Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting Information [Line Items]

Restructuring related costs across all businesses in 2020 were recorded as follows:


(in thousands)	Kaplan International		Higher Education		Supplemental Education		Kaplan Corporate		Total Education		Other Businesses		Total
Severance	$	4,366	$	—	$	1,797	$	—	$	6,163	$	—	$	6,163
Facility related costs:
Operating lease cost	2,905		3,451		3,586		—		9,942		—		9,942
Accelerated depreciation of property, plant and equipment	1,620		152		1,801		—		3,573		—		3,573
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	$	8,891	$	3,603	$	7,184	$	—	$	19,678	$	—	$	19,678
Impairment of other long-lived assets:
Lease right-of-use assets	$	3,976	$	2,062	$	4,005	$	—	$	10,043	$	1,405	$	11,448
Property, plant and equipment	1,248		174		813		—		2,235		86		2,321
Non-operating pension and postretirement benefit income, net	1,100		2,233		8,566		883		12,782		999		13,781
Total Restructuring Related Costs	$	15,215	$	8,072	$	20,568	$	883	$	44,738	$	2,490	$	47,228

(1) These amounts are included in the segments’ Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets.

Summary of Segment Reporting Information, by Operating Segment

Company information broken down by operating segment and education division:


	Year Ended December 31
(in thousands)	2022		2021		2020
Operating Revenues
Education	$	1,427,915	$	1,361,245	$	1,305,713
Television broadcasting	535,651		494,177		525,212
Manufacturing	486,643		458,125		416,137
Healthcare	326,000		223,030		198,196
Automotive	734,185		327,069		258,144
Other businesses	416,084		324,353		187,347
Corporate office	—		—		—
Intersegment elimination	(1,985)		(2,025)		(1,628)
	$	3,924,493	$	3,185,974	$	2,889,121
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets
Education	$	99,103	$	69,892	$	41,056
Television broadcasting	207,319		154,862		199,938
Manufacturing	54,079		36,926		40,427
Healthcare	19,041		29,912		30,327
Automotive	34,633		11,771		502
Other businesses	(86,270)		(76,153)		(72,915)
Corporate office	(56,166)		(59,025)		(51,978)
	$	271,739	$	168,185	$	187,357
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets
Education	$	16,170	$	19,319	$	29,452
Television broadcasting	5,440		5,440		5,440
Manufacturing	20,372		52,974		28,099
Healthcare	3,776		3,106		4,220
Automotive	—		—		6,698
Other businesses	142,083		9,971		13,041
Corporate office	—		—		—
	$	187,841	$	90,810	$	86,950
Income (Loss) from Operations
Education	$	82,933	$	50,573	$	11,604
Television broadcasting	201,879		149,422		194,498
Manufacturing	33,707		(16,048)		12,328
Healthcare	15,265		26,806		26,107
Automotive	34,633		11,771		(6,196)
Other businesses	(228,353)		(86,124)		(85,956)
Corporate office	(56,166)		(59,025)		(51,978)
	$	83,898	$	77,375	$	100,407
Equity in (Losses) Earnings of Affiliates, Net	(2,837)		17,914		6,664
Interest Expense, Net	(51,177)		(30,534)		(34,439)
Non-Operating Pension and Postretirement Benefit Income, Net	197,939		109,230		59,315
(Loss) Gain on Marketable Equity Securities, net	(139,589)		243,088		60,787
Other Income, Net	33,500		32,554		214,534
Income Before Income Taxes	$	121,734	$	449,627	$	407,268


