Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

On November 1, 2013, APEI acquired HCON and subsequently revised the Company’s segment reporting to maintain consistency with the method management uses to evaluate performance and allocate resources, as well as to provide additional information to shareholders. Accordingly, the Company has two operating segments that are managed in the following reportable segments:

•American Public Education Segment, or APEI Segment; and

•Hondros College of Nursing Segment, or HCON Segment.

In accordance with FASB ASC Topic 280, Segment Reporting, the chief operating decision-maker has been identified as the Chief Executive Officer. The Chief Executive Officer reviews operating results to make decisions about allocating resources and assessing performance for APEI and HCON.

A summary of financial information by reportable segment is as follows (in thousands):

	Year Ended December 31,
	2013		2014		2015
Revenue
American Public Education Segment	$	325,678	$	319,879	$	297,439
Hondros College of Nursing Segment	3,801		30,141		30,471
Total Revenue	$	329,479	$	350,020	$	327,910
Depreciation and Amortization
American Public Education Segment	$	13,344	$	14,859	$	19,337
Hondros College of Nursing Segment	164		1,262		1,183
Total Depreciation and Amortization	$	13,508	$	16,121	$	20,520
Income from continuing operations before interest income and income taxes
American Public Education Segment	$	67,161	$	62,499	$	48,967
Hondros College of Nursing Segment	276		3,333		3,314
Total income from continuing operations before interest income and income taxes	$	67,437	$	65,832	$	52,281
Interest Income, Net
American Public Education Segment	$	308	$	361	$	115
Hondros College of Nursing Segment	0		0		0
Total Interest Income, Net	$	308	$	361	$	115
Income Tax Expense
American Public Education Segment	$	25,635	$	23,861	$	18,788
Hondros College of Nursing Segment	10		1,289		1,284
Total Income Tax Expense	$	25,645	$	25,150	$	20,072
Capital Expenditures
American Public Education Segment	$	20,642	$	24,273	$	24,541
Hondros College of Nursing Segment	7		323		1,461
Total Capital Expenditures	$	20,649	$	24,596	$	26,002

A summary of the Company’s consolidated assets by reportable segment is as follows (in thousands):

	As of December 31,
	2014		2015
Assets
American Public Education Segment	$	245,544	$	250,118
Hondros College of Nursing Segment	52,360		53,778
Total Assets	$	297,904	$	303,896