$LOPE
Grand Canyon Education, Inc.

2015 Q4 Form 10-K Financial Statement

#000119312517046698 Filed on February 16, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $216.0M $193.4M $174.7M
YoY Change 13.68% 10.47% 10.17%
Cost Of Revenue $92.40M $83.20M $75.40M
YoY Change 17.56% 16.04% 11.21%
Gross Profit $123.5M $110.2M $99.40M
YoY Change 10.86% 6.68% 9.59%
Gross Profit Margin 57.19% 56.98% 56.89%
Selling, General & Admin $12.61M $14.36M $11.32M
YoY Change 2.9% 5.84% 3.86%
% of Gross Profit 10.21% 13.03% 11.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.30M $9.000M $8.200M
YoY Change 27.16% 21.62% 15.49%
% of Gross Profit 8.34% 8.17% 8.25%
Operating Expenses $12.61M $14.36M $11.32M
YoY Change 2.9% 5.84% 3.86%
Operating Profit $63.14M $48.98M $42.26M
YoY Change 17.93% 6.59% 11.53%
Interest Expense $414.0K $313.0K $146.0K
YoY Change 19.65% -45.66% -58.99%
% of Operating Profit 0.66% 0.64% 0.35%
Other Income/Expense, Net
YoY Change
Pretax Income $62.03M $48.87M $42.24M
YoY Change 15.95% 7.59% 11.95%
Income Tax $23.92M $15.53M $16.46M
% Of Pretax Income 38.56% 31.78% 38.97%
Net Earnings $38.11M $33.34M $25.78M
YoY Change 15.17% 14.91% 11.73%
Net Earnings / Revenue 17.65% 17.24% 14.75%
Basic Earnings Per Share $0.83 $0.72 $0.56
Diluted Earnings Per Share $0.81 $0.70 $0.55
COMMON SHARES
Basic Shares Outstanding 46.04M shares 46.06M shares 46.01M shares
Diluted Shares Outstanding 47.34M shares 47.32M shares 47.26M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.4M $162.2M $134.2M
YoY Change -35.9% -11.66% -24.05%
Cash & Equivalents $23.04M $78.18M $50.71M
Short-Term Investments $83.40M $84.00M $83.50M
Other Short-Term Assets $20.86M $21.15M $18.54M
YoY Change 7.39% 8.41% 7.73%
Inventory
Prepaid Expenses
Receivables $8.298M $9.500M $8.158M
Other Receivables $4.000M $0.00 $0.00
Total Short-Term Assets $214.9M $263.2M $231.1M
YoY Change -19.53% -4.34% -11.51%
LONG-TERM ASSETS
Property, Plant & Equipment $667.5M $639.6M $588.3M
YoY Change 39.59% 36.3% 41.33%
Goodwill $2.941M $2.941M $2.941M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.306M $3.377M $3.145M
YoY Change -15.38% -22.67% -28.97%
Total Long-Term Assets $677.1M $649.4M $597.9M
YoY Change 38.56% 35.19% 39.88%
TOTAL ASSETS
Total Short-Term Assets $214.9M $263.2M $231.1M
Total Long-Term Assets $677.1M $649.4M $597.9M
Total Assets $892.0M $912.6M $828.9M
YoY Change 18.03% 20.8% 20.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $34.15M $41.48M $36.41M
YoY Change 50.34% 25.99% 9.37%
Accrued Expenses $13.85M $14.82M $14.88M
YoY Change 2.31% 5.22% -4.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.300M $7.200M $7.100M
YoY Change 8.96% 7.46% 5.97%
Total Short-Term Liabilities $188.5M $238.8M $189.5M
YoY Change 5.5% 9.41% 5.33%
LONG-TERM LIABILITIES
Long-Term Debt $74.00M $75.90M $76.70M
YoY Change -7.85% -7.44% -8.25%
Other Long-Term Liabilities $4.302M $3.689M $3.953M
YoY Change -4.68% -9.47% -35.68%
Total Long-Term Liabilities $4.302M $3.689M $3.953M
YoY Change -4.68% -9.47% -35.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $188.5M $238.8M $189.5M
Total Long-Term Liabilities $4.302M $3.689M $3.953M
Total Liabilities $281.7M $333.0M $285.6M
YoY Change 0.81% 5.37% 1.55%
SHAREHOLDERS EQUITY
Retained Earnings $502.4M $464.3M $430.9M
YoY Change 35.42% 37.4% 39.52%
Common Stock $177.7M $173.8M $502.0K
YoY Change 11.71% 34870.42% 1.01%
Preferred Stock
YoY Change
Treasury Stock (at cost) $69.33M $58.00M $58.00M
YoY Change 28.94% 7.87% 7.87%
Treasury Stock Shares 3.411M shares 3.109M shares 3.104M shares
Shareholders Equity $610.3M $579.6M $543.3M
YoY Change
Total Liabilities & Shareholders Equity $892.0M $912.6M $828.9M
YoY Change 18.03% 20.8% 20.39%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $38.11M $33.34M $25.78M
YoY Change 15.17% 14.91% 11.73%
Depreciation, Depletion And Amortization $10.30M $9.000M $8.200M
YoY Change 27.16% 21.62% 15.49%
Cash From Operating Activities $4.900M $87.30M $13.50M
YoY Change -52.43% 29.72% -62.18%
INVESTING ACTIVITIES
Capital Expenditures -$48.60M -$57.80M -$66.20M
YoY Change 77.37% -2.36% 20.8%
Acquisitions
YoY Change
Other Investing Activities $600.0K -$500.0K $17.50M
YoY Change -97.72% -101.7% 1844.44%
Cash From Investing Activities -$48.00M -$58.20M -$48.70M
YoY Change 4263.64% 95.3% -9.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -12.10M -1.600M -200.0K
YoY Change 2925.0% 33.33% -77.78%
NET CHANGE
Cash From Operating Activities 4.900M 87.30M 13.50M
Cash From Investing Activities -48.00M -58.20M -48.70M
Cash From Financing Activities -12.10M -1.600M -200.0K
Net Change In Cash -55.20M 27.50M -35.40M
YoY Change -727.27% -24.24% 86.32%
FREE CASH FLOW
Cash From Operating Activities $4.900M $87.30M $13.50M
Capital Expenditures -$48.60M -$57.80M -$66.20M
Free Cash Flow $53.50M $145.1M $79.70M
YoY Change 41.91% 14.7% -11.93%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Concentration of Credit Risk</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The University believes the credit risk related to cash equivalents and investments is limited due to its adherence to an investment policy that required investments to have a minimum BBB rating, depending on the type of security, by one major rating agency at the time of purchase. All of the University&#x2019;s cash equivalents and investments as of December&#xA0;31, 2016 and 2015 consist of investments rated BBB or higher by at least one rating agency. Additionally, the University utilizes more than one financial institution to conduct initial and ongoing credit analysis on its investment portfolio to monitor and lower the potential impact of market risk associated with its cash equivalents and investment portfolio.