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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Mar. 31, 2023
Accounting Policies [Abstract] |
Summary of effect of revision on affected line items within financial statements | The following table summarizes the effect of the revisions on the affected line items within the Consolidated Balance Sheets (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022 |  | March 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised | ​ | As reported | ​ | Adjustment | ​ | As revised
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaid expenses and other current assets | ​ | $ | 126,467 | ​ | $ | 1,065 | ​ | $ | 127,532 | ​ | $ | 123,505 | ​ | $ | 1,463 | ​ | $ | 124,968
Total current assets | ​ |  | 556,039 | ​ | ​ | 1,065 | ​ |  | 557,104 | ​ |  | 1,010,996 | ​ | ​ | 1,463 | ​ |  | 1,012,459
Total assets | ​ |  | 3,029,175 | ​ | ​ | 1,065 | ​ |  | 3,030,240 | ​ |  | 3,518,460 | ​ | ​ | 1,463 | ​ |  | 3,519,923
Liabilities and shareholders' equity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued payroll and benefits | ​ | ​ | 66,642 | ​ | ​ | 1,150 | ​ | ​ | 67,792 | ​ | ​ | 56,705 | ​ | ​ | 805 | ​ | ​ | 57,510
Deferred revenue | ​ | ​ | 144,840 | ​ | ​ | 4,970 | ​ | ​ | 149,810 | ​ | ​ | 167,576 | ​ | ​ | 4,361 | ​ | ​ | 171,937
Total current liabilities | ​ |  | 417,527 | ​ | ​ | 6,120 | ​ |  | 423,647 | ​ |  | 521,206 | ​ | ​ | 5,166 | ​ |  | 526,372
Noncurrent liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other liabilities | ​ |  | 65,074 | ​ | ​ | 8,626 | ​ |  | 73,700 | ​ |  | 65,729 | ​ | ​ | 8,651 | ​ |  | 74,380
Total noncurrent liabilities | ​ |  | 1,106,581 | ​ | ​ | 8,626 | ​ |  | 1,115,207 | ​ |  | 1,505,947 | ​ | ​ | 8,651 | ​ |  | 1,514,598
Total liabilities | ​ |  | 1,524,108 | ​ | ​ | 14,746 | ​ |  | 1,538,854 | ​ |  | 2,027,153 | ​ | ​ | 13,817 | ​ |  | 2,040,970
Shareholders' equity: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ |  | 2,322,810 | ​ | ​ | (12,414) | ​ |  | 2,310,396 | ​ |  | 2,314,796 | ​ | ​ | (11,146) | ​ |  | 2,303,650
Accumulated other comprehensive loss | ​ | ​ | (960) | ​ | ​ | (1,267) | ​ | ​ | (2,227) | ​ | ​ | (2,209) | ​ | ​ | (1,208) | ​ | ​ | (3,417)
Total shareholders' equity | ​ |  | 1,505,067 | ​ | ​ | (13,681) | ​ |  | 1,491,386 | ​ |  | 1,491,307 | ​ | ​ | (12,354) | ​ |  | 1,478,953
Total liabilities and shareholders' equity | ​ |  | 3,029,175 | ​ | ​ | 1,065 | ​ |  | 3,030,240 | ​ |  | 3,518,460 | ​ | ​ | 1,463 | ​ |  | 3,519,923
​ The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Income (in thousands, except per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2022 |  | Nine Months Ended March 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised | ​ | As reported | ​ | Adjustment | ​ | As revised
Revenue | ​ | $ | 365,623 | ​ | $ | (1,342) | ​ | $ | 364,281 | ​ | $ | 1,025,891 | ​ | $ | (4,696) | ​ | $ | 1,021,195
Operating cost and expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Student services and administrative expense | ​ |  | 149,890 | ​ | ​ | (1,027) | ​ |  | 148,863 | ​ |  | 432,923 | ​ | ​ | 456 | ​ |  | 433,379
Total operating cost and expense | ​ |  | 332,359 | ​ | ​ | (1,027) | ​ |  | 331,332 | ​ |  | 989,956 | ​ | ​ | 456 | ​ |  | 990,412
Operating income | ​ |  | 33,264 | ​ | ​ | (315) | ​ |  | 32,949 | ​ |  | 35,935 | ​ | ​ | (5,152) | ​ |  | 30,783
