ࡱ> ST l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~ ؈ ~~9#܈ ~~8#܈ ~~4#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33MIncome Statement&$CONDENSED CONSOLIDATED STATEMEN&WCONDENSED CONSOLIDATED STAT (1) l  @o$  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CONDENSED CONSOLIDATED STATEMEN!CONDENSED CONSOLIDATED STAT (1)U } U5} m} $ } m} $ } m} $ } m @      MCCLATCHY CO 8-K 11/09/2018Income StatementThe McClatchy Company, $CONDENSED CONSOLIDATED STATEMENTS OF  OPERATIONS2 *(Unaudited; In thousands, except per share amounts)         Quarter EndedNine Months Ended September 30, September 24, September 30, September 24,~ ~ ~ ~ REVENUES - NET: Advertising$ 95,102 $ 115,331 $ 301,942 $ 360,459Audience~ "!~ Q~ ~ b Other~ N~ N~  E~ ~ f ~  ~ ~E$~ 7(OPERATING EXPENSES: Compensation~ v|~ 2~ ~ 4,Newsprint, supplements and printing expenses~ ~ ~ 6v~ %Depreciation and amortization~ )~ 2~ b~ " Other operating expenses~ ~~ ~ ~ gOther asset write-downs~ ~ .~ ~ ¦~ J ~  ~ ^%~ :y'OPERATING INCOME (LOSS)~ ~ H~ "~ DL lwV&fBg_Zs !"#$%&'()*+,-./0123456789:;<=>?(  NON-OPERATING (EXPENSES) INCOME:       !Interest expense~ !:!~ !!~ !S!~ !M"Interest income~ ""~ ""~ ""~ "j.#&Equity income (loss) in unconsolidated~ ##~ ##~ ##~ #"$companies, net)%!Gain on sale of equity investment~ %%~ %%~ %%~ %1&)Impairments related to equity investments~ &&~ &&~ &&~ &.'&Gain (loss) on extinguishment of debt,~ '6'~ 'f'~ ''~ ' (net")Retirement benefit expense~ ))~ ))~ )})~ )d* Other - net~ *"*~ *^*~ **~ *+~ ++~ +U+~ +b+~ +,,,,,,,, -Loss before income taxes~ --~ -Ɲ-~ --~ -&.Income tax provision (benefit)~ ..~ ..~ .2.~ . /NET INCOME (LOSS)/$ 7,038// $ (260,476)// $ (52,268)// $ (393,497)00000000+1#Net income (loss) per common share:1111111 2Basic2$ 0.9022 $ (34.11)22$ (6.74)22 $ (51.67)3Diluted3$ 0.9033 $ (34.11)33$ (6.74)33 $ (51.67)4444444405(Weighted average number of common shares5555555 6used/7'to calculate basic and diluted earnings8 per share: 9Basic~ 9y9~ 9Vw9~ 9*y9~ 9w:Diluted~ :z:~ :Vw:~ :*y:~ :w;<$=____________________________1>)Created by Morningstar Document Research.0?(http://documentresearch.morningstar.com/D^l`A2=uowo:=PF0*8X> @R ??>>==     l  ol32ANEV  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Income Statement!CONDENSED CONSOLIDATED STAT (1)U } =} $ } m} $ } m} $ } m} $ } m o                                  MCCLATCHY CO 8-K 11/09/20186.CONDENSED CONSOLIDATED STATEMENTS OF OPERATION The McClatchy Company3 +Reconciliation of GAAP Measures to Non-GAAP Amounts (In thousands)         .&Reconciliation of Net Income (Loss) toAdjusted EBITDAQuarters EndedNine Months Ended September 30, September 24, September 30, September 24,~ ~ ~ ~ NET INCOME (LOSS)$ 7,038 $ (260,476) $ (52,268) $ (393,497)$Income tax expense (benefit)~ ~ ~ 2~  Interest expense~ l~ f5~ V~ %Depreciation and amortization~ )~ 2~ b~ "EBITDA~ "~ :~ 6~ Severance charges~ ;~ E~ ~ #Non-cash stock compensation~  ~ ~ f~ D l}qeYhC|hX\Ga ! " # $ % & ' ( ) * + , - . / 0 1 2 3 4 5 6 7 8 9 : ; < = > ? - %Non-cash and non-operating retirement ~ j+ ~ 4 ~ > ~ !benefit expense2"*Equity income in unconsolidated companies,"~ "f"~ "b "~ "#"~ "  #net1$)Impairments related to equity investments$~ $$~ $*$~ $$~ $p )%!Gain on sale of equity investment%~ %%~ %%~ %%~ %&&Other asset impairment charges&~ &&~ &.