Year Ended June 30,

2024

2023

2022

Revenue:

Chamberlain

$

633,522

$

571,034

$

557,536

Walden

595,332

533,725

485,393

Medical and Veterinary

355,798

346,067

338,913

Total consolidated revenue

$

1,584,652

$

1,450,826

$

1,381,842

Adjusted operating income:

Chamberlain

$

137,800

$

135,503

$

127,252

Walden

130,547

110,364

104,582

Medical and Veterinary

71,507

67,336

69,148

Home Office

(31,076)

(25,633)

(33,380)

Total consolidated adjusted operating income

308,778

287,570

267,602

Reconciliation to Consolidated Financial Statements:

Deferred revenue adjustment

—

(8,561)

CEO transition costs

—

(6,195)

Restructuring expense

(1,870)

(18,817)

(25,628)

Business acquisition and integration expense

(34,215)

(42,661)

(53,198)

Amortization of acquired intangible assets:

(35,644)

(61,239)

(97,274)

Litigation reserve

(18,500)

(10,000)

—

Loss on assets held for sale

(647)

—

Debt modification costs

(848)

—

Gain on sale of assets

—

13,317

—

Total consolidated operating income

217,054

168,170

76,746

Interest expense

(63,659)

(63,100)

(129,348)

Other income, net

10,542

6,965

1,108

Total consolidated income (loss) from continuing operations before income taxes

$

163,937

$

112,035

$

(51,494)

Capital expenditures:

Chamberlain

$

26,293

$

13,934

$

15,235

Walden

5,889

1,084

5,393

Medical and Veterinary

5,708

3,358

3,277

Home Office

11,003

7,638

7,149

Total consolidated capital expenditures

$

48,893

$

26,014

$

31,054

Depreciation:

Chamberlain

$

18,752

$

17,175

$

18,547

Walden

7,389

9,419

9,255

Medical and Veterinary

11,983

12,438

13,890

Home Office

1,552

2,344

2,882

Total consolidated depreciation

$

39,676

$

41,376

$

44,574

Amortization of acquired intangible assets:

Walden

$

35,644

$

61,239

$

97,274

Total consolidated amortization of acquired intangible assets

$

35,644

$

61,239

$

97,274