Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2021

Revenue From Contract With Customer [Abstract]

Summary of Disaggregation of Revenue by Major Source

The following tables disaggregate our revenue by major source for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands):

	For the Year Ended December 31, 2021
	CTU ⁽⁴⁾		AIUS ⁽⁵⁾		Corporate and Other ⁽⁶⁾		Total
Tuition, net ⁽¹⁾	$	384,307	$	269,645	$	-	$	653,952
Technology fees		21,249		11,322		-		32,571
Other miscellaneous fees⁽²⁾		1,227		665		-		1,892
Total tuition and fees, net		406,783		281,632		-		688,415
Other revenue⁽³⁾		1,766		1,728		1,125		4,619
Total revenue	$	408,549	$	283,360	$	1,125	$	693,034

	For the Year Ended December 31, 2020
	CTU		AIUS		Corporate and Other ⁽⁶⁾		Total
Tuition, net	$	381,371	$	270,430	$	-	$	651,801
Technology fees		20,687		10,122		-		30,809
Other miscellaneous fees⁽²⁾		1,283		686		-		1,969
Total tuition and fees, net		403,341		281,238		-		684,579
Other revenue⁽³⁾		2,166		123		446		2,735
Total revenue	$	405,507	$	281,361	$	446	$	687,314

	For the Year Ended December 31, 2019
	CTU		AIUS		Corporate and Other ⁽⁶⁾		Total
Tuition, net	$	370,318	$	225,364	$	-	$	595,682
Technology fees		17,844		9,412		-		27,256
Other miscellaneous fees⁽²⁾		1,690		428		-		2,118
Total tuition and fees, net		389,852		235,204		-		625,056
Other revenue⁽³⁾		2,411		170		67		2,648
Total revenue	$	392,263	$	235,374	$	67	$	627,704

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(1)

Tuition includes revenue earned for degree-granting programs as well as revenue earned for non-degree professional development and continuing education offerings related to the DigitalCrafts and Hippo acquisitions from the date of acquisitions.

(2)

Other miscellaneous fees include student activity fees and graduation fees.

(3) Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.

(4)

CTU includes revenue related to the Hippo acquisition commencing on the September 10, 2021 date of acquisition.

(5)

AIUS includes revenue related to the (i) DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition, and (ii) Trident acquisition commencing on the March 2, 2020 date of acquisition.

(6)

Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.

Summary of Deferred Revenue Balances Offset with Contract Assets

The amount of deferred revenue balances which are being offset with contract assets balances as of December 31, 2021 and 2020 were as follows (dollars in thousands):

	As of December 31,
	2021			2020
Gross deferred revenue	$	113,719		$	85,402
Gross contract assets		(43,106	)		(50,868	)
Deferred revenue, net	$	70,613		$	34,534

Changes in Deferred Revenue Balances

Changes in our deferred revenue balances for the years ended December 31, 2021 and 2020 were as follows (dollars in thousands):

	For the Year Ended December 31, 2021
	CTU			AIUS			Total
Gross deferred revenue, January 1, 2021	$	28,522		$	56,880		$	85,402
Business acquisitions, beginning balance		3,952			1,404			5,356
Revenue earned from prior balances		(27,857	)		(46,591	)		(74,448	)
Billings during period ⁽¹⁾		439,836			271,053			710,889
Revenue earned for new billings during the period		(378,926	)		(235,041	)		(613,967	)
Other adjustments		(853	)		1,340			487
Gross deferred revenue, December 31, 2021	$	64,674		$	49,045		$	113,719

	For the Year Ended December 31, 2020
	CTU			AIUS			Total
Gross deferred revenue, January 1, 2020	$	27,845		$	35,359		$	63,204
Business acquisition, beginning balance		-			13,395			13,395
Revenue earned from prior balances		(25,179	)		(40,402	)		(65,581	)
Billings during period ⁽¹⁾		404,930			289,751			694,681
Revenue earned for new billings during the period		(378,161	)		(240,836	)		(618,997	)
Other adjustments		(913	)		(387	)		(1,300	)
Gross deferred revenue, December 31, 2020	$	28,522		$	56,880		$	85,402

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(1)

Billings during period includes adjustments for prior billings.