$UTI
UNIVERSAL TECHNICAL INSTITUTE INC

2016 Q1 Form 10-Q Financial Statement

#000126165416000061 Filed on April 29, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $88.19M $91.24M
YoY Change -3.34% -3.67%
Cost Of Revenue $22.00M $22.40M
YoY Change -1.79% -6.28%
Gross Profit $66.20M $68.80M
YoY Change -3.78% -2.82%
Gross Profit Margin 75.06% 75.41%
Selling, General & Admin $44.19M $40.69M
YoY Change 8.61% -10.66%
% of Gross Profit 66.76% 59.14%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.100M $4.380M
YoY Change -6.39% -8.18%
% of Gross Profit 6.19% 6.37%
Operating Expenses $93.96M $88.83M
YoY Change 5.77% -7.78%
Operating Profit -$5.770M $2.402M
YoY Change -340.22% -249.01%
Interest Expense -$700.0K -$300.0K
YoY Change 133.33% -25.0%
% of Operating Profit -12.49%
Other Income/Expense, Net -$569.0K -$212.0K
YoY Change 168.4% -18.15%
Pretax Income -$6.339M $2.190M
YoY Change -389.45% -217.05%
Income Tax $25.66M $1.635M
% Of Pretax Income 74.66%
Net Earnings -$32.00M $555.0K
YoY Change -5866.13% -134.26%
Net Earnings / Revenue -36.29% 0.61%
Basic Earnings Per Share -$1.32 $0.02
Diluted Earnings Per Share -$1.32 $0.02
COMMON SHARES
Basic Shares Outstanding 24.27M shares 24.46M shares
Diluted Shares Outstanding 24.27M shares 24.55M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.50M $64.60M
YoY Change -21.83% -28.14%
Cash & Equivalents $40.43M $16.37M
Short-Term Investments $10.10M $48.20M
Other Short-Term Assets $21.10M $30.20M
YoY Change -30.13% 9.82%
Inventory
Prepaid Expenses
Receivables $16.10M $9.864M
Other Receivables $0.00 $0.00
Total Short-Term Assets $87.73M $104.7M
YoY Change -16.2% -18.1%
LONG-TERM ASSETS
Property, Plant & Equipment $119.7M $113.4M
YoY Change 5.62% 7.93%
Goodwill $9.005M $20.58M
YoY Change -56.24% 0.0%
Intangibles
YoY Change
Long-Term Investments $4.984M $3.946M
YoY Change 26.31% -6.23%
Other Assets $13.34M $10.53M
YoY Change 26.64% 7.09%
Total Long-Term Assets $142.1M $167.2M
YoY Change -14.98% 6.22%
TOTAL ASSETS
Total Short-Term Assets $87.73M $104.7M
Total Long-Term Assets $142.1M $167.2M
Total Assets $229.9M $271.9M
YoY Change -15.45% -4.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.096M $14.14M
YoY Change -42.73% 2.15%
Accrued Expenses $8.675M $5.365M
YoY Change 61.7% -27.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $600.0K
YoY Change 33.33% 20.0%
Total Short-Term Liabilities $81.36M $91.01M
YoY Change -10.6% -4.63%
LONG-TERM LIABILITIES
Long-Term Debt $43.60M $32.10M
YoY Change 35.83% -2.13%
Other Long-Term Liabilities $10.74M $9.085M
YoY Change 18.19% -10.09%
Total Long-Term Liabilities $10.74M $9.085M
YoY Change 18.19% -10.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.36M $91.01M
Total Long-Term Liabilities $10.74M $9.085M
Total Liabilities $148.8M $143.9M
YoY Change 3.41% -3.79%
SHAREHOLDERS EQUITY
Retained Earnings -$2.016M $48.34M
YoY Change -104.17% -7.49%
Common Stock $180.5M $176.5M
YoY Change 2.23% 1.93%
Preferred Stock
YoY Change
Treasury Stock (at cost) $97.39M $96.89M
YoY Change 0.52% 7.95%
Treasury Stock Shares 6.865M shares 6.761M shares
Shareholders Equity $81.10M $128.0M
YoY Change
Total Liabilities & Shareholders Equity $229.9M $271.9M
YoY Change -15.45% -4.68%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$32.00M $555.0K
YoY Change -5866.13% -134.26%
Depreciation, Depletion And Amortization $4.100M $4.380M
YoY Change -6.39% -8.18%
Cash From Operating Activities $1.060M $6.740M
YoY Change -84.27% 3.22%
INVESTING ACTIVITIES
Capital Expenditures -$2.280M -$12.49M
YoY Change -81.75% 387.89%
Acquisitions
YoY Change
Other Investing Activities $9.870M -$2.220M
YoY Change -544.59% -35.65%
Cash From Investing Activities $7.600M -$14.70M
YoY Change -151.7% 145.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -680.0K -8.710M
YoY Change -92.19% 186.51%
NET CHANGE
Cash From Operating Activities 1.060M 6.740M
Cash From Investing Activities 7.600M -14.70M
Cash From Financing Activities -680.0K -8.710M
Net Change In Cash 7.980M -16.67M
YoY Change -147.87% 564.14%
FREE CASH FLOW
Cash From Operating Activities $1.060M $6.740M
Capital Expenditures -$2.280M -$12.49M
Free Cash Flow $3.340M $19.23M
YoY Change -82.63% 111.55%

Facts In Submission

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CY2016Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25663000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24722000 USD
CY2015Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 USD
CY2016Q1 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
27949000 USD
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
27949000 USD
CY2015Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
766000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
2632000 USD
CY2016Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-2219000 USD
us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-3136000 USD
CY2015Q1 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
594000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
626000 USD
CY2016Q1 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
46000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
51000 USD
CY2015Q1 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
44000 USD
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
88000 USD
CY2016Q1 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
37000 USD
us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
16000 USD
CY2015Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
231000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
526000 USD
CY2016Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-150000 USD
