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Acquisition of Torrens University and Associated Assets in Australia and New Zealand (Tables) | 3 Months Ended
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Mar. 31, 2021
Business Combinations [Abstract] |
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 | $ | 16,082 |
Tuition receivable | 24,447 |
Other current assets | 17,713 |
Property and equipment, net | 41,508 |
Right-of-use lease assets | 44,229 |
Intangible assets | 103,161 |
Goodwill | 546,315 |
Other assets | 2,799 |
Total assets acquired | 796,254 |
Accounts payable and accrued expenses | (33,876) |
Income taxes payable | (229) |
Contract liabilities | (33,309) |
Lease liabilities | (9,685) |
Deferred income taxes | (18,712) |
Lease liabilities, non-current | (34,544) |
Other long-term liabilities | (7,520) |
Total liabilities assumed | (137,875) |
Total consideration | $ | 658,379 |
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 | $ | 68,774 |  |  | Indefinite
Student relationships | 34,387 |  |  | 3
| $ | 103,161 |  |  |

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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 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=121647850&loc=d3e4845-128472 + Details
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