$APEI
AMERICAN PUBLIC EDUCATION INC

2023 Q4 Form 10-Q Financial Statement

#000120179223000016 Filed on November 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $152.8M $150.8M
YoY Change 0.24% 0.87%
Cost Of Revenue $70.75M $73.23M
YoY Change -2.91% 1.96%
Gross Profit $82.06M $77.61M
YoY Change 3.13% -0.14%
Gross Profit Margin 53.7% 51.45%
Selling, General & Admin $58.08M $64.20M
YoY Change -16.72% -9.04%
% of Gross Profit 70.78% 82.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.076M $7.030M
YoY Change -35.57% -11.93%
% of Gross Profit 6.19% 9.06%
Operating Expenses $63.16M $64.20M
YoY Change -18.62% -9.04%
Operating Profit $18.89M $6.400M
YoY Change 867.93% -723.78%
Interest Expense -$791.0K -$792.0K
YoY Change -89.29% -77.96%
% of Operating Profit -4.19% -12.38%
Other Income/Expense, Net
YoY Change
Pretax Income $15.14M $5.608M
YoY Change -297.9% -221.39%
Income Tax $2.124M $3.712M
% Of Pretax Income 14.03% 66.19%
Net Earnings $11.48M -$3.328M
YoY Change -274.31% -11.54%
Net Earnings / Revenue 7.51% -2.21%
Basic Earnings Per Share $0.65 -$0.27
Diluted Earnings Per Share $0.64 -$0.27
COMMON SHARES
Basic Shares Outstanding 17.78M shares 17.77M shares
Diluted Shares Outstanding 17.82M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.3M $155.2M
YoY Change 11.5% -16.33%
Cash & Equivalents $116.7M $127.9M
Short-Term Investments
Other Short-Term Assets $21.59M $14.80M
YoY Change 89.26% 28.87%
Inventory
Prepaid Expenses $13.03M $14.75M
Receivables $50.97M $29.05M
Other Receivables $474.0K $4.200M
Total Short-Term Assets $217.4M $203.1M
YoY Change 16.81% -11.17%
LONG-TERM ASSETS
Property, Plant & Equipment $87.50M $98.46M
YoY Change -13.27% -1.09%
Goodwill $59.59M $59.59M
YoY Change -47.07% -47.07%
Intangibles $31.54M $32.80M
YoY Change -42.38% -45.96%
Long-Term Investments
YoY Change
Other Assets $9.986M $11.00M
YoY Change -39.56% -34.81%
Total Long-Term Assets $340.0M $352.1M
YoY Change -20.74% -18.51%
TOTAL ASSETS
Total Short-Term Assets $217.4M $203.1M
Total Long-Term Assets $340.0M $352.1M
Total Assets $557.4M $555.3M
YoY Change -9.38% -15.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.663M $7.976M
YoY Change 127.49% -69.99%
Accrued Expenses $11.48M $12.21M
YoY Change -16.74% -62.81%
Deferred Revenue $23.83M $29.20M
YoY Change 0.29% 5.8%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $73.99M $82.28M
YoY Change 4.57% -14.15%
LONG-TERM LIABILITIES
Long-Term Debt $94.68M $94.32M
YoY Change 1.64% -35.87%
Other Long-Term Liabilities $96.74M $97.30M
YoY Change -4.51% -5.01%
Total Long-Term Liabilities $94.68M $94.32M
YoY Change 1.64% -35.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.99M $82.28M
Total Long-Term Liabilities $94.68M $94.32M
Total Liabilities $265.4M $273.9M
YoY Change 0.03% -20.72%
SHAREHOLDERS EQUITY
Retained Earnings -$49.10M -$58.86M
YoY Change -453.44% -387.51%
Common Stock $299.7M $298.0M
YoY Change 2.28% 2.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $292.0M $281.4M
YoY Change
Total Liabilities & Shareholders Equity $557.4M $555.3M
YoY Change -9.38% -15.97%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $11.48M -$3.328M
YoY Change -274.31% -11.54%
Depreciation, Depletion And Amortization $5.076M $7.030M
YoY Change -35.57% -11.93%
Cash From Operating Activities -$3.146M $20.16M
YoY Change -86.34% 194.13%
INVESTING ACTIVITIES
Capital Expenditures $4.385M $2.960M
YoY Change -20.04% -17.69%
Acquisitions
YoY Change
Other Investing Activities $3.000K $120.0K
YoY Change 531.58%
Cash From Investing Activities -$4.392M -$2.830M
YoY Change -19.91% -20.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.278M -1.580M
YoY Change -88.09% -31.18%
NET CHANGE
Cash From Operating Activities -3.146M 20.16M
Cash From Investing Activities -4.392M -2.830M
Cash From Financing Activities -3.278M -1.580M
Net Change In Cash -10.82M 15.75M
YoY Change -80.7% 1505.5%
FREE CASH FLOW
Cash From Operating Activities -$3.146M $20.16M
Capital Expenditures $4.385M $2.960M
Free Cash Flow -$7.531M $17.20M
YoY Change -73.59% 427.93%

