2013 Q2 Form 10-Q Financial Statement
#000119312513201698 Filed on May 06, 2013
Income Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
Revenue | $212.6M | $228.7M | $383.7M |
YoY Change | -38.03% | -40.41% | -27.27% |
Cost Of Revenue | $89.50M | $96.60M | $150.7M |
YoY Change | -16.36% | -35.9% | -9.0% |
Gross Profit | $166.7M | $180.7M | $280.6M |
YoY Change | -13.72% | -35.6% | -23.35% |
Gross Profit Margin | 78.42% | 79.03% | 73.13% |
Selling, General & Admin | $194.0M | $183.9M | $213.0M |
YoY Change | -6.01% | -13.66% | -10.16% |
% of Gross Profit | 116.38% | 101.77% | 75.91% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $18.90M | $19.30M | $20.11M |
YoY Change | -5.5% | -4.03% | -1.44% |
% of Gross Profit | 11.34% | 10.68% | 7.17% |
Operating Expenses | $209.6M | $200.3M | $232.7M |
YoY Change | -6.22% | -13.92% | -9.53% |
Operating Profit | -$30.28M | -$5.570M | $34.95M |
YoY Change | -69.98% | -115.94% | -67.95% |
Interest Expense | $212.0K | $706.0K | $37.00K |
YoY Change | 657.14% | 1808.11% | -81.5% |
% of Operating Profit | 0.11% | ||
Other Income/Expense, Net | $360.0K | -$7.166M | $233.0K |
YoY Change | -1.37% | -3175.54% | -87.06% |
Pretax Income | -$49.36M | -$27.64M | $35.84M |
YoY Change | -51.33% | -177.12% | -67.69% |
Income Tax | -$26.53M | -$12.40M | $6.430M |
% Of Pretax Income | 17.94% | ||
Net Earnings | -$31.39M | -$15.20M | $52.08M |
YoY Change | -68.68% | -129.19% | -28.7% |
Net Earnings / Revenue | -14.77% | -6.65% | 13.57% |
Basic Earnings Per Share | -$0.23 | $0.78 | |
Diluted Earnings Per Share | -$464.5K | -$0.23 | $0.78 |
COMMON SHARES | |||
Basic Shares Outstanding | 67.05M shares | 66.43M shares | 66.84M shares |
Diluted Shares Outstanding | 66.43M shares | 66.96M shares |
Balance Sheet
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $229.9M | $287.8M | $389.9M |
YoY Change | -37.85% | -26.19% | -2.31% |
Cash & Equivalents | $63.73M | $109.4M | $125.9M |
Short-Term Investments | $63.90M | $64.00M | $160.5M |
Other Short-Term Assets | $7.245M | $6.845M | $99.60M |
YoY Change | 17.25% | -93.13% | 6.87% |
Inventory | $7.690M | $7.500M | $9.800M |
Prepaid Expenses | $96.44M | $57.71M | |
Receivables | $53.52M | $50.42M | $62.00M |
Other Receivables | $40.50M | $4.400M | $19.70M |
Total Short-Term Assets | $458.0M | $436.9M | $581.0M |
YoY Change | -13.79% | -24.8% | 1.7% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $246.0M | $259.1M | $341.8M |
YoY Change | -24.83% | -24.19% | -4.98% |
Goodwill | $132.4M | $131.7M | |
YoY Change | 1.15% | ||
Intangibles | $56.90M | $61.13M | |
YoY Change | -23.77% | ||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $28.15M | $32.32M | $57.30M |
YoY Change | -30.05% | -43.59% | 2.87% |
Total Long-Term Assets | $536.2M | $557.7M | $698.3M |
YoY Change | -11.79% | -20.13% | -24.75% |
TOTAL ASSETS | |||
Total Short-Term Assets | $458.0M | $436.9M | $581.0M |
Total Long-Term Assets | $536.2M | $557.7M | $698.3M |
Total Assets | $994.2M | $994.6M | $1.279B |
YoY Change | -12.72% | -22.25% | -14.67% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $31.86M | $42.60M | $34.20M |
YoY Change | -16.98% | 24.56% | -17.59% |
Accrued Expenses | $129.9M | $87.30M | $100.5M |
YoY Change | 41.04% | -13.13% | -14.76% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | $100.0K | $400.0K |
YoY Change | -100.0% | -75.0% | -55.56% |
Total Short-Term Liabilities | $278.9M | $246.7M | $293.3M |
YoY Change | 3.22% | -15.9% | -25.06% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $100.0K |
YoY Change | -100.0% | -83.33% | |
Other Long-Term Liabilities | $29.33M | $30.06M | $176.8M |
YoY Change | -20.4% | -83.0% | -2.32% |
Total Long-Term Liabilities | $145.6M | $151.5M | $176.9M |
YoY Change | -12.55% | -14.36% | -2.59% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $278.9M | $246.7M | $293.3M |
Total Long-Term Liabilities | $145.6M | $151.5M | $176.9M |
Total Liabilities | $424.4M | $398.2M | $470.2M |
YoY Change | -2.8% | -15.32% | -17.94% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $186.3M | $217.7M | |
YoY Change | -43.1% | ||
Common Stock | $818.0K | $818.0K | |
YoY Change | 0.12% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $214.5M | $214.4M | |
YoY Change | 0.24% | ||
Treasury Stock Shares | 14.72M shares | 14.70M shares | |
Shareholders Equity | $569.7M | $596.5M | $809.1M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $994.2M | $994.6M | $1.279B |
YoY Change | -12.72% | -22.25% | -14.67% |
Cashflow Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$31.39M | -$15.20M | $52.08M |
YoY Change | -68.68% | -129.19% | -28.7% |
Depreciation, Depletion And Amortization | $18.90M | $19.30M | $20.11M |
YoY Change | -5.5% | -4.03% | -1.44% |
Cash From Operating Activities | -$52.80M | -$14.20M | $17.35M |
YoY Change | 6500.0% | -181.82% | -70.93% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$5.900M | $4.077M | $12.30M |
YoY Change | -23.38% | -66.86% | -151.69% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$600.0K | $1.000K | $12.00K |
YoY Change | -80.65% | -91.67% | -99.37% |
Cash From Investing Activities | -$6.500M | -$6.100M | -$12.18M |
