LOPE Stock Cash Flow Statements

Grand Canyon Education Quarterly Cash Flow Statements Chart

Quarterly

Annual

Stock-Based Compensation

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Free Cash Flow

Capital Expenditure

Grand Canyon Education Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31

cash flows from operating activities:
net income	41,546,000	71,618,000	81,879,000	41,467,000	34,878,000	68,010,000	80,709,000	35,739,000	28,973,000	59,564,000	71,027,000	30,008,000	25,562,000	58,078,000	85,113,000	47,658,000	49,461,000	78,112,000	86,755,000	52,046,000	47,010,000	71,385,000	76,669,000	58,151,000	51,112,000	73,243,000	75,531,000	33,761,000	46,038,000	73,681,000	68,256,000	39,304,000	39,847,000	55,912,000	47,979,000	29,244,000	27,626,000	43,665,000	38,114,000	33,342,000	25,776,000	34,179,000	33,093,000	29,016,000	23,069,000	26,288,000	26,157,000	22,545,000	19,064,000	20,945,000	20,909,000	18,471,000	15,598,000	14,469,000	10,666,000	13,258,000	11,298,000	7,571,000	12,918,000	12,396,000	11,480,000	11,095,000	3,491,000	5,814,000	6,904,000
adjustments to reconcile net income to net cash from operating activities:
share-based compensation	3,487,000	3,630,000	3,370,000	3,376,000	3,996,000	3,483,000	3,246,000	3,336,000	3,253,000	3,369,000	3,158,000	3,123,000	3,171,000	3,190,000	2,811,000	2,756,000	2,940,000	3,019,000	2,616,000	2,713,000	2,678,000	2,656,000	2,560,000	2,555,000	2,549,000	2,636,000	2,442,000	10,332,000	3,265,000	3,469,000	3,126,000	3,333,000	3,298,000	2,931,000	3,242,000	3,203,000	2,933,000	2,898,000	2,834,000	2,911,000	2,909,000	2,603,000	2,533,000	2,575,000	2,633,000	2,204,000	2,268,000	2,763,000	2,735,000	2,170,000	2,063,000	2,032,000	2,022,000	1,694,000	1,667,000	1,700,000	1,430,000	1,364,000	1,347,000	1,301,000	1,037,000	980,000	862,000	813,000	764,000
depreciation and amortization	7,809,000	7,451,000	7,428,000	7,126,000	6,928,000	6,653,000	6,560,000	6,055,000	5,402,000	5,537,000	5,735,000	5,671,000	5,628,000	5,724,000	5,593,000	5,580,000	5,395,000	5,426,000	5,394,000	5,539,000	5,311,000	4,989,000	4,875,000	4,756,000	4,651,000	4,414,000	3,890,000	3,812,000	14,024,000	13,947,000	13,761,000	13,611,000	13,589,000	13,267,000	12,939,000	11,499,000	10,778,000	10,467,000	10,315,000	8,973,000	8,233,000	8,154,000	8,055,000	7,418,000	7,071,000	6,929,000	6,835,000	6,461,000	6,190,000	5,951,000	6,139,000	5,620,000	5,132,000	5,032,000	4,228,000	4,000,000	3,826,000	3,557,000	3,242,000	2,648,000	2,661,000	2,178,000	2,396,000	1,754,000	1,632,000
amortization of intangible assets	2,105,000	2,105,000	2,104,000	2,105,000	2,105,000	2,105,000	2,104,000	2,105,000	2,105,000	2,105,000	2,104,000	2,105,000	2,105,000	2,105,000	2,104,000	2,105,000	2,105,000	2,105,000	2,104,000	2,105,000	2,105,000	2,105,000	2,179,000	2,179,000	2,179,000	1,686,000
deferred income taxes	-789,000	2,446,000	395,000	-826,000	-1,458,000	1,724,000	-115,000	-643,000	-656,000	1,816,000	33,000	-364,000	-748,000	1,480,000	3,341,000	496,000	61,000	1,776,000	1,000,000	670,000	-222,000	1,688,000	-203,000	500,000	-1,482,000	2,855,000	2,044,000	-14,797,000	-682,000	1,928,000	-8,973,000	441,000	-351,000	3,723,000	6,300,000	-346,000	-232,000	2,710,000	5,881,000	-228,000	-2,078,000	1,001,000	2,788,000	725,000	-2,012,000	1,150,000	3,068,000	1,354,000	-689,000	1,739,000	1,634,000	35,000	-1,940,000	-247,000	7,304,000	1,877,000	1,004,000			-5,947,000	-27,000	52,000	-1,279,000	-1,217,000	-79,000
other, including fixed asset disposals	-395,000	-207,000		-286,000	-249,000	-208,000
changes in assets and liabilities:
accounts receivable from university partners	87,997,000	-32,748,000	33,440,000	-86,934,000	82,256,000	-32,899,000	25,664,000	-79,793,000	77,889,000	-25,158,000																-24,722,000
