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8-K
GRAHAM HOLDINGS CO filed this Form 8-K on 11/01/2017
Entire Document
 


GRAHAM HOLDINGS COMPANY
EDUCATION DIVISION INFORMATION
(Unaudited)
 
 
 
 
 
 
 
 
 
  
 
Three Months Ended
 
  
 
Nine Months Ended
 
  
  
 
September 30
 
%
 
September 30
 
%
(in thousands)
 
2017
 
2016
 
Change
 
2017
 
2016
 
Change
Operating Revenues
 
  
 
  
 
  
 
  
 
  
 
  
Higher education
 
$
133,459

 
$
148,602

 
(10
)
 
$
416,973

 
$
472,131

 
(12
)
Test preparation
 
72,680

 
78,291

 
(7
)
 
212,978

 
224,102

 
(5
)
Kaplan international
 
171,259

 
160,456

 
7

 
507,568

 
512,068

 
(1
)
Kaplan corporate and other
 
49

 
47

 
4

 
120

 
190

 
(37
)
Intersegment elimination
 
(642
)
 
(460
)
 

 
(1,438
)
 
(1,266
)
 

  
 
$
376,805

 
$
386,936

 
(3
)
 
$
1,136,201

 
$
1,207,225

 
(6
)
Operating Expenses
 
  

 
  

 
  

 
  

 
  

 
  

Higher education
 
$
124,650

 
$
137,108

 
(9
)
 
$
377,849

 
$
422,094

 
(10
)
Test preparation
 
65,350

 
69,703

 
(6
)
 
202,771

 
210,788

 
(4
)
Kaplan international
 
165,911

 
158,895

 
4

 
478,559

 
489,131

 
(2
)
Kaplan corporate and other
 
6,731

 
3,584

 
88

 
19,279

 
17,558

 
10

Amortization of intangible assets
 
1,355

 
1,773

 
(24
)
 
3,798

 
5,158

 
(26
)
Intersegment elimination
 
(583
)
 
(460
)
 

 
(1,402
)
 
(1,217
)
 

  
 
$
363,414

 
$
370,603

 
(2
)
 
$
1,080,854

 
$
1,143,512

 
(5
)
Operating Income (Loss)
 
  

 
  

 
  

 
  

 
  

 
  

Higher education
 
$
8,809

 
$
11,494

 
(23
)
 
$
39,124

 
$
50,037

 
(22
)
Test preparation
 
7,330

 
8,588

 
(15
)
 
10,207

 
13,314

 
(23
)
Kaplan international
 
5,348

 
1,561

 

 
29,009

 
22,937

 
26

Kaplan corporate and other
 
(6,682
)
 
(3,537
)
 
(89
)
 
(19,159
)
 
(17,368
)
 
(10
)
Amortization of intangible assets
 
(1,355
)
 
(1,773
)
 
24

 
(3,798
)
 
(5,158
)
 
26

Intersegment elimination
 
(59
)
 

 

 
(36
)
 
(49
)
 

  
 
$
13,391

 
$
16,333

 
(18
)
 
$
55,347

 
$
63,713

 
(13
)
Depreciation
 
  

 
  

 
  

 
  

 
  

 
  

Higher education
 
$
2,768

 
$
4,157

 
(33
)
 
$
9,448

 
$
12,325

 
(23
)
Test preparation
 
1,407

 
1,441

 
(2
)
 
4,080

 
4,837

 
(16
)
Kaplan international
 
3,780

 
4,360

 
(13
)
 
11,071

 
13,739

 
(19
)
Kaplan corporate and other
 
130

 
19

 

 
395

 
421

 
(6
)
  
 
$
8,085

 
$
9,977

 
(19
)
 
$
24,994

 
$
31,322

 
(20
)
Pension Expense
 
 
 
  

 
  

 
  

 
 
 
  

Higher education
 
$
548

 
$
1,905

 
(71
)
 
$
4,636

 
$
5,715

 
(19
)
Test preparation
 
244

 
768

 
(68
)
 
2,066

 
2,304

 
(10
)
Kaplan international
 
24

 
67

 
(64
)
 
198

 
201

 
(1
)
Kaplan corporate and other
 
1,614

 
98

 

 
389

 
745

 
(48
)
  
 
$
2,430

 
$
2,838

 
(14
)
 
$
7,289

 
$
8,965

 
(19
)

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