$PRDO
PERDOCEO EDUCATION Corp Stock $prdo

$prdo Overview Financials Valuation SEC Filings Company Website

2014 Q2 Form 10-Q Financial Statement

#000119312514188828 Filed on May 08, 2014

Income Statement

Concept	2014 Q2	2014 Q1	2013 Q1
Revenue	$228.7M	$240.4M	$228.7M
YoY Change	7.6%	5.14%	-40.41%
Cost Of Revenue	$59.00M	$61.60M	$96.60M
YoY Change	-34.08%	-36.23%	-35.9%
Gross Profit	$127.2M	$136.5M	$180.7M
YoY Change	-23.7%	-24.46%	-35.6%
Gross Profit Margin	55.61%	56.78%	79.03%
Selling, General & Admin	$129.1M	$148.4M	$183.9M
YoY Change	-33.45%	-19.3%	-13.66%
% of Gross Profit	101.49%	108.72%	101.77%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$14.40M	$15.43M	$19.30M
YoY Change	-23.81%	-20.03%	-4.03%
% of Gross Profit	11.32%	11.3%	10.68%
Operating Expenses	$138.4M	$158.4M	$200.3M
YoY Change	-33.97%	-20.92%	-13.92%
Operating Profit	-$31.02M	-$40.00M	-$5.570M
YoY Change	2.46%	618.04%	-115.94%
Interest Expense	$108.0K	$81.00K	$706.0K
YoY Change	-49.06%	-88.53%	1808.11%
% of Operating Profit
Other Income/Expense, Net	-$413.0K	$507.0K	-$7.166M
YoY Change	-214.72%	-107.08%	-3175.54%
Pretax Income	-$33.75M	-$47.23M	-$27.64M
YoY Change	-31.64%	70.87%	-177.12%
Income Tax	$1.854M	$220.0K	-$12.40M
% Of Pretax Income
Net Earnings	-$46.56M	-$58.14M	-$15.20M
YoY Change	48.34%	282.44%	-129.19%
Net Earnings / Revenue	-20.36%	-24.19%	-6.65%
Basic Earnings Per Share			-$0.23
Diluted Earnings Per Share	-$693.5K	-$867.2K	-$0.23
COMMON SHARES
Basic Shares Outstanding	67.22M shares	67.15M shares	66.43M shares
Diluted Shares Outstanding			66.43M shares

