DOCSLIB.ORG

2013 Annual Report Revenue by Principal Operations

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2013 Annual Report Revenue by Principal Operations 2013 ANNUAL REPORT REVENUE BY PRINCIPAL OPERATIONS n EDUCATION 62% n CABLE 23% n TELEVISION BROADCASTING 11% n OTHER BUSINESSES 4% FINANCIAL HIGHLIGHTS (in thousands, except per share amounts) 2013 2012 Change Operating revenues $ 3,487,864 $ 3,455,570 1% Income from operations $ 345,565 $ 179,1 80 93% Net income attributable to common shares $ 236,010 $ 131,21 8 80% Diluted earnings per common share from continuing operations $ 25.78 $ 9.22 — Diluted earnings per common share $ 32.05 $ 17.39 84% Dividends per common share $ — $ 19.60 — Common stockholders’ equity per share $ 446.73 $ 348.1 7 28% Diluted average number of common shares outstanding 7,333 7,404 – 1 % OPERATING REVENUES INCOME FROM OPERATIONS ($ in millions) ($ in millions) 20 1 3 3,488 20 1 3 346 20 1 2 3,456 20 1 2 179 2 0 1 1 3,526 2 0 1 1 334 20 1 0 3,936 20 1 0 602 2009 3,563 2009 453 NET INCOME ATTRIBUTABLE TO COMMON SHARES RETURN ON AVERAGE COMMON ($ in millions) STOCKHOLDERS’ EQUITY* 20 1 3 236 20 1 3 9.0% 20 1 2 1 3 1 20 1 2 5.2% 2 0 1 1 1 16 2 0 1 1 4.4% 20 1 0 277 20 1 0 9.8% 2009 92 2009 3. 1% DILUTED EARNINGS PER COMMON SHARE DILUTED EARNINGS PER COMMON SHARE FROM CONTINUING OPERATIONS ($) ($) 20 1 3 25.78 20 1 3 32.05 20 1 2 9.22 20 1 2 17.39 2 0 1 1 19.03 2 0 1 1 14.70 20 1 0 39.65 20 1 0 31.04 2009 28.16 2009 9.78 * Computed on a comparable basis, excluding the impact of the adjustment for pensions and other postretirement plans on average common stockholders’ equity. 1 | GRAHAM HOLDINGS COMPANY To Our Shareholders As you may have heard, we sold The Washington 3 3 3 Post to Jeff Bezos, the founder of Amazon.com, last year. Our Company owns three large businesses. The largest profit-earner in 2013 (narrowly) was Obviously, this was the most important thing Post–Newsweek Stations. our Company did in the past 12 months. But I’d like to spend most of this report on the future The year strengthened our belief that PNS has of the Company we own today, now known an excellent CEO in Emily Barr, who completed as Graham Holdings. Following this letter, I’ve her first full year. included the statement I made about the sale at the time it was announced. The only thing I’d Profits in local TV are much greater in even- add is that after four months, Jeff appears to numbered (election and Olympic) years than be as good an owner as I had hoped. The paper in odd-numbered years. But 2013, when PNS itself is excellent. made $171 million in operating income, far out- stripped 2011 ($117 million). And, 2014 should 3 3 3 be outstanding: our two largest stations are NBC affiliates and aired the Winter Olympics; The sale and a couple of related events had a Florida, Michigan and Texas will have contested positive impact on our balance sheet. At year- statewide elections. end we had almost $1.2 billion in cash and secu- rities against $451 million in debt. We welcomed Bert Medina, a longtime Miami broadcaster, to lead WPLG and to broaden This cash position will be strengthened some- its reach in the market. Our Detroit and San time in 2014: we’ve announced the sale of Antonio stations and our amazing Jacksonville the Post building at 1150 15th Street, NW, to independent continued to lead their markets in Carr Properties for $159 million pre-tax. The news. Houston and Orlando had genuine rat- cash should hit our balance sheet in the first ings momentum as the year ended. half of the year. We’ve also announced our intention to sell some land on the Alexandria, 3 3 3 Virginia, waterfront (less valuable than the Post site, but meaningful). This may take place in Headquartered in Phoenix and serving smaller 2014 as well. markets in the West, Midwest and South, Cable AS YOU MAY HAVE HEARD, WE SOLD THE WASHINGTON POST TO JEFF BEZOS, THE FOUNDER OF AMAZON.COM, LAST YEAR. 2 | GRAHAM HOLDINGS COMPANY MUCH OF THIS REPORT WILL FOCUS ON THE FUTURE OF KAPLAN AND, PARTICU- LARLY, ON WHAT SEEMS TO ME A TRULY ILLOGICAL AND UNREASONING THREAT TO OUR U.S. HIGHER EDUCATION BUSINESS. ONE continues to move astutely with rapidly could perform as well as “the big guys” all these changing times. years, when programming and technology costs always threaten to increase significantly. But We once had a monopoly in video program- with clever management who think outside the ming in our markets. Those days seem long box, Cable ONE has thrived without economies ago, but Cable ONE management has smartly of scale. The next couple of years look good. modified its strategy to stay ahead. 