719 | $ | 1,510 | $ | 42,354 | $ | 16,329 | ||||||
Test preparation | 3,820 | 3,446 | 7,306 | -4,067 | ||||||||||
Kaplan international | 12,020 | 20,365 | 24,907 | 34,293 | ||||||||||
Kaplan corporate and other | -13,680 | -10,852 | -38,243 | -40,628 | ||||||||||
Intersegment elimination | 156 | 224 | 381 | 579 | ||||||||||
$ | 17,035 | $ | 14,693 | $ | 36,705 | $ | 6,506 | |||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Higher education | $ | 9,739 | $ | 12,168 | $ | 33,919 | $ | 35,598 | ||||||
Test preparation | 5,034 | 5,544 | 14,658 | 14,308 | ||||||||||
Kaplan international | 3,903 | 3,841 | 12,015 | 12,490 | ||||||||||
Kaplan corporate and other | 302 | 471 | 1,038 | 1,356 | ||||||||||
$ | 18,978 | $ | 22,024 | $ | 61,630 | $ | 63,752 | |||||||
Amortization of Intangible Assets | $ | 2,287 | $ | 4,489 | $ | 7,168 | $ | 11,528 | ||||||
Pension Expense | ||||||||||||||
Higher education | $ | 3,201 | $ | 2,234 | $ | 8,815 | $ | 5,408 | ||||||
Test preparation | 731 | 554 | 2,012 | 1,381 | ||||||||||
Kaplan international | 99 | 112 | 273 | 113 | ||||||||||
Kaplan corporate and other | 138 | 622 | 1,406 | 981 | ||||||||||
$ | 4,169 | $ | 3,522 | $ | 12,506 | $ | 7,883 | |||||||
Identifiable assets for the Company's education division consist of the following: | ||||||||||||||
As of | ||||||||||||||
September 30, | December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | ||||||||||||
Identifiable assets | ||||||||||||||
Higher education | $ | 643,342 | $ | 949,260 | ||||||||||
Test preparation | 182,450 | 197,672 | ||||||||||||
Kaplan international | 878,123 | 818,613 | ||||||||||||
Kaplan corporate and other | 35,386 | 22,470 | ||||||||||||
$ | 1,739,301 | $ | 1,988,015 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation (Policy) | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Basis Of Presentation And Recent Accounting Pronouncements [Abstract] | ' |
Financial Periods | ' |
Financial Periods – The Company and its subsidiaries report on a calendar-quarter basis. | |
Basis of Presentation | ' |
Basis of Presentation – The accompanying condensed consolidated financial statements have been prepared in accordance with: (i) generally accepted accounting principles in the United States of America (GAAP) for interim financial information; (ii) the instructions to Form 10-Q; and (iii) the guidance of Rule 10-01 of Regulation S-X under the Securities and Exchange Act of 1934, as amended, for financial statements required to be filed with the Securities and Exchange Commission (SEC). They include the assets, liabilities, results of operations and cash flows of the Company, including its domestic and foreign subsidiaries that are more than 50% owned or otherwise controlled by the Company. As permitted under such rules, certain notes and other financial information normally required by GAAP have been condensed or omitted. Management believes the accompanying condensed consolidated financial statements reflect all normal and recurring adjustments necessary for a fair presentation of the Company's financial position, results of operations, and cash flows as of and for the periods presented herein. The Company's results of operations for the three and nine months ended September 30, 2013 and 2012 may not be indicative of the Company's future results. These condensed consolidated financial statements are unaudited and should be read in conjunction with the Company's audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012. | |
The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. | |
Certain amounts in previously issued financial statements have been reclassified to conform to the current year presentation, which includes the reclassification of the results of operations of certain businesses as discontinued operations for all periods presented. | |
Use of Estimates in the Preparation of the Condensed Financial Statements | ' |
Use of Estimates in the Preparation of the Condensed Consolidated Financial Statements – The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and judgments that affect the amounts reported herein. Management bases its estimates and assumptions on historical experience and on various other factors that are believed to be reasonable under the circumstances. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in those estimates. | |
Assets Held for Sale | ' |
Assets Held for Sale – An asset or business is classified as held for sale when (i) management commits to a plan to sell the asset or business; (ii) the asset or business is available for immediate sale in its present condition; (iii) the asset or business is actively marketed for sale at a reasonable price; (iv) the sale is expected to be completed within one year; and (v) it is unlikely significant changes to the plan will be made or that the plan will be withdrawn. The assets and related liabilities are aggregated and reported separately in the Company's condensed consolidated balance sheet. | |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Discontinued Operations [Abstract] | ' | ||||||||||||||
Carrying Amounts of Assets and Liabilities Included in Discontinued Operations and Summarized Income (Loss) from Discontinued Operations, Net Of Tax [Table Text Block] | ' | ||||||||||||||
September 30, | |||||||||||||||
(in thousands) | 2013 | ||||||||||||||
Cash and cash equivalents | $ | 849 | |||||||||||||
Accounts receivable, net | 60,369 | ||||||||||||||
Inventories | 3,965 | ||||||||||||||
Other current assets | 5,177 | ||||||||||||||
Current Assets of Discontinued Operations | $ | 70,360 | |||||||||||||
Property, plant and equipment, net | $ | 116,639 | |||||||||||||
Goodwill, net | 13,602 | ||||||||||||||
Prepaid pension cost | 50,000 | ||||||||||||||
Deferred charges and other assets | 4,499 | ||||||||||||||
Noncurrent Assets of Discontinued Operations | $ | 184,740 | |||||||||||||
Accounts payable and accrued liabilities | $ | 35,616 | |||||||||||||
Deferred revenue | 22,207 | ||||||||||||||
Current Liabilities of Discontinued Operations | $ | 57,823 | |||||||||||||
Postretirement benefits other than pensions | $ | 24,999 | |||||||||||||
Accrued compensation and related benefits | 8,998 | ||||||||||||||
Other liabilities | 11,735 | ||||||||||||||
Noncurrent Liabilities of Discontinued Operations | $ | 45,732 | |||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Operating revenues | $ | 124,725 | $ | 137,668 | $ | 382,705 | $ | 441,308 | |||||||
Operating costs and expenses | -165,380 | -155,701 | -467,434 | -491,698 | |||||||||||
Loss from discontinued operations | -40,655 | -18,033 | -84,729 | -50,390 | |||||||||||
Benefit from income taxes | -14,783 | -5,568 | -30,059 | -16,568 | |||||||||||
Net Loss from Discontinued Operations | -25,872 | -12,465 | -54,670 | -33,822 | |||||||||||
(Loss) gain on sales of discontinued operations | ― | -2,174 | -70 | 23,759 | |||||||||||
Benefit from income taxes on sales of discontinued operations | ― | -52,178 | -24 | -64,591 | |||||||||||
(Loss) Income from Discontinued Operations, Net of Tax | $ | -25,872 | $ | 37,539 | $ | -54,716 | $ | 54,528 | |||||||
2013 Quarterly Operating Results After Reclassifying Certain Operations As Discontinued Operations [Table Text Block] | ' | ||||||||||||||
March 31, | June 30, | ||||||||||||||
(in thousands, except per share amounts) | 2013 | 2013 | |||||||||||||
Operating Revenues | |||||||||||||||
Education | $ | 527,815 | $ | 548,230 | |||||||||||
Advertising | 82,994 | 96,670 | |||||||||||||
Subscriber and circulation | 186,790 | 192,273 | |||||||||||||
Other | 39,241 | 52,423 | |||||||||||||
836,840 | 889,596 | ||||||||||||||
Operating Costs and Expenses | |||||||||||||||
Operating | 381,965 | 400,515 | |||||||||||||
Selling, general and administrative | 337,865 | 323,182 | |||||||||||||
Depreciation of property, plant and equipment | 59,895 | 57,816 | |||||||||||||
Amortization of intangible assets | 3,717 | 3,313 | |||||||||||||
783,442 | 784,826 | ||||||||||||||
Income from Operations | 53,398 | 104,770 | |||||||||||||
Equity in earnings of affiliates, net | 3,418 | 3,868 | |||||||||||||
Interest income | 510 | 522 | |||||||||||||
Interest expense | -8,960 | -9,048 | |||||||||||||
Other expense, net | -4,083 | -12,858 | |||||||||||||
Income from Continuing Operations before Income Taxes | 44,283 | 87,254 | |||||||||||||
Provision for Income Taxes | 17,800 | 34,500 | |||||||||||||
Income from Continuing Operations | 26,483 | 52,754 | |||||||||||||
Loss from Discontinued Operations, Net of Tax | -21,224 | -7,620 | |||||||||||||
Net Income | 5,259 | 45,134 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -97 | -253 | |||||||||||||
Net Income Attributable to The Washington Post Company | 5,162 | 44,881 | |||||||||||||
Redeemable Preferred Stock Dividends | -444 | -206 | |||||||||||||
Net Income Attributable to The Washington Post Company Common Stockholders | $ | 4,718 | $ | 44,675 | |||||||||||
Amounts Attributable to The Washington Post Company Common Stockholders | |||||||||||||||
Income from continuing operations | $ | 25,942 | $ | 52,295 | |||||||||||
Loss from discontinued operations, net of tax | -21,224 | -7,620 | |||||||||||||
Net income attributable to the Washington Post Company common stockholders | $ | 4,718 | $ | 44,675 | |||||||||||
Per Share Information Attributable to The Washington Post Company Common Stockholders | |||||||||||||||
Basic income per common share from continuing operations | $ | 3.5 | $ | 7.05 | |||||||||||
Basic loss per common share from discontinued operations | -2.86 | -1.03 | |||||||||||||
Basic net income per common share | $ | 0.64 | $ | 6.02 | |||||||||||
Diluted income per common share from continuing operations | $ | 3.5 | $ | 7.05 | |||||||||||
Diluted loss per common share from discontinued operations | -2.86 | -1.03 | |||||||||||||
Diluted net income per common share | $ | 0.64 | $ | 6.02 | |||||||||||
2012 Quarterly Operating Results After Reclassifying Certain Operations As Discontinued Operations [Table Text Block] | ' | ||||||||||||||
March 31, | June 30, | September 30, | December 31, | ||||||||||||
(in thousands, except per share amounts) | 2012 | 2012 | 2012 | 2012 | |||||||||||
Operating Revenues | |||||||||||||||
Education | $ | 546,685 | $ | 551,774 | $ | 551,696 | $ | 546,341 | |||||||
Advertising | 82,600 | 94,649 | 105,855 | 117,696 | |||||||||||
Subscriber and circulation | 178,022 | 182,639 | 185,326 | 186,383 | |||||||||||
Other | 20,305 | 25,368 | 34,760 | 45,471 | |||||||||||
827,612 | 854,430 | 877,637 | 895,891 | ||||||||||||
Operating Costs and Expenses | |||||||||||||||
Operating | 382,106 | 387,167 | 407,364 | 389,620 | |||||||||||
Selling, general and administrative | 347,841 | 335,054 | 314,359 | 336,262 | |||||||||||
Depreciation of property, plant and equipment | 56,165 | 56,594 | 57,588 | 73,731 | |||||||||||
Amortization of intangible assets | 3,839 | 4,407 | 5,090 | 7,610 | |||||||||||
Impairment of goodwill and other long-lived assets | ― | ― | ― | 111,593 | |||||||||||
789,951 | 783,222 | 784,401 | 918,816 | ||||||||||||
Income (Loss) from Operations | 37,661 | 71,208 | 93,236 | -22,925 | |||||||||||
Equity in earnings of affiliates, net | 3,888 | 3,314 | 4,099 | 2,785 | |||||||||||
Interest income | 1,069 | 775 | 648 | 901 | |||||||||||
Interest expense | -9,163 | -8,979 | -8,738 | -9,064 | |||||||||||
Other income (expense), net | 8,588 | -635 | 4,163 | -17,572 | |||||||||||
Income (Loss) from Continuing Operations before Income Taxes | 42,043 | 65,683 | 93,408 | -45,875 | |||||||||||
Provision for Income Taxes | 17,200 | 23,900 | 37,000 | 5,100 | |||||||||||
Income (Loss) from Continuing Operations | 24,843 | 41,783 | 56,408 | -50,975 | |||||||||||
Income from Discontinued Operations, Net of Tax | 6,725 | 10,264 | 37,539 | 5,600 | |||||||||||
Net Income (Loss) | 31,568 | 52,047 | 93,947 | -45,375 | |||||||||||
Net (Income) Loss Attributable to Noncontrolling Interests | -70 | -11 | 71 | -64 | |||||||||||
Net Income (Loss) Attributable to The Washington Post Company | 31,498 | 52,036 | 94,018 | -45,439 | |||||||||||
Redeemable Preferred Stock Dividends | -451 | -222 | -222 | ― | |||||||||||
Net Income (Loss) Attributable to The Washington Post Company | |||||||||||||||
Common Stockholders | $ | 31,047 | $ | 51,814 | $ | 93,796 | $ | -45,439 | |||||||
Amounts Attributable to The Washington Post Company | |||||||||||||||
Common Stockholders | |||||||||||||||
Income (loss) from continuing operations | $ | 24,322 | $ | 41,550 | $ | 56,257 | $ | -51,039 | |||||||
Income from discontinued operations, net of tax | 6,725 | 10,264 | 37,539 | 5,600 | |||||||||||
Net income (loss) attributable to the Washington Post | |||||||||||||||
Company common stockholders | $ | 31,047 | $ | 51,814 | $ | 93,796 | $ | -45,439 | |||||||
Per Share Information Attributable to The Washington Post | |||||||||||||||
Company Common Stockholders | |||||||||||||||
Basic income (loss) per common share from continuing operations | $ | 3.17 | $ | 5.48 | $ | 7.58 | $ | -7.35 | |||||||
Basic income per common share from discontinued operations | 0.9 | 1.36 | 5.06 | 0.78 | |||||||||||
Basic net income (loss) per common share | $ | 4.07 | $ | 6.84 | $ | 12.64 | $ | -6.57 | |||||||
Diluted income (loss) per common share from continuing operations | $ | 3.17 | $ | 5.48 | $ | 7.58 | $ | -7.35 | |||||||
Diluted income per common share from discontinued operations | 0.9 | 1.36 | 5.06 | 0.78 | |||||||||||
Diluted net income (loss) per common share | $ | 4.07 | $ | 6.84 | $ | 12.64 | $ | -6.57 | |||||||
Yearly Operating Results After Reclassifying Certain Operations As Discontinued Operations [Table Text Block] | ' | ||||||||||||||
(in thousands, except per share amounts) | 2012 | 2011 | |||||||||||||
Operating Revenues | |||||||||||||||
Education | $ | 2,196,496 | $ | 2,404,459 | |||||||||||
