Restructuring related compensation

1. Reconciliation of GAAP Measures to Non-GAAP Amounts Reconciliation of Operating Income to Operating Cash Flows(in thousands) Three Months Ended March 25, 2012 March 27, 2011 REVENUES – NET: $ 209,764 $ 225,113 Advertising 66,167 66,403 Circulation 12,134 Other 12,454 288,301 303,734 OPERATING EXPENSES: 119,808 111,478 Compensation excluding restructuring charges 35,376 34,339 Newsprint and supplements 82,013 81,709 Other cash operating expenses 237,197 227,526 Cash operating expenses excluding restructuring charges Restructuring related compensation 1,171 4,549 Restructuring charges 888 - Impairments charges related to asset sales 10,302 - Depreciation and amortization 31,231 30,741 Total operating expenses 283,279 260,326 OPERATING INCOME 27,975 20,455 Add back: Depreciation and amortization 30,741 31,231 Restructuring related compensation charges 1,171 4,549 Restructuring charges 888 - Impairment charges related to asset sales 10,302 - OPERATING CASH FLOW $ 66,537 $ 60,775 OPERATING CASH FLOW MARGIN 21.1% 21.9% The company believes operating cash flow is commonly used as a measure of performance for newspaper companies, however, it does not purport to represent cash provided by operating activities as shown in the company’s statement of cash flows, nor is it meant as a substitute for measures of performance prepared in accordance with generally accepted accounting principles.