XML 13 R39.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Term Loan and Revolving Credit Facility (Details Textual) (USD $) | 1 Months Ended | 3 Months Ended |
--- | --- | --- | ---
Nov. 30, 2012 | Mar. 31, 2015 | Mar. 31, 2014 | Nov. 08, 2012
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Maturity date | Dec. 31, 2016 |  |  |
Debt |  | $ 117,188,000 us-gaap_LongTermDebt |  |
Term loan facility, quarterly amortization payments, during 2013 |  |  |  | 781,250 stra_TermLoanFacilityAmortizationPaymentsYearOne
Term loan facility, quarterly amortization payments, during 2014 |  |  |  | 781,250 stra_TermLoanFacilityAmortizationPaymentsYearTwo
Term loan facility, quarterly amortization payments, during 2015 |  |  |  | 1,562,500 stra_TermLoanFacilityAmortizationPaymentsYearThree
Term loan facility, quarterly amortization payments, during 2016 |  |  |  | 1,562,500 stra_TermLoanFacilityAmortizationPaymentsYearFour
Quarterly payment percentage of aggregate original principal amount of term loan facility in year one and two |  |  |  | 0.625%stra_PaymentPercentageOfAggregateOriginalPrincipalAmountOfTermLoanFacilityInYearOneAndTwo
Quarterly payment percentage of aggregate original principal amount of term loan facility in year three and four |  |  |  | 1.25%stra_PaymentPercentageOfAggregateOriginalPrincipalAmountOfTermLoanFacilityInYearThreeAndFour
Cash interest paid |  | 1,100,000 us-gaap_InterestPaid | 1,200,000 us-gaap_InterestPaid |
Covenant terms required by credit facility |  | a leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges such as stock-based compensation). a coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense. a Department of Education Financial Responsibility Composite Score of not less than 1.5. |  |
Maximum total leverage ratio |  | 2 stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility |  |
Minimum coverage ratio |  | 1.75 stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility |  |
Minimum department of education financial composite score |  | 1.5 stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility |  |
Revolving Credit Facility [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Revolving credit facility, value |  |  |  | 100,000,000 us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity / us-gaap_DebtInstrumentAxis = us-gaap_RevolvingCreditFacilityMember
Option to increase commitments under credit facility |  |  |  | 50,000,000 stra_OptionToIncreaseCommitmentsUnderCreditFacility / us-gaap_DebtInstrumentAxis = us-gaap_RevolvingCreditFacilityMember
Revolving credit facility, outstanding |  |  |  | 0 us-gaap_LineOfCredit / us-gaap_DebtInstrumentAxis = us-gaap_RevolvingCreditFacilityMember
Revolving Credit Facility [Member] | Base Rate [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Debt instrument description of variable rate basis |  | Base rate |  |
Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Debt instrument description of variable rate basis |  | LIBOR |  |
Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Margin rate for interest if using base rate |  | 2.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_BaseRateMember |  |
Revolving Credit Facility [Member] | Maximum [Member] | Base Rate [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Margin rate for interest if using base rate |  | 2.50%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_BaseRateMember |  |
Revolving Credit Facility [Member] | Letter of Credit [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Option to increase commitments under credit facility |  |  |  | 50,000,000 stra_OptionToIncreaseCommitmentsUnderCreditFacility / us-gaap_DebtInstrumentAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_LineOfCreditFacilityAxis = us-gaap_LetterOfCreditMember
Term Loan Facility [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Revolving credit facility, value |  |  |  | 125,000,000 us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity / us-gaap_DebtInstrumentAxis = stra_TermLoanFacilityMember
Debt |  | $ 117,200,000 us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = stra_TermLoanFacilityMember |  |
Term Loan Facility [Member] | Interest Rate Swap [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Interest rate swap, fixed rate minimum |  | 2.85%us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMinimum / us-gaap_DebtInstrumentAxis = stra_TermLoanFacilityMember / us-gaap_DerivativeInstrumentRiskAxis = us-gaap_InterestRateSwapMember |  |
Interest rate swap, fixed rate maximum |  | 3.35%us-gaap_DebtInstrumentInterestRateEffectivePercentageRateRangeMaximum / us-gaap_DebtInstrumentAxis = stra_TermLoanFacilityMember / us-gaap_DerivativeInstrumentRiskAxis = us-gaap_InterestRateSwapMember |  |
Term Loan Facility [Member] | Minimum [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Unused commitment fee |  | 0.30%us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage / us-gaap_DebtInstrumentAxis = stra_TermLoanFacilityMember / us-gaap_RangeAxis = us-gaap_MinimumMember |  |
Term Loan Facility [Member] | Maximum [Member] |  |  |  |
Term Loan and Revolving Credit Facility (Textual) |  |  |  |
Unused commitment fee |  | 0.40%us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage / us-gaap_DebtInstrumentAxis = stra_TermLoanFacilityMember / us-gaap_RangeAxis = us-gaap_MaximumMember |  |

X
- Definition Maximum leverage ratio to be maintained under credit facility. + References No definition available. + Details
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Balance Type: | na
Period Type: | instant

X
- Definition Minimum coverage ratio to be maintained under credit facility. + References No definition available. + Details
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Namespace Prefix: | stra_
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X
- Definition Minimum department of education financial composite score to be maintained under credit facility. + References No definition available. + Details
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X
- Definition The additional amount by which the Company can increase its commitments under the Credit Facility, subject to obtaining additional loan commitments and the satisfaction of certain conditions. + References No definition available. + Details
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Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The percentage of the aggregate original principal amount of the term loan facility that is paid quarterly in year one and two. + References No definition available. + Details
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X
- Definition The percentage of the aggregate original principal amount of the term loan facility that is paid quarterly in year three and four. + References No definition available. + Details
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- Details
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- Definition Term Loan Facility, Quarterly Amortization Payments, year four. + References No definition available. + Details
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X
- Definition Term Loan Facility, Quarterly Amortization Payments, year one. + References No definition available. + Details
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X
- Definition Term Loan Facility, Quarterly Amortization Payments, year three. + References No definition available. + Details
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X
- Definition Term Loan Facility, Quarterly Amortization Payments, year two. + References No definition available. + Details
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X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
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X
- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. + References No definition available. + Details
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- Definition When presenting a range of interest rates, the highest effective rate for funds borrowed under the debt agreement as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition When presenting a range of interest rates, the lowest effective rate for funds borrowed under the debt agreement as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition The amount of cash paid for interest during the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585 + Details
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Balance Type: | credit
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
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Balance Type: | credit
Period Type: | instant

X
- Definition Description of the conditions for borrowing under the credit facility including the nature of any restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Date the credit facility terminates, in CCYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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Balance Type: | credit
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- Definition The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. + References No definition available. + Details
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- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 22 -Article 5 + Details
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