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8-K
GRAHAM HOLDINGS CO filed this Form 8-K on 02/23/2018
Entire Document
 

GRAHAM HOLDINGS COMPANY
EDUCATION DIVISION INFORMATION
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended
 
 
 
Twelve Months Ended
 
 
 
 
December 31
 
%
 
December 31
 
%
(in thousands)
 
2017
 
2016
 
Change
 
2017
 
2016
 
Change
Operating Revenues
 
  
 
 
 
 
 
  
 
 
 
 

Higher education
 
$
130,291

 
$
144,916

 
(10
)
 
$
547,264

 
$
617,047

 
(11
)
Test preparation
 
60,320

 
62,454

 
(3
)
 
273,298

 
286,556

 
(5
)
Kaplan international
 
190,431

 
184,294

 
3

 
697,999

 
696,362

 

Kaplan corporate and other
 
174

 
24

 

 
294

 
214

 
37

Intersegment elimination
 
(641
)
 
(452
)
 

 
(2,079
)
 
(1,718
)
 

 
 
$
380,575

 
$
391,236

 
(3
)
 
$
1,516,776

 
$
1,598,461

 
(5
)
Operating Expenses
 
  

 
  

 
 

 
  

 
  

 
 

Higher education
 
$
125,138

 
$
128,321

 
(2
)
 
$
502,987

 
$
550,415

 
(9
)
Test preparation
 
59,020

 
66,169

 
(11
)
 
261,791

 
276,957

 
(5
)
Kaplan international
 
168,710

 
158,833

 
6

 
647,269

 
647,964

 

Kaplan corporate and other
 
7,341

 
6,108

 
20

 
26,620

 
23,666

 
12

Amortization of intangible assets
 
1,364

 
2,358

 
(42
)
 
5,162

 
7,516

 
(31
)
Intersegment elimination
 
(820
)
 
(472
)
 

 
(2,222
)
 
(1,689
)
 

 
 
$
360,753

 
$
361,317

 

 
$
1,441,607

 
$
1,504,829

 
(4
)
Operating Income (Loss)
 
  

 
  

 
 

 
  

 
  

 
 

Higher education
 
$
5,153

 
$
16,595

 
(69
)
 
$
44,277

 
$
66,632

 
(34
)
Test preparation
 
1,300

 
(3,715
)
 

 
11,507

 
9,599

 
20

Kaplan international
 
21,721

 
25,461

 
(15
)
 
50,730

 
48,398

 
5

Kaplan corporate and other
 
(7,167
)
 
(6,084
)
 
(18
)
 
(26,326
)
 
(23,452
)
 
(12
)
Amortization of intangible assets
 
(1,364
)
 
(2,358
)
 
42

 
(5,162
)
 
(7,516
)
 
31

Intersegment elimination
 
179

 
20

 

 
143

 
(29
)
 

 
 
$
19,822

 
$
29,919

 
(34
)
 
$
75,169

 
$
93,632

 
(20
)
Depreciation
 
  

 
  

 
 

 
  

 
  

 
 

Higher education
 
$
2,710

 
$
4,497

 
(40
)
 
$
12,158

 
$
16,822

 
(28
)
Test preparation
 
1,206

 
1,450

 
(17
)
 
5,286

 
6,287

 
(16
)
Kaplan international
 
3,821

 
3,784

 
1

 
14,892

 
17,523

 
(15
)
Kaplan corporate and other
 
175

 
134

 
31

 
570

 
555

 
3

 
 
$
7,912

 
$
9,865

 
(20
)
 
$
32,906

 
$
41,187

 
(20
)
Pension Expense
 
 
 
  

 
 

 
  

 
 
 
 

Higher education
 
$
1,546

 
$
1,905

 
(19
)
 
$
6,182

 
$
7,620

 
(19
)
Test preparation
 
689

 
768

 
(10
)
 
2,755

 
3,072

 
(10
)
Kaplan international
 
959

 
67

 

 
1,157

 
268

 

Kaplan corporate and other
 
130

 
98

 
33

 
519

 
843

 
(38
)
 
 
$
3,324

 
$
2,838

 
17

 
$
10,613

 
$
11,803

 
(10
)


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