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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows provided by operating activities:      
Net income $ 259,175 $ 229,011 $ 203,319
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation 10,300 19,508 12,688
Provision for bad debts   8,669 18,478
Depreciation and amortization 18,696 35,673 54,228
Amortization of intangible assets 8,223    
Deferred income taxes 1,670 (11,507) (5,160)
Loss on transaction, net of costs and asset impairment 3,966 12,605  
Other, including fixed asset impairments (335) 2,101 3,883
Changes in assets and liabilities:      
Accounts receivable and interest receivable from university partners 766 (51,480)  
Accounts receivable   (7,784) (19,848)
Prepaid expenses and other 2,136 1,553 (2,399)
Right-of-use assets and lease liabilities 833    
Accounts payable (3,095) (14,306) 5,378
Accrued liabilities 5,078 (15,700) 3,079
Income taxes receivable/payable (1,044) (8,662) 16,048
Deferred rent   (189) (369)
Deferred revenue (25) 6,881 6,156
Student deposits   (7,288) 9,417
Net cash provided by operating activities 306,344 199,085 304,898
Cash flows used in investing activities:      
Capital expenditures (22,391) (94,527) (113,586)
Purchases of land and building improvements related to off-site development (260) (330) (10,368)
Disposition   (131,550)  
Funding to GCU at closing in excess of required capital   (7,377)  
Repayment of excess funds by GCU   7,377  
Return of equity method investment     685
Acquisition, net of cash acquired (361,184)    
Funding to GCU for capital expenditures (169,819) (29,996)  
Repayment by GCU for capital expenditures 100,000    
Purchases of investments (9,384) (46,948) (94,054)
Proceeds from sale or maturity of investments 57,163 65,116 65,259
Net cash used in investing activities (405,875) (238,235) (152,064)
Cash flows provided by (used in) financing activities:      
Principal payments on notes payable (92,433) (6,719) (6,805)
Debt issuance costs (2,385)    
Proceeds from notes payable 243,750    
Net borrowings from revolving line of credit (68,750)   (25,000)
Repurchase of common shares including shares withheld in lieu of income taxes (43,913) (24,758) (11,300)
Net proceeds from exercise of stock options 3,821 4,632 7,372
Net cash provided by (used in) financing activities 40,090 (26,845) (35,733)
Net (decrease) increase in cash and cash equivalents and restricted cash (59,441) (65,995) 117,101
Cash and cash equivalents and restricted cash, beginning of period 182,013 248,008 130,907
Cash and cash equivalents and restricted cash, end of period 122,572 182,013 248,008
Supplemental disclosure of cash flow information      
Cash paid for interest 11,516 1,511 2,252
Cash paid for income taxes 59,903 78,195 69,606
Supplemental disclosure of non-cash investing and financing activities      
Sale transaction to GCU through Secured Note financing   870,097  
Purchases of property and equipment included in accounts payable 469 1,121 $ 6,682
Reclassification of capitalized costs - adoption of ASC 606   9,015  
Reclassification of deferred revenue - adoption of ASC 606   7,451  
Lease adoption - gross up of right of use assets and lease liabilities 498    
ROU Asset and Liability gross up 14,203    
Reclassification of interest rate corridor due to expiration $ 1,100    
Reclassification of tax effect within accumulated other comprehensive income   $ 156