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Grand Canyon Education, Inc.

2012 Form 10-K Financial Statement

#000119312513065203 Filed on February 19, 2013

View on sec.gov

Income Statement

Concept 2012 2011 Q4 2011 Q3
Revenue $511.3M $113.0M $108.9M
YoY Change 19.8% 13.01% 10.12%
Cost Of Revenue $220.4M $50.60M $48.90M
YoY Change 13.14% 11.45% 7.0%
Gross Profit $290.9M $62.40M $60.00M
YoY Change 25.44% 14.29% 12.78%
Gross Profit Margin 56.9% 55.22% 55.09%
Selling, General & Admin $176.8M $39.19M $38.39M
YoY Change 18.66% 7.97% 10.64%
% of Gross Profit 60.78% 62.81% 63.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $21.90M $4.900M $4.300M
YoY Change 28.82% 40.0% 30.3%
% of Gross Profit 7.53% 7.85% 7.17%
Operating Expenses $176.8M $39.19M $38.39M
YoY Change 18.66% 7.97% 10.32%
Operating Profit $114.1M $23.31M $20.66M
YoY Change 38.82% 27.39% 12.29%
Interest Expense $699.0K -$400.0K $170.0K
YoY Change -2.92% 100.0% -270.0%
% of Operating Profit 0.61% -1.72% 0.82%
Other Income/Expense, Net
YoY Change
Pretax Income $113.4M $22.91M $20.51M
YoY Change 39.12% 157.39% 12.08%
Income Tax $43.98M $7.584M $7.643M
% Of Pretax Income 38.77% 33.11% 37.26%
Net Earnings $69.45M $15.32M $12.87M
YoY Change 37.39% 143.24% 20.26%
Net Earnings / Revenue 13.58% 13.56% 11.82%
Basic Earnings Per Share $1.57 $0.35 $0.29
Diluted Earnings Per Share $1.53 $0.34 $0.29
COMMON SHARES
Basic Shares Outstanding 44.33M shares 44.32M shares 44.30M shares
Diluted Shares Outstanding 45.25M shares 44.87M shares 44.79M shares

Balance Sheet

Concept 2012 2011 Q4 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $105.1M $21.20M $19.00M
YoY Change 395.75% -36.9% -62.38%
Cash & Equivalents $105.1M $21.19M $19.00M
Short-Term Investments
Other Short-Term Assets $74.10M $11.08M $63.10M
YoY Change 5.11% -84.84% -9.73%
Inventory
Prepaid Expenses
Receivables $8.000M $11.82M $16.30M
Other Receivables $27.00M $11.90M $8.400M
Total Short-Term Assets $214.2M $115.4M $106.8M
YoY Change 85.62% -13.29% -30.24%
LONG-TERM ASSETS
Property, Plant & Equipment $269.2M $189.9M $179.5M
YoY Change 41.76% 53.18% 67.44%
Goodwill $2.941M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.600M $3.032M $13.80M
YoY Change -9.47% -79.79% -25.0%
Total Long-Term Assets $280.7M $202.4M $196.3M
YoY Change 38.69% 42.56% 52.88%
TOTAL ASSETS
Total Short-Term Assets $214.2M $115.4M $106.8M
Total Long-Term Assets $280.7M $202.4M $196.3M
Total Assets $494.9M $317.8M $303.1M
YoY Change 55.73% 15.54% 7.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.20M $18.52M $22.30M
YoY Change -23.24% 17.98% 2.76%
Accrued Expenses $36.30M $8.456M $18.90M
YoY Change 75.36% -71.04% 14.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.700M $2.200M $2.700M
YoY Change 204.55% -40.54% -20.59%
Total Short-Term Liabilities $152.7M $121.5M $128.6M
YoY Change 25.68% -1.05% -0.31%
LONG-TERM LIABILITIES
Long-Term Debt $93.70M $27.70M $27.80M
YoY Change 354.85% 12.15% 9.02%
Other Long-Term Liabilities $7.400M $7.140M
YoY Change 4.23%
Total Long-Term Liabilities $101.1M $7.140M $27.80M
YoY Change 264.98% -71.09% 9.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $152.7M $121.5M $128.6M
Total Long-Term Liabilities $101.1M $7.140M $27.80M
Total Liabilities $260.9M $154.6M $156.4M
YoY Change 68.76% 4.71% 1.3%
SHAREHOLDERS EQUITY
Retained Earnings $101.4M
YoY Change
Common Stock $460.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $23.89M
YoY Change
Treasury Stock Shares 1.657M shares
Shareholders Equity $234.1M $163.3M $146.7M
YoY Change
Total Liabilities & Shareholders Equity $494.9M $317.8M $303.1M
YoY Change 55.73% 15.54% 7.67%

Cashflow Statement

Concept 2012 2011 Q4 2011 Q3
OPERATING ACTIVITIES
Net Income $69.45M $15.32M $12.87M
YoY Change 37.39% 143.24% 20.26%
Depreciation, Depletion And Amortization $21.90M $4.900M $4.300M
YoY Change 28.82% 40.0% 30.3%
Cash From Operating Activities $144.2M $22.70M $27.70M
YoY Change 63.93% -156.61% -45.04%
INVESTING ACTIVITIES
Capital Expenditures -$104.9M -$19.00M -$23.20M
YoY Change 30.31% -17.39% 34.88%
Acquisitions
YoY Change
Other Investing Activities -$26.70M $0.00 $0.00
YoY Change -594.44% -100.0% -100.0%
Cash From Investing Activities -$131.5M -$19.00M -$23.20M
YoY Change 75.07% -180.51% -45.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.24M
YoY Change -34.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 71.27M -1.500M -100.0K
YoY Change -382.04% 400.0% -88.89%
NET CHANGE
Cash From Operating Activities 144.2M 22.70M 27.70M
Cash From Investing Activities -131.5M -19.00M -23.20M
Cash From Financing Activities 71.27M -1.500M -100.0K
Net Change In Cash 83.92M 2.200M 4.400M
YoY Change -774.18% -113.1% -38.03%
FREE CASH FLOW
Cash From Operating Activities $144.2M $22.70M $27.70M
Capital Expenditures -$104.9M -$19.00M -$23.20M
Free Cash Flow $249.1M $41.70M $50.90M
YoY Change 47.86% -343.86% -24.7%

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CY2012Q4 us-gaap Accrued Liabilities Current
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CY2012Q4 us-gaap Preferred Stock Value
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CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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66616000
CY2012Q4 us-gaap Property Plant And Equipment Net
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CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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CY2012Q4 us-gaap Commitments And Contingencies
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CY2012Q4 us-gaap Common Stock Shares Outstanding
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CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due
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CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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6625000
