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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 32,394 $ 18,110
Restricted cash 337 789
Restricted short-term investments   5,070
Short-term investments 196,428 156,178
Total cash and cash equivalents, restricted cash and short-term investments 229,159 180,147
Student receivables, net of allowance for doubtful accounts of $23,307 and $20,533 as of December 31, 2018 and 2017, respectively 28,751 18,875
Receivables, other, net 2,567 1,163
Prepaid expenses 7,771 7,722
Inventories 763 1,112
Other current assets 437 1,319
Assets of discontinued operations   382
Total current assets 269,448 210,720
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $198,052 and $213,825 as of December 31, 2018 and 2017, respectively 30,048 33,230
Goodwill 87,356 87,356
Intangible assets, net of amortization of $1,400 as of both December 31, 2018 and 2017 7,900 7,900
Student receivables, net of allowance for doubtful accounts of $1,529 and $2,001 as of December 31, 2018 and 2017, respectively 942 2,548
Deferred income tax assets, net 81,628 98,084
Other assets 4,993 5,673
Assets of discontinued operations 178 1,585
TOTAL ASSETS [1] 482,493 447,096
CURRENT LIABILITIES:    
Accounts payable 9,195 8,515
Accrued expenses:    
Payroll and related benefits 24,530 32,910
Advertising and marketing costs 9,300 9,245
Income taxes 1,472 2,185
Other 19,668 31,233
Deferred revenue 32,351 22,897
Liabilities of discontinued operations 536 5,701
Total current liabilities 97,052 112,686
NON-CURRENT LIABILITIES:    
Deferred rent obligations 12,745 15,277
Other liabilities 17,493 22,143
Liabilities of discontinued operations   785
Total non-current liabilities 30,238 38,205
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; 85,173,686 and 84,279,533 shares issued, 69,772,910 and 69,117,803 shares outstanding as of December 31, 2018 and 2017, respectively 852 843
Additional paid-in capital 628,295 621,008
Accumulated other comprehensive loss (298) (164)
Accumulated deficit (52,946) (108,127)
Treasury stock, at cost, 15,400,776 and 15,161,730 shares as of December 31, 2018 and 2017, respectively (220,700) (217,355)
Total stockholders' equity 355,203 296,205
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 482,493 $ 447,096
[1] The statement of income (loss) and comprehensive income (loss) balances including revenue, operating income (loss), depreciation and amortization and capital expenditures are presented above on a continuing operations basis. Total assets are presented on a consolidated basis including continuing and discontinued operations.