Adtalem Global Education (ATGE) 10-Q30 Jan 252025 Q2 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Dec. 31, 2024	Jan. 24, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Securities Act File Number	001-13988
Entity Registrant Name	Adtalem Global Education Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3150143
Entity Address, Address Line One	500 West Monroe Street
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60661
City Area Code	312
Local Phone Number	651-1400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		37,264,816
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2025
Entity Central Index Key	0000730464
Document Fiscal Period Focus	Q2
Amendment Flag	false
NEW YORK STOCK EXCHANGE, INC.
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	ATGE
Security Exchange Name	NYSE
NYSE CHICAGO, INC
Document Information [Line Items]
Title of 12(b) Security	Common stock, $0.01 par value per share
Trading Symbol	ATGE
Security Exchange Name	CHX

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Current assets:
Cash and cash equivalents	$ 193,958	$ 219,306
Restricted cash	1,461	1,896
Accounts and financing receivables, net	146,973	126,833
Prepaid expenses and other current assets	64,693	70,050
Total current assets	407,085	418,085
Noncurrent assets:
Property and equipment, net	245,878	248,524
Operating lease assets	188,800	176,755
Deferred income taxes	28,413	49,088
Intangible assets, net	771,084	776,694
Goodwill	961,262	961,262
Other assets, net	112,608	103,184
Assets held for sale	7,825	7,825
Total noncurrent assets	2,315,870	2,323,332
Total assets	2,722,955	2,741,417
Current liabilities:
Accounts payable	66,920	102,626
Accrued payroll and benefits	50,999	71,373
Accrued liabilities	62,479	96,957
Deferred revenue	171,523	185,272
Current operating lease liabilities	32,633	31,429
Total current liabilities	384,554	487,657
Noncurrent liabilities:
Long-term debt	649,924	648,712
Long-term operating lease liabilities	182,051	167,712
Deferred income taxes	32,367	29,526
Other liabilities	35,149	38,675
Total noncurrent liabilities	899,491	884,625
Total liabilities	1,284,045	1,372,282
Commitments and contingencies
Shareholders' equity:
Common stock, $0.01 par value per share, 200,000 shares authorized; 37,289 and 37,681 shares outstanding as of December 31, 2024 and June 30, 2024, respectively	839	832
Additional paid-in capital	642,975	611,949
Retained earnings	2,662,530	2,540,509
Accumulated other comprehensive loss	(2,227)	(2,227)
Treasury stock, at cost, 46,597 and 45,513 shares as of December 31, 2024 and June 30, 2024, respectively	(1,865,207)	(1,781,928)
Total shareholders' equity	1,438,910	1,369,135
Total liabilities and shareholders' equity	$ 2,722,955	$ 2,741,417

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 2024	Jun. 30, 2024
Statement of Financial Position [Abstract]
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	200,000	200,000
Common Stock, Shares Outstanding	37,289	37,681
Treasury Stock, Shares	46,597	45,513

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue	$ 447,729	$ 393,242	$ 865,129	$ 762,087
Operating cost and expense:
Cost of educational services	186,636	172,069	372,631	340,687
Student services and administrative expense	156,901	155,584	315,974	321,679
Restructuring expense	322	68	2,416	744
Business integration expense		6,909	0	12,171
Total operating cost and expense	343,859	334,630	691,021	675,281
Operating income	103,870	58,612	174,108	86,806
Other income (expense):
Interest expense	(13,909)	(16,693)	(28,391)	(32,350)
Other income, net	2,235	3,563	4,881	5,777
Income from continuing operations before income taxes	92,196	45,482	150,598	60,233
Provision for income taxes	(21,020)	(7,769)	(33,177)	(10,561)
Income from continuing operations	71,176	37,713	117,421	49,672
Discontinued operations:
Income from discontinued operations before income taxes	6,271	2,926	6,164	1,161
Provision for income taxes	(1,591)	(748)	(1,564)	(296)
Income from discontinued operations	4,680	2,178	4,600	865
Net income and comprehensive income	$ 75,856	$ 39,891	$ 122,021	$ 50,537
Basic:
Continuing operations (In dollars per share)	$ 1.9	$ 0.95	$ 3.12	$ 1.22
Discontinued operations (In dollars per share)	0.13	0.05	0.12	0.02
Total basic earnings per share (In dollar per share)	2.03	1	3.25	1.24
Diluted:
Continuing operations (In dollars per share)	1.85	0.92	3.03	1.2
Discontinued operations (In dollars per share)	0.12	0.05	0.12	0.02
Total diluted earnings per share (In dollars per share)	$ 1.98	$ 0.98	$ 3.15	$ 1.22
Weighted-average shares outstanding:
Basic shares (In shares)	37,435	39,872	37,578	40,636
Diluted shares (In shares)	38,401	40,787	38,755	41,486

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Operating activities:
Net income	$ 122,021	$ 50,537
Income from discontinued operations	(4,600)	(865)
Income from continuing operations	117,421	49,672
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	20,918	13,505
Amortization and impairments to operating lease assets	14,092	17,340
Depreciation	19,993	19,381
Amortization of acquired intangible assets	5,610	20,010
Amortization of debt discount and issuance costs	2,226	2,310
Provision for bad debts	28,719	23,024
Deferred income taxes	23,516	(343)
Loss on disposals of property and equipment	114	38
Gain on investments	(442)	(575)
Unrealized loss on assets held for sale		647
Changes in assets and liabilities:
Accounts and financing receivables	(46,493)	(52,716)
Prepaid expenses and other current assets	6,829	(2,143)
Cloud computing implementation assets	(14,071)	(11,314)
Accounts payable	(34,588)	9,755
Accrued payroll and benefits	(20,311)	(6,073)
Accrued liabilities	(29,066)	25,130
Deferred revenue	(12,028)	(13,540)
Operating lease liabilities	(10,594)	(20,441)
Other assets and liabilities	(5,888)	(1,314)
Net cash provided by operating activities-continuing operations	65,957	72,353
Net cash provided by operating activities-discontinued operations	4,340	9,515
Net cash provided by operating activities	70,297	81,868
Investing activities:
Capital expenditures	(21,094)	(19,612)
Proceeds from sales of marketable securities	2,426	626
Purchases of marketable securities	(1,548)	(498)
Net cash used in investing activities	(20,216)	(19,484)
Financing activities:
Proceeds from exercise of stock options	9,833	15,313
Employee taxes paid on withholding shares	(12,198)	(6,505)
Proceeds from stock issued under Colleague Stock Purchase Plan	567	359
Repurchases of common stock for treasury	(74,066)	(160,549)
Proceeds from issuance of long-term debt	9,873
Repayments of long-term debt	(9,873)
Net cash used in financing activities	(75,864)	(151,382)
Net decrease in cash, cash equivalents and restricted cash	(25,783)	(88,998)
Cash, cash equivalents and restricted cash at beginning of period	221,202	275,075
Cash, cash equivalents and restricted cash at end of period	195,419	186,077
Non-cash investing and financing activities:
Accrued capital expenditures	5,085	4,053
Accrued liability for repurchases of common stock	400	2,400
Accrued excise tax on share repurchases	$ 301	$ 2,358

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Total
Balance at the beginning of period at Jun. 30, 2023	$ 822	$ 568,761	$ 2,403,750	$ (2,227)	$ (1,513,770)	$ 1,457,336
Balance at the beginning of period (in shares) at Jun. 30, 2023	82,232
Balance at the beginning of period (in shares) at Jun. 30, 2023					39,922
Net income			50,537			50,537
Stock-based compensation		13,505				13,505
Net activity from stock-based compensation awards	$ 9	15,304			$ (6,505)	8,808
Net activity from stock-based compensation awards (in shares)	860				145
Proceeds from stock issued under Colleague Stock Purchase Plan		17	(18)		$ 400	399
Proceeds from stock issued under Colleague Stock Purchase Plan (in shares)					(10)
Repurchases of common stock for treasury					$ (161,186)	(161,186)
Repurchases of common stock for treasury (in shares)					3,509
Balance at the end of period at Dec. 31, 2023	$ 831	597,587	2,454,269	(2,227)	$ (1,681,061)	1,369,399
Balance at the end of period (in shares) at Dec. 31, 2023	83,092
Balance at the end of period (in shares) at Dec. 31, 2023					43,566
Balance at the beginning of period at Sep. 30, 2023	$ 826	576,758	2,414,378	(2,227)	$ (1,611,072)	1,378,663
Balance at the beginning of period (in shares) at Sep. 30, 2023	82,605
Balance at the beginning of period (in shares) at Sep. 30, 2023					42,204
Net income			39,891			39,891
Stock-based compensation		6,050				6,050
Net activity from stock-based compensation awards	$ 5	14,758			$ (855)	13,908
Net activity from stock-based compensation awards (in shares)	487				15
Proceeds from stock issued under Colleague Stock Purchase Plan		21			$ 167	188
Proceeds from stock issued under Colleague Stock Purchase Plan (in shares)					(4)
Repurchases of common stock for treasury					$ (69,301)	(69,301)
Repurchases of common stock for treasury (in shares)					1,351
Balance at the end of period at Dec. 31, 2023	$ 831	597,587	2,454,269	(2,227)	$ (1,681,061)	1,369,399
Balance at the end of period (in shares) at Dec. 31, 2023	83,092
Balance at the end of period (in shares) at Dec. 31, 2023					43,566
Balance at the beginning of period at Jun. 30, 2024	$ 832	611,949	2,540,509	(2,227)	$ (1,781,928)	$ 1,369,135
Balance at the beginning of period (in shares) at Jun. 30, 2024	83,194					37,681
Balance at the beginning of period (in shares) at Jun. 30, 2024					45,513	45,513
Net income			122,021			$ 122,021
Stock-based compensation		20,918				20,918
Net activity from stock-based compensation awards	$ 7	9,826			$ (12,198)	(2,365)
Net activity from stock-based compensation awards (in shares)	692				160
Proceeds from stock issued under Colleague Stock Purchase Plan		282			$ 348	630
Proceeds from stock issued under Colleague Stock Purchase Plan (in shares)					(9)
Repurchases of common stock for treasury					$ (71,429)	(71,429)
Repurchases of common stock for treasury (in shares)					933
Balance at the end of period at Dec. 31, 2024	$ 839	642,975	2,662,530	(2,227)	$ (1,865,207)	$ 1,438,910
Balance at the end of period (in shares) at Dec. 31, 2024	83,886					37,289
Balance at the end of period (in shares) at Dec. 31, 2024					46,597	46,597
Balance at the beginning of period at Sep. 30, 2024	$ 838	631,033	2,586,674	(2,227)	$ (1,826,366)	$ 1,389,952
Balance at the beginning of period (in shares) at Sep. 30, 2024	83,829
Balance at the beginning of period (in shares) at Sep. 30, 2024					46,113
Net income			75,856			75,856
Stock-based compensation		11,467				11,467
Net activity from stock-based compensation awards	$ 1	334			$ (1,481)	(1,146)
Net activity from stock-based compensation awards (in shares)	57				17
Proceeds from stock issued under Colleague Stock Purchase Plan		141			$ 157	298
Proceeds from stock issued under Colleague Stock Purchase Plan (in shares)					(4)
Repurchases of common stock for treasury					$ (37,517)	(37,517)
Repurchases of common stock for treasury (in shares)					471
Balance at the end of period at Dec. 31, 2024	$ 839	$ 642,975	$ 2,662,530	$ (2,227)	$ (1,865,207)	$ 1,438,910
Balance at the end of period (in shares) at Dec. 31, 2024	83,886					37,289
Balance at the end of period (in shares) at Dec. 31, 2024					46,597	46,597

Nature of Operations

Nature of Operations	6 Months Ended
Nature of Operations	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations In this Quarterly Report on Form 10-Q, Adtalem Global Education Inc., together with its subsidiaries, is collectively referred to as “Adtalem,” “we,” “our,” “us,” or similar references. Adtalem reports on a fiscal year period ending on June 30. Therefore, this Quarterly Report for the quarterly period ended December 31, 2024 is for our second quarter of fiscal year 2025. Adtalem is the leading healthcare educator in the U.S. Our schools consist of Chamberlain University (“Chamberlain”), Walden University (“Walden”), American University of the Caribbean School of Medicine (“AUC”), Ross University School of Medicine (“RUSM”), and Ross University School of Veterinary Medicine (“RUSVM”). AUC, RUSM, and RUSVM are collectively referred to as the “medical and veterinary schools.” “Home Office” includes activities not allocated to a reportable segment. See Note 18 “Segment Information” for information on our reportable segments.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation Our significant accounting policies are described in Note 2 “Summary of Significant Accounting Policies” of our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (the “2024 Form 10-K”). We have prepared the accompanying unaudited consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (which are normal and recurring in nature) considered necessary for a fair presentation have been included. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. We use the same accounting policies in preparing quarterly and annual financial statements. Unless otherwise noted, amounts presented within the Notes to Consolidated Financial Statements refer to our continuing operations. Unless indicated, or the context requires otherwise, references to years refer to Adtalem’s fiscal years. Certain items presented in tables may not sum due to rounding. Prior period amounts have been revised to conform with the current period presentation. Business integration expense was $6.9 million and $12.2 million in the three and six months ended December 31, 2023, respectively. We did not incur business integration expense in the three and six months ended December 31, 2024. In the prior year, we incurred costs associated with integrating Walden into Adtalem. In addition, we initiated transformation initiatives to accelerate growth and organizational agility and certain costs relating to the transformation were included in business integration expense in the Consolidated Statements of Income. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Standards In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03: “Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The guidance was issued to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions as well as disclosures about selling expenses. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The amendments should be applied prospectively, however retrospective application is permitted. Early adoption of the amendments is permitted, including adoption in an interim period. The amendments will expand our footnote disclosures to include a disaggregation of expenses in accordance with the amendments but will not otherwise impact Adtalem’s Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07: “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The guidance was issued to improve disclosures about reportable segments and addresses requests from investors for additional, more detailed information about a reportable segment’s expenses by requiring entities to provide disclosures of significant segment expenses and other segment items. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The amendments should be applied retrospectively. Early adoption of the amendments is permitted, including adoption in an interim period. The amendments will impact our segment disclosures but will not otherwise impact Adtalem’s Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09: “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The guidance was issued to enhance the transparency and decision usefulness of income tax disclosures by requiring entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2024. The amendments should be applied prospectively, however retrospective application is permitted. Early adoption of the amendments is permitted. The amendments will impact our income tax disclosures but will not otherwise impact Adtalem’s Consolidated Financial Statements. We reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on our Consolidated Financial Statements. Revision to Previously Issued Financial Statements During the fourth quarter of fiscal year 2024, Adtalem identified an error in the presentation of capitalized cloud computing implementation costs in its previously issued financial statements. In accordance with Accounting Standards Codification (“ASC”) 350-40 “Intangibles, Goodwill and Other, Internal-Use Software,” capitalized cloud computing implementation costs should be presented in the same line item on the Consolidated Balance Sheets as a prepayment of the fees for the associated hosting arrangement, and the cash flows from capitalized implementation costs should be presented in the same manner as cash flows for the fees associated with the hosting arrangement. Adtalem previously presented capitalized cloud implementation costs in property and equipment, net rather than as prepaid expenses and other current assets and other assets, net on the Consolidated Balance Sheets. Adtalem previously presented the cash flows from capitalized implementation costs as capital expenditures within investing activities rather than within cash flows from operating activities in the Consolidated Statements of Cash Flows. Adtalem assessed the materiality of this error individually and in the aggregate with other previously identified errors to prior periods’ Consolidated Financial Statements in accordance with SEC Staff Accounting Bulletin (“SAB”) No. 99 “Materiality” and SAB 108 “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements” codified in ASC 250 “Accounting Changes and Error Corrections.” Adtalem concluded that the error was not material to prior periods and therefore, amendments of previously filed reports are not required. However, Adtalem determined it was appropriate to revise its previously issued financial statements. In accordance with ASC 250, Adtalem corrected the prior period presented herein by revising the financial statement line item amounts previously disclosed in SEC filings in order to achieve comparability in the Consolidated Financial Statements. The impact of this revision on Adtalem’s previously reported Consolidated Financial Statements are detailed below. We have also revised impacted amounts within the accompanying Notes to Consolidated Financial Statements. The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Cash Flows (in thousands): Six Months Ended December 31, 2023 As Reported Adjustment As Revised Operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Depreciation $ 20,714 $ (1,333) $ 19,381 Changes in assets and liabilities: Cloud computing implementation assets — (11,314) (11,314) Accounts payable 7,824 1,931 9,755 Net cash provided by operating activities-continuing operations 83,069 (10,716) 72,353 Net cash provided by operating activities 92,584 (10,716) 81,868 Investing activities: Capital expenditures (30,328) 10,716 (19,612) Net cash used in investing activities-continuing operations (30,200) 10,716 (19,484) Net cash used in investing activities (30,200) 10,716 (19,484) Non-cash investing and financing activities: Accrued capital expenditures 9,062 (5,009) 4,053

