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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash, cash equivalents, and restricted cash (Note 2) $ 139,403 $ 129,458
Accounts receivable, net of allowance of $13,170 in 2023 and $13,328 in 2022 30,459 42,353
Prepaid expenses 15,416 11,409
Income tax receivable 3,698 2,871
Total current assets 188,976 186,091
Property and equipment, net 99,592 100,892
Operating lease assets, net 105,155 108,870
Deferred income taxes 52,688 35,355
Goodwill 59,593 112,593
Intangible assets, net 35,845 54,734
Other assets, net 16,958 16,521
Total assets 558,807 615,056
Current liabilities:    
Accounts payable 5,657 3,808
Accrued compensation and benefits 17,717 15,010
Accrued liabilities 13,231 13,784
Deferred revenue and student deposits 28,553 23,760
Lease liabilities, current 14,032 14,396
Total current liabilities 79,190 70,758
Lease liabilities, long-term 100,796 101,420
Long-term debt, net 93,941 93,151
Total liabilities 273,927 265,329
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, $.01 par value; 10,000,000 shares authorized; 400 shares issued and outstanding in 2023 and 2022, respectively. ($147,470 and $155,587 liquidation preference per share, $58,988 and $62,235 in aggregate, for 2023 and 2022, respectively) (Note 12) 39,691 39,691
Common stock, $.01 par value; 100,000,000 shares authorized; 17,770,389 issued and outstanding in 2023; 18,892,791 issued and outstanding in 2022 178 189
Additional paid-in capital 296,142 292,854
Accumulated other comprehensive income 2,880 3,102
(Accumulated deficit) retained earnings (54,011) 13,891
Total stockholders’ equity 284,880 349,727
Total liabilities and stockholders’ equity $ 558,807 $ 615,056