Business Acquisition (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed as of March 2, 2020 (dollars in thousands):

	March 2, 2020
Assets:
Student receivables, net	$	6,212
Other current assets		912
Property and equipment		3,932
Intangible assets subject to amortization
Trade name (useful life of 5 years)		1,000
Student relationships (useful life of 3 years)		8,000
Course curriculum (useful life of 3 years)		1,400
Goodwill		30,956
Deferred tax asset		454
Other non-current assets		270
Total assets acquired	$	53,136
Liabilities:
Accounts payable and other accrued liabilities	$	2,622
Deferred revenue		4,749
Loan discharge reserve		1,900
Other long-term liabilities		46
Total liabilities assumed	$	9,317
Net assets acquired	$	43,819