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Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
REVENUE:      
Tuition and fees $ 700,525 $ 842,062 $ 905,482
Other 3,867 5,211 8,482
Total revenue [1] 704,392 847,273 913,964
OPERATING EXPENSES:      
Educational services and facilities 235,100 289,777 323,259
General and administrative 477,725 564,211 640,454
Depreciation and amortization [1] 22,747 24,938 53,382
Asset impairment 1,164 60,515 36,141
Total operating expenses 736,736 939,441 1,053,236
Operating loss [1] (32,344) (92,168) (139,272)
OTHER INCOME (EXPENSE):      
Interest income 1,262 794 851
Interest expense (584) (835) (491)
Loss on sale of business   (1,793)  
Miscellaneous income (expense) 300 (436) 86
Total other income (expense) 978 (2,270) 446
PRETAX LOSS (31,366) (94,438) (138,826)
(Benefit from) provision for income taxes (16,550) (147,454) 3,736
(LOSS) INCOME FROM CONTINUING OPERATIONS (14,816) 53,016 (142,562)
LOSS FROM DISCONTINUED OPERATIONS, net of tax (3,896) (1,131) (35,601)
NET (LOSS) INCOME (18,712) 51,885 (178,163)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:      
Foreign currency translation adjustments (77)    
Unrealized gains (losses) on investments 699 (27) (350)
Total other comprehensive income (loss) 622 (27) (350)
COMPREHENSIVE (LOSS) INCOME $ (18,090) $ 51,858 $ (178,513)
NET (LOSS) INCOME PER SHARE - BASIC and DILUTED:      
(Loss) income from continuing operations $ (0.22) $ 0.78 $ (2.12)
Loss from discontinued operations (0.05) (0.02) (0.53)
Net (loss) income per share $ (0.27) $ 0.76 $ (2.65)
WEIGHTED AVERAGE SHARES OUTSTANDING:      
Basic 68,373 [2] 67,860 67,173 [2]
Diluted 68,373 [2] 68,328 67,173 [2]
[1] The statement of (loss) income and comprehensive (loss) income balances including revenue, operating (loss) income and depreciation and amortization are presented above on a continuing operations basis. Total assets and capital expenditures are presented on a consolidated basis including continuing and discontinued operations.
[2] Due to the fact that we reported a loss from continuing operations for the years ended December 31, 2016 and 2014, potential common stock equivalents were excluded from the diluted common shares outstanding calculation. Per FASB ASC Topic 260 – Earnings per Share, an entity that reports discontinued operations shall use income or loss from continuing operations as the benchmark for calculating diluted common shares outstanding, and as such, we have zero common stock equivalents since these shares would have an anti-dilutive effect on our net loss per share for the years ended December 31, 2016 and 2014.