XML 21 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 12,740 $ 14,570
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,158 4,788
Stock-based compensation 2,407 2,940
Provision for doubtful accounts 866 717
Deferred income tax provision 870 870
Changes in:    
Accounts receivable (3,473) (10,304)
Inventories (5,278) 1,285
Prepaid expenses and other current assets (2,205) (111)
Other assets (790) (2,830)
Accounts payable 1,957 1,340
Accrued expenses (4,122) (10,672)
Deferred tuition revenue 6,053 3,031
Deferred revenue 4,996 8,496
Deferred rent 84 (249)
Gift certificate liability (935) (730)
Net cash provided by operating activities 18,328 13,141
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (3,792) (4,271)
Post-closing working capital adjustments related to acquisitions   3,614
Net cash used in investing activities (3,792) (657)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Purchase of treasury shares (2,554) (808)
Payments for long-term debt (16,188) (14,125)
Proceeds from share option exercises   354
Net cash used in financing activities (18,742) (14,579)
EFFECT OF EXCHANGE RATE CHANGES ON CASH 788 (344)
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,418) (2,439)
CASH AND CASH EQUIVALENTS, Beginning of period 75,028 62,645
CASH AND CASH EQUIVALENTS, End of period 71,610 60,206
Cash paid during the period for:    
Interest 1,052 1,318
Income taxes $ 1,112 $ 1,962