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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 147,120 $ 319,982
Restricted cash 2,191 5,196
Total cash, cash equivalents and restricted cash 149,311 325,178
Short-term investments 375,871 174,213
Total cash and cash equivalents, restricted cash and short-term investments 525,182 499,391
Student receivables, gross 83,850 79,418
Allowance for credit losses (40,791) (36,385)
Student receivables, net 43,059 43,033
Receivables, other 2,261 1,692
Prepaid expenses 9,251 6,919
Inventories 2,041 904
Other current assets 521 2,514
Total current assets 582,315 554,453
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $119,178 and $113,711 as of September 30, 2022 and December 31, 2021, respectively 26,290 28,355
Right of use asset, net 30,313 36,664
Goodwill 184,135 162,579
Intangible assets, net of amortization of $14,008 and $8,662 as of September 30, 2022 and December 31, 2021, respectively 44,262 32,208
Student receivables, gross 4,226 4,242
Allowance for credit losses (2,898) (2,870)
Student receivables, net 1,328 1,372
Deferred income tax assets, net 24,015 25,114
Other assets 6,545 6,688
TOTAL ASSETS [1] 899,203 847,433
CURRENT LIABILITIES:    
Lease liability-operating 5,963 9,400
Accounts payable 13,285 10,838
Accrued expenses:    
Payroll and related benefits 26,733 25,312
Advertising and marketing costs 9,550 8,690
Income taxes 8,082 211
Other 14,813 15,180
Deferred revenue 61,978 70,613
Total current liabilities 140,404 140,244
NON-CURRENT LIABILITIES:    
Lease liability-operating 30,385 35,549
Other liabilities 22,192 21,530
Total non-current liabilities 52,577 57,079
STOCKHOLDERS' EQUITY:    
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 300,000,000 shares authorized; 89,365,126 and 88,724,438 shares issued, 67,144,419 and 68,748,662 shares outstanding as of September 30, 2022 and December 31, 2021, respectively 894 887
Additional paid-in capital 681,385 674,242
Accumulated other comprehensive loss (6,317) (96)
Retained earnings 331,884 251,972
Treasury stock, at cost; 22,220,707 and 19,975,776 shares as of September 30, 2022 and December 31, 2021, respectively (301,624) (276,895)
Total stockholders' equity 706,222 650,110
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 899,203 $ 847,433
[1] Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.