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Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounting Policies [Abstract] |
Schedule of impact of adoption on balance sheet | The impact of adoption of ASC 326 on the Company's balance sheet was as follows (in thousands):
| As of January 1, 2020
| As Reported Under ASC 326 |  | Pre-ASC 326 Adoption |  | Impact of ASC 326 Adoption
Tuition receivable, net | $ | 46,952 |  |  | $ | 51,523 |  |  | $ | (4,571) |
Deferred income tax liabilities | $ | 46,681 |  |  | $ | 47,942 |  |  | $ | (1,261) |
Retained earnings | $ | 149,509 |  |  | $ | 152,819 |  |  | $ | (3,310) |
Schedule of cash, cash equivalents, and restricted cash | The following table illustrates the reconciliation of cash, cash equivalents, and restricted cash shown in the unaudited condensed consolidated statements of cash flows as of September 30, 2019 and 2020 (in thousands):
| As of September 30,
| 2019 |  | 2020
Cash and cash equivalents | $ | 397,094 |  |  | $ | 717,804 |
Restricted cash included in other current assets | 2 |  |  | 347 |
Restricted cash included in other assets | 500 |  |  | 500 |
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows | $ | 397,596 |  |  | $ | 718,651 |
Schedule of tuition receivable and allowance for credit losses | The Company’s tuition receivable and allowance for credit losses were as follows as of December 31, 2019 and September 30, 2020 (in thousands):
| December 31, 2019 |  | September 30, 2020
Tuition receivable | $ | 82,454 |  |  | $ | 90,815 |
Allowance for credit losses | (30,931) |  |  | (44,857) |
Tuition receivable, net | $ | 51,523 |  |  | $ | 45,958 |
Schedule of allowance for credit losses | The following table illustrates changes in the Company’s allowance for credit losses for the three and nine months ended September 30, 2019 and 2020 (in thousands). The provision for credit losses for the three and nine months ended September 30, 2020 includes additional reserves to account for projected deterioration in collections performance in 2020 due to the COVID-19 pandemic.
| For the three months ended September 30, |  | For the nine months ended September 30,
| 2019 |  | 2020 |  | 2019 |  | 2020
Allowance for credit losses, beginning of period | $ | 30,733 |  |  | $ | 42,956 |  |  | $ | 28,457 |  |  | $ | 30,931 |
Impact of adopting ASC 326 | — |  |  | — |  |  | — |  |  | 4,571 |
Additions charged to expense | 12,111 |  |  | 11,169 |  |  | 35,893 |  |  | 34,316 |
Adjustment to value of acquired receivables | — |  |  | — |  |  | 2,207 |  |  | — |
Write-offs, net of recoveries | (11,314) |  |  | (9,268) |  |  | (35,027) |  |  | (24,961) |
Allowance for credit losses, end of period | $ | 31,530 |  |  | $ | 44,857 |  |  | $ | 31,530 |  |  | $ | 44,857 |
Schedule of reconciliation of shares used to calculate basic and diluted earnings per share | Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for the three and nine months ended September 30, 2019 and 2020 (in thousands):
| For the three months ended September 30, |  | For the nine months ended September 30,
| 2019 |  | 2020 |  | 2019 |  | 2020
Weighted average shares outstanding used to compute basic earnings per share | 21,806 |  |  | 23,004 |  |  | 21,694 |  |  | 22,193 |
Incremental shares issuable upon the assumed exercise of stock options | 44 |  |  | 12 |  |  | 65 |  |  | 16 |
Unvested restricted stock and restricted stock units | 279 |  |  | 198 |  |  | 337 |  |  | 223 |
Shares used to compute diluted earnings per share | 22,129 |  |  | 23,214 |  |  | 22,096 |  |  | 22,432 |
Anti-dilutive shares of restricted stock excluded from the diluted earnings per share calculation | 3 |  |  | 123 |  |  | 21 |  |  | 42 |

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