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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Summary Financial Information by Reporting Segment

Summary financial information by reporting segment is as follows (dollars in thousands):

 

 

 

Revenue

 

 

Operating Income (Loss)

 

 

Depreciation

and

Amortization

 

 

Capital Expenditures

 

 

Total Assets (1)

 

For the Year Ended December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CTU

 

$

405,507

 

 

$

138,490

 

 

$

6,165

 

 

$

110

 

 

$

96,922

 

AIU (2)

 

 

281,361

 

 

 

30,822

 

 

 

8,301

 

 

 

1,224

 

 

 

141,602

 

Total University Group

 

 

686,868

 

 

 

169,312

 

 

 

14,466

 

 

 

1,334

 

 

 

238,524

 

Corporate and Other

 

 

446

 

 

 

(26,378

)

 

 

320

 

 

 

8,434

 

 

 

482,993

 

Total

 

$

687,314

 

 

$

142,934

 

 

$

14,786

 

 

$

9,768

 

 

$

721,517

 

For the Year Ended December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CTU (3)

 

$

392,263

 

 

$

108,602

 

 

$

5,397

 

 

$

580

 

 

$

100,414

 

AIU (4)

 

 

235,374

 

 

 

16,413

 

 

 

3,388

 

 

 

411

 

 

 

104,747

 

Total University Group

 

 

627,637

 

 

 

125,015

 

 

 

8,785

 

 

 

991

 

 

 

205,161

 

Corporate and Other (5)

 

 

67

 

 

 

(38,553

)

 

 

360

 

 

 

4,183

 

 

 

393,985

 

Total

 

$

627,704

 

 

$

86,462

 

 

$

9,145

 

 

$

5,174

 

 

$

599,146

 

For the Year Ended December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CTU

 

$

375,770

 

 

$

111,623

 

 

$

5,310

 

 

$

168

 

 

 

 

 

AIU

 

 

204,920

 

 

 

8,176

 

 

 

3,582

 

 

 

201

 

 

 

 

 

Total University Group

 

 

580,690

 

 

 

119,799

 

 

 

8,892

 

 

 

369

 

 

 

 

 

Corporate and Other (6)

 

 

606

 

 

 

(48,501

)

 

 

502

 

 

 

6,363

 

 

 

 

 

Total

 

$

581,296

 

 

$

71,298

 

 

$

9,394

 

 

$

6,732

 

 

 

 

 

__________________

(1)

Total assets are presented on a consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.

(2)      AIU results of operations and total assets include the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of December 31, 2020.

For the year ended December 31, 2019, segment results included:

(3)     CTU: a $18.6 million charge related to the FTC settlement.

(4)     AIU: a $11.4 million charge related to the FTC settlement.

(5)     Corporate and Other: a $7.1 million charge related to the Oregon arbitration matter for closed campuses.

For the year ended December 31, 2018, segment results included:

(6)

Corporate and Other: $14.6 million of charges related to significant legal settlements for the Surrett and multi-state AG matters and $9.4 million of charges related to remaining lease obligations for vacated space.