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<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE 1:  INTERIM FINANCIAL STATEMENTS</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">The interim consolidated financial statements include the accounts of DeVry Inc. (“DeVry”) and its wholly-owned and majority-owned subsidiaries. These financial statements are unaudited but, in the opinion of management, contain all adjustments, consisting only of normal, recurring adjustments, necessary to present fairly the financial condition and results of operations of DeVry. The June 30, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;"> data that is presented is derived from audited financial statements.</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">The interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in DeVry's Annual Report on Form 10-K for the fiscal year ended June 30, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">, as filed with the Securities and Exchange Commission.</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">The results of operations for the three months ended </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">, are not necessarily indicative of results to be expected for the entire fiscal year.</font></p><p style='margin-top:0pt; margin-bottom:10pt'> </p>
<p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE 2:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Use of Estimates</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses reported during the period. Actual results could differ from those estimates. </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Marke</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;">table Securities and Investments</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:6.5px;">DeVry owns investments in marketable securities that have been designated as “available for sale” in accordance with authoritative guidance. Available for sale securities are carried at fair value with the unrealized gains and losses reported in the Consolidated Balance Sheets as a component of Accumulated Other Comprehensive Income. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:13.5px;">Marketable securities and investments consist of investments in mutual funds</font><font style="font-family:Calibri;font-size:10pt;">. </font><font style="font-family:Times New Roman;font-size:10pt;">The following is a summary of our available-for-sale marketable securities at </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;"> (dollars in thousands):</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 95px; text-align:left;border-color:#000000;min-width:95px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 163px; text-align:left;border-color:#000000;min-width:163px;"> </td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 6px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:6px;"> </td><td colspan="4" style="width: 174px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:174px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Gross Unrealized</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 95px; text-align:left;border-color:#000000;min-width:95px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 163px; text-align:left;border-color:#000000;min-width:163px;"> </td><td colspan="2" style="width: 88px; text-align:center;border-color:#000000;min-width:88px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Cost</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td colspan="2" style="width: 86px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:86px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">(Loss)</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:6px;"> </td><td colspan="2" style="width: 88px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:88px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Gain</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td colspan="2" style="width: 89px; text-align:center;border-color:#000000;min-width:89px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Fair Value</font></td></tr><tr style="height: 17px"><td style="width: 95px; text-align:left;border-color:#000000;min-width:95px;"> </td><td colspan="2" style="width: 168px; text-align:left;border-color:#000000;min-width:168px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Marketable Securities:</font></td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 95px; text-align:left;border-color:#000000;min-width:95px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 163px; text-align:left;border-color:#000000;min-width:163px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Bond Mutual Fund</font></td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 857</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 77</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 934</font></td></tr><tr style="height: 17px"><td style="width: 95px; text-align:left;border-color:#000000;min-width:95px;"> </td><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 163px; text-align:left;border-color:#000000;min-width:163px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Stock Mutual Funds</font></td><td style="width: 8px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:8px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">1,984</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 6px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (588)</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,396</font></td></tr><tr style="height: 18px"><td style="width: 95px; text-align:left;border-color:#000000;min-width:95px;"> </td><td colspan="2" style="width: 168px; text-align:left;border-color:#000000;min-width:168px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Total Marketable Securities</font></td><td style="width: 8px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,841</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 6px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:6px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (588)</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 8px; text-align:right;border-color:#000000;min-width:8px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 77</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,330</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Investments are classified as short-term if they are readily convertible to cash or have other characteristics of short-term investments such as highly liquid markets or maturities within one year. All mutual fund investments are recorded at fair market value based upon quoted market prices. At </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">, all of the Bond and Stock mutual fund investments are held in a rabbi trust for the purpose of paying benefits under DeVry's non-qualified deferred compensation plan. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">As of </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">, all unrealized losses in the above table have been in a continuous unrealized loss position for more than one year. When evaluating its investments for possible impairment, DeVry reviews factors such as length of time and extent to which fair value has been less than cost basis, the financial condition of the issuer, and DeVry's ability and intent to hold the investment for a period of time that may be sufficient for anticipated recovery in fair value. The decline in value of the above investments is considered temporary in nature and, accordingly, DeVry does not consider these investments to be other-than-temporarily impaired as of </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;">.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">As of June 30, 2010, DeVry held auction-rate debt securities in the aggregate principal amount of $13.5 million. </font><font style="font-family:Times New Roman;font-size:10pt;">These </font><font style="font-family:Times New Roman;font-size:10pt;">outstanding securities were </font><font style="font-family:Times New Roman;font-size:10pt;">purchased</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">by </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry's broker, </font><font style="font-family:Times New Roman;font-size:10pt;">UBS</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> in early July 2010. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Realized gains and losses are computed on the basis of specific identification and are included in Interest and Other income/(expense) in the Consolidated Statements of Income. DeVry has not recorded any realized gains or realized losses for fiscal 201</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">. See Note 4 for further disclosures on the Fair Value of Financial Instruments.</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;"> </font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Prepaid Clinical Fees</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Clinical rotation costs for Ross University medical students are included in Cost of Educational Services. Over the past several years, Ross University has entered into long-term contracts with a hospital group to secure clinical rotations for its students at fixed rates in exchange for prepayment of the rotation fees. Under the contracts, the established rate-per-clinical rotation was being deducted from the prepaid balance and charged to expense as the medical students utilized the clinical clerkships. The hospital group closed two of its hospitals due to financial difficulties in February 2009. To date, the hospital group has provided Ross with a limited number of additional clinical clerkships at its remaining hospital, but not nearly enough to offset the void created by the closure of its other two hospitals. During April 2009, Ross filed a lawsuit against the hospital group to enforce the contract.  The suit seeks specific performance of the hospital group's obligations to provide Ross with the prepaid clinical clerkships. As of September 30, 2010, the outstanding balance of prepaid clinical rotations with this hospital group was approximately $</font><font style="font-family:Times New Roman;font-size:10pt;">5.8</font><font style="font-family:Times New Roman;font-size:10pt;"> million. Though DeVry believes that Ross has a contractual right to utilize other clinical rotations within the hospital group's system, given the business uncertainty of this situation, a reserve of $</font><font style="font-family:Times New Roman;font-size:10pt;">1.6</font><font style="font-family:Times New Roman;font-size:10pt;"> million has been provided against the prepaid balance. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Internal-Use Software Development Costs</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">DeVry capitalizes certain internal-use software development costs that are amortized using the straight-line method over the estimated lives of the software, not to exceed five years. Capitalized costs include external direct costs of equipment, materials and services consumed in developing or obtaining internal-use software and payroll-related costs for employees directly associated with the internal-use software development project. Capitalization of such costs ceases at the point at which the project is substantially complete and ready for its intended purpose. Capitalized internal-use software development costs for projects not yet complete are included as construction in progress in the Land, Buildings and Equipment section of the Consolidated Balance Sheets. Costs capitalized during the </font><font style="font-family:Times New Roman;font-size:10pt;">three</font><font style="font-family:Times New Roman;font-size:10pt;"> months ended September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;"> and September 30, 2009</font><font style="font-family:Times New Roman;font-size:10pt;">, were approximately $</font><font style="font-family:Times New Roman;font-size:10pt;">4</font><font style="font-family:Times New Roman;font-size:10pt;">.8</font><font style="font-family:Times New Roman;font-size:10pt;"> million</font><font style="font-family:Times New Roman;font-size:10pt;"> and $4.2 million</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> respectively,</font><font style="font-family:Times New Roman;font-size:10pt;"> primarily related to Project DELTA (a new student information system for DeVry University and Chamberlain College of Nursing). As of September 30, 2010 and 2009, the net balance of capitalized software development costs was $</font><font style="font-family:Times New Roman;font-size:10pt;">42.9</font><font style="font-family:Times New Roman;font-size:10pt;"> million and $</font><font style="font-family:Times New Roman;font-size:10pt;">12.9</font><font style="font-family:Times New Roman;font-size:10pt;"> million, respectively. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Perkins Program Fund</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">DeVry</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">University</font><font style="font-family:Times New Roman;font-size:10pt;"> is required, under federal aid program regulations, to make contributions to the Perkins Student Loan Fund, most recently at a rate equal to 33% of new contributions by the federal government. </font><font style="font-family:Times New Roman;font-size:10pt;">No new federal contributions </font><font style="font-family:Times New Roman;font-size:10pt;">have been</font><font style="font-family:Times New Roman;font-size:10pt;"> received in fiscal 20</font><font style="font-family:Times New Roman;font-size:10pt;">11 or </font><font style="font-family:Times New Roman;font-size:10pt;">fiscal </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">. DeVry carries its investment in such contributions at original values, net of allowances for expected losses on</font><font style="font-family:Times New Roman;font-size:10pt;"> loan collections, of $</font><font style="font-family:Times New Roman;font-size:10pt;">2.6</font><font style="font-family:Times New Roman;font-size:10pt;"> million at </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2010 and 2009. The allowance for future loan losses is based upon an analysis of actual loan losses experienced since the inception of the program. As previous borrowers repay their Perkins loans, their payments are used to fund new loans, thus creating a revolving loan fund. The federal contributions to this revolving loan program do not belong to DeVry and are not recorded on its financial statements. Under current law, upon termination of the program by the federal government or withdrawal from future program participation by </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">University</font><font style="font-family:Times New Roman;font-size:10pt;">, subsequent student loan repayments would be divided between the federal government and </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">University</font><font style="font-family:Times New Roman;font-size:10pt;"> to satisfy their respective cumulative contributions to the fund.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Earnings per Common Share</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">Basic earnings per share is computed by dividing net income attributable to DeVry Inc. by the weighted average number of common shares outstanding during the period plus unvested participating restricted shares. Diluted earnings per share is computed by dividing net income attributable to DeVry Inc. by the weighted average number of shares assuming dilution. Dilutive shares are computed using the Treasury Stock Method and reflect the additional shares that would be outstanding if dilutive stock options were exercised during the period. Excluded from the computations of diluted earnings per share were options to purchase </font><font style="font-family:Times New Roman;font-size:10pt;">979,000</font><font style="font-family:Times New Roman;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;">616,000</font><font style="font-family:Times New Roman;font-size:10pt;"> shares of common stock for the three months ended September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;">2009</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">, </font><font style="font-family:Times New Roman;font-size:10pt;">respectively</font><font style="font-family:Times New Roman;font-size:10pt;">. These o</font><font style="font-family:Times New Roman;font-size:10pt;">utstanding options were excluded because the option exercise prices were greater than the average market price of the common shares or the assumed proceeds upon exercise under the Treasury Stock Method resulted in the repurchase of more shares than would be issued; thus, their effect would be anti-dilutive.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;">The following is a reconciliation of basic shares to diluted shares (in thousands).