Quarterly
Annual
| Unit: USD | 2025-09-30 | 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 | 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 | 2015-06-30 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-12-31 | 2009-09-30 | 2009-06-30 | 2005-09-30 | 2004-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenues | 319,949,000 | 321,471,000 | 303,590,000 | 311,456,000 | 305,958,000 | 312,266,000 | 290,250,000 | 302,702,000 | 285,936,000 | 287,680,000 | 256,606,000 | 269,938,000 | 263,123,000 | 273,564,000 | 258,855,000 | 272,099,000 | 270,078,000 | 299,173,000 | 290,336,000 | 267,494,000 | 239,026,000 | 255,831,000 | 265,302,000 | 263,772,000 | 241,747,000 | 245,110,000 | 242,103,000 | 160,945,000 | 114,668,000 | 116,469,000 | 118,707,000 | 108,512,000 | 112,720,000 | 114,912,000 | 119,279,000 | 102,156,000 | 108,487,000 | 111,166,000 | 109,750,000 | 112,747,000 | 116,468,000 | 110,031,000 | 131,980,000 | 137,506,000 | 141,933,000 | 124,260,000 | 146,254,000 | 149,532,000 | 155,824,000 | 135,865,000 | 163,789,000 | 171,956,000 | 147,597,000 | 159,283,000 | 157,901,000 | 397,610,000 | 114,351,000 | 125,931,000 | 47,087 | 46,811,000 |
costs and expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
instructional and support costs | 162,724,000 | 166,153,000 | 158,286,000 | 166,884,000 | 162,668,000 | 163,235,000 | 157,709,000 | 153,751,000 | 155,735,000 | 161,479,000 | 152,938,000 | 152,167,000 | 153,162,000 | 147,368,000 | 144,624,000 | 148,867,000 | 153,651,000 | 152,938,000 | 152,805,000 | 147,007,000 | 127,174,000 | 125,544,000 | 132,936,000 | 133,323,000 | 132,527,000 | 130,704,000 | ||||||||||||||||||||||||||||||||||
general and administration | 105,932,000 | 106,775,000 | 103,596,000 | 104,145,000 | 106,206,000 | 105,112,000 | 96,695,000 | 92,377,000 | 97,598,000 | 99,003,000 | 95,465,000 | 90,558,000 | 97,753,000 | 96,722,000 | 94,784,000 | 85,391,000 | 95,714,000 | 93,395,000 | 86,845,000 | 84,635,000 | 74,069,000 | 67,301,000 | 69,226,000 | 67,595,000 | 72,303,000 | 68,374,000 | 18,964,000 | 15,811,000 | 11,063,000 | 11,218,000 | 19,380,000 | 11,193,000 | 13,205,000 | 11,619,000 | 12,522,000 | 10,952,000 | 11,930,000 | 10,329,000 | 10,844,000 | 11,157,000 | 11,013,000 | 11,472,000 | 12,978,000 | 11,088,000 | 10,711,000 | 13,769,000 | 12,928,000 | 12,648,000 | 12,956,000 | 13,406,000 | 14,580,000 | 14,522,000 | 25,590,000 | 25,609,000 | 24,253,000 | 60,084,000 | 19,583,000 | 19,875,000 | ||
restructuring costs | 14,251,000 | 2,783,000 | 1,914,000 | 4,405,000 | 758,000 | 1,995,000 | -5,510,000 | 1,048,000 | 3,262,000 | 6,351,000 | 5,595,000 | -4,014,000 | 610,000 | 3,661,000 | 1,858,000 | -928,000 | 3,322,000 | 4,811,000 | 18,267,000 | 8,358,000 | 4,024,000 | |||||||||||||||||||||||||||||||||||||||
