Summary of Segment Reporting Information, by Operating Segment |
The following tables summarize the financial information related to each of the Company’s business segments: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | | | | | | | | | | | March 31 | | | (in thousands) | | | | | | | | | | | | | 2022 | | 2021 | | | | | Operating Revenues | | | | | | | | | | | | | | | | | | | | Education | | | | | | | | | | | | | $ | 358,012 | | | $ | 329,317 | | | | | | Television broadcasting | | | | | | | | | | | | | 123,419 | | | 113,625 | | | | | | Manufacturing | | | | | | | | | | | | | 115,940 | | | 115,960 | | | | | | Healthcare | | | | | | | | | | | | | 67,255 | | | 50,043 | | | | | | Automotive | | | | | | | | | | | | | 150,967 | | | 67,727 | | | | | | Other businesses | | | | | | | | | | | | | 99,617 | | | 36,312 | | | | | | Corporate office | | | | | | | | | | | | | — | | | — | | | | | | Intersegment elimination | | | | | | | | | | | | | (489) | | | (529) | | | | | | | | | | | | | | | | | | | $ | 914,721 | | | $ | 712,455 | | | | | | Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets | | | | | | | | | | | |
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| | | | | Education | | | | | | | | | | | | | $ | 24,558 | | | $ | 24,148 | | | | | | Television broadcasting | | | | | | | | | | | | | 41,258 | | | 34,337 | | | | | | Manufacturing | | | | | | | | | | | | | 15,138 | | | 15,894 | | | | | | Healthcare | | | | | | | | | | | | | 7,288 | | | 7,921 | | | | | | Automotive | | | | | | | | | | | | | 7,078 | | | 524 | | | | | | Other businesses | | | | | | | | | | | | | (27,430) | | | (19,216) | | | | | | Corporate office | | | | | | | | | | | | | (13,007) | | | (14,780) | | | | | | | | | | | | | | | | | | | $ | 54,883 | | | $ | 48,828 | | | | | | Amortization of Intangible Assets and Impairment of Long-Lived Assets | | | | | | | | | | | | | | | | | | | | Education | | | | | | | | | | | | | $ | 4,146 | | | $ | 5,212 | | | | | | Television broadcasting | | | | | | | | | | | | | 1,360 | | | 1,359 | | | | | | Manufacturing | | | | | | | | | | | | | 5,163 | | | 6,987 | | | | | | Healthcare | | | | | | | | | | | | | 929 | | | 781 | | | | | | Automotive | | | | | | | | | | | | | — | | | — | | | | | | Other businesses | | | | | | | | | | | | | 3,314 | | | 645 | | | | | | Corporate office | | | | | | | | | | | | | — | | | — | | | | | | | | | | | | | | | | | | | $ | 14,912 | | | $ | 14,984 | | | | | | Income (Loss) from Operations | | | | | | | | | | | | | | | | | | | | Education | | | | | | | | | | | | | $ | 20,412 | | | $ | 18,936 | | | | | | Television broadcasting | | | | | | | | | | | | | 39,898 | | | 32,978 | | | | | | Manufacturing | | | | | | | | | | | | | 9,975 | | | 8,907 | | | | | | Healthcare | | | | | | | | | | | | | 6,359 | | | 7,140 | | | | | | Automotive | | | | | | | | | | | | | 7,078 | | | 524 | | | | | | Other businesses | | | | | | | | | | | | | (30,744) | | | (19,861) | | | | | | Corporate office | | | | | | | | | | | | | (13,007) | | | (14,780) | | | | | | | | | | | | | | | | | | | $ | 39,971 | | | $ | 33,844 | | | | | | Equity in Earnings of Affiliates, Net | | | | | | | | | | | | | 2,604 | | | 13,428 | | | | | | Interest Expense, Net | | | | | | | | | | | | | (10,702) | | | (7,558) | | | | | | Non-Operating Pension and Postretirement Benefit Income, Net | | | | | | | | | | | | | 50,505 | | | 28,787 | | | | | | Gain on Marketable Equity Securities, Net | | | | | | | | | | | | | 46,912 | | | 79,214 | | | | | | Other Income, Net | | | | | | | | | | | | | 2,876 | | | 6,320 | | | | | | Income Before Income Taxes | | | | | | | | | | | | | $ | 132,166 | | | $ | 154,035 | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended | | | | | | | | | | | | March 31 | | | (in thousands) | | | | | | | | | | | | | 2022 | | 2021 | | | | | Depreciation of Property, Plant and Equipment | | | | | | | | | | | | | | | | | | | | Education | | | | | | | | | | | | | $ | 8,505 | | | $ | 7,780 | | | | | | Television broadcasting | | | | | | | | | | | | | 3,289 | | | 3,473 | | | | | | Manufacturing | | | | | | | | | | | | | 2,428 | | | 2,517 | | | | | | Healthcare | | | | | | | | | | | | | 410 | | | 317 | | | | | | Automotive | | | | | | | | | | | | | 777 | | | 530 | | | | | | Other businesses | | | | | | | | | | | | | 3,915 | | | 1,760 | | | | | | Corporate office | | | | | | | | | | | | | 