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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) $ 86,268 $ 81,138 $ (15,671)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Amortization of deferred financing costs 466 333 292
Amortization of investment discount/premium 146 296 298
Depreciation and amortization 109,154 104,861 54,543
Deferred income taxes (13,431) (8,037) (16,322)
Stock-based compensation 14,610 12,160 15,532
Impairment of right-of-use lease assets 848 6,046 0
Impairment of intangible assets 0 0 19,909
Changes in assets and liabilities:      
Tuition receivable, net 19,659 1,770 7,880
Other assets (32,326) (2,129) 3,633
Accounts payable and accrued expenses (22,685) 245 1,140
Income taxes payable and income taxes receivable (4,020) 1,198 (516)
Contract liabilities (10,095) 7,716 (19,329)
Other long-term liabilities (5,689) (3,451) (4,522)
Net cash provided by operating activities 142,905 202,146 46,867
Cash flows from investing activities:      
Cash paid for acquisition, net of cash acquired (628,759) 0 167,859
Purchases of property and equipment (46,812) (38,689) (27,547)
Purchases of marketable securities (1,863) (40,481) (25,304)
Proceeds from marketable securities 36,192 43,762 16,367
Other investments (950) (2,658) (1,238)
Net cash provided by (used in) investing activities (642,192) (38,066) 130,137
Cash flows from financing activities:      
Net proceeds from issuance of common stock 220,248 0 0
Proceeds from long-term debt 145,630 0 0
Common dividends paid (55,956) (46,625) (27,842)
Net payments for stock awards (24,741) (9,195) 7,789
Payments on long-term debt (3,807) 0 0
Payment of deferred financing costs (1,940) 0 (1,162)
Repurchase of common stock (247) 0 0
Net cash provided by (used in) financing activities 279,187 (55,820) (21,215)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1,623 0 0
Net increase (decrease) in cash, cash equivalents, and restricted cash (218,477) 108,260 155,789
Cash, cash equivalents, and restricted cash - beginning of period 420,497 312,237 156,448
Cash, cash equivalents, and restricted cash - end of period 202,020 420,497 312,237
Noncash transactions:      
Non-cash additions to property and equipment $ 4,079 $ 5,562 $ 1,029