Washington Post 2009 Annual Report Download - page 95

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The Company’s education division comprises the following operating segments:
Fiscal Year Ended
(in thousands) 2009 2008 2007
Operating revenues
Higher education ............................................................ $1,539,587 $1,160,062 $ 933,286
Test preparation1............................................................ 444,995 507,112 554,840
Kaplan international .......................................................... 537,238 545,070 442,200
Kaplan ventures ............................................................. 124,250 126,242 105,806
Kaplan corporate and other .................................................... 1,354 1,426 1,261
Intersegment elimination ....................................................... (10,786) (8,332) (6,504)
$2,636,638 2,331,580 $2,030,889
Income (loss) from operations
Higher education ............................................................ $ 274,753 $ 172,897 $ 123,535
Test preparation1............................................................ (15,582) 34,302 57,987
Kaplan international .......................................................... 53,772 59,957 54,962
Kaplan ventures ............................................................. (16,332) (3,844) 1,596
Kaplan corporate and other .................................................... (102,160) (56,786) (88,736)
Intersegment elimination ....................................................... 310 (224) (307)
$ 194,761 $ 206,302 $ 149,037
Depreciation of property, plant and equipment
Higher education ............................................................ $ 37,874 $ 30,637 $ 27,120
Test preparation ............................................................. 22,852 16,427 16,459
Kaplan international .......................................................... 11,438 11,282 9,818
Kaplan ventures ............................................................. 5,099 4,907 4,212
Kaplan corporate and other .................................................... 4,215 4,076 3,377
$ 81,478 $ 67,329 $ 60,986
Amortization of intangible assets .................................................... $ 22,223 $ 15,472 $ 14,670
Impairment of goodwill and other long-lived assets ..................................... $ 25,387 $—$—
Kaplan stock-based incentive compensation expense .................................... $ 933 $ (7,829) $ 41,294
Capital expenditures
Higher education ............................................................ $ 67,233 $ 46,399 $ 27,457
Test preparation ............................................................. 18,397 27,942 37,541
Kaplan international .......................................................... 13,900 14,767 20,068
Kaplan ventures ............................................................. 5,374 5,347 4,576
Kaplan corporate and other .................................................... 1,433 4,836 7,481
$ 106,337 $ 99,291 $ 97,123
Identifiable assets
Higher education ............................................................ $ 865,691 $ 720,717 $ 628,778
Test preparation ............................................................. 333,591 345,647 336,042
Kaplan international .......................................................... 625,662 607,194 574,135
Kaplan ventures ............................................................. 304,985 332,361 338,418
Kaplan corporate and other .................................................... 58,399 74,118 53,152
$2,188,328 $2,080,037 $1,930,525
1Test preparation amounts include revenues and operating losses from Score as follows (in thousands):
Revenue Operating
Loss
2009 ......................................................................... $ 8,557 $ (36,787)
2008 ..................................................................... 28,672 (13,278)
2007 ..................................................................... 55,830 (23,228)
2009 FORM 10-K 81