XML 15 R6.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
CASH FLOW FROM OPERATING ACTIVITIES:    
Net Income (Loss) $ 45,787 $ (28,578)
Loss from Discontinued Operations 38,177 45,539
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:    
Stock-Based Compensation Expense 10,369 11,517
Depreciation 31,758 33,554
Amortization of Intangible Assets 6,231 7,333
Amortization of Deferred Debt Issuance Costs 1,175 528
Provision for Bad Debts 11,203 13,370
Deferred Income Taxes 23,717 3,541
Loss on Disposals, Accelerated Depreciation and Adjustments to Land, Building and Equipment 44,489 29,964
Realized Loss on Investments 193 0
Unrealized Loss on Investments 214 0
Insurance Settlement Gain (15,571) 0
Changes in Assets and Liabilities:    
Accounts Receivable (20,838) (18,967)
Prepaid Expenses and Other (39,127) (30,625)
Accounts Payable (4,292) (3,960)
Accrued Salaries, Wages, Benefits and Liabilities (4,566) (29,538)
Deferred Revenue 15,688 29,003
Income Taxes Payable, Long-Term 0 88,562
Net Cash Provided by Operating Activities-Continuing Operations 144,607 151,243
Net Cash (Used in) Provided by Operating Activities-Discontinued Operations (16,072) 32,021
NET CASH PROVIDED BY OPERATING ACTIVITIES 128,535 183,264
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital Expenditures (50,853) (50,433)
Insurance Proceeds Received for Damage to Buildings and Equipment 35,706 0
Sales of Marketable Securities 1,625 0
Purchases of Marketable Securities (6,070) (145)
Payment for Purchase of Businesses, Net of Cash Acquired 0 (4,041)
Loan to DeVry University (see "Note 2: Discontinued Operations") (10,000) 0
Net Cash Used in Investing Activities-Continuing Operations (29,592) (54,619)
Net Cash (Used in) Provided by Investing Activities-Discontinued Operations (1,833) 5,189
Cash and Restricted Cash Transferred in Divestitures of Discontinued Operations (48,876) 0
NET CASH USED IN INVESTING ACTIVITIES (80,301) (49,430)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Exercise of Stock Options 16,825 22,557
Employee Taxes Paid on Withholding Shares (6,527) (3,862)
Proceeds from Stock Issued Under Colleague Stock Purchase Plan 421 585
Repurchase of Common Stock for Treasury (176,903) (111,626)
Payments of Seller Financed Obligations (2,154) (10,559)
Borrowings Under Credit Facility 0 258,000
Repayments Under Credit Facility (2,250) (263,000)
NET CASH USED IN FINANCING ACTIVITIES (170,588) (107,905)
Effects of Exchange Rate Differences (449) (714)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (122,803) 25,215
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 444,405 251,096
Cash, Cash Equivalents and Restricted Cash at End of Period 321,602 276,311
Less: Cash, Cash Equivalents and Restricted Cash of Discontinued Operations at End of Period 0 10,488
Cash, Cash Equivalents and Restricted Cash at End of Period 321,602 265,823
Non-cash Investing and Financing Activity:    
(Decrease) Increase in Redemption Value of Noncontrolling Interest Put Options $ (745) $ 573