XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 35,909 $ 14,655
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs 167 131
Amortization of investment discount/premium 220 0
Depreciation and amortization 52,497 9,915
Deferred income taxes 9,909 (1,581)
Stock-based compensation 6,576 5,937
Impairment of intangible assets 0 6,185
Changes in assets and liabilities:    
Tuition receivable, net 5,777 (2,916)
Other current assets (1,304) 96
Other assets 64 (824)
Accounts payable and accrued expenses 229 1,363
Income taxes payable and income taxes receivable (10,673) (3,447)
Contract liabilities 4,778 2,768
Other long-term liabilities (1,086) (2,256)
Net cash provided by operating activities 103,063 30,026
Cash flows from investing activities:    
Purchases of property and equipment (18,859) (8,596)
Purchases of marketable securities (12,443) 0
Maturities of marketable securities 22,560 0
Other investments (740) 0
Net cash used in investing activities (9,482) (8,596)
Cash flows from financing activities:    
Common dividends paid (22,194) (5,778)
Taxes paid for stock awards (7,607) 0
Net cash used in financing activities (29,801) (5,778)
Net increase in cash, cash equivalents, and restricted cash 63,780 15,652
Cash, cash equivalents, and restricted cash — beginning of period 312,237 156,448
Cash, cash equivalents, and restricted cash — end of period 376,017 172,100
Noncash transactions:    
Purchases of property and equipment included in accounts payable $ 840 $ 1,252