Stock Options, Restricted Stock and Restricted Stock Units (Tables)

9 Months Ended

Sep. 30, 2017

Stock Options, Restricted Stock and Restricted Stock Units [Abstract]

Schedule of restricted stock and restricted stock units activity

	Number of shares or units	Weighted- average Grant price
Balance, December 31, 2016	727,100	$	97.53
Grants	75,140		82.18
Vested shares	(84,718)		66.60
Forfeitures	(1,204)		62.28
Balance, September 30, 2017	716,318	$	99.64

Schedule of stock option activity and other stock option information

				Weighted-
				average
		Weighted-		remaining	Aggregate
	Numberof	average		contractual	intrinsic value(1)
	shares	exerciseprice		life (years)	(in thousands)
Balance, December 31, 2016	100,000	$	51.95	4.1	$	2,868
Grants	—		—
Exercises	—		—
Forfeitures/Expirations	—		—
Balance, September 30, 2017	100,000	$	51.95	3.3	$	3,532
Exercisable, September 30, 2017	100,000	$	51.95	3.3	$	3,532

⁽¹⁾ The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company’s common stock.

Schedule of stock-based compensation expense

	For the three months ended				For the nine months ended
	September 30,				September 30,
	2016		2017		2016		2017
Instruction and educational support	$	522	$	548	$	678	$	1,363
Marketing		—		—		—		—
Admissions advisory		—		—		—		—
General and administration		1,882		2,366		6,652		7,206
Stock-based compensation expense included in operating expense		2,404		2,914		7,330		8,569
Tax benefit		957		1,151		2,857		3,384
Stock-based compensation expense, net of tax	$	1,447	$	1,763	$	4,473	$	5,185