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Business Segments (Tables)
3 Months Ended
Mar. 31, 2022
Segment Reporting Information [Line Items]  
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)20222021
Operating Revenues    
Education$358,012 $329,317 
Television broadcasting123,419 113,625 
Manufacturing115,940 115,960 
Healthcare67,255 50,043 
Automotive150,967 67,727 
Other businesses99,617 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




Education$24,558 $24,148 
Television broadcasting41,258 34,337 
Manufacturing15,138 15,894 
Healthcare7,288 7,921 
Automotive7,078 524 
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 broadcasting1,360 1,359 
Manufacturing5,163 6,987 
Healthcare929 781 
Automotive — 
Other businesses3,314 645 
Corporate office — 
$14,912 $14,984 
Income (Loss) from Operations
Education$20,412 $18,936 
Television broadcasting39,898 32,978 
Manufacturing9,975 8,907 
Healthcare6,359 7,140 
Automotive7,078 524 
Other businesses(30,744)(19,861)
Corporate office(13,007)(14,780)
  $39,971 $33,844 
Equity in Earnings of Affiliates, Net2,604 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)20222021
Depreciation of Property, Plant and Equipment
Education$8,505 $7,780 
Television broadcasting3,289 3,473 
Manufacturing2,428 2,517 
Healthcare410 317 
Automotive777 530 
Other businesses3,915 1,760 
Corporate office151 168 
  $19,475 $16,545 
Pension Service Cost  
Education$2,536 $2,283 
Television broadcasting926 835 
Manufacturing328 395 
Healthcare186 172 
Automotive6 — 
Other businesses520 369 
Corporate office1,529 1,548 
  $6,031 $5,602 
Asset information for the Company’s business segments is as follows:
  As of
(in thousands)March 31, 2022December 31, 2021
Identifiable Assets    
Education$1,931,039 $2,026,782 
Television broadcasting442,468 448,627 
Manufacturing495,452 486,304 
Healthcare203,534 194,823 
Automotive243,766 238,200 
Other businesses626,418 689,872 
Corporate office108,924 68,962 
  $4,051,601 $4,153,570 
Investments in Marketable Equity Securities801,178 809,997 
Investments in Affiliates172,584 155,444 
Prepaid Pension Cost2,334,773 2,306,514 
Total Assets$7,360,136 $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:
  Three months ended
  March 31
(in thousands)20222021
Operating Revenues  
Kaplan international$204,513 $171,895 
Higher education75,808 75,686 
Supplemental education76,304 79,655 
Kaplan corporate and other4,345 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 education5,037 6,253 
Supplemental education3,371 12,497 
Kaplan corporate and other(4,433)(4,907)
Intersegment elimination19 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 education5,037 6,253 
Supplemental education3,371 12,497 
Kaplan corporate and other(8,579)(10,119)
Intersegment elimination19 98 
  $20,412 $18,936 
Depreciation of Property, Plant and Equipment
    
Kaplan international$5,755 $5,252 
Higher education1,020 852 
Supplemental education1,639 1,576 
Kaplan corporate and other91 100 
  $8,505 $7,780 
Pension Service Cost    
Kaplan international$72 $71 
Higher education1,081 1,083 
Supplemental education1,182 931 
Kaplan corporate and other201 198 
  $2,536 $2,283 
Asset information for the Company’s education division is as follows:
  As of
(in thousands)March 31, 2022December 31, 2021
Identifiable Assets    
Kaplan international$1,424,270 $1,493,868 
Higher education178,681 187,789 
Supplemental education275,191 286,877 
Kaplan corporate and other52,897 58,248 
  $1,931,039 $2,026,782