Discontinued Operations

Discontinued Operations	6 Months Ended
Discontinued Operations	Dec. 31, 2024
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations	3. Discontinued Operations On December 11, 2018, Adtalem completed the sale of DeVry University to Cogswell Education, LLC (“Cogswell”) for de minimis consideration. As the sale represented a strategic shift that had a major effect on Adtalem’s operations and financial results, DeVry University is presented in Adtalem’s Consolidated Financial Statements as a discontinued operation. The purchase agreement includes an earn-out entitling Adtalem to payments of up to $20.0 million over a ten-year period payable based on DeVry University’s financial results. Adtalem received $7.0 million and $5.5 million during the second quarter of fiscal year 2025 and 2024, respectively, related to the earn-out. To date, we have received a total of $19.5 million related to the earn-out. The following is a summary of income statement information reported as discontinued operations, which includes expense from ongoing litigation costs and settlements related to the DeVry University divestiture and the earn-outs we received (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Operating cost and expense: Student services and administrative expense (6,271) (2,926) (6,164) (1,161) Total operating cost and expense (6,271) (2,926) (6,164) (1,161) Income from discontinued operations before income taxes 6,271 2,926 6,164 1,161 Provision for income taxes (1,591) (748) (1,564) (296) Income from discontinued operations $ 4,680 $ 2,178 $ 4,600 $ 865

Revenue

Revenue	6 Months Ended
Revenue	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue Revenue is recognized when control of the promised goods or services is transferred to our customers (students), in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The following tables disaggregate revenue by source (in thousands): Three Months Ended December 31, 2024 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 180,986 $ 171,306 $ 93,021 $ 445,313 Other — — 2,416 2,416 Total $ 180,986 $ 171,306 $ 95,437 $ 447,729 Six Months Ended December 31, 2024 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 348,916 $ 332,819 $ 178,008 $ 859,743 Other — — 5,386 5,386 Total $ 348,916 $ 332,819 $ 183,394 $ 865,129 Three Months Ended December 31, 2023 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 153,553 $ 146,808 $ 89,438 $ 389,799 Other — — 3,443 3,443 Total $ 153,553 $ 146,808 $ 92,881 $ 393,242 Six Months Ended December 31, 2023 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 296,149 $ 288,416 $ 170,595 $ 755,160 Other — — 6,927 6,927 Total $ 296,149 $ 288,416 $ 177,522 $ 762,087 In addition, see Note 18 “Segment Information” for a disaggregation of revenue by geographical region. Performance Obligations and Revenue Recognition Tuition and fees Other Arrangements for payment are agreed to prior to registration of the student’s first academic term. The majority of U.S. students obtain Title IV or other financial aid resulting in institutions receiving a significant amount of the transaction price at the beginning of the academic term. Students not utilizing Title IV or other financial aid funding may pay after the academic term is complete. Transaction Price Revenue, or transaction price, is measured as the amount of consideration expected to be received in exchange for transferring goods or services. Students may receive scholarships, discounts, or refunds, which gives rise to variable consideration. The amounts of scholarships or discounts are generally applied to individual student accounts when such amounts are awarded. Therefore, the transaction price is immediately reduced directly by these scholarships or discounts from the amount of the standard tuition rate charged. Scholarships and discounts that are only applied to future tuition charged are considered a separate performance obligation if they represent a material right in accordance with ASC 606. In those instances, we defer the value of the related performance obligation associated with the future scholarship or discount based on estimates of future redemption based on our historical experience of student persistence toward completion of study. The contract liability associated with these material rights is presented as deferred revenue within current liabilities and other liabilities within noncurrent liabilities on the Consolidated Balance Sheets based on the amounts expected to be earned in the next 12 months. The contract liability amount associated with these material rights presented as deferred revenue within current liabilities is $32.1 million and $24.1 million as of December 31, 2024 and June 30, 2024, respectively, and the amount presented as deferred revenue within noncurrent liabilities is $21.3 million and $19.6 million as of December 31, 2024 and June 30, 2024, respectively. The noncurrent contract liability associated with these material rights is expected to be earned over approximately the next four Upon withdrawal, a student may be eligible to receive a refund, or partial refund, the amount of which is dependent on the timing of the withdrawal during the academic term. If a student withdraws prior to completing an academic term, federal and state regulations and accreditation criteria permit Adtalem to retain a set percentage of the total tuition received from such student, which varies with, but generally equals or exceeds, the percentage of the academic term completed by such student. Payment amounts received by Adtalem in excess of such set percentages of tuition are refunded to the student or the appropriate funding source. For contracts with similar characteristics and historical data on refunds, the expected value method is applied in determining the variable consideration related to refunds. Estimates of Adtalem’s expected refunds are determined at the outset of each academic term, based upon actual refunds in previous academic terms. Reserves related to refunds are presented as refund liabilities within accrued liabilities on the Consolidated Balance Sheets. All refunds are netted against revenue during the applicable academic term. Management reassesses collectability on a student-by-student basis throughout the period revenue is recognized. This reassessment is based upon new information and changes in facts and circumstances relevant to a student’s ability to pay. Management also reassesses collectability when a student withdraws from the institution and has unpaid tuition charges. Such unpaid charges do not meet the threshold of reasonably collectible and are recognized as revenue on a cash basis. Contract Balances Students are billed at the beginning of each academic term and payment is due at that time. Adtalem’s performance obligation is to provide educational services in the form of instruction during the academic term and to provide for any scholarships or discounts that are deemed a material right under ASC 606. As instruction is provided or the deferred value of material rights are recognized, deferred revenue is reduced. A significant portion of student payments are from Title IV financial aid and other programs and are generally received during the first month of the respective academic term. For students utilizing Adtalem’s credit extension programs (see Note 9 “Accounts and Financing Receivables”), payments are generally received after the academic term, and the corresponding performance obligation, is complete. When payments are received, accounts receivable and financing receivables are reduced. Deferred revenue within current liabilities is $171.5 million and $185.3 million as of December 31, 2024 and June 30, 2024, respectively, and deferred revenue within noncurrent liabilities is $21.3 million and $19.6 million as of December 31, 2024 and June 30, 2024, respectively. Revenue of $6.8 million and $173.2 million was recognized during the three and six months ended December 31, 2024, respectively, that was included in the deferred revenue balance at the beginning of fiscal year 2025. Revenue of $2.0 million and $152.1 million was recognized in the three and six months ended December 31, 2023, respectively, that was included in the deferred revenue balance at the beginning of fiscal year 2024. The difference between the opening and closing balances of deferred revenue includes decreases from revenue recognized during the period, increases from charges related to the start of academic terms beginning during the period, increases from payments received related to academic terms commencing after the end of the period, and increases from recognizing additional performance obligations for material rights during the period.

Restructuring Expense

Restructuring Expense	6 Months Ended
Restructuring Expense	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring Expense	5. Restructuring Expense During the six months ended December 31, 2024, Adtalem recorded restructuring expense primarily driven by workforce reductions, costs to exit certain course offerings, and prior real estate consolidations at Adtalem’s home office. We continue to incur restructuring charges or reversals related to exited leased space from previous restructuring actions. During the six months ended December 31, 2023, Adtalem recorded restructuring expense primarily driven by prior real estate consolidations at Adtalem’s home office. When estimating costs of exiting lease space, estimates are made which could differ materially from actual results and may result in additional restructuring charges or reversals in future periods. Termination benefit charges represent severance pay and benefits for employees impacted by workforce reductions. Restructuring expense by segment were as follows (in thousands): Three Months Ended December 31, 2024 Six Months Ended December 31, 2024 Real Estate and Other Termination Benefits Total Real Estate and Other Termination Benefits Total Chamberlain $ 77 $ — $ 77 $ 974 $ 961 $ 1,935 Medical and Veterinary 56 — 56 115 — 115 Home Office 189 — 189 366 — 366 Total $ 322 $ — $ 322 $ 1,455 $ 961 $ 2,416 Three Months Ended December 31, 2023 Six Months Ended December 31, 2023 Real Estate and Other Termination Benefits Total Real Estate and Other Termination Benefits Total Walden $ (776) $ — $ (776) $ (776) $ — $ (776) Medical and Veterinary 71 — 71 145 40 185 Home Office 773 — 773 1,335 — 1,335 Total $ 68 $ — $ 68 $ 704 $ 40 $ 744 The following table summarizes the separation and restructuring plan activity for fiscal years 2024 and 2025, for which cash payments are required (in thousands): Liability balance as of June 30, 2023 $ 741 Increase in liability (separation and other charges) 40 Reduction in liability (payments and adjustments) (781) Liability balance as of June 30, 2024 — Increase in liability (separation and other charges) 961 Reduction in liability (payments and adjustments) (939) Liability balance as of December 31, 2024 $ 22 These liability balances are recorded as accrued liabilities on the Consolidated Balance Sheets.

Other Income, Net

Other Income, Net	6 Months Ended
Other Income, Net	Dec. 31, 2024
Other Income and Expenses [Abstract]
Other Income, Net	6. Other Income, Net Other income, net consisted of the following (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Interest and dividend income $ 2,406 $ 2,541 $ 4,439 $ 5,202 Investment (loss) gain (171) 1,022 442 575 Other income, net $ 2,235 $ 3,563 $ 4,881 $ 5,777 Investment (loss) gain includes trading gains and losses related to the rabbi trust used to fund nonqualified deferred compensation plan obligations.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes Our effective tax rate from continuing operations was 22.8% and 22.0% in the three and six months ended December 31, 2024, respectively, and 17.1% and 17.5% in the three and six months ended December 31, 2023, respectively. The effective tax rate for the three and six months ended December 31, 2024 increased compared to the prior year periods primarily due to an increase in the percentage of earnings from operations in higher taxed jurisdictions and a limitation of tax benefits on certain executive compensation. The income tax provisions reflect the U.S. federal tax rate of 21% adjusted for taxes related to global intangible low-taxed income (“GILTI”), limitation of tax benefits on certain executive compensation, the rate of tax applied by state and local jurisdictions, the rate of tax applied to earnings outside the U.S., tax incentives, tax credits related to research and development expenditures, changes in valuation allowance, changes in uncertain tax positions, and tax benefits on stock-based compensation. RUSM and RUSVM each have agreements with their respective domestic governments that exempt them from local income taxation. RUSM has an exemption in Barbados until 2039 and RUSVM has an exemption in St. Kitts until 2038.

Earnings per Share

Earnings per Share	6 Months Ended
Earnings per Share	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings per Share	8. Earnings per Share The following table sets forth the computations of basic and diluted earnings per share and antidilutive shares (in thousands, except per share data): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Numerator: Net income: Continuing operations $ 71,176 $ 37,713 $ 117,421 $ 49,672 Discontinued operations 4,680 2,178 4,600 865 Net income $ 75,856 $ 39,891 $ 122,021 $ 50,537 Denominator: Weighted-average basic shares outstanding 37,435 39,872 37,578 40,636 Effect of dilutive stock awards 966 915 1,177 850 Weighted-average diluted shares outstanding 38,401 40,787 38,755 41,486 Earnings per share: Basic: Continuing operations $ 1.90 $ 0.95 $ 3.12 $ 1.22 Discontinued operations $ 0.13 $ 0.05 $ 0.12 $ 0.02 Total basic earnings per share $ 2.03 $ 1.00 $ 3.25 $ 1.24 Diluted: Continuing operations $ 1.85 $ 0.92 $ 3.03 $ 1.20 Discontinued operations $ 0.12 $ 0.05 $ 0.12 $ 0.02 Total diluted earnings per share $ 1.98 $ 0.98 $ 3.15 $ 1.22 Weighted-average antidilutive shares 89 89 45 210

Accounts and Financing Receivab

Accounts and Financing Receivables	6 Months Ended
Accounts and Financing Receivables	Dec. 31, 2024
Receivables [Abstract]
Accounts and Financing Receivables	9. Accounts and Financing Receivables Our accounts receivables relate to student balances occurring in the normal course of business. Accounts receivables have a term of less than one year and are included in accounts and financing receivables, net on our Consolidated Balance Sheets. Our financing receivables relate to credit extension programs, which provides student with payment terms in excess of one year and are included in accounts and financing receivables, net and other assets, net on our Consolidated Balance Sheets. The classification of our accounts and financing receivable balances was as follows (in thousands): December 31, 2024 Gross Allowance Net Accounts receivables, current $ 181,103 $ (36,752) $ 144,351 Financing receivables, current 5,415 (2,793) 2,622 Accounts and financing receivables, current $ 186,518 $ (39,545) $ 146,973 Financing receivables, current $ 5,415 $ (2,793) $ 2,622 Financing receivables, noncurrent 34,032 (10,266) 23,766 Total financing receivables $ 39,447 $ (13,059) $ 26,388 June 30, 2024 Gross Allowance Net Accounts receivables, current $ 159,406 $ (35,336) $ 124,070 Financing receivables, current 5,239 (2,476) 2,763 Accounts and financing receivables, current $ 164,645 $ (37,812) $ 126,833 Financing receivables, current $ 5,239 $ (2,476) $ 2,763 Financing receivables, noncurrent 36,214 (10,082) 26,132 Total financing receivables $ 41,453 $ (12,558) $ 28,895 Our financing receivables relate to credit extension programs available to students at Chamberlain, AUC, RUSM, and RUSVM. These credit extension programs are designed to assist students who are unable to completely cover educational costs consisting of tuition, fees, and books, and are available only after all other student financial assistance has been applied toward those purposes. In addition, AUC, RUSM, and RUSVM allow students to finance their living expenses. Repayment plans for financing agreements are developed to address the financial circumstances of the particular student. Interest charges at rates from 3.0% to 12.0% per annum accrue each month on the unpaid balance once a student withdraws or graduates from a program. Most students are required to begin repaying their loans while they are still in school with a minimum payment level. Payments may increase upon completing or departing school. Credit Quality The primary credit quality indicator for our financing receivables is delinquency. Balances are considered delinquent when contractual payments on the loan become past due. We generally write-off financing receivable balances when they are at least 181 days past due. Payments are applied first to outstanding interest and then to the unpaid principal balance. The credit quality analysis of financing receivables as of December 31, 2024 was as follows (in thousands): Amortized Cost Basis by Origination Year Prior 2021 2022 2023 2024 2025 Total 1-30 days past due $ 692 $ 269 $ 234 $ 646 $ 630 $ 595 $ 3,066 31-60 days past due 169 100 130 170 541 57 1,167 61-90 days past due 19 3 — 57 600 64 743 91-120 days past due 230 51 17 159 254 141 852 121-150 days past due 168 24 23 77 569 — 861 Greater than 150 days past due 2,684 1,424 1,092 2,325 2,767 — 10,292 Total past due 3,962 1,871 1,496 3,434 5,361 857 16,981 Current 5,510 3,219 1,620 3,233 5,636 3,248 22,466 Financing receivables, gross $ 9,472 $ 5,090 $ 3,116 $ 6,667 $ 10,997 $ 4,105 $ 39,447 Gross write-offs $ 737 $ 433 $ 424 $ 517 $ 262 $ — $ 2,373 The credit quality analysis of financing receivables as of June 30, 2024 was as follows (in thousands): Amortized Cost Basis by Origination Year Prior 2020 2021 2022 2023 2024 Total 1-30 days past due $ 552 $ — $ 214 $ 111 $ 1,188 $ 1,146 $ 3,211 31-60 days past due 213 90 65 37 567 1,488 2,460 61-90 days past due 174 — 5 110 370 257 916 91-120 days past due — 11 434 20 206 791 1,462 121-150 days past due 51 88 63 314 268 91 875 Greater than 150 days past due 2,556 466 1,366 1,300 1,920 987 8,595 Total past due 3,546 655 2,147 1,892 4,519 4,760 17,519 Current 6,014 748 3,944 1,897 4,549 6,782 23,934 Financing receivables, gross $ 9,560 $ 1,403 $ 6,091 $ 3,789 $ 9,068 $ 11,542 $ 41,453 Gross write-offs $ 1,145 $ 279 $ 509 $ 597 $ 729 $ 2 $ 3,261 Allowance for Credit Losses The allowance for credit losses represents an estimate of the lifetime expected credit losses inherent in our accounts and financing receivable balances as of each balance sheet date. In evaluating the collectability of our accounts and financing receivable balances, we utilize historical events, current conditions, and reasonable and supportable forecasts about the future. For our accounts receivables, we use historical loss rates based on an aging schedule and a student’s status to determine the allowance for credit losses. As these accounts receivables are short-term in nature, management believes a student’s status provides the best credit loss estimate, while also factoring in delinquency. Students still attending classes, recently graduated, or current on payments are more likely to pay than those who are inactive due to being on a leave of absence, withdrawing from school, or not current on payments. For our financing receivables, we use historical loss rates based on an aging schedule. As these financing receivables are based on long-term financing agreements offered by Adtalem, management believes that delinquency provides the best credit loss estimate. As the financing receivable balances become further past due, it is less likely we will receive payment, causing our estimate of credit losses to increase. The following tables provide a roll-forward of the allowance for credit losses (in thousands): Three Months Ended December 31, 2024 Six Months Ended December 31, 2024 Accounts Financing Total Accounts Financing Total Beginning balance $ 36,691 $ 13,467 $ 50,158 $ 35,336 $ 12,558 $ 47,894 Write-offs (16,759) (1,275) (18,034) (29,870) (2,373) (32,243) Recoveries 2,207 481 2,688 4,784 657 5,441 Provision for credit losses 14,613 386 14,999 26,502 2,217 28,719 Ending balance $ 36,752 $ 13,059 $ 49,811 $ 36,752 $ 13,059 $ 49,811 Three Months Ended December 31, 2023 Six Months Ended December 31, 2023 Accounts Financing Total Accounts Financing Total Beginning balance $ 32,361 $ 12,186 $ 44,547 $ 29,190 $ 11,468 $ 40,658 Write-offs (11,139) (421) (11,560) (19,551) (1,157) (20,708) Recoveries 2,307 254 2,561 4,928 444 5,372 Provision for credit losses 11,491 1,307 12,798 20,453 2,571 23,024 Ending balance $ 35,020 $ 13,326 $ 48,346 $ 35,020 $ 13,326 $ 48,346

