Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2020

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source

The following tables disaggregate our revenue by major source for the quarters and years to date ended September 30, 2020 and 2019 (dollars in thousands):

	For the Quarter Ended September 30, 2020								For the Quarter Ended September 30, 2019
	CTU		AIU ⁽³⁾		Corporate and Other⁽⁴⁾		Total		CTU		AIU		Corporate and Other⁽⁴⁾		Total
Tuition	$	93,071	$	67,394	$	-	$	160,465	$	90,256	$	56,383	$	-	$	146,639
Technology fees		5,085		2,439		-		7,524		4,789		2,360		-		7,149
Other miscellaneous fees⁽¹⁾		290		192		-		482		384		119		-		503
Total tuition and fees		98,446		70,025		-		168,471		95,429		58,862		-		154,291
Other revenue⁽²⁾		539		23		93		655		609		45		14		668
Total revenue	$	98,985	$	70,048	$	93	$	169,126	$	96,038	$	58,907	$	14	$	154,959


	For the Year to Date Ended September 30, 2020								For the Year to Date Ended September 30, 2019
	CTU		AIU ⁽³⁾		Corporate and Other⁽⁴⁾		Total		CTU		AIU		Corporate and Other⁽⁴⁾		Total
Tuition	$	284,826	$	204,943	$	-	$	489,769	$	273,777	$	171,954	$	-	$	445,731
Technology fees		15,367		7,729		-		23,096		12,828		7,129		-		19,957
Other miscellaneous fees⁽¹⁾		985		514		-		1,499		1,271		339		-		1,610
Total tuition and fees		301,178		213,186		-		514,364		287,876		179,422		-		467,298
Other revenue⁽²⁾		1,588		93		110		1,791		1,774		137		44		1,955
Total revenue	$	302,766	$	213,279	$	110	$	516,155	$	289,650	$	179,559	$	44	$	469,253

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(1)

Other miscellaneous fees include student activity fees and graduation fees.

(2)

Other revenue primarily includes contract training revenue and bookstore sales.

(3) AIU includes revenue related to the Trident acquisition commencing on the March 2, 2020 date of acquisition.

(4)

Revenue recorded within Corporate and Other relates to certain bookstore sales and closed campuses which are now reported within this category as well as revenue not related to campus operations.

Summary of Contract Assets Offset with Deferred Revenue Balances

The amount of contract assets which are being offset with deferred revenue balances as of September 30, 2020 and December 31, 2019 were as follows (dollars in thousands):

	As of
	September 30, 2020			December 31, 2019
Gross deferred revenue	$	55,056		$	63,204
Gross contract assets		(25,753	)		(38,557	)
Deferred revenue, net	$	29,303		$	24,647

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters and years to date ended September 30, 2020 and 2019 were as follows (dollars in thousands):

	For the Quarter Ended									For the Quarter Ended
	September 30, 2020									September 30, 2019
	CTU			AIU			Total			CTU			AIU			Total
Gross deferred revenue, July 1	$	28,092		$	39,725		$	67,817		$	25,825		$	19,976		$	45,801
Revenue earned from prior balances		(25,035	)		(31,236	)		(56,271	)		(23,375	)		(16,970	)		(40,345	)
Billings during period⁽¹⁾		99,219			57,598			156,817			96,863			47,310			144,173
Revenue earned for new billings during the period		(73,411	)		(38,789	)		(112,200	)		(72,054	)		(41,892	)		(113,946	)
Other adjustments		(777	)		(330	)		(1,107	)		(146	)		74			(72	)
Gross deferred revenue, September 30	$	28,088		$	26,968		$	55,056		$	27,113		$	8,498		$	35,611


	For the Year to Date Ended									For the Year to Date Ended
	September 30, 2020									September 30, 2019
	CTU			AIU			Total			CTU			AIU			Total
Gross deferred revenue, January 1	$	27,845		$	35,359		$	63,204		$	24,250		$	27,444		$	51,694
Business acquisition, beginning balance		-			13,395			13,395			-		-				-
Revenue earned from prior balances		(24,376	)		(38,904	)		(63,280	)		(22,289	)		(21,779	)		(44,068	)
Billings during period⁽¹⁾		301,727			190,589			492,316			289,803			159,711			449,514
Revenue earned for new billings during the period		(276,802	)		(174,282	)		(451,084	)		(265,587	)		(157,643	)		(423,230	)
Other adjustments		(306	)		811			505			936			765			1,701
Gross deferred revenue, September 30	$	28,088		$	26,968		$	55,056		$	27,113		$	8,498		$	35,611

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Billings during period includes adjustments for prior billings.