Washington Post 2010 Annual Report Download - page 106

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The Company’s education division comprises the following operating segments:
Fiscal Year Ended
(in thousands) 2010 2009 2008
Operating revenues
Higher education ................................................................... $1,789,038 $1,539,196 $1,160,063
Test preparation1................................................................... 415,678 442,136 511,665
Kaplan international ................................................................. 585,924 537,238 545,070
Kaplan ventures2................................................................... 114,029 126,418 121,664
Kaplan corporate and other ........................................................... 5,537 2,436 1,450
Intersegment elimination .............................................................. (8,395) (10,786) (8,332)
$2,901,811 $2,636,638 $2,331,580
Income (loss) from operations
Higher education ................................................................... $ 396,193 $ 279,765 $ 174,707
Test preparation1................................................................... (24,044) (20,895) 31,313
Kaplan international ................................................................. 56,152 53,772 59,957
Kaplan ventures2................................................................... (30,723) (16,421) (2,924)
Kaplan corporate and other ........................................................... (66,441) (101,770) (56,527)
Intersegment elimination .............................................................. (234) 310 (224)
$ 330,903 $ 194,761 $ 206,302
Depreciation of property, plant and equipment
Higher education ................................................................... $ 40,061 $ 37,843 $ 30,637
Test preparation .................................................................... 17,077 23,462 17,407
Kaplan international ................................................................. 12,839 11,438 11,282
Kaplan ventures .................................................................... 4,633 4,435 3,850
Kaplan corporate and other ........................................................... 3,851 4,300 4,153
$ 78,461 $ 81,478 $ 67,329
Amortization of intangible assets ........................................................... $ 21,855 $ 22,223 $ 15,472
Impairment of goodwill and other long-lived assets ............................................ $—$ 25,387 $ —
Kaplan stock-based incentive compensation (credit) expense ..................................... $ (1,179) $ 933 $ (7,829)
Capital expenditures
Higher education ................................................................... $ 57,438 $ 66,808 $ 46,739
Test preparation .................................................................... 34,448 19,610 29,087
Kaplan international ................................................................. 14,163 13,900 14,767
Kaplan ventures .................................................................... 3,732 4,378 3,776
Kaplan corporate and other ........................................................... 5,109 1,641 4,922
$ 114,890 $ 106,337 $ 99,291
Identifiable assets
Higher education ................................................................... $ 940,727 $ 920,039 $ 675,783
Test preparation .................................................................... 433,975 393,399 420,020
Kaplan international ................................................................. 675,122 671,306 652,838
Kaplan ventures .................................................................... 127,740 143,399 255,917
Kaplan corporate and other ........................................................... 19,713 60,185 75,479
$2,197,277 $2,188,328 $2,080,037
1Test preparation amounts include revenues and operating losses from Score as follows (in thousands):
Revenue
Operating
Loss
2010 ........................................................................... $—$ —
2009 ........................................................................... $ 8,557 $(36,787)
2008 ........................................................................... $28,672 $(13,278)
2Kaplan Ventures amounts include revenues and operating income from Education Connection as follows (in thousands):
Revenue
Operating
Income
2010 ........................................................................... $10,945 $1,721
2009 ........................................................................... $29,242 $3,619
2008 ........................................................................... $19,998 $3,729
90 THE WASHINGTON POST COMPANY