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Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting

Summary of financial information by reportable segment

A summary of financial information by reportable segment (in thousands) for the years ended December 31, 2016, 2017, and 2018 is presented in the following table:

		2016			2017			2018
Revenues
Strayer University		$	435,153		$	449,547		$	471,104
Capella University			—			—			154,918
Non-Degree Programs			5,935			5,304			8,163
Consolidated revenues		$	441,088		$	454,851		$	634,185
Income (loss) from operations
Strayer University		$	67,991		$	64,801		$	68,188
Capella University			—			—			6,340
Non-Degree Programs			(13,732)			(8,225)			(5,920)
Amortization of intangible assets			—			—			(25,694)
Merger costs			—			(11,879)			(45,745)
Fair value adjustments and impairment of intangible assets			3,213			7,512			(19,909)
Consolidated income (loss) from operations		$	57,472		$	52,209		$	(22,740)

The following table presents a schedule of significant non-cash items included in segment income (loss) from operations by reportable segment (in thousands):

		2016			2017			2018
Depreciation and amortization
Strayer University		$	17,380		$	18,268		$	19,997
Capella University			—			—			7,382
Non-Degree Programs			437			465			741
Amortization of intangible assets			—			—			25,694
Merger costs			—			—			729
Consolidated depreciation and amortization		$	17,817		$	18,733		$	54,543
Stock-Based compensation
Strayer University		$	10,767		$	11,627		$	11,602
Capella University			—			—			1,495
Non-Degree Programs			—			—			193
Merger costs			—			—			2,242
Consolidated stock-based compensation		$	10,767		$	11,627		$	15,532

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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