3 3 3 We now focus on the lifetime value of subscribers more than on the absolute number of subscrib- Much of this report will focus on the future of ers. Today, Cable ONE carefully targets marketing Kaplan and, particularly, on what seems to me and service at customers who produce the great- a truly illogical and unreasoning threat to our est free cash flow. They are more likely to buy U.S. higher education business. Internet service than video service, they churn away less and they pay on time. Cable ONE now Absent such a regulatory threat, the outlook for installs 75% more new Internet customers each Kaplan and for each of Kaplan’s businesses would month than new video customers. Bad debt is be bright. I’ll deal with the regulatory issues last. down 30% compared to 2012. Sales to business customers is our other focus—and for good rea- Kaplan Test Prep came back after down years sons. Business sales were up more than 20% for in 2011 and 2012. You couldn’t have had a much the fourth straight year. With higher revenue and worse test-taking climate—the decline in LSAT lower churn than residential customers, business test-takers was widely written about, and GMAT customers also have superior lifetime value. test-takers fell, too. But KTP improved its posi- tion this year—another strong performance by Cable ONE is changing, rapidly and dramati- veteran CEO John Polstein and his team, who cally, along with its industry. There’s no telling promised improvement and came through. what all the changes will mean to Cable ONE long term, but so far, so good. Since 1993, when Meanwhile, Kaplan International, a division made CEO Tom Might moved there, the company has up of many businesses in many countries, had evolved at speed and as needed to stay ahead. It another strong year. One disappointing 2011 acqui- seems unreasonable that such a small company sition in Australia has cost us $65 million. Those 2013 ANNUAL REPORT | 3 THE U.S. SHOULD BECOME NUMBER ONE IN THE WORLD AGAIN IN THE PERCENT- AGE OF ADULTS WHO GRADUATE FROM COLLEGE. costs are done with, and Kaplan International, I agree with all these, and so do Andy Rosen and under David Jones, looks good as 2014 begins. We Tom Leppert, Kaplan’s top executives. We’d dif- see plenty of room for growth ahead, and we start fer from the administration with the measure- with a platform of high-quality programs. Kaplan’s ment of the last item only. The administration institutions received top rankings in three of our would like to measure the salaries of recent key international markets: Singapore, for most- graduates. Since this means that the measured preferred private higher education institution; value of a degree would vary with the econ- the U.K., for student satisfaction in online higher omy (the salaries of recent graduates at every education; and Ireland, for best business school. university were better in 2007 than in 2009), it seems to make more sense to measure what Our U.S. higher education business is in ques- students actually learn while they are enrolled. tion, not because Kaplan doesn’t offer good But this is a small difference. programs or because students don’t want them. Lower cost. More access for low-income stu- To begin with, the Obama administration’s broad dents. Better learning outcomes. Kaplan is policy on higher education seems to me exactly working on all these things. And, we’d love to right. It’s also clear: the U.S. should become work collaboratively with the administration. number one in the world again in the percent- age of adults who graduate from college. Here’s the problem: the administration’s agenda is different when it comes to private-sector The administration argues: (“for-profit”) higher education. Their agenda does not focus on helping students if they 3 To achieve this, colleges have to control their choose private-sector institutions. It seems to tuition costs. focus on punishing companies in the sector, and on punishing them no matter how good a 3 All colleges should focus on enrolling more job they do at educating low-income students. lower-income students and on seeing to it that they graduate. In 2010, the administration proposed drastic new regulations for colleges like Kaplan—regulations 3 The degree itself should be valuable. that applied, for the most part, only to colleges 4 | GRAHAM HOLDINGS COMPANY in the private sector. These regulations sought 3.
