<SEC-DOCUMENT>0001213900-15-008082.txt : 20151030
<SEC-HEADER>0001213900-15-008082.hdr.sgml : 20151030
<ACCEPTANCE-DATETIME>20151030161145
ACCESSION NUMBER:		0001213900-15-008082
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20150930
FILED AS OF DATE:		20151030
DATE AS OF CHANGE:		20151030

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STRAYER EDUCATION INC
		CENTRAL INDEX KEY:			0001013934
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		IRS NUMBER:				521975978
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21039
		FILM NUMBER:		151187626

	BUSINESS ADDRESS:	
		STREET 1:		2303 DULLES STATION BOULEVARD
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
		BUSINESS PHONE:		703-561-1600

	MAIL ADDRESS:	
		STREET 1:		2303 DULLES STATION BOULEVARD
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>f10q0915_strayereducation.htm
<DESCRIPTION>QUARTERLY REPORT
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, DC 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 10-Q</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Quarterly Report Pursuant to Section&nbsp;13
or 15 (d)&nbsp;of the</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the quarterly period ended
September 30, 2015</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Commission File No.&nbsp;0-21039</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Strayer Education, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Exact name of registrant as specified in
this charter)</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><B>Maryland</B></TD>
    <TD STYLE="width: 2%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 49%; font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><B>52-1975978</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>incorporation or organization)</B></P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Identification No.)</B></P></TD></TR>
<TR>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2303 Dulles Station Boulevard</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Herndon, VA</B></P></TD>
    <TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><B>20171</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><B>(Address of principal executive offices)</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><B>(Zip Code)</B></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registrant&rsquo;s telephone number, including
area code: (703) 561-1600</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Indicate by check mark whether the registrant
(1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d)&nbsp;of the Securities Exchange Act of 1934 during
the preceding 12&nbsp;months (or for such shorter period that the registrant was required to file such reports), and (2)&nbsp;has
been subject to such filing requirements for the past 90&nbsp;days.&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;</B><FONT STYLE="font-family: Wingdings">
x</FONT><B> &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</B><FONT STYLE="font-family: Wingdings"> &uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (&sect;232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;</B><FONT STYLE="font-family: Wingdings">
x</FONT><B> &nbsp;&nbsp;&nbsp;&nbsp;No&nbsp;</B><FONT STYLE="font-family: Wingdings"> &uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of
&ldquo;large accelerated filer&rdquo;, &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act. (check one)</B></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 20%">Large&nbsp;accelerated&nbsp;filer</TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 20%">Accelerated&nbsp;filer</TD>
    <TD STYLE="width: 10%"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>Non-accelerated filer</TD>
    <TD><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD>(Do not check if a smaller reporting company)</TD>
    <TD>Smaller&nbsp;reporting&nbsp;company</TD>
    <TD><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Indicate by check mark whether the registrant
is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes&nbsp;</B><FONT STYLE="font-family: Wingdings">
&uml;</FONT>&nbsp;&nbsp;&nbsp;<B>No&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>As of October 15, 2015, there were outstanding
11,027,177 shares of Common Stock, par value $0.01 per share, of the Registrant.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>STRAYER EDUCATION, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 10-Q</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">PART I &mdash; FINANCIAL INFORMATION</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;1. Financial Statements</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left; text-indent: -19.8pt; padding-left: 1.1in">Unaudited Condensed Consolidated Balance Sheets at December&nbsp;31, 2014 and September 30, 2015</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: center">3</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 1.1in">Unaudited Condensed Consolidated Statements of Income for the three and nine months ended <BR>September&nbsp;30, 2014 and 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 1.1in">Unaudited Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September&nbsp;30, 2014 and 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 1.1in">Unaudited Condensed Consolidated Statements of Stockholders&rsquo; Equity for the nine months ended September&nbsp;30, 2014 and 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">5</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 1.1in">Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended <BR>September&nbsp;30, 2014 and 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 1.1in">Notes to Unaudited Condensed Consolidated Financial Statements</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">7</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;2. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">19</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;3. Quantitative and Qualitative Disclosures About Market Risk</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">25</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;4. Controls and Procedures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">25</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">PART II &mdash; OTHER INFORMATION</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;1. Legal Proceedings</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;1A. Risk Factors</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;2. Unregistered Sales of Equity Securities and Use of Proceeds</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;3. Defaults Upon Senior Securities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item 4. Mine Safety Disclosures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;5. Other Information</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -19.8pt; padding-left: 49.5pt">Item&nbsp;6. Exhibits</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">26</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>SIGNATURES</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">27</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>CERTIFICATIONS</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>STRAYER EDUCATION, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(in thousands, except share and per share
data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">December&nbsp;31,
    <BR>2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">September&nbsp;30,
    <BR>2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>ASSETS</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Current assets:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10pt; text-align: left; text-indent: 0; width: 76%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash
    and cash equivalents</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">162,283</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86,917</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding: 0 0 0 10pt; text-align: left; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tuition
    receivable, net</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16,942</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17,064</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0 0 0 10pt; text-align: left; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other
    current assets</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17,426</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15,745</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    current assets</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">196,651</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">119,726</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Property
    and equipment, net</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">82,266</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">78,589</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deferred
    income taxes</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16,241</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19,471</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Goodwill</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,800</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,800</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other
    assets</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,857</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,687</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    assets</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">307,815</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">230,273</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD COLSPAN="9" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>LIABILITIES&nbsp;&amp;
    STOCKHOLDERS&rsquo; EQUITY</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Current
    liabilities:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounts
    payable and accrued expenses</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">43,836</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44,459</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income
    taxes payable</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,286</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,054</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deferred
    revenue</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,682</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11,741</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other
    current liabilities</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">281</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">281</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 10pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Current
    portion of term loan</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,250</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    current liabilities</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">56,335</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">57,535</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Term
    loan, less current portion</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">112,500</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other
    long-term liabilities</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">46,248</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45,561</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    liabilities</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">215,083</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">103,096</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Commitments
    and contingencies</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stockholders&rsquo;
    equity:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Common
    stock, par value $0.01; 20,000,000 shares authorized; 10,903,341 and 11,028,265 shares issued and outstanding at December&nbsp;31,
    2014 and September&nbsp;30, 2015, respectively</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">109</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">110</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additional
    paid-in capital</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14,550</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">22,100</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Retained
    earnings</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">77,985</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">104,967</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: -10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accumulated
    other comprehensive income</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">88</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0 0 0 20pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    stockholders&rsquo; equity</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">92,732</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">127,177</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding: 0 0 0 30pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    liabilities and stockholders&rsquo; equity</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">307,815</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">230,273</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">The accompanying notes
are an integral part of these condensed consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt"></P></DIV>
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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>STRAYER EDUCATION,
INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF INCOME</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><B>(in thousands, except per share data)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the three months</FONT><BR><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ended<BR>
September&nbsp;30,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
the nine months<BR>
ended<BR>
September&nbsp;30,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-size: 10pt; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Revenues</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">100,756</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">99,142</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">329,971</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">320,777</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Costs
    and expenses:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Instruction and educational
    support</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,927</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,281</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">174,839</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">174,223</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Marketing</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20,514</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21,593</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">50,188</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">52,944</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Admissions advisory</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,071</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,089</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12,623</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12,144</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">General and administration</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11,028</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,925</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33,198</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33,424</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -79.2pt; padding-left: 79.2pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Total
    costs and expenses</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">91,540</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">91,888</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">270,848</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">272,735</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income from operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9,216</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,254</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">59,123</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">48,042</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Investment
    income</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">42</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">45</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">222</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interest
    expense</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,311</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,144</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,945</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,689</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income before income
    taxes</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,947</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6,154</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,223</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">44,575</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Provision
    for income taxes</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,994</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,431</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21,810</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17,593</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4,953</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,723</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33,413</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26,982</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Earnings
    per share:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Basic</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.47</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.35</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.17</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.55</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Diluted</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.46</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0.35</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.15</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.52</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -19.8pt; padding-left: 19.8pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Weighted
    average shares outstanding:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Basic</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,571</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,593</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,555</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,586</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Diluted</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,663</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,736</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,622</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,726</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>STRAYER
EDUCATION, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>INCOME</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(in
thousands)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">For the three months<BR>
ended<BR>
September&nbsp;30,</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">For the nine months<BR>
ended<BR>
September&nbsp;30,</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2014</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2015</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2014</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2015</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">Net income</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">4,953</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">3,723</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">33,413</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">26,982</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">Other comprehensive income:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 20pt">Change in fair value of derivative instrument, net of income tax</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">251</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">145</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">156</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(88</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 4pt">Comprehensive income</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">5,204</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">3,868</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">33,569</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">26,894</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>STRAYER
EDUCATION, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS&rsquo;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>EQUITY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(in
thousands, except share data)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Additional <BR>Paid-in</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Retained</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Accumulated <BR>Other <BR>Comprehensive</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Par Value</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Capital</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Earnings</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Income (Loss)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Total</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Balance at December&nbsp;31,
    2013</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">10,797,464</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">108</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">7,137</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">31,629</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">28</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">38,902</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Tax shortfall associated
    with stock-based compensation arrangements</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1,811</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1,811</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Restricted stock grants,
    net of forfeitures and conversions</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">105,877</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Stock-based compensation</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,058</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,058</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Change in fair value of
    derivative instrument, net of income tax</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">156</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">156</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Net
    income</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">33,413</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">33,413</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Balance at September
    30, 2014</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">10,903,341</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">109</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">12,383</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">65,042</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">184</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">77,718</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Additional <BR>Paid-in</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Retained</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Accumulated <BR>Other <BR>Comprehensive</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Par Value</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Capital</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Earnings</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Income (Loss)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Total</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 28%; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Balance at December&nbsp;31,
    2014</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">10,903,341</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">109</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">14,550</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">77,985</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">88</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">92,732</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Tax shortfall associated
    with stock-based compensation arrangements</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(25</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(25</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Restricted stock grants,
    net of forfeitures and conversions</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">124,924</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Stock-based compensation</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,576</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,576</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Change in fair value of
    derivative instrument, net of income tax</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(88</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(88</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Net
    income</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">26,982</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">26,9</FONT>82</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Balance at September
    30, 2015</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">11,028,265</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">110</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">22,100</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">104,967</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">127,177</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>STRAYER
EDUCATION, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>UNAUDITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(in thousands)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">For
    the nine months<BR>
    ended <BR>September 30,</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash flows from operating activities:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt; width: 76%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net income</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">33,413</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">26,982</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Adjustments to reconcile
    net income to net cash provided by operating activities:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amortization of gain
    on sale of assets</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(210</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(210</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amortization of deferred
    rent</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(754</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(417</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Amortization of deferred
    financing costs</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">585</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,163</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Depreciation and amortization</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15,782</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13,711</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deferred income taxes</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(514</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(3,358</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stock-based compensation</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,058</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7,576</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Changes in assets
    and liabilities:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tuition receivable,
    net</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,813</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(435</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other current assets</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(739</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,402</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other assets</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">147</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Accounts payable and
    accrued expenses</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10,215</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,023</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Income taxes payable
    and income taxes receivable</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(27</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">205</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Deferred revenue</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,108</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,126</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 30pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other long-term liabilities</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(12,764</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(1,949</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 40pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net
    cash provided by operating activities</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">62,113</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">53,821</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash flows from investing
    activities:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Purchases of property
    and equipment</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4,058</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9,587</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 40pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net
    cash used in investing activities</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(4,058</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(9,587</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash flows from financing
    activities:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Payments on term loan</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2,344</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(118,750</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Payment of deferred
    financing costs</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(850</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 40pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net
    cash used in financing activities</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(2,344</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(119,600</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 40pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Net
    increase (decrease) in cash and cash equivalents</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">55,711</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(75,366</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash
    and cash equivalents &ndash; beginning of period</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">94,760</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">162,283</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Cash
    and cash equivalents &ndash; end of period</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">150,471</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">86,917</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-indent: -39.6pt; padding-left: 39.6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Non-cash
    transactions:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 10pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Purchases of property
    and equipment included in accounts payable</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">583</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">633</FONT></TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">The
accompanying notes are an integral part of these condensed consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>STRAYER
EDUCATION, INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: center"><B>NOTES TO UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(UNAUDITED)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>1.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Nature of Operations</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Strayer Education,
Inc. (the &ldquo;Company&rdquo;), a Maryland corporation, conducts its operations through its wholly owned subsidiary, Strayer
University (the &ldquo;University&rdquo;). The University is an accredited institution of higher education that provides undergraduate
and graduate degrees in various fields of study through physical campuses, predominantly located in the eastern United States,
and online. With the Company&rsquo;s focus on the student, regardless of whether he or she chooses to take classes at a physical
campus or online, it has only one reporting segment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>2.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Significant Accounting
    Policies</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Financial
Statement Presentation</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The consolidated
financial statements include the accounts of the Company and its only subsidiary, the University. All intercompany accounts and
transactions have been eliminated in the consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All information as of December&nbsp;31, 2014
and September&nbsp;30, 2014 and 2015, and for the three and nine months ended September 30, 2014 and 2015 is unaudited but, in
the opinion of management, contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly
the condensed consolidated financial position, results of operations, and cash flows of the Company. Certain information and footnote
disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have
been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the
consolidated financial statements and notes thereto included in the Company&rsquo;s Annual Report on Form 10-K for the fiscal
year ended December&nbsp;31, 2014. The results of operations for the three and nine months ended September 30, 2015 are not necessarily
indicative of the results to be expected for the full fiscal year.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Revenue Recognition</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company&rsquo;s
educational programs are offered on a quarterly basis and such periods coincide with the Company&rsquo;s quarterly financial reporting
periods. Approximately 96% of the Company&rsquo;s revenues during the nine months ended September 30, 2015 consisted of tuition
revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student
basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and
employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal
Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information
and changes in the facts and circumstances relevant to a student&rsquo;s ability to pay, including the timing of a student&rsquo;s
withdrawal from a program of study.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">At the start
of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable
is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded
as deferred revenue. The estimated value of scholarship awards which will be realized in the future is deducted from revenue when
earned, and is based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term
liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related
income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company&rsquo;s
refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that
course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&rsquo;s
academic terms coincide with its financial reporting periods, all refunds are processed and recorded within the same quarter as
the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&rsquo;s state of
residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class;
however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Graduation
Fund</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In the third
quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that
are redeemable in the final year of a student&rsquo;s course of study if he or she successfully remains in the program. New students
registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent
terms qualify for the Graduation Fund. Students must meet all of the University&rsquo;s admission requirements and not be eligible
for any previously offered scholarship program. The Company&rsquo;s employees and their dependents are not eligible for the program.
To maintain eligibility, students must be enrolled in an undergraduate degree program and students become ineligible to participate
in the Graduation Fund if they have more than one consecutive term of non-attendance. In their final academic year, qualifying
students will receive one free course for every three courses that were successfully completed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Revenue from
students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company
allocates the value of benefits estimated to be earned evenly to each of the underlying revenue transactions that result in progress
by the student toward earning the benefit. The Company&rsquo;s estimate of the benefits that will be earned in the future is based
on its historical experience of student persistence toward completion of a course of study within this program and similar programs.
Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments
to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $9.4 million and is
included in deferred revenue within total current liabilities in the unaudited condensed consolidated balance sheets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The table below
presents activity in the Graduation Fund for the nine months ended September 30, 2015 (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; font-size: 10pt">Balance at December 31, 2014</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">9,706</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -29.7pt; padding-left: 29.7pt">Revenue deferred</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,423</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -29.7pt; padding-left: 29.7pt">Benefit redeemed</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(3,974</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 4pt; text-indent: -19.8pt; padding-left: 29.7pt">Balance at September 30, 2015</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">18,155</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Restricted
Cash</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A significant portion of the Company&rsquo;s
revenues are funded by various federal and state government programs. The Company generally does not receive funds from these
programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students
who withdraw from the University during the academic term. At December 31, 2014 and September 30, 2015, the Company had approximately
$0.2 million and $0.7 million of these unpaid obligations, respectively, which are recorded as restricted cash and included in
other current assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">As part of commencing
operations in Pennsylvania in 2003, the Company was required to maintain a &ldquo;minimum protective endowment&rdquo; of at least
$0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state.
The Company holds these funds in an interest-bearing account which is included in other assets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Tuition Receivable
and Allowance for Doubtful Accounts</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of
the quarter (and academic term), tuition receivable represents amounts due from students for educational services already provided
and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables
are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&rsquo;s student
base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable,
net of estimated recoveries. These collection rates incorporate historical performance based on a student&rsquo;s current enrollment
status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration
of actual experience.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company&rsquo;s
tuition receivable and allowance for doubtful accounts were as follows (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2014</B></P></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>September 30,</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2015</B></P></TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-size: 10pt; text-align: left">Tuition receivable</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">25,777</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">26,840</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1.5pt">Allowance for doubtful accounts</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(8,835</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(9,776</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 4pt; padding-left: 9.9pt">Tuition receivable, net</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">16,942</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">17,064</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>&nbsp;&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Additionally,
approximately $1.6 million and $1.9 million of tuition receivable is included in other assets as of December 31, 2014 and September
30, 2015, respectively, because these amounts are expected to be collected after 12 months.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The following
table illustrates changes in the Company&rsquo;s allowance for doubtful accounts for the quarters ended (in thousands):</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">For the three months <BR>ended September 30,</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1.5pt solid">For the nine months <BR>ended September 30,</TD><TD STYLE="padding-bottom: 1.5pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2014</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2015</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2014</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1.5pt solid">2015</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">Allowance for doubtful accounts, beginning of period</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">9,144</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">8,733</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">10,303</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 9%; font-size: 10pt; text-align: right">8,835</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt">Additions charged to expense</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,652</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,293</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,255</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9,315</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt">Write-offs, net of recoveries</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(4,228</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(1,250</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(13,990</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right">(8,374</TD><TD STYLE="padding-bottom: 1.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -40.5pt; padding-left: 49.5pt">Allowance for doubtful accounts, end of period</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">8,568</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">9,776</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">8,568</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">9,776</TD><TD STYLE="padding-bottom: 4pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Fair Value</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Fair Value
Measurement Topic, ASC 820-10 (&ldquo;ASC 820-10&rdquo;), establishes a framework for measuring fair value, establishes a fair
value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements.
Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is
significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to
sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement
date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market
and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; padding: 0; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Level 1 assets or liabilities use
    quoted prices in active markets for identical assets or liabilities as of the measurement date;</FONT></td></tr>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Level 2 assets or liabilities use
    observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for
    identical or similar assets and liabilities; and</FONT></td></tr>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: left"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Level 3 assets or liabilities use
    unobservable inputs that are supported by little or no market activity.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company&rsquo;s
assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values
are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation
of fair value for certain assets or liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Goodwill
and Indefinite-Lived Intangible Assets</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Goodwill represents
the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed.
Indefinite-lived intangible assets, which include an acquired trade name,&nbsp;are recorded at fair market value on their acquisition
date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Goodwill and
the indefinite-lived intangible assets are assessed at least annually for impairment as of September 30 of each year, or more
frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value
of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08, <I>Intangibles-Goodwill
and Other (Topic 350): Testing Goodwill for Impairment</I>, the Company is permitted, but not required, to first assess qualitative
factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its
qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than
the carrying amount and, accordingly, no impairment existed at September 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Accounting
for Derivative Instruments and Hedging Activities</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On the date
that the Company enters into a derivative contract, it designates the derivative as a hedge of (a)&nbsp;a forecasted transaction
or (b)&nbsp;the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a
cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Changes in the
fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that
the hedge is effective, are recorded, net of income tax, in other comprehensive income, until earnings are affected by the variability
of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in
earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed
the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and
strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&rsquo;s inception and
on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes
in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future
periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues
hedge accounting prospectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Authorized
Stock</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
has authorized 20,000,000 shares of common stock, par value $0.01, of which 10,903,341 and 11,028,265 shares were issued and outstanding
as of December&nbsp;31, 2014 and September 30, 2015, respectively. The Company also has authorized 8,000,000 shares of preferred
stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board
of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as
to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Stock-Based
Compensation</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">As required
by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment
awards, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the
Company&rsquo;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the
unaudited condensed consolidated statements of income for the three and nine months ended September 30, 2014 and 2015 is based
on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to
estimate forfeitures at the time of grant and revise, if necessary, the estimate in subsequent periods if actual forfeitures differ
from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that
performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not
that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately
vest.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Net Income
Per Share</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Basic earnings
per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period.
Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised
stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury
stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&rsquo;s
common stock: (1)&nbsp;the proceeds received from the exercise of stock options, (2)&nbsp;the amount of compensation cost associated
with the stock awards for future service not yet recognized by the Company, and (3)&nbsp;the amount of tax benefits that would
be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not
included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds
the average market price for the period.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Set forth below
is a reconciliation of shares used to calculate basic and diluted earnings per share (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid">For&nbsp;the&nbsp;three&nbsp;months <BR>ended<BR> September 30,</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid">For&nbsp;the&nbsp;nine&nbsp;months <BR>ended<BR> September 30,</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2014</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2015</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2014</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid">2015</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-indent: -10pt; padding-left: 10pt">Weighted average shares outstanding used to compute basic earnings per share</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10,571</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10,593</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10,555</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; text-align: right">10,586</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt">Unvested restricted stock</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">92</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">143</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">67</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">140</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 4pt; text-indent: -10pt; padding-left: 20pt">Shares used to compute diluted earnings per share</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">10,663</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">10,736</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">10,622</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">10,726</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Income Taxes</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and
liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Income Taxes
Topic, ASC 740, requires the Company to determine whether uncertain tax positions should be recognized within the Company&rsquo;s
financial statements. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined
to be more likely than not to be sustained upon examination. The Company recognizes interest and penalties, if any, related to
uncertain tax positions in income tax expense. Upon determination, uncertain tax positions are measured to determine the amount
of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge
of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being
sustained.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The tax years
2011-2014 remain open to examination by various taxing jurisdictions in which the Company is subject.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt"><I>Use of Estimates</I>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The preparation
of financial statements in conformity with accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements
and the reported amounts of expenses during the period reported. The most significant management estimates include allowances
for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations,
potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance
criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill,
intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from
those estimates.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Recent Accounting
Pronouncements</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In May 2014,
the FASB issued ASU No. 2014-09, &ldquo;Revenue from Contracts with Customers (Topic 606)&rdquo; (&ldquo;ASU 2014-09&rdquo;).
The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of
goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods
or services. ASU 2014-09 was recently amended to defer the effective date to fiscal years beginning after December 15, 2017, and
early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition,
results of operations, and disclosures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In April 2015,
the FASB issued ASU No. 2015-03, &ldquo;Interest - Imputation of Interest (Subtopic 835-30)&rdquo; (&ldquo;ASU 2015-03&rdquo;).
The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as
a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for
financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective
basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial
condition, results of operations, and disclosures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>3.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Restructuring and
    Related Charges</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In October 2013,
the Company implemented a restructuring to better align the Company&rsquo;s resources with its current student enrollments.&nbsp;This
restructuring, which occurred primarily in the fourth quarter of 2013, included the closing of 20 physical locations and reductions
in the number of campus-based and corporate employees. The Company recorded approximately $36.0 million of aggregate charges representing
the estimated fair value of future contractual operating lease obligations, which were recorded in the periods the Company ceased
using the respective facilities. Lease obligations, some of which continue through 2022, are measured at fair value using a discounted
cash flow approach encompassing significant unobservable inputs (Level 3). The estimation of future cash flows includes non-cancelable
contractual lease costs over the remaining terms of the leases discounted at the Company&rsquo;s marginal borrowing rate of 4.5%,
partially offset by estimated future sublease rental income, which involves significant judgment. The Company&rsquo;s estimate
of the amount and timing of sublease rental income considers subleases that have been executed and subleases expected to be executed
based on current commercial real estate market data and conditions, and other qualitative factors specific to the facilities.
The estimates are subject to adjustment as market conditions change or as new information becomes available, including the execution
of additional sublease agreements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The following
details the changes in the Company&rsquo;s restructuring liability for lease and related costs during the nine months ended September
30, 2015 (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%"><FONT STYLE="font: 10pt Times New Roman,serif">Balance at December 31, 2014<SUP>(1)</SUP></FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 9%; text-align: right">27,283</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font: 10pt Times New Roman,serif">Non-cash adjustments<SUP>(2)</SUP></FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">265</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt">Payments</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(5,040</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 4pt; text-indent: -11pt; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman,serif">Balance at September 30, 2015<SUP>(1)</SUP></FONT></TD><TD STYLE="padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; text-align: right">22,508</TD><TD STYLE="padding-bottom: 4pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 5%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><SUP>(1)</SUP></FONT></td>
    <TD STYLE="width: 95%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">The current portion
    of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively,
    which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities
    in the unaudited condensed consolidated balance sheets. </FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><SUP>(2)</SUP></FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Non-cash adjustments for lease and
    related costs&nbsp;include accretion of interest on lease costs, partially offset by changes in the timing and expected income
    from sublease agreements signed during the period. </FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>4.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Fair Value Measurement</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Assets and liabilities
measured at fair value on a recurring basis consist of the following as of September 30, 2015 (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Fair&nbsp;Value&nbsp;Measurements&nbsp;at&nbsp;Reporting&nbsp;Date&nbsp;Using</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">September&nbsp;30, 2015</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Quoted&nbsp;Prices in Active Markets&nbsp;for Identical Assets/ Liabilities<BR> (Level&nbsp;1)</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Significant Other Observable Inputs<BR> (Level&nbsp;2)</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Significant Unobservable Inputs (Level&nbsp;3)</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">Assets:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-family: Times New Roman,serif">Cash equivalents:</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Money market funds</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">100</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">100</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 4pt; text-indent: -2pt; padding-left: 20pt">Total assets at fair value on a recurring basis</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">100</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">100</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif">Liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left">Other liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt">Deferred payments</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">3,032</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">3,032</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: left; padding-bottom: 4pt; text-indent: -2pt; padding-left: 20pt">Total liabilities at fair value on a recurring basis</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">3,032</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">3,032</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Assets and liabilities
measured at fair value on a recurring basis consist of the following as of December&nbsp;31, 2014 (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Fair&nbsp;Value&nbsp;Measurements&nbsp;at&nbsp;Reporting&nbsp;Date&nbsp;Using</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">December 31, 2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Quoted&nbsp;Prices
    in Active Markets&nbsp;for Identical Assets/ Liabilities<BR> (Level&nbsp;1)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Significant Other
    Observable Inputs<BR>
    (Level&nbsp;2)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Significant Unobservable
    Inputs<BR>
    (Level&nbsp;3)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Assets:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">Cash equivalents:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Money market funds</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">8,275</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">8,275</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Interest rate swap</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">143</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">143</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; padding-left: 20pt"><FONT STYLE="font-size: 10pt">Total assets at fair value
    on a recurring basis</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">8,418</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">8,275</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">143</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Liabilities:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Other liabilities:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Deferred payments</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,398</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,398</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; padding-left: 20pt"><FONT STYLE="font-size: 10pt">Total liabilities at fair
    value on a recurring basis</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">2,398</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">2,398</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
measures the above items on a recurring basis at fair value as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></td>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">Money market funds - The Company
    holds excess cash in both taxable and tax-exempt money market funds, which are classified in Level 1 and are included in cash
    and cash equivalents in the accompanying unaudited condensed consolidated balance sheets. The Company records any net unrealized
    gains and losses for changes in fair value as a component of accumulated other comprehensive income in stockholders&rsquo;
    equity. The Company&rsquo;s cash and cash equivalents not held in money market funds at December 31, 2014 and September 30,
    2015 approximate fair value and are not disclosed in the above tables because of the short-term nature of the financial instruments.</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Interest rate swap - The Company
    had an interest rate swap used to minimize the interest rate exposure and fix the variable interest rate on the Company&rsquo;s
    variable rate debt. The Company terminated the swap in July 2015 (see Note 5). The swap was classified within Level 2 and
    valued using readily available pricing sources which utilized market observable inputs including the current variable interest
    rate for similar types of instruments.</FONT></td></tr>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0; width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Deferred payments - The Company
    acquired certain assets and entered into a deferred payment arrangement with one of the sellers in connection with an acquisition
    completed in 2011, which is classified within Level 3 as there is no liquid market for similarly priced instruments. The deferred
    payment is valued using a discounted cash flow model that encompasses significant unobservable inputs to estimate the operating
    results of the acquired assets. The assumptions used to prepare the discounted cash flows include estimates for interest rates,
    enrollment growth, retention rates and pricing strategies. These assumptions are subject to change as the underlying data
    sources evolve and the program matures.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company&rsquo;s
lease loss liability incorporates an assessment of current sublease market conditions and uses Level 3 inputs, but is not deemed
a fair value liability as the future lease payments are required to be discounted using the Company&rsquo;s incremental borrowing
rate at the date of lease abandonment without subsequent adjustment. See Note 3 for further discussion of the Company&rsquo;s
lease loss liability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
did not change its valuation techniques associated with recurring fair value measurements from prior periods, and no assets or
liabilities were transferred between levels of the fair value hierarchy during the nine months ended September 30, 2014 or 2015.
Assets measured at fair value on a non-recurring basis are assessed for impairment annually at September 30, or more frequently
if circumstances indicate an impairment may have occurred. No such circumstances existed, and, as of December 31, 2014 and September
30, 2015, $6.8 million of goodwill and $1.6 million of other indefinite-lived intangible assets are included in other assets in
the Company&rsquo;s consolidated balance sheets.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Changes in the
fair value of the Company&rsquo;s Level 3 liability that was outstanding throughout the nine months ended September 30, 2015 are
as follows (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Deferred</B></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Payments</B></FONT></P></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">Balance at December&nbsp;31, 2014</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">2,398</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Amounts earned</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">(534</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Adjustments to fair value</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,168</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Transfers in or out of Level 3</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 4pt; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Balance at September 30, 2015</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">3,032</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>5.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Term Loan and Revolving
    Credit Facility</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On July 2, 2015,
the Company entered into an amended credit facility (the &ldquo;Amended Credit Facility&rdquo;) to replace its prior credit agreement
(the &ldquo;Prior Credit Agreement&rdquo;) which provides for a revolving line of credit (the &ldquo;Revolver&rdquo;) up to $150.0
million and provides the Company with an option, under certain conditions, to increase the commitments under the Revolver or establish
one or more incremental term loans in an amount up to $50 million in the aggregate in the future. The maturity date of the Amended
Credit Facility is July 2, 2020.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In addition,
the Amended Credit Facility provides that (i) borrowings under the Revolver will bear interest at a per annum rate equal to, at
the Company&rsquo;s election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (in lieu of the previous range from
2.00% to 2.50%), depending on the Company&rsquo;s leverage ratio, and (ii) the quarterly unused commitment fee shall be equal
to a percentage ranging from 0.25% to 0.35% per annum (in lieu of the previous range from 0.30% to 0.40% per annum) depending
on the Company&rsquo;s leverage ratio, times the daily unused amount under the Revolver.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Except for the
ch<FONT STYLE="font-family: Times New Roman, Times, Serif">anges included in the amendment, all other remaining terms of the Prior
Credit Agreement, including the requirements that the Company satisfy certain financial maintenance covenants, remain in full
force and effect. The Amended Credit Facility is guaranteed by the Company&rsquo;s subsidiary and is secured by substantially
all of the personal property and assets of the Company and the guarantor. The Amended Credit Facility contains customary affirmative
and negative covenants, representations, warranties, events of default and remedies upon default, including acceleration and rights
to foreclose on the collateral securing the Amended Credit Facility. In addition, the Amended Credit Facility requires that the
Company satisfy certain financial maintenance covenants, including:</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">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.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">a
                                         Department of Education Financial Responsibility Composite Score of not less than 1.5.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
Company was in compliance with all the terms of the Amended Credit Facility as of September 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">During
the three and nine months ended September 30, 2015, the Company paid cash interest of $0.1 million and $2.3 million, respectively,
compared to $1</FONT><FONT STYLE="font-size: 10pt">.1 million and $3.4 million during the three and nine months ended September
30, 2014, respectively. As of September 30, 2015, the Company had no balance outstanding under the Revolver.&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 397.8pt 0 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>6.</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Stock Options, Restricted
    Stock and Restricted Stock Units</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On May 5, 2015,
the Company&rsquo;s shareholders approved the Strayer Education, Inc. 2015 Equity Compensation Plan (the &ldquo;2015 Plan&rdquo;),
which replaces the Strayer Education, Inc. 2011 Equity Compensation Plan (the &ldquo;2011 Plan&rdquo;). The 2015 Plan provides
for the granting of restricted stock, restricted stock units, stock options intended to qualify as incentive stock options, options
that do not qualify as incentive stock options, and other forms of equity compensation and performance-based awards to employees,
officers and directors of the Company, or to a consultant or advisor to the Company, at the discretion of the Board of Directors.
Vesting provisions are at the discretion of the Board of Directors. Options may be granted at option prices based at or above
the fair market value of the shares at the date of grant. The maximum term of the awards granted under the 2015 Plan is ten years.
The number of shares of common stock reserved for issuance under the 2015 Plan is 500,000 authorized but unissued shares, plus
the number of shares available for grant under the 2011 Plan at the time of stockholder approval of the 2015 Plan, and plus the
number of shares which may in the future become available under the 2011 Plan due to forfeitures of outstanding awards.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In February
2015, the Company&rsquo;s Board of Directors approved grants of 71,991 shares of restricted stock to certain employees. These
shares, which vest 100% in February 2019, were granted pursuant to the 2011 Plan. The Company&rsquo;s stock price closed at $70.15
on the date of these restricted stock grants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In May 2015,
the Company&rsquo;s Board of Directors approved grants of 40,867 shares of restricted stock. These shares, which vest in their
entirety four years from the date of grant, were granted pursuant to the 2015 Plan. The Company&rsquo;s Board of Directors also
approved grants of 13,797 shares of restricted stock. These shares, which vest annually over a three-year period, were awarded
to non-employee members of the Company&rsquo;s Board of Directors, as part of the Company&rsquo;s annual director compensation
program and pursuant to the 2015 Plan. The Company&rsquo;s stock price closed at $48.94 on the date of these restricted stock
grants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Dividends
paid on unvested restricted stock are reimbursed to the Company if the recipient forfeits his or her shares as a result of termination
of employment prior to vesting in the award, unless waived by the Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Restricted
Stock and Restricted Stock Units</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The table below
sets forth the restricted stock and restricted stock units activity for the nine months ended September 30, 2015:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Number <BR> of&nbsp;shares <BR> or units</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Weighted- <BR> average<BR> grant <BR> price</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; font-family: Times New Roman,serif; text-align: justify">Balance, December 31, 2014</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">524,216</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">115.67</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify; padding-left: 0pt">Grants</TD><TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; text-align: right">126,655</TD><TD STYLE="font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman,serif; text-align: right">61.00</TD><TD STYLE="font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify; padding-left: 0pt">Vested shares</TD><TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; text-align: right">(13,725</TD><TD STYLE="font-family: Times New Roman,serif; text-align: left">)</TD><TD STYLE="font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="font-family: Times New Roman,serif; text-align: right">52.94</TD><TD STYLE="font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt">Forfeitures</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">(1,731</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">)</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; font-family: Times New Roman,serif; text-align: right">115.55</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-family: Times New Roman,serif; text-align: justify; padding-bottom: 4pt; text-indent: 9pt">Balance, September 30, 2015</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">635,415</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right">104.64</TD><TD STYLE="padding-bottom: 4pt; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 14; Value: 2 -->
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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0"><FONT STYLE="font-size: 10pt"><I>Stock Options</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The table below
sets forth the stock option activity and other stock option information as of and for the nine months ended September 30, 2015:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Number&nbsp;of
    <BR>shares</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Weighted-average
    exercise&nbsp;price</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Weighted-average
    remaining <BR>contractual <BR>life&nbsp;(years)</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Aggregate
                                         intrinsic</FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">value<SUP>(1)</SUP></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">(in&nbsp;thousands)</FONT></P></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: justify"><FONT STYLE="font-size: 10pt">Balance, December&nbsp;31, 2014</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">51.95</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">6.0</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">2,233</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Grants</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Exercises</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Forfeitures/Expirations</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Balance, September 30, 2015</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">51.95</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">5.3</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">302</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Exercisable, September 30, 2015</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">100,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">51.95</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5.3</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">302</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid; width: 25%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><SUP>(1)&nbsp;&nbsp;</SUP></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">The aggregate intrinsic
    value in the table above represents the total pre-tax intrinsic value (the difference between the Company&rsquo;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&rsquo;s common stock.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Valuation
and Expense Information under Stock Compensation Topic ASC 718</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">At September
30, 2015, total stock-based compensation cost which has not yet been recognized was $28.2 million for unvested restricted stock,
restricted stock units, and stock option awards. This cost is expected to be recognized over the next 35 months on a weighted-average
basis. Awards of approximately 467,000 shares of restricted stock and restricted stock units are subject to performance conditions.
The accrual for stock-based compensation for performance awards is based on the Company&rsquo;s estimates that such performance
criteria are probable of being achieved. Such a determination involves significant judgment surrounding the Company&rsquo;s ability
to maintain regulatory compliance. If the performance targets are not reached during the vesting period, or it is determined it
is more likely than not that the performance criteria will not be achieved, related compensation expense is adjusted. The following
table sets forth the amount of stock-based compensation expense recorded in each of the expense line items (in thousands):&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">For&nbsp;the&nbsp;three&nbsp;months
    <BR>ended<BR>
    September 30,</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">For&nbsp;the&nbsp;nine&nbsp;months
    <BR>ended<BR>
    September 30,</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 52%; text-align: left"><FONT STYLE="font-size: 10pt">Instruction and educational support</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">406</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">619</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">1,314</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">1,532</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">Marketing</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">Admissions advisory</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&mdash;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">General and administration</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,145</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,034</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">5,744</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">6,044</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 20pt; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Stock-based compensation
    expense included in operating expense</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,551</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,653</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,058</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">7,576</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Tax benefit</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,015</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">1,048</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,809</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">2,990</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 4pt; padding-left: 10pt"><FONT STYLE="font-size: 10pt">Stock-based compensation
    expense, net of income tax</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">1,536</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">1,605</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">4,249</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">4,586</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">During the nine
months ended September 30, 2014 and 2015, the Company recognized a tax shortfall related to share-based payment arrangements of
$1.8 million and $25,000, respectively. No stock options were exercised during the nine months ended September 30, 2014 or 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>7.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Other Long-Term Liabilities</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Other long-term
liabilities consist of the following (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">December&nbsp;31,
    2014</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">September&nbsp;30,
    &nbsp;2015</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: justify"><FONT STYLE="font-size: 10pt">Loss on facilities not in use</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">21,280</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">17,414</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Deferred revenue, net of current portion</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">9,654</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">10,721</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Deferred rent and other facility costs</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,646</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">8,713</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Deferred payments related to acquisition</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,198</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">5,832</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Lease incentives</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">1,056</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">2,678</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Deferred gain on sale of campus building</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">414</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-size: 10pt">203</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">46,248</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-size: 10pt">45,561</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Loss on Facilities
Not in Use and Deferred Rent and Other Facility Costs</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
records a liability for lease costs of campuses and non-campus facilities that are not currently in use (see Note 3). For facilities
still in use, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between
the rent payment and the straight-line rent expense is recorded as a liability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Deferred
Revenue</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
provides for certain scholarship and awards programs, such as the Graduation Fund (see Note 2 for additional information), that
are earned by students when they successfully complete course requirements. The Company also has licensed certain of its non-credit
bearing course content to a third party. Included in long-term deferred revenue is the amount of revenue under these arrangements
that the Company expects will be realized after one year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><I>Deferred Payments Related to Acquisition</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
acquired certain assets and entered into deferred payment arrangements with one of the sellers in connection with an acquisition
completed in 2011. The deferred payment arrangements are valued at approximately $2.4 million and $3.0 million as of December
31, 2014 and September 30, 2015, respectively. In addition, one of the sellers contributed $2.8 million to the Company representing
the seller&rsquo;s continuing interest in the assets acquired.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Lease Incentives</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In conjunction
with the opening of new campuses or renovating existing ones, the Company, in some instances, was reimbursed by the lessors for
improvements made to the leased properties. In accordance with ASC 840-20, the underlying assets were capitalized as leasehold
improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized
on a straight-line basis over the corresponding lease terms, which generally range from five to 10 years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Deferred
Gain on Sale of Campus Building</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In June 2007,
the Company sold one of its campus buildings for $5.8 million. The Company is leasing back most of the campus building over a
10-year period. In conjunction with this sale and lease back transaction, the Company realized a gain of $2.8 million before tax,
which is deferred and recognized over the 10-year lease term.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>8.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Income Taxes</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had $2.6 million of unrecognized
tax benefits at September 30, 2015, all of which resulted from tax positions taken prior to the year ended December 31, 2014.