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
Property and Equipment, Net	Dec. 31, 2024
Property, Plant And Equipment [Abstract]
Property and Equipment, Net	10. Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): December 31, June 30, Useful Life 2024 2024 Land - $ 31,776 $ 31,776 Buildings and improvements 10 - 31 years 200,702 200,274 Leasehold improvements Shorter of asset useful life or lease term 114,924 114,019 Furniture and equipment 3 - 8 years 99,457 103,961 Software 3 - 5 years 119,625 113,219 Construction in progress - 16,492 11,554 Property and equipment, gross 582,976 574,803 Accumulated depreciation (337,098) (326,279) Property and equipment, net $ 245,878 $ 248,524 During the second quarter of fiscal year 2024, management committed to a plan to sell a building owned by Adtalem located in Naperville, Illinois, and the building met criteria to be classified as assets held for sale. As a result, the building’s carrying value of $8.4 million was adjusted to its estimated fair value less cost to sell of $7.8 million, and the resulting $0.6 million charge was recognized within student services and administrative expense in the Consolidated Statements of Income for the three and six months ended December 31, 2023. In addition, the building is presented as assets held for sale on the Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024.

Leases

Leases	6 Months Ended
Leases	Dec. 31, 2024
Lessee Disclosure [Abstract]
Leases	11. Leases We determine if a contract contains a lease at inception. We have entered into operating leases for academic sites, housing facilities, and office space which expire at various dates through August 2040, most of which include options to terminate for a fee or extend the leases for an additional five-year period. The lease term includes the noncancelable period of the lease, as well as any periods for which we are reasonably certain to exercise extension options. We elected to account for lease and non-lease components (e.g., common-area maintenance costs) as a single lease component for all operating leases. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. We have not entered into any financing leases. Operating lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets represent our right to use an underlying asset during the lease term. Operating lease assets and liabilities are recognized at the lease commencement date based on the present value of future lease payments over the lease term. Operating lease assets are adjusted for any prepaid or accrued lease payments, lease incentives, initial direct costs, and impairments. Our incremental borrowing rate is utilized in determining the present value of the lease payments based upon the information available at the commencement date. Our incremental borrowing rate is determined using a secured borrowing rate for the same currency and term as the associated lease. Operating lease expense is recognized on a straight-line basis over the lease term. As of December 31, 2024, we had entered into one operating lease that has not yet commenced. The lease is expected to commence during the fourth quarter of fiscal year 2025, has a 13-year lease term, and will result in an additional operating lease asset The components of lease cost were as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Operating lease cost $ 11,379 $ 11,519 $ 22,110 $ 23,070 Sublease income (1,298) (2,700) (2,794) (5,381) Total lease cost $ 10,081 $ 8,819 $ 19,316 $ 17,689 Maturities of lease liabilities as of December 31, 2024 were as follows (in thousands): Operating Fiscal Year Leases 2025 (remaining) $ 22,966 2026 46,543 2027 46,018 2028 40,525 2029 31,631 Thereafter 139,547 Total lease payments 327,230 Less: lease incentives not yet received (16,546) Less: imputed interest (96,000) Present value of lease liabilities $ 214,684 Lease term and discount rate were as follows: December 31, 2024 Weighted-average remaining operating lease term (years) 7.7 Weighted-average operating lease discount rate 7.6% Supplemental disclosures of cash flow information related to leases were as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Cash paid for amounts in the measurement of operating lease liabilities (net of sublease receipts) $ 6,904 $ 10,989 $ 16,285 $ 21,615 Operating lease assets obtained in exchange for operating lease liabilities $ 24,023 $ 14,383 $ 26,137 $ 19,526 Adtalem maintains agreements to sublease either a portion or the full leased space at three of its operating lease locations. Adtalem’s sublease agreements expire at various dates through December 2025. We record sublease income as an offset against our lease expense recorded on the head lease. For leases which Adtalem vacated or partially vacated space, we recorded estimated restructuring charges in prior periods. Actual results may differ from these estimates, which could result in additional restructuring charges or reversals in future periods. Future minimum sublease rental income under these agreements as of December 31, 2024 was as follows (in thousands): Fiscal Year Amount 2025 (remaining) $ 2,504 2026 2,038 Total sublease rental income $ 4,542

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
Goodwill and Intangible Assets	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	12. Goodwill and Intangible Assets Goodwill balances by reportable segment were as follows (in thousands): December 31, June 30, 2024 2024 Chamberlain $ 4,716 $ 4,716 Walden 651,052 651,052 Medical and Veterinary 305,494 305,494 Total $ 961,262 $ 961,262 Amortizable intangible assets consisted of the following (in thousands): December 31, 2024 June 30, 2024 Gross Carrying Accumulated Gross Carrying Accumulated Weighted-Average Amount Amortization Amount Amortization Amortization Period Curriculum $ 56,091 $ (37,867) $ 56,091 $ (32,257) 5 Years Total $ 56,091 $ (37,867) $ 56,091 $ (32,257) Indefinite-lived intangible assets consisted of the following (in thousands): December 31, June 30, 2024 2024 Title IV eligibility and accreditations $ 611,100 $ 611,100 Trade name 141,760 141,760 Total $ 752,860 $ 752,860 Amortization expense on finite-lived intangible assets was $2.8 million and $5.6 million in three and six months ended December 31, 2024, respectively, and $9.3 million and $20.0 million in the three and six months ended December 31, 2023, respectively. Future amortization expense on finite-lived intangible assets, by reporting unit, is expected to be as follows (in thousands): Fiscal Year Walden 2025 (remaining) $ 5,610 2026 11,220 2027 1,394 Total $ 18,224 Curriculum is amortized on a straight-line basis. Student relationships was fully amortized as of June 30, 2024. Indefinite-lived intangible assets related to trade names and Title IV eligibility and accreditations 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. Goodwill and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is May 31. Adtalem has five reporting units, which are Chamberlain, Walden, AUC, RUSM, and RUSVM. These reporting units constitute components for which discrete financial information is available and regularly reviewed by segment management. We have the option to assess goodwill for impairment by first performing a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If it is determined that the reporting unit fair value is more likely than not less than its carrying value, or if we do not elect the option to perform an initial qualitative assessment, we perform a quantitative assessment of the reporting unit’s fair value. If the carrying value of a reporting unit containing the goodwill exceeds the fair value of that reporting unit, an impairment loss is recognized equal to the difference between the carrying value of the reporting unit and its fair value, not to exceed the carrying value of goodwill. We also have the option to perform a qualitative assessment to test indefinite-lived intangible assets for impairment by determining whether it is more likely than not that the indefinite-lived intangible assets are impaired. If it is determined that the indefinite-lived intangible asset is more likely than not impaired, or if we do not elect the option to perform an initial qualitative assessment, we perform a quantitative assessment of the indefinite-lived intangible assets. If the carrying value of the indefinite-lived intangible assets exceeds its fair value, an impairment loss is recognized to the extent the carrying value exceeds fair value. During the second quarter of fiscal year 2025, Adtalem performed an assessment to determine whether there were indicators of a triggering event which could indicate the carrying value of the reporting units may not be supported by the fair value. No indicators of a triggering event for potential impairment were noted in the second quarter of fiscal year 2025. If economic conditions deteriorate, or operating performance of our reporting units do not meet expectations such that we revise our long-term forecasts, we may recognize impairments of goodwill and other intangible assets in future periods.

Debt

Debt	6 Months Ended
Debt	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	13. Debt Long-term debt consisted of the following senior secured credit facilities (in thousands): December 31, June 30, 2024 2024 Senior Secured Notes due 2028 $ 404,950 $ 404,950 Term Loan B 253,333 253,333 Total principal 658,283 658,283 Unamortized debt discount and issuance costs (8,359) (9,571) Long-term debt $ 649,924 $ 648,712 Scheduled future maturities of long-term debt were as follows (in thousands): Maturity Fiscal Year Payments 2025 (remaining) $ — 2026 — 2027 — 2028 404,950 2029 253,333 Total $ 658,283 Senior Secured Notes due 2028 On March 1, 2021, Adtalem issued $800.0 million aggregate principal amount of 5.50% Senior Secured Notes due 2028 (the “Notes”), which mature on March 1, 2028, pursuant to an indenture, dated as of March 1, 2021 (the “Indenture”), by and between Adtalem and U.S. Bank National Association, as trustee and notes collateral agent. The Notes were sold within the U.S. only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the U.S. to non-U.S. persons in reliance on Regulation S under the Securities Act. The Notes were issued at 100.0% of their par value. The Notes bear interest at a rate of 5.50% per year, payable semi-annually in arrears on March 1 and September 1 of each year, commencing on September 1, 2021, to holders of record on the preceding February 15 and August 15, as the case may be. The Notes are guaranteed by certain of Adtalem’s subsidiaries that are borrowers or guarantors under its senior secured credit facilities and certain of its other senior indebtedness, subject to certain exceptions. The Notes are secured, subject to permitted liens and certain other exceptions, by first priority liens on the same collateral that secures the obligations under Adtalem’s senior secured credit facilities. We may redeem the Notes, in whole or in part, at any time on or after March 1, 2024 at redemption prices equal to 102.75%, 101.375%, and 100% of the principal amount of the Notes redeemed if the redemption occurs during the twelve-month periods beginning on March 1 of the years 2024, 2025, and 2026 and thereafter, respectively, in each case plus accrued and unpaid interest, if any, thereon to, but not including, the applicable redemption date. On April 11, 2022, we repaid $373.3 million of Notes at a price equal to 100% of the principal amount of the Notes. During June 2022, we repurchased on the open market an additional $20.8 million of Notes at a price equal to approximately 90% of the principal amount of the Notes. This debt was subsequently retired. During the first quarter of fiscal year 2023, we repurchased on the open market an additional $0.9 million of Notes at a price equal to approximately 92% of the principal amount of the Notes. This debt was subsequently retired. The principal balance of the Notes is $405.0 million as of December 31, 2024. Accrued interest on the Notes of $7.4 million and $7.4 million is recorded within accrued liabilities on the Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024, respectively. Credit Agreement On August 12, 2021, in connection with the Walden acquisition, Adtalem entered into its new credit agreement (the “Credit Agreement”) that provides for (1) a $850.0 million senior secured term loan (“Term Loan B”) with a maturity date of August 12, 2028 and (2) a $400.0 million senior secured revolving loan facility (“Revolver”) with a maturity date of August 12, 2026. We refer to the Term Loan B and Revolver collectively as the “Credit Facility.” The Revolver has availability for letters of credit and currencies other than U.S. dollars of up to $400.0 million. On June 27, 2023, Adtalem entered into Amendment No. 1 to Credit Agreement, identifying the Secured Overnight Financing Rate (“SOFR”) as the benchmark rate to replace LIBOR for eurocurrency rate loans within the Credit Agreement effective the first quarter of fiscal year 2024. Term Loan B Prior to January 26, 2024, borrowings under the Term Loan B bore interest at a rate per annum equal to, at our option, SOFR plus an applicable margin ranging from 4.00% to 4.50%, subject to a SOFR floor of 0.75%, or an alternate base rate (“ABR”) plus an applicable margin ranging from 3.00% to 3.50% depending on Adtalem’s net first lien leverage ratio for such period. On January 26, 2024, we entered into Amendment No. 2 to Credit Agreement, which resulted in a 0.50% reduction in our Term Loan B interest rate margin. From January 26, 2024 through August 21, 2024, borrowings under the Term Loan B bore interest at a rate per annum equal to, at our option, SOFR plus an applicable margin ranging from 3.50% to 4.00%, subject to a SOFR floor of 0.75%, or an ABR plus an applicable margin ranging from 2.50% to 3.00% depending on Adtalem’s net first lien leverage ratio for such period. On August 21, 2024, we entered into Amendment No. 3 to Credit Agreement, which resulted in a further 0.75% reduction in our Term Loan B interest rate margin and removed the leverage-based pricing grid. After August 21, 2024, borrowings under the Term Loan B bear interest at a rate per annum equal to, at our option, SOFR plus 2.75%, subject to a SOFR floor of 0.75%, or an ABR plus 1.75%. As of December 31, 2024, the interest rate for borrowings under the Term Loan B facility was 7.11%, which approximated the effective interest rate. The Term Loan B originally required quarterly installment payments of $2.125 million beginning on March 31, 2022. On March 11, 2022, we made a prepayment of $396.7 million on the Term Loan B. With that prepayment, we are no longer required to make quarterly installment payments. We made additional Term Loan B prepayments of $100.0 million, $50.0 million, and $50.0 million on September 22, 2022, November 22, 2022, and January 26, 2024, respectively. The principal balance of the Term Loan B is $253.3 million as of December 31, 2024. On January 17, 2025, we made an additional prepayment of $100.0 million on the Term Loan B, reducing the principal balance on the Term Loan B to $153.3 million as of January 17, 2025. Revolver Borrowings under the Revolver bear interest at a rate per annum equal to SOFR, subject to a SOFR floor of 0.75%, plus an applicable margin ranging from 3.75% to 4.25% or an ABR plus an applicable margin ranging from 2.75% to 3.25% depending on Adtalem’s net first lien leverage ratio for such period. There were no borrowings under the Revolver during the six months ended December 31, 2024 and 2023. The Credit Agreement requires payment of a commitment fee equal to 0.25% as of December 31, 2024, of the unused portion of the Revolver. The commitment fee expense is recorded within interest expense in the Consolidated Statements of Income. The amount unused under the Revolver was $301.0 million as of December 31, 2024. Debt Discount and Issuance Costs The Term Loan B was issued at a price of 99% of its principal amount, resulting in an original issue discount of 1%. The debt discount and issuance costs related to the Notes and Term Loan B are presented as a direct deduction from the face amount of the debt, while the debt issuance costs related to the Revolver are classified as other assets, net on the Consolidated Balance Sheets. The debt discount and issuance costs are amortized as interest expense over seven years for the Notes and Term Loan B and over five years for the Revolver. The following table summarizes the unamortized debt discount and issuance costs activity for the six months ended December 31, 2024 (in thousands): Notes Term Loan B Revolver Total Unamortized debt discount and issuance costs as of June 30, 2024 $ 4,446 $ 5,125 $ 4,327 $ 13,898 Amortization of debt discount and issuance costs (594) (618) (1,014) (2,226) Unamortized debt discount and issuance costs as of December 31, 2024 $ 3,852 $ 4,507 $ 3,313 $ 11,672 Off-Balance Sheet Arrangements On December 6, 2024, the U.S. Department of Education (“ED”) notified Adtalem that the $69.4 million surety-backed letter of credit in favor of ED on behalf of Walden, which allows Walden to participate in Title IV programs would be permitted to expire on December 31, 2024. A letter of credit in the amount of $157.9 million, representing 10% of the consolidated Title IV funds Adtalem’s institutions received during fiscal year 2022, was delivered to ED on November 1, 2023 with an expiration date of December 31, 2024. On December 3, 2024, ED requested Adtalem amend the letter of credit to $179.0 million, representing 10% of the consolidated Title IV funds Adtalem’s institutions received during fiscal year 2024 with an expiration date of January 31, 2026. As requested, Adtalem delivered this amended letter of credit to ED on December 13, 2024. Adtalem satisfied this request by securing a $99.0 million letter of credit under its Revolver and an $80.0 million surety-backed letter of credit. As of December 31, 2024, Adtalem had $179.0 million of letters of credit outstanding in favor of ED. Many states require private-sector postsecondary education institutions to post surety bonds for licensure. In the U.S., Adtalem has posted $63.9 million of surety bonds as of December 31, 2024 with regulatory authorities on behalf of Chamberlain, Walden, AUC, RUSM, and RUSVM. Interest Expense Interest expense consisted of the following (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Notes interest expense $ 5,568 $ 5,568 $ 11,136 $ 11,136 Term Loan B interest expense 4,819 7,321 10,302 14,576 Amortization of debt discount and issuance costs 1,113 1,155 2,226 2,310 Letters of credit fees 2,215 2,478 4,347 3,919 Other 194 171 380 409 Total $ 13,909 $ 16,693 $ 28,391 $ 32,350 Covenants and Guarantees The Credit Agreement and Notes contain customary covenants, including restrictions on our restricted subsidiaries’ ability to merge and consolidate with other companies, incur indebtedness, grant liens or security interest on assets, make acquisitions, loans, advances or investments, or sell or otherwise transfer assets. Obligations under the Credit Agreement are secured by a first-priority lien on substantially all of the assets of Adtalem and certain of its domestic wholly-owned subsidiaries. The Credit Agreement contains customary events of default for facilities of this type. If an event of default under the Credit Agreement occurs and is continuing, the commitments thereunder may be terminated and the principal amount outstanding thereunder, together with all accrued and unpaid interest and other amounts owed thereunder, may be declared immediately due and payable. Under the terms of the Credit Agreement, Adtalem is required to maintain a Total Net Leverage Ratio (as defined in the Credit Agreement) of equal to or less than 3.25 to 1.00. Adtalem was in compliance with the Credit Agreement debt covenants and the Notes covenants as of December 31, 2024.

