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

6 Months Ended

Jun. 30, 2018

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, 2017	716,128	$	99.65
Grants	150,433		91.47
Vested shares	(198,104)		69.12
Forfeitures	(11,331)		57.37
Balance, June 30, 2018	657,126	$	112.86

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, 2017	100,000	$	51.95	3.1	$	3,763
Grants	—		—
Exercises	—		—
Forfeitures/Expirations	—		—
Balance, June 30, 2018	100,000	$	51.95	2.6	$	6,106
Exercisable, June 30, 2018	100,000	$	51.95	2.6	$	6,106

⁽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				For the six months ended
	June 30,				June 30,
	2017		2018		2017		2018
Instruction and educational support	$	645	$	499	$	814	$	1,118
Marketing		—		—		—		—
Admissions advisory		—		—		—		—
General and administration		2,583		2,751		4,840		4,819
Stock-based compensation expense included in operating expense		3,228		3,250		5,654		5,937
Tax benefit		1,275		894		2,233		1,646
Stock-based compensation expense, net of tax	$	1,953	$	2,356	$	3,421	$	4,291