XML 45 R36.htm IDEA: XBRL DOCUMENT v3.22.2
Business Segments (Tables)
 6 Months Ended
Jun. 30, 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 endedSix months ended
June 30June 30
(in thousands)2022202120222021
Operating Revenues    
Education$353,013 $339,984 $711,025 $669,301 
Television broadcasting122,386 119,966 245,805 233,591 
Manufacturing127,062 141,123 243,002 257,083 
Healthcare76,385 54,696 143,640 104,739 
Automotive147,602 90,273 298,569 158,000 
Other businesses107,326 55,626 206,943 91,938 
Corporate office— — — — 
Intersegment elimination(472)(516)(961)(1,045)
  $933,302 $801,152 $1,848,023 $1,513,607 
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets






Education$22,769 $19,221 $47,327 $43,369 
Television broadcasting41,042 36,964 82,300 71,301 
Manufacturing9,666 19,038 24,804 34,932 
Healthcare7,250 9,375 14,538 17,296 
Automotive7,365 3,785 14,443 4,309 
Other businesses(23,031)(18,565)(50,461)(37,781)
Corporate office(10,844)(14,570)(23,851)(29,350)
$54,217 $55,248 $109,100 $104,076 
Amortization of Intangible Assets and Impairment of Long-Lived Assets
Education$4,064 $6,073 $8,210 $11,285 
Television broadcasting1,360 1,361 2,720 2,720 
Manufacturing5,164 6,610 10,327 13,597 
Healthcare988 780 1,917 1,561 
Automotive— — — — 
Other businesses3,313 2,833 6,627 3,478 
Corporate office— — — — 
$14,889 $17,657 $29,801 $32,641 
Income (Loss) from Operations
Education$18,705 $13,148 $39,117 $32,084 
Television broadcasting39,682 35,603 79,580 68,581 
Manufacturing4,502 12,428 14,477 21,335 
Healthcare6,262 8,595 12,621 15,735 
Automotive7,365 3,785 14,443 4,309 
Other businesses(26,344)(21,398)(57,088)(41,259)
Corporate office(10,844)(14,570)(23,851)(29,350)
  $39,328 $37,591 $79,299 $71,435 
Equity in Earnings of Affiliates, Net1,427 1,776 4,031 15,204 
Interest Expense, Net(15,277)(5,477)(25,979)(13,035)
Non-Operating Pension and Postretirement Benefit Income, Net
50,871 25,216 101,376 54,003 
(Loss) Gain on Marketable Equity Securities, Net
(165,540)83,698 (118,628)162,912 
Other Income, Net
1,176 16,122 4,052 22,442 
(Loss) Income Before Income Taxes
$(88,015)$158,926 $44,151 $312,961 
  Three months endedSix months ended
June 30June 30
(in thousands)2022202120222021
Depreciation of Property, Plant and Equipment
Education$8,531 $7,482 $17,036 $15,262 
Television broadcasting3,085 3,543 6,374 7,016 
Manufacturing2,323 2,427 4,751 4,944 
Healthcare455 331 865 648 
Automotive752 490 1,529 1,020 
Other businesses4,114 2,169 8,029 3,929 
Corporate office153 158 304 326 
  $19,413 $16,600 $38,888 $33,145 
Pension Service Cost  
Education$1,931 $2,398 $4,467 $4,681 
Television broadcasting856 956 1,782 1,791 
Manufacturing224 246 552 641 
Healthcare93 108 279 280 
Automotive5 — 11 — 
Other businesses477 487 997 856 
Corporate office1,407 1,682 2,936 3,230 
  $4,993 $5,877 $11,024 $11,479 
Asset information for the Company’s business segments is as follows:
  As of
(in thousands)June 30, 2022December 31, 2021
Identifiable Assets    
Education$1,824,482 $2,026,782 
Television broadcasting429,070 448,627 
Manufacturing500,918 486,304 
Healthcare217,190 194,823 
Automotive268,156 238,200 
Other businesses623,159 689,872 
Corporate office112,979 68,962 
  $3,975,954 $4,153,570 
Investments in Marketable Equity Securities648,604 809,997 
Investments in Affiliates172,612 155,444 
Prepaid Pension Cost2,364,135 2,306,514 
Total Assets$7,161,305 $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 EndedSix months ended
  June 30June 30
(in thousands)2022202120222021
Operating Revenues      
Kaplan international$200,871 $181,276 $405,384 $353,171 
Higher education72,975 78,740 148,783 154,426 
Supplemental education77,546 77,911 153,850 157,566 
Kaplan corporate and other4,454 3,615 8,799 6,978 
Intersegment elimination(2,833)(1,558)(5,791)(2,840)
  $353,013 $339,984 $711,025 $669,301 
Income (Loss) From Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets
Kaplan international$19,063 $14,077 $39,627 $24,284 
Higher education2,704 2,374 7,741 8,627 
Supplemental education4,829 8,813 8,200 21,310 
Kaplan corporate and other(3,771)(6,042)(8,204)(10,949)
Intersegment elimination(56)(1)(37)97 
$22,769 $19,221 $47,327 $43,369 
Amortization of Intangible Assets$4,064 $3,914 $8,210 $8,079 
Impairment of Long-Lived Assets$— $2,159 $— $3,206 
Income (Loss) from Operations      
Kaplan international$19,063 $14,077 $39,627 $24,284 
Higher education2,704 2,374 7,741 8,627 
Supplemental education4,829 8,813 8,200 21,310 
Kaplan corporate and other(7,835)(12,115)(16,414)(22,234)
Intersegment elimination(56)(1)(37)97 
  $18,705 $13,148 $39,117 $32,084 
Depreciation of Property, Plant and Equipment
        
Kaplan international$5,794 $4,835 $11,549 $10,087 
Higher education1,064 873 2,084 1,725 
Supplemental education1,578 1,670 3,217 3,246 
Kaplan corporate and other95 104 186 204 
  $8,531 $7,482 $17,036 $15,262 
Pension Service Cost        
Kaplan international$63 $77 $135 $148 
Higher education820 1,137 1,901 2,220 
Supplemental education895 976 2,077 1,907 
Kaplan corporate and other153 208 354 406 
  $1,931 $2,398 $4,467 $4,681 
Asset information for the Company’s education division is as follows:
  As of
(in thousands)June 30, 2022December 31, 2021
Identifiable Assets    
Kaplan international$1,320,183 $1,493,868 
Higher education177,954 187,789 
Supplemental education268,054 286,877 
Kaplan corporate and other58,291 58,248 
  $1,824,482 $2,026,782