XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Segment Reporting | 9 Months Ended
--- | ---
Sep. 30, 2018
Segment Reporting |
Segment Reporting | 14. Segment Reporting Strategic Education is an educational services company that provides access to high-quality education through campus-based and online post-secondary degree programs and job-ready skills offerings in high-demand markets. Strategic Education’s portfolio of companies is dedicated to closing the skills gap by placing adults on the most direct path between learning and employment. Two of the Company’s operating segments that meet the quantitative thresholds to qualify as reportable segments are the Strayer and Capella segments. The Strayer segment includes Strayer University and the Jack Welch Management Institute; the Capella segment consists of Capella University. None of the Company’s other operating segments individually meet the quantitative thresholds to qualify as reportable segments; therefore, these other operating segments are combined and presented below as Non-Degree Programs. The Non-Degree Programs reportable segment is comprised of the DevMountain, LLC (“DevMountain”), Hackbright Academy, Inc. (“Hackbright”), NYCDA, and Sophia Learning, LLC businesses. Revenue and operating expenses are generally directly attributable to the segments. Inter-segment revenues are not presented separately, as these amounts are immaterial. The Company’s Chief Operating Decision Maker does not evaluate operating segments using asset information. A summary of financial information by reportable segment (in thousands) for the three and nine months ended September 30, 2017 and 2018 is presented in the following table.
|  | For the three months ended |  | For the nine months ended
|  | September 30, |  | September 30,
|  | 2017 |  | 2018 |  | 2017 |  | 2018
Revenues |  |  |  |  |  |  |  |  |  |  |  |
Strayer |  | $ | 107,321 |  | $ | 114,471 |  | $ | 332,094 |  | $ | 343,644
Capella |  |  | — |  |  | 43,792 |  |  | — |  |  | 43,792
Non-Degree Programs |  |  | 1,191 |  |  | 2,682 |  |  | 4,050 |  |  | 4,646
Consolidated Revenues |  | $ | 108,512 |  | $ | 160,945 |  | $ | 336,144 |  | $ | 392,082
Income (loss) from operations |  |  |  |  |  |  |  |  |  |  |  |
Strayer |  | $ | 8,069 |  | $ | 11,904 |  | $ | 43,072 |  | $ | 44,215
Capella |  |  | — |  |  | (14,326) |  |  | — |  |  | (14,326)
Non-Degree Programs |  |  | (1,949) |  |  | (1,688) |  |  | (6,649) |  |  | (4,131)
Amortization of intangible assets |  |  | — |  |  | (10,278) |  |  | — |  |  | (10,278)
Merger costs |  |  | (3,414) |  |  | (29,620) |  |  | (3,414) |  |  | (37,791)
Fair value adjustments and impairment of intangible assets |  |  | 5,518 |  |  | (13,119) |  |  | 7,512 |  |  | (19,304)
Consolidated income (loss) from operations |  | $ | 8,224 |  | $ | (57,127) |  | $ | 40,521 |  | $ | (41,615)

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration