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Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
REVENUE:      
Tuition and registration fees $ 1,827,164 $ 2,007,903 $ 1,729,496
Other 57,341 81,270 72,905
Total revenue 1,884,505 [1] 2,089,173 [1] 1,802,401
OPERATING EXPENSES:      
Educational services and facilities 632,593 626,254 593,398
General and administrative 936,714 1,080,148 916,715
Depreciation and amortization 84,512 70,043 64,574
Goodwill and asset impairment 191,524 71,829 2,500
Total operating expenses 1,845,343 1,848,274 1,577,187
Operating income 39,162 [1] 240,899 [1] 225,214
OTHER INCOME (EXPENSE):      
Interest income 1,376 1,138 2,268
Interest expense (563) (381) (225)
Miscellaneous income (expense) 1,972 (484) (788)
Total other income 2,785 273 1,255
PRETAX INCOME 41,947 241,172 226,469
Provision for income taxes 46,146 78,401 79,604
(LOSS) INCOME FROM CONTINUING OPERATIONS (4,199) 162,771 146,865
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, net of tax 22,772 (4,998) (65,646)
NET INCOME $ 18,573 $ 157,773 $ 81,219
NET (LOSS) INCOME PER SHARE-BASIC:      
(Loss) income from continuing operations $ (0.06) $ 2.04 $ 1.71
Income (loss) from discontinued operations $ 0.31 $ (0.07) $ (0.76)
Net income $ 0.25 [2] $ 1.97 [2] $ 0.95
NET (LOSS) INCOME PER SHARE-DILUTED:      
(Loss) income from continuing operations $ (0.06) $ 2.01 $ 1.70
Income (loss) from discontinued operations $ 0.31 $ (0.06) $ (0.76)
Net income $ 0.25 [2] $ 1.95 [2] $ 0.94
WEIGHTED AVERAGE SHARES OUTSTANDING:      
Basic 74,498 [3] 79,902 85,838
Diluted 74,498 [3] 80,850 86,418
[1] As of December 31, 2011, the results of operations for Istituto Marangoni along with our campuses that had previously ceased operations or were sold are presented within discontinued operations for all periods presented.
[2] Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the annual earnings per share amount for the corresponding year.
[3] Due to the fact that we had a loss from continuing operations for the year ended December 31, 2011, potential common stock equivalents are excluded from the diluted common shares outstanding calculation. Per FASB ASC Topic 260—Earnings Per Share, an entity that reports discontinued operations shall use income or loss from continuing operations as the benchmark for calculating diluted common shares outstanding, and as such, we have zero common stock equivalents since these shares would have an anti-dilutive effect on our net income per share for the year ended December 31, 2011.