us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-158000 USD
us-gaap Income Taxes Paid
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6662000 USD
us-gaap Income Taxes Paid
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1443000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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-6135000 USD
us-gaap Increase Decrease In Deferred Revenue
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-5685000 USD
us-gaap Increase Decrease In Deferred Revenue
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-5263000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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-5005000 USD
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
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-4648000 USD
us-gaap Increase Decrease In Other Operating Assets
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640000 USD
us-gaap Increase Decrease In Other Operating Assets
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68000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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158000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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490000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
214000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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957000 USD
us-gaap Increase Decrease In Receivables
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-2616000 USD
us-gaap Increase Decrease In Receivables
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-9000000 USD
us-gaap Increase Decrease In Restricted Cash
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1950000 USD
us-gaap Increase Decrease In Restricted Cash
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-3393000 USD
CY2015Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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88000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
94000 shares
CY2016Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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0 shares
CY2015Q1 us-gaap Interest Income Expense Net
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-481000 USD
us-gaap Interest Income Expense Net
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-980000 USD
CY2016Q1 us-gaap Interest Income Expense Net
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-797000 USD
us-gaap Interest Income Expense Net
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-1614000 USD
us-gaap Interest Paid
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1121000 USD
us-gaap Interest Paid
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1725000 USD
CY2015Q3 us-gaap Liabilities
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160827000 USD
CY2016Q1 us-gaap Liabilities
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148763000 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
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274302000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
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229862000 USD
CY2015Q3 us-gaap Liabilities Current
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96494000 USD
CY2016Q1 us-gaap Liabilities Current
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81359000 USD
CY2015Q1 us-gaap Loan Processing Fee
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400000 USD
us-gaap Loan Processing Fee
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800000 USD
CY2016Q1 us-gaap Loan Processing Fee
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300000 USD
us-gaap Loan Processing Fee
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800000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-11401000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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-1818000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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-19952000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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15298000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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8735000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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-2485000 USD
CY2015Q1 us-gaap Net Income Loss
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555000 USD
us-gaap Net Income Loss
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3649000 USD
CY2016Q1 us-gaap Net Income Loss
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-32002000 USD
us-gaap Net Income Loss
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-33682000 USD
CY2015Q1 us-gaap Nonoperating Income Expense
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-212000 USD
us-gaap Nonoperating Income Expense
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-481000 USD
CY2016Q1 us-gaap Nonoperating Income Expense
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-569000 USD
us-gaap Nonoperating Income Expense
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-997000 USD
CY2015Q1 us-gaap Operating Expenses
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88833000 USD
us-gaap Operating Expenses
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178913000 USD
CY2016Q1 us-gaap Operating Expenses
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93962000 USD
us-gaap Operating Expenses
