Acquisitions and Dispositions of Businesses (Tables)

9 Months Ended

Sep. 30, 2016

Acqusitions and Dispositions [Abstract]

Schedule of assets acquired and liabilities assumed

Acquisition-related costs were expensed as incurred and were not significant. The aggregate purchase price of the 2016 acquisitions was allocated as follows on a preliminary basis:

	Weighted Average Life	Purchase Price Allocation
(in thousands)
Cash and cash equivalents		$	10,587
Accounts receivable		8,415
Inventory		971
Other current assets		1,420
Property, plant and equipment		3,940
Goodwill		181,228
Indefinite-lived intangible assets
Trade names and trademarks		53,110
Amortized intangible assets
Student and customer relationships	6 years	22,292
Trade names and trademarks	6 years	2,425
Noncompete agreements	2 years	350
Other	7 years	2,200
	6 years	27,267
Current liabilities		(20,714		)
Noncurrent liabilities		(11,378		)
		$	254,846

Acquisition Pro Forma Financial Information [Table Text Block]

The following unaudited pro forma financial information presents the Company’s results as if the acquisitions had occurred at the beginning of 2015. The unaudited pro forma information also includes the 2015 acquisitions as if they occurred at the beginning of 2014:

	Three Months Ended   September 30					Nine Months Ended   September 30
(in thousands)	2016		2015			2016		2015
Operating revenues	$	626,223	$	696,570		$	1,869,174	$	2,147,273
Net income (loss)	32,400		(229,831		)	135,478		(138,545		)

Information related to Disposal Group

The revenue and operating losses related to schools that were sold as part of the KHEC Campuses sale are as follows:

	Three Months Ended   September 30, 2015		Nine Months Ended   September 30, 2015
(in thousands)
Revenue	$	43,121	$	167,244
Operating income (loss)	629		(6,672		)