Balance Sheet

Concept	2014 Q2	2014 Q1	2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$262.7M	$302.5M	$287.8M
YoY Change	14.27%	5.11%	-26.19%
Cash & Equivalents	$138.6M	$263.5M	$109.4M
Short-Term Investments	$124.1M	$38.30M	$64.00M
Other Short-Term Assets	$3.884M	$4.492M	$6.845M
YoY Change	-46.39%	-34.38%	-93.13%
Inventory	$6.040M	$6.329M	$7.500M
Prepaid Expenses	$25.29M	$20.33M	$57.71M
Receivables	$31.28M	$31.58M	$50.42M
Other Receivables	$9.700M	$18.30M	$4.400M
Total Short-Term Assets	$355.0M	$400.7M	$436.9M
YoY Change	-22.48%	-8.3%	-24.8%
LONG-TERM ASSETS
Property, Plant & Equipment	$159.1M	$170.6M	$259.1M
YoY Change	-35.33%	-34.17%	-24.19%
Goodwill	$87.36M	$87.36M	$131.7M
YoY Change	-34.02%	-33.68%
Intangibles	$32.25M	$39.85M	$61.13M
YoY Change	-43.31%	-34.81%
Long-Term Investments
YoY Change
Other Assets	$17.43M	$26.26M	$32.32M
YoY Change	-38.09%	-18.77%	-43.59%
Total Long-Term Assets	$312.4M	$340.8M	$557.7M
YoY Change	-41.73%	-38.89%	-20.13%
TOTAL ASSETS
Total Short-Term Assets	$355.0M	$400.7M	$436.9M
Total Long-Term Assets	$312.4M	$340.8M	$557.7M
Total Assets	$667.5M	$741.5M	$994.6M
YoY Change	-32.86%	-25.45%	-22.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$25.50M	$29.64M	$42.60M
YoY Change	-19.98%	-30.42%	24.56%
Accrued Expenses	$60.40M	$82.20M	$87.30M
YoY Change	-53.5%	-5.84%	-13.13%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due			$100.0K
YoY Change			-75.0%
Total Short-Term Liabilities	$184.3M	$205.4M	$246.7M
YoY Change	-33.89%	-16.71%	-15.9%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change			-100.0%
Other Long-Term Liabilities	$25.18M	$27.59M	$30.06M
YoY Change	-14.16%	-8.2%	-83.0%
Total Long-Term Liabilities	$130.5M	$137.9M	$151.5M
YoY Change	-10.36%	-8.96%	-14.36%
TOTAL LIABILITIES
Total Short-Term Liabilities	$184.3M	$205.4M	$246.7M
Total Long-Term Liabilities	$130.5M	$137.9M	$151.5M
Total Liabilities	$314.9M	$343.4M	$398.2M
YoY Change	-25.82%	-13.76%	-15.32%
SHAREHOLDERS EQUITY
Retained Earnings	-$36.05M	$10.52M	$217.7M
YoY Change	-119.35%	-95.17%
Common Stock	$821.0K	$820.0K	$818.0K
YoY Change	0.37%	0.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$215.2M	$215.1M	$214.4M
YoY Change	0.31%	0.31%
Treasury Stock Shares	14.82M shares	14.81M shares	14.70M shares
Shareholders Equity	$352.6M	$398.1M	$596.5M
YoY Change
Total Liabilities & Shareholders Equity	$667.5M	$741.5M	$994.6M
YoY Change	-32.86%	-25.45%	-22.25%

Cashflow Statement

Concept	2014 Q2	2014 Q1	2013 Q1
OPERATING ACTIVITIES
Net Income	-$46.56M	-$58.14M	-$15.20M
YoY Change	48.34%	282.44%	-129.19%
Depreciation, Depletion And Amortization	$14.40M	$15.43M	$19.30M
YoY Change	-23.81%	-20.03%	-4.03%
Cash From Operating Activities	-$45.90M	-$35.42M	-$14.20M
YoY Change	-13.07%	149.49%	-181.82%
INVESTING ACTIVITIES
Capital Expenditures	-$3.500M	$3.468M	$4.077M
YoY Change	-40.68%	-14.94%	-66.86%
Acquisitions
YoY Change
Other Investing Activities	-$77.60M	-$15.50M	$1.000K
YoY Change	12833.33%	-1550100.0%	-91.67%
Cash From Investing Activities	-$81.20M	-$18.96M	-$6.100M
YoY Change	1149.23%	210.79%	-49.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$196.0K	$304.0K
YoY Change		-35.53%	-99.46%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	1.200M	-188.0K	6.700M
YoY Change	-400.0%	-102.81%	-111.16%
NET CHANGE
Cash From Operating Activities	-45.90M	-35.42M	-14.20M
Cash From Investing Activities	-81.20M	-18.96M	-6.100M
Cash From Financing Activities	1.200M	-188.0K	6.700M
Net Change In Cash	-125.9M	-54.57M	-13.60M
YoY Change	110.89%	301.31%	-75.22%
FREE CASH FLOW
Cash From Operating Activities	-$45.90M	-$35.42M	-$14.20M
Capital Expenditures	-$3.500M	$3.468M	$4.077M
Free Cash Flow	-$42.40M	-$38.89M	-$18.27M
YoY Change	-9.59%	112.81%	-461.93%

