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v3.8.0.1

Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015
Income Statement [Abstract] |  |  |  |  |  |  |  |  |  |  |
Net revenue | $ 271,418 | $ 236,209 | $ 218,301 | $ 248,206 | $ 244,663 | $ 210,444 | $ 191,279 | $ 226,958 | $ 974,134 | $ 873,344 | $ 778,200
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Instructional costs and services | 108,933 | 104,303 | 95,030 | 102,574 | 102,100 | 91,748 | 84,599 | 94,654 | 410,840 | 373,101 | 329,651
Admissions advisory and related | 34,061 | 31,426 | 31,085 | 31,972 | 32,062 | 28,814 | 28,866 | 29,544 | 128,544 | 119,286 | 112,572
Advertising | 23,678 | 25,523 | 24,776 | 24,631 | 21,000 | 23,896 | 22,149 | 21,107 | 98,608 | 88,152 | 76,229
Marketing and promotional | 2,555 | 2,350 | 2,264 | 2,460 | 2,383 | 2,127 | 2,108 | 2,242 | 9,629 | 8,860 | 7,287
General and administrative | 10,845 | 12,915 | 10,058 | 9,941 | 10,260 | 13,430 | 8,809 | 10,720 | 43,759 | 43,219 | 42,100
Lease termination costs |  |  |  |  | 160 | 3,363 |  |  |  | 3,523 |
Total costs and expenses | 180,072 | 176,517 | 163,213 | 171,578 | 167,965 | 163,378 | 146,531 | 158,267 | 691,380 | 636,141 | 567,839
Operating income | 91,346 | 59,692 | 55,088 | 76,628 | 76,698 | 47,066 | 44,748 | 68,691 | 282,754 | 237,203 | 210,361
Interest expense | (527) | (567) | (495) | (580) | (497) | (344) | (158) | (329) | (2,169) | (1,328) | (1,248)
Interest income and other | 757 | 1,445 | 739 | 2 | 199 | (2,291) | 293 | 2,048 | 2,943 | 249 | (106)
Income before income taxes | 91,576 | 60,570 | 55,332 | 76,050 | 76,400 | 44,431 | 44,883 | 70,410 | 283,528 | 236,124 | 209,007
Income tax expense | 23,320 | 21,266 | 15,485 | 20,138 | 28,421 | 15,187 | 17,257 | 26,745 | 80,209 | 87,610 | 77,596
Net income | $ 68,256 | $ 39,304 | $ 39,847 | $ 55,912 | $ 47,979 | $ 29,244 | $ 27,626 | $ 43,665 | $ 203,319 | $ 148,514 | $ 131,411
Earnings per share: |  |  |  |  |  |  |  |  |  |  |
Basic income per share | $ 1.44 | $ 0.83 | $ 0.85 | $ 1.20 | $ 1.03 | $ 0.63 | $ 0.60 | $ 0.96 | $ 4.31 | $ 3.22 | $ 2.86
Diluted income per share | $ 1.41 | $ 0.81 | $ 0.83 | $ 1.16 | $ 1.01 | $ 0.62 | $ 0.59 | $ 0.93 | $ 4.22 | $ 3.15 | $ 2.78
Basic weighted average shares outstanding | 47,342 | 47,316 | 47,151 | 46,748 | 46,470 | 46,231 | 46,004 | 45,622 | 47,140 | 46,083 | 45,975
Diluted weighted average shares outstanding | 48,382 | 48,292 | 48,192 | 48,070 | 47,452 | 47,175 | 46,990 | 46,860 | 48,235 | 47,121 | 47,281

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- Definition Costs directly attributable to educational services, including salaries and benefits for full-time faculty, administrators and academic advisors, and costs associated with adjunct faculty. Also includes costs for educational supplies such as books, costs associated with academic records and graduation, costs associated with collections from our students such as bad debt expense, and other university services such as evaluating transcripts. + References No definition available. + Details
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