$LOPE
Grand Canyon Education, Inc.

2017 Q4 Form 10-K Financial Statement

#000119312518051923 Filed on February 21, 2018

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2017 Q2
Revenue $271.4M $236.2M $218.3M
YoY Change 10.94% 12.24% 14.13%
Cost Of Revenue $108.9M $104.3M $95.00M
YoY Change 6.66% 13.74% 12.29%
Gross Profit $162.5M $131.9M $123.3M
YoY Change 13.96% 11.12% 15.56%
Gross Profit Margin 59.87% 55.84% 56.48%
Selling, General & Admin $13.40M $36.47M $12.32M
YoY Change 5.99% 134.45% 12.87%
% of Gross Profit 8.25% 27.65% 9.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $13.70M $13.60M $13.60M
YoY Change 5.38% 18.26% 27.1%
% of Gross Profit 8.43% 10.31% 11.03%
Operating Expenses $13.40M $36.47M $12.32M
YoY Change 5.99% 134.45% 12.87%
Operating Profit $91.35M $59.69M $55.09M
YoY Change 19.1% 26.83% 23.11%
Interest Expense $527.0K $567.0K $495.0K
YoY Change 6.04% 64.83% 213.29%
% of Operating Profit 0.58% 0.95% 0.9%
Other Income/Expense, Net
YoY Change
Pretax Income $91.58M $60.57M $55.33M
YoY Change 19.86% 36.32% 23.28%
Income Tax $23.32M $21.27M $15.49M
% Of Pretax Income 25.47% 35.11% 27.99%
Net Earnings $68.26M $39.30M $39.85M
YoY Change 42.26% 34.4% 44.24%
Net Earnings / Revenue 25.15% 16.64% 18.25%
Basic Earnings Per Share $1.44 $0.83 $0.85
Diluted Earnings Per Share $1.41 $0.81 $0.83
COMMON SHARES
Basic Shares Outstanding 47.34M shares 47.32M shares 47.15M shares
Diluted Shares Outstanding 48.38M shares 48.29M shares 48.19M shares

Balance Sheet

Concept 2017 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $242.7M $269.8M $155.7M
YoY Change 123.48% 116.19% 65.64%
Cash & Equivalents $153.5M $180.1M $66.28M
Short-Term Investments $89.30M $89.60M $89.40M
Other Short-Term Assets $24.59M $24.70M $22.16M
YoY Change 10.06% 13.77% 24.43%
Inventory
Prepaid Expenses
Receivables $10.91M $12.24M $10.93M
Other Receivables $2.100M $4.600M $4.600M
Total Short-Term Assets $374.9M $386.8M $272.8M
YoY Change 62.94% 66.66% 36.24%
LONG-TERM ASSETS
Property, Plant & Equipment $922.3M $897.5M $888.2M
YoY Change 7.8% 7.79% 11.86%
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 $723.0K $766.0K $1.756M
YoY Change -19.4% -45.44% -61.46%
Total Long-Term Assets $928.7M $904.1M $895.8M
YoY Change 7.69% 7.61% 11.31%
TOTAL ASSETS
Total Short-Term Assets $374.9M $386.8M $272.8M
Total Long-Term Assets $928.7M $904.1M $895.8M
Total Assets $1.304B $1.291B $1.169B
YoY Change 19.32% 20.39% 16.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.14M $27.52M $22.49M
YoY Change 17.38% -4.6% -42.75%
Accrued Expenses $20.76M $23.18M $20.64M
YoY Change -2.47% 11.96% 22.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.700M $6.700M $6.700M
YoY Change -78.8% -64.36% -78.93%
Total Short-Term Liabilities $238.1M $285.1M $204.9M
YoY Change 5.0% 7.14% -12.11%
LONG-TERM LIABILITIES
Long-Term Debt $59.90M $61.60M $63.30M
YoY Change -10.06% -10.2% -9.96%
Other Long-Term Liabilities $1.200M $1.341M $1.433M
YoY Change -28.95% -61.82% -61.96%
Total Long-Term Liabilities $1.200M $1.341M $1.433M
YoY Change -28.95% -61.82% -61.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $238.1M $285.1M $204.9M
Total Long-Term Liabilities $1.200M $1.341M $1.433M
Total Liabilities $317.6M $375.2M $296.3M
YoY Change -0.37% 5.55% -8.72%
SHAREHOLDERS EQUITY
Retained Earnings $854.2M $785.9M $746.6M
YoY Change 31.23% 30.35% 30.14%
Common Stock $233.2M $229.5M $225.3M
YoY Change 9.44% 12.47% 15.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $100.7M $99.05M $99.05M
YoY Change 12.64% 10.87% 11.85%
Treasury Stock Shares 4.152M shares 4.118M shares 4.115M shares
Shareholders Equity $986.0M $915.7M $872.2M
YoY Change
Total Liabilities & Shareholders Equity $1.304B $1.291B $1.169B
YoY Change 19.32% 20.39% 16.28%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $68.26M $39.30M $39.85M
YoY Change 42.26% 34.4% 44.24%
Depreciation, Depletion And Amortization $13.70M $13.60M $13.60M
YoY Change 5.38% 18.26% 27.1%
Cash From Operating Activities $35.00M $136.2M $24.00M
YoY Change 600.0% 35.12% -6.25%
INVESTING ACTIVITIES
Capital Expenditures -$38.20M -$25.90M -$30.30M
YoY Change -3.29% -56.18% -63.45%
Acquisitions
YoY Change
Other Investing Activities -$1.800M $500.0K -$7.800M
YoY Change -86.15% -350.0% -122.48%
Cash From Investing Activities -$40.00M -$25.40M -$38.10M
YoY Change -23.81% -57.17% -20.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.700M -800.0K 900.0K
YoY Change -111.07% -93.55% -96.63%
NET CHANGE
Cash From Operating Activities 35.00M 136.2M 24.00M
Cash From Investing Activities -40.00M -25.40M -38.10M
Cash From Financing Activities -2.700M -800.0K 900.0K
Net Change In Cash -7.700M 110.0M -13.20M
YoY Change -66.67% 278.01% -421.95%
FREE CASH FLOW
Cash From Operating Activities $35.00M $136.2M $24.00M
Capital Expenditures -$38.20M -$25.90M -$30.30M
Free Cash Flow $73.20M $162.1M $54.30M
YoY Change 64.49% 1.38% -49.95%

