Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

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, 2021 and 2022 (in thousands):

	As of March 31,
	2021		2022
Cash and cash equivalents	$	238,290	$	293,419
Restricted cash included in other current assets	13,249		13,396
Restricted cash included in other assets	500		500
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	252,039	$	307,315

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, 2021 and March 31, 2022 (in thousands):

	December 31, 2021		March 31, 2022
Tuition receivable	$	100,060	$	109,690
Allowance for credit losses	(48,783)		(44,892)
Tuition receivable, net	$	51,277	$	64,798

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, 2021 and 2022 (in thousands).

	For the three months ended March 31,
	2021		2022
Allowance for credit losses, beginning of period	$	49,773	$	48,783
Additions charged to expense	10,822		7,217
Write-offs, net of recoveries	(11,416)		(11,108)
Allowance for credit losses, end of period	$	49,179	$	44,892

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, 2021 and 2022 (in thousands):

	For the three months ended March 31,
	2021	2022
Weighted average shares outstanding used to compute basic earnings per share	23,974	23,948
Incremental shares issuable upon the assumed exercise of stock options	7	2
Unvested restricted stock and restricted stock units	172	164
Shares used to compute diluted earnings per share	24,153	24,114
Anti-dilutive shares excluded from the diluted earnings per share calculation	118	420