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185928000 USD
CY2015Q1 us-gaap Operating Income Loss
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2402000 USD
us-gaap Operating Income Loss
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8002000 USD
CY2016Q1 us-gaap Operating Income Loss
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-5770000 USD
CY2016Q1 us-gaap Preferred Stock Shares Issued
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0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2015Q3 us-gaap Preferred Stock Value
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0 USD
CY2016Q1 us-gaap Preferred Stock Value
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0 USD
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
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17761000 USD
CY2016Q1 us-gaap Prepaid Expense And Other Assets Current
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18675000 USD
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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228000 USD
us-gaap Operating Income Loss
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-7963000 USD
CY2015Q3 us-gaap Other Assets Noncurrent
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11912000 USD
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13339000 USD
CY2015Q3 us-gaap Other Liabilities Current
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3148000 USD
CY2016Q1 us-gaap Other Liabilities Current
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3008000 USD
CY2015Q3 us-gaap Other Liabilities Noncurrent
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9458000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
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10738000 USD
CY2015Q1 us-gaap Other Nonoperating Income Expense
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133000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
245000 USD
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
124000 USD
us-gaap Other Nonoperating Income Expense
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378000 USD
us-gaap Payments For Repurchase Of Equity
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6119000 USD
us-gaap Payments For Repurchase Of Equity
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0 USD
us-gaap Payments Of Dividends
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4896000 USD
us-gaap Payments Of Dividends
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1457000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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36000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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7000 USD
us-gaap Payments To Acquire Businesses Gross
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0 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1500000 USD
CY2016Q1 us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
2000000 USD
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
1500000 USD
us-gaap Payments To Acquire Held To Maturity Securities
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24425000 USD
us-gaap Payments To Acquire Held To Maturity Securities
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0 USD
us-gaap Payments To Acquire Intangible Assets
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0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
250000 USD
us-gaap Payments To Acquire Interest In Joint Venture
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0 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
1000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16215000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4905000 USD
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
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0 shares
us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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240000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
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22407000 USD
us-gaap Proceeds From Sale And Maturity Of Held To Maturity Securities
ProceedsFromSaleAndMaturityOfHeldToMaturitySecurities
19320000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
284390000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
285952000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
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124144000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
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119746000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
307000 USD
us-gaap Provision For Doubtful Accounts
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752000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
350000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
354000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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5824000 USD
CY2016Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2415000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
32638000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-2016000 USD
CY2015Q1 us-gaap Sales Revenue Net
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91235000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
186915000 USD
CY2016Q1 us-gaap Sales Revenue Net
SalesRevenueNet
88192000 USD
us-gaap Sales Revenue Net
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177965000 USD
CY2015Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
40690000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
82940000 USD
CY2016Q1 us-gaap Selling General And Administrative Expense
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44192000 USD
us-gaap Selling General And Administrative Expense
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86506000 USD
us-gaap Share Based Compensation
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2198000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
2286000 USD
us-gaap Stock Issued During Period Value Share Based Compensation Gross
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0 USD
CY2011Q4 us-gaap Stock Repurchase Program Authorized Amount1
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25000000 USD
us-gaap Stock Repurchased During Period Shares
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1677570 shares
us-gaap Stock Repurchased During Period Value
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15300000 USD
CY2015Q3 us-gaap Stockholders Equity
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113475000 USD
CY2016Q1 us-gaap Stockholders Equity
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81099000 USD
us-gaap Treasury Stock Acquired Average Cost Per Share
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9.09
CY2015Q3 us-gaap Treasury Stock Shares
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6864897 shares
CY2016Q1 us-gaap Treasury Stock Shares
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6864897 shares
CY2015Q3 us-gaap Treasury Stock Value
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97388000 USD
CY2016Q1 us-gaap Treasury Stock Value
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97388000 USD
CY2015Q3 us-gaap Valuation Allowances And Reserves Balance
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401000 USD
CY2016Q1 us-gaap Valuation Allowances And Reserves Balance
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28350000 USD
us-gaap Valuation Allowances And Reserves Deductions
ValuationAllowancesAndReservesDeductions
0 USD
us-gaap Valuation Allowances And Reserves Period Increase Decrease
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27949000 USD
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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24551000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24741000 shares
CY2016Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24270000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24252000 shares
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24463000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24647000 shares
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24270000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24252000 shares
CY2015Q3 uti Accrued Tool Sets
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3624000 USD
CY2016Q1 uti Accrued Tool Sets
AccruedToolSets
3372000 USD
uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
114966000 USD
CY2015Q1 uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
4923000 USD
CY2016Q1 uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
3681000 USD
uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
8792000 USD
uti Aggregate Tuition And Interest Income Excluded During Period
AggregateTuitionAndInterestIncomeExcludedDuringPeriod
10266000 USD
CY2016Q1 uti Amount Of Loans Committed To Provide
AmountOfLoansCommittedToProvide
130.8 USD
CY2014Q3 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
70759000 USD
CY2015Q1 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
74665000 USD
CY2015Q3 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
74664000 USD
CY2016Q1 uti Amounts Outstanding Under Our Proprietary Loan Program
AmountsOutstandingUnderOurProprietaryLoanProgram
75487000 USD
uti Capital Lease Obligations Incurredon Buildings During Construction Periods
CapitalLeaseObligationsIncurredonBuildingsDuringConstructionPeriods
-4825000 USD
uti Capital Lease Obligations Incurredon Buildings During Construction Periods
CapitalLeaseObligationsIncurredonBuildingsDuringConstructionPeriods
0 USD
uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
-890000 USD
uti Change In Accrued Capital Expenditures
ChangeInAccruedCapitalExpenditures
-1509000 USD
uti Common Stock Number Of Voting Rights Per Share
CommonStockNumberOfVotingRightsPerShare
1
uti Construction In Progress Financed By Construction Liability
ConstructionInProgressFinancedByConstructionLiability
6172000 USD
uti Construction In Progress Financed By Construction Liability
ConstructionInProgressFinancedByConstructionLiability
0 USD
CY2015Q3 uti Deferred Tax Assets Tax Deferred Expense Accruedtoolsets
DeferredTaxAssetsTaxDeferredExpenseAccruedtoolsets
1460000 USD
CY2016Q1 uti Deferred Tax Assets Tax Deferred Expense Accruedtoolsets
DeferredTaxAssetsTaxDeferredExpenseAccruedtoolsets
1355000 USD
CY2015Q1 uti Depreciationontrainingequipmentobtainedinexchangeforservices
Depreciationontrainingequipmentobtainedinexchangeforservices
300000 USD
uti Depreciationontrainingequipmentobtainedinexchangeforservices
Depreciationontrainingequipmentobtainedinexchangeforservices
600000 USD
uti Depreciationontrainingequipmentobtainedinexchangeforservices
Depreciationontrainingequipmentobtainedinexchangeforservices
600000 USD
CY2016Q1 uti Depreciationontrainingequipmentobtainedinexchangeforservices
Depreciationontrainingequipmentobtainedinexchangeforservices
300000 USD
uti Depreciationontrainingequipmentobtainedinexchangeforservices
Depreciationontrainingequipmentobtainedinexchangeforservices