Facts In Submission

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CY2013Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	68658000
CY2013Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	60914000
CY2013Q4	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	80496000
CY2013Q4	us-gaap	Common Stock Value CommonStockValue	819000
CY2013Q4	us-gaap	Liabilities Of Disposal Group Including Discontinued Operation Noncurrent LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationNoncurrent	34114000
CY2013Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	805045000
CY2013Q4	us-gaap	Loss Contingency Accrual At Carrying Value LossContingencyAccrualAtCarryingValue	20300000
CY2013Q4	us-gaap	Accrued Income Taxes Current AccruedIncomeTaxesCurrent	14994000
CY2013Q4	us-gaap	Allowance For Doubtful Accounts Receivable Noncurrent AllowanceForDoubtfulAccountsReceivableNoncurrent	6883000
CY2013Q4	us-gaap	Accrued Advertising Current AccruedAdvertisingCurrent	17599000
CY2013Q4	us-gaap	Liabilities Noncurrent LiabilitiesNoncurrent	142229000
CY2013Q4	us-gaap	Liabilities Of Disposal Group Including Discontinued Operation Current LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent	14055000
CY2013Q4	us-gaap	Disposal Group Including Discontinued Operation Cash And Cash Equivalents DisposalGroupIncludingDiscontinuedOperationCashAndCashEquivalents	182000
CY2013Q4	us-gaap	Goodwill Goodwill	87356000
CY2013Q4	us-gaap	Available For Sale Securities Amortized Cost AvailableForSaleSecuritiesAmortizedCost	39441000
CY2013Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	40117000
CY2013Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	17853000
CY2013Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	20218000
CY2013Q4	us-gaap	Assets Of Disposal Group Including Discontinued Operation AssetsOfDisposalGroupIncludingDiscontinuedOperation	3004000
CY2013Q4	us-gaap	Deferred Tax Assets Net Noncurrent DeferredTaxAssetsNetNoncurrent	10644000
CY2013Q4	us-gaap	Disposal Group Including Discontinued Operation Other Current Assets DisposalGroupIncludingDiscontinuedOperationOtherCurrentAssets	600000
CY2013Q4	us-gaap	Assets Assets	805045000
CY2013Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	318761000
CY2013Q4	us-gaap	Assets Of Disposal Group Including Discontinued Operation Noncurrent AssetsOfDisposalGroupIncludingDiscontinuedOperationNoncurrent	1854000
CY2013Q4	us-gaap	Disposal Group Including Discontinued Operation Other Noncurrent Assets DisposalGroupIncludingDiscontinuedOperationOtherNoncurrentAssets	1458000
CY2013Q4	us-gaap	Money Market Funds At Carrying Value MoneyMarketFundsAtCarryingValue	163005000
CY2013Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	34498000
CY2013Q4	us-gaap	Inventory Net InventoryNet	6723000
CY2013Q4	us-gaap	Assets Of Disposal Group Including Discontinued Operation Current AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent	1150000
CY2013Q4	us-gaap	Available For Sale Securities AvailableForSaleSecurities	38966000
CY2013Q4	us-gaap	Cash Cash Equivalents And Short Term Investments CashCashEquivalentsAndShortTermInvestments	362917000
CY2013Q4	us-gaap	Accounts Receivable Net Noncurrent AccountsReceivableNetNoncurrent	5204000
CY2013Q4	us-gaap	Restricted Cash And Investments Current RestrictedCashAndInvestmentsCurrent	12564000
CY2013Q4	us-gaap	Other Assets Current OtherAssetsCurrent	3468000
CY2013Q4	us-gaap	Other Receivables OtherReceivables	27437000
CY2013Q4	us-gaap	Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet	368000
CY2013Q4	us-gaap	Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue	7374000
CY2013Q4	us-gaap	Cash Cash	155756000
CY2013Q4	us-gaap	Deferred Tax Assets Net Current DeferredTaxAssetsNetCurrent	3606000
CY2013Q4	us-gaap	Disposal Group Including Discontinued Operation Property Plant And Equipment Net DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentNet	396000
CY2013Q4	us-gaap	Treasury Stock Value TreasuryStockValue	214494000
CY2013Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	182000000
CY2013Q4	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Noncurrent DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsNoncurrent	30852000
CY2013Q4	ceco	Amount Of Net Student Receivables Related To Extended Payment Plans And Recourse Loans AmountOfNetStudentReceivablesRelatedToExtendedPaymentPlansAndRecourseLoans	5200000
CY2013Q4	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Current DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsCurrent	13048000
CY2013Q4	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligations	43900000
CY2013Q4	ceco	Disposal Group Including Discontinued Operation Deferred Tuition Revenue DisposalGroupIncludingDiscontinuedOperationDeferredTuitionRevenue	217000
CY2013Q4	ceco	Cash And Cash Equivalents At Carrying Value Including Restricted And Unrestricted Cash CashAndCashEquivalentsAtCarryingValueIncludingRestrictedAndUnrestrictedCash	331325000
CY2013Q4	ceco	Available For Sale Securities Gross Unrealized Loss Accumulated In Investments AvailableForSaleSecuritiesGrossUnrealizedLossAccumulatedInInvestments	476000
CY2013Q4	ceco	Available For Sale Securities Gross Unrealized Gain Accumulated In Investments AvailableForSaleSecuritiesGrossUnrealizedGainAccumulatedInInvestments	1000
CY2013Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare	0.07
CY2013Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	-0.385	pure
CY2013Q1	us-gaap	Income Loss From Continuing Operations Per Basic And Diluted Share IncomeLossFromContinuingOperationsPerBasicAndDilutedShare	-0.30
CY2013Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	66428000	shares
CY2013Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-14197000
CY2013Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.23
CY2013Q1	us-gaap	Revenues Revenues	284450000
CY2013Q1	us-gaap	Disposal Group Including Discontinued Operation Revenue DisposalGroupIncludingDiscontinuedOperationRevenue	56060000
CY2013Q1	us-gaap	Restructuring Reserve Accrual Adjustment RestructuringReserveAccrualAdjustment	-73000
CY2013Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-16945000
CY2013Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-94000
CY2013Q1	us-gaap	Payments For Proceeds From Other Investing Activities PaymentsForProceedsFromOtherInvestingActivities	1000
CY2013Q1	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	13540000
CY2013Q1	us-gaap	Repayments Of Short Term Debt RepaymentsOfShortTermDebt	80000000
CY2013Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	4591000
CY2013Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Foreign IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign	-4558000
CY2013Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	7000
CY2013Q1	us-gaap	Increase Decrease In Operating Capital IncreaseDecreaseInOperatingCapital	33729000
CY2013Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	-27638000
CY2013Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	245000
CY2013Q1	us-gaap	Gain Loss On Sale Of Business GainLossOnSaleOfBusiness	-6712000
CY2013Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-1742000
CY2013Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-25030000
CY2013Q1	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	4540000
CY2013Q1	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-19794000
CY2013Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-32196000
CY2013Q1	us-gaap	Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax	-1743000
CY2013Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	-7166000
CY2013Q1	us-gaap	Net Income Loss NetIncomeLoss	-15203000
CY2013Q1	us-gaap	Discontinued Operation Income Loss From Discontinued Operation Before Income Tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax	5340000
CY2013Q1	us-gaap	Payments For Restructuring PaymentsForRestructuring	4060000
CY2013Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	4077000
CY2013Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	1000
CY2013Q1	us-gaap	Costs And Expenses CostsAndExpenses	309480000
CY2013Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	189597000
CY2013Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	6700000
CY2013Q1	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	11179000
CY2013Q1	us-gaap	Share Based Compensation ShareBasedCompensation	1775000
CY2013Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	5751000
CY2013Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	16969000
CY2013Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-16791000
CY2013Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	13465000
CY2013Q1	us-gaap	Proceeds From Recoveries Of Loan Previously Charged Off ProceedsFromRecoveriesOfLoanPreviouslyChargedOff	2100000
CY2013Q1	us-gaap	Interest Expense InterestExpense	706000
CY2013Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	304000
CY2013Q1	us-gaap	Discontinued Operation Tax Effect Of Discontinued Operation DiscontinuedOperationTaxEffectOfDiscontinuedOperation	749000
CY2013Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-6100000
CY2013Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	157000
CY2013Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	19295000
CY2013Q1	us-gaap	Proceeds From Repayments Of Long Term Debt And Capital Securities ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities	-74000
CY2013Q1	us-gaap	Restructuring Charges RestructuringCharges	364000
CY2013Q1	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	86470000
CY2013Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-12402000
CY2013Q1	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	-3194000
CY2013Q1	ceco	Provision For Doubtful Accounts Including Discontinued Operations ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations	6702000
CY2013Q1	ceco	Educational Services And Facilities Expense EducationalServicesAndFacilitiesExpense	102757000
CY2013Q1	ceco	Shares That Have Anti Dilutive Effect On Diluted Net Income Per Share SharesThatHaveAntiDilutiveEffectOnDilutedNetIncomePerShare	0	shares
CY2013Q1	ceco	Revenue From Tuition And Registration Fees RevenueFromTuitionAndRegistrationFees	279910000
CY2013Q1	ceco	Payment For Sales Of Business Affiliates And Productive Assets PaymentForSalesOfBusinessAffiliatesAndProductiveAssets	1947000
CY2013Q1	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Incurred DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsIncurred	-227000
CY2013Q1	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Net Cash Payments DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsNetCashPayments	2294000
CY2013Q1	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Other DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsOther	38000
CY2014Q1	dei	Trading Symbol TradingSymbol	CECO
CY2014Q1	dei	Entity Registrant Name EntityRegistrantName	CAREER EDUCATION CORP
CY2014Q1	dei	Amendment Flag AmendmentFlag	false
CY2014Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2014Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2014
CY2014Q1	dei	Document Type DocumentType	10-Q
CY2014Q1	dei	Document Period End Date DocumentPeriodEndDate	2014-03-31
CY2014Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001046568
CY2014Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2014Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod	68000	shares
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod	249000	shares
CY2014Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare	-0.16
CY2014Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	-26000
CY2014Q1	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	29810000
CY2014Q1	us-gaap	Income Loss From Discontinued Operations Net Of Tax IncomeLossFromDiscontinuedOperationsNetOfTax	-10698000
CY2014Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	622000
CY2014Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice	34.25
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod	46000	shares
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1 ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1	P4Y
CY2014Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	3.63
CY2014Q1	us-gaap	Nature Of Operations NatureOfOperations	<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>1. DESCRIPTION OF THE COMPANY</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The colleges, institutions and universities that are part of the Career Education Corporation (“CEC”) family offer high-quality education to a diverse student population in a variety of career-oriented disciplines through online, on-ground and hybrid learning program offerings. In addition to its online offerings, Career Education serves students from campuses throughout the United States offering programs that lead to doctoral, master’s, bachelor’s and associate degrees, as well as to diplomas and certificates.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Our institutions include both universities that provide degree programs through the master or doctoral level and colleges that provide programs through the associate and bachelor level. The University group includes American InterContinental University (“AIU”) and Colorado Technical University (“CTU”)—predominantly serving students online with career-focused degree programs that meet the educational demands of today’s busy adults. The Career Schools group offers career-centered education primarily through ground-based campuses and includes Briarcliffe College, Brooks Institute, Harrington College of Design, Le Cordon Bleu North America (“LCB”), Missouri College and Sanford-Brown Institutes and Colleges (“SBI” and “SBC,” respectively). Through our colleges, institutions and universities, we are committed to providing high-quality education, enabling students to graduate and pursue rewarding career opportunities.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> A detailed listing of individual campus locations and web links to Career Education’s colleges, institutions and universities can be found at <i>www.careered.com</i>.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> 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 “college”, “institution” 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 colleges, institutions or universities.</p> </div>
CY2014Q1	us-gaap	Line Of Credit Facility Expiration Date1 LineOfCreditFacilityExpirationDate1	2016-06-30
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod	681000	shares
CY2014Q1	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.005	pure
CY2014Q1	us-gaap	Income Loss From Continuing Operations Per Basic And Diluted Share IncomeLossFromContinuingOperationsPerBasicAndDilutedShare	-0.71
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1 ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1	P3Y
CY2014Q1	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	66994000	shares
CY2014Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	7.10
CY2014Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-35420000
CY2014Q1	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.87
CY2014Q1	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2014Q1	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised		shares
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	147000	shares
CY2014Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod	240000	shares
CY2014Q1	us-gaap	Revenues Revenues	243105000
CY2014Q1	us-gaap	Disposal Group Including Discontinued Operation Revenue DisposalGroupIncludingDiscontinuedOperationRevenue	274000
CY2014Q1	us-gaap	Restructuring Reserve Accrual Adjustment RestructuringReserveAccrualAdjustment	-278000
CY2014Q1	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-58171000
CY2014Q1	us-gaap	Share Based Compensation ShareBasedCompensation	1341000
CY2014Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	5866000
CY2014Q1	us-gaap	Deferred Compensation Arrangement With Individual Compensation Expense DeferredCompensationArrangementWithIndividualCompensationExpense	2300000
CY2014Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	15052000
CY2014Q1	us-gaap	Increase Decrease In Operating Capital IncreaseDecreaseInOperatingCapital	-6000
