XML 43 R2.htm IDEA: XBRL DOCUMENT v3.3.0.814
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 68,940 $ 93,832
Restricted cash 13,688 22,938
Short-term investments 116,790 122,858
Total cash and cash equivalents, restricted cash and short-term investments 199,418 239,628
Student receivables, net of allowance for doubtful accounts of $13,283 and $12,398 as of September 30, 2015 and December 31, 2014, respectively 27,696 24,564
Receivables, other, net 4,415 18,925
Prepaid expenses 13,360 14,679
Inventories 2,353 3,305
Other current assets 1,565 2,384
Assets held for sale 29,239 76,846
Assets of discontinued operations 347 473
Total current assets 278,393 380,804
NON-CURRENT ASSETS:    
Property and equipment, net 54,680 73,083
Goodwill 87,356 87,356
Intangible assets, net 7,900 9,819
Student receivables, net of allowance for doubtful accounts of $1,628 and $2,119 as of September 30, 2015 and December 31, 2014, respectively 2,874 2,926
Other assets 16,901 18,571
Assets of discontinued operations 780 975
TOTAL ASSETS [1] 448,884 573,534
CURRENT LIABILITIES:    
Short-term borrowings   10,000
Accounts payable 28,293 21,968
Accrued expenses:    
Payroll and related benefits 31,208 29,545
Advertising and production costs 15,026 13,162
Income taxes 1,717 1,633
Other 22,295 21,440
Deferred tuition revenue 31,004 37,572
Liabilities held for sale 45,187 50,357
Liabilities of discontinued operations 12,355 15,506
Total current liabilities 187,085 201,183
NON-CURRENT LIABILITIES:    
Deferred rent obligations 34,999 48,381
Other liabilities 19,760 19,178
Liabilities of discontinued operations 12,597 22,859
Total non-current liabilities $ 67,356 $ 90,418
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 300,000,000 shares authorized; 82,874,634 and 82,336,689 shares issued, 67,981,417 and 67,521,038 shares outstanding as of September 30, 2015 and December 31, 2014, respectively $ 829 $ 823
Additional paid-in capital 610,063 606,531
Accumulated other comprehensive loss (620) (853)
Retained deficit (200,242) (109,403)
Cost of 14,893,217 and 14,815,651 shares in treasury as of September 30, 2015 and December 31, 2014, respectively (215,587) (215,165)
Total stockholders' equity 194,443 281,933
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 448,884 $ 573,534
[1] Total assets do not include intercompany receivable or payable activity between schools and corporate and investments in subsidiaries.