2014 Q4 Form 10-Q Financial Statement

#000114420415006336 Filed on February 05, 2015

View on sec.gov

Income Statement

Concept 2014 Q4 2013 Q4
Revenue $133.7M $123.0M
YoY Change 8.7% 12.57%
Cost Of Revenue $250.8M $243.0M
YoY Change 3.21% 1.15%
Gross Profit -$117.1M -$120.0M
YoY Change -2.41% -8.39%
Gross Profit Margin -87.59% -97.56%
Selling, General & Admin $174.9M $185.0M
YoY Change -5.48% 0.71%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.30M $20.74M
YoY Change -6.94% -1.32%
% of Gross Profit
Operating Expenses $174.9M $185.0M
YoY Change -5.48% 0.71%
Operating Profit $48.97M $58.56M
YoY Change -16.38% -12.85%
Interest Expense -$100.0K -$700.0K
YoY Change -85.71% 40.0%
% of Operating Profit -0.2% -1.2%
Other Income/Expense, Net -$52.00K -$742.0K
YoY Change -92.99% 40.26%
Pretax Income $48.92M $57.82M
YoY Change -15.4% -13.27%
Income Tax $6.116M $8.492M
% Of Pretax Income 12.5% 14.69%
Net Earnings $42.41M $48.16M
YoY Change -11.92% -4.24%
Net Earnings / Revenue 31.72% 39.15%
Basic Earnings Per Share $0.66 $0.75
Diluted Earnings Per Share $0.65 $0.74
COMMON SHARES
Basic Shares Outstanding 64.64K shares 64.20K shares
Diluted Shares Outstanding 65.47K shares 64.72K shares

Balance Sheet

Concept 2014 Q4 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $383.5M $265.3M
YoY Change 44.55% 21.14%
Cash & Equivalents $380.0M $262.0M
Short-Term Investments $3.500M $3.300M
Other Short-Term Assets $99.90M $85.60M
YoY Change 16.71% 25.33%
Inventory
Prepaid Expenses
Receivables $89.32M $117.8M
Other Receivables $0.00 $7.000M
Total Short-Term Assets $572.8M $475.7M
YoY Change 20.4% 5.54%
LONG-TERM ASSETS
Property, Plant & Equipment $543.0M $558.0M
YoY Change -2.7% -0.23%
Goodwill $519.7M $514.8M
YoY Change 0.97% -9.09%
Intangibles $289.2M $293.7M
YoY Change -1.55% -0.16%
Long-Term Investments
YoY Change
Other Assets $29.74M $33.40M
YoY Change -10.95% 10.91%
Total Long-Term Assets $852.1M $855.3M
YoY Change -0.38% -5.45%
TOTAL ASSETS
Total Short-Term Assets $572.8M $475.7M
Total Long-Term Assets $852.1M $855.3M
Total Assets $1.968B $1.889B
YoY Change 4.17% -1.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $55.74M $62.72M
YoY Change -11.14% 3.87%
Accrued Expenses $69.43M $69.26M
YoY Change 0.24% -3.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $265.0M $307.2M
YoY Change -13.73% -9.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $90.50M $91.10M
YoY Change -0.66% -15.1%
Total Long-Term Liabilities $138.9M $151.0M
YoY Change -8.03% -12.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $265.0M $307.2M
Total Long-Term Liabilities $138.9M $151.0M
Total Liabilities $403.9M $458.1M
YoY Change -11.85% -10.08%
SHAREHOLDERS EQUITY
Retained Earnings $1.732B $1.600B
YoY Change 8.25% 2.55%
Common Stock $339.5M $305.6M
YoY Change 11.1% 8.49%
Preferred Stock
YoY Change
Treasury Stock (at cost) $471.5M $455.0M
YoY Change 3.63% 3.71%
Treasury Stock Shares 12.02M shares 11.66M shares
Shareholders Equity $1.556B $1.425B
YoY Change
Total Liabilities & Shareholders Equity $1.968B $1.889B
YoY Change 4.17% -1.34%

Cashflow Statement

Concept 2014 Q4 2013 Q4
OPERATING ACTIVITIES
Net Income $42.41M $48.16M
YoY Change -11.92% -4.24%
Depreciation, Depletion And Amortization $19.30M $20.74M
YoY Change -6.94% -1.32%
Cash From Operating Activities -$48.80M -$28.10M
YoY Change 73.67% -274.53%
INVESTING ACTIVITIES
Capital Expenditures -$21.90M -$11.20M
YoY Change 95.54% -48.15%
Acquisitions
YoY Change
Other Investing Activities -$3.700M $1.900M
YoY Change -294.74% -186.36%
Cash From Investing Activities -$25.60M -$9.300M
YoY Change 175.27% -61.09%
FINANCING ACTIVITIES
Cash Dividend Paid $11.60M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.20M -8.200M
YoY Change 121.95% -64.81%
NET CHANGE
Cash From Operating Activities -48.80M -28.10M
Cash From Investing Activities -25.60M -9.300M
Cash From Financing Activities -18.20M -8.200M
Net Change In Cash -92.60M -45.60M
YoY Change 103.07% 46.62%
FREE CASH FLOW
Cash From Operating Activities -$48.80M -$28.10M
Capital Expenditures -$21.90M -$11.20M
Free Cash Flow -$26.90M -$16.90M
YoY Change 59.17% -144.83%

