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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Operating activities:    
Net income $ 19,672 $ 7,921
(Income) loss from discontinued operations (961) 29,085
Income from continuing operations 18,711 37,006
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 8,547 7,360
Amortization and adjustments to operating lease assets 21,309 0
Depreciation 17,224 15,913
Amortization 5,893 3,995
Provision for bad debts 11,436 2,657
Deferred income taxes 2,131 22,924
Loss on disposals, accelerated depreciation, and adjustments to property and equipment 1,100 39,949
Realized and unrealized (gain) loss on investments (442) 1,122
Realized gain on sale of assets (4,779) 0
Insurance settlement gain 0 (15,571)
Unrealized loss on derivative 28,006 0
Changes in assets and liabilities:    
Accounts receivable (14,779) (14,430)
Prepaid expenses and other current assets (19,445) (21,131)
Accounts payable (20,906) 2,785
Accrued payroll and benefits (7,576) (13,341)
Accrued liabilities (916) 3,802
Deferred revenue (44,531) (51,850)
Operating lease liabilities (27,549) 0
Other assets and liabilities 2,270 (19,126)
Net cash (used in) provided by operating activities-continuing operations (24,296) 2,064
Net cash provided by operating activities-discontinued operations 10,622 20,957
Net cash (used in) provided by operating activities (13,674) 23,021
Investing activities:    
Capital expenditures (20,311) (32,058)
Insurance proceeds received for damage to buildings and equipment 0 35,706
Proceeds from sales of marketable securities 702 1,136
Purchases of marketable securities (753) (5,290)
Proceeds from sale of assets 6,421 0
Cash received on purchase price adjustment 92 0
Loan to DeVry University 0 (10,000)
Net cash used in investing activities-continuing operations (13,849) (10,506)
Net cash used in investing activities-discontinued operations (2,585) (5,130)
Cash and restricted cash transferred in divestitures of discontinued operations 0 (48,876)
Net cash used in investing activities (16,434) (64,512)
Financing activities:    
Proceeds from exercise of stock options 2,028 16,784
Employee taxes paid on withholding shares (5,232) (6,401)
Proceeds from stock issued under Colleague Stock Purchase Plan 0 312
Repurchases of common stock for treasury (100,019) (115,933)
Borrowings under credit facility 160,000 0
Repayments under credit facility (146,500) (1,500)
Proceeds from down payment on seller loan 5,200 0
Payment for purchase of redeemable noncontrolling interest of subsidiary (6,247) 0
Net cash used in financing activities-continuing operations (90,770) (106,738)
Net cash used in financing activities-discontinued operations (1,765) (846)
Net cash used in financing activities (92,535) (107,584)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3,037) 289
Net decrease in cash, cash equivalents and restricted cash (125,680) (148,786)
Cash, cash equivalents and restricted cash at beginning of period 300,467 444,405
Cash, cash equivalents and restricted cash at end of period 174,787 295,619
Less: cash, cash equivalents and restricted cash of discontinued operations at end of period 104,040 86,506
Cash, cash equivalents and restricted cash at end of period $ 70,747 $ 209,113