Business Segments | BUSINESS SEGMENTS The Company has six reportable segments: Kaplan Higher Education, Kaplan Test Preparation, Kaplan International, cable, television broadcasting and other businesses. The following table summarizes financial information related to each of the Company’s business segments: Three Months Ended Six Months Ended June 30 June 30 (in thousands) 2015 2014 2015 2014 Operating Revenues Education $ 523,625 $ 542,964 $ 1,024,227 $ 1,065,118 Cable 198,681 200,829 397,404 404,750 Television broadcasting 90,753 88,297 174,317 173,948 Other businesses 66,512 42,351 129,771 67,264 Corporate office — — — — Intersegment elimination — (30 ) — (128 ) $ 879,571 $ 874,411 $ 1,725,719 $ 1,710,952 Income (Loss) From Operations Education $ 15,848 $ 17,637 $ (7,001 ) $ 19,499 Cable 38,445 46,780 77,521 87,942 Television broadcasting 42,014 44,088 80,576 88,474 Other businesses (2,161 ) (6,995 ) (7,323 ) (17,742 ) Corporate office (5,251 ) 50 (8,323 ) 2,256 $ 88,895 $ 101,560 $ 135,450 $ 180,429 Equity in (Losses) Earnings of Affiliates, Net (353 ) 91,503 (757 ) 95,555 Interest Expense, Net (9,293 ) (7,916 ) (17,255 ) (16,137 ) Other Income, Net 11,678 268,114 10,573 401,387 Income from Continuing Operations Before Income Taxes $ 90,927 $ 453,261 $ 128,011 $ 661,234 Depreciation of Property, Plant and Equipment Education $ 21,980 $ 15,372 $ 40,508 $ 31,788 Cable 35,405 33,788 71,753 67,575 Television broadcasting 2,125 2,039 4,234 4,033 Other businesses 1,254 780 2,556 1,300 Corporate office 250 10 508 510 $ 61,014 $ 51,989 $ 119,559 $ 105,206 Amortization of Intangible Assets and Impairment of Long-lived Assets Education $ 8,343 $ 1,798 $ 9,850 $ 3,722 Cable 30 59 61 94 Television broadcasting 63 — 126 — Other businesses 3,117 1,138 6,285 1,896 Corporate office — — — — $ 11,553 $ 2,995 $ 16,322 $ 5,712 Net Pension (Credit) Expense Education $ 3,947 $ 3,566 $ 7,894 $ 7,709 Cable 975 888 1,950 1,752 Television broadcasting 391 358 782 678 Other businesses 186 202 379 366 Corporate office (16,939 ) (22,933 ) (33,877 ) (40,612 ) $ (11,440 ) $ (17,919 ) $ (22,872 ) $ (30,107 ) Asset information for the Company’s business segments are as follows: As of (in thousands) June 30, December 31, Identifiable Assets Education $ 1,576,872 $ 1,781,543 Cable television 1,357,414 1,253,764 Television broadcasting 305,857 305,426 Other businesses 479,049 518,807 Corporate office 1,016,812 524,627 $ 4,736,004 $ 4,384,167 Investments in Marketable Equity Securities 173,460 193,793 Investments in Affiliates 50,898 19,811 Prepaid Pension Cost 1,175,521 1,152,488 Assets Held for Sale 46,057 2,060 Total Assets $ 6,181,940 $ 5,752,319 The Company’s education division comprises the following operating segments: Three Months Ended Six Months Ended June 30 June 30 (in thousands) 2015 2014 2015 2014 Operating Revenues Higher education $ 240,717 $ 251,936 $ 478,285 $ 505,715 Test preparation 80,381 81,098 149,607 148,902 Kaplan international 200,703 209,045 392,784 407,892 Kaplan corporate and other 1,959 1,385 3,818 3,399 Intersegment elimination (135 ) (500 ) (267 ) (790 ) $ 523,625 $ 542,964 $ 1,024,227 $ 1,065,118 Income (Loss) from Operations Higher education $ 24,764 $ 20,952 $ 25,357 $ 34,096 Test preparation 7,079 (3,904 ) 2,745 (10,532 ) Kaplan international 17,573 16,898 25,290 26,756 Kaplan corporate and other (33,594 ) (16,401 ) (60,451 ) (30,957 ) Intersegment elimination 26 92 58 136 $ 15,848 $ 17,637 $ (7,001 ) $ 19,499 Depreciation of Property, Plant and Equipment Higher education $ 4,794 $ 7,080 $ 9,622 $ 14,820 Test preparation 2,263 3,072 5,153 6,856 Kaplan international 5,073 4,916 9,727 9,596 Kaplan corporate and other 9,850 304 16,006 516 $ 21,980 $ 15,372 $ 40,508 $ 31,788 Amortization of Intangible Assets $ 1,467 $ 1,798 $ 2,974 $ 3,722 Impairment of Long-lived Assets $ 6,876 $ — $ 6,876 $ — Pension Expense Higher education $ 2,532 $ 2,629 $ 5,064 $ 5,257 Test preparation 775 722 1,550 1,444 Kaplan international 106 89 212 178 Kaplan corporate and other 534 126 1,068 830 $ 3,947 $ 3,566 $ 7,894 $ 7,709 Identifiable assets for the Company’s education division consist of the following: As of (in thousands) June 30, December 31, Identifiable assets Higher education $ 544,306 $ 749,421 Test preparation 155,304 167,055 Kaplan international 836,010 838,148 Kaplan corporate and other 41,252 26,919 $ 1,576,872 $ 1,781,543 |