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Acquisitions and Dispositions
12 Months Ended
Dec. 31, 2011
Acquisitions And Dispositions [Abstract]  
Acquisitions and Dispositions [Text Block]

7. ACQUISITIONS AND DISPOSITIONS

The Company completed business acquisitions totaling approximately $136.5 million, $14.1 million and $26.1 million, in 2011, 2010 and 2009, respectively. The assets and liabilities of the companies acquired have been recorded at their estimated fair values at the date of acquisition

During 2011, the Company completed five business acquisitions totaling approximately $136.5 million, including assumed debt of $5.5 million and other assumed liabilities. Kaplan acquired three businesses in its Kaplan International division, one business in its KHE division, and one business in its Kaplan Ventures division. These included the May 2011 acquisitions of Franklyn Scholar and Carrick Education Group, leading national providers of vocational training and higher education in Australia, and the June 2011 acquisition of Structuralia, a provider of e-learning for the engineering and infrastructure sector in Spain. The purchase price allocations mostly comprised goodwill, other intangible assets, and property, plant and equipment.

 

Kaplan completed the sales of KVE in July 2011 and KCS in October 2011, which were part of Kaplan Ventures and KHE, respectively. In April 2010, Kaplan completed the sale of Education Connection, which was part of Kaplan Ventures. Consequently, the Company's income from continuing operations excludes results from these businesses, which have been reclassified to discontinued operations (see Note 3).

During 2010, the Company acquired six businesses for $14.1 million. Kaplan acquired two small businesses in its KTP division, one small business in its Ventures division and one small business in its International division. The Company made two small acquisitions in its cable television and other businesses divisions. The purchase price allocations for these acquisitions mostly comprised goodwill and other intangible assets.

 

In September 2010, the Company completed the sale of Newsweek. In December 2009, the Company completed the sale of Newsweek's Budget Travel. Consequently, the Company's income from continuing operations excludes magazine publishing division results, which have been reclassified to discontinued operations (see Note 3).

During 2009, the Company acquired three businesses for $26.1 million. Kaplan acquired one business in each of its International and KTP divisions, and the newspaper publishing division acquired a small local publication. The purchase price allocations for these acquisitions mostly comprised goodwill and other intangible assets. Also in 2009, the Company recorded $3.2 million of additional purchase consideration in connection with the achievement of certain operating results by a company acquired in 2007 and allocated the additional purchase consideration to goodwill.