$APEI
AMERICAN PUBLIC EDUCATION INC Stock $apei

$apei Overview Financials Valuation SEC Filings Company Website

2014 Q4 Form 10-Q Financial Statement

#000115752314004455 Filed on November 06, 2014

Income Statement

Concept	2014 Q4	2014 Q3	2013 Q3
Revenue	$91.30M	$84.71M	$81.78M
YoY Change	10.08%	3.58%	6.04%
Cost Of Revenue	$31.59M	$30.63M	$28.14M
YoY Change	8.82%	8.85%	6.43%
Gross Profit	$59.70M	$54.08M	$53.64M
YoY Change	10.76%	0.82%	5.82%
Gross Profit Margin	65.39%	63.84%	65.59%
Selling, General & Admin	$36.86M	$35.38M	$32.76M
YoY Change	3.05%	8.01%	7.72%
% of Gross Profit	61.74%	65.42%	61.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$4.220M	$4.050M	$3.380M
YoY Change	16.9%	19.82%	22.46%
% of Gross Profit	7.07%	7.49%	6.3%
Operating Expenses	$41.08M	$35.38M	$32.76M
YoY Change	4.29%	8.01%	7.72%
Operating Profit	$18.62M	$14.65M	$17.51M
YoY Change	27.56%	-16.34%	-0.23%
Interest Expense	$80.00K	$98.00K	$77.00K
YoY Change	0.0%	27.27%	156.67%
% of Operating Profit	0.43%	0.67%	0.44%
Other Income/Expense, Net
YoY Change
Pretax Income	$18.71M	$14.75M	$17.58M
YoY Change	28.17%	-16.15%	0.21%
Income Tax	$6.770M	$5.877M	$6.612M
% Of Pretax Income	36.19%	39.86%	37.6%
Net Earnings	$11.80M	$8.842M	$10.91M
YoY Change	31.12%	-18.96%	0.8%
Net Earnings / Revenue	12.92%	10.44%	13.34%
Basic Earnings Per Share	$0.69	$0.51	$0.62
Diluted Earnings Per Share	$0.68	$0.51	$0.61
COMMON SHARES
Basic Shares Outstanding	17.26M shares	17.26M shares	17.66M shares
Diluted Shares Outstanding		17.36M shares	17.88M shares

Balance Sheet

Concept	2014 Q4	2014 Q3	2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$115.6M	$108.6M	$143.8M
YoY Change	21.94%	-24.48%	41.54%
Cash & Equivalents	$115.6M	$108.6M	$143.8M
Short-Term Investments
Other Short-Term Assets	$12.40M	$15.00M	$8.100M
YoY Change	37.78%	85.19%	-27.03%
Inventory
Prepaid Expenses	$6.379M	$6.224M	$4.131M
Receivables	$6.130M	$6.624M	$7.004M
Other Receivables	$2.100M	$0.00	$1.900M
Total Short-Term Assets	$136.2M	$130.3M	$160.8M
YoY Change	16.84%	-19.0%	18.35%
LONG-TERM ASSETS
Property, Plant & Equipment	$102.4M	$96.19M	$88.10M
YoY Change	12.89%	9.18%	10.84%
Goodwill	$38.63M	$38.63M
YoY Change	1.27%
Intangibles	$6.808M
YoY Change	-14.35%
Long-Term Investments	$12.05M	$12.19M	$10.56M
YoY Change	13.72%	15.47%	56.4%
Other Assets	$8.577M	$8.833M	$1.266M
YoY Change	-10.58%	597.71%	25.6%
Total Long-Term Assets	$161.7M	$162.2M	$105.9M
YoY Change	4.27%	53.18%	13.6%
TOTAL ASSETS
Total Short-Term Assets	$136.2M	$130.3M	$160.8M
Total Long-Term Assets	$161.7M	$162.2M	$105.9M
Total Assets	$297.9M	$292.5M	$266.7M
YoY Change	9.66%	9.66%	16.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$11.03M	$11.89M	$12.18M
YoY Change	-4.62%	-2.39%	-35.94%
Accrued Expenses	$13.42M	$13.90M	$14.19M
YoY Change	-24.91%	-2.09%	-12.4%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$48.25M	$53.05M	$55.13M
YoY Change	-11.07%	-3.79%	-13.63%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$48.25M	$53.05M	$55.13M
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$63.69M	$67.63M	$65.50M
YoY Change	-1.39%	3.25%	-10.88%
SHAREHOLDERS EQUITY
Retained Earnings	$64.39M	$56.54M	$39.17M
YoY Change	53.39%	44.35%	148.69%
Common Stock	$169.8M	$168.3M	$162.1M
YoY Change	2.87%	3.87%	6.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$234.2M	$224.9M	$201.2M
YoY Change
Total Liabilities & Shareholders Equity	$297.9M	$292.5M	$266.7M
YoY Change	9.66%	9.66%	16.42%

