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Business Acquisition (Tables)

3 Months Ended

Mar. 31, 2020

Business Combinations [Abstract]

Summary of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary estimated fair values of assets acquired and liabilities assumed as of March 2, 2020 (dollars in thousands):

		March 2, 2020
Assets:
Student receivables, net		$	6,213
Other current assets			912
Property and equipment			3,932
Intangible assets subject to amortization
Trade name (useful life of 5 years)			1,000
Student relationships (useful life of 3 years)			8,000
Course curriculum (useful life of 3 years)			1,400
Goodwill			31,421
Other non-current assets			270
Total assets acquired		$	53,148
Liabilities:
Accounts payable and other accrued liabilities		$	2,582
Deferred revenue			4,749
Loan discharge reserve			1,900
Other long-term liabilities			46
Total liabilities assumed		$	9,277
Net assets acquired		$	43,871

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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