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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 37,932 $ 108,687
Restricted cash 4,000  
Total cash, cash equivalents and restricted cash 41,932 108,687
Short-term investments 243,651 185,488
Total cash and cash equivalents, restricted cash and short-term investments 285,583 294,175
Student receivables, gross 66,638 84,874
Allowance for credit losses (34,065) (29,856)
Student receivables, net 32,573 55,018
Receivables, other 1,576 1,381
Prepaid expenses 10,389 7,299
Inventories 553 576
Other current assets 1,619 1,936
Total current assets 332,293 360,385
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $95,588 and $92,933 as of March 31, 2020 and December 31, 2019, respectively 28,349 26,006
Right of use asset, net 51,088 50,366
Goodwill 118,777 87,356
Intangible assets, net of amortization of $1,400 as of both March 31, 2020 and December 31, 2019 18,300 7,900
Student receivables, gross 3,172 3,352
Allowance for credit losses (2,030) (2,108)
Student receivables, net 1,142 1,244
Deferred income tax assets, net 50,701 60,169
Other assets 5,876 5,720
TOTAL ASSETS [1] 606,526 599,146
CURRENT LIABILITIES:    
Lease liability-operating 12,419 11,784
Accounts payable 9,624 11,533
Accrued expenses:    
Payroll and related benefits 12,532 27,616
Advertising and marketing costs 11,478 10,479
Income taxes 1,489 1,376
Other 15,745 16,378
Deferred revenue 29,002 24,647
Total current liabilities 92,289 103,813
NON-CURRENT LIABILITIES:    
Lease liability-operating 51,699 52,391
Other liabilities 17,395 11,647
Total non-current liabilities 69,094 64,038
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; 86,209,338 and 85,953,253 shares issued, 69,061,469 and 70,151,357 shares outstanding as of March 31, 2020 and December 31, 2019, respectively 862 860
Additional paid-in capital 642,958 639,335
Accumulated other comprehensive (loss) income (543) 344
Retained earnings 47,177 18,071
Treasury stock, at cost; 17,147,869 and 15,801,896 shares as of March 31, 2020 and December 31, 2019, respectively (245,311) (227,315)
Total stockholders' equity 445,143 431,295
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 606,526 $ 599,146
[1] Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.