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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 147,590 $ 147,652 $ 95,867
Adjustments to reconcile net income to net cash provided by operating activities:      
Asset impairment 4,453 14,263 2,994
Gain on sale of asset   (22,086)  
Depreciation and amortization expense 14,645 16,887 19,734
Bad debt expense 33,719 33,215 41,574
Compensation expense related to share-based awards 10,188 8,078 8,751
Deferred income taxes 2,656 3,761 (720)
Changes in operating assets and liabilities:      
Student receivables, gross (4) 15,929 6,380
Allowance for credit losses (27,981) (38,573) (38,992)
Receivables, other (8,052) (3,922) (1,670)
Inventories, prepaid expenses, and other current assets 4,473 (2,994) 2,640
Other non-current assets 692 478 843
Accounts payable (727) (4,878) 1,922
Accrued expenses and other non-current liabilities (5,792) (19,235) 22,332
Deferred revenue (10,612) (34,375) (11,767)
Right of use asset and lease liability - operating leases (3,654) (2,175) (1,702)
Net cash provided by operating activities 161,594 112,025 148,186
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchases of available-for-sale investments (412,894) (314,279) (492,100)
Sales of available-for-sale investments 447,502 238,184 262,277
Purchases of property and equipment (4,625) (6,411) (12,620)
Business acquisitions, net of cash acquired (137,766)   (84,308)
Earnout payment related to business acquisition   (6,000)  
Net cash used in investing activities (107,783) (88,506) (326,751)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Purchase of treasury stock (6,769) (8,301) (23,117)
Issuance of common stock 2,234 2,545 1,197
Payments of employee tax associated with stock compensation (3,436) (2,209) (1,612)
Payments of cash dividends and dividend equivalents (31,699) (14,417)  
Release of cash held in escrow (276) (1,000) (4,197)
Principal payments for finance leases (398)    
Principal payments for failed sale leaseback (735)    
Net cash used in financing activities (41,079) (23,382) (27,729)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 12,732 137 (206,294)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the year 119,021 118,884 325,178
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the year 131,753 119,021 118,884
Supplemental Cash Flow Information:      
Income taxes paid 46,843 41,763 28,940
Supplemental Non-Cash Disclosures:      
Amount placed in escrow to secure indemnification obligations from business acquisitions     8,500
Non-cash additions to property and equipment 247 $ 329 $ (1,953)
Right of use assets obtained in exchange for lease liabilities $ 3,310