Washington Post 2009 Annual Report Download - page 15

PART I
Item 1. Business.
The Washington Post Company (the “Company”) is a diversified education and media company. The Company’s Kaplan
subsidiary provides a wide variety of educational services, both domestically and outside the United States. The
Company’s media operations consist of the ownership and operation of cable television systems, newspaper publishing
(principally The Washington Post), television broadcasting (through the ownership and operation of six television
broadcast stations) and magazine publishing (Newsweek).
Information concerning the consolidated operating revenues, consolidated income from operations and identifiable assets
attributable to the principal segments of the Company’s business for the last three fiscal years is contained in Note Q to
the Company’s Consolidated Financial Statements appearing elsewhere in this Annual Report on Form 10-K. (Revenues
for each segment are shown in Note Q gross of intersegment sales. Consolidated revenues are reported net of
intersegment sales, which did not exceed 0.2% of consolidated operating revenues.)
The Company’s operations in geographic areas outside the United States consist primarily of Kaplan’s foreign operations
and the publication of the international editions of Newsweek. During the fiscal years 2009, 2008 and 2007, these
operations accounted for approximately 12%, 13% and 12%, respectively, of the Company’s consolidated revenues, and
the identifiable assets attributable to foreign operations represented approximately 13%, 13% and 11% of the Company’s
consolidated assets at January 3, 2010, December 28, 2008, and December 30, 2007, respectively.
Education
Kaplan, Inc., a subsidiary of the Company, provides an extensive range of education and related services worldwide for
students and professionals. Effective in the third quarter of 2009, Kaplan reorganized its operations into four segments:
Kaplan Higher Education, Kaplan Test Preparation, Kaplan International and Kaplan Ventures.
The following table presents the net revenue for the three years ended December 31, 2009, 2008, and 2007 for each
of Kaplan’s reportable segments:
(in millions)
Year Ended December 31
2009 2008 2007
Kaplan Higher Education ............. $1,539.6 $1,160.1 $ 933.3
Kaplan Test Preparation .............. 445.0 507.1 554.8
Kaplan International ................. 537.2 545.1 442.2
Kaplan Ventures .................... 124.2 126.2 105.8
Kaplan Corporate and Intersegment
Eliminations ..................... (9.4) (6.9) (5.2)
Net Revenue ..................... $2,636.6 $2,331.6 $2,030.9
See Note Q to the Company’s Consolidated Financial Statements for the segment information required by Items 101(b)
and 101(d) of Regulation S-K.
Kaplan Higher Education
Kaplan Higher Education provides a wide array of certificate, diploma and degree programs—on campus and online—
designed to meet the needs of students seeking to advance their education and career goals.
In 2009, Kaplan’s U.S. based higher education division included the following businesses: Kaplan University and Kaplan
Higher Education Campuses. Each of these businesses is described briefly below.
Kaplan University
Kaplan University specializes in online education, is accredited by the Higher Learning Commission of the North Central
Association of Colleges and Schools and holds other programmatic accreditations. Most of Kaplan University’s programs
are offered online, while others are offered in a traditional classroom format at ten campuses in Iowa, Nebraska and
Maryland. Kaplan University also includes Concord Law School, the nation’s first fully online law school. At year-end
2009, Kaplan University had approximately 60,400 students enrolled in online programs and 5,120 students enrolled in
its classroom-based programs.
2009 FORM 10-K 1