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SEC Filings

8-K
GRAHAM HOLDINGS CO filed this Form 8-K on 08/02/2017
Entire Document
 


GRAHAM HOLDINGS COMPANY
EDUCATION DIVISION INFORMATION
(Unaudited)
 
 
 
 
 
 
 
 
 
  
 
Three Months Ended
 
  
 
Six Months Ended
 
  
  
 
June 30
 
%
 
June 30
 
%
(in thousands)
 
2017
 
2016
 
Change
 
2017
 
2016
 
Change
Operating Revenues
 
  
 
  
 
  
 
  
 
  
 
  
Higher education
 
$
139,204

 
$
157,980

 
(12
)
 
$
283,514

 
$
323,529

 
(12
)
Test preparation
 
75,730

 
79,349

 
(5
)
 
140,298

 
145,811

 
(4
)
Kaplan international
 
171,747

 
182,325

 
(6
)
 
336,309

 
351,612

 
(4
)
Kaplan corporate and other
 
57

 
18

 

 
71

 
143

 
(50
)
Intersegment elimination
 
(239
)
 
(459
)
 

 
(796
)
 
(806
)
 

  
 
$
386,499

 
$
419,213

 
(8
)
 
$
759,396

 
$
820,289

 
(7
)
Operating Expenses
 
  

 
  

 
  

 
  

 
  

 
  

Higher education
 
$
121,493

 
$
140,743

 
(14
)
 
$
253,199

 
$
284,986

 
(11
)
Test preparation
 
69,989

 
72,313

 
(3
)
 
137,421

 
141,085

 
(3
)
Kaplan international
 
155,793

 
165,846

 
(6
)
 
312,648

 
330,236

 
(5
)
Kaplan corporate and other
 
5,185

 
6,125

 
(15
)
 
12,548

 
13,974

 
(10
)
Amortization of intangible assets
 
1,323

 
1,704

 
(22
)
 
2,443

 
3,385

 
(28
)
Intersegment elimination
 
(209
)
 
(410
)
 

 
(819
)
 
(757
)
 

  
 
$
353,574

 
$
386,321

 
(8
)
 
$
717,440

 
$
772,909

 
(7
)
Operating Income (Loss)
 
  

 
  

 
  

 
  

 
  

 
  

Higher education
 
$
17,711

 
$
17,237

 
3

 
$
30,315

 
$
38,543

 
(21
)
Test preparation
 
5,741

 
7,036

 
(18
)
 
2,877

 
4,726

 
(39
)
Kaplan international
 
15,954

 
16,479

 
(3
)
 
23,661

 
21,376

 
11

Kaplan corporate and other
 
(5,128
)
 
(6,107
)
 
16

 
(12,477
)
 
(13,831
)
 
10

Amortization of intangible assets
 
(1,323
)
 
(1,704
)
 
22

 
(2,443
)
 
(3,385
)
 
28

Intersegment elimination
 
(30
)
 
(49
)
 

 
23

 
(49
)
 

  
 
$
32,925

 
$
32,892

 

 
$
41,956

 
$
47,380

 
(11
)
Depreciation
 
  

 
  

 
  

 
  

 
  

 
  

Higher education
 
$
3,249

 
$
3,993

 
(19
)
 
$
6,680

 
$
8,168

 
(18
)
Test preparation
 
1,332

 
1,615

 
(18
)
 
2,673

 
3,396

 
(21
)
Kaplan international
 
3,609

 
4,319

 
(16
)
 
7,291

 
9,379

 
(22
)
Kaplan corporate and other
 
135

 
315

 
(57
)
 
265

 
402

 
(34
)
  
 
$
8,325

 
$
10,242

 
(19
)
 
$
16,909

 
$
21,345

 
(21
)
Pension Expense
 
 
 
  

 
  

 
  

 
 
 
  

Higher education
 
$
2,044

 
$
1,905

 
7

 
$
4,088

 
$
3,810

 
7

Test preparation
 
911

 
768

 
19

 
1,822

 
1,536

 
19

Kaplan international
 
87

 
67

 
30

 
174

 
134

 
30

Kaplan corporate and other
 
(889
)
 
278

 

 
(1,225
)
 
647

 

  
 
$
2,153

 
$
3,018

 
(29
)
 
$
4,859

 
$
6,127

 
(21
)

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