other assets	-283,000	-4,449,000	-69,000	1,988,000	3,008,000	-3,757,000	-485,000	178,000	3,293,000	-4,625,000	-1,316,000	1,883,000	2,141,000	-5,312,000	2,195,000	1,524,000	2,191,000	-6,166,000	5,400,000	-787,000
right-of-use assets and lease liabilities	101,000	278,000	503,000	537,000	424,000	335,000	701,000	617,000	368,000	419,000	493,000	378,000	143,000	179,000	100,000	208,000	72,000	165,000	484,000	588,000	535,000	544,000	414,000	272,000	67,000	80,000
accounts payable	-582,000	-2,023,000	-1,046,000	5,724,000	-6,984,000	11,970,000	-7,003,000	1,571,000	370,000	1,953,000	1,874,000	517,000	-11,712,000	5,427,000	-16,095,000	16,834,000	5,682,000	971,000	1,062,000	-2,896,000	-1,111,000	3,957,000	-4,580,000	1,587,000	4,801,000	-4,903,000	-2,368,000	-10,565,000	-1,936,000	563,000	1,371,000	5,715,000	-2,750,000	1,042,000	-1,037,000	-1,370,000	4,628,000	-7,014,000	3,602,000	2,483,000	-918,000	-165,000	508,000	-1,805,000	551,000	-1,702,000	6,704,000	1,740,000	-1,993,000	2,112,000	332,000	665,000	-2,369,000	742,000	-3,239,000	-752,000	5,748,000	-2,807,000	2,255,000	1,150,000	1,912,000	-2,085,000	1,298,000	507,000	2,435,000
accrued liabilities	8,572,000	-5,558,000	2,505,000	-6,587,000	8,385,000	-51,000	-1,064,000	-450,000	5,834,000	-6,294,000	-3,185,000	-3,406,000	3,191,000	2,377,000	-9,210,000	8,331,000	-5,687,000	10,714,000	-1,015,000	10,361,000	3,294,000	5,972,000	-5,052,000	8,384,000	941,000	805,000																															-513,000			3,458,000	5,024,000	19,000	7,180,000	-532,000	2,261,000
income taxes receivable/payable	-30,629,000	16,007,000	9,758,000	3,721,000	-31,672,000	17,328,000	12,613,000	5,283,000	-32,566,000	14,225,000	12,931,000	5,383,000	-29,629,000	16,074,000	6,315,000	-419,000	-21,692,000	16,305,000	8,091,000	-40,576,000	13,032,000	19,174,000	4,553,000	3,215,000	-23,455,000	14,643,000	7,225,000	-1,522,000	-29,174,000	14,809,000	7,892,000	7,114,000	-15,612,000	16,654,000	6,577,000	4,480,000	-21,092,000	21,927,000	-4,174,000	423,000	-14,722,000	13,508,000	-2,404,000	1,826,000	1,852,000	15,104,000	-3,714,000	3,787,000	-9,746,000	1,904,000	-1,871,000	3,443,000	2,465,000	16,556,000	-1,947,000	-4,371,000	6,666,000					2,218,000	1,315,000
deferred revenue	5,069,000	9,081,000		-796,000	-3,054,000	10,270,000		-2,873,000	-568,000	9,678,000	-6,102,000	-5,856,000	-214,000	12,162,000		-6,556,000	2,824,000	6,936,000		2,531,000	-464,000	8,153,000	-9,181,000	-840,000	4,873,000	5,123,000	0	1,000	-17,806,000	24,686,000	-69,543,000	64,434,000	-17,755,000	29,020,000	-63,955,000	57,474,000	-10,355,000	19,699,000	-48,836,000	44,303,000	-10,998,000	16,539,000	-40,040,000	35,222,000	-5,014,000	13,884,000	-25,687,000	26,918,000	-7,378,000	10,349,000	-18,065,000	15,573,000	-2,373,000	11,756,000	12,957,000	3,326,000	3,429,000
net cash from operating activities	124,008,000	67,631,000	135,817,000	-29,385,000	98,563,000	84,963,000	116,385,000	-29,851,000	94,129,000	62,999,000	110,349,000	-35,619,000	75,829,000	70,260,000	104,224,000	-1,434,000	120,502,000	89,827,000	128,740,000	-40,969,000	135,333,000	85,719,000	111,210,000	5,799,000	112,998,000	76,337,000	102,549,000	-47,126,000	24,654,000	119,008,000	34,971,000	136,267,000	24,004,000	109,656,000	3,835,000	100,427,000	17,706,000	96,318,000	4,890,000	87,343,000	13,478,000	68,189,000	10,254,000	67,302,000	35,769,000	53,671,000	16,663,000	57,750,000	12,323,000	31,713,000	19,462,000	45,159,000	34,396,000	45,179,000	29,465,000	12,613,000	23,413,000	3,570,000	50,407,000	-18,953,000	49,080,000	-5,644,000	39,829,000	-9,593,000	36,575,000
cash flows used in investing activities:
