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

3 Months Ended

Mar. 31, 2016

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

Schedule of restricted stock and restricted stock units activity

		Number of shares or units				Weighted- average Grant price
Balance, December 31, 2015			634,327			$	104.66
Grants			176,802				50.67
Vested shares			(6,588	)			62.28
Forfeitures			—				—
Balance, March 31, 2016			804,541			$	93.98

Schedule of stock option activity and other stock option information

										Weighted-
										average
						Weighted-				remaining				Aggregate
		Number of				average				contractual				intrinsic value(1)
		shares				exercise price				life (years)				(in thousands)
Balance, December 31, 2015			100,000			$	51.95				5.1			$	817
Grants			—				—
Exercises			—				—
Forfeitures/Expirations			—				—
Balance, March 31, 2016			100,000			$	51.95				4.8			$	—
Exercisable, March 31, 2016			100,000			$	51.95				4.8			$	—

⁽¹⁾ The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company’s common stock.

Schedule of stock-based compensation expense

		For the three months ended
		March 31,
		2015				2016
Instruction and educational support		$	367			$	651
Marketing			—				—
Admissions advisory			—				—
General and administration			2,084				2,240
Stock-based compensation expense included in operating expense			2,451				2,891
Tax benefit			956				1,099
Stock-based compensation expense, net of tax		$	1,495			$	1,792

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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