total costs and expenses | 282,907,000 | 275,711,000 | 263,796,000 | 275,434,000 | 269,632,000 | 270,342,000 | 248,894,000 | 248,478,000 | 260,307,000 | 270,863,000 | 257,955,000 | 242,291,000 | 255,316,000 | 251,699,000 | 245,414,000 | 244,235,000 | 262,730,000 | 272,473,000 | 278,336,000 | 263,886,000 | 223,604,000 | 209,436,000 | 221,343,000 | 226,559,000 | 221,747,000 | 217,514,000 | 223,228,000 | 218,072,000 | 110,484,000 | 105,141,000 | 107,019,000 | 100,288,000 | 98,866,000 | 96,469,000 | 99,625,000 | 97,326,000 | 95,591,000 | 91,074,000 | 88,821,000 | 88,749,000 | 90,559,000 | 103,410,000 | 105,723,000 | 107,587,000 | 37,515 | |||||||||||||||
income from operations | 37,042,000 | 45,760,000 | 39,794,000 | 36,022,000 | 36,326,000 | 41,924,000 | 41,356,000 | 54,224,000 | 25,629,000 | 16,817,000 | -1,349,000 | 27,647,000 | 7,807,000 | 21,865,000 | 13,441,000 | 27,864,000 | 7,348,000 | 26,700,000 | 12,000,000 | 3,608,000 | 15,422,000 | 46,395,000 | 43,959,000 | 37,213,000 | 20,000,000 | 27,596,000 | 18,875,000 | -57,127,000 | 4,184,000 | 11,328,000 | 11,688,000 | 8,224,000 | 13,854,000 | 18,443,000 | 19,654,000 | 4,830,000 | 12,896,000 | 20,092,000 | 20,929,000 | 23,998,000 | 25,909,000 | 6,621,000 | 26,257,000 | 29,919,000 | 28,725,000 | 7,836,000 | 36,168,000 | 40,858,000 | 45,368,000 | 24,405,000 | 50,145,000 | 59,225,000 | 38,249,000 | 58,691,000 | 59,926,000 | 145,094,000 | 27,260,000 | 45,079,000 | 9,572 | 18,362,000 |
yoy | 1.97% | 9.15% | -3.78% | -33.57% | 41.74% | 149.30% | -3165.68% | 96.13% | 228.28% | -23.09% | -110.04% | -0.78% | 6.25% | -18.11% | 12.01% | 672.28% | -52.35% | -42.45% | -72.70% | -90.30% | -22.89% | 68.12% | 132.90% | -165.14% | 378.01% | 143.61% | 61.49% | -794.64% | -69.80% | -38.58% | -40.53% | 70.27% | 7.43% | -8.21% | -6.09% | -79.87% | -50.23% | 203.46% | -20.29% | -19.79% | -9.80% | -15.51% | -27.40% | -26.77% | -36.68% | -67.89% | -27.87% | -31.01% | 18.61% | -58.42% | -16.32% | -59.18% | 40.31% | 30.20% | 625955.16% | 690.19% | ||||
qoq | -19.05% | 14.99% | 10.47% | -0.84% | -13.35% | 1.37% | -23.73% | 111.57% | 52.40% | -1346.63% | -104.88% | 254.13% | -64.29% | 62.67% | -51.76% | 279.21% | -72.48% | 122.50% | 232.59% | -76.60% | -66.76% | 5.54% | 18.13% | 86.06% | -27.53% | 46.20% | -133.04% | -1465.37% | -63.06% | -3.08% | 42.12% | -40.64% | -24.88% | -6.16% | 306.92% | -62.55% | -35.82% | -4.00% | -12.79% | -7.38% | 291.32% | -74.78% | -12.24% | 4.16% | 266.58% | -78.33% | -11.48% | -9.94% | 85.90% | -51.33% | -15.33% | 54.84% | -34.83% | -2.06% | -58.70% | 432.26% | -39.53% | 470846.51% | -99.95% | |
operating margin % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other income | -273,000 | -315,000 | 2,211,000 | 1,869,000 | 2,264,000 | -123,000 | 1,794,000 | 994,000 | 842,000 | 3,171,000 | 398,000 | -58,000 | -262,000 | 300,000 | -1,171,000 | 1,611,000 | -1,848,000 | 757,000 | 2,167,000 | -101,000 | 912,000 | 1,639,000 | 2,123,000 | 2,497,000 | 3,243,000 | 4,125,000 | 1,755,000 | 1,110,000 | ||||||||||||||||||||||||||||||||
