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

12 Months Ended

Dec. 31, 2014

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

Schedule of restricted stock and restricted stock units activity

				Number of shares				Weighted-average grant price
Balance, December 31, 2011					380,944			$	194.26
Grants					82,741				111.44
Vested shares					(26,189	)			195.58
Forfeitures					(3,057	)			127.51
Balance, December 31, 2012					434,439			$	178.88
Grants					225,741				57.90
Vested shares					(51,916	)			164.22
Forfeitures					(120,491	)			140.30
Balance, December 31, 2013					487,773			$	131.51
Grants					108,606				38.95
Vested shares					(69,434	)			158.97
Forfeitures					(2,729	)			93.44
Balance, December 31, 2014					524,216			$	115.67

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, 2011					100,000			$	107.28				1.1			$	—
Grants					—				—
Exercises					—				—
Forfeitures					—				—
Balance, December 31, 2012					100,000			$	107.28				0.1			$	—
Grants					100,000				51.95
Exercises					—				—
Forfeitures/Expirations					(100,000	)			107.28
Balance, December 31, 2013					100,000			$	51.95				7.0			$	—
Grants					—				—
Exercises					—				—
Forfeitures					—				—
Balance, December 31, 2014					100,000			$	51.95				6.0			$	2,233
Exercisable, December 31, 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.

Summary of number of shares exercisable

				Number of shares				Weighted-average exercise price
Exercisable, December 31, 2012					100,000			$	107.28
Exercisable, December 31, 2013					—			$	51.95
Exercisable, December 31, 2014					—			$	51.95

Schedule of stock-based compensation expense

				2012				2013				2014
Instruction and educational support				$	3,273			$	1,976			$	1,736
Marketing					—				—				—
Admissions advisory					—				—				—
General and administration					2,191				7,315				7,717
Stock-based compensation expense included in operating expense					5,464				9,291				9,453
Tax benefit					2,158				3,698				3,734
Stock-based compensation expense, net of tax				$	3,306			$	5,593			$	5,719

Schedule of information regarding share-based payment arrangements

				For the year ended December 31,
				2012				2013				2014
Proceeds from stock options exercised				$	—			$	—			$	—
Excess tax benefits (shortfall) related to share-based payment arrangements				$	(245	)		$	(3,567	)		$	(2,039	)
Intrinsic value of stock options exercised				$	—			$	—			$	—

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Tabular disclosure of the amount of cash proceeds received from the exercise of stock options and similar instruments granted under share-based payment arrangements and the tax benefit realized from stock options exercised during the period. Disclosure may also include the intrinsic value of stock options exercised during the period.

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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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Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) currently exercisable (or convertible).

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