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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2015
Business Combinations [Abstract]  
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
Valuations were as follows (in thousands):
 
Fair value
Tangible assets acquired, including cash acquired of $38,874
$
77,181

Liabilities assumed
(21,845
)
Identifiable net assets acquired
$
55,336

Fair value adjustments for intangible assets:
 
Advisor relationships
$
240,300

Sponsor relationships
16,500

Curriculum
800

Proprietary technology
13,600

Trade name
52,500

Fair value of intangible assets acquired
$
323,700

Purchase price allocation:
 
Cash paid
$
610,500

Plus: promissory note
6,400

Plus: non-controlling interest
15,038

Less: escrow receivable
(20,000
)
Purchase price
611,938

Less: identifiable net assets acquired
(55,336
)
Less: fair value of intangible assets acquired
(323,700
)
Plus: deferred tax liability related to intangible assets
123,484

Excess of purchase price over net assets acquired, allocated to goodwill
$
356,386
Business Acquisition, Pro Forma Information
The following pro forma financial information is presented for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved had the acquisition occurred at the beginning of each period presented (in thousands):
 
Years ended December 31,
 
2015
 
2014
Revenue
$
437,447

 
$
408,573

Loss from continuing operations
$
(12,793
)
 
$
(16,727
)