XML 45 R29.htm IDEA: XBRL DOCUMENT
v3.23.2

Segment Information | 12 Months Ended
--- | ---
Jun. 30, 2023
Segment Reporting [Abstract] |
Segment Information | 22. Segment Information We present three reportable segments as follows: Chamberlain – Offers degree and non-degree programs in the nursing and health professions postsecondary education industry. This segment includes the operations of Chamberlain. Walden – Offers more than 100 online certificate, bachelor’s, master’s, and doctoral degrees, including those in nursing, education, counseling, business, psychology, public health, social work and human services, public administration and public policy, and criminal justice. This segment includes the operations of Walden, which was acquired by Adtalem on August 12, 2021. See Note 3 “Acquisitions” for additional information on the acquisition. Medical and Veterinary – Offers degree and non-degree programs in the medical and veterinary postsecondary education industry. This segment includes the operations of AUC, RUSM, and RUSVM, which are collectively referred to as the “medical and veterinary schools.” Certain expenses previously allocated to ACAMS, Becker, OCL, and EduPristine within our former Financial Services segment during fiscal year 2021 and the first quarter of fiscal year 2022 have been reclassified to Home Office and Other based on discontinued operations reporting guidance regarding allocation of corporate overhead. Beginning in the second quarter of fiscal year 2022, these costs are being allocated to the Chamberlain, Walden, and Medical and Veterinary segments. 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 on each segment’s adjusted operating income. Adjusted operating income excludes special items, which consists of deferred revenue adjustment, CEO transition costs, restructuring expense, business acquisition and integration expense, intangible amortization expense, litigation reserve, and gain on sale of assets. Adtalem’s management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. “Home Office and Other” includes activities not allocated to a reportable segment and is included to reconcile segment results to the Consolidated Financial Statements. Total assets by segment is not presented as our CODM does not review or allocate resources based on segment assets. The accounting policies of the segments are the same as those described in Note 2 “Summary of Significant Accounting Policies.” Summary financial information by reportable segment is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Revenue: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chamberlain | ​ | $ | 571,034 | ​ | $ | 557,536 | ​ | $ | 563,814
Walden | ​ | ​ | 533,725 | ​ | ​ | 485,393 | ​ | ​ | —
Medical and Veterinary | ​ | ​ | 346,067 | ​ | ​ | 338,913 | ​ | ​ | 335,434
Total consolidated revenue | ​ | $ | 1,450,826 | ​ | $ | 1,381,842 | ​ | $ | 899,248
Adjusted operating income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chamberlain | ​ | $ | 135,503 | ​ | $ | 127,252 | ​ | $ | 128,851
Walden | ​ | ​ | 110,364 | ​ | ​ | 104,582 | ​ | ​ | —
Medical and Veterinary | ​ | ​ | 67,336 | ​ | ​ | 69,148 | ​ | ​ | 60,199
Home Office and Other | ​ |  | (25,633) | ​ |  | (33,380) | ​ |  | (40,189)
Total consolidated adjusted operating income | ​ | ​ | 287,570 | ​ | ​ | 267,602 | ​ | ​ | 148,861
Reconciliation to Consolidated Financial Statements: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred revenue adjustment | ​ | ​ | — | ​ | ​ | (8,561) | ​ | ​ | —
CEO transition costs | ​ | ​ | — | ​ | ​ | (6,195) | ​ | ​ | —
Restructuring expense | ​ |  | (18,817) | ​ |  | (25,628) | ​ |  | (6,869)
Business acquisition and integration expense | ​ | ​ | (42,661) | ​ |  | (53,198) | ​ |  | (31,593)
Intangible amortization expense | ​ | ​ | (61,239) | ​ |  | (97,274) | ​ |  | —
Litigation reserve | ​ | ​ | (10,000) | ​ |  | — | ​ |  | —
Gain on sale of assets | ​ | ​ | 13,317 | ​ |  | — | ​ |  | —
Total consolidated operating income | ​ | ​ | 168,170 | ​ | ​ | 76,746 | ​ | ​ | 110,399
Interest expense | ​ |  | (63,100) | ​ |  | (129,348) | ​ |  | (41,365)
Other income, net | ​ |  | 6,965 | ​ |  | 1,108 | ​ |  | 6,732
Total consolidated income (loss) from continuing operations before income taxes | ​ | $ | 112,035 | ​ | $ | (51,494) | ​ | $ | 75,766
Capital expenditures: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chamberlain | ​ | $ | 17,749 | ​ | $ | 15,235 | ​ | $ | 28,631
Walden | ​ | ​ | 4,688 | ​ | ​ | 5,393 | ​ | ​ | —
Medical and Veterinary | ​ | ​ | 4,386 | ​ | ​ | 3,277 | ​ | ​ | 4,121
Home Office and Other | ​ |  | 10,185 | ​ |  | 7,149 | ​ |  | 7,129
Total consolidated capital expenditures | ​ | $ | 37,008 | ​ | $ | 31,054 | ​ | $ | 39,881
Depreciation expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Chamberlain | ​ | $ | 17,264 | ​ | $ | 18,547 | ​ | $ | 16,123
Walden | ​ | ​ | 9,492 | ​ | ​ | 9,255 | ​ | ​ | —
Medical and Veterinary | ​ | ​ | 12,475 | ​ | ​ | 13,890 | ​ | ​ | 14,431
Home Office and Other | ​ |  | 2,344 | ​ |  | 2,882 | ​ |  | 3,334
Total consolidated depreciation expense | ​ | $ | 41,575 | ​ | $ | 44,574 | ​ | $ | 33,888
Intangible amortization expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Walden | ​ | $ | 61,239 | ​ | $ | 97,274 | ​ | $ | —
Total consolidated intangible amortization expense | ​ | $ | 61,239 | ​ | $ | 97,274 | ​ | $ | —
​ Adtalem conducts its educational operations in the U.S., Barbados, St. Kitts, and St. Maarten. Revenue and long-lived assets by geographic area are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Revenue from unaffiliated customers: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic operations | ​ | $ | 1,104,759 | ​ | $ | 1,042,929 | ​ | $ | 563,814
Barbados, St. Kitts, and St. Maarten | ​ |  | 346,067 | ​ |  | 338,913 | ​ |  | 335,434
Total consolidated revenue | ​ | $ | 1,450,826 | ​ | $ | 1,381,842 | ​ | $ | 899,248
Long-lived assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic operations | ​ | $ | 269,147 | ​ | $ | 289,129 | ​ | $ | 286,720
Barbados, St. Kitts, and St. Maarten | ​ |  | 164,052 | ​ |  | 178,792 | ​ |  | 164,337
Total consolidated long-lived assets | ​ | $ | 433,199 | ​ | $ | 467,921 | ​ | $ | 451,057
​ No one customer accounted for more than 10% of Adtalem’s consolidated revenue for all periods presented.

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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration