2019 Q4 Form 8-K Financial Statement

#000110465920090855 Filed on August 05, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q2
Revenue $263.8M $241.7M $245.1M
YoY Change 8.95% 50.2% 113.76%
Cost Of Revenue $133.3M $132.5M $130.7M
YoY Change 12.68% 42.02% 102.01%
Gross Profit $130.4M $109.2M $114.4M
YoY Change 5.33% 61.3% 128.8%
Gross Profit Margin 49.44% 45.17% 46.67%
Selling, General & Admin $67.60M $71.80M $68.80M
YoY Change -16.44% -2.97% 86.96%
% of Gross Profit 51.84% 65.75% 60.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $26.00M $26.40M $26.50M
YoY Change 2.36% 37.5% 440.82%
% of Gross Profit 19.94% 24.18% 23.16%
Operating Expenses $83.10M $87.20M $84.20M
YoY Change -13.71% 3.32% 128.8%
Operating Profit $37.21M $20.00M $27.60M
YoY Change 97.15% -135.01% 559.56%
Interest Expense $55.00M -$100.0K $0.00
YoY Change -6975.0% -99.25% -100.0%
% of Operating Profit 147.8% -0.5% 0.0%
Other Income/Expense, Net -$52.50M $3.300M $4.100M
YoY Change -2725.0% 153.85%
Pretax Income $39.70M $23.24M $31.72M
YoY Change 92.72% -141.49% 584.97%
Income Tax $11.20M $6.551M $7.312M
% Of Pretax Income 28.21% 28.18% 23.05%
Net Earnings $28.54M $16.69M $24.41M
YoY Change 27.09% -131.63% 370.49%
Net Earnings / Revenue 10.82% 6.9% 9.96%
Basic Earnings Per Share $1.31 $0.77 $1.12
Diluted Earnings Per Share $1.29 $0.75 $1.10
COMMON SHARES
Basic Shares Outstanding 21.96M shares 21.81M shares 21.78M shares
Diluted Shares Outstanding 22.13M shares 22.11M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $454.6M $430.5M $414.8M
YoY Change 30.3% 36.9% 141.73%
Cash & Equivalents $419.7M $397.1M $375.5M
Short-Term Investments $34.87M $33.46M $39.29M
Other Short-Term Assets $18.00M $17.13M $17.66M
YoY Change 13.85% -1.55% 54.91%
Inventory
Prepaid Expenses
Receivables $51.52M $50.96M $47.34M
Other Receivables $0.00 $6.900M $10.60M
Total Short-Term Assets $524.1M $505.6M $490.3M
YoY Change 24.68% 29.18% 128.91%
LONG-TERM ASSETS
Property, Plant & Equipment $117.0M $116.5M $118.5M
YoY Change -4.6% -6.51% 64.3%
Goodwill $732.1M $732.1M $732.1M
YoY Change -0.06%
Intangibles $273.0M $286.8M $300.7M
YoY Change -16.85%
Long-Term Investments $15.80M $15.56M $14.49M
YoY Change 17.44% -53.27%
Other Assets $21.79M $20.44M $19.78M
YoY Change 12.14% -11.54% -39.13%
Total Long-Term Assets $1.265B $1.276B $1.294B
YoY Change 1.99% 1.7% 955.67%
TOTAL ASSETS
Total Short-Term Assets $524.1M $505.6M $490.3M
Total Long-Term Assets $1.265B $1.276B $1.294B
Total Assets $1.789B $1.781B $1.785B
YoY Change 7.73% 8.23% 429.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $84.40M $79.90M $79.30M
YoY Change 10.76% 13.82% 80.23%
Accrued Expenses $25.30M $26.20M $26.80M
YoY Change
Deferred Revenue $39.28M $45.57M $40.92M
YoY Change 1.42%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $156.7M $157.8M $153.8M
YoY Change 25.27% 35.94% 122.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $41.45M $1.993M $1.977M
YoY Change 3181.95% -96.02% -95.48%
Total Long-Term Liabilities $41.45M $1.993M $1.977M
YoY Change 3181.95% -96.02% -95.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $156.7M $157.8M $153.8M
Total Long-Term Liabilities $41.45M $1.993M $1.977M
Total Liabilities $326.7M $336.5M $346.7M
YoY Change 38.55% 41.76% 207.08%
SHAREHOLDERS EQUITY
Retained Earnings $152.8M $137.6M $132.1M
YoY Change 29.16%
Common Stock $1.310B $1.307B $1.305B
YoY Change 0.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.463B $1.445B $1.438B
YoY Change
Total Liabilities & Shareholders Equity $1.789B $1.781B $1.785B
YoY Change 7.73% 8.23% 429.86%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $28.54M $16.69M $24.41M
YoY Change 27.09% -131.63% 370.49%
Depreciation, Depletion And Amortization $26.00M $26.40M $26.50M
YoY Change 2.36% 37.5% 440.82%
Cash From Operating Activities $60.70M $38.30M $44.40M
YoY Change -1.3% -185.87% 241.54%
INVESTING ACTIVITIES
Capital Expenditures -$10.90M -$8.900M -$10.10M
YoY Change -5.22% 20.27% 129.55%
Acquisitions
YoY Change
Other Investing Activities -$13.60M $4.800M $3.100M
YoY Change 172.0% -97.05%
Cash From Investing Activities -$24.50M -$4.100M -$7.000M
YoY Change 47.59% -102.64% 59.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.30M -12.70M -14.30M
YoY Change 38.54% 118.97% 393.1%
NET CHANGE
Cash From Operating Activities 60.70M 38.30M 44.40M
Cash From Investing Activities -24.50M -4.100M -7.000M
Cash From Financing Activities -13.30M -12.70M -14.30M
Net Change In Cash 22.90M 21.50M 23.10M
YoY Change -35.13% -79.5% 305.26%
FREE CASH FLOW
Cash From Operating Activities $60.70M $38.30M $44.40M
Capital Expenditures -$10.90M -$8.900M -$10.10M
Free Cash Flow $71.60M $47.20M $54.50M
YoY Change -1.92% -226.88% 213.22%

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CY2019 us-gaap Profit Loss
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CY2018 stra Amortization Of Gain On Sale Of Assets
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CY2018 us-gaap Depreciation And Amortization
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CY2019 us-gaap Depreciation And Amortization
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CY2017 us-gaap Deferred Income Tax Expense Benefit
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CY2018 us-gaap Deferred Income Tax Expense Benefit
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CY2019 us-gaap Deferred Income Tax Expense Benefit
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CY2017 us-gaap Share Based Compensation
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CY2018 us-gaap Share Based Compensation
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CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2018 stra Operating Activities Fair Value Adjustments
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CY2019 stra Impairmentof Rightof Use Assets
ImpairmentofRightofUseAssets
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CY2018 us-gaap Increase Decrease In Accounts Receivable
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CY2019 us-gaap Increase Decrease In Accounts Receivable
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CY2017 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2019 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2018 us-gaap Increase Decrease In Other Operating Assets
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135000
CY2019 us-gaap Increase Decrease In Other Operating Assets
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CY2017 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2017 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2018 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2019 us-gaap Increase Decrease In Accrued Income Taxes Payable
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CY2017 us-gaap Increase Decrease In Contract With Customer Liability
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8212000
CY2018 us-gaap Increase Decrease In Contract With Customer Liability
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CY2019 us-gaap Increase Decrease In Contract With Customer Liability
