The results of operations for the New England Media Group, About Group and the Regional Media Group  presented as discontinued operations are summarized below for 2012. Goodwill is not amortized but tested for impairment annually or in an interim period if certain circumstances  indicate a possible impairment may exist. Our policy is to perform our annual goodwill impairment test in the fourth  quarter of our fiscal year. However, due to certain impairment indicators at the About Group, we performed an  interim impairment test as of June 24, 2012. The interim impairment test resulted in a $194.7 million non-cash charge  in the second quarter of 2012 for the impairment of goodwill at the About Group. The impairment charge reduced the  carrying value of goodwill to its fair value. See Note 8 for information regarding the fair value of goodwill and the  related impairment charge. Basic earnings/(loss) per share is calculated by dividing net earnings/(loss) available to common stockholders  by the weighted-average common stock outstanding. Diluted earnings/(loss) per share is calculated similarly, except  that it includes the dilutive effect of the assumed exercise of securities, including outstanding warrants and the effect  of shares issuable under our Company’s stock-based incentive plans if such effect is dilutive. The two-class method is an earnings allocation method for computing earnings/(loss) per share when a  company’s capital structure includes either two or more classes of common stock or common stock and participating  securities. This method determines earnings/(loss) per share based on dividends declared on common stock and  participating securities (i.e., distributed earnings), as well as participation rights of participating securities in any  undistributed earnings.  Year Ended December 30, 2012 (In thousands) New England Media Group About Group Regional Media Group Total Revenues $ 394,739 $ 74,970 $ 6,115 $ 475,824 Total operating costs 385,527 51,140 8,017 444,684 Impairment of assets (1) GLYPH<151> 194,732 GLYPH<151> 194,732 Income from joint ventures 68 GLYPH<151> GLYPH<151> 68 Interest expense, net 7 GLYPH<151> GLYPH<151> 7 Pre-tax income/(loss) 9,273 (170,902) (1,902) (163,531) Income tax expense/(benefit) 10,717 (60,065) (736) (50,084) Loss from discontinued operations, net of income taxes (1,444) (110,837) (1,166) (113,447) Gain/(loss) on sale, net of income taxes: Gain/(loss) on sale GLYPH<151> 96,675 (5,441) 91,234 Income tax expense/(benefit) (2) GLYPH<151> 34,785 (29,071) 5,714 Gain on sale, net of income taxes GLYPH<151> 61,890 23,630 85,520 (Loss)/income from discontinued operations, net of income taxes $ (1,444) $ (48,947) $ 22,464 $ (27,927) (1)  Included in impairment of assets in 2012 is the impairment of goodwill related to the About Group.  (2)  The income tax benefit for the Regional Media Group in 2012 included a tax deduction for goodwill, which was previously nondeductible,  triggered upon the sale of the Regional Media Group. 14. Earnings/(Loss) Per Share P. 96 – THE NEW YORK TIMES COMPANY