Acquisitions (Tables) - Walden University, LLC [Member]

3 Months Ended

Sep. 30, 2021

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of acquisition (in thousands):

	August 12,
	2021
Assets acquired:
Cash and cash equivalents	$	65,010
Restricted cash		18,389
Accounts receivable, net		22,091
Prepaid expenses and other current assets		8,819
Property and equipment, net		25,882
Operating lease assets		6,096
Intangible assets		833,351
Goodwill		642,554
Other assets		21,316
Total assets acquired		1,643,508
Liabilities assumed:
Accounts payable		31,971
Accrued payroll and benefits		24,376
Accrued liabilities		591
Deferred revenue		10,958
Current operating lease liabilities		1,983
Long-term operating lease liabilities		4,343
Other liabilities		4,098
Total liabilities assumed		78,320
Net assets acquired	$	1,565,188

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The preliminary values and estimated useful lives of other intangible assets acquired are as follows (in thousands):

	August 12, 2021
	Value		Estimated
	Assigned		Useful Life
Student relationships	$	161,900	3 years
Curriculum	$	56,091	5 years

Schedule of pro forma financial information

The following unaudited pro forma financial information summarizes our results of operations as though the acquisition occurred on July 1, 2020 (in thousands):

	Three Months Ended
	September 30,
	2021		2020
Revenue	$	417,566	$	435,601
Net loss attributable to Adtalem	$	(14,693)	$	(23,411)