$LOPE
Grand Canyon Education, Inc.

2018 Q2 Form 10-Q Financial Statement

#000119312518242733 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $236.8M $218.3M
YoY Change 8.48% 14.13%
Cost Of Revenue $102.2M $95.00M
YoY Change 7.58% 12.29%
Gross Profit $134.6M $123.3M
YoY Change 9.16% 15.56%
Gross Profit Margin 56.84% 56.48%
Selling, General & Admin $35.86M $12.32M
YoY Change 191.0% 12.87%
% of Gross Profit 26.64% 9.99%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $14.10M $13.60M
YoY Change 3.68% 27.1%
% of Gross Profit 10.48% 11.03%
Operating Expenses $35.86M $12.32M
YoY Change 191.0% 12.87%
Operating Profit $58.49M $55.09M
YoY Change 6.17% 23.11%
Interest Expense $57.00K $495.0K
YoY Change -88.48% 213.29%
% of Operating Profit 0.1% 0.9%
Other Income/Expense, Net
YoY Change
Pretax Income $60.00M $55.33M
YoY Change 8.43% 23.28%
Income Tax $13.96M $15.49M
% Of Pretax Income 23.27% 27.99%
Net Earnings $46.04M $39.85M
YoY Change 15.54% 44.24%
Net Earnings / Revenue 19.44% 18.25%
Basic Earnings Per Share $0.97 $0.85
Diluted Earnings Per Share $0.95 $0.83
COMMON SHARES
Basic Shares Outstanding 47.60M 47.15M shares
Diluted Shares Outstanding 48.41M 48.19M shares

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $298.2M $155.7M
YoY Change 91.52% 65.64%
Cash & Equivalents $221.6M $66.28M
Short-Term Investments $76.50M $89.40M
Other Short-Term Assets $8.748M $22.16M
YoY Change -60.52% 24.43%
Inventory
Prepaid Expenses
Receivables $0.00 $10.93M
Other Receivables $300.0K $4.600M
Total Short-Term Assets $1.282B $272.8M
YoY Change 369.83% 36.24%
LONG-TERM ASSETS
Property, Plant & Equipment $112.2M $888.2M
YoY Change -87.37% 11.86%
Goodwill $2.941M $2.941M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $657.0K $1.756M
YoY Change -62.59% -61.46%
Total Long-Term Assets $118.4M $895.8M
YoY Change -86.78% 11.31%
TOTAL ASSETS
Total Short-Term Assets $1.282B $272.8M
Total Long-Term Assets $118.4M $895.8M
Total Assets $1.400B $1.169B
YoY Change 19.8% 16.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $35.44M $22.49M
YoY Change 57.61% -42.75%
Accrued Expenses $19.00M $20.64M
YoY Change -7.97% 22.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $6.600M $6.700M
YoY Change -1.49% -78.93%
Total Short-Term Liabilities $223.8M $204.9M
YoY Change 9.26% -12.11%
LONG-TERM LIABILITIES
Long-Term Debt $56.60M $63.30M
YoY Change -10.58% -9.96%
Other Long-Term Liabilities $0.00 $1.433M
YoY Change -100.0% -61.96%
Total Long-Term Liabilities $56.60M $1.433M
YoY Change 3849.76% -61.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $223.8M $204.9M
Total Long-Term Liabilities $56.60M $1.433M
Total Liabilities $299.7M $296.3M
YoY Change 1.12% -8.72%
SHAREHOLDERS EQUITY
Retained Earnings $972.9M $746.6M
YoY Change 30.3% 30.14%
Common Stock $241.7M $225.3M
YoY Change 7.3% 15.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $113.8M $99.05M
YoY Change 14.85% 11.85%
Treasury Stock Shares 4.295M shares 4.115M shares
Shareholders Equity $1.100B $872.2M
YoY Change
Total Liabilities & Shareholders Equity $1.400B $1.169B
YoY Change 19.8% 16.28%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $46.04M $39.85M
YoY Change 15.54% 44.24%
Depreciation, Depletion And Amortization $14.10M $13.60M
YoY Change 3.68% 27.1%
Cash From Operating Activities -$63.20M $24.00M
YoY Change -363.33% -6.25%
INVESTING ACTIVITIES
Capital Expenditures -$43.90M -$30.30M
YoY Change 44.88% -63.45%
Acquisitions
YoY Change
Other Investing Activities $14.90M -$7.800M
YoY Change -291.03% -122.48%
Cash From Investing Activities -$28.90M -$38.10M
YoY Change -24.15% -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 -1.900M 900.0K
YoY Change -311.11% -96.63%
NET CHANGE
Cash From Operating Activities -63.20M 24.00M
Cash From Investing Activities -28.90M -38.10M
Cash From Financing Activities -1.900M 900.0K
Net Change In Cash -94.00M -13.20M
YoY Change 612.12% -421.95%
FREE CASH FLOW
Cash From Operating Activities -$63.20M $24.00M
Capital Expenditures -$43.90M -$30.30M
Free Cash Flow -$19.30M $54.30M
YoY Change -135.54% -49.95%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
48227073 shares
CY2018Q2 us-gaap Share Price
SharePrice
111.61
CY2017Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5569000
CY2017Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145722000
CY2018Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
18995000
CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
6093000
CY2018Q2 us-gaap Assets Current
AssetsCurrent
1281570000
CY2018Q2 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
46000
CY2018Q2 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
974353000
CY2018Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
87956000
CY2018Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
241169000
CY2018Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
35444000
CY2018Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-515000
CY2018Q2 us-gaap Assets
Assets
1399968000
CY2018Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
263000
CY2018Q2 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
CY2018Q2 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
76522000
CY2018Q2 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
76783000
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
221632000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
221632000
CY2018Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2018Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
48257000 shares
CY2018Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
52552000 shares
CY2018Q2 us-gaap Common Stock Value
CommonStockValue
526000
CY2018Q2 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
-1174000
CY2018Q2 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
19218000
CY2018Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
23634000
CY2018Q2 us-gaap Goodwill
Goodwill
2941000
CY2018Q2 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
315000
CY2018Q2 us-gaap Liabilities Current
LiabilitiesCurrent
223831000
CY2018Q2 us-gaap Liabilities
Liabilities
299668000
