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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2011

Share-Based Compensation Plans [Abstract]

Summary of the activity related to stock options granted under the Company's Incentive Plan

			September 30,				September 30,				September 30,				September 30,
		Summary of Stock Options Outstanding
		Total Shares				Weighted Average Exercise Price per Share				Weighted Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value ($)(1)
Outstanding as of December 31, 2008			3,247			$	12.00
Granted			218				16.65
Exercised			(102	)			12.00
Forfeited, canceled or expired			(13	)			12.00
Outstanding as of December 31, 2009			3,350				12.30
Granted			922				21.29
Exercised			(144	)			12.12
Forfeited, canceled or expired			(102	)			17.45
Outstanding as of December 31, 2010			4,026			$	14.24
Granted			1,250				15.34
Exercised			(140	)			12.00
Forfeited, canceled or expired			(172	)			17.29
Outstanding as of December 31, 2011			4,964			$	14.47				7.67			$	7,396
Exercisable as of December 31, 2011			2,092			$	12.90				7.01			$	6,403
Available for issuance as of December 31, 2011			2,094

(1) Aggregate intrinsic value represents the value of the University’s closing stock price on December 31, 2011 ($15.96) in excess of the exercise price multiplied by the number of options outstanding or exercisable.

Amounts related to options exercised

			September 30,				September 30,				September 30,
		2011				2010				2009
Amounts related to options exercised:
Intrinsic value realized by optionee		$	403			$	1,407			$	656
Actual tax benefit realized by the University for tax deductions		$	161			$	563			$	262

Share-based Compensation Expense

			September 30,				September 30,				September 30,
		2011				2010				2009
Instructional costs and services		$	2,935			$	2,034			$	771
Selling and promotional			297				233				116
General and administrative			3,220				2,782				2,532
Share-based compensation expense included in operating expenses			6,452				5,049				3,419
Tax effect of share-based compensation			(2,581	)			(2,020	)			(1,368	)
Share-based compensation expense, net of tax		$	3,871			$	3,029			$	2,051

Fair value of the options as of the grant dates using weighted average assumptions

			September 30,				September 30,				September 30,
Year Ended December 31,		2011				2010				2009
Weighted average fair value		$	6.98			$	10.74			$	7.99
Expected volatility			41.85	%			47.50	%			47.46	%
Expected life (years)			6.50				6.50				6.47
Risk-free interest rate			2.58	%			2.87	%			2.81	%
Dividend yield			0	%			0	%			0	%

Summary of the activity related to restricted and unrestricted stock granted under the Incentive Plan

			September 30,				September 30,
		Total Shares				Weighted Average Grant Date Fair Value per Share
Outstanding as of December 31, 2008			109			$	12.00
Granted			9				14.88
Vested
Forfeited, canceled or expired			—
Outstanding as of December 31, 2009			118				12.21
Granted			4				25.16
Vested			9				14.88
Forfeited, canceled or expired			—
Outstanding as of December 31, 2010			122			$	12.66
Granted			8				13.42
Vested			4				25.16
Forfeited, canceled or expired			3				13.42
Outstanding as of December 31, 2011			127			$	12.69
Vested as of December 31, 2011			122			$	12.66

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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