XML 47 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business Segments (Tables)
 6 Months Ended
Jun. 30, 2018
Segment Reporting Information [Line Items]  
Summary of Segment Reporting Information, by Operating Segment
The following table summarizes the financial information related to each of the Company’s business segments:
  
Three Months Ended
 
Six months ended
 
June 30
 
June 30
(in thousands)
2018
 
2017
 
2018
 
2017
Operating Revenues
 
 
 
 
  
 
  
Education
$
370,005

 
$
386,499

 
$
745,504

 
$
759,396

Television broadcasting
114,086

 
106,102

 
222,888

 
197,598

Healthcare
38,208

 
38,220

 
75,829

 
75,119

Other businesses
150,399

 
145,266

 
287,937

 
226,691

Corporate office
—

 
—

 
—

 
—

Intersegment elimination
(21
)
 
—

 
(45
)
 
—

  
$
672,677

 
$
676,087

 
$
1,332,113

 
$
1,258,804

Income (Loss) from Operations
 
 
 
 
 
 
 
Education
$
37,554

 
$
33,331

 
$
60,254

 
$
42,768

Television broadcasting
41,118

 
39,777

 
81,660

 
66,260

Healthcare
764

 
384

 
(627
)
 
(542
)
Other businesses
(1,054
)
 
(9,302
)
 
(4,749
)
 
(18,940
)
Corporate office
(12,756
)
 
(14,449
)
 
(26,698
)
 
(29,552
)
  
$
65,626

 
$
49,741

 
$
109,840

 
$
59,994

Equity in Earnings (Losses) of Affiliates, Net
931

 
1,331

 
3,510

 
1,980

Interest Expense, Net
(15,264
)
 
(7,862
)
 
(21,963
)
 
(14,628
)
Debt Extinguishment Costs
(11,378
)
 
—

 
(11,378
)
 
—

Non-Operating Pension and Postretirement Benefit Income, Net
23,041

 
18,620

 
44,427

 
37,421

Loss on Marketable Equity Securities, Net
(2,554
)
 
—

 
(16,656
)
 
—

Other Income, Net
2,333

 
4,069

 
11,520

 
4,918

Income Before Income Taxes
$
62,735

 
$
65,899

 
$
119,300

 
$
89,685

Depreciation of Property, Plant and Equipment
 
 
 
 
 
 
 
Education
$
6,839

 
$
8,325

 
$
14,445

 
$
16,909

Television broadcasting
2,974

 
2,991

 
6,045

 
5,585

Healthcare
647

 
1,194

 
1,300

 
2,263

Other businesses
2,906

 
3,070

 
5,965

 
5,185

Corporate office
253

 
291

 
506

 
581

  
$
13,619

 
$
15,871

 
$
28,261

 
$
30,523

Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets
 
 
 
 
  

 
 
Education
$
1,663

 
$
1,323

 
$
2,812

 
$
2,443

Television broadcasting
1,408

 
970

 
2,816

 
1,872

Healthcare
1,809

 
1,644

 
3,617

 
3,298

Other businesses
6,519

 
15,818

 
12,538

 
18,978

Corporate office
—

 
—

 
—

 
—

  
$
11,399

 
$
19,755

 
$
21,783

 
$
26,591

Pension Expense
 
 
 
 
  

 
 
Education
$
1,878

 
$
2,153

 
$
4,542

 
$
4,859

Television broadcasting
601

 
479

 
1,094

 
972

Healthcare
165

 
166

 
287

 
332

Other businesses
378

 
249

 
667

 
566

Corporate office
1,295

 
1,544

 
2,667

 
2,776

  
$
4,317

 
$
4,591

 
$
9,257

 
$
9,505

Asset information for the Company’s business segments are as follows:
  
As of
(in thousands)
June 30, 2018
 
December 31, 2017
Identifiable Assets
  
 
  
Education
$
1,543,166

 
$
1,592,097

Television broadcasting
454,180

 
455,884

Healthcare
119,231

 
129,856

Other businesses
790,735

 
855,399

Corporate office
146,645

 
182,905

  
$
3,053,957

 
$
3,216,141

Marketable Equity Securities
452,917

 
536,315

Investments in Affiliates
133,550

 
128,590

Prepaid Pension Cost
1,090,509

 
1,056,777

Total Assets
$
4,730,933

 
$
4,937,823
Education [Member]  
Segment Reporting Information [Line Items]  
Summary of Segment Reporting Information, by Operating Segment
  
Three Months Ended
 
Six months ended
  
June 30
 
June 30
(in thousands)
2018
 
2017
 
2018
 
2017
Operating Revenues
  
 
  
 
  
 
 
Kaplan international
$
184,303

 
$
171,747

 
$
367,885

 
$
336,309

Higher education
85,981

 
111,840

 
185,811

 
222,951

Test preparation
68,604

 
75,730

 
127,755

 
140,298

Professional (U.S.)
31,057

 
27,364

 
64,413

 
60,563

Kaplan corporate and other
442

 
57

 
727

 
71

Intersegment elimination
(382
)
 
(239
)
 
(1,087
)
 
(796
)
  
$
370,005

 
$
386,499

 
$
745,504

 
$
759,396

Income (Loss) from Operations
 
 
  

 
  

 
  

Kaplan international
$
24,187

 
$
15,954

 
$
44,591

 
$
23,661

Higher education
11,219

 
13,140

 
12,574

 
15,586

Test preparation
6,120

 
5,741

 
6,641

 
2,877

Professional (U.S.)
4,780

 
4,571

 
14,095

 
14,729

Kaplan corporate and other
(8,763
)
 
(6,045
)
 
(17,658
)
 
(14,108
)
Intersegment elimination
11

 
(30
)
 
11

 
23

  
$
37,554

 
$
33,331

 
$
60,254

 
$
42,768

Depreciation of Property, Plant and Equipment
  

 
  

 
  

 
  

Kaplan international
$
3,764

 
$
3,609

 
$
7,738

 
$
7,291

Higher education
1,274

 
2,484

 
3,132

 
5,132

Test preparation
973

 
1,332

 
1,951

 
2,673

Professional (U.S.)
670

 
765

 
1,312

 
1,548

Kaplan corporate and other
158

 
135

 
312

 
265

  
$
6,839

 
$
8,325

 
$
14,445

 
$
16,909

Amortization of Intangible Assets
$
1,663

 
$
1,323

 
$
2,812

 
$
2,443

Pension Expense
  

 
  

 
  

 
  

Kaplan international
$
84

 
$
87

 
$
167

 
$
174

Higher education
804

 
1,742

 
2,210

 
3,484

Test preparation
729

 
911

 
1,458

 
1,822

Professional (U.S.)
290

 
302

 
580

 
604

Kaplan corporate and other
(29
)
 
(889
)
 
127

 
(1,225
)
  
$
1,878

 
$
2,153

 
$
4,542

 
$
4,859

Asset information for the Company’s education division is as follows:
  
As of
(in thousands)
June 30, 2018
 
December 31, 2017
Identifiable assets
  
 
  
Kaplan international
$
1,049,790

 
$
1,115,919

Higher education
224,272

 
231,986

Test preparation
132,067

 
130,938

Professional (U.S.)
121,711

 
91,630

Kaplan corporate and other
15,326

 
21,624

  
$
1,543,166

 
$
1,592,097