600000 USD
uti Depreciationontrainingequipmentobtainedinexchangeforservices
Depreciationontrainingequipmentobtainedinexchangeforservices
602000 USD
CY2015Q1 uti Educational Services And Facilities
EducationalServicesAndFacilities
48143000 USD
uti Educational Services And Facilities
EducationalServicesAndFacilities
95973000 USD
CY2016Q1 uti Educational Services And Facilities
EducationalServicesAndFacilities
49770000 USD
uti Educational Services And Facilities
EducationalServicesAndFacilities
99422000 USD
CY2015Q1 uti Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
6000 USD
uti Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
17000 USD
CY2016Q1 uti Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
0 USD
uti Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
Equityinterestininvesteesunrealizedgainsonhedgingderivativesnetoftaxes
-1000 USD
uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
150000 USD
uti Increase Decrease In Accrued Tool Sets And Other Current Liabilities
IncreaseDecreaseInAccruedToolSetsAndOtherCurrentLiabilities
184000 USD
uti Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
58000 USD
uti Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-910000 USD
uti Loans Extended During Period Under Our Proprietary Loan Program
LoansExtendedDuringPeriodUnderOurProprietaryLoanProgram
11244000 USD
uti Loans Extended During Period Under Our Proprietary Loan Program
LoansExtendedDuringPeriodUnderOurProprietaryLoanProgram
10056000 USD
CY2016Q1 uti Number Of Campuses
NumberOfCampuses
12 Campus
uti Proprietary Loan Program Interest Accrued During Period
ProprietaryLoanProgramInterestAccruedDuringPeriod
1421000 USD
uti Proprietary Loan Program Interest Accrued During Period
ProprietaryLoanProgramInterestAccruedDuringPeriod
1863000 USD
CY2015Q1 uti Total Depreciationand Amortization
TotalDepreciationandAmortization
4840000 USD
uti Total Depreciationand Amortization
TotalDepreciationandAmortization
9790000 USD
CY2016Q1 uti Total Depreciationand Amortization
TotalDepreciationandAmortization
4640000 USD
uti Total Depreciationand Amortization
TotalDepreciationandAmortization
9023000 USD
uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
-697000 USD
uti Training Equipment Credits Earned Used
TrainingEquipmentCreditsEarnedUsed
-348000 USD
uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
220000 USD
uti Training Equipment Obtained In Exchange For Services
TrainingEquipmentObtainedInExchangeForServices
1553000 USD
uti Tuition And Interest Amounts Written Off
TuitionAndInterestAmountsWrittenOff
-6248000 USD
uti Tuition And Interest Amounts Written Off
TuitionAndInterestAmountsWrittenOff
-7724000 USD
uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
-17291000 USD
CY2015Q1 uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
-1454000 USD
uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
-2511000 USD
CY2016Q1 uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
-1837000 USD
uti Tuition And Interest Income Actual Cash Receipts
TuitionAndInterestIncomeActualCashReceipts
-3372000 USD
uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
132257000 USD
CY2015Q1 uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
6377000 USD
uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
12777000 USD
CY2016Q1 uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
5518000 USD
uti Tuition And Interest Income Excluded
TuitionAndInterestIncomeExcluded
12164000 USD
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the Financial Accounting Standards Board (FASB) issued guidance intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. The guidance is effective for annual periods, including interim</font><font style="font-family:inherit;font-size:12pt;"> </font><font style="font-family:inherit;font-size:10pt;">periods within those periods, beginning after December 15, 2016, with early adoption permitted. We are currently evaluating the impact that the update will have on our results of operations, financial condition and financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued guidance</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">requiring lessees to recognize a right-of-use asset and a lease liability on the balance sheet for substantially all leases, with the exception of short-term leases. Leases will be classified as either financing or operating, with classification affecting the pattern of expense recognition in the statement of income. The guidance is effective for annual periods, including interim periods within those periods, beginning after December 15, 2018 with early adoption permitted. We are currently evaluating the impact that the update will have on our results of operations, financial condition and financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In January 2016, the FASB issued guidance related to the classification and measurement of financial instruments. The guidance primarily impacts the accounting for equity investments other than those accounted for using the equity method of accounting, financial liabilities under the fair value option and the presentation and disclosure requirements for financial instruments. Additionally, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. The accounting for other financial instruments, such as loans, investments in debt securities and financial liabilities is largely unchanged. The guidance is effective for annual periods, including interim periods within those periods, beginning after December 15, 2017 with early adoption permitted. We are currently evaluating the adoption