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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash, cash equivalents, and restricted cash (Note 2) $ 144,342 $ 129,458
Accounts receivable, net of allowance of $13,328 in 2022 and $15,359 in 2023 50,973 42,353
Prepaid expenses 13,032 11,409
Income tax receivable 474 2,871
Assets held for sale 8,561 0
Total current assets 217,382 186,091
Property and equipment, net 87,503 100,892
Operating lease assets, net 100,023 108,870
Deferred income taxes 51,360 35,355
Intangible assets, net 31,539 54,734
Goodwill 59,593 112,593
Other assets, net 9,986 16,521
Total assets 557,386 615,056
Current liabilities:    
Accounts payable 8,663 3,808
Accrued compensation and benefits 16,711 15,010
Accrued liabilities 11,476 13,784
Deferred revenue and student deposits 23,830 23,760
Lease liabilities, current 13,309 14,396
Total current liabilities 73,989 70,758
Lease liabilities, long term 96,739 101,420
Long-term debt, net 94,682 93,151
Total liabilities 265,410 265,329
Commitments and contingencies (Note 14)
Stockholders’ equity:    
Preferred Stock, $.01 par value; authorized shares - 10,000,000; Series A Senior Preferred Stock, 400 shares issued or outstanding in 2022 and 2023, respectively. ($155,587 and $138,132 liquidation preference per share, $62,235 and $55,253 in aggregate, for 2022 and 2023, respectively) (Note 13) 39,691 39,691
Common Stock, $.01 par value; authorized shares - 100,000,000; 18,892,791 issued and outstanding in 2022; 17,604,371 issued and outstanding in 2023 176 189
Additional paid-in capital 299,561 292,854
Accumulated other comprehensive income 1,644 3,102
Retained earnings (accumulated deficit) (49,096) 13,891
Total stockholders’ equity 291,976 349,727
Total liabilities and stockholders’ equity $ 557,386 $ 615,056