CY2012Q4 us-gaap Assets Current
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CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due
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CY2012Q4 us-gaap Additional Paid In Capital
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CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Legal Settlements
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CY2012Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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CY2012Q4 us-gaap Capital Leases Future Minimum Payments Due Current
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CY2012Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2012Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2012Q4 us-gaap Derivative Lower Variable Interest Rate Range
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CY2012Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
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CY2012Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2012Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Deferred Rent
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2642000
CY2012Q4 us-gaap Stockholders Equity
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CY2012Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2012Q4 us-gaap Capital Lease Obligations Noncurrent
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CY2012Q4 us-gaap Other Liabilities Noncurrent
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CY2012Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2012Q4 us-gaap Accounts Payable Current
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14174000
CY2012Q4 lope Accrued Liability Related To Royalty Arrangement
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246000
CY2012Q4 lope Area Of Companys Campus
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115 acre
CY2012Q4 lope Debt Instrument Basis Spread On Variable Rate Before Amendment
DebtInstrumentBasisSpreadOnVariableRateBeforeAmendment
0.0200 pure
CY2012Q4 lope Debt Instrument Basis Spread On Variable Rate After Amendment
DebtInstrumentBasisSpreadOnVariableRateAfterAmendment
0.0175 pure
CY2012Q4 lope Decreased Interest Rate On Outstanding Balance
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from the BBA Libor Rate plus 200 basis points to the BBA Libor Rate plus 175 basis points
CY2012Q4 lope Deferred Tax Liability Depreciation And Leases
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21774000
CY2012Q4 lope Deferred Tax Liability State Taxes
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CY2012Q4 lope Expiration Date On Repurchase Authorizations
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2013-09-30
CY2012Q4 lope Monthly Payments On Capital Leases
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8000
CY2012Q4 lope Value Of Closing Stock Price
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23.47
CY2008Q2 lope Agreement To Pay Former Owner Royalty Amount
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22500000
CY2012Q4 lope Prepaid Royalties Noncurrent
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5299000
CY2012Q4 lope Reserve For Estimated Loss
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3450000
CY2012Q4 lope Share Based Compensation Arrangement By Share Based Payment Award Options Available For Issuance Number
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2772000 shares
CY2008Q2 lope Royalty Amortization Period
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P20Y
CY2008Q2 lope Settlement Of Future Royalty Payment Obligation
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5920000
CY2010 us-gaap Increase Decrease In Restructuring Reserve
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-768000
CY2010 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2010 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2010 us-gaap Proceeds From Stock Options Exercised
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1747000
CY2010 us-gaap Net Cash Provided By Used In Investing Activities
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CY2010 us-gaap Investment Income Interest
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CY2010 us-gaap Income Taxes Paid
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CY2010 us-gaap Increase Decrease In Customer Deposits
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43724000
CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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CY2010 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2010 us-gaap Increase Decrease In Due To Related Parties Current
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9166000
CY2010 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
102000 shares
CY2010 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
394000
CY2010 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.387 pure
CY2010 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M
CY2010 us-gaap Repayments Of Debt And Capital Lease Obligations
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2933000
CY2010 us-gaap Treasury Stock Value Acquired Cost Method
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CY2010 us-gaap Increase Decrease In Deferred Revenue
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CY2010 us-gaap Increase Decrease In Accounts Receivable
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CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2010 us-gaap Interest Paid
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CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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CY2010 us-gaap Share Based Compensation
