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Quarterly Financial Summary (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2016
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 |
2016 |  | First |  |  | Second |  |  | Third |  |  | Fourth (2) |  |  | Year |
Revenue |  | $ | 198,886 |  |  | $ | 182,626 |  |  | $ | 167,625 |  |  | $ | 155,255 |  |  | $ | 704,392 |
Operating income (loss) |  |  | 6,979 |  |  |  | 17,290 |  |  |  | (706 | ) |  |  | (55,907 | ) |  | $ | (32,344 | )
Net income (loss) |  |  | 3,011 |  |  |  | 11,839 |  |  |  | (686 | ) |  |  | (32,876 | ) |  | $ | (18,712 | )
Net income (loss) per share (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.04 |  |  | $ | 0.17 |  |  | $ | (0.01 | ) |  | $ | (0.48 | ) |  | $ | (0.27 | )
Diluted |  | $ | 0.04 |  |  | $ | 0.17 |  |  | $ | (0.01 | ) |  | $ | (0.48 | ) |  | $ | (0.27 | )
|  | Quarter |  |  | Total |
2015 |  | First (3) |  |  | Second (4) |  |  | Third (5) |  |  | Fourth (6) |  |  | 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 |
| (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, 2016, quarterly results included:
(2) | Fourth quarter of 2016 net loss included $32.0 million of legal settlements for AIU, $0.4 million of asset impairment charges related to Culinary Arts and $0.5 million of asset impairments charges related to Transitional Group as well as $22.5 million of unused space charges, of which $4.2 million relates to discontinued operations with the remainder relating to our teach-out segments.
For the year ended December 31, 2015, quarterly results included:
(3) | First quarter of 2015 net loss included $6.0 million of impairment charges related to the Transitional Group.
(4) | 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.
(5) | Third quarter of 2015 net losses included $33.4 million of impairment charges related to Culinary Arts.
(6) | 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.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, 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=68076893&loc=d3e1280-108306 + Details
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