Cashflow Statement

Concept	2014 Q4	2014 Q3	2013 Q3
OPERATING ACTIVITIES
Net Income	$11.80M	$8.842M	$10.91M
YoY Change	31.12%	-18.96%	0.8%
Depreciation, Depletion And Amortization	$4.220M	$4.050M	$3.380M
YoY Change	16.9%	19.82%	22.46%
Cash From Operating Activities	$13.86M	$24.94M	$19.56M
YoY Change	166.03%	27.51%	65.76%
INVESTING ACTIVITIES
Capital Expenditures	-$9.370M	$6.043M	$4.172M
YoY Change	67.32%	44.85%	-143.19%
Acquisitions
YoY Change
Other Investing Activities	$6.400M	-$10.00K	$0.00
YoY Change	-114.43%		-100.0%
Cash From Investing Activities	-$2.970M	-$6.140M	-$4.210M
YoY Change	-94.06%	45.84%	-81.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-3.900M	40.00K	310.0K
YoY Change	-7.58%	-87.1%	-106.83%
NET CHANGE
Cash From Operating Activities	13.86M	24.94M	19.56M
Cash From Investing Activities	-2.970M	-6.140M	-4.210M
Cash From Financing Activities	-3.900M	40.00K	310.0K
Net Change In Cash	6.990M	18.84M	15.66M
YoY Change	-114.27%	20.31%	-203.37%
FREE CASH FLOW
Cash From Operating Activities	$13.86M	$24.94M	$19.56M
Capital Expenditures	-$9.370M	$6.043M	$4.172M
Free Cash Flow	$23.23M	$18.90M	$15.39M
YoY Change	114.89%	22.8%	-28.29%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2014Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	17259000	shares
CY2014Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2014Q4	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	17264595	shares
CY2013Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	143780000
CY2013Q3	us-gaap	Assets Assets	266737000
CY2014Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	17259000	shares
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	29.92
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	453231	shares
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	29.92
CY2014Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2014Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2014Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2014Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2014Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	453231	shares
CY2014Q3	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2014Q3	us-gaap	Liabilities Current LiabilitiesCurrent	53047000
CY2014Q3	us-gaap	Common Stock Value CommonStockValue	173000
CY2014Q3	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2014Q3	us-gaap	Accounts Payable Current AccountsPayableCurrent	11888000
CY2014Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	56544000
CY2014Q3	us-gaap	Deferred Tax Liabilities Noncurrent DeferredTaxLiabilitiesNoncurrent	14578000
CY2014Q3	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	168169000
CY2014Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	13896000
CY2014Q3	us-gaap	Stockholders Equity StockholdersEquity	224886000
CY2014Q3	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	292511000
CY2014Q3	us-gaap	Liabilities Liabilities	67625000
CY2014Q3	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	19364000
CY2014Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	108639000
CY2014Q3	us-gaap	Goodwill Goodwill	38634000
CY2014Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	96188000
CY2014Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	2024000
CY2014Q3	us-gaap	Equity Method Investments EquityMethodInvestments	12190000
CY2014Q3	us-gaap	Notes And Loans Receivable Net Noncurrent NotesAndLoansReceivableNetNoncurrent	6400000
CY2014Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	2024000
CY2014Q3	us-gaap	Assets Assets	292511000
CY2014Q3	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	8779000
CY2014Q3	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	6624000
CY2014Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	8833000
CY2014Q3	us-gaap	Assets Current AssetsCurrent	130266000
CY2014Q3	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	6224000
CY2014Q3	apei	Deferred Revenue And Student Deposits DeferredRevenueAndStudentDeposits	27263000
CY2012Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	114901000
CY2013Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	17578000	shares
CY2013Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	17578000	shares
CY2013Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000	shares
CY2013Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	28.82
CY2013Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2013Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2013Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000	shares
CY2013Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2013Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2013Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	501202	shares
CY2013Q4	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2013Q4	us-gaap	Liabilities Current LiabilitiesCurrent	54258000
CY2013Q4	us-gaap	Common Stock Value CommonStockValue	176000
CY2013Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2013Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	11563000
CY2013Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	41980000
CY2013Q4	us-gaap	Deferred Tax Liabilities Noncurrent DeferredTaxLiabilitiesNoncurrent	10328000
CY2013Q4	us-gaap	Additional Paid In Capital Common Stock AdditionalPaidInCapitalCommonStock	164913000
CY2013Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	17866000
CY2013Q4	us-gaap	Stockholders Equity StockholdersEquity	207069000
CY2013Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	271655000
CY2013Q4	us-gaap	Liabilities Liabilities	64586000
CY2013Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	13175000
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	94820000
CY2013Q4	us-gaap	Goodwill Goodwill	38148000
CY2013Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	90733000
CY2013Q4	us-gaap	Equity Method Investments EquityMethodInvestments	10597000
CY2013Q4	us-gaap	Notes And Loans Receivable Net Noncurrent NotesAndLoansReceivableNetNoncurrent	6000000
