Merger with Capella Education Company (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of components of aggregate consideration transferred for acquisition

The following table summarizes the components of the aggregate consideration transferred for the acquisition of CEC (in thousands):



Fair value of Company common stock issued in exchange for CEC outstanding shares⁽¹⁾	$	1,209,483
Fair value of Company equity-based awards issued in exchange for CEC equity-based awards	27,478
Total fair value of consideration transferred	$	1,236,961

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⁽¹⁾

The Company issued 10,263,775 common shares at a market price of $117.84 in exchange for each issued and outstanding share of CEC common stock.

Schedule of preliminary fair value of assets and liabilities assumed

The preliminary fair value of assets acquired and liabilities assumed, as well as a reconciliation to consideration transferred, is presented in the table below (in thousands):



Cash and cash equivalents	$	167,859
Marketable securities	31,419
Tuition receivable	36,716
Income taxes receivable	163
Other current assets	9,041
Marketable securities, non-current	34,700
Property and equipment, net	53,182
Other assets	14,556
Intangible assets	349,800
Goodwill	725,304
Total assets acquired	1,422,740
Accounts payable and accrued expenses	(47,763		)
Contract liabilities	(39,000		)
Deferred income taxes	(96,689		)
Other long term liabilities	(2,327		)
Total liabilities assumed	(185,779		)
Total consideration	$	1,236,961

Schedule of intangible assets acquired and weighted average useful lives

The table below presents a summary of intangible assets acquired (in thousands) and the weighted average useful lives of these assets:



	Fair Value		Weighted Average Useful Life in Years
Trade names	$	183,800	Indefinite
Student relationships	166,000		3
	$	349,800