XML 37 R11.htm IDEA: XBRL DOCUMENT v3.23.3
Assets Held for Sale
 9 Months Ended
Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held for Sale Assets Held for Sale
During the second quarter of 2023, two of the Company’s subsidiaries that operate K-12 educational programs in Mexico met the criteria for classification as held for sale under ASC 360-10-45-9, “Long-Lived Assets Classified as Held for Sale.” The sale of the K-12 campuses is intended to allow the Mexico segment to focus on its core business. The planned sale of this disposal group does not represent a strategic shift and therefore does not qualify for presentation as a discontinued operation in the Consolidated Financial Statements. In addition, during the third quarter of 2023, a parcel of land at one of our campuses in Mexico met the criteria for classification as held for sale under ASC 360-10-45-9. The assets and liabilities are recorded at the lower of their carrying values or their estimated fair values less costs to sell. The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are presented in the following table:

September 30, 2023December 31, 2022
Assets Held for Sale
Cash and cash equivalents$314 $— 
Receivables, net408 — 
Property and equipment, net1,683 — 
Operating lease right-of-use assets, net8,839 — 
Other assets15 — 
Total assets held for sale$11,259 $— 

Liabilities Held for Sale
Deferred revenue and student deposits$906 $— 
Operating leases, including current portion8,956 — 
Long-term debt, including current portion840 — 
Other liabilities781 — 
Total liabilities held for sale$11,483 $— 

The long-term debt balance represents a finance lease for property.