Load more

Recommended publications
  • Graham Holdings Company 2014 Annual Report
    GRAHAM HOLDINGS 2014 ANNUAL REPORT REVENUE BY PRINCIPAL OPERATIONS n EDUCATION 61% n CABLE 23% n TELEVISION BROADCASTING 10% n OTHER BUSINESSES 6% FINANCIAL HIGHLIGHTS (in thousands, except per share amounts) 2014 2013 Change Operating revenues $ 3,535,166 $ 3,407,911 4% Income from operations $ 407,932 $ 319,169 28% Net income attributable to common shares $ 1,292,996 $ 236,010 — Diluted earnings per common share from continuing operations $ 138.88 $ 23.36 — Diluted earnings per common share $ 195.03 $ 32.05 — Dividends per common share $ 10.20 $ — — Common stockholders’ equity per share $ 541.54 $ 446.73 21% Diluted average number of common shares outstanding 6,559 7,333 –11% INCOME FROM NET INCOME ATTRIBUTABLE OPERATING REVENUES OPERATIONS TO COMMON SHARES ($ in millions) ($ in millions) ($ in millions) 3,861 582 1,293 3,453 3,535 3,373 3,408 408 314 319 149 277 236 116 131 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 RETURN ON DILUTED EARNINGS PER AVERAGE COMMON COMMON SHARE FROM DILUTED EARNINGS STOCKHOLDERS’ EQUITY* CONTINUING OPERATIONS PER COMMON SHARE ($) ($) 46.6% 138.88 195.03 38.16 9.8% 9.0% 23.36 31.04 32.05 5.2% 17.32 4.4% 14.70 17.39 6.40 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 * Computed on a comparable basis, excluding the impact of the adjustment for pensions and other postretirement plans on average common stockholders’ equity. 2014 ANNUAL REPORT 1 To OUR SHAREHOLDERS Quite a lot happened in 2014.
    [Show full text]
  • Martha L. Minow
    Martha L. Minow 1525 Massachusetts Avenue Griswold 407, Harvard Law School Cambridge, MA 02138 (617) 495-4276 [email protected] Current Academic Appointments: 300th Anniversary University Professor, Harvard University Harvard University Distinguished Service Professor Faculty, Harvard Graduate School of Education Faculty Associate, Carr Center for Human Rights, Harvard Kennedy School of Government Current Activities: Advantage Testing Foundation, Vice-Chair and Trustee American Academy of Arts and Sciences, Access to Justice Project American Bar Association Center for Innovation, Advisory Council American Law Institute, Member Berkman Klein Center for Internet and Society, Harvard University, Director Campaign Legal Center, Board of Trustees Carnegie Corporation, Board of Trustees Committee to Visit the Harvard Business School, Harvard University Board of Overseers Facing History and Ourselves, Board of Scholars Harvard Data Science Review, Associate Editor Initiative on Harvard and the Legacy of Slavery Law, Violence, and Meaning Series, Univ. of Michigan Press, Co-Editor MacArthur Foundation, Director MIT Media Lab, Advisory Council MIT Schwarzman College of Computing, Co-Chair, External Advisory Council National Academy of Sciences' Committee on Science, Technology, and Law Profiles in Courage Award Selection Committee, JFK Library, Chair Russell Sage Foundation, Trustee Skadden Fellowship Foundation, Selection Trustee Susan Crown Exchange Foundation, Trustee WGBH Board of Trustees, Trustee Education: Yale Law School, J.D. 1979 Articles and Book Review Editor, Yale Law Journal, 1978-1979 Editor, Yale Law Journal, 1977-1978 Harvard Graduate School of Education, Ed.M. 1976 University of Michigan, A.B. 1975 Phi Beta Kappa, Magna Cum Laude James B. Angell Scholar, Branstrom Prize New Trier East High School, Winnetka, Illinois, 1968-1972 Honors and Fellowships: Leo Baeck Medal, Nov.
