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10-Q
GRAHAM HOLDINGS CO filed this Form 10-Q on 11/15/1994
Entire Document
 
<PAGE>   5

                                                                             5.


THE WASHINGTON POST COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


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<CAPTION>
                                                                               THIRTY-NINE WEEKS ENDED  
                                                                          ---------------------------------
                                                                           OCTOBER 2,            OCTOBER 3,
(IN THOUSANDS)                                                               1994                   1993   
                                                                          ----------             ----------
<S>                                                                        <C>                    <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
   NET INCOME                                                              $ 117,521              $ 122,939
   ADJUSTMENTS TO RECONCILE NET INCOME TO NET CASH
      PROVIDED BY OPERATING ACTIVITIES:
   CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING
      PRINCIPLE                                                                  --                 (11,600)
   DEPRECIATION AND AMORTIZATION OF PROPERTY, PLANT
      AND EQUIPMENT                                                           45,733                 44,855
   AMORTIZATION OF GOODWILL AND OTHER INTANGIBLES                             18,103                 12,183
   AMORTIZATION OF PROGRAM RIGHTS                                             15,923                 14,218
   PROVISION FOR DOUBTFUL ACCOUNTS                                            43,563                 42,011
   GAIN ON SALE OF BUSINESS                                                      --                 (13,371)
   INCREASE (DECREASE) IN INTEREST AND INCOME
      TAXES PAYABLE                                                              982                 (5,125)
   PROVISION FOR DEFERRED INCOME TAXES                                        (2,521)                (2,277)
   CHANGE IN ASSETS AND LIABILITIES:
      (INCREASE) IN ACCOUNTS RECEIVABLE                                      (69,171)               (65,829)
      (INCREASE) DECREASE IN INVENTORIES                                      (2,154)                   315
      INCREASE IN ACCOUNTS PAYABLE AND ACCRUED
        LIABILITIES                                                           18,428                  7,287
   OTHER                                                                     (12,637)                (1,722)
                                                                            --------                ------- 

        NET CASH PROVIDED BY OPERATING ACTIVITIES                            173,770                143,884
                                                                            --------                -------

CASH FLOWS FROM INVESTING ACTIVITIES:
   NET PROCEEDS FROM SALE OF BUSINESS                                            --                  64,947
   PURCHASES OF PROPERTY, PLANT AND EQUIPMENT                                (64,862)               (63,978)
   PURCHASES OF MARKETABLE SECURITIES                                        (14,657)              (367,983)
   PROCEEDS FROM SALES OF MARKETABLE SECURITIES                              256,617                407,837
   INVESTMENTS IN CERTAIN BUSINESSES                                        (284,089)                (1,591)
   PAYMENTS FOR PROGRAM RIGHTS                                               (14,819)               (15,708)
   OTHER                                                                         249                    121
                                                                            --------                -------

        NET CASH (USED) PROVIDED BY INVESTING ACTIVITIES                    (121,561)                23,645
                                                                            --------                -------

CASH FLOWS FROM FINANCING ACTIVITIES:
   PRINCIPAL PAYMENTS ON DEBT                                                 (1,400)                   --
   DIVIDENDS PAID                                                            (36,660)               (37,079)
   COMMON SHARES REPURCHASED                                                 (52,679)               (23,133)
   OTHER                                                                       --                        61
                                                                            --------                -------

      NET CASH (USED) BY FINANCING ACTIVITIES                                (90,739)               (60,151)
                                                                            --------                ------- 

NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                         (38,530)               107,378

BEGINNING CASH AND CASH EQUIVALENTS                                          171,512                 86,840
                                                                            --------                -------

ENDING CASH AND CASH EQUIVALENTS                                           $ 132,982              $ 194,218
                                                                            ========                =======
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