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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 29,744 $ 29,702
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on early termination of operating leases, net 0 (6,166)
Amortization of deferred financing costs 106 140
Amortization of investment discount/premium (86) (27)
Depreciation and amortization 11,195 11,069
Deferred income taxes 3,076 2,406
Stock-based compensation 5,471 5,329
Impairment of right-of-use lease assets 79 0
Changes in assets and liabilities:    
Tuition receivable, net (13,385) (7,183)
Other assets (11,434) (7,950)
Accounts payable and accrued expenses 492 6,218
Income taxes payable and income taxes receivable 7,234 8,586
Contract liabilities 37,815 36,035
Other liabilities (2,651) (529)
Net cash provided by operating activities 67,656 77,630
Cash flows from investing activities:    
Purchases of property and equipment (10,318) (9,188)
Purchases of marketable securities (25,635) 0
Proceeds from marketable securities 34,342 8,220
Other investments (90) (34)
Net cash used in investing activities (1,701) (1,002)
Cash flows from financing activities:    
Common dividends paid (14,797) (14,734)
Net payments for stock awards (9,273) (3,686)
Repurchase of common stock (32,025) 0
Net cash used in financing activities (56,095) (18,420)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 68 (2,305)
Net increase in cash, cash equivalents, and restricted cash 9,928 55,903
Cash, cash equivalents, and restricted cash — beginning of period 146,656 181,925
Cash, cash equivalents, and restricted cash — end of period 156,584 237,828
Non-cash transactions:    
Non-cash additions to property and equipment 2,087 3,002
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 677 $ 3,616