&~ &&~ &¦.'&(Gain) loss on extinguishment of debt,'~ ' '~ ''~ ''~ '2* (net&)Other operating costs, net (1))~ )*)~ )%)~ )")~ )H *Other non-operating, net*~ **~ **~ **~ *+Adjusted EBITDA++$ 19,045++$ 40,133++$ 69,588++ $ 102,261,,,,,,,,,-Adjusted EBITDA Margin- -10.0%- -18.9%- -11.7%- -15.5%.........1/)(1) Other operating costs, net, includes:30+non cash loss on asset sales and relocation11)charges, net; Technology conversion costs 2related to co-sourcing a63.majority of information technology operations;04(costs associated with reorganizing sales75/and other operations; trust related litigation,6hurricane Irma17)costs, and net acquisition costs. See the28*text of the press release for the detailed19)gross and net of tax contribution of each: category.;;;;;;;;;.<&Reconciliation of Net Income (Loss) to=Adjusted Net Loss>>>>>>>>>?NET INCOME (LOSS)??$ 7,038?? $ (260,476)?? $ (52,268)?? $ (393,497)D~ lgLmA2x v iE Ma/@ A B C D E F G H I J K L M N O P Q R S T U V W X Y Z [ \ ] ^ _ @@@@@@@@@AAdd back certain items:AAAAAAAA0B( (Gain) loss on extinguishment of debt,B~ B B~ BB~ BB~ B2* Cnet(D Other asset impairment chargesD~ DD~ D.D~ DD~ D¦3E+ Impairments related to equity investmentsE~ EE~ E*E~ EE~ Ep +F# Gain on sale of equity investmentF~ FF~ FF~ FF~ FG Severance chargesG~ G;G~ GEG~ GG~ G/H' Accelerated depreciation on equipmentH~ HH~ HH~ HH~ H$I Other operating costs, netI~ I*I~ I%I~ I"I~ IH$J Certain discrete tax itemsJ~ JJ~ JJ~ J"QJ~ J'KLess: Tax effect of adjustmentsK~ KyK~ K&K~ K>K~ KnSLAdjusted net loss (2)LL $ (23,774)LL $ (2,565)LL $ (47,344)LL $ (20,918)MMMMMMMMM8N0(2) The tax impact of these non-GAAP adjustments1O)is generally calculated using the federal0P(statutory rate of 21% plus the net stateQ rate for the/R'jurisdictions in which the subsidiaries0S(file tax returns and ranges from 2.1% to/T'10.0%. Note that other asset impairment*U"charges receive a tax rate of 10%.0V(In 2017 the tax impact of these non-GAAP4W,adjustments was calculated using the federal0X(statutory rate of 35% plus the net stateY rate for the/Z'jurisdictions in which the subsidiaries1[)filed tax returns and ranged from 1.6% to \8.1%.]]]]]]]]],^$Reconciliation of Operating Expenses&_to Adjusted Operating ExpensesDI luf3zZwB\.vC` a b c d e f g h i j k l m n `````````aOPERATING EXPENSES:aa $ 210,130aa $ 207,993aa $ 614,679aa $ 646,734b Add back:bbbbbbbb'c Depreciation and amortizationc~ c)c~ c2c~ cbc~ c"(d Other asset impairment chargesd~ dd~ d.d~ dd~ d¦;e3 Severance charges and non-cash stock compensatione~ eGe~ eKe~ ee~ e$f Other operating costs, netf~ f*f~ f%f~ f"f~ fH#gAdjusted operating expensesgg $ 172,020gg $ 172,471gg $ 527,503gg $ 556,675hhhhhhhhhiiiiiiiiijk$l____________________________1m)Created by Morningstar Document Research.0n(http://documentresearch.morningstar.com/":|Us[=PF0*8X> @R*nnmmll__^^\\[[ZZYYXXWWVVUUTTSSRRQQPPOONN==<<::99887766554433221100//     l  XpB  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??Income Statement!CONDENSED CONSOLIDATED STATEMENU } *}  } $ }  } $ } y } $ }  } $ } } $ } y } $ } } $ }  } $ } y X      MCCLATCHY CO 8-K 11/09/20186.