XML 23 R15.htm IDEA: XBRL DOCUMENT
v3.24.2

Leases | 6 Months Ended
--- | ---
Jun. 30, 2024
Leases [Abstract] |
Leases | 7. LEASES We lease most of our administrative and educational facilities under non-cancelable operating leases expiring at various dates through 2033. Lease terms generally range from five to ten years with one to four renewal options for extended terms. In most cases, we are required to make additional payments under facility operating leases for taxes, insurance and other operating expenses incurred during the operating lease period, which are typically variable in nature. We determine if a contract contains a lease when the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Upon identification and commencement of a lease, we establish a right of use (“ROU”) asset and a lease liability. Quantitative information related to leases is presented in the following table (dollars in thousands):
| For the Quarter Ended June 30, 2024 |  | For the Year to Date Ended June 30, 2024 |
Lease expenses (1) |  |  |  |
Fixed lease expenses - operating | $ | 1,122 |  | $ | 2,566 |
Variable lease expenses - operating |  | 279 |  |  | 337 |
Total lease expenses | $ | 1,401 |  | $ | 2,903 |
Other information |  |  |  |
Gross operating cash flows for operating leases (3) | $ | (2,016 | ) | $ | (4,482 | )
| For the Quarter Ended June 30, 2023 |  | For the Year to Date Ended June 30, 2023 |
Lease expenses (1) |  |  |  |
Fixed lease expenses - operating | $ | 1,638 |  | $ | 3,334 |
Variable lease expenses - operating |  | 380 |  |  | 961 |
Sublease income (2) |  | (189 | ) |  | (500 | )
Total lease expenses | $ | 1,829 |  | $ | 3,795 |
Other information |  |  |  |
Gross operating cash flows for operating leases (3) | $ | (2,717 | ) | $ | (5,583 | )
Operating cash flows from subleases (3) | $ | 196 |  | $ | 488 |
| As of June 30, 2024 |  | As of June 30, 2023 |
Weighted average remaining lease term (in months) – operating leases |  | 69 |  |  | 60 |
Weighted average discount rate – operating leases |  | 5.1 | % |  | 4.8 | %
__________________ (1) Lease expense and sublease income represent the amount recorded within our consolidated statements of income. Variable lease amounts represent expenses recognized as incurred which are not included in the lease liability. Fixed lease expenses and sublease income are recorded on a straight-line basis over the lease term and therefore are not necessarily representative of cash payments during the same period. (2) Historically, for certain of our leased locations we had vacated the facility and had fully or partially subleased the space. As of June 30, 2024, we no longer have any subleased locations. (3) Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration