Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2019								For the Quarter Ended June 30, 2018
	CTU		AIU		Corporate and Other⁽³⁾		Total		CTU		AIU		Corporate and Other⁽³⁾		Total
Tuition	$	90,903	$	57,341	$	-	$	148,244	$	89,291	$	46,654	$	160	$	136,105
Technology fees		4,590		2,391		-		6,981		2,857		1,784		-		4,641
Other miscellaneous fees⁽¹⁾		463		91		-		554		489		90		19		598
Total tuition and fees		95,956		59,823		-		155,779		92,637		48,528		179		141,344
Other revenue⁽²⁾		599		50		13		662		629		51		12		692
Total revenue	$	96,555	$	59,873	$	13	$	156,441	$	93,266	$	48,579	$	191	$	142,036


	For the Year to Date Ended June 30, 2019								For the Year to Date Ended June 30, 2018
	CTU		AIU		Corporate and Other⁽³⁾		Total		CTU		AIU		Corporate and Other⁽³⁾		Total
Tuition	$	183,521	$	115,571	$	-	$	299,092	$	180,025	$	97,785	$	491	$	278,301
Technology fees		8,039		4,769		-		12,808		5,731		3,624		-		9,355
Other miscellaneous fees⁽¹⁾		887		220		-		1,107		989		190		19		1,198
Total tuition and fees		192,447		120,560		-		313,007		186,745		101,599		510		288,854
Other revenue⁽²⁾		1,165		92		30		1,287		1,128		101		18		1,247
Total revenue	$	193,612	$	120,652	$	30	$	314,294	$	187,873	$	101,700	$	528	$	290,101

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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 June 30, 2019 and December 31, 2018 were as follows (dollars in thousands):

	As of
	June 30, 2019			December 31, 2018
Gross deferred revenue	$	45,801		$	51,694
Gross contract assets		(17,137	)		(19,343	)
Deferred revenue, net	$	28,664		$	32,351

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters and years to date ended June 30, 2019 and 2018 were as follows (dollars in thousands):

	For the Quarter Ended June 30, 2019											For the Quarter Ended June 30, 2018
	CTU			AIU			Corporate and Other⁽²⁾		Total			CTU			AIU			Corporate and Other⁽²⁾			Total
Gross deferred revenue, April 1,	$	25,901		$	10,180		$	-	$	36,081		$	24,025		$	21,415		$	142		$	45,582
Revenue earned from balances existing as of April 1,		(23,679	)		(8,860	)		-		(32,539	)		(22,347	)		(18,420	)		(142	)		(40,909	)
Billings during period⁽¹⁾		95,424			69,368			-		164,792			92,201			40,457			99			132,757
Revenue earned for new billings during the period		(72,277	)		(50,963	)		-		(123,240	)		(70,290	)		(30,108	)		(37	)		(100,435	)
Other adjustments		456			251			-		707			165			92			8			265
Gross deferred revenue, June 30,	$	25,825		$	19,976		$	-	$	45,801		$	23,754		$	13,436		$	70		$	37,260


	For the Year to Date Ended June 30, 2019											For the Year to Date Ended June 30, 2018
	CTU			AIU			Corporate and Other⁽²⁾		Total			CTU			AIU			Corporate and Other⁽²⁾			Total
Gross deferred revenue, January 1,	$	24,250		$	27,444		$	-	$	51,694		$	23,933		$	15,507		$	104		$	39,544
Revenue earned from balances existing as of January 1,		(22,335	)		(21,785	)		-		(44,120	)		(22,210	)		(14,310	)		(104	)		(36,624	)
Billings during period⁽¹⁾		192,940			112,401			-		305,341			186,097			99,392			495			285,984
Revenue earned for new billings during the period		(170,112	)		(98,775	)		-		(268,887	)		(164,535	)		(87,289	)		(406	)		(252,230	)
Other adjustments		1,082			691			-		1,773			469			136			(19	)		586
Gross deferred revenue, June 30,	$	25,825		$	19,976		$	-	$	45,801		$	23,754		$	13,436		$	70		$	37,260

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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.