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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 47,536 $ 66,919
Restricted cash 11,735 49,821
Short-term investments 122,859 114,901
Total cash and cash equivalents, restricted cash and short-term investments 182,130 231,641
Student receivables, net of allowance for doubtful accounts of $20,686 and $18,013 as of March 31, 2016 and December 31, 2015, respectively 27,746 31,618
Receivables, other, net 4,375 5,194
Prepaid expenses 14,167 14,380
Inventories 2,505 3,353
Other current assets 2,331 2,523
Assets of discontinued operations 225 254
Total current assets 233,479 288,963
NON-CURRENT ASSETS:    
Property and equipment, net 52,596 58,249
Goodwill 87,356 87,356
Intangible assets, net 9,100 9,300
Student receivables, net of allowance for doubtful accounts of $2,082 and $2,216 as of March 31, 2016 and December 31, 2015, respectively 3,686 3,958
Deferred income tax assets, net 137,716 137,716
Other assets 17,552 16,562
Assets of discontinued operations 8,751 8,811
TOTAL ASSETS [1] 550,236 610,915
CURRENT LIABILITIES:    
Short-term borrowings   38,000
Accounts payable 18,579 25,906
Accrued expenses:    
Payroll and related benefits 30,139 38,789
Advertising and marketing costs 14,308 11,788
Income taxes 5,146 1,061
Other 21,966 24,082
Deferred tuition revenue 35,077 40,112
Liabilities of discontinued operations 9,784 13,067
Total current liabilities 134,999 192,805
NON-CURRENT LIABILITIES:    
Deferred rent obligations 43,244 45,927
Other liabilities 22,508 25,197
Liabilities of discontinued operations 8,075 9,376
Total non-current liabilities $ 73,827 $ 80,500
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; 83,332,387 and 82,996,585 shares issued, 68,337,190 and 68,098,654 shares outstanding as of March 31, 2016 and December 31, 2015, respectively $ 833 $ 830
Additional paid-in capital 611,472 610,784
Accumulated other comprehensive loss (364) (880)
Accumulated deficit (54,507) (57,518)
Cost of 14,995,197 and 14,897,931 shares in treasury as of March 31, 2016 and December 31, 2015, respectively (216,024) (215,606)
Total stockholders' equity 341,410 337,610
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 550,236 $ 610,915
[1] Total assets do not include intercompany receivable or payable activity between schools and corporate and investments in subsidiaries.