YoY Change | -39.81% | -49.91% | -44.14% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $304.0K | $55.95M | |
YoY Change | -99.46% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -400.0K | 6.700M | -60.06M |
YoY Change | -81.82% | -111.16% | -32.6% |
NET CHANGE | |||
Cash From Operating Activities | -52.80M | -14.20M | 17.35M |
Cash From Investing Activities | -6.500M | -6.100M | -12.18M |
Cash From Financing Activities | -400.0K | 6.700M | -60.06M |
Net Change In Cash | -59.70M | -13.60M | -54.88M |
YoY Change | 332.61% | -75.22% | 7.19% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$52.80M | -$14.20M | $17.35M |
Capital Expenditures | -$5.900M | $4.077M | $12.30M |
Free Cash Flow | -$46.90M | -$18.27M | $5.049M |
YoY Change | -779.71% | -461.93% | -93.95% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2013Q1 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
71802000 | |
CY2013Q2 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
67046173 | shares |
CY2012Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
58631000 | |
CY2012Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
229388000 | |
CY2012Q1 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligations
|
43644000 | |
CY2013Q1 | us-gaap |
Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
|
6652000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
28.66 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Other Noncurrent Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentLiabilities
|
196000 | |
CY2013Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
6595000 | |
CY2013Q1 | us-gaap |
Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
|
11408000 | |
CY2013Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
14702475 | shares |
CY2013Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
CY2013Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
6845000 | |
CY2013Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
41806000 | |
CY2013Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
46124000 | |
CY2013Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
299175000 | |
CY2013Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2013Q1 | us-gaap |
Other Assets Held For Sale Current
OtherAssetsHeldForSaleCurrent
|
0 | |
CY2013Q1 | us-gaap |
Available For Sale Securities Gross Unrealized Losses1
AvailableForSaleSecuritiesGrossUnrealizedLosses1
|
473000 | |
CY2013Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-6527000 | |
CY2013Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
246657000 | |
CY2013Q1 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
|
22359000 | |
CY2013Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
83718000 | |
CY2013Q1 | us-gaap |
Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
|
48128000 | |
CY2013Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
217718000 | |
CY2013Q1 | us-gaap |
Assets
Assets
|
994624000 | |
CY2013Q1 | us-gaap |
Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
|
4000 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
223816000 | |
CY2013Q1 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Noncurrent
AssetsOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
|
18643000 | |
CY2013Q1 | us-gaap |
Short Term Investments
ShortTermInvestments
|
63951000 | |
CY2013Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
10000000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Other Noncurrent Assets
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets
|
1389000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
20.16 | |
CY2013Q1 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
103982000 | |
CY2013Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
50420000 | |
CY2013Q1 | us-gaap |
Inventory Net
InventoryNet
|
7500000 | |
CY2013Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
31691000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3380000 | shares |
CY2013Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
32324000 | |
CY2013Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
11408000 | |
CY2013Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
57710000 | |
CY2013Q1 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
5800000 | |
CY2013Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
994624000 | |
CY2013Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
81751897 | shares |
CY2013Q1 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
|
28178000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1142000 | shares |
CY2013Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
818000 | |
CY2013Q1 | us-gaap |
Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
|
93260000 | |
CY2013Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Accounts Payable
DisposalGroupIncludingDiscontinuedOperationAccountsPayable
|
17000 | |
CY2013Q1 | us-gaap |
Goodwill
Goodwill
|
131725000 | |
CY2013Q1 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
12306000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2111000 | shares |
CY2013Q1 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
151495000 | |
CY2013Q1 | us-gaap |
Accrued Advertising Current
