EX-99.1 2 a51545088ex99_1.htm EXHIBIT 99.1
Exhibit 99.1
 
 
 
DEVRY EDUCATION GROUP INC.    
SCHEDULE OF SEGMENT SUMMARY FINANCIAL INFORMATION
(unaudited and amounts in thousands)
 
   
Years Ended   
  
   
June 30,
2015
    
June 30,
2016
  
Revenue:
            
Medical and Healthcare
  
$
700,806
    
$
783,655
  
Professional Education
    
99,608
      
102,921
  
Technology and Business
    
159,231
      
196,097
  
U.S. Traditional Postsecondary
    
952,833
      
763,809
  
Intersegment Elimination and Other
    
(2,535
)
    
(2,945
)
Total Consolidated Revenue
  
$
1,909,943
    
$
1,843,537
  
Operating Income (Loss) from Continuing Operations:
                
Medical and Healthcare
  
$
155,377
    
$
178,484
  
Professional Education
    
22,036
      
28,043
  
Technology and Business
    
15,638
      
13,580
  
U.S. Traditional Postsecondary
    
(25,177
)
    
(211,299
)
Home Office and Other (1)
    
(10,964
)
    
(20,951
)
Total Consolidated Operating Income (Loss) from
                
Continuing Operations
  
$
156,910
    
$
(12,143
)
Segment Assets:
                
Medical and Healthcare
  
$
941,995
    
$
827,951
  
Professional Education
    
116,959
      
91,741
  
Technology and Business
    
280,082
      
583,020
  
U.S. Traditional Postsecondary
    
623,093
      
326,058
  
Home Office and Other (1)
    
77,703
      
268,226
  
Total Consolidated Assets
  
$
2,039,832
    
$
2,096,996
  
Additions to Long-Lived Assets:
                
Medical and Healthcare
  
$
53,704
    
$
25,645
  
Professional Education
    
1,399
      
1,120
  
Technology and Business
    
138,075
      
206,955
  
U.S. Traditional Postsecondary
    
11,269
      
17,941
  
Home Office and Other
    
9,704
      
10,806
  
Total Consolidated Additions to Long-Lived Assets
  
$
214,151
    
$
262,467
  
Reconciliation to Consolidated Financial Statements
                
Capital Expenditures
  
$
88,707
    
$
69,396
  
Increase in Capital Assets from Acquisitions
    
10,921
      
13,778
  
Increase in Intangible Assets and Goodwill
    
114,523
      
179,293
  
Total Increase in Consolidated Long-Lived Assets
  
$
214,151
    
$
262,467
  
Depreciation Expense:
                
Medical and Healthcare
  
$
21,943
    
$
28,616
  
Professional Education
    
1,792
      
721
  
Technology and Business
    
4,372
      
5,189
  
U.S. Traditional Postsecondary
    
42,628
      
32,079
  
Home Office and Other
    
14,273
      
12,795
  
Total Consolidated Depreciation
  
$
85,008
    
$
79,400
  
Intangible Asset Amortization Expense:
                
Medical and Healthcare
  
$
387
    
$
-
  
Professional Education
    
912
      
563
  
Technology and Business
    
2,530
      
4,629
  
U.S. Traditional Postsecondary
    
260
      
255
  
Total Consolidated Amortization
  
$
4,089
    
$
5,447
  
 
(1)  Certain activity previously reported in the reporting segments has been reclassified to Home Office and Other to reflect current segment reporting.
 
 
 
 
 
DEVRY EDUCATION GROUP INC.
 
SCHEDULE OF SEGMENT SUMMARY FINANCIAL INFORMATION
  
(unaudited and amounts in thousands)
  
       
   
Three Months Ended
  
   
September 30,
2015
    
December 31,
2015
    
March 31,
2016
    
June 30,
2016
  
Revenue:
                        
Medical and Healthcare
  
$
183,812
    
$
196,590
    
$
210,215
    
$
193,038
  
Professional Education
    
25,420
      
22,314
      
23,683
      
31,504
  
Technology and Business
    
33,253
      
40,089
      
48,062
      
74,693
  
U.S. Traditional Postsecondary
    
199,638
      
197,996
      
193,008
      
173,167
  
Intersegment Elimination and Other
    
(710
)
    
(786
)
    
(747
)
    
(702
)
Total Consolidated Revenue
  
$
441,413
    
$
456,203
    
$
474,221
    
$
471,700
  
Operating Income (Loss):
                                
Medical and Healthcare
  
$
36,826
    
$
46,644
    
$
57,450
    
$
37,564
  
Professional Education
    
5,691
      
4,042
      
5,905
      
12,405
  
Technology and Business
    
(3,669
)
    
3,805
      
(1,583
)
    
15,027
  
U.S. Traditional Postsecondary
    
(27,822
)
    
(107,948
)
    
2,942
      
(78,471
)
Home Office and Other (1)
    
(2,779
)
    
(2,920
)
    
(3,867
)
    
(11,385
)
Total Consolidated Operating Income (Loss)
  
$
8,247
    
$
(56,377
)
  
$
60,847
    
$
(24,860
)
Segment Assets:
                                
Medical and Healthcare
  
$
996,110
    
$
782,220
    
$
830,493
    
$
827,951
  
Professional Education
    
105,362
      
101,325
      
109,478
      
91,741
  
Technology and Business
    
231,665
      
436,007
      
504,640
      
583,020
  
U.S. Traditional Postsecondary
    
706,202
      
486,737
      
570,976
      
326,058
  
Home Office and Other (1)
    