</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 35px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"> </td><td colspan="3" style="width: 166px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:166px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Three Months Ended September 30,</font></td></tr><tr style="height: 17px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2009</font></td></tr><tr style="height: 17px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Weighted Average Shares Outstanding</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 70,701</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 71,125</font></td></tr><tr style="height: 17px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Unvested Participating Restricted Shares</font></td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 297</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 130</font></td></tr><tr style="height: 17px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Basic shares</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 70,998</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 71,255</font></td></tr><tr style="height: 17px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Effect of Dilutive Stock Options</font></td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 656</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 886</font></td></tr><tr style="height: 18px"><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Diluted Shares</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 71,654</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 72,141</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Treasury Stock</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">DeVry's Board of Directors has authorized stock repurchase programs on </font><font style="font-family:Times New Roman;font-size:10pt;">four</font><font style="font-family:Times New Roman;font-size:10pt;"> occasions (see “Note 5 – Dividends and Stock Repurchase Program”). The first repurchase program was completed in April 2008</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> the second program completed in November 2009</font><font style="font-family:Times New Roman;font-size:10pt;"> and the third program was completed in September 2010</font><font style="font-family:Times New Roman;font-size:10pt;">. The </font><font style="font-family:Times New Roman;font-size:10pt;">fourth</font><font style="font-family:Times New Roman;font-size:10pt;"> repurchase program was approved by the DeVry Board of Directors in </font><font style="font-family:Times New Roman;font-size:10pt;">August</font><font style="font-family:Times New Roman;font-size:10pt;"> 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">. Shares that are repurchased by DeVry are recorded as Treasury Stock at cost and result in a reduction of Shareholders' Equity.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">From time to time, shares of its common stock are delivered back to DeVry under a swap arrangement resulting from employees' exercise of incentive stock options pursuant to the terms of the DeVry Stock Incentive Plans (see “Note 3 – Stock-Based Compensation”). These shares are recorded as Treasury Stock at cost and result in a reduction of Shareholders' Equity. </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">Treasury shares are reissued on a monthly basis at market value, to the DeVry Employee Stock Purchase Plan in exchange for employee payroll deductions. When treasury shares are reissued, DeVry uses an average cost method to reduce the Treasury Stock balance. Gains on the difference between the average cost and the reissuance price are credited to Additional Paid-in Capital. Losses on the difference are charged to Additional Paid-in Capital to the extent that previous net gains from reissuance are included therein; otherwise such losses are charged to Retained Earnings.</font></p><p style='margin-top:0pt; margin-bottom:10pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Accumulated Other Comprehensive Income</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Accumulated Other Comprehensive Income is composed of the change in cumulative translation adjustments and unrealized gains and losses on available-for-sale marketable securities, net of the effects of income taxes. The following are the amounts recorded in Accumulated Other Comprehensive Income for the three months ended </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 3</font><font style="font-family:Times New Roman;font-size:10pt;">0</font><font style="font-family:Times New Roman;font-size:10pt;"> (dollars in thousands).</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 36px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td colspan="4" style="width: 175px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:175px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Three Months Ended September 30,</font></td></tr><tr style="height: 17px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2009</font></td></tr><tr style="height: 17px"><td colspan="3" style="width: 404px; text-align:left;border-color:#000000;min-width:404px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Balance at Beginning of Period</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 9,896</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 7,157</font></td></tr><tr style="height: 17px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td colspan="2" style="width: 394px; text-align:left;border-color:#000000;min-width:394px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Net Unrealized Investment Gains</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 78</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 146</font></td></tr><tr style="height: 17px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td colspan="2" style="width: 394px; text-align:left;border-color:#000000;min-width:394px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Net Unrealized Investment Losses Recognized</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td></tr><tr style="height: 17px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td colspan="2" style="width: 394px; text-align:left;border-color:#000000;min-width:394px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Translation Adjustments:</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td colspan="2" style="width: 391px; text-align:left;border-color:#000000;min-width:391px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Attributable to DeVry Inc.</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,219</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 3,026</font></td></tr><tr style="height: 17px"><td style="width: 10px; text-align:left;border-color:#000000;min-width:10px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 382px; text-align:left;border-color:#000000;min-width:382px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Attributable to Non-controlling Interest</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 511</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 802</font></td></tr><tr style="height: 18px"><td colspan="3" style="width: 404px; text-align:left;border-color:#000000;min-width:404px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Balance at End of Period</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 12,704</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 11,131</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">The Accumulated Other Comprehensive Income balance at </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">, consists of $</font><font style="font-family:Times New Roman;font-size:10pt;">13.0</font><font style="font-family:Times New Roman;font-size:10pt;"> million ($</font><font style="font-family:Times New Roman;font-size:10pt;">10.6</font><font style="font-family:Times New Roman;font-size:10pt;"> million attributable to DeVry Inc. and $</font><font style="font-family:Times New Roman;font-size:10pt;">2.4</font><font style="font-family:Times New Roman;font-size:10pt;"> million attributable to non-controlling interests) of cumulative translation gains and $</font><font style="font-family:Times New Roman;font-size:10pt;">0.3</font><font style="font-family:Times New Roman;font-size:10pt;"> million of unrealized losses on available-for-sale marketable securities, net of tax of $</font><font style="font-family:Times New Roman;font-size:10pt;">0.2</font><font style="font-family:Times New Roman;font-size:10pt;"> million and all attributable to DeVry Inc. At </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2009</font><font style="font-family:Times New Roman;font-size:10pt;">, this balance consisted of $</font><font style="font-family:Times New Roman;font-size:10pt;">11.5</font><font style="font-family:Times New Roman;font-size:10pt;"> million </font><font style="font-family:Times New Roman;font-size:10pt;">(</font><font style="font-family:Times New Roman;font-size:10pt;">$</font><font style="font-family:Times New Roman;font-size:10pt;">9.5</font><font style="font-family:Times New Roman;font-size:10pt;"> million attributable to DeVry Inc. and $</font><font style="font-family:Times New Roman;font-size:10pt;">2.0</font><font style="font-family:Times New Roman;font-size:10pt;"> million attributable to non-controlling interests)</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">of cumulative translation gains and $</font><font style="font-family:Times New Roman;font-size:10pt;">0.4</font><font style="font-family:Times New Roman;font-size:10pt;"> million of unrealized losses on available-for-sale marketable securities, net of tax of $</font><font style="font-family:Times New Roman;font-size:10pt;">0.2</font><font style="font-family:Times New Roman;font-size:10pt;"> million and all attributable to DeVry Inc.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:6.5px;">Advertising Expense</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">Advertising costs are recognized as expense in the period in which materials are purchased or services are performed. Advertising expense, which is included in student services and administrative expense in the Consolidated Statements of Income, was $</font><font style="font-family:Times New Roman;font-size:10pt;">62.0</font><font style="font-family:Times New Roman;font-size:10pt;"> million and $</font><font style="font-family:Times New Roman;font-size:10pt;">52.7</font><font style="font-family:Times New Roman;font-size:10pt;"> million for the three months ended </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;"> and 2009</font><font style="font-family:Times New Roman;font-size:10pt;">, respectively. </font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:9px;">Recent Accounting Pronouncements</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">In January 2010, the FASB issued and revised authoritative guidance for improving disclosure on fair value measurements. This guidance r</font><font style="font-family:Times New Roman;font-size:10pt;">equires reporting entities to provide information about movements of assets among levels of the three-tier fair value hierarchy established by SFAS No. 157 (</font><font style="font-family:Times New Roman;font-size:10pt;">ASC 820</font><font style="font-family:Times New Roman;font-size:10pt;">). The guidance </font><font style="font-family:Times New Roman;font-size:10pt;">is</font><font style="font-family:Times New Roman;font-size:10pt;"> effective for </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry's </font><font style="font-family:Times New Roman;font-size:10pt;">fiscal year</font><font style="font-family:Times New Roman;font-size:10pt;"> 2011</font><font style="font-family:Times New Roman;font-size:10pt;">, and it should be used for quarterly and annual filings. </font><font style="font-family:Times New Roman;font-size:10pt;">T</font><font style="font-family:Times New Roman;font-size:10pt;">he application of this guidance </font><font style="font-family:Times New Roman;font-size:10pt;">did not</font><font style="font-family:Times New Roman;font-size:10pt;"> have a significant impact on </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry's</font><font style="font-family:Times New Roman;font-size:10pt;"> financial disclosures.</font></p>
<p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE 3:  STOCK-BASED COMPENSATION</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry maintains four stock-based award plans: the 1994 Stock Incentive Plan, the 1999 Stock Incentive Plan, the 2003 Stock Incentive Plan and the 2005 Incentive Plan. Under these plans, directors, key executives and managerial employees are eligible to receive incentive stock or nonqualified options to purchase shares of DeVry's common stock. The 2005 Incentive Plan also permits the award of stock appreciation rights, restricted stock, performance stock and other stock and cash based compensation. The 1999 and 2003 Stock Incentive Plans and the 2005 Incentive Plan are administered by the Compensation Committee of the Board of Directors. Options are granted for terms of up to 10 years and can vest immediately or over periods of up to five years. The requisite service period is equal to the vesting period. The option price under the plans is the fair market value of the shares on the date of the grant. </font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry accounts for options granted to retirement eligible employees that fully vest upon an employee's retirement under the non-substantive vesting period approach to these options. Under this approach, the entire compensation cost is recognized at the grant date for options issued to retirement eligible employees.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">At </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">, </font><font style="font-family:Times New Roman;font-size:10pt;">4,683,254</font><font style="font-family:Times New Roman;font-size:10pt;"> authorized but unissued shares of common stock were reserved for issuance under DeVry's stock incentive plans.</font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Stock-based compensation cost is measured at grant date, based on the fair value of the award, and is recognized as expense over the employee requisite service period, reduced by an estimated forfeiture rate.</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td colspan="11" style="width: 696px; text-align:left;border-color:#000000;min-width:696px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">The following is a summary of options activity for the three months ended September 30, 2010:</font></td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"> </td><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Weighted</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Weighted</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Average</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Aggregate</font></td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Average</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Remaining</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Intrinsic</font></td></tr><tr style="height: 20px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Options</font></td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Exercise</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Contractual</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Value</font></td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"> </td><td style="width: 79px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:79px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Outstanding </font></td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Price </font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Life </font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">($000)</font></td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Outstanding at July 1, 2010</font></td><td style="width: 79px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,634,541</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 33.76</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Options Granted </font></td><td style="width: 79px; text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 508,150</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 38.71</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Options Exercised </font></td><td style="width: 79px; text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (9,342)</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 26.16</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Options Canceled </font></td><td style="width: 79px; text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (25,331)</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 33.85</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"> </td></tr><tr style="height: 17px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Outstanding at September 30, 2010 </font></td><td style="width: 79px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 3,108,018</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 34.67</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 6.57</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 47,297</font></td></tr><tr style="height: 18px"><td style="width: 274px; text-align:left;border-color:#000000;min-width:274px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Exercisable at September 30, 2010 </font></td><td style="width: 79px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,704,179</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 9px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 30.14</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;"> 5.09</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 33,288</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The total intrinsic value of options exercised for the </font><font style="font-family:Times New Roman;font-size:10pt;">three months ended</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">September 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">and </font><font style="font-family:Times New Roman;font-size:10pt;">2009</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">was $</font><font style="font-family:Times New Roman;font-size:10pt;">0.