AccruedAdvertisingCurrent
|
20634000 | |
CY2013Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
|
10115000 | |
CY2013Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
61127000 | |
CY2013Q1 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
7382000 | |
CY2013Q1 | us-gaap |
Cash
Cash
|
119834000 | |
CY2013Q1 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
7125000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Property Plant And Equipment Net
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNet
|
1000 | |
CY2013Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2013Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
214440000 | |
CY2013Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2013Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2013Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
259121000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
|
15000 | |
CY2013Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
67049422 | shares |
CY2013Q1 | us-gaap |
Assets Current
AssetsCurrent
|
436904000 | |
CY2013Q1 | us-gaap |
Other Receivables
OtherReceivables
|
4413000 | |
CY2013Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
598903000 | |
CY2013Q1 | us-gaap |
Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
|
12600000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
|
251000 | |
CY2013Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
41171000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
|
323000 | |
CY2013Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2013Q1 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
|
40484000 | |
CY2013Q1 | us-gaap |
Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
|
71333000 | |
CY2013Q1 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
3200000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Deferred Tax Assets
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssets
|
17253000 | |
CY2013Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
596472000 | |
CY2013Q1 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
3716000 | |
CY2013Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
30057000 | |
CY2013Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
42601000 | |
CY2013Q1 | ceco |
Disposal Group Including Discontinued Operation Deferred Income Tax Assets Current
DisposalGroupIncludingDiscontinuedOperationDeferredIncomeTaxAssetsCurrent
|
3450000 | |
CY2013Q1 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligations
|
39948000 | |
CY2013Q1 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations Current
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsCurrent
|
11966000 | |
CY2013Q1 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations Noncurrent
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsNoncurrent
|
27982000 | |
CY2013Q1 | ceco |
Number Of Campuses
NumberOfCampuses
|
90 | Campus |
CY2013Q1 | ceco |
Number Of Student Plaintiffs
NumberOfStudentPlaintiffs
|
1000 | Plaintiff |
CY2013Q1 | ceco |
Population Of Students
PopulationOfStudents
|
75000 | Student |
CY2013Q1 | ceco |
Number Of Shares To Reduce Shares Available To Grant By Upon Vesting Of Restricted Stock Units And Exercise Of Stock Options
NumberOfSharesToReduceSharesAvailableToGrantByUponVestingOfRestrictedStockUnitsAndExerciseOfStockOptions
|
4200000 | shares |
CY2013Q1 | ceco |
Termination Notice Period
TerminationNoticePeriod
|
P5D | |
CY2013Q1 | ceco |
Expected Remaining Lease Obligations
ExpectedRemainingLeaseObligations
|
78000000 | |
CY2013Q1 | ceco |
Short Term Borrowings And Current Maturities Of Capital Lease Obligations
ShortTermBorrowingsAndCurrentMaturitiesOfCapitalLeaseObligations
|
103000 | |
CY2013Q1 | ceco |
Number Of Individuals Who Previously Opted Out
NumberOfIndividualsWhoPreviouslyOptedOut
|
78 | Person |
CY2013Q1 | ceco |
Severance Accrual Long Term Portion
SeveranceAccrualLongTermPortion
|
2000000 | |
CY2013Q1 | ceco |
Prepayment Notice Period
PrepaymentNoticePeriod
|
P3D | |
CY2013Q1 | ceco |
Retention Bonuses Accrued In Association With Restructuring
RetentionBonusesAccruedInAssociationWithRestructuring
|
900000 | |
CY2013Q1 | ceco |
Required Collateral Percent For Borrowings
RequiredCollateralPercentForBorrowings
|
1.10 | pure |
CY2013Q1 | ceco |
Cash And Cash Equivalents At Carrying Value Including Restricted And Unrestricted Cash
CashAndCashEquivalentsAtCarryingValueIncludingRestrictedAndUnrestrictedCash
|
235224000 | |
CY2013Q1 | ceco |
Severance Accrual Short Term Portion Restructuring
SeveranceAccrualShortTermPortionRestructuring
|
4600000 | |
CY2013Q1 | ceco |
Cash And Cash Equivalents Related To Non Profit Schools
CashAndCashEquivalentsRelatedToNonProfitSchools
|
79800000 | |
CY2013Q1 | ceco |
Number Of Pro Per Plaintiffs
NumberOfProPerPlaintiffs
|
13 | Plaintiff |
CY2013Q1 | ceco |
Outstanding Liability On Restricted Stock Units To Be Settled In Cash
OutstandingLiabilityOnRestrictedStockUnitsToBeSettledInCash
|
100000 | |
CY2013Q1 | ceco |
Outstanding Liability On Performance Unit Awards To Be Settled In Cash
OutstandingLiabilityOnPerformanceUnitAwardsToBeSettledInCash
|
100000 | |
CY2013Q1 | ceco |
