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Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Sep. 30, 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 Statements of Income (in thousands, except per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised
Revenue | ​ | $ | 354,559 | ​ | $ | (290) | ​ | $ | 354,269
Operating cost and expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Student services and administrative expense | ​ |  | 148,341 | ​ | ​ | (1,956) | ​ |  | 146,385
Business integration expense | ​ |  | 8,415 | ​ | ​ | 1,125 | ​ |  | 9,540
Total operating cost and expense | ​ |  | 331,466 | ​ | ​ | (831) | ​ |  | 330,635
Operating income | ​ |  | 23,093 | ​ | ​ | 541 | ​ |  | 23,634
Other income, net | ​ | ​ | 1,567 | ​ | ​ | (806) | ​ | ​ | 761
Income from continuing operations before income taxes | ​ |  | 6,900 | ​ | ​ | (265) | ​ |  | 6,635
Provision for income taxes | ​ |  | (1,054) | ​ | ​ | (68) | ​ |  | (1,122)
Income from continuing operations | ​ |  | 5,846 | ​ | ​ | (333) | ​ |  | 5,513
Discontinued operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss from discontinued operations before income taxes | ​ | ​ | (3,438) | ​ | ​ | 173 | ​ | ​ | (3,265)
Benefit from income taxes | ​ | ​ | 3,143 | ​ | ​ | (1,440) | ​ | ​ | 1,703
Loss from discontinued operations | ​ | ​ | (3,654) | ​ | ​ | (1,267) | ​ | ​ | (4,921)
Net income | ​ |  | 2,192 | ​ | ​ | (1,600) | ​ |  | 592
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings (loss) per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 0.13 | ​ | $ | (0.01) | ​ | $ | 0.12
Discontinued operations | ​ | $ | (0.08) | ​ | $ | (0.03) | ​ | $ | (0.11)
Total basic earnings per share | ​ | $ | 0.05 | ​ | $ | (0.04) | ​ | $ | 0.01
Diluted: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Continuing operations | ​ | $ | 0.13 | ​ | $ | (0.01) | ​ | $ | 0.12
Discontinued operations | ​ | $ | (0.08) | ​ | $ | (0.03) | ​ | $ | (0.11)
Total diluted earnings per share | ​ | $ | 0.05 | ​ | $ | (0.04) | ​ | $ | 0.01
​ To conform to current period presentation, the previously reported interest income line is now included within other income, net. The following table summarizes the effect of the revisions on the affected line items within the previously reported Consolidated Statements of Comprehensive Income (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised
Net income | ​ | $ | 2,192 | ​ | $ | (1,600) | ​ | $ | 592
Other comprehensive income (loss), net of tax: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss on foreign currency translation adjustments | ​ | ​ | (1,267) | ​ | ​ | 1,267 | ​ | ​ | —
Comprehensive income before reclassification | ​ |  | 925 | ​ | ​ | (333) | ​ |  | 592
Comprehensive income | ​ |  | 925 | ​ | ​ | (333) | ​ |  | 592
​ The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Cash Flows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised
Operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 2,192 | ​ | $ | (1,600) | ​ | $ | 592
Loss from discontinued operations | ​ | ​ | 3,654 | ​ | ​ | 1,267 | ​ | ​ | 4,921
Income from continuing operations | ​ | ​ | 5,846 | ​ | ​ | (333) | ​ | ​ | 5,513
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss on investments | ​ | ​ | — | ​ | ​ | 901 | ​ | ​ | 901
Changes in assets and liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaid expenses and other current assets | ​ | ​ | (1,602) | ​ | ​ | (881) | ​ | ​ | (2,483)
Accounts payable | ​ | ​ | 7,586 | ​ | ​ | 1,125 | ​ | ​ | 8,711
Accrued payroll and benefits | ​ | ​ | (11,593) | ​ | ​ | (1,150) | ​ | ​ | (12,743)
Deferred revenue | ​ | ​ | 82,398 | ​ | ​ | 290 | ​ | ​ | 82,688
Net cash provided by operating activities-continuing operations | ​ | ​ | 91,524 | ​ | ​ | (48) | ​ | ​ | 91,476
Net cash provided by operating activities | ​ | ​ | 91,394 | ​ | ​ | (48) | ​ | ​ | 91,346
Investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from sales of marketable securities | ​ | ​ | — | ​ | ​ | 356 | ​ | ​ | 356
Purchases of marketable securities | ​ | ​ | — | ​ | ​ | (308) | ​ | ​ | (308)
Net cash used in investing activities-continuing operations | ​ | ​ | (5,551) | ​ | ​ | 48 | ​ | ​ | (5,503)
Net cash used in investing activities | ​ | ​ | (6,362) | ​ | ​ | 48 | ​ | ​ | (6,314)
​ 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, 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
September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | ​ |  | 2,325,002 | ​ | ​ | (14,014) | ​ |  | 2,310,988
Total shareholders' equity | ​ |  | 1,510,039 | ​ | ​ | (14,014) | ​ |  | 1,496,025
Three Months Ended September 30, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ |  | 2,192 | ​ | ​ | (1,600) | ​ |  | 592
Other comprehensive loss, net of tax | ​ |  | (1,267) | ​ | ​ | 1,267 | ​ |  | —
​

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