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Extraction Summary
0
People
8
Organizations
1
Locations
3
Events
3
Relationships
3
Quotes
Document Information
Type:
Financial summary / corporate financial statements
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Summary
This document contains three financial summary tables for KLC OpCo, KLC PropCo, and k12, detailing historical and projected financial data from 2004 to 2007. The data relates to the corporate restructuring of Knowledge Learning Corporation (KLC), its acquisition of KinderCare in January 2005, and its subsequent separation into operating and property companies. The document appears to be part of a House Oversight Committee investigation, as indicated by the footer stamp.
Organizations (8)
| Name | Type | Context |
|---|---|---|
| KLC OpCo | ||
| KLC PropCo | ||
| k12 | ||
| KinderCare | ||
| Knowledge Learning Corporation (KLC) | ||
| Knowledge School Inc. | ||
| The Real Estate Company | ||
| House Oversight Committee |
Timeline (3 events)
Locations (1)
| Location | Context |
|---|---|
Relationships (3)
Separation of KLC into KLC OpCo and KLC PropCo
Acquisition of KinderCare in January 2005
Rental Revenue From KLC OpCo listed under KLC PropCo revenue
Key Quotes (3)
"Pro forma for the effects of the acquisition of KinderCare in January 2005 and the separation of KLC into KLC OpCo and KLC PropCo in November 2005"Source
HOUSE_OVERSIGHT_024476.jpg
Quote #1
"EBITDA and EBITDAR are adjusted for restructuring charges, closed center costs... management fees"Source
HOUSE_OVERSIGHT_024476.jpg
Quote #2
"Includes only states in which virtual academies are operated. Includes Washington, D.C."Source
HOUSE_OVERSIGHT_024476.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (2,584 characters)
KLC OpCo Historical Pro Forma and Projected Financial Summary
Fiscal Year Ended December 31,
($ in millions, except for weekly tuition)
2004PF¹
2005PF¹
2006P
2007P
($ in millions, except for weekly tuition)
2004PF¹
2005PF¹
2006P
2007P
OPERATIONAL DATA:
Revenue
$1,442.2
$1,477.7
$1,557.8
$1,656.5
Revenue Growth
2.5%
5.4%
6.3%
Gross Profit
$233.3
$244.4
$290.7
$320.6
Adjusted EBITDA²
$143.3
$149.9
$161.7
$179.9
Adjusted EBITDA Margin
9.9%
10.1%
10.4%
10.9%
Adjusted EBITDAR
$352.8
$367.4
$371.4
$391.4
Adjusted EBITDAR Margin
24.5%
24.9%
23.8%
23.6%
Revenue
$1,442.2
$1,477.7
$1,557.8
$1,656.5
Revenue Growth
2.5%
5.4%
6.3%
Gross Profit
$233.3
$244.4
$290.7
$320.6
Adjusted EBITDA²
$143.3
$149.9
$161.7
$179.9
Adjusted EBITDA Margin
9.9%
10.1%
10.4%
10.9%
Adjusted EBITDAR
$352.8
$367.4
$371.4
$391.4
Adjusted EBITDAR Margin
24.5%
24.9%
23.8%
23.6%
OTHER FINANCIAL DATA:
Interest Expense
$23.5
$23.5
$23.6
$23.5
Capital Expenditures
70.6
83.1
69.9
60.2
# of Centers
2,021
1,934
1,894
1,878
Average Weekly Tuition
$156.61
$167.35
$173.68
$179.99
Utilization
61.6%
61.2%
62.2%
63.0%
Interest Expense
$23.5
$23.5
$23.6
$23.5
Capital Expenditures
70.6
83.1
69.9
60.2
# of Centers
2,021
1,934
1,894
1,878
Average Weekly Tuition
$156.61
$167.35
$173.68
$179.99
Utilization
61.6%
61.2%
62.2%
63.0%
KLC PropCo Historical Pro Forma and Projected Financial Summary
