INCOME TAXES

6 Months Ended

Jun. 30, 2023

INCOME TAXES [Abstract]

INCOME TAXES

8. INCOME TAXES

The provision for income taxes was $6.8 million, or 28.2% of pre-tax income for the three months ended June 30, 2023 compared to a provision for income taxes of $0.1 million, or 28.3% of pre-tax income in the prior year comparable period.  The provision for income taxes was $6.2 million, or 26.6% of pre-tax income for the six months ended June 30, 2023 compared to a benefit for income taxes of $0.5 million in the comparable prior year period.  The provision for the three months ended June 30, 2023 and 2022 was primarily due to a pre-tax income position driven by gains of $30.9 million in the current year resulting from the sale of our Nashville, Tennessee campus and a $0.2 million gain in the prior year resulting from the sale of our Suffield, Connecticut property.  The provision for income taxes for the six months ended June 30, 2023 was primarily driven by a pre-tax income position, resulting from a gain of $30.9 million in the current year.  The benefit for the six months ended June 30, 2022 was due primarily to a pre-tax book loss and a discrete item relating to Restricted Stock vesting.  The effective tax rate for the three and six months ended June 30, 2023 and 2022 was 28.0% and 28.2%, respectively.