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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 38,898 $ 49,507
Restricted cash 1,375 1,375
Restricted short-term investments 7,097 8,597
Short-term investments 124,702 147,681
Total cash and cash equivalents, restricted cash and short-term investments 172,072 207,160
Student receivables, net of allowance for doubtful accounts of $22,542 and $21,376 as of June 30, 2017 and December 31, 2016, respectively 21,389 22,825
Receivables, other, net 1,163 929
Prepaid expenses 13,335 14,446
Inventories 877 1,868
Other current assets 791 817
Assets of discontinued operations 100 148
Total current assets 209,727 248,193
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $368,933 and $381,415 as of June 30, 2017 and December 31, 2016, respectively 35,434 40,512
Goodwill 87,356 87,356
Intangible assets, net of amortization of $1,200 and $800 as of June 30, 2017 and December 31, 2016, respectively 8,100 8,500
Student receivables, net of allowance for doubtful accounts of $2,032 and $1,766 as of June 30, 2017 and December 31, 2016, respectively 2,780 3,055
Deferred income tax assets, net 149,528 158,272
Other assets 7,563 7,608
Assets of discontinued operations 5,987 6,105
TOTAL ASSETS [1] 506,475 559,601
CURRENT LIABILITIES:    
Accounts payable 10,414 10,099
Accrued expenses:    
Payroll and related benefits 31,485 41,203
Advertising and marketing costs 10,196 10,253
Income taxes 2,098 1,830
Other 32,923 69,244
Deferred tuition revenue 27,230 28,364
Liabilities of discontinued operations 6,667 8,219
Total current liabilities 121,013 169,212
NON-CURRENT LIABILITIES:    
Deferred rent obligations 23,879 30,713
Other liabilities 23,421 31,751
Liabilities of discontinued operations 3,214 6,422
Total non-current liabilities 50,514 68,886
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 300,000,000 shares authorized; 84,230,258 and 83,538,033 shares issued, 69,076,820 and 68,519,005 shares outstanding as of June 30, 2017 and December 31, 2016, respectively 842 835
Additional paid-in capital 618,105 613,325
Accumulated other comprehensive income (loss) 39 (258)
Accumulated deficit (66,767) (76,230)
Cost of 15,153,438 and 15,019,028 shares in treasury as of June 30, 2017 and December 31, 2016, respectively (217,271) (216,169)
Total stockholders' equity 334,948 321,503
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 506,475 $ 559,601
[1] Total assets do not include intercompany receivable or payable activity between schools and corporate and investments in subsidiaries.