Discontinued Operations and Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Summary of major classes of assets and liabilities reclassified to held for sale

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are presented in the following tables:

	September 30, 2018		December 31, 2017
Assets of Discontinued Operations
Cash and cash equivalents	$	209,148	$	197,898
Receivables, net	85,298		83,045
Property and equipment, net	637,639		830,408
Goodwill	131,958		159,042
Tradenames	126,292		156,746
Other assets	97,829		122,201
Subtotal: assets of Discontinued Operations	$	1,288,164	$	1,549,340
Other assets classified as held for sale: UniNorte Brazil
Receivables, net	$	8,311	$	—
Property and equipment, net	15,254		—
Goodwill	21,665		—
Tradenames	7,664		—
Other assets	12,988		—
Subtotal: other assets classified as held for sale	$	65,882	$	—
Total assets held for sale	$	1,354,046	$	1,549,340

	September 30, 2018		December 31, 2017
Liabilities of Discontinued Operations
Deferred revenue and student deposits	$	211,086	$	223,163
Long-term debt, including current portion	275,024		319,473
Other liabilities	243,223		314,680
Subtotal: liabilities of Discontinued Operations	$	729,333	$	857,316
Other liabilities classified as held for sale: UniNorte Brazil
Deferred revenue and student deposits	$	1,598	$	—
Long-term debt, including current portion	4,973		—
Other liabilities	11,663		—
Subtotal: other liabilities classified as held for sale	$	18,234	$	—
Total liabilities held for sale	$	747,567	$	857,316

Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables:

For the nine months ended September 30,	2018			2017
Revenues	$	635,223		$	682,079
Depreciation and amortization	26,632			46,885
Share-based compensation expense	920			1,755
Other direct costs	526,706			560,028
Operating income	80,965			73,411
Other non-operating expense	(18,794		)	(14,239		)
Pretax income of discontinued operations	62,171			59,172
Income tax expense	(39,712		)	(15,125		)
Income from discontinued operations, net of tax	$	22,459		$	44,047
Operating cash flows of discontinued operations	$	148,251		$	153,707
Investing cash flows of discontinued operations	$	(38,876	)	$	(25,056	)
Financing cash flows of discontinued operations	$	(15,284	)	$	(34,909	)
For the three months ended September 30,	2018			2017
Revenues	$	151,430		$	164,793
Depreciation and amortization	6,321			15,994
Share-based compensation expense	173			679
Other direct costs	176,686			178,675
Operating loss	(31,750		)	(30,555		)
Other non-operating expense	(5,621		)	(4,425		)
Pretax loss of discontinued operations	(37,371		)	(34,980		)
Income tax benefit (expense)	2,905			(1,329		)
Loss from discontinued operations, net of tax	$	(34,466	)	$	(36,309	)