Discontinued Operations and Assets Held for Sale (Tables)

9 Months Ended

Mar. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

Balance Sheet and Income Statement Information of Discontinued Operations

The following is a summary of balance sheet information of assets and liabilities reported as held for sale as of March 31, 2020, which includes only Adtalem Brazil balances as Carrington and DeVry University were sold prior to that date (in thousands):

	March 31,
	2020
Assets:
Current assets:
Cash and cash equivalents	$	83,961
Accounts receivable, net		52,507
Prepaid expenses and other current assets		5,949
Total current assets held for sale		142,417
Noncurrent assets:
Property and equipment, net		57,610
Operating lease assets		54,092
Deferred income taxes		4,144
Intangible assets, net		88,403
Goodwill		138,914
Other assets, net		9,542
Total noncurrent assets held for sale		352,705
Total assets held for sale	$	495,122
Liabilities:
Current liabilities:
Accounts payable	$	2,378
Accrued payroll and benefits		10,671
Accrued liabilities		4,891
Deferred revenue		8,688
Current operating lease liabilities		8,322
Total current liabilities held for sale		34,950
Noncurrent liabilities:
Long-term operating lease liabilities		46,747
Deferred income taxes		3,046
Other liabilities		12,194
Total noncurrent liabilities held for sale		61,987
Total liabilities held for sale	$	96,937

The following is a summary of income statement information of operations reported as discontinued operations, which includes Adtalem Brazil’s, Carrington’s, and DeVry University’s operations through the date of each respective sale (in thousands):

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2021		2020		2021		2020
Revenue	$	—	$	41,355	$	—	$	142,160
Operating cost and expense:
Cost of educational services		—		28,940		—		98,605
Student services and administrative expense		6,836		17,781		28,107		47,860
Restructuring expense		—		199		—		625
Total operating cost and expense		6,836		46,920		28,107		147,090
Operating loss		(6,836)		(5,565)		(28,107)		(4,930)
Other income (expense):
Interest and dividend income		—		425		—		2,164
Interest expense		—		(807)		—		(2,770)
Net other expense		—		(382)		—		(606)
Loss from discontinued operations before income taxes		(6,836)		(5,947)		(28,107)		(5,536)
Benefit from income taxes		1,679		3,228		6,904		3,778
Net loss from discontinued operations attributable to Adtalem	$	(5,157)	$	(2,719)	$	(21,203)	$	(1,758)