CY2013Q4	us-gaap	Assets Assets	271655000
CY2013Q4	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	3432000
CY2013Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	9520000
CY2013Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	3215000
CY2013Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	9592000
CY2013Q4	us-gaap	Assets Current AssetsCurrent	116585000
CY2013Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	5598000
CY2013Q4	apei	Deferred Revenue And Student Deposits DeferredRevenueAndStudentDeposits	24829000
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.84
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	54199000
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	17942798	shares
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.87
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	17689055	shares
	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	1190000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	6000
	us-gaap	Operating Income Loss OperatingIncomeLoss	52920000
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	230000
	us-gaap	Income Taxes Paid IncomeTaxesPaid	14985000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	53150000
	us-gaap	Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions	339000
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	195000
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	8233000
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	4000000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	15093000
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-244000
	us-gaap	Net Income Loss NetIncomeLoss	33037000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-3424000
	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	246542000
	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	-3062000
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-107000
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	1475000
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	48573000
	us-gaap	Excess Tax Benefit From Share Based Compensation Financing Activities ExcessTaxBenefitFromShareBasedCompensationFinancingActivities	483000
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	28879000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	20006000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	9895000
	us-gaap	Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions	1658000
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-6032000
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	2151000
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-19288000
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1718000
	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	1814000
	us-gaap	Costs And Expenses CostsAndExpenses	193622000
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	51403000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	-5072000
	us-gaap	Increase Decrease In Deferred Revenue And Customer Advances And Deposits IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits	2985000
	us-gaap	Share Based Compensation ShareBasedCompensation	3004000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	2022000
	apei	Instructional Costs And Expenses InstructionalCostsAndExpenses	83751000
	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	1.65
	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	2	Segment
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	12.49
	dei	Document Type DocumentType	10-Q
	dei	Entity Registrant Name EntityRegistrantName	AMERICAN PUBLIC EDUCATION INC
	dei	Trading Symbol TradingSymbol	APEI
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	us-gaap	Nature Of Operations NatureOfOperations	<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"> 1. Nature of the Business</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">American Public Education, Inc., or APEI, which together with its subsidiaries is referred to as the “Company”, is a provider of online and campus-based postsecondary education to approximately 112,600 students through the operations of two subsidiaries:</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"> <td style="TEXT-ALIGN: center; WIDTH: 36pt"> <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">•</font></div> </td> <td style="TEXT-ALIGN: left"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">American Public University System, Inc., or APUS, provides online postsecondary education directed primarily at the needs of the military and public safety communities through American Military University, or AMU, and American Public University, or APU.  APUS is regionally accredited by the Higher Learning Commission.</font></div> </td> </tr> </table> </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"> <td style="TEXT-ALIGN: center; WIDTH: 36pt"> <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">•</font></div> </td> <td style="TEXT-ALIGN: left"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">National Education Seminars, Inc., which is referred to in these financial statements as Hondros College of Nursing, or HCON,  provides on-campus nursing education to students at four campuses in Ohio as well as online to serve the needs of the nursing and healthcare community.  HCON is nationally accredited by the Accrediting Council of Independent Colleges and Schools.  HCON was acquired by APEI on November 1, 2013.</font></div> </td> </tr> </table> </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company’s institutions are licensed or otherwise authorized, or are in the process of obtaining such licenses or authorizations, to offer postsecondary education programs by state authorities to the extent the Company believes such licenses or authorizations are required, and are certified by the United States Department of Education, or ED, to participate in student financial aid programs authorized under Title IV of the Higher Education Act of 1965, as amended, or Title IV programs.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Our operations are organized into two reportable segments:</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"> <td style="TEXT-ALIGN: center; WIDTH: 36pt"> <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-STYLE: italic; DISPLAY: inline"> •</font></div> </td> <td style="TEXT-ALIGN: left"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-STYLE: italic; DISPLAY: inline"> American Public Education Segment, or APEI Segment.</font> <font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> </font>This segment reflects the historical operations of APEI prior to the acquisition of HCON and reflects operational activities at APUS, other corporate activities, and minority investments.</font></div> </td> </tr> </table> </div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%"> <tr valign="top"> <td style="TEXT-ALIGN: center; WIDTH: 36pt"> <div style="TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-STYLE: italic; DISPLAY: inline"> •</font></div> </td> <td style="TEXT-ALIGN: left"> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-STYLE: italic; DISPLAY: inline"> Hondros College of Nursing Segment, or HCON Segment.</font>   This segment reflects the operational activities of HCON. The Company acquired HCON on November 1, 2013, and therefore the consolidated results for periods prior to November 1, 2013 do not include any results from HCON.</font></div> </td> </tr> </table> </div> </div>
	us-gaap	Net Cash Provided By Used In Operating Activities Continuing Operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations	47170000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	11528	shares
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; DISPLAY: inline"> 2. Basis of Presentation</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP.  All intercompany transactions have been eliminated in consolidation.  The financial statements do not include all of the information and footnotes required by GAAP for complete financial statement presentations.  In the opinion of management, these statements include all adjustments (consisting of normal recurring adjustments) considered necessary to present a fair statement of the Company's consolidated results of operations, financial position and cash flows.  Operating results for any interim period are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.  This Quarterly Report on Form 10-Q should be read in conjunction with the Company’s consolidated financial statements and footnotes in its audited financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2013.</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Use of Estimates</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes.  Actual results could differ from those estimates.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"> </div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Recent Accounting Pronouncements</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="COLOR: #2f2f2f; DISPLAY: inline"> In May 2014, the FASB</font> <font style="COLOR: #252525; DISPLAY: inline">issued ASU</font> <font style="COLOR: #2f2f2f; DISPLAY: inline">No. 2014-09, “</font><font style="COLOR: #2f2f2f; FONT-STYLE: italic; DISPLAY: inline">Revenue from Contracts with Customers (Topic 606)</font><font style="COLOR: #2f2f2f; DISPLAY: inline">”</font><font style="COLOR: #2f2f2f; FONT-STYLE: italic; DISPLAY: inline"> </font><font style="COLOR: #2f2f2f; DISPLAY: inline">(“ASU 2014-09”).  The standard is a comprehensive new revenue recognition model that requires revenue to be recognized in a manner to depict the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services.  ASU 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is not permitted.  Accordingly, the standard will only be effective for the Company for periods beginning on or after January 1, 2017.  We will evaluate the impact that the standard will have on our financial condition, results of operations, and disclosures.</font></font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"> </div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">In August 2014, the FASB issued ASU No. 2014-15, “<font style="FONT-STYLE: italic; DISPLAY: inline">Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</font>” (“ASU 2014-15”).  The standard requires management to evaluate, at each interim and annual reporting period, whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date the financial statements are issued, and provide related disclosures.  ASU 2014-15 is effective for annual periods ending after December 15, 2016, and for annual and interim periods thereafter, and early adoption is permitted.  We do not expect to early adopt ASU 2014-15, which will be effective for us for our fiscal year ending December 31, 2016, and we do not believe the standard will have a material impact on our financial statements.</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"> </div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="COLOR: #2f2f2f; DISPLAY: inline">  </font>There have been no other applicable pronouncements since the Company's Annual Report on Form 10-K for the year ended December 31, 2013.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Investments</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On February 20, 2013, the Company made a $4.0 million investment in preferred stock of Fidelis Education, Inc., or Fidelis Education, representing approximately 21.6% of its fully diluted equity.  Fidelis Education is developing a learning relationship management system that will assist working adult students with education advising and career mentoring services as they pursue college degrees.  