Consolidated Statements of Income

          Fiscal year ended    
     
      January 3, December 28, December 29,
(in thousands, except share amounts) 1999 1997 1996

Operating revenues
  Advertising   $1,297,621   $1,236,877   $1,172,706
  Circulation and subscriber   547,450   519,620   490,973
  Other   265,289   199,756   189,766
       
 
 
        2,110,360   1,956,253   1,853,445
       
 
 
 
Operating costs and expenses
  Operating   1,139,177   1,019,869   1,007,057
  Selling, general and administrative   453,149   449,996   414,280
  Depreciation of property, plant
    and equipment   89,248   71,478   65,103
  Amortization of goodwill and other intangibles   49,889   33,559   29,836
       
 
 
        1,731,463   1,574,902   1,516,276
       
 
 
Income from operations   378,897   381,351   337,169
  Equity in (losses) earnings of affiliates   (5,140)   9,955   19,702
  Interest income   1,137   3,471   5,359
  Interest expense   (11,538)   (1,252)   (1,514)
  Other income (expense), net   304,703   69,549   (499)
       
 
 
Income before income taxes   668,059   463,074   360,217
 
Provision for income taxes   250,800   181,500   139,400
       
 
 
Net income   417,259   281,574   220,817
 
Redeemable preferred stock dividends   (956)   (956)   (680)
       
 
 
Net income available for common shares   $ 416,303   $ 280,618   $ 220,137
       
 
 
Basic earnings per common share   $ 41.27   $ 26.23   $ 20.08
       
 
 
Diluted earnings per common share   $ 41.10   $ 26.15   $ 20.05
       
 
 

 
 

The information in the Notes to Consolidated Financial Statements is an integral part of the financial statements.