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Equity Awards (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Restricted Stock And Restricted Stock Units Activity

Restricted Stock and Restricted Stock Units

The table below sets forth the restricted stock and restricted stock units activity for each of the three years in the period ended December 31, 2019:

​

​	​	​	​	​	​
​		​		Weighted-
​	​	Number of	​	average
​	​	shares or units	​	grant price
Balance, December 31, 2016		727,100	​	$	97.53
Grants		75,140	​		82.18
Vested shares		(84,908)	​		66.60
Forfeitures		(1,204)	​		62.28
Balance, December 31, 2017		716,128	​		99.65
Grants		159,005	​		93.30
Awards assumed through acquisition of CEC		136,324	​		118.29
Vested shares		(236,164)	​		76.78
Forfeitures		(37,343)	​		83.69
Balance, December 31, 2018		737,950	​		114.43
Grants		158,748	​		128.87
Vested shares		(393,588)	​		141.75
Forfeitures		(34,160)	​		79.02
Balance, December 31, 2019		468,950	​	$	98.98

​

Schedule of Stock Option Activity and Other Stock Option Information

Stock Options

The table below sets forth the stock option activity and other stock option information for each of the three years in the period ended December 31, 2019:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted-		​	​
​	​	​	​	​	​	​	average	​	​	​
​	​	​	​	Weighted-		​	remaining	​	Aggregate
​	​	Number of	​	average		​	contractual	​	intrinsic value(1)
​	​	shares	​	exercise price		​	life (years)	​	(in thousands)
Balance, December 31, 2016		100,000	​	$	51.95		4.1	​	$	2,868
Grants		—	​		—	​	​	​	​	​
Exercises		—	​		—	​	​	​	​	​
Forfeitures		—	​		—	​	​	​	​	​
Balance, December 31, 2017		100,000	​		51.95		3.1	​		3,763
Grants		—	​		—	​	​	​	​	​
Awards assumed through acquisition of CEC		319,846	​		66.98	​	​	​	​	​
Exercises		(162,831)	​		58.11	​	​	​	​	​
Forfeitures		(769)	​		51.96	​	​	​	​	​
Balance, December 31, 2018		256,246	​		66.80		7.0	​		11,947
Grants		—	​		—	​	​	​	​	​
Exercises		(208,114)	​		67.61	​	​	​	​	​
Forfeitures/Expirations		(2,036)	​		58.38	​	​	​	​	​
Balance, December 31, 2019		46,096	​	$	63.49		5.2	​	$	4,398
Exercisable, December 31, 2019		24,246	​	$	60.27		4.0	​	$	2,391

(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

The following table reflects the amount of stock-based compensation expense recorded in each of the expense line items for the years ended December 31, 2017, 2018, and 2019 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​		2017			2018			2019
Instructional and support costs	​	$	1,943	​	$	2,588	​	$	3,823
General and administration	​		9,684	​		10,702	​		7,970
Merger and integration costs	​		—	​		2,242	​		367
Stock-based compensation expense included in operating expense	​		11,627	​		15,532	​		12,160
Tax benefit	​		4,593	​		3,922	​		3,126
Stock-based compensation expense, net of tax	​	$	7,034	​	$	11,610	​	$	9,034

​

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