CY2014Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Domestic IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic	-47225000
CY2014Q1	us-gaap	Investment Income Interest InvestmentIncomeInterest	106000
CY2014Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-28000
CY2014Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-47872000
CY2014Q1	us-gaap	Other Sales Revenue Net OtherSalesRevenueNet	3034000
CY2014Q1	us-gaap	Income Loss From Continuing Operations IncomeLossFromContinuingOperations	-47445000
CY2014Q1	us-gaap	Fair Value Assets Measured On Recurring Basis Change In Unrealized Gain Loss FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
CY2014Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-47225000
CY2014Q1	us-gaap	Nonoperating Income Expense NonoperatingIncomeExpense	647000
CY2014Q1	us-gaap	Net Income Loss NetIncomeLoss	-58143000
CY2014Q1	us-gaap	Discontinued Operation Income Loss From Discontinued Operation Before Income Tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax	-10698000
CY2014Q1	us-gaap	Litigation Settlement Amount LitigationSettlementAmount	3000000
CY2014Q1	us-gaap	Payments For Restructuring PaymentsForRestructuring	593000
CY2014Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3468000
CY2014Q1	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-28000
CY2014Q1	us-gaap	Costs And Expenses CostsAndExpenses	290977000
CY2014Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	189780000
CY2014Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-188000
CY2014Q1	us-gaap	Allowance For Doubtful Accounts Receivable Write Offs AllowanceForDoubtfulAccountsReceivableWriteOffs	8056000
CY2014Q1	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	-54556000
CY2014Q1	us-gaap	Proceeds From Sale Of Available For Sale Securities ProceedsFromSaleOfAvailableForSaleSecurities	14320000
CY2014Q1	us-gaap	Proceeds From Recoveries Of Loan Previously Charged Off ProceedsFromRecoveriesOfLoanPreviouslyChargedOff	2300000
CY2014Q1	us-gaap	Interest Expense InterestExpense	81000
CY2014Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	196000
CY2014Q1	us-gaap	Discontinued Operation Tax Effect Of Discontinued Operation DiscontinuedOperationTaxEffectOfDiscontinuedOperation	0
CY2014Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-18958000
CY2014Q1	us-gaap	Legal Fees LegalFees	2200000
CY2014Q1	us-gaap	Asset Impairment Charges AssetImpairmentCharges	67000
CY2014Q1	us-gaap	Depreciation Depletion And Amortization DepreciationDepletionAndAmortization	15431000
CY2014Q1	us-gaap	Restructuring Charges RestructuringCharges
CY2014Q1	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	-384000
CY2014Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	220000
CY2014Q1	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	10000
CY2014Q1	ceco	Estimated Pretax Compensation Expenses Expiration Period EstimatedPretaxCompensationExpensesExpirationPeriod	P4Y
CY2014Q1	ceco	Provision For Doubtful Accounts Including Discontinued Operations ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations	5852000
CY2014Q1	ceco	Short Term Investment Continuous Unrealized Loss Position Period ShortTermInvestmentContinuousUnrealizedLossPositionPeriod	P1Y
CY2014Q1	ceco	Educational Services And Facilities Expense EducationalServicesAndFacilitiesExpense	86078000
CY2014Q1	ceco	Long Term Investment Continuous Unrealized Loss Position Period LongTermInvestmentContinuousUnrealizedLossPositionPeriod	P1Y
CY2014Q1	ceco	Shares That Have Anti Dilutive Effect On Diluted Net Income Per Share SharesThatHaveAntiDilutiveEffectOnDilutedNetIncomePerShare	0	shares
CY2014Q1	ceco	Revenue From Tuition And Registration Fees RevenueFromTuitionAndRegistrationFees	240071000
CY2014Q1	ceco	Restricted Stock Awards Exercisable In Percentage RestrictedStockAwardsExercisableInPercentage	0.25	pure
CY2014Q1	ceco	Restricted Stock Units To Be Settled In Cash Exercisable In Percentage RestrictedStockUnitsToBeSettledInCashExercisableInPercentage	0.25	pure
CY2014Q1	ceco	Student Receivables Written Off Period StudentReceivablesWrittenOffPeriod	Greater than 90 days
CY2014Q1	ceco	Outstanding Liability On Performance Unit Awards To Be Settled In Cash OutstandingLiabilityOnPerformanceUnitAwardsToBeSettledInCash	1800000
CY2014Q1	ceco	Discontinued Operations Lease Expiration Year DiscontinuedOperationsLeaseExpirationYear	2020
CY2014Q1	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Incurred DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsIncurred	6311000
CY2014Q1	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Net Cash Payments DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsNetCashPayments	5817000
CY2014Q1	ceco	Disposal Group Including Discontinued Operation Remaining Lease Obligations Other DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsOther	-3033000
CY2014Q1	ceco	Retention Bonuses Amount Recorded During Period RetentionBonusesAmountRecordedDuringPeriod	300000
CY2014Q1	ceco	Lease Expiration Teach Out Campuses LeaseExpirationTeachOutCampuses	2021
CY2014Q1	ceco	Number Of Attorney General Inquiries NumberOfAttorneyGeneralInquiries	14	Inquiry
CY2014Q1	ceco	Percent Increase Decrease Related To Valuation Allowance Effective Tax Rate PercentIncreaseDecreaseRelatedToValuationAllowanceEffectiveTaxRate	0.387	pure
CY2014Q1	ceco	Performance Unit Awards Expense PerformanceUnitAwardsExpense	700000

Files In Submission

Name	View Source	Status
0001193125-14-188828-index-headers.html	Edgar Link	pending
0001193125-14-188828-index.html	Edgar Link	pending
0001193125-14-188828.txt	Edgar Link	pending
0001193125-14-188828-xbrl.zip	Edgar Link	pending
ceco-20140331.xml	Edgar Link	completed
ceco-20140331.xsd	Edgar Link	pending
ceco-20140331_cal.xml	Edgar Link	unprocessable
ceco-20140331_def.xml	Edgar Link	unprocessable
ceco-20140331_lab.xml	Edgar Link	unprocessable
ceco-20140331_pre.xml	Edgar Link	unprocessable
d709603d10q.htm	Edgar Link	pending
d709603dex106.htm	Edgar Link	pending
d709603dex311.htm	Edgar Link	pending
d709603dex312.htm	Edgar Link	pending
d709603dex321.htm	Edgar Link	pending
d709603dex322.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
g709603g92t64.jpg	Edgar Link	pending
g709603g94h02.jpg	Edgar Link	pending
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$PRDO
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2014 Q2 Form 10-Q Financial Statement

#000119312514188828 Filed on May 08, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PRDO PERDOCEO EDUCATION Corp Stock $prdo

2014 Q2 Form 10-Q Financial Statement

#000119312514188828 Filed on May 08, 2014

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$PRDO
PERDOCEO EDUCATION Corp Stock $prdo