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v3.24.3

Property and Equipment, Net | 3 Months Ended
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Sep. 30, 2024
Property, Plant And Equipment [Abstract] |
Property and Equipment, Net | 10. Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | September 30, | ​ | June 30,
​ | ​ | Useful Life | ​ | 2024 | ​ | 2024
Land |  | - |  | $ | 31,776 | ​ | $ | 31,776
Buildings and improvements | ​ | 10 - 31 years | ​ | ​ | 200,238 | ​ | ​ | 200,274
Leasehold improvements | ​ | Shorter of asset useful life or lease term | ​ | ​ | 115,148 | ​ | ​ | 114,019
Furniture and equipment | ​ | 3 - 8 years | ​ | ​ | 99,238 | ​ | ​ | 103,961
Software | ​ | 3 - 5 years | ​ | ​ | 115,429 | ​ | ​ | 113,219
Construction in progress | ​ | - | ​ | ​ | 11,723 | ​ | ​ | 11,554
Property and equipment, gross | ​ | ​ | ​ | ​ | 573,552 | ​ | ​ | 574,803
Accumulated depreciation | ​ | ​ | ​ |  | (329,049) | ​ |  | (326,279)
Property and equipment, net | ​ | ​ | ​ | $ | 244,503 | ​ | $ | 248,524
​ During the second quarter of fiscal year 2024, management committed to a plan to sell a building owned by Adtalem located in Naperville, Illinois, and the building met criteria to be classified as assets held for sale. As a result, the building’s carrying value of $8.4 million was adjusted to its estimated fair value less cost to sell of $7.8 million, and the resulting $0.6 million charge was recognized within student services and administrative expense in the Consolidated Statements of Income for the three months ended December 31, 2023. In addition, the building is presented as assets held for sale on the Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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