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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 12,203 $ 22,249
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of property and equipment (2,136) 0
Amortization of deferred financing costs 276 276
Amortization of investment discount/premium (7) 28
Depreciation and amortization 30,196 33,436
Deferred income taxes (3,036) (4,909)
Stock-based compensation 11,125 10,597
Impairment of right-of-use lease assets 5,135 1,121
Changes in assets and liabilities:    
Tuition receivable, net (19,626) (25,162)
Other assets (12,165) (2,354)
Accounts payable and accrued expenses (2,344) (8,113)
Income taxes payable and income taxes receivable (16,699) 4,913
Contract liabilities 38,906 51,901
Other liabilities (1,091) (3,307)
Net cash provided by operating activities 40,737 80,676
Cash flows from investing activities:    
Purchases of property and equipment (17,794) (22,688)
Purchases of marketable securities (16,904) 0
Proceeds from marketable securities 4,960 2,100
Proceeds from sale of property and equipment 5,890 0
Proceeds from other investments 457 0
Other investments (152) (223)
Cash paid for acquisition, net of cash acquired (211) 0
Net cash used in investing activities (23,754) (20,811)
Cash flows from financing activities:    
Common dividends paid (29,468) (29,886)
Net payments for stock awards (4,964) (2,881)
Repurchase of common stock (9,999) (24,972)
Net cash used in financing activities (44,431) (57,739)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,924) (4,981)
Net decrease in cash, cash equivalents, and restricted cash (29,372) (2,855)
Cash, cash equivalents, and restricted cash — beginning of period 227,454 279,212
Cash, cash equivalents, and restricted cash — end of period 198,082 276,357
Non-cash transactions:    
Non-cash additions to property and equipment 2,090 1,239
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 7,230 $ 1,518