Business Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The Company has six reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International, cable, television broadcasting and other businesses.

The following table summarizes financial information related to each of the Company’s business segments:

	Three Months Ended
	March 31
(in thousands)	2015			2014
Operating Revenues
Education	$	500,602		$	522,154
Cable	198,723			203,921
Television broadcasting	83,564			85,651
Other businesses	63,259			24,913
Corporate office	—			—
Intersegment elimination	—			(98		)
	$	846,148		$	836,541
Income (Loss) From Operations
Education	$	(22,849	)	$	1,862
Cable	39,076			41,162
Television broadcasting	38,562			44,386
Other businesses	(5,162		)	(10,747		)
Corporate office	(3,072		)	2,206
	$	46,555		$	78,869
Equity in (Losses) Earnings of Affiliates, Net	(404		)	4,052
Interest Expense, Net	(7,962		)	(8,221		)
Other (Expense) Income, Net	(1,105		)	133,273
Income from Continuing Operations Before Income Taxes	$	37,084		$	207,973
Depreciation of Property, Plant and Equipment
Education	$	18,528		$	16,416
Cable	36,348			33,787
Television broadcasting	2,109			1,994
Other businesses	1,302			520
Corporate office	258			500
	$	58,545		$	53,217
Amortization of Intangible Assets
Education	$	1,507		$	1,924
Cable	31			35
Television broadcasting	63			—
Other businesses	3,168			758
Corporate office	—			—
	$	4,769		$	2,717
Net Pension (Credit) Expense
Education	$	3,947		$	4,143
Cable	975			864
Television broadcasting	391			320
Other businesses	193			164
Corporate office	(16,938		)	(17,679		)
	$	(11,432	)	$	(12,188	)

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

	As of
(in thousands)	March 31, 2015		December 31, 2014
Identifiable Assets
Education	$	1,535,949	$	1,781,543
Cable television	1,254,511		1,253,764
Television broadcasting	299,983		305,426
Other businesses	488,748		518,807
Corporate office	509,720		524,627
	$	4,088,911	$	4,384,167
Investments in Marketable Equity Securities	184,915		193,793
Investments in Affiliates	36,120		19,811
Prepaid Pension Cost	1,164,001		1,152,488
Assets Held for Sale	51,443		2,060
Total Assets	$	5,525,390	$	5,752,319

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

	Three Months Ended
	March 31
(in thousands)	2015			2014
Operating Revenues
Higher education	$	237,568		$	253,779
Test preparation	69,226			67,804
Kaplan international	192,081			198,847
Kaplan corporate and other	1,859			2,014
Intersegment elimination	(132		)	(290		)
	$	500,602		$	522,154
Income (Loss) from Operations
Higher education	$	593		$	13,144
Test preparation	(4,334		)	(6,628		)
Kaplan international	7,717			9,858
Kaplan corporate and other	(26,857		)	(14,556		)
Intersegment elimination	32			44
	$	(22,849	)	$	1,862
Depreciation of Property, Plant and Equipment
Higher education	$	4,828		$	7,740
Test preparation	2,890			3,784
Kaplan international	4,654			4,680
Kaplan corporate and other	6,156			212
	$	18,528		$	16,416
Amortization of Intangible Assets	$	1,507		$	1,924
Pension Expense
Higher education	$	2,532		$	2,628
Test preparation	775			722
Kaplan international	106			89
Kaplan corporate and other	534			704
	$	3,947		$	4,143

Identifiable assets for the Company’s education division consist of the following:

	As of
(in thousands)	March 31, 2015		December 31, 2014
Identifiable assets
Higher education	$	557,851	$	749,421
Test preparation	169,493		167,055
Kaplan international	776,129		838,148
Kaplan corporate and other	32,476		26,919
	$	1,535,949	$	1,781,543