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Segment and Geographic Information
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting and Geographic Information Segment and Geographic Information
Strategic Education is an educational services company that provides access to high-quality education through campus-based and online post-secondary education offerings, as well as through programs to develop job-ready skills for 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. The Company’s organizational structure includes three operating and reportable segments: U.S. Higher Education, Education Technology Services, and Australia/New Zealand.
The USHE segment provides flexible and affordable certificate and degree programs to working adults primarily through Strayer University and Capella University, including the Jack Welch Management Institute MBA, which is a unit of Strayer University. USHE also operates non-degree web and mobile application development courses through Hackbright Academy and Devmountain, which are units of Strayer University.
The Education Technology Services segment is primarily focused on developing and maintaining relationships with employers to build employee education benefits programs that provide employees with access to affordable and industry relevant training, certificate, and degree programs. The employer relationships developed by the Education Technology Services division are an important source of student enrollment for Strayer University and Capella University, and the majority of the revenue attributed to the Education Technology Services division is driven by the volume of enrollment derived from these employer relationships. Education Technology Services also supports employer partners through Workforce Edge, a platform which provides employers a full-service education benefits administration solution, and Sophia Learning, which enables education benefits programs through the use of low-cost online general education-level courses recommended by the American Council on Education for credit at other colleges and universities.
The Australia/New Zealand segment is comprised of Torrens University, Think Education and Media Design School in Australia and New Zealand, which collectively offer certificate and degree programs in business, design, education, hospitality, healthcare, and technology through campuses in Australia, New Zealand, and online.
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 for the years ended December 31, 2020, 2021, and 2022 is presented in the following table (in thousands):
 202020212022
Revenues   
U.S. Higher Education$966,579 $829,270 $770,979 
Australia/New Zealand23,381 250,124 230,747 
Education Technology Services37,693 52,292 63,754 
Consolidated revenues$1,027,653 $1,131,686 $1,065,480 
Income (loss) from operations
U.S. Higher Education$193,393 $104,914 $38,605 
Australia/New Zealand(13,275)35,855 30,473 
Education Technology Services19,643 21,311 19,264 
Amortization of intangible assets(64,225)(51,495)(14,350)
Merger and integration costs(13,770)(11,201)(1,117)
Restructuring costs(12,382)(25,472)(2,115)
Consolidated income from operations$109,384 $73,912 $70,760 
The following table presents a schedule of significant non-cash items included in segment income (loss) from operations by reportable segment (in thousands):
 202020212022
Depreciation and amortization   
U.S. Higher Education$41,822 $38,178 $35,863 
Australia/New Zealand1,930 10,640 8,842 
Education Technology Services828 1,067 1,589 
Amortization of intangible assets64,225 51,495 14,350 
Restructuring costs349 2,036 2,480 
Consolidated depreciation and amortization$109,154 $103,416 $63,124 
Stock-Based compensation
U.S. Higher Education$14,452 $16,926 $19,572 
Australia/New Zealand46 1,359 1,073 
Education Technology Services112 567 1,147 
Restructuring costs— (703)— 
Consolidated stock-based compensation$14,610 $18,149 $21,792 
Geographic Information
The Company’s long-lived assets are comprised of Property and equipment, net and Right-of-use lease assets. The Company’s long-lived assets by geographic area as of December 31, 2021 and 2022 were as follows (in thousands):
 December 31, 2021December 31, 2022
United States$156,389 $132,179 
International143,787 125,914