| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
81,138 | -15,671 | 20,612 | 34,802 | 40,023 | 46,356 | 16,425 | 65,930 | 106,044 | 131,260 | 105,078 | 80,808 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Amortization of gain on sale of assets | |||||||||||
0 | 0 | 133 | 281 | 280 | 280 | 281 | 281 | 281 | -281 | -281 | -281 |
Amortization of deferred rent | |||||||||||
- | - | - | -1,441 | -345 | -1,092 | -462 | 323 | 1,177 | 275 | -108 | -525 |
Gain on sale of marketable securities | |||||||||||
- | - | - | - | - | - | - | - | 66 | 406 | - | 785 |
Loss on disposal of assets | |||||||||||
- | - | - | - | - | - | - | - | - | - | -248 | - |
Amortization of deferred financing costs | |||||||||||
333 | 292 | 262 | 262 | 1,229 | 780 | 780 | 795 | 663 | 0 | - | - |
Amortization of investment discount/premium | |||||||||||
-296 | -298 | 0 | - | - | - | - | - | - | - | - | - |
Depreciation and amortization | |||||||||||
104,861 | 54,543 | 18,733 | 17,817 | 18,104 | 20,630 | 35,563 | 23,973 | 21,525 | 17,309 | 13,937 | 10,761 |
Deferred income taxes | |||||||||||
-8,037 | -16,322 | 6,429 | -8,697 | -4,006 | -1,036 | -23,435 | -38 | 3,722 | 353 | -2,564 | 226 |
Share-based Payment Arrangement, Noncash Expense | |||||||||||
12,160 | 15,532 | 11,627 | 10,767 | 10,213 | 9,453 | 9,291 | 5,464 | 13,234 | 11,987 | 10,954 | 10,561 |
Fair value adjustments and impairment of intangible assets | |||||||||||
0 | 19,909 | -7,512 | -3,213 | - | - | - | - | - | - | - | - |
Impairment of right-of-use lease assets | |||||||||||
6,046 | - | - | - | - | - | - | - | - | - | - | - |
Changes in assets and liabilities: | |||||||||||
Tuition receivable, net | |||||||||||
-1,770 | -7,880 | 3,250 | 1,453 | 1,991 | -685 | -4,024 | -1,744 | 2,995 | 4,233 | -5,205 | 30,807 |
Other current assets | |||||||||||
1,589 | -3,768 | 526 | 3,936 | -4,005 | 2,862 | -2,434 | 2,130 | 768 | 1,153 | 232 | 2,217 |
Other assets | |||||||||||
540 | 135 | -1,582 | 1,865 | -22 | -219 | -494 | 135 | -102 | 258 | 896 | 43 |
Accounts payable and accrued expenses | |||||||||||
245 | 1,140 | 4,468 | -262 | -752 | 6,550 | -116 | 5,673 | -3,360 | 10,146 | 5,283 | - |
Accounts payable | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 2,955 |
Accrued expenses | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,264 |
Income taxes payable and income taxes receivable | |||||||||||
1,198 | -516 | -629 | -408 | 1,835 | 737 | 7,799 | -4,306 | -1,279 | -1,358 | 11,645 | 9,745 |
Contract liabilities | |||||||||||
7,716 | -19,329 | 8,212 | 7,018 | - | - | - | - | - | - | - | - |
Excess tax benefits from stock-based payment arrangements | |||||||||||
- | - | - | - | - | - | - | - | - | 2,808 | 3,011 | 18,033 |
Deferred revenue | |||||||||||
- | - | - | - | 12,465 | 11,783 | 2,059 | -14,870 | 11,841 | 1,083 | -3,957 | 23,396 |
Other long-term liabilities | |||||||||||
-3,451 | -4,522 | -3,718 | -4,587 | -2,974 | -13,946 | 29,518 | -80 | 4,804 | 905 | 471 | - |
Deferred lease incentives | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,547 |
Net cash provided by operating activities | |||||||||||
202,146 | 46,867 | 56,157 | 44,523 | 77,548 | 77,977 | 84,093 | 82,062 | 154,363 | 162,821 | 141,772 | 88,572 |
Cash flows from investing activities: | |||||||||||
Net cash acquired in acquisition | |||||||||||
0 | -167,859 | 0 | 7,635 | - | - | - | - | - | - | - | - |
Purchases of property and equipment | |||||||||||
38,689 | 27,547 | 18,051 | 13,161 | 12,692 | 6,902 | 8,726 | 24,733 | 29,991 | 46,015 | 30,431 | 20,657 |
Purchases of marketable securities | |||||||||||
40,481 | 25,304 | 0 | - | - | - | - | - | 2 | 559 | 1,085 | 50,969 |
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | |||||||||||
43,800 | 16,400 | 0 | - | - | - | - | - | - | - | - | - |
Other investments | |||||||||||
2,658 | 1,238 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from the sale of marketable securities | |||||||||||
- | - | - | - | - | - | - | - | 12,388 | 40,700 | - | 76,785 |
Acquisition of assets | |||||||||||
- | - | - | - | - | - | - | - | 7,000 | 0 | - | - |
Net cash used in investing activities | |||||||||||
-38,066 | 130,137 | -18,051 | -20,796 | -12,692 | -6,902 | -8,726 | -24,733 | -24,605 | -5,874 | -31,516 | 5,159 |
Cash flows from financing activities: | |||||||||||
Proceeds from term loan | |||||||||||
- | - | - | - | - | - | - | 47,500 | 100,000 | 0 | - | - |
Payments on revolving credit facility | |||||||||||
- | - | - | - | - | - | - | 83,000 | 100,000 | 0 | - | - |
Proceeds from revolving credit facility | |||||||||||
- | - | - | - | - | - | - | 63,000 | 120,000 | 0 | - | - |
Common dividends paid | |||||||||||
46,625 | 27,842 | 11,416 | - | - | - | - | 47,328 | 49,105 | 44,541 | 31,627 | 23,076 |
Net payments for stock awards | |||||||||||
9,195 | -7,789 | 0 | - | - | - | - | - | - | - | - | - |
Special common dividends paid | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 28,853 |
Net proceeds from exercise of stock options | |||||||||||
- | - | - | - | - | - | - | - | - | 452 | 6,027 | 10,633 |
Payments on term loan | |||||||||||
- | - | - | - | 118,750 | 3,125 | 3,125 | 20,000 | 2,500 | 0 | - | - |
Payments of contingent consideration | |||||||||||
- | - | - | 1,358 | 650 | 427 | - | - | - | - | - | - |
Payment of deferred financing costs | |||||||||||
0 | 1,162 | 0 | - | 850 | - | 0 | 2,120 | 2,459 | 0 | - | - |
Excess tax benefits from stock-based payment arrangements | |||||||||||
- | - | - | - | - | - | - | - | - | 2,808 | 3,011 | 18,033 |
Repurchase of common stock | |||||||||||
- | - | - | - | - | - | 24,999 | 25,001 | 202,664 | 115,517 | 80,088 | 109,125 |
Net cash used in financing activities | |||||||||||
-55,820 | -21,215 | -11,416 | -1,358 | -120,250 | -3,552 | -28,124 | -66,949 | -136,728 | -156,798 | -102,677 | -132,388 |
Net increase in cash, cash equivalents, and restricted cash | |||||||||||
108,260 | 155,789 | 26,690 | 22,369 | -55,394 | 67,523 | 47,243 | -9,620 | -6,970 | 149 | 7,579 | -38,657 |
Noncash transactions: | |||||||||||
Non-cash additions to property and equipment | |||||||||||
3,406 | 1,029 | 1,734 | 349 | 365 | 412 | 47 | 529 | 1,115 | 5,508 | 2,917 | 811 |