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Segment Information
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
The Company has two operating segments that are managed in the following reportable segments:

•American Public Education Segment, or APEI Segment; and
•Hondros College of Nursing Segment, or HCN Segment.
 
In accordance with FASB ASC 280, Segment Reporting, the chief operating decision-maker has been identified as the Company’s Chief Executive Officer. The Company’s Chief Executive Officer reviews operating results to make decisions about allocating resources and assessing performance for the APEI and HCN Segments.
 
A summary of financial information by reportable segment is as follows (in thousands):

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,

2019
 
2018
 
2019
 
2018
 
(Unaudited)
 
(Unaudited)
Revenue:
 
 
 
 
 
 
 
American Public Education Segment
$
63,448

 
$
63,692

 
$
129,169

 
$
129,360

Hondros College of Nursing Segment
7,141

 
9,106

 
14,888

 
18,405

Intersegment elimination
(29
)
 
—

 
(56
)
 
—

Total Revenue
$
70,560

 
$
72,798

 
$
144,001

 
$
147,765

Depreciation and amortization:
 
 
 
 
 
 
 
American Public Education Segment
$
3,688

 
$
3,988

 
$
7,470

 
$
8,156

Hondros College of Nursing Segment
255

 
359

 
524

 
713

Total Depreciation and amortization
$
3,943

 
$
4,347

 
$
7,994

 
$
8,869

Income (loss) from operations before interest income and income taxes:
 
 
 
 
 
 
 
American Public Education Segment
$
6,589

 
$
7,169

 
$
14,111

 
$
12,299

Hondros College of Nursing Segment
(910
)
 
879

 
(7,056
)
 
1,911

 Intersegment elimination
(1
)
 
—

 
5

 
—

Total Income from operations before interest income and income taxes
$
5,678

 
$
8,048

 
$
7,060

 
$
14,210

Interest income, net:
 
 
 
 
 
 
 
American Public Education Segment
$
1,123

 
$
645

 
$
2,170

 
$
1,130

Hondros College of Nursing Segment
12

 
16

 
18

 
24

Total Interest income, net
$
1,135

 
$
661

 
$
2,188

 
$
1,154

Income tax expense (benefit):
 
 
 
 
 
 
 
American Public Education Segment
$
2,132

 
$
2,066

 
$
3,798

 
$
3,687

Hondros College of Nursing Segment
(234
)
 
214

 
(1,963
)
 
458

Total Income tax expense (benefit)
$
1,898

 
$
2,280

 
$
1,835

 
$
4,145

Capital expenditures:
 
 
 
 
 
 
 
American Public Education Segment
$
1,229

 
$
1,756

 
$
2,574

 
$
3,389

Hondros College of Nursing Segment
143

 
137

 
383

 
170

Total Capital expenditures
$
1,372

 
$
1,893

 
$
2,957

 
$
3,559



A summary of the Company’s consolidated assets by reportable segment is as follows (in thousands):

 
As of June 30, 2019
 
As of December 31, 2018
 
(Unaudited)
 
 
Assets:
 
 
 
American Public Education Segment
$
324,451

 
$
322,523

Hondros College of Nursing Segment
51,633

 
48,435

Total Assets
$
376,084

 
$
370,958