Facts In Submission

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us-gaap Net Cash Provided By Used In Operating Activities
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apei Cash Paid For Acquisition Net Of Cash Acquired
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0 usd
apei Cash Paid For Acquisition Net Of Cash Acquired
CashPaidForAcquisitionNetOfCashAcquired
1951000 usd
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4466000 usd
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us-gaap Nature Of Operations
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Nature of the Business<div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">American Public Education, Inc., or APEI, which together with its subsidiaries is referred to herein as the “Company,” is a provider of online and campus-based postsecondary education, and career learning through Graduate School USA, to students through the following subsidiary institutions:</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">American Public University System, Inc., or APUS, provides online postsecondary education directed primarily at the needs of the military, military-affiliated, public service and service-minded communities through two brands: American Military University, or AMU, and American Public University, or APU. APUS is institutionally accredited by the Higher Learning Commission, or HLC.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">Rasmussen College, LLC, which is referred to herein as Rasmussen University, or RU, provides nursing- and health sciences-focused postsecondary education to students at its 22 campuses in six states and online. RU is institutionally accredited by the HLC.</span></div><div style="padding-left:36pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">National Education Seminars, Inc., which is referred to herein as Hondros College of Nursing, or HCN, provides postsecondary nursing education to students enrolled at its eight campuses in three states. HCN is institutionally accredited by the Accrediting Bureau for Health Education Schools, or ABHES. </span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">American Public Training LLC, which is referred to herein as Graduate School USA, or GSUSA, provides career learning and leadership training in-person and online to the federal workforce. GSUSA is accredited by the Accrediting Council for Continuing Education and Training, or ACCET.</span></div><div style="padding-left:36pt;text-indent:-18pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s subsidiary institutions are licensed or otherwise authorized by state authorities to offer education programs to the extent the institutions believe such licenses or authorizations are required, and APUS, RU, and HCN are certified by the United States Department of Education, or ED, to participate in student financial aid programs authorized under Title IV of the Higher Education Act of 1965, as amended, or Title IV programs. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">    The Company’s operations are organized into the following three reportable segments:</span></div><div style="text-indent:36pt"><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">American Public University System Segment, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> APUS Segment.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This segment reflects the operational activities of APUS.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Rasmussen University Segment, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> RU Segment</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. This segment reflects the operational activities of RU.</span></div><div><span><br/></span></div><div style="padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Hondros College of Nursing Segment, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">or</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> HCN Segment.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> This segment reflects the operational activities of HCN.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjustments to reconcile segment results to the Consolidated Financial Statements are included in “Corporate and Other.” These adjustments include unallocated corporate activity and eliminations, and the operational activities of GSUSA. GSUSA operates as a stand-alone subsidiary of APEI, but does not meet the quantitative thresholds to qualify as a reportable segment, and does not have other requisite characteristics as a reportable segment. Therefore, GSUSA’s results are combined and presented within “Corporate and Other.”</span></div>Please refer to “Note 9. Segment Information” for more information on the Company’s reporting segments.
apei Number Of Brands
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us-gaap Number Of Reportable Segments
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us-gaap Use Of Estimates
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<div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In preparing financial statements in conformity with GAAP, the Company is required to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, and various other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ from those estimates under different assumptions or conditions, and the impact of such differences may be material to the Consolidated Financial Statements.</span></div>
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3762000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3762000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-64769000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-64769000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-108458000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-108458000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17778000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18885000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18230000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18854000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.55
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.75
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-4853000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3762000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-64769000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-108458000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17778000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18885000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18230000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18854000 shares
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
42000 shares
CY2022Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
42000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
64000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17820000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18927000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18294000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18906000 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.74
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1058085000 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
748671000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1058534000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
716639000 shares
CY2023Q3 apei Debt Instrument Covenant Maximum Total Net Leverage Ratio
DebtInstrumentCovenantMaximumTotalNetLeverageRatio
2.0
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
94316000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
93151000 usd
CY2023Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0 usd
CY2023Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
94316000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
93151000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
99063000 usd
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
99063000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
300000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
1300000 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
150838000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
149535000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
447741000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
453890000 usd
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7026000 usd
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
7982000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
22735000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
24249000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
6400000 usd
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1026000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-64238000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-137086000 usd
CY2023Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-792000 usd
CY2022Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-3594000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-3668000 usd
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-10339000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-860000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-35152000 usd
CY2023Q3 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
2952000 usd
CY2022Q3 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
3596000 usd
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
9505000 usd
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
10905000 usd
CY2023Q3 us-gaap Assets
Assets
555271000 usd
CY2022Q4 us-gaap Assets
Assets
615056000 usd
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.1539
CY2023Q3 us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
1500000 usd
us-gaap Dividends Preferred Stock Cash
DividendsPreferredStockCash
4500000 usd
CY2023Q3 apei Preferred Stock Liquidation Preference Senior Including Accrued And Unpaid Dividends
PreferredStockLiquidationPreferenceSeniorIncludingAccruedAndUnpaidDividends
40072000 usd
CY2022Q4 apei Preferred Stock Liquidation Preference Senior Including Accrued And Unpaid Dividends
PreferredStockLiquidationPreferenceSeniorIncludingAccruedAndUnpaidDividends
40069000 usd
CY2023Q3 apei Preferred Stock Liquidation Preference Make Whole Payment
PreferredStockLiquidationPreferenceMakeWholePayment
14163000 usd
CY2022Q4 apei Preferred Stock Liquidation Preference Make Whole Payment
PreferredStockLiquidationPreferenceMakeWholePayment
19251000 usd
CY2023Q3 apei Preferred Stock Liquidation Preference Early Redemption Premium
PreferredStockLiquidationPreferenceEarlyRedemptionPremium
2915000 usd
CY2022Q4 apei Preferred Stock Liquidation Preference Early Redemption Premium
PreferredStockLiquidationPreferenceEarlyRedemptionPremium
2915000 usd
CY2023Q3 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
57150000 usd
CY2022Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
62235000 usd
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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