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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows provided by operating activities:    
Net income $ 95,759 $ 71,291
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation 6,229 5,831
Provision for bad debts 7,830 7,963
Depreciation and amortization 26,856 21,245
Deferred income taxes 3,372 2,478
Other 214 (1,682)
Changes in assets and liabilities:    
Accounts receivable (8,764) (8,745)
Prepaid expenses and other (1,413) 1,221
Accounts payable (1,708) (2,386)
Accrued liabilities and employee related liabilities (439) 11,481
Income taxes receivable/payable 1,042 835
Deferred rent (222) (535)
Deferred revenue 11,265 9,344
Student deposits (6,361) (5,877)
Net cash provided by operating activities 133,660 112,464
Cash flows used in investing activities:    
Capital expenditures (50,491) (115,615)
Purchases of land, building and golf course improvements related to off-site development (9,374) (24,769)
Proceeds received from note receivable   501
Return of equity method investment   1,749
Purchases of investments (52,181) (23,525)
Proceeds from sale or maturity of investments 25,363 57,449
Net cash used in investing activities (86,683) (104,210)
Cash flows (used in) provided by financing activities:    
Principal payments on notes payable and capital lease obligations (3,400) (3,831)
Debt issuance costs   (194)
Net borrowings from revolving line of credit (25,000) 25,000
Repurchase of common shares including shares withheld in lieu of income taxes (9,657) (19,227)
Net proceeds from exercise of stock options 5,895 6,972
Net cash (used in) provided by financing activities (32,162) 8,720
Net increase in cash and cash equivalents and restricted cash 14,815 16,974
Cash and cash equivalents and restricted cash, beginning of period 130,907 98,420
Cash and cash equivalents and restricted cash, end of period 145,722 115,394
Supplemental disclosure of cash flow information    
Cash paid for interest 1,167 481
Cash paid for income taxes 31,718 40,176
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment included in accounts payable $ 7,118 19,798
Tax benefit of Spirit warrant intangible   127
Shortfall tax expense from share-based compensation   $ 257