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> A majority of the University&#x2019;s revenues are derived from tuition financed under the Title IV programs of the Higher Education Act of 1965, as amended (the &#x201C;Higher Education Act&#x201D;). The financial aid and assistance programs are subject to political and budgetary considerations and are subject to extensive and complex regulations. The University&#x2019;s administration of these programs is periodically reviewed by various regulatory agencies. Any regulatory violation could be the basis for the initiation of potentially adverse actions including a suspension, limitation, or termination proceeding, which could have a material adverse effect on the University.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> Students obtain access to federal student financial aid through a Department of Education prescribed application and eligibility certification process. Student financial aid funds are generally made available to students at prescribed intervals throughout their predetermined expected length of study. Students typically apply the funds received from the federal financial aid programs first to pay their tuition and fees. Any remaining funds are distributed directly to the student.</p> </div>
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Large Accelerated Filer
CY2016 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4831000
CY2016 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4910000
CY2016 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
8432000
CY2016 us-gaap Available For Sale Securities Change In Net Unrealized Holding Gain Loss Net Of Tax
AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax
-430000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.371 pure
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
9928000
CY2016 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
9921000
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
66206000
CY2016 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-4793000
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
94000
CY2016 us-gaap Proceeds From Sale Of Equity Method Investments
ProceedsFromSaleOfEquityMethodInvestments
1749000
CY2016 us-gaap Net Income Loss
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148514000
CY2016 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
18639000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
236124000
CY2016 us-gaap Sales Revenue Net
SalesRevenueNet
873344000
CY2016 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
11892000
CY2016 us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
9547000
CY2016 us-gaap Interest Paid
InterestPaid
1220000
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
6694000
CY2016 us-gaap Property Plant And Equipment Useful Life
PropertyPlantAndEquipmentUsefulLife
P15Y
CY2016 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-151000
CY2016 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
69925000
CY2016 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
7298000
CY2016 us-gaap Interest Expense
InterestExpense
1328000
CY2016 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-216001000
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
194000
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
20340000
CY2016 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-12-31
CY2016 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
25000000
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
20062000
CY2016 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1973000
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
237203000
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
168000
CY2016 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
49157000
CY2016 us-gaap Interest Costs Incurred
InterestCostsIncurred
2538000
CY2016 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
1210000
CY2016 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
20655000
CY2016 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-270000
CY2016 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
178292000
CY2016 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2863000
CY2016 us-gaap Increase Decrease In Due To Related Parties Current
IncreaseDecreaseInDueToRelatedPartiesCurrent
-555000
CY2016 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
9000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
87610000
CY2016 us-gaap Marketing Expense
MarketingExpense
8860000
CY2016 us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> <b>1. Nature of Business</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> Grand Canyon Education, Inc. (together with its subsidiaries, the &#x201C;University&#x201D;) was formed in Delaware in November 2003 as a limited liability company, under the name Significant Education, LLC, for the purpose of acquiring the assets of Grand Canyon University from a non-profit foundation on February&#xA0;2, 2004. On August&#xA0;24, 2005, the University converted from a limited liability company to a corporation and changed its name to Significant Education, Inc. On May&#xA0;9, 2008, the University changed its name to Grand Canyon Education, Inc.