SEGMENT INFORMATION

3 Months Ended

Sep. 30, 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 (under the DeVry Medical International reporting unit), 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 Chief Executive Officer) 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 months ended September 30, 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 Ended September 30,
	2016		2015
Revenue:
Medical and Healthcare	$	236,754	$	223,984
International and Professional Education		92,970		58,673
Business, Technology and Management		120,890		159,466
Intersegment Revenue and Other		(722)		(710)
Total Consolidated Revenue	$	449,892	$	441,413
Operating Income (Loss):
Medical and Healthcare	$	41,842	$	34,252
International and Professional Education		4,081		2,038
Business, Technology and Management		(7,985)		(25,249)
Home Office and Other		(4,831)		(2,794)
Total Consolidated Operating Income	$	33,107	$	8,247
Interest:
Interest Income	$	1,058	$	127
Interest Expense		(2,115)		(2,326)
Net Interest Expense		(1,057)		(2,199)
Total Consolidated Income Before Income Taxes	$	32,050	$	6,048
Segment Assets:
Medical and Healthcare	$	961,809	$	1,231,104
International and Professional Education		1,037,249		337,036
Business, Technology and Management		244,279		471,571
Home Office and Other		81,019		66,898
Total Consolidated Assets	$	2,324,356	$	2,106,609
Additions to Long-Lived Assets:
Medical and Healthcare	$	4,510	$	10,668
International and Professional Education		368,495		5,661
Business, Technology and Management		790		3,183
Home Office and Other		1,227		3,241
Total Consolidated Additions to Long-Lived Assets	$	375,022	$	22,753
Reconciliation to Consolidated Financial Statements:
Capital Expenditures	$	11,318	$	22,753
Increase in Capital Assets from Acquisitions		4,913		-
Increase in Intangible Assets and Goodwill		358,791		-
Total Increase in Consolidated Long-Lived Assets	$	375,022	$	22,753
Depreciation Expense:
Medical and Healthcare	$	7,669	$	7,934
International and Professional Education		2,108		1,434
Business, Technology and Management		4,763		7,309
Home Office and Other		2,936		3,000
Total Consolidated Depreciation	$	17,476	$	19,677
Intangible Asset Amortization Expense:
Medical and Healthcare	$	-	$	60
International and Professional Education		3,263		1,112
Total Consolidated Amortization	$	3,263	$	1,172

Home Office and Other Segment Assets in fiscal year 2016 have been revised to reflect the reclassification of deferred tax assets and liabilities related to adoption of ASU No. 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.”

DeVry Group conducts its educational operations in the U.S., Dominica, St. Kitts, St. Maarten, Brazil, Canada, Europe, the Middle East, India, China and the Pacific Rim. Other international revenue, which is derived principally from Europe and the Pacific Rim, was less than 5% of total revenue for each of the three month periods ended September 30, 2016 and 2015. Revenue and long-lived assets by geographic area are as follows (in thousands):

	For the Three Months Ended September 30,
	2016		2015
Revenue from Unaffiliated Customers:
Domestic Operations	$	302,046	$	323,998
International Operations:
Dominica, St. Kitts and St. Maarten		88,304		82,849
Brazil		58,240		33,252
Other		1,302		1,314
Total International		147,846		117,415
Total Consolidated Revenue	$	449,892	$	441,413
Long-Lived Assets:
Domestic Operations	$	284,961	$	347,188
International Operations:
Dominica, St. Kitts and St. Maarten		189,235		184,731
Brazil		110,772		49,322
Other		3,416		67
Total International		303,423		234,120
Total Consolidated Long-Lived Assets	$	588,384	$	581,308

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