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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
CURRENT ASSETS:    
Cash and cash equivalents, unrestricted $ 86,031 $ 105,684
Restricted cash 4,000 4,000
Total cash, cash equivalents and restricted cash 90,031 109,684
Short-term investments 360,986 300,676
Total cash and cash equivalents, restricted cash and short-term investments 451,017 410,360
Student receivables, gross 82,592 84,599
Allowance for credit losses (41,110) (39,917)
Student receivables, net 41,482 44,682
Receivables, other 2,684 2,873
Prepaid expenses 10,023 8,209
Inventories 594 596
Other current assets 253 341
Total current assets 506,053 467,061
NON-CURRENT ASSETS:    
Property and equipment, net of accumulated depreciation of $104,548 and $101,380 as of March 31, 2021 and December 31, 2020, respectively 25,696 27,761
Right of use asset, net 42,425 44,773
Goodwill 118,312 118,312
Intangible assets, net of amortization of $5,011 and $4,178 as of March 31, 2021 and December 31, 2020, respectively 14,689 15,522
Student receivables, gross 3,970 3,533
Allowance for credit losses (2,675) (2,230)
Student receivables, net 1,295 1,303
Deferred income tax assets, net 35,584 40,351
Other assets 6,311 6,434
TOTAL ASSETS [1] 750,365 721,517
CURRENT LIABILITIES:    
Lease liability-operating 9,677 9,789
Accounts payable 10,767 13,259
Accrued expenses:    
Payroll and related benefits 15,207 22,661
Advertising and marketing costs 11,643 10,249
Income taxes 6,627 1,402
Other 12,294 11,921
Deferred revenue 37,004 34,534
Total current liabilities 103,219 103,815
NON-CURRENT LIABILITIES:    
Lease liability-operating 40,423 43,405
Other liabilities 18,378 18,390
Total non-current liabilities 58,801 61,795
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; 87,795,103 and 87,264,910 shares issued, 70,432,568 and 70,062,364 shares outstanding as of March 31, 2021 and December 31, 2020, respectively 878 873
Additional paid-in capital 662,485 658,423
Accumulated other comprehensive income 14 364
Retained earnings 173,088 142,335
Treasury stock, at cost; 17,362,535 and 17,202,546 shares as of March 31, 2021 and December 31, 2020, respectively (248,120) (246,088)
Total stockholders' equity 588,345 555,907
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 750,365 $ 721,517
[1] Total assets do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.