Quarterly report pursuant to Section 13 or 15(d)

Revenue Recognition

Revenue Recognition

6 Months Ended

Jun. 30, 2020

Revenue Recognition and Deferred Revenue [Abstract]

Note 11 - Revenue Recognition

We recognize revenue when our customers obtain control of promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services, in accordance with implemented Topic 606 - an update to Topic 605. Revenue amounts presented in our condensed consolidated financial statements are recognized net of sales tax, value-added taxes, and other taxes.

In the normal course of business, we recognize revenue based on the customers' attendance of the course, mentoring training, coaching session or delivery of the software, data or course materials on-line. After a customer contract expires, we record breakage revenue less a reserve for cases where we allow a customer to attend after expiration. As of June 30, 2020, we have deferred revenue of $28.0 million related to contractual commitments with customers where the performance obligation will be satisfied over time, which ranges from six to eighteen months. The revenue associated with these performance obligations is recognized as the obligation is satisfied. As of June 30, 2020, we maintain a reserve for breakage of $2.2 million for the fulfillment of our obligation to students whose contracts expired during our COVID-19 60-day operational hiatus during Q2 (see Note 1 "General").

The following tables disaggregate our segment revenue by revenue source:

	Three Months Ended June 30, 2020								Three Months Ended June 30, 2019
Revenue Type:	North America		U.K.		Other foreign markets		Total Consolidated Revenue		North America		U.K.		Other foreign markets		Total Consolidated Revenue
	(In thousands)								(In thousands)
Seminars		4,909		138		2,251		7,298		8,532		452		1,990		10,974
Products		—		—		—		—		2,702		172		1,421		4,295
Coaching and Mentoring		85		—		—		85		1,400		33		1,330		2,763
Online and Subscription		372		—		30		402		430		—		79		509
Other		—		—		—		—		916		40		—		956
Total revenue		5,366		138		2,281		7,785		13,980		697		4,820		19,497

	Six Months Ended June 30, 2020								Six Months Ended June 30, 2019
Revenue Type:	North America		U.K.		Other foreign markets		Total Consolidated Revenue		North America		U.K.		Other foreign markets		Total Consolidated Revenue
	(In thousands)								(In thousands)
Seminars		11,064		410		3,264		14,738		16,885		1,679		4,160		22,724
Products		407		—		—		407		5,484		535		1,801		7,820
Coaching and Mentoring		1,059		—		227		1,286		2,799		128		2,495		5,422
Online and Subscription		950		—		101		1,051		928		1		149		1,078
Other		423		—		—		423		2,871		40		—		2,911
Total revenue		13,903		410		3,592		17,905		28,967		2,383		8,605		39,955