CY2018Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1399968000
CY2018Q2 us-gaap Long Term Notes Payable
LongTermNotesPayable
56619000
CY2018Q2 us-gaap Notes Payable Current
NotesPayableCurrent
6572000
CY2018Q2 us-gaap Other Assets Current
OtherAssetsCurrent
8748000
CY2018Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
657000
CY2018Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2018Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
112185000
CY2018Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2018Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2018Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2018Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
200141000
CY2018Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
972877000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
582000 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
582000 shares
CY2018Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
4295000 shares
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
1100300000
CY2018Q2 us-gaap Treasury Stock Value
TreasuryStockValue
113757000
CY2018Q2 lope Prepaid Royalties Noncurrent
PrepaidRoyaltiesNoncurrent
2615000
CY2018Q2 lope Liabilities Held For Sale Current
LiabilitiesHeldForSaleCurrent
139140000
CY2016Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5918000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
130907000
CY2017Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
20757000
CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
5907000
CY2017Q4 us-gaap Assets Current
AssetsCurrent
374862000
CY2017Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
16182000
CY2017Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
10908000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
231939000
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
232670000
CY2017Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
29139000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-724000
CY2017Q4 us-gaap Assets
Assets
1303573000
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
412000
CY2017Q4 us-gaap Available For Sale Securities Current
AvailableForSaleSecuritiesCurrent
89271000
CY2017Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
89683000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
153474000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
248008000
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
48125000 shares
CY2017Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
52277000 shares
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
523000
CY2017Q4 us-gaap Customer Deposits Current
CustomerDepositsCurrent
95298000
CY2017Q4 us-gaap Deferred Tax Liabilities Noncurrent
DeferredTaxLiabilitiesNoncurrent
18362000
CY2017Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
46895000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
23173000
CY2017Q4 us-gaap Goodwill
Goodwill
2941000
CY2017Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
2086000
CY2017Q4 us-gaap Liabilities Current
LiabilitiesCurrent
238135000
CY2017Q4 us-gaap Liabilities
Liabilities
317622000
CY2017Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1303573000
CY2017Q4 us-gaap Long Term Notes Payable
LongTermNotesPayable
59925000
CY2017Q4 us-gaap Notes Payable Current
NotesPayableCurrent
6691000
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
24589000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
723000
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2017Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1200000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
922284000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1154223000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
854176000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
94534000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
694000 shares
CY2017Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
4152000 shares
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
985951000
CY2017Q4 us-gaap Treasury Stock Value
TreasuryStockValue
100694000
CY2017Q4 lope Prepaid Royalties Noncurrent
PrepaidRoyaltiesNoncurrent
2763000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6229000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
8179000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
3400000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
466507000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48131000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46949000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1182000 shares
us-gaap Advertising Expense
AdvertisingExpense
49407000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
3738000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
14815000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
96061000
us-gaap Costs And Expenses
CostsAndExpenses
334791000
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
3372000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
26856000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.99
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2491000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.04
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19999000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
131382000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
35623000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1708000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1719000
us-gaap Income Taxes Paid
IncomeTaxesPaid
31718000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
11265000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1042000
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-6361000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
8458000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-439000
us-gaap Interest Expense
InterestExpense
1075000
us-gaap Interest Paid Net
InterestPaidNet
1167000
us-gaap Marketing Expense
MarketingExpense
