XML 69 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (164,263) $ (142,796) $ 18,573
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:      
Goodwill and asset impairment 22,691 127,007 191,524
Loss on sale of student receivables   720  
Depreciation and amortization expense 73,150 81,813 85,367
Bad debt expense 28,892 40,022 55,721
Compensation expense related to share-based awards 6,699 9,687 14,831
Gain on sale of businesses, net (123,204)   (27,085)
Gain on bargain purchase   (669)  
Loss (gain) on disposition of property and equipment 118 301 (1,711)
Deferred income taxes 58,087 (42,014) 14,226
Changes in operating assets and liabilities      
Student receivables, gross 56,072 17,913 29,917
Allowance for doubtful accounts (39,766) (57,908) (81,666)
Other receivables, net (29,526) (1,433) (738)
Inventories, prepaid expenses, and other current assets 40,257 16,244 3,418
Deposits and other non-current assets 12,244 1,654 3,356
Accounts payable (8,463) (11,984) (3,803)
Accrued expenses and deferred rent obligations (4,885) (19,473) (74,075)
Deferred tuition revenue (13,907) (35,882) 2,595
Net cash (used in) provided by operating activities (85,804) (16,798) 230,450
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of available-for-sale investments (40,842) (147,085) (189,258)
Sales of available-for-sale investments 73,070 246,464 188,322
Purchases of property and equipment (19,636) (37,944) (78,333)
Proceeds on the sale of assets     6,259
Proceeds on the sale of business, net of cash divested 156,816   16,670
Payments of cash upon sale of asset (2,525)    
Business acquisitions, net of acquired cash   (1,721) (9,851)
Other (17) (1,359) (40)
Net cash provided by (used in) investing activities 166,866 58,355 (66,231)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Purchase of treasury stock   (56,431) (150,445)
Issuance of common stock 998 1,599 4,370
Tax benefit associated with stock option exercises 1   376
Payments of assumed loans upon business acquisition   (318)  
Payments of contingent consideration   (5,818) (16,355)
Borrowings from credit facility   80,000  
Payments on borrowings (80,000)    
Change in restricted cash 85,314 (97,878)  
Payments of capital lease obligations (210) (844) (989)
Net cash provided by (used in) financing activities 6,103 (79,690) (163,043)
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS: (8,844) (1,837) (10,066)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 78,321 (39,970) (8,890)
DISCONTINUED OPERATIONS CASH ACTIVITY INCLUDED ABOVE:      
Add: Cash balance of discontinued operations, beginning of the year 127,738 109,371 116,945
Less: Cash balance of discontinued operations, end of the year   127,738 109,371
CASH AND CASH EQUIVALENTS, beginning of the year 112,884 171,221 172,537
CASH AND CASH EQUIVALENTS, end of the year 318,943 112,884 171,221
Supplemental Cash Flow Information:      
Interest paid 517 205 116
Income taxes paid $ 5,106 $ 19,102 $ 40,188