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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
REVENUE:        
Total revenue $ 169,828 $ 179,923 $ 504,832 $ 562,085
OPERATING EXPENSES:        
Educational services and facilities 28,287 33,502 85,661 100,101
General and administrative 93,694 92,054 270,487 305,328
Depreciation and amortization 3,053 3,914 9,138 13,438
Asset impairment   7,380 2,468 8,715
Total operating expenses 125,034 136,850 367,754 427,582
Operating income 44,794 43,073 137,078 134,503
OTHER INCOME:        
Interest income 7,702 5,210 21,685 13,559
Interest expense (82) (97) (529) (288)
Miscellaneous (expense) income (52) (98) (7) 21,970
Total other income 7,568 5,015 21,149 35,241
PRETAX INCOME 52,362 48,088 158,227 169,744
Provision for income taxes 14,107 6,781 42,101 39,280
NET INCOME $ 38,255 $ 41,307 $ 116,126 $ 130,464
NET INCOME PER SHARE - BASIC: $ 0.58 $ 0.63 $ 1.77 $ 1.95
NET INCOME PER SHARE - DILUTED: $ 0.57 $ 0.62 $ 1.73 $ 1.92
WEIGHTED AVERAGE SHARES OUTSTANDING:        
Basic 65,699 65,634 65,622 66,758
Diluted 67,312 67,103 67,110 68,072
Tuition and Fees, Net [Member]        
REVENUE:        
Total revenue $ 168,442 $ 178,259 $ 500,844 $ 556,098
Other [Member]        
REVENUE:        
Total revenue [1] $ 1,386 $ 1,664 $ 3,988 $ 5,987
[1] Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.