XML 32 R18.htm IDEA: XBRL DOCUMENT v3.3.1.900
Commitments and Contingencies
12 Months Ended
Dec. 31, 2015
Commitments and Contingencies and Litigation [Abstract]  
Commitments and Contingencies

11.   Commitments and Contingencies

The University participates in various federal student financial assistance programs which are subject to audit by agencies including the Department of Education, the Veterans Administration, and the Department of Defense. Management believes that the potential effects of audit adjustments, if any, for the periods currently under audit will not have a material adverse effect, individually or in the aggregate, on the Company’s consolidated financial position, results of operations or cash flows.

As of December 31, 2015, the Company had 88 long-term, non-cancelable operating leases for campuses and other administrative facilities. Rent expense was $82.2 million, $35.7 million, and $37.5 million for the years ended December 31, 2013, 2014, and 2015, respectively. Rent expense for 2013 includes approximately $36.0 million in charges related to the closure of 20 campus locations. Rent expense for 2014 and 2015 includes benefits of approximately $4.1 million and $0.4 million, respectively, to reduce the Company’s liability for losses on facilities no longer in use. The rents on the Company’s leases are subject to annual increases.

The minimum rental commitments for the Company as of December 31, 2015 are as follows (in thousands):

 

 

 

 

Minimum
rental
commitments

2016

 

 

 

$

37,240

2017

 

 

 

 

33,264

2018

 

 

 

 

28,819

2019

 

 

 

 

23,444

2020

 

 

 

 

18,157

Thereafter

 

 

 

 

26,140

Total

 

 

 

$

167,064