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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2018
Capella Merger |
Business Acquisition [Line Items] |
Schedule of components of aggregate consideration transferred for acquisition | The following table summarizes the components of the aggregate consideration transferred for the acquisition of CEC (in thousands):
Fair value of Company common stock issued in exchange for CEC outstanding shares(1) | $ | 1,209,483
Fair value of Company equity-based awards issued in exchange for CEC equity-based awards |  | 27,478
Total fair value of consideration transferred | $ | 1,236,961
| (1) |  | The Company issued 10,263,775 common shares at a market price of $117.84 in exchange for each issued and outstanding share of CEC common stock.
Schedule of purchase price allocated to assets acquired and liabilities assumed at fair value | The preliminary fair value of assets acquired and liabilities assumed as well as a reconciliation to consideration transferred is presented in the table below (in thousands):
Cash and cash equivalents |  | $ | 167,859
Marketable securities, current |  |  | 31,419
Tuition receivable |  |  | 39,141
Income tax receivable |  |  | 163
Other current assets |  |  | 8,496
Marketable securities, non-current |  |  | 34,700
Property and equipment, net |  |  | 53,182
Other assets |  |  | 14,556
Intangible assets |  |  | 349,800
Goodwill |  |  | 725,740
Total assets acquired |  |  | 1,425,056
Accounts payable and accrued expenses |  |  | (46,735)
Contract liabilities |  |  | (39,000)
Deferred income taxes |  |  | (100,123)
Other long term liabilities |  |  | (2,237)
Total liabilities assumed |  |  | (188,095)
Total consideration |  | $ | 1,236,961
Schedule of intangible assets acquired and weighted average useful lives | The table below presents a summary of intangible assets acquired (in thousands) and the weighted average useful lives of these assets:
|  |  |  |  | Weighted Average
|  |  | Fair Value |  | Useful Life in Years
Trade names |  | $ | 183,800 |  | Indefinite
Student relationships |  |  | 166,000 |  | 3
|  | $ | 349,800 |  |
Schedule of supplemental pro forma financial information | The pro forma adjustments are based on available information and upon assumptions the Company believes are reasonable to reflect the impact of this acquisition on the Company’s historical financial information on a supplemental pro forma basis (in thousands).
|  | Pro Forma Combined
|  | Year Ended |  | Year Ended
|  | December 31, 2017 |  | December 31, 2018
Revenue |  | $ | 895,262 |  | $ | 923,945
Net Income |  |  | 16,364 |  |  | 41,058
New York Code And Design Academy, Inc. |
Business Acquisition [Line Items] |
Schedule of purchase price allocated to assets acquired and liabilities assumed at fair value | The allocation of the purchase price was as follows (in thousands):
|  | Purchase |  |
|  | Price |  |
|  | Allocation |  | Useful Life
Cash | $ | 790 |  |
Other assets |  | 1,265 |  |
Intangibles: |  |  |  |
Trade name |  | 5,660 |  | Indefinite
Goodwill |  | 13,944 |  |
Liabilities assumed |  | (4,734) |  |
Total assets acquired and liabilities assumed, net |  | 16,925 |  |
Less: contingent consideration |  | (14,500) |  |
Less: cash acquired |  | (790) |  |
Cash paid for acquisition, net of cash acquired | $ | 1,635 |  |

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