Zovio inc (BPI)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities:
Net income (loss)

-54,812

4,636

9,111

-33,051

-70,454

9,668

45,883

121,146

171,078

127,580

47,105

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for bad debts

16,252

22,834

30,294

32,022

29,863

28,184

47,119

52,767

43,203

39,631

23,205

Depreciation and amortization

10,229

6,786

8,863

13,082

19,578

23,317

21,666

17,424

12,743

8,565

5,890

Amortization of premium/discount

0

0

-20

-68

-475

-206

-2,624

-8,992

-3,969

-663

66

Deferred income taxes

-36

-19

-600

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

28

40,944

-7,096

-6,962

-11,373

5,601

-5,366

-12,418

Stock-based compensation

12,340

4,787

3,632

7,317

9,710

10,558

13,934

13,729

10,595

7,939

35,943

Noncash lease expense

19,261

0

0

-

-

-

-

-

-

-

-

Excess tax benefit of option exercises

-

-

-

-

460

1,271

2,590

10,058

19,096

6,966

-

Loss on impairment of student loans receivable

-

-

-

7,542

1,328

2,435

1,998

0

0

-

-

Net loss (gain) on marketable securities

308

-89

274

164

-

-

-

-

-

-

-

Net loss (gain) on marketable securities

-

-

-

-

-91

34

63

0

0

-

-

Reassessment of lease charges

558

2,943

5,829

13,244

17,047

6,470

328

0

0

-

-

Excess tax benefit of option exercises

-

-

-

-

-

-

-

-

-

-

5,454

Stockholder settlement (non-cash portion)

-

-

-

-

-

-

-

-

-

-

10,577

Loss on disposal or impairment of fixed assets

-208

-1,406

-864

-3,024

-44,949

-7,028

-751

-1,153

-13

-73

-38

Loss on impairment of goodwill and intangibles

670

495

0

0

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-10,048

-6,721

4,855

-

-

Accounts receivable

18,537

27,007

30,343

31,724

32,383

27,323

15,973

62,333

43,300

54,101

37,300

Prepaid expenses and other current assets

-3,874

-4,133

-280

-13,225

14,446

-659

2,607

2,387

3,547

2,665

2,520

Student loans receivable

-

-

-

-876

-1,139

-809

-291

5,742

6,021

2,444

-

Student loans receivable

-

-

-

-

-

-

-

-

-

-

-1,202

Other long-term assets

7

-2,843

3,066

-3,274

2,845

-266

412

-2,131

-253

1,964

1,373

Accounts payable and accrued liabilities

1,939

-12,190

-12,908

4,778

1,104

-12,102

13,220

12,100

27,509

18,530

10,906

Deferred revenue and student deposits

-11,099

-6,598

-5,605

-

-

-

-

-

-

-

-

Operating lease liabilities

-22,967

0

0

-

-

-

-

-

-

-

-

Deferred revenue and student deposits

-

-

-

-13,572

-19,170

-24,411

-41,607

-3,921

11,870

51,824

54,327

Other liabilities

-3,651

-12,729

-10,172

-8,886

-7,669

-3,186

-184

8,772

5,882

4,038

2,917

Uncertain tax position

-

-

-

-

-

-

-1,878

784

57

-4,612

-

Uncertain tax position

-

-

-

-

-

-

-

-

-

-

1,152

Net cash used in operating activities

-46,086

-7,591

-4,075

11,083

18,801

14,177

85,586

149,905

215,954

189,949

131,727

Cash flows from investing activities:
Capital expenditures

31,029

2,581

3,387

1,925

2,477

11,429

14,825

25,296

34,492

26,568

24,249

Purchases of investments

126

1,067

315

20,260

20,280

87,933

26,759

179,387

337,084

111,690

44,922

Non-operating restricted cash

-

-

-

-

-

-

0

-25

0

0

-641

Business acquisition

-

-

-

-

-

-

-

-

-

-

1,500

Capitalized costs for intangible assets

750

873

553

830

2,153

3,634

19,563

5,262

3,521

1,214

0

Payments to Acquire Businesses, Net of Cash Acquired

19,489

0

0

-

-

-

-

-

-

-

-

Sales of investments

0

975

214

0

10,101

30,000

-

-

-

-

-

Maturities of investments

0

0

47,725

37,756

66,096

40,000

176,343

186,911

167,049

45,000

0

Net cash used in investing activities

-51,394

-3,546

43,684

14,741

51,287

-32,996

115,196

-23,009

-208,048

-94,472

-70,030

Cash flows from financing activities:
Proceeds from exercise of stock options

60

455

3,848

1,331

284

3,108

10,464

2,257

4,889

1,040

344

Proceeds from failed sale-leaseback transaction

-

-

-

-

4,141

0

0

-

-

-

-

Payments Related to Tax Withholding for Share-based Compensation

0

1,097

0

0

-

-

9,170

10,418

0

0

-

Proceeds from the issuance of stock under employee stock purchase plan

-

-

-

-

3,285

5,327

-

-

-

-

-

Excess tax benefit of option exercises

-

-

-

-

460

1,271

2,590

10,058

19,096

6,966

5,454

Proceeds from the issuance of stock under employee stock purchase plan

192

210

289

246

261

0

1,234

1,340

1,330

1,107

616

Proceeds from the exercise of warrants

-

-

-

-

-

-

231

490

106

1,193

1,002

Tax withholdings related to net exercise of warrants

-

-

-

-

-

-

-

944

0

0

-

Tax withholdings on issuance of stock awards

819

949

1,860

1,896

1,341

2,095

1,080

313

0

0

-

Payments on leases payable

-

-

-

-

-

-

-

-

-

634

197

Payments on conversion of preferred stock

-

-

-

-

-

-

-

-

-

-

-27,707

Repurchase of common stock

0

2,424

168,695

0

0

-

201,496

602

92,778

42,193

0

Payments of notes payable

-

-

-

-

-

-

-

-

-

-

234

Net cash provided by (used in) financing activities

-567

-3,805

-166,418

-319

3,805

2,284

-197,227

1,868

-67,357

-32,521

7,382

Net decrease in cash, cash equivalents and restricted cash

-98,047

-14,942

-126,809

25,505

73,893

-

-

-

-

-

-

Supplemental disclosure of non-cash transactions:
Cash paid for interest

106

73

65

-

-

-

-

-

-

-

-

Cash paid for interest

-

-

-

62

198

128

146

130

56

57

201

Cash (received) paid for income taxes, net

-1,468

-3,380

387

-20,788

6,136

15,534

-

-

-

-

-

Cash paid for income taxes

-

-

-

-

-

-

38,642

65,075

76,731

88,883

38,457

Supplemental disclosure of non-cash transactions:
Purchase of property and equipment through capital lease obligations

-

-

-

-

-

-

-

-

-

-

381

Purchase of equipment included in accounts payable and accrued liabilities

721

25

379

0

4,160

109

136

509

2,489

1,707

749

Issuance of common stock for vested restricted stock units

2,679

2,760

4,779

4,847

-

-

-

-

-

-

-

Reconciliation of cash, cash equivalents, and restricted cash:
Property and equipment under build-to-suit leases

0

9,861

0

0

-

-

-

-

-

-

-

Consideration for acquisition in accounts payable and accrued liabilities

441

0

-

-

-

-

-

-

-

-

-

Issuance of common stock for acquisitions

14,363

0

0

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents and restricted cash

-98,047

-14,942

-126,809

25,505

73,893

-16,535

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

3,555

128,764

-59,451

62,956

69,079

Issuance of common stock for vested restricted stock units

-

-

-

-

-

-

-

-

-

-

28,104