XML 39 R24.htm IDEA: XBRL DOCUMENT
v3.10.0.1

SEGMENT INFORMATION | 12 Months Ended
--- | ---
Jun. 30, 2018
Segment Reporting [Abstract] |
SEGMENT INFORMATION | NOTE 16: SEGMENT INFORMATION Beginning in the second quarter of fiscal year 2018, DeVry University operations are classified as discontinued operations. In addition, beginning in the fourth quarter of fiscal year 2018, Carrington operations are classified as discontinued operations. See “Note 2: Discontinued Operations and Assets Held for Sale” for further information. Therefore, segment information presented excludes the results of DeVry University and Carrington, which were previously classified within the U.S. Traditional Postsecondary segment and are presented as discontinued operations in the Consolidated Financial Statements. Discontinued operations assets are included in the table below to reconcile to Total Consolidated Assets presented on the Consolidated Balance Sheets. In addition, certain expenses previously allocated to DeVry University and Carrington within the U.S. Traditional Postsecondary segment have been reclassified to the Home Office and Other segment based on discontinued operating reporting guidance regarding allocation of corporate overhead. Adtalem’s principal business is the provision of educational services. Adtalem presents three reporting segments: “Medical and Healthcare,” which includes the operations of Chamberlain and the medical and veterinary schools (which include AUC, RUSM and RUSVM); “Professional Education,” which includes the operations of Becker, ACAMS and EduPristine; and “Technology and Business,” which includes the operations of Adtalem Brazil. These segments are consistent with the method by which the Chief Operating Decision Maker (Adtalem’s President and Chief Executive Officer) evaluates performance and allocates resources. Performance evaluations are based, in part, on each segment’s operating income. Intersegment sales are accounted for at amounts comparable to sales to nonaffiliated customers and are eliminated in consolidation. “Home Office and Other” includes activity not allocated to a reporting segment and is included to reconcile segment results to the Consolidated Financial Statements. Segments may have allocated depreciation expense related to depreciable assets reported as an asset in a different segment. The accounting policies of the segments are the same as those described in “Note 4: Summary of Significant Accounting Policies.” Summary financial information by reporting segment is as follows (in thousands):
|  | Year Ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Medical and Healthcare |  | $ | 815,674 |  |  | $ | 802,462 |  |  | $ | 783,655 |
Professional Education |  |  | 147,195 |  |  |  | 131,769 |  |  |  | 102,921 |
Technology and Business |  |  | 270,934 |  |  |  | 276,341 |  |  |  | 196,097 |
Home Office and Other |  |  | (2,592 | ) |  |  | (2,663 | ) |  |  | (2,598 | )
Total Consolidated Revenue |  | $ | 1,231,211 |  |  | $ | 1,207,909 |  |  | $ | 1,080,075 |
Operating Income (Loss) from Continuing Operations: |  |  |  |  |  |  |  |  |  |  |  |
Medical and Healthcare |  | $ | 189,672 |  |  | $ | 187,138 |  |  | $ | 178,484 |
Professional Education |  |  | 27,695 |  |  |  | 19,866 |  |  |  | 28,043 |
Technology and Business |  |  | 29,431 |  |  |  | 36,204 |  |  |  | 13,580 |
Home Office and Other (1) |  |  | (39,322 | ) |  |  | (107,710 | ) |  |  | (64,017 | )
Total Consolidated Operating Income from Continuing Operations |  | $ | 207,476 |  |  | $ | 135,498 |  |  | $ | 156,090 |
Segment Assets: |  |  |  |  |  |  |  |  |  |  |  |
Medical and Healthcare |  | $ | 988,920 |  |  | $ | 905,741 |  |  | $ | 834,975 |
Professional Education |  |  | 456,589 |  |  |  | 451,261 |  |  |  | 91,741 |
Technology and Business |  |  | 547,110 |  |  |  | 606,563 |  |  |  | 583,020 |
Home Office and Other |  |  | 291,760 |  |  |  | 186,217 |  |  |  | 386,617 |
Discontinued Operations |  |  | 60,582 |  |  |  | 165,236 |  |  |  | 200,643 |
Total Consolidated Assets |  | $ | 2,344,961 |  |  | $ | 2,315,018 |  |  | $ | 2,096,996 |
Additions to Long-Lived Assets: |  |  |  |  |  |  |  |  |  |  |  |
Medical and Healthcare |  | $ | 34,099 |  |  | $ | 15,774 |  |  | $ | 25,645 |
Professional Education |  |  | 15,063 |  |  |  | 364,275 |  |  |  | 1,120 |
Technology and Business |  |  | 25,998 |  |  |  | 19,222 |  |  |  | 206,955 |
Home Office and Other |  |  | 10,675 |  |  |  | 6,477 |  |  |  | 10,806 |
Total Consolidated Additions to Long-Lived Assets |  | $ | 85,835 |  |  | $ | 405,748 |  |  | $ | 244,526 |
Reconciliation to Consolidated Financial Statements |  |  |  |  |  |  |  |  |  |  |  |
Capital Expenditures |  | $ | 66,530 |  |  | $ | 42,508 |  |  | $ | 51,455 |
Increase in Capital Assets from Acquisitions |  |  | 381 |  |  |  | 4,913 |  |  |  | 13,778 |
Increase in Intangible Assets and Goodwill |  |  | 18,924 |  |  |  | 358,327 |  |  |  | 179,293 |
Total Increase in Consolidated Long-Lived Assets |  | $ | 85,835 |  |  | $ | 405,748 |  |  | $ | 244,526 |
Depreciation Expense (2): |  |  |  |  |  |  |  |  |  |  |  |
Medical and Healthcare |  | $ | 29,731 |  |  | $ | 31,938 |  |  | $ | 33,795 |
Professional Education |  |  | 1,999 |  |  |  | 1,869 |  |  |  | 1,550 |
Technology and Business |  |  | 10,282 |  |  |  | 10,117 |  |  |  | 5,444 |
Home Office and Other |  |  | 1,274 |  |  |  | 1,881 |  |  |  | 2,530 |
Total Consolidated Depreciation Expense |  | $ | 43,286 |  |  | $ | 45,805 |  |  | $ | 43,319 |
Intangible Asset Amortization Expense: |  |  |  |  |  |  |  |  |  |  |  |
Professional Education |  | $ | 6,501 |  |  | $ | 7,482 |  |  | $ | 563 |
Technology and Business |  |  | 3,037 |  |  |  | 3,687 |  |  |  | 4,629 |
Total Consolidated Amortization Expense |  | $ | 9,538 |  |  | $ | 11,169 |  |  | $ | 5,192 |
(1) Home Office and Other Operating Loss includes $52.2 million in charges in the year ended June 30, 2017 for regulatory settlements as described in "Note 3: Regulatory Settlements." (2) Depreciation expense for each reporting segment has been modified to current presentation to include the Home Office and Other depreciation which is allocated to each reporting segment. Adtalem conducts its educational operations in the U.S., Dominica, St. Kitts, St. Maarten, Brazil, Canada, Europe, the Middle East, India, China and the Pacific Rim. Other international revenue, which is derived principally from Europe and the Pacific Rim, was less than 5% of total revenue for each of the years ended June 30, 2018, 2017 and 2016. Revenue and long-lived assets by geographic area are as follows (in thousands):
|  | Year Ended June 30, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
Revenue from Unaffiliated Customers: |  |  |  |  |  |  |  |  |  |  |  |
Domestic Operations |  | $ | 610,967 |  |  | $ | 585,865 |  |  | $ | 531,025 |
International Operations: |  |  |  |  |  |  |  |  |  |  |  |
Dominica, St. Kitts and St. Maarten |  |  | 342,831 |  |  |  | 340,861 |  |  |  | 346,235 |
Brazil |  |  | 270,934 |  |  |  | 276,341 |  |  |  | 196,097 |
Other |  |  | 6,479 |  |  |  | 4,842 |  |  |  | 6,718 |
Total International |  |  | 620,244 |  |  |  | 622,044 |  |  |  | 549,050 |
Total Consolidated Revenue |  | $ | 1,231,211 |  |  | $ | 1,207,909 |  |  | $ | 1,080,075 |
Long-Lived Assets: |  |  |  |  |  |  |  |  |  |  |  |
Domestic Operations |  | $ | 148,724 |  |  | $ | 164,324 |  |  | $ | 191,966 |
International Operations: |  |  |  |  |  |  |  |  |  |  |  |
Dominica, St. Kitts and St. Maarten |  |  | 182,701 |  |  |  | 190,843 |  |  |  | 190,513 |
Brazil |  |  | 94,467 |  |  |  | 104,497 |  |  |  | 106,878 |
Other |  |  | 2,021 |  |  |  | 3,378 |  |  |  | 3,388 |
Total International |  |  | 279,189 |  |  |  | 298,718 |  |  |  | 300,779 |
Total Consolidated Long-Lived Assets |  | $ | 427,913 |  |  | $ | 463,042 |  |  | $ | 492,745 |
No one customer accounted for more than 10% of Adtalem's consolidated revenue.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration