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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income (loss) $ 29,702 $ (2,028)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Gain on early termination of operating leases (6,166) 0
Amortization of deferred financing costs 140 138
Amortization of investment discount/premium (27) 3
Depreciation and amortization 11,069 14,651
Deferred income taxes 2,406 1,872
Stock-based compensation 5,329 5,632
Impairment of right-of-use lease assets 0 3,649
Changes in assets and liabilities:    
Tuition receivable, net (7,183) (8,892)
Other assets (7,950) (10,891)
Accounts payable and accrued expenses 6,218 1,831
Income taxes payable and income taxes receivable 8,586 (4,613)
Contract liabilities 36,035 34,035
Other liabilities (529) (145)
Net cash provided by operating activities 77,630 35,242
Cash flows from investing activities:    
Purchases of property and equipment (9,188) (8,270)
Purchases of marketable securities 0 (17,103)
Proceeds from marketable securities 8,220 1,960
Proceeds from other investments 0 457
Other investments (34) (118)
Cash paid for acquisition, net of cash acquired 0 (211)
Net cash used in investing activities (1,002) (23,285)
Cash flows from financing activities:    
Common dividends paid (14,734) (14,755)
Net payments for stock awards (3,686) (4,964)
Net cash used in financing activities (18,420) (19,719)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (2,305) (887)
Net increase (decrease) in cash, cash equivalents, and restricted cash 55,903 (8,649)
Cash, cash equivalents, and restricted cash — beginning of period 181,925 227,454
Cash, cash equivalents, and restricted cash — end of period 237,828 218,805
Non-cash transactions:    
Non-cash additions to property and equipment 3,002 1,447
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 3,616 $ 5,124