As of September 30, 2015, the Company had a liability of $0.5 million for uncertain tax positions taken during the year ended
December 31, 2013. The Company also recognized approximately $0.3 million of benefits in the nine months ended September 30, 2015.
The Company also recorded approximately $0.1 million of expense in the nine months ended September 30, 2015, related to interest
and penalties.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">It is reasonably possible that approximately
$0.3 million of unrecognized tax benefits will be reduced in the next twelve months due to expiration of the applicable statutes
of limitations. The Company does not anticipate significant changes to other unrecognized tax benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of September 30, 2015, approximately $0.4
million of the Company&rsquo;s total unrecognized tax benefits would favorably affect the Company&rsquo;s effective tax rate if
recognized. If amounts accrued are less than amounts ultimately assessed by taxing authorities, the Company would record additional
income tax expense.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>9.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Litigation </B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">From time to
time, the Company is involved in litigation and other legal proceedings arising out of the ordinary course of its business. There
are no pending material legal proceedings to which the Company or its property are subject.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 4%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>10.&nbsp;</B></FONT></td>
    <TD STYLE="width: 96%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Regulation </B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The Company
and the University are subject to significant federal, state and regulatory oversight. The U.S. Department of Education (the &ldquo;Department&rdquo;)
previously attempted to define &ldquo;an eligible program of training to prepare students for gainful employment in a recognized
occupation.&rdquo; After a federal court invalidated the Department&rsquo;s regulation, the Department established a negotiated
rulemaking committee to consider the issue of gainful employment. The negotiations did not result in the required consensus. On
March 25, 2014, the Department issued a Notice of Proposed Rulemaking for public comment, and on October 31, 2014, the Department
published the final regulation which became effective on July 1, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
new requirements include two debt-to-earnings measures, consisting of an annual earnings rate and a discretionary income rate.
The annual earnings rate measures student debt payments in relation to earnings, and the discretionary income rate measures student
debt payments in relation to discretionary income. Under the new gainful employment regulation, a program would pass if the program&rsquo;s
graduates:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">have
                                         an annual earnings rate that does not exceed 8%; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">have
                                         a discretionary income rate that does not exceed 20%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">In
addition, a program that does not pass either of the debt-to-earnings metrics, and that has an annual earnings rate between 8%
and 12%, or a discretionary income rate between 20% and 30%, would be considered to be in a warning zone. A program would fail
if the program&rsquo;s graduates have an annual earnings rate of 12% or greater and a discretionary income rate of 30% or greater.
A program would become Title IV-ineligible for three years if it fails both metrics for two out of three consecutive years, or
fails to pass at least one metric for four consecutive award years.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
an institution is notified by the Secretary of Education that a program could become ineligible, based on its final rates, for
the next award year:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
                                         institution must provide a warning with respect to the program to students and prospective
                                         students indicating, among other things, that students may not be able to use Title IV
                                         funds to attend or continue in the program; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in; padding: 0; text-indent: 0"></TD><TD STYLE="width: 0.25in; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
                                         institution must not enroll, register or enter into a financial commitment with a prospective
                                         student until a specified time after providing the warning to the prospective student.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
new regulation also requires institutions to report student and program level data to the Department, and comply with additional
disclosure requirements, beginning in January 2017.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The University timely submitted the required
reporting in July and September 2015. On October 9, 2015, the Department of Education notified the University that it was not
in full compliance with reporting requirements for gainful employment programs and thus no decisions on new programs or locations
will be issued. Although the University had timely reported all information for gainful employment programs, the Department did
not recognize the submissions as complete due to erroneous academic program codes in the Common Origination and Disbursement system.
The University has remediated the errors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In addition,
the gainful employment regulation requires institutions to certify by December 31, 2015, among other things, that each eligible
gainful employment program is programmatically accredited if required by a federal governmental entity or a state governmental
entity in the state in which it is located or is otherwise required to obtain state approval. The institution must also certify
that each eligible program satisfies the applicable educational prerequisites for professional licensure or certification requirements
in each state in which it is located or is otherwise required to obtain state approval, so that a student who completes the program
and seeks employment in that state qualifies to take any licensure or certification exam that is needed for the student to practice
or find employment in an occupation that the program prepares students to enter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The requirements
associated with the gainful employment regulations will substantially increase the Company&rsquo;s administrative burdens and
could affect the University&rsquo;s student enrollment, persistence and retention. Further, although the regulations provide opportunities
for an institution to correct any potential deficiencies in a program prior to the loss of Title IV eligibility, the continuing
eligibility of the University&rsquo;s academic programs will be affected by factors beyond management&rsquo;s control such as
changes in graduates&rsquo; income levels, changes in student borrowing levels, increases in interest rates, changes in the percentage
of former students who are current in the repayment of their student loans, and various other factors. Even if the Company were
able to correct any deficiency in the gainful employment metrics in a timely manner, the disclosure requirements associated with
a program&rsquo;s failure to pass at least one metric may adversely affect student enrollments in that program and may adversely
affect the reputation of the University.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In November
2014, two organizations filed separate lawsuits against the Department in federal courts seeking to have the new regulation invalidated.
Both suits alleged that the Department exceeded its statutory authority in promulgating the regulation, that the regulation violates
the institutions&rsquo; constitutional rights, and that the regulation is arbitrary and capricious. In both cases, the courts
dismissed the lawsuits, upholding the regulation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The University
must comply with the campus safety and security reporting requirements as well as other requirements in the Jeanne Clery Disclosure
of Campus Security Policy and Campus Crime Statistics Act, or Clery Act, including recent changes made to the Clery Act by the
Violence Against Women Reauthorization Act of 2013, and the Department subsequently promulgated regulations implementing the recent
amendments to the Clery Act. In addition, the Department has interpreted Title IX of the Education Amendments of 1972, or Title
IX, to categorize sexual violence as a form of prohibited sex discrimination and to require institutions to follow certain disciplinary
procedures with respect to such offenses. Failure to comply with the Clery Act or Title IX requirements or regulations thereunder
could result in action by the Department to require corrective action, fine the Company or limit or suspend its participation
in Title IV programs, could lead to litigation, and could harm the Company&rsquo;s reputation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The University
is subject to announced and unannounced compliance reviews and audits by various external agencies, including the Department,
its Office of Inspector General, state licensing agencies, and accrediting agencies. The Department conducted four campus-based
program reviews of University campuses in three states and the District of Columbia during the third quarter of 2014, and two
of the reviews also covered compliance with the Clery Act, the Drug-Free Schools and Communities Act, and regulations related
thereto. The Department issued an Expedited Final Program Review Determination Letter for one of the program reviews, closing
the program review with no further action required by the Company. The Company received a Program Review Report for another program
review and provided a response to the Department, following which the Company received a Final Program Review Determination letter,
closing the review with no further action required by the Company. On March 24, 2015, the Company received a Program Review Report
for another program review, and provided a response to the Department on April 21, 2015. On April 29, 2015, the Company received
a Final Program Review Determination Letter closing the review and identifying a payment of less than $500 due to the Department
of Education based on an underpayment on a return to Title IV calculation. The Company remitted payment, and received a letter
from the Department on May 26, 2015, indicating that no further action was required and that the matter was closed. On September
15, 2015, the Company received a Program Review report for the final program review, and provided a response to the Department
on October 5, 2015. The Company has yet to receive a Final Program Review Determination letter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Each institution
participating in Title IV programs must enter into a Program Participation Agreement with the Department. Under the agreement,
the institution agrees to follow the Department&rsquo;s rules and regulations governing Title IV programs. On October 1, 2014,
the University received an executed provisional Program Participation Agreement from the Department allowing it to participate
in Title IV programs until June 30, 2017. The Program Participation Agreement was issued on a provisional basis because of the
Department&rsquo;s open program reviews. Under the provisional agreement, the only material additional condition with which the
University must comply is obtaining Department approval for substantial changes, including the addition of any new location, level
of academic offering, non-degree program, or degree program.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>ITEM&nbsp;2:&nbsp;&nbsp;&nbsp;MANAGEMENT&rsquo;S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Cautionary
Notice Regarding Forward-Looking Statements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Certain of
the statements included in this &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
as well as elsewhere in this report on Form&nbsp;10-Q are forward-looking statements made pursuant to the Private Securities Litigation
Reform Act of 1995 (&ldquo;Reform Act&rdquo;). Such statements may be identified by the use of words such as &ldquo;expect,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;assume,&rdquo; &ldquo;believe,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;will,&rdquo; &ldquo;forecast,&rdquo;
&ldquo;plan,&rdquo; &ldquo;project,&rdquo; or similar words, and include, without limitation, statements relating to future enrollment,
revenues, revenues per student, earnings growth, operating expenses and capital expenditures. These statements are based on the
Company&rsquo;s current expectations and are subject to a number of assumptions, risks and uncertainties. In accordance with the
Safe Harbor provisions of the Reform Act, the Company has identified important factors that could cause the actual results to
differ materially from those expressed in or implied by such statements. The assumptions, risks and uncertainties include the
pace of growth of student enrollment, our continued compliance with Title IV of the Higher Education Act, and the regulations
thereunder, as well as regional accreditation standards and state regulatory requirements, rulemaking by the Department of Education
and increased focus by the U. S. Congress on for-profit education institutions, competitive factors, risks associated with the
opening of new campuses, risks associated with the offering of new educational programs and adapting to other changes, risks associated
with the acquisition of existing educational institutions, risks relating to the timing of regulatory approvals, our ability to
implement our growth strategy, risks associated with the ability of our students to finance their education in a timely manner,
and general economic and market conditions. Further information about these and other relevant risks and uncertainties may be
found in the Company&rsquo;s Annual Report on Form&nbsp;10-K and its other filings with the Securities and Exchange Commission.
The Company undertakes no obligation to update or revise forward-looking statements, except as may be required by law.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Additional
Information</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>We maintain
a website at http://www.strayereducation.com. The information on our website is not incorporated by reference in this Quarterly
Report on Form 10-Q, and our web address is included as an inactive textual reference only. We make available, free of charge
through our website, our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and amendments
to those reports filed or furnished pursuant to Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934 as soon as
reasonably practicable after we electronically file such material with, or furnish it to, the Securities and Exchange Commission.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B>Background and Overview</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">We are an education
services holding company that owns Strayer University. Strayer University is an institution of higher education which offers undergraduate
and graduate degree programs at physical campuses, predominantly located in the Eastern United States, and online.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Strayer University
derived approximately 96% of its revenue for the three and nine months ended September 30, 2015 from tuition for educational programs,
whether delivered in person at a physical campus or delivered online. The academic year of the University is divided into four
quarters, which approximately coincide with the four quarters of the calendar year. Students make payment arrangements for the
tuition for each course at the time of enrollment. Tuition revenue is recognized in the quarter of instruction. If a student withdraws
from a course prior to completion, the University refunds a portion of the tuition depending on when the withdrawal occurs. Tuition
revenue is shown net of any refunds, withdrawals, corporate discounts, employee tuition discounts and scholarships. The University
also derives revenue from other sources such as textbook-related income, certificate revenue, certain academic fees, licensing
revenue, and other income, which are all recognized when earned.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">We record tuition
receivable and deferred revenue for our students upon the start of the academic term. Because the University&rsquo;s academic
quarters coincide with the calendar quarters, at the end of the fiscal quarter (and academic term), tuition receivable represents
amounts due from students for educational services already provided and deferred revenue represents advance payments from students
for academic services to be provided in the future. Based upon past experience and judgment, the University establishes an allowance
for doubtful accounts with respect to accounts receivable. Any uncollected account more than one year past due is charged against
the allowance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Below is a description of the nature
of the costs included in our operating expense categories:</FONT></P>

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    <TD STYLE="width: 0.25in; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt"><I>Instruction and educational support
    expenses</I> generally contain items of expense directly attributable to educational activities of the University. This expense
    category includes salaries and benefits of faculty and academic administrators, as well as administrative personnel who support
    and serve student interests. Instruction and educational support expenses also include costs of educational supplies and facilities,
    including rent for campus facilities, certain costs of establishing and maintaining computer laboratories and all other physical
    plant and occupancy costs, with the exception of costs attributable to the corporate offices. Bad debt expense incurred on
    delinquent student account balances is also included in instruction and educational support expenses.</FONT></td></tr>
</table>
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<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 0.25in; text-align: justify; text-indent: 0; padding: 0"></td>
    <TD STYLE="width: 0.25in; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt"><I>Marketing expenses</I> include
    the costs of advertising and production of marketing materials and related personnel costs.</FONT></td></tr>
</table>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 0.25in; text-align: justify; text-indent: 0; padding: 0"></td>
    <TD STYLE="width: 0.25in; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt"><I>Admissions advisory expenses
    </I>include salaries, benefits and related costs of personnel engaged in admissions.</FONT></td></tr>
</table>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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    <TD NOWRAP STYLE="width: 0.25in; text-align: justify; text-indent: 0; padding: 0"></td>
    <TD STYLE="width: 0.25in; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&#9679;</FONT></td>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt"><I>General and administration expenses
    </I>include salaries and benefits of management and employees engaged in accounting, human resources, legal, regulatory compliance,
    and other corporate functions, along with the occupancy and other related costs attributable to such functions.</FONT></td></tr>
</table>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Investment income
consists primarily of earnings and realized gains or losses on investments, and interest expense consists of interest incurred
on our outstanding borrowings, unused revolving credit facility fees, and amortization of deferred financing costs.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Critical
Accounting Policies and Estimates</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&ldquo;Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations&rdquo; discusses our consolidated financial statements,
which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation
of these consolidated financial statements requires management to make estimates and judgments that affect the reported amounts
of assets, liabilities, revenues and expenses and the related disclosures of contingent assets and liabilities. On an ongoing
basis, management evaluates its estimates and judgments related to its allowance for doubtful accounts; income tax provisions;
the useful lives of property and equipment; redemption rates for scholarship programs; fair value of future contractual operating
lease obligations for facilities that have been closed; valuation of deferred tax assets, goodwill, and intangible assets; valuation
of our interest rate swap arrangement; forfeiture rates and achievability of performance targets for stock-based compensation
plans; and accrued expenses. Management bases its estimates and judgments on historical experience and various other factors and
assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments
regarding the carrying values of assets and liabilities that are not readily apparent from other sources. Management regularly
reviews its estimates and judgments for reasonableness and may modify them in the future. Actual results may differ from these
estimates under different assumptions or conditions.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Management believes
that the following critical accounting policies are its more significant judgments and estimates used in the preparation of its
consolidated financial statements.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Revenue recognition
</I>&ndash; Like many traditional institutions, Strayer University offers its educational programs on a quarter system having
four academic terms, which coincide with our quarterly financial reporting periods. At the start of each academic term, a liability
(deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the
tuition not paid upfront in cash. Any cash received prior to the start of an academic term is recorded as deferred revenue.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Students finance
their education in a variety of ways, and historically about three quarters of our students participated in one or more financial
aid programs provided through Title IV of the Higher Education Act. In addition, many of our working adult students finance their
own education or receive full or partial tuition reimbursement from their employers. Those students who are veterans or active
duty military personnel have access to various additional government-funded educational benefit programs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">A typical class
is offered in weekly increments over a ten-week period and is followed by an exam. Students who withdraw from a course may be
eligible for a refund of tuition charges based on the timing of the withdrawal. The withdrawal date is based on the student&rsquo;s
last date of attendance. Student attendance is based on physical presence in class for on-ground classes. For online classes,
attendance consists of logging into one&rsquo;s course shell and performing an academically related activity (e.g., engaging in
a discussion post or taking a quiz).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">If a student
withdraws from a course prior to completion, a portion of the tuition is refundable depending on when the withdrawal occurs. Our
refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that
course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the University&rsquo;s
academic terms coincide with our financial reporting periods, all refunds are processed and recorded in the same quarter as the
corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&rsquo;s state of residence.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">For undergraduate
students who withdraw from all their courses during the quarter of instruction, we reassess collectibility of tuition and fees
for revenue recognition purposes. In addition, we cease revenue recognition when a student fully withdraws from all of his or
her courses in the academic term. Tuition charges billed in accordance with our billing schedule may be greater than the pro rata
revenue amount, but the additional amounts are not recognized as revenue unless they are collected in cash.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">For students
who receive funding under Title IV, funds are subject to return provisions as defined by the Department of Education. If Title
IV funds are returned to the Department of Education, the student is responsible for paying the amount of prorated tuition charged
to him or her. Loss of financial aid eligibility during an academic term is rare and would normally coincide with the student&rsquo;s
withdrawal from the institution. As discussed above, we cease revenue recognition upon a student&rsquo;s withdrawal from all of
his or her classes in an academic term.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">New students
registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent
terms qualify for the Graduation Fund, whereby qualifying students earn tuition credits that are redeemable in the final year
of a student&rsquo;s course of study if he or she successfully remains in the program. Students must meet all of the University&rsquo;s
admission requirements and not be eligible for any previously offered scholarship program. Our employees and their dependents
are not eligible for the program. To maintain eligibility, students must be enrolled in an undergraduate degree program. Students
become ineligible to participate in the Graduation Fund if they have more than one consecutive term of non-attendance. In their
final academic year, qualifying students will receive one free course for every three courses that were successfully completed.
Revenue and the value of the benefit earned by students participating in the Graduation Fund is recognized based on a systematic
and rational allocation of the cost of honoring the benefit earned and claimed to each of the underlying revenue transactions
that result in progress by the student toward earning the benefit. The estimated value of awards under the Graduation Fund that
will be recognized in the future is based on historical experience of student persistence toward completion of a course of study.
Each quarter we assess our methodologies and assumptions underlying our estimates and to date any adjustments to our estimates
have not been material.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Tuition receivable </I>&ndash; We
record estimates for our allowance for doubtful accounts for tuition receivable from students primarily based on our historical
collection rates by age of receivable, net of recoveries, and consideration of other relevant factors. Our experience is that
payment of outstanding balances is significantly influenced by whether the student returns to the institution as we require students
to make payment arrangements for their outstanding balances prior to enrollment. Therefore, we monitor outstanding tuition receivable
balances through subsequent terms, increasing the reserve on such balances over time as the likelihood of returning to the institution
diminishes and our historical experience indicates collection is less likely. We periodically assess our methodologies for estimating
bad debts in consideration of actual experience. If the financial condition of our students were to deteriorate, resulting in
evidence of impairment of their ability to make required payments for tuition payable to us, additional allowances or write-offs
may be required. For the third quarter, our bad debt expense was 2.3% of revenue, compared to 3.6% for the same period in 2014. A change in our allowance for doubtful accounts
of 1% of gross tuition receivable as of September 30, 2015 would have changed our income from operations by approximately $0.3
million.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Accrued lease and related costs
</I>&ndash; We estimate potential sublease income and vacancy periods for space that is not in use, adjusting our estimates when
circumstances change. If we enter into subleases at rates that are substantially different than our current estimates, we will
adjust our liability for lease and related costs. During the nine months ended September 30, 2015 and 2014, we reduced our estimated
liability for leases by approximately $0.4 million and $3.9 million, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Other estimates
</I>&ndash; We record estimates for certain of our accrued expenses and income tax liabilities. We estimate the useful lives of
our property and equipment. We periodically assess goodwill and intangible assets for impairment. We assess the value of our interest
rate swap arrangement every quarter. We periodically review our assumed forfeiture rates and ability to achieve performance targets
for stock-based awards and adjust them as necessary. Should actual results differ from our estimates, revisions to our accrued
expenses, carrying amount of goodwill and intangible assets, stock-based compensation expense, and income tax liabilities may
be required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Results of
Operations</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the third quarter of 2015, we generated
$99.1 million in revenue, a 2% decrease compared to the third quarter of 2014, driven primarily by a 4% decline in revenue per
student, partially offset by a 2% increase in enrollment. Income from operations was $7.3 million for the third quarter of 2015,
and includes approximately $0.4 million in adjustments to our liability for losses on facilities no longer in use. Income from
operations was $9.2 million for the third quarter of 2014, which includes approximately $1.5 million in adjustments to reduce our
liability for losses on facilities no longer in use. Net income was $3.7 million in the third quarter of 2015, including approximately
$0.2 million in after-tax benefits to the Company&rsquo;s liability for facilities no longer in use, compared to $5.0 million for
the same period in 2014, which reflected approximately $1.0 million in after-tax earnings related to the restructuring. Diluted
earnings per share for the third quarter of 2015 was $0.35 compared to $0.46 for the same period in 2014. Diluted earnings per
share for the third quarter of 2015 includes $0.02 per share in after-tax benefits related to the reduction of the Company&rsquo;s
liability for losses on facilities no longer in use, and diluted earnings per share for the same period in 2014 reflects approximately
$0.09 per share in after-tax adjustments related to the restructuring.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Key enrollment
trends by quarter were as follows:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Enrollment</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">% Change vs Prior
Year</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;<IMG SRC="img_001.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Enrollment trends
for us and for the proprietary higher education sector generally have been negative to flat over the past several years. We believe
that this is due to lower confidence in job prospects, combined with the high cost of obtaining a college education and increasing
competition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">We cannot predict
future enrollments or whether new student enrollment will decline further, stabilize or increase in response to the economy or
other factors. However, we have introduced a number of initiatives in response to these declining enrollment trends. Recognizing
that affordability is an important factor in a prospective student&rsquo;s decision to seek a college degree, we reduced our undergraduate
tuition for new students by 20% beginning in our 2014 winter term and did not increase undergraduate tuition for 2015. We also
introduced our Graduation Fund in mid-2013, whereby qualifying students can receive one free course for every three courses successfully
completed. The free courses are redeemable in the student&rsquo;s final academic year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In 2013, we
undertook some restructuring initiatives, including the closing of 20 physical locations. The revenue impact of these initiatives
is not known since the University made online classes available to these students. However, we estimate these actions reduced
our operating expenses by approximately $50 million in 2014. Additional information can be found in Note 3 of the unaudited condensed
consolidated financial statements under the caption &ldquo;Restructuring and Related Charges.&rdquo; We believe these measures
and others that are embedded in our strategic priorities will allow us to continue to deliver high quality, affordable education
which should result in growth for the University over the long-term.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Three Months
Ended September&nbsp;30, 2015 Compared to Three Months Ended September&nbsp;30, 2014</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Enrollment.
</I>Enrollment at Strayer University for the 2015 summer term, which began July 1, 2015 and ended September&nbsp;14, 2015, increased
2% to 37,221 students compared to 36,403 students for the same term in 2014. New student enrollments increased by 4%, and continuing
student enrollments increased by 2%.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Revenues</I>. Revenues decreased 2% to
$99.1 million in the third quarter of 2015 from $100.8 million in the third quarter of 2014, principally due to a 4% decline in
revenue per student, partially offset by a 2% increase in enrollment. The decline in revenue per student is largely attributable
to the new pricing structure introduced in early 2014 which reduced tuition for new undergraduate students by approximately 20%,
and made them eligible for our Graduation Fund which enables qualifying undergraduate students to receive up to an additional
25% reduction to their tuition. Revenues for undergraduate students increased 3% in the three months ended September 30, 2015,
driven by an increase in undergraduate enrollment of 9%, offset by a decline of 6% in revenue per student, resulting mostly from
the new pricing structure for new undergraduate students. We expect this decline in revenue per student to continue at the undergraduate
level as we continue to enroll more new undergraduate students eligible for the new pricing structure over time. For graduate
students, revenues decreased 10% in the three months ended September 30, 2015, driven by a decline in enrollment of 10%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Instruction
and educational support expenses.</I> Instruction and educational support expenses decreased $0.6 million, or 1%, to $55.3 million
in the third quarter of 2015 from $55.9 million in the third quarter of 2014. We recorded approximately $1.5 million in benefits
in the three months ended September 30, 2014 resulting from changes in the timing and expected income from settlements and executed
sublease agreements signed during the period. There were no adjustments in the three months ended September 30, 2015. Instruction
and educational support expenses as a percentage of revenues increased to 55.8% in the third quarter of 2015 from 55.5% in the
third quarter of 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Marketing expenses.</I> Marketing expenses
increased by $1.1 million, or 5%, to $21.6 million in the third quarter of 2015 from $20.5 million in the third quarter of 2014.
Marketing expenses as a percentage of revenues increased to 21.8% in the third quarter of 2015, from 20.4% in the third quarter
of 2014.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Admissions
advisory expenses.</I> Admissions advisory expenses were $4.1 million in the third quarter of 2015 and 2014. Admissions advisory
expenses as a percentage of revenues increased slightly to 4.1% in the third quarter of 2015 from 4.0% in the third quarter of
2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>General and
administration expenses.</I> General and administration expenses decreased $0.1 million, or 1%, to $10.9 million in the third
quarter of 2015 from $11.0 million in the third quarter of 2014. We recorded no adjustments in the three months ended September
30, 2014 resulting from changes in the timing and expected income from settlements and executed sublease agreements signed during
the period, compared to approximately $0.4 million in benefits in the three months ended September 2015. General and administration
expenses as a percentage of revenues increased slightly to 11.0% in the third quarter of 2015 from 10.9% in the third quarter
of 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Income from
operations.</I> Income from operations decreased $1.9 million, or 21%, to $7.3 million in the third quarter of 2015 from $9.2
million in the third quarter of 2014, due to the aforementioned factors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Interest
expense.</I> Interest expense decreased to $1.1 million in the third quarter of 2015 compared to $1.3 million in the third quarter
of 2014. During the third quarter we amended our credit facility and have no debt outstanding as of September 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Provision
for income taxes.</I> Income tax expense decreased $0.6 million, or 19%, to $2.4 million in the third quarter of 2015 from $3.0
million in the third quarter of 2014, primarily due to the decrease in income before taxes attributable to the factors discussed
above. Our effective tax rate was 39.5% in the third quarter of 2015, compared to 37.7% for the same period in 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Net income.
</I>Net income decreased $1.3 million, or 25%, to $3.7 million in the third quarter of 2015 from $5.0 million in the third quarter
of 2014 due to the factors discussed above.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt"><FONT STYLE="font-size: 10pt"><B>Nine Months Ended
September&nbsp;30, 2015 Compared to Nine Months Ended September&nbsp;30, 2014</B></FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Enrollment.</I>&nbsp;Average
enrollment was 39,608 students for the nine months ended September 30, 2015 compared to 39,609 students for the same period in
2014.</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Revenues.</I>&nbsp;Revenues
decreased 3% to $320.8 million in the nine months ended September 30, 2015 from $330.0 million in the nine months ended September
30, 2014, principally due to a decline in revenue per student of 3%. The decline in revenue per student is largely attributable
to the new pricing structure introduced in early 2014 which reduced tuition for new undergraduate students by approximately 20%,
and made them eligible for our Graduation Fund which enables qualifying undergraduate students to receive up to an additional
25% reduction to their tuition. Revenues for undergraduate students were generally unchanged in the nine months ended September
30, 2015, driven by a decline of 6% in revenue per student, resulting mostly from the new pricing structure for new undergraduate
students, offset by an increase in undergraduate enrollment. We expect this decline in revenue per student to continue at the
undergraduate level as we continue to enroll more new undergraduate students eligible for the new pricing structure over time.
For graduate students, revenues decreased 8% in the nine months ended September 30, 2015, driven by a decline in enrollment of
10%, partially offset by an increase in revenue per student. The increase in graduate revenue per student was primarily due to
increased tuition and classes per student compared to the same period in the prior year.</FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify"><I>Instruction and educational
support expenses.</I> Instruction and educational expenses support increased by $0.6 million, or 0.4%, to $174.2 million in the
nine months ended September 30, 2015 from $174.8 million in the nine months ended September 30, 2014. We recorded approximately
$3.9 million in benefits in the nine months ended September 30, 2014 resulting from changes in the timing and expected income
from settlements and executed sublease agreements signed during the period, compared to approximately $48,000 recorded in the
nine months ended September 30, 2015. Instruction and educational support expenses as a percentage of revenues increased to 54.3%
in the nine months ended September 30, 2015 from 53.0% in the nine months ended September 30, 2014.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Marketing
expenses.</I> Marketing expenses increased by $2.7 million, or 6%, to $52.9 million in the nine months ended September 30, 2015
from $50.2 million in the nine months ended September 30, 2014. Marketing expenses as a percentage of revenues increased to 16.5%
in the nine months ended September 30, 2015, from 15.2% in the nine months ended September 30, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Admissions
advisory expenses.</I> Admissions advisory expenses decreased by $0.5 million, or 4%, to $12.1 million in the nine months ended
September 30, 2015 from $12.6 million in the nine months ended September 30, 2014. Admissions advisory expenses as a percentage
of revenues was 3.8% in both the nine months ended September 30, 2015 and 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>General and
administration expenses.</I> General and administration expenses increased $0.2 million, or 1%, to $33.4 million in the nine months
ended September 30, 2015 from $33.2 million in the nine months ended September 30, 2014. We recorded no adjustments in the nine
months ended September 30, 2014 resulting from changes in the timing and expected income from settlements and executed sublease
agreements signed during the period, compared to approximately $0.4 million in benefits in the nine months ended September 2015.
General and administration expenses as a percentage of revenues increased to 10.4% in the nine months ended September 30, 2015
from 10.1% in the nine months ended September 30, 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Income from operations.</I> Income from operations decreased $11.1 million,
or 19%, to $48.0 million in the nine months ended September 30, 2015 from $59.1 million in the nine months ended September 30,
2014, due to the aforementioned factors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Interest
expense.</I> Interest expense decreased to $3.7 million in the nine months ended September 30, 2015 compared to $3.9 million in
the nine months ended September 30, 2014. During the third quarter we amended our credit facility and have no debt outstanding as of September 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Provision
for income taxes.</I> Income tax expense decreased $4.2 million, or 19%, to $17.6 million in the nine months ended September 30,
2015 from $21.8 million in the nine months ended September 30, 2014, primarily due to the decrease in income before taxes attributable
to the factors discussed above. Our effective tax rate was 39.5% in both the nine months ended September 30, 2015 and 2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Net income.
</I>Net income decreased $6.4 million, or 19%, to $27.0 million in the nine months ended September 30, 2015 from $33.4 million
in the nine months ended September 30, 2014, due to the factors discussed above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Liquidity
and Capital Resources</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At September 30, 2015, we had cash and cash
equivalents of $86.9 million compared to $162.3 million at December&nbsp;31, 2014 and $150.5 million at September 30, 2014. At
September 30, 2015, most of our excess cash was invested in bank overnight deposits and money market funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On
July 2, 2015, we used approximately $116 million of our existing cash and cash equivalents to prepay our term loan and terminate
an interest rate swap as part of an amendment to our credit and term loan agreement. We also paid approximately $0.9 million in
transaction fees in connection with the amendment. The amended credit agreement provides for a $150 million revolving credit facility
and an option to establish incremental term loans under certain conditions. The amended credit agreement has a maturity date of
July 2, 2020. We had no borrowings outstanding under the revolving credit facility after prepayment of the term loan facility.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Borrowings under
the revolving credit facility bear interest at LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (compared to 2.00%
to 2.50% under the prior credit facility), depending on our leverage ratio. An unused commitment fee ranging from 0.25% to 0.35%
(compared to 0.30% to 0.40% under the prior credit facility), depending on our leverage ratio, accrues on unused amounts under
the revolving credit facility. During the nine months ended September 30, 2014 and 2015, we paid cash interest of $3.4 million
and $2.3 million, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The amended
credit agreement is guaranteed by the University and is secured by substantially all of the personal property and assets of the
Company and the guarantor. The amended credit agreement contains customary covenants, representations, warranties, events of default
and remedies upon default. In addition, we must satisfy certain financial maintenance covenants, including a total leverage ratio,
a coverage ratio and a U.S. Department of Education financial responsibility composite score. We were in compliance with all applicable
covenants related to the amended credit agreement as of September 30, 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Our net
cash from operating activities for the nine months ended September 30, 2015 decreased to $53.8 million, as compared to $62.1
million for the same period in 2014. The decrease in net cash from operating activities was largely the result of the change
in income from operations from $59.1 million during the nine months ended September 30, 2014, to $48.0 million during the
nine months ended September 30, 2015, partially offset by cash provided by changes in tax and interest payments. Capital
expenditures were $9.6 million for the nine months ended September 30, 2015, compared to $4.1 million for the same period in
2014.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: justify">For the nine months ended September 30, 2015,
we did not repurchase any shares of common stock and, at December 31, 2014, had $70 million in repurchase authorization to use
through December 31, 2016. We did not pay any dividends in either 2014 or 2015.</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman,serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For the third quarter, our bad
debt expense was 2.3% of revenue, compared to 3.6% for the same period in 2014. We expect bad debt expense to be  3.0% to
4.0% of revenue on an annual basis.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">We have available
$150 million under our revolving credit facility, plus an option to increase funds available by an additional $50 million. We
believe that existing cash and cash equivalents, cash generated from operating activities, and if necessary, cash borrowed under
the revolving credit facility, will be sufficient to meet our requirements for at least the next 12 months. Currently, we maintain
our cash in mostly FDIC-insured bank accounts. Excess cash is invested in money market funds, which is included in cash and cash
equivalents at September 30, 2014 and 2015. We earned interest income of approximately $45,000 and $0.2 million in the nine months
ended September 30, 2014 and 2015, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below sets forth our contractual
commitments associated with operating leases as of September 30, 2015. Although they have been paid in the past, dividends are
not a contractual commitment and, therefore, have been excluded from this table.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Calibri, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="18" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Payments due by period (in thousands)</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Total</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">Less than 1 <BR> Year</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">1-3 <BR> Years</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">3-5 <BR> Years</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD><TD STYLE="font-family: Times New Roman,serif; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-family: Times New Roman,serif; text-align: center; border-bottom: Black 1.5pt solid">More than 5 <BR> Years</TD><TD STYLE="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 40%; font-family: Times New Roman,serif; text-align: justify">Operating leases</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">176,756</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">37,308</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">64,780</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">44,337</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">$</TD><TD STYLE="width: 9%; font-family: Times New Roman,serif; text-align: right">30,331</TD><TD STYLE="width: 1%; font-family: Times New Roman,serif; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>ITEM&nbsp;3:&nbsp;&nbsp;&nbsp;QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">We are subject
to the impact of interest rate changes and may be subject to changes in the market values of our future investments. We invest
our excess cash in bank overnight deposits, money market funds and marketable securities. We have not used derivative financial
instruments in our investment portfolio. Earnings from investments in bank overnight deposits, money market mutual funds, and
marketable securities may be adversely affected in the future should interest rates decline, although such a decline may reduce
the interest rate payable on any borrowings under our revolving credit facility. Our future investment income may fall short of
expectations due to changes in interest rates or we may suffer losses in principal if forced to sell securities that have declined
in market value due to changes in interest rates. As of September 30, 2015, a 1% increase or decrease in interest rates would
not have a material impact on our future earnings, fair values, or cash flows related to investments in cash equivalents or interest
earning marketable securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Changing interest
rates could also have a negative impact on the amount of interest expense we incur. On July 2, 2015, we amended our revolving
credit and term loan agreement which now provides for a $150 million revolving credit facility and an option to establish incremental
term loans under certain conditions. Borrowings under the revolving credit facility bear interest at LIBOR or a base rate, plus
a margin ranging from 1.75% to 2.25%, depending on our leverage ratio. An increase in LIBOR would affect interest expense on any
outstanding balance of the revolving credit facility. For every 100 basis points increase in LIBOR, we would incur an incremental
$1.5 million in interest expense per year assuming the entire $150 million revolving credit facility were utilized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>ITEM&nbsp;4:&nbsp;&nbsp;
CONTROLS AND PROCEDURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 0.5in; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">a)</FONT></td>
    <TD STYLE="padding: 0; text-indent: 0"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><I>Disclosure
        Controls and Procedures.</I> The Company&rsquo;s management, with the participation of the Company&rsquo;s Chief Executive
        Officer and Chief Financial Officer, has evaluated the effectiveness of the Company&rsquo;s disclosure controls and procedures
        as of September 30, 2015. Based upon such review, the Chief Executive Officer and Chief Financial Officer have concluded
        that the Company has in place, as of September 30, 2015, effective disclosure controls and procedures designed to ensure
        that information required to be disclosed by the Company (including consolidated subsidiaries) in the reports it files
        or submits under the Securities Exchange Act of 1934, as amended, and the rules thereunder, is recorded, processed, summarized
        and reported within the time periods specified in the Commission&rsquo;s rules and forms. Disclosure controls and procedures
        include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an
        issuer in reports it files or submits under the Securities Exchange Act is accumulated and communicated to the Company&rsquo;s
        management, including its principal executive officer or officers and principal financial officer or officers, or persons
        performing similar functions, as appropriate to allow timely decisions regarding required disclosure.</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P></td></tr>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;b)</FONT></td>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><I>Internal Control Over Financial
    Reporting</I>. There have not been any changes in the Company&rsquo;s internal control over financial reporting during the
    quarter ended September 30, 2015 that have materially affected, or are reasonably likely to materially affect, the Company&rsquo;s
    internal control over financial reporting.</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;<B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>PART II &mdash;
OTHER INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;1.&nbsp;&nbsp;</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Legal Proceedings</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">From time to
time, we are involved in litigation and other legal proceedings arising out of the ordinary course of our business. There are
no pending material legal proceedings to which we or our property are subject.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59.4pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;1A.&nbsp;&nbsp;</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Risk Factors </B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">You should carefully
consider the factors discussed in Part I, &ldquo;Item 1A. Risk Factors&rdquo; in our Annual Report on Form 10-K for the year ended
December 31, 2014, and in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2015, which could materially affect
our business, adversely affect the market price of our common stock and could cause you to suffer a partial or complete loss of
your investment. There have been no material changes to the risk factors previously described in Part I, Item 1A included in the
Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2014, and in our Quarterly Report on Form 10-Q for
the quarter ended March 31, 2015. Those risks are incorporated herein by this reference. The risks described in our Annual Report
on Form 10-K and in our Quarterly Report are not the only risks facing our Company. Additional risks and uncertainties not currently
known to us or that we currently deem to be immaterial also may materially adversely affect our business. See &ldquo;Cautionary
Notice Regarding Forward-Looking Statements.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;2.&nbsp;&nbsp;</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Unregistered Sales
    of Equity Securities and Use of Proceeds</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30,
2015, we did not repurchase any shares of common stock under our repurchase program. The remaining authorization for our common
stock repurchases was $70.0&nbsp;million at September 30, 2015, and is available for use through December 31, 2016.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;3.&nbsp;&nbsp;</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Defaults Upon Senior
    Securities</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">None</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item 4.</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Mine Safety Disclosures</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Not applicable</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;5.&nbsp;&nbsp;</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Other Information</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">None</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 8%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Item&nbsp;6.&nbsp;&nbsp;</B></FONT></td>
    <TD STYLE="width: 92%; text-align: justify; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>Exhibits</B></FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">The exhibits
required to be filed as part of this Quarterly Report on Form 10-Q are listed in the Exhibit Index attached hereto and are incorporated
herein by reference.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 10pt"><FONT STYLE="font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.</FONT></P>

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    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">STRAYER EDUCATION, INC.</FONT></td></tr>
<tr>
    <TD STYLE="padding: 0; text-indent: 0; width: 60%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="width: 4%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 36%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0 0 1.5pt; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-size: 10pt">/s/
    Daniel W. Jackson</FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Daniel W. Jackson</FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Executive Vice President and Chief Financial Officer</FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></td>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Date: October 30, 2015</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Exhibit
Index</B></FONT></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; border-bottom: Black 1.5pt solid; vertical-align: top"><FONT STYLE="font-size: 10pt">Exhibit</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1.5pt solid"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">10.1</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">First Amendment to Second Amended and Restated Revolving Credit
    and Term Loan Agreement, dated as of July 2, 2015, among the Company, Strayer University, LLC, SunTrust Bank, as Administrative
    Agent, and the other lenders party thereto (incorporated by reference to Exhibit 10.1 of the Company&rsquo;s Current Report
    on Form 8-K filed with the Commission on July 8, 2015).</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">10.2</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Supplement and Joinder Agreement, dated as of July 2, 2015,
    among the Company, Strayer University, LLC, SunTrust Bank, as Administrative Agent, and other lenders party thereto (incorporated
    by reference to Exhibit 10.2 of the Company&rsquo;s Current Report on Form 8-K filed with the Commission on July 8, 2015).</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">31.1</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Certification of Chief Executive Officer pursuant to Rule 13a-14(a)
    of the Securities Act.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">31.2</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Certification of Chief Financial Officer pursuant to Rule 13a-14(a)
    of the Securities Act.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">32.1</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Certification of Chief Executive Officer pursuant to 18 U.S.C.
    Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">32.2</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Certification of Chief Financial Officer pursuant to 18 U.S.C.
    Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">101.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">INS XBRL Instance Document</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">101.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">SCH XBRL Schema Document</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">101.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">CAL XBRL Calculation Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">101.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">DEF XBRL Definition Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">101.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">LAB XBRL Label Linkbase Document</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center; vertical-align: top"><FONT STYLE="font-size: 10pt">101.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">PRE XBRL Presentation Linkbase Document</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>




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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 10pt">28</FONT></P>

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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>2
<FILENAME>f10q0915ex31i_strayereducat.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: center"><B>CERTIFICATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">I, Karl McDonnell, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 19.8pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">1.</TD>
    <TD STYLE="width: 94%; text-align: justify; padding: 0; text-indent: 0">I have reviewed this quarterly report on Form 10-Q of Strayer Education, Inc.;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">2.</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">3.</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">4.</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 3%">(a)</TD>
    <TD STYLE="text-align: justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(b)</TD>
    <TD STYLE="text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(c)</TD>
    <TD STYLE="text-align: justify">Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(d)</TD>
    <TD STYLE="text-align: justify">Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">5.</TD>
    <TD COLSPAN="2">The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions): &nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">(a)</TD>
    <TD STYLE="width: 91%; text-align: justify; padding: 0; text-indent: 0">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">(b)</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 19.8pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: October 30, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 19.8pt; text-indent: 0.5in">&nbsp;</P>

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    <TD STYLE="width: 60%; padding: 0 0 1.5pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">/s/ Karl McDonnell</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Karl McDonnell</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Executive Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P></TD></TR>
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<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>f10q0915ex31ii_strayereducat.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: center"><B>CERTIFICATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">I, Daniel W. Jackson, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 19.8pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">1.</TD>
    <TD STYLE="width: 94%; text-align: justify; padding: 0; text-indent: 0">I have reviewed this quarterly report on Form 10-Q of Strayer Education, Inc.;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">2.</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">3.</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">4.</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">The registrant&rsquo;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify; width: 3%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify; width: 3%">(a)</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">(b)</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">(c)</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">Evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">(d)</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">Disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; text-align: justify">5.</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0; text-align: justify">The registrant&rsquo;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify; padding: 0; text-indent: 0">(a)</TD>
    <TD STYLE="width: 91%; text-align: justify; padding: 0; text-indent: 0">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">(b)</TD>
    <TD STYLE="text-align: justify; padding: 0; text-indent: 0">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 19.8pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: October 30, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 19.8pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding: 0 0 1.5pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">/s/ Daniel W. Jackson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Daniel W. Jackson</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Executive Vice President and <BR>
Chief Financial Officer</P></TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>f10q0915ex32i_strayereducat.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULE
13a &ndash; 14(b) OF THE SECURITIES EXCHANGE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: center"><B>ACT AND 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-align: center"><B>SARBANES &ndash; OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Quarterly Report of
Strayer Education, Inc. (the &ldquo;Company&rdquo;) on Form 10-Q for the period ended September&nbsp;30, 2015 as filed with the
Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Karl McDonnell, Chief Executive Officer of
the Company, certify, pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to &sect;906 of the Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 49.5pt; text-align: justify">(1) The Report fully complies with the requirements
of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 49.5pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 49.5pt; text-align: justify">(2) The information contained in the Report fairly
presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">Date: October 30, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding: 0 0 1.5pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">/s/ Karl McDonnell</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Karl McDonnell</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>f10q0915ex32ii_strayereducat.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CERTIFICATION PURSUANT TO RULE 13a &ndash;
14(b) OF THE SECURITIES EXCHANGE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ACT AND 18 U.S.C. SECTION 1350, AS ADOPTED
PURSUANT TO SECTION 906 OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SARBANES &ndash; OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Quarterly Report of
Strayer Education, Inc. (the &ldquo;Company&rdquo;) on Form 10-Q for the period ended September&nbsp;30, 2015 as filed with the
Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Daniel W. Jackson, Executive Vice President
and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to &sect;906 of the
Sarbanes-Oxley Act of 2002, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 49.5pt; text-align: justify">(1) The Report fully complies with the requirements
of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 49.5pt; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 49.5pt; text-align: justify">(2) The information contained in the Report fairly
presents, in all material respects, the financial condition and results of operations of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: October 30, 2015</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding: 0 0 1.5pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; border-bottom: Black 1.5pt solid; padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">/s/ Daniel W. Jackson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Daniel W. Jackson</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Executive Vice President and</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Financial Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 7.7pt 0 0">&nbsp;</P>


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</HTML>
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<SEQUENCE>6
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<us-gaap:NatureOfOperations contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 50.4px; text-align: justify; text-indent: 0px;"&gt;&lt;b&gt;1.&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 1200px; text-align: justify; text-indent: 0px;"&gt;&lt;b&gt;Nature of Operations&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Strayer Education, Inc. (the &amp;#8220;Company&amp;#8221;), a Maryland corporation, conducts its operations through its wholly owned subsidiary, Strayer University (the &amp;#8220;University&amp;#8221;). The University is an accredited institution of higher education that provides undergraduate and graduate degrees in various fields of study through physical campuses, predominantly located in the eastern United States, and online. With the Company&amp;#8217;s focus on the student, regardless of whether he or she chooses to take classes at a physical campus or online, it has only one reporting segment.&lt;/p&gt;&lt;/div&gt;</us-gaap:NatureOfOperations>
<us-gaap:SignificantAccountingPoliciesTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;2.&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Significant Accounting Policies&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Financial Statement Presentation&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The consolidated financial statements include the accounts of the Company and its only subsidiary, the University. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;All information as of December&amp;#160;31, 2014 and September&amp;#160;30, 2014 and 2015, and for the three and nine months ended September 30, 2014 and 2015 is unaudited but, in the opinion of management, contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the condensed consolidated financial position, results of operations, and cash flows of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company&amp;#8217;s Annual Report on Form 10-K for the fiscal year ended December&amp;#160;31, 2014. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the full fiscal year.&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Revenue Recognition&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company&amp;#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&amp;#8217;s quarterly financial reporting periods. Approximately 96% of the Company&amp;#8217;s revenues during the nine months ended September 30, 2015 consisted of tuition revenue, which
 is recognized
 in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&amp;#8217;s ability to pay, including the timing of a student&amp;#8217;s withdrawal from a program of study.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. The estimated value of scholarship awards which will be realized in the future is deducted from revenue when earned, and is based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company&amp;#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&amp;#8217;s academic terms coincide with its financial reporting periods, all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&amp;#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Graduation Fund&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&amp;#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&amp;#8217;s admission requirements and not be eligible for any previously offered scholarship program. The Company&amp;#8217;s employees and their dependents are not eligible for the program. To maintain eligibility, students must be enrolled in an undergraduate degree program and students become ineligible to participate in the Graduation Fund if they have more than one consecutive term of non-attendance. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal;
 letter-spacing: normal; line-height:
 normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company allocates the value of benefits estimated to be earned evenly to each of the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&amp;#8217;s estimate of the benefits that will be earned in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $9.4 million and is included in deferred revenue within total current liabilities in the unaudited condensed consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The table below presents activity in the Graduation Fund for the nine months ended September 30, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1379px; font-size: 10pt;"&gt;Balance at December 31, 2014&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;9,706&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Revenue deferred&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;12,423&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Benefit redeemed&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(3,974&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt; text-indent: -19.8pt; padding-left: 29.7pt;"&gt;Balance at September 30, 2015&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;18,155&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align:
 justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Restricted Cash&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p
 style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;A significant portion of the Company&amp;#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. At December 31, 2014 and September 30, 2015, the Company had approximately $0.2 million and $0.7 million of these unpaid obligations, respectively, which are recorded as restricted cash and included in other current assets.&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &amp;#8220;minimum protective endowment&amp;#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Tuition Receivable and Allowance for Doubtful Accounts&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of the quarter (and academic term), tuition receivable represents amounts due from students for educational services already provided and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&amp;#8217;s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates incorporate historical performance based on a student&amp;#8217;s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company&amp;#8217;s tuition receivable and allowance for doubtful accounts were as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal;
 line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space:
 normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/p&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;September 30,&lt;/b&gt;&lt;/p&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1191px; font-size: 10pt; text-align: left;"&gt;Tuition receivable&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 142px; font-size: 10pt; text-align: right;"&gt;25,777&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;26,840&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt;"&gt;Allowance for doubtful accounts&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(8,835&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(9,776&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; padding-left: 9.9pt;"&gt;Tuition receivable, net&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;16,942&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;17,064&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font
 style="font-size: 10pt;"&gt;Additionally, approximately $1.6 million and $1.9 million of tuition receivable is included in other assets as of December 31, 2014
 and September 30, 2015, respectively, because these amounts are expected to be collected after 12 months.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;&lt;br /&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The following table illustrates changes in the Company&amp;#8217;s allowance for doubtful accounts for the quarters ended (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For the three months&amp;#160;&lt;br /&gt;ended September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For the nine months&amp;#160;&lt;br /&gt;ended September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 788.609px; font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt;"&gt;Allowance for doubtful accounts, beginning of period&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 142px; font-size: 10pt; text-align: right;"&gt;9,144&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 142px; font-size: 10pt; text-align: right;"&gt;8,733&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;10,303&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;8,835&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt;"&gt;Additions charged to expense&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;3,652&lt;/td&gt;&lt;td style="font-size: 10pt;
 text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;2,293&lt;/td&gt;&lt;td style="font-size: 10pt;
 text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;12,255&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;9,315&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt;"&gt;Write-offs, net of recoveries&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(4,228&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(1,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(13,990&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(8,374&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -40.5pt; padding-left: 49.5pt;"&gt;Allowance for doubtful accounts, end of period&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;8,568&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;9,776&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;8,568&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;9,776&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Fair Value&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Fair Value Measurement Topic, ASC 820-10 (&amp;#8220;ASC 820-10&amp;#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the
 highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family:
 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 0.25in; padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company&amp;#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Goodwill and Indefinite-Lived Intangible Assets&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include an acquired trade name,&amp;#160;are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal;
 letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Goodwill and the indefinite-lived
 intangible assets are assessed at least annually for impairment as of September 30 of each year, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&amp;#160;&lt;i&gt;Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment&lt;/i&gt;, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed at September 30, 2015.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Accounting for Derivative Instruments and Hedging Activities&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a)&amp;#160;a forecasted transaction or (b)&amp;#160;the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&amp;#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal;
 font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Authorized
 Stock&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company has authorized 20,000,000 shares of common stock, par value $0.01, of which 10,903,341 and 11,028,265 shares were issued and outstanding as of December&amp;#160;31, 2014 and September 30, 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Stock-Based Compensation&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&amp;#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the unaudited condensed consolidated statements of income for the three and nine months ended September 30, 2014 and 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise, if necessary, the estimate in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Net Income Per Share&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under
 the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&amp;#8217;s common stock: (1)&amp;#160;the proceeds received from the exercise of stock options, (2)&amp;#160;the amount of compensation cost associated with the stock awards for future service not yet recognized by the
 Company, and (3)&amp;#160;the amount of tax benefits that would be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For&amp;#160;the&amp;#160;three&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For&amp;#160;the&amp;#160;nine&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 801.672px; text-indent: -10pt; padding-left: 10pt;"&gt;Weighted average shares outstanding used to compute basic earnings per share&lt;/td&gt;&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;10,571&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;10,593&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;10,555&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;10,586&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 10pt;"&gt;Unvested restricted stock&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;92&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;143&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;67&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;140&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -10pt; padding-left: 20pt;"&gt;Shares used to compute diluted earnings per share&lt;/td&gt;&lt;td style="padding-bottom:
 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,663&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td
 style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,736&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,622&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,726&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Income Taxes&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Income Taxes Topic, ASC 740, requires the Company to determine whether uncertain tax positions should be recognized within the Company&amp;#8217;s financial statements. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The tax years 2011-2014 remain open to examination by various taxing jurisdictions in which the Company is subject.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;br
 /&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px 0px
 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Use of Estimates&lt;/i&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates include allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Recent Accounting Pronouncements&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In May 2014, the FASB issued ASU No. 2014-09, &amp;#8220;Revenue from Contracts with Customers (Topic 606)&amp;#8221; (&amp;#8220;ASU 2014-09&amp;#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 was recently amended to defer the effective date to fiscal years beginning after December 15, 2017, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In April 2015, the FASB issued ASU No. 2015-03, &amp;#8220;Interest - Imputation of Interest (Subtopic 835-30)&amp;#8221; (&amp;#8220;ASU 2015-03&amp;#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/font&gt;&lt;/p&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
<us-gaap:RestructuringAndRelatedActivitiesDisclosureTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;3.&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Restructuring and Related Charges&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In October 2013, the Company implemented a restructuring to better align the Company&amp;#8217;s resources with its current student enrollments.&amp;#160;This restructuring, which occurred primarily in the fourth quarter of 2013, included the closing of 20 physical locations and reductions in the number of campus-based and corporate employees. The Company recorded approximately $36.0 million of aggregate charges representing the estimated fair value of future contractual operating lease obligations, which were recorded in the periods the Company ceased using the respective facilities. Lease obligations, some of which continue through 2022, are measured at fair value using a discounted cash flow approach encompassing significant unobservable inputs (Level 3). The estimation of future cash flows includes non-cancelable contractual lease costs over the remaining terms of the leases discounted at the Company&amp;#8217;s marginal borrowing rate of 4.5%, partially offset by estimated future sublease rental income, which involves significant judgment. The Company&amp;#8217;s estimate of the amount and timing of sublease rental income considers subleases that have been executed and subleases expected to be executed based on current commercial real estate market data and conditions, and other qualitative factors specific to the facilities. The estimates are subject to adjustment as market conditions change or as new information becomes available, including the execution of additional sublease agreements.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The following details the changes in the Company&amp;#8217;s restructuring liability for lease and related costs during the nine months ended September 30, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1379px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif;"&gt;Balance at December 31, 2014&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;27,283&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', serif;"&gt;Non-cash adjustments&lt;sup&gt;(2)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;265&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;Payments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;(5,040&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="padding-bottom: 4pt; text-indent: -11pt; padding-left: 20pt;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman',
 serif;"&gt;Balance at September 30,
 2015&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;22,508&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;div align="left" style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin-top: 0px; margin-bottom: 0px;"&gt;&lt;div style="font-size: 1pt; border-top-color: black; border-top-width: 1.5pt; border-top-style: solid; width: 391.75px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 79px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1488px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;The current portion of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities in the unaudited condensed consolidated balance sheets.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Non-cash adjustments for lease and related costs&amp;#160;include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:RestructuringAndRelatedActivitiesDisclosureTextBlock>
<us-gaap:FairValueDisclosuresTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 50.4px; text-indent: 0px;"&gt;&lt;b&gt;4.&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 1200px; text-indent: 0px;"&gt;&lt;b&gt;Fair Value Measurement&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Assets and liabilities measured at fair value on a recurring basis consist of the following as of September 30, 2015 (in thousands):&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="10"&gt;Fair&amp;#160;Value&amp;#160;Measurements&amp;#160;at&amp;#160;Reporting&amp;#160;Date&amp;#160;Using&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;September&amp;#160;30, 2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Quoted&amp;#160;Prices in Active Markets&amp;#160;for Identical Assets/ Liabilities&lt;br /&gt;(Level&amp;#160;1)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Significant Other Observable Inputs&lt;br /&gt;(Level&amp;#160;2)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Significant Unobservable Inputs (Level&amp;#160;3)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;Assets:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;Cash equivalents:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 637.07px; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;Money market funds&lt;/td&gt;&lt;td style="width: 12.8px; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;100&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;100&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -10pt; padding-bottom: 4pt; padding-left: 20pt;"&gt;Total assets at fair value on a recurring basis&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;100&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;100&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td
 style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left;"&gt;Other liabilities:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;Deferred payments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -10pt; padding-bottom: 4pt; padding-left: 20pt;"&gt;Total liabilities at fair value on a recurring basis&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Assets and liabilities measured at fair value on a recurring basis consist of the following as of December&amp;#160;31, 2014 (in thousands):&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 7.7pt; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"
 colspan="10"&gt;Fair&amp;#160;Value&amp;#160;Measurements&amp;#160;at&amp;#160;Reporting&amp;#160;Date&amp;#160;Using&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;December 31, 2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Quoted&amp;#160;Prices in Active Markets&amp;#160;for Identical Assets/ Liabilities&lt;br /&gt;(Level&amp;#160;1)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Significant Other Observable Inputs&lt;br /&gt;(Level&amp;#160;2)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Significant Unobservable Inputs&lt;br /&gt;(Level&amp;#160;3)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;Assets:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;Cash equivalents:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 637.07px; text-align: left; padding-left: 10pt;"&gt;Money market funds&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;8,275&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;8,275&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;Interest rate swap&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;143&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;143&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 20pt;"&gt;Total assets at fair value on a recurring basis&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;8,418&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;8,275&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;143&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left;"&gt;Other liabilities:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align:
 left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;Deferred payments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;2,398&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;2,398&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 20pt;"&gt;Total liabilities at fair value on a recurring basis&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;2,398&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;2,398&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 7.7pt; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company measures the above items on a recurring basis at fair value as follows:&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-align: left; text-indent: 0px;"&gt;&lt;font style="font-family: symbol;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;Money market funds - The Company holds excess cash in both taxable and tax-exempt money market funds, which are classified in Level 1 and are included in cash and cash equivalents in the accompanying unaudited condensed consolidated balance sheets. The Company records any net unrealized gains and losses for changes in fair value as a component of accumulated other comprehensive income in stockholders&amp;#8217; equity. The Company&amp;#8217;s cash and cash equivalents not held in money market funds at December 31, 2014 and September 30, 2015 approximate fair value and are not disclosed in the above tables because of the short-term nature of the financial instruments.&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;Interest rate swap - The Company had an interest rate swap used to minimize the interest rate exposure and fix the variable interest rate on the Company&amp;#8217;s variable rate debt. The Company terminated the swap in July 2015 (see Note 5). The swap was classified within Level 2 and valued using readily available pricing sources which utilized market observable inputs including the current variable interest rate for similar types of instruments.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 13.33px/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width:
 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-align: left; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;Deferred payments - The Company acquired certain assets and entered into a deferred payment arrangement with one of the sellers in connection with an acquisition completed in 2011, which is classified within Level 3 as there is no liquid market for similarly priced instruments. The deferred payment is valued using a discounted cash flow model that encompasses significant unobservable inputs to estimate the operating results of the acquired assets. The assumptions used to prepare the discounted cash flows include estimates for interest rates, enrollment growth, retention rates and pricing strategies. These assumptions are subject to change as the underlying data sources evolve and the program matures.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s lease loss liability incorporates an assessment of current sublease market conditions and uses Level 3 inputs, but is not deemed a fair value liability as the future lease payments are required to be discounted using the Company&amp;#8217;s incremental borrowing rate at the date of lease abandonment without subsequent adjustment. See Note 3 for further discussion of the Company&amp;#8217;s lease loss liability.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 27.5pt; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods, and no assets or liabilities were transferred between levels of the fair value hierarchy during the nine months ended September 30, 2014 or 2015. Assets measured at fair value on a non-recurring basis are assessed for impairment annually at September 30, or more frequently if circumstances indicate an impairment may have occurred. No such circumstances existed, and, as of December 31, 2014 and September 30, 2015, $6.8 million of goodwill and $1.6 million of other indefinite-lived intangible assets are included in other assets in the Company&amp;#8217;s consolidated balance sheets.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Changes in the fair value of the Company&amp;#8217;s Level 3 liability that was outstanding throughout the nine months ended September 30, 2015 are as follows (in thousands):&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;b&gt;Deferred&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;b&gt;Payments&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1100.8px; text-align: justify;"&gt;Balance at December&amp;#160;31, 2014&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;2,398&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;Amounts earned&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;(534&lt;/td&gt;&lt;td style="text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;Adjustments to fair value&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;1,168&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;"&gt;Transfers in or out of Level 3&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;
 padding-bottom: 4pt;"&gt;Balance at September 30, 2015&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
<us-gaap:DebtDisclosureTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;5.&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Term Loan and Revolving Credit Facility&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;On July 2, 2015, the Company entered into an amended credit facility (the &amp;#8220;Amended Credit Facility&amp;#8221;) to replace its prior credit agreement (the &amp;#8220;Prior Credit Agreement&amp;#8221;) which provides for a revolving line of credit (the &amp;#8220;Revolver&amp;#8221;) up to $150.0 million and provides the Company with an option, under certain conditions, to increase the commitments under the Revolver or establish one or more incremental term loans in an amount up to $50 million in the aggregate in the future. The maturity date of the Amended Credit Facility is July 2, 2020.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In addition, the Amended Credit Facility provides that (i) borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company&amp;#8217;s election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (in lieu of the previous range from 2.00% to 2.50%), depending on the Company&amp;#8217;s leverage ratio, and (ii) the quarterly unused commitment fee shall be equal to a percentage ranging from 0.25% to 0.35% per annum (in lieu of the previous range from 0.30% to 0.40% per annum) depending on the Company&amp;#8217;s leverage ratio, times the daily unused amount under the Revolver.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Except for the ch&lt;font style="font-family: 'times new roman', times, serif;"&gt;anges included in the amendment, all other remaining terms of the Prior Credit Agreement, including the requirements that the Company satisfy certain financial maintenance covenants, remain in full force and effect. The Amended Credit Facility is guaranteed by the Company&amp;#8217;s subsidiary and is secured by substantially all of the personal property and assets of the Company and the guarantor. The Amended Credit Facility contains customary affirmative and negative covenants, representations, warranties, events of default and remedies upon default, including acceleration and rights to foreclose on the collateral securing the Amended Credit Facility. In addition, the Amended Credit Facility requires that the Company satisfy certain financial maintenance covenants, including:&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px; text-align: justify;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in; padding: 0px; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;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).&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0.5in; text-align: justify;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in; padding: 0px; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;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.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0.5in;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in; padding: 0px; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="width: 0.25in; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;a Department of Education Financial Responsibility Composite Score of not less than 1.5.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;The Company was in compliance with all the terms of the Amended Credit Facility as of September 30, 2015.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px; text-align: justify;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;During the three and nine months ended September 30, 2015, the Company paid cash interest of $0.1 million and $2.3 million, respectively, compared to $1&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;.1 million and $3.4 million during the three and nine months ended September 30, 2014, respectively. As of September 30, 2015, the Company had no balance outstanding under the Revolver.&lt;/font&gt;&lt;/p&gt;</us-gaap:DebtDisclosureTextBlock>
<us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;6.&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Stock Options, Restricted Stock and Restricted Stock Units&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;On May 5, 2015, the Company&amp;#8217;s shareholders approved the Strayer Education, Inc. 2015 Equity Compensation Plan (the &amp;#8220;2015 Plan&amp;#8221;), which replaces the Strayer Education, Inc. 2011 Equity Compensation Plan (the &amp;#8220;2011 Plan&amp;#8221;). The 2015 Plan provides for the granting of restricted stock, restricted stock units, stock options intended to qualify as incentive stock options, options that do not qualify as incentive stock options, and other forms of equity compensation and performance-based awards to employees, officers and directors of the Company, or to a consultant or advisor to the Company, at the discretion of the Board of Directors. Vesting provisions are at the discretion of the Board of Directors. Options may be granted at option prices based at or above the fair market value of the shares at the date of grant. The maximum term of the awards granted under the 2015 Plan is ten years. The number of shares of common stock reserved for issuance under the 2015 Plan is 500,000 authorized but unissued shares, plus the number of shares available for grant under the 2011 Plan at the time of stockholder approval of the 2015 Plan, and plus the number of shares which may in the future become available under the 2011 Plan due to forfeitures of outstanding awards.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In February 2015, the Company&amp;#8217;s Board of Directors approved grants of 71,991 shares of restricted stock to certain employees. These shares, which vest 100% in February 2019, were granted pursuant to the 2011 Plan. The Company&amp;#8217;s stock price closed at $70.15 on the date of these restricted stock grants.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In May 2015, the Company&amp;#8217;s Board of Directors approved grants of 40,867 shares of restricted stock. These shares, which vest in their entirety four years from the date of grant, were granted pursuant to the 2015 Plan. The Company&amp;#8217;s Board of Directors also approved grants of 13,797 shares of restricted stock. These shares, which vest annually over a three-year period, were awarded to non-employee members of the Company&amp;#8217;s Board of Directors, as part of the Company&amp;#8217;s annual director compensation program and pursuant to the 2015 Plan. The Company&amp;#8217;s stock price closed at $48.94 on the date of these restricted stock grants.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px 0px 10pt; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Dividends paid on unvested restricted stock are reimbursed to the Company if the recipient forfeits his or her shares as a result of termination of employment prior to vesting in the award, unless waived by the Board of Directors.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px;
 -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Restricted Stock and Restricted Stock Units&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The table below sets forth the restricted stock and restricted stock units activity for the nine months ended September 30, 2015:&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Number&amp;#160;&lt;br /&gt;of&amp;#160;shares&amp;#160;&lt;br /&gt;or units&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Weighted-&amp;#160;&lt;br /&gt;average&lt;br /&gt;grant&amp;#160;&lt;br /&gt;price&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1191px; font-family: 'times new roman', serif; text-align: justify;"&gt;Balance, December 31, 2014&lt;/td&gt;&lt;td style="width: 16px; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 142px; font-family: 'times new roman', serif; text-align: right;"&gt;524,216&lt;/td&gt;&lt;td style="width: 16px; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-family: 'times new roman', serif; text-align: right;"&gt;115.67&lt;/td&gt;&lt;td style="width: 15px; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-family: 'times new roman', serif; text-align: justify; padding-left: 0pt;"&gt;Grants&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: right;"&gt;126,655&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: right;"&gt;61.00&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-family: 'times new roman', serif; text-align: justify; padding-left: 0pt;"&gt;Vested shares&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: right;"&gt;(13,725&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: right;"&gt;52.94&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-family: 'times new roman', serif; text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt;"&gt;Forfeitures&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;"&gt;(1,731&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-family: 'times new roman', serif; text-align: right;"&gt;115.55&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-family: 'times new
 roman', serif; text-align: justify; padding-bottom: 4pt;
 text-indent: 9pt;"&gt;Balance, September 30, 2015&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;"&gt;635,415&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-family: 'times new roman', serif; text-align: right;"&gt;104.64&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&amp;#160;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;br /&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 7.7pt 0px 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Stock Options&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The table below sets forth the stock option activity and other stock option information as of and for the nine months ended September 30, 2015:&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Number&amp;#160;of&amp;#160;&lt;br /&gt;shares&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Weighted-average exercise&amp;#160;price&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Weighted-average remaining&amp;#160;&lt;br /&gt;contractual&amp;#160;&lt;br /&gt;life&amp;#160;(years)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;Aggregate intrinsic&lt;/font&gt;&lt;/p&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;value&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;font style="font-size: 10pt;"&gt;(in&amp;#160;thousands)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 815px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance, December&amp;#160;31, 2014&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font
 style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;&lt;font
 style="font-size: 10pt;"&gt;100,000&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;51.95&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;6.0&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,233&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Grants&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Exercises&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Forfeitures/Expirations&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="padding-bottom: 4pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance, September 30, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;100,000&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size:
 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td
 style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;51.95&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5.3&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Exercisable, September 30, 2015&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;100,000&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;51.95&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5.3&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;div align="left" style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin-top: 0px; margin-bottom: 0px;"&gt;&lt;div style="font-size: 1pt; border-top-color: black; border-top-width: 1.5pt; border-top-style: solid; width: 391.75px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;sup&gt;(1)&amp;#160;&amp;#160;&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&amp;#8217;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&amp;#8217;s common stock.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Valuation and Expense Information under Stock Compensation Topic ASC 718&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 27.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px;
 text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;At September 30, 2015, total stock-based
 compensation cost which has not yet been recognized was $28.2 million for unvested restricted stock, restricted stock units, and stock option awards. This cost is expected to be recognized over the next 35 months on a weighted-average basis. Awards of approximately 467,000 shares of restricted stock and restricted stock units are subject to performance conditions. The accrual for stock-based compensation for performance awards is based on the Company&amp;#8217;s estimates that such performance criteria are probable of being achieved. Such a determination involves significant judgment surrounding the Company&amp;#8217;s ability to maintain regulatory compliance. If the performance targets are not reached during the vesting period, or it is determined it is more likely than not that the performance criteria will not be achieved, related compensation expense is adjusted. The following table sets forth the amount of stock-based compensation expense recorded in each of the expense line items (in thousands):&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;&lt;font style="font-size: 10pt;"&gt;For&amp;#160;the&amp;#160;three&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;&lt;font style="font-size: 10pt;"&gt;For&amp;#160;the&amp;#160;nine&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 815px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Instruction and educational support&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;619&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,314&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,532&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;Marketing&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align:
 left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align:
 left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Admissions advisory&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;General and administration&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,145&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,034&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5,744&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;6,044&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-left: 20pt; text-indent: -10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Stock-based compensation expense included in operating expense&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,551&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,653&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;7,058&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;7,576&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Tax benefit&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,048&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size:
 10pt;"&gt;2,809&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td
 style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,990&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Stock-based compensation expense, net of income tax&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,536&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,605&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;4,249&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;4,586&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;During the nine months ended September 30, 2014 and 2015, the Company recognized a tax shortfall related to share-based payment arrangements of $1.8 million and $25,000, respectively. No stock options were exercised during the nine months ended September 30, 2014 or 2015.&lt;/font&gt;&lt;/p&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
<stra:OtherLiabilitiesNonCurrentDisclosureTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;7.&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Other Long-Term Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Other long-term liabilities consist of the following (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;December&amp;#160;31, 2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;September&amp;#160;30, &amp;#160;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1191px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Loss on facilities not in use&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;21,280&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;17,414&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred revenue, net of current portion&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;9,654&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;10,721&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred rent and other facility costs&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;8,646&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;8,713&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred payments related to acquisition&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5,198&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5,832&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Lease incentives&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,056&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align:
 left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td
 style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,678&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred gain on sale of campus building&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;414&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;203&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;46,248&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;45,561&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Loss on Facilities Not in Use and Deferred Rent and Other Facility Costs&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company records a liability for lease costs of campuses and non-campus facilities that are not currently in use (see Note 3). For facilities still in use, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between the rent payment and the straight-line rent expense is recorded as a liability.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Deferred Revenue&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company provides for certain scholarship and awards programs, such as the Graduation Fund (see Note 2 for additional information), that are earned by students when they successfully complete course requirements. The Company also has licensed certain of its non-credit bearing course content to a third party. Included in long-term deferred revenue is the amount of revenue under these arrangements that the
 Company expects will be realized after one year.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000;
 font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Deferred Payments Related to Acquisition&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company acquired certain assets and entered into deferred payment arrangements with one of the sellers in connection with an acquisition completed in 2011. The deferred payment arrangements are valued at approximately $2.4 million and $3.0 million as of December 31, 2014 and September 30, 2015, respectively. In addition, one of the sellers contributed $2.8 million to the Company representing the seller&amp;#8217;s continuing interest in the assets acquired.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Lease Incentives&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In conjunction with the opening of new campuses or renovating existing ones, the Company, in some instances, was reimbursed by the lessors for improvements made to the leased properties. In accordance with ASC 840-20, the underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to 10 years.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Deferred Gain on Sale of Campus Building&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In June 2007, the Company sold one of its campus buildings for $5.8 million. The Company is leasing back most of the campus building over a 10-year period. In conjunction with this sale and lease back transaction, the Company realized a gain of $2.8 million before tax, which is deferred and recognized over the 10-year lease term.&lt;/font&gt;&lt;/p&gt;</stra:OtherLiabilitiesNonCurrentDisclosureTextBlock>
<us-gaap:IncomeTaxDisclosureTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 63px; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;8.&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 1504px; padding: 0px; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Income Taxes&lt;/b&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;The Company had $2.6 million of unrecognized tax benefits at September 30, 2015, all of which resulted from tax positions taken prior to the year ended December 31, 2014. As of September 30, 2015, the Company had a liability of $0.5 million for uncertain tax positions taken during the year ended December 31, 2013. The Company also recognized approximately $0.3 million of benefits in the nine months ended September 30, 2015. The Company also recorded approximately $0.1 million of expense in the nine months ended September 30, 2015, related to interest and penalties.&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;It is reasonably possible that approximately $0.3 million of unrecognized tax benefits will be reduced in the next twelve months due to expiration of the applicable statutes of limitations. The Company does not anticipate significant changes to other unrecognized tax benefits.&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;As of September 30, 2015, approximately $0.4 million of the Company&amp;#8217;s total unrecognized tax benefits would favorably affect the Company&amp;#8217;s effective tax rate if recognized. If amounts accrued are less than amounts ultimately assessed by taxing authorities, the Company would record additional income tax expense.&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
<us-gaap:LegalMattersAndContingenciesTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 50.4px; text-align: justify; text-indent: 0px;"&gt;&lt;b&gt;9.&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 1200px; text-align: justify; text-indent: 0px;"&gt;&lt;b&gt;Litigation&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;From time to time, the Company is involved in litigation and other legal proceedings arising out of the ordinary course of its business. There are no pending material legal proceedings to which the Company or its property are subject.&lt;/p&gt;&lt;/div&gt;</us-gaap:LegalMattersAndContingenciesTextBlock>
<stra:RegulationDisclosureTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 63px; text-align: justify; text-indent: 0px;"&gt;&lt;b&gt;10.&amp;#160;&lt;/b&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 1504px; text-align: justify; text-indent: 0px;"&gt;&lt;b&gt;Regulation&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company and the University are subject to significant federal, state and regulatory oversight. The U.S. Department of Education (the &amp;#8220;Department&amp;#8221;) previously attempted to define &amp;#8220;an eligible program of training to prepare students for gainful employment in a recognized occupation.&amp;#8221; After a federal court invalidated the Department&amp;#8217;s regulation, the Department established a negotiated rulemaking committee to consider the issue of gainful employment. The negotiations did not result in the required consensus. On March 25, 2014, the Department issued a Notice of Proposed Rulemaking for public comment, and on October 31, 2014, the Department published the final regulation which became effective on July 1, 2015.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;The new requirements include two debt-to-earnings measures, consisting of an annual earnings rate and a discretionary income rate. The annual earnings rate measures student debt payments in relation to earnings, and the discretionary income rate measures student debt payments in relation to discretionary income. Under the new gainful employment regulation, a program would pass if the program&amp;#8217;s graduates:&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;have an annual earnings rate that does not exceed 8%; or&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;have a discretionary income rate that does not exceed 20%.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;In addition, a program that does not pass either of the debt-to-earnings metrics, and that has an annual earnings rate between 8% and 12%, or a discretionary income rate between 20% and 30%, would be considered to be in a warning zone. A program would fail if the program&amp;#8217;s graduates have an annual earnings rate of 12% or greater and a discretionary income rate of 30% or greater. A program would become Title IV-ineligible for three years if it fails both metrics for two out of three consecutive years, or fails to pass at least one metric for four consecutive award years.&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in;
 letter-spacing: normal; word-spacing:
 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;If an institution is notified by the Secretary of Education that a program could become ineligible, based on its final rates, for the next award year:&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;the institution must provide a warning with respect to the program to students and prospective students indicating, among other things, that students may not be able to use Title IV funds to attend or continue in the program; and&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;the institution must not enroll, register or enter into a financial commitment with a prospective student until a specified time after providing the warning to the prospective student.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;The new regulation also requires institutions to report student and program level data to the Department, and comply with additional disclosure requirements, beginning in January 2017.&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;"&gt;The University timely submi&lt;/font&gt;tted the required reporting in July and September 2015. On October 9, 2015, the Department of Education notified the University that it was not in full compliance with reporting requirements for gainful employment programs and thus no decisions on new programs or locations will be issued. Although the University had timely reported all information for gainful employment programs, the Department did not recognize the submissions as complete due to erroneous academic program codes in the Common Origination and Disbursement system. The University has remediated the errors.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In addition, the gainful employment regulation requires institutions to certify by December 31, 2015, among other things, that each eligible gainful employment program is programmatically accredited if required by a federal governmental entity or a state governmental entity in the state in which it is located or is otherwise required to obtain state approval. The institution must also certify that each eligible program satisfies the applicable educational prerequisites for professional licensure or certification requirements in each state in which it is located or is otherwise required to obtain
 state approval, so that a student who completes the program
 and