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CY2018 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2019 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2017 us-gaap Net Cash Provided By Used In Operating Activities
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CY2018 us-gaap Net Cash Provided By Used In Operating Activities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
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CY2017 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2019 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2017 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
18051000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27547000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
38689000
CY2017 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
0
CY2018 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
25304000
CY2019 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
40481000
CY2017 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2018 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2019 us-gaap Payments Of Financing Costs
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CY2018 us-gaap Fair Value Of Assets Acquired
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CY2018 us-gaap Payments To Acquire Other Investments
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CY2019 us-gaap Fair Value Of Assets Acquired
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CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2019 us-gaap Payments To Acquire Other Investments
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CY2017 us-gaap Net Cash Provided By Used In Financing Activities
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CY2018 us-gaap Net Cash Provided By Used In Financing Activities
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CY2017 us-gaap Net Cash Provided By Used In Investing Activities
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CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
130137000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
26690000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
155789000
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PaymentsOfDividendsCommonStock
11416000
CY2018 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
27842000
CY2019 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
46625000
CY2017 stra Paymentsfor Proceedsfromof Share Based Compensation Net
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0
CY2018 stra Paymentsfor Proceedsfromof Share Based Compensation Net
PaymentsforProceedsfromofShareBasedCompensationNet
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CY2019 stra Paymentsfor Proceedsfromof Share Based Compensation Net
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CY2018 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1162000
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AccountsReceivableGrossCurrent
84151000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
108260000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129758000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156448000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
312237000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
156448000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
312237000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
420497000
CY2017 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
1734000
CY2019 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:9pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><b style="font-size:10pt;font-weight:bold;">1. </b>  <b style="font-size:10pt;font-weight:bold;">Nature of Operations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">Strategic Education, Inc. (“Strategic Education” or the “Company”), a Maryland corporation formerly known as Strayer Education, Inc., is a national leader in education innovation, dedicated to enabling economic mobility for working adults through education. As further discussed in Note 2 and Note 3, the Company completed its merger with Capella Education Company (“CEC”) on August 1, 2018. The accompanying consolidated financial statements and footnotes include the results of the Company’s two reportable segments: Strayer University and Capella University. The Company’s reportable segments are discussed further in Note 20.</p>
CY2019 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2017 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
268943000
CY2017 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2018 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
371542000
CY2018 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
194035000
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Most cash and cash equivalent balances are in excess of the FDIC insurance limit. The Company has not experienced any losses on its cash and cash equivalents.</p>
CY2019Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
82454000
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AllowanceForDoubtfulAccountsReceivableCurrent
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
30931000
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AccountsReceivableNetCurrent
55694000
CY2019Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
51523000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
304000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
500000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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CY2019Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
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CY2018Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
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500000
CY2019Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
500000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
312237000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
420497000
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CommonStockDividendsPerShareDeclared
0.60
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CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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21751000
CY2018 us-gaap Provision For Doubtful Accounts
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37704000
CY2019 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
49072000
CY2017 stra Addition Doubtful Accounts From Merger
AdditionDoubtfulAccountsFromMerger
0
CY2018 stra Addition Doubtful Accounts From Merger
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CY2019 stra Addition Doubtful Accounts From Merger
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CY2017 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2019 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2017Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2018Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
28457000
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18700000
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31400000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49500000
