Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2015

Summary of Assets and Liabilities of Assets Held for Sale on Balance Sheets

Assets and liabilities of assets held for sale on our condensed consolidated balance sheets as of June 30, 2015 and December 31, 2014 include the following (dollars in thousands):

	June 30, 2015			December 31, 2014 (1)
Assets:
Receivables, net	$	8,111		$	8,303
Property and equipment, net		42,808			42,521
Other intangible assets		18,400			18,400
Other assets		6,903			7,622
Valuation allowance (2)		(9,681	)		—
Total assets held for sale	$	66,541		$	76,846
Liabilities:
Accounts payable and accrued expenses	$	10,619		$	12,410
Deferred revenue		15,018			17,001
Remaining lease obligations		1,595			2,253
Other liabilities		17,767			18,693
Total liabilities held for sale	$	44,999		$	50,357

(1) Only assets and liabilities related to our LCB institutions were reported as held for sale as of December 31, 2014.

(2) During the second quarter of 2015, a valuation allowance was recorded against our LCB assets held for sale as a result of $9.7 million of impairment charges recorded.

Continuing Operation [Member]

Summary of Unaudited Results of Operations for Assets Held for Sale

The summary of unaudited results of operations for our assets held for sale for the quarters and years to date ended June 30, 2015 and 2014 were as follows (dollars in thousands):

Reported within loss from continuing operations for our Missouri College campus

	For the Quarter Ended June 30,						For the Year to Date Ended June 30,
	2015			2014			2015			2014
Revenue	$	1,876		$	1,864		$	3,735		$	3,811
Operating Expenses:
Educational services and facilities		1,099			1,060			2,134			2,193
General and administrative		1,905			1,741			3,587			3,403
Depreciation and amortization		79			170			158			343
Asset impairment		518			—			518			—
Total operating expenses		3,601			2,971			6,397			5,939
Operating loss	$	(1,725	)	$	(1,107	)	$	(2,662	)	$	(2,128	)

Discontinued Operations [Member]

Summary of Unaudited Results of Operations for Assets Held for Sale

Reported within loss from discontinued operations for our LCB campuses

	For the Quarter Ended June 30,						For the Year to Date Ended June 30,
	2015			2014			2015			2014
Revenue	$	42,048		$	42,566		$	86,760		$	84,813
Operating Expenses:
Educational services and facilities		19,115			19,965			39,058			39,305
General and administrative		23,806			30,663			48,331			67,348
Depreciation and amortization		—			4,310			1			8,578
Asset impairment		9,687			7,400			9,687			7,400
Total operating expenses		52,608			62,338			97,077			122,631
Operating loss	$	(10,560	)	$	(19,772	)	$	(10,317	)	$	(37,818	)