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Stockholders' Equity (Tables) | 6 Months Ended
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Jun. 30, 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 |  |  | 225,741 |  |  | $ | 57.90 |
Vested shares |  |  | (51,916 | ) |  | $ | 164.22 |
Forfeitures |  |  | (47,487 | ) |  | $ | 214.80 |
Balance, June 30, 2013 |  |  | 560,777 |  |  | $ | 135.25 |
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 |  |  |  |  |  |  |  |  |
Forfeitures/Expirations |  |  | (100,000 | ) |  |  | 107.28 |  |  |  |  |  |  |  |  |
Balance, June 30, 2013 |  |  | 100,000 |  |  | $ | 51.95 |  |  |  | 7.5 |  |  | $ | — |
Exercisable, June 30, 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 June 30, |  |  | For the six months ended June 30, |
|  | 2012 |  |  | 2013 |  |  | 2012 |  |  | 2013 |
Instruction and educational support |  | $ | 891 |  |  | $ | 844 |  |  | $ | 1,562 |  |  | $ | 1,941 |
Marketing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Admissions advisory |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
General and administration |  |  | 2,549 |  |  |  | 2,138 |  |  |  | 4,268 |  |  |  | 3,291 |
Stock-based compensation expense included in operating expense |  |  | 3,440 |  |  |  | 2,982 |  |  |  | 5,830 |  |  |  | 5,232 |
Tax benefit |  |  | 1,359 |  |  |  | 1,187 |  |  |  | 2,302 |  |  |  | 2,082 |
Stock-based compensation expense, net of income tax |  | $ | 2,081 |  |  | $ | 1,795 |  |  | $ | 3,528 |  |  | $ | 3,150 |

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