 seeks employment in that state qualifies to take any licensure or certification exam that is needed for the student to practice or find employment in an occupation that the program prepares students to enter.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The requirements associated with the gainful employment regulations will substantially increase the Company&amp;#8217;s administrative burdens and could affect the University&amp;#8217;s student enrollment, persistence and retention. Further, although the regulations provide opportunities for an institution to correct any potential deficiencies in a program prior to the loss of Title IV eligibility, the continuing eligibility of the University&amp;#8217;s academic programs will be affected by factors beyond management&amp;#8217;s control such as changes in graduates&amp;#8217; income levels, changes in student borrowing levels, increases in interest rates, changes in the percentage of former students who are current in the repayment of their student loans, and various other factors. Even if the Company were able to correct any deficiency in the gainful employment metrics in a timely manner, the disclosure requirements associated with a program&amp;#8217;s failure to pass at least one metric may adversely affect student enrollments in that program and may adversely affect the reputation of the University.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In November 2014, two organizations filed separate lawsuits against the Department in federal courts seeking to have the new regulation invalidated. Both suits alleged that the Department exceeded its statutory authority in promulgating the regulation, that the regulation violates the institutions&amp;#8217; constitutional rights, and that the regulation is arbitrary and capricious. In both cases, the courts dismissed the lawsuits, upholding the regulation.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The University must comply with the campus safety and security reporting requirements as well as other requirements in the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, or Clery Act, including recent changes made to the Clery Act by the Violence Against Women Reauthorization Act of 2013, and the Department subsequently promulgated regulations implementing the recent amendments to the Clery Act. In addition, the Department has interpreted Title IX of the Education Amendments of 1972, or Title IX, to categorize sexual violence as a form of prohibited sex discrimination and to require institutions to follow certain disciplinary procedures with respect to such offenses. Failure to comply with the Clery Act or Title IX requirements or regulations thereunder could result in action by the Department to require corrective action, fine the Company or limit or suspend its participation in Title IV programs, could lead to litigation, and could harm the Company&amp;#8217;s reputation.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The University is subject to announced and unannounced compliance reviews and audits by various external agencies, including the Department, its Office of Inspector General, state licensing agencies, and accrediting agencies. The Department conducted four campus-based program reviews of University campuses in three states and the District of Columbia during the third quarter of 2014, and two of the reviews also covered compliance with the Clery Act, the Drug-Free Schools and Communities Act, and regulations related thereto. The Department issued an Expedited Final Program Review Determination Letter for one of the program reviews, closing the program review with no further action required by the Company. The Company received a Program Review Report for another program review and provided a response to the Department, following which the Company received a Final Program Review Determination letter, closing the review with no further action required by the Company. On March 24, 2015, the Company received a Program Review Report for another program review, and provided a response to the Department on April 21, 2015. On April 29, 2015, the Company received a Final Program Review Determination Letter closing the review and identifying a payment of less than $500 due to the Department of Education based on an underpayment on a return to Title IV calculation. The Company remitted payment, and received a letter from the Department on May 26, 2015, indicating that no further action was required and that the matter was closed. On September 15, 2015, the Company received a Program Review report for the final program review, and provided a response to the Department on October 5, 2015. The Company has yet to receive a Final Program Review Determination letter.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman',
 times, serif; margin: 0px; text-align: justify; color: #000000;
 text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Each institution participating in Title IV programs must enter into a Program Participation Agreement with the Department. Under the agreement, the institution agrees to follow the Department&amp;#8217;s rules and regulations governing Title IV programs. On October 1, 2014, the University received an executed provisional Program Participation Agreement from the Department allowing it to participate in Title IV programs until June 30, 2017. The Program Participation Agreement was issued on a provisional basis because of the Department&amp;#8217;s open program reviews. Under the provisional agreement, the only material additional condition with which the University must comply is obtaining Department approval for substantial changes, including the addition of any new location, level of academic offering, non-degree program, or degree program.&lt;/p&gt;</stra:RegulationDisclosureTextBlock>
<us-gaap:ConsolidationPolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Financial Statement Presentation&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The consolidated financial statements include the accounts of the Company and its only subsidiary, the University. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;All information as of December&amp;#160;31, 2014 and September&amp;#160;30, 2014 and 2015, and for the three and nine months ended September 30, 2014 and 2015 is unaudited but, in the opinion of management, contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the condensed consolidated financial position, results of operations, and cash flows of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company&amp;#8217;s Annual Report on Form 10-K for the fiscal year ended December&amp;#160;31, 2014. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the full fiscal year.&lt;/p&gt;</us-gaap:ConsolidationPolicyTextBlock>
<us-gaap:RevenueRecognitionSalesOfServices contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Revenue Recognition&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&amp;#8217;s quarterly financial reporting periods. Approximately 96% of the Company&amp;#8217;s revenues during the nine months ended September 30, 2015 consisted of tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&amp;#8217;s ability to pay, including the timing of a student&amp;#8217;s withdrawal from a program of study.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. The estimated value of scholarship awards which will be realized in the future is deducted from revenue when earned, and is based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&amp;#8217;s academic terms coincide with its financial reporting periods, all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&amp;#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.&lt;/p&gt;&lt;/div&gt;</us-gaap:RevenueRecognitionSalesOfServices>
<stra:GraduationFundPolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Graduation Fund&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&amp;#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&amp;#8217;s admission requirements and not be eligible for any previously offered scholarship program. The Company&amp;#8217;s employees and their dependents are not eligible for the program. To maintain eligibility, students must be enrolled in an undergraduate degree program and students become ineligible to participate in the Graduation Fund if they have more than one consecutive term of non-attendance. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company allocates the value of benefits estimated to be earned evenly to each of the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&amp;#8217;s estimate of the benefits that will be earned in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $9.4 million and is included in deferred revenue within total current liabilities in the unaudited condensed consolidated balance sheets.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The table below presents activity in the Graduation Fund for the nine months ended September 30, 2015 (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1379px; font-size: 10pt;"&gt;Balance at December 31, 2014&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;9,706&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Revenue deferred&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;12,423&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr
 style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -29.7pt; padding-left: 29.7pt;"&gt;Benefit redeemed&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(3,974&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt; text-indent: -19.8pt; padding-left: 29.7pt;"&gt;Balance at September 30, 2015&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;18,155&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&amp;#160;&lt;/div&gt;</stra:GraduationFundPolicyTextBlock>
<us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Restricted Cash&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;A significant portion of the Company&amp;#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. At December 31, 2014 and September 30, 2015, the Company had approximately $0.2 million and $0.7 million of these unpaid obligations, respectively, which are recorded as restricted cash and included in other current assets.&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &amp;#8220;minimum protective endowment&amp;#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.&lt;/font&gt;&lt;/p&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
<us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Tuition Receivable and Allowance for Doubtful Accounts&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. Therefore, at the end of the quarter (and academic term), tuition receivable represents amounts due from students for educational services already provided and deferred revenue represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University&amp;#8217;s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates incorporate historical performance based on a student&amp;#8217;s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The Company&amp;#8217;s tuition receivable and allowance for doubtful accounts were as follows (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/p&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;September 30,&lt;/b&gt;&lt;/p&gt;&lt;p style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin: 0px; text-align: center;"&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1191px; font-size: 10pt; text-align: left;"&gt;Tuition receivable&lt;/td&gt;&lt;td
 style="width:
 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 142px; font-size: 10pt; text-align: right;"&gt;25,777&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;26,840&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt;"&gt;Allowance for doubtful accounts&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(8,835&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(9,776&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; padding-left: 9.9pt;"&gt;Tuition receivable, net&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;16,942&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;17,064&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;&amp;#160;&amp;#160;&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Additionally, approximately $1.6 million and $1.9 million of tuition receivable is included in other assets as of December 31, 2014 and September 30, 2015, respectively, because these amounts are expected to be collected after 12 months.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;The following table illustrates changes in the Company&amp;#8217;s allowance for doubtful accounts for the quarters ended (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; line-height: 15.3333px; margin: 0px; text-align: justify;"&gt;&lt;/p&gt;&lt;table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For the three months&amp;#160;&lt;br /&gt;ended September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt;
 line-height: normal;
 font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For the nine months&amp;#160;&lt;br /&gt;ended September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 788.609px; font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt;"&gt;Allowance for doubtful accounts, beginning of period&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 142px; font-size: 10pt; text-align: right;"&gt;9,144&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 142px; font-size: 10pt; text-align: right;"&gt;8,733&lt;/td&gt;&lt;td style="width: 16px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;10,303&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 141px; font-size: 10pt; text-align: right;"&gt;8,835&lt;/td&gt;&lt;td style="width: 15px; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt;"&gt;Additions charged to expense&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;3,652&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;2,293&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;12,255&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: right;"&gt;9,315&lt;/td&gt;&lt;td style="font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt;"&gt;Write-offs, net of recoveries&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(4,228&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(1,250&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(13,990&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;"&gt;(8,374&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -40.5pt; padding-left: 49.5pt;"&gt;Allowance for doubtful accounts, end of period&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;8,568&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom:
 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td
 style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;9,776&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;8,568&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;"&gt;9,776&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&amp;#160;&lt;/div&gt;</us-gaap:ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy>
<us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Fair Value&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Fair Value Measurement Topic, ASC 820-10 (&amp;#8220;ASC 820-10&amp;#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="width: 0.25in;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding: 0px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company&amp;#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.&lt;/p&gt;&lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
<us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Goodwill and Indefinite-Lived Intangible Assets&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include an acquired trade name,&amp;#160;are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Goodwill and the indefinite-lived intangible assets are assessed at least annually for impairment as of September 30 of each year, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&amp;#160;&lt;i&gt;Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment&lt;/i&gt;, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed at September 30, 2015.&lt;/p&gt;&lt;/div&gt;</us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock>
<us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Accounting for Derivative Instruments and Hedging Activities&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a)&amp;#160;a forecasted transaction or (b)&amp;#160;the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&amp;#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.&lt;/p&gt;&lt;/div&gt;</us-gaap:DerivativesMethodsOfAccountingHedgingDerivatives>
<stra:AuthorizedStockPolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Authorized Stock&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company has authorized 20,000,000 shares of common stock, par value $0.01, of which 10,903,341 and 11,028,265 shares were issued and outstanding as of December&amp;#160;31, 2014 and September 30, 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.&lt;/p&gt;&lt;/div&gt;</stra:AuthorizedStockPolicyTextBlock>
<us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Stock-Based Compensation&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&amp;#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the unaudited condensed consolidated statements of income for the three and nine months ended September 30, 2014 and 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise, if necessary, the estimate in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.&lt;/p&gt;&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
<us-gaap:EarningsPerSharePolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;i&gt;Net Income Per Share&lt;/i&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company&amp;#8217;s common stock: (1)&amp;#160;the proceeds received from the exercise of stock options, (2)&amp;#160;the amount of compensation cost associated with the stock awards for future service not yet recognized by the Company, and (3)&amp;#160;the amount of tax benefits that would be recorded in additional paid-in capital when the stock awards become deductible for income tax purposes. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period.&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share (in thousands):&lt;/font&gt;&lt;/p&gt;&lt;p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For&amp;#160;the&amp;#160;three&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For&amp;#160;the&amp;#160;nine&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 801.672px; text-indent: -10pt; padding-left: 10pt;"&gt;Weighted average shares outstanding used to compute basic earnings per share&lt;/td&gt;&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;10,571&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 142px; text-align: right;"&gt;10,593&lt;/td&gt;&lt;td style="width: 16px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;10,555&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 141px; text-align: right;"&gt;10,586&lt;/td&gt;&lt;td style="width: 15px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;
 text-indent: -10pt; padding-left: 10pt;"&gt;Unvested restricted
 stock&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;92&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;143&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;67&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; text-align: right;"&gt;140&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify; padding-bottom: 4pt; text-indent: -10pt; padding-left: 20pt;"&gt;Shares used to compute diluted earnings per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,663&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,736&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,622&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;"&gt;10,726&lt;/td&gt;&lt;td style="padding-bottom: 4pt; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div&gt;&amp;#160;&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
<us-gaap:IncomeTaxPolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Income Taxes&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The Income Taxes Topic, ASC 740, requires the Company to determine whether uncertain tax positions should be recognized within the Company&amp;#8217;s financial statements. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The tax years 2011-2014 remain open to examination by various taxing jurisdictions in which the Company is subject.&lt;/p&gt;&lt;/div&gt;</us-gaap:IncomeTaxPolicyTextBlock>
<us-gaap:UseOfEstimates contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/15.33px 'times new roman', times, serif; margin: 0px 0px 10pt; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Use of Estimates&lt;/i&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates include allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.&lt;/p&gt;&lt;/div&gt;</us-gaap:UseOfEstimates>
<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;i&gt;Recent Accounting Pronouncements&lt;/i&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In May 2014, the FASB issued ASU No. 2014-09, &amp;#8220;Revenue from Contracts with Customers (Topic 606)&amp;#8221; (&amp;#8220;ASU 2014-09&amp;#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 was recently amended to defer the effective date to fiscal years beginning after December 15, 2017, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&amp;#160;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;In April 2015, the FASB issued ASU No. 2015-03, &amp;#8220;Interest - Imputation of Interest (Subtopic 835-30)&amp;#8221; (&amp;#8220;ASU 2015-03&amp;#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.&lt;/p&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
<stra:ScheduleOfGraduationFundLiabilityTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1100.8px; font-size: 10pt;"&gt;Balance at December 31, 2014&lt;/td&gt;&lt;td style="width: 12.8px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-size: 10pt;"&gt;9,706&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -29.7pt; padding-left: 29.7pt; font-size: 10pt;"&gt;Revenue deferred&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt;"&gt;12,423&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; text-indent: -29.7pt; padding-bottom: 1.5pt; padding-left: 29.7pt; font-size: 10pt;"&gt;Benefit redeemed&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(3,974&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-indent: -19.8pt; padding-bottom: 4pt; padding-left: 29.7pt; font-size: 10pt;"&gt;Balance at September 30, 2015&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;18,155&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;/div&gt;</stra:ScheduleOfGraduationFundLiabilityTableTextBlock>
<us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;b&gt;December 31,&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;b&gt;September 30,&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 950.4px; text-align: left; font-size: 10pt;"&gt;Tuition receivable&lt;/td&gt;&lt;td style="width: 12.8px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; font-size: 10pt;"&gt;25,777&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-size: 10pt;"&gt;26,840&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;Allowance for doubtful accounts&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(8,835&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(9,776&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 9.9pt; font-size: 10pt;"&gt;Tuition receivable, net&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;16,942&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;17,064&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
<stra:ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="6"&gt;For the three months&amp;#160;&lt;br /&gt;ended September 30,&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="6"&gt;For the nine months&amp;#160;&lt;br /&gt;ended September 30,&lt;/td&gt;&lt;td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 624px; text-align: left; text-indent: -19.8pt; padding-left: 19.8pt; font-size: 10pt;"&gt;Allowance for doubtful accounts, beginning of period&lt;/td&gt;&lt;td style="width: 12.8px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; font-size: 10pt;"&gt;9,144&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; font-size: 10pt;"&gt;8,733&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-size: 10pt;"&gt;10,303&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-size: 10pt;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-size: 10pt;"&gt;8,835&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -19.8pt; padding-left: 19.8pt; font-size: 10pt;"&gt;Additions charged to expense&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt;"&gt;3,652&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt;"&gt;2,293&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt;"&gt;12,255&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt;"&gt;9,315&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-indent: -19.8pt; padding-bottom: 1.5pt; padding-left: 19.8pt; font-size: 10pt;"&gt;Write-offs, net of recoveries&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(4,228&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(1,250&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(13,990&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(8,374&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -40.5pt; padding-bottom: 4pt;
 padding-left: 49.5pt; font-size: 10pt;"&gt;Allowance for doubtful accounts, end of
 period&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;8,568&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;9,776&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;8,568&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-size: 10pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;9,776&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</stra:ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock>
<us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For&amp;#160;the&amp;#160;three&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;For&amp;#160;the&amp;#160;nine&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 637.07px; text-indent: -10pt; padding-left: 10pt;"&gt;Weighted average shares outstanding used to compute basic earnings per share&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;10,571&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;10,593&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;10,555&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;10,586&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; text-indent: -10pt; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;Unvested restricted stock&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;92&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;143&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;67&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;140&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify; text-indent: -10pt; padding-bottom: 4pt; padding-left: 20pt;"&gt;Shares used to compute diluted earnings per share&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;10,663&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;10,736&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;10,622&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;10,726&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
<us-gaap:ScheduleOfRestructuringReserveByTypeOfCostTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1100.8px;"&gt;&lt;font style="font: 10pt/normal 'times new roman', serif; font-stretch: normal;"&gt;Balance at December 31, 2014&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;27,283&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td&gt;&lt;font style="font: 10pt/normal 'times new roman', serif; font-stretch: normal;"&gt;Non-cash adjustments&lt;sup&gt;(2)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;265&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;Payments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(5,040&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;)&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-indent: -11pt; padding-bottom: 4pt; padding-left: 20pt;"&gt;&lt;font style="font: 10pt/normal 'times new roman', serif; font-stretch: normal;"&gt;Balance at September 30, 2015&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;22,508&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;div align="left" style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;div style="width: 312.6px; font-size: 1pt; border-top-color: black; border-top-width: 1.5pt; border-top-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 63.2px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 1187.2px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;The current portion of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities in the unaudited condensed consolidated balance sheets.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;sup&gt;(2)&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;Non-cash adjustments for lease and related costs&amp;#160;include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfRestructuringReserveByTypeOfCostTextBlock>
<us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="10"&gt;Fair&amp;#160;Value&amp;#160;Measurements&amp;#160;at&amp;#160;Reporting&amp;#160;Date&amp;#160;Using&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;September&amp;#160;30, 2015&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Quoted&amp;#160;Prices in Active Markets&amp;#160;for Identical Assets/ Liabilities&lt;br /&gt;(Level&amp;#160;1)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Significant Other Observable Inputs&lt;br /&gt;(Level&amp;#160;2)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Significant Unobservable Inputs (Level&amp;#160;3)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;Assets:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;Cash equivalents:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td colspan="2"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 637.07px; text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; font-family: 'times new roman', serif;"&gt;Money market funds&lt;/td&gt;&lt;td style="width: 12.8px; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;100&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;100&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -2pt; padding-bottom: 4pt; padding-left: 20pt; font-family: 'times new roman', serif;"&gt;Total assets at fair value on a recurring basis&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;100&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;100&lt;/td&gt;&lt;td style="text-align: left;
 padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td
 style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;Liabilities:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;Other liabilities:&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt; font-family: 'times new roman', serif;"&gt;Deferred payments&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; text-indent: -2pt; padding-bottom: 4pt; padding-left: 20pt; font-family: 'times new roman', serif;"&gt;Total liabilities at fair value on a recurring basis&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#8212;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style:
 double;"&gt;3,032&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new
 roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&amp;#160;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="10"&gt;&lt;font style="font-size: 10pt;"&gt;Fair&amp;#160;Value&amp;#160;Measurements&amp;#160;at&amp;#160;Reporting&amp;#160;Date&amp;#160;Using&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;December 31, 2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Quoted&amp;#160;Prices in Active Markets&amp;#160;for Identical Assets/ Liabilities&lt;br /&gt;(Level&amp;#160;1)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Significant Other Observable Inputs&lt;br /&gt;(Level&amp;#160;2)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Significant Unobservable Inputs&lt;br /&gt;(Level&amp;#160;3)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;Assets:&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;Cash equivalents:&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 637.07px; text-align: left; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Money market funds&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;8,275&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;8,275&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Interest rate swap&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black;
 border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font
 style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 20pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Total assets at fair value on a recurring basis&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;8,418&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;8,275&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;143&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;Liabilities:&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Other liabilities:&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred payments&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color:
 black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom:
 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 20pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Total liabilities at fair value on a recurring basis&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
<us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Deferred&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;b&gt;Payments&lt;/b&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 1100.8px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance at December&amp;#160;31, 2014&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,398&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Amounts earned&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;(534&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;)&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Adjustments to fair value&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,168&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Transfers in or out of Level 3&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify; padding-bottom: 4pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance at September 30, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;3,032&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
<us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal calibri, helvetica, sans-serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Number&amp;#160;&lt;br /&gt;of&amp;#160;shares&amp;#160;&lt;br /&gt;or units&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: center; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;Weighted-&amp;#160;&lt;br /&gt;average&lt;br /&gt;grant&amp;#160;&lt;br /&gt;price&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 950.4px; text-align: justify; font-family: 'times new roman', serif;"&gt;Balance, December 31, 2014&lt;/td&gt;&lt;td style="width: 12.8px; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right; font-family: 'times new roman', serif;"&gt;524,216&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12.8px; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-family: 'times new roman', serif;"&gt;$&lt;/td&gt;&lt;td style="width: 112px; text-align: right; font-family: 'times new roman', serif;"&gt;115.67&lt;/td&gt;&lt;td style="width: 12px; text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-left: 0pt; font-family: 'times new roman', serif;"&gt;Grants&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif;"&gt;126,655&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif;"&gt;61.00&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify; padding-left: 0pt; font-family: 'times new roman', serif;"&gt;Vested shares&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif;"&gt;(13,725&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;)&lt;/td&gt;&lt;td style="font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif;"&gt;52.94&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt; padding-left: 0pt; font-family: 'times new roman', serif;"&gt;Forfeitures&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;(1,731&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;115.55&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify; text-indent: 9pt; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;Balance, September 30, 2015&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;635,415&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&amp;#160;&lt;/td&gt;&lt;td style="text-align: left; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;$&lt;/td&gt;&lt;td style="text-align: right; font-family: 'times new roman', serif; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;104.64&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt; font-family: 'times new roman', serif;"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock>
<us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Number&amp;#160;of&amp;#160;&lt;br /&gt;shares&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Weighted-average exercise&amp;#160;price&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;Weighted-average remaining&amp;#160;&lt;br /&gt;contractual&amp;#160;&lt;br /&gt;life&amp;#160;(years)&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;Aggregate intrinsic&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;value&lt;sup&gt;(1)&lt;/sup&gt;&lt;/font&gt;&lt;/p&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"&gt;&lt;font style="font-size: 10pt;"&gt;(in&amp;#160;thousands)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 650.4px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance, December&amp;#160;31, 2014&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;100,000&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;51.95&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;6.0&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,233&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Grants&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Exercises&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Forfeitures/Expirations&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size:
 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width:
 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="padding-bottom: 4pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Balance, September 30, 2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;100,000&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;51.95&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;5.3&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Exercisable, September 30, 2015&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;100,000&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;51.95&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5.3&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;302&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;div align="left" style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"&gt;&lt;div style="width: 312.6px; font-size: 1pt; border-top-color: black; border-top-width: 1.5pt; border-top-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0"
 cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 50.4px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size:
 10pt;"&gt;&lt;sup&gt;(1)&amp;#160;&amp;#160;&lt;/sup&gt;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 1200px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-size: 10pt;"&gt;The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&amp;#8217;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&amp;#8217;s common stock.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
<us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;&lt;font style="font-size: 10pt;"&gt;For&amp;#160;the&amp;#160;three&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6"&gt;&lt;font style="font-size: 10pt;"&gt;For&amp;#160;the&amp;#160;nine&amp;#160;months&amp;#160;&lt;br /&gt;ended&lt;br /&gt;September 30,&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 650.4px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Instruction and educational support&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;406&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;619&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,314&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,532&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;Marketing&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;Admissions advisory&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size:
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 white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;General and administration&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2,145&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2,034&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;5,744&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;6,044&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; text-indent: -10pt; padding-left: 20pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Stock-based compensation expense included in operating expense&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,551&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,653&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;7,058&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;7,576&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Tax benefit&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;1,015&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;1,048&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2,809&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;2,990&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: left; padding-bottom: 4pt; padding-left: 10pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Stock-based compensation expense, net of income tax&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;1,536&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black;
 border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;1,605&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font
 style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;4,249&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;4,586&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
<us-gaap:OtherNoncurrentLiabilitiesTableTextBlock contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: bottom;"&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;December&amp;#160;31, 2014&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"&gt;&lt;font style="font-size: 10pt;"&gt;September&amp;#160;30, &amp;#160;2015&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="width: 950.4px; text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Loss on facilities not in use&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112.8px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;21,280&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12.8px;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 112px; text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;17,414&lt;/font&gt;&lt;/td&gt;&lt;td style="width: 12px; text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred revenue, net of current portion&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;9,654&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;10,721&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred rent and other facility costs&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;8,646&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;8,713&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred payments related to acquisition&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5,198&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;5,832&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="text-align: justify;"&gt;&lt;font style="font-size: 10pt;"&gt;Lease incentives&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;1,056&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right;"&gt;&lt;font style="font-size: 10pt;"&gt;2,678&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: white;"&gt;&lt;td style="text-align: justify; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;Deferred gain on sale of campus building&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;414&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"&gt;&lt;font style="font-size: 10pt;"&gt;203&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 1.5pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr style="vertical-align: bottom; background-color: #cceeff;"&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font
 style="font-size: 10pt;"&gt;46,248&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom:
 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;$&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;"&gt;&lt;font style="font-size: 10pt;"&gt;45,561&lt;/font&gt;&lt;/td&gt;&lt;td style="text-align: left; padding-bottom: 4pt;"&gt;&lt;font style="font-size: 10pt;"&gt;&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:OtherNoncurrentLiabilitiesTableTextBlock>
<us-gaap:NumberOfReportableSegments contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="Segments" decimals="INF">1</us-gaap:NumberOfReportableSegments>
<stra:GraduationFundLiability contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">9706000</stra:GraduationFundLiability>
<stra:GraduationFundLiability contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">18155000</stra:GraduationFundLiability>
<stra:RevenueDeferred contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">12423000</stra:RevenueDeferred>
<stra:BenefitRedeemed contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">-3974000</stra:BenefitRedeemed>
<us-gaap:AccountsReceivableGrossCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">25777000</us-gaap:AccountsReceivableGrossCurrent>
<us-gaap:AccountsReceivableGrossCurrent contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">26840000</us-gaap:AccountsReceivableGrossCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="USD" decimals="-3">10303000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_30_Jun_2014T00_00_00_TO_30_Jun_2014T00_00_00" unitRef="USD" decimals="-3">9144000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_30_Sep_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">8568000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">8835000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_30_Jun_2015T00_00_00_TO_30_Jun_2015T00_00_00" unitRef="USD" decimals="-3">8733000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">9776000</us-gaap:AllowanceForDoubtfulAccountsReceivableCurrent>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_3ME_01_Jul_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">3652000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_9ME_01_Jan_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">12255000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_3ME_01_Jul_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">2293000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:ProvisionForDoubtfulAccounts contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">9315000</us-gaap:ProvisionForDoubtfulAccounts>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_3ME_01_Jul_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">4228000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_9ME_01_Jan_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">13990000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_3ME_01_Jul_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">1250000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">8374000</us-gaap:AllowanceForDoubtfulAccountsReceivableWriteOffs>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_3ME_01_Jul_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="shares" decimals="-3">92000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_9ME_01_Jan_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="shares" decimals="-3">67000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_3ME_01_Jul_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="shares" decimals="-3">143000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="shares" decimals="-3">140000</us-gaap:IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends>
<stra:PercentageOfTuitionRevenueInRevenue contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="pure" decimals="2">0.96</stra:PercentageOfTuitionRevenueInRevenue>
<stra:UnusedBooksAndAcademicMaterialRefundablePeriod contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">P21D</stra:UnusedBooksAndAcademicMaterialRefundablePeriod>
<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">200000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-5">700000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
<us-gaap:AccountsReceivableNetNoncurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">1600000</us-gaap:AccountsReceivableNetNoncurrent>
<us-gaap:AccountsReceivableNetNoncurrent contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-5">1900000</us-gaap:AccountsReceivableNetNoncurrent>
<stra:ExpectedCollectionPeriodOfTuitionReceivable contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">After 12 months</stra:ExpectedCollectionPeriodOfTuitionReceivable>
<us-gaap:RestrictedCashAndCashEquivalentsNoncurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">500000</us-gaap:RestrictedCashAndCashEquivalentsNoncurrent>
<us-gaap:PreferredStockSharesAuthorized contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="shares" decimals="INF">8000000</us-gaap:PreferredStockSharesAuthorized>
<us-gaap:PreferredStockSharesIssued contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" xsi:nil="true"/>
<us-gaap:PreferredStockSharesOutstanding contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="shares" xsi:nil="true"/>
<us-gaap:IncomeTaxExaminationDescription contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.</us-gaap:IncomeTaxExaminationDescription>
<stra:EstimatedGraduationFundToBeRedeemedNextTwelveMonths contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-5">9400000</stra:EstimatedGraduationFundToBeRedeemedNextTwelveMonths>
<us-gaap:GoodwillAndIntangibleAssetImpairment contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" xsi:nil="true"/>
<us-gaap:RestructuringReserve contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3" id="Footnote-1_1">27283000</us-gaap:RestructuringReserve>
<us-gaap:RestructuringReserve contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3" id="Footnote-1_2">22508000</us-gaap:RestructuringReserve>
<stra:RestructruingReserveAccrualAdjustmentsSettledIncurred contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3" id="Footnote-2_1">265000</stra:RestructruingReserveAccrualAdjustmentsSettledIncurred>
<us-gaap:PaymentsForRestructuring contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">-5040000</us-gaap:PaymentsForRestructuring>
<us-gaap:RestructuringReserveCurrent contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-5">6000000</us-gaap:RestructuringReserveCurrent>
<us-gaap:RestructuringReserveCurrent contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-5">5100000</us-gaap:RestructuringReserveCurrent>
<stra:CampusLocationClosed contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00" unitRef="Campus" decimals="INF">20</stra:CampusLocationClosed>
<us-gaap:ContractualObligation contextRef="Context_As_Of_31_Dec_2013T00_00_00_TO_31_Dec_2013T00_00_00_RestructuringCostAndReserveAxis_LeaseAndRelatedCostsMember" unitRef="USD" decimals="-5">36000000</us-gaap:ContractualObligation>
<stra:LeaseTermExpire contextRef="Context_FYE_01_Jan_2013T00_00_00_TO_31_Dec_2013T00_00_00">2022</stra:LeaseTermExpire>
<stra:MarginalBorrowingRateOfLease contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="pure" decimals="3">0.045</stra:MarginalBorrowingRateOfLease>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">8418000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" decimals="-3">8275000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FinancialInstrumentAxis_InterestRateSwapMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FinancialInstrumentAxis_InterestRateSwapMember" unitRef="USD" decimals="-3">143000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="USD" decimals="-3">8275000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member" unitRef="USD" decimals="-3">143000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" decimals="-3">8275000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FinancialInstrumentAxis_InterestRateSwapMember" unitRef="USD" decimals="-3">143000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FinancialInstrumentAxis_InterestRateSwapMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">100000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" decimals="-3">100000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FinancialInstrumentAxis_InterestRateSwapMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="USD" decimals="-3">100000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member" unitRef="USD" xsi:nil="true"/>
<us-gaap:AssetsFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FinancialInstrumentAxis_MoneyMarketFundsMember" unitRef="USD" decimals="-3">100000</us-gaap:AssetsFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00" unitRef="USD" decimals="-3">2398000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">2398000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">2398000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">2398000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">3032000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel2Member_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">3032000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel1Member" unitRef="USD" xsi:nil="true"/>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByFairValueHierarchyLevelAxis_FairValueInputsLevel3Member" unitRef="USD" decimals="-3">3032000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:LiabilitiesFairValueDisclosureRecurring contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FinancialInstrumentAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">3032000</us-gaap:LiabilitiesFairValueDisclosureRecurring>
<us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByLiabilityClassAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">2398000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
<us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByLiabilityClassAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">3032000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
<us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByLiabilityClassAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">534000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements>
<us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByLiabilityClassAxis_DeferredPaymentsMember" unitRef="USD" decimals="-3">1168000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease>
<us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByLiabilityClassAxis_DeferredPaymentsMember" unitRef="USD" xsi:nil="true"/>
<us-gaap:GoodwillFairValueDisclosure contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsNonrecurringMember" unitRef="USD" decimals="-5">6800000</us-gaap:GoodwillFairValueDisclosure>
<us-gaap:GoodwillFairValueDisclosure contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsNonrecurringMember" unitRef="USD" decimals="-5">6800000</us-gaap:GoodwillFairValueDisclosure>
<us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsNonrecurringMember" unitRef="USD" decimals="-5">1600000</us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure>
<us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_FairValueByMeasurementFrequencyAxis_FairValueMeasurementsNonrecurringMember" unitRef="USD" decimals="-5">1600000</us-gaap:IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure>
<stra:DeferredPaymentArrangementNumberOfSellers contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="Sellers" decimals="INF">1</stra:DeferredPaymentArrangementNumberOfSellers>
<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="Context_As_Of_02_Jul_2015T00_00_00_TO_02_Jul_2015T00_00_00" unitRef="USD" decimals="-5">150000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
<stra:MaximumAggregateIncrementalTermLoans contextRef="Context_As_Of_02_Jul_2015T00_00_00_TO_02_Jul_2015T00_00_00" unitRef="USD" decimals="-6">50000000</stra:MaximumAggregateIncrementalTermLoans>
<us-gaap:LineOfCreditFacilityExpirationDate1 contextRef="Context_Custom_26_Jun_2015T00_00_00_TO_02_Jul_2015T00_00_00">2020-07-02</us-gaap:LineOfCreditFacilityExpirationDate1>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_RangeAxis_MinimumMember" unitRef="pure" decimals="4">0.0200</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_RangeAxis_MaximumMember" unitRef="pure" decimals="4">0.0250</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_DebtInstrumentAxis_RevolvingCreditFacilityMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4">0.0175</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_DebtInstrumentAxis_RevolvingCreditFacilityMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4">0.0225</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
<us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_RangeAxis_MinimumMember" unitRef="pure" decimals="4">0.0030</us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage>
<us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_RangeAxis_MaximumMember" unitRef="pure" decimals="4">0.0040</us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage>
<us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_DebtInstrumentAxis_RevolvingCreditFacilityMember_RangeAxis_MinimumMember" unitRef="pure" decimals="4">0.0025</us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage>
<us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_DebtInstrumentAxis_RevolvingCreditFacilityMember_RangeAxis_MaximumMember" unitRef="pure" decimals="4">0.0035</us-gaap:LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage>
<us-gaap:InterestPaid contextRef="Context_3ME_01_Jul_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-5">1100000</us-gaap:InterestPaid>
<us-gaap:InterestPaid contextRef="Context_9ME_01_Jan_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-5">3400000</us-gaap:InterestPaid>
<us-gaap:InterestPaid contextRef="Context_3ME_01_Jul_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-5">100000</us-gaap:InterestPaid>
<us-gaap:InterestPaid contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-5">2300000</us-gaap:InterestPaid>
<us-gaap:LineOfCreditFacilityCovenantTerms contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00">&lt;div&gt;&lt;br class="apple-interchange-newline" /&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;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).&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 397.8pt 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;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.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 397.8pt 0px 0.5in; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"&gt;&lt;tr style="vertical-align: top;"&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;/td&gt;&lt;td style="padding: 0px; width: 0.25in; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;&amp;#9679;&lt;/font&gt;&lt;/td&gt;&lt;td style="padding: 0px; text-align: justify; text-indent: 0px;"&gt;&lt;font style="font-family: 'times new roman', times, serif;"&gt;a Department of Education Financial Responsibility Composite Score of not less than 1.5.&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:LineOfCreditFacilityCovenantTerms>
<stra:MaximumLeverageRatioToBeMaintainedUnderCreditFacility contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="pure" decimals="0">2</stra:MaximumLeverageRatioToBeMaintainedUnderCreditFacility>
<stra:MinimumCoverageRatioToBeMaintainedUnderCreditFacility contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="pure" decimals="2">1.75</stra:MinimumCoverageRatioToBeMaintainedUnderCreditFacility>
<stra:MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="pure" decimals="1">1.5</stra:MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility>
<us-gaap:DebtInstrumentDescriptionOfVariableRateBasis contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_DebtInstrumentAxis_RevolvingCreditFacilityMember_VariableRateAxis_LondonInterbankOfferedRateLIBORMember">LIBOR</us-gaap:DebtInstrumentDescriptionOfVariableRateBasis>
<us-gaap:DebtInstrumentDescriptionOfVariableRateBasis contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_DebtInstrumentAxis_RevolvingCreditFacilityMember_VariableRateAxis_BaseRateMember">Base rate</us-gaap:DebtInstrumentDescriptionOfVariableRateBasis>
<us-gaap:LineOfCredit contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="0">0</us-gaap:LineOfCredit>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="0">524216</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="0">635415</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="0">126655</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="0">13725</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="shares" decimals="0">1731</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">115.67</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">104.64</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">61.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">52.94</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_RestrictedStockMember" unitRef="USD_per_Share" decimals="2">115.55</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="shares" xsi:nil="true"/>
<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="shares" decimals="INF">100000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" xsi:nil="true"/>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD_per_Share" decimals="2">51.95</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_FYE_01_Jan_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P6Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P5Y3M18D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1 contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember">P5Y3M18D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_31_Dec_2014T00_00_00_TO_31_Dec_2014T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-3" id="Footnote-3_1">2233000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-3" id="Footnote-3_2">302000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
<us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 contextRef="Context_As_Of_30_Sep_2015T00_00_00_TO_30_Sep_2015T00_00_00_AwardTypeAxis_EmployeeStockOptionMember" unitRef="USD" decimals="-3" id="Footnote-3_3">302000</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_3ME_01_Jul_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">1015000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_9ME_01_Jan_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">2809000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_3ME_01_Jul_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">1048000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">2990000</us-gaap:EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_3ME_01_Jul_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">1536000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_9ME_01_Jan_2014T00_00_00_TO_30_Sep_2014T00_00_00" unitRef="USD" decimals="-3">4249000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_3ME_01_Jul_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">1605000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="USD" decimals="-3">4586000</us-gaap:AllocatedShareBasedCompensationExpenseNetOfTax>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized contextRef="Context_9ME_01_Jan_2015T00_00_00_TO_30_Sep_2015T00_00_00" unitRef="shares" decimals="INF">500000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized>
<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized contextRef="Context_As_Of_28_Feb_2015T00_00_00_TO_28_Feb_2015T00_00_00_RelatedPartyTransactionsByRelatedPartyAxis_BoardOfDirectorsChairmanMember" unitRef="shares" decimals="INF">71991</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
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<link:footnote xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US" xlink:label="Footnote-1">The current portion of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities in the unaudited condensed consolidated balance sheets.</link:footnote>
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<DOCUMENT>
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<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_H456J84H45669KJ14908_dei_EntityFilerCategory"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_dei_EntityFilerCategory" xml:lang="en-US">Entity Filer Category</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_dei_EntityFilerCategory" xlink:to="lab_J678L06J67881ML36120_dei_EntityFilerCategory"/>
<loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_HF82J1J2G963_dei_EntityCommonStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_dei_EntityCommonStockSharesOutstanding" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_dei_EntityCommonStockSharesOutstanding" xlink:to="lab_JH04L3L4I185_dei_EntityCommonStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_StatementOfFinancialPositionAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_StatementOfFinancialPositionAbstract" xml:lang="en-US">Balance Sheets [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_StatementOfFinancialPositionAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_AssetsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AssetsAbstract" xml:lang="en-US">Assets [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AssetsAbstract" xml:lang="en-US">ASSETS</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AssetsAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_AssetsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AssetsCurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsCurrentAbstract" xml:lang="en-US">Assets, Current [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsCurrentAbstract" xml:lang="en-US">Current assets:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AssetsCurrentAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_AssetsCurrentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_HF82J1J2G963_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents - beginning of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Cash and cash equivalents - end of period</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_JH04L3L4I185_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AccountsReceivableNetCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US">Accounts Receivable, Net, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US">Tuition receivable, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableNetCurrent" xml:lang="en-US">Tuition receivable, net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AccountsReceivableNetCurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableNetCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="loc_HF82J1J2G963_us-gaap_OtherAssetsCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OtherAssetsCurrent" xml:lang="en-US">Other Assets, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherAssetsCurrent" xml:lang="en-US">Other current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherAssetsCurrent" xml:lang="en-US">Other current assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OtherAssetsCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_OtherAssetsCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AssetsCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsCurrent" xml:lang="en-US">Assets, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsCurrent" xml:lang="en-US">Total current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsCurrent" xml:lang="en-US">Total current assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AssetsCurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_AssetsCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_HF82J1J2G963_us-gaap_PropertyPlantAndEquipmentNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property and equipment, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property and equipment, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PropertyPlantAndEquipmentNet" xml:lang="en-US">Property, Plant and Equipment, Net, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_PropertyPlantAndEquipmentNet" xlink:to="lab_JH04L3L4I185_us-gaap_PropertyPlantAndEquipmentNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DeferredTaxAssetsNetNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US">Deferred Tax Assets, Net of Valuation Allowance, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US">Deferred income taxes</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredTaxAssetsNetNoncurrent" xml:lang="en-US">Long-term net deferred tax asset</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_DeferredTaxAssetsNetNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_HF82J1J2G963_us-gaap_Goodwill"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_Goodwill" xml:lang="en-US">Goodwill</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_Goodwill" xml:lang="en-US">Goodwill</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_Goodwill" xml:lang="en-US">Net carrying amount as of December 31, 2011</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_Goodwill" xml:lang="en-US">Goodwill as of December 31, 2010</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_Goodwill" xml:lang="en-US">Goodwill as of December 31, 2011</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_Goodwill" xlink:to="lab_JH04L3L4I185_us-gaap_Goodwill"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_OtherAssetsNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US">Other Assets, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US">Other assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_OtherAssetsNoncurrent" xml:lang="en-US">Other Assets, Noncurrent, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_OtherAssetsNoncurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_OtherAssetsNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="loc_HF82J1J2G963_us-gaap_Assets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_Assets" xml:lang="en-US">Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_Assets" xml:lang="en-US">Total assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_Assets" xml:lang="en-US">Total assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_Assets" xlink:to="lab_JH04L3L4I185_us-gaap_Assets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US">Liabilities and Stockholders' Equity [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xml:lang="en-US">LIABILITIES &amp; STOCKHOLDERS' EQUITY</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_LiabilitiesCurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US">Liabilities, Current [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrentAbstract" xml:lang="en-US">Current liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LiabilitiesCurrentAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xml:lang="en-US">Accounts Payable and Accrued Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xml:lang="en-US">Accounts payable and accrued expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xml:lang="en-US">Accounts Payable and Accrued Liabilities, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="loc_HF82J1J2G963_us-gaap_TaxesPayableCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_TaxesPayableCurrent" xml:lang="en-US">Taxes Payable, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_TaxesPayableCurrent" xml:lang="en-US">Income taxes payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_TaxesPayableCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_TaxesPayableCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DeferredRevenueCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred Revenue, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Unearned tuition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueCurrent" xml:lang="en-US">Deferred Revenue, Current, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DeferredRevenueCurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueCurrent"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OtherLiabilitiesCurrent" xml:lang="en-US">Other Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherLiabilitiesCurrent" xml:lang="en-US">Other current liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherLiabilitiesCurrent" xml:lang="en-US">Other current liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OtherLiabilitiesCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_OtherLiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtCurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LongTermDebtCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Long-term Debt, Current Maturities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Less: Current portion of long-term debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Current portion of term loan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Long-term Debt, Current Maturities, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtCurrent" xml:lang="en-US">Less: Current portion of long-term debt</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LongTermDebtCurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_LongTermDebtCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="loc_HF82J1J2G963_us-gaap_LiabilitiesCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Liabilities, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Total current liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrent" xml:lang="en-US">Total current liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LiabilitiesCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_LiabilitiesCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LongTermDebtNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtNoncurrent" xml:lang="en-US">Long-term debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtNoncurrent" xml:lang="en-US">Long-term debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LongTermDebtNoncurrent" xml:lang="en-US">Term loan, less current portion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LongTermDebtNoncurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_LongTermDebtNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xlink:label="loc_HF82J1J2G963_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xml:lang="en-US">Liabilities, Other than Long-term Debt, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xml:lang="en-US">Other long-term liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xml:lang="en-US">Total other long-term liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent" xlink:to="lab_JH04L3L4I185_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_H456J84H45669KJ14908_us-gaap_Liabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_Liabilities" xml:lang="en-US">Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_Liabilities" xml:lang="en-US">Total liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_Liabilities" xml:lang="en-US">Total liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_Liabilities" xlink:to="lab_J678L06J67881ML36120_us-gaap_Liabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_HF82J1J2G963_us-gaap_CommitmentsAndContingencies"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and Contingencies</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommitmentsAndContingencies" xml:lang="en-US">Commitments and contingencies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CommitmentsAndContingencies" xlink:to="lab_JH04L3L4I185_us-gaap_CommitmentsAndContingencies"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_StockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_StockholdersEquityAbstract" xml:lang="en-US">Stockholders' Equity Attributable To Parent [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_StockholdersEquityAbstract" xml:lang="en-US">Stockholders' equity:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_StockholdersEquityAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_StockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_HF82J1J2G963_us-gaap_CommonStockValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockValue" xml:lang="en-US">Common stock, par value $0.01; 20,000,000 shares authorized; 10,903,341 and 11,028,265 shares issued and outstanding at December 31, 2014 and September 30, 2015, respectively</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockValue" xml:lang="en-US">Common Stock, Value, Issued, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CommonStockValue" xlink:to="lab_JH04L3L4I185_us-gaap_CommonStockValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AdditionalPaidInCapitalCommonStock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional Paid in Capital, Common Stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdditionalPaidInCapitalCommonStock" xml:lang="en-US">Additional paid-in capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="lab_J678L06J67881ML36120_us-gaap_AdditionalPaidInCapitalCommonStock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_HF82J1J2G963_us-gaap_RetainedEarningsAccumulatedDeficit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained earnings</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsAccumulatedDeficit" xml:lang="en-US">Retained Earnings (Accumulated Deficit), Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_JH04L3L4I185_us-gaap_RetainedEarningsAccumulatedDeficit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net Of Tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated other comprehensive income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_HF82J1J2G963_us-gaap_StockholdersEquity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StockholdersEquity" xml:lang="en-US">Stockholders' Equity Attributable To Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockholdersEquity" xml:lang="en-US">Total stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockholdersEquity" xml:lang="en-US">Total stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockholdersEquity" xml:lang="en-US">Beginning balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockholdersEquity" xml:lang="en-US">Ending balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StockholdersEquity" xlink:to="lab_JH04L3L4I185_us-gaap_StockholdersEquity"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LiabilitiesAndStockholdersEquity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Total liabilities and stockholders' equity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquity" xml:lang="en-US">Total liabilities and stockholders' equity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_J678L06J67881ML36120_us-gaap_LiabilitiesAndStockholdersEquity"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_HF82J1J2G963_us-gaap_CommonStockParOrStatedValuePerShare"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common stock, par value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockParOrStatedValuePerShare" xml:lang="en-US">Common stock, par value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_JH04L3L4I185_us-gaap_CommonStockParOrStatedValuePerShare"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_H456J84H45669KJ14908_us-gaap_CommonStockSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesAuthorized" xml:lang="en-US">Common Stock, Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesAuthorized" xml:lang="en-US">Common stock, shares authorized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_HF82J1J2G963_us-gaap_CommonStockSharesIssued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common Stock, Shares, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common stock, shares issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockSharesIssued" xml:lang="en-US">Common Stock, Shares, Issued, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CommonStockSharesIssued" xlink:to="lab_JH04L3L4I185_us-gaap_CommonStockSharesIssued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_H456J84H45669KJ14908_us-gaap_CommonStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Common Stock, Shares, Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Common stock, shares outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Beginning Balance, Shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesOutstanding" xml:lang="en-US">Ending Balance, Shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_J678L06J67881ML36120_us-gaap_CommonStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_IncomeStatementAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeStatementAbstract" xml:lang="en-US">Statements of Income [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncomeStatementAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_IncomeStatementAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SalesRevenueServicesNet" xlink:label="loc_H456J84H45669KJ14908_us-gaap_SalesRevenueServicesNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Sales Revenue, Services, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Revenues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Revenues</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SalesRevenueServicesNet" xml:lang="en-US">Sales Revenue, Services, Net, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_SalesRevenueServicesNet" xlink:to="lab_J678L06J67881ML36120_us-gaap_SalesRevenueServicesNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_CostsAndExpensesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CostsAndExpensesAbstract" xml:lang="en-US">Costs and Expenses [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CostsAndExpensesAbstract" xml:lang="en-US">Costs and expenses:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CostsAndExpensesAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_CostsAndExpensesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfServices" xlink:label="loc_H456J84H45669KJ14908_us-gaap_CostOfServices"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostOfServices" xml:lang="en-US">Instruction and educational support</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_CostOfServices" xlink:to="lab_J678L06J67881ML36120_us-gaap_CostOfServices"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingAndMarketingExpense" xlink:label="loc_HF82J1J2G963_us-gaap_SellingAndMarketingExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Marketing</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Marketing</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Marketing Admissions advisory</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Selling and Marketing Expense, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpense" xml:lang="en-US">Marketing</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SellingAndMarketingExpense" xlink:to="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpense"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_AdmissionsAdvisory" xlink:label="loc_H456J84H45669KJ14908_stra_AdmissionsAdvisory"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_AdmissionsAdvisory" xml:lang="en-US">Admissions Advisory</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_AdmissionsAdvisory" xml:lang="en-US">Admissions advisory</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_AdmissionsAdvisory" xml:lang="en-US">Includes salaries, benefits, and related costs of personnel engaged in admissions.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_AdmissionsAdvisory" xlink:to="lab_J678L06J67881ML36120_stra_AdmissionsAdvisory"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_HF82J1J2G963_us-gaap_GeneralAndAdministrativeExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and Administrative Expense, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpense" xml:lang="en-US">General and administration</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="loc_H456J84H45669KJ14908_us-gaap_CostsAndExpenses"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostsAndExpenses" xml:lang="en-US">Costs and Expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostsAndExpenses" xml:lang="en-US">Total costs and expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CostsAndExpenses" xml:lang="en-US">Total costs and expenses</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_CostsAndExpenses" xlink:to="lab_J678L06J67881ML36120_us-gaap_CostsAndExpenses"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_HF82J1J2G963_us-gaap_OperatingIncomeLoss"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Operating Income (Loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income (loss) from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income from operations</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OperatingIncomeLoss" xml:lang="en-US">Income from operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OperatingIncomeLoss" xlink:to="lab_JH04L3L4I185_us-gaap_OperatingIncomeLoss"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeNonoperating" xlink:label="loc_H456J84H45669KJ14908_us-gaap_InvestmentIncomeNonoperating"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment Income, Nonoperating</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment and other income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_InvestmentIncomeNonoperating" xml:lang="en-US">Investment Income, Nonoperating, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_InvestmentIncomeNonoperating" xlink:to="lab_J678L06J67881ML36120_us-gaap_InvestmentIncomeNonoperating"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_HF82J1J2G963_us-gaap_InterestExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_InterestExpense" xml:lang="en-US">Interest Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_InterestExpense" xml:lang="en-US">Interest expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_InterestExpense" xml:lang="en-US">Interest Expense, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_InterestExpense" xlink:to="lab_JH04L3L4I185_us-gaap_InterestExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xml:lang="en-US">Income before income taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_HF82J1J2G963_us-gaap_IncomeTaxExpenseBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxExpenseBenefit" xml:lang="en-US">Income Tax Expense (Benefit)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxExpenseBenefit" xml:lang="en-US">Provision for income taxes</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxExpenseBenefit" xml:lang="en-US">Total provision for income taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_JH04L3L4I185_us-gaap_IncomeTaxExpenseBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NetIncomeLoss"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetIncomeLoss" xml:lang="en-US">Net Income (Loss) Attributable to Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income (loss)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetIncomeLoss" xml:lang="en-US">Net income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NetIncomeLoss" xlink:to="lab_J678L06J67881ML36120_us-gaap_NetIncomeLoss"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_EarningsPerShareAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Earnings Per Share [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Net income per share:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Earnings per share:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerShareAbstract" xml:lang="en-US">Net income (loss) per share:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_EarningsPerShareAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_EarningsPerShareAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_H456J84H45669KJ14908_us-gaap_EarningsPerShareBasic"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Earnings Per Share, Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EarningsPerShareBasic" xml:lang="en-US">Earnings Per Share, Basic, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_EarningsPerShareBasic" xlink:to="lab_J678L06J67881ML36120_us-gaap_EarningsPerShareBasic"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_HF82J1J2G963_us-gaap_EarningsPerShareDiluted"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerShareDiluted" xml:lang="en-US">Earnings Per Share, Diluted</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Weighted average shares outstanding:</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted Average Number Of Shares Outstanding, Basic</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Basic</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_H456J84H45669KJ14908_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Shares used to compute diluted earnings per share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Diluted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xml:lang="en-US">Shares used to compute diluted earnings per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_J678L06J67881ML36120_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xml:lang="en-US">Statements of Comprehensive Income [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xml:lang="en-US">Consolidated Statements of Comprehensive Income [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xml:lang="en-US">Other Comprehensive Income (Loss), Net Of Tax, Portion Attributable To Parent [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xml:lang="en-US">Other comprehensive income:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xlink:label="loc_HF82J1J2G963_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in fair value of derivative instrument, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in fair value of derivative instrument, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Change in fair value of derivative instrument, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xml:lang="en-US">Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax" xlink:to="lab_JH04L3L4I185_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ComprehensiveIncomeNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ComprehensiveIncomeNetOfTax" xml:lang="en-US">Comprehensive Income, Net Of Tax, Attributable To Parent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ComprehensiveIncomeNetOfTax" xml:lang="en-US">Comprehensive income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ComprehensiveIncomeNetOfTax" xml:lang="en-US">Comprehensive income</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="lab_J678L06J67881ML36120_us-gaap_ComprehensiveIncomeNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_StatementOfStockholdersEquityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StatementOfStockholdersEquityAbstract" xml:lang="en-US">Statements of Stockholders' Equity [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_StatementOfStockholdersEquityAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_H456J84H45669KJ14908_us-gaap_StatementTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_StatementTable" xml:lang="en-US">Statement [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_StatementTable" xlink:to="lab_J678L06J67881ML36120_us-gaap_StatementTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_HF82J1J2G963_us-gaap_StatementEquityComponentsAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StatementEquityComponentsAxis" xml:lang="en-US">Statement, Equity Components [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StatementEquityComponentsAxis" xml:lang="en-US">Statement, Equity Components [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_JH04L3L4I185_us-gaap_StatementEquityComponentsAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_H456J84H45669KJ14908_us-gaap_EquityComponentDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_EquityComponentDomain" xml:lang="en-US">Equity Component [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EquityComponentDomain" xml:lang="en-US">Equity Component [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EquityComponentDomain" xml:lang="en-US">Equity Component [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_EquityComponentDomain" xlink:to="lab_J678L06J67881ML36120_us-gaap_EquityComponentDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_HF82J1J2G963_us-gaap_CommonStockMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockMember" xml:lang="en-US">Common Stock [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommonStockMember" xml:lang="en-US">Common Stock</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CommonStockMember" xlink:to="lab_JH04L3L4I185_us-gaap_CommonStockMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AdditionalPaidInCapitalMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdditionalPaidInCapitalMember" xml:lang="en-US">Additional Paid In Capital [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdditionalPaidInCapitalMember" xml:lang="en-US">Additional Paid-in Capital</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_AdditionalPaidInCapitalMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_HF82J1J2G963_us-gaap_RetainedEarningsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsMember" xml:lang="en-US">Retained Earnings [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RetainedEarningsMember" xml:lang="en-US">Retained Earnings</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RetainedEarningsMember" xlink:to="lab_JH04L3L4I185_us-gaap_RetainedEarningsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US">Accumulated Other Comprehensive Income [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_HF82J1J2G963_us-gaap_StatementLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StatementLineItems" xml:lang="en-US">Statement [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StatementLineItems" xlink:to="lab_JH04L3L4I185_us-gaap_StatementLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_H456J84H45669KJ14908_us-gaap_SharesIssued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharesIssued" xml:lang="en-US">Shares, Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharesIssued" xml:lang="en-US">Balance, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharesIssued" xml:lang="en-US">Beginning balance, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharesIssued" xml:lang="en-US">Ending balance, shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_SharesIssued" xlink:to="lab_J678L06J67881ML36120_us-gaap_SharesIssued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xlink:label="loc_HF82J1J2G963_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation"/>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xml:lang="en-US">Tax shortfall from vesting of restricted shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xml:lang="en-US">Tax shortfall associated with stock-based compensation arrangements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation" xlink:to="lab_JH04L3L4I185_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:label="loc_H456J84H45669KJ14908_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Value, Restricted Stock Award, Net Of Forfeitures</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Restricted stock grants, net of forfeitures and conversions</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:to="lab_J678L06J67881ML36120_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:label="loc_HF82J1J2G963_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Restricted stock grants, net of forfeitures and conversions, shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:to="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xml:lang="en-US">Adjustments To Additional Paid In Capital, Share-Based Compensation, Requisite Service Period Recognition, Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xml:lang="en-US">Stock-based compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xml:lang="en-US">Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="lab_J678L06J67881ML36120_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_StatementOfCashFlowsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Statements of Cash Flows [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StatementOfCashFlowsAbstract" xml:lang="en-US">Consolidated Statements of Cash Flows [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_StatementOfCashFlowsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Net Cash Provided By (Used In) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Cash flows from operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments To Reconcile Net Income (Loss) To Cash Provided By (Used In) Operating Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_AmortizationOfGainOnSaleOfAssets" xlink:label="loc_H456J84H45669KJ14908_stra_AmortizationOfGainOnSaleOfAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization Of Gain On Sale Of Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization of gain on sale of assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization of gain on sale of assets.</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_stra_AmortizationOfGainOnSaleOfAssets" xml:lang="en-US">Amortization of gain on sale of assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_AmortizationOfGainOnSaleOfAssets" xlink:to="lab_J678L06J67881ML36120_stra_AmortizationOfGainOnSaleOfAssets"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_AmortizationOfDeferredRent" xlink:label="loc_HF82J1J2G963_stra_AmortizationOfDeferredRent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_AmortizationOfDeferredRent" xml:lang="en-US">Amortization Of Deferred Rent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_AmortizationOfDeferredRent" xml:lang="en-US">Amortization of deferred rent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_AmortizationOfDeferredRent" xml:lang="en-US">Represents the amortization of the deferred rent.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_AmortizationOfDeferredRent" xlink:to="lab_JH04L3L4I185_stra_AmortizationOfDeferredRent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AmortizationOfFinancingCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AmortizationOfFinancingCosts" xml:lang="en-US">Amortization Of Financing Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AmortizationOfFinancingCosts" xml:lang="en-US">Amortization of deferred financing costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AmortizationOfFinancingCosts" xlink:to="lab_J678L06J67881ML36120_us-gaap_AmortizationOfFinancingCosts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_HF82J1J2G963_us-gaap_DepreciationAndAmortization"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_DepreciationAndAmortization" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_DepreciationAndAmortization" xml:lang="en-US">Depreciation and amortization</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_DepreciationAndAmortization" xlink:to="lab_JH04L3L4I185_us-gaap_DepreciationAndAmortization"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xlink:label="loc_H456J84H45669KJ14908_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xml:lang="en-US">Deferred Income Tax Expense Benefit Cash Flow Adjustments To Net Income</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xml:lang="en-US">Deferred income taxes</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xml:lang="en-US">Deferred income tax expense benefit cash flow adjustments to net income.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome" xlink:to="lab_J678L06J67881ML36120_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensation" xml:lang="en-US">Share-Based Compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensation" xml:lang="en-US">Stock-based compensation expense included in operating expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensation" xml:lang="en-US">Stock-based compensation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensation" xml:lang="en-US">Share-based Compensation, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensation" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensation"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Increase (Decrease) In Operating Capital [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xml:lang="en-US">Changes in assets and liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInAccountsReceivable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccountsReceivable" xml:lang="en-US">Increase (Decrease) In Accounts Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccountsReceivable" xml:lang="en-US">Tuition receivable, net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccountsReceivable" xml:lang="en-US">Tuition receivable, net</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccountsReceivable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Increase (Decrease) In Prepaid, Deferred Expense and Other Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Other current assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Increase (Decrease) in Prepaid, Deferred Expense and Other Assets, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xml:lang="en-US">Other current assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Other assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xml:lang="en-US">Other assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xml:lang="en-US">Increase (Decrease) In Accounts Payable and Accrued Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xml:lang="en-US">Accounts payable and accrued expenses</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:label="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xml:lang="en-US">Increase (Decrease) In Income Taxes Payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xml:lang="en-US">Income taxes payable and income taxes receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:to="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInDeferredRevenue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInDeferredRevenue" xml:lang="en-US">Increase (Decrease) in Deferred Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInDeferredRevenue" xml:lang="en-US">Deferred revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInDeferredRevenue" xml:lang="en-US">Unearned tuition</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncreaseDecreaseInDeferredRevenue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:label="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xml:lang="en-US">Increase (Decrease) In Other Noncurrent Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xml:lang="en-US">Other long-term liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:to="lab_JH04L3L4I185_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Operating Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash provided by operating activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivities" xml:lang="en-US">Net cash provided by operating activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xml:lang="en-US">Net Cash Provided By (Used In) Investing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xml:lang="en-US">Cash flows from investing activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_H456J84H45669KJ14908_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Payments To Acquire Property, Plant, and Equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Purchases of property and equipment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xml:lang="en-US">Purchases of property and equipment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="lab_J678L06J67881ML36120_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_HF82J1J2G963_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net cash used in investing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivities" xml:lang="en-US">Net cash used in investing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Net Cash Provided By (Used In) Financing Activities [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xml:lang="en-US">Cash flows from financing activities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_HF82J1J2G963_us-gaap_RepaymentsOfLongTermDebt"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RepaymentsOfLongTermDebt" xml:lang="en-US">Repayments Of Long-Term Debt</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RepaymentsOfLongTermDebt" xml:lang="en-US">Payments on term loan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RepaymentsOfLongTermDebt" xml:lang="en-US">Repayments of Long-term Debt, Total</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RepaymentsOfLongTermDebt" xml:lang="en-US">Payments on term loan</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RepaymentsOfLongTermDebt" xlink:to="lab_JH04L3L4I185_us-gaap_RepaymentsOfLongTermDebt"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="loc_H456J84H45669KJ14908_us-gaap_PaymentsOfFinancingCosts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_PaymentsOfFinancingCosts" xml:lang="en-US">Payments of Financing Costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PaymentsOfFinancingCosts" xml:lang="en-US">Payment of deferred financing costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_PaymentsOfFinancingCosts" xlink:to="lab_J678L06J67881ML36120_us-gaap_PaymentsOfFinancingCosts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_HF82J1J2G963_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net Cash Provided By (Used In) Financing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash used in financing activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInFinancingActivities" xml:lang="en-US">Net cash used in financing activities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_JH04L3L4I185_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_H456J84H45669KJ14908_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net decrease in cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net increase (decrease) in cash and cash equivalents</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xml:lang="en-US">Non-cash transactions:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueOfAssetsAcquired" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueOfAssetsAcquired"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueOfAssetsAcquired" xml:lang="en-US">Fair Value Of Assets Acquired</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueOfAssetsAcquired" xml:lang="en-US">Purchases of property and equipment included in accounts payable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueOfAssetsAcquired" xml:lang="en-US">Purchases of property and equipment included in accounts payable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueOfAssetsAcquired" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueOfAssetsAcquired"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xml:lang="en-US">Nature of Operations [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NatureOfOperations"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NatureOfOperations" xml:lang="en-US">Nature Of Operations [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NatureOfOperations" xml:lang="en-US">Nature of Operations</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NatureOfOperations" xlink:to="lab_J678L06J67881ML36120_us-gaap_NatureOfOperations"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_AccountingPoliciesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US">Significant Accounting Policies [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AccountingPoliciesAbstract" xml:lang="en-US">Significant Accounting Policies [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_AccountingPoliciesAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_SignificantAccountingPoliciesTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SignificantAccountingPoliciesTextBlock" xml:lang="en-US">Significant Accounting Policies</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_SignificantAccountingPoliciesTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringAndRelatedActivitiesAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_RestructuringAndRelatedActivitiesAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringAndRelatedActivitiesAbstract" xml:lang="en-US">Restructuring and Related Charges [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringAndRelatedActivitiesAbstract" xml:lang="en-US">Restructuring and other charges (1)</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueDisclosuresAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueDisclosuresAbstract" xml:lang="en-US">Fair Value Measurement [Abstract]</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueDisclosuresTextBlock" xml:lang="en-US">Fair Value Measurement</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_DebtDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_DebtDisclosureAbstract" xml:lang="en-US">Term Loan and Revolving Credit Facility [Abstract]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DebtDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtDisclosureTextBlock" xml:lang="en-US">Debt Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtDisclosureTextBlock" xml:lang="en-US">Term Loan And Revolving Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtDisclosureTextBlock" xml:lang="en-US">Term Loan and Revolving Credit Facility</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xml:lang="en-US">Stock Options, Restricted Stock and Restricted Stock Units [Abstract]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xml:lang="en-US">Stock Options, Restricted Stock and Restricted Stock Units</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesNoncurrentAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_OtherLiabilitiesNoncurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OtherLiabilitiesNoncurrentAbstract" xml:lang="en-US">Other Long-Term Liabilities [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OtherLiabilitiesNoncurrentAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_OtherLiabilitiesNoncurrentAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_OtherLiabilitiesNonCurrentDisclosureTextBlock" xlink:label="loc_H456J84H45669KJ14908_stra_OtherLiabilitiesNonCurrentDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_OtherLiabilitiesNonCurrentDisclosureTextBlock" xml:lang="en-US">Other Liabilities Non Current Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_OtherLiabilitiesNonCurrentDisclosureTextBlock" xml:lang="en-US">Other Long-Term Liabilities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_OtherLiabilitiesNonCurrentDisclosureTextBlock" xml:lang="en-US">The entire disclosure for other non-current liabilities.</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_IncomeTaxDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxDisclosureAbstract" xml:lang="en-US">Income Taxes [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxDisclosureAbstract" xml:lang="en-US">Income Taxes [Abstract]</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncomeTaxDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeTaxDisclosureTextBlock" xml:lang="en-US">Income Tax Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeTaxDisclosureTextBlock" xml:lang="en-US">Income Taxes</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US">Litigation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xml:lang="en-US">Litigation [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LegalMattersAndContingenciesTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LegalMattersAndContingenciesTextBlock" xml:lang="en-US">Legal Matters and Contingencies [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LegalMattersAndContingenciesTextBlock" xml:lang="en-US">Litigation</label>
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<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RegulationAbstract" xlink:label="loc_HF82J1J2G963_stra_RegulationAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_RegulationAbstract" xml:lang="en-US">Regulation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_RegulationAbstract" xml:lang="en-US">Regulation Abstract</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_RegulationAbstract" xml:lang="en-US">Regulation Abstract</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_RegulationAbstract" xlink:to="lab_JH04L3L4I185_stra_RegulationAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RegulationDisclosureTextBlock" xlink:label="loc_H456J84H45669KJ14908_stra_RegulationDisclosureTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation Disclosure [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_RegulationDisclosureTextBlock" xml:lang="en-US">Regulation Disclosure.</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_ConsolidationPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ConsolidationPolicyTextBlock" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ConsolidationPolicyTextBlock" xml:lang="en-US">Financial Statement Presentation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ConsolidationPolicyTextBlock" xml:lang="en-US">Financial Statement Presentation</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenueRecognitionSalesOfServices" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RevenueRecognitionSalesOfServices"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RevenueRecognitionSalesOfServices" xml:lang="en-US">Revenue Recognition, Sales Of Services [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RevenueRecognitionSalesOfServices" xml:lang="en-US">Revenue Recognition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RevenueRecognitionSalesOfServices" xml:lang="en-US">Revenues</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RevenueRecognitionSalesOfServices" xlink:to="lab_J678L06J67881ML36120_us-gaap_RevenueRecognitionSalesOfServices"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_GraduationFundPolicyTextBlock" xlink:label="loc_HF82J1J2G963_stra_GraduationFundPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_GraduationFundPolicyTextBlock" xml:lang="en-US">Graduation Fund [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_GraduationFundPolicyTextBlock" xml:lang="en-US">Graduation Fund</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_GraduationFundPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy regarding graduation fund.</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:label="loc_H456J84H45669KJ14908_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xml:lang="en-US">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xml:lang="en-US">Restricted Cash</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:label="loc_HF82J1J2G963_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xml:lang="en-US">Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xml:lang="en-US">Tuition Receivable and Allowance for Doubtful Accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy" xlink:to="lab_JH04L3L4I185_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US">Fair Value Of Financial Instruments, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US">Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueOfFinancialInstrumentsPolicy" xml:lang="en-US">Fair Value</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xml:lang="en-US">Goodwill and Intangible Assets, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xml:lang="en-US">Goodwill and Indefinite-Lived Intangible Assets</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xml:lang="en-US">Goodwill And Indefinite-Lived Intangible Assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:to="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xml:lang="en-US">Derivatives, Methods Of Accounting, Hedging Derivatives [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives" xml:lang="en-US">Accounting for Derivative Instruments and Hedging Activities</label>
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<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_AuthorizedStockPolicyTextBlock" xlink:label="loc_HF82J1J2G963_stra_AuthorizedStockPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_AuthorizedStockPolicyTextBlock" xml:lang="en-US">Authorized Stock [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_AuthorizedStockPolicyTextBlock" xml:lang="en-US">Authorized Stock</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_AuthorizedStockPolicyTextBlock" xml:lang="en-US">Disclosure of accounting policy for authorized stock. Discloses the type and amount of stock that is issued and outstanding.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_AuthorizedStockPolicyTextBlock" xlink:to="lab_JH04L3L4I185_stra_AuthorizedStockPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xml:lang="en-US">Stock-Based Compensation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_EarningsPerSharePolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Net Income Per Share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_JH04L3L4I185_us-gaap_EarningsPerSharePolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncomeTaxPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Taxes</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncomeTaxPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_HF82J1J2G963_us-gaap_UseOfEstimates"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_UseOfEstimates" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_UseOfEstimates" xml:lang="en-US">Use of Estimates</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_UseOfEstimates" xlink:to="lab_JH04L3L4I185_us-gaap_UseOfEstimates"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xml:lang="en-US">Recent Accounting Pronouncements</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xlink:label="loc_HF82J1J2G963_stra_ScheduleOfGraduationFundLiabilityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xml:lang="en-US">Schedule Of Graduation Fund Liability [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xml:lang="en-US">Schedule of graduation fund liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xml:lang="en-US">Tabular disclosure of graduation fund liability.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_ScheduleOfGraduationFundLiabilityTableTextBlock" xlink:to="lab_JH04L3L4I185_stra_ScheduleOfGraduationFundLiabilityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xml:lang="en-US">Schedule of tuition receivable and allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xlink:label="loc_HF82J1J2G963_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xml:lang="en-US">Schedule Of Allowance For Doubtful Accounts [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xml:lang="en-US">Schedule of allowance for doubtful accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xml:lang="en-US">Tabular disclosure of allowance for doubtful accounts.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock" xlink:to="lab_JH04L3L4I185_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Reconciliation Of Shares Used To Calculate Basic And Diluted Earnings Per Share</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xml:lang="en-US">Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xml:lang="en-US">Schedule of Restructuring Reserve by Type of Cost [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xml:lang="en-US">Schedule of restructuring liability by type of cost</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock" xlink:to="lab_JH04L3L4I185_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule Of Fair Value, Assets and Liabilities Measured On Recurring Basis [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule of assets and liabilities measured at fair value on a recurring basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xml:lang="en-US">Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Schedule of changes in fair value of level 3 liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Schedule Of Changes In Fair Value Of Level 3 Liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xml:lang="en-US">Schedule Of Nonvested Restricted Stock Units Activity [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xml:lang="en-US">Schedule of restricted stock and restricted stock units activity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xml:lang="en-US">Schedule Of Share-Based Compensation, Stock Options, Activity [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xml:lang="en-US">Schedule of stock option activity and other stock option information</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="lab_JH04L3L4I185_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xml:lang="en-US">Schedule Of Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs [Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xml:lang="en-US">Schedule of stock-based compensation expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="lab_J678L06J67881ML36120_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xlink:label="loc_HF82J1J2G963_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xml:lang="en-US">Other Noncurrent Liabilities [Table Text Block]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xml:lang="en-US">Schedule of other long-term liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock" xlink:to="lab_JH04L3L4I185_us-gaap_OtherNoncurrentLiabilitiesTableTextBlock"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="loc_H456J84H45669KJ14908_us-gaap_NumberOfReportableSegments"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_NumberOfReportableSegments" xml:lang="en-US">Number Of Reportable Segments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_NumberOfReportableSegments" xml:lang="en-US">Number of reporting segments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_NumberOfReportableSegments" xlink:to="lab_J678L06J67881ML36120_us-gaap_NumberOfReportableSegments"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_GraduationFundLiabilityAbstract" xlink:label="loc_HF82J1J2G963_stra_GraduationFundLiabilityAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_GraduationFundLiabilityAbstract" xml:lang="en-US">Graduation Fund Liability [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_GraduationFundLiabilityAbstract" xml:lang="en-US">Graduation fund liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_GraduationFundLiabilityAbstract" xml:lang="en-US">Graduation Fund Liability [Abstract]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_GraduationFundLiabilityAbstract" xlink:to="lab_JH04L3L4I185_stra_GraduationFundLiabilityAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_GraduationFundLiability" xlink:label="loc_H456J84H45669KJ14908_stra_GraduationFundLiability"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_GraduationFundLiability" xml:lang="en-US">Graduation Fund Liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_stra_GraduationFundLiability" xml:lang="en-US">Balance at December 31, 2014</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_stra_GraduationFundLiability" xml:lang="en-US">Balance at September 30, 2015</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_GraduationFundLiability" xml:lang="en-US">Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to graduation fund liability.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_GraduationFundLiability" xlink:to="lab_J678L06J67881ML36120_stra_GraduationFundLiability"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RevenueDeferred" xlink:label="loc_HF82J1J2G963_stra_RevenueDeferred"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_RevenueDeferred" xml:lang="en-US">Revenue Deferred</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_RevenueDeferred" xml:lang="en-US">Revenue deferred</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_RevenueDeferred" xml:lang="en-US">Additional graduation fund liability generated in the current year for services to be performed in the future.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_RevenueDeferred" xlink:to="lab_JH04L3L4I185_stra_RevenueDeferred"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_BenefitRedeemed" xlink:label="loc_H456J84H45669KJ14908_stra_BenefitRedeemed"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_BenefitRedeemed" xml:lang="en-US">Benefit Redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_BenefitRedeemed" xml:lang="en-US">Benefit redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_BenefitRedeemed" xml:lang="en-US">Current year redemptions of graduation fund credits by students.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_BenefitRedeemed" xlink:to="lab_J678L06J67881ML36120_stra_BenefitRedeemed"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetCurrentAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_AccountsReceivableNetCurrentAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AccountsReceivableNetCurrentAbstract" xml:lang="en-US">Accounts Receivable, Net, Current [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AccountsReceivableNetCurrentAbstract" xml:lang="en-US">Schedule of tuition receivable and allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AccountsReceivableNetCurrentAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_AccountsReceivableNetCurrentAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AccountsReceivableGrossCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableGrossCurrent" xml:lang="en-US">Accounts Receivable, Gross, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableGrossCurrent" xml:lang="en-US">Tuition receivable</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AccountsReceivableGrossCurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_AccountsReceivableGrossCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="loc_HF82J1J2G963_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Allowance for doubtful accounts, beginning of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Allowance for doubtful accounts, end of period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xml:lang="en-US">Allowances for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xml:lang="en-US">Allowance for Doubtful Accounts Receivable [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xml:lang="en-US">Schedule of allowance for doubtful accounts</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward" xlink:to="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="loc_HF82J1J2G963_us-gaap_ProvisionForDoubtfulAccounts"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ProvisionForDoubtfulAccounts" xml:lang="en-US">Provision for Doubtful Accounts</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ProvisionForDoubtfulAccounts" xml:lang="en-US">Additions charged to expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ProvisionForDoubtfulAccounts" xlink:to="lab_JH04L3L4I185_us-gaap_ProvisionForDoubtfulAccounts"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Write-offs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xml:lang="en-US">Write-offs, net of recoveries</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xml:lang="en-US">Write-offs, net of recoveries</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs" xlink:to="lab_J678L06J67881ML36120_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xml:lang="en-US">Weighted Average Number Of Shares Outstanding Reconciliation [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xml:lang="en-US">Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Nonvested Shares with Forfeitable Dividends</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xml:lang="en-US">Unvested restricted stock</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_SignificantAccountingPoliciesTextualAbstract" xlink:label="loc_HF82J1J2G963_stra_SignificantAccountingPoliciesTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_SignificantAccountingPoliciesTextualAbstract" xml:lang="en-US">Significant Accounting Policies (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_SignificantAccountingPoliciesTextualAbstract" xml:lang="en-US">Significant Accounting Policies (Textual)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_SignificantAccountingPoliciesTextualAbstract" xml:lang="en-US">Significant accounting policies.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_SignificantAccountingPoliciesTextualAbstract" xlink:to="lab_JH04L3L4I185_stra_SignificantAccountingPoliciesTextualAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_PercentageOfTuitionRevenueInRevenue" xlink:label="loc_H456J84H45669KJ14908_stra_PercentageOfTuitionRevenueInRevenue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_PercentageOfTuitionRevenueInRevenue" xml:lang="en-US">Percentage Of Tuition Revenue In Revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_PercentageOfTuitionRevenueInRevenue" xml:lang="en-US">Percentage of tuition revenue in total revenue</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_PercentageOfTuitionRevenueInRevenue" xml:lang="en-US">Percentage of tuition revenue in total revenue.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_PercentageOfTuitionRevenueInRevenue" xlink:to="lab_J678L06J67881ML36120_stra_PercentageOfTuitionRevenueInRevenue"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xlink:label="loc_HF82J1J2G963_stra_UnusedBooksAndAcademicMaterialRefundablePeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xml:lang="en-US">Unused Books And Academic Material Refundable Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xml:lang="en-US">Unused books and academic material refundable period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xml:lang="en-US">The period to return unused books and related academic materials in order to receive a full refund.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_UnusedBooksAndAcademicMaterialRefundablePeriod" xlink:to="lab_JH04L3L4I185_stra_UnusedBooksAndAcademicMaterialRefundablePeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted cash</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="lab_J678L06J67881ML36120_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableNetNoncurrent" xlink:label="loc_HF82J1J2G963_us-gaap_AccountsReceivableNetNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AccountsReceivableNetNoncurrent" xml:lang="en-US">Accounts Receivable, Net, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AccountsReceivableNetNoncurrent" xml:lang="en-US">Tuition receivable included in other assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AccountsReceivableNetNoncurrent" xlink:to="lab_JH04L3L4I185_us-gaap_AccountsReceivableNetNoncurrent"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ExpectedCollectionPeriodOfTuitionReceivable" xlink:label="loc_H456J84H45669KJ14908_stra_ExpectedCollectionPeriodOfTuitionReceivable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_ExpectedCollectionPeriodOfTuitionReceivable" xml:lang="en-US">Expected Collection Period Of Tuition Receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_ExpectedCollectionPeriodOfTuitionReceivable" xml:lang="en-US">Expected collection period of tuition receivable</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_ExpectedCollectionPeriodOfTuitionReceivable" xml:lang="en-US">Expected collection period of tuition receivable.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_ExpectedCollectionPeriodOfTuitionReceivable" xlink:to="lab_J678L06J67881ML36120_stra_ExpectedCollectionPeriodOfTuitionReceivable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:label="loc_HF82J1J2G963_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xml:lang="en-US">Restricted Cash and Cash Equivalents, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xml:lang="en-US">Minimum protective endowment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:to="lab_JH04L3L4I185_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_H456J84H45669KJ14908_us-gaap_PreferredStockSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesAuthorized" xml:lang="en-US">Preferred Stock, Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesAuthorized" xml:lang="en-US">Preferred stock, shares authorized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_HF82J1J2G963_us-gaap_PreferredStockSharesIssued"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PreferredStockSharesIssued" xml:lang="en-US">Preferred stock, shares issued</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_PreferredStockSharesIssued" xlink:to="lab_JH04L3L4I185_us-gaap_PreferredStockSharesIssued"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="loc_H456J84H45669KJ14908_us-gaap_PreferredStockSharesOutstanding"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred stock, shares outstanding</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding, Ending Balance</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_J678L06J67881ML36120_us-gaap_PreferredStockSharesOutstanding"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExaminationDescription" xlink:label="loc_HF82J1J2G963_us-gaap_IncomeTaxExaminationDescription"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxExaminationDescription" xml:lang="en-US">Income Tax Examination, Description</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeTaxExaminationDescription" xml:lang="en-US">Income tax description</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncomeTaxExaminationDescription" xlink:to="lab_JH04L3L4I185_us-gaap_IncomeTaxExaminationDescription"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xlink:label="loc_H456J84H45669KJ14908_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xml:lang="en-US">Estimated Graduation Fund To Be Redeemed Next Twelve Months</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xml:lang="en-US">Graduation fund estimated to be redeemed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xml:lang="en-US">The estimated amount of graduation fund to be redeemed in the next twelve months.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths" xlink:to="lab_J678L06J67881ML36120_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:label="loc_HF82J1J2G963_us-gaap_GoodwillAndIntangibleAssetImpairment"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetImpairment" xml:lang="en-US">Goodwill and Intangible Asset Impairment</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetImpairment" xml:lang="en-US">Goodwill and intangible assets impairment</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_GoodwillAndIntangibleAssetImpairment" xlink:to="lab_JH04L3L4I185_us-gaap_GoodwillAndIntangibleAssetImpairment"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringReserveRollForward" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RestructuringReserveRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestructuringReserveRollForward" xml:lang="en-US">Restructuring Reserve [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestructuringReserveRollForward" xml:lang="en-US">Schedule of restructuring liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestructuringReserveRollForward" xml:lang="en-US">Schedule of restructuring liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RestructuringReserveRollForward" xlink:to="lab_J678L06J67881ML36120_us-gaap_RestructuringReserveRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringReserve" xlink:label="loc_HF82J1J2G963_us-gaap_RestructuringReserve"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringReserve" xml:lang="en-US">Restructuring Reserve</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringReserve" xml:lang="en-US">Restructuring charges gross obligations liability</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringReserve" xml:lang="en-US">Balance at December 31, 2014</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringReserve" xml:lang="en-US">Balance at September 30, 2015</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RestructuringReserve" xlink:to="lab_JH04L3L4I185_us-gaap_RestructuringReserve"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xlink:label="loc_H456J84H45669KJ14908_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xml:lang="en-US">Restructruing Reserve Accrual Adjustments Settled Incurred</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xml:lang="en-US">Non-cash adjustments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xml:lang="en-US">Amount and any adjustment to the restructuring reserve (settled) incurred during the period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred" xlink:to="lab_J678L06J67881ML36120_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRestructuring" xlink:label="loc_HF82J1J2G963_us-gaap_PaymentsForRestructuring"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_PaymentsForRestructuring" xml:lang="en-US">Payments for Restructuring</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PaymentsForRestructuring" xml:lang="en-US">Payments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_PaymentsForRestructuring" xml:lang="en-US">Payments</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_PaymentsForRestructuring" xlink:to="lab_JH04L3L4I185_us-gaap_PaymentsForRestructuring"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xml:lang="en-US">Schedule of Restructuring and Related Costs [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:to="lab_J678L06J67881ML36120_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringCostAndReserveAxis" xlink:label="loc_HF82J1J2G963_us-gaap_RestructuringCostAndReserveAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringCostAndReserveAxis" xml:lang="en-US">Restructuring Type [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RestructuringCostAndReserveAxis" xlink:to="lab_JH04L3L4I185_us-gaap_RestructuringCostAndReserveAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TypeOfRestructuringDomain" xlink:label="loc_H456J84H45669KJ14908_us-gaap_TypeOfRestructuringDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_TypeOfRestructuringDomain" xml:lang="en-US">Type of Restructuring [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_TypeOfRestructuringDomain" xlink:to="lab_J678L06J67881ML36120_us-gaap_TypeOfRestructuringDomain"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_LeaseAndRelatedCostsMember" xlink:label="loc_HF82J1J2G963_stra_LeaseAndRelatedCostsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease And Related Costs [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease and Related Costs, Net [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_LeaseAndRelatedCostsMember" xml:lang="en-US">Lease And Related Costs.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_LeaseAndRelatedCostsMember" xlink:to="lab_JH04L3L4I185_stra_LeaseAndRelatedCostsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringCostAndReserveLineItems" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RestructuringCostAndReserveLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestructuringCostAndReserveLineItems" xml:lang="en-US">Restructuring Cost and Reserve [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RestructuringCostAndReserveLineItems" xlink:to="lab_J678L06J67881ML36120_us-gaap_RestructuringCostAndReserveLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestructuringReserveCurrent" xlink:label="loc_HF82J1J2G963_us-gaap_RestructuringReserveCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringReserveCurrent" xml:lang="en-US">Restructuring Reserve, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RestructuringReserveCurrent" xml:lang="en-US">Restructuring liabilities</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RestructuringReserveCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_RestructuringReserveCurrent"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_CampusLocationClosed" xlink:label="loc_H456J84H45669KJ14908_stra_CampusLocationClosed"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_CampusLocationClosed" xml:lang="en-US">Campus Location Closed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_CampusLocationClosed" xml:lang="en-US">Campus location closed</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_CampusLocationClosed" xml:lang="en-US">Campus location closed.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_CampusLocationClosed" xlink:to="lab_J678L06J67881ML36120_stra_CampusLocationClosed"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ContractualObligation" xlink:label="loc_HF82J1J2G963_us-gaap_ContractualObligation"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ContractualObligation" xml:lang="en-US">Contractual Obligation</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ContractualObligation" xml:lang="en-US">Contractual obligation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ContractualObligation" xlink:to="lab_JH04L3L4I185_us-gaap_ContractualObligation"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_LeaseTermExpire" xlink:label="loc_H456J84H45669KJ14908_stra_LeaseTermExpire"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_LeaseTermExpire" xml:lang="en-US">Lease Term Expire</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_LeaseTermExpire" xml:lang="en-US">Lease term expire</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_LeaseTermExpire" xml:lang="en-US">The last year for which all current leases will expire.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_LeaseTermExpire" xlink:to="lab_J678L06J67881ML36120_stra_LeaseTermExpire"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccretionExpense" xlink:label="loc_HF82J1J2G963_us-gaap_AccretionExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AccretionExpense" xml:lang="en-US">Accretion Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AccretionExpense" xml:lang="en-US">Adjustments of accretion of interest on lease costs</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AccretionExpense" xlink:to="lab_JH04L3L4I185_us-gaap_AccretionExpense"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_MarginalBorrowingRateOfLease" xlink:label="loc_H456J84H45669KJ14908_stra_MarginalBorrowingRateOfLease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_MarginalBorrowingRateOfLease" xml:lang="en-US">Marginal Borrowing Rate Of Lease</label>