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CY2010 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2010 us-gaap Provision For Doubtful Accounts
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CY2010 us-gaap Depreciation And Amortization
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CY2010 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2010 us-gaap Selling And Marketing Expense
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CY2010 us-gaap Current State And Local Tax Expense Benefit
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CY2010 us-gaap Operating Income Loss
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CY2010 us-gaap Other Noncash Income Expense
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CY2010 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2010 us-gaap Earnings Per Share Basic
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CY2010 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2010 us-gaap Deferred Income Tax Expense Benefit
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CY2010 us-gaap Defined Benefit Plan Contributions By Plan Participants
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CY2010 us-gaap Net Income Loss
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2010 us-gaap Costs And Expenses
CostsAndExpenses
327449000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0287 pure
CY2010 us-gaap Increase Decrease In Restricted Cash For Operating Activities
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43706000
CY2010 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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563000
CY2010 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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554000
CY2010 us-gaap Earnings Per Share Diluted
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CY2010 us-gaap Payments For Repurchase Of Common Stock
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CY2010 us-gaap General And Administrative Expense
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CY2010 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2010 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Tax
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12000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4750 pure
CY2010 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
674000 shares
CY2010 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2010 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
34905000
CY2010 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
22522000
CY2010 us-gaap Advertising Expense
AdvertisingExpense
35550000
CY2010 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5536000
CY2010 us-gaap Revenues
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385625000
CY2010 us-gaap Increase Decrease In Accounts Payable Trade
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2510000
CY2010 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22249000
CY2010 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2010 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.017 pure
CY2010 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
5960000
CY2010 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2010 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
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CY2010 us-gaap Interest Costs Incurred
InterestCostsIncurred
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CY2010 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2010 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2010 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
487000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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CY2010 us-gaap Allocated Share Based Compensation Expense
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CY2010 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2010 us-gaap Business Exit Costs
BusinessExitCosts
258000
CY2010 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
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CY2010 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
80000
CY2010 us-gaap Increase Decrease In Accrued Liabilities
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5013000
CY2011 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2010 us-gaap Interest Expense
InterestExpense
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CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2010 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2010 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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3000
CY2010 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2010 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2010 us-gaap Net Cash Provided By Used In Operating Activities
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CY2010 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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CY2010 us-gaap Other Comprehensive Income Loss Reclassification Adjustment For Sale Of Securities Included In Net Income Net Of Tax
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CY2010 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
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CY2010 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
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CY2010 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.056 pure
CY2010 lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
790000
CY2010 lope Arrangement Expense
ArrangementExpense
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CY2010 lope Capitalized Interest Rate On Borrowing To Finance Improvement
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CY2010 lope Contract Termination Fees To Related Party
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9233000
CY2010 lope Costs Incurred Due To Unanticipated Delays In Information Processing
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4013000
CY2010 lope Depreciation And Amortization Including Assets Under Capital Lease
DepreciationAndAmortizationIncludingAssetsUnderCapitalLease
11376000
CY2010 lope Expenses Relating To Agreement
ExpensesRelatingToAgreement
9233000
CY2010 lope Instructional Costs And Services
InstructionalCostsAndServices
178844000
CY2010 lope Marketing Services Provided By Related Party
MarketingServicesProvidedByRelatedParty
249000
CY2010 lope Non Capitalizable System Conversion Costs
NonCapitalizableSystemConversionCosts
4013000
CY2010 lope Purchase Of Equipment Through Notes Payable And Capital Lease Obligations
PurchaseOfEquipmentThroughNotesPayableAndCapitalLeaseObligations
957000
CY2010 lope Purchases Of Property And Equipment Included In Accounts Payable And Deferred Rent
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndDeferredRent
4421000
CY2010 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
55833000
CY2010 lope Share Based Compensation Expense Net Of Tax
ShareBasedCompensationExpenseNetOfTax
3029000
CY2010 lope Tax Benefit Of Spirit Warrant Intangible
TaxBenefitOfSpiritWarrantIntangible
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CY2010 lope Ninety By Ten Revenue Test
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CY2010 lope Deferred Income Tax Expense Benefit Net Of Noncash Transactions
DeferredIncomeTaxExpenseBenefitNetOfNoncashTransactions
-5436000
CY2011 us-gaap Increase Decrease In Restructuring Reserve
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CY2011 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2011 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2011 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2011 us-gaap Net Cash Provided By Used In Investing Activities
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CY2011 us-gaap Investment Income Interest
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CY2011 us-gaap Payments Of Debt Issuance Costs
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CY2011 us-gaap Income Taxes Paid
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CY2011 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
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CY2011 us-gaap Increase Decrease In Customer Deposits
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2011 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2011 us-gaap Increase Decrease In Due To Related Parties Current
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CY2011 us-gaap Interest Costs Incurred Capitalized
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CY2011 us-gaap Effective Income Tax Rate Continuing Operations
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0.380 pure
CY2011 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y6M
CY2011 us-gaap Weighted Average Number Of Shares Outstanding Basic
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44631000 shares
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
172000 shares
CY2011 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
3748000
CY2011 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
23112000
CY2011 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2011 us-gaap Increase Decrease In Accounts Receivable
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CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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CY2011 us-gaap Interest Paid
InterestPaid
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CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Tax
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70000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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403000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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0.002 pure
CY2011 us-gaap Share Based Compensation
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CY2011 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2011 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2011 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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CY2011 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2011 us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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CY2011 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2011 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
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CY2011 us-gaap Current State And Local Tax Expense Benefit
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CY2011 us-gaap Operating Income Loss
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CY2011 us-gaap Other Noncash Income Expense
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CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2011 us-gaap Earnings Per Share Basic
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CY2011 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2011 us-gaap Deferred Income Tax Expense Benefit
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CY2011 us-gaap Defined Benefit Plan Contributions By Plan Participants
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CY2011 us-gaap Net Income Loss
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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CY2011 us-gaap Costs And Expenses
CostsAndExpenses
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0258 pure
CY2011 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
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CY2011 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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161000
