$PRDO
Perdoceo Education Corp

2019 Q2 Form 10-Q Financial Statement

#000156459019030087 Filed on August 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q4 2018 Q2
Revenue $156.4M $145.5M $142.0M
YoY Change 10.14% 1.67% -2.86%
Cost Of Revenue $25.40M $25.50M $30.30M
YoY Change -16.17% -12.07% -16.76%
Gross Profit $131.1M $120.0M $111.7M
YoY Change 17.37% 5.17% 1.73%
Gross Profit Margin 83.8% 82.47% 78.64%
Selling, General & Admin $128.7M $97.50M $98.30M
YoY Change 30.93% -3.27% 1.55%
% of Gross Profit 98.17% 81.25% 88.0%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.300M $2.400M $2.100M
YoY Change 9.52% -7.69% -46.15%
% of Gross Profit 1.75% 2.0% 1.88%
Operating Expenses $156.3M $99.80M $130.7M
YoY Change 19.52% -3.48% 29.82%
Operating Profit $184.0K $20.18M $11.30M
YoY Change -98.37% 88.41% 24.15%
Interest Expense $40.00K $900.0K $600.0K
YoY Change -93.33% 80.0% 430.97%
% of Operating Profit 21.74% 4.46% 5.31%
Other Income/Expense, Net $1.597M $0.00 $501.0K
YoY Change 218.76% -100.0% -17.05%
Pretax Income $1.781M $21.00M $11.80M
YoY Change -84.91% 85.84% 21.59%
Income Tax $2.302M $7.000M $2.940M
% Of Pretax Income 129.25% 33.33% 24.91%
Net Earnings -$559.0K $14.07M $8.751M
YoY Change -106.39% -131.7% 104.18%
Net Earnings / Revenue -0.36% 9.67% 6.16%
Basic Earnings Per Share -$0.01 $0.20 $0.13
Diluted Earnings Per Share -$0.01 $0.20 $0.12
COMMON SHARES
Basic Shares Outstanding 70.11M 69.67M
Diluted Shares Outstanding 70.11M 71.56M

Balance Sheet

Concept 2019 Q2 2018 Q4 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $280.2M $228.8M $185.5M
YoY Change 51.04% 31.29% 13.41%
Cash & Equivalents $51.44M $32.39M $33.96M
Short-Term Investments $228.8M $196.4M $151.6M
Other Short-Term Assets $364.0K $437.0K $18.10M
YoY Change -97.99% -66.87% -20.26%
Inventory $660.0K $763.0K $900.0K
Prepaid Expenses $9.013M $7.771M
Receivables $27.87M $28.75M $25.00M
Other Receivables $2.600M $2.500M $1.900M
Total Short-Term Assets $320.9M $269.4M $230.7M
YoY Change 39.12% 27.87% 10.01%
LONG-TERM ASSETS
Property, Plant & Equipment $27.51M $30.05M $30.80M
YoY Change -10.69% -9.58% -12.99%
Goodwill $87.36M $87.36M
YoY Change 0.0%
Intangibles $7.900M $7.900M
YoY Change 0.0%
Long-Term Investments
YoY Change
Other Assets $4.951M $4.993M $99.70M
YoY Change -95.03% -11.99% -38.87%
Total Long-Term Assets $240.9M $213.0M $228.1M
YoY Change 5.59% -9.87% -23.15%
TOTAL ASSETS
Total Short-Term Assets $320.9M $269.4M $230.7M
Total Long-Term Assets $240.9M $213.0M $228.1M
Total Assets $561.8M $482.5M $458.8M
YoY Change 22.45% 7.92% -9.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.38M $9.195M $11.30M
YoY Change 9.58% 8.18% 8.65%
Accrued Expenses $75.20M $44.20M $56.70M
YoY Change 32.63% -31.05% -11.96%
Deferred Revenue $28.66M $32.35M $23.05M
YoY Change 24.36% 41.29%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $128.5M $97.05M $105.9M
YoY Change 21.34% -13.88% -12.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $52.10M $17.49M $30.00M
YoY Change 73.67% -54.21% -40.59%
Total Long-Term Liabilities $52.10M $30.24M $30.00M
YoY Change 73.67% -20.84% -40.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $128.5M $97.05M $105.9M
Total Long-Term Liabilities $52.10M $30.24M $30.00M
Total Liabilities $180.6M $127.3M $135.9M
YoY Change 32.89% -15.65% -20.76%
SHAREHOLDERS EQUITY
Retained Earnings -$52.95M
YoY Change
Common Stock $629.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $220.7M
YoY Change
Treasury Stock Shares $15.40M
Shareholders Equity $381.2M $355.2M $322.9M
YoY Change
Total Liabilities & Shareholders Equity $561.8M $482.5M $458.8M
YoY Change 22.45% 7.92% -9.42%

