Discontinued Operations and Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2021

Discontinued Operations and Disposal Groups [Abstract]

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

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

For the three months ended June 30,	2021		2020
Revenues	$	232,114	$	513,372
Depreciation and amortization expense	—		(22,002)
Share-based compensation expense	(585)		(888)
Other direct costs	(171,469)		(350,822)
Loss on impairment of assets	(204)		(421,312)
Other non-operating expense	(4,389)		(10,020)
Gain (loss) on sale of discontinued operations before taxes, net	30,131		(11,440)
Pretax income (loss) of discontinued operations	85,598		(303,112)
Income tax benefit	1,063		3,043
Income (loss) from discontinued operations, net of tax	$	86,661	$	(300,069)

For the six months ended June 30,	2021		2020
Revenues	$	471,863	$	882,856
Depreciation and amortization expense	—		(46,513)
Share-based compensation expense	(827)		(1,333)
Other direct costs	(372,665)		(729,704)
Loss on impairment of assets	(1,268)		(421,312)
Other non-operating expense	(15,551)		(65,076)
Gain (loss) on sale of discontinued operations before taxes, net	13,293		(34,993)
Pretax income (loss) of discontinued operations	94,845		(416,075)
Income tax (expense) benefit	(8,602)		8,226
Income (loss) from discontinued operations, net of tax	$	86,243	$	(407,849)
Operating cash flows of discontinued operations	$	56,567	$	193,459
Investing cash flows of discontinued operations	$	(9,941)	$	(29,632)
Financing cash flows of discontinued operations	$	(18,059)	$	14,135

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

	June 30, 2021		December 31, 2020
Assets of Discontinued Operations
Cash and cash equivalents	$	105,217	$	270,164
Receivables, net	42,452		113,386
Property and equipment, net	43,082		259,471
Goodwill and Tradenames	822,440		1,202,496
Operating lease right-of-use assets, net	13,651		136,806
Other assets	95,240		183,742
Valuation allowance on held-for-sale disposal groups	—		(248,630)
Total assets held for sale	$	1,122,082	$	1,917,435

Liabilities of Discontinued Operations
Deferred revenue and student deposits	$	79,908	$	87,793
Operating leases, including current portion	19,645		151,413
Long-term debt, seller notes and finance leases, including current portion	—		171,451
Other liabilities	86,707		291,599
Total liabilities held for sale	$	186,260	$	702,256