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Discontinued Operations and Assets Held for Sale
 9 Months Ended
Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations and Assets Held for Sale Discontinued Operations and Assets Held for Sale
As discussed in Note 1, Description of Business, the Company’s remaining principal markets are Mexico and Peru (the Continuing Operations). All other markets have been divested (the Discontinued Operations). In the tables below, certain classification changes have been made to the prior year amounts in order to conform to the current year presentation. On the Consolidated Statements of Operations, the results from the Discontinued Operations, which in the prior year were presented in two lines, have been combined into one line labeled Income (loss) from discontinued operations, net of tax, for all periods presented.

Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables:
For the three months ended September 30, 20212020
Revenues$70,787 $459,442 
Depreciation and amortization expense— (13,656)
Share-based compensation expense(371)(1,045)
Other direct costs(58,123)(340,657)
Loss on impairment of assets— (10,275)
Other non-operating expense(4,938)(14,731)
Gain (loss) on sale of discontinued operations before taxes, net612,010 (488,674)
Pretax income (loss) of discontinued operations619,365 (409,596)
Income tax expense(248,838)(103,794)
Income (loss) from discontinued operations, net of tax$370,527 $(513,390)
For the nine months ended September 30, 20212020
Revenues$542,650 $1,342,298 
Depreciation and amortization expense— (60,168)
Share-based compensation expense(1,198)(2,378)
Other direct costs(430,789)(1,070,362)
Loss on impairment of assets(1,268)(431,587)
Other non-operating expense(20,489)(79,807)
Gain (loss) on sale of discontinued operations before taxes, net625,304 (523,667)
Pretax income (loss) of discontinued operations714,210 (825,671)
Income tax expense(257,440)(95,568)
Income (loss) from discontinued operations, net of tax$456,770 $(921,239)
Operating cash flows of discontinued operations$16,420 $248,972 
Investing cash flows of discontinued operations$(11,161)$(40,578)
Financing cash flows of discontinued operations$(18,054)$8,725 
Loss Recognized on Brazil Held-For-Sale Disposal Group

During the first quarter of 2021, the Company recorded a loss of approximately $32,400 related to the Brazil disposal group, which was classified as a Discontinued Operation, in order to write down the carrying value of those assets to their estimated fair value less costs to sell as of March 31, 2021, in accordance with ASC 360-10, “Impairment and Disposal of Long-lived Assets” (ASC 360-10). The estimated fair value was based on the sale agreement for the disposal group that was announced on November 2, 2020, as previously disclosed. The sale of the Brazil disposal group closed on May 28, 2021. See Note 5, Dispositions, for more information.

The assets and liabilities of the Discontinued Operations, which are subject to finalization, have been classified as held for sale as of September 30, 2021 and December 31, 2020. The assets and liabilities are recorded at the lower of their carrying values or their estimated fair values less costs to sell. 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, 2021December 31, 2020
Assets of Discontinued Operations
Cash and cash equivalents$3,157 $270,164 
Receivables, net1,000 113,386 
Property and equipment, net8,645 259,471 
Goodwill and Tradenames— 1,202,496 
Operating lease right-of-use assets, net6,892 136,806 
Other assets569 183,742 
Valuation allowance on held-for-sale disposal groups— (248,630)
Total assets held for sale$20,263 $1,917,435 
Liabilities of Discontinued Operations
Deferred revenue and student deposits$198 $87,793 
Operating leases, including current portion12,034 151,413 
Long-term debt, seller notes and finance leases, including current portion— 171,451 
Other liabilities4,388 291,599 
Total liabilities held for sale$16,620 $702,256