Cashflow Statement

Concept 2019 Q2 2018 Q4 2018 Q2
OPERATING ACTIVITIES
Net Income -$559.0K $14.07M $8.751M
YoY Change -106.39% -131.7% 104.18%
Depreciation, Depletion And Amortization $2.300M $2.400M $2.100M
YoY Change 9.52% -7.69% -46.15%
Cash From Operating Activities $40.50M $38.70M $3.700M
YoY Change 994.59% 430.14% -24.49%
INVESTING ACTIVITIES
Capital Expenditures -$900.0K -$2.700M -$1.300M
YoY Change -30.77% -6.9% -7.14%
Acquisitions
YoY Change
Other Investing Activities -$27.30M -$35.60M $6.600M
YoY Change -513.64% 1269.23% -67.16%
Cash From Investing Activities -$28.20M -$38.40M $5.300M
YoY Change -632.08% 598.18% -71.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 100.0K
YoY Change -100.0% -100.0% -95.45%
NET CHANGE
Cash From Operating Activities 40.50M 38.70M 3.700M
Cash From Investing Activities -28.20M -38.40M 5.300M
Cash From Financing Activities 0.000 0.000 100.0K
Net Change In Cash 12.30M 300.0K 9.100M
YoY Change 35.16% -84.21% -64.59%
FREE CASH FLOW
Cash From Operating Activities $40.50M $38.70M $3.700M
Capital Expenditures -$900.0K -$2.700M -$1.300M
Free Cash Flow $41.40M $41.40M $5.000M
YoY Change 728.0% 305.88% -20.63%