    [Show full text]
  • Cs Title Court Id Maurice Elias V. Mabek Co, Et Al Cacdce Japhet Lopez, Et Al V
    cs_title court_id Maurice Elias v. Mabek Co, et al cacdce Japhet Lopez, et al v. Denny's Inc, et al cacdce Jarek Molski et al v. Arby's Huntington Beach et al cacdce Les Jankey et al v. Mister Ds Liquor Market et al cacdce Les Jankey et al v. Moons Market et al cacdce Mimi Greenberg v. Lindfield Inc et al cacdce Frank J Pairis Sr v. Citrus Valley Health Foundation et al cacdce Byron Chapman v. Ahmed S Siddiqui et al cacdce Joe Babakanian v. Thomas Chow et al cacdce Joe Babakanian v. K Mart Corporation et al cacdce Babakanian v. El Toro Shopping Center et al cacdce Babakanian et al v. Buchheim Properties III cacdce Joe Babakanian v. Bank Of America Corporation et al cacdce Joe Babakanian v. Popeyes et al cacdce Joe Babakanian v. International House of Pancakes Inc et al cacdce Dung Le et al v. Anaheim City School District et al cacdce Disabled Rights Union on Behalf of Michael Rifkin and its Members v. Rome Tailor et al cacdce Juan Moreno v. Cal West Distributors Inc et al cacdce Mary Winic et al v. Mr Cecils California Ribs #1 LLC et al cacdce Disabled Rights Union v. Sizzler Family Steakhouse #453 et al cacdce K Moore v. Los Angeles Unified School District et al cacdce Charles Tyler v. Prakash Patel et al cacdce Rosemarie Roggenkamp v. Kentucky Fried Chicken et al cacdce Rosemarie Roggenkamp v. IHOP Corp et al cacdce Rosemarie Roggenkamp v. Kentucky Fried Chicken et al cacdce Rosemarie Roggenkamp v. Keeno's et al cacdce Darryl Eversole v.
    [Show full text]
  • 2004 Annual Report Contents
    NEWSPAPER/ONLINE PUBLISHING TELEVISION BROADCASTING MAGAZINE PUBLISHING CABLE TELEVISION 04EDUCATION The Washington Post Company 2004 Annual Report Contents Financial Highlights, 1 Letter to Shareholders, 2 Corporate Directory, 12 Form 10-K Financial Highlights (in thousands, except per share amounts) 2004 2003 % Change Operating revenue $ 3,300,104 $ 2,838,911 + 16% Income from operations $ 563,006 $ 363,820 + 55% Net income $ 332,732 $ 241,088 + 38% Diluted earnings per common share $ 34.59 $ 25.12 + 38% Dividends per common share $ 7.00 $ 5.80 + 21% Common shareholders’ equity per share $ 251.93 $ 217.46 + 16% Diluted average number of common shares outstanding 9,592 9,555 – Operating Revenue Income from Operations Net Income ($ in millions) ($ in millions) ($ in millions) 04 3,300 04 563 04 333 03 2,839 03 364 03 241 02 2,584 02 378 02 204 01 2,411 01 220 01 230 00 2,410 00 340 00 136 Diluted Earnings Return on Average Common per Common Share Shareholders’ Equity ($) 04 34.59 04 14.8% 03 25.12 03 12.3% 02 21.34 02 11.5% 01 24.06 01 14.4% 00 14.32 00 9.5% 1 2004 ANNUAL REPORT A LETTER FROM DONALD E. GRAHAM To Our Shareholders For Red Sox fans and The Washington Post Company, 2004 was annus mirabilis, an amazing year. Many, many things went well for our company. Some were long planned and the result of careful work; others were strokes of luck. One statistic sums it up. Operating income of $563 million was $175 million higher than the best year we ever had, $388 million in 1999.
    [Show full text]
  • Alumni Magazine C2-C4camjf07 12/21/06 2:50 PM Page C2 001-001Camjf07toc 12/21/06 1:39 PM Page 1
    c1-c1CAMJF07 12/22/06 1:58 PM Page c1 January/February 2007 $6.00 alumni magazine c2-c4CAMJF07 12/21/06 2:50 PM Page c2 001-001CAMJF07toc 12/21/06 1:39 PM Page 1 Contents JANUARY / FEBRUARY 2007 VOLUME 109 NUMBER 4 alumni magazine Features 52 2 From David Skorton Residence life 4 Correspondence Under the hood 8 From the Hill Remembering “Superman.” Plus: Peres lectures, seven figures for Lehman, a time capsule discovered, and a piece of Poe’s coffin. 12 Sports Small players, big win 16 Authors 40 Pynchon goes Against the Day 40 Going the Distance 35 Camps DAVID DUDLEY For three years, Cornell astronomers have been overseeing Spirit 38 Wines of the Finger Lakes and Opportunity,the plucky pair of Mars rovers that have far out- 2005 Atwater Estate Vineyards lived their expected lifespans.As the mission goes on (and on), Vidal Blanc Associate Professor Jim Bell has published Postcards from Mars,a striking collection of snapshots from the Red Planet. 58 Classifieds & Cornellians in Business 112 46 Happy Birthday, Ezra 61 Alma Matters BETH SAULNIER As the University celebrates the 200th birthday of its founder on 64 Class Notes January 11, we ask: who was Ezra Cornell? A look at the humble Quaker farm boy who suffered countless financial reversals before 104 Alumni Deaths he made his fortune in the telegraph industry—and promptly gave it away. 112 Cornelliana What’s your Ezra I.Q.? 52 Ultra Man BRAD HERZOG ’90 18 Currents Every morning at 3:30, Mike Trevino ’95 ANATOMY OF A CAMPAIGN | Aiming for $4 billion cycles a fifty-mile loop—just for practice.