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONThe McClatchy Company' Consolidated Statistical Report, $(In thousands, except for preprints)                     Quarter 3  Combined  Print  Digital          Revenues - Net:~ ~ % Change~ ~    % Change ~  ~ % Change Advertising     Retail~ ~ A-20.1%~ Q~  z  -31.4% ~  H~ fU -3.7%National~ ~~  3.7%~ (~  *   -4.2% ~  x~ q 6.7% Classified~ ΁~ F-15.3%~ R~  .  -33.3% ~  ~~  7.1%Direct Marketing~ ~ Jc-23.6%~ ~  Jc  -23.6%  Other Advertising~ ~ -73.8%~ ~    -73.8%  Total Advertising~ ~  -17.5%~ 2~  zx  -28.4% ~  ~  1.4%     ( Memo: Digital-only Advertising    ~  7~ f  8.9%     Audience~ "!~ Q -3.6%~ ~  F   -6.6% ~  ~ V| 4.4% Other~ N~ N 17.7%     Total Revenues~ f ~  -10.1%               Dl}qeY8 ""JPjz !"#$%&'()*+,-./0123456789:;<=>?                  +!#Advertising Statistics for Dailies:!!!!!!!!! ! ! ! ! !!!!"Full Run ROP Linage"""""""33333Z@"" 33333¤@"  " -6.8%" " """"########## # # # # ####)$!Millions of Preprints Distributed$$$$$$$v@$$ 33333C|@$ $ -21.8%$ $ $$$$%%%%%%%%%% % % % % %%%%&&&&&&&&&& & & & & &&&&' Audience:''''''''' ' ' ' ' ''''(( Daily Average Total Circulation*(((((((33333S@((  @(  ( -9.6%( ( (((())!Sunday Average Total Circulation*)))))))fffff^@)) D@) ) -10.3%) ) ))))'*Average Monthly Unique Visitors********* * * * * ffff@**3333#@**-22.7%+Digital Subscriptions+++++++++ + + + ~ + &++333333W@+ +47.6%,,,,,,,,,, , , , , ,,,,---------- - - - - ----.......... . . . . ....////////// / / / / ////0000000000 0 0 0 0 000011September Year-to-Date22Combined2 2Print2 2 Digital3333333333 3 3 3 3 33334444444444 4 4 4 4 44445Revenues - Net:~ 55~ 555% Change5~ 55~ 5 5 5 % Change5 ~ 5 5~ 555% Change6 Advertising666666666 6 6 6 6 66667Retail~ 7657~ 7E 77-20.1%7~ 7"J7~ 7 S7 7 -32.2%7 ~ 7 7~ 77 7-0.7%8National~ 88~ 8V8 810.8%8~ 8&8~ 8 28  8 -8.4%8 ~ 8 m8~ 8&18 819.8%9 Classified~ 99~ 999-13.5%9~ 9!9~ 9 9 9 -31.4%9 ~ 9 9~ 9~9 98.9%:Direct Marketing~ :k:~ :Z::-21.4%:~ :k:~ : Z: : -21.4%: : ::::;Other Advertising~ ;;~ ;;;-45.8%;~ ;;~ ; ; ; -45.8%; ; ;;;;<Total Advertising~ <m<~ <.<<-16.2%<~ <R] <~ < R^< < -27.9%< ~ < <~ <ޡ< <5.7%========== = = = = ====(> Memo: Digital-only Advertising>>>>>>>>> > > > ~ > 6>~ >> >16.7%?????????? ? ? ? ? ????Dl(-1YNvFn@ 4)FKPRVYT|@ABCDEFGHIJKLMNOPQRSTUVW@Audience~ @@~ @b@ @-5.0%@~ @& @~ @  @  @ -7.8%@ ~ @ v@~ @.@ @2.5% AOther~ A EA~ AA A23.9%AAAA A A A A AAAABTotal Revenues~ B~E$B~ B7(B B-9.8%BBBB B B B B BBBBCCCCCCCCCC C C C C CCCCDDDDDDDDDD D D D D DDDDEEEEEEEEEE E E E E EEEE+F#Advertising Statistics for Dailies:FFFFFFFFF F F F F FFFFGFull Run ROP LinageGGGGGGG1@GG @G G -12.6%G G GGGGHHHHHHHHHH H H H H HHHH)I!Millions of Preprints DistributedIIIIIIIfffff@II 33333@I I -20.3%I I IIIIJJJJJJJJJJ J J J J JJJJKKKKKKKKKK K K K K KKKKL Audience:LLLLLLLLL L L L L LLLL(M Daily Average Total Circulation*MMMMMMM@MM 33333W@M M -12.0%M M MMMM)N!Sunday Average Total Circulation*NNNNNN~ NRNN @N N -10.4%N N NNNNOMonthly Unique VisitorsOOOOOOOOO O O O O @O~ OWO O-4.3%PDigital SubscriptionsPPPPPPPPP P P P ~ P &PP333333W@P P47.6%QQQQQQQQQQ Q Q Q Q QQQQ+R#Columns may not add due to roundingRRRRRRRRR R R R R RRRRST$U____________________________1V)Created by Morningstar Document Research.0W(http://documentresearch.morningstar.com/4& 1Y=3,06^cWK#=PF0*8X> @rWWVVUU2222 22 11       Root Entry FBook    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQR