XML 41 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.8

QUARTERLY FINANCIAL SUMMARY (UNAUDITED) | 12 Months Ended
--- | ---
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract] |
QUARTERLY FINANCIAL SUMMARY (UNAUDITED) | 19. QUARTERLY FINANCIAL SUMMARY (UNAUDITED) Summary financial information by quarter is as follows (dollars in thousands, except per share data):
|  | Quarter |  |  |  |
2013 |  | First (3) |  |  | Second (4) |  |  | Third (5) |  |  | Fourth (6) |  |  | Total Year |
Revenue (1) |  | $ | 290,203 |  |  | $ | 268,839 |  |  | $ | 251,224 |  |  | $ | 247,094 |  |  | $ | 1,057,360 |
Operating loss (1) |  |  | (29,625 | ) |  |  | (58,825 | ) |  |  | (67,209 | ) |  |  | (59,025 | ) |  | $ | (214,684 | )
Net loss |  |  | (15,203 | ) |  |  | (31,390 | ) |  |  | (87,064 | ) |  |  | (30,606 | ) |  | $ | (164,263 | )
Net loss per share (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted |  | $ | (0.23 | ) |  | $ | (0.47 | ) |  | $ | (1.30 | ) |  | $ | (0.46 | ) |  | $ | (2.46 | )
|  | Quarter |  |  |  |
2012 |  | First (3) |  |  | Second (4) |  |  | Third |  |  | Fourth (6) |  |  | Total Year |
Revenue (1) |  | $ | 383,701 |  |  | $ | 343,013 |  |  | $ | 314,890 |  |  | $ | 303,276 |  |  | $ | 1,344,880 |
Operating income (loss) (1) |  |  | 34,951 |  |  |  | (100,863 | ) |  |  | (39,562 | ) |  |  | (91,527 | ) |  | $ | (197,001 | )
Net income (loss) |  |  | 52,076 |  |  |  | (100,234 | ) |  |  | (33,146 | ) |  |  | (61,492 | ) |  | $ | (142,796 | )
Net income (loss) per share (2) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted |  | $ | 0.78 |  |  | $ | (1.52 | ) |  | $ | (0.50 | ) |  | $ | (0.93 | ) |  | $ | (2.15 | )
(1) | As of December 31, 2013, the results of operations for campuses that were taught out or schools that were sold during 2013, (see Note 2 “Summary of Significant Accounting Polices” of the notes to our consolidated financial statements for further information) along with our campuses that had previously ceased operations or were sold, are presented within discontinued operations for all periods presented.
(2) | Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the annual earnings per share amount for the corresponding year.
(3) | First quarter of 2013 net loss included a $6.7 million loss on sale of AIU London. First quarter of 2012 net income included a $19.0 million insurance recovery related to the settlement of claims under certain insurance policies.
(4) | Second quarter of 2013 net loss included $10.0 million related to the settlement of a legal matter and $4.0 million in trade name impairment charges. Second quarter of 2012 net loss included $85.6 million in goodwill and asset impairment charges, of which $1.0 million was recorded within loss from discontinued operations.
(5) | Third quarter of 2013 net loss included $11.6 million of trade name and asset impairment charges.
(6) | Fourth quarter of 2013 net loss included a $130.1 million gain related to the sale of our International Segment, a $72.2 million valuation allowance recorded against our deferred tax assets, $15.5 million for a pending legal settlement and $7.0 million in asset impairment charges. Fourth quarter of 2012 net loss included $40.8 million in asset impairment charges and $13.1 million in severance and related charges in conjunction with a reduction in force and campus closure announcements for our continuing operations.

X
- Details
Name: | us-gaap_QuarterlyFinancialInformationDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration