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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2013
Stockholders' Equity [Abstract]  
Schedule of restricted stock activity
 
   
Number
of shares
or units
   
Weighted-
average grant
price
 
Balance, December 31, 2012
   
434,439
   
$
178.88
 
Grants
   
165,712
   
$
62.28
 
Vested shares
   
(32,568
)
 
$
189.61
 
Forfeitures
   
(47,054
)
 
$
215.71
 
Balance, March 31, 2013
   
520,529
   
$
137.76
 
 
 
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, 2012
   
100,000
   
$
107.28
     
0.1
   
 $
 
Grants
   
100,000
     
51.95
                 
Exercises
   
     
                 
Forfeitures/Expirations
   
(100,000
)
   
107.28
                 
Balance, March 31, 2013
   
100,000
   
$
51.95
     
7.8
   
 $
 
Exercisable, March 31, 2013
   
   
$
     
     
 
_______
(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 holder had the options been exercised on the respective trading day. The amount of 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 March 31,
 
   
2012
   
2013
 
Instruction and educational support
 
$
671
   
$
1,097
 
Marketing
   
     
 
Admissions advisory
   
     
 
General and administration
   
1,719
     
1,153
 
        Stock-based compensation expense included in operating expense
   
2,390
     
2,250
 
Tax benefit
   
944
     
895
 
Stock-based compensation expense, net of tax
 
$
1,446
   
$
1,355