CY2011 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
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140000
CY2011 us-gaap Earnings Per Share Diluted
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1.12
CY2011 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
304000
CY2011 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
23112000
CY2011 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4185 pure
CY2011 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
474000 shares
CY2011 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2011 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
50631000
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
CY2011 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
146000
CY2011 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
7441000
CY2011 us-gaap Advertising Expense
AdvertisingExpense
45587000
CY2011 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
6158000
CY2011 us-gaap Revenues
Revenues
426741000
CY2011 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1628000
CY2011 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
3155000
CY2011 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30982000
CY2011 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6452000
CY2011 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.012 pure
CY2011 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-5405000
CY2011 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
80545000
CY2011 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
877000
CY2011 us-gaap Interest Costs Incurred
InterestCostsIncurred
1233000
CY2011 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
937000
CY2011 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
10178000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.29
CY2011 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6452000
CY2011 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2158000 shares
CY2011 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
7388000
CY2011 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
123000
CY2011 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3300000
CY2011 us-gaap Interest Expense
InterestExpense
720000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.98
CY2011 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-3599000
CY2011 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2011 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
18125000
CY2011 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
87962000
CY2011 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-7000
CY2011 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
80000
CY2011 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.055 pure
CY2011 lope Lease Termination Fee
LeaseTerminationFee
782000
CY2011 lope Annual Payment Under Agreement
AnnualPaymentUnderAgreement
8500000
CY2011 lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
4143000
CY2011 lope Accrued Litigation Loss
AccruedLitigationLoss
5200000
CY2011 lope Agreement Period Of Acquired Source Code Rights For Software Developed Prepaid Maintenance And Service Fee
AgreementPeriodOfAcquiredSourceCodeRightsForSoftwareDevelopedPrepaidMaintenanceAndServiceFee
P7Y
CY2011 lope Arrangement Expense
ArrangementExpense
877000
CY2012 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-131546000
CY2012 us-gaap Investment Income Interest
InvestmentIncomeInterest
71000
CY2012 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
428000
CY2012 us-gaap Income Taxes Paid
IncomeTaxesPaid
32810000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromCurrentPeriodTaxPositions
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
69584000
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
CY2012 us-gaap Interest Costs Incurred
InterestCostsIncurred
1064000
CY2011 lope Capitalized Interest Rate On Borrowing To Finance Improvement
CapitalizedInterestRateOnBorrowingToFinanceImprovement
0.023 pure
CY2011 lope Depreciation And Amortization Including Assets Under Capital Lease
DepreciationAndAmortizationIncludingAssetsUnderCapitalLease
16339000
CY2011 lope Instructional Costs And Services
InstructionalCostsAndServices
194801000
CY2011 lope Marketing Services Provided By Related Party
MarketingServicesProvidedByRelatedParty
80000
CY2011 lope Purchase Of Equipment Through Notes Payable And Capital Lease Obligations
PurchaseOfEquipmentThroughNotesPayableAndCapitalLeaseObligations
801000
CY2011 lope Purchases Of Property And Equipment Included In Accounts Payable And Deferred Rent
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndDeferredRent
325000
CY2011 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
73612000
CY2011 lope Share Based Compensation Expense Net Of Tax
ShareBasedCompensationExpenseNetOfTax
3871000
CY2011 lope Shortfall Tax Expense From Share Based Compensation
ShortfallTaxExpenseFromShareBasedCompensation
151000
CY2011 lope Tax Benefit Of Spirit Warrant Intangible
TaxBenefitOfSpiritWarrantIntangible
291000
CY2011 lope Ninety By Ten Revenue Test
NinetyByTenRevenueTest
0.802 pure
CY2011 lope Deferred Income Tax Expense Benefit Net Of Noncash Transactions
DeferredIncomeTaxExpenseBenefitNetOfNoncashTransactions
20804000
CY2012 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2012 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2012 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012 dei Document Type
DocumentType
10-K
CY2012 dei Document Period End Date
DocumentPeriodEndDate
2012-12-31
CY2012 dei Entity Central Index Key
EntityCentralIndexKey
0001434588
CY2012 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2012 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2012 dei Trading Symbol
TradingSymbol
LOPE
CY2012 dei Entity Registrant Name
EntityRegistrantName
GRAND CANYON EDUCATION, INC.
