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Segment Reporting | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Segment Reporting | 14. SEGMENT REPORTING Our segments are determined in accordance with FASB ASC Topic 280—Segment Reporting and are based upon how the Company analyzes performance and makes decisions. Each segment is comprised of a postsecondary education institution that offers a variety of academic programs. These segments are organized by key market segments and to enhance brand focus within each segment to more effectively execute our strategic plan. As of September 3 0, 20 20, our two segments are:
| ♦ | Colorado Technical University’s (CTU) mission is to provide industry-relevant higher education to a diverse student population through innovative technology and experienced faculty, enabling the pursuit of personal and professional goals. CTU places a strong focus on providing degree programs to meet the needs of our non-traditional students for career advancement and of employers for a well-educated workforce. This university offers academic programs in the career-oriented disciplines of business studies, nursing, computer science, engineering, information systems and technology, cybersecurity, criminal justice and healthcare management. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of September 30, 2020, students enrolled at CTU represented approximately 56% of our total enrollments. Approximately 95% of CTU’s students are enrolled in programs offered fully online. In March 2020, CTU’s campus-based and blended-format students also began pursuing their education solely through CTU’s online platform as a result of the COVID-19 pandemic.
| ♦ | The American InterContinental University System’s (AIU; formerly referred to as American InterContinental University) mission is to provide for the varying educational needs of a career-oriented, culturally diverse and geographically dispersed student body with the goal of preparing students academically, personally and professionally. AIU focuses on helping busy non-traditional students get the degree they need to move forward in their career as efficiently as possible and offers academic programs in the career-oriented disciplines of business studies, information technologies, education and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. AIU now also includes results of operations and student enrollments related to the Trident acquisition commencing on the March 2, 2020 date of acquisition. As of September 30, 2020, students enrolled at AIU represented approximately 44% of our total enrollments. Approximately 97% of AIU’s students are enrolled in programs offered fully online. In March 2020, AIU’s campus-based and blended-format students also began pursuing their education solely through AIU’s online platform as a result of the COVID-19 pandemic.
Summary financial information by reporting segment is as follows (dollars in thousands):
|  | For the Quarter Ended September 30, |
|  | Revenue |  |  | Operating Income (Loss) |
|  | 2020 |  |  | % of Total |  |  | 2019 |  |  | % of Total |  |  | 2020 |  |  | 2019 |
CTU |  | $ | 98,985 |  |  |  | 58.5 | % |  | $ | 96,038 |  |  |  | 62.0 | % |  | $ | 32,993 |  |  | $ | 29,926 |
AIU (1) |  |  | 70,048 |  |  |  | 41.4 | % |  |  | 58,907 |  |  |  | 38.0 | % |  |  | 5,513 |  |  |  | 7,341 |
Total University Group |  |  | 169,033 |  |  |  | 99.9 | % |  |  | 154,945 |  |  |  | 100.0 | % |  |  | 38,506 |  |  |  | 37,267 |
Corporate and Other (2) |  |  | 93 |  |  | NM |  |  |  | 14 |  |  | NM |  |  |  | (6,432 | ) |  |  | (12,973 | )
Total |  | $ | 169,126 |  |  |  | 100.0 | % |  | $ | 154,959 |  |  |  | 100.0 | % |  | $ | 32,074 |  |  | $ | 24,294 |
|  | For the Year to Date Ended September 30, |
|  | Revenue |  |  | Operating Income (Loss) |
|  | 2020 |  |  | % of Total |  |  | 2019 |  |  | % of Total |  |  | 2020 |  |  | 2019 |
CTU (3) |  | $ | 302,766 |  |  |  | 58.7 | % |  | $ | 289,650 |  |  |  | 61.7 | % |  | $ | 100,688 |  |  | $ | 71,730 |
AIU (1) (4) |  |  | 213,279 |  |  |  | 41.3 | % |  |  | 179,559 |  |  |  | 38.3 | % |  |  | 25,365 |  |  |  | 11,436 |
Total University Group |  |  | 516,045 |  |  |  | 100.0 | % |  |  | 469,209 |  |  |  | 100.0 | % |  |  | 126,053 |  |  |  | 83,166 |
Corporate and Other (2) |  |  | 110 |  |  | NM |  |  |  | 44 |  |  |  | 0.0 | % |  |  | (19,308 | ) |  |  | (28,717 | )
Total |  | $ | 516,155 |  |  |  | 100.0 | % |  | $ | 469,253 |  |  |  | 100.0 | % |  | $ | 106,745 |  |  | $ | 54,449 |
|  | Total Assets as of (5) |
|  | September 30, 2020 |  |  | December 31, 2019 |
CTU |  | $ | 98,220 |  |  | $ | 100,414 |
AIU (1) |  |  | 136,213 |  |  |  | 104,747 |
Total University Group |  |  | 234,433 |  |  |  | 205,161 |
Corporate and Other (2) |  |  | 449,237 |  |  |  | 393,904 |
Discontinued Operations |  |  | 81 |  |  |  | 81 |
Total |  | $ | 683,751 |  |  | $ | 599,146 |
(1) | AIU results of operations and total assets include the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of September 3 0, 2020.
(2) | Corporate and Other includes results of operations and total assets for closed campuses. An expense of $7.1 million was recorded for closed campuses related to the Oregon arbitration matter for the quarter and year to date ended September 30, 2019.
(3) | An expense of $18.6 million was recorded within CTU related to the FTC settlement for the year to date ended September 30, 2019.
(4) | An expense of $11.4 million was recorded within AIU related to the FTC settlement for the year to date ended September 30, 2019.
(5) | Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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