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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows provided by operating activities:    
Net income $ 153,480 $ 135,063
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation 17,066 9,562
Provision for bad debts 8,669 13,351
Depreciation and amortization 31,783 40,467
Deferred income taxes (13,551) 3,813
Loss on transaction, net of costs and asset impairment 12,605  
Other 1,411 1,751
Changes in assets and liabilities:    
Accounts receivable from GCU (69,501)  
Accounts receivable (7,784) (14,827)
Prepaid expenses and other (555) (3,784)
Accounts payable (11,938) 4,007
Accrued liabilities and employee related liabilities (8,666) 6,710
Income taxes receivable/payable (15,887) 8,156
Deferred rent (189) (271)
Deferred revenue 6,881 75,699
Student deposits (7,288) (9,770)
Net cash provided by operating activities 96,536 269,927
Cash flows used in investing activities:    
Capital expenditures (90,152) (75,604)
Purchases of land and building improvements related to off-site development (330) (10,152)
Disposition, net of cash (131,550)  
Funding to GCU at closing in excess of required capital (7,377)  
Repayment of excess funds by GCU 7,377  
Funding to GCU for capital expenditures (12,803)  
Return of equity method investment   685
Purchases of investments (31,455) (76,630)
Proceeds from sale or maturity of investments 50,561 49,617
Net cash used in investing activities (215,729) (112,084)
Cash flows used in financing activities:    
Principal payments on notes payable and capital lease obligations (5,076) (5,102)
Net borrowings from revolving line of credit   (25,000)
Repurchase of common shares including shares withheld in lieu of income taxes (19,288) (9,657)
Net proceeds from exercise of stock options 2,095 6,755
Net cash used in financing activities (22,269) (33,004)
Net (decrease) increase in cash and cash equivalents and restricted cash (141,462) 124,839
Cash and cash equivalents and restricted cash, beginning of period 248,008 130,907
Cash and cash equivalents and restricted cash, end of period 106,546 255,746
Supplemental disclosure of cash flow information    
Cash paid for interest 738 1,633
Cash paid for income taxes 69,161 45,413
Supplemental disclosure of non-cash investing and financing activities    
Sale transaction to GCU through Secured Note financing 870,097  
Purchases of property and equipment included in accounts payable 924 $ 6,437
Reclassification of capitalized costs - adoption of ASC 606 9,015  
Reclassification of deferred revenue - adoption of ASC 606 7,451  
Reclassification of tax effect within accumulated other comprehensive income $ 156