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Merger with Capella Education Company (Tables) | 6 Months Ended
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Jun. 30, 2019
Business Combinations [Abstract] |
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 preliminary fair value of assets and liabilities assumed | 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 | 31,419 |
Tuition receivable | 36,716 |
Income taxes receivable | 163 |
Other current assets | 9,041 |
Marketable securities, non-current | 34,700 |
Property and equipment, net | 53,182 |
Other assets | 14,556 |
Intangible assets | 349,800 |
Goodwill | 725,304 |
Total assets acquired | 1,422,740 |
Accounts payable and accrued expenses | (47,763 | )
Contract liabilities | (39,000 | )
Deferred income taxes | (96,689 | )
Other long term liabilities | (2,327 | )
Total liabilities assumed | (185,779 | )
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:
| Fair Value |  | Weighted Average Useful Life in Years
Trade names | $ | 183,800 |  |  | Indefinite
Student relationships | 166,000 |  |  | 3
| $ | 349,800 |  |  |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the equity interest issued or issuable in a business acquisition (or series of individually immaterial business acquisitions) planned, initiated, or completed during the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b)(4) -URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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