In connection with the investment, the Company is entitled to certain rights, including right to representation on the Board of Directors. The Company accounts for its investment in Fidelis Education under the equity method of accounting.  Therefore, <font style="FONT-SIZE: 10pt; DISPLAY: inline">t</font>he Company recorded the investment at cost and records its share of earnings or losses in the investee in the periods for which they are reported with a corresponding adjustment in the carrying amount of the investment.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On April 2, 2014, the Company made a $1.5 million investment in preferred stock of Second Avenue Software, Inc. representing approximately 25.9% of its fully diluted equity.  Second Avenue Software is a game-based education software company that develops software on a proprietary and “work-for-hire” basis.  In connection with the investment, the Company is entitled to certain rights, including right to representation on the Board of Directors.  The Company accounts for its investment in Second Avenue Software under the equity method of accounting.  Therefore, the Company recorded the investment at cost and will recognize its share of earnings or losses in the investee in the periods for which they are reported with a corresponding adjustment in the carrying amount of the investment.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Notes Receivable</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company evaluates notes receivable by analyzing the borrower's creditworthiness, cash flows and financial status, and the condition and estimated value of the collateral.  The Company considers a note receivable to be impaired when, based upon current information and events, the Company believes it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"><font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Commitments and</font> <font style="FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline">Contingencies</font></font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt"> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The Company accrues for costs associated with contingencies including, but not limited to, regulatory compliance and legal matters when such costs are probable and can be reasonably estimated.  Liabilities established to provide for contingencies are adjusted as further information develops, circumstances change, or contingencies are resolved.  The Company bases these accruals on management’s estimate of such costs, which may vary from the ultimate cost and expenses associated with any such contingency.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"> </div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">HCON entered into an operating lease agreement with an initial term of 15 years that commenced on July 1, 2014.  The operating lease requires monthly base rent payments in the amount of $38,710 for years one to five, $39,632 for years six to ten, and $41,475 for years 11 to 15.  The lease also provides for an annual upward rent adjustment for HCON's pro-rata share of any increase in the landlord’s total building operating costs, provided that HCON's pro-rata share of any increase related to the landlord’s controllable operating costs cannot exceed 10% per annum.  HCON has an option to terminate the lease at the end of the one hundred twentieth (120th) month of the lease term subject to payment of a $263,923 termination fee.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="DISPLAY: block; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">From time to time, the Company may be involved in litigation in the normal course of its business.  The Company is not aware of any pending or threatened litigation matters the resolution of which, in the opinion of management, will have a material adverse effect on the Company’s business, operations, financial condition or cash flows.</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> </font></div> <div style="DISPLAY: block; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">On or about November 18, 2013, a putative class action styled <font style="FONT-STYLE: italic; DISPLAY: inline">Tabatha Vickery, Bryan Lynn, on behalf of themselves and a similarly situated class v. Hondros College, Inc. and John G. Hondros</font>, was filed in the Court of Common Pleas, Cuyahoga County, Ohio, as Case No. CV 13 817299.  National Education Seminars, Inc., which we refer to as Hondros College of Nursing, or HCON, was not named in the lawsuit, but a then member of HCON’s board of directors, John Hondros, was named in the lawsuit, and the allegations made in the Complaint related to HCON’s operations and not the operations of the entity named in the lawsuit.  The lawsuit asserted claims for fraud and fraudulent inducement, negligent misrepresentation, breach of implied-in-fact contract, promissory estoppel, unjust enrichment, and violation of the Ohio Consumer Sales Practices Act, for, among other things, the alleged provision of false or misleading information to the named plaintiffs and other putative class members in 2011 and 2012 regarding the status of accreditation by National League for Nursing Accrediting Commission of HCON’s Associate Degree in Nursing, or ADN, program offered at its Independence, Ohio campus.  The plaintiffs alleged that the putative class consisted of more than 60 former students who in the summer or fall quarters of 2011 enrolled in the ADN or the licensed practical nursing, or LPN, program at the Independence campus with the intention of pursuing a degree in nursing, but who withdrew from the ADN or LPN program.  On February 11, 2014, the plaintiffs filed their First Amended Complaint, which removed Hondros College, Inc. as a defendant and added HCON as a defendant. On February 24, 2014,</font> <font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">the defendants filed a motion to dismiss with prejudice the plaintiffs’ First Amended Complaint. On April 1, 2014, the plaintiffs filed their opposition to the motion to dismiss. On April 10, 2014, the defendants filed their reply brief in support of the motion to dismiss. The Company is currently unable to estimate the likelihood or range of reasonably probable loss, if any, for this matter. The Company does not believe, based on currently available information, that the outcome of this proceeding, if adverse to HCON, would have a material adverse effect on the Company’s financial condition.</font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">    </font></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Concentration</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Approximately 36% and 35% of the APEI segment's revenues for the three and nine month periods ended September 30, 2014 were derived from students using financial aid under the Title IV programs, compared to 37% and 36% of the APEI segment's revenues for the three and nine month periods ended September 30, 2013.  Approximately 34% and 35% of the APEI segment's revenues for the three and nine month periods ended September 30, 2014 were derived from students who received tuition assistance from tuition assistance programs sponsored by the United States Department of Defense, or DoD, compared to approximately 36%  and 37% of the APEI segment's revenues for the three and nine month periods ended September 30, 2013.  Approximately 18% of the APEI segment's revenues for the three and nine month periods ended September 30, 2014 were derived from students who were eligible for veterans benefits, compared to approximately 16% of the APEI segment's revenues for the three and nine month periods ended September 30, 2013.  A reduction in any of these programs or a change in the benefits allowed to students thereunder could have a significant impact on the APEI segment's operations.</font></div> </div>
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross		shares
	us-gaap	Use Of Estimates UseOfEstimates	<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Use of Estimates</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes.  Actual results could differ from those estimates.</font></div> </div>
	dei	Document Period End Date DocumentPeriodEndDate	2014-09-30
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P2Y4M10D
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	37.26
	dei	Amendment Flag AmendmentFlag	false
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2014
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	17573617	shares
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	1.67
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P2Y4M10D
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
	dei	Entity Central Index Key EntityCentralIndexKey	0001201792
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline"> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 9pt" align="justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; FONT-WEIGHT: bold; FONT-STYLE: italic; DISPLAY: inline"> Concentration</font></div> <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br /></div> <div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 36pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; DISPLAY: inline">Approximately 36% and 35% of the APEI segment's revenues for the three and nine month periods ended September 30, 2014 were derived from students using financial aid under the Title IV programs, compared to 37% and 36% of the APEI segment's revenues for the three and nine month periods ended September 30, 2013.  Approximately 34% and 35% of the APEI segment's revenues for the three and nine month periods ended September 30, 2014 were derived from students who received tuition assistance from tuition assistance programs sponsored by the United States Department of Defense, or DoD, compared to approximately 36%  and 37% of the APEI segment's revenues for the three and nine month periods ended September 30, 2013.  Approximately 18% of the APEI segment's revenues for the three and nine month periods ended September 30, 2014 were derived from students who were eligible for veterans benefits, compared to approximately 16% of the APEI segment's revenues for the three and nine month periods ended September 30, 2013.  A reduction in any of these programs or a change in the benefits allowed to students thereunder could have a significant impact on the APEI segment's operations.</font></div> </div>
	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	2	Segment
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	36443	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	17394185	shares
	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	1461000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	956000
	us-gaap	Operating Income Loss OperatingIncomeLoss	47207000
	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	277000
	us-gaap	Income Taxes Paid IncomeTaxesPaid	15096000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	47484000
	us-gaap	Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions	160000
	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	1045000
	us-gaap	Payments For Repurchase Of Common Stock PaymentsForRepurchaseOfCommonStock	15756000
	us-gaap	Payments To Acquire Equity Method Investments PaymentsToAcquireEquityMethodInvestments	1640000
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	15258000
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-137000
	us-gaap	Net Income Loss NetIncomeLoss	29080000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-2896000
	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	258723000
	us-gaap	Payments To Acquire Notes Receivable PaymentsToAcquireNotesReceivable	380000
	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	-3215000
	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-27000
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	-1097000
	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	51997000
	us-gaap	Excess Tax Benefit From Share Based Compensation Financing Activities ExcessTaxBenefitFromShareBasedCompensationFinancingActivities	273000
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	13819000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	18377000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	11901000
	us-gaap	Employee Service Share Based Compensation Cash Received From Exercise Of Stock Options EmployeeServiceShareBasedCompensationCashReceivedFromExerciseOfStockOptions	455000
	us-gaap	Net Cash Provided By Used In Financing Activities Continuing Operations NetCashProvidedByUsedInFinancingActivitiesContinuingOperations	-15028000
	us-gaap	Increase Decrease In Accrued Liabilities IncreaseDecreaseInAccruedLiabilities	-4456000
	us-gaap	Net Cash Provided By Used In Investing Activities Continuing Operations NetCashProvidedByUsedInInvestingActivitiesContinuingOperations	-18323000
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	455000
	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	2230000
	us-gaap	Costs And Expenses CostsAndExpenses	211516000
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	55447000
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	325000
	us-gaap	Increase Decrease In Deferred Revenue And Customer Advances And Deposits IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits	2434000
	us-gaap	Share Based Compensation ShareBasedCompensation	3691000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	904000
	apei	Number Of Students NumberOfStudents	112600	Person
	apei	Number Of Subsidiaries NumberOfSubsidiaries	2	Subsidiary
	apei	Instructional Costs And Expenses InstructionalCostsAndExpenses	92171000
CY2014Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.51
CY2014Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	17355405	shares
CY2014Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.51
CY2014Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	17255271	shares
CY2014Q3	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	502000
CY2014Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	14647000
CY2014Q3	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	98000
CY2014Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	14745000
CY2014Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	6043000
CY2014Q3	us-gaap	Net Income Loss NetIncomeLoss	8842000
CY2014Q3	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	84707000
CY2014Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-26000
CY2014Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	17948000
CY2014Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	5877000
CY2014Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	4054000
CY2014Q3	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	765000
CY2014Q3	us-gaap	Costs And Expenses CostsAndExpenses	70060000
CY2014Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	17432000
CY2014Q3	us-gaap	Share Based Compensation ShareBasedCompensation	1267000
CY2014Q3	apei	Instructional Costs And Expenses InstructionalCostsAndExpenses	30626000
CY2013Q3	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.61
CY2013Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	17876747	shares
CY2013Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.62
CY2013Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	17658317	shares
CY2013Q3	us-gaap	Employee Service Share Based Compensation Tax Benefit From Compensation Expense EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense	404000
CY2013Q3	us-gaap	Operating Income Loss OperatingIncomeLoss	17507000
CY2013Q3	us-gaap	Interest Income Expense Nonoperating Net InterestIncomeExpenseNonoperatingNet	77000
CY2013Q3	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	17584000
CY2013Q3	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	4172000
CY2013Q3	us-gaap	Net Income Loss NetIncomeLoss	10911000
CY2013Q3	us-gaap	Sales Revenue Services Net SalesRevenueServicesNet	81777000
CY2013Q3	us-gaap	Income Loss From Equity Method Investments IncomeLossFromEquityMethodInvestments	-61000
CY2013Q3	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	15989000
CY2013Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	6612000
CY2013Q3	us-gaap	Depreciation And Amortization DepreciationAndAmortization	3376000
CY2013Q3	us-gaap	Allocated Share Based Compensation Expense Net Of Tax AllocatedShareBasedCompensationExpenseNetOfTax	618000
CY2013Q3	us-gaap	Costs And Expenses CostsAndExpenses	64270000
CY2013Q3	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	16766000
CY2013Q3	us-gaap	Share Based Compensation ShareBasedCompensation	1022000
CY2013Q3	apei	Instructional Costs And Expenses InstructionalCostsAndExpenses	28139000

Files In Submission

Name	View Source	Status
0001157523-14-004455-index-headers.html	Edgar Link	pending
0001157523-14-004455-index.html	Edgar Link	pending
0001157523-14-004455.txt	Edgar Link	pending
0001157523-14-004455-xbrl.zip	Edgar Link	pending
a50974763.htm	Edgar Link	pending
a50974763ex31_01.htm	Edgar Link	pending
a50974763ex31_02.htm	Edgar Link	pending
a50974763ex32_01.htm	Edgar Link	pending
apei-20140930.xml	Edgar Link	completed
apei-20140930.xsd	Edgar Link	pending
apei-20140930_cal.xml	Edgar Link	unprocessable
apei-20140930_def.xml	Edgar Link	unprocessable
apei-20140930_lab.xml	Edgar Link	unprocessable
apei-20140930_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$APEI
AMERICAN PUBLIC EDUCATION INC Stock $apei

2014 Q4 Form 10-Q Financial Statement

#000115752314004455 Filed on November 06, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$APEI AMERICAN PUBLIC EDUCATION INC Stock $apei

2014 Q4 Form 10-Q Financial Statement

#000115752314004455 Filed on November 06, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$APEI
AMERICAN PUBLIC EDUCATION INC Stock $apei