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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows provided by operating activities:    
Net income $ 58,078 $ 78,112
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation 3,190 3,019
Depreciation and amortization 5,724 5,426
Amortization of intangible assets 2,105 2,105
Deferred income taxes 1,480 1,776
Other, including fixed asset impairments 719 65
Changes in assets and liabilities:    
Accounts receivable and interest receivable from university partners (31,943) (29,601)
Other assets (5,312) (6,166)
Right-of-use assets and lease liabilities 179 165
Accounts payable 5,427 971
Accrued liabilities 2,377 10,714
Income taxes receivable/payable 16,074 16,305
Deferred revenue 12,162 6,936
Net cash provided by operating activities 70,260 89,827
Cash flows used in investing activities:    
Capital expenditures (6,784) (8,911)
Additions of amortizable content (95) (90)
Purchases of investments (62,834) (31,337)
Proceeds from sale or maturity of investments   5,519
Net cash used in investing activities (69,713) (34,819)
Cash flows (used in) provided by financing activities:    
Principal payments on notes payable   (8,286)
Repurchase of common shares including shares withheld in lieu of income taxes (399,555) (69,342)
Net proceeds from exercise of stock options   2,680
Net cash used in financing activities (399,555) (74,948)
Net decrease in cash and cash equivalents and restricted cash (399,008) (19,940)
Cash and cash equivalents and restricted cash, beginning of period 600,941 245,769
Cash and cash equivalents and restricted cash, end of period 201,933 225,829
Supplemental disclosure of cash flow information    
Cash paid for interest   895
Cash paid for income taxes 306 230
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment included in accounts payable 1,442 876
ROU Asset and Liability recognition $ 1,980 $ 1,586