Facts In Submission

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us-gaap Nature Of Operations
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. DESCRIPTION OF THE COMPANY</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Career Education’s academic institutions offer a quality education to a diverse student population in a variety of disciplines through online, campus-based and blended learning programs. Our two regionally accredited universities – Colorado Technical University <span style="font-style:italic;">(“CTU”)</span> and American InterContinental University <span style="font-style:italic;">(“AIU”)</span> – provide degree programs through the master’s or doctoral level as well as associate and bachelor’s levels. Both universities predominantly serve students online with career-focused degree programs that are designed to meet the educational needs of today’s busy adults. CTU and AIU continue to show innovation in higher education, advancing new personalized learning technologies like their intelli<span style="font-weight:bold;">path</span><sup style="font-size:85%; vertical-align:top">®</sup> learning platform. Career Education is committed to providing quality education that closes the gap between learners who seek to advance their careers and employers needing a qualified workforce.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A listing of our university locations and web links to these institutions can be found at <span style="font-style:italic;">www.careered.com.</span></p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 “institution” and “university” refer to an individual, branded, for-profit 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 institutions.</p>
CY2019Q2 ceco Number Of Regionally Accredited Universities
NumberOfRegionallyAccreditedUniversities
2
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NumberOfReportableSegments
2
ceco Short Term Investment Continuous Unrealized Gain Loss Position Period
ShortTermInvestmentContinuousUnrealizedGainLossPositionPeriod
P1Y
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CostsAndExpensesRelatedParty
359000
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CostsAndExpensesRelatedParty
377000
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156441000
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GrossDeferredRevenue
45801000
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GrossDeferredRevenue
51694000
CY2019Q2 us-gaap Contract With Customer Asset Gross
ContractWithCustomerAssetGross
17137000
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ContractWithCustomerAssetGross
19343000
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28664000
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ContractWithCustomerLiabilityCurrent
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GrossDeferredRevenue
36081000
CY2019Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
32539000
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40909000
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CurrentPeriodCharges
132757000
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ContractWithCustomersNewRevenueDuringPeriod
123240000
CY2018Q2 ceco Contract With Customers New Revenue During Period
ContractWithCustomersNewRevenueDuringPeriod
100435000
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DeferredRevenueOtherAdjustments
-707000
CY2018Q2 ceco Deferred Revenue Other Adjustments
DeferredRevenueOtherAdjustments
-265000
CY2019Q2 ceco Gross Deferred Revenue
GrossDeferredRevenue
45801000
CY2018Q2 ceco Gross Deferred Revenue
GrossDeferredRevenue
37260000
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GrossDeferredRevenue
51694000
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GrossDeferredRevenue
39544000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
44120000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
36624000
ceco Current Period Charges
CurrentPeriodCharges
305341000
ceco Current Period Charges
CurrentPeriodCharges
285984000
ceco Contract With Customers New Revenue During Period
ContractWithCustomersNewRevenueDuringPeriod
268887000
ceco Contract With Customers New Revenue During Period
ContractWithCustomersNewRevenueDuringPeriod
252230000
ceco Deferred Revenue Other Adjustments
DeferredRevenueOtherAdjustments
-1773000
ceco Deferred Revenue Other Adjustments
DeferredRevenueOtherAdjustments
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CY2019Q2 ceco Gross Deferred Revenue
GrossDeferredRevenue
45801000
CY2018Q2 ceco Gross Deferred Revenue
GrossDeferredRevenue
37260000
CY2019Q2 ceco Refund Liability Reserve
RefundLiabilityReserve
1200000
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RefundLiabilityReserve
900000
CY2019Q2 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
500000
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AccountsReceivableNetNoncurrent
900000
CY2019Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2019Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2018Q1 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2018Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
24268000
CY2019Q2 us-gaap Proceeds From Recoveries Of Loan Previously Charged Off
ProceedsFromRecoveriesOfLoanPreviouslyChargedOff
500000
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ProceedsFromRecoveriesOfLoanPreviouslyChargedOff
1200000
ceco Operating Lease Expiration Date
OperatingLeaseExpirationDate
2028
CY2019Q2 ceco Fixed Operating Lease Expenses
FixedOperatingLeaseExpenses
3335000
ceco Fixed Operating Lease Expenses
FixedOperatingLeaseExpenses
6705000
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VariableOperatingLeaseExpenses
2248000
ceco Variable Operating Lease Expenses
VariableOperatingLeaseExpenses
4634000
us-gaap Sublease Income
SubleaseIncome
2257000
us-gaap Lease Cost
LeaseCost
9082000
us-gaap Operating Lease Payments
OperatingLeasePayments
18103000
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OperatingCashFlowsFromSubleases
1055000
ceco Operating Cash Flows From Subleases