Advertising | 400,800 | 327,877 | |||||||||||||
Subscriber and circulation | 732,370 | 710,253 | |||||||||||||
Other | 125,904 | 83,408 | |||||||||||||
3,455,570 | 3,525,997 | ||||||||||||||
Operating Costs and Expenses | |||||||||||||||
Operating | 1,566,257 | 1,562,615 | |||||||||||||
Selling, general and administrative | 1,333,516 | 1,383,660 | |||||||||||||
Depreciation of property, plant and equipment | 244,078 | 223,403 | |||||||||||||
Amortization of intangible assets | 20,946 | 22,201 | |||||||||||||
Impairment of goodwill and other long-lived assets | 111,593 | ― | |||||||||||||
3,276,390 | 3,191,879 | ||||||||||||||
Income from Operations | 179,180 | 334,118 | |||||||||||||
Equity in earnings of affiliates, net | 14,086 | 5,949 | |||||||||||||
Interest income | 3,393 | 4,147 | |||||||||||||
Interest expense | -35,944 | -33,226 | |||||||||||||
Other expense, net | -5,456 | -55,200 | |||||||||||||
Income from Continuing Operations Before Income Taxes | 155,259 | 255,788 | |||||||||||||
Provision for Income Taxes | 83,200 | 104,400 | |||||||||||||
Income from Continuing Operations | 72,059 | 151,388 | |||||||||||||
Income (Loss) from Discontinued Operations, Net of Tax | 60,128 | -34,231 | |||||||||||||
Net Income | 132,187 | 117,157 | |||||||||||||
Net Income Attributable to Noncontrolling Interests | -74 | -7 | |||||||||||||
Net Income Attributable to The Washington Post Company | 132,113 | 117,150 | |||||||||||||
Redeemable Preferred Stock Dividends | -895 | -917 | |||||||||||||
Net Income Attributable to The Washington Post Company Common Stockholders | $ | 131,218 | $ | 116,233 | |||||||||||
Amounts Attributable to The Washington Post Company Common Stockholders | |||||||||||||||
Income from continuing operations | $ | 71,090 | $ | 150,464 | |||||||||||
Income (loss) from discontinued operations, net of tax | 60,128 | -34,231 | |||||||||||||
Net income attributable to the Washington Post Company common stockholders | $ | 131,218 | $ | 116,233 | |||||||||||
Per Share Information Attributable to The Washington Post Company Common | |||||||||||||||
Stockholders | |||||||||||||||
Basic income per common share from continuing operations | $ | 9.22 | $ | 19.03 | |||||||||||
Basic income (loss) per common share from discontinued operations | 8.17 | -4.33 | |||||||||||||
Basic net income per common share | $ | 17.39 | $ | 14.7 | |||||||||||
Diluted income per common share from continuing operations | $ | 9.22 | $ | 19.03 | |||||||||||
Diluted income (loss) per common share from discontinued operations | 8.17 | -4.33 | |||||||||||||
Diluted net income per common share | $ | 17.39 | $ | 14.7 |
Investments_Tables
Investments (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Investments [Abstract] | ' | ||||||
Investments in Marketable Equity Securities [Table Text Block] | ' | ||||||
As of | |||||||
September 30, | December 31, | ||||||
(in thousands) | 2013 | 2012 | |||||
Total cost | $ | 193,159 | $ | 195,832 | |||
Net unrealized gains | 264,810 | 184,255 | |||||
Total Fair Value | $ | 457,969 | $ | 380,087 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Changes in Carrying Amount of Goodwill [Table Text Block] | ' | ||||||||||||||||||||
Cable | Newspaper | Television | Other | ||||||||||||||||||
(in thousands) | Education | Television | Publishing | Broadcasting | Businesses | Total | |||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||
Goodwill | $ | 1,097,058 | $ | 85,488 | $ | 81,183 | $ | 203,165 | $ | 19,052 | $ | 1,485,946 | |||||||||
Accumulated impairment losses | -102,259 | ― | -65,772 | ― | ― | -168,031 | |||||||||||||||
994,799 | 85,488 | 15,411 | 203,165 | 19,052 | 1,317,915 | ||||||||||||||||
Reallocation, net | ― | ― | -1,809 | ― | 1,809 | ― | |||||||||||||||
Acquisitions | ― | ― | ― | ― | 7,924 | 7,924 | |||||||||||||||
Reclassification to discontinued operations | ― | ― | -13,602 | ― | ― | -13,602 | |||||||||||||||
Foreign currency exchange rate changes | -18,755 | ― | ― | ― | ― | -18,755 | |||||||||||||||
Balance as of September 30, 2013 | |||||||||||||||||||||
Goodwill | 1,078,303 | 85,488 | ― | 203,165 | 34,867 | 1,401,823 | |||||||||||||||
Accumulated impairment losses | -102,259 | ― | ― | ― | -6,082 | -108,341 | |||||||||||||||
$ | 976,044 | $ | 85,488 | $ | ― | $ | 203,165 | $ | 28,785 | $ | 1,293,482 | ||||||||||
Other Intangible Assets [Table Text Block] | ' | ||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||
Gross | Net | Gross | Net | ||||||||||||||||||
Useful Life | Carrying | Accumulated | Carrying | Carrying | Accumulated | Carrying | |||||||||||||||
(in thousands) | Range | Amount | Amortization | Amount | Amount | Amortization | Amount | ||||||||||||||
Amortized Intangible Assets | |||||||||||||||||||||
Non-compete agreements | 2-5 years | $ | 14,054 | $ | 13,038 | $ | 1,016 | $ | 14,008 | $ | 12,546 | $ | 1,462 | ||||||||
Student and customer relationships | 2-10 years | 70,918 | 42,141 | 28,777 | 73,693 | 40,787 | 32,906 | ||||||||||||||
Databases and technology | 3-5 years | 10,539 | 6,457 | 4,082 | 6,457 | 5,707 | 750 | ||||||||||||||
Trade names and trademarks | 2-10 years | 26,100 | 19,124 | 6,976 | 26,634 | 18,185 | 8,449 | ||||||||||||||
Other | 1-25 years | 9,828 | 7,137 | 2,691 | 8,849 | 6,839 | 2,010 | ||||||||||||||
$ | 131,439 | $ | 87,897 | $ | 43,542 | $ | 129,641 | $ | 84,064 | $ | 45,577 | ||||||||||
Indefinite-Lived Intangible Assets | |||||||||||||||||||||
Franchise agreements | $ | 496,321 | $ | 496,321 | |||||||||||||||||
Wireless licenses | 22,150 | 22,150 | |||||||||||||||||||
Licensure and accreditation | 7,371 | 7,371 | |||||||||||||||||||
Other | 15,636 | 13,886 | |||||||||||||||||||
$ | 541,478 | $ | 539,728 | ||||||||||||||||||
Education [Member] | ' | ||||||||||||||||||||
Changes in Carrying Amount of Goodwill [Table Text Block] | ' | ||||||||||||||||||||
Higher | Test | Kaplan | |||||||||||||||||||
(in thousands) | Education | Preparation | International | Total | |||||||||||||||||
Balance as of December 31, 2012 | |||||||||||||||||||||
Goodwill | $ | 409,184 | $ | 152,187 | $ | 535,687 | $ | 1,097,058 | |||||||||||||
Accumulated impairment losses | ― | -102,259 | ― | -102,259 | |||||||||||||||||
409,184 | 49,928 | 535,687 | 994,799 | ||||||||||||||||||
Foreign currency exchange rate changes | -79 | ― | -18,676 | -18,755 | |||||||||||||||||
Balance as of September 30, 2013 | |||||||||||||||||||||
Goodwill | 409,105 | 152,187 | 517,011 | 1,078,303 | |||||||||||||||||
Accumulated impairment losses | ― | -102,259 | ― | -102,259 | |||||||||||||||||
$ | 409,105 | $ | 49,928 | $ | 517,011 | $ | 976,044 |
Debt_Tables
Debt (Tables) | 9 Months Ended | |||||
Sep. 30, 2013 | ||||||
Debt [Abstract] | ' | |||||
Components of Debt [Table Text Block] | ' | |||||
As of | ||||||
September 30, | December 31, | |||||
(in thousands) | 2013 | 2012 | ||||
7.25% unsecured notes due February 1, 2019 | $ | 397,790 | $ | 397,479 | ||
USD Revolving credit borrowing | ― | 240,121 | ||||
AUD Revolving credit borrowing | 46,589 | 51,915 | ||||
Other indebtedness | 6,710 | 7,196 | ||||
Total Debt | 451,089 | 696,711 | ||||
Less: current portion | -3,022 | -243,327 | ||||
Total Long-Term Debt | $ | 448,067 | $ | 453,384 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||
Summary of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | |||||||||||
(in thousands) | Level 1 | Level 2 | Total | |||||||||
As of September 30, 2013 | ||||||||||||
Assets | ||||||||||||
Money market investments (1) | $ | ― | $ | 296,914 | $ | 296,914 | ||||||
Marketable equity securities (3) | 457,969 | ― | 457,969 | |||||||||
Other current investments (4) | 16,413 | 23,281 | 39,694 | |||||||||
Total Financial Assets | $ | 474,382 | $ | 320,195 | $ | 794,577 | ||||||
Liabilities | ||||||||||||
Deferred compensation plan liabilities (5) | $ | ― | $ | 63,685 | $ | 63,685 | ||||||
7.25% unsecured notes (6) | ― | 475,144 | 475,144 | |||||||||
AUD revolving credit borrowing (6) | ― | 46,589 | 46,589 | |||||||||
Interest rate swap (7) | ― | 1,308 | 1,308 | |||||||||
Total Financial Liabilities | $ | ― | $ | 586,726 | $ | 586,726 | ||||||
As of December 31, 2012 | ||||||||||||
Assets | ||||||||||||
Money market investments (2) | $ | ― | $ | 432,670 | $ | 432,670 | ||||||
Marketable equity securities (3) | 380,087 | ― | 380,087 | |||||||||
Other current investments (4) | 14,134 | 24,717 | 38,851 | |||||||||
Total Financial Assets | $ | 394,221 | $ | 457,387 | $ | 851,608 | ||||||
Liabilities | ||||||||||||
Deferred compensation plan liabilities (5) | $ | ― | $ | 62,297 | $ | 62,297 | ||||||
7.25% unsecured notes (6) | ― | 481,424 | 481,424 | |||||||||
AUD revolving credit borrowing (6) | ― | 51,915 | 51,915 | |||||||||
Interest rate swap (7) | ― | 1,567 | 1,567 | |||||||||
Total Financial Liabilities | $ | ― | $ | 597,203 | $ | 597,203 | ||||||
____________ | ||||||||||||
(1) The Company's money market investments are included in cash and cash equivalents. | ||||||||||||
(2) The Company's money market investments are included in cash, cash equivalents and restricted cash. | ||||||||||||
(3) The Company's investments in marketable equity securities are classified as available-for-sale. | ||||||||||||
(4) Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year). | ||||||||||||
(5) Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits. | ||||||||||||
(6) See Note 6 for carrying amount of these notes and borrowing. | ||||||||||||
(7) Included in Other liabilities. The Company utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||
Summary of Earnings Per Share from Continuing Operations, Basic and Diluted [Table Text Block] | ' | ||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||
September 30, | September 30, | ||||||||||||||
(in thousands, except per share amounts) | 2013 | 2012 | 2013 | 2012 | |||||||||||
Income from continuing operations attributable to The | |||||||||||||||
Washington Post Company common stockholders | $ | 56,016 | $ | 56,257 | $ | 134,253 | $ | 122,129 | |||||||
Less: Amount attributable to participating securities | -1,444 | -1,117 | -3,462 | -2,398 | |||||||||||
Basic income from continuing operations attributable to | |||||||||||||||
The Washington Post Company common stockholders | $ | 54,572 | $ | 55,140 | $ | 130,791 | $ | 119,731 | |||||||
Plus: Amount attributable to participating securities | 1,444 | 1,117 | 3,462 | 2,398 | |||||||||||
Diluted income from continuing operations attributable to | |||||||||||||||
The Washington Post Company common stockholders | $ | 56,016 | $ | 56,257 | $ | 134,253 | $ | 122,129 | |||||||
Basic weighted average shares outstanding | 7,231 | 7,272 | 7,229 | 7,405 | |||||||||||
Plus: Effect of dilutive shares | |||||||||||||||
Stock options | 15 | ― | 8 | ― | |||||||||||
Restricted stock | 91 | 104 | 79 | 103 | |||||||||||
Diluted weighted average shares outstanding | 7,337 | 7,376 | 7,316 | 7,508 | |||||||||||
Income Per Share from Continuing Operations Attributable | |||||||||||||||
to The Washington Post Company Common Stockholders: | |||||||||||||||
Basic | $ | 7.55 | $ | 7.58 | $ | 18.09 | $ | 16.17 | |||||||
Diluted | $ | 7.53 | $ | 7.58 | $ | 18.07 | $ | 16.17 |
Pension_and_Postretirement_Pla1
Pension and Postretirement Plans (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Pension Plan [Member] | ' | ||||||||||||
Summary of Net (Benefit) Costs [Table Text Block] | ' | ||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 12,713 | $ | 10,876 | $ | 38,788 | $ | 28,684 | |||||
Interest cost | 14,242 | 14,828 | 42,776 | 44,248 | |||||||||
Expected return on assets | -26,817 | -23,779 | -78,606 | -72,301 | |||||||||
Amortization of prior service cost | 908 | 919 | 2,726 | 2,775 | |||||||||
Recognized actuarial loss | 1,797 | 2,502 | 5,741 | 6,574 | |||||||||
Net Periodic Cost | 2,843 | 5,346 | 11,425 | 9,980 | |||||||||
Early retirement programs expense | ― | 7,486 | 22,700 | 8,508 | |||||||||
Total Cost | $ | 2,843 | $ | 12,832 | $ | 34,125 | $ | 18,488 | |||||
Allocation of the Assets of the Company's Pension Plans [Table Text Block] | ' | ||||||||||||
As of | |||||||||||||
September 30, | December 31, | ||||||||||||
2013 | 2012 | ||||||||||||
U.S. equities | 60 | % | 64 | % | |||||||||
U.S. fixed income | 12 | % | 13 | % | |||||||||
International equities | 28 | % | 23 | % | |||||||||
100 | % | 100 | % | ||||||||||
Supplemental Executive Retirement Plan (SERP) [Member] | ' | ||||||||||||
Summary of Net (Benefit) Costs [Table Text Block] | ' | ||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 429 | $ | 367 | $ | 1,288 | $ | 1,100 | |||||
Interest cost | 1,023 | 1,060 | 3,069 | 3,181 | |||||||||
Amortization of prior service cost | 14 | 14 | 41 | 41 | |||||||||
Recognized actuarial loss | 711 | 458 | 2,133 | 1,375 | |||||||||
Total Cost | $ | 2,177 | $ | 1,899 | $ | 6,531 | $ | 5,697 | |||||
Other Postretirement Plans [Member] | ' | ||||||||||||
Summary of Net (Benefit) Costs [Table Text Block] | ' | ||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||
September 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Service cost | $ | 728 | $ | 778 | $ | 2,183 | $ | 2,335 | |||||
Interest cost | 508 | 684 | 1,525 | 2,052 | |||||||||
Amortization of prior service credit | -1,306 | -1,402 | -3,972 | -4,206 | |||||||||
Recognized actuarial gain | -504 | -370 | -1,549 | -1,110 | |||||||||
Net Periodic Benefit | -574 | -310 | -1,813 | -929 | |||||||||
Settlement gain | ― | ― | -3,471 | ― | |||||||||
Total Periodic Benefit | $ | -574 | $ | -310 | $ | -5,284 | $ | -929 |
Other_NonOperating_Income_Expe1
Other Non-Operating Income (Expense) (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Other Non-Operating Income (Expense) [Abstract] | ' | |||||||||||||
Summary of Other Non-Operating Income (Expense) [Table Text Block] | ' | |||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | September 30, | September 30, | |||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Foreign currency gain (loss), net | $ | 7,886 | $ | 3,111 | $ | -9,350 | $ | 3,179 | ||||||
