SEGMENT INFORMATION

9 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

SEGMENT INFORMATION

NOTE 13: 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 special charges, noncontrolling interest, income taxes and interest. Interest and certain home office related expenses are reconciling items in arriving at consolidated income before income taxes. 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 and Other assets. Additions to long-lived assets have been measured in this same manner. Reconciling items are included as Home Office and Other assets. The accounting policies of the segments are the same as those described in “Note 2: Summary of Significant Accounting Policies”.

Following is a tabulation of business segment information based on the segmentation for the three and nine months ended March 31, 2016 and 2015. Home Office and Other information is included where it is needed to reconcile segment data to the Consolidated Financial Statements (in thousands).

	For the Three Months				For the Nine Months
	Ended March 31,				Ended March 31,
	2016		2015		2016		2015
Revenue:
Medical and Healthcare	$	246,806	$	225,427	$	705,164	$	645,424
International and Professional Education		71,745		61,112		192,821		175,539
Business, Technology and Management		156,417		203,832		476,095		617,810
Intersegment Revenue and Other		(747)		(541)		(2,244)		(2,019)
Total Consolidated Revenue	$	474,221	$	489,830	$	1,371,836	$	1,436,754
Operating Income:
Medical and Healthcare	$	52,454	$	43,302	$	29,766	$	117,807
International and Professional Education		4,348		4,629		14,232		19,859
Business, Technology and Management		8,037		1,146		(21,574)		(9,155)
Home Office and Other		(3,992)		373		(9,709)		(5,448)
Total Consolidated Operating Income	$	60,847	$	49,450	$	12,715	$	123,063
Interest:
Interest Income	$	27	$	1,318	$	394	$	2,015
Interest Expense		(1,408)		(2,813)		(5,581)		(3,558)
Net Interest Expense		(1,381)		(1,495)		(5,187)		(1,543)
Total Consolidated Income Before Income Taxes	$	59,466	$	47,955	$	7,528	$	121,520
Segment Assets:
Medical and Healthcare	$	959,400	$	1,130,359	$	959,400	$	1,130,359
International and Professional Education		614,165		398,399		614,165		398,399
Business, Technology and Management		442,069		467,075		442,069		467,075
Home Office and Other		100,263		152,844		100,263		152,844
Total Consolidated Assets	$	2,115,897	$	2,148,677	$	2,115,897	$	2,148,677
Additions to Long-lived Assets:
Medical and Healthcare	$	3,484	$	14,366	$	21,965	$	44,642
International and Professional Education		5,777		122,926		194,926		145,137
Business, Technology and Management		2,259		965		8,788		4,154
Home Office and Other		2,080		4,196		9,667		7,419
Total Consolidated Additions to Long-lived Assets	$	13,600	$	142,453	$	235,346	$	201,352
Reconciliation to Consolidated Financial Statements:
Capital Expenditures	$	9,956	$	21,240	$	51,004	$	64,301
Increase in Capital Assets from Acquisitions		-		9,416		13,487		10,921
Increase in Intangible Assets and Goodwill		3,644		111,797		170,855		126,130
Total Increase in Consolidated Long-lived Assets	$	13,600	$	142,453	$	235,346	$	201,352
Depreciation Expense:
Medical and Healthcare	$	8,862	$	6,437	$	24,842	$	19,468
International and Professional Education		1,338		1,579		4,084		4,532
Business, Technology and Management		6,469		9,290		20,934		28,171
Home Office and Other		3,310		3,459		9,489		9,955
Total Consolidated Depreciation	$	19,979	$	20,765	$	59,349	$	62,126
Intangible Asset Amortization Expense:
Medical and Healthcare	$	65	$	162	$	190	$	485
International and Professional Education		1,347		1,080		3,772		2,050
Total Consolidated Amortization	$	1,412	$	1,242	$	3,962	$	2,535

Certain amounts reported for Segment Assets in fiscal year 2015 have been reclassified to conform to current year segment classification.

DeVry Group conducts its educational operations in the U.S., Dominica, St. Kitts, St. Maarten, Brazil, Canada, Europe, the Middle East and the Pacific Rim. Other international revenue, which is derived principally from Canada, Europe and the Pacific Rim, was less than 5% of total revenue for each of the three and nine month periods ended March 31, 2016 and 2015. Revenue and long-lived assets by geographic area are as follows (in thousands):

	For the Three Months				For the Nine Months
	Ended March 31,				Ended March 31,
	2016		2015		2016		2015
Revenue from Unaffiliated Customers:
Domestic Operations	$	336,927	$	365,677	$	982,656	$	1,067,034
International Operations:
Dominica, St. Kitts and St. Maarten		88,263		85,144		262,963		257,590
Brazil		48,063		37,503		121,405		106,930
Other		968		1,506		4,812		5,200
Total International		137,294		124,153		389,180		369,720
Total Consolidated Revenue	$	474,221	$	489,830	$	1,371,836	$	1,436,754
Long-lived Assets:
Domestic Operations	$	309,281	$	360,253	$	309,281	$	360,253
International Operations:
Dominica, St. Kitts and St. Maarten		183,146		182,975		183,146		182,975
Brazil		92,779		48,973		92,779		48,973
Other		27		2,148		27		2,148
Total International		275,952		234,096		275,952		234,096
Total Consolidated Long-lived Assets	$	585,233	$	594,349	$	585,233	$	594,349

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