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)	2017			2016			2017			2016
Operating Revenues
Education	$	386,499		$	419,213		$	759,396		$	820,289
Television broadcasting	106,102			96,520			197,598			188,538
Other businesses	183,486			113,269			301,810			221,985
Corporate office	—			—			—			—
Intersegment elimination	—			(69		)	—			(139		)
	$	676,087		$	628,933		$	1,258,804		$	1,230,673
Income (Loss) from Operations
Education	$	32,925		$	32,892		$	41,956		$	47,380
Television broadcasting	39,264			44,215			65,233			85,435
Other businesses	(8,918		)	(5,062		)	(19,482		)	(10,792		)
Corporate office	5,090			2,095			9,708			3,989
	$	68,361		$	74,140		$	97,415		$	126,012
Equity in Earnings (Losses) of Affiliates, Net	1,331			(891		)	1,980			113
Interest Expense, Net	(7,862		)	(7,250		)	(14,628		)	(14,607		)
Other Income, Net	4,069			19,000			4,918			34,096
Income Before Income Taxes	$	65,899		$	84,999		$	89,685		$	145,614
Depreciation of Property, Plant and Equipment
Education	$	8,325		$	10,242		$	16,909		$	21,345
Television broadcasting	2,991			2,450			5,585			4,827
Other businesses	4,264			3,073			7,448			6,100
Corporate office	291			280			581			534
	$	15,871		$	16,045		$	30,523		$	32,806
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets
Education	$	1,323		$	1,704		$	2,443		$	3,385
Television broadcasting	970			63			1,872			126
Other businesses	17,462			4,511			22,276			9,029
Corporate office	—			—			—			—
	$	19,755		$	6,278		$	26,591		$	12,540
Net Pension (Credit) Expense
Education	$	2,153		$	3,018		$	4,859		$	6,127
Television broadcasting	479			418			972			857
Other businesses	415			306			898			560
Corporate office	(17,876		)	(16,008		)	(36,246		)	(31,869		)
	$	(14,829	)	$	(12,266	)	$	(29,517	)	$	(24,325	)

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



	As of
(in thousands)	June 30, 2017		December 31, 2016
Identifiable Assets
Education	$	1,494,736	$	1,479,267
Television broadcasting	451,296		336,631
Other businesses	946,499		796,935
Corporate office	250,071		455,209
	$	3,142,602	$	3,068,042
Investments in Marketable Equity Securities	447,763		424,229
Investments in Affiliates	67,812		58,806
Prepaid Pension Cost	850,262		881,593
Total Assets	$	4,508,439	$	4,432,670

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



	Three Months Ended						Six Months Ended
	June 30						June 30
(in thousands)	2017			2016			2017			2016
Operating Revenues
Higher education	$	139,204		$	157,980		$	283,514		$	323,529
Test preparation	75,730			79,349			140,298			145,811
Kaplan international	171,747			182,325			336,309			351,612
Kaplan corporate and other	57			18			71			143
Intersegment elimination	(239		)	(459		)	(796		)	(806		)
	$	386,499		$	419,213		$	759,396		$	820,289
Income (Loss) from Operations
Higher education	$	17,711		$	17,237		$	30,315		$	38,543
Test preparation	5,741			7,036			2,877			4,726
Kaplan international	15,954			16,479			23,661			21,376
Kaplan corporate and other	(6,451		)	(7,811		)	(14,920		)	(17,216		)
Intersegment elimination	(30		)	(49		)	23			(49		)
	$	32,925		$	32,892		$	41,956		$	47,380
Depreciation of Property, Plant and Equipment
Higher education	$	3,249		$	3,993		$	6,680		$	8,168
Test preparation	1,332			1,615			2,673			3,396
Kaplan international	3,609			4,319			7,291			9,379
Kaplan corporate and other	135			315			265			402
	$	8,325		$	10,242		$	16,909		$	21,345
Amortization of Intangible Assets	$	1,323		$	1,704		$	2,443		$	3,385
Pension Expense
Higher education	$	2,044		$	1,905		$	4,088		$	3,810
Test preparation	911			768			1,822			1,536
Kaplan international	87			67			174			134
Kaplan corporate and other	(889		)	278			(1,225		)	647
	$	2,153		$	3,018		$	4,859		$	6,127

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