(Loss) gain on sales of marketable equity securities | ― | -28 | 879 | 477 | ||||||||||
Gain (loss) on sales or write-downs of cost method investments, net | 18 | -112 | -160 | 6,760 | ||||||||||
Other, net | 206 | 1,192 | -200 | 1,700 | ||||||||||
Total Other Non-Operating Income (Expense) | $ | 8,110 | $ | 4,163 | $ | -8,831 | $ | 12,116 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||||||||
Summary of Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||
Three Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Before-Tax | Income | After-Tax | Before-Tax | Income | After-Tax | |||||||||||||||
(in thousands) | Amount | Tax | Amount | Amount | Tax | Amount | ||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||
Translation adjustments arising during the period | $ | 5,639 | $ | ― | $ | 5,639 | $ | 5,321 | $ | ― | $ | 5,321 | ||||||||
Adjustment for sales of businesses with foreign operations | ― | ― | ― | -1,409 | ― | -1,409 | ||||||||||||||
5,639 | ― | 5,639 | 3,912 | ― | 3,912 | |||||||||||||||
Unrealized gains (losses) on available-for-sale securities: | ||||||||||||||||||||
Unrealized gains (losses) for the period | 938 | -375 | 563 | -5,966 | 2,387 | -3,579 | ||||||||||||||
938 | -375 | 563 | -5,966 | 2,387 | -3,579 | |||||||||||||||
Pension and other postretirement plans: | ||||||||||||||||||||
Amortization of net prior service credit included in net income | -384 | 154 | -230 | -469 | 187 | -282 | ||||||||||||||
Amortization of net actuarial loss included in net income | 2,004 | -801 | 1,203 | 2,592 | -1,036 | 1,556 | ||||||||||||||
1,620 | -647 | 973 | 2,123 | -849 | 1,274 | |||||||||||||||
Cash flow hedge: | ||||||||||||||||||||
Gain for the period | 15 | -6 | 9 | 217 | -87 | 130 | ||||||||||||||
Other Comprehensive Income | $ | 8,212 | $ | -1,028 | $ | 7,184 | $ | 286 | $ | 1,451 | $ | 1,737 | ||||||||
Nine Months Ended September 30, | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Before-Tax | Income | After-Tax | Before-Tax | Income | After-Tax | |||||||||||||||
(in thousands) | Amount | Tax | Amount | Amount | Tax | Amount | ||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||
Translation adjustments arising during the period | $ | -2,061 | $ | ― | $ | -2,061 | $ | 4,233 | $ | ― | $ | 4,233 | ||||||||
Adjustment for sales of businesses with foreign operations | ― | ― | ― | -888 | ― | -888 | ||||||||||||||
-2,061 | ― | -2,061 | 3,345 | ― | 3,345 | |||||||||||||||
Unrealized gains on available-for-sale securities: | ||||||||||||||||||||
Unrealized gains for the period | 81,439 | -32,575 | 48,864 | 32,939 | -13,175 | 19,764 | ||||||||||||||
Reclassification adjustment for gain on available-for-sale | ||||||||||||||||||||
securities included in net income | -884 | 353 | -531 | -772 | 309 | -463 | ||||||||||||||
80,555 | -32,222 | 48,333 | 32,167 | -12,866 | 19,301 | |||||||||||||||
Pension and other postretirement plans: | ||||||||||||||||||||
Amortization of net prior service credit included in net income | -1,205 | 482 | -723 | -1,390 | 556 | -834 | ||||||||||||||
Amortization of net actuarial loss included in net income | 6,325 | -2,529 | 3,796 | 6,839 | -2,735 | 4,104 | ||||||||||||||
Settlement gain included in net income | -3,471 | 1,388 | -2,083 | ― | ― | ― | ||||||||||||||
1,649 | -659 | 990 | 5,449 | -2,179 | 3,270 | |||||||||||||||
Cash flow hedge: | ||||||||||||||||||||
Gain (loss) for the period | 259 | -104 | 155 | -1,160 | 465 | -695 | ||||||||||||||
Other Comprehensive Income | $ | 80,402 | $ | -32,985 | $ | 47,417 | $ | 39,801 | $ | -14,580 | $ | 25,221 | ||||||||
Summary of Changes in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||
Cumulative | Unrealized Gain | |||||||||||||||||||
Foreign | on Pensions | Accumulated | ||||||||||||||||||
Currency | Unrealized Gain | and Other | Other | |||||||||||||||||
Translation | on Available-for- | Postretirement | Cash Flow | Comprehensive | ||||||||||||||||
(in thousands, net of taxes) | Adjustment | Sale Securities | Plans | Hedge | Income | |||||||||||||||
Balance as of December 31, 2012 | $ | 26,072 | $ | 110,553 | $ | 117,169 | $ | -940 | $ | 252,854 | ||||||||||
Other comprehensive income (loss) before | ||||||||||||||||||||
reclassifications | -2,061 | 48,864 | ― | -198 | 46,605 | |||||||||||||||
Net amount reclassified from accumulated | ||||||||||||||||||||
other comprehensive income | ― | -531 | 990 | 353 | 812 | |||||||||||||||
Net other comprehensive income (loss) | -2,061 | 48,333 | 990 | 155 | 47,417 | |||||||||||||||
Balance as of September 30, 2013 | $ | 24,011 | $ | 158,886 | $ | 118,159 | $ | -785 | $ | 300,271 | ||||||||||
Summary of Amounts and Line Items of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | ' | |||||||||||||||||||
Amount Reclassified from Accumulated Other Comprehensive Income | ||||||||||||||||||||
Three Months Ended | Nine Months Ended | Affected Line Item in the | ||||||||||||||||||
September 30, | September 30, | Condensed Consolidated | ||||||||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | Statement of Operations | |||||||||||||||
Foreign Currency Translation Adjustments: | ||||||||||||||||||||
Adjustment for sales of businesses with foreign operations | $ | ― | $ | -1,409 | $ | ― | $ | -888 | (Loss) Income from Discontinued | |||||||||||
Operations, Net of Tax | ||||||||||||||||||||
Unrealized Gains on Available-for-sale Securities: | ||||||||||||||||||||
Realized gains for the period | ― | ― | -884 | -772 | Other income (expense), net | |||||||||||||||
― | ― | 353 | 309 | Provision for Income Taxes | ||||||||||||||||
― | ― | -531 | -463 | Net of Tax | ||||||||||||||||
Pension and Other Postretirement Plans: | ||||||||||||||||||||
Amortization of net prior service credit | -384 | -469 | -1,205 | -1,390 | -1 | |||||||||||||||
Amortization of net actuarial loss | 2,004 | 2,592 | 6,325 | 6,839 | -1 | |||||||||||||||
Settlement gain | ― | ― | -3,471 | ― | -1 | |||||||||||||||
1,620 | 2,123 | 1,649 | 5,449 | Before tax | ||||||||||||||||
-647 | -849 | -659 | -2,179 | Provision for Income Taxes | ||||||||||||||||
973 | 1,274 | 990 | 3,270 | Net of Tax | ||||||||||||||||
Cash Flow Hedge | ||||||||||||||||||||
205 | 132 | 588 | 167 | Interest expense | ||||||||||||||||
-82 | -53 | -235 | -67 | Provision for Income Taxes | ||||||||||||||||
123 | 79 | 353 | 100 | Net of Tax | ||||||||||||||||
Total reclassification for the period | $ | 1,096 | $ | -56 | $ | 812 | $ | 2,019 | Net of Tax | |||||||||||
____________ | ||||||||||||||||||||
(1) These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 9). |
Business_Segments_Tables
Business Segments (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Segment Reporting Information [Line Items] | ' | |||||||||||||
Summary of Segment Reporting Information, by Operating Segment [Table Text Block] | ' | |||||||||||||
March 31, | June 30, | September 30, | ||||||||||||
(in thousands) | 2013 | 2013 | 2013 | |||||||||||
Operating Revenues | ||||||||||||||
Education | $ | 527,815 | $ | 548,230 | $ | 546,452 | ||||||||
Cable television | 200,138 | 204,550 | 202,381 | |||||||||||
Television broadcasting | 85,270 | 99,320 | 87,063 | |||||||||||
Other businesses | 23,814 | 37,572 | 66,632 | |||||||||||
Corporate office | ― | ― | ― | |||||||||||
Intersegment elimination | -197 | -76 | -49 | |||||||||||
$ | 836,840 | $ | 889,596 | $ | 902,479 | |||||||||
Income (Loss) From Operations | ||||||||||||||
Education | $ | -4,056 | $ | 23,726 | $ | 17,035 | ||||||||
Cable television | 36,613 | 44,710 | 39,715 | |||||||||||
Television broadcasting | 35,362 | 47,704 | 36,304 | |||||||||||
Other businesses | -8,542 | -5,968 | -5,046 | |||||||||||
Corporate office | -5,979 | -5,402 | -6,135 | |||||||||||
$ | 53,398 | $ | 104,770 | $ | 81,873 | |||||||||
Equity in Earnings of Affiliates, Net | 3,418 | 3,868 | 5,892 | |||||||||||
Interest Expense, Net | -8,450 | -8,526 | -8,579 | |||||||||||
Other Income (Expense), Net | -4,083 | -12,858 | 8,110 | |||||||||||
Income from Continuing Operations Before Income Taxes | $ | 44,283 | $ | 87,254 | $ | 87,296 | ||||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Education | $ | 22,588 | $ | 20,064 | $ | 18,978 | ||||||||
Cable television | 33,733 | 33,964 | 32,946 | |||||||||||
Television broadcasting | 3,145 | 3,151 | 3,109 | |||||||||||
Other businesses | 429 | 577 | 555 | |||||||||||
Corporate office | ― | 60 | 45 | |||||||||||
$ | 59,895 | $ | 57,816 | $ | 55,633 | |||||||||
Amortization of Intangible Assets | ||||||||||||||
Education | $ | 2,518 | $ | 2,363 | $ | 2,287 | ||||||||
Cable television | 50 | 57 | 61 | |||||||||||
Television broadcasting | ― | ― | ― | |||||||||||
Other businesses | 1,149 | 893 | 489 | |||||||||||
Corporate office | ― | ― | ― | |||||||||||
$ | 3,717 | $ | 3,313 | $ | 2,837 | |||||||||
Net Pension (Credit) Expense | ||||||||||||||
Education | $ | 4,106 | $ | 4,231 | $ | 4,169 | ||||||||
Cable television | 882 | 913 | 973 | |||||||||||
Television broadcasting | 1,288 | 1,213 | 1,251 | |||||||||||
Other businesses | 116 | 134 | 173 | |||||||||||
Corporate office | -9,121 | -9,129 | -9,299 | |||||||||||
$ | -2,729 | $ | -2,638 | $ | -2,733 | |||||||||
March 31, | June 30, | September 30, | December 31, | |||||||||||
(in thousands) | 2012 | 2012 | 2012 | 2012 | ||||||||||
Operating Revenues | ||||||||||||||
Education | $ | 546,685 | $ | 551,774 | $ | 551,696 | $ | 546,341 | ||||||
Cable television | 190,210 | 195,579 | 199,625 | 201,703 | ||||||||||
Television broadcasting | 81,497 | 95,591 | 106,411 | 116,192 | ||||||||||
Other businesses | 9,329 | 11,666 | 20,187 | 31,655 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
Intersegment elimination | -109 | -180 | -282 | ― | ||||||||||
$ | 827,612 | $ | 854,430 | $ | 877,637 | $ | 895,891 | |||||||
Income (Loss) From Operations | ||||||||||||||
Education | $ | -11,915 | $ | 3,728 | $ | 14,693 | $ | -111,874 | ||||||
Cable television | 32,777 | 38,446 | 39,913 | 43,445 | ||||||||||
Television broadcasting | 30,999 | 43,728 | 54,082 | 62,833 | ||||||||||
Other businesses | -6,746 | -9,005 | -7,324 | -9,935 | ||||||||||
Corporate office | -7,454 | -5,689 | -8,128 | -7,394 | ||||||||||
$ | 37,661 | $ | 71,208 | $ | 93,236 | $ | -22,925 | |||||||
Equity in Earnings of Affiliates, Net | 3,888 | 3,314 | 4,099 | 2,785 | ||||||||||
Interest Expense, Net | -8,094 | -8,204 | -8,090 | -8,163 | ||||||||||
Other Income (Expense), Net | 8,588 | -635 | 4,163 | -17,572 | ||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | $ | 42,043 | $ | 65,683 | $ | 93,408 | $ | -45,875 | ||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Education | $ | 20,717 | $ | 21,011 | $ | 22,024 | $ | 37,431 | ||||||
Cable television | 32,197 | 32,234 | 32,310 | 32,366 | ||||||||||
Television broadcasting | 3,125 | 3,222 | 3,126 | 3,545 | ||||||||||
Other businesses | 126 | 127 | 128 | 389 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
$ | 56,165 | $ | 56,594 | $ | 57,588 | $ | 73,731 | |||||||
Amortization of Intangible Assets and | ||||||||||||||
Impairment of Goodwill and Other Long-Lived Assets | ||||||||||||||
Education | $ | 3,236 | $ | 3,803 | $ | 4,489 | $ | 117,784 | ||||||
Cable television | 54 | 53 | 52 | 52 | ||||||||||
Television broadcasting | ― | ― | ― | ― | ||||||||||
Other businesses | 549 | 551 | 549 | 1,367 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
$ | 3,839 | $ | 4,407 | $ | 5,090 | $ | 119,203 | |||||||
Net Pension (Credit) Expense | ||||||||||||||
Education | $ | 2,392 | $ | 1,969 | $ | 3,522 | $ | 3,701 | ||||||
Cable television | 530 | 514 | 694 | 802 | ||||||||||
Television broadcasting | 960 | 1,055 | 1,432 | 1,523 | ||||||||||
Other businesses | 36 | 33 | 45 | 55 | ||||||||||
Corporate office | -7,393 | -6,939 | -6,827 | -6,712 | ||||||||||
$ | -3,475 | $ | -3,368 | $ | -1,134 | $ | -631 | |||||||
Nine Months Ended | Fiscal Year Ended | |||||||||||||
September 30, | December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | 2012 | 2011 | ||||||||||
Operating Revenues | ||||||||||||||
Education | $ | 1,622,497 | $ | 1,650,155 | $ | 2,196,496 | $ | 2,404,459 | ||||||
Cable television | 607,069 | 585,414 | 787,117 | 760,221 | ||||||||||
Television broadcasting | 271,653 | 283,499 | 399,691 | 319,206 | ||||||||||
Other businesses | 128,018 | 41,182 | 72,837 | 42,891 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
Intersegment elimination | -322 | -571 | -571 | -780 | ||||||||||
$ | 2,628,915 | $ | 2,559,679 | $ | 3,455,570 | $ | 3,525,997 | |||||||
Income (Loss) from Operations | ||||||||||||||
Education | $ | 36,705 | $ | 6,506 | $ | -105,368 | $ | 96,286 | ||||||
Cable television | 121,038 | 111,136 | 154,581 | 156,844 | ||||||||||
Television broadcasting | 119,370 | 128,809 | 191,642 | 117,089 | ||||||||||
Other businesses | -19,556 | -23,075 | -33,010 | -16,771 | ||||||||||
Corporate office | -17,516 | -21,271 | -28,665 | -19,330 | ||||||||||
$ | 240,041 | $ | 202,105 | $ | 179,180 | $ | 334,118 | |||||||
Equity in Earnings of Affiliates, Net | 13,178 | 11,301 | 14,086 | 5,949 | ||||||||||
Interest Expense, Net | -25,555 | -24,388 | -32,551 | -29,079 | ||||||||||
Other (Expense) Income, Net | -8,831 | 12,116 | -5,456 | -55,200 | ||||||||||
Income from Continuing Operations Before Income Taxes | $ | 218,833 | $ | 201,134 | $ | 155,259 | $ | 255,788 | ||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Education | $ | 61,630 | $ | 63,752 | $ | 101,183 | $ | 83,735 | ||||||
Cable television | 100,643 | 96,741 | 129,107 | 126,302 | ||||||||||
Television broadcasting | 9,405 | 9,473 | 13,018 | 12,448 | ||||||||||
Other businesses | 1,561 | 381 | 770 | 674 | ||||||||||
Corporate office | 105 | ― | ― | 244 | ||||||||||
$ | 173,344 | $ | 170,347 | $ | 244,078 | $ | 223,403 | |||||||
