v3.24.2.u1

Receivables and Contract Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2024
Receivables And Contract Liabilities Disclosure [Abstract] |
Schedule Of Receivables | The following table presents the Company’s trade accounts receivable in each segment as of each of the dates indicated.
| June 30, 2024 |  | December 31, 2023
| (in thousands)
Degree Program Segment accounts receivable | $ | 16,912 |  |  | $ | 3,207 |
Degree Program Segment unbilled revenue | 26,372 |  |  | 72,525 |
Alternative Credential Segment accounts receivable | 34,092 |  |  | 47,455 |
Total | 77,376 |  |  | 123,187 |
Less: Provision for credit losses | (6,038) |  |  | (7,243) |
Trade accounts receivable, net | $ | 71,338 |  |  | $ | 115,944 |
The following table presents the components of the Company’s other receivables, net, as of each of the dates indicated.
| June 30, 2024 |  | December 31, 2023
| (in thousands)
Other receivables, amortized cost | $ | 48,642 |  |  | $ | 49,358 |
Less: Provision for credit losses | (9,476) |  |  | (8,558) |
Other receivables, net | $ | 39,166 |  |  | $ | 40,800 |
Other receivables, net, current | $ | 23,819 |  |  | $ | 28,293 |
Other receivables, net, non-current | $ | 15,347 |  |  | $ | 12,507 |
Schedule Of Accounts Receivable, Allowance For Credit Loss | The following table presents the change in provision for credit losses for trade accounts receivable on the Company’s condensed consolidated balance sheets for the period indicated.
| Provision for Credit Losses
| (in thousands)
Balance as of December 31, 2023 | $ | 7,243 |
Current period provision | 1,450 |
Amounts written off | (2,651) |
Foreign currency translation adjustments | (4) |
Balance as of June 30, 2024 | $ | 6,038 |
Schedule Of Other Receivable, Allowance For Credit Loss | The following table presents the change in provision for credit losses for other receivables on the Company’s condensed consolidated balance sheets for the period indicated.
| Provision for Credit Losses
| (in thousands)
Balance as of December 31, 2023 | $ | 8,558 |
Current period provision | 918 |
Balance as of June 30, 2024 | $ | 9,476 |
Schedule Of Other Receivable Credit Quality Indicators | The following tables present other receivables, at amortized cost including interest accretion, by credit quality indicator and year of origination, as of the dates indicated.
| June 30, 2024
| Year of Origination
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 & Prior |  | Total
| (in thousands)
Credit Quality Tier |  |  |  |  |  |  |  |  |  |  |
High | $ | 5,216 |  |  | $ | 5,966 |  |  | $ | 1,147 |  |  | $ | 366 |  |  | $ | 1,023 |  |  | $ | 13,718 |
Mid | 6,392 |  |  | 7,237 |  |  | 2,853 |  |  | 1,609 |  |  | 2,538 |  |  | 20,629 |
Low | 4,327 |  |  | 4,224 |  |  | 2,037 |  |  | 1,574 |  |  | 2,133 |  |  | 14,295 |
Total | $ | 15,935 |  |  | $ | 17,427 |  |  | $ | 6,037 |  |  | $ | 3,549 |  |  | $ | 5,694 |  |  | $ | 48,642 |
| December 31, 2023
| Year of Origination
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 & Prior |  | Total
| (in thousands)
Credit Quality Tier |  |  |  |  |  |  |  |  |  |  |
High | $ | 12,744 |  |  | $ | 1,229 |  |  | $ | 404 |  |  | $ | 311 |  |  | $ | 205 |  |  | $ | 14,893 |
Mid | 13,178 |  |  | 3,067 |  |  | 2,614 |  |  | 735 |  |  | 674 |  |  | 20,268 |
Low | 7,658 |  |  | 2,464 |  |  | 2,684 |  |  | 734 |  |  | 657 |  |  | 14,197 |
Total | $ | 33,580 |  |  | $ | 6,760 |  |  | $ | 5,702 |  |  | $ | 1,780 |  |  | $ | 1,536 |  |  | $ | 49,358 |
Schedule Of Contract Liabilities By Segment | The following table presents the Company’s contract liabilities in each segment as of each of the dates indicated.
| June 30, 2024 |  | December 31, 2023
| (in thousands)
Degree Program Segment deferred revenue | $ | 14,482 |  |  | $ | 1,735 |
Alternative Credential Segment deferred revenue | 69,299 |  |  | 80,214 |
Total contract liabilities | $ | 83,781 |  |  | $ | 81,949 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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