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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income (loss) $ 759 $ (17,271)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Depreciation and amortization 6,462 7,292
Provision for doubtful accounts 16,615 15,305
Deferred income taxes (2,317) (15,384)
Stock-based compensation expense 2,551 3,093
Settlement cost 0 (46,000)
Accretion of discount on PEAKS Trust student loans (3,133) (1,360)
Accretion of discount on PEAKS Trust senior debt 6,452 652
Loss on consolidation of PEAKS Trust 0 73,248
Other (180) 295
Changes in operating assets and liabilities, net of acquisition:    
Restricted cash 1,343 (1,512)
Accounts receivable 6,302 (42,685)
PEAKS Trust student loans 4,010 1,187
Accounts payable 9,315 409
Other operating assets and liabilities (4,032) (5,912)
Deferred revenue (7,229) (15,272)
Net cash flows from operating activities 36,918 (43,915)
Cash flows from investing activities:    
Facility expenditures (12) (100)
Capital expenditures, net (1,498) (1,418)
Acquisition of company (4,449) 0
Proceeds from repayment of notes 96 215
Note advances 0 (1,241)
Net cash flows from investing activities (5,863) (2,544)
Cash flows from financing activities:    
Proceeds from revolving borrowings 0 10,000
Repayment of PEAKS Trust senior debt (41,070) 0
Repurchase of common stock and shares tendered for taxes (721) (368)
Net cash flows from financing activities (41,791) 9,632
Net change in cash and cash equivalents (10,736) (36,827)
Cash and cash equivalents at beginning of period 215,771 243,465
Cash and cash equivalents at end of period $ 205,035 $ 206,638