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CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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CY2015 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2015 us-gaap Earnings Per Share Diluted
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CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
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CY2015 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
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3489000
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CY2015 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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CY2015 us-gaap Stock Issued During Period Value Share Based Compensation
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CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2015 us-gaap Treasury Stock Value Acquired Cost Method
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11279000
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1306000 shares
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45975000 shares
CY2015 lope Shortfall Tax Expense From Share Based Compensation
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26000
CY2015 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
163893000
CY2015 lope Purchase Of Land Related To Offsite Development
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CY2015 lope Cash Restricted Cash And Cash Equivalents Period Increase Decrease
CashRestrictedCashAndCashEquivalentsPeriodIncreaseDecrease
-34658000
CY2015 lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-1211000
CY2015 lope Assets Acquired By Capital Lease
AssetsAcquiredByCapitalLease
1156000
CY2015 lope Depreciation And Amortization Including Assets Under Capital Lease
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34821000
CY2015 lope Instructional Costs And Services
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329651000
CY2015 lope Tax Benefit Of Spirit Warrant Intangible
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253000
CY2015 lope Purchases Of Property And Equipment Included In Accounts Payable
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13277000
CY2015 lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
112572000
CY2015 lope Interest And Other Income Expense Nonoperating
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-106000
CY2015 lope Ninety By Ten Revenue Test
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0.748 pure
CY2015 lope Capitalized Interest Rate On Borrowing To Finance Improvement
CapitalizedInterestRateOnBorrowingToFinanceImprovement
0.019 pure
CY2017 us-gaap Comprehensive Income Net Of Tax
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203505000
CY2017 us-gaap Current Federal Tax Expense Benefit
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CY2015 lope Effective Income Tax Rate Reconciliation Excess Tax Benefits
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0.000 pure
CY2017 us-gaap Advertising Expense
AdvertisingExpense
98608000
CY2017 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
7613000
CY2017 dei Amendment Flag
AmendmentFlag
false
CY2017 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12688000
CY2017 us-gaap Available For Sale Securities Change In Net Unrealized Holding Gain Loss Net Of Tax
AvailableForSaleSecuritiesChangeInNetUnrealizedHoldingGainLossNetOfTax
255000
CY2017 us-gaap Concentration Risk Credit Risk
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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, 2017 and 2016 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>
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
85555000
CY2017 us-gaap Current State And Local Tax Expense Benefit
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8589000
CY2017 us-gaap Costs And Expenses
CostsAndExpenses
691380000
CY2017 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
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DeferredIncomeTaxesAndTaxCredits
-5160000
CY2017 us-gaap Depreciation And Amortization
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DeferredFederalIncomeTaxExpenseBenefit
-6189000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-5346000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
843000
CY2017 us-gaap Defined Benefit Plan Benefit Obligation Contributions By Plan Participant
DefinedBenefitPlanBenefitObligationContributionsByPlanParticipant
2837000
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.283 pure
CY2017 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5075000
CY2017 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2017 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2017
CY2017 dei Document Type
DocumentType
10-K
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.22
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.032 pure
CY2017 dei Entity Registrant Name
EntityRegistrantName
GRAND CANYON EDUCATION, INC.
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2017 dei Document Period End Date
DocumentPeriodEndDate
2017-12-31
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.31
CY2017 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2017 dei Entity Central Index Key
EntityCentralIndexKey
0001434588
CY2017 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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-0.037 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.000 pure
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EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.003 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Other
EffectiveIncomeTaxRateReconciliationTaxCreditsOther
0.007 pure
CY2017 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2017 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
43759000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
283528000
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
69606000
CY2017 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
6156000
CY2017 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
19848000
CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
16048000
CY2017 us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
9417000
CY2017 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3079000
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
80209000
CY2017 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
5378000
CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2399000
CY2017 us-gaap Interest Expense
InterestExpense
2169000
