DISCONTINUED OPERATIONS

9 Months Ended

Mar. 31, 2015

DISCONTINUED OPERATIONS

NOTE 3:   DISCONTINUED OPERATIONS

In December 2013, the assets of DeVry Group’s Advanced Academics Inc. (“AAI”) subsidiary, which had previously been disclosed as “held for sale” were divested. These assets were sold for $2.0 million, which approximated the recorded net book value of the assets on the date of sale.

The operating results of AAI are separately disclosed in the Consolidated Statements of Income as “Discontinued Operations – Income (Loss) from Operations of Divested Component”. The following is a summary of operating results of the discontinued operations for the three and nine months ended March 31, 2015 and 2014 (in thousands). The reported Income from Operations of Divested Component in the third quarter and first nine months of fiscal year 2015 is comprised of $1.0 million in pre-tax income from the net settlement of service agreements and an adjustment of $5.0 million related to correction of an error to properly record the income tax benefit on the impairment charge taken in the first quarter of fiscal year 2014.

	For the Three Months Ended March 31,				For the Nine Months Ended March 31,
	2015		2014		2015		2014
Income (Loss) from Operations of Divested Component	$	1,011	$	(904)	$	1,011	$	(4,463)
Asset Impairment Charge and Gain on Sale		-		-		-		(13,477)
Restructuring Expense		-		(30)		-		(705)
Income Tax Benefit		4,565		327		4,565		1,790
Income (Loss) from Discontinued Operations, Net of Income Taxes	$	5,576	$	(607)	$	5,576	$	(16,855)