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Segment Reporting

3 Months Ended

Mar. 31, 2020

14. SEGMENT REPORTING

Our segments are determined in accordance with FASB ASC Topic 280—Segment Reporting and are based upon how the Company analyzes performance and makes decisions. Each segment is comprised of a postsecondary education institution that offers a variety of academic programs. These segments are organized by key market segments and to enhance brand focus within each segment to more effectively execute our strategic plan. As of March 31, 2020, our two segments are:

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Colorado Technical University’s (CTU) mission is to provide industry relevant higher education to a diverse student population through innovative technology and experienced faculty, enabling the pursuit of personal and professional goals. CTU places a strong focus on providing degree programs to meet the needs of our non-traditional students for career

advancement and of employers for a well-educated workforce. This university offers academic programs in the career-oriented disciplines of business studies, nursing, computer science, engineering, information systems and technology, cybersecurity, criminal justice and healthcare management. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of March 31, 2020, students enrolled at CTU represented approximately 60% of our total enrollments. Approximately 94% of CTU’s enrollments are fully online.

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American InterContinental University’s (AIU) mission is to provide for the varying educational needs of a career-oriented, culturally diverse and geographically dispersed student body with the goal of preparing students academically, personally and professionally. AIU focuses on helping busy non-traditional students get the degree they need to move forward in their career as efficiently as possible and offers academic programs in the career-oriented disciplines of business studies, information technologies, education and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. AIU now also includes results of operations and student enrollments related to the Trident acquisition commencing on the March 2, 2020 date of acquisition. As of March 31, 2020, students enrolled at AIU represented approximately 40% of our total enrollments. Approximately 96% of AIU’s enrollments are fully online.

Summary financial information by reporting segment is as follows (dollars in thousands):

	For the Quarter Ended March 31,

	Revenue										Operating Income (Loss)
	2020		% of Total			2019		% of Total			2020			2019
CTU	$	103,588		60.6	%	$	97,057		61.5	%	$	34,619		$	29,691
AIU ⁽¹⁾		67,396		39.4	%		60,779		38.5	%		9,376			8,312
Total University Group		170,984		100.0	%		157,836		100.0	%		43,995			38,003
Corporate and Other ⁽²⁾		10	NM				17	NM				(6,692	)		(8,032	)
Total	$	170,994		100.0	%	$	157,853		100.0	%	$	37,303		$	29,971

	Total Assets as of⁽³⁾
	March 31, 2020		December 31, 2019
CTU	$	100,566	$	100,414
AIU ⁽¹⁾		144,983		104,747
Total University Group		245,549		205,161
Corporate and Other ⁽²⁾		360,896		393,904
Discontinued Operations		81		81
Total	$	606,526	$	599,146

(1)	AIU results of operations and total assets include the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of March 31, 2020.

(2)	Corporate and Other includes results of operations and total assets for closed campuses.

(3)	Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.