Discontinued Operations and Assets Held for Sale (Tables)

9 Months Ended

Sep. 30, 2019

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, 2019		December 31, 2018
Assets of Discontinued Operations
Cash and cash equivalents	$	62,194	$	215,644
Receivables, net	42,277		62,576
Property and equipment, net	259,884		671,121
Goodwill	9,613		131,329
Tradenames	6,893		124,932
Operating lease right-of-use assets, net	66,673		—
Other assets	61,056		106,326
Subtotal: assets of Discontinued Operations	$	508,590	$	1,311,928
Other assets classified as held for sale: UniNorte Brazil
Receivables, net	$	6,969	$	6,983
Property and equipment, net	13,193		16,726
Goodwill	14,083		15,165
Tradenames	7,565		8,146
Operating lease right-of-use assets, net	15,244		—
Other assets	6,161		13,935
Other land and buildings classified as held for sale
Property and equipment, net	8,374		—
Subtotal: other assets classified as held for sale	$	71,589	$	60,955
Total assets held for sale	$	580,179	$	1,372,883

	September 30, 2019		December 31, 2018
Liabilities of Discontinued Operations
Deferred revenue and student deposits	$	53,885	$	115,969
Operating leases, including current portion	71,411		—
Long-term debt and finance leases, including current portion	56,054		279,612
Other liabilities	91,094		269,558
Subtotal: liabilities of Discontinued Operations	$	272,444	$	665,139
Other liabilities classified as held for sale: UniNorte Brazil
Deferred revenue and student deposits	$	1,768	$	469
Operating leases, including current portion	10,119		—
Long-term debt and finance leases, including current portion	2,250		5,370
Other liabilities	8,554		9,405
Subtotal: other liabilities classified as held for sale	$	22,691	$	15,244
Total liabilities held for sale	$	295,135	$	680,383

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

For the three months ended September 30,	2019			2018
Revenues	$	65,316		$	160,278
Depreciation and amortization	339			6,991
Share-based compensation expense	119			173
Loss on impairment of assets	25,000			—
Other direct costs	64,681			188,284
Operating loss	(24,823		)	(35,170		)
Other non-operating expense	(252		)	(5,674		)
Pretax loss of discontinued operations	(25,075		)	(40,844		)
Income tax (expense) benefit	(2,062		)	2,939
Loss from discontinued operations, net of tax	$	(27,137	)	$	(37,905	)
For the nine months ended September 30,	2019			2018
Revenues	$	446,002		$	673,975
Depreciation and amortization	1,176			28,776
Share-based compensation expense	387			920
Loss on impairment of assets	25,000			—
Other direct costs	343,317			561,528
Operating income	76,122			82,751
Other non-operating income (loss)	6,276			(18,794		)
Pretax income of discontinued operations	82,398			63,957
Income tax expense	(15,926		)	(40,406		)
Income from discontinued operations, net of tax	$	66,472		$	23,551
Operating cash flows of discontinued operations	$	45,237		$	155,367
Investing cash flows of discontinued operations	$	(16,007	)	$	(40,043	)
Financing cash flows of discontinued operations	$	(44,984	)	$	(17,306	)