CY2012 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2012 dei Amendment Flag
AmendmentFlag
false
CY2012 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
611000 shares
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
32000
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
8049000
CY2012 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
143000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.16
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
8049000
CY2012 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M6D
CY2012 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
296000
CY2012 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44332000 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
124000 shares
CY2012 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
365000
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y2M19D
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.388 pure
CY2012 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
21744000
CY2012 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
15242000
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
6891000
CY2012 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
14148000
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
113424000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P5Y
CY2012 us-gaap Interest Paid
InterestPaid
606000
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
104000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
4683000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.002 pure
CY2012 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-1106000
CY2012 us-gaap Share Based Compensation
ShareBasedCompensation
7811000
CY2012 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.007 pure
CY2012 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18012000
CY2012 us-gaap Depreciation And Amortization
DepreciationAndAmortization
21923000
CY2012 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
83922000
CY2012 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
141300000
CY2012 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7575000
CY2012 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
10864000
CY2012 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
27000000
CY2012 us-gaap Operating Income Loss
OperatingIncomeLoss
114052000
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3124000
CY2012 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.57
CY2012 us-gaap Stock Repurchase Program Authorized Amount
StockRepurchaseProgramAuthorizedAmount
25000000
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
35502000
CY2012 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45251000 shares
CY2012 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
919000 shares
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2012 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-12-31
CY2012 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M16D
CY2012 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
71272000
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-518000
CY2012 us-gaap Defined Benefit Plan Contributions By Plan Participants
DefinedBenefitPlanContributionsByPlanParticipants
1500000
CY2012 us-gaap Net Income Loss
NetIncomeLoss
69447000
CY2012 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
99210000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
shares
CY2012 us-gaap Costs And Expenses
CostsAndExpenses
397205000
CY2012 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-151000
CY2012 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitRealizedFromExerciseOfStockOptions
1873000
CY2012 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
564000
CY2012 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.53
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
5000
CY2012 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15242000
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.016 pure
CY2012 us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
-330000
CY2012 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
97653000
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
36818000
CY2012 us-gaap Advertising Expense
AdvertisingExpense
51023000
CY2012 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1920000
CY2012 us-gaap Revenues
Revenues
511257000
CY2012 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
214000
CY2012 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-630000
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
43977000
CY2012 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7811000
CY2012 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2328000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1427000
CY2012 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1054000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
44393000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
17.63
CY2012 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
87000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7811000
CY2012 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1599000 shares
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
7635000
CY2012 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Use of Estimates</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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></p> </div>
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
15719000
CY2012 us-gaap Interest Expense
InterestExpense
699000
CY2012 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
20593000
CY2012 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P15Y
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-448000
CY2012 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
144196000
CY2012 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
137000
CY2012 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
1427000
CY2012 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
244000
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.059 pure
CY2012 lope Original Line Of Credit Facility Expiration Date
OriginalLineOfCreditFacilityExpirationDate
December 31, 2019
CY2012 lope Notes Receivable Fixed Interest Rate
NotesReceivableFixedInterestRate
0.11 pure
CY2012 lope Notes Receivable Interest Rate
NotesReceivableInterestRate
0.05 pure
CY2012 lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
503000
CY2012 lope Amortization Of Other Current Assets Under Reclassification
AmortizationOfOtherCurrentAssetsUnderReclassification
Next twelve month cycle
CY2012 lope Arrangement Expense
ArrangementExpense
2328000
CY2012 lope Average Days From Date Of Receipt In Which Funds Remain As Restricted Cash And Cash Equivalents
AverageDaysFromDateOfReceiptInWhichFundsRemainAsRestrictedCashAndCashEquivalents
60 to 90 days
CY2012 lope Capitalized Interest Rate On Borrowing To Finance Improvement
CapitalizedInterestRateOnBorrowingToFinanceImprovement
0.022 pure
CY2012 lope Capital Lease Interest Rate Stated Percentage Rate Range Maximum
CapitalLeaseInterestRateStatedPercentageRateRangeMaximum
0.022 pure
CY2012 lope Common Stock Acquired Shares
CommonStockAcquiredShares
752000 shares
CY2012 lope Depreciation And Amortization Including Assets Under Capital Lease
DepreciationAndAmortizationIncludingAssetsUnderCapitalLease
21264000
CY2012 lope Expiration Period Of Option Vested
ExpirationPeriodOfOptionVested
P10Y
CY2012 lope Fair Value Of Shares Issued Of License Agreement
FairValueOfSharesIssuedOfLicenseAgreement
3394000
CY2012 lope Instructional Costs And Services
InstructionalCostsAndServices
220403000
CY2012 lope Interest Expense On Derivatives Related To Credit Risk
InterestExpenseOnDerivativesRelatedToCreditRisk
3000
CY2012 lope Maximum Percentage Of Variable Interest Rates Based On Base Interest Rate
MaximumPercentageOfVariableInterestRatesBasedOnBaseInterestRate
0.04 pure
CY2012 lope Minimum Eligible Age To Participate In Plan
MinimumEligibleAgeToParticipateInPlan
21 Age
CY2012 lope Percentage Deducted From Base Interest Rate For Actual Payment
PercentageDeductedFromBaseInterestRateForActualPayment
0.02 pure
CY2012 lope Percentage Of Amount Paid By University
PercentageOfAmountPaidByUniversity
0.04 pure
CY2012 lope Percent Of Financial Aid Earn By Student
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1.00 pure
CY2012 lope Period Of Base Interest Rate
PeriodOfBaseInterestRate
P30D
CY2012 lope Purchases Of Property And Equipment Included In Accounts Payable And Deferred Rent
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndDeferredRent
3291000
CY2012 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
94283000
CY2012 lope Share Based Compensation Expense Net Of Tax
ShareBasedCompensationExpenseNetOfTax
4687000
CY2012 lope Shortfall Tax Expense From Share Based Compensation
ShortfallTaxExpenseFromShareBasedCompensation
283000
CY2012 lope Tax Benefit Of Spirit Warrant Intangible
TaxBenefitOfSpiritWarrantIntangible
267000
CY2012 lope Fixed Rate Of Interest On Loans
FixedRateOfInterestOnLoans
0.06 pure
CY2012 lope Discount Rate To Determine Present Value Of Cash Flow
DiscountRateToDeterminePresentValueOfCashFlow
0.35 pure
CY2012 lope Additional Borrowing Term Loan
AdditionalBorrowingTermLoan
100000000
CY2012 lope Purchase Of Land Related To Future Development
PurchaseOfLandRelatedToFutureDevelopment
7223000
CY2012 lope Number Of Leased Properties
NumberOfLeasedProperties
1 Property
CY2012 lope Number Of Consolidated Properties
NumberOfConsolidatedProperties
4 Property
CY2012 lope Ninety By Ten Revenue Test
NinetyByTenRevenueTest
0.803 pure
CY2012 lope Deferred Income Tax Expense Benefit Net Of Noncash Transactions
DeferredIncomeTaxExpenseBenefitNetOfNoncashTransactions
-416000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
39136000
lope Common Stock Acquired Shares
CommonStockAcquiredShares
2410000 shares
CY2011Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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45590000 shares
CY2011Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
16095000
CY2011Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
29832000
CY2011Q1 us-gaap Operating Income Loss
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16170000
CY2011Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2011Q1 us-gaap Net Income Loss
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9481000
CY2011Q1 us-gaap Costs And Expenses
CostsAndExpenses
85539000
CY2011Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2011Q1 us-gaap General And Administrative Expense
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6832000
CY2011Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46089000 shares
CY2011Q1 us-gaap Revenues
Revenues
101709000
CY2011Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
6614000
CY2011Q1 lope Lease Termination Fee
LeaseTerminationFee
CY2011Q1 lope Interest Expense Net
InterestExpenseNet
75000
CY2011Q1 lope Instructional Costs And Services
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48875000
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44658000 shares
CY2011Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22014000
CY2011Q2 us-gaap Selling And Marketing Expense
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CY2011Q2 us-gaap Operating Income Loss
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22017000
CY2011Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2011Q2 us-gaap Net Income Loss
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12873000
CY2011Q2 us-gaap Costs And Expenses
CostsAndExpenses
81101000
CY2011Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2011Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7038000
CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45018000 shares
CY2011Q2 us-gaap Revenues
Revenues
103118000
