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Discontinued Operations and Assets Held for Sale (Tables) | 6 Months Ended
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Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Summary of major classes of assets and liabilities reclassified to held for sale | Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables:
For the three months ended June 30, | 2020 |  | 2019
Revenues | $ | 25,550 |  |  | $ | 157,347 |
Depreciation and amortization | — |  |  | 399 |
Share-based compensation expense | 6 |  |  | 106 |
Other direct costs | 23,274 |  |  | 126,202 |
Loss on impairment of assets | 9,967 |  |  | — |
Operating (loss) income | (7,697) |  |  | 30,640 |
Other non-operating (loss) income | (2,565) |  |  | 3,362 |
Pretax (loss) income of discontinued operations | (10,262) |  |  | 34,002 |
Income tax expense | (1,909) |  |  | (3,722) |
(Loss) income from discontinued operations, net of tax | $ | (12,171) |  |  | $ | 30,280 |
For the six months ended June 30, | 2020 |  | 2019
Revenues | $ | 58,796 |  |  | $ | 380,686 |
Depreciation and amortization | — |  |  | 834 |
Share-based compensation expense | 9 |  |  | 269 |
Loss on impairment of assets | 9,967 |  |  | — |
Other direct costs | 50,822 |  |  | 278,639 |
Operating (loss) income | (2,002) |  |  | 100,944 |
Other non-operating (loss) income | (10,582) |  |  | 6,528 |
Pretax (loss) income of discontinued operations | (12,584) |  |  | 107,472 |
Income tax expense | (3,391) |  |  | (13,863) |
(Loss) income from discontinued operations, net of tax | $ | (15,975) |  |  | $ | 93,609 |
Operating cash flows of discontinued operations | $ | (4,708) |  |  | $ | 31,309 |
Investing cash flows of discontinued operations | $ | (551) |  |  | $ | (11,561) |
Financing cash flows of discontinued operations | $ | (1,856) |  |  | $ | (31,964) |
The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are presented in the following tables:
| June 30, 2020 |  | December 31, 2019
Assets of Discontinued Operations |  |  |
Cash and cash equivalents | $ | 34,246 |  |  | $ | 55,401 |
Receivables, net | 20,840 |  |  | 14,762 |
Property and equipment, net | 119,696 |  |  | 182,530 |
Goodwill | 9,427 |  |  | 9,753 |
Tradenames | 6,832 |  |  | 6,890 |
Operating lease right-of-use assets, net | 25,572 |  |  | 59,231 |
Other assets | 25,863 |  |  | 52,730 |
Subtotal: assets of Discontinued Operations | $ | 242,476 |  |  | $ | 381,297 |
Other assets classified as held for sale |  |  |
Property and equipment, net | 7,010 |  |  | 8,476 |
Total assets held for sale | $ | 249,486 |  |  | $ | 389,773 |
| June 30, 2020 |  | December 31, 2019
Liabilities of Discontinued Operations |  |  |
Deferred revenue and student deposits | $ | 15,149 |  |  | $ | 14,287 |
Operating leases, including current portion | 26,493 |  |  | 63,304 |
Long-term debt and finance leases, including current portion | 31,778 |  |  | 55,495 |
Other liabilities | 45,257 |  |  | 56,032 |
Total liabilities held for sale | $ | 118,677 |  |  | $ | 189,118 |

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