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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 30,662 $ 28,341
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of property and equipment (2,136) 0
Amortization of deferred financing costs 416 414
Amortization of investment discount/premium (40) 29
Depreciation and amortization 44,881 49,193
Deferred income taxes (5,947) (9,213)
Stock-based compensation 15,202 16,209
Impairment of right-of-use lease assets 5,135 1,185
Changes in assets and liabilities:    
Tuition receivable, net (35,113) (33,320)
Other assets (12,456) 417
Accounts payable and accrued expenses 11,119 6,768
Income taxes payable and income taxes receivable (14,669) 4,498
Contract liabilities 52,836 65,437
Other liabilities (2,717) (5,226)
Net cash provided by operating activities 87,173 124,732
Cash flows from investing activities:    
Purchases of property and equipment (27,318) (32,508)
Purchases of marketable securities (16,904) 0
Proceeds from marketable securities 8,175 2,600
Proceeds from sale of property and equipment 5,890 0
Proceeds from other investments 457 0
Other investments (314) (223)
Cash paid for acquisition, net of cash acquired (448) (193)
Net cash used in investing activities (30,462) (30,324)
Cash flows from financing activities:    
Common dividends paid (44,139) (44,600)
Payments on long-term debt (40,000) 0
Net payments for stock awards (4,925) (2,973)
Repurchase of common stock (9,999) (36,916)
Net cash used in financing activities (99,063) (84,489)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (3,657) (10,729)
Net decrease in cash, cash equivalents, and restricted cash (46,009) (810)
Cash, cash equivalents, and restricted cash — beginning of period 227,454 279,212
Cash, cash equivalents, and restricted cash — end of period 181,445 278,402
Non-cash transactions:    
Non-cash additions to property and equipment 2,110 1,910
Right-of-use lease assets obtained in exchange for operating lease liabilities $ 8,329 $ 4,278