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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net income $ 9,577 $ 35,239
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs 138 83
Amortization of investment discount/premium 24 65
Depreciation and amortization 34,571 25,733
Deferred income taxes (8,898) (2,108)
Stock-based compensation 3,900 3,025
Impairment of right-of-use lease assets 14,388 453
Changes in assets and liabilities:    
Tuition receivable, net (13,417) 3,553
Other assets (9,897) (3,090)
Accounts payable and accrued expenses (10,276) (7,028)
Income taxes payable and income taxes receivable 12,777 12,314
Contract liabilities 46,872 1,901
Other liabilities (978) (1,445)
Net cash provided by operating activities 78,781 68,695
Cash flows from investing activities:    
Purchases of property and equipment (12,650) (14,258)
Purchases of marketable securities 0 (1,863)
Proceeds from marketable securities 1,930 9,905
Other investments (72) (118)
Net cash used in investing activities (10,792) (6,334)
Cash flows from financing activities:    
Common dividends paid (14,778) (13,327)
Net payments for stock awards (2,326) (25,089)
Repurchase of common stock 0 (247)
Net cash used in financing activities (17,104) (38,663)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (866) 0
Net increase in cash, cash equivalents, and restricted cash 50,019 23,698
Cash, cash equivalents, and restricted cash — beginning of period 202,020 420,497
Cash, cash equivalents, and restricted cash — end of period 252,039 444,195
Noncash transactions:    
Non-cash additions to property and equipment 7,526 1,392
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 46,147 $ 3,504