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

The New York Times Company
Consolidated Statements of Income
Fiscal year ended
(in thousands)	Dec. 29, 2013	Dec. 30, 2012
Operating revenues
Circulation	$824,277	$795,037
Advertising	666,687	711,829
Other	86,266	88,475
Total revenues	1,577,230	1,595,341
Production Costs
Raw materials	92,886	106,381
Wages and benefits	332,085	331,321
Other	201,942	213,616
Total production costs	626,913	651,318
Selling, general and administrative expenses	706,354	711,112
Depreciation and amortization	78,477	78,980
Total operating costs	1,411,744	1,441,410
Pension settlement expense	3,228	47,657
Multiemployer pension plan withdrawal expense	6,171	0
Other expense	0	2,620
Operating profit	156,087	103,654
Gain on sale of investments	0	220,275
Impairment of investments	0	5,500
(Loss)/income from joint ventures	-3,215	2,936
Premium on debt redemption	0	0
Interest expense, net	58,073	62,808
Income from continuing operations before income taxes	94,799	258,557
Income tax expense	37,892	94,617
Income from continuing operations	56,907	163,940
Discontinued operations:
(Loss) from discontinued operations, net of tax	-20,413	-113,447
Gain on sale, net of tax	28,362	85,520
Income/(loss) from discontinued operations, net of tax	7,949	-27,927
Net income/(loss)	64,856	136,013
Net (income)/loss attributable to the noncontrolling interest	249	-166
Net income/(loss) attributable to New York Times Company common stockholders	65,105	135,847
The New York Times Company
Consolidated Balance Sheets
	As of
(in thousands)	Dec. 29, 2013	Dec. 30, 2012
Cash and cash equivalents	$482,745	$820,490
Short-term investments	364,880	134,820
Accounts receivable, net	202,303	197,589
Deferred income taxes	65,859	58,214
Prepaid assets	20,250	23,085
Other current assets	36,230	26,320
Assets held for sale	0	137,050
Total current assets	1,172,267	1,397,568
Long-term marketable securities	176,155	4,444
Investments in joint ventures	40,213	40,872
Property plant and equipment, net	713,356	773,469
Goodwill, net	125,871	122,691
Deferred income taxes	179,989	302,212
Miscellaneous assets	164,701	166,214
Total assets	$2,572,552	$2,807,470
Accounts payable	$90,982	$88,990
Accrued payroll and other related liabilities	91,629	86,772
Unexpired subscriptions	58,007	57,336
Accrued expenses	107,755	118,753
Accrued incomes taxes	138	38,932
Liabilities held for sale	0	32,373
Total current liabilities	348,511	423,156
Long-term debt and capital lease obligations	684,142	696,752
Pension benefits obligation	444,328	737,889
Postretirement benefits obligation	90,602	110,347
Other	158,435	173,690
Total other liabilities	1,377,507	1,718,678
Stockholders? equity
Common stock of $0.10 par value:
Class A common stock	15,129	15,027
Class B convertible	82	82
Additional paid-in capital	33,045	25,610
Retained earnings	1,283,518	1,230,450
Common stock held in treasury, at cost	-86,253	-96,278
Accumulated other comprehensive income loss), net of tax	-402,611	-512,566
Total New York Times Company stockholders? equity	842,910	662,325
Noncontrolling interest	3,624	3,311
Total stockholders? equity	846,534	665,636
Total liabilities and stockholders? equity	$2,572,552	$2,807,470

Compute return on net operating assets (RNOA) for 2013 and 2012. Net operating assets are $412,630 thousand in 2011. The New York Times Company Consolidated Statements of Income Fiscal year ended Dec. 29, 2013 Dec. 30, 2012 $824,277 666,687 86,266 1,577,230 $795,037 711,829 88,475 1,595,341 92,886 332,085 106,381 331,321 Other 201,942 213,616 Total production costs 626,913 651,318 706,354 711,112 78,477 78,980 1,411,744 1,441,410 3,228 47,657 6,171 0 0 2,620 156,087 0 0 -3,215 0 103,654 220,275 5,500 2,936 0 58,073 62,808 94,799 258,557 37,892 94,617 56,907 163,940 (in thousands) Operating revenues Circulation Advertising Other Total revenues Production Costs Raw materials Wages and benefits Selling, general and administrative expenses Depreciation and amortization Total operating costs Pension settlement expense Multiemployer pension plan withdrawal expense Other expense Operating profit Gain on sale of investments Impairment of investments (Loss)/income from joint ventures Premium on debt redemption Interest expense, net Income from continuing operations before income taxes Income tax expense Income from continuing operations Discontinued operations: (Loss) from discontinued operations, net of tax Gain on sale, net of tax -20,413 -113,447 28,362 85,520 Income/(loss) from discontinued operations, net of tax Net income/(loss) Net (income)/loss attributable to the noncontrolling interest 7,949 -27,927 64,856 136,013 249 -166 Net income/(loss) attributable to New York Times Company common stockholders 65,105 135,847 The New York Times Company Consolidated Balance Sheets As of (in thousands) Cash and cash equivalents Dec. 29, 2013 Dec. 30, 2012 $482,745 $820,490 364,880 202,303 65,859 134,820 197,589 58,214 Prepaid assets 20,250 23,085 Other current assets 36,230 26,320 0 137,050 1,172,267 1,397,568 Long-term marketable securities Investments in joint ventures 176,155 40,213 4,444 40,872 Property plant and equipment, net 713,356 773,469 Goodwill, net Deferred income taxes 125,871 179,989 122,691 302,212 Miscellaneous assets 164,701 166,214 $2,807,47 0 Short-term investments Accounts receivable, net Deferred income taxes Assets held for sale Total current assets Total assets Accounts payable Accrued payroll and other related liabilities Unexpired subscriptions Accrued expenses Accrued incomes taxes $2,572,552 $90,982 $88,990 91,629 86,772 58,007 107,755 138 57,336 118,753 38,932 0 32,373 Total current liabilities 348,511 423,156 Long-term debt and capital lease obligations 684,142 696,752 Liabilities held for sale Pension benefits obligation Postretirement benefits obligation 444,328 90,602 737,889 110,347 Other 158,435 173,690 1,377,507 1,718,678 15,129 82 33,045 1,283,518 15,027 82 25,610 1,230,450 -86,253 -96,278 -402,611 -512,566 842,910 662,325 3,624 3,311 846,534 665,636 $2,807,47 0 Total other liabilities Stockholders' equity Common stock of $0.10 par value: Class A common stock Class B convertible Additional paid-in capital Retained earnings Common stock held in treasury, at cost Accumulated other comprehensive income loss), net of tax Total New York Times Company stockholders' equity Noncontrolling interest Total stockholders' equity Total liabilities and stockholders' equity $2,572,552