Exhibit 99.3
ADTALEM GLOBAL EDUCATION INC.
SCHEDULE OF NON-GAAP SEGMENT OPERATING INCOME
(unaudited and amounts in thousands)
|
|
Three Months Ended |
|
Year Ended |
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|
|
September 30, |
|
December 31, |
|
March 31, |
|
June 30, |
|
June 30, |
|
June 30, |
||||||
|
|
2018 |
|
2018 |
|
2019 |
|
2019 |
|
2019 |
|
2018 |
||||||
Medical and Healthcare: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
1,656 |
|
$ |
60,647 |
|
$ |
53,093 |
|
$ |
39,726 |
|
$ |
155,122 |
|
$ |
189,672 |
Restructure Expense (Gain) |
|
|
39,015 |
|
|
2,445 |
|
|
(133) |
|
|
339 |
|
|
41,666 |
|
|
803 |
Settlement Gains |
|
|
— |
|
|
(15,571) |
|
|
— |
|
|
— |
|
|
(15,571) |
|
|
— |
Operating Income Excluding Special Items |
|
$ |
40,671 |
|
$ |
47,521 |
|
$ |
52,960 |
|
$ |
40,065 |
|
$ |
181,217 |
|
$ |
190,475 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Services: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Income |
|
$ |
4,750 |
|
$ |
9,633 |
|
$ |
5,086 |
|
$ |
14,694 |
|
$ |
34,163 |
|
$ |
27,695 |
Restructure Expense |
|
|
— |
|
|
— |
|
|
— |
|
|
1,304 |
|
|
1,304 |
|
|
357 |
Operating Income Excluding Special Items |
|
$ |
4,750 |
|
$ |
9,633 |
|
$ |
5,086 |
|
$ |
15,998 |
|
$ |
35,467 |
|
$ |
28,052 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Home Office and Other: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previously Reported Operating Income (Loss) |
|
$ |
(6,169) |
|
$ |
(8,452) |
|
$ |
(9,312) |
|
$ |
3,176 |
|
$ |
(20,757) |
|
$ |
(39,322) |
Stranded Costs Allocated to Continuing Operations |
|
|
(3,469) |
|
|
(3,159) |
|
|
(3,288) |
|
|
(2,782) |
|
|
(12,698) |
|
|
(10,883) |
Adjusted Reported Operating Income (Loss) |
|
|
(9,638) |
|
|
(11,611) |
|
|
(12,600) |
|
|
394 |
|
|
(33,455) |
|
|
(50,205) |
Restructure Expense |
|
|
458 |
|
|
1,090 |
|
|
2,319 |
|
|
6,230 |
|
|
10,097 |
|
|
2,691 |
Settlement Gains |
|
|
— |
|
|
— |
|
|
— |
|
|
(10,607) |
|
|
(10,607) |
|
|
— |
Operating Loss Excluding Special Items |
|
$ |
(9,180) |
|
$ |
(10,521) |
|
$ |
(10,281) |
|
$ |
(3,983) |
|
$ |
(33,965) |
|
$ |
(47,514) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adtalem Global Education: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Previously Reported Operating Income (Loss) |
|
$ |
(2,508) |
|
$ |
70,299 |
|
$ |
46,306 |
|
$ |
71,892 |
|
$ |
185,989 |
|
$ |
207,476 |
Adtalem Brazil Operating (Income) Loss Charged to Discontinued Operations |
|
|
2,745 |
|
|
(8,471) |
|
|
2,561 |
|
|
(14,296) |
|
|
(17,461) |
|
|
(29,431) |
Stranded Costs Allocated to Continuing Operations |
|
|
(3,469) |
|
|
(3,159) |
|
|
(3,288) |
|
|
(2,782) |
|
|
(12,698) |
|
|
(10,883) |
Adjusted Reported Operating Income (Loss) |
|
|
(3,232) |
|
|
58,669 |
|
|
45,579 |
|
|
54,814 |
|
|
155,830 |
|
|
167,162 |
Restructure Expense |
|
|
39,473 |
|
|
3,535 |
|
|
2,186 |
|
|
7,873 |
|
|
53,067 |
|
|
3,851 |
Settlement Gains |
|
|
— |
|
|
(15,571) |
|
|
— |
|
|
(10,607) |
|
|
(26,178) |
|
|
— |
Operating Income Excluding Special Items |
|
$ |
36,241 |
|
$ |
46,633 |
|
$ |
47,765 |
|
$ |
52,080 |
|
$ |
182,719 |
|
$ |
171,013 |