CY2018 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
10000
CY2018 us-gaap Payments For Restructuring
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443000
CY2018Q4 us-gaap Common Stock Shares Authorized
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CY2019Q4 us-gaap Common Stock Shares Authorized
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CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
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CY2018Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
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CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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PreferredStockSharesAuthorized
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CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2019Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2019 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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90000
CY2018Q4 us-gaap Restructuring Reserve
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20887000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
66800000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
102600000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
149800000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10678000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15190000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21725000
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
39000
CY2018 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0
CY2019 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
54000
CY2017 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
482000
CY2018 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
0
CY2019 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
318000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
11199000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15190000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
22097000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
611000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16000
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57000
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0
CY2019 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0
CY2018 stra Revenue Deferred
RevenueDeferred
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CY2019 stra Revenue Deferred
RevenueDeferred
30071000
CY2018Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
318000
CY2018 stra Benefit Redeemed
BenefitRedeemed
21420000
CY2019 stra Benefit Redeemed
BenefitRedeemed
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CY2019 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the period reported. The most significant management estimates include allowances for doubtful accounts, useful lives of property and equipment and intangible assets, incremental borrowing rates, potential sublease income and vacancy periods, accrued expenses, forfeiture rates and the likelihood of achieving performance criteria for stock-based awards, value of free courses earned by students that will be redeemed in the future, valuation of goodwill and intangible assets, and the provision for income taxes. Actual results could differ from those estimates.</p>
CY2018Q3 stra Number Of Independent Universities
NumberOfIndependentUniversities
2
CY2018Q4 stra Graduation Fund Liability
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43329000
CY2019Q4 stra Graduation Fund Liability
GraduationFundLiability
49641000
CY2017 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
454851000
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
634185000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
997137000
CY2020Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019 stra Number Of Free Courses
NumberOfFreeCourses
1
CY2019 stra Number Of Successfully Completed Courses
NumberOfSuccessfullyCompletedCourses
3
CY2019 stra Consecutive Terms Of Non Attendance In Which Graduation Fund Credits Will Be Lost
ConsecutiveTermsOfNonAttendanceInWhichGraduationFundCreditsWillBeLost
1
CY2019 stra Expected Collection Period Of Tuition Receivable
ExpectedCollectionPeriodOfTuitionReceivable
P12M
CY2019Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
1300000
CY2013Q4 stra Campus Location Closed
CampusLocationClosed
20
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
74799000
CY2019 stra Marginal Borrowing Rate Of Lease
MarginalBorrowingRateOfLease
0.045
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2019 us-gaap Restructuring Charges
RestructuringCharges
3920000
CY2016Q4 us-gaap Restructuring Reserve
RestructuringReserve
11985000
CY2019 us-gaap Payments For Restructuring
PaymentsForRestructuring
9984000
CY2019 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-6540000
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
8283000
CY2017Q4 stra Graduation Fund Liability
GraduationFundLiability
37400000
CY2018Q4 stra Graduation Fund Liability
GraduationFundLiability
43329000
CY2017 us-gaap Restructuring Charges
RestructuringCharges
3400000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-3193000
CY2018 us-gaap Restructuring Charges
RestructuringCharges
16300000
CY2019 us-gaap Restructuring Charges
RestructuringCharges
3900000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
71485000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
277000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
255000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
71507000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
75060000
CY2017 us-gaap Restructuring Charges
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3414000
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7037000
CY2017 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
419000
CY2017Q4 us-gaap Restructuring Reserve
RestructuringReserve
8781000
CY2018 us-gaap Restructuring Charges
RestructuringCharges
16319000
CY2019 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2018Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
37121000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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34874000
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37678000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
36633000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
74799000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
71507000
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16400000
CY2019 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
43800000
CY2018 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
CY2019 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
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105841000
CY2019Q4 stra Lessee Operating Lease Lease Notyet Commenced Amount
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6500000
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1600000
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4963000
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33600000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