Share Repurchases

Share Repurchases	6 Months Ended
Share Repurchases	Dec. 31, 2024
Dividends And Share Repurchase Program [Abstract]
Share Repurchases	14. Share Repurchases On March 1, 2022, we announced that the Board of Directors (the “Board”) authorized Adtalem’s thirteenth share repurchase program, which allowed Adtalem to repurchase up to $300.0 million of its common stock through February 25, 2025. On January 16, 2024, Adtalem completed its thirteenth share repurchase program. On January 19, 2024, we announced that the Board authorized Adtalem’s fourteenth share repurchase program, which allows Adtalem to repurchase up to $300.0 million of its common stock through January 16, 2027. Adtalem made share repurchases under its share repurchase programs as follows, which include the market price of the shares, commissions, and excise tax (in thousands, except shares and per share data): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Total number of share repurchases 471,327 1,350,735 933,390 3,509,133 Total cost of share repurchases $ 37,517 $ 69,301 $ 71,429 $ 161,186 Average price paid per share $ 79.60 $ 51.31 $ 76.53 $ 45.93 As of December 31, 2024, $140.1 million of authorized share repurchases were remaining under the fourteenth share repurchase program. The timing and amount of any future repurchases will be determined based on an evaluation of market conditions and other factors. These repurchases may be made through open market purchases, accelerated share repurchases, privately negotiated transactions, or otherwise. Repurchases will be funded through available cash balances and ongoing business operating cash generation and may be suspended or discontinued at any time. Shares of stock repurchased under the programs are held as treasury shares. Repurchases under our share repurchase programs reduce the weighted-average number of shares of common stock outstanding for basic and diluted earnings per share calculations.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
Stock-Based Compensation	Dec. 31, 2024
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	15. Stock-Based Compensation Adtalem’s current stock-based incentive plan is its Fourth Amended and Restated Incentive Plan of 2013, which is administered by the Compensation Committee of the Board. Under the plan, employees and directors are eligible to receive stock options, restricted stock units (“RSUs”), performance-based restricted stock units (“PSUs”), and other forms of stock awards. As of December 31, 2024, 1,610,726 shares of common stock were available for future issuance under this plan. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period. We account for forfeitures of unvested awards in the period they occur. Adtalem issues new shares of common stock to satisfy stock option exercises, RSU vests, and PSU vests. Stock-based compensation expense is included in student services and administrative expense in the Consolidated Statements of Income. There was no capitalized stock-based compensation cost as of December 31, 2024 and June 30, 2024. Stock Options Beginning in fiscal year 2023, the Compensation Committee of the Board determined to no longer grant stock options. Prior to fiscal year 2023, we granted stock options generally with a four-year graded vesting from the grant date and expire ten years from the grant date. The following table summarizes stock option activity for the six months ended December 31, 2024: Weighted-Average Number of Remaining Aggregate Stock Weighted-Average Contractual Life Intrinsic Value Options Exercise Price (in years) (in thousands) Outstanding as of June 30, 2024 550,343 $ 37.34 Exercised (267,685) 36.73 Expired (1,325) 36.46 Outstanding as of December 31, 2024 281,333 37.92 5.8 $ 14,890 Exercisable as of December 31, 2024 238,525 $ 38.08 5.7 $ 12,586 The fair value of stock options that vested during the six months ended December 31, 2024 and 2023 was $1.3 million and $1.9 million, respectively. As of December 31, 2024, $0.2 million of unrecognized stock-based compensation expense related to unvested stock options is expected to be recognized over a remaining weighted-average period of 0.7 years. The total intrinsic value of stock options exercised for the six months ended December 31, 2024 and 2023 was $10.2 million and $9.1 million, respectively. RSUs Prior to fiscal year 2023, we granted RSUs generally with a four-year graded vesting from the grant date. Beginning in fiscal year 2023, we grant RSUs generally with a three-year graded vesting from the grant date. We also grant RSUs to our Board members with a one-year cliff vest from the grant date. The fair value per share of RSUs is the closing market price of our common stock on the grant date. The following table summarizes RSU activity for the six months ended December 31, 2024: Weighted-Average Number of Grant Date RSUs Fair Value Unvested as of June 30, 2024 755,841 $ 40.51 Granted 213,030 88.98 Vested (340,570) 39.98 Forfeited (22,739) 46.65 Unvested as of December 31, 2024 605,562 $ 57.62 The weighted-average grant date fair value per share of RSUs granted in the six months ended December 31, 2024 and 2023 was $88.98 and $44.17, respectively. The grant date fair value of RSUs that vested during the six months ended December 31, 2024 and 2023 was $13.6 million and $10.7 million, respectively. As of December 31, 2024, $23.8 million of unrecognized stock-based compensation expense related to unvested RSUs is expected to be recognized over a remaining weighted-average period of 1.9 years. PSUs We issue PSUs generally with a three-year cliff vest from the grant date. The fair value per share of PSUs is the closing market price of our common stock on the grant date. We estimate the number of shares that will vest under our PSU awards when recognizing stock-based compensation expense for each reporting period. The final number of shares that vest under our PSUs is based on metrics approved by the Compensation Committee of the Board. The following table summarizes PSU activity for the six months ended December 31, 2024: Weighted-Average Number of Grant Date PSUs Fair Value Unvested as of June 30, 2024 629,770 $ 43.77 Granted 167,050 89.74 Vested (83,357) 33.84 Forfeited (70,643) 39.94 Unvested as of December 31, 2024 642,820 $ 57.42 The weighted-average grant date fair value per share of PSUs granted in the six months ended December 31, 2024 and 2023 was $89.74 and $50.07, respectively. The grant date fair value of PSUs that vested during the six months ended December 31, 2024 and 2023 was $2.8 million and $4.1 million, respectively. As of December 31, 2024, $32.4 million of unrecognized stock-based compensation expense related to unvested PSUs is expected to be recognized over a remaining weighted-average period of 1.8 years.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	16. Fair Value Measurements Fair value is defined under GAAP as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. The following fair value hierarchy prioritizes the inputs in valuation methodologies used to measure fair value: Level 1 – Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 – Unobservable inputs for the asset or liability. These fair value measurements require significant judgement. The valuation methodologies used for our assets and liabilities measured at fair value and their classification in the valuation hierarchy are described below. The carrying value of our cash, cash equivalents, and restricted cash approximates fair value because of their short-term nature and is classified as Level 1. Adtalem maintains a rabbi trust with investments in stock and bond mutual funds to fund obligations under our nonqualified deferred compensation plan. The fair value of the investments in the rabbi trust included in prepaid expenses and other current assets on the Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024 was $12.8 million and $13.2 million, respectively. These investments are recorded at fair value based upon quoted market prices using Level 1 inputs. The carrying value of the credit extension programs, which approximates its fair value, is included in accounts and financing receivables, ne is classified as Level 2. See Note 9 “Accounts and Financing Receivables” for additional information on these credit extension programs. Adtalem has a nonqualified deferred compensation plan for highly compensated employees and its Board members. The participant’s “investments” are in a hypothetical portfolio of investments which are tracked by an administrator. Changes in the fair value of the nonqualified deferred compensation obligation are derived using quoted prices in active markets based on the market price per unit multiplied by the number of units. Total liabilities under the plan included in accrued liabilities on the Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024 were $12.1 million and $12.2 million, respectively. The fair value of the nonqualified deferred compensation obligation is classified as Level 2 because their inputs are derived principally from observable market data by correlation to the hypothetical investments. As of both December 31, 2024 and June 30, 2024, the principal balance of our Notes was $405.0 million, with a fair value as of those dates of $397.4 million and $389.5 million, respectively. The valuation of the Notes was based upon quoted market prices and is classified as Level 1. As of both December 31, 2024 and June 30, 2024, the principal balance of our Term Loan B was $253.3 million, with a fair value as of those dates of $255.1 million and $254.9 million as of December 31, 2024 and June 30, 2024, respectively. The valuation of the Term Loan B was based upon quoted market prices in a non-active market and is classified as Level 2. See Note 13 “Debt” for additional information on our Notes and Term Loan B. As of December 31, 2024 and June 30, 2024, there were no assets or liabilities measured at fair value using Level 3 inputs. Adtalem has elected not to measure any assets or liabilities at fair value other than those required to be measured at fair value on a recurring basis. Assets measured at fair value on a nonrecurring basis include goodwill, intangible assets, and assets of businesses where the long-term value of the operations are deemed to be impaired. Goodwill and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually or more frequently if circumstances arise indicating potential impairment. This impairment review was most recently completed as of May 31, 2024. See Note 12 “Goodwill and Intangible Assets” for additional information on the impairment review, including valuation techniques and assumptions.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Dec. 31, 2024
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Adtalem is subject to lawsuits, administrative proceedings, regulatory reviews, and investigations associated with financial assistance programs and other matters arising in the conduct of its business and certain of these matters are discussed below. Descriptions of certain matters from prior SEC filings may not be carried forward in this report to the extent we believe such matters no longer are required to be disclosed or there has not been, to our knowledge, significant activity relating to them. As of December 31, 2024, we adequately reserved for matters that management has determined a loss is probable and that loss can be reasonably estimated. For those matters for which we have not recorded an accrual, their possible impact on Adtalem’s business, financial condition, or results of operations, cannot be predicted at this time. The continued defense, resolution, or settlement of any of the following matters could require us to expend significant resources and could have a material adverse effect on our business, financial condition, results of operations, and cash flows, and result in the imposition of significant restrictions on us and our ability to operate. On January 12, 2022, Walden was served with a complaint filed in the United States District Court for the District of Maryland by Aljanal Carroll, Claudia Provost Charles, and Tiffany Fair against Walden for damages, injunctive relief, and declaratory relief on behalf of themselves and all other similarly-situated individuals alleging violations of Title VI of the Civil Rights Act of 1964, the Equal Credit Opportunity Act, the Minnesota Prevention of Consumer Fraud Act, the Minnesota Uniform Deceptive Trade Practices Act, Minnesota statutes prohibiting false statements in advertising, and for common law fraudulent misrepresentation. Plaintiffs allege that Walden has targeted, deceived, and exploited Black and female Doctor of Business Administration (“DBA”) students by knowingly misrepresenting and understating the number of “capstone” credits required to complete the DBA program and obtain a degree. At a non-binding mediation held on September 21, 2023, the parties agreed on a $28.5 million payment to resolve the issues in the case, subject to agreement on non-financial terms. The parties subsequently agreed to the non-financial terms including an agreement by Walden to implement certain website disclosures and verifications and to make certain programmatic changes. A settlement agreement has been executed by the parties. The settlement agreement in no way constitutes an admission of wrongdoing or liability by Walden. Plaintiffs filed a motion for preliminary approval of the settlement agreement on March 28, 2024. On April 17, 2024, the District Court preliminarily approved the settlement, which includes the provisional certification of the settlement class (the “Class”). The Class opt-out deadline was June 19, 2024. On October 17, 2024, the Court held a fairness hearing, following which, the Court entered an Order granting final approval of the settlement. We recorded a $28.5 million loss contingency accrual for this matter within accrued liabilities on the Consolidated Balance Sheets as of June 30, 2024. On November 27, 2024, Adtalem paid the $28.5 million as required under the settlement agreement. In January 2024, Adtalem made a claim for indemnification under the Membership Interest Purchase Agreement with Laureate Education, Inc. (“Laureate”), dated September 11, 2020, pursuant to which Adtalem purchased Walden. Adtalem received $5.6 million in November 2024 from Laureate in satisfaction of this indemnification claim. On June 6, 2022, plaintiff Rajesh Verma filed a lawsuit on behalf of himself and a class of similarly situated individuals in the Circuit Court of the Fourth Judicial Circuit, Duval County Florida, against Walden alleging that Walden was placing telephonic sales calls to persons on the National Do-Not-Call Registry, in violation of the Telephone Consumer Protection Act, 47 U.S.C. § 227, et seq. Although originally filed in state court, Walden removed the case to federal court and filed a motion to dismiss plaintiff’s complaint. On August 26, 2022, plaintiff filed a motion to remand Count I of the complaint to state court. On March 2, 2023, plaintiff filed an amended complaint to add a Florida state law claim against Walden under the Florida Telephone Solicitation Act (“FTSA”). On March 16, 2023, Walden filed its answer to the amended complaint. On March 29, 2023, Walden’s motion to dismiss plaintiff’s complaint and plaintiff’s motion to remand Count I of the complaint were denied. A non-binding mediation was held on September 18, 2023. The parties reached a settlement for an immaterial amount, subject to Court approval. On November 27, 2023, the parties filed a motion for preliminary approval of the settlement agreement. On May 20, 2024, the Court granted preliminary approval to the settlement. On October 29, 2024, the Court conducted a final settlement approval hearing at which the Court indicated that it would approve the settlement. On October 31, 2024, the Court entered a final approval for the settlement. On December 6, 2024, Walden paid an immaterial amount as required under the settlement agreement. As previously disclosed, pursuant to the terms of the Stock Purchase Agreement (“SPA”) by and between Adtalem and Cogswell, dated as of December 4, 2017, as amended, Adtalem sold DeVry University to Cogswell and Adtalem agreed to indemnify DeVry University for certain losses up to $340.0 million (the “Liability Cap”). Adtalem has previously disclosed DeVry University related matters that have consumed a portion of the Liability Cap. In late January 2024 and early February 2024, ED sent notice to Chamberlain, RUSM, RUSVM, and Walden that it had received approximately 3,225, 1,700, 1,900, and 7,740 borrower defense to repayment applications filed by students at Chamberlain, RUSM, RUSVM, and Walden respectively between June 23, 2022 and November 15, 2022. Each application seeks forgiveness of federal student loans made to these students. In the notices received, ED indicated that: (1) the notification was occurring prior to any substantive review of the application as well as its adjudication; (2) it would send the applications to each institution in batches of 500 per week; (3) it is optional for institutions to respond to the applications; and (4) not responding will result in no negative inference by ED. ED has also explained that it will separately decide whether to seek recoupment on any approved claim and that any recoupment actions ED chooses to initiate will have their own notification and response processes, which include an opportunity to provide additional evidence to the institutions. ED has indicated that an institution will learn of ED’s determination to forgive student loans only if it approves a borrower defense to repayment application and ED seeks recoupment. Chamberlain, RUSM, RUSVM, and Walden have responded to all of the applications received and they believe that none properly stated a claim for loan forgiveness.

