Segment Reporting

3 Months Ended

Mar. 31, 2019

12. 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 is comprised of a postsecondary education institution that offers a variety of academic programs. These segments are organized by key market segments and to enhance brand focus within each segment to more effectively execute our strategic plan. As of March 31, 2019, our two segments are:

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Colorado Technical University (CTU) places a strong focus on providing industry-relevant degree programs to meet the needs of our non-traditional students for career advancement and of employers for a well-educated workforce and offers academic programs in the career-oriented disciplines of business studies, nursing, computer science, engineering, information systems and technology, cybersecurity, criminal justice and healthcare management. Students pursue their degrees through fully-online programs, local campuses and blended formats which combine campus-based and online education. As of March 31, 2019, students enrolled at CTU represented approximately 65% of our total enrollments. Approximately 93% of CTU’s enrollments are fully online.

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American InterContinental University (AIU) focuses on helping non-traditional students get the degree they need to move forward in their career as efficiently as possible and offers academic programs in the career-oriented disciplines of business studies, information technologies, education and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats which combine campus-based and online education. As of March 31, 2019, students enrolled at AIU represented approximately 35% of our total enrollments. Approximately 94% of AIU’s enrollments are fully online.

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

	For the Quarter Ended March 31,

	Revenue										Operating Income (Loss)
	2019		% of Total			2018		% of Total			2019			2018
CTU	$	97,057		61.5	%	$	94,607		63.9	%	$	29,691		$	27,185
AIU		60,779		38.5	%		53,121		35.9	%		8,312			4,136
Total University Group		157,836		100.0	%		147,728		99.8	%		38,003			31,321
Corporate and Other ⁽¹⁾		17	NM				337		0.2	%		(8,032	)		(10,792	)
Total	$	157,853		100.0	%	$	148,065		100.0	%	$	29,971		$	20,529

	Total Assets as of⁽²⁾
	March 31, 2019		December 31, 2018
CTU	$	98,631	$	76,713
AIU		67,500		59,133
Total University Group		166,131		135,846
Corporate and Other ⁽¹⁾		363,727		346,469
Discontinued Operations		298		178
Total	$	530,156	$	482,493

(1)	Corporate and Other includes results of operations for closed campuses.

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