    [Show full text]
  • 2005 Annual Report 1 to Our Shareholders
    THE WASHINGTON POST COMPANY NEWSPAPER/ONLINE PUBLISHING TELEVISION BROADCASTING MAGAZINE PUBLISHING CABLE TELEVISION EDUCATION 2005 Annual Report CONTENTS Financial Highlights, 1 Letter to Shareholders, 2 Corporate Directory, 12 Form 10-K FINANCIAL HIGHLIGHTS (in thousands, except per share amounts) 2005 2004 % Change Operating revenue $ 3,553,887 $ 3,300,104 + 8% Income from operations $ 514,914 $ 563,006 – 9% Net income $ 314,344 $ 332,732 – 6% Diluted earnings per common share $ 32.59 $ 34.59 – 6% Dividends per common share $ 7.40 $ 7.00 + 6% Common shareholders’ equity per share $ 274.79 $ 251.11 + 9% Diluted average number of common shares outstanding 9,616 9,592 – OPERATING REVENUE INCOME FROM OPERATIONS NET INCOME ($ in millions) ($ in millions) ($ in millions) 05 3,554 05 515 05 314 04 3,300 04 563 04 333 03 2,839 03 364 03 241 02 2,584 02 378 02 204 01 2,411 01 220 01 230 DILUTED EARNINGS RETURN ON AVERAGE COMMON PER COMMON SHARE SHAREHOLDERS’ EQUITY ($) 05 32.59 05 12.4% 04 34.59 04 14.9% 03 25.12 03 12.3% 02 21.34 02 11.6% 01 24.06 01 14.4% 2005 ANNUAL REPORT 1 TO OUR SHAREHOLDERS 2005 was a somewhat disappointing year. Our newspaper, TV and magazine businesses turned in poor- er results than their managers expected when the year began. Cable ONE was having a spectacular year until Hurricane Katrina devastated our Mississippi Gulf Coast systems. Kaplan’s brick-and-mortar college business missed its goals badly, disappointing Jonathan Grayer and me. These are the facts, and I’ll set them out for you in detail.
    [Show full text]
  • The Washington Post Company 2003Annual Report
    The Washington Post Company 2003 Annual Report Contents Financial Highlights 01 To Our Shareholders 02 Corporate Directory 16 Form 10-K FINANCIAL HIGHLIGHTS (in thousands, except per share amounts) 2003 2002 % Change Operating revenue $ 2,838,911 $ 2,584,203 + 10% Income from operations $ 363,820 $ 377,590 – 4% Net income Before cumulative effect of change in accounting principle in 2002 $ 241,088 $ 216,368 + 11% After cumulative effect of change in accounting principle in 2002 $ 241,088 $ 204,268 + 18% Diluted earnings per common share Before cumulative effect of change in accounting principle in 2002 $ 25.12 $ 22.61 + 11% After cumulative effect of change in accounting principle in 2002 $ 25.12 $ 21.34 + 18% Dividends per common share $ 5.80 $ 5.60 + 4% Common shareholders’ equity per share $ 217.46 $ 193.18 + 13% Diluted average number of common shares outstanding 9,555 9,523 – Operating Revenue Income from Operations Net Income ($ in millions) ($ in millions) ($ in millions) 03 2,839 03 364 03 241 02 2,584 02 378 02 204 01 2,411 01 220 01 230 00 2,410 00 340 00 136 99 2,212 99 388 99 226 Diluted Earnings Return on Average Common per Common Share Shareholders’ Equity ($) 03 25.12 03 12.3% 02 21.34 02 11.5% 01 24.06 01 14.4% 00 14.32 00 9.5% 99 22.30 99 15.2% 01 The Washington Post Company The undramatic financial results of 2003—earnings per share a bit higher than last year’s—mask a year in which some important things happened at The Washington Post Company.
