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Segment Information
 9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
 
In connection with the Rasmussen Acquisition (as further described in “Note 3. Acquisition Activity”), the Company revised its reportable segments to reflect the manner in which the chief operating decision-maker evaluates performance and allocates resources, and to include RU as a separately reportable segment. Prior to the third quarter of 2021, the Company had two reportable segments: the American Public Education, Inc. Segment, or APEI Segment, and the Hondros College of Nursing
Segment, or HCN Segment. Post-acquisition, the Company has three reportable segments: the APUS Segment, which was previously included within the former APEI Segment; the RU Segment; and the HCN Segment. The APEI Segment previously reported the results of both APUS and remaining unallocated Company expenses. GSUSA does not meet the quantitative thresholds to qualify as a reportable segment; therefore, its operational activities are presented below within “Corporate and Other”. Adjustments to reconcile segment results to the Consolidated Financial Statements, including unallocated corporate activity and eliminations, which generally were previously reported within the former APEI Segment, are also included in “Corporate and Other”. Prior periods have been updated to conform to the revised presentation.

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 APUS, RU, and HCN Segments.
 
A summary of financial information by reportable segment is as follows (in thousands):    
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(Unaudited)(Unaudited)
Revenue:
APUS Segment$68,735 $65,906 $211,729 $210,321 
RU Segment61,548 21,132 192,538 21,132 
HCN Segment11,409 11,240 34,436 33,506 
Corporate and Other7,843 (30)15,187 (156)
Total Revenue$149,535 $98,248 $453,890 $264,803 
Depreciation and amortization:
APUS Segment$1,573 $2,246 $4,860 $7,071 
RU Segment6,015 1,935 18,254 1,935 
HCN Segment248 195 693 524 
Corporate and Other146 10 442 31 
Total Depreciation and amortization$7,982 $4,386 $24,249 $9,561 
Income (loss) from operations before interest and income taxes:
APUS Segment$12,532 $7,825 $39,338 $30,969 
RU Segment(7,900)(999)(153,562)(999)
HCN Segment(1,392)448 (3,017)1,348 
Corporate and Other(4,266)(6,012)(19,845)(17,444)
Total (loss) income from operations before interest and income taxes$(1,026)$1,262 $(137,086)$13,874 
Interest income (expense):
APUS Segment$69 $41 $146 $171 
RU Segment30 — 38 — 
HCN Segment5 2 10 6 
Corporate and Other(3,698)(1,348)(10,533)(1,344)
Total Interest expense$(3,594)$(1,305)$(10,339)$(1,167)
Income tax expense (benefit):
APUS Segment$(3,557)$2,606 $11,628 $9,673 
RU Segment(2,183)(371)(38,564)(371)
HCN Segment66 250 (816)494 
Corporate and Other4,814 (2,261)(7,400)(6,287)
Total Income tax (benefit) expense $(860)$224 $(35,152)$3,509 
Capital expenditures:
APUS Segment$811 $1,159 $2,209 $2,973 
RU Segment1,942 1,259 6,860 1,259 
HCN Segment776 367 1,666 1,581 
Corporate and Other67 — 170 — 
Total Capital Expenditures$3,596 $2,785 $10,905 $5,813 
    

A summary of the Company’s consolidated assets by reportable segment is as follows (in thousands):
As of September 30, 2022As of December 31, 2021
(Unaudited)
Assets:
APUS Segment$116,579 $126,926 
RU Segment309,344 429,299 
HCN Segment54,783 51,936 
Corporate and Other180,121 117,447 
Total Assets$660,827 $725,608