Amount Of Net Student Receivables Related To Extended Payment Plans And Recourse Loans
AmountOfNetStudentReceivablesRelatedToExtendedPaymentPlansAndRecourseLoans
|
6700000 | |
CY2011Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
63541000 | |
CY2011Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
280592000 | |
CY2011Q4 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligations
|
45961000 | |
CY2012Q1 | ceco |
Campus Number With Documentation Finding By Office Of Inspector General
CampusNumberWithDocumentationFindingByOfficeOfInspectorGeneral
|
1 | Findings |
CY2012Q1 | ceco |
Campus Number With Calculation Finding By Office Of Inspector General
CampusNumberWithCalculationFindingByOfficeOfInspectorGeneral
|
1 | Findings |
CY2012Q1 | ceco |
Number Of Oig Findings
NumberOfOigFindings
|
3 | Findings |
CY2012Q4 | us-gaap |
Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
|
6832000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Other Noncurrent Liabilities
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentLiabilities
|
96000 | |
CY2012Q4 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
10538000 | |
CY2012Q4 | us-gaap |
Restricted Cash And Investments Current
RestrictedCashAndInvestmentsCurrent
|
97878000 | |
CY2012Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
14547253 | shares |
CY2012Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
CY2012Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
4422000 | |
CY2012Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
47158000 | |
CY2012Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
46586000 | |
CY2012Q4 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
402313000 | |
CY2012Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2012Q4 | us-gaap |
Available For Sale Securities Gross Unrealized Losses1
AvailableForSaleSecuritiesGrossUnrealizedLosses1
|
475000 | |
CY2012Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-4785000 | |
CY2012Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
352715000 | |
CY2012Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
|
23072000 | |
CY2012Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
112018000 | |
CY2012Q4 | us-gaap |
Deferred Tax Assets Net Noncurrent
DeferredTaxAssetsNetNoncurrent
|
47900000 | |
CY2012Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
232921000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Other Current Assets
DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets
|
115000 | |
CY2012Q4 | us-gaap |
Assets
Assets
|
1122703000 | |
CY2012Q4 | us-gaap |
Availableforsale Securities Gross Unrealized Gain
AvailableforsaleSecuritiesGrossUnrealizedGain
|
4000 | |
CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
240559000 | |
CY2012Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Noncurrent
AssetsOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
|
18968000 | |
CY2012Q4 | us-gaap |
Short Term Investments
ShortTermInvestments
|
63876000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Other Noncurrent Assets
DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets
|
1553000 | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
25.96 | |
CY2012Q4 | us-gaap |
Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
|
103776000 | |
CY2012Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
68885000 | |
CY2012Q4 | us-gaap |
Inventory Net
InventoryNet
|
8514000 | |
CY2012Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
35176000 | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2592000 | shares |
CY2012Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
33331000 | |
CY2012Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
97878000 | |
CY2012Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
44386000 | |
CY2012Q4 | us-gaap |
Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
|
6500000 | |
CY2012Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
1122703000 | |
CY2012Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
81616987 | shares |
CY2012Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Noncurrent
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent
|
33199000 | |
CY2012Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
1998000 | shares |
CY2012Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
816000 | |
CY2012Q4 | us-gaap |
Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
|
95146000 | |
CY2012Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
shares | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Accounts Payable
DisposalGroupIncludingDiscontinuedOperationAccountsPayable
|
29000 | |
CY2012Q4 | us-gaap |
Goodwill
Goodwill
|
133025000 | |
CY2012Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
9888000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilities
|
665000 | |
CY2012Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2012Q4 | us-gaap |
Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
|
43087000 | |
CY2012Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
71729000 | |
CY2012Q4 | us-gaap |
Liabilities Noncurrent
LiabilitiesNoncurrent
|
158198000 | |
CY2012Q4 | us-gaap |
Accrued Advertising Current