    [Show full text]
  • 2019-2020 Faculty Listing
    2019-2020 Faculty Listing Albany Campus Adjunct Faculty Cooper, Tomekia Adjunct Assistant Professor English M.A., English, Georgia Southwestern State University High, Connie Dr. Adjunct Assistant Professor Mathematics Ed.D., Leadership, Liberty University Jones, April Adjunct Assistant Professor Mathematics M.Ed., Mathematics Education, Albany State University Rucker, Kelly Adjunct Assistant Professor Perspectives M.A., Teaching and Learning with Technology, Ashford University Slack, Eugene Adjunct Assistant Professor History M.A., History, Valdosta State University 2019-2020 Faculty Listing Augusta Campus Full-time Faculty Akers, Samuel Handa, Dr. Vaishali Assistant Professor Assistant Professor Criminal Justice, Homeland Security Biology M.S., Criminal Justice, Grambling State University Ph.D., Life Sciences, Jawaharlal Nehru University Bakr, Dr. Adel A. Kay, Dr. Aman Professor Professor Physical Science Humanities Ph.D., Geoscience, New Mexico Institute of Mining Ed.D., Curriculum & Educational Management, New Mexico State Bland, James Associate Professor Khadka, Dr. Bal Mathematics Associate Professor M.S., Mathematics, Georgia Southern University Mathematics Ph.D., Mathematics, Florida Atlantic University Cairns, Ben Assistant Professor Kirbah, Dr. Salwa S. Political Science Professor M.A., Political Science, American Military University Biology, Chemistry M.A., History, American Military University D.V.M., Vet. Medicine, Cairo University Gafoor, Dr. Mohammed Lamarre, Lynda L. Assistant Professor Associate Professor Mathematics History Ph.D., Computer Science, Warren National M.A., History, Georgia Southern University University M.C.A., Computer Science, Osmania University Lehman, Dr. Thomas M.E., Education, Annamalai University Assistant Professor M.S., Statistics, Osmania University Education, Sociology Ph.D., Foundations of Education, Florida State Greene, Sharon University Associate Professor Accounting, Business, LSS Mathematics M.B.A., Business Admin.
    [Show full text]
  • 2016 Annual Report
    GRAHAM HOLDINGS GRAHAM HOLDINGS 1300 NORTH 17TH STREET p SUITE 1700 ARLINGTON p VA 22209 2016 ANNUAL REPORT 703 345 6300 p GHCO.COM REVENUE BY PRINCIPAL OPERATIONS n EDUCATION 64% n BROADCASTING 17% n OTHER BUSINESSES 19% FINANCIAL HIGHLIGHTS (in thousands, except per share amounts) 2016 2015 Change Operating revenues $2,481,890 $2,586,114 (4%) Income (loss) from operations $ 303,534 $ (80,825) — Net income (loss) attributable to common shares $ 168,590 $ (101,286) — Diluted earnings (loss) per common share from continuing operations $ 29.80 $ (25.23) — Diluted earnings (loss) per common share $ 29.80 $ (17.87) — Dividends per common share $ 4.84 $ 9.10 (47%) Common stockholders’ equity per share $ 439.88 $ 429.15 3% Diluted average number of common shares outstanding 5,589 5,818 (4%) OPERATING REVENUES INCOME (LOSS) FROM OPERATIONS ($ in millions) ($ in millions) 2016 2,482 2016 304 2015 2,586 2015 (81) 2014 2,737 2014 233 2013 2,601 2013 149 2012 2,585 2012 (6) NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHARES RETURN ON AVERAGE COMMON ($ in millions) STOCKHOLDERS’ EQUITY* 2016 169 2016 7.5% 2015 (101) 2015 (4.1%) 2014 1,293 2014 46.6% 2013 236 2013 9.0% 2012 131 2012 5.2% DILUTED EARNINGS (LOSS) PER COMMON SHARE DILUTED EARNINGS (LOSS) PER COMMON SHARE FROM CONTINUING OPERATIONS ($) ($) 2016 29.80 2016 29.80 2015 (25.23) 2015 (17.87) 2014 115.40 2014 195.03 2013 8.61 2013 32.05 2012 (7.17) 2012 17.39 * Computed on a comparable basis, excluding the impact of the adjustment for pensions and other postretirement plans on average common stockholders’ equity.
