EX-99.3 4 ex-99d3.htm EX-99.3 atge_Exhibit_99.3

Exhibit 99.3

ADTALEM GLOBAL EDUCATION INC.

SCHEDULE OF NON-GAAP SEGMENT OPERATING INCOME

(unaudited and amounts in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Year Ended

 

 

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