AccruedAdvertisingCurrent
|
20963000 | |
CY2012Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable Noncurrent
AllowanceForDoubtfulAccountsReceivableNoncurrent
|
11982000 | |
CY2012Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
61670000 | |
CY2012Q4 | us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
|
7382000 | |
CY2012Q4 | us-gaap |
Cash
Cash
|
136783000 | |
CY2012Q4 | us-gaap |
Deferred Tax Assets Net Current
DeferredTaxAssetsNetCurrent
|
7092000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Property Plant And Equipment Net
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNet
|
162000 | |
CY2012Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
CY2012Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
213988000 | |
CY2012Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
shares | |
CY2012Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2012Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
277416000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Cash And Cash Equivalents
DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents
|
63000 | |
CY2012Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
67069734 | shares |
CY2012Q4 | us-gaap |
Assets Current
AssetsCurrent
|
543561000 | |
CY2012Q4 | us-gaap |
Other Receivables
OtherReceivables
|
3845000 | |
CY2012Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
596826000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
|
476000 | |
CY2012Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
44630000 | |
CY2012Q4 | us-gaap |
Available For Sale Securities Fair Value Disclosure
AvailableForSaleSecuritiesFairValueDisclosure
|
71258000 | |
CY2012Q4 | us-gaap |
Disposal Group Including Discontinued Operation Deferred Tax Assets
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssets
|
17253000 | |
CY2012Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
611790000 | |
CY2012Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
4104000 | |
CY2012Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
29853000 | |
CY2012Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
38419000 | |
CY2012Q4 | ceco |
Disposal Group Including Discontinued Operation Deferred Income Tax Assets Current
DisposalGroupIncludingDiscontinuedOperationDeferredIncomeTaxAssetsCurrent
|
3450000 | |
CY2012Q4 | ceco |
Disposal Group Including Discontinued Operation Deferred Tuition Revenue
DisposalGroupIncludingDiscontinuedOperationDeferredTuitionRevenue
|
20000 | |
CY2012Q4 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligations
|
42277000 | |
CY2012Q4 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations Current
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsCurrent
|
9174000 | |
CY2012Q4 | ceco |
Disposal Group Including Discontinued Operation Remaining Lease Obligations Noncurrent
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsNoncurrent
|
33103000 | |
CY2012Q4 | ceco |
Short Term Borrowings And Current Maturities Of Capital Lease Obligations
ShortTermBorrowingsAndCurrentMaturitiesOfCapitalLeaseObligations
|
80211000 | |
CY2012Q4 | ceco |
Severance Accrual Long Term Portion
SeveranceAccrualLongTermPortion
|
2700000 | |
CY2012Q4 | ceco |
Cash And Cash Equivalents At Carrying Value Including Restricted And Unrestricted Cash
CashAndCashEquivalentsAtCarryingValueIncludingRestrictedAndUnrestrictedCash
|
338437000 | |
CY2012Q4 | ceco |
Severance Accrual Short Term Portion Restructuring
SeveranceAccrualShortTermPortionRestructuring
|
7800000 | |
CY2012Q4 | ceco |
Cash And Cash Equivalents Related To Non Profit Schools
CashAndCashEquivalentsRelatedToNonProfitSchools
|
87200000 | |
CY2012Q4 | ceco |
Amount Of Net Student Receivables Related To Extended Payment Plans And Recourse Loans
AmountOfNetStudentReceivablesRelatedToExtendedPaymentPlansAndRecourseLoans
|
6800000 | |
CY2012 | us-gaap |
Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
|
700000 | |
CY2013Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
255000 | |
CY2013Q1 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
100000 | shares |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
||
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
-34105000 | |
CY2013Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2013Q1 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2013 | |
CY2013Q1 | dei |
Document Type
DocumentType
|
10-Q | |
CY2013Q1 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2013-03-31 | |
CY2013Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001046568 | |
CY2013Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2013Q1 | dei |
Trading Symbol
TradingSymbol
|
CECO | |
CY2013Q1 | dei |
Entity Registrant Name
EntityRegistrantName
|
CAREER EDUCATION CORP | |
CY2013Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2013Q1 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
CY2013Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-466000 | |
CY2013Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
157000 | |
CY2013Q1 | us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
80000000 | |
CY2013Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
shares | |
