Discontinued Operations

6 Months Ended

Jun. 30, 2019

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

13. DISCONTINUED OPERATIONS

As of June 30, 2019, the results of operations for campuses that have ceased operations prior to 2015 are presented within discontinued operations. Prior to January 1, 2015, our teach-out campuses met the criteria for discontinued operations upon completion of their teach-out as defined under FASB ASC Topic 205 – Presentation of Financial Statements. Commencing January 1, 2015, in accordance with the new guidance under ASC Topic 360, only campuses that meet the criteria of a strategic shift upon

disposal are classified within discontinued operations, among other criteria. Since the January 2015 effective date of the updated guidance within ASC Topic 360, we have not had any campuses that met the criteria to be considered a discontinued operation.  

Results of Discontinued Operations

The summary of unaudited results of operations for our discontinued operations for the quarters and years to date ended June 30, 2019 and 2018 were as follows (dollars in thousands):

	For the Quarter Ended June 30,						For the Year to Date Ended June 30,
	2019			2018			2019			2018
Total operating expenses	$	49		$	147		$	567		$	645
Loss before income tax	$	(49	)	$	(147	)	$	(567	)	$	(645	)
Benefit from income tax		(11	)		(34	)		(132	)		(150	)
Loss from discontinued operations, net of tax	$	(38	)	$	(113	)	$	(435	)	$	(495	)

Assets and Liabilities of Discontinued Operations

Assets and liabilities of discontinued operations on our condensed consolidated balance sheets as of June 30, 2019 and December 31, 2018 include the following (dollars in thousands):

	June 30,		December 31,
	2019		2018
Assets:
Current assets:
Receivables, net	$	120	$	-
Total current assets		120		-
Non-current assets:
Deferred income tax assets, net		178		178
Total assets of discontinued operations	$	298	$	178
Liabilities:
Current liabilities:
Accounts payable and accrued expenses	$	3	$	51
Remaining lease obligations		-		485
Total current liabilities		3		536
Total liabilities of discontinued operations	$	3	$	536