XML 60 R45.htm IDEA: XBRL DOCUMENT v3.10.0.1
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2018
Segment Reporting Information [Line Items]  
Summary of Segment Reporting Information, by Operating Segment
Company information broken down by operating segment and education division:
 
Year Ended December 31
(in thousands)
2018
 
2017
 
2016
Operating Revenues
 
 
 
 
 
Education
$
1,451,015

 
$
1,516,776

 
$
1,598,461

Television broadcasting
505,549

 
409,916

 
409,718

Healthcare
149,275

 
154,202

 
146,962

Other businesses
590,227

 
511,003

 
326,888

Corporate office
—

 
—

 
—

Intersegment elimination
(100
)
 
(51
)
 
(139
)
 
$
2,695,966

 
$
2,591,846

 
$
2,481,890

Income (Loss) from Operations
 
 
 
 
 
Education
$
97,136

 
$
77,687

 
$
95,321

Television broadcasting
210,533

 
139,258

 
202,863

Healthcare
(8,401
)
 
(2,569
)
 
2,799

Other businesses
(246
)
 
(19,263
)
 
(24,901
)
Corporate office
(52,861
)
 
(58,710
)
 
(53,213
)
 
$
246,161

 
$
136,403

 
$
222,869

Equity in Earnings (Losses) of Affiliates, Net
14,473

 
(3,249
)
 
(7,937
)
Interest Expense, Net
(32,549
)
 
(27,305
)
 
(32,297
)
Debt Extinguishment Costs
(11,378
)
 
—

 
—

Non-Operating Pension and Postretirement Benefit Income, Net
120,541

 
72,699

 
80,665

Loss on Marketable Equity Securities, net
(15,843
)
 
—

 
—

Other Income (Expense), Net
2,103

 
4,241

 
(12,642
)
Income Before Income Taxes
$
323,508

 
$
182,789

 
$
250,658

Depreciation of Property, Plant and Equipment
 
 
 
 
 
Education
$
28,099

 
$
32,906

 
$
41,187

Television broadcasting
13,204

 
12,179

 
9,942

Healthcare
2,577

 
4,583

 
2,805

Other businesses
11,835

 
11,723

 
9,570

Corporate office
1,007

 
1,118

 
1,116

 
$
56,722

 
$
62,509

 
$
64,620

Amortization of Intangible Assets and Impairment of Goodwill and
 
 
 
 
 
Other Long-Lived Assets 
 
 
 
 
 
Education
$
9,362

 
$
5,162

 
$
7,516

Television broadcasting
5,632

 
6,349

 
251

Healthcare
14,855

 
7,905

 
6,701

Other businesses
25,674

 
31,385

 
13,806

Corporate office
—

 
—

 
—

 
$
55,523

 
$
50,801

 
$
28,274

Pension Service Cost
 
 
 
 
 
Education
$
8,753

 
$
9,720

 
$
11,803

Television broadcasting
2,188

 
1,942

 
1,714

Healthcare
573

 
665

 
—

Other businesses
1,373

 
1,125

 
1,118

Corporate office
5,334

 
5,235

 
5,826

 
$
18,221

 
$
18,687

 
$
20,461

Capital Expenditures
 
 
 
 
 
Education
$
54,159

 
$
27,520

 
$
26,497

Television broadcasting
27,013

 
16,802

 
27,453

Healthcare
1,741

 
2,987

 
2,954

Other businesses
15,154

 
9,771

 
13,093

Corporate office
—

 
—

 
715

 
$
98,067

 
$
57,080

 
$
70,712

Asset information for the Company’s business segments is as follows:
 
As of December 31
(in thousands)
2018
 
2017
Identifiable Assets
 
 
 
Education
$
1,568,747

 
$
1,592,097

Television broadcasting
452,853

 
455,884

Healthcare
108,596

 
129,856

Other businesses
827,113

 
855,399

Corporate office
162,971

 
182,905

 
$
3,120,280

 
$
3,216,141

Investments in Marketable Equity Securities
496,390

 
536,315

Investments in Affiliates
143,813

 
128,590

Prepaid Pension Cost
1,003,558

 
1,056,777

Total Assets
$
4,764,041

 
$
4,937,823
Education [Member]  
Segment Reporting Information [Line Items]  
Schedule of Restructuring Costs
Across all Kaplan businesses, restructuring costs of $9.1 million and $11.9 million were recorded in 2017 and 2016, respectively, as follows:
 
Year Ended December 31
(in thousands)
2017
 
2016
Accelerated depreciation
$
339

 
$
1,815

Lease obligation losses
—

 
2,694

Severance
6,099

 
5,902

Other
2,627

 
1,441

 
$
9,065

 
$
11,852
Summary of Segment Reporting Information, by Operating Segment
The Company’s education division comprises the following operating segments:
 
Year Ended December 31
(in thousands)
2018
 
2017
 
2016
Operating Revenues
 
 
 
 
 
Kaplan international
$
719,982

 
$
697,999

 
$
696,362

Higher education
342,085

 
431,425

 
501,784

Test preparation
256,102

 
273,298

 
286,556

Professional (U.S.)
134,187

 
115,839

 
115,263

Kaplan corporate and other
1,142

 
294

 
214

Intersegment elimination
(2,483
)
 
(2,079
)
 
(1,718
)
 
$
1,451,015

 
$
1,516,776

 
$
1,598,461

Income (Loss) from Operations
 

 
 

 
 

Kaplan international
$
70,315

 
$
51,623

 
$
48,398

Higher education
15,217

 
16,719

 
39,196

Test preparation
19,096

 
11,507

 
9,599

Professional (U.S.)
28,608

 
27,558

 
27,436

Kaplan corporate and other
(36,064
)
 
(29,863
)
 
(29,279
)
Intersegment elimination
(36
)
 
143

 
(29
)
 
$
97,136

 
$
77,687

 
$
95,321

Depreciation of Property, Plant and Equipment
 
 
 
 
 
Kaplan international
$
15,755

 
$
14,892

 
$
17,523

Higher education
4,826

 
9,117

 
13,816

Test preparation
3,941

 
5,286

 
6,287

Professional (U.S.)
3,096

 
3,041

 
3,006

Kaplan corporate and other
481

 
570

 
555

 
$
28,099

 
$
32,906

 
$
41,187

Amortization of Intangible Assets
$
9,362

 
$
5,162

 
$
7,516

Pension Service Cost
 
 
 
 
 
Kaplan international
$
298

 
$
264

 
$
268

Higher education
4,310

 
5,269

 
6,544

Test preparation
2,611

 
2,755

 
3,072

Professional (U.S.)
1,162

 
913

 
1,076

Kaplan corporate and other
372

 
519

 
843

 
$
8,753

 
$
9,720

 
$
11,803

Capital Expenditures
 

 
 

 
 

Kaplan international
$
44,469

 
$
21,667

 
$
16,252

Higher education
4,045

 
2,158

 
3,140

Test preparation
681

 
1,038

 
4,672

Professional (U.S.)
4,845

 
2,475

 
2,224

Kaplan corporate and other
119

 
182

 
209

 
$
54,159

 
$
27,520

 
$
26,497

Asset information for the Company’s education division is as follows:
 
As of December 31
(in thousands)
2018
 
2017
Identifiable Assets
 
 
 
Kaplan international
$
1,101,040

 
$
1,115,919

Higher education
126,752

 
231,986

Test preparation
145,308

 
130,938

Professional (U.S.)
166,916

 
91,630

Kaplan corporate and other
28,731

 
21,624

 
$
1,568,747

 
$
1,592,097