CY2013Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
19295000 | |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
8375000 | |
CY2013Q1 | us-gaap |
Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
|
-74000 | |
CY2013Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
-0.01 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-6100000 | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
66428000 | shares |
CY2013Q1 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
7 | Segment |
CY2013Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
33729000 | |
CY2013Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
-0.01 | |
CY2013Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.437 | pure |
CY2013Q1 | us-gaap |
Other Sales Revenue Net
OtherSalesRevenueNet
|
5198000 | |
CY2013Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
|
13465000 | |
CY2013Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-18101000 | |
CY2013Q1 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-1126000 | |
CY2013Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-1743000 | |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-25730000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P3Y | |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-14491000 | |
CY2013Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1775000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
2.72 | |
CY2013Q1 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.078 | pure |
CY2013Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
6673000 | |
CY2013Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
19125000 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-16791000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
6.21 | |
CY2013Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.23 | |
CY2013Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <p style="MARGIN-TOP: 12px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1. DESCRIPTION OF THE COMPANY</b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">The colleges, schools and universities that are part of the Career Education Corporation (“CEC”) family offer high-quality education to a diverse student population of approximately 75,000 students across the world in a variety of career-oriented disciplines through online, on-ground and hybrid learning program offerings. The more than 90 campuses that serve these students are located throughout the United States, and in France and Monaco, and offer doctoral, master’s, bachelor’s and associate degrees and diploma and certificate programs.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">We are an industry leader whose institutions are recognized globally. Those institutions include, among others, American InterContinental University (“AIU”); Brooks Institute; Colorado Technical University (“CTU”); Harrington College of Design; INSEEC Group (“INSEEC”) Schools; International University of Monaco (“IUM”); International Academy of Design & Technology (“IADT”); Le Cordon Bleu North America (“LCB”); and Sanford-Brown Institutes and Colleges. Through our schools, we are committed to providing high-quality education, enabling students to graduate and pursue rewarding career opportunities.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">For more information, see our website at <i>www.careered.com</i>. The website includes a detailed listing of individual campus locations and web links to our colleges, schools and universities.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">As used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” “the Company” and “CEC” refer to Career Education Corporation and our wholly-owned subsidiaries. The terms “school” and “university” refer to an individual, branded, proprietary educational institution, owned by us and includes its campus locations. The term “campus” refers to an individual main or branch campus operated by one of our schools or universities.</font></p> </div> | |
CY2013Q1 | us-gaap |
Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
|
2014-01-31 | |
CY2013Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15203000 | |
CY2013Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-7629000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
|
890000 | shares |
CY2013Q1 | us-gaap |
Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
|
2000000 | |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.22 | |
CY2013Q1 | us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
80000000 | |
CY2013Q1 | us-gaap |
Restructuring Charges
RestructuringCharges
|
391000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
69000 | shares |
CY2013Q1 | us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
13540000 | |
CY2013Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
1000 | |
CY2013Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-94000 | |
CY2013Q1 | us-gaap |
Proceeds From Recoveries Of Loan Previously Charged Off
ProceedsFromRecoveriesOfLoanPreviouslyChargedOff
|
2700000 | |
CY2013Q1 | us-gaap |
Interest Expense
InterestExpense
|
706000 | |
CY2013Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-1742000 | |
