SEGMENT REPORTING

12 Months Ended

Dec. 31, 2022

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

15. SEGMENT REPORTING

We operate our business in three reportable operating segments: (a) the Transportation and Skilled Trades segment; (b) the Healthcare and Other Professions segment and (c) the Transitional segment.  Our reportable operating segments have been determined based on a method by which we now evaluate performance and allocate resources.  Each reportable operating segment represents a group of post-secondary education providers that offer a variety of degree and non-degree academic programs.  These segments are organized by key market segments to enhance operational alignment within each segment to more effectively execute our strategic plan.  Each of the Company’s schools is a reporting unit and an operating segment.  Our operating segments are described below.

Transportation and Skilled Trades – The Transportation and Skilled Trades segment offers academic programs mainly in the career-oriented disciplines of transportation and skilled trades (e.g. automotive, diesel, HVAC, welding and manufacturing).

Healthcare and Other Professions – The Healthcare and Other Professions segment offers academic programs in the career-oriented disciplines of health sciences, hospitality and business and information technology (e.g. dental assistant, medical assistant, practical nursing, culinary arts and cosmetology).

Transitional – The Transitional segment refers to businesses that are currently being taught-out.  As of December 31, 2022, the only campus classified in the Transitional segment is the Somerville, Massachusetts campus, which has been marked for closure and is expected to be fully taught-out as of December 31, 2023.

We evaluate segment performance based on operating results.  Adjustments to reconcile segment results to consolidated results are included under the caption “Corporate,” which primarily includes unallocated corporate activity.

Summary financial information by reporting segment is as follows:

	For the Year Ended December 31,
	Revenue										Operating Income (Loss)
	2022		% of Total			2021		% of Total			2022			2021
Transportation and Skilled Trades	$	249,905		71.8	%	$	240,531		71.7	%	$	42,335		$	52,055
Healthcare and Other Professions		91,535		26.3	%		87,998		26.2	%		7,189			11,740
Transitional		6,847		2.0	%		6,807		2.0	%		(430	)		105
Corporate		-		0.0	%		-		0.0	%		(32,816	)		(14,639	)
Total	$	348,287		100	%	$	335,336		100	%	$	16,278		$	49,261

	Total Assets
	December 31, 2022		December 31, 2021
Transportation and Skilled Trades	$	153,369	$	156,531
Healthcare and Other Professions		37,104		31,160
Transitional		1,498		2,799
Corporate		99,595		104,809
Total	$	291,566	$	295,299