Amortization of Intangible Assets and | ||||||||||||||
Impairment of Goodwill and Other Intangible Assets | ||||||||||||||
Education | $ | 7,168 | $ | 11,528 | $ | 129,312 | $ | 19,417 | ||||||
Cable television | 168 | 159 | 211 | 267 | ||||||||||
Television broadcasting | ― | ― | ― | ― | ||||||||||
Other businesses | 2,531 | 1,649 | 3,016 | 2,517 | ||||||||||
Corporate office | ― | ― | ― | ― | ||||||||||
$ | 9,867 | $ | 13,336 | $ | 132,539 | $ | 22,201 | |||||||
Net Pension (Credit) Expense | ||||||||||||||
Education | $ | 12,506 | $ | 7,883 | $ | 11,584 | $ | 6,345 | ||||||
Cable television | 2,768 | 1,738 | 2,540 | 1,924 | ||||||||||
Television broadcasting | 3,752 | 3,447 | 4,970 | 1,669 | ||||||||||
Other businesses | 423 | 114 | 169 | 132 | ||||||||||
Corporate office | -27,549 | -21,159 | -27,871 | -33,289 | ||||||||||
$ | -8,100 | $ | -7,977 | $ | -8,608 | $ | -23,219 | |||||||
As of | ||||||||||||||
September 30, | December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | ||||||||||||
Identifiable Assets | ||||||||||||||
Education | $ | 1,739,301 | $ | 1,988,015 | ||||||||||
Cable television | 1,189,084 | 1,187,603 | ||||||||||||
Television broadcasting | 371,726 | 374,075 | ||||||||||||
Other businesses | 137,068 | 88,393 | ||||||||||||
Corporate office | 383,471 | 466,538 | ||||||||||||
$ | 3,820,650 | $ | 4,104,624 | |||||||||||
Investments in Marketable Equity Securities | 457,969 | 380,087 | ||||||||||||
Investments in Affiliates | 32,997 | 15,535 | ||||||||||||
Prepaid Pension Cost | 529,165 | 604,823 | ||||||||||||
Assets of Discontinued Operations | 255,100 | ― | ||||||||||||
Total Assets | $ | 5,095,881 | $ | 5,105,069 | ||||||||||
Education [Member] | ' | |||||||||||||
Segment Reporting Information [Line Items] | ' | |||||||||||||
Summary of Segment Reporting Information, by Operating Segment [Table Text Block] | ' | |||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||
September 30, | September 30, | |||||||||||||
(in thousands) | 2013 | 2012 | 2013 | 2012 | ||||||||||
Operating Revenues | ||||||||||||||
Higher education | $ | 266,061 | $ | 273,703 | $ | 811,013 | $ | 872,948 | ||||||
Test preparation | 77,431 | 81,151 | 232,064 | 223,767 | ||||||||||
Kaplan international | 201,305 | 194,158 | 574,086 | 546,862 | ||||||||||
Kaplan corporate and other | 2,223 | 3,809 | 6,496 | 10,283 | ||||||||||
Intersegment elimination | -568 | -1,125 | -1,162 | -3,705 | ||||||||||
$ | 546,452 | $ | 551,696 | $ | 1,622,497 | $ | 1,650,155 | |||||||
Income (Loss) from Operations | ||||||||||||||
Higher education | $ | 14,719 | $ | 1,510 | $ | 42,354 | $ | 16,329 | ||||||
Test preparation | 3,820 | 3,446 | 7,306 | -4,067 | ||||||||||
Kaplan international | 12,020 | 20,365 | 24,907 | 34,293 | ||||||||||
Kaplan corporate and other | -13,680 | -10,852 | -38,243 | -40,628 | ||||||||||
Intersegment elimination | 156 | 224 | 381 | 579 | ||||||||||
$ | 17,035 | $ | 14,693 | $ | 36,705 | $ | 6,506 | |||||||
Depreciation of Property, Plant and Equipment | ||||||||||||||
Higher education | $ | 9,739 | $ | 12,168 | $ | 33,919 | $ | 35,598 | ||||||
Test preparation | 5,034 | 5,544 | 14,658 | 14,308 | ||||||||||
Kaplan international | 3,903 | 3,841 | 12,015 | 12,490 | ||||||||||
Kaplan corporate and other | 302 | 471 | 1,038 | 1,356 | ||||||||||
$ | 18,978 | $ | 22,024 | $ | 61,630 | $ | 63,752 | |||||||
Amortization of Intangible Assets | $ | 2,287 | $ | 4,489 | $ | 7,168 | $ | 11,528 | ||||||
Pension Expense | ||||||||||||||
Higher education | $ | 3,201 | $ | 2,234 | $ | 8,815 | $ | 5,408 | ||||||
Test preparation | 731 | 554 | 2,012 | 1,381 | ||||||||||
Kaplan international | 99 | 112 | 273 | 113 | ||||||||||
Kaplan corporate and other | 138 | 622 | 1,406 | 981 | ||||||||||
$ | 4,169 | $ | 3,522 | $ | 12,506 | $ | 7,883 | |||||||
As of | ||||||||||||||
September 30, | December 31, | |||||||||||||
(in thousands) | 2013 | 2012 | ||||||||||||
Identifiable assets | ||||||||||||||
Higher education | $ | 643,342 | $ | 949,260 | ||||||||||
Test preparation | 182,450 | 197,672 | ||||||||||||
Kaplan international | 878,123 | 818,613 | ||||||||||||
Kaplan corporate and other | 35,386 | 22,470 | ||||||||||||
$ | 1,739,301 | $ | 1,988,015 |
Organization_Basis_of_Presenta1
Organization, Basis of Presentation and Recent Accounting Pronouncements (Narrative) (Details) | Sep. 30, 2013 |
Percentage of ownership indicating control for consolidation purposes | 'more than 50% |
Television Broadcasting [Member] | ' |
Number of television broadcast stations | 6 |
Discontinued_Operations_Narrat
Discontinued Operations (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Feb. 29, 2012 | Sep. 30, 2012 | Mar. 31, 2012 | Aug. 31, 2012 | Jul. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 01, 2013 | |
Sale of Kaplan Learning Technologies [Member] | Sale of Kaplan EduNeering [Member] | Sales of Kaplan EduNeering and Kaplan Learning Technologies [Member] | Sale of Kidum [Member] | Disposition of Avenue 100 Media Solutions Inc. [Member] | Disposition of Avenue 100 Media Solutions Inc. [Member] | Sale of Publishing Subsidiaries [Member] | Sale of Publishing Subsidiaries [Member] | Sale of Publishing Subsidiaries [Member] | Sale of Publishing Subsidiaries [Member] | Sale of Publishing Subsidiaries [Member] | |||||
Education [Member] | Education [Member] | Education [Member] | Education [Member] | Other Businesses [Member] | Other Businesses [Member] | Subsequent Event [Member] | |||||||||
Purchase Agreement aggregate purchase price for divestiture of business | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $250,000,000 |
Number of days following closing to change corporate name | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 days |
Additional amount to be transferred to Purchaser related to pension | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 |
Expenses in discontinued operations | 165,380,000 | 155,701,000 | 467,434,000 | 491,698,000 | ' | ' | ' | ' | ' | ' | 28,400,000 | ' | ' | ' | ' |
Expenses in discontinued operations, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,300,000 | ' | ' | ' | ' |
Early retirement program expense | ' | ' | 22,700,000 | 8,508,000 | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | 22,700,000 | 8,500,000 | ' |
Early retirement program expense, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | 14,500,000 | 5,300,000 | ' |
Pre-tax gain (loss) on sale and/or disposition | 0 | -2,174,000 | -70,000 | 23,759,000 | ' | ' | ' | 3,600,000 | -5,700,000 | ' | ' | ' | ' | ' | ' |
After-tax gain (loss) on sale and/or disposition | ' | ' | ' | ' | -1,900,000 | 18,500,000 | ' | 10,200,000 | ' | ' | ' | ' | ' | ' | ' |
Income tax benefits in connection with sales and/or dispositions of businesses | ' | ' | ' | ' | ' | ' | $23,200,000 | ' | ' | $44,500,000 | ' | ' | ' | ' | ' |
Discontinued_Operations_Carryi
Discontinued Operations (Carrying Amounts of Assets and Liabilities Included in Discontinued Operations) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Discontinued Operation Balance Sheet Disclosures [Abstract] | ' | ' |
Cash and cash equivalents | $849 | ' |
Accounts receivable, net | 60,369 | ' |
Inventories | 3,965 | ' |
Other current assets | 5,177 | ' |
Current Assets of Discontinued Operations | 70,360 | 0 |
Property, plant and equipment, net | 116,639 | ' |
Goodwill, net | 13,602 | ' |
Prepaid pension cost | 50,000 | ' |
Deferred charges and other assets | 4,499 | ' |
Noncurrent Assets of Discontinued Operations | 184,740 | 0 |
Accounts payable and accrued liabilities | 35,616 | ' |
Deferred revenue | 22,207 | ' |
Current Liabilities of Discontinued Operations | 57,823 | 0 |
Postretirement benefits other than pensions | 24,999 | ' |
Accrued compensation and related benefits | 8,998 | ' |
Other liabilities | 11,735 | ' |
Noncurrent Liabilities of Discontinued Operations | $45,732 | $0 |
Discontinued_Operations_Summar
Discontinued Operations (Summarized (Loss) Income from Discontinued Operations, Net Of Tax) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Discontinued Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues | $124,725 | ' | ' | ' | $137,668 | ' | ' | $382,705 | $441,308 | ' | ' |
Expenses in discontinued operations | 165,380 | ' | ' | ' | 155,701 | ' | ' | 467,434 | 491,698 | ' | ' |
Loss from discontinued operations | -40,655 | ' | ' | ' | -18,033 | ' | ' | -84,729 | -50,390 | ' | ' |
Benefit from income taxes | -14,783 | ' | ' | ' | -5,568 | ' | ' | -30,059 | -16,568 | ' | ' |
Net Loss from Discontinued Operations | -25,872 | ' | ' | ' | -12,465 | ' | ' | -54,670 | -33,822 | ' | ' |
(Loss) gain on sales of discontinued operations | 0 | ' | ' | ' | -2,174 | ' | ' | -70 | 23,759 | ' | ' |
Benefit from income taxes on sales of discontinued operations | 0 | ' | ' | ' | -52,178 | ' | ' | -24 | -64,591 | ' | ' |
(Loss) Income from Discontinued Operations, Net of Tax | ($25,872) | ($7,620) | ($21,224) | $5,600 | $37,539 | $10,264 | $6,725 | ($54,716) | $54,528 | $60,128 | ($34,231) |
Discontinued_Operations_Operat
Discontinued Operations (Operating Results After Reclassifying Certain Operations As Discontinued Operations) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Revenues [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Education | $546,452 | $548,230 | $527,815 | $546,341 | $551,696 | $551,774 | $546,685 | $1,622,497 | $1,650,155 | $2,196,496 | $2,404,459 |
Advertising | 84,444 | 96,670 | 82,994 | 117,696 | 105,855 | 94,649 | 82,600 | 264,108 | 283,104 | 400,800 | 327,877 |
Subscriber and circulation | 190,302 | 192,273 | 186,790 | 186,383 | 185,326 | 182,639 | 178,022 | 569,365 | 545,987 | 732,370 | 710,253 |
Other | 81,281 | 52,423 | 39,241 | 45,471 | 34,760 | 25,368 | 20,305 | 172,945 | 80,433 | 125,904 | 83,408 |
Total operating revenues | 902,479 | 889,596 | 836,840 | 895,891 | 877,637 | 854,430 | 827,612 | 2,628,915 | 2,559,679 | 3,455,570 | 3,525,997 |
Operating Costs and Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | 430,889 | 400,515 | 381,965 | 389,620 | 407,364 | 387,167 | 382,106 | 1,213,369 | 1,176,637 | 1,566,257 | 1,562,615 |
Selling, general and administrative | 331,247 | 323,182 | 337,865 | 336,262 | 314,359 | 335,054 | 347,841 | 992,294 | 997,254 | 1,333,516 | 1,383,660 |
Depreciation of property, plant and equipment | 55,633 | 57,816 | 59,895 | 73,731 | 57,588 | 56,594 | 56,165 | 173,344 | 170,347 | 244,078 | 223,403 |
Amortization of intangible assets | 2,837 | 3,313 | 3,717 | 7,610 | 5,090 | 4,407 | 3,839 | 9,867 | 13,336 | 20,946 | 22,201 |
Impairment of goodwill and other long-lived assets | ' | ' | ' | 111,593 | ' | 0 | 0 | ' | ' | 111,593 | 0 |
Total operating costs and expenses | 820,606 | 784,826 | 783,442 | 918,816 | 784,401 | 783,222 | 789,951 | 2,388,874 | 2,357,574 | 3,276,390 | 3,191,879 |
Income (Loss) from Operations | 81,873 | 104,770 | 53,398 | -22,925 | 93,236 | 71,208 | 37,661 | 240,041 | 202,105 | 179,180 | 334,118 |
Equity in earnings of affiliates, net | 5,892 | 3,868 | 3,418 | 2,785 | 4,099 | 3,314 | 3,888 | 13,178 | 11,301 | 14,086 | 5,949 |
Interest income | 642 | 522 | 510 | 901 | 648 | 775 | 1,069 | 1,674 | 2,492 | 3,393 | 4,147 |
Interest expense | -9,221 | -9,048 | -8,960 | -9,064 | -8,738 | -8,979 | -9,163 | -27,229 | -26,880 | -35,944 | -33,226 |
Other income (expense), net | 8,110 | -12,858 | -4,083 | -17,572 | 4,163 | -635 | 8,588 | -8,831 | 12,116 | -5,456 | -55,200 |
Income (Loss) From Continuing Operations Before Income Taxes | 87,296 | 87,254 | 44,283 | -45,875 | 93,408 | 65,683 | 42,043 | 218,833 | 201,134 | 155,259 | 255,788 |
Provision for Income Taxes | 31,000 | 34,500 | 17,800 | 5,100 | 37,000 | 23,900 | 17,200 | 83,300 | 78,100 | 83,200 | 104,400 |
Income (Loss) from Continuing Operations | 56,296 | 52,754 | 26,483 | -50,975 | 56,408 | 41,783 | 24,843 | 135,533 | 123,034 | 72,059 | 151,388 |
Income (Loss) from Discontinued Operations, Net of Tax | -25,872 | -7,620 | -21,224 | 5,600 | 37,539 | 10,264 | 6,725 | -54,716 | 54,528 | 60,128 | -34,231 |
Net Income (Loss) | 30,424 | 45,134 | 5,259 | -45,375 | 93,947 | 52,047 | 31,568 | 80,817 | 177,562 | 132,187 | 117,157 |
Net (Income) Loss Attributable to Noncontrolling Interests | -75 | -253 | -97 | -64 | 71 | -11 | -70 | -425 | -10 | -74 | -7 |
Net Income (Loss) Attributable to The Washington Post Company | 30,349 | 44,881 | 5,162 | -45,439 | 94,018 | 52,036 | 31,498 | 80,392 | 177,552 | 132,113 | 117,150 |
Redeemable Preferred Stock Dividends | -205 | -206 | -444 | 0 | -222 | -222 | -451 | -855 | -895 | -895 | -917 |
Net Income (Loss) Attributable to The Washington Post Company Common Stockholders | 30,144 | 44,675 | 4,718 | -45,439 | 93,796 | 51,814 | 31,047 | 79,537 | 176,657 | 131,218 | 116,233 |
Amounts Attributable to The Washington Post Company Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) from continuing operations | 56,016 | 52,295 | 25,942 | -51,039 | 56,257 | 41,550 | 24,322 | 134,253 | 122,129 | 71,090 | 150,464 |
Income (Loss) from Discontinued Operations, Net of Tax | -25,872 | -7,620 | -21,224 | 5,600 | 37,539 | 10,264 | 6,725 | -54,716 | 54,528 | 60,128 | -34,231 |
Net Income (Loss) Attributable to The Washington Post Company Common Stockholders | $30,144 | $44,675 | $4,718 | ($45,439) | $93,796 | $51,814 | $31,047 | $79,537 | $176,657 | $131,218 | $116,233 |
Per Share Information Attributable to The Washington Post Company Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic income (loss) per common share from continuing operations | $7.55 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.09 | $16.17 | $9.22 | $19.03 |
Basic income (loss) per common share from discontinued operations | ($3.48) | ($1.03) | ($2.86) | $0.78 | $5.06 | $1.36 | $0.90 | ($7.37) | $7.22 | $8.17 | ($4.33) |
Basic net income (loss) per common share | $4.07 | $6.02 | $0.64 | ($6.57) | $12.64 | $6.84 | $4.07 | $10.72 | $23.39 | $17.39 | $14.70 |