income before income taxes | 36,769,000 | 45,445,000 | 42,005,000 | 37,891,000 | 38,590,000 | 41,801,000 | 43,150,000 | 55,218,000 | 26,471,000 | 19,988,000 | -951,000 | 27,589,000 | 7,545,000 | 22,165,000 | 12,270,000 | 29,475,000 | 5,500,000 | 27,457,000 | 14,167,000 | 3,507,000 | 16,334,000 | 48,034,000 | 46,082,000 | 39,710,000 | 23,243,000 | 31,721,000 | 20,630,000 | -56,017,000 | 4,631,000 | 11,617,000 | 11,869,000 | 8,365,000 | 13,947,000 | 18,465,000 | 19,628,000 | 4,784,000 | 12,848,000 | 20,032,000 | 19,757,000 | 22,719,000 | 24,557,000 | 5,231,000 | 24,920,000 | 28,623,000 | 27,482,000 | 6,782,000 | 35,061,000 | 39,651,000 | 44,157,000 | 23,201,000 | 49,004,000 | 59,160,000 | 38,580,000 | 58,938,000 | 60,170,000 | 146,215,000 | 27,547,000 | 45,454,000 | 10,258 | 18,726,000 |
benefit from income taxes | 10,139,000 | 13,114,000 | 12,261,000 | 12,555,000 | 10,842,000 | 11,903,000 | 13,448,000 | 16,089,000 | 8,012,000 | 5,757,000 | 1,077,000 | 9,260,000 | 1,453,000 | 6,945,000 | 5,241,000 | 7,795,000 | 1,646,000 | 7,481,000 | 4,590,000 | 7,524,750 | 5,374,000 | 13,882,000 | 10,843,000 | 2,150,000 | 18,364,000 | 2,138,000 | 3,645,000 | 7,887,000 | 7,910,000 | 1,906,000 | 5,062,000 | 7,612,000 | 7,883,000 | 9,042,000 | 9,774,000 | 2,082,000 | 9,918,000 | 11,392,000 | 10,855,000 | 2,679,000 | 13,849,000 | 15,662,000 | 17,486,000 | 9,266,000 | 19,357,000 | 23,369,000 | 15,239,000 | 23,281,000 | 23,791,000 | 57,803,000 | 10,881,000 | 17,954,000 | 3,820 | 7,323,000 | ||||||
net income | 26,630,000 | 32,331,000 | 29,744,000 | 25,336,000 | 27,748,000 | 29,898,000 | 29,702,000 | 39,129,000 | 18,459,000 | 14,231,000 | -2,028,000 | 18,329,000 | 6,092,000 | 15,220,000 | 7,029,000 | 21,680,000 | 3,854,000 | 19,976,000 | 9,577,000 | 5,917,000 | 10,960,000 | 34,152,000 | 35,239,000 | 28,537,000 | 16,692,000 | 24,409,000 | 22,455,000 | -52,781,000 | 5,188,000 | 9,467,000 | -6,495,000 | 6,227,000 | 10,302,000 | 10,578,000 | 11,718,000 | 2,878,000 | 7,786,000 | 12,420,000 | 11,874,000 | 13,677,000 | 14,783,000 | 3,149,000 | 15,002,000 | 17,231,000 | 16,627,000 | 4,103,000 | 21,212,000 | 23,989,000 | 26,671,000 | 13,935,000 | 29,647,000 | 35,791,000 | 23,341,000 | 35,657,000 | 36,379,000 | 88,412,000 | 16,666,000 | 27,500,000 | 6,438 | 11,403,000 |
yoy | -4.03% | 8.14% | 0.14% | -35.25% | 50.32% | 110.09% | -1564.60% | 113.48% | 203.00% | -6.50% | -128.85% | -15.46% | 58.07% | -23.81% | -26.61% | 266.40% | -64.84% | -41.51% | -72.82% | -79.27% | -34.34% | 39.92% | 56.93% | -154.07% | 221.74% | 157.83% | -445.73% | -947.62% | -49.64% | -10.50% | -155.43% | 116.37% | 32.31% | -14.83% | -1.31% | -78.96% | -47.33% | 294.41% | -20.85% | -20.63% | -11.09% | -23.25% | -29.28% | -28.17% | -37.66% | -70.56% | -28.45% | -32.97% | 14.27% | -60.92% | -18.51% | -59.52% | 40.05% | 29.66% | 564966.79% | 675.34% | ||||