capital expenditures	-8,613,000	-8,948,000	-9,747,000	-9,568,000	-8,954,000	-8,979,000	-10,351,000	-16,587,000	-9,012,000	-8,587,000	-8,931,000	-11,165,000	-8,352,000	-6,784,000	-7,523,000	-5,595,000	-6,846,000	-8,911,000	-7,262,000	-9,927,000	-6,144,000	-6,085,000	-7,213,000	-5,522,000	-5,070,000	-4,586,000	-4,375,000	-11,316,000	-43,663,000	-35,173,000	-37,982,000	-25,113,000	-28,762,000	-21,729,000	-20,708,000	-41,969,000	-65,834,000	-49,781,000	-35,012,000	-57,803,000	-66,166,000	-45,737,000	-27,429,000	-59,204,000	-54,799,000	-27,214,000	-19,780,000	-21,160,000	-23,304,000	-14,704,000	-24,034,000	-23,165,000	-33,578,000	-16,876,000	-23,239,000	-23,608,000	-14,668,000	-23,032,000	-17,240,000	-10,764,000	-11,591,000	-5,879,000	-7,770,000	-6,611,000	-4,500,000
free cash flows	115,395,000	58,683,000	126,070,000	-38,953,000	89,609,000	75,984,000	106,034,000	-46,438,000	85,117,000	54,412,000	101,418,000	-46,784,000	67,477,000	63,476,000	96,701,000	-7,029,000	113,656,000	80,916,000	121,478,000	-50,896,000	129,189,000	79,634,000	103,997,000	277,000	107,928,000	71,751,000	98,174,000	-58,442,000	-19,009,000	83,835,000	-3,011,000	111,154,000	-4,758,000	87,927,000	-16,873,000	58,458,000	-48,128,000	46,537,000	-30,122,000	29,540,000	-52,688,000	22,452,000	-17,175,000	8,098,000	-19,030,000	26,457,000	-3,117,000	36,590,000	-10,981,000	17,009,000	-4,572,000	21,994,000	818,000	28,303,000	6,226,000	-10,995,000	8,745,000	-19,462,000	33,167,000	-29,717,000	37,489,000	-11,523,000	32,059,000	-16,204,000	32,075,000
additions of amortizable content	-8,000	-20,000	-185,000	-57,000	-98,000	-72,000	-88,000	-321,000	-244,000	-244,000	-103,000	-180,000	-19,000	-95,000	-106,000	-138,000	-181,000	-90,000	-286,000	-91,000	-91,000	-56,000	-69,000	37,000	-71,000	-157,000
purchase of equity investment	0	-1,000,000
loss on equity investment
purchases of investments	-31,746,000	-159,920,000	0	0	-29,213,000	-19,381,000	-25,391,000	345,000	-21,251,000	-52,556,000	-39,453,000	-40,735,000	-28,527,000	-62,834,000	0	-5,112,000	-19,886,000	-31,337,000					-7,689,000	77,000	0	-1,772,000	-15,493,000	-10,190,000	-4,143,000	-17,122,000	-17,424,000	-24,449,000	-25,649,000	-26,532,000	-14,560,000	-8,572,000	-12,337,000	-13,688,000	-12,575,000	-10,524,000	-14,313,000	-10,710,000	-13,734,000	-13,968,000	-24,506,000	-62,711,000	-67,913,000	-45,821,000	-31,409,000	-23,810,000															-11,000
proceeds from sale or maturity of investments			0	100,911,000	23,536,000	23,172,000	25,888,000	-5,910,000	19,584,000	24,253,000	46,666,000	36,379,000			0	49,626,000	11,647,000	5,519,000	1,938,000	1,854,000	2,536,000	4,263,000	206,000	60,000	145,000	56,752,000	14,555,000	17,565,000	19,052,000	13,944,000	15,642,000	24,254,000	17,792,000	7,571,000	4,118,000	8,358,000	44,525,000	12,924,000	13,227,000	10,041,000	31,795,000	10,479,000	40,076,000	43,334,000	25,480,000	13,665,000	22,985,000	30,768,000										0	0	0	487,000
net cash from investing activities	-28,860,000	-169,888,000	-9,932,000	91,286,000	-14,729,000	-5,260,000	-9,942,000	-22,473,000	-10,923,000	-37,134,000	-1,821,000	-15,701,000	-9,904,000	-69,713,000	962,283,000	228,781,000	-205,266,000	-34,819,000	-5,610,000	66,836,000	-78,699,000	-1,878,000	25,235,000	54,652,000	-144,910,000	-340,852,000	-22,506,000	-148,294,000	-28,910,000	-38,525,000	-39,980,000	-25,401,000	-38,095,000	-48,588,000	-50,001,000	-59,290,000	-50,697,000	-56,013,000	-47,943,000	-58,286,000	-48,684,000	-45,968,000	-1,087,000	-29,838,000	-53,825,000	-76,260,000	-67,956,000	-40,486,000	-53,291,000	-10,765,000	-57,289,000	-23,983,000	-39,059,000	-11,215,000	-25,026,000	-19,368,000	-11,915,000	-20,095,000	-42,457,000	-35,219,000	-14,035,000	-5,438,000	-5,259,000	-44,400,000	-3,324,000
cash flows used in financing activities:
repurchase of common shares and shares withheld in lieu of income taxes	-47,379,000	-77,857,000	-64,846,000	-39,634,000	-38,725,000	-29,970,000	-16,839,000	-33,730,000	-45,321,000	-41,234,000	-28,006,000	-48,194,000	-128,457,000	-399,555,000
net cash from financing activities	-47,379,000	-77,857,000	-64,846,000	-39,634,000	-38,725,000	-29,970,000	-16,839,000	-33,730,000	-45,321,000	-41,234,000	-28,006,000	-48,194,000	-128,457,000	-399,555,000	-526,568,000	-235,793,000	-71,617,000	-74,948,000	-44,311,000	-31,449,000	-16,595,000	-73,920,000	-133,882,000	-6,543,000	9,246,000	171,269,000	-4,576,000	-7,541,000	-1,899,000	-12,829,000	-2,729,000	-842,000	930,000	-33,092,000	16,999,000	-10,548,000	28,752,000	-14,548,000	-12,088,000	-1,590,000	-240,000	-1,303,000	-411,000	-1,196,000	-859,000	5,894,000	301,000	-1,249,000	4,030,000	1,680,000	73,294,000	-2,292,000	-1,277,000	1,547,000	-92,000	-8,836,000	-14,892,000	-309,000	-899,000	-291,000	267,000	-17,000	14,358,000	10,460,000	-128,000
net increase in cash and cash equivalents and restricted cash	47,769,000	-180,114,000	61,039,000	22,267,000	45,109,000	49,733,000									539,939,000	-8,446,000	-156,381,000	-19,940,000	78,819,000	-5,582,000	40,039,000	9,921,000				-93,246,000	75,467,000	-115,086,000	-94,030,000	67,654,000	-7,738,000	110,024,000	-13,161,000	27,976,000
cash and cash equivalents and restricted cash, beginning of period	0	324,623,000	0	0	0	146,475,000	0	0	0	120,409,000	0	0	0	600,941,000	0	0	0	245,769,000	0	0	0	122,572,000	0	0	0	182,013,000	0	0	0	248,008,000		0	0	130,907,000
cash and cash equivalents and restricted cash, end of period	47,769,000	144,509,000	61,039,000	22,267,000	45,109,000	196,208,000	89,604,000	-86,054,000	37,885,000	105,040,000	80,522,000	-99,514,000	-62,532,000	201,933,000	539,939,000	-8,446,000	-156,381,000	225,829,000	78,819,000	-5,582,000	40,039,000	132,493,000	2,563,000	53,908,000	-22,666,000	88,767,000	75,467,000	-115,086,000	-94,030,000	315,662,000		110,024,000	-13,161,000	158,883,000
supplemental disclosure of cash flow information
cash paid for interest			0	0	2,000	2,000	6,000	1,000	7,000	19,000	-3,000	0			1,298,000	741,000	763,000	895,000	770,000	917,000	1,073,000	1,546,000	3,765,000	2,914,000	3,170,000	1,667,000	773,000	359,000	58,000	321,000		466,000	493,000	674,000		310,000	149,000	332,000		315,000	148,000	386,000		411,000	381,000	535,000		533,000	486,000	573,000		160,000	33,000	253,000	170,000	38,000	107,000		124,000	214,000	195,000		270,000	603,000	673,000
cash paid for income taxes	44,143,000	333,000	13,841,000	7,200,000	43,925,000	295,000	11,372,000	5,194,000	42,230,000	230,000	7,455,000	2,277,000	38,535,000	306,000	13,492,000	11,276,000	36,902,000	230,000	14,267,000	52,264,000	1,600,000	250,000	14,117,000	10,672,000	34,694,000	420,000	9,034,000	24,927,000	43,859,000	375,000		13,695,000	31,280,000	438,000		10,650,000	38,461,000	1,715,000		14,422,000	33,186,000	6,800,000		14,338,000	14,513,000	372,000		11,012,000	22,530,000	10,566,000		9,230,000	9,324,000	1,061,000	997,000	11,574,000	219,000		10,467,000	17,463,000	1,598,000		2,578,000	9,264,000	138,000
supplemental disclosure of non-cash investing and financing activities
purchases of property and equipment included in accounts payable	858,000	444,000	-539,000	-109,000	-378,000	2,091,000	982,000	-717,000	671,000	973,000	-696,000	173,000	212,000	1,442,000	-266,000	1,380,000	-454,000	876,000	184,000	-1,667,000	1,790,000	899,000	-1,327,000	882,000	178,000	736,000	197,000	-13,437,000	1,280,000	13,081,000	245,000	-681,000	1,125,000	5,993,000	-2,989,000	-9,063,000	-3,363,000	23,161,000	-9,935,000	2,589,000	3,012,000	17,611,000	-5,805,000	1,440,000	4,772,000	5,438,000		4,868,000	-2,034,000	4,067,000		4,748,000	-2,507,000	5,395,000	-1,964,000	1,160,000	5,631,000		7,351,000	1,586,000	-1,357,000			383,000	658,000
rou asset and liability recognition			692,000	-3,044,000			2,061,000	13,947,000			-2,367,000	16,931,000	-1,477,000	1,980,000	-407,000	2,058,000	131,000	1,586,000	2,077,000	15,663,000	8,735,000	6,775,000
excise tax on treasury stock repurchases	554,000	533,000	687,000	393,000	388,000	34,000	168,000	337,000	454,000	187,000
other, including impairment and fixed asset disposals
