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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Summary Financial Information by Reporting Segment

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

 

 

 

Revenue

 

 

Operating Income (Loss)

 

 

Depreciation

and

Amortization

 

 

Capital Expenditures

 

 

Total Assets (1)

 

For the Year Ended December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CTU (2)

 

$

408,549

 

 

$

148,481

 

 

$

7,365

 

 

$

2,949

 

 

$

153,072

 

AIUS (3)

 

 

283,360

 

 

 

39,130

 

 

 

9,068

 

 

 

1,666

 

 

 

151,407

 

Corporate and Other (4)

 

 

1,125

 

 

 

(38,595

)

 

 

333

 

 

 

5,838

 

 

 

542,954

 

Total

 

$

693,034

 

 

$

149,016

 

 

$

16,766

 

 

$

10,453

 

 

$

847,433

 

For the Year Ended December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CTU

 

$

405,507

 

 

$

138,490

 

 

$

6,165

 

 

$

110

 

 

$

96,922

 

AIUS (3)

 

 

281,361

 

 

 

30,822

 

 

 

8,301

 

 

 

1,224

 

 

 

141,602

 

Corporate and Other (4)

 

 

446

 

 

 

(26,378

)

 

 

320

 

 

 

8,434

 

 

 

482,993

 

Total

 

$

687,314

 

 

$

142,934

 

 

$

14,786

 

 

$

9,768

 

 

$

721,517

 

For the Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CTU (5)

 

$

392,263

 

 

$

108,602

 

 

$

5,397

 

 

$

580

 

 

 

 

 

AIUS (6)

 

 

235,374

 

 

 

16,413

 

 

 

3,388

 

 

 

411

 

 

 

 

 

Corporate and Other (4) (7)

 

 

67

 

 

 

(38,553

)

 

 

360

 

 

 

4,183

 

 

 

 

 

Total

 

$

627,704

 

 

$

86,462

 

 

$

9,145

 

 

$

5,174

 

 

 

 

 

__________________

(1)     Total assets are presented on a consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.

(2)     CTU results of operations and total assets include the Hippo acquisition commencing on the September 10, 2021 date of acquisition and as of December 31, 2021.

(3)     AIUS results of operations and total assets include the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition and as of December 31, 2021 and the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of December 31, 2021 and 2020.

(4)     Corporate and Other includes results of operations and total assets for closed campuses. Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.

(5)     CTU results of operations include a $18.6 million charge related to the FTC settlement for the year ended December 31, 2019.

(6)     AIUS results of operations include a $11.4 million charge related to the FTC settlement for the year ended December 31, 2019.  

(7)    

Corporate and Other results of operations include a $7.1 million charge related to the Oregon arbitration matter for closed campuses for the year ended December 31, 2019.