CY2013Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
358584000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
34.21 | |
CY2013Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.23 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
33000 | shares |
CY2013Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
206419000 | |
CY2013Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
66428000 | shares |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
6700000 | |
CY2013Q1 | us-gaap |
Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
|
4351000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
|
P4Y | |
CY2013Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-16945000 | |
CY2013Q1 | us-gaap |
Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
|
17000 | |
CY2013Q1 | us-gaap |
Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
|
27000 | |
CY2013Q1 | us-gaap |
Proceeds From Repayments Of Restricted Cash Financing Activities
ProceedsFromRepaymentsOfRestrictedCashFinancingActivities
|
86470000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
446000 | shares |
CY2013Q1 | us-gaap |
Revenues
Revenues
|
340483000 | |
CY2013Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-11239000 | |
CY2013Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-3194000 | |
CY2013Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
1000 | |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
453000 | shares |
CY2013Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
43000 | shares |
CY2013Q1 | us-gaap |
Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss Included In Investment Income
FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInInvestmentIncome
|
||
CY2013Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
4077000 | |
CY2013Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
304000 | |
CY2013Q1 | us-gaap |
Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
|
-6712000 | |
CY2013Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-14197000 | |
CY2013Q1 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
-414000 | |
CY2013Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.22 | |
CY2013Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
-712000 | |
CY2013Q1 | ceco |
Lease Expiration Year
LeaseExpirationYear
|
2019 | |
CY2013Q1 | ceco |
Student Receivables Written Off Period
StudentReceivablesWrittenOffPeriod
|
Greater than 90 days | |
CY2013Q1 | ceco |
Estimated Pretax Compensation Expenses Expiration In Years
EstimatedPretaxCompensationExpensesExpirationInYears
|
P4Y | |
CY2013Q1 | ceco |
Years Ars Auction Events Have Been Failing
YearsArsAuctionEventsHaveBeenFailing
|
3 | Y |
CY2013Q1 | ceco |
Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
|
132883000 | |
CY2013Q1 | ceco |
Cumulative Translation Gain Loss Recognized Upon Sale Of Business
CumulativeTranslationGainLossRecognizedUponSaleOfBusiness
|
3300000 | |
CY2013Q1 | ceco |
Provision For Doubtful Accounts Including Discontinued Operations
ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations
|
6702000 | |
CY2013Q1 | ceco |
Remaining Lease Obligations Incurred
RemainingLeaseObligationsIncurred
|
-302000 | |
CY2013Q1 | ceco |
Remaining Lease Obligations Net Cash Payments
RemainingLeaseObligationsNetCashPayments
|
2016000 | |
CY2013Q1 | ceco |
Remaining Lease Obligations Other
RemainingLeaseObligationsOther
|
11000 | |
CY2013Q1 | ceco |
Revenue From Tuition And Registration Fees
RevenueFromTuitionAndRegistrationFees
|
335285000 | |
CY2013Q1 | ceco |
Short Term Investment Continuous Unrealized Loss Position Period
ShortTermInvestmentContinuousUnrealizedLossPositionPeriod
|
P1Y | |
CY2013Q1 | ceco |
Number Of Plaintiffs Represented By Counsel
NumberOfPlaintiffsRepresentedByCounsel
|
80 | Plaintiff |
CY2013Q1 | ceco |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
12025000 | |
CY2013Q1 | ceco |
Long Term Investment Continuous Unrealized Loss Position Period
LongTermInvestmentContinuousUnrealizedLossPositionPeriod
|
P1Y | |
CY2013Q1 | ceco |
Restricted Stock Units To Be Settled In Cash Exercisable In Percentage
RestrictedStockUnitsToBeSettledInCashExercisableInPercentage
|
0.25 | pure |
CY2013Q1 | ceco |
Restricted Stock Units To Be Settled In Cash Fair Value
RestrictedStockUnitsToBeSettledInCashFairValue
|
6700000 | |
CY2013Q1 | ceco |
Performance Unit Awards To Be Settled In Cash Fair Value
PerformanceUnitAwardsToBeSettledInCashFairValue
|
5000000 | |
CY2013Q1 | ceco |
Income Tax Reconciliation Valuation Allowances Foreign Rate Differences And Non Profit
IncomeTaxReconciliationValuationAllowancesForeignRateDifferencesAndNonProfit
|
0.024 | pure |
CY2013Q1 | ceco |
Number Of Additional Pro Per Plaintiffs
NumberOfAdditionalProPerPlaintiffs
|
2 | Plaintiff |
CY2013Q1 | ceco |
Number Of Pro Per Plaintiffs Appears In Court
NumberOfProPerPlaintiffsAppearsInCourt
|
2 | Plaintiff |
CY2013Q1 | ceco |
Number Of Pro Per Plaintiffs Currently Involved In Action
NumberOfProPerPlaintiffsCurrentlyInvolvedInAction
|
4 | Plaintiff |
CY2013Q1 | ceco |
Number Of Plaintiffs For Test Case Minimum
NumberOfPlaintiffsForTestCaseMinimum
|
8 | Plaintiff |
