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Segment Information
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
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 HCN Segment.
 
In accordance with FASB ASC 280, Segment Reporting, the chief operating decision-maker has been identified as the Company’s Chief Executive Officer. The Company’s Chief Executive Officer reviews operating results to make decisions about allocating resources and assessing performance for the APEI Segment and HCN Segment.
 
A summary of financial information by reportable segment is as follows (unaudited):

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,

2017
 
2016
 
2017

 
2016

 
(In thousands)
Revenue:
 
 
 
 
 
 
 
   American Public Education Segment
$
64,885

 
$
67,065

 
$
197,318

 
$
212,859

   Hondros College of Nursing Segment
8,394

 
6,738

 
23,845

 
21,655

Total Revenue
$
73,279

 
$
73,803

 
$
221,163

 
$
234,514

Depreciation and amortization:
 
 
 
 
 
 
 
   American Public Education Segment
$
4,335

 
$
4,550

 
$
13,117

 
$
13,619

   Hondros College of Nursing Segment
355

 
360

 
1,043

 
1,005

Total Depreciation and amortization
$
4,690

 
$
4,910

 
$
14,160

 
$
14,624

Income from operations before interest income and income taxes:
 
 
 
 
 
 
 
   American Public Education Segment
$
6,855

 
$
5,659

 
$
20,445

 
$
31,211

   Hondros College of Nursing Segment
744

 
(5,267
)
 
1,779

 
(4,189
)
Total Income from operations before interest income and income taxes
$
7,599

 
$
392

 
$
22,224

 
$
27,022

Interest income, net:
 
 
 
 
 
 
 
   American Public Education Segment
$
17

 
$
37

 
$
43

 
$
111

   Hondros College of Nursing Segment
—

 
—

 
—

 
—

Total Interest income, net
$
17

 
$
37

 
$
43

 
$
111

Income tax expense:
 
 
 
 
 
 
 
   American Public Education Segment
$
3,007

 
$
2,100

 
$
8,975

 
$
12,111

   Hondros College of Nursing Segment
287

 
(2,015
)
 
693

 
(1,587
)
Total Income tax expense
$
3,294

 
$
85

 
$
9,668

 
$
10,524

Capital expenditures:
 
 
 
 
 
 
 
   American Public Education Segment
$
2,645

 
$
2,694

 
$
6,187

 
$
8,992

   Hondros College of Nursing Segment
109

 
72

 
348

 
678

Total Capital expenditures
$
2,754

 
$
2,766

 
$
6,535

 
$
9,670




A summary of the Company’s consolidated assets by reportable segment is as follows (current period unaudited):


As of September 30, 2017
 
As of December 31, 2016
 
(In thousands)
Assets:
 
 
 
   American Public Education Segment
$
280,431

 
$
267,260

   Hondros College of Nursing Segment
49,470

 
48,360

Total Assets
$
329,901

 
$
315,620