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Stock Options, Restricted Stock and Restricted Stock Units (Tables)

9 Months Ended

Sep. 30, 2014

Stock Options, Restricted Stock and Restricted Stock Units [Abstract]

Schedule of restricted stock and restricted stock units activity

		Number of shares or units				Weighted- average grant price
Balance, December 31, 2013			487,773			$	131.51
Grants			108,606			$	38.95
Vested shares			(61,600	)		$	175.13
Forfeitures			(2,729	)		$	93.44
Balance, September 30, 2014			532,050			$	115.85

Schedule of stock option activity and other stock option information

		Number of shares				Weighted-average exercise price				Weighted-average  remaining contractual life (years)				Aggregate intrinsic value(1) (in thousands)
Balance, December 31, 2013			100,000			$	51.95				7.0			$	—
Grants			—				—
Exercises			—				—
Forfeitures/Expirations			—				—
Balance, September 30, 2014			100,000			$	51.95				6.3			$	793
Exercisable, September 30, 2014			—			$	—				—			$	—

(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 all 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 September 30,								For the nine months ended September 30,
		2013				2014				2013				2014
Instruction and educational support		$	815			$	406			$	2,756			$	1,314
Marketing			—				—				—				—
Admissions advisory			—				—				—				—
General and administration			2,351				2,145				5,642				5,744
Stock-based compensation expense included in operating expense			3,166				2,551				8,398				7,058
Tax benefit			1,260				1,015				3,342				2,809
Stock-based compensation expense, net of income tax		$	1,906			$	1,536			$	5,056			$	4,249

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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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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