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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

		Year Ended December 31,
		2018			2017			2016
Current:
Federal		$	60,764		$	76,966		$	64,006
State			8,732			8,589			4,831
			69,496			85,555			68,837
Deferred:
Federal			(10,708)			(6,189)			7,961
State			(799)			843			891
			(11,507)			(5,346)			8,852
Tax expense recorded as an increase of paid-in capital			—			—			9,921
		$	57,989		$	80,209		$	87,610

Schedule of Effective Income Tax Rate Reconciliation

		Year Ended December 31,
		2018		2017		2016
Statutory U.S. federal income tax rate		21.0	%	35.0	%	35.0	%
State income taxes, net of federal tax benefit		4.0		3.2		3.2
State tax credits, net of federal effect		(1.0)		(0.7)		(1.5)
Excess tax benefits		(3.7)		(5.8)		—
Deferred tax revaluation (Federal Rate change)		—		(3.7)		—
Nondeductible expenses		0.4		—		0.2
Other		(0.5)		0.3		0.2
Effective income tax rate		20.2	%	28.3	%	37.1	%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred income tax assets and liabilities, included in Deferred income taxes, non-current on the consolidated balance sheets are as follows:

		As of December 31,
		2018			2017
Deferred tax assets:
Share-based compensation		$	3,030		$	4,201
Employee compensation			780			950
Allowance for doubtful accounts			—			1,685
Deferred tuition revenue			—			1,294
Deferred scholarship			—			618
Intangibles			—			590
State taxes			879			985
Other			386			526
Deferred tax assets			5,075			10,849
Deferred tax liability:
Property and equipment			(10,778)			(28,028)
Goodwill			(762)			(762)
Other			—			(421)
Deferred tax liability			(11,540)			(29,211)
Net deferred tax liability		$	(6,465)		$	(18,362)

The net deferred tax liability on the accompanying consolidated balance sheet is comprised of the following:

		As of December 31,
		2018			2017
Deferred income taxes, current		$	1,871		$	5,214
Deferred income taxes, non-current			(8,336)			(23,576)
Net deferred tax liability		$	(6,465)		$	(18,362)

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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