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Discontinued Operations and Assets Held for Sale (Tables)

9 Months Ended

Mar. 31, 2022

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, which includes only EduPristine balances as ACAMS, Becker, and OCL were sold as of March 31, 2022 (in thousands):

​

​	​	​	​
​	​	March 31,
​	​	2022
Assets:		​	​
Current assets:		​	​
Cash and cash equivalents	​	$	1,273
Accounts receivable, net	​		140
Prepaid expenses and other current assets	​		19
Total current assets held for sale	​		1,432
Noncurrent assets:	​		​
Other assets, net	​		93
Total noncurrent assets held for sale	​		93
Total assets held for sale	​	$	1,525
​	​	​	​
Liabilities:	​		​
Current liabilities:	​		​
Accounts payable	​	$	884
Deferred revenue	​		533
Total current liabilities held for sale	​		1,417
Noncurrent liabilities:	​		​
Other liabilities	​		41
Total noncurrent liabilities held for sale	​		41
Total liabilities held for sale	​	$	1,458

​

​

The following is a summary of income statement information of operations reported as discontinued operations, which includes ACAMS, Becker, OCL, and EduPristine operations through the date of each respective sale, a loss from post-closing working capital adjustments and a tax return to provision adjustment, and activity related to the DeVry University divestiture, which includes litigation and settlement costs we continue to incur and the earn-outs we received (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

Nine Months Ended

​

​

March 31,

​

March 31,

​

​

2023

​

2022

​

2023

​

2022

Revenue

​

$

—

​

$

41,105

​

$

—

​

$

153,444

Operating cost and expense:

​

​

​

​

​

​

​

​

Cost of educational services

​

—

​

6,872

​

—

​

26,846

Student services and administrative expense

​

3,993

​

30,256

​

6,734

​

123,563

Restructuring expense

​

—

​

551

​

—

​

1,500

Total operating cost and expense

​

3,993

​

37,679

​

6,734

​

151,909

(Loss) income from discontinued operations before income taxes

​

​

(3,993)

​

​

3,426

​

​

(6,734)

​

​

1,535

(Loss) gain on disposal of discontinued operations before income taxes

​

​

(402)

​

​

474,003

​

​

(3,576)

​

​

474,003

Benefit from (provision for) income taxes

​

1,701

​

(134,089)

​

3,222

​

(134,201)

(Loss) income from discontinued operations

​

$

(2,694)

​

$

343,340

​

$

(7,088)

​

$

341,337

X

- References

No definition available.

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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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