XML 49 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Unaudited Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:    
Net income $ 35,382 $ 49,303
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of gain on sale of assets (210) (210)
Amortization of deferred rent (216) 173
Amortization of deferred financing costs 585 599
Depreciation and amortization 18,561 17,857
Deferred income taxes (3,503) (2,827)
Stock-based compensation 8,398 9,358
Changes in assets and liabilities:    
Tuition receivable, net 3,576 897
Other current assets 1,668 (1,992)
Other assets (2) (134)
Accounts payable and accrued expenses 188 5,307
Income taxes payable and income taxes receivable 6,591 (7,630)
Unearned tuition 769 (14,201)
Other long-term liabilities 374 746
Net cash provided by operating activities 72,161 57,246
Cash flows from investing activities:    
Purchases of property and equipment (7,115) (18,165)
Net cash used in investing activities (7,115) (18,165)
Cash flows from financing activities:    
Repurchase of common stock (24,999)   
Payments on term loan (2,344) (20,000)
Payments on revolving credit facility    (48,000)
Proceeds from revolving credit facility    53,000
Common dividends paid    (35,609)
Net cash used in financing activities (27,343) (50,609)
Net (decrease) increase in cash and cash equivalents 37,703 (11,528)
Cash and cash equivalents - beginning of period 47,517 57,137
Cash and cash equivalents - end of period 85,220 45,609
Non-cash transactions:    
Purchases of property and equipment included in accounts payable $ 274 $ 2,132