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Acquisition of Torrens University and Associated Assets in Australia and New Zealand (Tables)
6 Months Ended
Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of preliminary fair value of assets and liabilities assumed
The preliminary fair value of assets acquired and liabilities assumed as well as a reconciliation to consideration transferred is presented in the table below (in thousands):
Cash and cash equivalents$16,082 
Tuition receivable24,447 
Other current assets17,713 
Property and equipment, net41,508 
Right-of-use lease assets44,229 
Intangible assets103,161 
Goodwill546,315 
Other assets2,799 
Total assets acquired796,254 
Accounts payable and accrued expenses(33,876)
Income taxes payable(229)
Contract liabilities(33,309)
Lease liabilities(9,685)
Deferred income taxes(18,712)
Lease liabilities, non-current(34,544)
Other long-term liabilities(7,520)
Total liabilities assumed(137,875)
Total consideration$658,379 
Schedule of intangible assets acquired and weighted average useful lives
The table below presents a summary of intangible assets acquired (in thousands) and the weighted average useful lives of these assets:
 Fair ValueWeighted Average
Useful Life in Years
Trade names$68,774 Indefinite
Student relationships34,387 3
 $103,161