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32745000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
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33600000
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0
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300511000
CY2019Q4 us-gaap Property Plant And Equipment Gross
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306110000
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177834000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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189081000
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122677000
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117029000
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33500000
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35335000
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885000
CY2019 us-gaap Sublease Income
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2696000
CY2019 us-gaap Lease Cost
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33524000
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6000000.0
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P5Y8M12D
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0.0415
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
32883000
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4431000
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2156000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
29178000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
24351000
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LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
15479000
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12376000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
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10692000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
27592000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
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119668000
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13827000
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35900000
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1764000
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5400000
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0
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6837000
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20744000
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13944000
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1811000
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732540000
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CY2019Q4 us-gaap Goodwill
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732075000
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GoodwillImpairmentLoss
0
CY2017 us-gaap Goodwill Impairment Loss
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0
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351400000
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23056000
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328344000
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351400000
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FiniteLivedIntangibleAssetsAccumulatedAmortization
78389000
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273011000
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55333000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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32278000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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0
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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0
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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0
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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0
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36566000
CY2019Q4 us-gaap Accounts Payable Trade Current And Noncurrent
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47503000
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35844000
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33924000
CY2018Q4 stra Accrued Student Obligations
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4284000
CY2019Q4 stra Accrued Student Obligations
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4580000
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5156000
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751000
CY2018Q4 us-gaap Other Liabilities
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4129000
CY2019Q4 us-gaap Other Liabilities
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4070000
CY2018Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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85979000
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
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90828000
CY2019Q4 stra Maximum Leverage Ratio To Be Maintained Under Credit Facility
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CY2019Q4 stra Minimum Coverage Ratio To Be Maintained Under Credit Facility
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CY2019Q4 stra Minimum Department Of Education Financial Composite Score To Be Maintained Under Credit Facility
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CY2018 us-gaap Line Of Credit Facility Commitment Fee Amount
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400000
CY2019 us-gaap Line Of Credit Facility Commitment Fee Amount
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500000
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CY2018Q4 us-gaap Line Of Credit
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CY2019Q4 us-gaap Line Of Credit
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CY2019Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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119000
CY2018Q4 us-gaap Liabilities Other Than Longterm Debt Noncurrent
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51316000
CY2019Q4 stra Deferred Acquisition Payments Non Current
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1961000
CY2018Q4 us-gaap Restructuring Reserve Noncurrent
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6800000
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8600000
CY2019 stra Payments For Stock Options Exercised
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1800000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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11300000
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
17400000
CY2019Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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24700000
CY2019 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P23M
CY2019 stra Restricted Stock Award Subject To Performance Condition
RestrictedStockAwardSubjectToPerformanceCondition