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: &quot;Times New Roman&quot;; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; ORPHANS: 2; WIDOWS: 2; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px"> The University is a comprehensive regionally accredited university that offers over 200 graduate and undergraduate degree programs and certificates across nine colleges both online and on ground at our over 260 acre campus in Phoenix, Arizona, and at facilities we lease and at facilities owned by third party employers. Our undergraduate programs are designed to be innovative and to meet the future needs of employers, while providing students with the needed critical thinking and effective communication skills developed through a Christian, liberal arts foundation. We offer master&#x2019;s and doctoral degrees in contemporary fields that are designed to provide students with the capacity for transformational leadership in their chosen industry, emphasizing the immediate relevance of theory, application, and evaluation to promote personal and organizational change. The University is accredited by the Higher Learning Commission. The University&#x2019;s wholly owned subsidiaries are primarily used to facilitate expansion of the University campus.</p> </div>
CY2016 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
218286000
CY2016 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1161000
CY2016 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
9139000
CY2016 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
980000
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
946000 shares
CY2016 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> 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.</p> </div>
CY2016 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7581000
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
15367000
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WeightedAverageNumberOfDilutedSharesOutstanding
47121000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1038000 shares
CY2016 us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
7224000
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
416000 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46083000 shares
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
13207000
CY2016 dei Trading Symbol
TradingSymbol
LOPE
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ProceedsFromSaleOfNotesReceivable
501000
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13207000
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
41283000
CY2016 us-gaap Restricted Cash And Cash Equivalent Item Agreement
RestrictedCashAndCashEquivalentItemAgreement
60 to 90 days
CY2016 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2017-12-31
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2016 lope Period For Write Off Inactive Student Accounts
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P150D
CY2016 lope Number Of Degree Programs Offered
NumberOfDegreeProgramsOffered
200 Degrees
CY2016 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
179230000
CY2016 lope Minimum Eligible Age To Participate In Plan
MinimumEligibleAgeToParticipateInPlan
P21Y
CY2015Q1 us-gaap Costs And Expenses
CostsAndExpenses
138141000
CY2015Q1 us-gaap Sales Revenue Net
SalesRevenueNet
194127000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
34179000
CY2016 lope Capitalized Interest Rate On Borrowing To Finance Improvement
CapitalizedInterestRateOnBorrowingToFinanceImprovement
0.022 pure
CY2016 lope Real Estate Property Description
RealEstatePropertyDescription
260 acre campus
CY2016 lope Tax Benefit Of Spirit Warrant Intangible
TaxBenefitOfSpiritWarrantIntangible
253000
CY2016 lope Ninety By Ten Revenue Test
NinetyByTenRevenueTest
0.723 pure
CY2016 lope Purchase Of Land Related To Offsite Development
PurchaseOfLandRelatedToOffsiteDevelopment
60727000
CY2016 lope Period Of Base Interest Rate
PeriodOfBaseInterestRate
P30D
CY2016 lope Number Of Colleges
NumberOfColleges
9 Colleges
CY2016 lope Instructional Costs And Services
InstructionalCostsAndServices
373101000
CY2016 lope Depreciation And Amortization Including Assets Under Capital Lease
DepreciationAndAmortizationIncludingAssetsUnderCapitalLease
44829000
CY2016 lope Shortfall Tax Expense From Share Based Compensation
ShortfallTaxExpenseFromShareBasedCompensation
260000
CY2016 lope Discount Rate To Determine Present Value Of Cash Flow
DiscountRateToDeterminePresentValueOfCashFlow
0.35 pure
CY2016 lope Amortization Of Other Current Assets Under Reclassification
AmortizationOfOtherCurrentAssetsUnderReclassification
Next twelve month
CY2016 lope Interest And Other Income Expense Nonoperating
InterestAndOtherIncomeExpenseNonoperating
249000
CY2016 lope Purchases Of Property And Equipment Included In Accounts Payable
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayable
7746000
CY2016 lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
119286000
CY2016 lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-475000
CY2016 lope Lease Termination Costs
LeaseTerminationCosts
3523000
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AdvertisingExpense
20031000
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GeneralAndAdministrativeExpense
9396000
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EarningsPerShareBasic
0.75
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EarningsPerShareDiluted
0.72
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IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
55868000
CY2015Q1 us-gaap Interest Expense
InterestExpense
375000
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55986000
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21689000
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1694000
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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47201000 shares
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45789000 shares
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78687000