	Year Ended December 31
(in thousands)	2022		2021		2020
Depreciation of Property, Plant and Equipment
Education	$	34,114	$	32,113	$	31,759
Television broadcasting	12,294		14,018		13,830
Manufacturing	9,399		9,808		10,333
Healthcare	3,781		1,313		1,665
Automotive	3,709		2,156		2,017
Other businesses	9,392		11,376		13,947
Corporate office	608		631		706
	$	73,297	$	71,415	$	74,257
Pension Service Cost
Education	$	8,934	$	9,357	$	10,024
Television broadcasting	3,554		3,575		3,263
Manufacturing	1,104		1,282		1,424
Healthcare	11,008		561		543
Automotive	22		—		—
Other businesses	2,073		1,755		1,698
Corporate office	5,872		6,461		5,704
	$	32,567	$	22,991	$	22,656
Capital Expenditures
Education	$	46,878	$	100,780	$	33,553
Television broadcasting	5,832		6,803		13,470
Manufacturing	7,968		7,190		8,034
Healthcare	2,745		3,671		2,481
Automotive	3,606		31,124		3,181
Other businesses	15,352		13,176		5,075
Corporate office	21		25		80
	$	82,402	$	162,769	$	65,874

Asset information for the Company’s business segments is as follows:


	As of December 31
(in thousands)	2022		2021
Identifiable Assets
Education	$	1,987,042	$	2,026,782
Television broadcasting	431,084		448,627
Manufacturing	486,487		486,304
Healthcare	249,845		194,823
Automotive	427,221		238,200
Other businesses	475,583		689,872
Corporate office	70,567		68,962
	$	4,127,829	$	4,153,570
Investments in Marketable Equity Securities	609,921		809,997
Investments in Affiliates	186,419		155,444
Prepaid Pension Cost	1,658,046		2,306,514

Total Assets	$	6,582,215	$	7,425,525

Education [Member]

Segment Reporting Information [Line Items]

Summary of Segment Reporting Information, by Operating Segment

The Company’s education division comprises the following operating segments:


	Year Ended December 31
(in thousands)	2022		2021		2020
Operating Revenues
Kaplan international	$	816,239	$	726,875	$	653,892
Higher education	304,136		317,854		316,095
Supplemental education	301,625		309,069		327,087
Kaplan corporate and other	18,752		14,759		12,643
Intersegment elimination	(12,837)		(7,312)		(4,004)
	$	1,427,915	$	1,361,245	$	1,305,713
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets
Kaplan international	$	72,066	$	33,457	$	15,248
Higher education	24,031		24,134		24,364
Supplemental education	21,069		36,919		19,705
Kaplan corporate and other	(18,018)		(24,715)		(18,266)
Intersegment elimination	(45)		97		5
	$	99,103	$	69,892	$	41,056
Amortization of Intangible Assets	$	16,170	$	16,001	$	17,174
Impairment of Long-Lived Assets	$	—	$	3,318	$	12,278
Income (Loss) from Operations
Kaplan international	$	72,066	$	33,457	$	15,248
Higher education	24,031		24,134		24,364
Supplemental education	21,069		36,919		19,705
Kaplan corporate and other	(34,188)		(44,034)		(47,718)
Intersegment elimination	(45)		97		5
	$	82,933	$	50,573	$	11,604
Depreciation of Property, Plant and Equipment
Kaplan international	$	23,270	$	21,472	$	19,562
Higher education	4,107		3,658		3,082
Supplemental education	6,344		6,544		8,724
Kaplan corporate and other	393		439		391
	$	34,114	$	32,113	$	31,759
Pension Service Cost
Kaplan international	$	270	$	291	$	433
Higher education	3,842		4,440		4,150
Supplemental education	4,114		3,814		4,207
Kaplan corporate and other	708		812		1,234
	$	8,934	$	9,357	$	10,024
Capital Expenditures
Kaplan international	$	39,206	$	92,532	$	24,085
Higher education	1,398		3,629		3,234
Supplemental education	4,749		4,297		6,030
Kaplan corporate and other	1,525		322		204
	$	46,878	$	100,780	$	33,553

Asset information for the Company’s education division is as follows:


	As of December 31
(in thousands)	2022		2021
Identifiable Assets
Kaplan international	$	1,479,833	$	1,493,868
Higher education	174,033		187,789
Supplemental education	268,499		286,877
Kaplan corporate and other	64,677		58,248
	$	1,987,042	$	2,026,782