Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2021 and 2022 (in thousands):

	As of September 30,
	2021		2022
Cash and cash equivalents	$	274,774	$	262,757
Restricted cash included in other current assets	11,559		15,145
Restricted cash included in other assets	500		500
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	286,833	$	278,402

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 September 30, 2022 (in thousands):

	December 31, 2021		September 30, 2022
Tuition receivable	$	100,060	$	126,616
Allowance for credit losses	(48,783)		(44,940)
Tuition receivable, net	$	51,277	$	81,676

Schedule of Allowance for Credit Losses

The following table illustrates changes in the Company’s allowance for credit losses for the three and nine months ended September 30, 2021 and 2022 (in thousands).

	For the three months ended September 30,				For the nine months ended September 30,
	2021		2022		2021		2022
Allowance for credit losses, beginning of period	$	49,591	$	43,507	$	49,773	$	48,783
Additions charged to expense	10,291		11,895		30,850		27,899
Write-offs, net of recoveries	(10,604)		(10,462)		(31,345)		(31,742)
Allowance for credit losses, end of period	$	49,278	$	44,940	$	49,278	$	44,940

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 and nine months ended September 30, 2021 and 2022 (in thousands):

	For the three months ended September 30,		For the nine months ended September 30,
	2021	2022	2021	2022
Weighted average shares outstanding used to compute basic earnings per share	23,948	23,550	23,966	23,765
Incremental shares issuable upon the assumed exercise of stock options	4	3	5	3
Unvested restricted stock and restricted stock units	161	349	160	258
Shares used to compute diluted earnings per share	24,113	23,902	24,131	24,026
Anti-dilutive shares excluded from the diluted earnings per share calculation	377	11	293	149