methods and the impact that the update will have on our results of operations, financial condition and financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In November 2015, the FASB issued guidance which simplifies the balance sheet classification of deferred taxes. The guidance requires that all deferred tax assets and liabilities, along with any related valuation allowance, be classified as noncurrent on the balance sheet. This guidance is effective for public business entities for annual periods, and for interim periods within those periods, beginning after December 15, 2016 with early adoption permitted. While the guidance will have an impact on our balance sheet classification, we do not anticipate it will have a material impact on our results of operations, financial condition or the financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In April 2015, the FASB issued guidance related to customers accounting for fees paid in a cloud computing arrangement. The guidance provides clarification on whether a cloud computing arrangement includes a software license. If an arrangement includes a software license, then the software license element is accounted for consistent with the acquisition of other such licenses. If the arrangement does not include a software license, the arrangement is accounted for as a service contract. Entities have the option of adopting the guidance retrospectively or prospectively. The guidance is effective for annual periods, including interim periods within those periods, beginning after December 15, 2015 with early adoption permitted. We are currently evaluating both the adoption method and the impact that the update will have on our results of operations, financial condition and the financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2015, the FASB issued guidance which changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. Specifically, the amendments (1) modify the evaluation of whether limited partnerships with similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. Entities have the option of using a full or modified retrospective approach to adopt the guidance. This guidance is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015 with early adoption permitted. We do not anticipate it will have a material impact on our results of operations, financial condition or the financial statement disclosures.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the FASB issued guidance which outlines a single comprehensive revenue model for entities to use in accounting for revenue arising from contracts with customers. The guidance supersedes most current revenue recognition guidance, including industry-specific guidance, and requires a company to recognize revenue to depict the transfer of goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Entities have the option of using either a full retrospective or modified approach to adopt the guidance. In June 2015, the FASB deferred the effective date of the guidance by one year. This guidance is now effective for annual and interim reporting periods beginning after December&#160;15, 2017, and early adoption is now permitted for annual and interim reporting periods beginning after December 15, 2016. In March and April 2016, the FASB issued further guidance that clarifies certain implementation issues related to revenue recognition, including principal versus agent considerations, the identification of performance obligations and licensing. These additional updates have the same effective date as the new revenue guidance. We are currently evaluating the adoption methods and the impact that the update will have on our results of operations, financial condition and financial statement disclosures.</font></div></div>
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are the leading provider of postsecondary education for students seeking careers as professional automotive, diesel, collision repair, motorcycle and marine technicians as measured by total average undergraduate full-time student enrollment and graduates. We offer undergraduate degree or diploma programs at </font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;"> campuses across the United States under the banner of several well-known brands, including Universal Technical Institute, Motorcycle Mechanics Institute and Marine Mechanics Institute and NASCAR Technical Institute. We also offer manufacturer specific advanced training (MSAT) programs, including student-paid electives, at our campuses and manufacturer or dealer sponsored training at certain campuses and dedicated training centers.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We work closely with leading original equipment manufacturers (OEMs) in the automotive, diesel, motorcycle and marine industries to understand their needs for qualified service professionals. Revenues generated from our schools consist primarily of tuition and fees paid by students. To pay for a substantial portion of their tuition, the majority of students rely on funds received from federal financial aid programs under Title IV Programs of the Higher Education Act of 1965, as amended, as well as from various veterans benefits programs. For further discussion, see Note 2 "Summary of Significant Accounting Policies - Concentration of Risk" and Note 18 &#8220;Government Regulation and Financial Aid&#8221; included in our 2015 Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on December 2, 2015.</font></div></div>

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