Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2019

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source

The following tables disaggregate our revenue by major source (dollars in thousands):

	For the Quarter Ended March 31, 2019
	CTU		AIU		Corporate and Other ⁽³⁾		Total
Tuition	$	92,618	$	58,230	$	-	$	150,848
Technology fees		3,449		2,378		-		5,827
Other miscellaneous fees⁽¹⁾		424		129		-		553
Total tuition and fees		96,491		60,737		-		157,228
Other revenue⁽²⁾		566		42		17		625
Total revenue	$	97,057	$	60,779	$	17	$	157,853


	For the Quarter Ended March 31, 2018
	CTU		AIU		Corporate and Other ⁽³⁾		Total
Tuition	$	90,734	$	51,131	$	331	$	142,196
Technology fees		2,874		1,840		-		4,714
Other miscellaneous fees⁽¹⁾		500		100		-		600
Total tuition and fees		94,108		53,071		331		147,510
Other revenue⁽²⁾		499		50		6		555
Total revenue	$	94,607	$	53,121	$	337	$	148,065

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(1)

Other miscellaneous fees include graduation fees and activity fees.

(2)

Other revenue primarily includes contract training revenue and bookstore and laptop sales.

(3)

Revenue recorded within Corporate and Other relates to closed campuses which are now reported within this category.

Summary of Contract Assets Offset with Deferred Revenue Balances

The amount of contract assets which are being offset with deferred revenue balances as of March 31, 2019 and December 31, 2018 were as follows (dollars in thousands):

	As of
	March 31, 2019			December 31, 2018
Gross deferred revenue	$	36,081		$	51,694
Gross contract assets		(11,792	)		(19,343	)
Deferred revenue, net	$	24,289		$	32,351

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters ended March 31, 2019 and 2018 were as follows (dollars in thousands):

	For the Quarter Ended March 31, 2019
	CTU			AIU			Corporate and Other ⁽²⁾			Total
Gross deferred revenue, January 1, 2019	$	24,250		$	27,444		$	-		$	51,694
Revenue earned from balances existing as of January 1, 2019		(22,344	)		(21,661	)		-			(44,005	)
Billings during period⁽¹⁾		97,516			43,033			-			140,549
Revenue earned for new billings during the period		(74,147	)		(39,076	)		-			(113,223	)
Other adjustments		626			440			-			1,066
Gross deferred revenue, March 31, 2019	$	25,901		$	10,180		$	-		$	36,081


	For the Quarter Ended March 31, 2018
	CTU			AIU			Corporate and Other ⁽²⁾			Total
Gross deferred revenue, January 1, 2018	$	23,933		$	15,507		$	104		$	39,544
Revenue earned from balances existing as of January 1, 2018		(20,623	)		(13,540	)		(38	)		(34,201	)
Billings during period⁽¹⁾		93,896			58,935			396			153,227
Revenue earned for new billings during the period		(73,485	)		(39,531	)		(293	)		(113,309	)
Other adjustments		304			44			(27	)		321
Gross deferred revenue, March 31, 2018	$	24,025		$	21,415		$	142		$	45,582

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(1)

Billings during period includes adjustments for prior billings.

(2)

Revenue recorded within Corporate and Other relates to closed campuses which are now reported within this category.