cash flows from investing activities:
insurance receivable for litigation settlement to be paid by insurance						25,500,000
reversal of credit loss reserve
funding to gcu															0	0			0	0
repayment by gcu															969,912,000				0
principal payments on notes payable															-82,915,000	-8,287,000	-8,286,000	-8,286,000	-8,286,000	-8,286,000	-8,286,000	-8,286,000	-20,474,000	82,000	-12,191,000	-59,850,000
net proceeds from exercise of stock options															0	0	0	2,680,000	705,000	104,000	2,000	72,000	85,000	328,000	1,777,000	1,631,000	2,537,000	327,000	849,000	919,000	617,000	860,000	2,773,000	3,122,000	3,191,000	3,044,000	3,513,000	3,459,000	618,000	171,000	965,000	1,735,000	859,000	332,000	1,244,000	5,390,000	1,462,000	744,000	8,213,000	5,859,000	3,710,000	913,000	1,115,000	2,311,000	874,000	590,000	13,000	354,000	438,000	453,000	502,000	530,000	449,000	0	247,000
other, including fixed asset impairments								-976,000	432,000	410,000	-160,000	382,000	-88,000	719,000	199,000	176,000	237,000	65,000	227,000	233,000	-178,000	289,000	34,000	-84,000	-99,000	-186,000									244,000	2,599,000				1,226,000
net decrease in cash and cash equivalents and restricted cash										-15,369,000		-99,514,000	-62,532,000	-399,008,000										53,908,000
accounts receivable and interest receivable from university partners											23,757,000	-75,443,000	76,279,000	-31,943,000	29,952,000	-80,127,000	76,913,000	-29,601,000	26,862,000	-73,496,000	61,835,000	-28,451,000	34,619,000	-74,909,000
allowance for credit losses of 5,000, net of taxes of 1,168 from adoption of asu 2016-13																			0	0	0	3,832,000
net borrowings from revolving line of credit																							-95,000,000	0	20,000,000	6,250,000					0	0	0	-25,000,000
loss on transaction
student deposits																											0	0	15,062,000	-22,350,000	19,187,000	-3,409,000	8,804,000	-15,165,000	15,713,000	-697,000	7,728,000	-13,605,000	10,764,000	1,083,000	5,946,000	-10,635,000	9,112,000	5,605,000	656,000	-12,561,000	14,695,000	-644,000	1,444,000	-6,468,000	-1,185,000	3,682,000	3,345,000	-5,699,000	1,705,000	-104,000	-1,991,000
deferred rent																											0	0	-153,000	-36,000	-98,000	-49,000	-130,000	-92,000	315,000	-255,000	-299,000	-236,000	-387,000	-264,000	-292,000	-268,000	438,000	-2,071,000	-405,000	-260,000	517,000	-275,000	-253,000	-193,000	-109,000	-70,000	60,000	622,000	419,000
acquisition, net of cash acquired																							0	0	0	-361,184,000
cash flows from financing activities:
debt issuance costs																							0	0	0	-2,385,000									0	0	0	-194,000																	0
proceeds from notes payable																							0	0	0	243,750,000
repurchase of common shares including shares withheld in lieu of income taxes															-443,653,000	-192,506,000	-98,331,000	-69,342,000	-36,730,000	-23,267,000	-8,311,000	-65,706,000	-18,493,000	-6,953,000	-340,000	-18,127,000	-5,470,000	-6,225,000	-1,031,000	-12,032,000	-1,643,000	0	-141,000	-9,516,000	-53,000	-782,000	-52,000	-19,175,000	-11,332,000	0	-52,000	-4,178,000		0	-1,095,000	-4,243,000		-518,000	-2,485,000	-6,006,000
lease adoption - recognition of right of use assets and lease liabilities
reclassification of interest rate corridor due to expiration
benefit from bad debts																											0	0	3,672,000	4,997,000	5,127,000	5,521,000	3,447,000	4,383,000	5,827,000	4,849,000	3,443,000	4,520,000	5,208,000	4,000,000	3,444,000	3,968,000	4,210,000	3,774,000	3,266,000	3,795,000	5,016,000	5,396,000	4,544,000	4,941,000	4,520,000	5,621,000	3,749,000	4,122,000	13,317,000	7,598,000	6,988,000	7,013,000	6,074,000	5,499,000	4,774,000	4,085,000	3,344,000	3,292,000	3,295,000