</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;"> million and $</font><font style="font-family:Times New Roman;font-size:10pt;">1.1</font><font style="font-family:Times New Roman;font-size:10pt;"> million, respectively.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The fair value of DeVry's stock-based awards was estimated using a binomial model. This model uses historical cancellation and exercise experience of DeVry to determine the option value. It also takes into account the illiquid nature of employee options during the vesting period.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The weighted average estimated grant date fair values, for options granted at market price under DeVry's stock option plans during first </font><font style="font-family:Times New Roman;font-size:10pt;">three</font><font style="font-family:Times New Roman;font-size:10pt;"> months of fiscal years 201</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;"> and 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;"> were $</font><font style="font-family:Times New Roman;font-size:10pt;">16.53</font><font style="font-family:Times New Roman;font-size:10pt;"> and $</font><font style="font-family:Times New Roman;font-size:10pt;">23.09</font><font style="font-family:Times New Roman;font-size:10pt;">, per share, respectively. The fair values of DeVry's stock option awards were estimated assuming the following weighted average assumptions:</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"> </td><td colspan="4" style="width: 171px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:171px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Fiscal year</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"> </td><td colspan="2" style="width: 90px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:90px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2011</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:6px;"> </td><td colspan="2" style="width: 90px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:90px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Expected Life (in Years) </font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 6.67</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 6.77</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Expected Volatility </font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">41.88</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">41.06</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Risk-free Interest Rate </font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">1.99</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">3.02</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Dividend Yield </font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">0.29</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">0.31</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 411px; text-align:left;border-color:#000000;min-width:411px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Pre-vesting Forfeiture Rate </font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">5.00</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">5.00</font></td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">%</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The expected life of the options granted is based on the weighted average exercise life with age and salary adjustment factors from historical exercise behavior. DeVry's expected volatility is computed by combining and weighting the implied market volatility, the most recent volatility over the expected life of the option grant, and DeVry's long-term historical volatility. The pre-vesting forfeiture rate is based on DeVry's historical stock option forfeiture experience.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">If factors change and different assumptions are employed in the valuation of stock-based awards in future periods, the stock-based compensation expense that DeVry records may differ significantly from what was recorded in previous periods.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">During the first </font><font style="font-family:Times New Roman;font-size:10pt;">three</font><font style="font-family:Times New Roman;font-size:10pt;"> months of fiscal year </font><font style="font-family:Times New Roman;font-size:10pt;">2011</font><font style="font-family:Times New Roman;font-size:10pt;">, DeVry granted </font><font style="font-family:Times New Roman;font-size:10pt;">249,180</font><font style="font-family:Times New Roman;font-size:10pt;"> shares of restricted stock to selected employees and non-employee directors. Of these, </font><font style="font-family:Times New Roman;font-size:10pt;">69,970 </font><font style="font-family:Times New Roman;font-size:10pt;">are performance based shares which are earned by the recipients over a three year period based on achievement of specified DeVry return on invested capital targets. The remaining </font><font style="font-family:Times New Roman;font-size:10pt;">179,210</font><font style="font-family:Times New Roman;font-size:10pt;"> shares and all other previously granted </font><font style="font-family:Times New Roman;font-size:10pt;">non-performance </font><font style="font-family:Times New Roman;font-size:10pt;">shares of restricted stock are subject to restrictions which lapse ratably over three and four-year periods on the grant anniversary date based on the recipient's continued service on the Board of Directors or employment with DeVry, or upon retirement. During the restriction period, the recipient of the non-performance based shares shall have a beneficial interest in the restricted stock and all associated rights and privileges of a stockholder, including the right to receive dividends. These rights do not pertain to the performance based shares. The following is a summary of restricted stock activity for the </font><font style="font-family:Times New Roman;font-size:10pt;">three months ended</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, </font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;">:</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"> </td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Weighted</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Restricted</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Average</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Stock</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Grant Date</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"> </td><td style="width: 79px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:79px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Outstanding </font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Fair Value</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Nonvested at July 1, 2010 </font></td><td style="width: 79px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 214,098</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 52.16</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Shares Granted </font></td><td style="width: 79px; text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 249,180</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 38.71</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Shares Vested </font></td><td style="width: 79px; text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (41,136)</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 51.83</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Shares Canceled </font></td><td style="width: 79px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (2,147)</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 49.89</font></td></tr><tr style="height: 21px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 365px; text-align:left;border-color:#000000;min-width:365px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Nonvested at September 30, 2010 </font></td><td style="width: 79px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 419,995</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 44.22</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 37px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td colspan="7" style="width: 612px; text-align:left;border-color:#000000;min-width:612px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">The following table shows total stock-based compensation expense included in the Consolidated Statement of Earnings:</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td colspan="4" style="width: 178px; text-align:center;border-color:#000000;min-width:178px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">For the Three Months</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"> </td><td colspan="5" style="width: 190px; text-align:center;border-color:#000000;min-width:190px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Ended September 30,</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:6px;"> </td><td colspan="2" style="width: 92px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:92px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2009</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td colspan="4" style="width: 178px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:178px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 8pt;COLOR: #000000;TEXT-ALIGN: center;">(Dollars in thousands)</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Cost of Educational Services </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,680</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,159</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Student Services and Administrative Expense </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 3,570</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,463</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Income Tax Benefit </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (604)</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (625)</font></td></tr><tr style="height: 21px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 358px; text-align:left;border-color:#000000;min-width:358px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Net Stock-Based Compensation Expense </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 4,646</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:2px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,997</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">As of </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;">, $</font><font style="font-family:Times New Roman;font-size:10pt;">31.3</font><font style="font-family:Times New Roman;font-size:10pt;"> million of total pre-tax unrecognized compensation costs related to non-vested awards is expected to be recognized over a weighted average period of </font><font style="font-family:Times New Roman;font-size:10pt;">3.0</font><font style="font-family:Times New Roman;font-size:10pt;"> years. The total fair value of options and shares vested during the </font><font style="font-family:Times New Roman;font-size:10pt;">three months ended</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;"> September 30, 2010 </font><font style="font-family:Times New Roman;font-size:10pt;">and </font><font style="font-family:Times New Roman;font-size:10pt;">2009</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> was approximately $</font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;">.6 million and $</font><font style="font-family:Times New Roman;font-size:10pt;">4.8</font><font style="font-family:Times New Roman;font-size:10pt;"> million, respectively.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">There were no capitalized stock-based compensation costs at </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;">2009</font><font style="font-family:Times New Roman;font-size:10pt;">.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry has an established practice of issuing new shares of common stock to satisfy share option exercises. However, DeVry also may issue treasury shares to satisfy option exercises under certain of its plans.</font></p>
<p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE 4: FAIR VALUE </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">MEASUREMENTS</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">As permitted by the </font><font style="font-family:Times New Roman;font-size:10pt;">authoritative </font><font style="font-family:Times New Roman;font-size:10pt;">guidance, DeVry has elected not to measure any assets or liabilities at fair value other than those required to be measured at fair value such as financial assets and liabilities required to be measured at fair value on a recurring basis and assets measured at fair value on a non-recurring basis such as goodwill and intangible assets. </font><font style="font-family:Times New Roman;font-size:10pt;">Management has fully considered all authoritative guidance when determining the fair value of DeVry's financial assets as of September 30, 2010.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants.  The guidance specifies a fair value hierarchy based upon the observability of inputs used in valuation techniques.  Observable inputs (highest level) reflect market data obtained from independent sources, while unobservable inputs (lowest level) reflect internally developed market assumptions.  The guidance establishes fair value measurement classifications under the following hierarchy:</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:36px;">Level 1</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">– </font><font style="font-family:Times New Roman;font-size:10pt;">Quoted prices for identical instruments in active markets.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:36px;">Level 2</font><font style="font-family:Times New Roman;font-size:10pt;">– Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs or significant value-drivers are observable in active markets.</font></p><p style='margin-top:4.5pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:36px;">Level 3</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;"> </font><font style="font-family:Times New Roman;font-size:10pt;">– Model-derived valuations in which one or more significant inputs or significant value-drivers are unobservable.</font></p><p style='margin-top:4.5pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">When available, DeVry uses quoted market prices to determine fair value, and such measurements are classified within Level 1.  In some cases where market prices are not available, DeVry makes use of observable market based inputs to calculate fair value, in which case the measurements are classified within Level 2.  If quoted or observable market prices are not available, fair value is based upon internally developed models that use, where possible, current market-based parameters such as interest rates and yield curves.  These measurements are classified within Level 3.</font></p><p style='margin-top:4.5pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">Fair value measurements are classified according to the lowest level input or value-driver that is significant to the valuation.  A measurement may therefore be classified within Level 3 even though there may be significant inputs that are readily observable.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">The following tables present DeVry's assets at </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;">, that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (dollars in thousands).