Segment Information

Segment Information	6 Months Ended
Segment Information	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	18. Segment Information We present three reportable segments as follows: Chamberlain Walden Medical and Veterinary These segments are consistent with the method by which the Chief Operating Decision Maker (Adtalem’s President and Chief Executive Officer) evaluates performance and allocates resources. Performance evaluations are based on each segment’s adjusted operating income. Adjusted operating income excludes special items, which consists of restructuring expense, business integration expense, amortization of acquired intangible assets, litigation reserve, loss on assets held for sale, and debt modification costs. Adtalem’s management excludes these items from its review of the results of the operating segments for purposes of measuring segment profitability and allocating resources. “Home Office” includes activities not allocated to a reportable segment and is included to reconcile segment results to the Consolidated Financial Statements. Total assets by segment are not presented as our CODM does not review or allocate resources based on segment assets. The accounting policies of the segments are the same as those described in Note 2 “Summary of Significant Accounting Policies.” Summary financial information by reportable segment is as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Revenue: Chamberlain $ 180,986 $ 153,553 $ 348,916 $ 296,149 Walden 171,306 146,808 332,819 288,416 Medical and Veterinary 95,437 92,881 183,394 177,522 Total consolidated revenue $ 447,729 $ 393,242 $ 865,129 $ 762,087 Adjusted operating income: Chamberlain $ 42,303 $ 29,640 $ 70,135 $ 53,964 Walden 46,153 30,155 88,795 61,270 Medical and Veterinary 21,519 22,091 36,249 36,568 Home Office (8,528) (6,317) (17,883) (12,924) Total consolidated adjusted operating income 101,447 75,569 177,296 138,878 Reconciliation to Consolidated Financial Statements: Restructuring expense (322) (68) (2,416) (744) Business integration expense — (6,909) — (12,171) Amortization of acquired intangible assets (2,805) (9,333) (5,610) (20,010) Litigation reserve 5,550 — 5,550 (18,500) Loss on assets held for sale — (647) — (647) Debt modification costs — — (712) — Total consolidated operating income 103,870 58,612 174,108 86,806 Interest expense (13,909) (16,693) (28,391) (32,350) Other income, net 2,235 3,563 4,881 5,777 Total consolidated income from continuing operations before income taxes $ 92,196 $ 45,482 $ 150,598 $ 60,233 Depreciation: Chamberlain $ 5,466 $ 4,786 $ 10,834 $ 8,902 Walden 1,795 1,926 3,477 3,900 Medical and Veterinary 2,744 2,972 5,313 5,864 Home Office 185 359 369 715 Total consolidated depreciation $ 10,190 $ 10,043 $ 19,993 $ 19,381 Amortization of acquired intangible assets: Walden $ 2,805 $ 9,333 $ 5,610 $ 20,010 Total consolidated amortization of acquired intangible assets $ 2,805 $ 9,333 $ 5,610 $ 20,010 Adtalem conducts its educational operations in the U.S., Barbados, St. Kitts, and St. Maarten. Revenue by geographic area is as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Revenue by geographic area: Domestic operations $ 352,292 $ 300,361 $ 681,735 $ 584,565 Barbados, St. Kitts, and St. Maarten 95,437 92,881 183,394 177,522 Total consolidated revenue $ 447,729 $ 393,242 $ 865,129 $ 762,087 No one customer accounted for more than 10% of Adtalem’s consolidated revenue for all periods presented.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 75,856	$ 39,891	$ 122,021	$ 50,537

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our significant accounting policies are described in Note 2 “Summary of Significant Accounting Policies” of our Annual Report on Form 10-K for the fiscal year ended June 30, 2024 (the “2024 Form 10-K”). We have prepared the accompanying unaudited consolidated financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial statements and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (which are normal and recurring in nature) considered necessary for a fair presentation have been included. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. We use the same accounting policies in preparing quarterly and annual financial statements. Unless otherwise noted, amounts presented within the Notes to Consolidated Financial Statements refer to our continuing operations. Unless indicated, or the context requires otherwise, references to years refer to Adtalem’s fiscal years. Certain items presented in tables may not sum due to rounding. Prior period amounts have been revised to conform with the current period presentation. Business integration expense was $6.9 million and $12.2 million in the three and six months ended December 31, 2023, respectively. We did not incur business integration expense in the three and six months ended December 31, 2024. In the prior year, we incurred costs associated with integrating Walden into Adtalem. In addition, we initiated transformation initiatives to accelerate growth and organizational agility and certain costs relating to the transformation were included in business integration expense in the Consolidated Statements of Income.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Recent Accounting Standards	Recent Accounting Standards In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2024-03: “Income Statement–Reporting Comprehensive Income–Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” The guidance was issued to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions as well as disclosures about selling expenses. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The amendments should be applied prospectively, however retrospective application is permitted. Early adoption of the amendments is permitted, including adoption in an interim period. The amendments will expand our footnote disclosures to include a disaggregation of expenses in accordance with the amendments but will not otherwise impact Adtalem’s Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07: “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The guidance was issued to improve disclosures about reportable segments and addresses requests from investors for additional, more detailed information about a reportable segment’s expenses by requiring entities to provide disclosures of significant segment expenses and other segment items. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The amendments should be applied retrospectively. Early adoption of the amendments is permitted, including adoption in an interim period. The amendments will impact our segment disclosures but will not otherwise impact Adtalem’s Consolidated Financial Statements. In December 2023, the FASB issued ASU No. 2023-09: “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The guidance was issued to enhance the transparency and decision usefulness of income tax disclosures by requiring entities to provide additional information in the rate reconciliation and additional disclosures about income taxes paid. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2024. The amendments should be applied prospectively, however retrospective application is permitted. Early adoption of the amendments is permitted. The amendments will impact our income tax disclosures but will not otherwise impact Adtalem’s Consolidated Financial Statements. We reviewed all other recently issued accounting pronouncements and concluded that they were either not applicable or not expected to have a significant impact on our Consolidated Financial Statements.
Revision to Previously Issued Financial Statements	Revision to Previously Issued Financial Statements During the fourth quarter of fiscal year 2024, Adtalem identified an error in the presentation of capitalized cloud computing implementation costs in its previously issued financial statements. In accordance with Accounting Standards Codification (“ASC”) 350-40 “Intangibles, Goodwill and Other, Internal-Use Software,” capitalized cloud computing implementation costs should be presented in the same line item on the Consolidated Balance Sheets as a prepayment of the fees for the associated hosting arrangement, and the cash flows from capitalized implementation costs should be presented in the same manner as cash flows for the fees associated with the hosting arrangement. Adtalem previously presented capitalized cloud implementation costs in property and equipment, net rather than as prepaid expenses and other current assets and other assets, net on the Consolidated Balance Sheets. Adtalem previously presented the cash flows from capitalized implementation costs as capital expenditures within investing activities rather than within cash flows from operating activities in the Consolidated Statements of Cash Flows. Adtalem assessed the materiality of this error individually and in the aggregate with other previously identified errors to prior periods’ Consolidated Financial Statements in accordance with SEC Staff Accounting Bulletin (“SAB”) No. 99 “Materiality” and SAB 108 “Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements” codified in ASC 250 “Accounting Changes and Error Corrections.” Adtalem concluded that the error was not material to prior periods and therefore, amendments of previously filed reports are not required. However, Adtalem determined it was appropriate to revise its previously issued financial statements. In accordance with ASC 250, Adtalem corrected the prior period presented herein by revising the financial statement line item amounts previously disclosed in SEC filings in order to achieve comparability in the Consolidated Financial Statements. The impact of this revision on Adtalem’s previously reported Consolidated Financial Statements are detailed below. We have also revised impacted amounts within the accompanying Notes to Consolidated Financial Statements. The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Cash Flows (in thousands): Six Months Ended December 31, 2023 As Reported Adjustment As Revised Operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Depreciation $ 20,714 $ (1,333) $ 19,381 Changes in assets and liabilities: Cloud computing implementation assets — (11,314) (11,314) Accounts payable 7,824 1,931 9,755 Net cash provided by operating activities-continuing operations 83,069 (10,716) 72,353 Net cash provided by operating activities 92,584 (10,716) 81,868 Investing activities: Capital expenditures (30,328) 10,716 (19,612) Net cash used in investing activities-continuing operations (30,200) 10,716 (19,484) Net cash used in investing activities (30,200) 10,716 (19,484) Non-cash investing and financing activities: Accrued capital expenditures 9,062 (5,009) 4,053

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2024
Accounting Policies [Abstract]
Effect of revision on affected line items within financial statements	The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Cash Flows (in thousands): Six Months Ended December 31, 2023 As Reported Adjustment As Revised Operating activities: Adjustments to reconcile net income to net cash provided by operating activities: Depreciation $ 20,714 $ (1,333) $ 19,381 Changes in assets and liabilities: Cloud computing implementation assets — (11,314) (11,314) Accounts payable 7,824 1,931 9,755 Net cash provided by operating activities-continuing operations 83,069 (10,716) 72,353 Net cash provided by operating activities 92,584 (10,716) 81,868 Investing activities: Capital expenditures (30,328) 10,716 (19,612) Net cash used in investing activities-continuing operations (30,200) 10,716 (19,484) Net cash used in investing activities (30,200) 10,716 (19,484) Non-cash investing and financing activities: Accrued capital expenditures 9,062 (5,009) 4,053

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
Discontinued Operations (Tables)	Dec. 31, 2024
Discontinued Operations And Disposal Groups [Abstract]
Income Statement Information of Discontinued Operations	The following is a summary of income statement information reported as discontinued operations, which includes expense from ongoing litigation costs and settlements related to the DeVry University divestiture and the earn-outs we received (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Revenue $ — $ — $ — $ — Operating cost and expense: Student services and administrative expense (6,271) (2,926) (6,164) (1,161) Total operating cost and expense (6,271) (2,926) (6,164) (1,161) Income from discontinued operations before income taxes 6,271 2,926 6,164 1,161 Provision for income taxes (1,591) (748) (1,564) (296) Income from discontinued operations $ 4,680 $ 2,178 $ 4,600 $ 865

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregate revenue	The following tables disaggregate revenue by source (in thousands): Three Months Ended December 31, 2024 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 180,986 $ 171,306 $ 93,021 $ 445,313 Other — — 2,416 2,416 Total $ 180,986 $ 171,306 $ 95,437 $ 447,729 Six Months Ended December 31, 2024 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 348,916 $ 332,819 $ 178,008 $ 859,743 Other — — 5,386 5,386 Total $ 348,916 $ 332,819 $ 183,394 $ 865,129 Three Months Ended December 31, 2023 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 153,553 $ 146,808 $ 89,438 $ 389,799 Other — — 3,443 3,443 Total $ 153,553 $ 146,808 $ 92,881 $ 393,242 Six Months Ended December 31, 2023 Chamberlain Walden Medical and Veterinary Consolidated Tuition and fees $ 296,149 $ 288,416 $ 170,595 $ 755,160 Other — — 6,927 6,927 Total $ 296,149 $ 288,416 $ 177,522 $ 762,087

Restructuring Expense (Tables)

Restructuring Expense (Tables)	6 Months Ended
Restructuring Expense (Tables)	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	Restructuring expense by segment were as follows (in thousands): Three Months Ended December 31, 2024 Six Months Ended December 31, 2024 Real Estate and Other Termination Benefits Total Real Estate and Other Termination Benefits Total Chamberlain $ 77 $ — $ 77 $ 974 $ 961 $ 1,935 Medical and Veterinary 56 — 56 115 — 115 Home Office 189 — 189 366 — 366 Total $ 322 $ — $ 322 $ 1,455 $ 961 $ 2,416 Three Months Ended December 31, 2023 Six Months Ended December 31, 2023 Real Estate and Other Termination Benefits Total Real Estate and Other Termination Benefits Total Walden $ (776) $ — $ (776) $ (776) $ — $ (776) Medical and Veterinary 71 — 71 145 40 185 Home Office 773 — 773 1,335 — 1,335 Total $ 68 $ — $ 68 $ 704 $ 40 $ 744
Separation and Restructuring Plan Activity	The following table summarizes the separation and restructuring plan activity for fiscal years 2024 and 2025, for which cash payments are required (in thousands): Liability balance as of June 30, 2023 $ 741 Increase in liability (separation and other charges) 40 Reduction in liability (payments and adjustments) (781) Liability balance as of June 30, 2024 — Increase in liability (separation and other charges) 961 Reduction in liability (payments and adjustments) (939) Liability balance as of December 31, 2024 $ 22

Other Income, Net (Tables)

Other Income, Net (Tables)	6 Months Ended
Other Income, Net (Tables)	Dec. 31, 2024
Other Income and Expenses [Abstract]
Schedule of other income, net	Other income, net consisted of the following (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Interest and dividend income $ 2,406 $ 2,541 $ 4,439 $ 5,202 Investment (loss) gain (171) 1,022 442 575 Other income, net $ 2,235 $ 3,563 $ 4,881 $ 5,777

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
Earnings per Share (Tables)	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of earnings per share	The following table sets forth the computations of basic and diluted earnings per share and antidilutive shares (in thousands, except per share data): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Numerator: Net income: Continuing operations $ 71,176 $ 37,713 $ 117,421 $ 49,672 Discontinued operations 4,680 2,178 4,600 865 Net income $ 75,856 $ 39,891 $ 122,021 $ 50,537 Denominator: Weighted-average basic shares outstanding 37,435 39,872 37,578 40,636 Effect of dilutive stock awards 966 915 1,177 850 Weighted-average diluted shares outstanding 38,401 40,787 38,755 41,486 Earnings per share: Basic: Continuing operations $ 1.90 $ 0.95 $ 3.12 $ 1.22 Discontinued operations $ 0.13 $ 0.05 $ 0.12 $ 0.02 Total basic earnings per share $ 2.03 $ 1.00 $ 3.25 $ 1.24 Diluted: Continuing operations $ 1.85 $ 0.92 $ 3.03 $ 1.20 Discontinued operations $ 0.12 $ 0.05 $ 0.12 $ 0.02 Total diluted earnings per share $ 1.98 $ 0.98 $ 3.15 $ 1.22 Weighted-average antidilutive shares 89 89 45 210