accounts receivable																											0	0	-4,226,000	-3,558,000	-4,253,000	-6,831,000	-5,354,000	-3,410,000	-5,464,000	-6,131,000	-5,069,000	-3,676,000	-4,006,000	-5,342,000	-4,913,000	-3,052,000	-3,526,000	-3,548,000	-4,397,000	-3,962,000	-4,247,000	-4,737,000	-5,538,000	-4,641,000	-3,596,000	-6,133,000	-4,269,000	-150,000	-12,881,000	-7,349,000	-6,023,000	-7,625,000	3,840,000	-38,258,000	-4,862,000	-2,310,000	-8,309,000	-3,395,000	-4,362,000
purchases of land and building improvements related to off-site development																											0	0	-156,000	-174,000
disposition
funding to gcu at closing in excess of required capital																											0
repayment of excess funds by gcu																											0
sale transaction to gcu through secured note financing																											0
reclassification of capitalized costs - adoption of asc 606
reclassification of deferred revenue – adoption of asc 606																											0	0	0	7,451,000
reclassification of tax effect within accumulated other comprehensive income																											0	0
prepaid expenses and other																						-6,742,000	4,323,000	33,000	1,205,000	-3,425,000	2,108,000	-477,000	1,254,000	-1,332,000	617,000	-1,603,000	699,000	-2,112,000	-2,300,000	-3,394,000	3,317,000	404,000	-802,000	-2,922,000	1,656,000	-283,000	398,000	-2,379,000	1,105,000	957,000	-1,462,000	-1,731,000	-2,054,000	-2,069,000	751,000	-825,000	-742,000	-1,104,000	-3,450,000	-1,075,000	-52,000	-1,168,000	-668,000	-1,255,000	-1,655,000	-1,204,000	494,000
funding to gcu for capital expenditures																							0	0	-139,914,000	-29,905,000	-17,193,000
loss on transaction, net of costs and asset impairment																							0	0	-122,000	4,088,000	0
repayment by gcu for capital expenditures																							40,000,000
return of equity method investment																															0				0	0	0	1,749,000
reclassification of capitalized costs – adoption of asc 606																											0	0	0	9,015,000
lease adoption - gross up of right of use assets and lease liabilities																							0	0	0	498,000
rou asset and liability gross up
reclassification of restricted cash to assets held for sale
accounts receivable from gcu																											18,021,000
proceeds received from note receivable																																			0	0	0	501,000									0	0	0	29,187,000
principal payments on notes payable and capital lease obligations																											-1,643,000	-1,643,000	-1,717,000	-1,716,000	-1,703,000	-1,702,000	-1,702,000	-1,698,000	11,303,000	-14,696,000	-1,698,000	-2,133,000	-1,667,000	-1,743,000	-1,698,000	-1,676,000	-1,675,000	-1,675,000	-1,674,000	-1,672,000	-1,665,000	-1,688,000	-1,664,000	-1,672,000	-19,972,000	-473,000	-470,000	-829,000	-964,000	-1,198,000	-694,000	-724,000	-694,000	-788,000	-727,000	-722,000	-717,000	-592,000	-384,000
other																												393,000	479,000	539,000		1,537,000	92,000	122,000				-1,694,000								121,000												90,000	-8,000	-20,000	-39,000	0	0	0	-14,000
accrued liabilities and employee related liabilities																												-11,168,000	-5,163,000	7,665,000		7,149,000	-3,820,000	3,381,000		-354,000	4,642,000	7,331,000		-1,603,000	4,948,000	-4,526,000		-3,697,000	8,506,000	-6,419,000		-5,933,000	7,711,000	-5,531,000		-240,000	12,084,000	-2,798,000	-1,106,000
disposition, net of cash
purchases of land, building and golf course improvements related to off-site development																															-216,000	-778,000	-1,476,000	-7,898,000	-18,851,000	-17,107,000	-17,051,000	-7,718,000
cash and cash equivalents and restricted cash, beginning of year
cash and cash equivalents and restricted cash, end of year
cash paid during the year for interest
cash paid during the year for income taxes
purchases of equipment though capital lease obligations
