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Consolidated Statements of Cash Flows
$ in Thousands
 9 Months Ended
Sep. 30, 2020
USD ($)
Sep. 30, 2019
USD ($)
Cash flows provided by operating activities:    
Net income $ 170,441 $ 182,506
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation 8,047 7,740
Depreciation and amortization 15,839 13,821
Amortization of intangible assets 6,315 6,044
Deferred income taxes 2,136 1,873
Loss on transaction   3,966
Other, including fixed asset impairments 344 (369)
Changes in assets and liabilities:    
Accounts receivable and interest receivable from university partners (40,112) (33,853)
Other assets (6,021) (2,187)
Right-of-use assets and lease liabilities 1,667 419
Accounts payable (50) 1,485
Accrued liabilities 19,627 10,130
Income taxes receivable/payable (8,370) (5,597)
Deferred revenue 10,220 9,156
Net cash provided by operating activities 180,083 195,134
Cash flows used in investing activities:    
Capital expenditures (22,156) (15,178)
Amortization of intangible assets (238) (191)
Acquisition, net of cash acquired   (361,184)
Funding to GCU (75,000) (169,819)
Repayment by GCU 75,000 60,000
Purchases of investments   (1,695)
Proceeds from sale or maturity of investments 8,653 56,957
Net cash used in investing activities (13,741) (431,110)
Cash flows (used in) provided by financing activities:    
Principal payments on notes payable (24,858) (71,959)
Debt issuance costs   (2,385)
Proceeds from notes payable   243,750
Net borrowings from revolving line of credit   26,250
Repurchase of common shares including shares withheld in lieu of income taxes (97,284) (25,420)
Net proceeds from exercise of stock options 178 3,736
Net cash (used in) provided by financing activities (121,964) 173,972
Net increase (decrease) in cash and cash equivalents and restricted cash 44,378 (62,004)
Cash and cash equivalents and restricted cash, beginning of period 122,572 182,013
Cash and cash equivalents and restricted cash, end of period 166,950 120,009
Supplemental disclosure of cash flow information    
Cash paid for interest 3,536 7,751
Cash paid for income taxes 54,114 45,786
Supplemental disclosure of non-cash investing and financing activities    
Purchases of property and equipment included in accounts payable 1,022 1,796
Lease adoption - recognition of right of use assets and lease liabilities   $ 498
Allowance for credit losses of $5,000, net of taxes of $1,168 from adoption of ASU 2016-13 3,832  
ROU Asset and Liability recognition $ 31,173