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Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Stockholders' Equity [Abstract]

Schedule of restricted stock activity

		Number of shares				Weighted- average grant price
Balance, December 31, 2011			380,944			$	194.26
Grants			82,741			$	111.44
Vested shares			(20,004	)		$	217.77
Forfeitures			(907	)		$	132.23
Balance, June 30, 2012			442,774			$	178.39

Schedule of stock option activity

		Number of shares				Weighted- average exercise price				Weighted- average remaining contractual life (yrs.)				Aggregate intrinsic value (1) (in thousands)
Balance, December 31, 2011			100,000			$	107.28				1.1				—
Grants			—				—
Exercises			—				—
Forfeitures			—				—
Balance, June 30, 2012			100,000			$	107.28				0.6			$	174
Exercisable, June 30, 2012			100,000			$	107.28				0.6			$	174

(1) The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on the respective trading day. The amount of aggregate intrinsic value will change based on the fair market value of the Company’s common stock.

Schedule of stock-based compensation expense

		For the three months ended June 30,								For the six months ended June 30,
		2011				2012				2011				2012
Instruction and educational support		$	972			$	891			$	1,823			$	1,562
Marketing			16				—				35				—
Admissions advisory			—				—				—				—
General and administration			2,447				2,549				4,470				4,268
Stock-based compensation expense included in operating expense			3,435				3,440				6,328				5,830
Tax benefit			1,357				1,359				2,500				2,302
Stock-based compensation expense, net of income tax		$	2,078			$	2,081			$	3,828			$	3,528

Schedule of information regarding share-based payment arrangements

		For the six months ended June 30,
		2011				2012
Proceeds from stock options exercised		$	—			$	—
Tax shortfall related to exercise of stock options and vesting of restricted stock		$	(872	)		$	(393	)
Intrinsic value of stock options exercised (1)		$	—			$	—

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Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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