</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 20px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 246px; text-align:left;border-color:#000000;min-width:246px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 13px; text-align:left;border-color:#000000;min-width:13px;"> </td><td style="width: 79px; text-align:center;border-color:#000000;min-width:79px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Level 1</font></td><td style="width: 9px; text-align:center;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Level 2</font></td><td style="width: 14px; text-align:center;border-color:#000000;min-width:14px;"> </td><td style="width: 93px; text-align:center;border-color:#000000;min-width:93px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Level 3</font></td></tr><tr style="height: 20px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 255px; text-align:left;border-color:#000000;min-width:255px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Cash and Cash Equivalents</font></td><td style="width: 13px; text-align:left;border-color:#000000;min-width:13px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 79px; text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 450,994</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td></tr><tr style="height: 20px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 255px; text-align:left;border-color:#000000;min-width:255px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Available for Sale Investments:</font></td><td style="width: 13px; text-align:left;border-color:#000000;min-width:13px;"> </td><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 246px; text-align:left;border-color:#000000;min-width:246px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Marketable Securities, short-term</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 13px; text-align:left;border-color:#000000;min-width:13px;"> </td><td style="width: 79px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,330</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 93px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td></tr><tr style="height: 21px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td colspan="2" style="width: 255px; text-align:left;border-color:#000000;min-width:255px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total Financial Assets at Fair Value</font></td><td style="width: 13px; text-align:left;border-color:#000000;min-width:13px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 79px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:79px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 453,324</font></td><td style="width: 9px; text-align:left;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 93px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Cash Equivalents and investments in short-term Marketable Securities are valued using a market approach based on the quoted market prices of identical instruments. </font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Below is a roll-forward of assets measured at fair value using Level 3 inputs for the three months ended </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;"> (dollars in thousands). </font><font style="font-family:Times New Roman;font-size:10pt;">All Level 3 investments were </font><font style="font-family:Times New Roman;font-size:10pt;">purchased </font><font style="font-family:Times New Roman;font-size:10pt;">by </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry's broker, </font><font style="font-family:Times New Roman;font-size:10pt;">UBS</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> in </font><font style="font-family:Times New Roman;font-size:10pt;">early </font><font style="font-family:Times New Roman;font-size:10pt;">July 2010. These i</font><font style="font-family:Times New Roman;font-size:10pt;">nvestments consist</font><font style="font-family:Times New Roman;font-size:10pt;">ed</font><font style="font-family:Times New Roman;font-size:10pt;"> of auction rate securities. </font><font style="font-family:Times New Roman;font-size:10pt;">These</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">securities were</font><font style="font-family:Times New Roman;font-size:10pt;"> valued using a discounted cash flow model using assumptions that, in management's judgment, reflect</font><font style="font-family:Times New Roman;font-size:10pt;">ed</font><font style="font-family:Times New Roman;font-size:10pt;"> the assumptions a mark</font><font style="font-family:Times New Roman;font-size:10pt;">etplace participant would have used. </font><font style="font-family:Times New Roman;font-size:10pt;">See “Note 2-Summary Of Significant Accounting Policies-</font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">Marketable Securities and Investments</font><font style="font-family:Times New Roman;font-size:10pt;">” for further information on these investments.</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td colspan="3" style="width: 130px; text-align:center;border-color:#000000;min-width:130px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Investments</font></td></tr><tr style="height: 17px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td colspan="2" style="width: 124px; text-align:center;border-color:#000000;min-width:124px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Three Months Ended</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 17px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"> </td><td colspan="2" style="width: 124px; text-align:center;border-color:#000000;min-width:124px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">September 30, 2010</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 466px; text-align:left;border-color:#000000;min-width:466px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Balance at Beginning of Period</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 115px; text-align:right;border-color:#000000;min-width:115px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 13,495</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 466px; text-align:left;border-color:#000000;min-width:466px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Total Unrealized Gains (Losses) Included in Income:</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 115px; text-align:right;border-color:#000000;min-width:115px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 17px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Change in Fair Value of ARS Portfolio</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 115px; text-align:right;border-color:#000000;min-width:115px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 17px"><td style="width: 5px; text-align:left;border-color:#000000;min-width:5px;"> </td><td style="width: 461px; text-align:left;border-color:#000000;min-width:461px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Change in Fair Value of UBS Put Right</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 115px; text-align:right;border-color:#000000;min-width:115px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 17px"><td colspan="2" style="width: 466px; text-align:left;border-color:#000000;min-width:466px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Purchases, Sales and Maturities</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 115px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:115px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (13,495)</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td></tr><tr style="height: 18px"><td colspan="2" style="width: 466px; text-align:left;border-color:#000000;min-width:466px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Balance at September 30, 2010</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 115px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:115px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td></tr></table></div>
<p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE 5: DIVIDENDS AND STOCK REPURCHASE PROGRAM</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">On </font><font style="font-family:Times New Roman;font-size:10pt;">May 18</font><font style="font-family:Times New Roman;font-size:10pt;">, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">, the DeVry Board of Directors declared a cash dividend of $0.10 per share. This dividend was paid on J</font><font style="font-family:Times New Roman;font-size:10pt;">uly</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">8</font><font style="font-family:Times New Roman;font-size:10pt;">, 2010, to common stockholders of record as of </font><font style="font-family:Times New Roman;font-size:10pt;">June</font><font style="font-family:Times New Roman;font-size:10pt;"> 1</font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;">, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">. The total dividend declared of $7.1 million was recorded as a reduction to retained earnings as of </font><font style="font-family:Times New Roman;font-size:10pt;">June</font><font style="font-family:Times New Roman;font-size:10pt;"> 3</font><font style="font-family:Times New Roman;font-size:10pt;">0</font><font style="font-family:Times New Roman;font-size:10pt;">, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">.</font><font style="font-family:Times New Roman;font-size:10pt;"> Future dividends will be at the discretion of the Board of Directors.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;"> On </font><font style="font-family:Times New Roman;font-size:10pt;">August</font><font style="font-family:Times New Roman;font-size:10pt;"> 11, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">, the DeVry Board of Directors authorized a </font><font style="font-family:Times New Roman;font-size:10pt;">fourth</font><font style="font-family:Times New Roman;font-size:10pt;"> share repurchase program, which will again allow DeVry to repurchase up to $50 million of its common stock through </font><font style="font-family:Times New Roman;font-size:10pt;">June 30, 2012</font><font style="font-family:Times New Roman;font-size:10pt;">. Under this plan as of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 3</font><font style="font-family:Times New Roman;font-size:10pt;">0</font><font style="font-family:Times New Roman;font-size:10pt;">, 2010, DeVry has repurchased, on the open market, </font><font style="font-family:Times New Roman;font-size:10pt;">266,216</font><font style="font-family:Times New Roman;font-size:10pt;"> shares of its common stock at a total cost of approximately $</font><font style="font-family:Times New Roman;font-size:10pt;">11.7</font><font style="font-family:Times New Roman;font-size:10pt;"> million. The timing and amount of any repurchase will be determined by management based on its evaluation of market conditions and other factors. These repurchases may be made through the open market, including block purchases, or in privately negotiated transactions, or otherwise. The buyback will be funded through available cash balances and/or borrowings, and may be suspended or discontinued at any time.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;"> DeVry completed its first share repurchase program in April 2008</font><font style="font-family:Times New Roman;font-size:10pt;">, repurchasing, on the open market, 908,399 shares of its common stock at a total cost of approximately $35.0 million</font><font style="font-family:Times New Roman;font-size:10pt;">. On May 13, 2008, the DeVry Board of Directors authorized a second share repurchase program, which allowed DeVry to repurchase up to $50 million of its common stock t</font><font style="font-family:Times New Roman;font-size:10pt;">hrough December 31, 2010. As of </font><font style="font-family:Times New Roman;font-size:10pt;">November 30, 2009, DeVry completed this share repurchase program, repurchasing, on the open market, 1,027,417 shares of its common stock at a total cost of approximately $50.0 million. </font><font style="font-family:Times New Roman;font-size:10pt;">On November 11, 2009, the DeVry Board of Directors authorized a third share repurchase program, which allowed DeVry to repurchase up to $50 million of its common stock through December 31, 201</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">. As of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">, DeVry completed this share repurchase program, repurchasing, on the open market, </font><font style="font-family:Times New Roman;font-size:10pt;">972,205</font><font style="font-family:Times New Roman;font-size:10pt;"> shares of its common stock at a total cost of approximately $50.0 million. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">Shares of stock repurchased under the programs are held as treasury shares. These repurchased shares have reduced the weighted average number of shares of common stock outstanding for basic and diluted earnings per share calculations.</font></p><p style='margin-top:0pt; margin-bottom:10pt'> </p>
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">6</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">:  INTANGIBLE ASSETS</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">Intangible assets relate mainly to acquired business operations. These assets consist of the acquisition fair value of certain identifiable intangible assets acquired and goodwill. Goodwill represents the excess of the purchase price over the fair value of assets acquired less liabilities assumed.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">Intangible assets consist of the following (dollars in thousands): </font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 212px; text-align:left;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td colspan="3" style="width: 185px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:185px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">As of September 30, 2010</font></td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 51px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 212px; text-align:left;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Gross Carrying Amount</font></td><td style="width: 12px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:93px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Accumulated Amortization</font></td><td style="width: 104px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Weighted Avg. Amortization Period</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Amortizable Intangible Assets:</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Student Relationships</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Calibri;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">64,841</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">(60,106)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">(1)</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Customer Contracts</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 7,000</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (4,163)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">6 years</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">License and Non-compete Agreements</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,684</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (2,684)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">6 years</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Class Materials</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,900</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (1,950)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">14 years</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Curriculum/Software</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 3,639</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (1,885)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">5 years</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Outplacement Relationships</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 3,900</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (529)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">15 years</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Trade Names</font></td><td style="width: 212px; text-align:left;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 8,305</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (5,021)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">(2)</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other</font></td><td style="width: 212px; text-align:left;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 639</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (639)</font></td><td style="width: 104px; text-align:center;border-color:#000000;min-width:104px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">6 years</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 18px"><td colspan="2" style="width: 136px; text-align:left;border-color:#000000;min-width:136px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total</font></td><td style="width: 212px; text-align:left;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">93,908</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 93px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">(76,977)</font></td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Indefinite-lived Intangible Assets:</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Trade Names</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">20,372</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Trademark</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,645</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Ross Title IV Eligibility and Accreditations</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 14,100</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Intellectual Property</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 13,940</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Chamberlain Title IV Eligibility and Accreditations</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,200</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Carrington Title IV Eligibility and Accreditations</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 112,300</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">DeVry Brasil Accreditations</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 13,410</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 18px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">176,967</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 18px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 212px; text-align:left;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:left;border-color:#000000;min-width:93px;"> </td><td style="width: 104px; text-align:left;border-color:#000000;min-width:104px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="8" style="width: 687px; text-align:left;border-color:#000000;min-width:687px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">(1) The respective Ross University, Chamberlain College of Nursing, and the Carrington Student Relationships</font></td></tr><tr style="height: 17px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="7" style="width: 623px; text-align:left;border-color:#000000;min-width:623px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> were fully amortized at December 31, 2009. The total weighted average estimated amortization period for</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="7" style="width: 623px; text-align:left;border-color:#000000;min-width:623px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Student Relationships is 5 years for DeVry Brasil.