XML 57 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
REVENUE:        
Tuition $ 444,715us-gaap_SalesRevenueServicesNet $ 455,422us-gaap_SalesRevenueServicesNet $ 1,320,197us-gaap_SalesRevenueServicesNet $ 1,332,627us-gaap_SalesRevenueServicesNet
Other Educational 45,115us-gaap_OtherSalesRevenueNet 40,695us-gaap_OtherSalesRevenueNet 116,557us-gaap_OtherSalesRevenueNet 105,671us-gaap_OtherSalesRevenueNet
Total Revenue 489,830us-gaap_SalesRevenueNet 496,117us-gaap_SalesRevenueNet 1,436,754us-gaap_SalesRevenueNet 1,438,298us-gaap_SalesRevenueNet
OPERATING COST AND EXPENSE:        
Cost of Educational Services 253,186us-gaap_CostOfGoodsAndServicesSold 242,631us-gaap_CostOfGoodsAndServicesSold 750,326us-gaap_CostOfGoodsAndServicesSold 727,363us-gaap_CostOfGoodsAndServicesSold
Student Services and Administrative Expense 180,212us-gaap_SellingGeneralAndAdministrativeExpense 183,949us-gaap_SellingGeneralAndAdministrativeExpense 532,878us-gaap_SellingGeneralAndAdministrativeExpense 558,154us-gaap_SellingGeneralAndAdministrativeExpense
Gain on Sale of Asset 0us-gaap_GainsLossesOnSalesOfAssets 0us-gaap_GainsLossesOnSalesOfAssets 0us-gaap_GainsLossesOnSalesOfAssets (1,918)us-gaap_GainsLossesOnSalesOfAssets
Restructuring Expense 6,982us-gaap_RestructuringCharges 0us-gaap_RestructuringCharges 30,487us-gaap_RestructuringCharges 16,329us-gaap_RestructuringCharges
Total Operating Cost and Expense 440,380us-gaap_CostsAndExpenses 426,580us-gaap_CostsAndExpenses 1,313,691us-gaap_CostsAndExpenses 1,299,928us-gaap_CostsAndExpenses
Operating Income 49,450us-gaap_OperatingIncomeLoss 69,537us-gaap_OperatingIncomeLoss 123,063us-gaap_OperatingIncomeLoss 138,370us-gaap_OperatingIncomeLoss
INTEREST INCOME:        
Interest Income 1,318us-gaap_InvestmentIncomeInterest 605us-gaap_InvestmentIncomeInterest 2,015us-gaap_InvestmentIncomeInterest 1,498us-gaap_InvestmentIncomeInterest
Interest Expense (2,813)us-gaap_InterestExpenseDebt (1,073)us-gaap_InterestExpenseDebt (3,558)us-gaap_InterestExpenseDebt (3,125)us-gaap_InterestExpenseDebt
Net Interest (Expense) Income (1,495)us-gaap_OtherNonoperatingIncomeExpense (468)us-gaap_OtherNonoperatingIncomeExpense (1,543)us-gaap_OtherNonoperatingIncomeExpense (1,627)us-gaap_OtherNonoperatingIncomeExpense
Income from Continuing Operations Before Income Taxes 47,955us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 69,069us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 121,520us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 136,743us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income Tax Provision (6,327)us-gaap_IncomeTaxExpenseBenefit (12,918)us-gaap_IncomeTaxExpenseBenefit (16,653)us-gaap_IncomeTaxExpenseBenefit (23,113)us-gaap_IncomeTaxExpenseBenefit
Income from Continuing Operations 41,628us-gaap_IncomeLossFromContinuingOperations 56,151us-gaap_IncomeLossFromContinuingOperations 104,867us-gaap_IncomeLossFromContinuingOperations 113,630us-gaap_IncomeLossFromContinuingOperations
DISCONTINUED OPERATIONS:        
Income (Loss) from Operations of Divested Component 1,011us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax (934)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax 1,011us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax (18,645)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
Income Tax Benefit 4,565us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation 327us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation 4,565us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation 1,790us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation
Income (Loss) on Discontinued Operations 5,576us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (607)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 5,576us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (16,855)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
NET INCOME 47,204us-gaap_ProfitLoss 55,544us-gaap_ProfitLoss 110,443us-gaap_ProfitLoss 96,775us-gaap_ProfitLoss
Net Income Attributable to Noncontrolling Interest (84)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (19)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (470)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (227)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
NET INCOME ATTRIBUTABLE TO DEVRY EDUCATION GROUP 47,120us-gaap_NetIncomeLoss 55,525us-gaap_NetIncomeLoss 109,973us-gaap_NetIncomeLoss 96,548us-gaap_NetIncomeLoss
AMOUNTS ATTRIBUTABLE TO DEVRY EDUCATION GROUP:        
Income from Continuing Operations, Net of Income Taxes 41,544us-gaap_IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet 56,132us-gaap_IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet 104,397us-gaap_IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet 113,403us-gaap_IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
Income (Loss) from Discontinued Operations, Net of Income Taxes 5,576us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (607)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity 5,576us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity (16,855)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
NET INCOME ATTRIBUTABLE TO DEVRY EDUCATION GROUP $ 47,120us-gaap_NetIncomeLoss $ 55,525us-gaap_NetIncomeLoss $ 109,973us-gaap_NetIncomeLoss $ 96,548us-gaap_NetIncomeLoss
Basic:        
Continuing Operations $ 0.65us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 0.87us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.62us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.77us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
Discontinued Operations $ 0.08us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ (0.01)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ 0.08us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $ (0.26)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
Earnings Per Share, Basic $ 0.73us-gaap_EarningsPerShareBasic $ 0.86us-gaap_EarningsPerShareBasic $ 1.70us-gaap_EarningsPerShareBasic $ 1.51us-gaap_EarningsPerShareBasic
Diluted:        
Continuing Operations $ 0.64us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 0.87us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.6us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.75us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
Discontinued Operations $ 0.08us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ (0.01)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ 0.08us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $ (0.26)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Earnings Per Share, Diluted $ 0.72us-gaap_EarningsPerShareDiluted $ 0.86us-gaap_EarningsPerShareDiluted $ 1.68us-gaap_EarningsPerShareDiluted $ 1.49us-gaap_EarningsPerShareDiluted
Cash Dividends Declared per Common Share $ 0us-gaap_CommonStockDividendsPerShareDeclared $ 0us-gaap_CommonStockDividendsPerShareDeclared $ 0.18us-gaap_CommonStockDividendsPerShareDeclared $ 0.17us-gaap_CommonStockDividendsPerShareDeclared