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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 18,110 $ 49,507
Restricted cash 789 1,375
Restricted short-term investments 5,070 8,597
Short-term investments 156,178 147,681
Total cash and cash equivalents, restricted cash and short-term investments 180,147 207,160
Student receivables, net of allowance for doubtful accounts of $20,533 and $21,376 as of December 31, 2017 and 2016, respectively 18,875 22,825
Receivables, other, net 1,163 929
Prepaid expenses 7,722 14,446
Inventories 1,112 1,868
Other current assets 1,319 817
Assets of discontinued operations 382 148
Total current assets 210,720 248,193
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $213,825 and $381,415 as of December 31, 2017 and 2016, respectively 33,230 40,512
Goodwill 87,356 87,356
Intangible assets, net of amortization of $1,400 and $800 as of December 31, 2017 and 2016, respectively 7,900 8,500
Student receivables, net of allowance for doubtful accounts of $2,001 and $1,766 as of December 31, 2017 and 2016, respectively 2,548 3,055
Deferred income tax assets, net 98,084 158,272
Other assets 5,673 7,608
Assets of discontinued operations 1,585 6,105
TOTAL ASSETS [1] 447,096 559,601
CURRENT LIABILITIES:    
Accounts payable 8,515 10,099
Accrued expenses:    
Payroll and related benefits 32,910 41,203
Advertising and marketing costs 9,245 10,253
Income taxes 2,185 1,830
Other 31,233 69,244
Deferred tuition revenue 22,897 28,364
Liabilities of discontinued operations 5,701 8,219
Total current liabilities 112,686 169,212
NON-CURRENT LIABILITIES:    
Deferred rent obligations 15,277 30,713
Other liabilities 22,143 31,751
Liabilities of discontinued operations 785 6,422
Total non-current liabilities 38,205 68,886
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; 84,279,533 and 83,538,033 shares issued, 69,117,803 and 68,519,005 shares outstanding as of December 31, 2017 and 2016, respectively 843 835
Additional paid-in capital 621,008 613,325
Accumulated other comprehensive loss (164) (258)
Accumulated deficit (108,127) (76,230)
Cost of 15,161,730 and 15,019,028 shares in treasury as of December 31, 2017 and 2016, respectively (217,355) (216,169)
Total stockholders' equity 296,205 321,503
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 447,096 $ 559,601
[1] The statement of (loss) income and comprehensive (loss) income balances including revenue, operating income (loss), depreciation and amortization and capital expenditures are presented above on a continuing operations basis. Total assets are presented on a consolidated basis including continuing and discontinued operations.