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Share-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2018
Share-Based Compensation Plans  
Schedule of Activity Related to Restricted Stock Granted under Company's Incentive Plan

 

 

 

 

 

 

 

    

 

    

Weighted Average

 

 

Total

 

Grant Date

 

 

Shares

 

Fair Value per Share

Outstanding as of December 31, 2015

 

1,056

 

$

34.30

Granted

 

275

 

$

44.46

Vested

 

(329)

 

$

30.56

Forfeited, canceled or expired

 

(9)

 

$

37.94

 

 

 

 

 

 

Outstanding as of December 31, 2016

 

993

 

$

38.32

Granted

 

192

 

$

70.44

Vested

 

(375)

 

$

32.46

Forfeited, canceled or expired

 

(34)

 

$

44.51

 

 

 

 

 

 

Outstanding as of December 31, 2017

 

776

 

$

49.16

Granted

 

163

 

$

92.34

Vested

 

(384)

 

$

65.57

Forfeited, canceled or expired

 

(95)

 

$

71.60

 

 

 

 

 

 

Outstanding as of December 31, 2018

 

460

 

$

63.28

 

Schedule of Activity Related to Stock Options Granted under Company's Incentive Plan

 

 

Summary of Stock Options Outstanding

 

    

 

    

Weighted

    

Weighted

    

 

 

 

 

 

 

Average

 

Average

 

 

 

 

 

 

 

Exercise

 

Remaining

 

Aggregate

 

 

Total

 

Price per

 

Contractual

 

Intrinsic

 

 

Shares

 

Share

 

Term (Years)

 

Value ($)(1)

Outstanding as of December 31, 2015

 

2,220

 

$

14.71

 

 

 

 

 

Granted

 

 —

 

$

 —

 

  

 

 

  

Exercised

 

(946)

 

$

13.97

 

  

 

 

  

Forfeited, canceled or expired

 

(2)

 

$

19.23

 

  

 

 

  

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2016

 

1,272

 

$

15.26

 

 

 

 

 

Granted

 

 —

 

$

 —

 

  

 

 

  

Exercised

 

(576)

 

$

12.79

 

  

 

 

  

Forfeited, canceled or expired

 

(2)

 

$

16.35

 

  

 

 

  

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2017

 

694

 

$

17.31

 

 

 

 

 

Granted

 

 —

 

$

 —

 

  

 

 

  

Exercised

 

(250)

 

$

18.47

 

  

 

 

  

Forfeited, canceled or expired

 

 —

 

$

 —

 

  

 

 

  

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2018

 

444

 

$

16.66

 

1.95

 

$

35,222

Exercisable as of December 31, 2018

 

444

 

$

16.66

 

1.95

 

$

35,222


(1)

Aggregate intrinsic value represents the value of the Company’s closing stock price on December 31, 2018 ($96.14) in excess of the exercise price multiplied by the number of options outstanding or exercisable.

Schedule of Share-Based Compensation Expense

 

 

 

 

 

 

 

 

 

 

 

 

    

2018

    

2017

    

2016

 

Technical and academic services

 

$

1,585

 

$

1,555

 

$

1,498

 

Counseling support and services

 

 

4,926

 

 

4,700

 

 

4,711

 

Marketing and communication

 

 

48

 

 

26

 

 

20

 

General and administrative

 

 

3,355

 

 

3,402

 

 

3,430

 

University related expenses

 

 

9,594

 

 

3,005

 

 

2,617

 

Share-based compensation expense included in operating expenses

 

 

19,508

 

 

12,688

 

 

12,276

 

Tax effect of share-based compensation

 

 

(4,877)

 

 

(5,075)

 

 

(4,910)

 

Share-based compensation expense, net of tax

 

$

14,631

 

$

7,613

 

$

7,366