Fiscal Year Ended December 31,
($ in millions)
2004PF¹
2005PF¹
2006P
2007P
($ in millions)
2004PF¹
2005PF¹
2006P
2007P
OPERATIONAL DATA:³
Rental Revenue From KLC OpCo
$96.3
$96.3
$96.3
$96.3
Other Rental Revenue
0.0
0.0
0.0
4.6
Total Revenue
$96.3
$96.3
$96.3
$100.9
Rental Revenue From KLC OpCo
$96.3
$96.3
$96.3
$96.3
Other Rental Revenue
0.0
0.0
0.0
4.6
Total Revenue
$96.3
$96.3
$96.3
$100.9
Operating Expenses
$8.3
$8.3
$8.3
$8.3
EBITDA
$88.1
$88.1
$88.1
$92.6
$8.3
$8.3
$8.3
$8.3
EBITDA
$88.1
$88.1
$88.1
$92.6
OTHER FINANCIAL DATA:
Interest Expense
$66.4
$66.4
$66.3
$66.0
Interest Expense
$66.4
$66.4
$66.3
$66.0
k12 Historical and Projected Financial Summary
Fiscal Year Ended June 30,
($ in millions)
2004
2005
2006P
2007P
($ in millions)
2004
2005
2006P
2007P
OPERATIONAL DATA:
Revenue⁴
$71.4
$85.3
$116.0
$132.2
Revenue Growth
19.5%
36.0%
14.0%
EBITDA
($1.9)
$2.2
$5.7
$12.3
EBITDA Margin
(2.6)%
2.6%
4.9%
9.3%
Revenue⁴
$71.4
$85.3
$116.0
$132.2
Revenue Growth
19.5%
36.0%
14.0%
EBITDA
($1.9)
$2.2
$5.7
$12.3
EBITDA Margin
(2.6)%
2.6%
4.9%
9.3%
OTHER FINANCIAL DATA:
Capital Expenditures
$4.3
$4.9
$9.4
$15.0
# of States Served⁴
11
11
12
14
# of Students
10,811
14,144
18,267
24,000
Capital Expenditures
$4.3
$4.9
$9.4
$15.0
# of States Served⁴
11
11
12
14
# of Students
10,811
14,144
18,267
24,000
¹ Pro forma for the effects of the acquisition of KinderCare in January 2005 and the separation of KLC into KLC OpCo and KLC PropCo in November 2005, as if those transactions and related financing had occurred on January 1, 2004.
² EBITDA and EBITDAR are adjusted for restructuring charges, closed center costs, (gains) / losses on center sales, (gains) / losses on minority investment, dividend income, IDS expenses, estimated parallel organization costs, management fees, KLC OpCo's long term incentive plan and Knowledge School Inc.'s SAR Plan-related costs allocated to KLC. See also "Management's Discussion and Analysis of KLC's Pro Forma Results of Operations" and "The Real Estate Company (KLC PropCo) - KLC PropCo Summary Financial Information and Projections Discussion."
³ Does not include the reinvestment of real estate revenues. Please refer to "The Real Estate Company (KLC PropCo)" for this information.
⁴ Includes only states in which virtual academies are operated. Includes Washington, D.C.
² EBITDA and EBITDAR are adjusted for restructuring charges, closed center costs, (gains) / losses on center sales, (gains) / losses on minority investment, dividend income, IDS expenses, estimated parallel organization costs, management fees, KLC OpCo's long term incentive plan and Knowledge School Inc.'s SAR Plan-related costs allocated to KLC. See also "Management's Discussion and Analysis of KLC's Pro Forma Results of Operations" and "The Real Estate Company (KLC PropCo) - KLC PropCo Summary Financial Information and Projections Discussion."
³ Does not include the reinvestment of real estate revenues. Please refer to "The Real Estate Company (KLC PropCo)" for this information.
⁴ Includes only states in which virtual academies are operated. Includes Washington, D.C.
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