Accounts and Financing Receiv_2

Accounts and Financing Receivables (Tables)	6 Months Ended
Accounts and Financing Receivables (Tables)	Dec. 31, 2024
Receivables [Abstract]
Schedule of classification of accounts and financing receivable	The classification of our accounts and financing receivable balances was as follows (in thousands): December 31, 2024 Gross Allowance Net Accounts receivables, current $ 181,103 $ (36,752) $ 144,351 Financing receivables, current 5,415 (2,793) 2,622 Accounts and financing receivables, current $ 186,518 $ (39,545) $ 146,973 Financing receivables, current $ 5,415 $ (2,793) $ 2,622 Financing receivables, noncurrent 34,032 (10,266) 23,766 Total financing receivables $ 39,447 $ (13,059) $ 26,388 June 30, 2024 Gross Allowance Net Accounts receivables, current $ 159,406 $ (35,336) $ 124,070 Financing receivables, current 5,239 (2,476) 2,763 Accounts and financing receivables, current $ 164,645 $ (37,812) $ 126,833 Financing receivables, current $ 5,239 $ (2,476) $ 2,763 Financing receivables, noncurrent 36,214 (10,082) 26,132 Total financing receivables $ 41,453 $ (12,558) $ 28,895
Schedule of credit quality analysis of financing receivable	The credit quality analysis of financing receivables as of December 31, 2024 was as follows (in thousands): Amortized Cost Basis by Origination Year Prior 2021 2022 2023 2024 2025 Total 1-30 days past due $ 692 $ 269 $ 234 $ 646 $ 630 $ 595 $ 3,066 31-60 days past due 169 100 130 170 541 57 1,167 61-90 days past due 19 3 — 57 600 64 743 91-120 days past due 230 51 17 159 254 141 852 121-150 days past due 168 24 23 77 569 — 861 Greater than 150 days past due 2,684 1,424 1,092 2,325 2,767 — 10,292 Total past due 3,962 1,871 1,496 3,434 5,361 857 16,981 Current 5,510 3,219 1,620 3,233 5,636 3,248 22,466 Financing receivables, gross $ 9,472 $ 5,090 $ 3,116 $ 6,667 $ 10,997 $ 4,105 $ 39,447 Gross write-offs $ 737 $ 433 $ 424 $ 517 $ 262 $ — $ 2,373 The credit quality analysis of financing receivables as of June 30, 2024 was as follows (in thousands): Amortized Cost Basis by Origination Year Prior 2020 2021 2022 2023 2024 Total 1-30 days past due $ 552 $ — $ 214 $ 111 $ 1,188 $ 1,146 $ 3,211 31-60 days past due 213 90 65 37 567 1,488 2,460 61-90 days past due 174 — 5 110 370 257 916 91-120 days past due — 11 434 20 206 791 1,462 121-150 days past due 51 88 63 314 268 91 875 Greater than 150 days past due 2,556 466 1,366 1,300 1,920 987 8,595 Total past due 3,546 655 2,147 1,892 4,519 4,760 17,519 Current 6,014 748 3,944 1,897 4,549 6,782 23,934 Financing receivables, gross $ 9,560 $ 1,403 $ 6,091 $ 3,789 $ 9,068 $ 11,542 $ 41,453 Gross write-offs $ 1,145 $ 279 $ 509 $ 597 $ 729 $ 2 $ 3,261
Schedule of the allowance for credit losses roll-forward	The following tables provide a roll-forward of the allowance for credit losses (in thousands): Three Months Ended December 31, 2024 Six Months Ended December 31, 2024 Accounts Financing Total Accounts Financing Total Beginning balance $ 36,691 $ 13,467 $ 50,158 $ 35,336 $ 12,558 $ 47,894 Write-offs (16,759) (1,275) (18,034) (29,870) (2,373) (32,243) Recoveries 2,207 481 2,688 4,784 657 5,441 Provision for credit losses 14,613 386 14,999 26,502 2,217 28,719 Ending balance $ 36,752 $ 13,059 $ 49,811 $ 36,752 $ 13,059 $ 49,811 Three Months Ended December 31, 2023 Six Months Ended December 31, 2023 Accounts Financing Total Accounts Financing Total Beginning balance $ 32,361 $ 12,186 $ 44,547 $ 29,190 $ 11,468 $ 40,658 Write-offs (11,139) (421) (11,560) (19,551) (1,157) (20,708) Recoveries 2,307 254 2,561 4,928 444 5,372 Provision for credit losses 11,491 1,307 12,798 20,453 2,571 23,024 Ending balance $ 35,020 $ 13,326 $ 48,346 $ 35,020 $ 13,326 $ 48,346

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
Property and Equipment, Net (Tables)	Dec. 31, 2024
Property, Plant And Equipment [Abstract]
Schedule of Property and equipment, net	Property and equipment, net consisted of the following (in thousands): December 31, June 30, Useful Life 2024 2024 Land - $ 31,776 $ 31,776 Buildings and improvements 10 - 31 years 200,702 200,274 Leasehold improvements Shorter of asset useful life or lease term 114,924 114,019 Furniture and equipment 3 - 8 years 99,457 103,961 Software 3 - 5 years 119,625 113,219 Construction in progress - 16,492 11,554 Property and equipment, gross 582,976 574,803 Accumulated depreciation (337,098) (326,279) Property and equipment, net $ 245,878 $ 248,524

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Dec. 31, 2024
Lessee Disclosure [Abstract]
Summary of components of lease cost	The components of lease cost were as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Operating lease cost $ 11,379 $ 11,519 $ 22,110 $ 23,070 Sublease income (1,298) (2,700) (2,794) (5,381) Total lease cost $ 10,081 $ 8,819 $ 19,316 $ 17,689
Summary of maturities of lease liabilities	Maturities of lease liabilities as of December 31, 2024 were as follows (in thousands): Operating Fiscal Year Leases 2025 (remaining) $ 22,966 2026 46,543 2027 46,018 2028 40,525 2029 31,631 Thereafter 139,547 Total lease payments 327,230 Less: lease incentives not yet received (16,546) Less: imputed interest (96,000) Present value of lease liabilities $ 214,684
Summary of lease term and discount rate	Lease term and discount rate were as follows: December 31, 2024 Weighted-average remaining operating lease term (years) 7.7 Weighted-average operating lease discount rate 7.6%
Summary of supplemental disclosures of cash flow information related to leases	Supplemental disclosures of cash flow information related to leases were as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Cash paid for amounts in the measurement of operating lease liabilities (net of sublease receipts) $ 6,904 $ 10,989 $ 16,285 $ 21,615 Operating lease assets obtained in exchange for operating lease liabilities $ 24,023 $ 14,383 $ 26,137 $ 19,526
Schedule of Future minimum lease and sublease rental income	Future minimum sublease rental income under these agreements as of December 31, 2024 was as follows (in thousands): Fiscal Year Amount 2025 (remaining) $ 2,504 2026 2,038 Total sublease rental income $ 4,542

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
Goodwill and Intangible Assets (Tables)	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	Goodwill balances by reportable segment were as follows (in thousands): December 31, June 30, 2024 2024 Chamberlain $ 4,716 $ 4,716 Walden 651,052 651,052 Medical and Veterinary 305,494 305,494 Total $ 961,262 $ 961,262
Summary of Amortizable Intangible Assets	Amortizable intangible assets consisted of the following (in thousands): December 31, 2024 June 30, 2024 Gross Carrying Accumulated Gross Carrying Accumulated Weighted-Average Amount Amortization Amount Amortization Amortization Period Curriculum $ 56,091 $ (37,867) $ 56,091 $ (32,257) 5 Years Total $ 56,091 $ (37,867) $ 56,091 $ (32,257)
Summary of Indefinite-Lived Intangible Assets	Indefinite-lived intangible assets consisted of the following (in thousands): December 31, June 30, 2024 2024 Title IV eligibility and accreditations $ 611,100 $ 611,100 Trade name 141,760 141,760 Total $ 752,860 $ 752,860
Estimated Amortization Expense for Amortized Intangible Assets	Future amortization expense on finite-lived intangible assets, by reporting unit, is expected to be as follows (in thousands): Fiscal Year Walden 2025 (remaining) $ 5,610 2026 11,220 2027 1,394 Total $ 18,224

Debt (Tables)

Debt (Tables)	6 Months Ended
Debt (Tables)	Dec. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following senior secured credit facilities (in thousands): December 31, June 30, 2024 2024 Senior Secured Notes due 2028 $ 404,950 $ 404,950 Term Loan B 253,333 253,333 Total principal 658,283 658,283 Unamortized debt discount and issuance costs (8,359) (9,571) Long-term debt $ 649,924 $ 648,712
Schedule of Maturities of Long-term Debt	Scheduled future maturities of long-term debt were as follows (in thousands): Maturity Fiscal Year Payments 2025 (remaining) $ — 2026 — 2027 — 2028 404,950 2029 253,333 Total $ 658,283
Schedule Of Debt Issuance Costs	The following table summarizes the unamortized debt discount and issuance costs activity for the six months ended December 31, 2024 (in thousands): Notes Term Loan B Revolver Total Unamortized debt discount and issuance costs as of June 30, 2024 $ 4,446 $ 5,125 $ 4,327 $ 13,898 Amortization of debt discount and issuance costs (594) (618) (1,014) (2,226) Unamortized debt discount and issuance costs as of December 31, 2024 $ 3,852 $ 4,507 $ 3,313 $ 11,672
Schedule of components of interest expense	Interest expense consisted of the following (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Notes interest expense $ 5,568 $ 5,568 $ 11,136 $ 11,136 Term Loan B interest expense 4,819 7,321 10,302 14,576 Amortization of debt discount and issuance costs 1,113 1,155 2,226 2,310 Letters of credit fees 2,215 2,478 4,347 3,919 Other 194 171 380 409 Total $ 13,909 $ 16,693 $ 28,391 $ 32,350

Share Repurchases (Tables)

Share Repurchases (Tables)	6 Months Ended
Share Repurchases (Tables)	Dec. 31, 2024
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Shares repurchased under programs	Adtalem made share repurchases under its share repurchase programs as follows, which include the market price of the shares, commissions, and excise tax (in thousands, except shares and per share data): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Total number of share repurchases 471,327 1,350,735 933,390 3,509,133 Total cost of share repurchases $ 37,517 $ 69,301 $ 71,429 $ 161,186 Average price paid per share $ 79.60 $ 51.31 $ 76.53 $ 45.93

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
Stock-Based Compensation (Tables)	Dec. 31, 2024
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Options Activity	The following table summarizes stock option activity for the six months ended December 31, 2024: Weighted-Average Number of Remaining Aggregate Stock Weighted-Average Contractual Life Intrinsic Value Options Exercise Price (in years) (in thousands) Outstanding as of June 30, 2024 550,343 $ 37.34 Exercised (267,685) 36.73 Expired (1,325) 36.46 Outstanding as of December 31, 2024 281,333 37.92 5.8 $ 14,890 Exercisable as of December 31, 2024 238,525 $ 38.08 5.7 $ 12,586
Summary of Restricted Stock Units Activity	The following table summarizes RSU activity for the six months ended December 31, 2024: Weighted-Average Number of Grant Date RSUs Fair Value Unvested as of June 30, 2024 755,841 $ 40.51 Granted 213,030 88.98 Vested (340,570) 39.98 Forfeited (22,739) 46.65 Unvested as of December 31, 2024 605,562 $ 57.62
Summary of Performance Shares Unit Activity	The following table summarizes PSU activity for the six months ended December 31, 2024: Weighted-Average Number of Grant Date PSUs Fair Value Unvested as of June 30, 2024 629,770 $ 43.77 Granted 167,050 89.74 Vested (83,357) 33.84 Forfeited (70,643) 39.94 Unvested as of December 31, 2024 642,820 $ 57.42

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Dec. 31, 2024
Segment Reporting [Abstract]
Tabulation of Business Segment Information Based on Current Segmentation	Summary financial information by reportable segment is as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Revenue: Chamberlain $ 180,986 $ 153,553 $ 348,916 $ 296,149 Walden 171,306 146,808 332,819 288,416 Medical and Veterinary 95,437 92,881 183,394 177,522 Total consolidated revenue $ 447,729 $ 393,242 $ 865,129 $ 762,087 Adjusted operating income: Chamberlain $ 42,303 $ 29,640 $ 70,135 $ 53,964 Walden 46,153 30,155 88,795 61,270 Medical and Veterinary 21,519 22,091 36,249 36,568 Home Office (8,528) (6,317) (17,883) (12,924) Total consolidated adjusted operating income 101,447 75,569 177,296 138,878 Reconciliation to Consolidated Financial Statements: Restructuring expense (322) (68) (2,416) (744) Business integration expense — (6,909) — (12,171) Amortization of acquired intangible assets (2,805) (9,333) (5,610) (20,010) Litigation reserve 5,550 — 5,550 (18,500) Loss on assets held for sale — (647) — (647) Debt modification costs — — (712) — Total consolidated operating income 103,870 58,612 174,108 86,806 Interest expense (13,909) (16,693) (28,391) (32,350) Other income, net 2,235 3,563 4,881 5,777 Total consolidated income from continuing operations before income taxes $ 92,196 $ 45,482 $ 150,598 $ 60,233 Depreciation: Chamberlain $ 5,466 $ 4,786 $ 10,834 $ 8,902 Walden 1,795 1,926 3,477 3,900 Medical and Veterinary 2,744 2,972 5,313 5,864 Home Office 185 359 369 715 Total consolidated depreciation $ 10,190 $ 10,043 $ 19,993 $ 19,381 Amortization of acquired intangible assets: Walden $ 2,805 $ 9,333 $ 5,610 $ 20,010 Total consolidated amortization of acquired intangible assets $ 2,805 $ 9,333 $ 5,610 $ 20,010
Revenues and long-lived assets by geographic area	Revenue by geographic area is as follows (in thousands): Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Revenue by geographic area: Domestic operations $ 352,292 $ 300,361 $ 681,735 $ 584,565 Barbados, St. Kitts, and St. Maarten 95,437 92,881 183,394 177,522 Total consolidated revenue $ 447,729 $ 393,242 $ 865,129 $ 762,087

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Business integration expense		$ 6,909	$ 0	$ 12,171
Walden University, LLC
Business integration expense	$ 0	$ 6,900	$ 0	$ 12,200

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Effect of Revision on Affected Line Items Within Consolidated Statements of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	$ 10,190	$ 10,043	$ 19,993	$ 19,381
Changes in assets and liabilities:
Cloud computing implementation assets			(14,071)	(11,314)
Accounts payable			(34,588)	9,755
Net cash provided by operating activities-continuing operations			65,957	72,353
Net cash provided by operating activities			70,297	81,868
Investing activities:
Capital expenditures			(21,094)	(19,612)
Net cash used in investing activities-continuing operations				(19,484)
Net cash used in investing activities			(20,216)	(19,484)
Non-cash investing and financing activities:
Accrued capital expenditures			$ 5,085	4,053
As Reported
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation				20,714
Changes in assets and liabilities:
Accounts payable				7,824
Net cash provided by operating activities-continuing operations				83,069
Net cash provided by operating activities				92,584
Investing activities:
Capital expenditures				(30,328)
Net cash used in investing activities-continuing operations				(30,200)
Net cash used in investing activities				(30,200)
Non-cash investing and financing activities:
Accrued capital expenditures				9,062
Adjustment
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation				(1,333)
Changes in assets and liabilities:
Cloud computing implementation assets				(11,314)
Accounts payable				1,931
Net cash provided by operating activities-continuing operations				(10,716)
Net cash provided by operating activities				(10,716)
Investing activities:
Capital expenditures				10,716
Net cash used in investing activities-continuing operations				10,716
Net cash used in investing activities				10,716
Non-cash investing and financing activities:
Accrued capital expenditures				$ (5,009)

Discontinued Operations (Additi

Discontinued Operations (Additional Information) (Details) - USD ($) $ in Millions		3 Months Ended		39 Months Ended
	Dec. 11, 2018	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024
Earn out received		$ 7	$ 5.5	$ 19.5
DeVry University
Earn out maximum	$ 20
Earn out term	10 years

Discontinued Operations (Summar

Discontinued Operations (Summary of Income Statement Information of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Discontinued Operations And Disposal Groups [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0
Operating cost and expense:
Student services and administrative expense	(6,271)	(2,926)	(6,164)	(1,161)
Total operating cost and expense	(6,271)	(2,926)	(6,164)	(1,161)
Income from discontinued operations before income taxes	6,271	2,926	6,164	1,161
Provision for income taxes	(1,591)	(748)	(1,564)	(296)
Income from discontinued operations	$ 4,680	$ 2,178	$ 4,600	$ 865

Revenue (Disaggregate revenue)

Revenue (Disaggregate revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 447,729	$ 393,242	$ 865,129	$ 762,087
Tuition and fees
Disaggregation of Revenue [Line Items]
Revenue	445,313	389,799	859,743	755,160
Other
Disaggregation of Revenue [Line Items]
Revenue	2,416	3,443	5,386	6,927
Chamberlain
Disaggregation of Revenue [Line Items]
Revenue	180,986	153,553	348,916	296,149
Chamberlain \| Tuition and fees
Disaggregation of Revenue [Line Items]
Revenue	180,986	153,553	348,916	296,149
Chamberlain \| Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Walden
Disaggregation of Revenue [Line Items]
Revenue	171,306	146,808	332,819	288,416
Walden \| Tuition and fees
Disaggregation of Revenue [Line Items]
Revenue	171,306	146,808	332,819	288,416
Walden \| Other
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Medical and Veterinary
Disaggregation of Revenue [Line Items]
Revenue	95,437	92,881	183,394	177,522
Medical and Veterinary \| Tuition and fees
Disaggregation of Revenue [Line Items]
Revenue	93,021	89,438	178,008	170,595
Medical and Veterinary \| Other
Disaggregation of Revenue [Line Items]
Revenue	$ 2,416	$ 3,443	$ 5,386	$ 6,927