4724000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-86683000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-32162000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
133660000
us-gaap Net Income Loss
NetIncomeLoss
95759000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-74000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
45000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-214000
us-gaap Operating Income Loss
OperatingIncomeLoss
131716000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
376000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
232000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
52181000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9657000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
50491000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
25363000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5895000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-25000000
us-gaap Profit Loss
ProfitLoss
95759000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
7830000
lope Purchase Of Land Related To Offsite Development
PurchaseOfLandRelatedToOffsiteDevelopment
9374000
lope Instructional Costs And Services
InstructionalCostsAndServices
197604000
lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-222000
lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
91703000
lope Purchases Of Property And Equipment Included In Accounts Payable
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayable
7118000
lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
63057000
lope Interest And Other Income Expense Nonoperating
InterestAndOtherIncomeExpenseNonoperating
741000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6734000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
8483000
us-gaap Advertising Expense
AdvertisingExpense
53317000
us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
5051000
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
1246000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26376000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
120084000
us-gaap Costs And Expenses
CostsAndExpenses
363919000
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Type
DocumentType
10-Q
us-gaap Depreciation And Amortization
DepreciationAndAmortization
27971000
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.47
dei Entity Central Index Key
EntityCentralIndexKey
0001434588
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1683000
dei Entity Registrant Name
EntityRegistrantName
GRAND CANYON EDUCATION, INC.
dei Document Period End Date
DocumentPeriodEndDate
2018-06-30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.52
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
23278000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
150725000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
31006000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-1373000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
78000
us-gaap Income Taxes Paid
IncomeTaxesPaid
44234000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
6880000
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-14365000
us-gaap Increase Decrease In Customer Deposits
IncreaseDecreaseInCustomerDeposits
-7288000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
7784000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2502000
us-gaap Interest Expense
InterestExpense
403000
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
21265000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
13063000
us-gaap Interest Paid Net
InterestPaidNet
379000
us-gaap Marketing Expense
MarketingExpense
4952000
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: 8pt; 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: 3pt; LETTER-SPACING: normal; TEXT-INDENT: 8%; 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;Company&#x201D; or &#x201C;GCE&#x201D;) is a comprehensive regionally accredited university that offers over 230 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-oriented, 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 Company is accredited by The Higher Learning Commission (&#x201C;HLC&#x201D;). The Company&#x2019;s wholly-owned subsidiaries are primarily used to facilitate expansion of the university campus. On July&#xA0;1, 2018 the Company consummated a transaction that impacted the nature of our business. See Note 3 to our consolidated financial statements for a full description of this transaction (the &#x201C;Transaction&#x201D;).</p> </div>
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-67435000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14728000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
143662000
us-gaap Net Income Loss
NetIncomeLoss
119719000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
252000
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
83000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-1018000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-196000
us-gaap Operating Income Loss
OperatingIncomeLoss
148580000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
113000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
38000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
78836000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
32996000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1768000
us-gaap Profit Loss
ProfitLoss
119719000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
8669000
us-gaap Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
3433000
us-gaap Restricted Cash And Cash Equivalent Item Agreement
RestrictedCashAndCashEquivalentItemAgreement
60 to 90 days
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
512499000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
613675000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1768000
dei Trading Symbol
TradingSymbol
LOPE
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
112000 shares
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
-4790000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48422000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47537000 shares