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<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_MarginalBorrowingRateOfLease" xml:lang="en-US">Marginal borrowing rate of lease.</label>
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<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueByFairValueHierarchyLevelAxis" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueByFairValueHierarchyLevelAxis" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xml:lang="en-US">Fair Value, Measurements, Fair Value Hierarchy [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueInputsLevel1Member"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel1Member" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel1Member" xml:lang="en-US">Quoted Prices In Active Markets For Identical Assets/Liabilities (Level 1) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel1Member" xml:lang="en-US">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel1Member"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueInputsLevel2Member"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueInputsLevel2Member" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueInputsLevel2Member" xml:lang="en-US">Significant Other Observable Inputs (Level 2) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueInputsLevel2Member" xml:lang="en-US">Significant Other Observable Inputs (Level 2) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueInputsLevel2Member"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueInputsLevel3Member"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel3Member" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel3Member" xml:lang="en-US">Significant Unobservable Inputs (Level 3) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel3Member" xml:lang="en-US">Significant Unobservable Inputs (Level 3) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueInputsLevel3Member"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FinancialInstrumentAxis" xlink:label="loc_HF82J1J2G963_us-gaap_FinancialInstrumentAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FinancialInstrumentAxis" xml:lang="en-US">Financial Instrument [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FinancialInstrumentAxis" xlink:to="lab_JH04L3L4I185_us-gaap_FinancialInstrumentAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:label="loc_H456J84H45669KJ14908_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xml:lang="en-US">Types Of Financial Instruments [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xml:lang="en-US">Types of Financial Instruments [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain" xlink:to="lab_J678L06J67881ML36120_us-gaap_TransfersAndServicingOfFinancialInstrumentsTypesOfFinancialInstrumentsDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="loc_HF82J1J2G963_us-gaap_MoneyMarketFundsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money Market Funds [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money Market Funds [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_MoneyMarketFundsMember" xml:lang="en-US">Money market funds [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_MoneyMarketFundsMember" xlink:to="lab_JH04L3L4I185_us-gaap_MoneyMarketFundsMember"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_DeferredPaymentsMember" xlink:label="loc_H456J84H45669KJ14908_stra_DeferredPaymentsMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred Payments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred payments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred Payments [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_DeferredPaymentsMember" xml:lang="en-US">Deferred payments.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_DeferredPaymentsMember" xlink:to="lab_J678L06J67881ML36120_stra_DeferredPaymentsMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestRateSwapMember" xlink:label="loc_HF82J1J2G963_us-gaap_InterestRateSwapMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_InterestRateSwapMember" xml:lang="en-US">Interest Rate Swap [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_InterestRateSwapMember" xml:lang="en-US">Interest Rate Swap [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_InterestRateSwapMember" xml:lang="en-US">Interest rate swap [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_InterestRateSwapMember" xlink:to="lab_JH04L3L4I185_us-gaap_InterestRateSwapMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xml:lang="en-US">Schedule of assets and liabilities measured at fair value on a recurring basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AssetsFairValueDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureAbstract" xml:lang="en-US">Assets, Fair Value Disclosure [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureAbstract" xml:lang="en-US">Assets:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_CashEquivalentsFairValueAbstract" xlink:label="loc_HF82J1J2G963_stra_CashEquivalentsFairValueAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_CashEquivalentsFairValueAbstract" xml:lang="en-US">Cash Equivalents Fair Value [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_CashEquivalentsFairValueAbstract" xml:lang="en-US">Cash equivalents:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_CashEquivalentsFairValueAbstract" xml:lang="en-US">Cash equivalents fair value.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_CashEquivalentsFairValueAbstract" xlink:to="lab_JH04L3L4I185_stra_CashEquivalentsFairValueAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureRecurring" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AssetsFairValueDisclosureRecurring"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Assets, Fair Value Disclosure, Recurring</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Total assets at fair value on a recurring basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Total assets at fair value on a recurring basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureRecurring" xml:lang="en-US">Assets, Fair Value Disclosure, Recurring, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AssetsFairValueDisclosureRecurring" xlink:to="lab_J678L06J67881ML36120_us-gaap_AssetsFairValueDisclosureRecurring"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesFairValueDisclosureAbstract" xml:lang="en-US">Liabilities, Fair Value Disclosure [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesFairValueDisclosureAbstract" xml:lang="en-US">Liabilities:</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_OtherLiabilitiesFairValueAbstract" xlink:label="loc_H456J84H45669KJ14908_stra_OtherLiabilitiesFairValueAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_OtherLiabilitiesFairValueAbstract" xml:lang="en-US">Other Liabilities Fair Value [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_OtherLiabilitiesFairValueAbstract" xml:lang="en-US">Other liabilities:</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_OtherLiabilitiesFairValueAbstract" xml:lang="en-US">Other liabilities fair value.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_OtherLiabilitiesFairValueAbstract" xlink:to="lab_J678L06J67881ML36120_stra_OtherLiabilitiesFairValueAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:label="loc_HF82J1J2G963_us-gaap_LiabilitiesFairValueDisclosureRecurring"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesFairValueDisclosureRecurring" xml:lang="en-US">Liabilities, Fair Value Disclosure, Recurring</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilitiesFairValueDisclosureRecurring" xml:lang="en-US">Total liabilities at fair value on a recurring basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:to="lab_JH04L3L4I185_us-gaap_LiabilitiesFairValueDisclosureRecurring"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByLiabilityClassAxis" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueByLiabilityClassAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueByLiabilityClassAxis" xml:lang="en-US">Fair Value By Liability Class [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueByLiabilityClassAxis" xml:lang="en-US">Fair Value by Liability Class [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueByLiabilityClassAxis" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueByLiabilityClassAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xml:lang="en-US">Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation By Liability Class [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xml:lang="en-US">Fair Value, Liabilities, Measured on Recurring Basis, Unobservable Input Reconciliation, by Liability Class [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xml:lang="en-US">Fair Value, Liabilities, Measured on Recurring Basis, Unobservable Input Reconciliation, by Liability Class [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationByLiabilityClassDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Schedule of changes in fair value of level 3 liability</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Deferred Payments, Beginning Balance</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Balance at December 31, 2014</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xml:lang="en-US">Balance at September 30, 2015</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xml:lang="en-US">Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xml:lang="en-US">Amounts earned</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xml:lang="en-US">Amounts earned</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xml:lang="en-US">Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xml:lang="en-US">Adjustments to fair value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease), Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xml:lang="en-US">Fair Value, Measurement With Unobservable Inputs Reconciliation, Recurring Basis, Liability, Transfers, Net</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xml:lang="en-US">Transfers in or out of Level 3</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByMeasurementFrequencyAxis" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueByMeasurementFrequencyAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueByMeasurementFrequencyAxis" xml:lang="en-US">Measurement Frequency [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueByMeasurementFrequencyAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementFrequencyDomain" xlink:label="loc_H456J84H45669KJ14908_us-gaap_FairValueMeasurementFrequencyDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementFrequencyDomain" xml:lang="en-US">Fair Value, Measurement Frequency [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_FairValueMeasurementFrequencyDomain" xlink:to="lab_J678L06J67881ML36120_us-gaap_FairValueMeasurementFrequencyDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueMeasurementsNonrecurringMember" xlink:label="loc_HF82J1J2G963_us-gaap_FairValueMeasurementsNonrecurringMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsNonrecurringMember" xml:lang="en-US">Fair Value, Measurements, Nonrecurring [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsNonrecurringMember" xml:lang="en-US">Fair Value, Measurements, Nonrecurring [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="lab_JH04L3L4I185_us-gaap_FairValueMeasurementsNonrecurringMember"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_FairValueMeasurementTextualAbstract" xlink:label="loc_H456J84H45669KJ14908_stra_FairValueMeasurementTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_FairValueMeasurementTextualAbstract" xml:lang="en-US">Fair Value Measurement (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_FairValueMeasurementTextualAbstract" xml:lang="en-US">Fair Value Measurement (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_FairValueMeasurementTextualAbstract" xlink:to="lab_J678L06J67881ML36120_stra_FairValueMeasurementTextualAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GoodwillFairValueDisclosure" xlink:label="loc_HF82J1J2G963_us-gaap_GoodwillFairValueDisclosure"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillFairValueDisclosure" xml:lang="en-US">Goodwill, Fair Value Disclosure</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillFairValueDisclosure" xml:lang="en-US">Goodwill</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GoodwillFairValueDisclosure" xml:lang="en-US">Assets measured at fair value on a non-recurring basis, goodwill</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_GoodwillFairValueDisclosure" xlink:to="lab_JH04L3L4I185_us-gaap_GoodwillFairValueDisclosure"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill), Fair Value Disclosure</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure" xml:lang="en-US">Trademark</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure" xml:lang="en-US">Assets measured at fair value on a non-recurring basis, other indefinite-lived intangible assets</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure" xlink:to="lab_J678L06J67881ML36120_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_DeferredPaymentArrangementNumberOfSellers" xlink:label="loc_HF82J1J2G963_stra_DeferredPaymentArrangementNumberOfSellers"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_DeferredPaymentArrangementNumberOfSellers" xml:lang="en-US">Deferred Payment Arrangement Number Of Sellers</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_DeferredPaymentArrangementNumberOfSellers" xml:lang="en-US">Deferred payment arrangement number of sellers</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_DeferredPaymentArrangementNumberOfSellers" xml:lang="en-US">Represents the number of sellers with which the entity has entered into deferred payment arrangements.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_DeferredPaymentArrangementNumberOfSellers" xlink:to="lab_JH04L3L4I185_stra_DeferredPaymentArrangementNumberOfSellers"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DebtInstrumentTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentTable" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentTable" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DebtInstrumentTable" xlink:to="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_HF82J1J2G963_us-gaap_DebtInstrumentAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_DebtInstrumentAxis" xml:lang="en-US">Debt Instrument [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_DebtInstrumentAxis" xml:lang="en-US">Debt Instrument [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_DebtInstrumentAxis" xlink:to="lab_JH04L3L4I185_us-gaap_DebtInstrumentAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DebtInstrumentNameDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentNameDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevolvingCreditFacilityMember" xlink:label="loc_HF82J1J2G963_us-gaap_RevolvingCreditFacilityMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RevolvingCreditFacilityMember" xml:lang="en-US">Revolving Credit Facility [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RevolvingCreditFacilityMember" xml:lang="en-US">Revolving Credit Facility [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RevolvingCreditFacilityMember" xml:lang="en-US">Revolving credit facility [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RevolvingCreditFacilityMember" xlink:to="lab_JH04L3L4I185_us-gaap_RevolvingCreditFacilityMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LineOfCreditFacilityAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LineOfCreditFacilityAxis" xml:lang="en-US">Line Of Credit Facility [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LineOfCreditFacilityAxis" xml:lang="en-US">Line of Credit Facility [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LineOfCreditFacilityAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_LineOfCreditFacilityAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityLenderDomain" xlink:label="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityLenderDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US">Line Of Credit Facility Lender [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityLenderDomain" xml:lang="en-US">Line of Credit Facility, Lender [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityLenderDomain" xlink:to="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityLenderDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LetterOfCreditMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LetterOfCreditMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LetterOfCreditMember" xml:lang="en-US">Letter Of Credit [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LetterOfCreditMember" xml:lang="en-US">Letter of Credit [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LetterOfCreditMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_LetterOfCreditMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_HF82J1J2G963_us-gaap_LondonInterbankOfferedRateLIBORMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LondonInterbankOfferedRateLIBORMember" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LondonInterbankOfferedRateLIBORMember" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:to="lab_JH04L3L4I185_us-gaap_LondonInterbankOfferedRateLIBORMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RangeAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RangeAxis" xml:lang="en-US">Range [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RangeAxis" xml:lang="en-US">Range [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RangeAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_RangeAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_HF82J1J2G963_us-gaap_RangeMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RangeMember" xml:lang="en-US">Range [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RangeMember" xml:lang="en-US">Range [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_RangeMember" xml:lang="en-US">Range [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RangeMember" xlink:to="lab_JH04L3L4I185_us-gaap_RangeMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_MinimumMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_MinimumMember" xml:lang="en-US">Minimum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_MinimumMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_MinimumMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_HF82J1J2G963_us-gaap_MaximumMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_MaximumMember" xml:lang="en-US">Maximum [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_MaximumMember" xlink:to="lab_JH04L3L4I185_us-gaap_MaximumMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_VariableRateAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_VariableRateAxis" xml:lang="en-US">Variable Rate [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_VariableRateAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_VariableRateAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_HF82J1J2G963_us-gaap_VariableRateDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_VariableRateDomain" xml:lang="en-US">Variable Rate [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_VariableRateDomain" xlink:to="lab_JH04L3L4I185_us-gaap_VariableRateDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BaseRateMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_BaseRateMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_BaseRateMember" xml:lang="en-US">Base Rate [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_BaseRateMember" xml:lang="en-US">Base Rate [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_BaseRateMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_BaseRateMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_HF82J1J2G963_us-gaap_DebtInstrumentLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_DebtInstrumentLineItems" xml:lang="en-US">Debt Instrument [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_DebtInstrumentLineItems" xml:lang="en-US">Debt Instrument [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_DebtInstrumentLineItems" xlink:to="lab_JH04L3L4I185_us-gaap_DebtInstrumentLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_TermLoanAndRevolvingCreditFacilityTextualAbstract" xlink:label="loc_H456J84H45669KJ14908_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract" xml:lang="en-US">Term Loan and Revolving Credit Facility (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract" xml:lang="en-US">Term Loan and Revolving Credit Facility (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract" xlink:to="lab_J678L06J67881ML36120_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US">Revolving credit facility, value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xml:lang="en-US">Maximum borrowing on credit facility</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_MaximumAggregateIncrementalTermLoans" xlink:label="loc_H456J84H45669KJ14908_stra_MaximumAggregateIncrementalTermLoans"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_MaximumAggregateIncrementalTermLoans" xml:lang="en-US">Maximum Aggregate Incremental Term Loans</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_MaximumAggregateIncrementalTermLoans" xml:lang="en-US">Maximum aggregate incremental term loans</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_MaximumAggregateIncrementalTermLoans" xml:lang="en-US">The maximum value of the option to increase the commitments under the revolver or establish one or more incremental term loans.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_MaximumAggregateIncrementalTermLoans" xlink:to="lab_J678L06J67881ML36120_stra_MaximumAggregateIncrementalTermLoans"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityExpirationDate1" xlink:label="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityExpirationDate1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityExpirationDate1" xml:lang="en-US">Line of Credit Facility, Expiration Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityExpirationDate1" xml:lang="en-US">Maturity date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityExpirationDate1" xml:lang="en-US">Maturity date</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityExpirationDate1" xlink:to="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityExpirationDate1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US">Margin rate for interest if using base rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xml:lang="en-US">Previous Margin rate for interest if using base rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_J678L06J67881ML36120_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US">Line of Credit Facility, Unused Capacity, Commitment Fee Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US">Unused commitment fee</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xml:lang="en-US">Unused commitment fee</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:to="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaid" xlink:label="loc_H456J84H45669KJ14908_us-gaap_InterestPaid"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_InterestPaid" xml:lang="en-US">Interest Paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_InterestPaid" xml:lang="en-US">Cash interest paid</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_InterestPaid" xml:lang="en-US">Interest Paid, Total</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_InterestPaid" xlink:to="lab_J678L06J67881ML36120_us-gaap_InterestPaid"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantTerms" xlink:label="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityCovenantTerms"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityCovenantTerms" xml:lang="en-US">Line of Credit Facility, Covenant Terms</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityCovenantTerms" xml:lang="en-US">Covenant terms required by credit facility</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LineOfCreditFacilityCovenantTerms" xlink:to="lab_JH04L3L4I185_us-gaap_LineOfCreditFacilityCovenantTerms"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xlink:label="loc_H456J84H45669KJ14908_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Maximum Leverage Ratio To Be Maintained Under Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Maximum total leverage ratio</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Maximum leverage ratio to be maintained under credit facility.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility" xlink:to="lab_J678L06J67881ML36120_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xlink:label="loc_HF82J1J2G963_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum Coverage Ratio To Be Maintained Under Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum coverage ratio</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum coverage ratio to be maintained under credit facility.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility" xlink:to="lab_JH04L3L4I185_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xlink:label="loc_H456J84H45669KJ14908_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum Department Of Education Financial Composite Score To Be Maintained Under Credit Facility</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum department of education financial composite score</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum Department of Education Financial Composite Score</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xml:lang="en-US">Minimum department of education financial composite score to be maintained under credit facility.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility" xlink:to="lab_J678L06J67881ML36120_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_HF82J1J2G963_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US">Debt Instrument, Description of Variable Rate Basis</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xml:lang="en-US">Debt instrument description of variable rate basis</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:to="lab_JH04L3L4I185_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_H456J84H45669KJ14908_us-gaap_LineOfCredit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_LineOfCredit" xml:lang="en-US">Long-term Line of Credit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_LineOfCredit" xml:lang="en-US">Revolving credit facility, outstanding</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_LineOfCredit" xlink:to="lab_J678L06J67881ML36120_us-gaap_LineOfCredit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_HF82J1J2G963_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="lab_JH04L3L4I185_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_AwardTypeAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_AwardTypeAxis" xml:lang="en-US">Award Type [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_AwardTypeAxis" xml:lang="en-US">Award Type [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_AwardTypeAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_AwardTypeAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US">Equity Award [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RestrictedStockMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestrictedStockMember" xml:lang="en-US">Restricted Stock [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_RestrictedStockMember" xml:lang="en-US">Restricted stock and restricted stock units [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RestrictedStockMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_RestrictedStockMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Nonvested, Number Of Shares [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xml:lang="en-US">Schedule of restricted stock and restricted stock units activity</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xml:lang="en-US">Beginning Balance, Number of shares or units</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xml:lang="en-US">Ending Balance, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xml:lang="en-US">Number of shares granted</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xml:lang="en-US">Grants, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Vested, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Vested shares, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Forfeited In Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Forfeitures, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Forfeitures, Number of shares or units</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Beginning Balance, Weighted-average grant price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Ending Balance, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Grants In Period, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Stock price of restricted stock grants</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Grants, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Vested In Period, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Vested shares, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Forfeitures, Weighted Average Grant Date Fair Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xml:lang="en-US">Forfeitures, Weighted-average grant price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xml:lang="en-US">Forfeitures, Weighted-average grant price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_HF82J1J2G963_us-gaap_EmployeeStockOptionMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_EmployeeStockOptionMember" xml:lang="en-US">Employee Stock Option [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_EmployeeStockOptionMember" xml:lang="en-US">Stock options [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_EmployeeStockOptionMember" xlink:to="lab_JH04L3L4I185_us-gaap_EmployeeStockOptionMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding [Roll Forward]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xml:lang="en-US">Schedule of stock option activity and other stock option information</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Beginning Balance, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Ending Balance, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xml:lang="en-US">Grants, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_HF82J1J2G963_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US">Exercises, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xml:lang="en-US">Stock options exercised</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="lab_JH04L3L4I185_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Forfeitures In Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Forfeitures, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Forfeitures/Expirations, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Exercisable, Number of shares</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Exercisable, Number of shares</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Beginning Balance, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Ending Balance, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Grants, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Exercises, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-Based Compensation Arrangements By Share-Based Payment Award, Options, Forfeitures In Period, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Forfeitures/Expirations, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Beginning Balance, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Beginning Balance, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Exercisable, Weighted-average exercise price</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/definitionGuidance" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Exercisable, Weighted-average exercise price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:label="loc_HF82J1J2G963_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xml:lang="en-US">Weighted-average remaining contractual life (years)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:to="lab_JH04L3L4I185_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:label="loc_H456J84H45669KJ14908_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US">Exercisable, Weighted-average remaining contractual life (years)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xml:lang="en-US">Exercisable, Weighted-average remaining contractual life (yrs.)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1" xlink:to="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Beginning Balance, Aggregate intrinsic value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Ending Balance, Aggregate intrinsic value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:label="loc_H456J84H45669KJ14908_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xml:lang="en-US">Exercisable, Aggregate intrinsic value</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:to="lab_J678L06J67881ML36120_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:label="loc_HF82J1J2G963_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xml:lang="en-US">Schedule Of Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xml:lang="en-US">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:to="lab_JH04L3L4I185_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncomeStatementLocationAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeStatementLocationAxis" xml:lang="en-US">Income Statement Location [Axis]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeStatementLocationAxis" xml:lang="en-US">Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs, by Report Line [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncomeStatementLocationAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncomeStatementLocationAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="loc_HF82J1J2G963_us-gaap_IncomeStatementLocationDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeStatementLocationDomain" xml:lang="en-US">Income Statement Location [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeStatementLocationDomain" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Report Line [Domain]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_IncomeStatementLocationDomain" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Report Line [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_IncomeStatementLocationDomain" xlink:to="lab_JH04L3L4I185_us-gaap_IncomeStatementLocationDomain"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_InstructionAndEducationalSupportMember" xlink:label="loc_H456J84H45669KJ14908_stra_InstructionAndEducationalSupportMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_InstructionAndEducationalSupportMember" xml:lang="en-US">Instruction and Educational Support [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_InstructionAndEducationalSupportMember" xml:lang="en-US">Instruction and educational support [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_InstructionAndEducationalSupportMember" xml:lang="en-US">Instruction and educational support.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_InstructionAndEducationalSupportMember" xlink:to="lab_J678L06J67881ML36120_stra_InstructionAndEducationalSupportMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SellingAndMarketingExpenseMember" xlink:label="loc_HF82J1J2G963_us-gaap_SellingAndMarketingExpenseMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpenseMember" xml:lang="en-US">Selling and Marketing Expense [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpenseMember" xml:lang="en-US">Marketing [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SellingAndMarketingExpenseMember" xlink:to="lab_JH04L3L4I185_us-gaap_SellingAndMarketingExpenseMember"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_AdmissionsAdvisoryMember" xlink:label="loc_H456J84H45669KJ14908_stra_AdmissionsAdvisoryMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_AdmissionsAdvisoryMember" xml:lang="en-US">Admissions Advisory [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_AdmissionsAdvisoryMember" xml:lang="en-US">Admissions advisory [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_AdmissionsAdvisoryMember" xml:lang="en-US">Admissions advisory.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_AdmissionsAdvisoryMember" xlink:to="lab_J678L06J67881ML36120_stra_AdmissionsAdvisoryMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpenseMember" xlink:label="loc_HF82J1J2G963_us-gaap_GeneralAndAdministrativeExpenseMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpenseMember" xml:lang="en-US">General and Administrative Expense [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpenseMember" xml:lang="en-US">General and administration [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_GeneralAndAdministrativeExpenseMember" xlink:to="lab_JH04L3L4I185_us-gaap_GeneralAndAdministrativeExpenseMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:label="loc_H456J84H45669KJ14908_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xml:lang="en-US">Employee Service Share-Based Compensation, Allocation Of Recognized Period Costs [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:to="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xlink:label="loc_HF82J1J2G963_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xml:lang="en-US">Employee Service Share-Based Compensation, Aggregate Disclosures [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xml:lang="en-US">Schedule of stock-based compensation expense</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract" xlink:to="lab_JH04L3L4I185_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:label="loc_H456J84H45669KJ14908_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xml:lang="en-US">Employee Service Share-Based Compensation, Tax Benefit From Compensation Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xml:lang="en-US">Excess tax benefits (shortfall) related to share-based payment arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xml:lang="en-US">Tax benefit</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense" xlink:to="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:label="loc_HF82J1J2G963_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xml:lang="en-US">Allocated Share-Based Compensation Expense, Net Of Tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xml:lang="en-US">Stock-based compensation expense, net of income tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_JH04L3L4I185_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xml:lang="en-US">Stock-based compensation expense, net of income tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax" xlink:to="lab_JH04L3L4I185_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_H456J84H45669KJ14908_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xml:lang="en-US">Related Party [Axis]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_J678L06J67881ML36120_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_HF82J1J2G963_us-gaap_RelatedPartyDomain"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_RelatedPartyDomain" xml:lang="en-US">Related Party [Domain]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_RelatedPartyDomain" xlink:to="lab_JH04L3L4I185_us-gaap_RelatedPartyDomain"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BoardOfDirectorsChairmanMember" xlink:label="loc_H456J84H45669KJ14908_us-gaap_BoardOfDirectorsChairmanMember"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_BoardOfDirectorsChairmanMember" xml:lang="en-US">Board of Directors Chairman [Member]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_BoardOfDirectorsChairmanMember" xml:lang="en-US">Board of Directors [Member]</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_BoardOfDirectorsChairmanMember" xlink:to="lab_J678L06J67881ML36120_us-gaap_BoardOfDirectorsChairmanMember"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:label="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xml:lang="en-US">Additional shares authorized for grants</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized" xlink:to="lab_JH04L3L4I185_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xml:lang="en-US">Shares authorized for grants</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="lab_J678L06J67881ML36120_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:label="loc_HF82J1J2G963_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xml:lang="en-US">Vesting percentage</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage" xlink:to="lab_JH04L3L4I185_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xlink:label="loc_H456J84H45669KJ14908_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xml:lang="en-US">Vesting date</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xml:lang="en-US">Share based compensation arrangement by share based payment award award vesting date.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate" xlink:to="lab_J678L06J67881ML36120_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ClosingPriceOfStockOnDateOfStockGrant" xlink:label="loc_HF82J1J2G963_stra_ClosingPriceOfStockOnDateOfStockGrant"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_ClosingPriceOfStockOnDateOfStockGrant" xml:lang="en-US">Closing Price Of Stock On Date Of Stock Grant</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_ClosingPriceOfStockOnDateOfStockGrant" xml:lang="en-US">Closing price of stock on date of stock grant</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_ClosingPriceOfStockOnDateOfStockGrant" xml:lang="en-US">Closing price of stock on date of stock grant.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_ClosingPriceOfStockOnDateOfStockGrant" xlink:to="lab_JH04L3L4I185_stra_ClosingPriceOfStockOnDateOfStockGrant"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_MaximumTermOfAwardsGrantedUnderPlan" xlink:label="loc_H456J84H45669KJ14908_stra_MaximumTermOfAwardsGrantedUnderPlan"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_MaximumTermOfAwardsGrantedUnderPlan" xml:lang="en-US">Maximum Term Of Awards Granted Under Plan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_MaximumTermOfAwardsGrantedUnderPlan" xml:lang="en-US">Maximum term of the awards granted under the Plan</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_MaximumTermOfAwardsGrantedUnderPlan" xml:lang="en-US">Maximum term of the awards granted under the plan.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_MaximumTermOfAwardsGrantedUnderPlan" xlink:to="lab_J678L06J67881ML36120_stra_MaximumTermOfAwardsGrantedUnderPlan"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_HF82J1J2G963_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xml:lang="en-US">Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xml:lang="en-US">Stock-based compensation cost which has not yet been recognized</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:to="lab_JH04L3L4I185_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:label="loc_H456J84H45669KJ14908_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xml:lang="en-US">Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xml:lang="en-US">Stock-based compensation cost recognized period, in months</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xml:lang="en-US">Stock-based compensation cost recognized period, in months</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="lab_J678L06J67881ML36120_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RestrictedStockAwardSubjectToPerformanceCondition" xlink:label="loc_HF82J1J2G963_stra_RestrictedStockAwardSubjectToPerformanceCondition"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_RestrictedStockAwardSubjectToPerformanceCondition" xml:lang="en-US">Restricted Stock Award Subject To Performance Condition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_RestrictedStockAwardSubjectToPerformanceCondition" xml:lang="en-US">Restricted stock awarded subject to performance condition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_RestrictedStockAwardSubjectToPerformanceCondition" xml:lang="en-US">Restricted stock awarded subject to performance condition.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_RestrictedStockAwardSubjectToPerformanceCondition" xlink:to="lab_JH04L3L4I185_stra_RestrictedStockAwardSubjectToPerformanceCondition"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xlink:label="loc_H456J84H45669KJ14908_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Excess Tax Benefits Shortfall Related To Share Based Payment Arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Excess Tax Benefits Shortfall Related To Share Based Payment Arrangements</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Tax shortfall related to share-based payments</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xml:lang="en-US">Excess tax shortfall resulting from increases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return does not exceed compensation cot from equity based compensation recognized in financial statements. Excess tax benefits resulting from decreases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements" xlink:to="lab_J678L06J67881ML36120_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_LossOnFacilitiesNotInUse" xlink:label="loc_HF82J1J2G963_stra_LossOnFacilitiesNotInUse"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_LossOnFacilitiesNotInUse" xml:lang="en-US">Loss on facilities not in use</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_LossOnFacilitiesNotInUse" xml:lang="en-US">Represents loss on facilities not in use.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_LossOnFacilitiesNotInUse" xlink:to="lab_JH04L3L4I185_stra_LossOnFacilitiesNotInUse"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DeferredRevenueNoncurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Deferred Revenue, Noncurrent</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueNoncurrent" xml:lang="en-US">Deferred revenue, net of current portion</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DeferredRevenueNoncurrent" xlink:to="lab_J678L06J67881ML36120_us-gaap_DeferredRevenueNoncurrent"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_DeferredRentAndOtherFacilityCostsNonCurrent" xlink:label="loc_HF82J1J2G963_stra_DeferredRentAndOtherFacilityCostsNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xml:lang="en-US">Deferred Rent And Other Facility Costs Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xml:lang="en-US">Deferred rent and other facility costs</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xml:lang="en-US">Represents non-current deferred rent and other facility costs.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_DeferredRentAndOtherFacilityCostsNonCurrent" xlink:to="lab_JH04L3L4I185_stra_DeferredRentAndOtherFacilityCostsNonCurrent"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_DeferredAcquisitionPaymentsNonCurrent" xlink:label="loc_H456J84H45669KJ14908_stra_DeferredAcquisitionPaymentsNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_DeferredAcquisitionPaymentsNonCurrent" xml:lang="en-US">Deferred Acquisition Payments Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_DeferredAcquisitionPaymentsNonCurrent" xml:lang="en-US">Deferred payments related to acquisition</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_DeferredAcquisitionPaymentsNonCurrent" xml:lang="en-US">Represents non-current deferred payments related to acquisitions.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_DeferredAcquisitionPaymentsNonCurrent" xlink:to="lab_J678L06J67881ML36120_stra_DeferredAcquisitionPaymentsNonCurrent"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_LeaseIncentivePayableNonCurrent" xlink:label="loc_HF82J1J2G963_stra_LeaseIncentivePayableNonCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_LeaseIncentivePayableNonCurrent" xml:lang="en-US">Lease Incentive Payable Non Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_LeaseIncentivePayableNonCurrent" xml:lang="en-US">Lease incentives</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_LeaseIncentivePayableNonCurrent" xml:lang="en-US">Represents non-current lease incentive payable.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_LeaseIncentivePayableNonCurrent" xlink:to="lab_JH04L3L4I185_stra_LeaseIncentivePayableNonCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_H456J84H45669KJ14908_us-gaap_DeferredGainOnSaleOfProperty"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredGainOnSaleOfProperty" xml:lang="en-US">Deferred Gain On Sale Of Property</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_DeferredGainOnSaleOfProperty" xml:lang="en-US">Deferred gain on sale of campus building</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_DeferredGainOnSaleOfProperty" xlink:to="lab_J678L06J67881ML36120_us-gaap_DeferredGainOnSaleOfProperty"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ScheduleOfOtherLongTermLiabilitiesTable" xlink:label="loc_HF82J1J2G963_stra_ScheduleOfOtherLongTermLiabilitiesTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfOtherLongTermLiabilitiesTable" xml:lang="en-US">Schedule Of Other Long Term Liabilities [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfOtherLongTermLiabilitiesTable" xml:lang="en-US">Schedule Of Other Long Term Liabilities [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfOtherLongTermLiabilitiesTable" xml:lang="en-US">Schedule of other long term liabilities.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_ScheduleOfOtherLongTermLiabilitiesTable" xlink:to="lab_JH04L3L4I185_stra_ScheduleOfOtherLongTermLiabilitiesTable"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_OtherLongTermLiabilitiesLineItems" xlink:label="loc_H456J84H45669KJ14908_stra_OtherLongTermLiabilitiesLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_OtherLongTermLiabilitiesLineItems" xml:lang="en-US">Other Long Term Liabilities [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_OtherLongTermLiabilitiesLineItems" xml:lang="en-US">Other Long Term Liabilities [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_OtherLongTermLiabilitiesLineItems" xml:lang="en-US">Other long term liabilities.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_OtherLongTermLiabilitiesLineItems" xlink:to="lab_J678L06J67881ML36120_stra_OtherLongTermLiabilitiesLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_OtherLongTermLiabilitiesTextualAbstract" xlink:label="loc_HF82J1J2G963_stra_OtherLongTermLiabilitiesTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_OtherLongTermLiabilitiesTextualAbstract" xml:lang="en-US">Other Long Term Liabilities (Textual) [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_stra_OtherLongTermLiabilitiesTextualAbstract" xml:lang="en-US">Other Long -Term Liabilities (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_OtherLongTermLiabilitiesTextualAbstract" xlink:to="lab_JH04L3L4I185_stra_OtherLongTermLiabilitiesTextualAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xlink:label="loc_H456J84H45669KJ14908_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold Improvements Long Term Liability Amortization Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold improvements, long-term liability amortization period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold improvements and long-term liability amortization period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xml:lang="en-US">Leasehold improvements, long term liability amortization period.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod" xlink:to="lab_J678L06J67881ML36120_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xlink:label="loc_HF82J1J2G963_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xml:lang="en-US">Sale Leaseback Transaction, Gross Proceeds, Investing Activities</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xml:lang="en-US">Sale price of one of campus buildings</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xml:lang="en-US">Sale and lease back of Loudoun, Virginia campus building, sale price</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities" xlink:to="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionLeaseTerms" xlink:label="loc_H456J84H45669KJ14908_us-gaap_SaleLeasebackTransactionLeaseTerms"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_SaleLeasebackTransactionLeaseTerms" xml:lang="en-US">Sale Leaseback Transaction, Lease Terms</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_SaleLeasebackTransactionLeaseTerms" xml:lang="en-US">Sale and lease back term for most of the campus building</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_SaleLeasebackTransactionLeaseTerms" xlink:to="lab_J678L06J67881ML36120_us-gaap_SaleLeasebackTransactionLeaseTerms"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:label="loc_HF82J1J2G963_us-gaap_SaleLeasebackTransactionDeferredGainGross"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionDeferredGainGross" xml:lang="en-US">Sale Leaseback Transaction, Deferred Gain, Gross</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionDeferredGainGross" xml:lang="en-US">Gain on sale and lease back of one of campus buildings before tax</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionDeferredGainGross" xml:lang="en-US">Gain on sale and lease back of one of campus buildings before tax</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SaleLeasebackTransactionDeferredGainGross" xlink:to="lab_JH04L3L4I185_us-gaap_SaleLeasebackTransactionDeferredGainGross"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_FundsReceivedFromInvestor" xlink:label="loc_H456J84H45669KJ14908_stra_FundsReceivedFromInvestor"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_FundsReceivedFromInvestor" xml:lang="en-US">Funds Received From Investor</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_stra_FundsReceivedFromInvestor" xml:lang="en-US">Funds received from investor</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_FundsReceivedFromInvestor" xml:lang="en-US">Seller's contribution to the Company representing the seller's continuing interest in the assets acquired.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_FundsReceivedFromInvestor" xlink:to="lab_J678L06J67881ML36120_stra_FundsReceivedFromInvestor"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_SaleLeaseBackTransactionLeaseTermOne" xlink:label="loc_HF82J1J2G963_stra_SaleLeaseBackTransactionLeaseTermOne"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_SaleLeaseBackTransactionLeaseTermOne" xml:lang="en-US">Sale Lease Back Transaction Lease Term One</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_SaleLeaseBackTransactionLeaseTermOne" xml:lang="en-US">Sale and lease back term</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_SaleLeaseBackTransactionLeaseTermOne" xml:lang="en-US">Represents the lease term of the asset leased back in a sale and lease back transaction.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_SaleLeaseBackTransactionLeaseTermOne" xlink:to="lab_JH04L3L4I185_stra_SaleLeaseBackTransactionLeaseTermOne"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_SaleLeaseBackTransactionNumberOfAssetsSold" xlink:label="loc_H456J84H45669KJ14908_stra_SaleLeaseBackTransactionNumberOfAssetsSold"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xml:lang="en-US">Sale Lease Back Transaction Number Of Assets Sold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xml:lang="en-US">Number of assets sold</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xml:lang="en-US">Represents the number of assets sold in a sale lease back transaction.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_SaleLeaseBackTransactionNumberOfAssetsSold" xlink:to="lab_J678L06J67881ML36120_stra_SaleLeaseBackTransactionNumberOfAssetsSold"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_DeferredPaymentArrangementValue" xlink:label="loc_HF82J1J2G963_stra_DeferredPaymentArrangementValue"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_DeferredPaymentArrangementValue" xml:lang="en-US">Deferred Payment Arrangement Value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_DeferredPaymentArrangementValue" xml:lang="en-US">Deferred payment arrangements value</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_DeferredPaymentArrangementValue" xml:lang="en-US">The value of the deferred payment arrangement with one of the sellers in connection with an acquisition.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_DeferredPaymentArrangementValue" xlink:to="lab_JH04L3L4I185_stra_DeferredPaymentArrangementValue"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_IncomeTaxesTextualAbstract" xlink:label="loc_H456J84H45669KJ14908_stra_IncomeTaxesTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_IncomeTaxesTextualAbstract" xml:lang="en-US">Income Taxes (Textual)</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_IncomeTaxesTextualAbstract" xlink:to="lab_J678L06J67881ML36120_stra_IncomeTaxesTextualAbstract"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilityForUncertainTaxPositionsCurrent" xlink:label="loc_HF82J1J2G963_us-gaap_LiabilityForUncertainTaxPositionsCurrent"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilityForUncertainTaxPositionsCurrent" xml:lang="en-US">Liability for Uncertain Tax Positions, Current</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_LiabilityForUncertainTaxPositionsCurrent" xml:lang="en-US">Liability for uncertain tax positions, current</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_LiabilityForUncertainTaxPositionsCurrent" xlink:to="lab_JH04L3L4I185_us-gaap_LiabilityForUncertainTaxPositionsCurrent"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_H456J84H45669KJ14908_us-gaap_UnrecognizedTaxBenefits"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Unrecognized Tax Benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Unrecognized tax benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Beginning unrecognized tax benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_UnrecognizedTaxBenefits" xml:lang="en-US">Ending unrecognized tax benefits</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_UnrecognizedTaxBenefits" xlink:to="lab_J678L06J67881ML36120_us-gaap_UnrecognizedTaxBenefits"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:label="loc_HF82J1J2G963_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xml:lang="en-US">Unrecognized Tax Benefits that Would Impact Effective Tax Rate</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xml:lang="en-US">Unrecognized tax benefits that affects company's effective tax rate</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate" xlink:to="lab_JH04L3L4I185_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod" xlink:label="loc_H456J84H45669KJ14908_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod" xml:lang="en-US">Unrecognized Tax Benefit To Recognized In Current Period</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod" xml:lang="en-US">Recognition of tax benefits</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod" xml:lang="en-US">The amount of tax benefits recognized due to the expiration of the statute of limitations.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod" xlink:to="lab_J678L06J67881ML36120_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xlink:label="loc_HF82J1J2G963_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xml:lang="en-US">Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xml:lang="en-US">Reduction of unrecognized tax benefits in the next twelve months, due to expiration of applicable statues of limitation</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit" xlink:to="lab_JH04L3L4I185_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit"/>
<loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:label="loc_H456J84H45669KJ14908_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xml:lang="en-US">Income Tax Examination, Penalties and Interest Expense</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_J678L06J67881ML36120_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xml:lang="en-US">Amount of interest and penalties</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense" xlink:to="lab_J678L06J67881ML36120_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_ScheduleOfRegulationTable" xlink:label="loc_HF82J1J2G963_stra_ScheduleOfRegulationTable"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfRegulationTable" xml:lang="en-US">Schedule of Regulation [Table]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_ScheduleOfRegulationTable" xml:lang="en-US">Schedule Of Regulation.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_ScheduleOfRegulationTable" xlink:to="lab_JH04L3L4I185_stra_ScheduleOfRegulationTable"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RegulationLineItems" xlink:label="loc_H456J84H45669KJ14908_stra_RegulationLineItems"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_RegulationLineItems" xml:lang="en-US">Regulation [Line Items]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_J678L06J67881ML36120_stra_RegulationLineItems" xml:lang="en-US">Regulation line items.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_H456J84H45669KJ14908_stra_RegulationLineItems" xlink:to="lab_J678L06J67881ML36120_stra_RegulationLineItems"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_RegulationTextualAbstract" xlink:label="loc_HF82J1J2G963_stra_RegulationTextualAbstract"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_JH04L3L4I185_stra_RegulationTextualAbstract" xml:lang="en-US">Regulation Textual [Abstract]</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_JH04L3L4I185_stra_RegulationTextualAbstract" xml:lang="en-US">Regulation (Textual)</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="lab_JH04L3L4I185_stra_RegulationTextualAbstract" xml:lang="en-US">Regulation Textual Abstract.</label>
<labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_HF82J1J2G963_stra_RegulationTextualAbstract" xlink:to="lab_JH04L3L4I185_stra_RegulationTextualAbstract"/>
<loc xlink:type="locator" xlink:href="stra-20150930.xsd#stra_AverageOfMedianAnnualEarningPercentage" xlink:label="loc_H456J84H45669KJ14908_stra_AverageOfMedianAnnualEarningPercentage"/>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_J678L06J67881ML36120_stra_AverageOfMedianAnnualEarningPercentage" xml:lang="en-US">Average Of Median Annual Earning Percentage</label>
<label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_J678L06J67881ML36120_stra_AverageOfMedianAnnualEarningPercentage" xml:lang="en-US">Average of median annual earning percentage</label>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490546400">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details Textual) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 28, 2015</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>May. 31, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized', window );">Additional shares authorized for grants</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">500,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">10 years<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Stock-based compensation cost which has not yet been recognized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Stock-based compensation cost recognized period, in months</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">35 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RestrictedStockAwardSubjectToPerformanceCondition', window );">Restricted stock awarded subject to performance condition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">467,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements', window );">Tax shortfall related to share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000.0<span></span>
</td>
<td class="nump">$ 1.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Stock options exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember', window );">Board of Directors [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Shares authorized for grants</a></td>
<td class="nump">71,991<span></span>
</td>
<td class="nump">13,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40,867<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage', window );">Vesting percentage</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate', window );">Vesting date</a></td>
<td class="text">Feb. 28,  2019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ClosingPriceOfStockOnDateOfStockGrant', window );">Closing price of stock on date of stock grant</a></td>
<td class="nump">$ 70.15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 48.94<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ClosingPriceOfStockOnDateOfStockGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Closing price of stock on date of stock grant.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ClosingPriceOfStockOnDateOfStockGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess tax shortfall resulting from increases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return does not exceed compensation cot from equity based compensation recognized in financial statements. Excess tax benefits resulting from decreases in the entity's income taxes that arise when compensation cost (from non-qualified share-based compensation) recognized on the entity's tax return exceeds compensation cost from equity-based compensation recognized in financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ExcessTaxBenefitsShortfallRelatedToShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumTermOfAwardsGrantedUnderPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum term of the awards granted under the plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumTermOfAwardsGrantedUnderPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_RestrictedStockAwardSubjectToPerformanceCondition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Restricted stock awarded subject to performance condition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RestrictedStockAwardSubjectToPerformanceCondition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share based compensation arrangement by share based payment award award vesting date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of additional shares authorized for issuance under an established share-based compensation plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of vesting of share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_BoardOfDirectorsChairmanMember</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703499538816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Details 1) - Deferred Payments [Member]<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward', window );"><strong>Schedule of changes in fair value of level 3 liability</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance at December 31, 2014</a></td>
<td class="nump">$ 2,398<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements', window );">Amounts earned</a></td>
<td class="num">(534)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease', window );">Adjustments to fair value</a></td>
<td class="nump">$ 1,168<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet', window );">Transfers in or out of Level 3</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance at September 30, 2015</a></td>
<td class="nump">$ 3,032<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of settlements of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of transfers of financial instrument classified as a liability into (out of) level 3 of the fair value hierarchy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByLiabilityClassAxis=stra_DeferredPaymentsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703502796480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundLiabilityAbstract', window );"><strong>Graduation fund liability</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundLiability', window );">Balance at December 31, 2014</a></td>
<td class="nump">$ 9,706<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RevenueDeferred', window );">Revenue deferred</a></td>
<td class="nump">12,423<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_BenefitRedeemed', window );">Benefit redeemed</a></td>
<td class="num">(3,974)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundLiability', window );">Balance at September 30, 2015</a></td>
<td class="nump">$ 18,155<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_BenefitRedeemed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Current year redemptions of graduation fund credits by students.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_BenefitRedeemed</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to graduation fund liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_GraduationFundLiability</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Graduation Fund Liability [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_GraduationFundLiabilityAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional graduation fund liability generated in the current year for services to be performed in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RevenueDeferred</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703493596544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Details)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_IncomeTaxesTextualAbstract', window );"><strong>Income Taxes (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilityForUncertainTaxPositionsCurrent', window );">Liability for uncertain tax positions, current</a></td>
<td class="nump">$ 0.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Unrecognized tax benefits</a></td>
<td class="nump">2.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate', window );">Unrecognized tax benefits that affects company's effective tax rate</a></td>
<td class="nump">0.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod', window );">Recognition of tax benefits</a></td>
<td class="nump">0.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit', window );">Reduction of unrecognized tax benefits in the next twelve months, due to expiration of applicable statues of limitation</a></td>
<td class="nump">0.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense', window );">Amount of interest and penalties</a></td>
<td class="nump">$ 0.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_IncomeTaxesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_IncomeTaxesTextualAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax benefits recognized due to the expiration of the statute of limitations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_UnrecognizedTaxBenefitToRecognizedInCurrentPeriod</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExaminationPenaltiesAndInterestExpense</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilityForUncertainTaxPositionsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current portion of the amount recognized for uncertain tax positions as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilityForUncertainTaxPositionsCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the unrecognized tax benefit of a position taken for which it is reasonably possible that the total amount thereof will significantly increase or decrease within twelve months of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of unrecognized tax benefits pertaining to uncertain tax positions taken in tax returns.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15A<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Unrecognized Tax Benefit<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6527854<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefits</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15A<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=SL6600010-109319<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703497411168">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details 1) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Schedule of stock option activity and other stock option information</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercises, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Stock options [Member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Schedule of stock option activity and other stock option information</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Beginning Balance, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Grants, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercises, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Forfeitures/Expirations, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Ending Balance, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Exercisable, Number of shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Beginning Balance, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Grants, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercises, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Forfeitures/Expirations, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Ending Balance, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="nump">$ 51.95<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Exercisable, Weighted-average exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 51.95<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted-average remaining contractual life (years)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">5 years 3 months 18 days<span></span>
</td>
<td class="text">6 years<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Exercisable, Weighted-average remaining contractual life (years)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">5 years 3 months 18 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Beginning Balance, Aggregate intrinsic value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 2,233<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Ending Balance, Aggregate intrinsic value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">302<span></span>
</td>
<td class="nump">$ 2,233<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Exercisable, Aggregate intrinsic value</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">$ 302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">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.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703701899104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies</a></td>
<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><b>2.&#160;</b></font></td><td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><b>Significant Accounting Policies</b></font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Financial Statement Presentation</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The consolidated financial statements include the accounts of the Company and its only subsidiary, the University. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">All information as of December&#160;31, 2014 and September&#160;30, 2014 and 2015, and for the three and nine months ended September 30, 2014 and 2015 is unaudited but, in the opinion of management, contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the condensed consolidated financial position, results of operations, and cash flows of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2014. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the full fiscal year.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Revenue Recognition</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The Company&#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&#8217;s quarterly financial reporting periods. Approximately 96% of the Company&#8217;s revenues during the nine months ended September 30, 2015 consisted of tuition revenue, which
 is recognized
 in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&#8217;s ability to pay, including the timing of a student&#8217;s withdrawal from a program of study.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. 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A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The tax years 2011-2014 remain open to examination by various taxing jurisdictions in which the Company is subject.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><br
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 10pt;"><font style="font-size: 10pt;"><i>Use of Estimates</i>&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates include allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Recent Accounting Pronouncements</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">In May 2014, the FASB issued ASU No. 2014-09, &#8220;Revenue from Contracts with Customers (Topic 606)&#8221; (&#8220;ASU 2014-09&#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 was recently amended to defer the effective date to fiscal years beginning after December 15, 2017, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">In April 2015, the FASB issued ASU No. 2015-03, &#8220;Interest - Imputation of Interest (Subtopic 835-30)&#8221; (&#8220;ASU 2015-03&#8221;). 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703496682208">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Regulation (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Apr. 29, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationTextualAbstract', window );"><strong>Regulation (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianAnnualEarningPercentage', window );">Average of median annual earning percentage</a></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianDiscretionaryPercentage', window );">Average of median discretionary percentage</a></td>
<td class="nump">20.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ThresholdForProgramToFail', window );">Debt to earnings rates description</a></td>
<td class="text">A program would fail if the program's graduates have an annual earnings rate of 12% or greater and a discretionary income rate of 30% or greater.<span></span>
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<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AmountDueToDepartmentOfEducation', window );">Amount due to Department of Education</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 500<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationTextualAbstract', window );"><strong>Regulation (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianAnnualEarningPercentage', window );">Average of median annual earning percentage</a></td>
<td class="nump">8.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianDiscretionaryPercentage', window );">Average of median discretionary percentage</a></td>
<td class="nump">20.00%<span></span>
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<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationTextualAbstract', window );"><strong>Regulation (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianAnnualEarningPercentage', window );">Average of median annual earning percentage</a></td>
<td class="nump">12.00%<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AverageOfMedianDiscretionaryPercentage', window );">Average of median discretionary percentage</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due to the Department of Education based on an underpayment on a return to Title IV calculation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average of median annual earning percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AverageOfMedianAnnualEarningPercentage</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average of median discretionary percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AverageOfMedianDiscretionaryPercentage</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Regulation Textual Abstract.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RegulationTextualAbstract</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ThresholdForProgramToFail">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Threshold for program to fail.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<head>
<title></title>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490918480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details Textual) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SignificantAccountingPoliciesTextualAbstract', window );"><strong>Significant Accounting Policies (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_PercentageOfTuitionRevenueInRevenue', window );">Percentage of tuition revenue in total revenue</a></td>
<td class="nump">96.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_UnusedBooksAndAcademicMaterialRefundablePeriod', window );">Unused books and academic material refundable period</a></td>
<td class="text">21 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">$ 0.7<span></span>
</td>
<td class="nump">$ 0.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetNoncurrent', window );">Tuition receivable included in other assets</a></td>
<td class="nump">$ 1.9<span></span>
</td>
<td class="nump">1.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ExpectedCollectionPeriodOfTuitionReceivable', window );">Expected collection period of tuition receivable</a></td>
<td class="text">After 12 months<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent', window );">Minimum protective endowment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">20,000,000<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">11,028,265<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
<td class="nump">11,028,265<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
<td class="nump">8,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExaminationDescription', window );">Income tax description</a></td>
<td class="text">Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths', window );">Graduation fund estimated to be redeemed</a></td>
<td class="nump">$ 9.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetImpairment', window );">Goodwill and intangible assets impairment</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated amount of graduation fund to be redeemed in the next twelve months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_EstimatedGraduationFundToBeRedeemedNextTwelveMonths</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_ExpectedCollectionPeriodOfTuitionReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected collection period of tuition receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_ExpectedCollectionPeriodOfTuitionReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_PercentageOfTuitionRevenueInRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of tuition revenue in total revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_PercentageOfTuitionRevenueInRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SignificantAccountingPoliciesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Significant accounting policies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SignificantAccountingPoliciesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_UnusedBooksAndAcademicMaterialRefundablePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period to return unused books and related academic materials in order to receive a full refund.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_UnusedBooksAndAcademicMaterialRefundablePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, more than one year from the balance sheet date, for goods or services that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetImpairment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAndIntangibleAssetImpairment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExaminationDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (d)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExaminationDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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</div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703488330208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 3) - shares<br> shares in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract', window );"><strong>Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average shares outstanding used to compute basic earnings per share</a></td>
<td class="nump">10,593<span></span>
</td>
<td class="nump">10,571<span></span>
</td>
<td class="nump">10,586<span></span>
</td>
<td class="nump">10,555<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends', window );">Unvested restricted stock</a></td>
<td class="nump">143<span></span>
</td>
<td class="nump">92<span></span>
</td>
<td class="nump">140<span></span>
</td>
<td class="nump">67<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Shares used to compute diluted earnings per share</a></td>
<td class="nump">10,736<span></span>
</td>
<td class="nump">10,663<span></span>
</td>
<td class="nump">10,726<span></span>
</td>
<td class="nump">10,622<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Nonvested equity-based payment awards that contain forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) that result in incremental common shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 68B<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=SL5498026-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703499314512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr><th class="th" colspan="2">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserveRollForward', window );"><strong>Schedule of restructuring liability</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Balance at December 31, 2014</a></td>
<td class="nump">$ 27,283<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred', window );">Non-cash adjustments</a></td>
<td class="nump">265<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRestructuring', window );">Payments</a></td>
<td class="num">(5,040)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserve', window );">Balance at September 30, 2015</a></td>
<td class="nump">$ 22,508<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The current portion of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities in the unaudited condensed consolidated balance sheets.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Non-cash adjustments for lease and related costs include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_RestructruingReserveAccrualAdjustmentsSettledIncurred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount and any adjustment to the restructuring reserve (settled) incurred during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_RestructruingReserveAccrualAdjustmentsSettledIncurred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRestructuring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash payments made as the result of exit or disposal activities. Excludes payments associated with a discontinued operation or an asset retirement obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRestructuring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 5.P.4(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 5<br><br><br><br> -Section P<br><br><br><br> -Subsection 3, 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringReserveRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringReserveRollForward</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<head>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703503158784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($) </div>
<div>Campus</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringReserveCurrent', window );">Restructuring liabilities</a></td>
<td class="nump">$ 5.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CampusLocationClosed', window );">Campus location closed | Campus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseTermExpire', window );">Lease term expire</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MarginalBorrowingRateOfLease', window );">Lease marginal borrowing rate</a></td>
<td class="nump">4.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember', window );">Lease and Related Costs, Net [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringCostAndReserveLineItems', window );"><strong>Restructuring Cost and Reserve [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligation', window );">Contractual obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 36.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_CampusLocationClosed">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Campus location closed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_CampusLocationClosed</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The last year for which all current leases will expire.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseTermExpire</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Marginal borrowing rate of lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MarginalBorrowingRateOfLease</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation, including but not limited to, long-term debt, capital lease obligations, operating lease obligations, purchase obligations, and other commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligation</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCostAndReserveLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringReserveCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 5<br><br><br><br> -Section P<br><br><br><br> -Subsection 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringReserveCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringCostAndReserveAxis=stra_LeaseAndRelatedCostsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703697510592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Operations<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Nature of Operations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Nature of Operations</a></td>
<td class="text"><div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 50.4px; text-align: justify; text-indent: 0px;"><b>1.&#160;</b></td><td style="padding: 0px; width: 1200px; text-align: justify; text-indent: 0px;"><b>Nature of Operations</b></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Strayer Education, Inc. (the &#8220;Company&#8221;), a Maryland corporation, conducts its operations through its wholly owned subsidiary, Strayer University (the &#8220;University&#8221;). The University is an accredited institution of higher education that provides undergraduate and graduate degrees in various fields of study through physical campuses, predominantly located in the eastern United States, and online. With the Company&#8217;s focus on the student, regardless of whether he or she chooses to take classes at a physical campus or online, it has only one reporting segment.</p></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6003-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=SL51803626-108592<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703485518896">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Value Measurement (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 8,418<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">3,032<span></span>
</td>
<td class="nump">2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentAxis=us-gaap_MoneyMarketFundsMember', window );">Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">100<span></span>
</td>
<td class="nump">8,275<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentAxis=stra_DeferredPaymentsMember', window );">Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">3,032<span></span>
</td>
<td class="nump">2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember', window );">Interest rate swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 8,275<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 8,275<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Interest rate swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 143<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Significant Other Observable Inputs (Level 2) [Member] | Interest rate swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 143<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">$ 3,032<span></span>
</td>
<td class="nump">$ 2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member] | Money market funds [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member] | Deferred payments [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLiabilitiesFairValueAbstract', window );"><strong>Other liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Total liabilities at fair value on a recurring basis</a></td>
<td class="nump">$ 3,032<span></span>
</td>
<td class="nump">$ 2,398<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Significant Unobservable Inputs (Level 3) [Member] | Interest rate swap [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_CashEquivalentsFairValueAbstract', window );"><strong>Cash equivalents:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Total assets at fair value on a recurring basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_CashEquivalentsFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash equivalents fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_CashEquivalentsFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_OtherLiabilitiesFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other liabilities fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_OtherLiabilitiesFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsFairValueDisclosureRecurring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsFairValueDisclosureRecurring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosureRecurring">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesFairValueDisclosureRecurring</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=us-gaap_MoneyMarketFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=us-gaap_MoneyMarketFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=stra_DeferredPaymentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=stra_DeferredPaymentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703687982320">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Long-Term Liabilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrentAbstract', window );"><strong>Other Long-Term Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LossOnFacilitiesNotInUse', window );">Loss on facilities not in use</a></td>
<td class="nump">$ 17,414<span></span>
</td>
<td class="nump">$ 21,280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Deferred revenue, net of current portion</a></td>
<td class="nump">10,721<span></span>
</td>
<td class="nump">9,654<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredRentAndOtherFacilityCostsNonCurrent', window );">Deferred rent and other facility costs</a></td>
<td class="nump">8,713<span></span>
</td>
<td class="nump">8,646<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredAcquisitionPaymentsNonCurrent', window );">Deferred payments related to acquisition</a></td>
<td class="nump">5,832<span></span>
</td>
<td class="nump">5,198<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseIncentivePayableNonCurrent', window );">Lease incentives</a></td>
<td class="nump">2,678<span></span>
</td>
<td class="nump">1,056<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredGainOnSaleOfProperty', window );">Deferred gain on sale of campus building</a></td>
<td class="nump">203<span></span>
</td>
<td class="nump">414<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent', window );">Total other long-term liabilities</a></td>
<td class="nump">$ 45,561<span></span>
</td>
<td class="nump">$ 46,248<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredAcquisitionPaymentsNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents non-current deferred payments related to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredAcquisitionPaymentsNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredRentAndOtherFacilityCostsNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents non-current deferred rent and other facility costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredRentAndOtherFacilityCostsNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LeaseIncentivePayableNonCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents non-current lease incentive payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseIncentivePayableNonCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LossOnFacilitiesNotInUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents loss on facilities not in use.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LossOnFacilitiesNotInUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredGainOnSaleOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain on the sale of property that does not qualify for gain recognition as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 40<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 5.U.Q2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6955272&amp;loc=d3e221323-122791<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredGainOnSaleOfProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregated carrying amounts of obligations as of the balance sheet date, excluding long-term debt, incurred as part of the normal operations that are expected to be paid after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Credits and Other Liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>

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</DOCUMENT>
<DOCUMENT>
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<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490561344">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Condensed Consolidated Balance Sheets - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 86,917<span></span>
</td>
<td class="nump">$ 162,283<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Tuition receivable, net</a></td>
<td class="nump">17,064<span></span>
</td>
<td class="nump">16,942<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">15,745<span></span>
</td>
<td class="nump">17,426<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">119,726<span></span>
</td>
<td class="nump">196,651<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="nump">78,589<span></span>
</td>
<td class="nump">82,266<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetNoncurrent', window );">Deferred income taxes</a></td>
<td class="nump">19,471<span></span>
</td>
<td class="nump">16,241<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill</a></td>
<td class="nump">6,800<span></span>
</td>
<td class="nump">6,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other assets</a></td>
<td class="nump">5,687<span></span>
</td>
<td class="nump">5,857<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">230,273<span></span>
</td>
<td class="nump">307,815<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">44,459<span></span>
</td>
<td class="nump">43,836<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TaxesPayableCurrent', window );">Income taxes payable</a></td>
<td class="nump">1,054<span></span>
</td>
<td class="nump">1,286<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue</a></td>
<td class="nump">11,741<span></span>
</td>
<td class="nump">4,682<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Other current liabilities</a></td>
<td class="nump">$ 281<span></span>
</td>
<td class="nump">281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion of term loan</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">6,250<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">$ 57,535<span></span>
</td>
<td class="nump">56,335<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Term loan, less current portion</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">112,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent', window );">Other long-term liabilities</a></td>
<td class="nump">$ 45,561<span></span>
</td>
<td class="nump">46,248<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 103,096<span></span>
</td>
<td class="nump">$ 215,083<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, par value $0.01; 20,000,000 shares authorized; 10,903,341 and 11,028,265 shares issued and outstanding at December 31, 2014 and September 30, 2015, respectively</a></td>
<td class="nump">$ 110<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">22,100<span></span>
</td>
<td class="nump">14,550<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">$ 104,967<span></span>
</td>
<td class="nump">77,985<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">$ 127,177<span></span>
</td>
<td class="nump">92,732<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders' equity</a></td>
<td class="nump">$ 230,273<span></span>
</td>
<td class="nump">$ 307,815<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31931-109318<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31928-109318<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31958-109318<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e31917-109318<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35741047&amp;loc=d3e13816-109267<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388280&amp;loc=d3e13770-109266<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregated carrying amounts of obligations as of the balance sheet date, excluding long-term debt, incurred as part of the normal operations that are expected to be paid after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Credits and Other Liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesOtherThanLongtermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6904-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TaxesPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for statutory income, sales, use, payroll, excise, real, property and other taxes. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TaxesPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490680112">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Common Stock</div></th>
<th class="th"><div>Additional Paid-in Capital</div></th>
<th class="th"><div>Retained Earnings</div></th>
<th class="th"><div>Accumulated Other Comprehensive Income (Loss)</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Beginning balance at Dec. 31, 2013</a></td>
<td class="nump">$ 38,902<span></span>
</td>
<td class="nump">$ 108<span></span>
</td>
<td class="nump">$ 7,137<span></span>
</td>
<td class="nump">$ 31,629<span></span>
</td>
<td class="nump">$ 28<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Beginning balance, shares at Dec. 31, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,797,464<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation', window );">Tax shortfall associated with stock-based compensation arrangements</a></td>
<td class="num">$ (1,811)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,811)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures and conversions</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures and conversions, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">105,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation</a></td>
<td class="nump">$ 7,058<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 7,058<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="nump">156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 156<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">33,413<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 33,413<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending balance at Sep. 30, 2014</a></td>
<td class="nump">77,718<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
<td class="nump">$ 12,383<span></span>
</td>
<td class="nump">65,042<span></span>
</td>
<td class="nump">$ 184<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Ending balance, shares at Sep. 30, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Beginning balance at Dec. 31, 2014</a></td>
<td class="nump">92,732<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
<td class="nump">14,550<span></span>
</td>
<td class="nump">$ 77,985<span></span>
</td>
<td class="nump">$ 88<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Beginning balance, shares at Dec. 31, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation', window );">Tax shortfall associated with stock-based compensation arrangements</a></td>
<td class="num">$ (25)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(25)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures and conversions</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Restricted stock grants, net of forfeitures and conversions, shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">124,924<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Stock-based compensation</a></td>
<td class="nump">$ 7,576<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 7,576<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="num">(88)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">$ (88)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">26,982<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 26,982<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending balance at Sep. 30, 2015</a></td>
<td class="nump">$ 127,177<span></span>
</td>
<td class="nump">$ 110<span></span>
</td>
<td class="nump">$ 22,100<span></span>
</td>
<td class="nump">$ 104,967<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Ending balance, shares at Sep. 30, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,028,265<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in additional paid in capital (APIC) resulting from a tax deficiency associated with a share-based compensation plan other than an employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalIncomeTaxDeficiencyFromShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10A<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax</td>
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<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703497190688">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loan and Revolving Credit Facility (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th">
<div>Jul. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2014 </div>
<div>USD ($)</div>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="nump">$ 150,000,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MaximumAggregateIncrementalTermLoans', window );">Maximum aggregate incremental term loans</a></td>
<td class="nump">$ 50,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">Jul.  02,  2020<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 100,000<span></span>
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<td class="nump">$ 1,100,000<span></span>
</td>
<td class="nump">$ 2,300,000<span></span>
</td>
<td class="nump">$ 3,400,000<span></span>
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</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCovenantTerms', window );">Covenant terms required by credit facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text"><div><br class="apple-interchange-newline" /><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 0.25in; text-indent: 0px;"></td><td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">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).</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 397.8pt 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 0.25in; text-indent: 0px;"></td><td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">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.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 397.8pt 0px 0.5in; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-family: 'times new roman', times, serif;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 0.25in; text-indent: 0px;"></td><td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font-family: 'times new roman', times, serif;">a Department of Education Financial Responsibility Composite Score of not less than 1.5.</font></td></tr></table></div><span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility', window );">Maximum total leverage ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility', window );">Minimum coverage ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility', window );">Minimum department of education financial composite score</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Revolving credit facility, outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.40%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Base Rate [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Debt instrument description of variable rate basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Base rate<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Debt instrument description of variable rate basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">LIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember', window );">Revolving Credit Facility [Member] | Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract', window );"><strong>Term Loan and Revolving Credit Facility (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Margin rate for interest if using base rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage', window );">Unused commitment fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.35%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumAggregateIncrementalTermLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum value of the option to increase the commitments under the revolver or establish one or more incremental term loans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumAggregateIncrementalTermLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum leverage ratio to be maintained under credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MaximumLeverageRatioToBeMaintainedUnderCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum coverage ratio to be maintained under credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MinimumCoverageRatioToBeMaintainedUnderCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum department of education financial composite score to be maintained under credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_MinimumDepartmentOfEducationFinancialCompositeScoreToBeMaintainedUnderCreditFacility</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_TermLoanAndRevolvingCreditFacilityTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_TermLoanAndRevolvingCreditFacilityTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentDescriptionOfVariableRateBasis</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaid</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityCovenantTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the conditions for borrowing under the credit facility including the nature of any restrictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityCovenantTerms</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityExpirationDate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the credit facility terminates, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityExpirationDate1</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock', window );">Schedule of restricted stock and restricted stock units activity</a></td>
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</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of stock option activity and other stock option information</a></td>
<td class="text"><div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td><font style="font-size: 10pt;">&#160;</font></td><td style="padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-size: 10pt;">Number&#160;of&#160;<br />shares</font></td><td style="padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2"><font style="font-size: 10pt;">Weighted-average exercise&#160;price</font></td><td style="padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: center; 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border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: left; padding-bottom: 1.5pt;"><font style="font-size: 10pt;">&#160;</font></td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 4pt; padding-left: 10pt;"><font style="font-size: 10pt;">Balance, September 30, 2015</font></td><td style="padding-bottom: 4pt;"><font style="font-size: 10pt;">&#160;</font></td><td style="text-align: left; 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width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0"
 cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 50.4px; text-align: justify; text-indent: 0px;"><font style="font-size:
 10pt;"><sup>(1)&#160;&#160;</sup></font></td><td style="padding: 0px; width: 1200px; text-align: justify; text-indent: 0px;"><font style="font-size: 10pt;">The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company&#8217;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&#8217;s common stock.</font></td></tr></table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Schedule of stock-based compensation expense</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the changes in outstanding nonvested restricted stock units.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490880304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details) - Restricted stock and restricted stock units [Member]<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2015 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Schedule of restricted stock and restricted stock units activity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Beginning Balance, Number of shares or units | shares</a></td>
<td class="nump">524,216<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Grants, Number of shares or units | shares</a></td>
<td class="nump">126,655<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested shares, Number of shares or units | shares</a></td>
<td class="num">(13,725)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeitures, Number of shares or units | shares</a></td>
<td class="num">(1,731)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Ending Balance, Number of shares or units | shares</a></td>
<td class="nump">635,415<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Beginning Balance, Weighted-average grant price</a></td>
<td class="nump">$ 115.67<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Grants, Weighted-average grant price</a></td>
<td class="nump">61.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested shares, Weighted-average grant price</a></td>
<td class="nump">52.94<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeitures, Weighted-average grant price</a></td>
<td class="nump">115.55<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Ending Balance, Weighted-average grant price</a></td>
<td class="nump">$ 104.64<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<div>Sep. 30, 2015 </div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<html>
<head>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490545168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 26,982<span></span>
</td>
<td class="nump">$ 33,413<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AmortizationOfGainOnSaleOfAssets', window );">Amortization of gain on sale of assets</a></td>
<td class="num">(210)<span></span>
</td>
<td class="num">(210)<span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AmortizationOfDeferredRent', window );">Amortization of deferred rent</a></td>
<td class="num">(417)<span></span>
</td>
<td class="num">(754)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of deferred financing costs</a></td>
<td class="nump">1,163<span></span>
</td>
<td class="nump">585<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">13,711<span></span>
</td>
<td class="nump">15,782<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome', window );">Deferred income taxes</a></td>
<td class="num">(3,358)<span></span>
</td>
<td class="num">(514)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation</a></td>
<td class="nump">7,576<span></span>
</td>
<td class="nump">7,058<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Tuition receivable, net</a></td>
<td class="num">(435)<span></span>
</td>
<td class="nump">1,813<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Other current assets</a></td>
<td class="nump">1,402<span></span>
</td>
<td class="num">(739)<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">147<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">1,023<span></span>
</td>
<td class="nump">10,215<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Income taxes payable and income taxes receivable</a></td>
<td class="nump">205<span></span>
</td>
<td class="num">(27)<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="nump">8,126<span></span>
</td>
<td class="nump">8,108<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities', window );">Other long-term liabilities</a></td>
<td class="num">(1,949)<span></span>
</td>
<td class="num">(12,764)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">53,821<span></span>
</td>
<td class="nump">62,113<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchases of property and equipment</a></td>
<td class="num">(9,587)<span></span>
</td>
<td class="num">(4,058)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
<td class="num">(9,587)<span></span>
</td>
<td class="num">(4,058)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Payments on term loan</a></td>
<td class="num">(118,750)<span></span>
</td>
<td class="num">$ (2,344)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Payment of deferred financing costs</a></td>
<td class="num">(850)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
<td class="num">(119,600)<span></span>
</td>
<td class="num">$ (2,344)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase (decrease) in cash and cash equivalents</a></td>
<td class="num">(75,366)<span></span>
</td>
<td class="nump">55,711<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - beginning of period</a></td>
<td class="nump">162,283<span></span>
</td>
<td class="nump">94,760<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents - end of period</a></td>
<td class="nump">86,917<span></span>
</td>
<td class="nump">150,471<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Non-cash transactions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfAssetsAcquired', window );">Purchases of property and equipment included in accounts payable</a></td>
<td class="nump">$ 633<span></span>
</td>
<td class="nump">$ 583<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Deferred income tax expense benefit cash flow adjustments to net income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredIncomeTaxExpenseBenefitCashFlowAdjustmentsToNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 230<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfAssetsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of assets acquired in noncash investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfAssetsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703493682432">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares<br></strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Balance Sheets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
<td class="nump">20,000,000<span></span>
</td>
<td class="nump">20,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued</a></td>
<td class="nump">11,028,265<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding</a></td>
<td class="nump">11,028,265<span></span>
</td>
<td class="nump">10,903,341<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703499528544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Regulation<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationAbstract', window );"><strong>Regulation [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_RegulationDisclosureTextBlock', window );">Regulation</a></td>
<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 63px; text-align: justify; text-indent: 0px;"><b>10.&#160;</b></td><td style="padding: 0px; width: 1504px; text-align: justify; text-indent: 0px;"><b>Regulation</b></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company and the University are subject to significant federal, state and regulatory oversight. The U.S. Department of Education (the &#8220;Department&#8221;) previously attempted to define &#8220;an eligible program of training to prepare students for gainful employment in a recognized occupation.&#8221; After a federal court invalidated the Department&#8217;s regulation, the Department established a negotiated rulemaking committee to consider the issue of gainful employment. The negotiations did not result in the required consensus. On March 25, 2014, the Department issued a Notice of Proposed Rulemaking for public comment, and on October 31, 2014, the Department published the final regulation which became effective on July 1, 2015.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The new requirements include two debt-to-earnings measures, consisting of an annual earnings rate and a discretionary income rate. The annual earnings rate measures student debt payments in relation to earnings, and the discretionary income rate measures student debt payments in relation to discretionary income. Under the new gainful employment regulation, a program would pass if the program&#8217;s graduates:</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 0.25in; text-indent: 0px;"></td><td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">have an annual earnings rate that does not exceed 8%; or</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 0.25in; text-indent: 0px;"></td><td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">have a discretionary income rate that does not exceed 20%.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">In addition, a program that does not pass either of the debt-to-earnings metrics, and that has an annual earnings rate between 8% and 12%, or a discretionary income rate between 20% and 30%, would be considered to be in a warning zone. A program would fail if the program&#8217;s graduates have an annual earnings rate of 12% or greater and a discretionary income rate of 30% or greater. A program would become Title IV-ineligible for three years if it fails both metrics for two out of three consecutive years, or fails to pass at least one metric for four consecutive award years.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in;
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and</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px 0px 0px 0.5in; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 0.25in; text-indent: 0px;"></td><td style="padding: 0px; width: 0.25in; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">the institution must not enroll, register or enter into a financial commitment with a prospective student until a specified time after providing the warning to the prospective student.</font></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The new regulation also requires institutions to report student and program level data to the Department, and comply with additional disclosure requirements, beginning in January 2017.</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">&#160;</font></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font: 10pt/normal 'times new roman', times, serif; font-stretch: normal;">The University timely submi</font>tted the required reporting in July and September 2015. On October 9, 2015, the Department of Education notified the University that it was not in full compliance with reporting requirements for gainful employment programs and thus no decisions on new programs or locations will be issued. Although the University had timely reported all information for gainful employment programs, the Department did not recognize the submissions as complete due to erroneous academic program codes in the Common Origination and Disbursement system. The University has remediated the errors.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In addition, the gainful employment regulation requires institutions to certify by December 31, 2015, among other things, that each eligible gainful employment program is programmatically accredited if required by a federal governmental entity or a state governmental entity in the state in which it is located or is otherwise required to obtain state approval. The institution must also certify that each eligible program satisfies the applicable educational prerequisites for professional licensure or certification requirements in each state in which it is located or is otherwise required to obtain
 state approval, so that a student who completes the program
 and
 seeks employment in that state qualifies to take any licensure or certification exam that is needed for the student to practice or find employment in an occupation that the program prepares students to enter.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The requirements associated with the gainful employment regulations will substantially increase the Company&#8217;s administrative burdens and could affect the University&#8217;s student enrollment, persistence and retention. Further, although the regulations provide opportunities for an institution to correct any potential deficiencies in a program prior to the loss of Title IV eligibility, the continuing eligibility of the University&#8217;s academic programs will be affected by factors beyond management&#8217;s control such as changes in graduates&#8217; income levels, changes in student borrowing levels, increases in interest rates, changes in the percentage of former students who are current in the repayment of their student loans, and various other factors. Even if the Company were able to correct any deficiency in the gainful employment metrics in a timely manner, the disclosure requirements associated with a program&#8217;s failure to pass at least one metric may adversely affect student enrollments in that program and may adversely affect the reputation of the University.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In November 2014, two organizations filed separate lawsuits against the Department in federal courts seeking to have the new regulation invalidated. Both suits alleged that the Department exceeded its statutory authority in promulgating the regulation, that the regulation violates the institutions&#8217; constitutional rights, and that the regulation is arbitrary and capricious. In both cases, the courts dismissed the lawsuits, upholding the regulation.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The University must comply with the campus safety and security reporting requirements as well as other requirements in the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, or Clery Act, including recent changes made to the Clery Act by the Violence Against Women Reauthorization Act of 2013, and the Department subsequently promulgated regulations implementing the recent amendments to the Clery Act. In addition, the Department has interpreted Title IX of the Education Amendments of 1972, or Title IX, to categorize sexual violence as a form of prohibited sex discrimination and to require institutions to follow certain disciplinary procedures with respect to such offenses. Failure to comply with the Clery Act or Title IX requirements or regulations thereunder could result in action by the Department to require corrective action, fine the Company or limit or suspend its participation in Title IV programs, could lead to litigation, and could harm the Company&#8217;s reputation.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The University is subject to announced and unannounced compliance reviews and audits by various external agencies, including the Department, its Office of Inspector General, state licensing agencies, and accrediting agencies. The Department conducted four campus-based program reviews of University campuses in three states and the District of Columbia during the third quarter of 2014, and two of the reviews also covered compliance with the Clery Act, the Drug-Free Schools and Communities Act, and regulations related thereto. The Department issued an Expedited Final Program Review Determination Letter for one of the program reviews, closing the program review with no further action required by the Company. The Company received a Program Review Report for another program review and provided a response to the Department, following which the Company received a Final Program Review Determination letter, closing the review with no further action required by the Company. On March 24, 2015, the Company received a Program Review Report for another program review, and provided a response to the Department on April 21, 2015. On April 29, 2015, the Company received a Final Program Review Determination Letter closing the review and identifying a payment of less than $500 due to the Department of Education based on an underpayment on a return to Title IV calculation. The Company remitted payment, and received a letter from the Department on May 26, 2015, indicating that no further action was required and that the matter was closed. On September 15, 2015, the Company received a Program Review report for the final program review, and provided a response to the Department on October 5, 2015. The Company has yet to receive a Final Program Review Determination letter.</p><p style="font: 10pt/normal 'times new roman',
