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The Troubled Teen Industry / Greetings to all Netflix users!
« on: March 06, 2024, 02:30:47 PM »
It's not as bad as you think it is.
It's worse. It's waaaaaaaay fucking worse.
It's worse. It's waaaaaaaay fucking worse.
Fornits Home for Wayward Web Fora
An open discussion about the troubled parent industry
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The operations and enrollment of the Aspen programs within our healthy living division are highest in the summer months. Additionally, the Aspen programs have limited leading indicators regarding performance. As a result, we have more information in late summer and early fall around Aspen’s performance, which came in below the performance levels expected in July and August 2010. At the end of the third quarter of 2010, we reviewed actual results for graduation, admissions, and average length of stay in the Aspen programs relative to its prior forecast and fiscal year budget. In response to negative results in these areas, we further lowered our view of forecasted future cash flows for the Aspen programs within our healthy living division. As a result, for the three months ended September 30, 2010, we recognized non-cash charges related to goodwill impairment and asset impairment for Aspen in the amount of $9.1 million and $2.5 million, respectively. For the nine months ended September 30, 2010, we had recognized non-cash charges related to goodwill and asset impairment of $52.7 million and $20.5 million, respectively, for the healthy living division including Aspen.