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Stock Options, Restricted Stock and Restricted Stock Units (Tables)
 6 Months Ended
Jun. 30, 2015
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, 2014  524,216  $115.67 
Grants  126,655  $61.00 
Vested shares  (13,725) $52.94 
Forfeitures  (1,731) $115.55 
Balance, June 30, 2015  635,415  $104.64 
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, 2014  100,000  $51.95   6.0  $2,233 
Grants  —   —       
Exercises  —   —       
Forfeitures/Expirations  —   —       
Balance, June 30, 2015  100,000  $51.95   5.5  $— 
Exercisable, June 30, 2015  100,000  $51.95   5.5  $— 

 

 

(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 June 30,		  For the six months 
ended June 30,		 
  2014  2015  2014  2015 
Instruction and educational support $475  $546  $909  $914 
Marketing  —   —   —   — 
Admissions advisory  —   —   —   — 
General and administration  2,071   1,926   3,598   4,009 
Stock-based compensation expense included in operating expense  2,546   2,472   4,507   4,923 
Tax benefit  1,013   986   1,794   1,942 
Stock-based compensation expense, net of income tax $1,533  $1,486  $2,713  $2,981