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Quarterly Financial Summary (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Summary | Summary financial information by quarter is as follows (dollars in thousands, except per share data):
|  | Quarter |  |  | Total |
2015 |  | First (2) |  |  | Second (3) |  |  | Third (4) |  |  | Fourth (5) |  |  | Year |
Revenue |  | $ | 227,014 |  |  | $ | 216,828 |  |  | $ | 203,484 |  |  | $ | 199,947 |  |  | $ | 847,273 |
Operating loss |  |  | (24,358 | ) |  |  | (19,892 | ) |  |  | (43,989 | ) |  |  | (3,929 | ) |  | $ | (92,168 | )
Net (loss) income |  |  | (24,881 | ) |  |  | (20,723 | ) |  |  | (45,235 | ) |  |  | 142,724 |  |  | $ | 51,885 |
Net (loss) income per share (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.37 | ) |  | $ | (0.31 | ) |  | $ | (0.67 | ) |  | $ | 2.10 |  |  | $ | 0.76 |
Diluted |  | $ | (0.37 | ) |  | $ | (0.31 | ) |  | $ | (0.67 | ) |  | $ | 2.08 |  |  | $ | 0.76 |
|  | Quarter |  |  | Total |
2014 |  | First |  |  | Second (6) |  |  | Third (7) |  |  | Fourth (8) |  |  | Year |
Revenue |  | $ | 240,401 |  |  | $ | 228,738 |  |  | $ | 227,324 |  |  | $ | 217,501 |  |  | $ | 913,964 |
Operating loss |  |  | (39,995 | ) |  |  | (31,023 | ) |  |  | (44,334 | ) |  |  | (23,920 | ) |  | $ | (139,272 | )
Net loss |  |  | (58,143 | ) |  |  | (46,564 | ) |  |  | (47,968 | ) |  |  | (25,488 | ) |  | $ | (178,163 | )
Net loss per share (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted |  | $ | (0.87 | ) |  | $ | (0.69 | ) |  | $ | (0.71 | ) |  | $ | (0.38 | ) |  | $ | (2.65 | )
(1) | Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the annual earnings per share amount for the corresponding year.
For the year ended December 31, 2015, quarterly results included:
(2) | First quarter of 2015 net loss included $6.0 million of impairment charges related to the Transitional Group.
(3) | Second quarter of 2015 net loss included $9.7 million of impairment charges related to Culinary Arts and $1.7 million of impairment charges related to the Transitional Group.
(4) | Third quarter of 2015 net losses included $33.4 million of impairment charges related to Culinary Arts.
(5) | Fourth quarter of 2015 net income included $9.7 million of impairment charges, of which $9.0 million was related to Culinary Arts. Furthermore, fourth quarter of 2015 net income included a $109.8 million benefit related to the partial release of our valuation allowance recorded against our deferred tax assets.
For the year ended December 31, 2014, quarterly results included:
(6) | Second quarter of 2014 net loss included $7.4 million of trade name impairment charges related to Culinary Arts.
(7) | Third quarter of 2014 net loss included $3.0 million of trade name impairments, $11.5 million of asset impairment charges and $8.6 million of income related to an insurance recovery.
(8) | Fourth quarter of 2014 net loss included $14.2 million of trade name and asset impairment charges, of which $10.3 million was related to Culinary Arts. Additionally, the fourth quarter of 2014 included a decrease of $12.3 million of revenue, a decrease of $9.9 million of bad debt expense for a cumulative adjustment related to revenue recognition for withdrawn students.

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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 + Details
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