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Summary of Significant Accounting Policies (Tables) | 6 Months Ended
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Dec. 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 Statements of Income (in thousands, except per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended December 31, 2022 |  | Six Months Ended December 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised | ​ | As reported | ​ | Adjustment | ​ | As revised
Revenue | ​ | $ | 363,302 | ​ | $ | (468) | ​ | $ | 362,834 | ​ | $ | 717,861 | ​ | $ | (758) | ​ | $ | 717,103
Operating cost and expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Student services and administrative expense | ​ |  | 140,668 | ​ | ​ | 1,134 | ​ |  | 141,802 | ​ |  | 289,009 | ​ | ​ | (822) | ​ |  | 288,187
Business integration expense | ​ |  | 15,941 | ​ | ​ | (1,125) | ​ |  | 14,816 | ​ |  | 24,356 | ​ | ​ | — | ​ |  | 24,356
Total operating cost and expense | ​ |  | 317,275 | ​ | ​ | 9 | ​ |  | 317,284 | ​ |  | 648,741 | ​ | ​ | (822) | ​ |  | 647,919
Operating income | ​ |  | 46,027 | ​ | ​ | (477) | ​ |  | 45,550 | ​ |  | 69,120 | ​ | ​ | 64 | ​ |  | 69,184
Other expense, net | ​ | ​ | (2,574) | ​ | ​ | 1,134 | ​ | ​ | (1,440) | ​ | ​ | (1,007) | ​ | ​ | 328 | ​ | ​ | (679)
Income from continuing operations before income taxes | ​ |  | 27,864 | ​ | ​ | 657 | ​ |  | 28,521 | ​ |  | 34,764 | ​ | ​ | 392 | ​ |  | 35,156
Provision for income taxes | ​ |  | (4,247) | ​ | ​ | (148) | ​ |  | (4,395) | ​ |  | (5,301) | ​ | ​ | (216) | ​ |  | (5,517)
Income from continuing operations | ​ |  | 23,617 | ​ | ​ | 509 | ​ |  | 24,126 | ​ |  | 29,463 | ​ | ​ | 176 | ​ |  | 29,639
Discontinued operations: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income (loss) from discontinued operations before income taxes | ​ | ​ | 524 | ​ | ​ | — | ​ | ​ | 524 | ​ | ​ | (2,914) | ​ | ​ | 173 | ​ | ​ | (2,741)
(Provision for) benefit from income taxes | ​ | ​ | (182) | ​ | ​ | — | ​ | ​ | (182) | ​ | ​ | 2,961 | ​ | ​ | (1,440) | ​ | ​ | 1,521
Income (loss) from discontinued operations | ​ | ​ | 527 | ​ | ​ | — | ​ | ​ | 527 | ​ | ​ | (3,127) | ​ | ​ | (1,267) | ​ | ​ | (4,394)
Net income | ​ |  | 24,144 | ​ | ​ | 509 | ​ |  | 24,653 | ​ |  | 26,336 | ​ | ​ | (1,091) | ​ |  | 25,245
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings (loss) per share: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Continuing operations | ​ | $ | 0.52 | ​ | $ | 0.01 | ​ | $ | 0.53 | ​ | $ | 0.65 | ​ | $ | 0.00 | ​ | $ | 0.65
Discontinued operations | ​ | $ | 0.01 | ​ | $ | 0.00 | ​ | $ | 0.01 | ​ | $ | (0.07) | ​ | $ | (0.03) | ​ | $ | (0.10)
Total basic earnings per share | ​ | $ | 0.53 | ​ | $ | 0.01 | ​ | $ | 0.54 | ​ | $ | 0.58 | ​ | $ | (0.02) | ​ | $ | 0.56
Diluted: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Continuing operations | ​ | $ | 0.51 | ​ | $ | 0.01 | ​ | $ | 0.52 | ​ | $ | 0.64 | ​ | $ | 0.00 | ​ | $ | 0.64
Discontinued operations | ​ | $ | 0.01 | ​ | $ | 0.00 | ​ | $ | 0.01 | ​ | $ | (0.07) | ​ | $ | (0.03) | ​ | $ | (0.10)
Total diluted earnings per share | ​ | $ | 0.52 | ​ | $ | 0.01 | ​ | $ | 0.53 | ​ | $ | 0.57 | ​ | $ | (0.02) | ​ | $ | 0.55
​ 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 December 31, 2022 |  | Six Months Ended December 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised | ​ | As reported | ​ | Adjustment | ​ | As revised
Net income | ​ | $ | 24,144 | ​ | $ | 509 | ​ | $ | 24,653 | ​ | $ | 26,336 | ​ | $ | (1,091) | ​ | $ | 25,245
Other comprehensive income (loss), net of tax: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss on foreign currency translation adjustments | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (1,267) | ​ | ​ | 1,267 | ​ | ​ | —
Comprehensive income before reclassification | ​ |  | 24,144 | ​ | ​ | 509 | ​ |  | 24,653 | ​ |  | 25,069 | ​ | ​ | 176 | ​ |  | 25,245
Comprehensive income | ​ |  | 24,144 | ​ | ​ | 509 | ​ |  | 24,653 | ​ |  | 25,069 | ​ | ​ | 176 | ​ |  | 25,245
​ The following table summarizes the effect of the revisions on the affected line items within the Consolidated Statements of Cash Flows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended December 31, 2022
​ | ​ | As reported | ​ | Adjustment | ​ | As revised
Operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ | $ | 26,336 | ​ | $ | (1,091) | ​ | $ | 25,245
Loss from discontinued operations | ​ | ​ | 3,127 | ​ | ​ | 1,267 | ​ | ​ | 4,394
Income from continuing operations | ​ | ​ | 29,463 | ​ | ​ | 176 | ​ | ​ | 29,639
Adjustments to reconcile net income to net cash provided by operating activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss on investments | ​ | ​ | 5,000 | ​ | ​ | (50) | ​ | ​ | 4,950
Changes in assets and liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaid expenses and other current assets | ​ | ​ | 227 | ​ | ​ | 267 | ​ | ​ | 494
Accrued payroll and benefits | ​ | ​ | (24,145) | ​ | ​ | (1,150) | ​ | ​ | (25,295)
Deferred revenue | ​ | ​ | (29,182) | ​ | ​ | 758 | ​ | ​ | (28,424)
Net cash provided by operating activities-continuing operations | ​ | ​ | 42,276 | ​ | ​ | 1 | ​ | ​ | 42,277
Net cash provided by operating activities | ​ | ​ | 41,414 | ​ | ​ | 1 | ​ | ​ | 41,415
Investing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Proceeds from sales of marketable securities | ​ | ​ | — | ​ | ​ | 1,256 | ​ | ​ | 1,256
Purchases of marketable securities | ​ | ​ | — | ​ | ​ | (1,257) | ​ | ​ | (1,257)
Net cash used in investing activities-continuing operations | ​ | ​ | (9,747) | ​ | ​ | (1) | ​ | ​ | (9,748)
Net cash used in investing activities | ​ | ​ | (12,921) | ​ | ​ | (1) | ​ | ​ | (12,922)
​ 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
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 December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ |  | 24,144 | ​ | ​ | 509 | ​ |  | 24,653
Six Months Ended December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income | ​ |  | 26,336 | ​ | ​ | (1,091) | ​ |  | 25,245
Other comprehensive loss, net of tax | ​ |  | (1,267) | ​ | ​ | 1,267 | ​ |  | —
​

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