Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Schedule of cash, cash equivalents, and restricted cash

The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows as of March 31, 2020 and 2021 (in thousands):

	As of March 31,
	2020		2021
Cash and cash equivalents	$	442,845	$	238,290
Restricted cash included in other current assets	850		13,249
Restricted cash included in other assets	500		500
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	444,195	$	252,039

Schedule of tuition receivable and allowance for credit losses

The Company’s tuition receivable and allowance for credit losses were as follows as of December 31, 2020 and March 31, 2021 (in thousands):

	December 31, 2020		March 31, 2021
Tuition receivable	$	99,942	$	112,648
Allowance for credit losses	(49,773)		(49,179)
Tuition receivable, net	$	50,169	$	63,469

Schedule of allowance for credit losses

The following table illustrates changes in the Company’s allowance for credit losses for the three months ended March 31, 2020 and 2021 (in thousands).

	For the three months ended March 31,
	2020		2021
Allowance for credit losses, beginning of period	$	30,931	$	49,773
Impact of adopting ASC 326	4,571		—
Additions charged to expense	11,171		10,822
Write-offs, net of recoveries	(8,579)		(11,416)
Allowance for credit losses, end of period	$	38,094	$	49,179

Schedule of reconciliation of shares used to calculate basic and diluted earnings per share

Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for the three months ended March 31, 2020 and 2021 (in thousands):

	For the three months ended March 31,
	2020	2021
Weighted average shares outstanding used to compute basic earnings per share	21,810	23,974
Incremental shares issuable upon the assumed exercise of stock options	21	7
Unvested restricted stock and restricted stock units	240	172
Shares used to compute diluted earnings per share	22,071	24,153
Anti-dilutive shares excluded from the diluted earnings per share calculation	3	118