63 QUARTERLY STATEMENTS OF INCOME In thousands of dollars Fiscal year ended December 31, 2000 1st Quarter  2nd Quarter  3rd Quarter  4th Quarter  Total Net operating revenues Newspaper advertising $ 830,250 $ 911,949 $1,004,280 $1,226,457 $3,972,936 Newspaper circulation 254,146 251,524 286,890 328,431 1,120,991 Broadcasting 166,789 205,413 183,352 233,213 788,767 All other 70,135 78,921 83,998 106,570 339,624 Total 1,321,320 1,447,807 1,558,520 1,894,671 6,222,318 Operating expenses Cost of sales and operating expenses, exclusive of depreciation  667,486 683,084 788,209 918,473 3,057,252 Selling, general and administrative expenses, exclusive of depreciation 215,942 227,593 245,735 282,625 971,895 Depreciation 46,608 47,070 51,509 50,241 195,428 Amortization of intangible assets 33,766 35,379 52,082 59,260 180,487 Total 963,802 993,126 1,137,535 1,310,599 4,405,062 Operating income  357,518 454,681 420,985 584,072 1,817,256 Non-operating (expense) income  Interest expense (20,175) (22,666) (75,962) (100,425) (219,228) Other (1,326) 7,947 (260) 4,451 10,812 Total (21,501) (14,719) (76,222) (95,974) (208,416) Income before income taxes 336,017 439,962 344,763 488,098 1,608,840 Provision for income taxes  133,000 174,200 136,500 193,200 636,900 Income from continuing operations 203,017 265,762 208,263 294,898 971,940 Discontinued operations Income from discontinued operations, net 2,437 2,437 Gain on sale of cable business, net of tax 744,700 744,700 Net income $ 950,154 $ 265,762 $ 208,263 $ 294,898 $1,719,077  Basic earnings per share Basic earnings from continuing operations (1) $.74 $1.01 $.79 $1.12 $3.65  Basic earnings from discontinued operations: Discontinued operations, net of tax .01 .01 Gain on sale of cable business, net of tax (1) 2.72 2.79 Net income per share – basic (1) $3.47 $1.01 $.79 $1.12 $6.45  Diluted earnings per share Diluted earnings from continuing operations (1) $.74 $1.00 $.79 $1.11 $3.63  Diluted earnings from discontinued operations: Discontinued operations, net of tax .01 .01 Gain on sale of cable business, net of tax (1) 2.69 2.77 Net income per share – diluted (1) $3.44 $1.00 $.79 $1.11 $6.41  (1) As a result of rounding and share repurchases made during the year, the total of the four quarters’ earnings per share does not equal the earnings per share for the year.