67,270
      
86,251
      
81,472
      
268,226
  
Total Consolidated Assets
  
$
2,106,609
    
$
1,892,540
    
$
2,097,059
    
$
2,096,996
  
Additions to Long-Lived Assets:
                                
Medical and Healthcare
  
$
8,162
    
$
5,611
    
$
2,798
    
$
9,074
  
Professional Education
    
595
      
-
      
220
      
305
  
Technology and Business
    
5,066
      
183,499
      
5,557
      
12,833
  
U.S. Traditional Postsecondary
    
5,689
      
5,548
      
2,945
      
3,759
  
Home Office and Other
    
3,241
      
4,346
      
2,080
      
1,139
  
Total Consolidated Additions to Long-Lived Assets
  
$
22,753
    
$
199,004
    
$
13,600
    
$
27,110
  
Reconciliation to Consolidated Financial Statements
                                
Capital Expenditures
  
$
22,753
    
$
18,295
    
$
9,956
    
$
18,392
  
Increase in Capital Assets from Acquisitions
    
-
      
13,487
      
-
      
291
  
Increase in Intangible Assets and Goodwill
    
-
      
167,222
      
3,644
      
8,427
  
Total Increase in Consolidated Long-Lived Assets
  
$
22,753
    
$
199,004
    
$
13,600
    
$
27,110
  
Depreciation Expense:
                                
Medical and Healthcare
  
$
6,790
    
$
6,741
    
$
7,526
    
$
7,559
  
Professional Education
    
277
      
206
      
66
      
172
  
Technology and Business
    
1,157
      
1,106
      
1,272
      
1,654
  
U.S. Traditional Postsecondary
    
8,453
      
8,461
      
7,805
      
7,360
  
Home Office and Other
    
3,000
      
3,179
      
3,310
      
3,306
  
Total Consolidated Depreciation
  
$
19,677
    
$
19,693
    
$
19,979
    
$
20,051
  
Intangible Asset Amortization Expense:
                                
Professional Education
  
$
151
    
$
150
    
$
147
    
$
115
  
Technology and Business
    
961
      
1,163
      
1,200
      
1,305
  
U.S. Traditional Postsecondary
    
60
      
65
      
65
      
65
  
Total Consolidated Amortization
  
$
1,172
    
$
1,378
    
$
1,412
    
$
1,485
  
 
(1)  Certain activity previously reported in the reporting segments has been reclassified to Home Office and Other to reflect current segment reporting
 
 
 
 
 
DEVRY EDUCATION GROUP INC.
SCHEDULE OF SEGMENT SUMMARY FINANCIAL INFORMATION
(unaudited and amounts in thousands)
       
   
Three Months Ended
  
   
September 30,
2016
    
December 31,
2016
  
Revenue:
            
Medical and Healthcare
  
$
199,769
    
$
201,409
  
Professional Education
    
34,730
      
27,366
  
Technology and Business
    
58,240
      
73,387
  
U.S. Traditional Postsecondary
    
157,875
      
154,840
  
Intersegment Elimination and Other
    
(722
)
    
(652
)
Total Consolidated Revenue
  
$
449,892
    
$
456,350
  
Operating Income (Loss):
                
Medical and Healthcare
  
$
43,863
    
$
52,153
  
Professional Education
    
6,057
      
134
  
Technology and Business
    
(1,976
)
    
13,482
  
U.S. Traditional Postsecondary
    
(10,006
)
    
(5,681
)
Home Office and Other
    
(4,831
)
    
(55,242
)
Total Consolidated Operating Income
  
$
33,107
    
$
4,846
  
Segment Assets:
                
Medical and Healthcare
  
$
894,136
    
$
874,839
  
Professional Education
    
458,974
      
456,824
  
Technology and Business
    
574,860
      
581,355
  
U.S. Traditional Postsecondary
    
311,952
      
270,677
  
Home Office and Other (1)
    
84,434
      
117,738
  
Total Consolidated Assets
  
$
2,324,356
    
$
2,301,433
  
Additions to Long-Lived Assets:
                
Medical and Healthcare
  
$
3,303
    
$
3,541
  
Professional Education
    
363,710
      
-
  
Technology and Business
    
4,785
      
2,828
  
U.S. Traditional Postsecondary
    
1,997
      
1,404
  
Home Office and Other
    
1,227
      
1,315
  
Total Consolidated Additions to Long-Lived Assets
  
$
375,022
    
$
9,088
  
Reconciliation to Consolidated Financial Statements
                
Capital Expenditures
  
$
11,318
    
$
9,088
  
Increase in Capital Assets from Acquisitions
    
4,913
      
-
  
Increase in Intangible Assets and Goodwill
    
358,791
      
-
  
Total Increase in Consolidated Long-Lived Assets
  
$
375,022
    
$
9,088
  
Depreciation Expense:
                
Medical and Healthcare
  
$
6,478
    
$
6,720
  
Professional Education
    
167
      
180
  
Technology and Business
    
1,941
      
2,169
  
U.S. Traditional Postsecondary
    
5,954
      
5,962
  
Home Office and Other
    
2,936
      
3,060
  
Total Consolidated Depreciation
  
$
17,476
    
$
18,091
  
Intangible Asset Amortization Expense:
                
Professional Education
  
$
1,902
    
$
1,884
  
Technology and Business
    
1,361
      
548
  
U.S. Traditional Postsecondary
    
-
      
-
  
Total Consolidated Amortization
  
$
3,263
    
$
2,432
  
 
(1)  Certain activity previously reported in the reporting segments has been reclassified to Home Office and Other to reflect current segment reporting.