RESULTS OF OPERATIONS Overview Fiscal years 2014 and 2013 each comprise 52 weeks and fiscal year 2012 comprises 53 weeks. The effect of the  53rd week (“additional week”) on revenues and operating costs is discussed below. The following table presents our  consolidated financial results: * Represents an increase or decrease in excess of 100%. THE NEW YORK TIMES COMPANY – P. 27 Years Ended % Change (In thousands) December 28, 2014 December 29, 2013 December 30, 2012 14-13 13-12 (52 weeks) (52 weeks) (53 weeks) Revenues Circulation $ 836,822 $ 824,277 $ 795,037 1.5 3.7 Advertising 662,315 666,687 711,829 (0.7) (6.3) Other 89,391 86,266 88,475 3.6 (2.5) Total revenues 1,588,528 1,577,230 1,595,341 0.7 (1.1) Operating costs Production costs: Raw materials 88,958 92,886 106,381 (4.2) (12.7) Wages and benefits 357,573 332,085 331,321 7.7 0.2 Other 197,464 201,942 213,616 (2.2) (5.5) Total production costs 643,995 626,913 651,318 2.7 (3.7) Selling, general and administrative costs 761,055 706,354 711,112 7.7 (0.7) Depreciation and amortization 79,455 78,477 78,980 1.2 (0.6) Total operating costs 1,484,505 1,411,744 1,441,410 5.2 (2.1) Early termination charge 2,550 GLYPH<151> GLYPH<151> 100.0 GLYPH<151> Pension settlement charge 9,525 3,228 47,657 * (93.2) Multiemployer pension plan withdrawal expense GLYPH<151> 6,171 GLYPH<151> (100.0) 100.0 Other expense GLYPH<151> GLYPH<151> 2,620 GLYPH<151> (100.0) Operating profit 91,948 156,087 103,654 (41.1) 50.6 Gain on sale of investments GLYPH<151> GLYPH<151> 220,275 GLYPH<151> (100.0) Impairment of investments GLYPH<151> GLYPH<151> 5,500 GLYPH<151> (100.0) (Loss)/income from joint ventures (8,368) (3,215) 2,936 * * Interest expense, net 53,730 58,073 62,808 (7.5) (7.5) Income from continuing operations before income taxes 29,850 94,799 258,557 (68.5) (63.3) Income tax (benefit)/expense (3,541) 37,892 94,617 * (60.0) Income from continuing operations 33,391 56,907 163,940 (41.3) (65.3) Discontinued operations: Loss from discontinued operations, net of income taxes GLYPH<151> (20,413) (113,447) (100.0) (82.0) (Loss)/gain on sale, net of income taxes (1,086) 28,362 85,520 * (66.8) (Loss)/income from discontinued operations, net of income taxes (1,086) 7,949 (27,927) * * Net income 32,305 64,856 136,013 (50.2) (52.3) Net loss/(income) attributable to the noncontrolling interest 1,002 249 (166) * * Net income attributable to The New York Times Company common stockholders $ 33,307 $ 65,105 $ 135,847 (48.8) (52.1)