Revenue (Additional Information

Revenue (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Disaggregation of Revenue [Line Items]
Contract with Customer, Period			4 years
Deferred revenue, current	$ 171,523		$ 171,523		$ 185,272
Deferred revenue, non-current	21,300		21,300		19,600
Revenue recognized included in the deferred revenue	6,800	$ 2,000	173,200	$ 152,100
Deferred revenue, current
Disaggregation of Revenue [Line Items]
Contract liability, current	32,100		32,100		24,100
Other Noncurrent Liabilities
Disaggregation of Revenue [Line Items]
Contract liability, non-current	$ 21,300		$ 21,300		$ 19,600

Restructuring Expense (Restruct

Restructuring Expense (Restructuring and Related Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 322	$ 68	$ 2,416	$ 744
Chamberlain.
Restructuring Cost and Reserve [Line Items]
Restructuring expense	77		1,935
Walden University [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense		(776)		(776)
Medical and Veterinary
Restructuring Cost and Reserve [Line Items]
Restructuring expense	56	71	115	185
Home Office
Restructuring Cost and Reserve [Line Items]
Restructuring expense	189	773	366	1,335
Real Estate and Other
Restructuring Cost and Reserve [Line Items]
Restructuring expense	322	68	1,455	704
Real Estate and Other \| Chamberlain.
Restructuring Cost and Reserve [Line Items]
Restructuring expense	77		974
Real Estate and Other \| Walden University [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense		(776)		(776)
Real Estate and Other \| Medical and Veterinary
Restructuring Cost and Reserve [Line Items]
Restructuring expense	56	71	115	145
Real Estate and Other \| Home Office
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 189	$ 773	366	1,335
Termination Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expense			961	40
Termination Benefits \| Chamberlain.
Restructuring Cost and Reserve [Line Items]
Restructuring expense			$ 961
Termination Benefits \| Medical and Veterinary
Restructuring Cost and Reserve [Line Items]
Restructuring expense				$ 40

Restructuring Expense (Separati

Restructuring Expense (Separation and Restructuring Plan Activity) (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2024	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Liability beginning balance	$ 0	$ 741
Increase in liability (separation and other charges)	961	40
Reduction in liability (payments and adjustments)	(939)	(781)
Liability ending balance	$ 22	$ 0

Other Income, Net (Schedule of

Other Income, Net (Schedule of other income, net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Other Income and Expenses [Abstract]
Interest and dividend income	$ 2,406	$ 2,541	$ 4,439	$ 5,202
Investment (loss) gain	(171)	1,022	442	575
Other income, net	$ 2,235	$ 3,563	$ 4,881	$ 5,777

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rates from continuing operations	22.80%	17.10%	22%	17.50%
U.S. federal corporate tax rate	21%	21%	21%	21%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Continuing operations	$ 71,176	$ 37,713	$ 117,421	$ 49,672
Discontinued operations	4,680	2,178	4,600	865
Net income and comprehensive income	$ 75,856	$ 39,891	$ 122,021	$ 50,537
Denominator:
Weighted-average basic shares outstanding	37,435	39,872	37,578	40,636
Effect of dilutive stock awards	966	915	1,177	850
Weighted-average diluted shares outstanding	38,401	40,787	38,755	41,486
Basic:
Continuing operations (In dollars per share)	$ 1.9	$ 0.95	$ 3.12	$ 1.22
Discontinued operations (In dollars per share)	0.13	0.05	0.12	0.02
Total basic earnings per share (In dollar per share)	2.03	1	3.25	1.24
Diluted:
Continuing operations (In dollars per share)	1.85	0.92	3.03	1.2
Discontinued operations (In dollars per share)	0.12	0.05	0.12	0.02
Total diluted earnings per share (In dollars per share)	$ 1.98	$ 0.98	$ 3.15	$ 1.22
Weighted Average
Diluted:
Weighted-average anti-dilutive shares	89	89	45	210

Accounts and Financing Receiv_3

Accounts and Financing Receivables (Classification of Accounts and Financing Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023
Accounts Receivable, after Allowance for Credit Loss, Current [Abstract]
Accounts receivables, current - Gross	$ 181,103		$ 159,406
Accounts receivables, current - Allowance	(36,752)		(35,336)
Accounts receivables, current - Net	144,351		124,070
Financing Receivable, after Allowance for Credit Loss, Current [Abstract]
Financing receivables, current - Gross	5,415		5,239
Financing receivables, current - Allowance	(2,793)		(2,476)
Financing receivables, current - Net	2,622		2,763
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts and financing receivables, current - Gross	186,518		164,645
Accounts and financing receivables, current - Allowance	(39,545)		(37,812)
Accounts and financing receivables, current - Net	146,973		126,833
Financing Receivable, after Allowance for Credit Loss, Noncurrent [Abstract]
Financing receivables, noncurrent - Gross	34,032		36,214
Financing receivables, noncurrent - Allowance	(10,266)		(10,082)
Financing receivables, noncurrent - Net	23,766		26,132
Financing Receivable, after Allowance for Credit Loss [Abstract]
Total financing receivables	39,447		41,453
Total financing receivables - Allowance	(13,059)	$ (13,467)	(12,558)	$ (13,326)	$ (12,186)	$ (11,468)
Total financing receivables - Net	$ 26,388		$ 28,895

Accounts and Financing Receiv_4

Accounts and Financing Receivables (Credit Quality Analysis of Financing Receivable) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Financing Receivable, Credit Quality Indicator [Line Items]
Total financing receivables	$ 39,447		$ 39,447		$ 41,453
Gross write-offs Prior			737		1,145
Gross write-offs Four Years Before			433		279
Gross write-offs Three Years Before			424		509
Gross write-offs Two Years Before			517		597
Gross write-offs Year Before			262		729
Gross write-offs Origination Year			0		2
Gross write-offs	1,275	$ 421	2,373	$ 1,157	3,261
1 - 30 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	692		692		552
Four Years Before	269		269		0
Three Years Before	234		234		214
Two Years Before	646		646		111
Year Before	630		630		1,188
Origination Year	595		595		1,146
Total financing receivables	3,066		3,066		3,211
31-60 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	169		169		213
Four Years Before	100		100		90
Three Years Before	130		130		65
Two Years Before	170		170		37
Year Before	541		541		567
Origination Year	57		57		1,488
Total financing receivables	1,167		1,167		2,460
61-90 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	19		19		174
Four Years Before	3		3		0
Three Years Before	0		0		5
Two Years Before	57		57		110
Year Before	600		600		370
Origination Year	64		64		257
Total financing receivables	743		743		916
91-120 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	230		230		0
Four Years Before	51		51		11
Three Years Before	17		17		434
Two Years Before	159		159		20
Year Before	254		254		206
Origination Year	141		141		791
Total financing receivables	852		852		1,462
121-150 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	168		168		51
Four Years Before	24		24		88
Three Years Before	23		23		63
Two Years Before	77		77		314
Year Before	569		569		268
Origination Year	0		0		91
Total financing receivables	861		861		875
Greater than 150 days past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	2,684		2,684		2,556
Four Years Before	1,424		1,424		466
Three Years Before	1,092		1,092		1,366
Two Years Before	2,325		2,325		1,300
Year Before	2,767		2,767		1,920
Origination Year	0		0		987
Total financing receivables	10,292		10,292		8,595
Total past due
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	3,962		3,962		3,546
Four Years Before	1,871		1,871		655
Three Years Before	1,496		1,496		2,147
Two Years Before	3,434		3,434		1,892
Year Before	5,361		5,361		4,519
Origination Year	857		857		4,760
Total financing receivables	16,981		16,981		17,519
Current
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	5,510		5,510		6,014
Four Years Before	3,219		3,219		748
Three Years Before	1,620		1,620		3,944
Two Years Before	3,233		3,233		1,897
Year Before	5,636		5,636		4,549
Origination Year	3,248		3,248		6,782
Total financing receivables	22,466		22,466		23,934
Financing receivables, gross
Financing Receivable, Credit Quality Indicator [Line Items]
Prior	9,472		9,472		9,560
Four Years Before	5,090		5,090		1,403
Three Years Before	3,116		3,116		6,091
Two Years Before	6,667		6,667		3,789
Year Before	10,997		10,997		9,068
Origination Year	4,105		4,105		11,542
Total financing receivables	$ 39,447		$ 39,447		$ 41,453

Accounts and Financing Receiv_5

Accounts and Financing Receivables (Roll-forward of Allowances for Credit Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024
Accounts
Beginning balance	$ 36,691	$ 32,361	$ 35,336	$ 29,190	$ 29,190
Write-offs	(16,759)	(11,139)	(29,870)	(19,551)
Recoveries	2,207	2,307	4,784	4,928
Provision for credit losses	14,613	11,491	26,502	20,453
Ending balance	36,752	35,020	36,752	35,020	35,336
Financing
Beginning balance	13,467	12,186	12,558	11,468	11,468
Write-offs	(1,275)	(421)	(2,373)	(1,157)	(3,261)
Recoveries	481	254	657	444
Provision for credit losses	386	1,307	2,217	2,571
Ending balance	13,059	13,326	13,059	13,326	12,558
Allowance for credit losses
Beginning balance	50,158	44,547	47,894	40,658	40,658
Write-offs	(18,034)	(11,560)	(32,243)	(20,708)
Recoveries	2,688	2,561	5,441	5,372
Provision for credit losses	14,999	12,798	28,719	23,024
Ending balance	$ 49,811	$ 48,346	$ 49,811	$ 48,346	$ 47,894

Accounts and Financing Receiv_6

Accounts and Financing Receivables (Additional Information) (Details)	6 Months Ended
	Dec. 31, 2024
Minimum
Financing Receivables [Line Items]
Receivable with Imputed Interest, Effective Yield (Interest Rate)	3%
Maximum
Financing Receivables [Line Items]
Receivable with Imputed Interest, Effective Yield (Interest Rate)	12%

Property and Equipment, Net (Sc

Property and Equipment, Net (Schedule of Property and equipment, net) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Property and Equipment, Net
Property and equipment, gross	$ 582,976	$ 574,803
Accumulated depreciation	(337,098)	(326,279)
Property and equipment, net	245,878	248,524
Land
Property and Equipment, Net
Property and equipment, gross	31,776	31,776
Buildings and improvements
Property and Equipment, Net
Property and equipment, gross	$ 200,702	$ 200,274
Buildings and improvements \| Minimum
Property and Equipment, Net
Useful life of assets	10 years	10 years
Buildings and improvements \| Maximum
Property and Equipment, Net
Useful life of assets	31 years	31 years
Leasehold improvements
Property and Equipment, Net
Property and equipment, gross	$ 114,924	$ 114,019
Furniture and equipment
Property and Equipment, Net
Property and equipment, gross	$ 99,457	$ 103,961
Furniture and equipment \| Minimum
Property and Equipment, Net
Useful life of assets	3 years	3 years
Furniture and equipment \| Maximum
Property and Equipment, Net
Useful life of assets	8 years	8 years
Software
Property and Equipment, Net
Property and equipment, gross	$ 119,625	$ 113,219
Software \| Minimum
Property and Equipment, Net
Useful life of assets	3 years	3 years
Software \| Maximum
Property and Equipment, Net
Useful life of assets	5 years	5 years
Construction in progress
Property and Equipment, Net
Property and equipment, gross	$ 16,492	$ 11,554

Property and Equipment, Net (Ad

Property and Equipment, Net (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2024	Jun. 30, 2024
Property, Plant And Equipment [Abstract]
Carrying value	$ 8,400	$ 8,400
Estimated fair value less cost	7,800	7,800	$ 7,825	$ 7,825
Unrealized loss on assets held for sale	$ 647	$ 647

Leases (Additional Information)

Leases (Additional Information) (Details) $ in Thousands	6 Months Ended
Leases (Additional Information) (Details) $ in Thousands	Dec. 31, 2024 USD ($) location lease	Jun. 30, 2025 USD ($)	Jun. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Option to terminate lease	true
Option to extend lease	true
Extension term	5 years
Number of operating lease locations the entity has agreements to sublease either a portion or the full leased space \| location	3
Number of leases yet to commence \| lease	1
Operating lease asset	$ 188,800		$ 176,755
Operating lease liability	$ 214,684
Lease not yet commenced, contract one \| Forecast
Lessee, Lease, Description [Line Items]
Lease term on property lease that has not yet commenced		13 years
Operating lease asset		$ 2,800
Operating lease liability		$ 2,800

Leases (Components of Lease Cos

Leases (Components of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Lease, Cost [Abstract]
Operating lease cost	$ 11,379	$ 11,519	$ 22,110	$ 23,070
Sublease income	(1,298)	(2,700)	(2,794)	(5,381)
Total lease cost	$ 10,081	$ 8,819	$ 19,316	$ 17,689

Leases (Maturities of Lease Lia

Leases (Maturities of Lease Liabilities) (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Maturities of lease liabilities
2025 (remaining)	$ 22,966
2026	46,543
2027	46,018
2028	40,525
2029	31,631
Thereafter	139,547
Total lease payments	327,230
Less: lease incentives not yet received	(16,546)
Less: imputed interest	(96,000)
Present value of lease liabilities	$ 214,684

Leases (Lease Term, Discount Ra

Leases (Lease Term, Discount Rate and Cash Flow Information ) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Lessee Disclosure [Abstract]
Weighted-average remaining operating lease term (years)	7 years 8 months 12 days		7 years 8 months 12 days
Weighted-average operating lease discount rate	7.60%		7.60%
Cash paid for amounts in the measurement of operating lease liabilities (net of sublease receipts)	$ 6,904	$ 10,989	$ 16,285	$ 21,615
Operating lease assets obtained in exchange for operating lease liabilities	$ 24,023	$ 14,383	$ 26,137	$ 19,526

Leases (Future Minimum Rental C

Leases (Future Minimum Rental Commitments for Noncancelable Operating Leases ) (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Abstract]
2025 (remaining)	$ 2,504
2026	2,038
Total sublease rental income	$ 4,542

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Summary of Goodwill Balances by Reporting Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Goodwill [Line Items]
Goodwill	$ 961,262	$ 961,262
Chamberlain
Goodwill [Line Items]
Goodwill	4,716	4,716
Walden
Goodwill [Line Items]
Goodwill	651,052	651,052
Medical and Veterinary
Goodwill [Line Items]
Goodwill	$ 305,494	$ 305,494

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	$ 56,091	$ 56,091
Amortizable Intangible Assets, Accumulated Amortization	(37,867)	(32,257)
Curriculum
Intangible Assets [Line Items]
Amortizable Intangible Assets, Gross Carrying Amount	56,091	56,091
Amortizable Intangible Assets, Accumulated Amortization	$ (37,867)	$ (32,257)
Amortizable Intangible Assets, Weighted Average Amortization Period	5 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Summary of Indefinite-Lived Intangible Assets Balances by Reporting Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets balances	$ 752,860	$ 752,860
Title IV eligibility and accreditations
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets balances	611,100	611,100
Trade name
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets balances	$ 141,760	$ 141,760

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Estimated Amortization Expense for Amortized Intangible Assets) (Details) - Walden $ in Thousands	Dec. 31, 2024 USD ($)
Intangible Assets [Line Items]
2025 (remaining)	$ 5,610
2026	11,220
2027	1,394
Total	$ 18,224

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Additional Information) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reporting units \| segment			5
Amortization of intangible assets \| $	$ 2,805	$ 9,333	$ 5,610	$ 20,010

Debt (Long-term debt) (Details)

Debt (Long-term debt) (Details) - USD ($) $ in Thousands	Jan. 17, 2025	Dec. 31, 2024	Jun. 30, 2024
Total debt:
Long-term debt, gross		$ 658,283	$ 658,283
Unamortized debt discount and issuance costs		(8,359)	(9,571)
Long-term debt		649,924	648,712
Senior Secured Notes Due 2028
Total debt:
Long-term debt, gross		404,950	404,950
Term B Loan
Total debt:
Long-term debt, gross	$ 153,300	$ 253,333	$ 253,333

