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Segment Reporting
 9 Months Ended
Sep. 30, 2015
Segment Reporting [Abstract]  
Segment Reporting

14. 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. As of September 30, 2015, our three segments are:

University Group:

Colorado Technical University (CTU) places a strong focus on providing industry-relevant degree programs to meet the needs of our students for employment and of employers for a well-educated workforce and 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. Students pursue their degrees through fully-online programs through CTU Online, local campuses and blended formats, which combine campus-based and online education. As of September 30, 2015, students enrolled at CTU represented approximately 56% of our total enrollments. Approximately 91% of CTU’s enrollments are fully online.

American InterContinental University (AIU) focuses on helping busy professionals get the degree they need to move forward in their career as efficiently as possible and collectively offers academic programs in the career-oriented disciplines of business studies, information technologies, criminal justice and design technologies. Students pursue their degrees through fully-online programs through AIU Online, local campuses and blended formats, which combine campus-based and online education. As of September 30, 2015, students enrolled at AIU represented approximately 30% of our total enrollments. Approximately 92% of AIU’s enrollments are fully online.

Transitional Group includes our campuses which are currently being taught out. These campuses employ a gradual teach-out process, enabling them to continue to operate while current students complete their course of study; they no longer enroll new students. In addition, the Transitional Group includes campuses which have completed their teach-out activities or have been sold subsequent to January 1, 2015. As a result of a change in accounting guidance, these campuses remain within continuing operations. The campuses within the Transitional Group that have not yet ceased operations as of September 30, 2015 will complete their teach-outs on varying dates through 2018.

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

 

 

 

For the Quarter Ended September 30,

 

 

 

Revenue

 

 

Operating (Loss) Income

 

 

 

2015

 

 

% of Total

 

 

2014

 

 

% of Total

 

 

2015

 

 

2014

 

CTU

 

$

85,433

 

 

 

52.7

%

 

$

82,410

 

 

 

45.1

%

 

$

18,616

 

 

$

10,698

 

AIU

 

 

50,688

 

 

 

31.3

%

 

 

51,889

 

 

 

28.4

%

 

 

1,695

 

 

 

(4,194

)

Total University Group

 

 

136,121

 

 

 

84.0

%

 

 

134,299

 

 

 

73.5

%

 

 

20,311

 

 

 

6,504

 

Corporate and Other

 

 

39

 

 

 

0.0

%

 

 

52

 

 

 

0.0

%

 

 

(8,040

)

 

 

2,528

 

Transitional Group

 

 

25,914

 

 

 

16.0

%

 

 

48,474

 

 

 

26.5

%

 

 

(23,065

)

 

 

(40,764

)

Total

 

$

162,074

 

 

 

100.0

%

 

$

182,825

 

 

 

100.0

%

 

$

(10,794

)

 

$

(31,732

)

 

 

 

For the Year to Date Ended September 30,

 

 

 

Revenue

 

 

Operating (Loss) Income

 

 

 

2015

 

 

% of Total

 

 

2014

 

 

% of Total

 

 

2015

 

 

2014

 

CTU

 

$

256,734

 

 

 

49.5

%

 

$

254,371

 

 

 

44.9

%

 

$

57,495

 

 

$

46,136

 

AIU

 

 

155,778

 

 

 

30.0

%

 

 

154,147

 

 

 

27.2

%

 

 

3,982

 

 

 

(9,108

)

Total University Group

 

 

412,512

 

 

 

79.5

%

 

 

408,518

 

 

 

72.0

%

 

 

61,477

 

 

 

37,028

 

Corporate and Other

 

 

117

 

 

 

0.0

%

 

 

190

 

 

 

0.0

%

 

 

(20,936

)

 

 

(14,121

)

Transitional Group

 

 

106,527

 

 

 

20.5

%

 

 

158,443

 

 

 

27.9

%

 

 

(85,268

)

 

 

(87,839

)

Total

 

$

519,156

 

 

 

100.0

%

 

$

567,151

 

 

 

100.0

%

 

$

(44,727

)

 

$

(64,932

)

 

 

 

Total Assets as of  (1)

 

 

 

September 30, 2015

 

 

December 31, 2014

 

CTU

 

$

76,839

 

 

$

73,458

 

AIU

 

 

53,943

 

 

 

51,755

 

Total University Group

 

 

130,782

 

 

 

125,213

 

Corporate and Other

 

 

270,158

 

 

 

332,672

 

Transitional Group

 

 

17,578

 

 

 

37,355

 

Subtotal

 

 

418,518

 

 

 

495,240

 

Assets held for sale

 

 

29,239

 

 

 

76,846

 

Discontinued Operations

 

 

1,127

 

 

 

1,448

 

Total

 

$

448,884

 

 

$

573,534

 

 

(1)

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