Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 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 and years to date ended June 30, 2020 and 2019 (dollars in thousands):

	For the Quarter Ended June 30, 2020								For the Quarter Ended June 30, 2019
	CTU		AIU ⁽³⁾		Corporate and Other⁽⁴⁾		Total		CTU		AIU		Corporate and Other⁽⁴⁾		Total
Tuition	$	94,204	$	73,004	$	-	$	167,208	$	90,903	$	57,341	$	-	$	148,244
Technology fees		5,162		2,633		-		7,795		4,590		2,391		-		6,981
Other miscellaneous fees⁽¹⁾		323		173		-		496		463		91		-		554
Total tuition and fees		99,689		75,810		-		175,499		95,956		59,823		-		155,779
Other revenue⁽²⁾		504		25		7		536		599		50		13		662
Total revenue	$	100,193	$	75,835	$	7	$	176,035	$	96,555	$	59,873	$	13	$	156,441


	For the Year to Date Ended June 30, 2020								For the Year to Date Ended June 30, 2019
	CTU		AIU ⁽³⁾		Corporate and Other⁽⁴⁾		Total		CTU		AIU		Corporate and Other⁽⁴⁾		Total
Tuition	$	191,755	$	137,549	$	-	$	329,304	$	183,521	$	115,571	$	-	$	299,092
Technology fees		10,282		5,290		-		15,572		8,039		4,769		-		12,808
Other miscellaneous fees⁽¹⁾		695		322		-		1,017		887		220		-		1,107
Total tuition and fees		202,732		143,161		-		345,893		192,447		120,560		-		313,007
Other revenue⁽²⁾		1,049		70		17		1,136		1,165		92		30		1,287
Total revenue	$	203,781	$	143,231	$	17	$	347,029	$	193,612	$	120,652	$	30	$	314,294

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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 June 30, 2020 and December 31, 2019 were as follows (dollars in thousands):

	As of
	June 30, 2020			December 31, 2019
Gross deferred revenue	$	67,817		$	63,204
Gross contract assets		(29,279	)		(38,557	)
Deferred revenue, net	$	38,538		$	24,647

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters and years to date ended June 30, 2020 and 2019 were as follows (dollars in thousands):

	For the Quarter Ended June 30, 2020									For the Quarter Ended June 30, 2019
	CTU			AIU			Total			CTU			AIU			Total
Gross deferred revenue, April 1	$	27,986		$	28,934		$	56,920		$	25,901		$	10,180		$	36,081
Revenue earned from prior balances		(25,238	)		(22,929	)		(48,167	)		(23,679	)		(8,860	)		(32,539	)
Billings during period⁽¹⁾		99,464			86,343			185,807			95,424			69,368			164,792
Revenue earned for new billings during the period		(74,451	)		(52,881	)		(127,332	)		(72,277	)		(50,963	)		(123,240	)
Other adjustments		331			258			589			456			251			707
Gross deferred revenue, June 30	$	28,092		$	39,725		$	67,817		$	25,825		$	19,976		$	45,801


	For the Year to Date Ended June 30, 2020									For the Year to Date Ended June 30, 2019
	CTU			AIU			Total			CTU			AIU			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		(24,367	)		(39,533	)		(63,900	)		(22,335	)		(21,785	)		(44,120	)
Billings during period⁽¹⁾		202,508			132,991			335,499			192,940			112,401			305,341
Revenue earned for new billings during the period		(178,365	)		(103,628	)		(281,993	)		(170,112	)		(98,775	)		(268,887	)
Other adjustments		471			1,141			1,612			1,082			691			1,773
Gross deferred revenue, June 30	$	28,092		$	39,725		$	67,817		$	25,825		$	19,976		$	45,801

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Billings during period includes adjustments for prior billings.