Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2021

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source

	For the Quarter Ended September 30, 2021								For the Quarter Ended September 30, 2020
	CTU ⁽⁴⁾		AIU ⁽⁵⁾		Corporate and Other⁽⁶⁾		Total		CTU		AIU		Corporate and Other⁽⁶⁾		Total
Tuition ⁽¹⁾	$	98,730	$	65,101	$	-	$	163,831	$	93,071	$	67,394	$	-	$	160,465
Technology fees		5,339		2,962		-		8,301		5,085		2,439		-		7,524
Other miscellaneous fees ⁽²⁾		278		185		-		463		290		192		-		482
Total tuition and fees		104,347		68,248		-		172,595		98,446		70,025		-		168,471
Other revenue ⁽³⁾		441		700		262		1,403		539		23		93		655
Total revenue	$	104,788	$	68,948	$	262	$	173,998	$	98,985	$	70,048	$	93	$	169,126

	For the Year to Date Ended September 30, 2021								For the Year to Date Ended September 30, 2020
	CTU ⁽⁴⁾		AIU ⁽⁵⁾		Corporate and Other⁽⁶⁾		Total		CTU		AIU		Corporate and Other⁽⁶⁾		Total
Tuition	$	294,058	$	209,722	$	-	$	503,780	$	284,826	$	204,943	$	-	$	489,769
Technology fees		16,352		8,630		-		24,982		15,367		7,729		-		23,096
Other miscellaneous fees ⁽²⁾		959		509		-		1,468		985		514		-		1,499
Total tuition and fees		311,369		218,861		-		530,230		301,178		213,186		-		514,364
Other revenue ⁽³⁾		1,276		787		882		2,945		1,588		93		110		1,791
Total revenue	$	312,645	$	219,648	$	882	$	533,175	$	302,766	$	213,279	$	110	$	516,155

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(1)

Tuition includes revenue earned for degree-granting programs as well as revenue earned for non-degree professional development and continuing education offerings related to the DigitalCrafts and Hippo acquisitions from the date of acquisitions.

(2)

Other miscellaneous fees include student activity fees and graduation fees.

(3)

Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.

(4)

CTU includes revenue related to the Hippo acquisition commencing on the September 10, 2021 date of acquisition.

(5)

AIU includes revenue related to the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition.

(6)

Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.

Summary of Deferred Revenue Balances Offset with Contract Assets

The amount of deferred revenue balances which are being offset with contract assets balances as of September 30, 2021 and December 31, 2020 were as follows (dollars in thousands):

	As of
	September 30, 2021			December 31, 2020
Gross deferred revenue	$	92,087		$	85,402
Gross contract assets		(35,036	)		(50,868	)
Deferred revenue, net	$	57,051		$	34,534

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the quarters and years to date ended September 30, 2021 and 2020 were as follows (dollars in thousands):

	For the Quarter Ended September 30, 2021									For the Quarter Ended September 30, 2020
	CTU			AIU			Total			CTU			AIU			Total
Gross deferred revenue, July 1	$	77,818		$	43,649		$	121,467		$	28,092		$	39,725		$	67,817
Business acquisitions, beginning balance		3,952			1,404			5,356			-			-			-
Revenue earned from prior balances		(66,878	)		(32,623	)		(99,501	)		(25,035	)		(31,236	)		(56,271	)
Billings during period⁽¹⁾		90,662			46,547			137,209			99,219			57,598			156,817
Revenue earned for new billings during the period		(37,469	)		(35,625	)		(73,094	)		(73,411	)		(38,789	)		(112,200	)
Other adjustments		951			(301	)		650			(777	)		(330	)		(1,107	)
Gross deferred revenue, September 30	$	69,036		$	23,051		$	92,087		$	28,088		$	26,968		$	55,056

	For the Year to Date Ended September 30, 2021									For the Year to Date Ended September 30, 2020
	CTU			AIU			Total			CTU			AIU			Total
Gross deferred revenue, January 1	$	28,522		$	56,880		$	85,402		$	27,845		$	35,359		$	63,204
Business acquisitions, beginning balance		3,952			1,404			5,356			-			13,395			13,395
Revenue earned from prior balances		(26,183	)		(46,020	)		(72,203	)		(24,376	)		(38,904	)		(63,280	)
Billings during period⁽¹⁾		348,307			183,012			531,319			301,727			190,589			492,316
Revenue earned for new billings during the period		(285,186	)		(172,841	)		(458,027	)		(276,802	)		(174,282	)		(451,084	)
Other adjustments		(376	)		616			240			(306	)		811			505
Gross deferred revenue, September 30	$	69,036		$	23,051		$	92,087		$	28,088		$	26,968		$	55,056

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Billings during period includes adjustments for prior billings.