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Segment Reporting | 9 Months Ended
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Sep. 30, 2022
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 an accredited postsecondary education institution that offers a variety of academic programs. As of September 30, 2022, our two segments are: ♦ Colorado Technical University (CTU) is committed to providing quality and industry-relevant higher education to a diverse student population through innovative technology and experienced faculty, enabling the pursuit of personal and professional goals. CTU is focused on serving adult, non-traditional students seeking career advancement, as well as addressing employer’s needs for a well-educated workforce. CTU offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of September 30, 2022, students enrolled at CTU represented approximately 64% of our total enrollments. Approximately 97% of CTU’s students are enrolled in programs offered fully online. Students at CTU’s ground-based campuses take both in-person and virtual classes. ♦ The American InterContinental University System (AIUS or AIU System) is committed to providing quality and accessible higher education opportunities for a diverse student population, including adult and other non-traditional learners and the military community. AIUS places emphasis on the educational, professional and personal growth of each student. AIUS offers academic programs in the career-oriented disciplines of business studies, information technologies, education, health sciences and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of September 30, 2022, students enrolled at AIUS represented approximately 36% of our total enrollments. Approximately 97% of AIUS’ students are enrolled in programs offered fully online. Students at AIUS’ ground-based campus take both in-person and virtual classes. Summary financial information by reporting segment is as follows (dollars in thousands):
|  | For the Quarter Ended September 30, |
|  | Revenue |  |  | Operating Income (Loss) |
|  | 2022 |  |  | % of Total |  |  | 2021 |  |  | % of Total |  |  | 2022 |  |  | 2021 |
CTU (1) |  | $ | 97,562 |  |  |  | 57.9 | % |  | $ | 104,788 |  |  |  | 60.2 | % |  | $ | 31,506 |  |  | $ | 41,217 |
AIUS (2) |  |  | 70,582 |  |  |  | 41.9 | % |  |  | 68,948 |  |  |  | 39.6 | % |  |  | 9,590 |  |  |  | 8,334 |
Corporate and Other (3) |  |  | 276 |  |  |  | 0.2 | % |  |  | 262 |  |  |  | 0.2 | % |  |  | (11,772 | ) |  |  | (11,690 | )
Total |  | $ | 168,420 |  |  |  | 100.0 | % |  | $ | 173,998 |  |  |  | 100.0 | % |  | $ | 29,324 |  |  | $ | 37,861 |
|  | For the Year to Date Ended September 30, |
|  | Revenue |  |  | Operating Income (Loss) |
|  | 2022 |  |  | % of Total |  |  | 2021 |  |  | % of Total |  |  | 2022 |  |  | 2021 |
CTU (1) |  | $ | 311,171 |  |  |  | 59.9 | % |  | $ | 312,645 |  |  |  | 58.6 | % |  | $ | 107,540 |  |  | $ | 112,758 |
AIUS (2) |  |  | 207,034 |  |  |  | 39.9 | % |  |  | 219,648 |  |  |  | 41.2 | % |  |  | 29,846 |  |  |  | 28,875 |
Corporate and Other (3) |  |  | 858 |  |  |  | 0.2 | % |  |  | 882 |  |  |  | 0.2 | % |  |  | (30,423 | ) |  |  | (27,193 | )
Total |  | $ | 519,063 |  |  |  | 100.0 | % |  | $ | 533,175 |  |  |  | 100.0 | % |  | $ | 106,963 |  |  | $ | 114,440 |
|  | Total Assets as of (4) |
|  | September 30, 2022 |  |  | December 31, 2021 |
CTU |  | $ | 159,627 |  |  | $ | 153,072 |
AIUS |  |  | 185,727 |  |  |  | 151,407 |
Corporate and Other (3) |  |  | 553,849 |  |  |  | 542,954 |
Total |  | $ | 899,203 |  |  | $ | 847,433 |
(1) CTU results of operations include the Hippo acquisition commencing on the September 10, 2021 date of acquisition. (2) AIUS results of operations include the CalSouthern acquisition commencing on the July 1, 2022 date of acquisition and the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition. (3) Corporate and Other includes results of operations and total assets for closed campuses. Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue. (4) 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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