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Segment Information
 12 Months Ended
Dec. 31, 2019
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 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 HCN.
A summary of financial information by reportable segment is as follows (in thousands):
 
Year Ended December 31,

2017
 
2018
 
2019
Revenue
 
 
 
 
 
American Public Education Segment
$
265,246

 
$
260,062

 
$
256,899

Hondros College of Nursing Segment
34,002

 
37,625

 
29,479

Intersegment elimination
—

 
—

 
(108
)
Total Revenue
$
299,248

 
$
297,687

 
$
286,270

Depreciation and Amortization
 
 
 
 
 
American Public Education Segment
$
17,376

 
$
16,175

 
$
14,659

Hondros College of Nursing Segment
1,400

 
1,326

 
937

Total Depreciation and Amortization
$
18,776

 
$
17,501

 
$
15,596

Income from operations before interest income and income taxes
 
 
 
 
 
American Public Education Segment
$
30,873

 
$
28,561

 
$
23,522

Hondros College of Nursing Segment
3,986

 
3,965

 
(10,768
)
Intersegment elimination
—

 
—

 
2

Total income from operations before interest income and income taxes
$
34,859

 
$
32,526

 
$
12,756

Interest Income, Net

 

 

American Public Education Segment
$
185

 
$
2,867

 
$
3,866

Hondros College of Nursing Segment
—

 
48

 
42

Total Interest Income, Net
$
185

 
$
2,915

 
$
3,908

Income Tax Expense (Benefit)

 

 

American Public Education Segment
$
10,289

 
$
8,267

 
$
7,754

Hondros College of Nursing Segment
1,204

 
1,020

 
(2,567
)
Total Income Tax Expense
$
11,493

 
$
9,287

 
$
5,187

Capital Expenditures
 
 
 
 
 
American Public Education Segment
$
14,347

 
$
8,793

 
$
6,479

Hondros College of Nursing Segment
441

 
637

 
776

Total Capital Expenditures
$
14,788

 
$
9,430

 
$
7,255



Effective January 1, 2019, the APEI Segment began charging the HCN Segment for the value of courses taken by HCN Segment employees at American Public University System. Intersegment elimination represents the elimination of this intersegment revenue in consolidation.

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

 
As of December 31,

2018
 
2019
Assets
 
 
 
American Public Education Segment
$
322,523

 
$
305,896

Hondros College of Nursing Segment
48,435

 
49,001

Total Assets
$
370,958

 
$
354,897