XML 27 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:  
Net income$ 38,625$ 31,368
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization11,39611,233
Stock-based compensation8,0836,091
Provision for doubtful accounts1,328963
Deferred income tax provision1,4961,476
Changes in:  
Accounts receivable(6,845)(12,531)
Inventories(8,208)(17,460)
Prepaid expenses and other current assets(3,717)(3,308)
Other assets7631,163
Accounts payable5,1915,654
Accrued expenses(1,277)(4,756)
Income taxes payable(289)(1,127)
Deferred tuition revenue1,2987,465
Deferred rent165447
Gift certificate liability(1,052)(410)
Net cash provided by operating activities46,95726,268
CASH FLOWS FROM INVESTING ACTIVITIES:  
Capital expenditures(7,325)(5,369)
Acquisition, net of cash acquired(2,357)0
Post-closing working capital adjustments related to acquisition04,013
Net cash used in investing activities(9,682)(1,356)
CASH FLOWS FROM FINANCING ACTIVITIES:  
Purchase of treasury shares(6,592)(3,862)
Payments of long-term debt(25,000)(31,750)
Proceeds from share option exercises2,6701,617
Net cash used in financing activities(28,922)(33,995)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS(366)(621)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS7,987(9,704)
CASH AND CASH EQUIVALENTS, Beginning of period61,73152,851
CASH AND CASH EQUIVALENTS, End of period69,71843,147
Cash paid during the period for:  
Interest3271,596
Income taxes$ 3,434$ 4,693