Tribune Publishing Co (TPCO) [Rocket]

In millions, except per share items	Dec-29-19	Dec-30-18	Dec-31-17	Dec-25-16	Dec-27-15	Dec-28-14	Dec-29-13	Dec-31-12
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Corporate and Eliminations	17.9	14.0
troncM					1,448.2	1,473.5
troncX					233.5	242.0
Other	965.2	1,016.7
Total revenues [+]	983.1	1,030.7	1,015.5	1,063.4	1,672.8	1,708.0	1,795.1
Subscription							428.6
Advertising							1,068.9
Other							297.6
Revenue growth [+]	-4.6%	1.5%	-4.5%	-36.4%	-2.1%	-4.9%
Corporate and Eliminations	28.2%
troncM					-1.7%
troncX					-3.5%
Cost of goods sold [+]	362.5	443.1	406.3	443.7	772.2	596.4	1,128.6
Labor costs					649.9		597.9
Other direct costs							530.8
Gross profit	620.7	587.6	609.2	619.6	900.6	1,111.6	666.5
Gross margin	63.1%	57.0%	60.0%	58.3%	53.8%	65.1%	37.1%
Selling, general and administrative	556.8	567.7	541.0	574.0	875.6	32.1	28.4
Equity in earnings	-3.0	1.9	2.7	1.5	-1.2	1.2	-1.2
Other operating expenses	-5.0	11.0	11.9	11.2	-54.6	960.7	443.1
Adjusted EBITDA	79.1	21.2	68.2	43.5	85.3	123.7	193.8
Adjusted EBITDA margin	8.1%	2.1%	6.7%	4.1%	5.1%	7.2%	10.8%
Stock-based compensation	13.2	10.5	9.3	7.6	6.8	3.7
EBITDA [+]	66.0	10.8	59.0	36.0	78.4	120.0	193.8
EBITDA growth	511.5%	-81.7%	64.0%	-54.2%	-34.6%	-38.1%
EBITDA margin	6.7%	1.0%	5.8%	3.4%	4.7%	7.0%	10.8%
Depreciation	47.3	53.3	47.3	51.4	54.6	32.1	21.9
EBITA	18.7	-42.5	11.7	-15.4	23.8	87.9	171.9
EBITA margin	1.9%	-4.1%	1.1%	-1.4%	1.4%	5.1%	9.6%
Amortization of intangibles							6.6
EBIT [+]	18.7	-42.5	11.7	-15.4	23.8	87.9	165.3
EBIT growth	-143.9%	-464.4%	-175.6%	-164.7%	-72.9%	-46.8%
EBIT margin	1.9%	-4.1%	1.1%	-1.4%	1.4%	5.1%	9.2%
Non-recurring items	14.5	1.9
Interest expense, net [+]	-0.5	11.4	26.3	26.6	22.9	9.8	0.0
Interest expense		11.4	26.3	26.6	22.9	9.8
Interest income	0.5						0.0
Other income (expense), net [+]	0.0	3.1	-7.9	-3.0	-4.1	-1.3	-0.3
Reorganization items				-0.3	-1.0	-0.5	-0.3
Gain (loss) on investments	-3.0	-1.9	-2.7
Extraordinary gain						1.5
Other	0.0	14.5	3.5	0.3
Pre-tax income	4.7	-52.6	-22.6	-44.9	-3.2	76.7	165.1
Income taxes	1.6	-12.7	7.2	-9.6	-0.4	34.5	71.0
Tax rate	34.4%	24.2%		21.3%	13.5%	44.9%	43.0%
Earnings from continuing ops	6.2	-39.9	-59.6	-70.7	-2.8	42.3	94.1
Earnings from discontinued ops	-3.3	289.5	35.3	41.9
Net income	2.8	249.6	-24.3	-28.8	-2.8	42.3	94.1
Net margin	0.3%	24.2%	-2.4%	-2.7%	-0.2%	2.5%	5.2%

Basic EPS [+]	$172.75	($1.13)	($1.75)	($2.09)	($0.11)	$1.66	$3.70
Growth	-15383.3%	-35.6%	-16.2%	1867.6%	-106.4%	-55.1%
Diluted EPS [+]	$172.75	($1.13)	($1.75)	($2.09)	($0.11)	$1.66	$3.70
Growth	-15383.3%	-35.6%	-16.2%	1867.6%	-106.4%	-55.3%

Dividends per share [+]	$1,755.38		$0.00	$0.14	$0.70	$0.18
Growth		-100.0%	-96.9%	-79.4%	300.0%

Shares outstanding (basic) [+]	0.0	35.3	34.0	33.8	26.0	25.4	25.4
Growth	-99.9%	3.7%	0.6%	30.0%	2.2%	0.0%
Shares outstanding (diluted) [+]	0.0	35.3	34.0	33.8	26.0	25.5	25.4
Growth	-99.9%	3.7%	0.6%	30.0%	1.7%	0.5%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.