Three Months Ended

Nine Months Ended

March 31,

2023

2022

2023

2022

Revenue:

Chamberlain

$

149,737

$

142,550

$

426,538

$

417,310

Walden

132,874

139,081

395,715

348,325

Medical and Veterinary

86,471

82,650

263,932

255,560

Total consolidated revenue

$

369,082

$

364,281

$

1,086,185

$

1,021,195

Adjusted operating income:

Chamberlain

$

39,589

$

38,910

$

99,820

$

85,556

Walden

24,628

25,843

78,181

68,796

Medical and Veterinary

16,893

18,140

56,506

50,157

Home Office and Other

(8,142)

(6,685)

(16,867)

(26,467)

Total consolidated adjusted operating income

72,968

76,208

217,640

178,042

Reconciliation to Consolidated Financial Statements:

Deferred revenue adjustment

—

(8,561)

CEO transition costs

—

(6,195)

Restructuring expense

(1,278)

(10,518)

(17,706)

(16,999)

Business acquisition and integration expense

(11,346)

(5,924)

(35,702)

(41,537)

Intangible amortization expense

(14,232)

(26,817)

(48,936)

(73,967)

Gain on sale of assets

13,317

—

13,317

—

Total consolidated operating income

59,429

32,949

128,613

30,783

Interest expense

(14,457)

(36,585)

(47,806)

(109,907)

Other income (expense), net

3,980

(327)

3,301

2,435

Total consolidated income (loss) from continuing operations before income taxes

$

48,952

$

(3,963)

$

84,108

$

(76,689)

Capital expenditures:

Chamberlain

$

4,002

$

3,255

$

6,920

$

9,869

Walden

1,198

1,629

2,291

4,561

Medical and Veterinary

1,277

891

2,192

2,650

Home Office and Other

2,832

1,702

7,653

5,169

Total consolidated capital expenditures

$

9,309

$

7,477

$

19,056

$

22,249

Depreciation expense:

Chamberlain

$

4,405

$

4,738

$

12,985

$

14,048

Walden

2,439

2,573

7,303

6,801

Medical and Veterinary

3,231

3,397

9,367

10,497

Home Office and Other

82

633

1,963

2,125

Total consolidated depreciation expense

$

10,157

$

11,341

$

31,618

$

33,471

Intangible asset amortization expense:

Walden

$

14,232

$

26,817

$

48,936

$

73,967

Total consolidated intangible asset amortization expense

$

14,232

$

26,817

$

48,936

$

73,967