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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash flows provided by operating activities:      
Net income $ 260,344 $ 257,196 $ 259,175
Adjustments to reconcile net income to net cash provided by operating activities:      
Share-based compensation 11,526 10,663 10,300
Reversal of credit loss reserve (5,000)    
Depreciation and amortization 21,994 21,233 18,696
Amortization of intangible assets 8,419 8,419 8,223
Deferred income taxes 5,674 3,136 1,670
Loss on transaction     3,966
Other, including fixed asset impairments 677 571 (335)
Changes in assets and liabilities:      
Accounts receivable and interest receivable from university partners (2,863) (13,250) 766
Other assets (256) (621) 2,136
Right-of-use assets and lease liabilities 545 2,151 833
Accounts payable 7,392 1,012 (3,095)
Accrued liabilities 4,148 18,612 5,078
Income taxes receivable/payable 509 (279) (1,044)
Student deposits     (25)
Deferred revenue 10 (20)  
Net cash provided by operating activities 313,119 308,823 306,344
Cash flows provided by (used in) investing activities:      
Capital expenditures (28,875) (29,418) (22,391)
Additions of amortizable content (515) (524) (260)
Acquisition, net of cash acquired     (361,184)
Funding to GCU (190,000) (75,000) (169,819)
Repayment by GCU 1,159,912 75,000 100,000
Purchases of investments (56,335)   (9,384)
Proceeds from sale or maturity of investments 66,792 10,591 57,163
Net cash provided by (used in) investing activities 950,979 (19,351) (405,875)
Cash flows (used in) provided by financing activities:      
Principal payments on notes payable (107,774) (33,144) (92,433)
Debt issuance costs     (2,385)
Proceeds from notes payable     243,750
Net borrowings from revolving line of credit     (68,750)
Repurchase of common shares including shares withheld in lieu of income taxes (803,832) (134,014) (43,913)
Net proceeds from exercise of stock options 2,680 883 3,821
Net cash (used in) provided by financing activities (908,926) (166,275) 40,090
Net increase (decrease) in cash and cash equivalents and restricted cash 355,172 123,197 (59,441)
Cash and cash equivalents and restricted cash, beginning of period 245,769 122,572 182,013
Cash and cash equivalents and restricted cash, end of period 600,941 245,769 122,572
Supplemental disclosure of cash flow information      
Cash paid for interest 3,697 4,306 11,516
Cash paid for income taxes 61,900 68,381 59,903
Supplemental disclosure of non-cash investing and financing activities      
Purchases of property and equipment included in accounts payable 1,536 1,206 469
Allowance for credit losses, net of tax   3,832  
Lease adoption - recognition of right of use assets and lease liabilities     498
ROU Asset and Liability recognition $ 3,368 $ 33,250 14,203
Reclassification of interest rate corridor due to expiration     $ 1,100