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DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables)
 9 Months Ended
Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Balance Sheet Information of Assets and Liabilities Reported as Discontinued Operations
The following is a summary of balance sheet information of assets and liabilities reported as discontinued operations (in thousands).
 
 
 
March 31,
 
June 30,
 
March 31,
 
 
 
2018
 
2017
 
2017
 
ASSETS:
 
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
$
707
 
$
1,553
 
$
1,120
 
Restricted Cash
 
 
9,237
 
 
4,358
 
 
3,463
 
Accounts Receivable, Net
 
 
9,624
 
 
11,957
 
 
32,008
 
Prepaid Expenses and Other Current Assets
 
 
7,956
 
 
4,850
 
 
6,800
 
Total Current Assets Held for Sale
 
 
27,524
 
 
22,718
 
 
43,391
 
Land, Building and Equipment Held for Sale, Net
 
 
-
 
 
45,502
 
 
48,331
 
Noncurrent Assets:
 
 
 
 
 
 
 
 
 
 
Intangible Assets
 
 
-
 
 
1,645
 
 
1,645
 
Goodwill
 
 
-
 
 
22,196
 
 
22,196
 
Perkins Program Fund, Net
 
 
13,450
 
 
13,450
 
 
13,450
 
Other Assets, Net
 
 
-
 
 
999
 
 
968
 
Total Noncurrent Assets Held for Sale
 
 
13,450
 
 
38,290
 
 
38,259
 
Total Assets Held for Sale
 
$
40,974
 
$
106,510
 
$
129,981
 
 
 
 
 
 
 
 
 
 
 
 
LIABILITIES:
 
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
 
Accounts Payable
 
$
13,831
 
$
17,868
 
$
16,318
 
Accrued Salaries, Wages and Benefits
 
 
8,544
 
 
14,580
 
 
10,530
 
Accrued Liabilities
 
 
2,001
 
 
8,728
 
 
7,631
 
Deferred Revenue
 
 
31,432
 
 
1,788
 
 
42,052
 
Total Current Liabilities Held for Sale
 
 
55,808
 
 
42,964
 
 
76,531
 
Total Liabilities Held for Sale
 
$
55,808
 
$
42,964
 
$
76,531
 
 
The following is a summary of income statement information of operations reported as discontinued operations (in thousands).
 
 
 
Three Months Ended
 
Nine Months Ended
 
 
 
March 31,
 
March 31,
 
 
 
2018
 
2017
 
2018
 
2017
 
REVENUE:
 
 
 
 
 
 
 
 
 
 
 
 
 
Tuition
 
$
82,067
 
$
111,548
 
$
254,906
 
$
341,678
 
Other Educational
 
 
8,515
 
 
7,867
 
 
22,066
 
 
20,993
 
Total Revenue
 
 
90,582
 
 
119,415
 
 
276,972
 
 
362,671
 
OPERATING COST AND EXPENSE:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of Educational Services
 
 
44,758
 
 
57,029
 
 
145,154
 
 
180,855
 
Student Services and Administrative Expense
 
 
42,644
 
 
54,090
 
 
128,541
 
 
156,174
 
Restructuring Expense
 
 
6,150
 
 
4,967
 
 
13,964
 
 
8,751
 
Asset Impairment Charge - Intangible and Goodwill
 
 
-
 
 
-
 
 
23,841
 
 
-
 
Asset Impairment Charge - Building and Equipment
 
 
5,738
 
 
-
 
 
29,129
 
 
-
 
Loss on Sale of Assets
 
 
-
 
 
-
 
 
230
 
 
-
 
Regulatory Settlements
 
 
-
 
 
-
 
 
-
 
 
4,102
 
Loss on Assets Held for Sale
 
 
-
 
 
-
 
 
-
 
 
4,764
 
Total Operating Cost and Expense
 
 
99,290
 
 
116,086
 
 
340,859
 
 
354,646
 
Operating (Loss) Income from Discontinued Operations
 
 
(8,708)
 
 
3,329
 
 
(63,887)
 
 
8,025
 
Interest Income
 
 
-
 
 
-
 
 
-
 
 
20
 
(Loss) Income from Discontinued Operations Before
 
 
 
 
 
 
 
 
 
 
 
 
 
Income Taxes
 
 
(8,708)
 
 
3,329
 
 
(63,887)
 
 
8,045
 
Income Tax Benefit
 
 
3,483
 
 
377
 
 
23,854
 
 
2,329
 
(Loss) Income from Discontinued Operations
 
$
(5,225)
 
$
3,706
 
$
(40,033)
 
$
10,374