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Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
REVENUE:      
Tuition and registration fees $ 842,062 $ 905,482 $ 1,004,091
Other 5,211 8,482 13,139
Total revenue 847,273 913,964 1,017,230
OPERATING EXPENSES:      
Educational services and facilities 289,777 323,259 361,067
General and administrative 564,211 640,454 734,338
Depreciation and amortization 24,938 53,382 62,237
Asset impairment 60,515 36,141 21,647
Total operating expenses 939,441 1,053,236 1,179,289
Operating loss (92,168) (139,272) (162,059)
OTHER INCOME (EXPENSE):      
Interest income 794 851 1,361
Interest expense (835) (491) (1,354)
Loss on sale of business (1,793)   (6,905)
Miscellaneous (expense) income (436) 86 134
Total other (expense) income (2,270) 446 (6,764)
PRETAX LOSS (94,438) (138,826) (168,823)
(Benefit from) provision for income taxes (147,454) 3,736 456
INCOME (LOSS) FROM CONTINUING OPERATIONS 53,016 (142,562) (169,279)
(LOSS) INCOME FROM DISCONTINUED OPERATIONS, net of tax (1,131) (35,601) 5,016 [1]
NET INCOME (LOSS) 51,885 (178,163) (164,263)
OTHER COMPREHENSIVE INCOME (LOSS), net of tax:      
Foreign currency translation adjustments     4,295
Unrealized losses on investments (27) (350) (13)
Total other comprehensive (loss) income (27) (350) 4,282
COMPREHENSIVE INCOME (LOSS) $ 51,858 $ (178,513) $ (159,981)
NET INCOME (LOSS) PER SHARE - BASIC:      
Income (loss) from continuing operations $ 0.78 $ (2.12) $ (2.54)
(Loss) income from discontinued operations (0.02) (0.53) 0.08
Net income (loss) per share 0.76 [2] (2.65) (2.46)
NET INCOME (LOSS) PER SHARE - DILUTED:      
Income (loss) from continuing operations 0.78 (2.12) (2.54)
(Loss) income from discontinued operations (0.02) (0.53) 0.08 [1]
Net income (loss) per share $ 0.76 [2] $ (2.65) $ (2.46)
WEIGHTED AVERAGE SHARES OUTSTANDING:      
Basic 67,860 67,173 [3] 66,738 [3]
Diluted 68,328 67,173 [3] 66,738 [3]
[1] The income tax expense associated with the gain on sale of our International Segment approximates $87.9 million.
[2] Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the annual earnings per share amount for the corresponding year.
[3] Due to the fact that we reported a loss from continuing operations for the years ended December 31, 2014 and 2013, potential common stock equivalents were excluded from the diluted common shares outstanding calculation. Per FASB ASC Topic 260 – Earnings per Share, an entity that reports discontinued operations shall use income or loss from continuing operations as the benchmark for calculating diluted common shares outstanding, and as such, we have zero common stock equivalents since these shares would have an anti-dilutive effect on our net loss per share for the years ended December 31, 2014 and 2013.