Business Combinations (Tables)

12 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocated to Assets Acquired and Liabilities Assumed at Fair Value

The 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 receivable	24,447
Other current assets	17,713
Property and equipment, net	41,508
Right-of-use lease assets	44,229
Intangible assets	103,161
Goodwill	546,315
Other assets	2,799
Total assets acquired	796,254
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 Value		Weighted Average Useful Life in Years
Trade names	$	68,774	Indefinite
Student relationships	34,387		3
	$	103,161

Schedule of Supplemental Pro Forma Financial Information

The following table presents the Company's pro forma combined revenues and net income (in thousands). Pro forma results for the year ended December 31, 2021 are not presented below because the results of ANZ are included in the Company's December 31, 2021 consolidated statement of income.

	Pro Forma Combined
	Year Ended December 31, 2019		Year Ended December 31, 2020
Revenue	$	1,188,269	$	1,244,440
Net Income	69,446		105,431