</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="7" style="width: 623px; text-align:left;border-color:#000000;min-width:623px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">(2) The Apollo College and Western Career College trade names were fully amortized at December 31, 2009.</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="8" style="width: 687px; text-align:left;border-color:#000000;min-width:687px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> The total weighted average estimated amortization period for Trade Names is 2 years and 8.5 years for Stalla</font></td></tr><tr style="height: 17px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="7" style="width: 623px; text-align:left;border-color:#000000;min-width:623px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> and DeVry Brasil (Fanor, Ruy Barbosa and AREA1), respectively.</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 212px; text-align:right;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td colspan="3" style="width: 185px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:185px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">As of September 30, 2009</font></td></tr><tr style="height: 52px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td style="width: 110px; text-align:left;border-color:#000000;min-width:110px;"> </td><td style="width: 212px; text-align:right;border-color:#000000;min-width:212px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:80px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Gross Carrying Amount</font></td><td style="width: 12px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:93px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Accumulated Amortization </font></td></tr><tr style="height: 17px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Amortizable Intangible Assets:</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:80px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Student Relationships </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 64,458</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (56,097)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Customer Contracts </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 7,000</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (2,708)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">License and Non-compete Agreements </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,684</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (2,684)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Class Materials </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,900</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (1,750)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Curriculum/Software </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 3,624</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (1,156)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Outplacement Relationships </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 3,900</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (269)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Trade Names </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 6,263</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (3,109)</font></td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Other </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 639</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (639)</font></td></tr><tr style="height: 18px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Total </font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 91,468</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 93px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:93px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> (68,412)</font></td></tr><tr style="height: 17px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Indefinite-lived Intangible Assets:</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:80px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; border-top-style:double;border-top-width:3px;text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Trade Names </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 22,272</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Trademark </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,645</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Ross Title IV Eligibility and Accreditations </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 14,100</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Intellectual Property </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 13,940</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Chamberlain Title IV Eligibility and Accreditations </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,200</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Carrington Title IV Eligibility and Accreditations </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 112,300</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 20px"><td style="width: 26px; text-align:left;border-color:#000000;min-width:26px;"> </td><td colspan="2" style="width: 322px; text-align:left;border-color:#000000;min-width:322px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">DeVry Brasil Accreditation</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 80px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 12,815</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr><tr style="height: 18px"><td colspan="3" style="width: 348px; text-align:left;border-color:#000000;min-width:348px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Total </font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 80px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:80px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 178,272</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 93px; text-align:right;border-color:#000000;min-width:93px;"> </td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">Amortization expense for amortized intangible assets was $</font><font style="font-family:Times New Roman;font-size:10pt;">1.5</font><font style="font-family:Times New Roman;font-size:10pt;"> million and $</font><font style="font-family:Times New Roman;font-size:10pt;">3.9</font><font style="font-family:Times New Roman;font-size:10pt;"> million for the </font><font style="font-family:Times New Roman;font-size:10pt;">three months ended </font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">September 30, </font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2010</font><font style="font-family:Times New Roman;font-size:10pt;"> and</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">2009,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">respectively</font><font style="font-family:Times New Roman;font-size:10pt;">. </font><font style="font-family:Times New Roman;font-size:10pt;">Estimated amortization expense for amortized intangible assets for the next five fiscal years ending</font><font style="font-family:Times New Roman;font-size:10pt;"> June 30,</font><font style="font-family:Times New Roman;font-size:10pt;"> by reporting unit, is as follows (dollars in thousands):</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 35px"><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Fiscal Year</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">Advanced Academics</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">Becker</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">DeVry Brasil</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">Carrington</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 59px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:59px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">Total</font></td></tr><tr style="height: 20px"><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2011</font></td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 68px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,806</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 68px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,110</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 68px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,492</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 420</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 59px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:59px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 5,828</font></td></tr><tr style="height: 20px"><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2012</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,538</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 160</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,091</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 420</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 59px; text-align:right;border-color:#000000;min-width:59px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 4,209</font></td></tr><tr style="height: 20px"><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2013</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 618</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 160</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,592</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 420</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 59px; text-align:right;border-color:#000000;min-width:59px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,790</font></td></tr><tr style="height: 20px"><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2014</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 369</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 160</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 678</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 295</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 59px; text-align:right;border-color:#000000;min-width:59px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,502</font></td></tr><tr style="height: 20px"><td style="width: 79px; text-align:left;border-color:#000000;min-width:79px;"> </td><td style="width: 74px; text-align:left;border-color:#000000;min-width:74px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2015</font></td><td style="width: 12px; text-align:right;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 160</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 68px; text-align:right;border-color:#000000;min-width:68px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 224</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 260</font></td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 59px; text-align:right;border-color:#000000;min-width:59px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 644</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">All amortizable intangible assets, except for the AAI Customer Contracts and DeVry Brasil Student Relationships, are being amortized on a straight-line basis.</font></p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:10.8px;">The amount being amortized for the AAI Customer Contracts is based on the estimated renewal probability of the contracts, giving consideration to the revenue and discounted cash flow associated with both types of customer relationships. This results in the basis being amortized at an annual rate for each of the years of estimated economic life as follows:</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"> </td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Direct to </font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Direct to </font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Fiscal Year</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Student</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">District</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2008</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">12%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">14%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2009</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">18%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">24%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2010</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">19%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">25%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2011</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">17%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">21%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2012</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">14%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">16%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2013</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">11%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">-</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2014</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">9%</font></td><td style="width: 110px; text-align:center;border-color:#000000;min-width:110px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">-</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">The amount being amortized for the DeVry Brasil Student Relationships is based on the estimated progression of the students through the respective programs, giving consideration to the revenue and cash flow associated with both existing students and new applicants. This results in the basis being amortized at an annual rate for each of the years of estimated economic life as follows:</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Fiscal Year</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2009</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">8.3%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2010</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">30.3%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2011</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">24.7%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2012</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">19.8%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2013</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">13.6%</font></td></tr><tr style="height: 17px"><td style="width: 222px; text-align:left;border-color:#000000;min-width:222px;"> </td><td style="width: 96px; text-align:left;border-color:#000000;min-width:96px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">2014</font></td><td style="width: 14px; text-align:left;border-color:#000000;min-width:14px;"> </td><td style="width: 64px; text-align:right;border-color:#000000;min-width:64px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">3.3%</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">Indefinite-lived intangible assets related to Trademarks, Trade Names, Title IV Eligibility, Accreditations and Intellectual Property are not amortized, as there are no legal, regulatory, contractual, economic or other factors that limit the useful life of these intangible assets to the reporting entity. Beginning in fiscal year 2010, the Trade Name associated with the Stalla CFA Review was reclassified to a finite lived intangible asset and is being amortized on a straight line basis over two years. This asset had a book value of $</font><font style="font-family:Times New Roman;font-size:10pt;">0.7</font><font style="font-family:Times New Roman;font-size:10pt;"> million as of </font><font style="font-family:Times New Roman;font-size:10pt;">September </font><font style="font-family:Times New Roman;font-size:10pt;">30, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">. </font><font style="font-family:Times New Roman;font-size:10pt;">As of the latest impairment analysis completed during the fourth quarter of fiscal year 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">, the asset's fair value exceeded this book value.