Three Months Ended

Six Months Ended

December 31,

2023

2022

2023

2022

Revenue:

Chamberlain

$

153,553

$

141,396

$

296,149

$

276,801

Walden

146,808

131,940

288,416

262,841

Medical and Veterinary

92,881

89,498

177,522

177,461

Total consolidated revenue

$

393,242

$

362,834

$

762,087

$

717,103

Adjusted operating income:

Chamberlain

$

29,640

$

33,229

$

53,964

$

60,231

Walden

30,155

29,012

61,270

53,553

Medical and Veterinary

22,091

22,549

36,568

39,613

Home Office and Other

(6,317)

(6,885)

(12,924)

(8,725)

Total consolidated adjusted operating income

75,569

77,905

138,878

144,672

Reconciliation to Consolidated Financial Statements:

Restructuring expense

(68)

(1,363)

(744)

(16,428)

Business integration expense

(6,909)

(14,816)

(12,171)

(24,356)

Intangible amortization expense

(9,333)

(16,176)

(20,010)

(34,704)

Litigation reserve

—

(18,500)

—

Loss on assets held for sale

(647)

—

(647)

—

Total consolidated operating income

58,612

45,550

86,806

69,184

Interest expense

(16,693)

(15,589)

(32,350)

(33,349)

Other income (expense), net

3,563

(1,440)

5,777

(679)

Total consolidated income from continuing operations before income taxes

$

45,482

$

28,521

$

60,233

$

35,156

Capital expenditures:

Chamberlain

$

5,757

$

1,492

$

11,042

$

2,918

Walden

2,619

268

5,561

1,093

Medical and Veterinary

1,935

342

3,280

915

Home Office and Other

4,971

2,094

10,445

4,821

Total consolidated capital expenditures

$

15,282

$

4,196

$

30,328

$

9,747

Depreciation expense:

Chamberlain

$

5,162

$

4,099

$

9,478

$

8,580

Walden

2,305

2,269

4,467

4,864

Medical and Veterinary

3,110

3,031

6,054

6,136

Home Office and Other

359

1,257

715

1,881

Total consolidated depreciation expense

$

10,936

$

10,656

$

20,714

$

21,461

Intangible amortization expense:

Walden

$

9,333

$

16,176

$

20,010

$

34,704

Total consolidated intangible amortization expense

$

9,333

$

16,176

$

20,010

$

34,704