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Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 45,201 $ 65,438
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of gain on sale of assets (140) (140)
Amortization of deferred rent 148 599
Gain on sale of marketable securities    (66)
Amortization of deferred financing costs 399 264
Depreciation and amortization 11,749 10,165
Deferred income taxes (1,531) (256)
Stock-based compensation 5,830 6,328
Changes in assets and liabilities:    
Tuition receivable, net 788 (338)
Other current assets 357 (874)
Other assets (133) 36
Accounts payable and accrued expenses (7,752) (2,936)
Income taxes payable and income taxes receivable (136) 4,433
Unearned tuition (12,203) 4,503
Other long-term liabilities 84 277
Net cash provided by operating activities 42,661 87,433
Cash flows from investing activities:    
Purchases of property and equipment (9,871) (18,062)
Purchases of marketable securities    (2)
Proceeds from the sale of marketable securities    12,388
Net cash used in investing activities (9,871) (5,676)
Cash flows from financing activities:    
Common dividends paid (23,737) (25,183)
Repurchase of common stock    (182,664)
Proceeds from revolving credit facility 28,000 95,000
Payments on revolving credit facility (33,000) (80,000)
Proceeds from term loan    100,000
Payments on term loan (12,500)   
Payment of deferred financing costs    (2,459)
Net cash used in financing activities (41,237) (95,306)
Net decrease in cash and cash equivalents (8,447) (13,549)
Cash and cash equivalents – beginning of period 57,137 64,107
Cash and cash equivalents – end of period 48,690 50,558
Non-cash transactions:    
Purchases of property and equipment included in accounts payable $ 585 $ 2,267