Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source

The following tables disaggregate our revenue by major source for the quarters ended March 31, 2020 and 2019 (dollars in thousands):

	For the Quarter Ended March 31, 2020								For the Quarter Ended March 31, 2019
	CTU		AIU ⁽³⁾		Corporate and Other⁽⁴⁾		Total		CTU		AIU		Corporate and Other⁽⁴⁾		Total
Tuition	$	97,551	$	64,545	$	-	$	162,096	$	92,618	$	58,230	$	-	$	150,848
Technology fees		5,120		2,657		-		7,777		3,449		2,378		-		5,827
Other miscellaneous fees⁽¹⁾		372		149		-		521		424		129		-		553
Total tuition and fees		103,043		67,351		-		170,394		96,491		60,737		-		157,228
Other revenue⁽²⁾		545		45		10		600		566		42		17		625
Total revenue	$	103,588	$	67,396	$	10	$	170,994	$	97,057	$	60,779	$	17	$	157,853

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(1)

Other miscellaneous fees include student activity fees and graduation fees.

(2)

Other revenue primarily includes contract training revenue and bookstore sales.

(3) AIU includes revenue related to the Trident acquisition commencing on the March 2, 2020 date of acquisition.

(4)

Revenue recorded within Corporate and Other relates to certain bookstore sales and 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, 2020 and December 31, 2019 were as follows (dollars in thousands):

	As of
	March 31, 2020			December 31, 2019
Gross deferred revenue	$	56,920		$	63,204
Gross contract assets		(27,918	)		(38,557	)
Deferred revenue, net	$	29,002		$	24,647

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters ended March 31, 2020 and 2019 were as follows (dollars in thousands):

	For the Quarter Ended March 31, 2020											For the Quarter Ended March 31, 2019
	CTU			AIU			Corporate and Other		Total			CTU			AIU			Corporate and Other		Total
Gross deferred revenue, January 1,	$	27,845		$	35,359		$	-	$	63,204		$	24,250		$	27,444		$	-	$	51,694
Business acquisition, beginning balance		-			13,395			-		13,395			-			-			-		-
Revenue earned from prior balances		(25,149	)		(31,518	)		-		(56,667	)		(22,344	)		(21,661	)		-		(44,005	)
Billings during period⁽¹⁾		103,044			46,648			-		149,692			97,516			43,033			-		140,549
Revenue earned for new billings during the period		(77,894	)		(35,833	)		-		(113,727	)		(74,147	)		(39,076	)		-		(113,223	)
Other adjustments		140			883			-		1,023			626			440			-		1,066
Gross deferred revenue, March 31,	$	27,986		$	28,934		$	-	$	56,920		$	25,901		$	10,180		$	-	$	36,081

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(1)

Billings during period includes adjustments for prior billings.