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Consolidated Income Statements - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Consolidated Income Statements        
Service revenue $ 206,767 $ 198,384 $ 645,188 $ 605,807
Costs and expenses:        
Technology and academic services 35,536 30,751 101,263 84,179
Counseling services and support 62,209 58,214 184,380 176,029
Marketing and communication 47,150 42,244 140,326 126,042
General and administrative 14,451 14,031 33,114 33,097
Amortization of intangible assets 2,105 2,105 6,315 6,315
Total costs and expenses 161,451 147,345 465,398 425,662
Operating income 45,316 51,039 179,790 180,145
Interest income on Secured Note 15,031 14,885 44,353 44,318
Interest expense (741) (918) (2,303) (3,537)
Investment interest and other 218 181 577 793
Income before income taxes 59,824 65,187 222,417 221,719
Income tax expense 12,166 13,141 47,186 51,278
Net income $ 47,658 $ 52,046 $ 175,231 $ 170,441
Earnings per share:        
Basic income per share $ 1.08 $ 1.11 $ 3.87 $ 3.62
Diluted income per share $ 1.08 $ 1.11 $ 3.86 $ 3.60
Basic weighted average shares outstanding 44,212 46,808 45,272 47,051
Diluted weighted average shares outstanding 44,298 47,095 45,404 47,336