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">Authoritative guidance provides that goodwill and indefinite-lived intangibles arising from a business combination are not amortized and charged to expense over time. Instead, goodwill and indefinite-lived intangibles must be reviewed annually for impairment or more frequently if circumstances arise indicating potential impairment. This impairment review was most recently completed during the fourth quarter of fiscal year 2010 at which time there was no impairment loss associated with recorded goodwill or indefinite-lived intangible assets, as estimated fair values </font><font style="font-family:Times New Roman;font-size:10pt;">exceeded </font><font style="font-family:Times New Roman;font-size:10pt;">the carrying amount.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">DeVry did not perform </font><font style="font-family:Times New Roman;font-size:10pt;">an </font><font style="font-family:Times New Roman;font-size:10pt;">interim impairment review during </font><font style="font-family:Times New Roman;font-size:10pt;">the first quarter of </font><font style="font-family:Times New Roman;font-size:10pt;">fiscal year 201</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;">, as</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">n</font><font style="font-family:Times New Roman;font-size:10pt;">o impairment indicators were noted through the period ended September 30, 2010.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">The estimated fair values of the reporting units and indefinite-lived intangible assets exceeded their carrying values by at least </font><font style="font-family:Times New Roman;font-size:10pt;">40</font><font style="font-family:Times New Roman;font-size:10pt;">% as of the end of fiscal year 2010 </font><font style="font-family:Times New Roman;font-size:10pt;">except those indefinite-lived intangible assets acquired with the acquisitions of Carrington and DeVry Brasil where fair values exceeded carrying values by at least 14%. </font><font style="font-family:Times New Roman;font-size:10pt;">The smaller premium for the newly acquired assets would be expected considering all have been acquired within twenty months of the fourth quarter fiscal year 2010 valuation date. </font><font style="font-family:Times New Roman;font-size:10pt;">M</font><font style="font-family:Times New Roman;font-size:10pt;">anagement did not believe business conditions had deteriorated in any of its reporting units to the extent that the fair values of the reporting units or </font><font style="font-family:Times New Roman;font-size:10pt;">indefinite-lived </font><font style="font-family:Times New Roman;font-size:10pt;">intangible assets would have differed materially from their fiscal year 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;"> fair values. In this regard, revenues grew for all reporting units</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">in the first quarter of fiscal year 2011</font><font style="font-family:Times New Roman;font-size:10pt;">except </font><font style="font-family:Times New Roman;font-size:10pt;">at </font><font style="font-family:Times New Roman;font-size:10pt;">Advanced Academics (AAI</font><font style="font-family:Times New Roman;font-size:10pt;">)</font><font style="font-family:Times New Roman;font-size:10pt;">.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">At A</font><font style="font-family:Times New Roman;font-size:10pt;">AI,</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">which carries a goodwill balance of $17.1 million, revenues declined slightly from the prior year</font><font style="font-family:Times New Roman;font-size:10pt;">.</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">The revenue decline at Advanced Academics was the result of lower summer school and fall enrollments as school districts have reduced such programs driven by state budget constraints. </font><font style="font-family:Times New Roman;font-size:10pt;">AAI also experienced a </font><font style="font-family:Times New Roman;font-size:10pt;">decline in operating profit </font><font style="font-family:Times New Roman;font-size:10pt;">which </font><font style="font-family:Times New Roman;font-size:10pt;">was the result </font><font style="font-family:Times New Roman;font-size:10pt;">of the decline in revenues and i</font><font style="font-family:Times New Roman;font-size:10pt;">ncreased investment to initiate programs designed to enhance future revenue growth. </font><font style="font-family:Times New Roman;font-size:10pt;">The fair value</font><font style="font-family:Times New Roman;font-size:10pt;"> of </font><font style="font-family:Times New Roman;font-size:10pt;">the AAI reporting unit</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">significantly </font><font style="font-family:Times New Roman;font-size:10pt;">exceeded </font><font style="font-family:Times New Roman;font-size:10pt;">its</font><font style="font-family:Times New Roman;font-size:10pt;"> carrying value as of the fiscal year 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;"> impairment analysis. Management believes the negative trends </font><font style="font-family:Times New Roman;font-size:10pt;">at </font><font style="font-family:Times New Roman;font-size:10pt;">AAI will be temporary and believes its planned business and operational strategies will reverse th</font><font style="font-family:Times New Roman;font-size:10pt;">is</font><font style="font-family:Times New Roman;font-size:10pt;"> negative trend in the foreseeable future. However, if operating improvements are not realized, all or some of the goodwill could be impaired in the future. </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;">The table below summarizes the goodwill balances by reporting unit as of September 30, 2010 (dollars in thousands):</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Reporting Unit</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:center;border-color:#000000;min-width:75px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">DeVry University</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 22,196</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Becker Professional Review</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 24,715</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Ross University</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 237,173</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Chamberlain College of Nursing</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 4,716</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Advanced Academics</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 17,074</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Carrington</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 185,717</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">DeVry Brasil</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 24,513</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total</font></td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 516,104</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 314px; text-align:left;border-color:#000000;min-width:314px;"> </td><td style="width: 33px; text-align:left;border-color:#000000;min-width:33px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr><tr style="height: 20px"><td colspan="7" style="width: 626px; text-align:left;border-color:#000000;min-width:626px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">The table below summarizes goodwill balances by reporting segment as of September 30, 2010 (dollars in thousands):</font></td><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Reporting Segment:</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 22,196</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 427,606</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 24,715</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Other Educational Services</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 41,587</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 516,104</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Total goodwill increased by $</font><font style="font-family:Times New Roman;font-size:10pt;">1.24</font><font style="font-family:Times New Roman;font-size:10pt;"> million from June 30, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">. This increase is the result of an increase in the value of the Brazilian Real as compared to the U.S. dollar. Since DeVry Brasil goodwill is recorded in the local Brazilian currency, fluctuations in its value in relation to the U.S. dollar will cause changes in the balance of this asset.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The table below summarizes the indefinite-lived intangible assets balances by reporting unit as of September 30, 2010 (dollars in thousands):</font></p><p style='margin-top:0pt; margin-bottom:10pt'> </p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Reporting Unit:</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">DeVry University</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,645</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Becker Professional Review</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 27,912</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Ross University</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 19,200</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Chamberlain College of Nursing</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,200</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Advanced Academics</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,300</font></td></tr><tr style="height: 17px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Carrington</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 112,300</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">DeVry Brasil</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 13,410</font></td></tr><tr style="height: 20px"><td style="width: 64px; text-align:left;border-color:#000000;min-width:64px;"> </td><td style="width: 349px; text-align:left;border-color:#000000;min-width:349px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 176,967</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The only change in the indefinite-lived intangible assets balances from June 30, 20</font><font style="font-family:Times New Roman;font-size:10pt;">10</font><font style="font-family:Times New Roman;font-size:10pt;">, resulted from the effects of foreign currency translation. Since DeVry Brasil intangible assets are recorded in the local Brazilian currency, fluctuations in the value of the Brazilian Real in relation to the U.S. dollar will cause changes in the balance of this asset.</font></p>
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">7</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">:  INCOME TAXES</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry's effective income tax rate reflects benefits derived from significant operations outside the United States. Earnings of these international operations are not subject to U.S. federal or state income taxes, so long as such earnings are not repatriated, as discussed below. Three of </font><font style="font-family:Times New Roman;font-size:10pt;">DeVry's</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">subsidiaries, Ross University School of Medicine (the Medical School) incorporated under the laws of the Commonwealth of Dominica, Ross University School of Veterinary Medicine (the Veterinary School) incorporated under the laws of the Federation of St. Christopher, Nevis, St. Kitts in the West </font><font style="font-family:Times New Roman;font-size:10pt;">I</font><font style="font-family:Times New Roman;font-size:10pt;">ndies, and DeVry Brasil incorporated under the laws of Brazil, all benefit from local tax incentives. The Medical and Veterinary Schools have agreements with the respective governments that exempt them from local income taxation through the years 2043 and 2023, respectively, while DeVry Brasil's effective tax rate reflects benefits derived from their participation in PROUNI, a Brazilian program for providing scholarships to a portion of its undergraduate students.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry has not recorded a U.S. federal or state tax provision for the undistributed earnings of its international subsidiaries. It is DeVry's intention to indefinitely reinvest accumulated cash balances, future cash flows and post-acquisition undistributed earnings and profits to improve the facilities and operations of its international Schools and pursue future opportunities outside the United States. In accordance with this plan, cash held by the international subsidiaries will not be available for general company purposes and under current laws will not be subject to U.S. taxation. As of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30 2010 and 2009, cumulative undistributed earnings attributable to international operations were approximately $</font><font style="font-family:Times New Roman;font-size:10pt;">280.4</font><font style="font-family:Times New Roman;font-size:10pt;"> million and $</font><font style="font-family:Times New Roman;font-size:10pt;">216.1</font><font style="font-family:Times New Roman;font-size:10pt;"> million, respectively.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The effective tax rate was </font><font style="font-family:Times New Roman;font-size:10pt;">34.5</font><font style="font-family:Times New Roman;font-size:10pt;">% for </font><font style="font-family:Times New Roman;font-size:10pt;">the first quarter of fiscal year 2011</font><font style="font-family:Times New Roman;font-size:10pt;">, compared to 3</font><font style="font-family:Times New Roman;font-size:10pt;">2</font><font style="font-family:Times New Roman;font-size:10pt;">.</font><font style="font-family:Times New Roman;font-size:10pt;">0</font><font style="font-family:Times New Roman;font-size:10pt;">% for the prior year. The higher effective income tax rate in fiscal year </font><font style="font-family:Times New Roman;font-size:10pt;">201</font><font style="font-family:Times New Roman;font-size:10pt;">1</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">was primarily due to an increase in the proportion of income generated by U.S. operations versus the offshore operations of Ross University as compared to the prior year. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">As of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;">,</font><font style="font-family:Times New Roman;font-size:10pt;"> the total amount of gross unrecognized tax benefits for uncertain tax positions, including positions impacting only the timing of tax benefits, was $</font><font style="font-family:Times New Roman;font-size:10pt;">5.8</font><font style="font-family:Times New Roman;font-size:10pt;"> million. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was $</font><font style="font-family:Times New Roman;font-size:10pt;">5.8</font><font style="font-family:Times New Roman;font-size:10pt;"> million. As of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2009, gross unrecognized tax benefits, including positions impacting only the timing of benefits, was $</font><font style="font-family:Times New Roman;font-size:10pt;">2.3</font><font style="font-family:Times New Roman;font-size:10pt;"> million. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate </font><font style="font-family:Times New Roman;font-size:10pt;">wa</font><font style="font-family:Times New Roman;font-size:10pt;">s $</font><font style="font-family:Times New Roman;font-size:10pt;">1.9</font><font style="font-family:Times New Roman;font-size:10pt;"> million. We expect that our unrecognized tax benefits will </font><font style="font-family:Times New Roman;font-size:10pt;">increase</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">by an insignificant amount during the next twelve months. DeVry classifies interest and penalties on tax uncertainties as a component of the provision for income taxes. The total amount of interest and penalties accrued </font><font style="font-family:Times New Roman;font-size:10pt;">at </font><font style="font-family:Times New Roman;font-size:10pt;">June</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">3</font><font style="font-family:Times New Roman;font-size:10pt;">0</font><font style="font-family:Times New Roman;font-size:10pt;">, 2010 was $0.7 million. </font><font style="font-family:Times New Roman;font-size:10pt;">The corresponding amount at September 30, 2010 was not materially different from the amount at June 30, 2010.</font><font style="font-family:Times New Roman;font-size:10pt;">.</font></p>
