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SEC Filings

10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 11/15/1995
Entire Document
 
<PAGE>   5
                                                                              5.


The Washington Post Company
Consolidated Statements of Cash Flows (Unaudited)

<TABLE>
<CAPTION>
                                                                                       Thirty-nine Weeks Ended  
                                                                                  --------------------------------
                                                                                  October 1,            October 2,
(In thousands)                                                                      1995                  1994*  
                                                                                  ----------            ----------
<S>                                                                                 <C>                  <C>
Cash flows from operating activities:
   Net income                                                                       $137,205             $117,521
   Adjustments to reconcile net income to net cash
      provided by operating activities:
   Depreciation and amortization of property, plant
      and equipment                                                                   49,123               45,733
   Amortization of goodwill and other intangibles                                     24,944               18,103
   Amortization of program rights                                                     17,951               15,923
   Provision for doubtful accounts                                                    40,794               43,563
   Gain on disposition of businesses, net                                             (1,341)                 --
   Increase in income taxes payable                                                    1,207                2,286
   Provision for deferred income taxes                                                (8,727)              (2,521)
   Change in assets and liabilities:
      (Increase) in accounts receivable                                              (52,642)             (69,171)
      (Increase) in inventories                                                      (11,314)              (2,154)
      Increase in accounts payable and accrued
         liabilities                                                                  17,628               17,131
      Other                                                                          (25,299)             (12,644)
                                                                                     -------              ------- 
         Net cash provided by operating activities                                   189,529              173,770
                                                                                     -------              -------

Cash flows from investing activities:
   Proceeds from sale of business                                                     32,743                  --
   Purchases of property, plant and equipment                                       (106,311)             (64,862)
   Purchases of marketable securities                                                (51,116)             (14,657)
   Proceeds from sales of marketable securities                                       67,453              256,617
   Investments in certain businesses                                                  (1,568)            (284,089)
   Payments for program rights                                                       (15,483)             (14,819)
   Other                                                                                 116                  249
                                                                                     -------              -------

      Net cash (used) by investing activities                                        (74,166)            (121,561)
                                                                                     -------             -------- 

Cash flows from financing activities:
   Principal payments on debt                                                            --                (1,400)
   Dividends paid                                                                    (36,783)             (36,660)
   Common shares repurchased                                                         (89,584)             (52,679)
                                                                                     -------              ------- 

      Net cash (used) by financing activities                                       (126,367)             (90,739)
                                                                                     -------              -------

Net (decrease) in cash and cash equivalents                                          (11,004)             (38,530)

Beginning cash and cash equivalents                                                  117,269              171,512
                                                                                     -------              -------

Ending cash and cash equivalents                                                    $106,265             $132,982
                                                                                     =======              =======
</TABLE>






*Certain amounts in 1994 have been reclassified to conform with 1995
 presentation.