SEGMENT INFORMATION

12 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 15:  SEGMENT INFORMATION

DeVry Group’s principal business is providing postsecondary education. DeVry Group presents three reportable segments: “Medical and Healthcare”, which includes the operations of AUC, RUSM, RUSVM, Chamberlain and Carrington; “International and Professional Education”, which includes the operations of DeVry Brasil and Becker; and “Business, Technology and Management”, which is comprised solely of DeVry University.

These segments are consistent with the method by which the Chief Operating Decision Maker (DeVry Group’s President and CEO) evaluates performance and allocates resources. Performance evaluations are based, in part, on each segment’s operating income, which is defined as income before noncontrolling interest, income taxes, interest income and expense, and certain home office-related depreciation and expenses. Income taxes, interest income and expense, and certain home office-related depreciation and expenses are reconciling items in arriving at income before income taxes for each segment. As of the first quarter of fiscal year 2015, amortization expense is included in the operating income of each segment and is no longer a reconciling item in arriving at income before income taxes for each segment. Prior year information has been restated to reflect this change. This change was made to reflect how management now evaluates segment operating results. Intersegment sales are accounted for at amounts comparable to sales to nonaffiliated customers and are eliminated in consolidation. The consistent measure of segment assets excludes deferred income tax assets and certain depreciable home office assets. Additions to long-lived assets have been measured in this same manner. Reconciling items are included as home office assets. The accounting policies of the segments are the same as those described in “Note 3 — Summary of Significant Accounting Policies”.

Following is a tabulation of business segment information based on the segmentation for each of the years ended June 30, 2015, 2014 and 2013. Home office information is included where it is needed to reconcile segment data to the consolidated financial statements (dollars in thousands).

	For the Year Ended June 30,
	2015		2014		2013
Revenue:
Medical and Healthcare	$	859,477	$	769,126	$	672,604
International and Professional Education		258,839		228,057		196,576
Business, Technology and Management		794,162		929,948		1,096,695
Intersegment Revenue and Other		(2,535)		(3,760)		(1,500)
Total Consolidated Revenue	$	1,909,943	$	1,923,371	$	1,964,375
Operating Income:
Medical and Healthcare	$	146,503	$	136,035	$	48,685
International and Professional Education		36,796		42,744		46,531
Business, Technology and Management		(17,658)		10,777		90,045
Home Office and Other		(8,731)		(8,288)		(18,333)
Total Consolidated Operating Income	$	156,910	$	181,268	$	166,928
Interest Income (Expense):
Interest Income	$	2,063	$	1,731	$	1,652
Interest Expense		(5,313)		(3,632)		(3,611)
Net Interest Income (Expense)		(3,250)		(1,901)		(1,959)
Total Consolidated Income from Continuing
Operations Before Income Taxes	$	153,660	$	179,367	$	164,969
Segment Assets:
Medical and Healthcare	$	1,161,236	$	1,145,566	$	1,017,692
International and Professional Education		398,857		296,996		278,430
Business, Technology and Management		376,695		409,992		431,265
Home Office and Other		137,405		145,082		107,625
Assets of Divested Business		-		-		22,006
Total Consolidated Assets	$	2,074,193	$	1,997,636	$	1,857,018
Additions to Long-lived Assets:
Medical and Healthcare	$	60,029	$	51,023	$	46,893
International and Professional Education		139,474		39,862		41,311
Business, Technology and Management		4,944		12,791		42,993
Home Office and Other		9,704		6,064		13,171
Total Consolidated Additions to Long-lived Assets	$	214,151	$	109,740	$	144,368
Reconciliation to Consolidated Financial Statements
Capital Expenditures	$	88,707	$	79,355	$	111,775
Increase in Capital Assets from Acquisitions		10,921		2,257		2,897
Increase in Intangible Assets and Goodwill		114,523		28,128		29,696
Total Increase in Consolidated Long-lived Assets	$	214,151	$	109,740	$	144,368
Depreciation Expense:
Medical and Healthcare	$	27,304	$	24,831	$	25,706
International and Professional Education		6,164		3,900		4,260
Business, Technology and Management		37,267		43,713		43,714
Home Office and Other		14,273		10,295		9,431
Total Consolidated Depreciation	$	85,008	$	82,739	$	83,111
Intangible Asset Amortization Expense:
Medical and Healthcare	$	647	$	3,647	$	5,391
International and Professional Education		3,442		2,772		4,089
Total Consolidated Amortization	$	4,089	$	6,419	$	9,480

DeVry Group conducts its educational operations in the United States, the Caribbean Islands (countries of Dominica, St. Kitts and St. Maarten), Brazil, Canada, Europe, the Middle East and the Pacific Rim. Other International revenues, which are derived principally from Canada, Europe and the Pacific Rim, were less than 5% of total revenues for the years ended June 30, 2015, 2014 and 2013. Revenues and long-lived assets by geographic area are as follows (dollars in thousands):

	For the Year Ended June 30,
	2015		2014		2013
Revenue from Unaffiliated Customers:
Domestic Operations	$	1,401,301	$	1,457,430	$	1,548,975
International Operations:
Dominica, St. Kitts and St. Maarten		337,782		328,218		300,462
Brazil		159,231		125,511		98,531
Other		11,629		12,212		16,407
Total International		508,642		465,941		415,400
Consolidated	$	1,909,943	$	1,923,371	$	1,964,375
Long-lived Assets:
Domestic Operations	$	356,183	$	387,081	$	414,569
International Operations:
Dominica, St. Kitts and St. Maarten		186,258		169,542		161,826
Brazil		54,517		48,927		41,555
Other		118		184		182
Total International		240,893		218,653		203,563
Long-lived Assets of Business Held for Sale		-		-		5,787
Consolidated	$	597,076	$	605,734	$	623,919

No one customer accounted for more than 10% of DeVry Group's consolidated revenues.