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Dispositions | 12 Months Ended
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Dec. 31, 2015
Discontinued Operations And Disposal Groups [Abstract] |
Dispositions | 4. DISPOSITIONS During 2015, we completed the sale of our Brooks Institute and Missouri College campuses. The Brooks Institute, located in Ventura, California, was sold to Gphomestay, a global leader in providing international education opportunities for students, and Missouri College, located in Brentwood, Missouri, was sold to Weston Education Group, a postsecondary education school providing a variety of certificate and degree programs to students for thirty-four years. These sales reflect our strategy to focus our resources and attention on our universities – CTU and AIU, where we see continued opportunities to improve growth and continue to provide quality higher education to the adult student market. The sales do not meet the definition of a strategic shift under ASC Topic 360 and are 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 Missouri College and recorded a loss on sale of $0.9 million each for the year ended December 31, 2015. The terms of the agreements provided that we make certain working capital payments to the buyers; accordingly these amounts were included in the loss calculations. The loss on sale is included within other (expense) income on our consolidated statements of income (loss) and comprehensive income (loss) for the year ended December 31, 2015.

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