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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes [Abstract]

Schedule of income tax provision

The income tax provision for the years ended December 31, 2014, 2015 and 2016 is summarized below (in thousands):

		2014			2015			2016
Current:
Federal		$	25,285		$	25,515		$	26,015
State			4,490			4,538			4,869
Total current			29,775			30,053			30,884
Deferred:
Federal			141			(3,634)			(7,748)
State			344			(311)			(646)
Total deferred			485			(3,945)			(8,394)
Total provision for income taxes		$	30,260		$	26,108		$	22,490

Schedule of tax effects of principal temporary differences that give rise to deferred tax assets

The tax effects of the principal temporary differences that give rise to the Company’s deferred tax assets are as follows as of December 31, 2015 and 2016 (in thousands):

		2015			2016
Stock-based compensation		$	16,742		$	20,477
Property and equipment			(9,417)			(6,059)
Other facility-related costs			8,535			5,242
Deferred revenue			4,267			7,182
Tuition receivable			3,908			3,922
Deferred leasing costs			3,362			3,064
Prepaid compensation			—			(1,139)
Other			(948)			(1,592)
Net deferred tax asset		$	26,449		$	31,097

Summary of changes in unrecognized tax benefits

The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands):

		Year Ended December 31,
		2015			2016
Beginning unrecognized tax benefits		$	2,936		$	505
Reductions for tax positions taken in prior years			(2,431)			(329)
Ending unrecognized tax benefits		$	505		$	176

Schedule of reconciliation between statutory tax rate and effective tax rate

		2014			2015			2016
Statutory federal rate		35.0	%		35.0	%		35.0	%
State income taxes, net of federal benefits		4.2			4.2			4.5
Other		0.3			0.3			(0.2)
Effective tax rate		39.5	%		39.5	%		39.3	%

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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