Debt (Scheduled maturities of l

Debt (Scheduled maturities of long-term debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Jun. 30, 2024
Debt Disclosure [Abstract]
2025 (remaining)	$ 0
2026	0
2027	0
2028	404,950
2029	253,333
Long-term Debt	$ 658,283	$ 658,283

Debt (Debt Issuance Costs) (Det

Debt (Debt Issuance Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs, beginning			$ 13,898
Amortization of debt discount and issuance costs	$ (1,113)	$ (1,155)	(2,226)	$ (2,310)
Unamortized debt discount and issuance costs, ending	11,672		11,672
Revolving Credit Facility
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs, beginning			4,327
Amortization of debt discount and issuance costs			(1,014)
Unamortized debt discount and issuance costs, ending	3,313		3,313
Senior Secured Notes Due 2028
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs, beginning			4,446
Amortization of debt discount and issuance costs			(594)
Unamortized debt discount and issuance costs, ending	3,852		3,852
Term B Loan
Debt Instrument [Line Items]
Unamortized debt discount and issuance costs, beginning			5,125
Amortization of debt discount and issuance costs			(618)
Unamortized debt discount and issuance costs, ending	$ 4,507		$ 4,507

Debt (Interest Expense) (Detail

Debt (Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Debt (Interest Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Interest Expense, Debt [Abstract]
Amortization of debt discount and issuance costs	$ 1,113	$ 1,155	$ 2,226	$ 2,310
Other	194	171	380	409
Total	13,909	16,693	28,391	32,350
Senior Secured Notes Due 2028
Interest Expense, Debt [Abstract]
Interest expense	5,568	5,568	11,136	11,136
Amortization of debt discount and issuance costs			594
Term B Loan
Interest Expense, Debt [Abstract]
Interest expense	4,819	7,321	10,302	14,576
Amortization of debt discount and issuance costs			618
Letter of Credit
Interest Expense, Debt [Abstract]
Interest expense	$ 2,215	$ 2,478	$ 4,347	$ 3,919

Debt (Additional Information) (

Debt (Additional Information) (Details) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

Jan. 17, 2025

Dec. 03, 2024

Aug. 21, 2024

Jan. 26, 2024

Jan. 25, 2024

Nov. 01, 2023

Nov. 22, 2022

Sep. 22, 2022

Apr. 11, 2022

Mar. 11, 2022

Aug. 12, 2021

Mar. 01, 2021

Jun. 30, 2022

Sep. 30, 2022

Mar. 31, 2022

Dec. 31, 2024

Dec. 13, 2024

Dec. 06, 2024

Jun. 30, 2024

Dec. 31, 2023

Line of Credit Facility [Line Items]

Repayment of long-term debt

$ 9,873

Long-term debt, gross

658,283

$ 658,283

Title IV Letter Of Credit

Line of Credit Facility [Line Items]

Letters of credit outstanding

$ 157,900

Percentage of funds received

10%

Walden Title IV Letter Of Credit

Line of Credit Facility [Line Items]

Letters of credit expired

$ 69,400

Surety Bond

Line of Credit Facility [Line Items]

Guarantor Obligations, Current Carrying Value

63,900

Letter of Credit [Member] | Title IV Letter Of Credit

Line of Credit Facility [Line Items]

Letters of credit outstanding

$ 179,000

Percentage of funds received

10%

Revolving Credit Facility

Line of Credit Facility [Line Items]

Maximum borrowing capacity

$ 400,000

Commitment fee percentage

0.25%

Undrawn amount on letters of credit

$ 301,000

Line of credit

$ 0

Amortization period

5 years

Revolving Credit Facility | Title IV Letter Of Credit

Line of Credit Facility [Line Items]

Letters of credit outstanding

$ 99,000

Revolving Credit Facility | Alternate Base Rate | Minimum

Line of Credit Facility [Line Items]

Basic spread rate

2.75%

Revolving Credit Facility | Alternate Base Rate | Maximum

Line of Credit Facility [Line Items]

Basic spread rate

3.25%

Revolving Credit Facility | SOFR

Line of Credit Facility [Line Items]

Floor rate

0.75%

Revolving Credit Facility | SOFR | Minimum

Line of Credit Facility [Line Items]

Basic spread rate

3.75%

Revolving Credit Facility | SOFR | Maximum

Line of Credit Facility [Line Items]

Basic spread rate

4.25%

Surety-Backed Letter of Credit [Member] | Title IV Letter Of Credit

Line of Credit Facility [Line Items]

Letters of credit outstanding

$ 80,000

Senior Secured Notes Due 2028 And Term B Loan

Line of Credit Facility [Line Items]

Amortization period

7 years

Senior Secured Notes Due 2028 And Term B Loan | Maximum

Line of Credit Facility [Line Items]

Total net leverage ratio

3.25

Senior Secured Notes Due 2028

Line of Credit Facility [Line Items]

Debt instrument, face amount

$ 800,000

Fixed interest rate

5.50%

Repayment of long-term debt

$ 373,300

$ 20,800

$ 900

Long-term debt, gross

$ 404,950

404,950

Percentage of notes issued on par value

100%

Redemption price, percentage of principal amount redeemed

100%

90%

92%

Senior Secured Notes Due 2028 | Accrued Liabilities

Line of Credit Facility [Line Items]

Debt Instrument, Accrued Interest

$ 7,400

7,400

Senior Secured Notes Due 2028 | 2024

Line of Credit Facility [Line Items]

Redemption price, percentage of principal amount redeemed

102.75%

Senior Secured Notes Due 2028 | 2025

Line of Credit Facility [Line Items]

Redemption price, percentage of principal amount redeemed

101.375%

Senior Secured Notes Due 2028 | 2026

Line of Credit Facility [Line Items]

Redemption price, percentage of principal amount redeemed

100%

Term B Loan

Line of Credit Facility [Line Items]

Debt instrument, face amount

$ 850,000

Fixed interest rate

7.11%

Repayment of long-term debt

$ 100,000

$ 50,000

$ 100,000

$ 396,700

Long-term debt, gross

$ 153,300

$ 253,333

Reduction in margin interest rate

(0.75%)

(0.50%)

Principal payment

$ 2,125

Debt instrument, issuance price, percent of principal amount

99%

Debt instrument, issuance discount, percent

Term B Loan | Alternate Base Rate

Line of Credit Facility [Line Items]

Basic spread rate

1.75%

Term B Loan | Alternate Base Rate | Minimum

Line of Credit Facility [Line Items]

Basic spread rate

2.50%

Term B Loan | Alternate Base Rate | Maximum

Line of Credit Facility [Line Items]

Basic spread rate

3.50%

Term B Loan | SOFR

Line of Credit Facility [Line Items]

Basic spread rate

2.75%

Floor rate

0.75%

Term B Loan | SOFR | Minimum

Line of Credit Facility [Line Items]

Basic spread rate

3.50%

Term B Loan | SOFR | Maximum

Line of Credit Facility [Line Items]

Basic spread rate

4.50%

Share Repurchases (Open Market

Share Repurchases (Open Market Share Repurchase Programs) (Details) - Maximum - USD ($) $ in Millions	Dec. 31, 2024	Jan. 19, 2024	Mar. 01, 2022
Equity, Class of Treasury Stock [Line Items]
Remaining authorized amount for repurchase	$ 140.1
March 1, 2022
Equity, Class of Treasury Stock [Line Items]
Authorized amount for repurchase			$ 300
January 19, 2024
Equity, Class of Treasury Stock [Line Items]
Authorized amount for repurchase		$ 300

Share Repurchases (Shares Repur

Share Repurchases (Shares Repurchased Under Programs) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Equity, Class of Treasury Stock [Line Items]
Total cost of share repurchases	$ 37,517	$ 69,301	$ 71,429	$ 161,186
Open Market Share Repurchase Programs
Equity, Class of Treasury Stock [Line Items]
Total number of share repurchases	471,327	1,350,735	933,390	3,509,133
Total cost of share repurchases	$ 37,517	$ 69,301	$ 71,429	$ 161,186
Average price paid per share	$ 79.6	$ 51.31	$ 76.53	$ 45.93

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Options Activity) (Details) - Stock Option $ / shares in Units, $ in Thousands	6 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of Options, Outstanding at beginning of period \| shares	550,343
Number of Options, Exercised \| shares	(267,685)
Number of Options Expired \| shares	(1,325)
Number of Options, Outstanding at end of period \| shares	281,333
Number of Options, Exercisable at end of period \| shares	238,525
Weighted Average Exercise Price at beginning of period \| $ / shares	$ 37.34
Weighted Average Exercise Price, Options Exercised \| $ / shares	36.73
Weighted Average Exercise Price, Options Expired \| $ / shares	36.46
Weighted Average Exercise Price, Outstanding at end of period \| $ / shares	37.92
Weighted Average Exercise Price, Exercisable at end of period \| $ / shares	$ 38.08
Weighted Average Remaining Contractual Life, Outstanding at end of period	5 years 9 months 18 days
Weighted Average Remaining Contractual Life, Exercisable at end of period	5 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding at End of period \| $	$ 14,890
Aggregate Intrinsic Value, Exercisable at end of period \| $	$ 12,586

Stock-Based Compensation (Addit

Stock-Based Compensation (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 10,200	$ 9,100
Capitalized stock based compensation	0		$ 0
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to non-vested awards	$ 200
Unrecognized compensation costs related to non-vested awards expected to be recognized, years	8 months 12 days
Fair value of stock options	$ 1,300	1,900
Stock Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options (in years)				10 years
Vesting Period (in years)				4 years
Common stock available for future issuance	1,610,726
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period (in years)	3 years				4 years
Unrecognized compensation costs related to non-vested awards	$ 23,800
Unrecognized compensation costs related to non-vested awards expected to be recognized, years	1 year 10 months 24 days
Fair value of units vested	$ 13,600	$ 10,700
Weighted-average grant date fair value	$ 88.98	$ 44.17
Restricted Stock Units \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Period (in years)	1 year
Performance Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term of options (in years)	3 years
Unrecognized compensation costs related to non-vested awards	$ 32,400
Unrecognized compensation costs related to non-vested awards expected to be recognized, years	1 year 9 months 18 days
Fair value of units vested	$ 2,800	$ 4,100
Weighted-average grant date fair value	$ 89.74	$ 50.07

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Restricted Stock Units Activity and Performance Stock Units) (Details) - $ / shares	6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares at beginning of period	755,841
Granted	213,030
Vested	(340,570)
Forfeited	(22,739)
Unvested shares at end of period	605,562
Weighted Average Grant Date Fair Value, Unvested beginning balance	$ 40.51
Weighted-average grant date fair value	88.98	$ 44.17
Vested	39.98
Forfeited	46.65
Weighted Average Grant Date Fair Value, Unvested ending balance	$ 57.62
Performance Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares at beginning of period	629,770
Granted	167,050
Vested	(83,357)
Forfeited	(70,643)
Unvested shares at end of period	642,820
Weighted Average Grant Date Fair Value, Unvested beginning balance	$ 43.77
Weighted-average grant date fair value	89.74	$ 50.07
Vested	33.84
Forfeited	39.94
Weighted Average Grant Date Fair Value, Unvested ending balance	$ 57.42

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jan. 17, 2025	Dec. 31, 2024	Jun. 30, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, type extensible enumeration		atge:InvestmentInRabbiTrustMember	atge:InvestmentInRabbiTrustMember
Principle balance		$ 658,283	$ 658,283
Assets measured at fair value using Level 3		0	0
Liabilities measured at fair value using Level 3		0	0
Senior Secured Notes Due 2028
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principle balance		404,950	404,950
Senior Secured Notes Due 2028 \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		397,400	389,500
Term B Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principle balance	$ 153,300	253,333	253,333
Term B Loan \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		255,100	254,900
Accounts Receivable \| Credit extension program
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans Receivable, Fair Value Disclosure		26,400	28,900
Nonqualified Deferred Compensation Plan \| Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation		12,100	12,200
Nonqualified Deferred Compensation Plan \| Prepaid Expenses and Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of credit extension programs		$ 12,800	$ 13,200

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions			1 Months Ended	5 Months Ended	6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Nov. 27, 2024 USD ($)	Sep. 21, 2023 USD ($)	Nov. 30, 2024 USD ($)	Nov. 15, 2022 item	Dec. 31, 2024 item	Jun. 30, 2024 USD ($)	Dec. 04, 2017 USD ($)
Loss Contingencies [Line Items]
Borrower defense applications (per week) \| item					500
Chamberlain
Loss Contingencies [Line Items]
Borrower defense applications \| item				3,225
RUSM
Loss Contingencies [Line Items]
Borrower defense applications \| item				1,700
RUSVM
Loss Contingencies [Line Items]
Borrower defense applications \| item				1,900
Walden
Loss Contingencies [Line Items]
Borrower defense applications \| item				7,740
Maximum \| DeVry University
Loss Contingencies [Line Items]
Indemnification \| $							$ 340
Aljanal Carroll, Claudia Provost Charles, Tiffany Fair Case
Loss Contingencies [Line Items]
Loss contingency accrual \| $						$ 28.5
Remitted \| $		$ 28.5
Payment to legal settlements \| $	$ 28.5
Laureate
Loss Contingencies [Line Items]
Litigation settlement, amount awarded from other party \| $			$ 5.6

Segment Information (Tabulation

Segment Information (Tabulation of Business Segment Information Based on Current Segmentation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Consolidated Revenue	$ 447,729	$ 393,242	$ 865,129	$ 762,087
Total consolidated adjusted operating income	101,447	75,569	177,296	138,878
Restructuring expense	(322)	(68)	(2,416)	(744)
Business integration expense		(6,909)	0	(12,171)
Litigation reserve	5,550		5,550	(18,500)
Loss on assets held for sale		(647)		(647)
Debt modification costs			(712)
Total consolidated operating income	103,870	58,612	174,108	86,806
Interest expense	(13,909)	(16,693)	(28,391)	(32,350)
Other income, net	2,235	3,563	4,881	5,777
Total consolidated income from continuing operations before income taxes	92,196	45,482	150,598	60,233
Total consolidated depreciation expense	10,190	10,043	19,993	19,381
Total consolidated intangible amortization expense	(2,805)	(9,333)	(5,610)	(20,010)
Chamberlain
Segment Reporting Information [Line Items]
Total Consolidated Revenue	180,986	153,553	348,916	296,149
Walden
Segment Reporting Information [Line Items]
Total Consolidated Revenue	171,306	146,808	332,819	288,416
Restructuring expense		776		776
Medical and Veterinary
Segment Reporting Information [Line Items]
Total Consolidated Revenue	95,437	92,881	183,394	177,522
Restructuring expense	(56)	(71)	(115)	(185)
Operating Segments \| Chamberlain
Segment Reporting Information [Line Items]
Total Consolidated Revenue	180,986	153,553	348,916	296,149
Total consolidated adjusted operating income	42,303	29,640	70,135	53,964
Total consolidated depreciation expense	5,466	4,786	10,834	8,902
Operating Segments \| Walden
Segment Reporting Information [Line Items]
Total Consolidated Revenue	171,306	146,808	332,819	288,416
Total consolidated adjusted operating income	46,153	30,155	88,795	61,270
Total consolidated depreciation expense	1,795	1,926	3,477	3,900
Total consolidated intangible amortization expense	(2,805)	(9,333)	(5,610)	(20,010)
Operating Segments \| Medical and Veterinary
Segment Reporting Information [Line Items]
Total Consolidated Revenue	95,437	92,881	183,394	177,522
Total consolidated adjusted operating income	21,519	22,091	36,249	36,568
Total consolidated depreciation expense	2,744	2,972	5,313	5,864
Home Office
Segment Reporting Information [Line Items]
Total consolidated adjusted operating income	(8,528)	(6,317)	(17,883)	(12,924)
Total consolidated depreciation expense	$ 185	$ 359	$ 369	$ 715

Segment Information (Revenues b

Segment Information (Revenues by Geographic Area) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Revenue	$ 447,729	$ 393,242	$ 865,129	$ 762,087
Domestic Operations
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Revenue	352,292	300,361	681,735	584,565
Barbados, St. Kitts, and St. Maarten
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Consolidated Revenue	$ 95,437	$ 92,881	$ 183,394	$ 177,522

Segment Information (Additional

Segment Information (Additional Information) (Details)	6 Months Ended
Segment Information (Additional Information) (Details)	Dec. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	3