    [Show full text]
  • To Concord) and All of the Basic Coursework Was the Same
    THE NATION’S FIRST ONLINE LAW SCHOOL CONCORD LAW SCHOOL LAW DEGREES: • Juris Doctor • Executive Juris Doctor 2 866-522-7747 | ConcordLawSchool.edu This page has been intentionally left blank. 3 TABLE OF CONTENTS Letter From the Dean ...........................................................................4 Mission Statement ................................................................................5 Why Choose Concord Law School? ...................................................6 Which Program Is Right for You? .....................................................9 Juris Doctor (JD) Degree .......................................................................................... 10 Executive Juris Doctor (EJD) Degree ...................................................................... 11 Discover All The Possibilities .......................................................... 12 Professional Faculty: Superior Support ...................................... 14 Meet Our Concord Graduates ......................................................... 16 How the Program Works .................................................................. 18 4 866-522-7747 | ConcordLawSchool.edu LETTER FROM THE DEAN Thank you for your interest in learning more about Concord Concord Law School was the first online law school in the Law School at Purdue University Global. As you consider nation, and continues to be an innovator, offering not only its Concord, let me take a moment to share my own considerations Juris Doctor (JD) degree but also the Executive
    [Show full text]
  • Alternative Non-JD Programming for Law Schools
    Alternative Non-JD Programming for Law Schools June 2013 In the following report, Hanover Research discusses law school programs that go beyond the basic JD, including non‐JD degree programs and study abroad opportunities. The first section of the report provides a broad overview of recent degree completion trends in non‐ JD programs at the undergraduate, graduate, and certificate levels. The second section of the report analyzes the range of LLM offerings, while the third section similarly outlines other non‐JD degrees, such as the Master of Science or Master of Studies (MS) or Doctor of Judicial Science (SJD). The final section reviews study abroad opportunities for law students with a particular focus on options in China. Hanover Research | June 2013 TABLE OF CONTENTS Executive Summary and Key Findings ................................................................................ 3 Introduction ........................................................................................................................... 3 Key Findings ........................................................................................................................... 4 Section I: Non‐JD Program Trends ...................................................................................... 5 National Degree Completion Trends for Non‐JD Programs .................................................. 5 Section II: LLM Programs .................................................................................................... 8 LLM Programs .......................................................................................................................
    [Show full text]
  • King V. Kaplan Inc. Amended Complaint
    CHRISTOPHER H. KNAUF, State Bar No. 185180 1 KNAUF ASSOCIATES 2001 Wilshire Blvd., Suite 510 2 Santa Monica, CA 90403 Tel.: (310) 829-4250 3 Fax: (310) 622-7263 [email protected] 4 5 EUGENE FELDMAN, State Bar No. 118497 6 ATTORNEY AT LAW, A.P.C. 555 Pier Avenue, Suite 4 7 Hermosa Beach, CA 90254 Tel.: (310) 372-4636 8 Fax: (310) 376-3531 Email: [email protected] 9 10 Attorneys for Claimant Lori King 11 AMERICAN ARBITRATION ASSOCIATION 12 LOS ANGELES, CALIFORNIA 13 14 Lori Ann King , Case No. 72 516 00133 10 SLM 15 Claimant, vs. CLAIMANT LORI KING’S 16 AMENDED ARBITRATION Kaplan Inc., a Delaware corporation DEMAND 17 dba Concord Law School aka 18 Concord University Law School; 19 Kaplan Higher Education Corporation, a Delaware corporation 20 dba Concord Law School aka Concord University Law School; 21 The Washington Post Company, a 22 Delaware corporation; and 23 DOES 1 through 10, 24 Respondents. 25 26 27 28 - 1 - CLAIMANT’S AMENDED ARBITRATION DEMAND King v. Kaplan, Inc., et al 1 TO ALL PARTIES AND THEIR ATTORNEYS OF RECORD: 2 PLEASE TAKE NOTICE that Claimant Lori Ann King, by and through her 3 attorneys, hereby submits her amended demand for arbitration against Respondents 4 Kaplan, Inc. and Kaplan Higher Education Corporation, both doing business as 5 Concord Law School, also known as Concord University Law School, and their 6 corporate parent, The Washington Post Company, pursuant to Section 5 of the parties’ 7 Concord Law School enrollment agreements dated August 4, 2006 and October 24, 8 2007 (“Agreement”).
    [Show full text]