CY2013Q1 | ceco |
Number Of Plaintiffs For Test Case Maximum
NumberOfPlaintiffsForTestCaseMaximum
|
10 | Plaintiff |
CY2013Q1 | ceco |
Payment For Sales Of Business Affiliates And Productive Assets
PaymentForSalesOfBusinessAffiliatesAndProductiveAssets
|
1947000 | |
CY2012Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
83000 | |
CY2012Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
20106000 | |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
|
12253000 | |
CY2012Q1 | us-gaap |
Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
|
-547000 | |
CY2012Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
|
0.16 | |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-12177000 | |
CY2012Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
270000 | |
CY2012Q1 | us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
100000 | shares |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
|
35836000 | |
CY2012Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
66844000 | shares |
CY2012Q1 | us-gaap |
Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
|
67115000 | |
CY2012Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
|
0.16 | |
CY2012Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.134 | pure |
CY2012Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
5440000 | |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
48089000 | |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
41659000 | |
CY2012Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2780000 | |
CY2012Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
8970000 | |
CY2012Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
19713000 | |
CY2012Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-51204000 | |
CY2012Q1 | us-gaap |
Other Sales Revenue Net
OtherSalesRevenueNet
|
10479000 | |
CY2012Q1 | us-gaap |
Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
|
40438000 | |
CY2012Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
47856000 | |
CY2012Q1 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
|
-1836000 | |
CY2012Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.78 | |
CY2012Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
52076000 | |
CY2012Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
233000 | |
CY2012Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
383508000 | |
CY2012Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.78 | |
CY2012Q1 | us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
56431000 | |
CY2012Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
212973000 | |
CY2012Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
66960000 | shares |
CY2012Q1 | us-gaap |
Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
|
3555000 | |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-60056000 | |
CY2012Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
57504000 | |
CY2012Q1 | us-gaap |
Disposal Group Including Discontinued Operation Revenue
DisposalGroupIncludingDiscontinuedOperationRevenue
|
2778000 | |
CY2012Q1 | us-gaap |
Revenues
Revenues
|
431364000 | |
CY2012Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
6430000 | |
CY2012Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
3677000 | |
CY2012Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-12000 | |
CY2012Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
12303000 | |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
0.62 | |
CY2012Q1 | us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
40300000 | |
CY2012Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
12000 | |
CY2012Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-32000 | |
CY2012Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4200000 | shares |
CY2012Q1 | us-gaap |
Proceeds From Recoveries Of Loan Previously Charged Off
ProceedsFromRecoveriesOfLoanPreviouslyChargedOff
|
2800000 | |
CY2012Q1 | us-gaap |
Interest Expense
InterestExpense
|
37000 | |
CY2012Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
5428000 | |
CY2012Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
477000 | |
CY2012Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
17352000 | |
CY2012Q1 | us-gaap |
Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
|
-12253000 | |
CY2012Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
0.62 | |
CY2012Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
|
10417000 | |
CY2012Q1 | ceco |
Educational Services And Facilities Expense
EducationalServicesAndFacilitiesExpense
|
150739000 | |
CY2012Q1 | ceco |
Provision For Doubtful Accounts Including Discontinued Operations
ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations
|
9390000 | |
CY2012Q1 | ceco |
Remaining Lease Obligations Incurred
RemainingLeaseObligationsIncurred
|
295000 | |
CY2012Q1 | ceco |
Remaining Lease Obligations Net Cash Payments
RemainingLeaseObligationsNetCashPayments
|
2612000 | |
CY2012Q1 | ceco |
Revenue From Tuition And Registration Fees
RevenueFromTuitionAndRegistrationFees
|
420885000 | |
CY2012Q1 | ceco |
Common Stock Equivalents
CommonStockEquivalents
|
116000 | shares |
CY2012Q1 | ceco |
Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
|
13880000 |