shortfall tax expense from share-based compensation																																			-4,000	7,000	5,000	252,000	8,000	0	7,000	11,000	2,000	0	5,000	9,000	3,000	1,000	131,000	74,000		75,000	108,000	17,000	70,000
tax benefit of spirit warrant intangible																																			63,000	63,000	64,000	63,000	63,000	61,000	64,000	65,000	65,000	65,000	65,000	65,000	66,000	67,000	67,000	67,000		65,000	75,000	59,000	67,000	57,000	70,000		-99,000	0	259,000		-43,000	-3,793,000	4,107,000
excess tax benefits from share-based compensation																																			-2,558,000	-1,886,000	-1,989,000	-3,495,000	-293,000	18,000	-545,000	-2,816,000	-405,000	-147,000	-666,000	-6,419,000	-791,000	-213,000	34,000	-3,499,000	-1,091,000	-215,000	-56,000	-65,000				-61,000	-139,000	-44,000	-492,000	-183,000	-55,000	0	-9,000
restricted cash, cash equivalents and investments																																			-15,603,000	1,512,000	-8,359,000	12,903,000	-10,647,000	-1,041,000	-5,821,000	9,965,000
due to/from related parties																																			-63,000	0	-6,000	-486,000	293,000	-19,000	-19,000	17,000	-68,000	-29,000	-16,000	62,000	-40,000	37,000	28,000	-94,000	195,000	9,000	40,000	52,000	-1,109,000	-385,000	-8,388,000	5,588,000	2,682,000	-498,000	1,400,000	-1,936,000	1,444,000	-763,000	1,232,000
net increase in cash and cash equivalents																																			-29,167,000	30,589,000	-4,239,000	25,757,000	-55,141,000			20,918,000	8,756,000			-16,695,000	-50,992,000	16,015,000	-36,938,000	22,628,000	35,467,000	18,884,000	-5,940,000	35,511,000			-3,394,000	-16,834,000			35,312,000	-11,099,000			33,123,000
cash and cash equivalents, beginning of year
cash and cash equivalents, end of year
cash received for income tax refunds																																							2,000				21,000	362,000	0	2,000	13,000	711,000	2,000	2,000
proceeds from draw on revolving line of credit																																				0
cash and cash equivalents, beginning of period																																				0	0	23,036,000		0	0	65,238,000		0	0	55,824,000		0	0	105,111,000		0	0	21,189,000	0	0	33,637,000		0	0	62,571,000		0	0	35,152,000
cash and cash equivalents, end of period																																				30,589,000	-4,239,000	48,793,000		27,467,000	-35,446,000	86,156,000		36,268,000	-18,915,000	39,129,000		16,015,000	-36,938,000	127,739,000		18,884,000	-5,940,000	56,700,000	4,347,000	-15,591,000	30,243,000		7,051,000	-54,463,000	97,883,000		48,928,000	-43,533,000	68,275,000
purchases of equipment through capital lease obligations
gain on note receivable
loss on asset disposal and fixed asset impairments
prepaid royalty impairment																																											0	0	0	966,000
restricted funds held for derivative collateral and legal matter																																																			150,000	0
purchases of equipment through capital lease and note payable obligations
net decrease in cash and cash equivalents																																																							4,347,000
amortization of notes payable issuance costs
purchase of land and building related to off-site development
investment in note receivable secured by real estate
notes payable modification costs
repurchase of common shares including share withheld in lieu of income taxes
gain on proceeds received from note receivable																																																-1,459,000	0	-2,187,000
other including fixed asset impairments																																												385,000
restricted cash and cash equivalents																																												-5,568,000	-2,399,000	13,534,000	-14,653,000	1,741,000	-1,776,000	6,284,000	1,063,000	-2,545,000
restricted funds held for derivative collateral																																																0
purchase of land and building related to offsite development