Other income (expense), net | ​ | ​ | 1,045 | ​ | ​ | (1,372) | ​ | ​ | (327) | ​ | ​ | 2,784 | ​ | ​ | (349) | ​ | ​ | 2,435
Loss from continuing operations before income taxes | ​ |  | (2,276) | ​ | ​ | (1,687) | ​ |  | (3,963) | ​ |  | (71,188) | ​ | ​ | (5,501) | ​ |  | (76,689)
Benefit from income taxes | ​ |  | 8,133 | ​ | ​ | 230 | ​ |  | 8,363 | ​ |  | 38,897 | ​ | ​ | 700 | ​ |  | 39,597
Income (loss) from continuing operations | ​ |  | 5,857 | ​ | ​ | (1,457) | ​ |  | 4,400 | ​ |  | (32,291) | ​ | ​ | (4,801) | ​ |  | (37,092)
Discontinued operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income from discontinued operations before income taxes | ​ | ​ | 4,071 | ​ | ​ | (645) | ​ | ​ | 3,426 | ​ | ​ | 2,180 | ​ | ​ | (645) | ​ | ​ | 1,535
Income from discontinued operations | ​ | ​ | 343,985 | ​ | ​ | (645) | ​ | ​ | 343,340 | ​ | ​ | 341,982 | ​ | ​ | (645) | ​ | ​ | 341,337
Net income | ​ |  | 349,842 | ​ | ​ | (2,102) | ​ |  | 347,740 | ​ |  | 309,691 | ​ | ​ | (5,446) | ​ |  | 304,245
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings (loss) per share: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 0.12 | ​ | $ | (0.03) | ​ | $ | 0.09 | ​ | $ | (0.65) | ​ | $ | (0.10) | ​ | $ | (0.75)
Discontinued operations | ​ | $ | 7.03 | ​ | $ | (0.01) | ​ | $ | 7.02 | ​ | $ | 6.91 | ​ | $ | (0.01) | ​ | $ | 6.90
Total basic earnings per share | ​ | $ | 7.15 | ​ | $ | (0.04) | ​ | $ | 7.11 | ​ | $ | 6.26 | ​ | $ | (0.11) | ​ | $ | 6.15
Diluted: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Continuing operations | ​ | $ | 0.12 | ​ | $ | (0.03) | ​ | $ | 0.09 | ​ | $ | (0.65) | ​ | $ | (0.10) | ​ | $ | (0.75)
Discontinued operations | ​ | $ | 6.97 | ​ | $ | (0.02) | ​ | $ | 6.95 | ​ | $ | 6.91 | ​ | $ | (0.01) | ​ | $ | 6.90
Total diluted earnings per share | ​ | $ | 7.09 | ​ | $ | (0.05) | ​ | $ | 7.04 | ​ | $ | 6.26 | ​ | $ | (0.11) | ​ | $ | 6.15
​ To conform to current period presentation, the previously reported interest and dividend income and investment gain lines have been condensed to other income (expense), net. The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Comprehensive Income (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, 2022 |  | Nine Months Ended March 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised | ​ | As reported | ​ | Adjustment | ​ | As revised
Net income | ​ | $ | 349,842 | ​ | $ | (2,102) | ​ | $ | 347,740 | ​ | $ | 309,691 | ​ | $ | (5,446) | ​ | $ | 304,245
Comprehensive income before reclassification | ​ |  | 349,818 | ​ | ​ | (2,102) | ​ |  | 347,716 | ​ |  | 309,703 | ​ | ​ | (5,446) | ​ |  | 304,257
Reclassification adjustment for realized gain on foreign currency translation adjustments | ​ | ​ | (1,551) | ​ | ​ | 645 | ​ | ​ | (906) | ​ | ​ | (1,551) | ​ | ​ | 645 | ​ | ​ | (906)
Comprehensive income | ​ |  | 348,267 | ​ | ​ | (1,457) | ​ |  | 346,810 | ​ |  | 314,847 | ​ | ​ | (4,801) | ​ |  | 310,046
​ The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Cash Flows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended March 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised
Operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 309,691 | ​ | $ | (5,446) | ​ | $ | 304,245
Income from discontinued operations | ​ | ​ | (341,982) | ​ | ​ | 645 | ​ | ​ | (341,337)
