Business Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The Company has four reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International and television broadcasting.

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

	Three Months Ended June 30						Six Months Ended June 30
(in thousands)	2016			2015			2016			2015
Operating Revenues
Education	$	419,213		$	523,625		$	820,289		$	1,024,227
Television broadcasting	96,520			90,753			188,538			174,317
Other businesses	113,269			66,512			221,985			129,771
Corporate office	—			—			—			—
Intersegment elimination	(69		)	—			(139		)	—
	$	628,933		$	680,890		$	1,230,673		$	1,328,315
Income (Loss) from Operations
Education	$	32,892		$	15,848		$	47,380		$	(7,001	)
Television broadcasting	44,215			42,014			85,435			80,576
Other businesses	(5,062		)	(2,161		)	(10,792		)	(7,323		)
Corporate office	2,095			524			3,989			(1,165		)
	$	74,140		$	56,225		$	126,012		$	65,087
Equity in (Losses) Earnings of Affiliates, Net	(891		)	(353		)	113			(757		)
Interest Expense, Net	(7,250		)	(8,025		)	(14,607		)	(15,967		)
Other Income, Net	19,000			11,678			34,096			10,573
Income from Continuing Operations Before Income Taxes	$	84,999		$	59,525		$	145,614		$	58,936
Depreciation of Property, Plant and Equipment
Education	$	10,242		$	21,980		$	21,345		$	40,508
Television broadcasting	2,450			2,125			4,827			4,234
Other businesses	3,073			1,254			6,100			2,556
Corporate office	280			250			534			508
	$	16,045		$	25,609		$	32,806		$	47,806
Amortization of Intangible Assets and Impairment of Long-lived Assets
Education	$	1,704		$	8,343		$	3,385		$	9,850
Television broadcasting	63			63			126			126
Other businesses	4,511			3,117			9,029			6,285
Corporate office	—			—			—			—
	$	6,278		$	11,523		$	12,540		$	16,261
Net Pension (Credit) Expense
Education	$	3,018		$	3,947		$	6,127		$	7,894
Television broadcasting	418			391			857			782
Other businesses	306			186			560			379
Corporate office	(16,008		)	(16,939		)	(31,869		)	(33,877		)
	$	(12,266	)	$	(12,415	)	$	(24,325	)	$	(24,822	)

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

	As of
(in thousands)	June 30, 2016		December 31, 2015
Identifiable Assets
Education	$	1,372,743	$	1,454,520
Television broadcasting	318,173		312,243
Other businesses	701,594		712,161
Corporate office	527,217		484,139
	$	2,919,727	$	2,963,063
Investments in Marketable Equity Securities	340,633		350,563
Investments in Affiliates	63,834		59,229
Prepaid Pension Cost	1,004,445		979,970
Total Assets	$	4,328,639	$	4,352,825

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

	Three Months Ended						Six Months Ended
	June 30						June 30
(in thousands)	2016			2015			2016			2015
Operating Revenues
Higher education	$	157,980		$	240,717		$	323,529		$	478,285
Test preparation	79,349			80,381			145,811			149,607
Kaplan international	182,325			200,703			351,612			392,784
Kaplan corporate and other	18			1,959			143			3,818
Intersegment elimination	(459		)	(135		)	(806		)	(267		)
	$	419,213		$	523,625		$	820,289		$	1,024,227
Income (Loss) from Operations
Higher education	$	17,237		$	24,764		$	38,543		$	25,357
Test preparation	7,036			7,079			4,726			2,745
Kaplan international	16,479			17,573			21,376			25,290
Kaplan corporate and other	(7,811		)	(33,594		)	(17,216		)	(60,451		)
Intersegment elimination	(49		)	26			(49		)	58
	$	32,892		$	15,848		$	47,380		$	(7,001	)
Depreciation of Property, Plant and Equipment
Higher education	$	3,993		$	4,794		$	8,168		$	9,622
Test preparation	1,615			2,263			3,396			5,153
Kaplan international	4,319			5,073			9,379			9,727
Kaplan corporate and other	315			9,850			402			16,006
	$	10,242		$	21,980		$	21,345		$	40,508
Amortization of Intangible Assets	$	1,704		$	1,467		$	3,385		$	2,974
Impairment of Long-lived Assets	$	—		$	6,876		$	—		$	6,876
Pension Expense
Higher education	$	1,905		$	2,532		$	3,810		$	5,064
Test preparation	768			775			1,536			1,550
Kaplan international	67			106			134			212
Kaplan corporate and other	278			534			647			1,068
	$	3,018		$	3,947		$	6,127		$	7,894

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

	As of
(in thousands)	June 30, 2016		December 31, 2015
Identifiable assets
Higher education	$	237,366	$	447,282
Test preparation	139,878		134,535
Kaplan international	946,898		826,475
Kaplan corporate and other	48,601		46,228
	$	1,372,743	$	1,454,520