loss on asset disposal																																																			904,000	20,000	0	182,000
exit costs																																																							0	-40,000	-24,000	-223,000	-64,000	-2,000	-479,000
lease termination fees
accrued litigation loss
purchase of equipment through notes payable and capital lease obligations																																																															0
purchases of property and equipment included in accounts payable and deferred rent
amortization of debt issuance costs																																																				16,000	17,000	15,000	12,000	15,000	15,000		16,000	16,000	16,000
purchase of land and building related to future development																																																	-5,498,000	-1,438,000	-6,405,000
non-capitalizable system conversion costs																																																										0	0
repurchase of common shares																																																			-10,317,000	-2,947,000			-2,000								0
litigation settlement																																																							0
lease termination fee
change in restricted cash and cash equivalents																																																						5,661,000	-1,787,000	4,240,000	2,753,000	2,937,000	-25,217,000	-24,455,000	-2,931,000	441,000	2,511,000	-2,295,000	1,187,000
purchase of treasury stock																																																									-14,211,000
litigation loss
prepaid royalties to former owner
royalty payable to former owner
deposit with former owner
repayment on line of credit
proceeds from notes payable and line of credit
notes payable issuance costs
repurchase of outstanding shares
repurchase of institute warrant
repayment of institute note payable
proceeds from related party payable on preferred stock
net proceeds from issuance of common stock																																																														-8,000
payment of special distribution
proceeds from exercise of warrant
estimated litigation loss																																																														0
deferred income tax benefit
accrued compensation, benefits and liabilities
income taxes payable																																																											-3,264,000	-3,210,000	6,251,000				4,598,000
deferred revenue and student deposits																																																											22,898,000	-200,000	22,079,000	-19,391,000	22,412,000	-11,812,000	17,733,000
purchase of campus land and buildings																																																														0	0
proceeds from debt																																																															0
repurchase of common shares and treasury stock
purchase of equipment through capital lease obligations																																																																	2,116,000
settlement of capital lease obligation																																																															0
net proceeds from issuance of preferred stock
dividends on preferred stock
repurchase of institute note payable
amount paid related to initial public offering
deferred tax on repurchase of institute warrant
value assigned to blanchard shares
assumption of future obligations under gift annuities
accretion of dividends on series c convertible preferred stock
prepaid expenses and other assets																																																																	185,000
proceeds from line of credit and other debt obligations
redemptions of preferred stock
issuance of series b and series c convertible preferred stock for notes receivable
receipt of marketable securities for series b convertible preferred stock
issuance of series c convertible preferred stock for settlement of balances owed
conversion of series a and series c convertible preferred stock

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