OperatingCashFlowsFromSubleases
2305000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
21884000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17728000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12070000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
8638000
CY2018Q4 ceco Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
22298000
CY2018Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
82618000
ceco Number Of Subleases
NumberOfSubleases
12
ceco Number Of Leased Facilities Which Are Subleased
NumberOfLeasedFacilitiesWhichAreSubleased
8
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
1100000
CY2019Q2 ceco Future Minimum Sublease Rentals Under Operating Leases Within One Year
FutureMinimumSubleaseRentalsUnderOperatingLeasesWithinOneYear
1555000
CY2019Q2 ceco Future Minimum Sublease Rentals Under Operating Leases Within Two Years
FutureMinimumSubleaseRentalsUnderOperatingLeasesWithinTwoYears
2765000
CY2019Q2 ceco Future Minimum Sublease Rentals Under Operating Leases Within Three Years
FutureMinimumSubleaseRentalsUnderOperatingLeasesWithinThreeYears
1081000
CY2019Q2 ceco Future Minimum Sublease Rentals Under Operating Leases Within Four Years
FutureMinimumSubleaseRentalsUnderOperatingLeasesWithinFourYears
777000
CY2019Q2 ceco Future Minimum Sublease Rentals Under Operating Leases In Five Years And Thereafter
FutureMinimumSubleaseRentalsUnderOperatingLeasesInFiveYearsAndThereafter
330000
CY2019Q2 ceco Future Minimum Sublease Rentals Under Operating Leases
FutureMinimumSubleaseRentalsUnderOperatingLeases
6508000
ceco Number Of Leases Related To Ongoing Operations
NumberOfLeasesRelatedToOngoingOperations
9
ceco Number Of Leases Related To Closed Campuses
NumberOfLeasesRelatedToClosedCampuses
10
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7771000
CY2018Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
81628000
CY2018Q4 us-gaap Disposal Group Including Discontinued Operation Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationAssetsNoncurrent
178000
CY2018Q4 us-gaap Other Accrued Liabilities Current
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19668000
CY2018Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
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536000
CY2018Q4 us-gaap Deferred Rent Credit Noncurrent
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12745000
CY2018Q4 us-gaap Other Liabilities Noncurrent
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17493000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-52946000
us-gaap Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
310
ceco Number Of Expected Individual Arbitrations Sent Back To State Court
NumberOfExpectedIndividualArbitrationsSentBackToStateCourt
65
CY2019Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1781000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
11804000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
33376000
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2302000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2940000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8709000
CY2019Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
1.293
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.261
CY2018Q4 ceco Deferred Tax Assets Valuation Allowance Related To Foreign Tax Credits State Net Operating Loss And Edge Credits
DeferredTaxAssetsValuationAllowanceRelatedToForeignTaxCreditsStateNetOperatingLossAndEdgeCredits
48000000.0
CY2019Q2 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
800000
CY2019Q2 ceco Deferred Tax Assets Valuation Allowance Related To Foreign Tax Credits State Net Operating Loss And Edge Credits
DeferredTaxAssetsValuationAllowanceRelatedToForeignTaxCreditsStateNetOperatingLossAndEdgeCredits
47200000
CY2019Q2 ceco Income Tax Reconciliation Nondeductible Expense Legal Settlement
IncomeTaxReconciliationNondeductibleExpenseLegalSettlement
2400000
ceco Income Tax Reconciliation Nondeductible Expense Legal Settlement
IncomeTaxReconciliationNondeductibleExpenseLegalSettlement
2400000
CY2019Q2 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
1.325
ceco Effective Income Tax Rate Reconciliation Change From Discreet Tax Items
EffectiveIncomeTaxRateReconciliationChangeFromDiscreetTaxItems
0.067
CY2019Q2 us-gaap Significant Change In Unrecognized Tax Benefits Is Reasonably Possible Amount Of Unrecorded Benefit
SignificantChangeInUnrecognizedTaxBenefitsIsReasonablyPossibleAmountOfUnrecordedBenefit
1500000
CY2019Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
1600000
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
9000000.0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P4Y
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2818000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.33
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
22.62
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.79
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.85
ceco Restricted Stock Units To Be Settled In Shares Exercisable In Percentage
RestrictedStockUnitsToBeSettledInSharesExercisableInPercentage
0.25
CY2018Q4 ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Unreleased Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsUnreleasedNumber
76000
CY2018Q4 ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Unreleased Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsUnreleasedWeightedAverageGrantDateFairValue
4.44
ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsGrantsInPeriod
0
ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsGrantsInPeriodWeightedAverageGrantDateFairValue
0
ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Unit Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitVestedInPeriod
3000
ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Vested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsVestedWeightedAverageGrantDateFairValue
5.56
ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsForfeitedInPeriod
0
ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Nonvested Forfeited Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsNonvestedForfeitedWeightedAverageGrantDateFairValue
0
CY2019Q2 ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Unreleased Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsUnreleasedNumber
73000
CY2019Q2 ceco Share Based Compensation Arrangement By Share Based Payment Award Deferred Stock Units Unreleased Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardDeferredStockUnitsUnreleasedWeightedAverageGrantDateFairValue
4.39
ceco Restricted Stock Units To Be Settled In Cash Exercisable In Percentage
RestrictedStockUnitsToBeSettledInCashExercisableInPercentage
0.25
CY2018Q4 ceco Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Non Vested Number Settled In Cash
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonVestedNumberSettledInCash
213000
ceco Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested Settled In Cash
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedSettledInCash
110000
ceco Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited Settled In Cash
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedSettledInCash
2000
CY2019Q2 ceco Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Non Vested Number Settled In Cash
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonVestedNumberSettledInCash
101000
ceco Expense For Restricted Stock Units Settled In Cash
ExpenseForRestrictedStockUnitsSettledInCash
1400000
ceco Expense For Restricted Stock Units Settled In Cash
ExpenseForRestrictedStockUnitsSettledInCash
1600000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1478000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1688000
ceco Expense For Performance Unit Awards Expense Settled In Cash
ExpenseForPerformanceUnitAwardsExpenseSettledInCash
2100000
ceco Expense For Performance Unit Awards Expense Settled In Cash
ExpenseForPerformanceUnitAwardsExpenseSettledInCash
1600000
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70105000
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69668000
CY2018Q2 ceco Common Stock Equivalents
CommonStockEquivalents
1894000
ceco Common Stock Equivalents
CommonStockEquivalents
1810000
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
70105000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71562000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71782000
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
156441000
CY2019Q2 ceco Percentage Of Revenue
PercentageOfRevenue
1.000
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
142036000
CY2018Q2 ceco Percentage Of Revenue
PercentageOfRevenue
1.000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
184000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
11303000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
314294000
ceco Percentage Of Revenue
PercentageOfRevenue
1.000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
290101000
ceco Percentage Of Revenue
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1.000
us-gaap Operating Income Loss
OperatingIncomeLoss
30155000
us-gaap Operating Income Loss
OperatingIncomeLoss
31832000
CY2019Q2 us-gaap Assets
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561799000
CY2018Q4 us-gaap Assets
Assets
482493000
CY2019Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
49000
CY2018Q2 us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
147000
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
567000
us-gaap Disposal Group Including Discontinued Operation Operating Expense
DisposalGroupIncludingDiscontinuedOperationOperatingExpense
645000
CY2019Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-49000
CY2018Q2 us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-147000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-567000
us-gaap Discontinued Operation Income Loss From Discontinued Operation Before Income Tax
DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
-645000
CY2019Q2 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-11000
CY2018Q2 us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-34000
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-132000
us-gaap Discontinued Operation Tax Effect Of Discontinued Operation
DiscontinuedOperationTaxEffectOfDiscontinuedOperation
-150000
CY2019Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-38000
CY2018Q2 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-113000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-435000
us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-495000
CY2019Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Notes And Loans Receivable Net
DisposalGroupIncludingDiscontinuedOperationAccountsNotesAndLoansReceivableNet
120000
CY2019Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
120000
CY2019Q2 us-gaap Disposal Group Including Discontinued Operation Deferred Tax Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssetsNoncurrent
178000
CY2018Q4 us-gaap Disposal Group Including Discontinued Operation Deferred Tax Assets Noncurrent
DisposalGroupIncludingDiscontinuedOperationDeferredTaxAssetsNoncurrent
178000
CY2019Q2 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
298000
CY2018Q4 us-gaap Assets Of Disposal Group Including Discontinued Operation
AssetsOfDisposalGroupIncludingDiscontinuedOperation
178000
CY2019Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Payable And Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities
3000
CY2018Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable And Accrued Liabilities
DisposalGroupIncludingDiscontinuedOperationAccountsPayableAndAccruedLiabilities
51000
CY2018Q4 ceco Disposal Group Including Discontinued Operation Remaining Lease Obligations Current
DisposalGroupIncludingDiscontinuedOperationRemainingLeaseObligationsCurrent
485000
CY2019Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3000
CY2018Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
536000
CY2019Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
3000
CY2018Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
536000

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