Loss from continuing operations | ​ | ​ | (32,291) | ​ | ​ | (4,801) | ​ | ​ | (37,092)
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss on investments | ​ | ​ | — | ​ | ​ | 807 | ​ | ​ | 807
Changes in assets and liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaid expenses and other current assets | ​ | ​ | 3,531 | ​ | ​ | (1,133) | ​ | ​ | 2,398
Accrued payroll and benefits | ​ | ​ | (23,221) | ​ | ​ | 805 | ​ | ​ | (22,416)
Deferred revenue | ​ | ​ | 87,811 | ​ | ​ | 4,696 | ​ | ​ | 92,507
Net cash provided by operating activities-continuing operations | ​ | ​ | 58,397 | ​ | ​ | 374 | ​ | ​ | 58,771
Net cash provided by operating activities | ​ | ​ | 51,482 | ​ | ​ | 374 | ​ | ​ | 51,856
Investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from sales of marketable securities | ​ | ​ | — | ​ | ​ | 941 | ​ | ​ | 941
Purchases of marketable securities | ​ | ​ | — | ​ | ​ | (1,315) | ​ | ​ | (1,315)
Net cash used in investing activities-continuing operations | ​ | ​ | (1,500,303) | ​ | ​ | (374) | ​ | ​ | (1,500,677)
Net cash used in investing activities | ​ | ​ | (540,938) | ​ | ​ | (374) | ​ | ​ | (541,312)
​ The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Shareholders’ Equity (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As reported | ​ | Adjustment | ​ | As revised
June 30, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ | $ | 2,005,105 | ​ | $ | (5,700) | ​ | $ | 1,999,405
Accumulated other comprehensive loss | ​ | ​ | (7,365) | ​ | ​ | (1,853) | ​ | ​ | (9,218)
Total shareholders' equity | ​ |  | 1,301,070 | ​ | ​ | (7,553) | ​ |  | 1,293,517
December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ |  | 1,964,954 | ​ | ​ | (9,044) | ​ |  | 1,955,910
Accumulated other comprehensive loss | ​ | ​ | (634) | ​ | ​ | (1,853) | ​ | ​ | (2,487)
Total shareholders' equity | ​ |  | 1,287,890 | ​ | ​ | (10,897) | ​ |  | 1,276,993
March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ |  | 2,314,796 | ​ | ​ | (11,146) | ​ |  | 2,303,650
Accumulated other comprehensive loss | ​ |  | (2,209) | ​ | ​ | (1,208) | ​ |  | (3,417)
Total shareholders' equity | ​ |  | 1,491,307 | ​ | ​ | (12,354) | ​ |  | 1,478,953
June 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ |  | 2,322,810 | ​ | ​ | (12,414) | ​ |  | 2,310,396
Accumulated other comprehensive loss | ​ |  | (960) | ​ | ​ | (1,267) | ​ |  | (2,227)
Total shareholders' equity | ​ |  | 1,505,067 | ​ | ​ | (13,681) | ​ |  | 1,491,386
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ |  | 2,349,146 | ​ | ​ | (13,505) | ​ |  | 2,335,641
Total shareholders' equity | ​ |  | 1,522,722 | ​ | ​ | (13,505) | ​ |  | 1,509,217
Three Months Ended March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ |  | 349,842 | ​ | ​ | (2,102) | ​ |  | 347,740
Reclassification adjustment for realized gain on foreign currency translation adjustments | ​ | ​ | (1,551) | ​ | ​ | 645 | ​ | ​ | (906)
Nine Months Ended March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ |  | 309,691 | ​ | ​ | (5,446) | ​ |  | 304,245
Reclassification adjustment for realized gain on foreign currency translation adjustments | ​ |  | (1,551) | ​ | ​ | 645 | ​ |  | (906)

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
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