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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows:

		Year Ended December 31,
		2015				2014				2013
Current:
Federal		$	63,481			$	50,980			$	40,949
State			5,222				6,216				5,540
			68,703				57,196				46,489
Deferred:
Federal			4,473				2,734				4,209
State			557				418				898
			5,030				3,152				5,107
Tax expense recorded as an increase of paid-in capital			3,863				7,884				4,588
		$	77,596			$	68,232			$	56,184

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax computed at the U.S. statutory rate to the effective income tax rate is as follows:

		Year Ended December 31,
		2015				2014				2013
Statutory U.S. federal income tax rate			35.0	%			35.0	%			35.0	%
State income taxes, net of federal tax benefit			3.3				4.3				5.5
State tax credits, net of federal effect			(1.2	)			(1.5	)			(1.8	)
Nondeductible expenses			0.1				0.1				0.3
Other			(0.1	)			0.1				(0.2	)
Effective income tax rate			37.1	%			38.0	%			38.8	%

Significant Components of Deferred Income Tax Assets and Liabilities

Significant components of the University’s deferred income tax assets and liabilities are as follows:

		As of December 31,
		2015				2014
Deferred tax assets:
Allowance for doubtful accounts		$	2,051			$	2,654
Share-based compensation			9,330				8,487
Deferred tuition revenue			1,336				610
Deferred scholarship			1,091				959
Deferred rent			1,078				1,290
Intangibles			1,778				3,312
Other			3,482				2,871
Deferred tax assets			20,146				20,183
Deferred tax liability:
Property and equipment			(33,710	)			(28,203	)
Other			(1,291	)			(1,805	)
Deferred tax liability			(35,001	)			(30,008	)
Net deferred tax liability		$	(14,855	)		$	(9,825	)

The deferred tax amounts above have been classified in the University’s balance sheets as follows:

		As of December 31,
		2015				2014
Deferred income taxes, current		$	6,448			$	6,149
Deferred income taxes, non-current			(21,303	)			(15,974	)
Net deferred tax liability		$	(14,855	)		$	(9,825	)

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- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

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