Assets Held for Sale

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

Assets Held for Sale

Assets held for sale at December 31, 2016 represented excess real property located in Charles Town, West Virginia for the APEI Segment, which was no longer in use due to the relocation of employees to a new facility. Long-lived assets are classified as held for sale when the assets are expected to be sold within the next 12 months and meet the other relevant held-for-sale criteria. As such, the property was recorded at the lower of the carrying value or fair value, less cost to sell, until the asset was sold.

During the three months ended September 30, 2016, the Company recognized a loss of $0.5 million when the asset was classified as held for sale and the net book value was adjusted to fair value. In May 2017, the APEI Segment sold the asset held for sale with a fair value of $2.1 million for a net sales price of $1.5 million. During the nine months ended September 30, 2017, the Company recognized a loss of $0.6 million when the asset was sold, which is included in loss on long-lived assets in these Consolidated Financial Statements.