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Subsequent Event | 12 Months Ended
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Jun. 30, 2021
Subsequent Events [Abstract] |
Subsequent Event | 22. Subsequent Event On August 4, 2021, Adtalem announced the appointment of Stephen W. Beard as the President and Chief Executive Officer of Adtalem effective September 8, 2021. Mr. Beard is currently Adtalem’s Chief Operating Officer. On the effective date of Mr. Beard’s appointment, Lisa W. Wardell, Adtalem’s current Chairman of the Board, President and Chief Executive Officer, will transition to the role of Executive Chairman of the Board of Adtalem for a one-year term. On August 12, 2021, Adtalem completed the acquisition of Walden for $1.48 billion in cash, subject to certain adjustments set forth in the Agreement. Walden owns and operates Walden University, an online for-profit university headquartered in Minneapolis, Minnesota. The acquisition furthers Adtalem’s growth strategy into becoming a leading workforce solutions provider. We used the $800 million in Notes, the $850 million New Term Loan, and available cash on hand to fund the Acquisition, refinance our existing credit agreement, pay fees and expenses related to the Acquisition, and in the case of the New Revolver, to finance ongoing working capital and for general corporate purposes. In connection with refinancing our Term B Loan, we settled and terminated the Swap. See Note 13 “Debt” for additional information on the debt agreements used to finance the Acquisition.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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