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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net income (loss) $ 81,138 $ (15,671) $ 20,612
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Amortization of gain on sale of assets 0 0 (133)
Amortization of deferred financing costs 333 292 262
Amortization of investment discount/premium 296 298 0
Depreciation and amortization 104,861 54,543 18,733
Deferred income taxes (8,037) (16,322) 6,429
Stock-based compensation 12,160 15,532 11,627
Fair value adjustments and impairment of intangible assets 0 19,909 (7,512)
Impairment of right-of-use lease assets 6,046    
Changes in assets and liabilities:      
Tuition receivable, net 1,770 7,880 (3,250)
Other current assets (1,589) 3,768 (526)
Other assets (540) (135) 1,582
Accounts payable and accrued expenses 245 1,140 4,468
Income taxes payable and income taxes receivable 1,198 (516) (629)
Contract liabilities 7,716 (19,329) 8,212
Other long-term liabilities (3,451) (4,522) (3,718)
Net cash provided by operating activities 202,146 46,867 56,157
Cash flows from investing activities:      
Net cash acquired in acquisition 0 167,859 0
Purchases of property and equipment (38,689) (27,547) (18,051)
Purchases of marketable securities (40,481) (25,304) 0
Maturities of marketable securities 43,762 16,367 0
Other investments (2,658) (1,238) 0
Net cash provided by (used in) investing activities (38,066) 130,137 (18,051)
Cash flows from financing activities:      
Common dividends paid (46,625) (27,842) (11,416)
Net payments for stock awards (9,195) 7,789 0
Payment of deferred financing costs 0 (1,162) 0
Net cash used in financing activities (55,820) (21,215) (11,416)
Net increase in cash, cash equivalents, and restricted cash 108,260 155,789 26,690
Cash, cash equivalents, and restricted cash - beginning of period 312,237 156,448 129,758
Cash, cash equivalents, and restricted cash - end of period 420,497 312,237 156,448
Noncash transactions:      
Purchases of property and equipment included in accounts payable $ 3,406 $ 1,029 $ 1,734