XML 29 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Income Statements (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Net revenue $ 155,454 $ 236,209 $ 667,953 $ 702,716
Costs and expenses:        
Technology and academic services 11,101 10,494 32,476 31,095
Counseling services and support 51,116 46,100 152,701 138,382
Marketing and communication 31,546 28,130 90,168 82,865
General and administrative 10,092 8,343 23,273 21,182
University related expenses 6,569 83,450 173,735 237,784
Loss on Transaction 15,610   17,600  
Total costs and expenses 126,034 176,517 489,953 511,308
Operating income 29,420 59,692 178,000 191,408
Interest income on Secured Note 13,248   13,248  
Interest expense (558) (567) (961) (1,642)
Investment interest and other 371 1,445 2,919 2,186
Income before income taxes 42,481 60,570 193,206 191,952
Income tax expense 8,720 21,266 39,726 56,889
Net income $ 33,761 $ 39,304 $ 153,480 $ 135,063
Earnings per share:        
Basic income per share $ 0.71 $ 0.83 $ 3.22 $ 2.87
Diluted income per share $ 0.70 $ 0.81 $ 3.17 $ 2.80
Basic weighted average shares outstanding 47,682 47,316 47,592 47,083
Diluted weighted average shares outstanding 48,422 48,292 48,429 48,197
Service [Member]        
Net revenue $ 155,454   $ 155,454  
University Related Revenue [Member]        
Net revenue   $ 236,209 $ 512,499 $ 702,716