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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 80,351 $ 52,601
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of deferred financing costs 250 250
Amortization of investment discount/premium 108 286
Depreciation and amortization 78,189 78,862
Deferred income taxes (12,867) 971
Stock-based compensation 10,759 9,075
Impairment of right-of-use lease assets 453 0
Changes in assets and liabilities:    
Tuition receivable, net (1,224) 2,258
Other assets (8,684) (1,648)
Accounts payable and accrued expenses 681 (2,022)
Income taxes payable 10,674 (7,125)
Contract liabilities 4,540 10,311
Other long-term liabilities (4,444) (2,412)
Net cash provided by operating activities 158,786 141,407
Cash flows from investing activities:    
Purchases of property and equipment (34,787) (27,769)
Purchases of marketable securities (1,863) (17,769)
Proceeds from marketable securities 22,868 32,860
Other investments (768) (878)
Net cash used in investing activities (14,550) (13,556)
Cash flows from financing activities:    
Net proceeds from issuance of common stock 220,248 0
Common dividends paid (41,305) (33,297)
Net payments for stock awards (24,778) (9,195)
Repurchase of common stock (247) 0
Net cash provided by (used in) financing activities 153,918 (42,492)
Net increase in cash, cash equivalents, and restricted cash 298,154 85,359
Cash, cash equivalents, and restricted cash — beginning of period 420,497 312,237
Cash, cash equivalents, and restricted cash — end of period 718,651 397,596
Noncash transactions:    
Non-cash additions to property and equipment 2,496 3,977
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 12,427 $ 4,082