Facts In Submission

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us-gaap Use Of Estimates
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 11pt; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt 6.5pt" align="justify"><strong><i><u><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Use of Estimates</font></u></i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.15in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; TEXT-INDENT: 0.15in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses reported during the period. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Prior Period Reclassification Adjustment Description
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us-gaap Income Loss From Discontinued Operations Net Of Tax
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0 USD
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
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CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax
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us-gaap Profit Loss
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41231000 USD
us-gaap Profit Loss
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63239000 USD
CY2013Q4 us-gaap Profit Loss
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48408000 USD
CY2014Q4 us-gaap Profit Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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208000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
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386000 USD
CY2013Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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253000 USD
CY2014Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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389000 USD
us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2013Q4 us-gaap Net Income Loss
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48155000 USD
CY2014Q4 us-gaap Net Income Loss
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57271000 USD
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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62853000 USD
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49075000 USD
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42413000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
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CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
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0 USD
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us-gaap Income Loss From Continuing Operations Per Basic Share
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CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
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0
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CY2014Q4 us-gaap Earnings Per Share Basic
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us-gaap Income Loss From Continuing Operations Per Diluted Share
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0.96
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
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CY2014Q4 us-gaap Income Loss From Continuing Operations Per Diluted Share
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us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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CY2014Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
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0
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0.96
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0.74
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.65
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CY2014Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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63876 shares
us-gaap Weighted Average Number Of Shares Restricted Stock
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813 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Restricted Stock
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914 shares
CY2014Q4 us-gaap Weighted Average Number Of Shares Restricted Stock
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64066 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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64625 shares
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2014Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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550 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
863 shares
CY2013Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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523 shares
CY2014Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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829 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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64616 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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65488 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Capitalized Computer Software Additions
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300000 USD
CY2014Q4 us-gaap Capitalized Computer Software Additions
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300000 USD
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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810000 shares
CY2013Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2298000 shares
CY2014Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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624000 shares
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44300000 USD
us-gaap Advertising Expense
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us-gaap Advertising Expense
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CY2013Q4 us-gaap Advertising Expense
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CY2014Q4 us-gaap Advertising Expense
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us-gaap Impairment Of Leasehold
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us-gaap Impairment Of Leasehold
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3000000 USD
CY2013Q4 us-gaap Impairment Of Leasehold
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800000 USD
CY2014Q4 us-gaap Impairment Of Leasehold
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3000000 USD
us-gaap Customer Refundable Fees Refund Payments
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17400000 USD
us-gaap Customer Refundable Fees Refund Payments
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18500000 USD
CY2013Q4 us-gaap Customer Refundable Fees Refund Payments
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9000000 USD
CY2014Q4 us-gaap Customer Refundable Fees Refund Payments
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9500000 USD
CY2013Q4 dv Prepaid Expenses And Other
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42600000 USD
CY2013Q4 us-gaap Income Taxes Receivable
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us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
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CY2013Q4 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
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CY2014Q4 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
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13105000 USD
dv Disposal Group Including Discontinued Operation Asset Impairment Charge
DisposalGroupIncludingDiscontinuedOperationAssetImpairmentCharge
0 USD
CY2013Q4 dv Disposal Group Including Discontinued Operation Asset Impairment Charge
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CY2014Q4 dv Disposal Group Including Discontinued Operation Asset Impairment Charge
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0 USD
dv Disposal Group Including Discontinued Operation Restructuring Expense
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675000 USD
dv Disposal Group Including Discontinued Operation Restructuring Expense
DisposalGroupIncludingDiscontinuedOperationRestructuringExpense
0 USD
CY2013Q4 dv Disposal Group Including Discontinued Operation Restructuring Expense
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675000 USD
CY2014Q4 dv Disposal Group Including Discontinued Operation Restructuring Expense
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0 USD
dv Assets Sale Price On Divestiture Of Businesses
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2000000 USD
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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25600000 USD
us-gaap Amortization Of Intangible Assets
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3590000 USD
us-gaap Amortization Of Intangible Assets
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1293000 USD
CY2014Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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30751000 USD
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P6Y6M29D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y8M23D
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0.4376 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.4204 pure
dv Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Pre Vesting Forfeiture Rate
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0.0300 pure
us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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9530000 USD
CY2013Q4 us-gaap Allocated Share Based Compensation Expense
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4044000 USD
CY2014Q4 us-gaap Allocated Share Based Compensation Expense
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4009000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0216 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0203 pure
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0.0090 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.0103 pure
CY2014 dv Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Pre Vesting Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsPreVestingForfeitureRate
0.0300 pure
