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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 148,749 $ 319,982
Restricted cash 1,191 5,196
Total cash, cash equivalents and restricted cash 149,940 325,178
Short-term investments 366,840 174,213
Total cash and cash equivalents, restricted cash and short-term investments 516,780 499,391
Student receivables, gross 73,129 79,418
Allowance for credit losses (40,943) (36,385)
Student receivables, net 32,186 43,033
Receivables, other 8,617 1,692
Prepaid expenses 10,306 6,919
Inventories 1,168 904
Other current assets 2,737 2,514
Total current assets 571,794 554,453
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $116,233 and $113,711 as of June 30, 2022 and December 31, 2021, respectively 26,952 28,355
Right of use asset, net 32,443 36,664
Goodwill 162,579 162,579
Intangible assets, net of amortization of $11,994 and $8,662 as of June 30, 2022 and December 31, 2021, respectively 28,877 32,208
Student receivables, gross 4,138 4,242
Allowance for credit losses (2,843) (2,870)
Student receivables, net 1,295 1,372
Deferred income tax assets, net 25,671 25,114
Other assets 6,450 6,688
TOTAL ASSETS [1] 856,061 847,433
CURRENT LIABILITIES:    
Lease liability-operating 7,278 9,400
Accounts payable 12,419 10,838
Accrued expenses:    
Payroll and related benefits 22,887 25,312
Advertising and marketing costs 9,548 8,690
Income taxes 7,995 211
Other 14,504 15,180
Deferred revenue 35,567 70,613
Total current liabilities 110,198 140,244
NON-CURRENT LIABILITIES:    
Lease liability-operating 31,990 35,549
Other liabilities 21,113 21,530
Total non-current liabilities 53,103 57,079
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; 89,358,511 and 88,724,438 shares issued, 67,756,553 and 68,748,662 shares outstanding as of June 30, 2022 and December 31, 2021, respectively 894 887
Additional paid-in capital 679,400 674,242
Accumulated other comprehensive loss (3,174) (96)
Retained earnings 309,817 251,972
Treasury stock, at cost; 21,601,958 and 19,975,776 shares as of June 30, 2022 and December 31, 2021, respectively (294,177) (276,895)
Total stockholders' equity 692,760 650,110
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 856,061 $ 847,433
[1] Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.