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1539000
us-gaap Use Of Estimates
UseOfEstimates
<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: 0pt; 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><i>Use of Estimates</i></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: 4pt; LETTER-SPACING: normal; TEXT-INDENT: 8%; font-variant-ligatures: normal; font-variant-caps: normal; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial"> The preparation of consolidated 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>
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
885000 shares
lope Purchase Of Land Related To Offsite Development
PurchaseOfLandRelatedToOffsiteDevelopment
330000
lope Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-189000
lope Reduction In Revenue Due To Scholarships Offered To Students
ReductionInRevenueDueToScholarshipsOfferedToStudents
101176000
lope Instructional Costs And Services
InstructionalCostsAndServices
213264000
lope Purchases Of Property And Equipment Included In Accounts Payable
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayable
14361000
lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
69108000
lope Interest And Other Income Expense Nonoperating
InterestAndOtherIncomeExpenseNonoperating
2548000
lope Reclassification Of Capitalized Costs Due To Adoption Of Asc606
ReclassificationOfCapitalizedCostsDueToAdoptionOfASC606
9015000
lope Reclassification Of Deferred Revenue Due To Adoption Of Asc606
ReclassificationOfDeferredRevenueDueToAdoptionOfASC606
7451000
lope Real Estate Property Description
RealEstatePropertyDescription
275 acre campus
lope Number Of Colleges
NumberOfColleges
9 Colleges
lope Period For Write Off Inactive Student Accounts
PeriodForWriteOffInactiveStudentAccounts
P150D
lope Period Of Base Interest Rate
PeriodOfBaseInterestRate
P30D
lope Comprehensive Review Period
ComprehensiveReviewPeriod
P10Y
lope Mid Term Report Period
MidTermReportPeriod
P4Y
CY2018Q2 us-gaap Advertising Expense
AdvertisingExpense
27602000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
46205000
CY2018Q2 us-gaap Costs And Expenses
CostsAndExpenses
178330000
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.95
lope Number Of Degree Programs Offered
NumberOfDegreeProgramsOffered
275 Degrees
lope Reclassification Of Restricted Cash To Assets Held For Sale
ReclassificationOfRestrictedCashToAssetsHeldForSale
87875000
lope Reclassification Of Tax Effect Within Accumulated Other Comprehensive Income
ReclassificationOfTaxEffectWithinAccumulatedOtherComprehensiveIncome
156000
CY2017Q2 us-gaap Advertising Expense
AdvertisingExpense
24776000
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
39761000
CY2017Q2 us-gaap Costs And Expenses
CostsAndExpenses
163213000
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.83
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10058000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
55332000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15485000
CY2017Q2 us-gaap Interest Expense
InterestExpense
495000
CY2017Q2 us-gaap Marketing Expense
MarketingExpense
2264000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
39847000
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-69000
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
42000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
55088000
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-17000
CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
10000
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
218301000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48192000 shares
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47151000 shares
CY2017Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1041000 shares
CY2017Q2 lope Instructional Costs And Services
InstructionalCostsAndServices
95030000
CY2017Q2 lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
31085000
CY2017Q2 lope Interest And Other Income Expense Nonoperating
InterestAndOtherIncomeExpenseNonoperating
739000
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.97
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11969000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
59998000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13960000
CY2018Q2 us-gaap Interest Expense
InterestExpense
57000
CY2018Q2 us-gaap Marketing Expense
MarketingExpense
2268000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
46038000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
78000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
26000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
58488000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
89000
CY2018Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
30000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
236818000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48411000 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47604000 shares
CY2018Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
807000 shares
CY2018Q2 lope Instructional Costs And Services
InstructionalCostsAndServices
102237000
CY2018Q2 lope Admissions Advisory And Related Expenses
AdmissionsAdvisoryAndRelatedExpenses
34254000
CY2018Q2 lope Interest And Other Income Expense Nonoperating
InterestAndOtherIncomeExpenseNonoperating
1567000

Files In Submission

Name View Source Status
0001193125-18-242733-index-headers.html Edgar Link pending
0001193125-18-242733-index.html Edgar Link pending
0001193125-18-242733.txt Edgar Link pending
0001193125-18-242733-xbrl.zip Edgar Link pending
d580760d10q.htm Edgar Link pending
d580760dex311.htm Edgar Link pending
d580760dex312.htm Edgar Link pending
d580760dex321.htm Edgar Link pending
d580760dex322.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lope-20180630.xml Edgar Link completed
lope-20180630.xsd Edgar Link pending
lope-20180630_cal.xml Edgar Link unprocessable
lope-20180630_def.xml Edgar Link unprocessable
lope-20180630_lab.xml Edgar Link unprocessable
lope-20180630_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending