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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flows provided by operating activities:      
Net income $ 184,675 $ 260,344 $ 257,196
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation 12,642 11,526 10,663
Reversal of credit loss reserve   (5,000)  
Depreciation and amortization 22,758 21,994 21,233
Amortization of intangible assets 8,419 8,419 8,419
Deferred income taxes 401 5,674 3,136
Other, including fixed asset impairments 853 677 571
Changes in assets and liabilities:      
Accounts receivable and interest receivable from university partners (7,350) (2,863) (13,250)
Other assets (2,604) (256) (621)
Right-of-use assets and lease liabilities 1,193 545 2,151
Accounts payable (3,894) 7,392 1,012
Accrued liabilities (1,023) 4,148 18,612
Income taxes receivable/payable 4,759 509 (279)
Deferred revenue (10) 10 (20)
Net cash provided by operating activities 220,819 313,119 308,823
Cash flows (used in) provided by investing activities:      
Capital expenditures (35,232) (28,875) (29,418)
Additions of amortizable content (397) (515) (524)
Funding to GCU   (190,000) (75,000)
Repayment by GCU   1,159,912 75,000
Purchases of investments (171,549) (56,335)  
Proceeds from sale or maturity of investments 110,039 66,792 10,591
Net cash (used in) provided by investing activities (97,139) 950,979 (19,351)
Cash flows used in financing activities:      
Principal payments on notes payable   (107,774) (33,144)
Repurchase of common shares and shares withheld in lieu of income taxes (604,212) (803,832) (134,014)
Net proceeds from exercise of stock options   2,680 883
Net cash used in financing activities (604,212) (908,926) (166,275)
Net (decrease) increase in cash and cash equivalents and restricted cash (480,532) 355,172 123,197
Cash and cash equivalents and restricted cash, beginning of period 600,941 245,769 122,572
Cash and cash equivalents and restricted cash, end of period 120,409 600,941 245,769
Supplemental disclosure of cash flow information      
Cash paid for interest 2 3,697 4,306
Cash paid for income taxes 48,573 61,900 68,381
Supplemental disclosure of non-cash investing and financing activities      
Purchases of property and equipment included in accounts payable 1,131 1,536 1,206
Allowance for credit losses of $5,000, net of taxes of $1,168 from adoption of ASU 2016-13     3,832
ROU Asset and Liability recognition $ 15,067 $ 3,368 $ 33,250