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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2024
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)20242023
Operating Revenues    
Education$422,598 $378,041 
Television broadcasting113,058 112,877 
Manufacturing101,903 114,584 
Healthcare128,201 102,059 
Automotive303,840 232,561 
Other businesses83,298 92,008 
Corporate office576 — 
Intersegment elimination(812)(584)
  $1,152,662 $1,031,546 
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets




Education$33,561 $27,456 
Television broadcasting30,983 29,945 
Manufacturing6,189 12,190 
Healthcare6,727 3,890 
Automotive9,652 10,843 
Other businesses(26,283)(27,906)
Corporate office(14,636)(14,073)
$46,193 $42,345 
Amortization of Intangible Assets and Impairment of Long-Lived Assets
Education$2,974 $4,416 
Television broadcasting1,350 1,362 
Manufacturing3,120 4,862 
Healthcare636 954 
Automotive— — 
Other businesses2,671 3,095 
Corporate office— — 
$10,751 $14,689 
Income (Loss) from Operations
Education$30,587 $23,040 
Television broadcasting29,633 28,583 
Manufacturing3,069 7,328 
Healthcare6,091 2,936 
Automotive9,652 10,843 
Other businesses(28,954)(31,001)
Corporate office(14,636)(14,073)
  $35,442 $27,656 
Equity in Earnings of Affiliates, Net
2,331 4,661 
Interest Expense, Net(17,150)(13,090)
Non-Operating Pension and Postretirement Benefit Income, Net
42,417 31,845 
Gain on Marketable Equity Securities, Net
104,152 18,022 
Other Income, Net
1,647 3,083 
Income Before Income Taxes
$168,839 $72,177 
  Three Months Ended 
 March 31
(in thousands)20242023
Depreciation of Property, Plant and Equipment
Education$9,305 $8,968 
Television broadcasting2,868 3,036 
Manufacturing2,715 2,282 
Healthcare1,594 1,104 
Automotive1,713 1,113 
Other businesses4,183 3,369 
Corporate office149 153 
  $22,527 $20,025 
Pension Service Cost  
Education$4,110 $2,198 
Television broadcasting1,639 860 
Manufacturing627 275 
Healthcare4,758 4,357 
Automotive15 5 
Other businesses1,940 572 
Corporate office945 976 
  $14,034 $9,243 
Asset information for the Company’s business segments is as follows:
  As of
(in thousands)March 31, 2024December 31, 2023
Identifiable Assets    
Education$1,939,781 $2,021,471 
Television broadcasting419,819 419,557 
Manufacturing436,797 431,712 
Healthcare267,707 265,150 
Automotive623,376 597,267 
Other businesses364,656 368,542 
Corporate office92,331 93,760 
  $4,144,467 $4,197,459 
Investments in Marketable Equity Securities794,305 690,153 
Investments in Affiliates186,674 186,480 
Prepaid Pension Cost2,129,682 2,113,638 
Total Assets$7,255,128 $7,187,730 
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)20242023
Operating Revenues  
Kaplan international$269,798 $227,076 
Higher education80,122 78,341 
Supplemental education72,122 73,587 
Kaplan corporate and other2,588 2,372 
Intersegment elimination(2,032)(3,335)
  $422,598 $378,041 
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets
Kaplan international$31,312 $21,301 
Higher education5,519 7,083 
Supplemental education4,580 3,751 
Kaplan corporate and other(7,585)(4,838)
Intersegment elimination(265)159 
$33,561 $27,456 
Amortization of Intangible Assets$2,974 $3,939 
Impairment of Long-Lived Assets$— $477 
Income (Loss) from Operations    
Kaplan international$31,312 $21,301 
Higher education5,519 7,083 
Supplemental education4,580 3,751 
Kaplan corporate and other(10,559)(9,254)
Intersegment elimination(265)159 
  $30,587 $23,040 
Depreciation of Property, Plant and Equipment
    
Kaplan international$7,356 $6,330 
Higher education903 1,102 
Supplemental education1,019 1,509 
Kaplan corporate and other27 27 
  $9,305 $8,968 
Pension Service Cost    
Kaplan international$163 $80 
Higher education1,781 922 
Supplemental education1,818 1,024 
Kaplan corporate and other348 172 
  $4,110 $2,198 
Asset information for the Company’s education division is as follows:
  As of
(in thousands)March 31, 2024December 31, 2023
Identifiable Assets    
Kaplan international$1,453,727 $1,537,989 
Higher education200,115 187,972 
Supplemental education237,263 249,519 
Kaplan corporate and other48,676 45,991 
  $1,939,781 $2,021,471