 times, serif; margin: 0px; text-align: justify; color: #000000;
 text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Each institution participating in Title IV programs must enter into a Program Participation Agreement with the Department. Under the agreement, the institution agrees to follow the Department&#8217;s rules and regulations governing Title IV programs. On October 1, 2014, the University received an executed provisional Program Participation Agreement from the Department allowing it to participate in Title IV programs until June 30, 2017. The Program Participation Agreement was issued on a provisional basis because of the Department&#8217;s open program reviews. Under the provisional agreement, the only material additional condition with which the University must comply is obtaining Department approval for substantial changes, including the addition of any new location, level of academic offering, non-degree program, or degree program.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation 12B<br><br><br><br> -Number 240<br><br><br><br> -Section 12b<br><br><br><br> -Subsection 1<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation 12B<br><br><br><br> -Number 240<br><br><br><br> -Section 12b<br><br><br><br> -Subsection 1<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490433952">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Financial Statement Presentation</a></td>
<td class="text"><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Financial Statement Presentation</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The consolidated financial statements include the accounts of the Company and its only subsidiary, the University. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">All information as of December&#160;31, 2014 and September&#160;30, 2014 and 2015, and for the three and nine months ended September 30, 2014 and 2015 is unaudited but, in the opinion of management, contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the condensed consolidated financial position, results of operations, and cash flows of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December&#160;31, 2014. The results of operations for the three and nine months ended September 30, 2015 are not necessarily indicative of the results to be expected for the full fiscal year.</p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionSalesOfServices', window );">Revenue Recognition</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Revenue Recognition</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s educational programs are offered on a quarterly basis and such periods coincide with the Company&#8217;s quarterly financial reporting periods. Approximately 96% of the Company&#8217;s revenues during the nine months ended September 30, 2015 consisted of tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships and employee tuition discounts. This collectibility assessment considers available sources of funds for the student including Federal Financial Student Aid programs. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student&#8217;s ability to pay, including the timing of a student&#8217;s withdrawal from a program of study.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">At the start of each academic term, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term is recorded as deferred revenue. The estimated value of scholarship awards which will be realized in the future is deducted from revenue when earned, and is based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the Company&#8217;s academic terms coincide with its financial reporting periods, all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student&#8217;s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.</p></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_GraduationFundPolicyTextBlock', window );">Graduation Fund</a></td>
<td class="text"><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Graduation Fund</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">In the third quarter of 2013, the Company introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student&#8217;s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program for the summer 2013 term (fiscal third quarter) and subsequent terms qualify for the Graduation Fund. Students must meet all of the University&#8217;s admission requirements and not be eligible for any previously offered scholarship program. The Company&#8217;s employees and their dependents are not eligible for the program. To maintain eligibility, students must be enrolled in an undergraduate degree program and students become ineligible to participate in the Graduation Fund if they have more than one consecutive term of non-attendance. In their final academic year, qualifying students will receive one free course for every three courses that were successfully completed.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company allocates the value of benefits estimated to be earned evenly to each of the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company&#8217;s estimate of the benefits that will be earned in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next twelve months is $9.4 million and is included in deferred revenue within total current liabilities in the unaudited condensed consolidated balance sheets.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The table below presents activity in the Graduation Fund for the nine months ended September 30, 2015 (in thousands):</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><table style="width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1379px; font-size: 10pt;">Balance at December 31, 2014</td><td style="width: 16px; font-size: 10pt;">&#160;</td><td style="width: 16px; font-size: 10pt; text-align: left;">$</td><td style="width: 141px; font-size: 10pt; text-align: right;">9,706</td><td style="width: 15px; font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; text-align: left; text-indent: -29.7pt; padding-left: 29.7pt;">Revenue deferred</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">12,423</td><td style="font-size: 10pt; text-align: left;">&#160;</td></tr><tr
 style="vertical-align: bottom; background-color: #cceeff;"><td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; text-indent: -29.7pt; padding-left: 29.7pt;">Benefit redeemed</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;">(3,974</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; padding-bottom: 4pt; text-indent: -19.8pt; padding-left: 29.7pt;">Balance at September 30, 2015</td><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;">18,155</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td></tr></table><div>&#160;</div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted Cash</a></td>
<td class="text"><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Restricted Cash</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">A significant portion of the Company&#8217;s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. At December 31, 2014 and September 30, 2015, the Company had approximately $0.2 million and $0.7 million of these unpaid obligations, respectively, which are recorded as restricted cash and included in other current assets.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a &#8220;minimum protective endowment&#8221; of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.</font></p><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy', window );">Tuition Receivable and Allowance for Doubtful Accounts</a></td>
<td class="text"><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Tuition Receivable and Allowance for Doubtful Accounts</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The Company records tuition receivable and deferred revenue for its students upon the start of the academic term. 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text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="font-size: 10pt; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt; 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text-align: right;">12,255</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt;">&#160;</td><td style="font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; text-align: right;">9,315</td><td style="font-size: 10pt; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="font-size: 10pt; padding-bottom: 1.5pt; text-indent: -19.8pt; padding-left: 19.8pt;">Write-offs, net of recoveries</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;">(4,228</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;">(1,250</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;">(13,990</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;">)</td><td style="font-size: 10pt; padding-bottom: 1.5pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: left;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-size: 10pt; text-align: right;">(8,374</td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="font-size: 10pt; text-align: left; padding-bottom: 4pt; text-indent: -40.5pt; padding-left: 49.5pt;">Allowance for doubtful accounts, end of period</td><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;">8,568</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; padding-bottom:
 4pt;">&#160;</td><td
 style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;">9,776</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;">8,568</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td><td style="font-size: 10pt; padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; font-size: 10pt; text-align: right;">9,776</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left;">&#160;</td></tr></table><div>&#160;</div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Fair Value</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Fair Value Measurement Topic, ASC 820-10 (&#8220;ASC 820-10&#8221;), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows:</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 0.25in;">&#160;</td><td style="padding: 0px; width: 0.25in; text-align: left;"><font style="font-size: 10pt;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;">Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date;</td></tr><tr style="vertical-align: top;"><td>&#160;</td><td style="padding: 0px; text-align: left;">&#160;</td><td style="padding: 0px; text-align: justify; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: top;"><td>&#160;</td><td style="padding: 0px; text-align: left;"><font style="font-size: 10pt;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;">Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and</td></tr><tr style="vertical-align: top;"><td>&#160;</td><td style="padding: 0px; text-align: left;">&#160;</td><td style="padding: 0px; text-align: justify; text-indent: 0px;">&#160;</td></tr><tr style="vertical-align: top;"><td>&#160;</td><td style="padding: 0px; text-align: left;"><font style="font-size: 10pt;">&#9679;</font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;">Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity.</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company&#8217;s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.</p></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock', window );">Goodwill and Indefinite-Lived Intangible Assets</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Goodwill and Indefinite-Lived Intangible Assets</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include an acquired trade name,&#160;are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade name because it has the continued ability to generate cash flows indefinitely.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Goodwill and the indefinite-lived intangible assets are assessed at least annually for impairment as of September 30 of each year, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. Under Accounting Standards Update No. 2011-08,&#160;<i>Intangibles-Goodwill and Other (Topic 350): Testing Goodwill for Impairment</i>, the Company is permitted, but not required, to first assess qualitative factors to determine whether it is necessary to perform the more thorough quantitative goodwill impairment test. Following its qualitative assessment, the Company determined it was not more likely than not that the fair value of its goodwill was less than the carrying amount and, accordingly, no impairment existed at September 30, 2015.</p></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives', window );">Accounting for Derivative Instruments and Hedging Activities</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Accounting for Derivative Instruments and Hedging Activities</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">On the date that the Company enters into a derivative contract, it designates the derivative as a hedge of (a)&#160;a forecasted transaction or (b)&#160;the variability of cash flows that are to be received or paid in connection with a recognized asset or liability (a cash flow hedge). All derivatives are recognized in the balance sheet at their fair value.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">Changes in the fair value of a derivative that is highly effective and that is designated and qualifies as a cash flow hedge, to the extent that the hedge is effective, are recorded, net of income tax, in other comprehensive income, until earnings are affected by the variability of cash flows of the hedged transaction (e.g., until periodic settlements of a variable-rate asset or liability are recorded in earnings). Any hedge ineffectiveness (which represents the amount by which the changes in the fair value of the derivative exceed the variability in the cash flows of the forecasted transaction) is recorded in current-period earnings.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company formally documents all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking various hedge transactions. The Company also formally assesses (both at the hedge&#8217;s inception and on an ongoing basis) whether the derivatives that are used in hedging transactions have been highly effective in offsetting changes in the fair value or cash flows of hedged items and whether those derivatives may be expected to remain highly effective in future periods. When it is determined that a derivative is not (or has ceased to be) highly effective as a hedge, the Company discontinues hedge accounting prospectively.</p></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AuthorizedStockPolicyTextBlock', window );">Authorized Stock</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Authorized Stock</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company has authorized 20,000,000 shares of common stock, par value $0.01, of which 10,903,341 and 11,028,265 shares were issued and outstanding as of December&#160;31, 2014 and September 30, 2015, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which has been issued or outstanding since 2004. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock.</p></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Stock-Based Compensation</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Stock-Based Compensation</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company&#8217;s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the unaudited condensed consolidated statements of income for the three and nine months ended September 30, 2014 and 2015 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company is required to estimate forfeitures at the time of grant and revise, if necessary, the estimate in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest.</p></div><span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Net Income Per Share</a></td>
<td class="text"><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Net Income Per Share</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. 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 text-indent: -10pt; padding-left: 10pt;">Unvested restricted
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Income Taxes</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The Income Taxes Topic, ASC 740, requires the Company to determine whether uncertain tax positions should be recognized within the Company&#8217;s financial statements. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined to be more likely than not to be sustained upon examination. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The tax years 2011-2014 remain open to examination by various taxing jurisdictions in which the Company is subject.</p></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><div><p style="font: 10pt/15.33px 'times new roman', times, serif; margin: 0px 0px 10pt; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Use of Estimates</i>&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates include allowances for doubtful accounts, the useful lives of property and equipment, fair value of future contractual operating lease obligations, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill, intangible assets and the interest rate swap arrangement, and the provision for income taxes. Actual results could differ from those estimates.</p></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent Accounting Pronouncements</a></td>
<td class="text"><div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><i>Recent Accounting Pronouncements</i></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In May 2014, the FASB issued ASU No. 2014-09, &#8220;Revenue from Contracts with Customers (Topic 606)&#8221; (&#8220;ASU 2014-09&#8221;). The standard establishes a new recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. ASU 2014-09 was recently amended to defer the effective date to fiscal years beginning after December 15, 2017, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0.5in; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">&#160;</p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;">In April 2015, the FASB issued ASU No. 2015-03, &#8220;Interest - Imputation of Interest (Subtopic 835-30)&#8221; (&#8220;ASU 2015-03&#8221;). The new guidance requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015. The new guidance will be applied on a retrospective basis, and early adoption is permitted. The Company currently is evaluating the impact that the standard will have on its financial condition, results of operations, and disclosures.</p></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for authorized stock. Discloses the type and amount of stock that is issued and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding graduation fund.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.1(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 305<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 05<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6375392&amp;loc=d3e26790-107797<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Financial Reporting Release (FRR)<br><br><br><br> -Number 203<br><br><br><br> -Paragraph 02-03<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting.  The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=d3e5614-111684<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.3A-02)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27015204&amp;loc=d3e355033-122828<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph k<br><br><br><br> -Article 1<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02, 03<br><br><br><br> -Article 3A<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for derivatives used in hedging relationships, which may include how gains or losses are recognized and presented in the financial statements, and amortization policies for deferred amounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 25<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6886632&amp;loc=d3e76258-113986<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(n))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80748-113994<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativesMethodsOfAccountingHedgingDerivatives</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13279-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 60<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7493716&amp;loc=d3e21868-110260<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfFinancialInstrumentsPolicy</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35741047&amp;loc=d3e13816-109267<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 19<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32840-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 05<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6423966&amp;loc=d3e40913-109327<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 954<br><br><br><br> -SubTopic 740<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6491622&amp;loc=d3e9504-115650<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 17<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32809-109319<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32247-109318<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=37586315&amp;loc=d3e32280-109318<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the allowance for doubtful accounts for trade and other accounts receivable balances, and when impairments, charge-offs or recoveries are recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5144-111524<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ReceivablesTradeAndOtherAccountsReceivableAllowanceForDoubtfulAccountsPolicy</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue recognition for sales of a service. The entity also may disclose how it recognizes cost of sales for such a service transaction and its treatment of any unearned or deferred revenue that arises from the transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.B.Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 05<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51660065&amp;loc=d3e47769-111627<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section B<br><br><br><br> -Paragraph Question 1<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRecognitionSalesOfServices</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655414&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (b),(f)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UseOfEstimates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6061-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6143-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 275<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6132-108592<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UseOfEstimates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703490752304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Condensed Consolidated Statements of Income - USD ($)<br> shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>Statements of Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueServicesNet', window );">Revenues</a></td>
<td class="nump">$ 99,142<span></span>
</td>
<td class="nump">$ 100,756<span></span>
</td>
<td class="nump">$ 320,777<span></span>
</td>
<td class="nump">$ 329,971<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Costs and expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfServices', window );">Instruction and educational support</a></td>
<td class="nump">55,281<span></span>
</td>
<td class="nump">55,927<span></span>
</td>
<td class="nump">174,223<span></span>
</td>
<td class="nump">174,839<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingAndMarketingExpense', window );">Marketing</a></td>
<td class="nump">21,593<span></span>
</td>
<td class="nump">20,514<span></span>
</td>
<td class="nump">52,944<span></span>
</td>
<td class="nump">50,188<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_AdmissionsAdvisory', window );">Admissions advisory</a></td>
<td class="nump">4,089<span></span>
</td>
<td class="nump">4,071<span></span>
</td>
<td class="nump">12,144<span></span>
</td>
<td class="nump">12,623<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administration</a></td>
<td class="nump">10,925<span></span>
</td>
<td class="nump">11,028<span></span>
</td>
<td class="nump">33,424<span></span>
</td>
<td class="nump">33,198<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total costs and expenses</a></td>
<td class="nump">91,888<span></span>
</td>
<td class="nump">91,540<span></span>
</td>
<td class="nump">272,735<span></span>
</td>
<td class="nump">270,848<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income from operations</a></td>
<td class="nump">7,254<span></span>
</td>
<td class="nump">9,216<span></span>
</td>
<td class="nump">48,042<span></span>
</td>
<td class="nump">59,123<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeNonoperating', window );">Investment income</a></td>
<td class="nump">44<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="nump">222<span></span>
</td>
<td class="nump">45<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="nump">1,144<span></span>
</td>
<td class="nump">1,311<span></span>
</td>
<td class="nump">3,689<span></span>
</td>
<td class="nump">3,945<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income before income taxes</a></td>
<td class="nump">6,154<span></span>
</td>
<td class="nump">7,947<span></span>
</td>
<td class="nump">44,575<span></span>
</td>
<td class="nump">55,223<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Provision for income taxes</a></td>
<td class="nump">2,431<span></span>
</td>
<td class="nump">2,994<span></span>
</td>
<td class="nump">17,593<span></span>
</td>
<td class="nump">21,810<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 3,723<span></span>
</td>
<td class="nump">$ 4,953<span></span>
</td>
<td class="nump">$ 26,982<span></span>
</td>
<td class="nump">$ 33,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic</a></td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 2.55<span></span>
</td>
<td class="nump">$ 3.17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted</a></td>
<td class="nump">$ 0.35<span></span>
</td>
<td class="nump">$ 0.46<span></span>
</td>
<td class="nump">$ 2.52<span></span>
</td>
<td class="nump">$ 3.15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic</a></td>
<td class="nump">10,593<span></span>
</td>
<td class="nump">10,571<span></span>
</td>
<td class="nump">10,586<span></span>
</td>
<td class="nump">10,555<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted</a></td>
<td class="nump">10,736<span></span>
</td>
<td class="nump">10,663<span></span>
</td>
<td class="nump">10,726<span></span>
</td>
<td class="nump">10,622<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_AdmissionsAdvisory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Includes salaries, benefits, and related costs of personnel engaged in admissions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_AdmissionsAdvisory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs related to services rendered by an entity during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.2(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 52<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.23)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 940<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51673353&amp;loc=d3e41242-110953<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 10<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 9<br><br><br><br> -Subparagraph (a),(b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(h))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Income Tax Expense (or Benefit)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.7)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueServicesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate revenue during the period from services rendered in the normal course of business, after deducting allowances and discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueServicesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingAndMarketingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total amount of expenses directly related to the marketing or selling of products or services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingAndMarketingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703665740976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loan and Revolving Credit Facility<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Term Loan and Revolving Credit Facility [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Term Loan and Revolving Credit Facility</a></td>
<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><b>5.&#160;</b></font></td><td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><b>Term Loan and Revolving Credit Facility</b></font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">On July 2, 2015, the Company entered into an amended credit facility (the &#8220;Amended Credit Facility&#8221;) to replace its prior credit agreement (the &#8220;Prior Credit Agreement&#8221;) which provides for a revolving line of credit (the &#8220;Revolver&#8221;) up to $150.0 million and provides the Company with an option, under certain conditions, to increase the commitments under the Revolver or establish one or more incremental term loans in an amount up to $50 million in the aggregate in the future. The maturity date of the Amended Credit Facility is July 2, 2020.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">In addition, the Amended Credit Facility provides that (i) borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company&#8217;s election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% (in lieu of the previous range from 2.00% to 2.50%), depending on the Company&#8217;s leverage ratio, and (ii) the quarterly unused commitment fee shall be equal to a percentage ranging from 0.25% to 0.35% per annum (in lieu of the previous range from 0.30% to 0.40% per annum) depending on the Company&#8217;s leverage ratio, times the daily unused amount under the Revolver.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px 397.8pt 0px 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">Except for the ch<font style="font-family: 'times new roman', times, serif;">anges included in the amendment, all other remaining terms of the Prior Credit Agreement, including the requirements that the Company satisfy certain financial maintenance covenants, remain in full force and effect. The Amended Credit Facility is guaranteed by the Company&#8217;s subsidiary and is secured by substantially all of the personal property and assets of the Company and the guarantor. The Amended Credit Facility contains customary affirmative and negative covenants, representations, warranties, events of default and remedies upon default, including acceleration and rights to foreclose on the collateral securing the Amended Credit Facility. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703491154320">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-Term Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrentAbstract', window );"><strong>Other Long-Term Liabilities [Abstract]</strong></a></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703496312384">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Significant Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ScheduleOfGraduationFundLiabilityTableTextBlock', window );">Schedule of graduation fund liability</a></td>
<td class="text"><div><table style="width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1100.8px; font-size: 10pt;">Balance at December 31, 2014</td><td style="width: 12.8px; font-size: 10pt;">&#160;</td><td style="width: 12.8px; text-align: left; font-size: 10pt;">$</td><td style="width: 112px; text-align: right; font-size: 10pt;">9,706</td><td style="width: 12px; text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; text-indent: -29.7pt; padding-left: 29.7pt; font-size: 10pt;">Revenue deferred</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; font-size: 10pt;">12,423</td><td style="text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; text-indent: -29.7pt; padding-bottom: 1.5pt; padding-left: 29.7pt; font-size: 10pt;">Benefit redeemed</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(3,974</td><td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-indent: -19.8pt; padding-bottom: 4pt; padding-left: 29.7pt; font-size: 10pt;">Balance at September 30, 2015</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">18,155</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p></div><span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock', window );">Schedule of tuition receivable and allowance for doubtful accounts</a></td>
<td class="text"><div><table style="width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"><b>December 31,</b></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"><b>2014</b></p></td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="2"><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"><b>September 30,</b></p><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: center; font-stretch: normal;"><b>2015</b></p></td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 950.4px; text-align: left; font-size: 10pt;">Tuition receivable</td><td style="width: 12.8px; font-size: 10pt;">&#160;</td><td style="width: 12.8px; text-align: left; font-size: 10pt;">$</td><td style="width: 112.8px; text-align: right; font-size: 10pt;">25,777</td><td style="width: 12.8px; text-align: left; font-size: 10pt;">&#160;</td><td style="width: 12.8px; font-size: 10pt;">&#160;</td><td style="width: 12px; text-align: left; font-size: 10pt;">$</td><td style="width: 112px; text-align: right; font-size: 10pt;">26,840</td><td style="width: 12px; text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;">Allowance for doubtful accounts</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(8,835</td><td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;">)</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(9,776</td><td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;">)</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="text-align: left; padding-bottom: 4pt; padding-left: 9.9pt; font-size: 10pt;">Tuition receivable, net</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">16,942</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">17,064</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"></td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock', window );">Schedule of allowance for doubtful accounts</a></td>
<td class="text"><div><table style="width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; font-family: 'times new roman', times, serif; word-spacing: 0px; border-collapse: collapse; widows: 1; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td style="font-size: 10pt;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid; font-stretch: normal;" colspan="6">For the three months&#160;<br />ended September 30,</td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; padding-bottom: 1.5pt; font-stretch: normal;">&#160;</td><td style="font: 10pt/normal 'times new roman', times, serif; 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text-align: left; font-size: 10pt;">$</td><td style="width: 112.8px; text-align: right; font-size: 10pt;">8,733</td><td style="width: 12.8px; text-align: left; font-size: 10pt;">&#160;</td><td style="width: 12.8px; font-size: 10pt;">&#160;</td><td style="width: 12.8px; text-align: left; font-size: 10pt;">$</td><td style="width: 112px; text-align: right; font-size: 10pt;">10,303</td><td style="width: 12px; text-align: left; font-size: 10pt;">&#160;</td><td style="width: 12px; font-size: 10pt;">&#160;</td><td style="width: 12px; text-align: left; font-size: 10pt;">$</td><td style="width: 112px; text-align: right; font-size: 10pt;">8,835</td><td style="width: 12px; text-align: left; font-size: 10pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; text-indent: -19.8pt; padding-left: 19.8pt; font-size: 10pt;">Additions charged to expense</td><td style="font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt;">&#160;</td><td style="text-align: right; 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border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(13,990</td><td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;">)</td><td style="padding-bottom: 1.5pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(8,374</td><td style="text-align: left; padding-bottom: 1.5pt; font-size: 10pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; text-indent: -40.5pt; padding-bottom: 4pt;
 padding-left: 49.5pt; font-size: 10pt;">Allowance for doubtful accounts, end of
 period</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">8,568</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">9,776</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">8,568</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="padding-bottom: 4pt; font-size: 10pt;">&#160;</td><td style="text-align: left; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; font-size: 10pt; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">9,776</td><td style="text-align: left; padding-bottom: 4pt; font-size: 10pt;"></td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Schedule of reconciliation of shares used to calculate basic and diluted earnings per share</a></td>
<td class="text"><div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For&#160;the&#160;three&#160;months&#160;<br />ended<br />September 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="6">For&#160;the&#160;nine&#160;months&#160;<br />ended<br />September 30,</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom;"><td>&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2014</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: center; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;" colspan="2">2015</td><td style="padding-bottom: 1.5pt;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 637.07px; text-indent: -10pt; padding-left: 10pt;">Weighted average shares outstanding used to compute basic earnings per share</td><td style="width: 12.8px;">&#160;</td><td style="width: 12.8px; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3,4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Taxes</a></td>
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As of September 30, 2015, the Company had a liability of $0.5 million for uncertain tax positions taken during the year ended December 31, 2013. The Company also recognized approximately $0.3 million of benefits in the nine months ended September 30, 2015. The Company also recorded approximately $0.1 million of expense in the nine months ended September 30, 2015, related to interest and penalties.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">It is reasonably possible that approximately $0.3 million of unrecognized tax benefits will be reduced in the next twelve months due to expiration of the applicable statutes of limitations. The Company does not anticipate significant changes to other unrecognized tax benefits.</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">&#160;</p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">As of September 30, 2015, approximately $0.4 million of the Company&#8217;s total unrecognized tax benefits would favorably affect the Company&#8217;s effective tax rate if recognized. If amounts accrued are less than amounts ultimately assessed by taxing authorities, the Company would record additional income tax expense.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703741867056">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Stock Options, Restricted Stock and Restricted Stock Units [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock Options, Restricted Stock and Restricted Stock Units</a></td>
<td class="text"><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 63px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><b>6.</b></font></td><td style="width: 1504px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><b>Stock Options, Restricted Stock and Restricted Stock Units</b></font></td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: center;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">On May 5, 2015, the Company&#8217;s shareholders approved the Strayer Education, Inc. 2015 Equity Compensation Plan (the &#8220;2015 Plan&#8221;), which replaces the Strayer Education, Inc. 2011 Equity Compensation Plan (the &#8220;2011 Plan&#8221;). The 2015 Plan provides for the granting of restricted stock, restricted stock units, stock options intended to qualify as incentive stock options, options that do not qualify as incentive stock options, and other forms of equity compensation and performance-based awards to employees, officers and directors of the Company, or to a consultant or advisor to the Company, at the discretion of the Board of Directors. Vesting provisions are at the discretion of the Board of Directors. Options may be granted at option prices based at or above the fair market value of the shares at the date of grant. The maximum term of the awards granted under the 2015 Plan is ten years. The number of shares of common stock reserved for issuance under the 2015 Plan is 500,000 authorized but unissued shares, plus the number of shares available for grant under the 2011 Plan at the time of stockholder approval of the 2015 Plan, and plus the number of shares which may in the future become available under the 2011 Plan due to forfeitures of outstanding awards.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">In February 2015, the Company&#8217;s Board of Directors approved grants of 71,991 shares of restricted stock to certain employees. These shares, which vest 100% in February 2019, were granted pursuant to the 2011 Plan. The Company&#8217;s stock price closed at $70.15 on the date of these restricted stock grants.</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">In May 2015, the Company&#8217;s Board of Directors approved grants of 40,867 shares of restricted stock. These shares, which vest in their entirety four years from the date of grant, were granted pursuant to the 2015 Plan. The Company&#8217;s Board of Directors also approved grants of 13,797 shares of restricted stock. These shares, which vest annually over a three-year period, were awarded to non-employee members of the Company&#8217;s Board of Directors, as part of the Company&#8217;s annual director compensation program and pursuant to the 2015 Plan. 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 -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;"><i>Restricted Stock and Restricted Stock Units</i></font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font></p><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">The table below sets forth the restricted stock and restricted stock units activity for the nine months ended September 30, 2015:</font></p><p style="color: #000000; 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 style="font-size: 10pt;">&#160;</font></td><td style="width: 142px; text-align: right;"><font
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703499358768">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-Term Liabilities<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_FairValueMeasurementTextualAbstract', window );"><strong>Fair Value Measurement (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillFairValueDisclosure', window );">Assets measured at fair value on a non-recurring basis, goodwill</a></td>
<td class="nump">$ 6.8<span></span>
</td>
<td class="nump">$ 6.8<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillFairValueDisclosure', window );">Assets measured at fair value on a non-recurring basis, other indefinite-lived intangible assets</a></td>
<td class="nump">$ 1.6<span></span>
</td>
<td class="nump">$ 1.6<span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of sellers with which the entity has entered into deferred payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of assets, excluding financial assets and goodwill, that lack physical substance, having a projected indefinite period of benefit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703491088128">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Value Measurement (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Schedule of assets and liabilities measured at fair value on a recurring basis</a></td>
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 padding-bottom: 4pt; font-family: 'times new roman', serif;">&#160;</td><td
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background-color: #cceeff;"><td style="font-family: 'times new roman', serif;">Liabilities:</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-align: left; font-family: 'times new roman', serif;">Other liabilities:</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">&#160;</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; 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</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Schedule of changes in fair value of level 3 liability</a></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19279-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703503123216">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 1) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
<th class="th"><div>Dec. 31, 2013</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrentAbstract', window );"><strong>Schedule of tuition receivable and allowance for doubtful accounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableGrossCurrent', window );">Tuition receivable</a></td>
<td class="nump">$ 26,840<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowances for doubtful accounts</a></td>
<td class="num">(9,776)<span></span>
</td>
<td class="num">$ (8,733)<span></span>
</td>
<td class="num">(8,835)<span></span>
</td>
<td class="num">$ (8,568)<span></span>
</td>
<td class="num">$ (9,144)<span></span>
</td>
<td class="num">$ (10,303)<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Tuition receivable, net</a></td>
<td class="nump">$ 17,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amounts due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a, b<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703496732352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Long-Term Liabilities (Details Textual)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2007 </div>
<div>USD ($) </div>
<div>Asset</div>
</th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($) </div>
<div>Sellers</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLongTermLiabilitiesTextualAbstract', window );"><strong>Other Long -Term Liabilities (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities', window );">Sale price of one of campus buildings</a></td>
<td class="nump">$ 5.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionLeaseTerms', window );">Sale and lease back term for most of the campus building</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SaleLeasebackTransactionDeferredGainGross', window );">Gain on sale and lease back of one of campus buildings before tax</a></td>
<td class="nump">$ 2.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_FundsReceivedFromInvestor', window );">Funds received from investor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SaleLeaseBackTransactionLeaseTermOne', window );">Sale and lease back term</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_SaleLeaseBackTransactionNumberOfAssetsSold', window );">Number of assets sold | Asset</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredPaymentArrangementValue', window );">Deferred payment arrangements value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.0<span></span>
</td>
<td class="nump">$ 2.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_DeferredPaymentArrangementNumberOfSellers', window );">Deferred payment arrangement number of sellers | Sellers</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLongTermLiabilitiesTextualAbstract', window );"><strong>Other Long -Term Liabilities (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod', window );">Leasehold improvements and long-term liability amortization period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_OtherLongTermLiabilitiesTextualAbstract', window );"><strong>Other Long -Term Liabilities (Textual)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod', window );">Leasehold improvements and long-term liability amortization period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredPaymentArrangementNumberOfSellers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of sellers with which the entity has entered into deferred payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredPaymentArrangementNumberOfSellers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_DeferredPaymentArrangementValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the deferred payment arrangement with one of the sellers in connection with an acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_DeferredPaymentArrangementValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_FundsReceivedFromInvestor">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Seller's contribution to the Company representing the seller's continuing interest in the assets acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_FundsReceivedFromInvestor</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Leasehold improvements, long term liability amortization period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_LeaseholdImprovementsLongTermLiabilityAmortizationPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_OtherLongTermLiabilitiesTextualAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_OtherLongTermLiabilitiesTextualAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SaleLeaseBackTransactionLeaseTermOne">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the lease term of the asset leased back in a sale and lease back transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SaleLeaseBackTransactionLeaseTermOne</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_stra_SaleLeaseBackTransactionNumberOfAssetsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of assets sold in a sale lease back transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">stra_SaleLeaseBackTransactionNumberOfAssetsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>stra_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionDeferredGainGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the gain recorded in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller to be recognized in future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6456126&amp;loc=d3e49567-112750<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionDeferredGainGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow before closing and deferred financing costs received by a seller-lessee in a sale-leaseback recognized in investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 52<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28365400&amp;loc=d3e51843-112757<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 50<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28365400&amp;loc=d3e51831-112757<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 51<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28365400&amp;loc=d3e51840-112757<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleLeasebackTransactionGrossProceedsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleLeasebackTransactionLeaseTerms">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A description of the terms of the lease(s) related to the assets being leased-back in connection with the transaction involving the sale of property to another party and the lease of the property back to the seller.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6456341&amp;loc=d3e50796-112755<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703499495360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract', window );"><strong>Statements of Comprehensive Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 3,723<span></span>
</td>
<td class="nump">$ 4,953<span></span>
</td>
<td class="nump">$ 26,982<span></span>
</td>
<td class="nump">$ 33,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract', window );"><strong>Other comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax', window );">Change in fair value of derivative instrument, net of income tax</a></td>
<td class="nump">145<span></span>
</td>
<td class="nump">251<span></span>
</td>
<td class="num">(88)<span></span>
</td>
<td class="nump">156<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income</a></td>
<td class="nump">$ 3,868<span></span>
</td>
<td class="nump">$ 5,204<span></span>
</td>
<td class="nump">$ 26,894<span></span>
</td>
<td class="nump">$ 33,569<span></span>
</td>
</tr>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
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<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10A<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParentAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract</td>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703697480064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock', window );">Restructuring and Related Charges</a></td>
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The Company recorded approximately $36.0 million of aggregate charges representing the estimated fair value of future contractual operating lease obligations, which were recorded in the periods the Company ceased using the respective facilities. Lease obligations, some of which continue through 2022, are measured at fair value using a discounted cash flow approach encompassing significant unobservable inputs (Level 3). The estimation of future cash flows includes non-cancelable contractual lease costs over the remaining terms of the leases discounted at the Company&#8217;s marginal borrowing rate of 4.5%, partially offset by estimated future sublease rental income, which involves significant judgment. The Company&#8217;s estimate of the amount and timing of sublease rental income considers subleases that have been executed and subleases expected to be executed based on current commercial real estate market data and conditions, and other qualitative factors specific to the facilities. 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 2015<sup>(1)</sup></font></td><td style="padding-bottom: 4pt;">&#160;</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: left;">$</td><td style="border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double; text-align: right;">22,508</td><td style="padding-bottom: 4pt; text-align: left;">&#160;</td></tr></table><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"><font style="font-size: 10pt;">&#160;</font><font style="font-size: 10pt;">&#160;</font></p><div align="left" style="color: #000000; font-family: 'times new roman', times, serif; font-size: 13.3333px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; margin-top: 0px; margin-bottom: 0px;"><div style="font-size: 1pt; border-top-color: black; border-top-width: 1.5pt; border-top-style: solid; width: 391.75px;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="color: #000000; font-family: 'times new roman', times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1567px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="width: 79px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><sup>(1)</sup></font></td><td style="width: 1488px; text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;">The current portion of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities in the unaudited condensed consolidated balance sheets.</font></td></tr><tr style="vertical-align: top;"><td style="text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;"><sup>(2)</sup></font></td><td style="text-align: justify; padding: 0px; text-indent: 0px;"><font style="font-size: 10pt;">Non-cash adjustments for lease and related costs&#160;include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period.</font></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 5.P.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 5.P.3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140864-122747<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 5<br><br><br><br> -Section P<br><br><br><br> -Subsection 3, 4<br><br><br><br></p></div>
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703491025488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Details 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward', window );"><strong>Schedule of allowance for doubtful accounts</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts, beginning of period</a></td>
<td class="nump">$ 8,733<span></span>
</td>
<td class="nump">$ 9,144<span></span>
</td>
<td class="nump">$ 8,835<span></span>
</td>
<td class="nump">$ 10,303<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Additions charged to expense</a></td>
<td class="nump">2,293<span></span>
</td>
<td class="nump">3,652<span></span>
</td>
<td class="nump">9,315<span></span>
</td>
<td class="nump">12,255<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs', window );">Write-offs, net of recoveries</a></td>
<td class="num">(1,250)<span></span>
</td>
<td class="num">(4,228)<span></span>
</td>
<td class="num">(8,374)<span></span>
</td>
<td class="num">(13,990)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Allowance for doubtful accounts, end of period</a></td>
<td class="nump">$ 9,776<span></span>
</td>
<td class="nump">$ 8,568<span></span>
</td>
<td class="nump">$ 9,776<span></span>
</td>
<td class="nump">$ 8,568<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableRollforward</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of direct write-downs of accounts receivable charged against the allowance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 954<br><br><br><br> -SubTopic 310<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51673446&amp;loc=SL9156395-115594<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsReceivableWriteOffs</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.5)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock Options, Restricted Stock and Restricted Stock Units (Details 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
<th class="th"><div>Sep. 30, 2015</div></th>
<th class="th"><div>Sep. 30, 2014</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="nump">$ 2,653<span></span>
</td>
<td class="nump">$ 2,551<span></span>
</td>
<td class="nump">$ 7,576<span></span>
</td>
<td class="nump">$ 7,058<span></span>
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<td class="nump">1,048<span></span>
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<td class="nump">1,015<span></span>
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<td class="nump">2,990<span></span>
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<td class="nump">2,809<span></span>
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<td class="nump">1,605<span></span>
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<td class="nump">1,536<span></span>
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<td class="nump">4,586<span></span>
</td>
<td class="nump">4,249<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="nump">$ 619<span></span>
</td>
<td class="nump">$ 406<span></span>
</td>
<td class="nump">$ 1,532<span></span>
</td>
<td class="nump">$ 1,314<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember', window );">Marketing [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=stra_AdmissionsAdvisoryMember', window );">Admissions advisory [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember', window );">General and administration [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract', window );"><strong>Schedule of stock-based compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation expense included in operating expense</a></td>
<td class="nump">$ 2,034<span></span>
</td>
<td class="nump">$ 2,145<span></span>
</td>
<td class="nump">$ 6,044<span></span>
</td>
<td class="nump">$ 5,744<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense, net of income tax, recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpenseNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=stra_InstructionAndEducationalSupportMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=stra_InstructionAndEducationalSupportMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_SellingAndMarketingExpenseMember</td>
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<td></td>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementLocationAxis=stra_AdmissionsAdvisoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=stra_AdmissionsAdvisoryMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.0.814</span><table class="report" border="0" cellspacing="2" id="idm139703487731232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Restructuring and Related Charges (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestructuringAndRelatedActivitiesAbstract', window );"><strong>Restructuring and Related Charges [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock', window );">Schedule of restructuring liability by type of cost</a></td>
<td class="text"><div><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="width: 1100.8px;"><font style="font: 10pt/normal 'times new roman', serif; font-stretch: normal;">Balance at December 31, 2014<sup>(1)</sup></font></td><td style="width: 12.8px;">&#160;</td><td style="width: 12.8px; text-align: left;">$</td><td style="width: 112px; text-align: right;">27,283</td><td style="width: 12px; text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: white;"><td><font style="font: 10pt/normal 'times new roman', serif; font-stretch: normal;">Non-cash adjustments<sup>(2)</sup></font></td><td>&#160;</td><td style="text-align: left;">&#160;</td><td style="text-align: right;">265</td><td style="text-align: left;">&#160;</td></tr><tr style="vertical-align: bottom; background-color: #cceeff;"><td style="padding-bottom: 1.5pt;">Payments</td><td style="padding-bottom: 1.5pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">&#160;</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 1.5pt; border-bottom-style: solid;">(5,040</td><td style="text-align: left; padding-bottom: 1.5pt;">)</td></tr><tr style="vertical-align: bottom; background-color: white;"><td style="text-indent: -11pt; padding-bottom: 4pt; padding-left: 20pt;"><font style="font: 10pt/normal 'times new roman', serif; font-stretch: normal;">Balance at September 30, 2015<sup>(1)</sup></font></td><td style="padding-bottom: 4pt;">&#160;</td><td style="text-align: left; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">$</td><td style="text-align: right; border-bottom-color: black; border-bottom-width: 4pt; border-bottom-style: double;">22,508</td><td style="text-align: left; padding-bottom: 4pt;">&#160;</td></tr></table><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"><font style="font-size: 10pt;">&#160;</font><font style="font-size: 10pt;">&#160;</font></p><div align="left" style="font: 13.33px/normal 'times new roman', times, serif; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0px; margin-bottom: 0px; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;"><div style="width: 312.6px; font-size: 1pt; border-top-color: black; border-top-width: 1.5pt; border-top-style: solid;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; text-align: justify; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; widows: 1; font-stretch: normal; -webkit-text-stroke-width: 0px;"></p><table style="font: 10pt/normal 'times new roman', times, serif; width: 1250.4px; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; widows: 1; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"><tr style="vertical-align: top;"><td style="padding: 0px; width: 63.2px; text-align: justify; text-indent: 0px;"><font style="font-size: 10pt;"><sup>(1)</sup></font></td><td style="padding: 0px; width: 1187.2px; text-align: justify; text-indent: 0px;"><font style="font-size: 10pt;">The current portion of restructuring liabilities was $6.0 million and $5.1 million as of December 31, 2014 and September 30, 2015, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities in the unaudited condensed consolidated balance sheets.</font></td></tr><tr style="vertical-align: top;"><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font-size: 10pt;"><sup>(2)</sup></font></td><td style="padding: 0px; text-align: justify; text-indent: 0px;"><font style="font-size: 10pt;">Non-cash adjustments for lease and related costs&#160;include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements signed during the period.</font></td></tr></table></div><span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestructuringAndRelatedActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestructuringAndRelatedActivitiesAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB Topic 5.P.4(b)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27011515&amp;loc=d3e140904-122747<br><br><br><br></p></div>
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