Diluted income (loss) per common share from continuing operations | $7.53 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.07 | $16.17 | $9.22 | $19.03 |
Diluted income (loss) per common share from discontinued operations | ($3.48) | ($1.03) | ($2.86) | $0.78 | $5.06 | $1.36 | $0.90 | ($7.37) | $7.22 | $8.17 | ($4.33) |
Diluted net income (loss) per common share | $4.05 | $6.02 | $0.64 | ($6.57) | $12.64 | $6.84 | $4.07 | $10.70 | $23.39 | $17.39 | $14.70 |
Investments_Narrative_Details
Investments (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Investments in marketable equity securities | ' | ' | $0 | $45,000,000 | ' |
Proceeds from sales of marketable equity securities | ' | ' | 3,600,000 | 2,000,000 | ' |
(Loss) gain on sales of marketable equity securities | 0 | -28,000 | 879,000 | 477,000 | ' |
Company's investments in marketable equity securities | 457,969,000 | ' | 457,969,000 | ' | 380,087,000 |
Unrealized loss on investment | 264,810,000 | ' | 264,810,000 | ' | 184,255,000 |
Strayer Education Inc. [Member] | ' | ' | ' | ' | ' |
Unrealized loss on investment | ($7,000,000) | ' | ($7,000,000) | ' | ' |
Investments_Investments_in_Mar
Investments (Investments in Marketable Equity Securities) (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investments [Abstract] | ' | ' |
Total cost | $193,159 | $195,832 |
Net unrealized gains | 264,810 | 184,255 |
Total Fair Value | $457,969 | $380,087 |
Accounts_Receivable_Accounts_P
Accounts Receivable, Accounts Payable and Accrued Liabilities (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Receivable Accounts Payable And Accrued Liabilities [Abstract] | ' | ' |
Accounts receivable, net | $375,223 | $399,204 |
Total accounts payable and accrued liabilities | $478,827 | $486,396 |
Property_Plant_and_Equipment_N
Property, Plant and Equipment (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation of property, plant and equipment | $55,633 | $57,816 | $59,895 | $73,731 | $57,588 | $56,594 | $56,165 | $173,344 | $170,347 | $244,078 | $223,403 |
Property_Plant_and_Equipment_D
Property, Plant and Equipment (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Property, plant and equipment, net | $910,636 | $1,081,237 |
Acquisitions_and_Dispositions_
Acquisitions and Dispositions (Narrative) (Details) | 9 Months Ended | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | |
Education division and other businesses [Member] | Education division and other businesses [Member] | Kaplan [Member] | |
business | business | ||
Business Acquisition [Line Items] | ' | ' | ' |
Number of businesses acquired | 5 | 4 | ' |
Percent of noncontrolling interest purchased | ' | ' | 15.00% |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Amortization of Intangible Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortization of intangible assets | $2,837,000 | $3,313,000 | $3,717,000 | $7,610,000 | $5,090,000 | $4,407,000 | $3,839,000 | $9,867,000 | $13,336,000 | $20,946,000 | $22,201,000 |
Estimated amortization of intangible assets, remainder of 2013 | 4,000,000 | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' |
Estimated amortization of intangible assets, 2014 | 11,000,000 | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' | ' |
Estimated amortization of intangible assets, 2015 | 9,000,000 | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' | ' |
Estimated amortization of intangible assets, 2016 | 8,000,000 | ' | ' | ' | ' | ' | ' | 8,000,000 | ' | ' | ' |
Estimated amortization of intangible assets, 2017 | 5,000,000 | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' |
Estimated amortization of intangible assets, 2018 | 4,000,000 | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' |
Estimated amortization of intangible assets, after 2018 | $3,000,000 | ' | ' | ' | ' | ' | ' | $3,000,000 | ' | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill) (Details 1) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | $1,485,946 |
Accumulated impairment losses, beginning balance | -168,031 |
Goodwill, net, beginning balance | 1,317,915 |
Reallocation, net | 0 |
Acquisitions | 7,924 |
Reclassification to discontinued operations | -13,602 |
Foreign currency exchange rate changes | -18,755 |
Goodwill, ending balance | 1,401,823 |
Accumulated impairment losses, ending balance | -108,341 |
Goodwill, net, ending balance | 1,293,482 |
Education [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 1,097,058 |
Accumulated impairment losses, beginning balance | -102,259 |
Goodwill, net, beginning balance | 994,799 |
Reallocation, net | 0 |
Acquisitions | 0 |
Reclassification to discontinued operations | 0 |
Foreign currency exchange rate changes | -18,755 |
Goodwill, ending balance | 1,078,303 |
Accumulated impairment losses, ending balance | -102,259 |
Goodwill, net, ending balance | 976,044 |
Higher Education [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 409,184 |
Accumulated impairment losses, beginning balance | 0 |
Goodwill, net, beginning balance | 409,184 |
Foreign currency exchange rate changes | -79 |
Goodwill, ending balance | 409,105 |
Accumulated impairment losses, ending balance | 0 |
Goodwill, net, ending balance | 409,105 |
Test Preparation [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 152,187 |
Accumulated impairment losses, beginning balance | -102,259 |
Goodwill, net, beginning balance | 49,928 |
Foreign currency exchange rate changes | 0 |
Goodwill, ending balance | 152,187 |
Accumulated impairment losses, ending balance | -102,259 |
Goodwill, net, ending balance | 49,928 |
Kaplan International [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 535,687 |
Accumulated impairment losses, beginning balance | 0 |
Goodwill, net, beginning balance | 535,687 |
Foreign currency exchange rate changes | -18,676 |
Goodwill, ending balance | 517,011 |
Accumulated impairment losses, ending balance | 0 |
Goodwill, net, ending balance | 517,011 |
Cable Television [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 85,488 |
Accumulated impairment losses, beginning balance | 0 |
Goodwill, net, beginning balance | 85,488 |
Reallocation, net | 0 |
Acquisitions | 0 |
Reclassification to discontinued operations | 0 |
Foreign currency exchange rate changes | 0 |
Goodwill, ending balance | 85,488 |
Accumulated impairment losses, ending balance | 0 |
Goodwill, net, ending balance | 85,488 |
Newspaper Publishing [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 81,183 |
Accumulated impairment losses, beginning balance | -65,772 |
Goodwill, net, beginning balance | 15,411 |
Reallocation, net | -1,809 |
Acquisitions | 0 |
Reclassification to discontinued operations | -13,602 |
Foreign currency exchange rate changes | 0 |
Goodwill, ending balance | 0 |
Accumulated impairment losses, ending balance | 0 |
Goodwill, net, ending balance | 0 |
Television Broadcasting [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 203,165 |
Accumulated impairment losses, beginning balance | 0 |
Goodwill, net, beginning balance | 203,165 |
Reallocation, net | 0 |
Acquisitions | 0 |
Reclassification to discontinued operations | 0 |
Foreign currency exchange rate changes | 0 |
Goodwill, ending balance | 203,165 |
Accumulated impairment losses, ending balance | 0 |
Goodwill, net, ending balance | 203,165 |
Other Businesses [Member] | ' |
Goodwill [Line Items] | ' |
Goodwill, beginning balance | 19,052 |
Accumulated impairment losses, beginning balance | 0 |
Goodwill, net, beginning balance | 19,052 |
Reallocation, net | 1,809 |
Acquisitions | 7,924 |
Reclassification to discontinued operations | 0 |
Foreign currency exchange rate changes | 0 |
Goodwill, ending balance | 34,867 |
Accumulated impairment losses, ending balance | -6,082 |
Goodwill, net, ending balance | $28,785 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Other Intangible Assets) (Details) 2 (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Amortized intangible assets [Abstract] | ' | ' |
Gross Carrying Amount | 131,439 | 129,641 |
Accumulated Amortization | 87,897 | 84,064 |
Net Carrying Amount | 43,542 | 45,577 |
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets, Net | 541,478 | 539,728 |
Franchise Agreements [Member] | ' | ' |
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets, Net | 496,321 | 496,321 |
Wireless Licenses [Member] | ' | ' |
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets, Net | 22,150 | 22,150 |
Licensure and Accreditation [Member] | ' | ' |
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets, Net | 7,371 | 7,371 |
Other [Member] | ' | ' |
Indefinite Lived Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Indefinite-Lived Intangible Assets, Net | 15,636 | 13,886 |
Non-compete Agreements [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Gross Carrying Amount | 14,054 | 14,008 |
Accumulated Amortization | 13,038 | 12,546 |
Net Carrying Amount | 1,016 | 1,462 |
Non-compete Agreements [Member] | Minimum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '2 years | '2 years |
Non-compete Agreements [Member] | Maximum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '5 years | '5 years |
Student and Customer Relationships [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Gross Carrying Amount | 70,918 | 73,693 |
Accumulated Amortization | 42,141 | 40,787 |
Net Carrying Amount | 28,777 | 32,906 |
Student and Customer Relationships [Member] | Minimum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '2 years | '2 years |
Student and Customer Relationships [Member] | Maximum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '10 years | '10 years |
Databases and Technology [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Gross Carrying Amount | 10,539 | 6,457 |
Accumulated Amortization | 6,457 | 5,707 |
Net Carrying Amount | 4,082 | 750 |
Databases and Technology [Member] | Minimum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '3 years | '3 years |
Databases and Technology [Member] | Maximum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '5 years | '5 years |
Trade Names and Trademarks [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Gross Carrying Amount | 26,100 | 26,634 |
Accumulated Amortization | 19,124 | 18,185 |
Net Carrying Amount | 6,976 | 8,449 |
Trade Names and Trademarks [Member] | Minimum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '2 years | '2 years |
Trade Names and Trademarks [Member] | Maximum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '10 years | '10 years |
Other [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Gross Carrying Amount | 9,828 | 8,849 |
Accumulated Amortization | 7,137 | 6,839 |
Net Carrying Amount | 2,691 | 2,010 |
Other [Member] | Minimum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '1 year | '1 year |
Other [Member] | Maximum [Member] | ' | ' |
Amortized intangible assets [Abstract] | ' | ' |
Useful Life | '25 years | '25 years |
Income_Taxes_Income_from_Opera
Income Taxes (Income from Operations) (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Income (Loss) from Operations before Extraordinary Items [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from Continuing Operations Before Income Taxes | $87,296 | $87,254 | $44,283 | ($45,875) | $93,408 | $65,683 | $42,043 | $218,833 | $201,134 | $155,259 | $255,788 |
Income_Taxes_Provision_for_Inc
Income Taxes (Provision for Income Taxes Components) (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Provision for income taxes on income from continuing operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total provision for income tax | $31,000 | $34,500 | $17,800 | $5,100 | $37,000 | $23,900 | $17,200 | $83,300 | $78,100 | $83,200 | $104,400 |
Income_Taxes_Income_Tax_Reconc
Income Taxes (Income Tax Reconciliation) (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Reconciliation [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total provision for income tax | $31,000 | $34,500 | $17,800 | $5,100 | $37,000 | $23,900 | $17,200 | $83,300 | $78,100 | $83,200 | $104,400 |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt Instrument, Maturity year, start | ' | ' | 1-Oct-13 | ' | 1-Jan-13 |
Debt Instrument, Maturity year, end | ' | ' | 31-Dec-17 | ' | 31-Dec-17 |
Average borrowings outstanding | $449,800,000 | $456,300,000 | $477,500,000 | $467,300,000 | ' |
Weighted average interest rate of borrowings | 7.00% | 7.00% | 7.00% | 7.00% | ' |
Net interest expense incurred | 8,600,000 | 8,100,000 | 25,600,000 | 24,400,000 | ' |
Carrying value of debt instrument | 397,790,000 | ' | 397,790,000 | ' | 397,479,000 |
7.25% Unsecured Notes due February 1, 2019 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Fair value of debt instrument | 475,100,000 | ' | 475,100,000 | ' | 481,400,000 |
Carrying value of debt instrument | 397,800,000 | ' | 397,800,000 | ' | 397,500,000 |
AUD $50 million portion of Revolver [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Borrowings outstanding | 46,589,000 | ' | 46,589,000 | ' | 51,915,000 |
USD $450 million portion of Revolver [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Borrowings outstanding | $0 | ' | $0 | ' | $240,121,000 |
Other Indebtedness [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Minimum interest rate | ' | ' | 0.00% | ' | 0.00% |
Maximum interest rate | ' | ' | 6.00% | ' | 6.00% |
Debt_Details_1
Debt (Details 1) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
7.25% unsecured notes due February 1, 2019 | $397,790 | $397,479 |
Other indebtedness | 6,710 | 7,196 |
Total Debt | 451,089 | 696,711 |
Less: current portion | -3,022 | -243,327 |
Total Long-Term Debt | 448,067 | 453,384 |
USD [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Revolving credit borrowing | 0 | 240,121 |
AUD [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Revolving credit borrowing | $46,589 | $51,915 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ||