151 | | | 168 | | | | | | | | | | | | | | | | | | | $ | 19,475 | | | $ | 16,545 | | | | | | Pension Service Cost | | | | | | | | | | | | | | | | | | | | Education | | | | | | | | | | | | | $ | 2,536 | | | $ | 2,283 | | | | | | Television broadcasting | | | | | | | | | | | | | 926 | | | 835 | | | | | | Manufacturing | | | | | | | | | | | | | 328 | | | 395 | | | | | | Healthcare | | | | | | | | | | | | | 186 | | | 172 | | | | | | Automotive | | | | | | | | | | | | | 6 | | | — | | | | | | Other businesses | | | | | | | | | | | | | 520 | | | 369 | | | | | | Corporate office | | | | | | | | | | | | | 1,529 | | | 1,548 | | | | | | | | | | | | | | | | | | | $ | 6,031 | | | $ | 5,602 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Asset information for the Company’s business segments is as follows: | | | | | | | | | | | | | As of | (in thousands) | March 31, 2022 | | December 31, 2021 | Identifiable Assets | | | | Education | $ | 1,931,039 | | | $ | 2,026,782 | | Television broadcasting | 442,468 | | | 448,627 | | Manufacturing | 495,452 | | | 486,304 | | Healthcare | 203,534 | | | 194,823 | | Automotive | 243,766 | | | 238,200 | | Other businesses | 626,418 | | | 689,872 | | Corporate office | 108,924 | | | 68,962 | | | $ | 4,051,601 | | | $ | 4,153,570 | | Investments in Marketable Equity Securities | 801,178 | | | 809,997 | | Investments in Affiliates | 172,584 | | | 155,444 | | Prepaid Pension Cost | 2,334,773 | | | 2,306,514 | | Total Assets | $ | 7,360,136 | | | $ | 7,425,525 | |
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Summary of Segment Reporting Information, by Operating Segment |
The Company’s education division comprises the following operating segments: | | | | | | | | | | | | | | | | | | | | | | Three months ended | | | | | March 31 | | (in thousands) | | | | | 2022 | | 2021 | | Operating Revenues | | | | | | | | | Kaplan international | | | | | $ | 204,513 | | | $ | 171,895 | | | Higher education | | | | | 75,808 | | | 75,686 | | | Supplemental education | | | | | 76,304 | | | 79,655 | | | Kaplan corporate and other | | | | | 4,345 | | | 3,363 | | | Intersegment elimination | | | | | (2,958) | | | (1,282) | | | | | | | | $ | 358,012 | | | $ | 329,317 | | | | | | | | | | | | Income (Loss) From Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets | | | | | | | | | Kaplan international | | | | | $ | 20,564 | | | $ | 10,207 | | | Higher education | | | | | 5,037 | | | 6,253 | | | Supplemental education | | | | | 3,371 | | | 12,497 | | | Kaplan corporate and other | | | | | (4,433) | | | (4,907) | | | Intersegment elimination | | | | | 19 | | | 98 | | | | | | | | $ | 24,558 | | | $ | 24,148 | | | Amortization of Intangible Assets | | | | | $ | 4,146 | | | $ | 4,165 | | | Impairment of Long-Lived Assets | | | | | $ | — | | | $ | 1,047 | | | | | | | | | | | | Income (Loss) from Operations | | | | | | | | | Kaplan international | | | | | $ | 20,564 | | | $ | 10,207 | | | Higher education | | | | | 5,037 | | | 6,253 | | | Supplemental education | | | | | 3,371 | | | 12,497 | | | Kaplan corporate and other | | | | | (8,579) | | | (10,119) | | | Intersegment elimination | | | | | 19 | | | 98 | | | | | | | | $ | 20,412 | | | $ | 18,936 | | | Depreciation of Property, Plant and Equipment | | | | | | | | | Kaplan international | | | | | $ | 5,755 | | | $ | 5,252 | | | Higher education | | | | | 1,020 | | | 852 | | | Supplemental education | | | | | 1,639 | | | 1,576 | | | Kaplan corporate and other | | | | | 91 | | | 100 | | | | | | | | $ | 8,505 | | | $ | 7,780 | | | | | | | | | | | | Pension Service Cost | | | | | | | | | Kaplan international | | | | | $ | 72 | | | $ | 71 | | | Higher education | | | | | 1,081 | | | 1,083 | | | Supplemental education | | | | | 1,182 | | | 931 | | | Kaplan corporate and other | | | | | 201 | | | 198 | | | | | | | | $ | 2,536 | | | $ | 2,283 | | |
Asset information for the Company’s education division is as follows: | | | | | | | | | | | | | As of | | | | | (in thousands) | March 31, 2022 | | December 31, 2021 | Identifiable Assets | | | | Kaplan international | $ | 1,424,270 | | | $ | 1,493,868 | | Higher education | 178,681 | | | 187,789 | | Supplemental education | 275,191 | | | 286,877 | | Kaplan corporate and other | 52,897 | | | 58,248 | | | $ | 1,931,039 | | | $ | 2,026,782 | |
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