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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
SEGMENT REPORTING

13. 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. 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. The Career Colleges group collectively offers academic programs primarily in the career-oriented discipline of health education 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.

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 June 30,  
     Revenue      Operating (Loss) Income  
     2014      2013      2014     2013  

CTU

    $ 85,041       $ 86,557       $ 20,957      $ 17,062   

AIU

      49,685         59,935         (1,331 )      1,021   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total University Schools

      134,726         146,492         19,626        18,083   
  

 

 

     

 

 

     

 

 

    

 

 

  

Career Colleges (1)

      47,128         54,160         (18,836 )      (29,960 ) 

Culinary Arts (2)

      42,566         44,577         (19,772 )      (17,017 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Career Schools

      89,694         98,737         (38,608 )      (46,977 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Corporate and Other

      38         —           (5,513 )      (11,050 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Subtotal

      224,458         245,229         (24,495 )      (39,944 ) 

Transitional Schools

      4,834         14,272         (8,841 )      (9,716 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total

    $ 229,292       $ 259,501       $ (33,336 )    $ (49,660 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

 

     For the Year to Date Ended June 30,  
     Revenue      Operating (Loss) Income  
     2014      2013      2014     2013  

CTU

    $ 171,961       $ 176,319       $ 35,438      $ 33,317   

AIU

      102,258         126,234         (4,914 )      4,167   
  

 

 

     

 

 

     

 

 

    

 

 

  

Total University Schools

      274,219         302,553         30,524        37,484   
  

 

 

     

 

 

     

 

 

    

 

 

  

Career Colleges (1)

      99,809         113,066         (35,135 )      (44,153 ) 

Culinary Arts (2)

      84,813         90,515         (37,818 )      (29,154 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total Career Schools

      184,622         203,581         (72,953 )      (73,307 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Corporate and Other

      138         —           (16,649 )      (17,418 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Subtotal

      458,979         506,134         (59,078 )      (53,241 ) 

Transitional Schools

      11,680         30,678         (16,149 )      (16,103 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  

Total

    $ 470,659       $ 536,812       $ (75,227 )    $ (69,344 ) 
  

 

 

     

 

 

     

 

 

    

 

 

  
     Total Assets as of (3)               
     June 30,
2014		      December 31,
2013		               

CTU

    $ 74,402       $ 75,275        

AIU

      52,876         54,426        
  

 

 

     

 

 

       

Total University Schools

      127,278         129,701        
  

 

 

     

 

 

       

Career Colleges

      53,687         57,670        

Culinary Arts

      93,016         108,349        
  

 

 

     

 

 

       

Total Career Schools

      146,703         166,019        
  

 

 

     

 

 

       

Corporate and Other

      383,762         491,669        
  

 

 

     

 

 

       

Subtotal

      657,743         787,389        

Transitional Schools

      7,985         11,175        

Discontinued Operations

      1,752         6,481        
  

 

 

     

 

 

       

Total

    $ 667,480       $ 805,045        
  

 

 

     

 

 

       

 

(1) The second quarter of 2013 operating loss includes $8.3 million related to the settlement of a legal matter and a $1.7 million trade name impairment charge.
(2) The second quarters of 2014 and 2013 operating loss include a $7.4 million and $2.3 million trade name impairment charge, respectively.
(3) Total assets do not include intercompany receivable or payable activity between schools and corporate and investments in subsidiaries.