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Discontinued Operations and Assets Held for Sale (Tables)

12 Months Ended

Jun. 30, 2020

Discontinued Operations And Disposal Groups [Abstract]

Balance Sheet and Income Statement Information of Discontinued Operations

The following is a summary of balance sheet information of assets and liabilities reported as held for sale as of June 30, 2019, which includes only Adtalem Brazil balances as Carrington and DeVry University were sold prior to that date (in thousands):

​	​	​	​
​	​	June 30,
​		2019
Assets:		​
Current assets:		​
Cash and cash equivalents	​	$	95,243
Accounts receivable, net	​		74,269
Prepaid expenses and other current assets	​		8,411
Total current assets held for sale	​		177,923
Noncurrent assets:	​
Property and equipment, net	​	​	81,250
Operating lease assets	​		—
Deferred income taxes	​		5,585
Intangible assets, net	​		120,108
Goodwill	​		187,195
Other assets, net	​		10,338
Total noncurrent assets held for sale	​		404,476
Total assets held for sale	​	$	582,399
​	​	​	​
Liabilities:	​
Current liabilities:	​
Accounts payable	​	$	4,242
Accrued payroll and benefits	​		17,828
Accrued liabilities	​		10,193
Deferred revenue	​		3,846
Current operating lease liabilities	​		—
Total current liabilities held for sale	​		36,109
Noncurrent liabilities:	​
Deferred income taxes	​		4,104
Other liabilities	​		18,964
Total noncurrent liabilities held for sale	​		23,068
Total liabilities held for sale	​	$	59,177

The following is a summary of income statement information of operations reported as discontinued operations, which includes Adtalem Brazil’s, Carrington’s, and DeVry University’s operations through the date of each respective sale (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended June 30,
​	​	2020			2019			2018
Revenue	​	$	157,695	​	$	421,560	​	$	755,203
Operating cost and expense:	​			​			​
Cost of educational services	​		105,118	​		261,175	​		455,404
Student services and administrative expense	​		113,449	​		142,516	​		267,680
Restructuring expense	​		646	​		388	​		19,723
Asset impairment charge - intangible and goodwill	​	​	—	​	​	—	​	​	44,041
Asset impairment charge - building and equipment	​		—	​		1,953	​		51,972
Loss on sale of assets	​		—	​		—	​		230
Total operating cost and expense	​		219,213	​		406,032	​		839,050
Operating (loss) income	​		(61,518)	​		15,528	​		(83,847)
Other income (expense):	​	​	​	​	​	​	​	​	​
Interest and dividend income	​	​	1,862	​	​	4,008	​	​	5,229
Interest expense	​	​	(2,922)	​	​	(3,733)	​	​	(3,039)
Net other (expense) income	​		(1,060)	​		275	​		2,190
(Loss) income from discontinued operations before income taxes	​	​	(62,578)	​	​	15,803	​	​	(81,657)
Loss on disposal of discontinued operations before income taxes	​	​	(287,560)	​	​	(33,604)	​	​	—
Benefit from income taxes	​		20,823	​		6,513	​		48,020
Loss from discontinued operations	​	​	(329,315)	​	​	(11,288)	​	​	(33,637)
Net income attributable to redeemable noncontrolling interest	​	​	—	​	​	(791)	​	​	(1,023)
Net loss from discontinued operations attributable to Adtalem	​	$	(329,315)	​	$	(12,079)	​	$	(34,660)

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- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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