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257000
CY2015Q1 lope Admissions Advisory And Related Expenses
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28333000
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18419000
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9534000
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0.56
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0.55
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132470000
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174726000
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42237000
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146000
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42256000
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16461000
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1788000
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47263000 shares
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46012000 shares
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75357000
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127000
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27372000
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21107000
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10720000
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0.96
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0.93
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158267000
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226958000
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70410000
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329000
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68691000
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26745000
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2242000
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46860000 shares
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45622000 shares
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94654000
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2048000
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29544000
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22149000
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8809000
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0.60
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0.59
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146531000
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191279000
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27626000
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44883000
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158000
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44748000
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17257000
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2108000
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46990000 shares
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46004000 shares
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84599000
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293000
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28866000
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19360000
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12536000
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0.70
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144409000
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193393000
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47320000 shares
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46063000 shares
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83180000
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27506000
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23896000
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13430000
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47175000 shares
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46231000 shares
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91748000
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3363000
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10634000
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0.83
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0.81
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152819000
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215954000
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38114000
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62030000
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414000
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63135000
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1978000
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47337000 shares
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46035000 shares
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92427000
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1.01
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76400000
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497000
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2383000
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47452000 shares
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46470000 shares
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102100000
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199000
CY2016Q4 lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
32062000
CY2016Q4 lope Lease Termination Costs
LeaseTerminationCosts
160000

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