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SEGMENT REPORTING
 3 Months Ended
Mar. 31, 2014
Segment Reporting [Abstract]  
SEGMENT REPORTING

12. SEGMENT REPORTING

Our segments are determined in accordance with FASB ASC Topic 280—Segment Reporting and are based upon how the Company analyzes performance and makes decisions. Effective January 2014, we have changed our segment reporting to align with the manner in which we are now managing the business. Each segment represents a group of postsecondary education providers that offer a variety of degree and non-degree academic programs. These segments are organized by key market segments to enhance brand focus and operational alignment within each segment to more effectively execute our strategic plan. Our reporting segments are described below.

University Schools:

Colorado Technical University (CTU) collectively offers academic programs in the career-oriented disciplines of business studies, information systems and technologies, criminal justice, computer science and engineering, and health sciences in an online, classroom or laboratory setting.

American InterContinental University (AIU) collectively offers academic programs in the career-oriented disciplines of business studies, information technologies, criminal justice and design technologies in an online, classroom or laboratory setting.

Career Schools:

Career Colleges includes Briarcliffe College, Brooks Institute, Harrington College of Design, Missouri College and our Sanford-Brown institutions. As of March 31, 2014, we announced the rebranding efforts related to our IADT and Brown College institutions; these institutions are now united under the Sanford-Brown name. The Career Colleges group collectively offer academic programs primarily in the career-oriented disciplines of health education that are complemented by certain programs in business studies and information technology, as well as visual communications, fashion design, photography, interior design, graphic design and video production, in a classroom, laboratory or online setting. In addition, continuing education and short-term vocational programs in the area of energy conservation are offered.

Culinary Arts includes our Le Cordon Bleu institutions in North America which collectively offer hands-on educational programs in the career-oriented disciplines of culinary arts and patisserie and baking in the commercial-grade kitchens of Le Cordon Bleu. Le Cordon Bleu also provides online programs in culinary arts and hotel and restaurant management.

Transitional Schools includes our campuses that are currently being taught out.

We evaluate segment performance based on operating results. Adjustments to reconcile segment results to consolidated results are included under the caption “Corporate and Other,” which primarily includes unallocated corporate activity and eliminations.

Summary financial information by reporting segment is as follows (dollars in thousands):

 

     For the Quarter Ended March 31,  
     Revenue      Operating (Loss) Income  
     2014      2013      2014     2013  

CTU

    $ 87,031       $ 90,209       $ 14,186      $ 15,912   

AIU

      52,573         66,299         (3,583 )      3,146   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total University Schools

      139,604         156,508         10,603        19,058   
  

 

 

     

 

 

     

 

 

    

 

 

  

Career Colleges

      53,040         59,786         (17,150 )      (15,003 ) 

Culinary Arts

      42,246         45,938         (18,046 )      (12,137 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Career Schools

      95,286         105,724         (35,196 )      (27,140 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Corporate and Other

      100         —           (11,136 )      (6,368 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Subtotal

      234,990         262,232         (35,729 )      (14,450 ) 

Transitional Schools

      8,115         22,218         (12,143 )      (10,580 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total

    $ 243,105       $ 284,450       $ (47,872 )    $ (25,030 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

 

     Total Assets as of (1)  
     March 31,
2014		      December 31,
2013		  

CTU

    $ 74,253       $ 75,441   

AIU

      53,431         54,426   
  

 

 

     

 

 

  

Total University Schools

      127,684         129,867   
  

 

 

     

 

 

  

Career Colleges

      55,713         58,718   

Culinary Arts

      104,230         108,349   
  

 

 

     

 

 

  

Total Career Schools

      159,943         167,067   
  

 

 

     

 

 

  

Corporate and Other

      440,458         491,674   
  

 

 

     

 

 

  

Subtotal

      728,085         788,608   

Transitional Schools

      11,484         13,433   

Discontinued Operations

      1,929         3,004   
  

 

 

     

 

 

  

Total

    $ 741,498       $ 805,045   
  

 

 

     

 

 

  

 

(1) Total assets do not include intercompany receivable or payable activity between schools and corporate and investments in subsidiaries.