Marketable equity securities | $457,969 | $380,087 | ||
7.25% Unsecured Notes due February 1, 2019 [Member] | ' | ' | ||
Liabilities: | ' | ' | ||
7.25% unsecured notes | 475,100 | 481,400 | ||
Level 1 [Member] | ' | ' | ||
Assets | ' | ' | ||
Money market investments | 0 | [1] | 0 | [2] |
Marketable equity securities | 457,969 | [3] | 380,087 | [3] |
Other current investments | 16,413 | [4] | 14,134 | [4] |
Total Financial Assets | 474,382 | 394,221 | ||
Liabilities: | ' | ' | ||
Deferred compensation plan liabilities | 0 | [5] | 0 | [5] |
7.25% unsecured notes | 0 | [6] | 0 | [6] |
AUD Revolving credit borrowing | 0 | [6] | 0 | [6] |
Interest rate swap | 0 | [7] | 0 | [7] |
Total Financial Liabilities | 0 | 0 | ||
Level 2 [Member] | ' | ' | ||
Assets | ' | ' | ||
Money market investments | 296,914 | [1] | 432,670 | [2] |
Marketable equity securities | 0 | [3] | 0 | [3] |
Other current investments | 23,281 | [4] | 24,717 | [4] |
Total Financial Assets | 320,195 | 457,387 | ||
Liabilities: | ' | ' | ||
Deferred compensation plan liabilities | 63,685 | [5] | 62,297 | [5] |
7.25% unsecured notes | 475,144 | [6] | 481,424 | [6] |
AUD Revolving credit borrowing | 46,589 | [6] | 51,915 | [6] |
Interest rate swap | 1,308 | [7] | 1,567 | [7] |
Total Financial Liabilities | 586,726 | 597,203 | ||
Total [Member] | ' | ' | ||
Assets | ' | ' | ||
Money market investments | 296,914 | [1] | 432,670 | [2] |
Marketable equity securities | 457,969 | [3] | 380,087 | [3] |
Other current investments | 39,694 | [4] | 38,851 | [4] |
Total Financial Assets | 794,577 | 851,608 | ||
Liabilities: | ' | ' | ||
Deferred compensation plan liabilities | 63,685 | [5] | 62,297 | [5] |
7.25% unsecured notes | 475,144 | [6] | 481,424 | [6] |
AUD Revolving credit borrowing | 46,589 | [6] | 51,915 | [6] |
Interest rate swap | 1,308 | [7] | 1,567 | [7] |
Total Financial Liabilities | $586,726 | $597,203 | ||
[1] | The Companybs money market investments are included in cash and cash equivalents. | |||
[2] | The Companybs money market investments are included in cash, cash equivalents and restricted cash. | |||
[3] | The Companybs investments in marketable equity securities are classified as available-for-sale. | |||
[4] | Includes U.S. Government Securities, corporate bonds, mutual funds and time deposits (with original maturities greater than 90 days, but less than one year). | |||
[5] | Includes The Washington Post Company Deferred Compensation Plan and supplemental savings plan benefits under The Washington Post Company Supplemental Executive Retirement Plan, which are included in accrued compensation and related benefits. | |||
[6] | See Note 6 for carrying amount of these notes and borrowing. | |||
[7] | Included in Other liabilities. The Company utilized a market approach model using the notional amount of the interest rate swap multiplied by the observable inputs of time to maturity and market interest rates. |
Earnings_Per_Share_Narrative_D
Earnings Per Share (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Accelerated dividends in lieu of regular quarterly dividends in 2013 [Member] | Stock Option Plan [Member] | Stock Option Plan [Member] | Stock Option Plan [Member] | Stock Option Plan [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities, shares | ' | ' | ' | 13,000 | 123,494 | 63,000 | 111,994 | 8,800 | 51,500 | 8,800 | 51,500 |
Dividends declared per common share | $2.45 | $9.80 | $9.80 | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations attributable to The Washington Post Company common stockholders | $56,016 | $52,295 | $25,942 | ($51,039) | $56,257 | $41,550 | $24,322 | $134,253 | $122,129 | $71,090 | $150,464 |
Less: Amount attributable to participating securities | -1,444 | ' | ' | ' | -1,117 | ' | ' | -3,462 | -2,398 | ' | ' |
Basic income from continuing operations attributable to The Washington Post Company common stockholders | 54,572 | ' | ' | ' | 55,140 | ' | ' | 130,791 | 119,731 | ' | ' |
Plus: Amount attributable to participating securities | 1,444 | ' | ' | ' | 1,117 | ' | ' | 3,462 | 2,398 | ' | ' |
Diluted income from continuing operations attributable to The Washington Post Company common stockholders | $56,016 | ' | ' | ' | $56,257 | ' | ' | $134,253 | $122,129 | ' | ' |
Basic weighted average shares outstanding | 7,231 | ' | ' | ' | 7,272 | ' | ' | 7,229 | 7,405 | ' | ' |
Diluted weighted average shares outstanding | 7,337 | ' | ' | ' | 7,376 | ' | ' | 7,316 | 7,508 | ' | ' |
Income Per Share From Continuing Operations To Common Stockholders [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $7.55 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.09 | $16.17 | $9.22 | $19.03 |
Diluted | $7.53 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.07 | $16.17 | $9.22 | $19.03 |
Stock Option Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Plus: Effect of dilutive shares related to stock options and restricted stock | 15 | ' | ' | ' | 0 | ' | ' | 8 | 0 | ' | ' |
Restricted Stock Awards [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Plus: Effect of dilutive shares related to stock options and restricted stock | 91 | ' | ' | ' | 104 | ' | ' | 79 | 103 | ' | ' |
Pension_and_Postretirement_Pla2
Pension and Postretirement Plans (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | ($2,733,000) | ($2,638,000) | ($2,729,000) | ($631,000) | ($1,134,000) | ($3,368,000) | ($3,475,000) | ($8,100,000) | ($7,977,000) | ($8,608,000) | ($23,219,000) |
Early retirement program expense | ' | ' | ' | ' | ' | ' | ' | 22,700,000 | 8,508,000 | ' | ' |
Sale of Publishing Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Early retirement program expense | ' | ' | ' | ' | 7,500,000 | ' | ' | 22,700,000 | 8,500,000 | ' | ' |
Sale of Publishing Subsidiaries [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional amount to be transferred to Purchaser related to pension | 50,000,000 | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' |
Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | 2,843,000 | ' | ' | ' | 12,832,000 | ' | ' | 34,125,000 | 18,488,000 | ' | ' |
Early retirement program expense | 0 | ' | ' | ' | 7,486,000 | ' | ' | 22,700,000 | 8,508,000 | ' | ' |
Number of investment companies actively managing plan assets | 2 | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' |
Amount of plan assets managed internally by the company | 'None | ' | ' | ' | ' | ' | ' | 'None | ' | ' | ' |
Percentage of total plan assets | 100.00% | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | 100.00% | ' |
Pension Plan [Member] | Washington Post Newspaper [Member] | Voluntary Retirement Incentive Program [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Early retirement program expense | ' | 8,400,000 | 12,000,000 | ' | 7,500,000 | ' | ' | 20,400,000 | ' | ' | ' |
Pension Plan [Member] | Washington Post Newspaper [Member] | Special Separation Benefits [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Early retirement program expense | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Pension Plan [Member] | Post-Newsweek Media [Member] | Voluntary Retirement Incentive Program [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Early retirement program expense | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' |
Pension Plan [Member] | Sale of Publishing Subsidiaries [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | 5,600,000 | ' | ' | ' | 13,900,000 | ' | ' | 42,200,000 | 26,300,000 | ' | ' |
Supplemental Executive Retirement Plan (SERP) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | 2,177,000 | ' | ' | ' | 1,899,000 | ' | ' | 6,531,000 | 5,697,000 | ' | ' |
Supplemental Executive Retirement Plan (SERP) [Member] | Sale of Publishing Subsidiaries [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | 200,000 | ' | ' | ' | 200,000 | ' | ' | 600,000 | 500,000 | ' | ' |
Other Postretirement Plans [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | -574,000 | ' | ' | ' | -310,000 | ' | ' | -5,284,000 | -929,000 | ' | ' |
Settlement gain | 0 | ' | ' | ' | 0 | ' | ' | -3,471,000 | 0 | ' | ' |
Other Postretirement Plans [Member] | Daily Herald [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement gain | ' | ' | ' | ' | ' | ' | ' | -3,500,000 | ' | ' | ' |
Other Postretirement Plans [Member] | Sale of Publishing Subsidiaries [Member] | Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Cost (Benefit) | -1,500,000 | ' | ' | ' | -600,000 | ' | ' | -2,800,000 | -1,800,000 | ' | ' |
Berkshire Hathaway Common Stock [Member] | Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' |
Value of related party investments | 228,600,000 | ' | ' | 179,900,000 | ' | ' | ' | 228,600,000 | ' | 179,900,000 | ' |
Foreign Investments [Member] | Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined benefit plan, target allocation maximum percentage of assets, equity securities | ' | ' | ' | ' | ' | ' | ' | 24.00% | ' | ' | ' |
Fixed income securities [Member] | Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined benefit plan, target allocation percentage of assets, fixed-income securities, range minimum | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' |
Single Equity Concentration [Member] | Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined benefit plan, target allocation maximum percentage of assets, singular equity security, without prior approval by plan administrator | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' |
Value of investments | 389,300,000 | ' | ' | 223,100,000 | ' | ' | ' | 389,300,000 | ' | 223,100,000 | ' |
Percentage of total plan assets | 16.00% | ' | ' | 11.00% | ' | ' | ' | 16.00% | ' | 11.00% | ' |
Number of investments the company's pension plan held which individually exceed 10% of total plan assets | 1 | ' | ' | 1 | ' | ' | ' | 1 | ' | 1 | ' |
Concentration In Single Entity, Type Of Industry, Foreign Country Or Individual Fund [Member] | Defined Benefit Plan Assets Total [Member] | Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum percentage of plan assets considered as significant concentrations in pension plans | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' |
Geographic Concentration [Member] | Foreign Investments [Member] | Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retirement Benefits Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of investments | $406,400,000 | ' | ' | $240,400,000 | ' | ' | ' | $406,400,000 | ' | $240,400,000 | ' |
Percentage of total plan assets | 16.00% | ' | ' | 12.00% | ' | ' | ' | 16.00% | ' | 12.00% | ' |
Number of foreign countries for which the companys pension plan holds investments that exceed 10% of total plan assets | 1 | ' | ' | 1 | ' | ' | ' | 1 | ' | 1 | ' |
Pension_and_Postretirement_Pla3
Pension and Postretirement Plans (Obligation, Asset, and Funding Information) (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Pension Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $12,713 | $10,876 | $38,788 | $28,684 |
Interest cost | 14,242 | 14,828 | 42,776 | 44,248 |
Supplemental Executive Retirement Plan (SERP) [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 429 | 367 | 1,288 | 1,100 |
Interest cost | 1,023 | 1,060 | 3,069 | 3,181 |
Other Postretirement Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | 728 | 778 | 2,183 | 2,335 |
Interest cost | $508 | $684 | $1,525 | $2,052 |
Pension_and_Postretirement_Pla4
Pension and Postretirement Plans (Total Benefit/Cost) (Details 5) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Periodic Cost (Benefit) | ' | ' | ' | ' | ' | ' | ' | $11,425 | $9,980 | ' | ' |
Early retirement program expense | ' | ' | ' | ' | ' | ' | ' | 22,700 | 8,508 | ' | ' |
Total Cost (Benefit) | -2,733 | -2,638 | -2,729 | -631 | -1,134 | -3,368 | -3,475 | -8,100 | -7,977 | -8,608 | -23,219 |
Amortization of prior service credit (cost) | -384 | ' | ' | ' | -469 | ' | ' | -1,205 | -1,390 | ' | ' |
Curtailment loss | 0 | ' | ' | ' | 0 | ' | ' | -3,471 | 0 | ' | ' |
Total Recognized in Other Comprehensive Income (Before Tax Effects) | -1,620 | ' | ' | ' | -2,123 | ' | ' | -1,649 | -5,449 | ' | ' |
Pension Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | 12,713 | ' | ' | ' | 10,876 | ' | ' | 38,788 | 28,684 | ' | ' |
Interest cost | 14,242 | ' | ' | ' | 14,828 | ' | ' | 42,776 | 44,248 | ' | ' |
Expected return on assets | -26,817 | ' | ' | ' | -23,779 | ' | ' | -78,606 | -72,301 | ' | ' |
Amortization of prior service cost (credit) | 908 | ' | ' | ' | 919 | ' | ' | 2,726 | 2,775 | ' | ' |
Recognized actuarial loss (gain) | 1,797 | ' | ' | ' | 2,502 | ' | ' | 5,741 | 6,574 | ' | ' |
Net Periodic Cost (Benefit) | 2,843 | ' | ' | ' | 5,346 | ' | ' | 11,425 | 9,980 | ' | ' |
Early retirement program expense | 0 | ' | ' | ' | 7,486 | ' | ' | 22,700 | 8,508 | ' | ' |
Total Cost (Benefit) | 2,843 | ' | ' | ' | 12,832 | ' | ' | 34,125 | 18,488 | ' | ' |
Supplemental Executive Retirement Plan (SERP) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | 429 | ' | ' | ' | 367 | ' | ' | 1,288 | 1,100 | ' | ' |
Interest cost | 1,023 | ' | ' | ' | 1,060 | ' | ' | 3,069 | 3,181 | ' | ' |
Amortization of prior service cost (credit) | 14 | ' | ' | ' | 14 | ' | ' | 41 | 41 | ' | ' |
Recognized actuarial loss (gain) | 711 | ' | ' | ' | 458 | ' | ' | 2,133 | 1,375 | ' | ' |
Total Cost (Benefit) | 2,177 | ' | ' | ' | 1,899 | ' | ' | 6,531 | 5,697 | ' | ' |
Other Postretirement Plans [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Service cost | 728 | ' | ' | ' | 778 | ' | ' | 2,183 | 2,335 | ' | ' |
Interest cost | 508 | ' | ' | ' | 684 | ' | ' | 1,525 | 2,052 | ' | ' |
Amortization of prior service cost (credit) | -1,306 | ' | ' | ' | -1,402 | ' | ' | -3,972 | -4,206 | ' | ' |
Recognized actuarial loss (gain) | -504 | ' | ' | ' | -370 | ' | ' | -1,549 | -1,110 | ' | ' |
Net Periodic Cost (Benefit) | -574 | ' | ' | ' | -310 | ' | ' | -1,813 | -929 | ' | ' |
Settlement gain | 0 | ' | ' | ' | 0 | ' | ' | -3,471 | 0 | ' | ' |
Total Cost (Benefit) | ($574) | ' | ' | ' | ($310) | ' | ' | ($5,284) | ($929) | ' | ' |
Pension_and_Postretirement_Pla5
Pension and Postretirement Plans (Accumulated Other Comprehensive Income) (Details 7) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net amount | ($118,159) | ($117,169) |
Pension_and_Postretirement_Pla6
Pension and Postretirement Plans (Asset Allocation) (Details 9) (Pension Plan [Member]) | Sep. 30, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan Assets | 100.00% | 100.00% |
Equity Securities [Member] | U.S. [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan Assets | 60.00% | 64.00% |
Equity Securities [Member] | International [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan Assets | 28.00% | 23.00% |
Fixed Income [Member] | U.S. [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Defined Benefit Plan Assets | 12.00% | 13.00% |
Other_NonOperating_Income_Expe2
Other Non-Operating Income (Expense) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Other Non-Operating Income (Expense) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency gain (loss), net | $7,886 | ' | ' | ' | $3,111 | ' | ' | ($9,350) | $3,179 | ' | ' |
(Loss) gain on sales of marketable equity securities | 0 | ' | ' | ' | -28 | ' | ' | 879 | 477 | ' | ' |
Gain (loss) on sales or write-downs of cost method investments, net | 18 | ' | ' | ' | -112 | ' | ' | -160 | 6,760 | ' | ' |
Other, net | 206 | ' | ' | ' | 1,192 | ' | ' | -200 | 1,700 | ' | ' |
Total Other Non-Operating Income (Expense) | $8,110 | ($12,858) | ($4,083) | ($17,572) | $4,163 | ($635) | $8,588 | ($8,831) | $12,116 | ($5,456) | ($55,200) |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Components of OCI) (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Foreign currency translation adjustments: | ' | ' | ' | ' |
Translation adjustments arising during the period, before tax | $5,639 | $5,321 | ($2,061) | $4,233 |
Translation adjustments arising during the period, income tax | 0 | 0 | 0 | 0 |
Translation adjustments arising during the period, after tax | 5,639 | 5,321 | -2,061 | 4,233 |
Adjustment for sales of businesses with foreign operations, before tax | 0 | -1,409 | 0 | -888 |
Adjustment for sales of businesses with foreign operations, income tax | 0 | 0 | 0 | 0 |
Adjustment for sales of businesses with foreign operations, after tax | 0 | -1,409 | 0 | -888 |
Total foreign currency translation adjustments, before tax | 5,639 | 3,912 | -2,061 | 3,345 |
Total foreign currency translation adjustments, income tax | 0 | 0 | 0 | 0 |
Total foreign currency translation adjustments, after tax | 5,639 | 3,912 | -2,061 | 3,345 |
Unrealized gains (losses) on available-for-sale securities: | ' | ' | ' | ' |
Unrealized gains (losses) for the period, before tax | 938 | -5,966 | 81,439 | 32,939 |
Unrealized gains (losses) for the period, tax | -375 | 2,387 | -32,575 | -13,175 |
Unrealized gains (losses) for the period, after tax | 563 | -3,579 | 48,864 | 19,764 |
Reclassification adjustment for gain on available-for-sale securities included in net income, before tax | 0 | 0 | -884 | -772 |
Reclassification adjustment for gain on available-for-sale securities included in net income, income tax | ' | ' | 353 | 309 |
Reclassification adjustment for gain on available-for-sale securities included in net income, after tax | ' | ' | -531 | -463 |
Total unrealized gains (losses) on available-for-sale securities, before tax | 938 | -5,966 | 80,555 | 32,167 |
Total unrealized gains (losses) on available-for-sale securities, income tax | -375 | 2,387 | -32,222 | -12,866 |
Total unrealized gains (losses) on available-for-sale securities, after tax | 563 | -3,579 | 48,333 | 19,301 |
Pension and other postretirement plans: | ' | ' | ' | ' |
Amortization of net prior service credit included in net income | -384 | -469 | -1,205 | -1,390 |
Amortization of net prior service credit included in net income, income tax | 154 | 187 | 482 | 556 |
Amortization of net prior service credit included in net income, after tax | -230 | -282 | -723 | -834 |
Amortization of net actuarial loss included in net income, before tax | 2,004 | 2,592 | 6,325 | 6,839 |
Amortization of net actuarial loss included in net income, income tax | -801 | -1,036 | -2,529 | -2,735 |
Amortization of net actuarial loss included in net income, after tax | 1,203 | 1,556 | 3,796 | 4,104 |
Settlement gain included in net income, before tax | 0 | 0 | -3,471 | 0 |
Settlement gain included in net income, income tax | ' | ' | 1,388 | 0 |
Settlement gain included in net income, after tax | ' | ' | -2,083 | 0 |
Total pension and other postretirement plans, before tax | 1,620 | 2,123 | 1,649 | 5,449 |
Total pension and other postretirement plans, income tax | -647 | -849 | -659 | -2,179 |
Total pension and other postretirement plans, after tax | 973 | 1,274 | 990 | 3,270 |
Cash flow hedge: | ' | ' | ' | ' |
Gain (loss) for the period, before tax | 15 | 217 | 259 | -1,160 |
Gain (loss) for the period, income tax | -6 | -87 | -104 | 465 |
Gain (loss) for the period, after tax | 9 | 130 | 155 | -695 |
Other Comprehensive Income, before tax | 8,212 | 286 | 80,402 | 39,801 |
Other Comprehensive Income, income tax | -1,028 | 1,451 | -32,985 | -14,580 |
Other Comprehensive Income, after tax | $7,184 | $1,737 | $47,417 | $25,221 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) (AOCI balances) (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Cumulative Foreign Currency Translation Adjustment, beginning balance | ' | ' | $26,072 | ' |
Cumulative Foreign Currency Translation Adjustment - Other comprehensive income (loss) before reclassifications | 5,639 | 5,321 | -2,061 | 4,233 |
Cumulative Foreign Currency Translation Adjustment - Net amount reclassified from accumulated other comprehensive income | 0 | 1,409 | 0 | 888 |
Cumulative Foreign Currency Translation Adjustment - Net other comprehensive income (loss) | 5,639 | 3,912 | -2,061 | 3,345 |
Cumulative Foreign Currency Translation Adjustment, ending balance | 24,011 | ' | 24,011 | ' |
Unrealized Gain on Available-for-Sale Securities, beginning balance | ' | ' | 110,553 | ' |
Unrealized Gain on Available-for-Sale Securities - Other comprehensive income (loss) before reclassifications | ' | ' | 48,864 | ' |
Unrealized Gain on Available-for-Sale Securities - Net amount reclassified from accumulated other comprehensive income | ' | ' | -531 | -463 |
Unrealized Gain on Available-for-Sale Securities - Net other comprehensive income (loss) | 563 | -3,579 | 48,333 | 19,301 |
Unrealized Gain on Available-for-Sale Securities, ending balance | 158,886 | ' | 158,886 | ' |
Unrealized Gain on Pensions and Other Postretirement Plans, beginning balance | ' | ' | 117,169 | ' |
Unrealized Gain on Pensions and Other Postretirement Plans - Other comprehensive income (loss) before reclassifications | ' | ' | 0 | ' |
Unrealized Gain on Pensions and Other Postretirement Plans - Net amount reclassified from accumulated other comprehensive income | ' | ' | 990 | ' |
Unrealized Gain on Pensions and Other Postretirement Plans - Net other comprehensive income (loss) | 973 | 1,274 | 990 | 3,270 |
Unrealized Gain on Pensions and Other Postretirement Plans, ending balance | 118,159 | ' | 118,159 | ' |
Cash Flow Hedge, beginning balance | ' | ' | -940 | ' |
Cash Flow Hedge - Other comprehensive income (loss) before reclassifications | ' | ' | -198 | ' |
Cash Flow Hedge - Net amount reclassified from accumulated other comprehensive income | ' | ' | 353 | ' |
Cash Flow Hedge - Net other comprehensive income (loss) | 9 | 130 | 155 | -695 |
Cash Flow Hedge, ending balance | -785 | ' | -785 | ' |
Accumulated Other Comprehensive Income, beginning balance | ' | ' | 252,854 | ' |
Accumulated Other Comprehensive Income - Other comprehensive income (loss) before reclassifications | ' | ' | 46,605 | ' |
Accumulated Other Comprehensive Income - Net amount reclassified from accumulated other comprehensive income | ' | ' | 812 | ' |
Accumulated Other Comprehensive Income - Net other comprehensive income (loss) | 7,184 | 1,737 | 47,417 | 25,221 |
Accumulated Other Comprehensive Income, ending balance | $300,271 | ' | $300,271 | ' |
Accumulated_Other_Comprehensiv4
Accumulated Other Comprehensive Income (Loss) (Reclassifications out of AOCI) (Details 3) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
(Loss) Income from Discontinued Operations, Net of Tax | ($25,872) | ($7,620) | ($21,224) | $5,600 | $37,539 | $10,264 | $6,725 | ($54,716) | $54,528 | $60,128 | ($34,231) | ||||
Interest expense | 9,221 | 9,048 | 8,960 | 9,064 | 8,738 | 8,979 | 9,163 | 27,229 | 26,880 | 35,944 | 33,226 | ||||
Other income (expense), net | 8,110 | -12,858 | -4,083 | -17,572 | 4,163 | -635 | 8,588 | -8,831 | 12,116 | -5,456 | -55,200 | ||||
Income Before Tax | 87,296 | 87,254 | 44,283 | -45,875 | 93,408 | 65,683 | 42,043 | 218,833 | 201,134 | 155,259 | 255,788 | ||||
Provision for Income Taxes | -31,000 | -34,500 | -17,800 | -5,100 | -37,000 | -23,900 | -17,200 | -83,300 | -78,100 | -83,200 | -104,400 | ||||
Income Net of Tax | 56,296 | 52,754 | 26,483 | -50,975 | 56,408 | 41,783 | 24,843 | 135,533 | 123,034 | 72,059 | 151,388 | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Income Net of Tax | 1,096 | ' | ' | ' | -56 | ' | ' | 812 | 2,019 | ' | ' | ||||
Foreign Currency Translation Adjustments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
(Loss) Income from Discontinued Operations, Net of Tax | 0 | ' | ' | ' | -1,409 | ' | ' | 0 | -888 | ' | ' | ||||
Unrealized Gain (Losses) on Available- for- Sale Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Other income (expense), net | 0 | ' | ' | ' | 0 | ' | ' | -884 | -772 | ' | ' | ||||
Provision for Income Taxes | 0 | ' | ' | ' | 0 | ' | ' | 353 | 309 | ' | ' | ||||
Income Net of Tax | 0 | ' | ' | ' | 0 | ' | ' | -531 | -463 | ' | ' | ||||
Pension and Other Postretirement Plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Income Before Tax | 1,620 | ' | ' | ' | 2,123 | ' | ' | 1,649 | 5,449 | ' | ' | ||||
Provision for Income Taxes | -647 | ' | ' | ' | -849 | ' | ' | -659 | -2,179 | ' | ' | ||||
Income Net of Tax | 973 | ' | ' | ' | 1,274 | ' | ' | 990 | 3,270 | ' | ' | ||||
Amortization of net prior service credit [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Income Before Tax | -384 | [1] | ' | ' | ' | -469 | [1] | ' | ' | -1,205 | [1] | -1,390 | [1] | ' | ' |
Amortization of net actuarial loss [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Income Before Tax | 2,004 | [1] | ' | ' | ' | 2,592 | [1] | ' | ' | 6,325 | [1] | 6,839 | [1] | ' | ' |
Settlement gain [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Income Before Tax | 0 | [1] | ' | ' | ' | 0 | [1] | ' | ' | -3,471 | [1] | 0 | [1] | ' | ' |
Cash Flow Hedge [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Interest expense | 205 | ' | ' | ' | 132 | ' | ' | 588 | 167 | ' | ' | ||||
Provision for Income Taxes | -82 | ' | ' | ' | -53 | ' | ' | -235 | -67 | ' | ' | ||||
Income Net of Tax | $123 | ' | ' | ' | $79 | ' | ' | $353 | $100 | ' | ' | ||||
[1] | These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 9). |
Contingencies_Details
Contingencies (Details) | Sep. 30, 2013 |
claims | |
Number of existing legal claims or proceedings that are likely to have a material effect on the Company's business | 0 |
Portion of regulations under 90/10 rule | 'a KHE OPEID unit would lose its eligibility to participate in Title IV programs for a period of at least two fiscal years if it derives more than 90% of its receipts from Title IV programs, as calculated on a cash basis in accordance with the Higher Education Act and applicable DOE regulations, in each of two consecutive fiscal years, commencing with the unit’s first fiscal year that ends after August 14, 2008. Any OPEID unit with Title IV receipts exceeding 90% for a single fiscal year ending after August 14, 2008, will be placed on provisional certification and may be subject to other enforcement measures. |
Percentage of receipts from Title IV programs | 90.00% |
Higher Education [Member] | ' |
OPEID units with 90/10 ratio over 90% | 0 |
Title IV participating institutions including Kaplan University and Broomall, PA [Member] | ' |
Number of open and/or pending DOE program reviews | 4 |
Business_Segments_Narrative_De
Business Segments (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | |
segments | |||||||||||
Number of reportable segments | ' | ' | ' | ' | ' | ' | ' | 6 | ' | ' | ' |
Total operating revenues | $902,479,000 | $889,596,000 | $836,840,000 | $895,891,000 | $877,637,000 | $854,430,000 | $827,612,000 | $2,628,915,000 | $2,559,679,000 | $3,455,570,000 | $3,525,997,000 |
Kaplan International [Member] | Related to certain items recorded in 2011 and 2010 [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Prior periods adjustments | ' | ' | ' | ' | ' | ' | ' | ' | $3,900,000 | ' | ' |
Business_Segments_Information_
Business Segments (Information by Operating Segment) (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Revenues | $902,479 | $889,596 | $836,840 | $895,891 | $877,637 | $854,430 | $827,612 | $2,628,915 | $2,559,679 | $3,455,570 | $3,525,997 |
Income (Loss) from Operations | 81,873 | 104,770 | 53,398 | -22,925 | 93,236 | 71,208 | 37,661 | 240,041 | 202,105 | 179,180 | 334,118 |
Equity in Earnings of Affiliates, Net | 5,892 | 3,868 | 3,418 | 2,785 | 4,099 | 3,314 | 3,888 | 13,178 | 11,301 | 14,086 | 5,949 |
Interest Expense, Net | -8,579 | -8,526 | -8,450 | -8,163 | -8,090 | -8,204 | -8,094 | -25,555 | -24,388 | -32,551 | -29,079 |
Other (Expense) Income, Net | 8,110 | -12,858 | -4,083 | -17,572 | 4,163 | -635 | 8,588 | -8,831 | 12,116 | -5,456 | -55,200 |
