XML 246 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Revenue $ 147,214 $ 149,608 $ 296,903 $ 304,355
Costs and expenses:        
Instructional costs and services 74,998 72,089 148,887 143,787
Selling and promotional 32,966 35,846 72,890 75,165
General and administrative 32,533 29,923 66,022 59,512
Impairment of goodwill and intangible assets 64,000 144,900 64,000 144,900
Loss on disposals of long-lived assets 32 (9) 33 784
Depreciation and amortization 7,953 8,119 15,709 16,267
Total costs and expenses 212,482 290,868 367,541 440,415
Loss from operations before interest and income taxes (65,268) (141,260) (70,638) (136,060)
Gain on acquisition (Note 3) 0 (705) 0 3,828
Interest expense (1,097) (3,390) (2,876) (6,745)
Loss before income taxes (66,365) (145,355) (73,514) (138,977)
Income tax benefit (15,137) (35,332) (16,551) (34,292)
Equity investment loss (4) (6) (9) (11)
Net loss (51,232) (110,029) (56,972) (104,696)
Preferred stock dividends 1,487 0 2,944 0
Net (loss) income available to common stockholders basic (52,719) (110,029) (59,916) (104,696)
Net (loss) income available to common stockholders diluted $ (52,719) $ (110,029) $ (59,916) $ (104,696)
Loss per common share:        
Earnings per common share basic (in dollars per share) $ (2.94) $ (5.83) $ (3.25) $ (5.56)
Earnings per common share diluted (in dollars per share) $ (2.93) $ (5.82) $ (3.23) $ (5.54)
Weighted average number of common shares:        
Basic (in shares) 17,932 18,865 18,457 18,835
Diluted (in shares) 17,991 18,907 18,531 18,893