XML 22 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss $ (28,304) $ (3,350) $ (56,133)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation and amortization 11,066 14,506 19,338
Amortization of deferred finance costs 949 554 818
Deferred income taxes 0 0 (4,528)
Loss on disposition of assets 223 1,738 41
Gain on capital lease termination, net (6,710) (3,062) 0
Impairment of goodwill and long-lived assets 21,367 216 42,958
Fixed asset donation (123) (20) (92)
Provision for doubtful accounts 14,592 13,583 15,500
Stock-based compensation expense 1,440 1,128 2,621
Deferred rent (489) (638) (740)
(Increase) decrease in assets:      
Accounts receivable (15,700) (13,216) (14,470)
Inventories 201 9 372
Prepaid income taxes and income taxes receivable 87 530 7,638
Prepaid expenses and current assets 412 444 (986)
Other assets, net (1,701) (1,460) 231
Increase (decrease) in liabilities:      
Accounts payable 742 1,004 (2,732)
Accrued expenses 1,195 (450) 3,806
Pension plan liabilities 0 0 (271)
Unearned tuition (6,854) 2,627 (1,190)
Other liabilities 1,500 194 (159)
Total adjustments 22,197 17,687 68,155
Net cash (used in) provided by operating activities (6,107) 14,337 12,022
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (3,596) (2,218) (7,472)
Restricted cash 963 0 0
Proceeds from sale of property and equipment 451 451 67
Net cash used in investing activities (2,182) (1,767) (7,405)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from borrowings 0 53,500 47,500
Payments on borrowings (387) (38,847) (72,000)
Reclassifications of payments from borrowings to restricted cash 0 30,000 24,500
Reclassifications of proceeds from borrowings to restricted cash (4,993) (22,621) 0
Payment of deferred finance fees (645) (2,823) 0
Net share settlement for equity-based compensation (178) (186) (448)
Dividends paid 0 0 (4,321)
Principal payments under capital lease obligations (2,864) (5,472) (435)
Net cash (used in) provided by financing activities (9,067) 13,551 (5,204)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (17,356) 26,121 (587)
CASH AND CASH EQUIVALENTS-Beginning of year 38,420 12,299 12,886
CASH AND CASH EQUIVALENTS-End of year 21,064 38,420 12,299
Cash paid during the year for:      
Interest 5,265 7,159 4,597
Income taxes 150 89 145
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES:      
Liabilities accrued for or noncash purchases of fixed assets $ 2,048 $ 979 $ 1,613