XML 13 R2.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents $ 83,307 $ 38,026
Accounts receivable, less allowance of $26,837 and $25,174 at December 31, 2021 and 2020, respectively 26,159 30,021
Inventories 2,721 2,394
Prepaid expenses and other current assets 4,881 3,723
Assets held for sale 4,559 0
Total current assets 121,627 74,164
PROPERTY, EQUIPMENT AND FACILITIES - At cost, net of accumulated depreciation and amortization of $153,335 and $176,300 at December 31, 2021 and 2020, respectively 23,119 48,388
OTHER ASSETS:    
Noncurrent receivables, less allowance of $5,084 and $3,465 at December 31, 2021 and 2020, respectively 20,028 16,463
Deferred income taxes, net 23,708 35,718
Operating lease right-of-use assets 91,487 55,187
Goodwill 14,536 14,536
Other assets, net 794 734
Total other assets 150,553 122,638
TOTAL ASSETS 295,299 245,190
CURRENT LIABILITIES:    
Current portion of credit agreement 0 2,000
Unearned tuition 25,405 23,453
Accounts payable 12,297 15,676
Accrued expenses 15,669 16,692
Income taxes payable 1,017 491
Current portion of operating lease liabilities 11,479 8,504
Other short-term liabilities 15 26
Total current liabilities 65,882 66,842
NONCURRENT LIABILITIES:    
Long-term credit agreement 0 15,212
Pension plan liabilities 1,607 4,252
Long-term portion of operating lease liabilities 86,410 52,702
Other long-term liabilities 0 3,133
Total liabilities 153,899 142,141
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:    
Common stock, no par value - authorized 100,000,000 shares at December 31, 2021 and 2020, issued and outstanding 27,000,687 shares at December 31, 2021 and 26,476,329 shares at December 31, 2020 141,377 141,377
Additional paid-in capital 32,439 30,512
Treasury stock at cost - 5,910,541 shares at December 31, 2021 and December 31, 2020 (82,860) (82,860)
Retained earnings 39,702 6,203
Accumulated other comprehensive loss (1,240) (4,165)
Total stockholders' equity 129,418 91,067
TOTAL LIABILITIES, SERIES A CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY 295,299 245,190
Series A Convertible Preferred Stock [Member]    
SERIES A CONVERTIBLE PREFERRED STOCK    
Preferred stock, no par value - 10,000,000 shares authorized, Series A convertible preferred shares, 12,700 shares issued and outstanding as of each December 31, 2021 and 2020 $ 11,982 $ 11,982