Question
Income statements and balance sheets follow for The New York Times Company. Refer to these financial statements to answer the requirements. The New York Times
Income statements and balance sheets follow for The New York Times Company. Refer to these financial statements to answer the requirements.
The New York Times Company Consolidated Statements of Income | ||
Fiscal year ended | ||
(in thousands) | Dec. 29, 2016 | Dec. 30, 2015 |
Revenues | ||
Circulation | $ 880,543 | $ 851,790 |
Advertising | 580,732 | 638,709 |
Other | 94,067 | 88,716 |
Total revenues | 1,555,342 | 1,579,215 |
Production costs | ||
Wages and benefits | 363,051 | 354,516 |
Raw materials | 72,325 | 77,176 |
Other | 192,728 | 186,120 |
Total production costs | 628,104 | 617,812 |
Selling, general and administrative costs | 721,083 | 713,837 |
Depreciation and amortization | 61,723 | 61,597 |
Total operating costs | 1,410,910 | 1,393,246 |
Restructuring charge | 14,804 | 0 |
Multiemployer pension plan withdrawal expense | 6,730 | 9,055 |
Pension settlement charges | 21,294 | 40,329 |
Early termination charge | 0 | 0 |
Operating profit | 101,604 | 136,585 |
Loss from joint ventures | (36,273) | (783) |
Interest expense, net | 34,805 | 39,050 |
Income from continuing operations before income taxes | 30,526 | 96,752 |
Income tax expense/(benefit) | 4,421 | 33,910 |
Income from continuing operations | 26,105 | 62,842 |
Loss from discontinued operations, net of income taxes | (2,273) | 0 |
Net income | 23,832 | 62,842 |
Net loss attributable to the noncontrolling interest | 5,236 | 404 |
Net income attributable to The New York Times Company common stockholders | $29,068 | $63,246 |
a. Compute net operating profit after tax (NOPAT) for 2016 and 2015. Assume that combined federal and state statutory tax rates are 37% for both years.
I am trying to compute the NOPAT for years 2015 and 2016.
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