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Discontinued Operations | 9 Months Ended
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Mar. 31, 2025
Discontinued Operations And Disposal Groups [Abstract] |
Discontinued Operations | 3. Discontinued Operations On December 11, 2018, Adtalem completed the sale of DeVry University to Cogswell Education, LLC (“Cogswell”) for de minimis consideration. As the sale represented a strategic shift that had a major effect on Adtalem’s operations and financial results, DeVry University is presented in Adtalem’s Consolidated Financial Statements as a discontinued operation. The purchase agreement includes an earn-out entitling Adtalem to payments of up to $20.0 million over a ten-year period payable based on DeVry University’s financial results. Adtalem received $7.0 million and $5.5 million during the second quarter of fiscal year 2025 and 2024, respectively, related to the earn-out. To date, we have received a total of $19.5 million related to the earn-out. The following is a summary of income statement information reported as discontinued operations, which includes expense from ongoing litigation costs and settlements related to divestitures and the earn-outs we received (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | March 31, | ​ | March 31,
​ | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024
Revenue | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Operating cost and expense: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Student services and administrative expense | ​ |  | (52) | ​ |  | 832 | ​ |  | (6,216) | ​ |  | (329)
Total operating cost and expense | ​ |  | (52) | ​ |  | 832 | ​ |  | (6,216) | ​ |  | (329)
Income (loss) from discontinued operations before income taxes | ​ | ​ | 52 | ​ | ​ | (832) | ​ | ​ | 6,216 | ​ | ​ | 329
(Provision for) benefit from income taxes | ​ |  | (14) | ​ |  | 212 | ​ |  | (1,578) | ​ |  | (84)
Income (loss) from discontinued operations | ​ | $ | 38 | ​ | $ | (620) | ​ | $ | 4,638 | ​ | $ | 245
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- Definition The entire disclosure 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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