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3338000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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3451000 USD
CY2013Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1392000 USD
CY2014Q4 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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1409000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
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6522000 USD
us-gaap Allocated Share Based Compensation Expense Net Of Tax
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6079000 USD
CY2013Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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2652000 USD
CY2014Q4 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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2600000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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2243360 shares
CY2014Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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33.09
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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43.53
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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28.41
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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25.06
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42.47
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36.46
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P5Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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P4Y8M16D
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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27386000 USD
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182000 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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62000 USD
CY2014Q4 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Comprehensive Income Net Of Tax
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35209000 USD
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ComprehensiveIncomeNetOfTax
40500000 USD
CY2014Q4 us-gaap Comprehensive Income Net Of Tax
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30791000 USD
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2013Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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CY2014Q4 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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32759000 USD
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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34567000 USD
CY2013Q4 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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40440000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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P5Y
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1800000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
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323000 USD
us-gaap Provision For Loan Lease And Other Losses
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4596000 USD
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18735000 USD
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43452000 USD
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4896000 USD
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1737000 USD
CY2013Q4 dv Financing Receivable Recorded Investment Ninety To One Hundred Nineteen Days Past Due
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1520000 USD
CY2013Q4 dv Financing Receivable Recorded Investment Greater Than One Hundred Twenty Days Past Due
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16079000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Past Due
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3700000 USD
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45400000 USD
CY2013Q3 us-gaap Asset Impairment Charges
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13500000 USD
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2000000 USD
CY2013Q4 us-gaap Proceeds From Sale Of Property Plant And Equipment
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2000000 USD
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66048000 USD
CY2014Q2 us-gaap Financing Receivable Allowance For Credit Losses
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us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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5081000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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4863000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
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446000 USD
us-gaap Provision For Loan Lease And Other Losses
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20604000 USD
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45444000 USD
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FinancingReceivableRecordedInvestment30To59DaysPastDue
5272000 USD
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FinancingReceivableRecordedInvestment60To89DaysPastDue
1781000 USD
CY2014Q4 dv Financing Receivable Recorded Investment Ninety To One Hundred Nineteen Days Past Due
FinancingReceivableRecordedInvestmentNinetyToOneHundredNineteenDaysPastDue
1609000 USD
CY2014Q4 dv Financing Receivable Recorded Investment Greater Than One Hundred Twenty Days Past Due
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18428000 USD
CY2014Q4 us-gaap Financing Receivable Recorded Investment Past Due
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27090000 USD
CY2013Q4 us-gaap Financing Receivable Recorded Investment Current
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37955000 USD
CY2014Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
38958000 USD
dv Number Of Days Past Due To Consider Loans As Nonperforming
NumberOfDaysPastDueToConsiderLoansAsNonperforming
P120D
CY2013Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
10300000 USD
CY2014Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
17100000 USD
CY2012Q3 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2014-12-31
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
249664 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
11500000 USD
CY2014Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
68200000 USD
CY2013 dv Number Of Students In Degree Programs
NumberOfStudentsInDegreePrograms
2900 pure
CY2014Q3 dv Number Of Students In Degree Programs
NumberOfStudentsInDegreePrograms
3500 pure
CY2013Q2 dv Number Of Campuses
NumberOfCampuses
13 pure
CY2014Q3 dv Number Of Campuses
NumberOfCampuses
13 pure
CY2013Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
17700000 USD
CY2013Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1612000 USD
CY2014Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
528000 USD
CY2014Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
5200000 USD
CY2014Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
281346000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2466000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1753000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1165000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
103661000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
98702000 USD
CY2013Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
89373000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
90888000 USD
CY2013Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
284131000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
754000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
754000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2151000 USD
CY2012Q2 us-gaap Goodwill
Goodwill
549961000 USD
CY2013 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
16120000 USD
CY2014 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
9675000 USD
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
10115000 USD
CY2013 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
53094000 USD
CY2013 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
4050000 USD
CY2014 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
-1267000 USD
us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
10246000 USD
CY2013Q2 us-gaap Goodwill
Goodwill
508937000 USD
us-gaap Adjustment For Amortization
AdjustmentForAmortization
3300000 USD
us-gaap Adjustment For Amortization
AdjustmentForAmortization
1300000 USD
CY2013Q4 us-gaap Adjustment For Amortization
AdjustmentForAmortization
1700000 USD
CY2014Q4 us-gaap Adjustment For Amortization
AdjustmentForAmortization
500000 USD
CY2014 dv Fair Valuein Excess Of Carrying Value Percentage
FairValueinExcessOfCarryingValuePercentage
0.05 pure
us-gaap Indefinite Lived Intangible Assets Period Increase Decrease
IndefiniteLivedIntangibleAssetsPeriodIncreaseDecrease
3900000 USD
CY2014Q4 dv Percentage Of Intangible Assets Including Goodwill
PercentageOfIntangibleAssetsIncludingGoodwill
0.41 pure
dv Intangible Assets Estimated Fair Value Description
IntangibleAssetsEstimatedFairValueDescription
The impairment review completed in the fourth quarter of fiscal year 2014 indicated the fair value exceeded the carrying value of the DeVry University reporting unit by 24%. Due to the effects of continually declining enrollments, this excess margin has been rapidly declining in recent periods. A 10% decrease in the fiscal year 2015 projected operating income used in this analysis would result in no less than a 21% premium of fair value over carrying value.
CY2013Q2 us-gaap Restructuring Reserve
RestructuringReserve
13200000 USD
CY2014 us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
30000000 USD
us-gaap Restructuring Reserve Period Increase Decrease
RestructuringReservePeriodIncreaseDecrease
20200000 USD
CY2014 dv Restructuring Reserve Payments And Adjustment
RestructuringReservePaymentsAndAdjustment
21900000 USD
dv Restructuring Reserve Payments And Adjustment
RestructuringReservePaymentsAndAdjustment
12600000 USD
CY2014Q2 us-gaap Restructuring Reserve
RestructuringReserve
21300000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
28900000 USD
CY2014 dv Reduction In Workforce
ReductionInWorkforce
270 pure
dv Reduction In Workforce
ReductionInWorkforce
114 pure
CY2014 us-gaap Restructuring Charges
RestructuringCharges
18700000 USD
CY2014 us-gaap Payments For Restructuring
PaymentsForRestructuring
14000000 USD
CY2013Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
10400000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
12200000 USD
CY2013Q3 us-gaap Other Restructuring Costs
OtherRestructuringCosts
1200000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
11300000 USD
CY2014Q4 us-gaap Other Restructuring Costs
OtherRestructuringCosts
10200000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9860000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9530000 USD
us-gaap Depreciation
Depreciation
40719000 USD
us-gaap Depreciation
Depreciation
41362000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
37274000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
45627000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1699000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2996000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-1333000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-2430000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1918000 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
4854000 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
2187000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
17170000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6367000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1338000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
540000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
7592000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3481000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-23279000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-29795000 USD
dv Increase Decrease In Deferred And Advanced Tuition Revenue
IncreaseDecreaseInDeferredAndAdvancedTuitionRevenue
-589000 USD
dv Increase Decrease In Deferred And Advanced Tuition Revenue
IncreaseDecreaseInDeferredAndAdvancedTuitionRevenue
-32768000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
113318000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
92309000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-197000 USD
us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
0 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
113121000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
92309000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
33426000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
43061000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
12343000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
9649000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
106000 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
140000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
8662000 USD
us-gaap Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
6100000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-37213000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46750000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3576000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5380000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
708000 USD
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
674000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
11541000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10941000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
11639000 USD
us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
2138000 USD
us-gaap Repayments Of Longterm Loans From Vendors
RepaymentsOfLongtermLoansFromVendors
4097000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-8795000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21223000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2223000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2559000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
64890000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
21777000 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
197144000 USD
CY2014Q2 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
358188000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
262034000 USD
CY2014Q4 us-gaap Cash And Cash Equivalents At Carrying Value Including Discontinued Operations
CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
379965000 USD
us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
4913000 USD
us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
1360000 USD
CY2013Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
579000000 USD
CY2014Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
711000000 USD
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.151 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.140 pure
CY2013Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.147 pure
CY2014Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.125 pure
CY2013Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
9100000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
8200000 USD
CY2014Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1400000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1400000 USD
CY2014Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
400000000 USD
us-gaap Line Of Credit Facility Unused Capacity Commitment Fee Percentage
LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
0.002 pure
us-gaap Line Of Credit Facility Commitment Fee Percentage
LineOfCreditFacilityCommitmentFeePercentage
0.00125 pure
dv Net Interest And Other Expense Income
NetInterestAndOtherExpenseIncome
-1159000 USD
dv Net Interest And Other Expense Income
NetInterestAndOtherExpenseIncome
-48000 USD
CY2013Q4 dv Net Interest And Other Expense Income
NetInterestAndOtherExpenseIncome
-742000 USD
CY2014Q4 dv Net Interest And Other Expense Income
NetInterestAndOtherExpenseIncome
-52000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
67674000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
73565000 USD
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
57820000 USD
CY2014Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
48918000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
61423000 USD
us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
58899000 USD
CY2013Q4 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
11245000 USD
CY2014Q4 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
37747000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
33426000 USD
us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
43061000 USD
CY2013Q4 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
11245000 USD
CY2014Q4 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
21909000 USD
dv Increase In Capital Assets From Acquisition
IncreaseInCapitalAssetsFromAcquisition
2037000 USD
dv Increase In Capital Assets From Acquisition
IncreaseInCapitalAssetsFromAcquisition
1505000 USD
CY2013Q4 dv Increase In Capital Assets From Acquisition
IncreaseInCapitalAssetsFromAcquisition
0 USD
CY2014Q4 dv Increase In Capital Assets From Acquisition
IncreaseInCapitalAssetsFromAcquisition
1505000 USD
dv Increase In Intangible Assets And Goodwill
IncreaseInIntangibleAssetsAndGoodwill
25960000 USD
dv Increase In Intangible Assets And Goodwill
IncreaseInIntangibleAssetsAndGoodwill
14333000 USD
CY2013Q4 dv Increase In Intangible Assets And Goodwill
IncreaseInIntangibleAssetsAndGoodwill
0 USD
CY2014Q4 dv Increase In Intangible Assets And Goodwill
IncreaseInIntangibleAssetsAndGoodwill
14333000 USD
us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
61423000 USD
us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
58899000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
11245000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross Period Increase Decrease
PropertyPlantAndEquipmentGrossPeriodIncreaseDecrease
37747000 USD
CY2013Q4 us-gaap Depreciation
Depreciation
20739000 USD
CY2014Q4 us-gaap Depreciation
Depreciation
19300000 USD
CY2013Q4 us-gaap Noncurrent Assets
NoncurrentAssets
212968000 USD
CY2014Q4 us-gaap Noncurrent Assets
NoncurrentAssets
220955000 USD
us-gaap Revenues
Revenues
223793000 USD
us-gaap Revenues
Revenues
246655000 USD
CY2013Q4 us-gaap Revenues
Revenues
122998000 USD
CY2014Q4 us-gaap Revenues
Revenues
133700000 USD
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.05 pure
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.05 pure
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
DEVRY EDUCATION GROUP INC.
dei Entity Central Index Key
EntityCentralIndexKey
0000730464
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Trading Symbol
TradingSymbol
DV
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
63792100 shares
us-gaap Heldtomaturity Securities Transferred To Trading Securities Unrealized Gain Loss Excluding Other Than Temporary Impairments
HeldtomaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments
-244000 USD
us-gaap Heldtomaturity Securities Transferred To Trading Securities Unrealized Gain Loss Excluding Other Than Temporary Impairments
HeldtomaturitySecuritiesTransferredToTradingSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairments
0 USD
us-gaap Income Tax Holiday Description
IncomeTaxHolidayDescription
Both of these agreements have been extended to provide, in the case of RUSM, an indefinite period of exemption and, in the case of RUSVM, exemption until 2037.
us-gaap Indefinitelived Intangible Assets Acquired
IndefinitelivedIntangibleAssetsAcquired
5100000 USD
dv Accretion Of Noncontrolling Interest Put Option
AccretionOfNoncontrollingInterestPutOption
4913000 USD
dv Accretion Of Noncontrolling Interest Put Option
AccretionOfNoncontrollingInterestPutOption
1360000 USD
CY2013Q4 dv Accretion Of Noncontrolling Interest Put Option
AccretionOfNoncontrollingInterestPutOption
-168000 USD
CY2014Q4 dv Accretion Of Noncontrolling Interest Put Option
AccretionOfNoncontrollingInterestPutOption
1133000 USD
CY2014Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
11600000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
2000000 USD

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