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Dispositions | 6 Months Ended
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Jun. 30, 2015
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Dispositions | 4. DISPOSITIONS On June 16, 2015, we completed the sale of our Brooks Institute campuses, located in Ventura, California, to Gphomestay, a global leader in providing international education opportunities for students. This sale reflects our strategy to focus our resources and attention on our universities – Colorado Technical University and American InterContinental University, where we see continued opportunities to improve growth and continue to provide quality higher education to the adult student markets. The sale does not meet the definition of a strategic shift under ASC Topic 360 and is therefore reported within continuing operations in accordance with FASB ASC Topic 205 – Presentation of Financial Statements. We received no consideration for the sale of Brooks Institute and recorded a loss on sale of $0.9 million for the quarter ended June 30, 2015. The terms of the agreement provided that we make certain working capital payments to the buyer, accordingly these amounts were included in the loss calculation. The loss on sale is included within other (expense) income on our unaudited condensed consolidated statements of loss and comprehensive loss.

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