DISCONTINUED OPERATIONS (Tables)

6 Months Ended

Jun. 30, 2013

Summary Results of Operations for Discontinued Operations

The summary of unaudited results of operations for our discontinued operations for the quarters and years to date ended June 30, 2013 and 2012 were as follows (dollars in thousands):

	For the Quarter Ended June 30,						For the Year to Date Ended June 30,
	2013			2012			2013			2012
Revenue	$	51		$	3,017		$	313		$	7,528
Loss before income tax	$	(2,425	)	$	(3,624	)	$	(4,297	)	$	(5,818	)
Income tax (benefit) provision (1)		(923	)		10,747			(1,610	)		(2,173	)
Loss from discontinued operations, net of tax	$	(1,502	)	$	(14,371	)	$	(2,687	)	$	(3,645	)

(1) Amount represents the difference between total consolidated income tax benefit, calculated by applying the estimated full-year consolidated effective tax rate to losses reported for the period, and the income tax benefit from continuing operations, calculated by applying the estimated full-year effective tax rate for continuing operations to pretax loss from continuing operations for the period.

Assets and Liabilities of Discontinued Operations on Consolidated Balance Sheets

Assets and liabilities of discontinued operations on our unaudited consolidated balance sheets as of June 30, 2013 and December 31, 2012 include the following (dollars in thousands):

	June 30, 2013		December 31, 2012
Assets:
Current assets:
Cash and cash equivalents	$	6	$	63
Receivables, net		202		571
Other current assets		50		247
Deferred income tax assets		3,447		3,447
Total current assets		3,705		4,328
Non-current assets:
Property and equipment, net		6		276
Deferred income tax assets		17,446		17,446
Other assets, net		1,320		1,604
Total assets of discontinued operations	$	22,477	$	23,654
Liabilities:
Current liabilities:
Accounts payable	$	65	$	32
Accrued expenses		443		710
Deferred tuition revenue		—		142
Remaining lease obligations		13,014		9,174
Total current liabilities		13,522		10,058
Non-current liabilities:
Remaining lease obligations		24,646		33,103
Other		198		223
Total liabilities of discontinued operations	$	38,366	$	43,384

Changes in Future Remaining Lease Obligations Discontinued Operations

Changes in our future remaining lease obligations, which are reflected within current and non-current liabilities of discontinued operations on our unaudited consolidated balance sheets, for the quarters and years to date ended June 30, 2013 and 2012, were as follows (dollars in thousands):

	Balance, Beginning of Period		Charges Incurred  (1)		Net Cash Payments			Other  (2)			Balance, End of Period
For the quarter ended June 30, 2013	$	39,948	$	1,148	$	(3,396	)	$	(40	)	$	37,660
For the quarter ended June 30, 2012	$	43,644	$	444	$	(2,876	)	$	—		$	41,212
For the year to date ended June 30, 2013	$	42,277	$	846	$	(5,412	)	$	(51	)	$	37,660
For the year to date ended June 30, 2012	$	45,961	$	739	$	(5,488	)	$	—		$	41,212

(1) Includes charges for newly vacated spaces and subsequent adjustments for accretion, revised estimates, and variances between estimated and actual charges, net of any reversals for terminated lease obligations.

(2) Includes existing prepaid rent and deferred rent liability balances for newly vacated spaces that are netted with the losses incurred in the period recorded.