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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income (loss) $ (114,993) $ 17,752 $ 18,822
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 32,127 17,832 12,984
Amortization and write-off of debt issuance costs 6,480 885 0
Stock-based compensation 8,009 7,654 7,075
Equity investment loss 21 831 7
Deferred income taxes (41,910) 5,530 (811)
Loss on disposal of long-lived assets 1,176 1,282 851
Gain on acquisition (3,828) 0 0
Impairment of goodwill and intangible assets 146,900 0 0
Other 16 15 24
Changes in operating assets and liabilities:      
Accounts receivable, net of allowance for bad debt (2,045) (7,637) (6,327)
Prepaid expenses 354 (614) 320
Income tax receivable/payable 2,432 (5,481) 1,935
Operating lease assets, net 1,373 2,606 (16)
Other assets 519 (1,517) (165)
Accounts payable (10,207) 8,026 (86)
Accrued compensation and benefits (141) (3,406) 1,907
Accrued liabilities 2,917 (4,432) 3,612
Deferred revenue and student deposits 15 (23,061) 4,678
Net cash provided by operating activities 29,215 16,265 44,810
Investing activities      
Cash paid for acquisition, net of cash acquired 1,951 (325,509) 0
Capital expenditures (16,389) (11,828) (4,926)
Proceeds from the sale of real property 765 672 767
Net cash used in investing activities (13,673) (336,665) (4,159)
Financing activities      
Cash paid for repurchase of common/restricted stock (1,538) (3,032) (15,705)
Cash received from issuance of common stock 0 86,205 0
Cash received from issuance of preferred stock 39,691 0 0
Cash paid for principal on borrowings and finance leases (73,864) (2,188) 0
Cash received from borrowings 0 175,000 0
Cash paid for debt issuance costs 0 (13,644) 0
Net cash (used in) provided by financing activities (35,711) 242,341 (15,705)
Net increase (decrease) in cash, cash equivalents, and restricted cash (20,169) (78,059) 24,946
Cash, cash equivalents, and restricted cash at beginning of period 149,627 227,686 202,740
Cash, cash equivalents, and restricted cash at end of period 129,458 149,627 227,686
Supplemental disclosures of cash flow information      
Interest paid 12,496 3,676 0
Income taxes paid $ 3,996 $ 7,464 $ 5,898