<div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">NOTE 8:  DEBT</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; text-align:left;border-color:#000000;min-width:85px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; text-align:left;border-color:#000000;min-width:81px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; text-align:left;border-color:#000000;min-width:87px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; text-align:left;border-color:#000000;min-width:89px;"> </td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; text-align:left;border-color:#000000;min-width:85px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; text-align:left;border-color:#000000;min-width:81px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; text-align:left;border-color:#000000;min-width:87px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; text-align:left;border-color:#000000;min-width:89px;"> </td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td colspan="13" style="width: 806px; text-align:left;border-color:#000000;min-width:806px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">Debt consists of the following at September 30, 2010, June 30, 2010 and September 30, 2009 (dollars in thousands):</font></td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; text-align:left;border-color:#000000;min-width:85px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; text-align:left;border-color:#000000;min-width:81px;"> </td><td style="width: 6px; text-align:left;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; text-align:left;border-color:#000000;min-width:87px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; text-align:center;border-color:#000000;min-width:89px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Average</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td colspan="7" style="width: 283px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:283px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Outstanding Debt</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; text-align:center;border-color:#000000;min-width:89px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">Interest Rate</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:85px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">September 30,</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:81px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">June 30,</font></td><td style="width: 6px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; border-top-style:solid;border-top-width:1px;text-align:center;border-color:#000000;min-width:87px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">September 30,</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; text-align:center;border-color:#000000;min-width:89px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">September 30,</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Revolving Credit Facility:</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:85px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:81px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 6px; text-align:center;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:87px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2009</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-bottom-style:solid;border-bottom-width:1px;text-align:center;border-color:#000000;min-width:89px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> DeVry Inc. as borrower </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 85px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 81px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 87px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 60,000</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> GEI as borrower </font><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total </font><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 85px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 81px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 87px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 60,000</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-top-style:solid;border-top-width:1px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Auction Rate Securities Collateralized Line of Credit:</font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 85px; text-align:right;border-color:#000000;min-width:85px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 81px; text-align:right;border-color:#000000;min-width:81px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"> </td><td style="width: 87px; text-align:right;border-color:#000000;min-width:87px;"> </td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; text-align:right;border-color:#000000;min-width:89px;"> </td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> DeVry Inc. as borrower </font><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 85px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 81px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 87px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 44,841</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total Outstanding Debt </font><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 85px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 81px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 87px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 104,841</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 17px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Current Maturities of Debt </font><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 85px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 81px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 87px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 104,841</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr><tr style="height: 18px"><td style="width: 342px; text-align:left;border-color:#000000;min-width:342px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Total Long-term Debt </font><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> </font></td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 85px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:85px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 81px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:81px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 9px; text-align:right;border-color:#000000;min-width:9px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 87px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:87px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 6px; text-align:right;border-color:#000000;min-width:6px;"> </td><td style="width: 89px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:89px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 13px; text-align:right;border-color:#000000;min-width:13px;"> </td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:0px;">Revolving Credit Facility</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9px;">All of DeVry's borrowings and letters of credit under its $175 million revolving credit facility are through DeVry Inc. and Global Education International, Inc. (“GEI”), an international subsidiary. The revolving credit facility became effective on May 16, 2003, and was amended as of September 30, 2005 and again on January 11, 2007. DeVry Inc. aggregate commitments including borrowings and letters of credit under this agreement </font><font style="font-family:Times New Roman;font-size:10pt;">cannot</font><font style="font-family:Times New Roman;font-size:10pt;"> exceed $175.0 million, and GEI aggregate commitments cannot exceed $50.0 million. At the request of DeVry, the maximum borrowings and letters of credit can be increased to $275.0 million in total with GEI aggregate commitments not to exceed $50.0 million. There are no required payments under this revolving credit agreement and all borrowings and letters of credit mature on January 11, 2012. As a result of the agreement extending beyond one year, any borrowings would be classified as long-term with the exception of amounts expected to be repaid in the 12 months subsequent to the balance sheet date. DeVry Inc. letters of credit outstanding under this agreement were $4.</font><font style="font-family:Times New Roman;font-size:10pt;">5</font><font style="font-family:Times New Roman;font-size:10pt;"> million and $</font><font style="font-family:Times New Roman;font-size:10pt;">15.2</font><font style="font-family:Times New Roman;font-size:10pt;"> million as of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2010 and 2009, respectively. As of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2010, </font><font style="font-family:Times New Roman;font-size:10pt;">had there been</font><font style="font-family:Times New Roman;font-size:10pt;"> outstanding borrowings under this agreement they would </font><font style="font-family:Times New Roman;font-size:10pt;">have borne </font><font style="font-family:Times New Roman;font-size:10pt;">interest, payable quarterly or upon expiration of the interest rate period, at the prime rate or at a LIBOR rate plus 0.50%, at the option of DeVry. Outstanding letters of credit under the revolving credit agreement are charged an annual fee equal to 0.50% of the undrawn face amount of the letter of credit, payable quarterly. The agreement also requires payment of a commitment fee equal to 0.1% of the undrawn portion of the credit facility. The interest rate, letter of credit fees and commitment fees are adjustable quarterly, based upon DeVry's achievement of certain financial ratios. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">The revolving credit agreement contains certain covenants that, among other things, require maintenance of certain financial ratios, as defined in the agreement. These financial ratios include a consolidated fixed charge coverage ratio, a consolidated leverage ratio and a composite Equity, Primary Reserve and Net Income, Department of Education, financial responsibility ratio (“DOE Ratio”). Failure to maintain any of these ratios or to comply with other covenants contained in the agreement will constitute an event of default and could result in termination of the agreement and require payment of all outstanding borrowings. DeVry was in compliance with all debt covenants as of </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2010. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">The stock of certain subsidiaries of DeVry is pledged as collateral for the borrowings under the revolving credit facility. </font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;font-style:italic;text-decoration:underline;margin-left:0px;">Auction Rate Securities Collateralized Line of Credit</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:0px;">       In connection with the completion of the acquisition of Carrington, on September 18, 2008, DeVry borrowed approximately $46 million against its portfolio of auction rate securities under a temporary, uncommitted, demand revolving line of credit facility between DeVry Inc. and UBS Bank USA (the “Lender”). This borrowing totaled approximately 80% of the fair market value on September 18, 2008, of DeVry's auction rate securities portfolio held through its broker, UBS, which </font><font style="font-family:Times New Roman;font-size:10pt;">was </font><font style="font-family:Times New Roman;font-size:10pt;">the maximum borrowing permitted under this credit facility. These borrowing</font><font style="font-family:Times New Roman;font-size:10pt;">s</font><font style="font-family:Times New Roman;font-size:10pt;"> were fully repaid as of June 30, 2010, and the lending agreement was terminated.</font></p>
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">9</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">:</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;"> COMMITMENTS AND CONTINGENCIES</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry is subject to occasional lawsuits, administrative proceedings, regulatory reviews and investigations associated with financial assistance programs and other claims arising in the normal conduct of its business. </font><font style="font-family:Times New Roman;font-size:10pt;">The following is a description of pending litigation that may be considered other than ordinary and routine litigation that is incidental to the business.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:10pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The Boca Raton Firefighters' and Police Pension Fund filed a complaint in the United States District Court for the Northern District of Illinois on November 1, 2010. The complaint was filed on behalf of a putative class of persons who purchased DeVry common stock between October 25, 2007, and August 13, 2010. The plaintiffs claim DeVry, Daniel Hamburger, Richard M. Gunst and David J. Pauldine violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated there under by failing to disclose abusive and fraudulent recruiting and financial aid lending practices, thereby increasing DeVry's student enrollment and revenues and artificially inflating DeVry's stock price during the class period. The lawsuit has not been served.  DeVry and its executives believe the allegations contained in the complaint are without merit and intends to defend them vigorously. </font></p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The ultimate outcome of pending litigation and other proceedings, reviews, investigations and contingencies is difficult to estimate. At this time, DeVry does not expect that the outcome of any such matter will have a material effect on its cash flows, results of operations or financial </font><font style="font-family:Times New Roman;font-size:10pt;">position.</font></p>
<p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0px;">NOTE </font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">10</font><font style="font-family:Times New Roman;font-size:10pt;font-weight:bold;">:  SEGMENT INFORMATION</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">DeVry's principal business is providing secondary and post-secondary education. The services of our operations are described in more detail in “Note 1- Nature of Operations</font><font style="font-family:Times New Roman;font-size:10pt;">”</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">to the consolidated financial statements contained in its Annual Report on Form 10-K for the fiscal year ended June 30, 2010. </font><font style="font-family:Times New Roman;font-size:10pt;"> DeVry presents four reportable segments: “Business, Technology and Management”, which includes DeVry University undergraduate and graduate operations; “Professional Education”, which includes the professional exam review and training operations of Becker CPA Review and Stalla Review for the CFA Exams; “Medical and Healthcare” which includes the operations of Ross University medical and veterinary schools, Chamberlain College of Nursing and Carrington; and “Other Educational” which includes the DeVry Brasil and AAI operations.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">These segments are consistent with the method by which the Chief Operating Decision Maker (DeVry's President and CEO) evaluates performance and allocates resources. Such decisions are based, in part, on each segment's operating income, which is defined as income before interest income and expense, amortization, minority interest and income taxes. Intersegment sales are accounted for at amounts comparable to sales to nonaffiliated customers and are eliminated in consolidation. The accounting policies of the segments are the same as those described in “Note 2 — Summary of Significant Accounting Policie</font><font style="font-family:Times New Roman;font-size:10pt;">s”</font><font style="font-family:Times New Roman;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:10pt;">to the consolidated financial statements contained in its Annual Report on Form 10-K for the fiscal year ended June 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;">.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">The consistent measure of segment operating income excludes interest income and expense, amortization and certain corporate-related depreciation and expenses. As such, these items are reconciling items in arriving at income before income taxes. The consistent measure of segment assets excludes deferred income tax assets and certain depreciable corporate assets. Additions to long-lived assets have been measured in this same manner. Reconciling items are included as corporate assets.</font></p><p style='margin-top:0pt; margin-bottom:0pt'> </p><p style='margin-top:0pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:9.35px;">Following is a tabulation of business segment information based on the current segmentation for each of the </font><font style="font-family:Times New Roman;font-size:10pt;">three months </font><font style="font-family:Times New Roman;font-size:10pt;">ended </font><font style="font-family:Times New Roman;font-size:10pt;">September</font><font style="font-family:Times New Roman;font-size:10pt;"> 30, 2010</font><font style="font-family:Times New Roman;font-size:10pt;"> and</font><font style="font-family:Times New Roman;font-size:10pt;"> 2009. Corporate information is included where it is needed to reconcile segment data to the consolidated financial statements</font><font style="font-family:Times New Roman;font-size:10pt;"> (dollars in thousands)</font><font style="font-family:Times New Roman;font-size:10pt;">.