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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 49,663 $ 66,919
Restricted cash 1,375 49,821
Restricted short-term investments 9,610  
Short-term investments 140,812 114,901
Total cash and cash equivalents, restricted cash and short-term investments 201,460 231,641
Student receivables, net of allowance for doubtful accounts of $19,233 and $18,013 as of June 30, 2016 and December 31, 2015, respectively 27,502 31,618
Receivables, other, net 781 5,194
Prepaid expenses 16,160 14,380
Inventories 2,107 3,353
Other current assets 1,537 2,523
Assets of discontinued operations 159 254
Total current assets 249,706 288,963
NON-CURRENT ASSETS:    
Property and equipment, net 48,574 58,249
Goodwill 87,356 87,356
Intangible assets, net 8,900 9,300
Student receivables, net of allowance for doubtful accounts of $1,775 and $2,216 as of June 30, 2016 and December 31, 2015, respectively 3,333 3,958
Deferred income tax assets, net 130,188 137,716
Other assets 16,043 16,562
Assets of discontinued operations 8,694 8,811
TOTAL ASSETS [1] 552,794 610,915
CURRENT LIABILITIES:    
Short-term borrowings   38,000
Accounts payable 13,831 25,906
Accrued expenses:    
Payroll and related benefits 32,120 38,789
Advertising and marketing costs 10,325 11,788
Income taxes 1,600 1,061
Other 24,701 24,082
Deferred tuition revenue 37,398 40,112
Liabilities of discontinued operations 9,376 13,067
Total current liabilities 129,351 192,805
NON-CURRENT LIABILITIES:    
Deferred rent obligations 39,152 45,927
Other liabilities 23,192 25,197
Liabilities of discontinued operations 6,940 9,376
Total non-current liabilities 69,284 80,500
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; 83,431,251 and 82,996,585 shares issued, 68,418,122 and 68,098,654 shares outstanding as of June 30, 2016 and December 31, 2015, respectively 834 830
Additional paid-in capital 612,449 610,784
Accumulated other comprehensive loss (330) (880)
Accumulated deficit (42,668) (57,518)
Cost of 15,013,129 and 14,897,931 shares in treasury as of June 30, 2016 and December 31, 2015, respectively (216,126) (215,606)
Total stockholders' equity 354,159 337,610
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 552,794 $ 610,915
[1] Total assets do not include intercompany receivable or payable activity between schools and corporate and investments in subsidiaries.