CY2017 us-gaap Interest Costs Incurred
InterestCostsIncurred
2656000
CY2017 us-gaap Interest Costs Capitalized Adjustment
InterestCostsCapitalizedAdjustment
487000
CY2017 us-gaap Interest Paid
InterestPaid
2252000
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1545000
CY2017 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-12-31
CY2017 us-gaap Marketing Expense
MarketingExpense
9629000
CY2017 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: 400; 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; text-decoration-style: initial; text-decoration-color: initial"> <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: 400; 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; text-decoration-style: initial; text-decoration-color: initial"> 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&#xA0;<font style="WHITE-SPACE: nowrap">non-profit</font>&#xA0;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: 400; 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; text-decoration-style: initial; text-decoration-color: initial"> The University is a comprehensive regionally accredited university that offers over 225 graduate and undergraduate degree programs, emphases and certificates across nine colleges both online and on ground at our over 275 acre campus in Phoenix, Arizona, at leased facilities 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>
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
304898000
CY2017 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-35733000
CY2017 us-gaap Operating Income Loss
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282754000
CY2017 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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11000
CY2017 us-gaap Net Income Loss
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203319000
CY2017 us-gaap Restricted Cash And Cash Equivalent Item Agreement
RestrictedCashAndCashEquivalentItemAgreement
60 to 90 days
CY2017 us-gaap Repayments Of Debt And Capital Lease Obligations
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6805000
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6000
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175000
CY2017 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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108000
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-3883000
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65259000
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685000
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7372000
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P15Y
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2000 shares
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
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0 shares
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2017 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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0
CY2017 us-gaap Stock Issued During Period Value Share Based Compensation
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2898000
CY2017 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
7372000
CY2017 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2018-12-31
CY2017 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
17000 shares
CY2017 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1510000
CY2017 dei Trading Symbol
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LOPE
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48235000 shares
CY2017 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1095000 shares
CY2017 us-gaap Use Of Estimates
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<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>
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47140000 shares
CY2017 lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
196334000
CY2017 lope Purchase Of Land Related To Offsite Development
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10368000
CY2017 lope Cash Restricted Cash And Cash Equivalents Period Increase Decrease
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117101000
CY2017 lope Increase Decrease In Deferred Rent
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-369000
CY2017 lope Depreciation And Amortization Including Assets Under Capital Lease
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53607000
CY2017 lope Instructional Costs And Services
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410840000
CY2017 lope Purchases Of Property And Equipment Included In Accounts Payable
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6682000
CY2017 lope Admissions Advisory And Related Expenses
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128544000
CY2017 lope Interest And Other Income Expense Nonoperating
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2943000
CY2017 lope Real Estate Property Description
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275 acre campus
CY2017 lope Number Of Degree Programs Offered
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225 Degrees
CY2017 lope Number Of Colleges
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9 Colleges
CY2017 lope Period For Write Off Inactive Student Accounts
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P150D
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CY2017 lope Comprehensive Review Period
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P10Y
CY2017 lope Mid Term Report Period
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P4Y
CY2017 lope Minimum Eligible Age To Participate In Plan
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P21Y
CY2017 lope Amortization Of Other Current Assets Under Reclassification
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Next twelve month
CY2017 lope Ninety By Ten Revenue Test
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0.715 pure
CY2017 lope Capitalized Interest Rate On Borrowing To Finance Improvement
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0.028 pure
CY2017 lope Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
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10700000
CY2017 lope Effective Income Tax Rate Reconciliation Excess Tax Benefits
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0.058 pure
CY2012 us-gaap Line Of Credit Facility Increase Decrease For Period Net
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100000000
CY2012 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
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