</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 39px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"> </td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td colspan="4" style="width: 183px; border-bottom-style:solid;border-bottom-width:2px;text-align:center;border-color:#000000;min-width:183px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">For the Three Months Ended September 30,</font></td></tr><tr style="height: 20px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Revenues:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:78px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 12px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:78px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2009</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 352,918</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 283,506</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 136,658</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 117,158</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 19,970</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 19,161</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other Educational Services</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 11,882</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 11,285</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Revenues</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 521,428</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 431,110</font></td></tr><tr style="height: 20px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Operating Income:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 84,519</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 56,079</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 28,162</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 27,139</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 6,379</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 6,444</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other Educational Services</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (7,522)</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (6,522)</font></td></tr><tr style="height: 20px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Reconciling Items:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Amortization Expense</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (1,475)</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (3,914)</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Depreciation and Other</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,752</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 159</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Operating Income</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 111,815</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 79,385</font></td></tr><tr style="height: 20px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Interest and Other Income (Expense):</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Interest Income</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 423</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 500</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Interest Expense</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (254)</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> (422)</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Net Investment Gain</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 831</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td colspan="2" style="width: 303px; text-align:left;border-color:#000000;min-width:303px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Net Interest and Other Income (Expense)</font></td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 169</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 909</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td colspan="2" style="width: 303px; text-align:left;border-color:#000000;min-width:303px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Income Before Income Taxes</font></td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 111,984</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 80,294</font></td></tr><tr style="height: 17px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Segment Assets:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 525,685</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 516,718</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 990,404</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 904,256</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 90,901</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 67,362</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other Educational Services</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 123,756</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 116,719</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Corporate</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 92,159</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 23,423</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Assets</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,822,905</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,628,478</font></td></tr><tr style="height: 17px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Additions to Long-lived Assets:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 4,561</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 16,639</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 5,305</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 7,245</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 973</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 17</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other Educational Services</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,723</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,581</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Corporate</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 10,448</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> -</font></td></tr><tr style="height: 20px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td colspan="2" style="width: 303px; text-align:left;border-color:#000000;min-width:303px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Additions to Long-lived Assets</font></td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 23,010</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 26,482</font></td></tr><tr style="height: 17px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Depreciation Expense:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 6,270</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 7,844</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 4,035</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 3,314</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 33</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 57</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other Educational Services</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 878</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 604</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Corporate</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 2,505</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 174</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Depreciation</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 13,721</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 11,993</font></td></tr><tr style="height: 17px"><td colspan="2" style="width: 259px; text-align:left;border-color:#000000;min-width:259px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Intangible Asset Amortization Expense:</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-top-style:solid;border-top-width:1px;text-align:left;border-color:#000000;min-width:78px;"> </td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Business, Technology and Management</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> -</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Medical and Healthcare</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 105</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:left;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 2,425</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Professional Education</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 287</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 287</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other Educational Services</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,083</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"> </td><td style="width: 78px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;"> 1,202</font></td></tr><tr style="height: 17px"><td style="width: 19px; text-align:left;border-color:#000000;min-width:19px;"> </td><td style="width: 240px; text-align:left;border-color:#000000;min-width:240px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total Consolidated Amortization</font></td><td style="width: 63px; text-align:left;border-color:#000000;min-width:63px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,475</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:center;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">$</font></td><td style="width: 78px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:78px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 3,914</font></td></tr></table></div><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><p style='margin-top:12pt; margin-bottom:0pt'><font style="font-family:Times New Roman;font-size:10pt;margin-left:11px;">DeVry conducts its educational operations in the </font><font style="font-family:Times New Roman;font-size:10pt;">United States</font><font style="font-family:Times New Roman;font-size:10pt;">, </font><font style="font-family:Times New Roman;font-size:10pt;">Canada</font><font style="font-family:Times New Roman;font-size:10pt;">, the Caribbean countries of </font><font style="font-family:Times New Roman;font-size:10pt;">Dominica</font><font style="font-family:Times New Roman;font-size:10pt;"> and St. Kitts/Nevis, Brazil, Europe, the Middle East and the Pacific Rim. Other international revenues, which are derived principally from Brazil and Canada, were less than 5% of total revenues for the quarters ended September 30, 2010 and 2009. Revenues and long-lived assets by geographic area are as follows</font><font style="font-family:Times New Roman;font-size:10pt;"> (dollars in thousands)</font><font style="font-family:Times New Roman;font-size:10pt;">:</font></p><p style='margin-top: 0pt; margin-bottom: 0pt;'></p><div><table style="border-collapse:collapse;margin-top:20px;"><tr style="height: 34px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td colspan="5" style="width: 189px; border-bottom-style:solid;border-bottom-width:2px;text-align:center;border-color:#000000;min-width:189px;"><font style="FONT-WEIGHT: bold;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">For the Three Months Ended September 30,</font></td></tr><tr style="height: 20px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:75px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2010</font></td><td style="width: 12px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; border-top-style:solid;border-top-width:2px;text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:2px;text-align:center;border-color:#000000;min-width:75px;"><font style="FONT-WEIGHT: bold;TEXT-DECORATION: underline;FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: center;">2009</font></td><td style="width: 12px; border-top-style:solid;border-top-width:2px;text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 20px"><td colspan="3" style="width: 326px; text-align:left;border-color:#000000;min-width:326px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Revenue from Unaffiliated Customers:</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:center;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:center;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:center;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 20px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td colspan="2" style="width: 310px; text-align:left;border-color:#000000;min-width:310px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Domestic Operations</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 461,496</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 377,021</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 20px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td colspan="2" style="width: 310px; text-align:left;border-color:#000000;min-width:310px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">International Operations:</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Dominica and St. Kitts/Nevis</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 48,288</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 43,443</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 11,644</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 10,646</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total International</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 59,932</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 54,089</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 21px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td colspan="2" style="width: 310px; text-align:left;border-color:#000000;min-width:310px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Consolidated</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 521,428</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 431,110</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 18px"><td colspan="3" style="width: 326px; text-align:left;border-color:#000000;min-width:326px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Long-lived Assets:</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 20px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td colspan="2" style="width: 310px; text-align:left;border-color:#000000;min-width:310px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Domestic Operations</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 738,948</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 674,179</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 20px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td colspan="2" style="width: 310px; text-align:left;border-color:#000000;min-width:310px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">International Operations:</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Dominica and St. Kitts/Nevis</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 333,824</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 327,724</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Other</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 69,358</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 65,374</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> Total International</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 403,182</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:solid;border-bottom-width:1px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 393,098</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 21px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td colspan="2" style="width: 310px; text-align:left;border-color:#000000;min-width:310px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;">Consolidated</font></td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,142,130</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: right;">$</font></td><td style="width: 75px; border-top-style:solid;border-top-width:1px;border-bottom-style:double;border-bottom-width:3px;text-align:right;border-color:#000000;min-width:75px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;"> 1,067,277</font></td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 18px"><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 16px; text-align:left;border-color:#000000;min-width:16px;"> </td><td style="width: 294px; text-align:left;border-color:#000000;min-width:294px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td><td style="width: 15px; text-align:right;border-color:#000000;min-width:15px;"> </td><td style="width: 75px; border-top-style:double;border-top-width:3px;text-align:left;border-color:#000000;min-width:75px;"> </td><td style="width: 12px; text-align:left;border-color:#000000;min-width:12px;"> </td></tr><tr style="height: 17px"><td colspan="9" style="width: 530px; text-align:left;border-color:#000000;min-width:530px;"><font style="FONT-FAMILY: Times New Roman;FONT-SIZE: 10pt;COLOR: #000000;TEXT-ALIGN: left;">No one customer accounted for more than 10% of DeVry's consolidated revenues.</font></td></tr></table></div>