Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2016

Summary Financial Information by Reporting Segment

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

	For the Quarter Ended June 30,
	Revenue										Operating (Loss) Income
	2016		% of Total			2015		% of Total			2016			2015
CTU ⁽¹⁾	$	91,736		50.2	%	$	86,174		39.7	%	$	29,970		$	24,263
AIU ⁽²⁾		50,608		27.7	%		52,024		24.0	%		6,838			5,174
Total University Group		142,344		77.9	%		138,198		63.7	%		36,808			29,437
Corporate and Other		-		0.0	%		39		0.0	%		(5,761	)		(7,036	)
Subtotal		142,344		77.9	%		138,237		63.8	%		31,047			22,401
Culinary Arts		29,998		16.4	%		42,048		19.4	%		361			(10,560	)
Transitional Group		10,284		5.6	%		36,543		16.9	%		(14,118	)		(31,733	)
Total	$	182,626		100.0	%	$	216,828		100.0	%	$	17,290		$	(19,892	)

	For the Year to Date Ended June 30,
	Revenue										Operating (Loss) Income
	2016		% of Total			2015		% of Total			2016			2015
CTU ⁽¹⁾	$	183,702		48.2	%	$	171,301		38.6	%	$	49,207		$	38,879
AIU ⁽²⁾		103,581		27.2	%		105,090		23.7	%		8,745			2,287
Total University Group		287,283		75.3	%		276,391		62.3	%		57,952			41,166
Corporate and Other		-	NM				78		0.0	%		(11,573	)		(12,896	)
Subtotal		287,283		75.3	%		276,469		62.3	%		46,379			28,270
Culinary Arts		68,621		18.0	%		86,760		19.5	%		3,467			(10,317	)
Transitional Group		25,608		6.7	%		80,613		18.2	%		(25,577	)		(62,203	)
Total	$	381,512		100.0	%	$	443,842		100.0	%	$	24,269		$	(44,250	)

	Total Assets as of⁽³⁾
	June 30, 2016		December 31, 2015
CTU	$	75,469	$	76,577
AIU		53,404		53,087
Total University Group		128,873		129,664
Corporate and Other		327,345		372,405
Subtotal		456,218		502,069
Culinary Arts		64,554		71,197
Transitional Group		23,169		28,584
Discontinued Operations		8,853		9,065
Total	$	552,794	$	610,915

(1)

Bad debt increased approximately 0.3% and 2.4% as a percentage of revenue for the quarter and year to date ended June 30, 2016 as compared to the respective prior periods, primarily driven by students who are experiencing a greater time lag while completing the financial aid application process due to increased verification procedures implemented by ED.

(2)

Bad debt increased approximately 1.4% and 1.7% as a percentage of revenue for the quarter and year to date ended June 30, 2016 as compared to the respective prior periods, primarily driven by students who are experiencing a greater time lag while completing the financial aid application process due to increased verification procedures implemented by ED.

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