Annual Report Index

ASSETS

December 28,
1997

December 29,
1996

Current assets:

Cash and cash equivalents

$3,504

$4,471

Accounts receivable (less allowance for doubtful accounts 1997 - $6,653; 1996 - $5,271)

109,287

81,513

Inventories

17,594

16,329

Other

32,268

25,905

....Total current assets

162,653

128,218

Investments in unconsolidated affiliates

132,209

113,872

Other assets

28,519

23,564

Property, plant and equipment, at cost:

Land

30,190

22,711

Buildings

158,775

151,834

Machinery and equipment

877,992

811,388

Construction in progress

16,245

11,642

Accumulated depreciation

(578,296)

(527,597)

....Net property, plant and equipment

504,906

469,978

Excess of cost over fair value of net identifiable assets of acquired businesses (less accumulated amortization 1997 - $24,732; 1996 - $16,091)

572,458

274,923

FCC licenses and other intangibles (less accumulated amortization 1997 - $18,601; 1996 - $2,518)

413,456

14,929

Total assets

$1,814,201

$1,025,484

LIABILITIES AND STOCKHOLDERS' EQUITY

December 28,
1997

December 29,
1996

Current liabilities:

Accounts payable

$31,599

$30,154

Accrued expenses and other liabilities

98,190

72,310

Income taxes payable

1,422

1,381

Short-term borrowings

—

11,000

....Total current liabilities

131,211

114,845

Long-term debt

900,000

265,000

Deferred income taxes

249,649

102,055

Other liabilities and deferred credits

115,115

106,344

Commitments and contingencies (Notes 10 and 11)

Stockholders' equity:

Preferred stock ($5 cumulative convertible), par value $5 per share:

....Authorized 5,000,000 shares; none outstanding

Common stock, par value $5 per share:

....Class A, authorized 75,000,000,000 shares; issued 26,172,424 and 25,950,287 shares

130,862

129,751

....Class B, authorized 600,000 shares; issued 556,574 shares

2,783

2,783

Additional paid-capital

16,733

11,393

Unearned compensation

(2,100)

(1,254)

Retained earnings

269,948

294,567

....Total stockholders' equity

418,226

437,240

Total liabilities and stockholders' equity

$1,814,201

$1,025,484