CY2011Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9141000
CY2011Q2 lope Lease Termination Fee
LeaseTerminationFee
CY2011Q2 lope Interest Expense Net
InterestExpenseNet
3000
CY2011Q2 lope Amount Paid To Settle Qui Tam Matter
AmountPaidToSettleQuiTamMatter
5200000
CY2011Q2 lope Instructional Costs And Services
InstructionalCostsAndServices
46354000
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44371000 shares
CY2012Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
24007000
CY2012Q1 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
34559000
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
24204000
CY2012Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
14469000
CY2012Q1 us-gaap Costs And Expenses
CostsAndExpenses
92927000
CY2012Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2012Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7544000
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45151000 shares
CY2012Q1 us-gaap Revenues
Revenues
117131000
CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
25346000
CY2012Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
32755000
CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
25398000
CY2012Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9538000
CY2012Q1 lope Interest Expense Net
InterestExpenseNet
197000
CY2012Q1 lope Instructional Costs And Services
InstructionalCostsAndServices
50824000
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44447000 shares
CY2012Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2012Q2 us-gaap Net Income Loss
NetIncomeLoss
15598000
CY2012Q2 us-gaap Costs And Expenses
CostsAndExpenses
93862000
CY2012Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2012Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7701000
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45169000 shares
CY2012Q2 us-gaap Revenues
Revenues
119260000
CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9748000
CY2012Q2 lope Interest Expense Net
InterestExpenseNet
52000
CY2012Q2 lope Instructional Costs And Services
InstructionalCostsAndServices
53406000
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44302000 shares
CY2011Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
20511000
CY2011Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31248000
CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
20661000
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2011Q3 us-gaap Net Income Loss
NetIncomeLoss
12868000
CY2011Q3 us-gaap Costs And Expenses
CostsAndExpenses
88248000
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29
CY2011Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7145000
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44787000 shares
CY2011Q3 us-gaap Revenues
Revenues
108909000
CY2011Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7643000
CY2011Q3 lope Lease Termination Fee
LeaseTerminationFee
922000
CY2011Q3 lope Interest Expense Net
InterestExpenseNet
150000
CY2011Q3 lope Instructional Costs And Services
InstructionalCostsAndServices
48933000
CY2011Q3 lope Period For Write Off Inactive Student Accounts
PeriodForWriteOffInactiveStudentAccounts
P150D
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44365000 shares
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
31065000
CY2012Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
36450000
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
31203000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
18471000
CY2012Q3 us-gaap Costs And Expenses
CostsAndExpenses
102365000
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.41
CY2012Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8561000
CY2011Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
31166000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45339000 shares
CY2012Q3 us-gaap Revenues
Revenues
133568000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12594000
CY2012Q3 lope Interest Expense Net
InterestExpenseNet
138000
CY2012Q3 lope Instructional Costs And Services
InstructionalCostsAndServices
57354000
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44317000 shares
CY2011Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
22908000
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
23312000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
15324000
CY2011Q4 us-gaap Costs And Expenses
CostsAndExpenses
89693000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
CY2011Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8028000
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44868000 shares
CY2011Q4 us-gaap Revenues
Revenues
113005000
CY2011Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7584000
CY2011Q4 lope Lease Termination Fee
LeaseTerminationFee
-140000
CY2011Q4 lope Interest Expense Net
InterestExpenseNet
404000
CY2011Q4 lope Instructional Costs And Services
InstructionalCostsAndServices
50639000
CY2011Q4 lope Lease Termination Fee Payable
LeaseTerminationFeePayable
1093000
CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44167000 shares
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
33006000
CY2012Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
37536000
CY2012Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
33247000
CY2012Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2012Q4 us-gaap Net Income Loss
NetIncomeLoss
20909000
CY2012Q4 us-gaap Costs And Expenses
CostsAndExpenses
108051000
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.46
CY2012Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11696000
CY2012Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45364000 shares
CY2012Q4 us-gaap Revenues
Revenues
141298000
CY2012Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12097000
CY2012Q4 lope Interest Expense Net
InterestExpenseNet
241000
CY2012Q4 lope Instructional Costs And Services
InstructionalCostsAndServices
58819000

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