Income (Loss) From Continuing Operations Before Income Taxes | 87,296 | 87,254 | 44,283 | -45,875 | 93,408 | 65,683 | 42,043 | 218,833 | 201,134 | 155,259 | 255,788 |
Depreciation of property, plant and equipment | 55,633 | 57,816 | 59,895 | 73,731 | 57,588 | 56,594 | 56,165 | 173,344 | 170,347 | 244,078 | 223,403 |
Amortization of intangible assets and impairment of goodwill and other long-lived assets | ' | ' | ' | 119,203 | 5,090 | 4,407 | 3,839 | 9,867 | 13,336 | 132,539 | 22,201 |
Amortization of intangible assets | 2,837 | 3,313 | 3,717 | 7,610 | 5,090 | 4,407 | 3,839 | 9,867 | 13,336 | 20,946 | 22,201 |
Impairment of goodwill and other long-lived assets | ' | ' | ' | 111,593 | ' | 0 | 0 | ' | ' | 111,593 | 0 |
Net Pension (Credit) Expense | -2,733 | -2,638 | -2,729 | -631 | -1,134 | -3,368 | -3,475 | -8,100 | -7,977 | -8,608 | -23,219 |
Identifiable Assets | 3,820,650 | ' | ' | 4,104,624 | ' | ' | ' | 3,820,650 | ' | 4,104,624 | ' |
Investment in Marketable Equity Securities | 457,969 | ' | ' | 380,087 | ' | ' | ' | 457,969 | ' | 380,087 | ' |
Investments In Affiliates | 32,997 | ' | ' | 15,535 | ' | ' | ' | 32,997 | ' | 15,535 | ' |
Prepaid Pension Cost | 529,165 | ' | ' | 604,823 | ' | ' | ' | 529,165 | ' | 604,823 | ' |
Assets of discontinued operations | 255,100 | ' | ' | 0 | ' | ' | ' | 255,100 | ' | 0 | ' |
Total Assets | 5,095,881 | ' | ' | 5,105,069 | ' | ' | ' | 5,095,881 | ' | 5,105,069 | ' |
Education [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 546,452 | 548,230 | 527,815 | 546,341 | 551,696 | 551,774 | 546,685 | 1,622,497 | 1,650,155 | 2,196,496 | 2,404,459 |
Income (Loss) from Operations | 17,035 | 23,726 | -4,056 | -111,874 | 14,693 | 3,728 | -11,915 | 36,705 | 6,506 | -105,368 | 96,286 |
Depreciation of property, plant and equipment | 18,978 | 20,064 | 22,588 | 37,431 | 22,024 | 21,011 | 20,717 | 61,630 | 63,752 | 101,183 | 83,735 |
Amortization of intangible assets and impairment of goodwill and other long-lived assets | ' | ' | ' | 117,784 | 4,489 | 3,803 | 3,236 | 7,168 | 11,528 | 129,312 | 19,417 |
Amortization of intangible assets | 2,287 | 2,363 | 2,518 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Pension (Credit) Expense | 4,169 | 4,231 | 4,106 | 3,701 | 3,522 | 1,969 | 2,392 | 12,506 | 7,883 | 11,584 | 6,345 |
Identifiable Assets | 1,739,301 | ' | ' | 1,988,015 | ' | ' | ' | 1,739,301 | ' | 1,988,015 | ' |
Higher Education [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 266,061 | ' | ' | ' | 273,703 | ' | ' | 811,013 | 872,948 | ' | ' |
Income (Loss) from Operations | 14,719 | ' | ' | ' | 1,510 | ' | ' | 42,354 | 16,329 | ' | ' |
Depreciation of property, plant and equipment | 9,739 | ' | ' | ' | 12,168 | ' | ' | 33,919 | 35,598 | ' | ' |
Net Pension (Credit) Expense | 3,201 | ' | ' | ' | 2,234 | ' | ' | 8,815 | 5,408 | ' | ' |
Identifiable Assets | 643,342 | ' | ' | 949,260 | ' | ' | ' | 643,342 | ' | 949,260 | ' |
Test Preparation [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 77,431 | ' | ' | ' | 81,151 | ' | ' | 232,064 | 223,767 | ' | ' |
Income (Loss) from Operations | 3,820 | ' | ' | ' | 3,446 | ' | ' | 7,306 | -4,067 | ' | ' |
Depreciation of property, plant and equipment | 5,034 | ' | ' | ' | 5,544 | ' | ' | 14,658 | 14,308 | ' | ' |
Net Pension (Credit) Expense | 731 | ' | ' | ' | 554 | ' | ' | 2,012 | 1,381 | ' | ' |
Identifiable Assets | 182,450 | ' | ' | 197,672 | ' | ' | ' | 182,450 | ' | 197,672 | ' |
Kaplan International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 201,305 | ' | ' | ' | 194,158 | ' | ' | 574,086 | 546,862 | ' | ' |
Income (Loss) from Operations | 12,020 | ' | ' | ' | 20,365 | ' | ' | 24,907 | 34,293 | ' | ' |
Depreciation of property, plant and equipment | 3,903 | ' | ' | ' | 3,841 | ' | ' | 12,015 | 12,490 | ' | ' |
Net Pension (Credit) Expense | 99 | ' | ' | ' | 112 | ' | ' | 273 | 113 | ' | ' |
Identifiable Assets | 878,123 | ' | ' | 818,613 | ' | ' | ' | 878,123 | ' | 818,613 | ' |
Kaplan Corporate and Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 2,223 | ' | ' | ' | 3,809 | ' | ' | 6,496 | 10,283 | ' | ' |
Income (Loss) from Operations | -13,680 | ' | ' | ' | -10,852 | ' | ' | -38,243 | -40,628 | ' | ' |
Depreciation of property, plant and equipment | 302 | ' | ' | ' | 471 | ' | ' | 1,038 | 1,356 | ' | ' |
Net Pension (Credit) Expense | 138 | ' | ' | ' | 622 | ' | ' | 1,406 | 981 | ' | ' |
Identifiable Assets | 35,386 | ' | ' | 22,470 | ' | ' | ' | 35,386 | ' | 22,470 | ' |
Cable Television [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 202,381 | 204,550 | 200,138 | 201,703 | 199,625 | 195,579 | 190,210 | 607,069 | 585,414 | 787,117 | 760,221 |
Income (Loss) from Operations | 39,715 | 44,710 | 36,613 | 43,445 | 39,913 | 38,446 | 32,777 | 121,038 | 111,136 | 154,581 | 156,844 |
Depreciation of property, plant and equipment | 32,946 | 33,964 | 33,733 | 32,366 | 32,310 | 32,234 | 32,197 | 100,643 | 96,741 | 129,107 | 126,302 |
Amortization of intangible assets and impairment of goodwill and other long-lived assets | ' | ' | ' | 52 | 52 | 53 | 54 | 168 | 159 | 211 | 267 |
Amortization of intangible assets | 61 | 57 | 50 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Pension (Credit) Expense | 973 | 913 | 882 | 802 | 694 | 514 | 530 | 2,768 | 1,738 | 2,540 | 1,924 |
Identifiable Assets | 1,189,084 | ' | ' | 1,187,603 | ' | ' | ' | 1,189,084 | ' | 1,187,603 | ' |
Television Broadcasting [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 87,063 | 99,320 | 85,270 | 116,192 | 106,411 | 95,591 | 81,497 | 271,653 | 283,499 | 399,691 | 319,206 |
Income (Loss) from Operations | 36,304 | 47,704 | 35,362 | 62,833 | 54,082 | 43,728 | 30,999 | 119,370 | 128,809 | 191,642 | 117,089 |
Depreciation of property, plant and equipment | 3,109 | 3,151 | 3,145 | 3,545 | 3,126 | 3,222 | 3,125 | 9,405 | 9,473 | 13,018 | 12,448 |
Amortization of intangible assets and impairment of goodwill and other long-lived assets | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Amortization of intangible assets | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Pension (Credit) Expense | 1,251 | 1,213 | 1,288 | 1,523 | 1,432 | 1,055 | 960 | 3,752 | 3,447 | 4,970 | 1,669 |
Identifiable Assets | 371,726 | ' | ' | 374,075 | ' | ' | ' | 371,726 | ' | 374,075 | ' |
Other Businesses [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 66,632 | 37,572 | 23,814 | 31,655 | 20,187 | 11,666 | 9,329 | 128,018 | 41,182 | 72,837 | 42,891 |
Income (Loss) from Operations | -5,046 | -5,968 | -8,542 | -9,935 | -7,324 | -9,005 | -6,746 | -19,556 | -23,075 | -33,010 | -16,771 |
Depreciation of property, plant and equipment | 555 | 577 | 429 | 389 | 128 | 127 | 126 | 1,561 | 381 | 770 | 674 |
Amortization of intangible assets and impairment of goodwill and other long-lived assets | ' | ' | ' | 1,367 | 549 | 551 | 549 | 2,531 | 1,649 | 3,016 | 2,517 |
Amortization of intangible assets | 489 | 893 | 1,149 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Pension (Credit) Expense | 173 | 134 | 116 | 55 | 45 | 33 | 36 | 423 | 114 | 169 | 132 |
Identifiable Assets | 137,068 | ' | ' | 88,393 | ' | ' | ' | 137,068 | ' | 88,393 | ' |
Corporate Office [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Income (Loss) from Operations | -6,135 | -5,402 | -5,979 | -7,394 | -8,128 | -5,689 | -7,454 | -17,516 | -21,271 | -28,665 | -19,330 |
Depreciation of property, plant and equipment | 45 | 60 | 0 | 0 | 0 | 0 | 0 | 105 | 0 | 0 | 244 |
Amortization of intangible assets and impairment of goodwill and other long-lived assets | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Amortization of intangible assets | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Net Pension (Credit) Expense | -9,299 | -9,129 | -9,121 | -6,712 | -6,827 | -6,939 | -7,393 | -27,549 | -21,159 | -27,871 | -33,289 |
Identifiable Assets | 383,471 | ' | ' | 466,538 | ' | ' | ' | 383,471 | ' | 466,538 | ' |
Intersegment Elimination [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | -49 | -76 | -197 | 0 | -282 | -180 | -109 | -322 | -571 | -571 | -780 |
Intersegment Elimination [Member] | Education [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Revenues | -568 | ' | ' | ' | -1,125 | ' | ' | -1,162 | -3,705 | ' | ' |
Income (Loss) from Operations | $156 | ' | ' | ' | $224 | ' | ' | $381 | $579 | ' | ' |
Summary_of_Quarterly_Operating
Summary of Quarterly Operating Results and Comprehensive Income (Unaudited) (Quarterly Results) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating Revenues [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Education | $546,452 | $548,230 | $527,815 | $546,341 | $551,696 | $551,774 | $546,685 | $1,622,497 | $1,650,155 | $2,196,496 | $2,404,459 |
Advertising | 84,444 | 96,670 | 82,994 | 117,696 | 105,855 | 94,649 | 82,600 | 264,108 | 283,104 | 400,800 | 327,877 |
Subscriber and circulation | 190,302 | 192,273 | 186,790 | 186,383 | 185,326 | 182,639 | 178,022 | 569,365 | 545,987 | 732,370 | 710,253 |
Other | 81,281 | 52,423 | 39,241 | 45,471 | 34,760 | 25,368 | 20,305 | 172,945 | 80,433 | 125,904 | 83,408 |
Total operating revenues | 902,479 | 889,596 | 836,840 | 895,891 | 877,637 | 854,430 | 827,612 | 2,628,915 | 2,559,679 | 3,455,570 | 3,525,997 |
Operating Costs and Expenses [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | 430,889 | 400,515 | 381,965 | 389,620 | 407,364 | 387,167 | 382,106 | 1,213,369 | 1,176,637 | 1,566,257 | 1,562,615 |
Selling, general and administrative | 331,247 | 323,182 | 337,865 | 336,262 | 314,359 | 335,054 | 347,841 | 992,294 | 997,254 | 1,333,516 | 1,383,660 |
Depreciation of property, plant and equipment | 55,633 | 57,816 | 59,895 | 73,731 | 57,588 | 56,594 | 56,165 | 173,344 | 170,347 | 244,078 | 223,403 |
Amortization of intangible assets | 2,837 | 3,313 | 3,717 | 7,610 | 5,090 | 4,407 | 3,839 | 9,867 | 13,336 | 20,946 | 22,201 |
Impairment of goodwill and other long-lived assets | ' | ' | ' | 111,593 | ' | 0 | 0 | ' | ' | 111,593 | 0 |
Total operating costs and expenses | 820,606 | 784,826 | 783,442 | 918,816 | 784,401 | 783,222 | 789,951 | 2,388,874 | 2,357,574 | 3,276,390 | 3,191,879 |
Income (Loss) from Operations | 81,873 | 104,770 | 53,398 | -22,925 | 93,236 | 71,208 | 37,661 | 240,041 | 202,105 | 179,180 | 334,118 |
Equity in earnings of affiliates, net | 5,892 | 3,868 | 3,418 | 2,785 | 4,099 | 3,314 | 3,888 | 13,178 | 11,301 | 14,086 | 5,949 |
Interest income | 642 | 522 | 510 | 901 | 648 | 775 | 1,069 | 1,674 | 2,492 | 3,393 | 4,147 |
Interest expense | -9,221 | -9,048 | -8,960 | -9,064 | -8,738 | -8,979 | -9,163 | -27,229 | -26,880 | -35,944 | -33,226 |
Other income (expense), net | 8,110 | -12,858 | -4,083 | -17,572 | 4,163 | -635 | 8,588 | -8,831 | 12,116 | -5,456 | -55,200 |
Income from Continuing Operations Before Income Taxes | 87,296 | 87,254 | 44,283 | -45,875 | 93,408 | 65,683 | 42,043 | 218,833 | 201,134 | 155,259 | 255,788 |
Provision for Income Taxes | 31,000 | 34,500 | 17,800 | 5,100 | 37,000 | 23,900 | 17,200 | 83,300 | 78,100 | 83,200 | 104,400 |
Income (Loss) from Continuing Operations | 56,296 | 52,754 | 26,483 | -50,975 | 56,408 | 41,783 | 24,843 | 135,533 | 123,034 | 72,059 | 151,388 |
(Loss) Income from Discontinued Operations, Net of Tax | -25,872 | -7,620 | -21,224 | 5,600 | 37,539 | 10,264 | 6,725 | -54,716 | 54,528 | 60,128 | -34,231 |
Net Income (Loss) | 30,424 | 45,134 | 5,259 | -45,375 | 93,947 | 52,047 | 31,568 | 80,817 | 177,562 | 132,187 | 117,157 |
Net (Income) Loss Attributable to Noncontrolling Interests | -75 | -253 | -97 | -64 | 71 | -11 | -70 | -425 | -10 | -74 | -7 |
Net Income (Loss) Attributable to The Washington Post Company | 30,349 | 44,881 | 5,162 | -45,439 | 94,018 | 52,036 | 31,498 | 80,392 | 177,552 | 132,113 | 117,150 |
Redeemable Preferred Stock Dividends | -205 | -206 | -444 | 0 | -222 | -222 | -451 | -855 | -895 | -895 | -917 |
Net Income (Loss) Attributable to The Washington Post Company Common Stockholders | 30,144 | 44,675 | 4,718 | -45,439 | 93,796 | 51,814 | 31,047 | 79,537 | 176,657 | 131,218 | 116,233 |
Amounts Attributable to The Washington Post Company Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from continuing operations | 56,016 | 52,295 | 25,942 | -51,039 | 56,257 | 41,550 | 24,322 | 134,253 | 122,129 | 71,090 | 150,464 |
(Loss) income from discontinued operations, net of tax | -25,872 | -7,620 | -21,224 | 5,600 | 37,539 | 10,264 | 6,725 | -54,716 | 54,528 | 60,128 | -34,231 |
Net income (loss) attributable to The Washington Post Company common stockholders | $30,144 | $44,675 | $4,718 | ($45,439) | $93,796 | $51,814 | $31,047 | $79,537 | $176,657 | $131,218 | $116,233 |
Per Share Information Attributable to The Washington Post Company Common Stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic income (loss) per common share from continuing operations | $7.55 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.09 | $16.17 | $9.22 | $19.03 |
Basic (loss) income per common share from discontinued operations | ($3.48) | ($1.03) | ($2.86) | $0.78 | $5.06 | $1.36 | $0.90 | ($7.37) | $7.22 | $8.17 | ($4.33) |
Basic net income (loss) per common share | $4.07 | $6.02 | $0.64 | ($6.57) | $12.64 | $6.84 | $4.07 | $10.72 | $23.39 | $17.39 | $14.70 |
Diluted income (loss) per common share from continuing operations | $7.53 | $7.05 | $3.50 | ($7.35) | $7.58 | $5.48 | $3.17 | $18.07 | $16.17 | $9.22 | $19.03 |
Diluted (loss) income per common share from discontinued operations | ($3.48) | ($1.03) | ($2.86) | $0.78 | $5.06 | $1.36 | $0.90 | ($7.37) | $7.22 | $8.17 | ($4.33) |
Diluted net income (loss) per common share | $4.05 | $6.02 | $0.64 | ($6.57) | $12.64 | $6.84 | $4.07 | $10.70 | $23.39 | $17.39 | $14.70 |
Average number of common shares outstanding, basic | 7,231 | ' | ' | ' | 7,272 | ' | ' | 7,229 | 7,405 | ' | ' |
Average number of common shares outstanding, diluted | 7,337 | ' | ' | ' | 7,376 | ' | ' | 7,316 | 7,508 | ' | ' |