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Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2018

Summary of disaggregation of revenue

The following table presents the Company’s revenues from contracts with customers disaggregated by material revenue category for the years ended December 31, 2016, 2017, and 2018 (in thousands):

		2016			2017			2018
Strayer University Segment
Tuition, net of discounts, grants and scholarships		$	418,220		$	433,938		$	451,646
Other1			16,933			15,609			19,458
Total Strayer University Segment			435,153			449,547			471,104
Capella University Segment
Tuition, net of discounts, grants and scholarships			—			—			147,138
Other1			—			—			7,780
Total Capella University Segment			—			—			154,918
Non-Degree Programs Segment2			5,935			5,304			8,163
Consolidated revenue		$	441,088		$	454,851		$	634,185

(1) Other revenue is primarily comprised of academic fees, sales of textbooks, other course materials, and other revenue streams.

(2) Non-Degree Programs revenue is primarily comprised of tuition revenue and placement fee revenue.

Schedule of graduation fund liability

The table below presents activity in the Graduation Fund for the years ended December 31, 2017 and 2018 (in thousands):

		December 31, 2017				December 31, 2018
Balance at beginning of period		$	29,499			$	37,400
Revenue deferred			25,360				27,349
Benefit redeemed			(17,459)				(21,420)
Balance at end of period		$	37,400			$	43,329

Accounting Standards Update 2014-09

Summary of impact of ASU adoption

In accordance with ASC 606, the disclosure of the impact of adoption on the Company’s consolidated income statement and balance sheet as of and for the year ended December 31, 2018 was as follows (in thousands):

		For the Year Ended December 31, 2018
		As Reported			Balances without Adoption of ASC 606			Effect of Change Higher/(Lower)
Income Statement
Revenues		$	634,185		$	634,248		$	(63)
Instruction and educational support expense			340,076			340,083			(7)
Benefit for income taxes			(3,468)			(3,453)			(15)
Net loss			(15,671)			(15,630)			(41)
		As of December 31, 2018
		As Reported			Balances without Adoption of ASC 606			Effect of Change Higher/(Lower)
Balance Sheet
Tuition receivable – net		$	55,694		$	54,660		$	1,034
Other current assets			15,814			17,142			(1,328)
Income taxes payable			419			500			(81)
Retained earnings			118,322			118,535			(213)

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