313000
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CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
15532000
CY2019 us-gaap Share Based Compensation
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CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
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CY2017 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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7034000
CY2018 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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11610000
CY2019 us-gaap Allocated Share Based Compensation Expense Net Of Tax
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9034000
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CY2018 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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3500000
CY2019 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
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23880000
CY2019Q4 us-gaap Contract With Customer Liability Noncurrent
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30925000
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1838000
CY2018Q4 stra Loss On Facilities Not In Use
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4332000
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0
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CY2019Q4 stra Lease Incentive Payable Non Current
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1263000
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41451000
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CY2019Q4 stra Deferred Payment Arrangement Value
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CY2018 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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3500000
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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7200000
CY2019 stra Employee Stock Purchase Plan Percentage Of Purchase Price From Market Value
EmployeeStockPurchasePlanPercentageOfPurchasePriceFromMarketValue
0.90
CY2019 stra Employee Stock Purchase Plan Maximum Percentage Of Purchase Employee Can Make On Eligible Compensation
EmployeeStockPurchasePlanMaximumPercentageOfPurchaseEmployeeCanMakeOnEligibleCompensation
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2500000
CY2019 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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0
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
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1200000
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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21156000
CY2018 us-gaap Current Federal Tax Expense Benefit
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CY2019 us-gaap Current Federal Tax Expense Benefit
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4477000
CY2018 us-gaap Current State And Local Tax Expense Benefit
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3785000
CY2019 us-gaap Current State And Local Tax Expense Benefit
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CY2017 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2018 us-gaap Current Federal State And Local Tax Expense Benefit
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CY2019 us-gaap Current Federal State And Local Tax Expense Benefit
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11375000
CY2018 us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
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0
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CY2019 us-gaap Share Based Compensation
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
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133000
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6401000
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27074000
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65777000
CY2019Q4 stra Deferred Tax Assets Deferred Rightof Use Lease Assets
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CY2019 us-gaap Income Tax Examination Penalties And Interest Expense
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CY2019Q4 us-gaap Unrecognized Tax Benefits
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CY2018Q4 us-gaap Unrecognized Tax Benefits
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CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0
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CY2019 stra Effective Income Tax Rate Reconciliation Transaction Costs
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CY2019 stra Effective Income Tax Rate Reconciliation Contingent Consideration
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CY2019 us-gaap Income Taxes Paid
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CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Impairment Losses
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0
CY2017 stra Effective Income Tax Rate Reconciliation Acceleration Of Deductions Due To Change In Tax Law Percent
EffectiveIncomeTaxRateReconciliationAccelerationOfDeductionsDueToChangeInTaxLawPercent
0
CY2018 stra Effective Income Tax Rate Reconciliation Acceleration Of Deductions Due To Change In Tax Law Percent
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CY2019 stra Effective Income Tax Rate Reconciliation Acceleration Of Deductions Due To Change In Tax Law Percent
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0
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EffectiveIncomeTaxRateContinuingOperations
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CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2017 us-gaap Income Taxes Paid
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CY2017Q4 us-gaap Equity Method Investments
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0
CY2018Q4 us-gaap Equity Method Investments
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CY2018 stra Value Of Limited Partnership In Equity Method Investments Acquired Through Business Combination
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CY2019 stra Value Of Limited Partnership In Equity Method Investments Acquired Through Business Combination
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CY2019 us-gaap Income Loss From Equity Method Investments
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2337000
CY2018 us-gaap Equity Method Investment Dividends Or Distributions
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0
CY2019 us-gaap Equity Method Investment Dividends Or Distributions
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CY2019 stra Fair Value Adjustments
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CY2019 stra Number Of Debt To Earnings Measures
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2
CY2019 stra Number Of Ineligible Years
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P3Y
CY2017Q1 stra Number Of Failed Programs
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0

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