qoq | -17.63% | 8.70% | 17.40% | -8.69% | -7.19% | 0.66% | -24.09% | 111.98% | 29.71% | -801.73% | -111.06% | 200.87% | -59.97% | 116.53% | -67.58% | 462.53% | -80.71% | 108.58% | 61.86% | -46.01% | -67.91% | -3.08% | 23.49% | 70.96% | -31.62% | 8.70% | -142.54% | -1117.37% | -45.20% | -245.76% | -204.30% | -39.56% | -2.61% | -9.73% | 307.16% | -63.04% | -37.31% | 4.60% | -13.18% | -7.48% | 369.45% | -79.01% | -12.94% | 3.63% | 305.24% | -80.66% | -11.58% | -10.06% | 91.40% | -53.00% | -17.17% | 53.34% | -34.54% | -1.98% | -58.85% | 430.49% | -39.40% | 427051.29% | -99.94% | |
net income margin % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 1.18 | 1.41 | 1.28 | 1.08 | 1.18 | 1.28 | 1.27 | 1.67 | 0.79 | 0.61 | -0.09 | 0.78 | 0.26 | 0.64 | 0.29 | 0.91 | 0.16 | 0.83 | 0.4 | 0.19 | 0.48 | 1.57 | 1.62 | 1.31 | 0.77 | 1.12 | 1.87 | -2.97 | 0.48 | 0.88 | 0.635 | 0.58 | 0.96 | 1 | 0.545 | 0.27 | 0.73 | 1.17 | 1.12 | 1.29 | 1.4 | 0.3 | 1.43 | 1.59 | 1.078 | 0.36 | 1.86 | 2.1 | 2.3 | 1.2 | 2.54 | 2.81 | 1.73 | 2.63 | 2.68 | 0.305 | 1.22 | 2.01 | ||
diluted | 1.15 | 1.37 | 1.24 | 1.05 | 1.15 | 1.24 | 1.23 | 1.63 | 0.77 | 0.59 | -0.09 | 0.76 | 0.25 | 0.63 | 0.29 | 0.9 | 0.16 | 0.83 | 0.4 | 0.19 | 0.47 | 1.55 | 1.6 | 1.29 | 0.75 | 1.1 | 1.87 | -2.97 | 0.46 | 0.84 | 0.608 | 0.56 | 0.92 | 0.95 | 0.535 | 0.27 | 0.72 | 1.15 | 1.11 | 1.29 | 1.4 | 0.3 | 1.42 | 1.59 | 1.073 | 0.36 | 1.85 | 2.09 | 2.3 | 1.2 | 2.53 | 2.8 | 1.72 | 2.6 | 2.65 | 0.303 | 1.21 | 2 | ||
weighted-average shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 22,584 | 22,906 | 23,320 | 23,406 | 23,422 | 23,442 | 23,391 | 23,403 | 23,365 | 23,450 | 23,430 | 23,679 | 23,550 | 23,796 | 23,948 | 23,955 | 23,948 | 23,975 | 23,974 | 22,633 | 23,004 | 21,764 | 21,810 | 21,725 | 21,806 | 21,777 | 15,190 | 17,799 | 10,879 | 10,745 | 10,678 | 10,701 | 10,680 | 10,630 | 10,610 | 10,616 | 10,610 | 10,596 | 10,587 | 10,565 | 10,529 | 10,510 | 10,502 | 10,813 | 11,390 | 11,433 | 11,430 | 11,419 | 11,906 | 11,623 | 11,692 | 12,744 | 13,467 | 13,563 | 13,596 | 13,703 | 13,659 | 13,653 | 14,374 | |
diluted | 23,209 | 23,516 | 24,065 | 24,140 | 24,173 | 24,179 | 24,060 | 23,956 | 23,870 | 23,964 | 23,430 | 23,998 | 23,902 | 24,063 | 24,114 | 24,122 | 24,113 | 24,126 | 24,153 | 22,860 | 23,214 | 22,012 | 22,071 | 22,097 | 22,129 | 22,109 | 15,190 | 17,799 | 11,380 | 11,311 | 11,199 | 11,210 | 11,190 | 11,121 | 10,845 | 10,828 | 10,799 | 10,782 | 10,705 | 10,623 | 10,581 | 10,552 | 10,535 | 10,850 | 11,440 | 11,487 | 11,483 | 11,477 | 11,943 | 11,647 | 11,737 | 12,794 | 13,557 | 13,704 | 13,729 | 13,825 | 13,780 | 13,771 | 14,637 | |
amortization of intangible assets | 1,093,000 | 3,382,000 | 3,450,000 | 3,532,000 | 3,396,000 | 3,522,000 | 3,694,000 | 3,738,000 | 3,764,000 | 8,932,000 | 19,392,000 | 19,407,000 | 17,974,000 | 15,417,000 | 15,417,000 | 15,417,000 | 15,416,000 | 15,417,000 | 15,417,000 | 15,416,000 | 10,278,000 | |||||||||||||||||||||||||||||||||||||||
merger and integration costs | 209,000 | 330,000 | 580,000 | 425,000 | 184,000 | 269,000 | 254,000 | 410,000 | 7,141,000 | 1,111,000 | 1,937,000 | 1,012,000 | 5,912,000 | 2,920,000 | 1,174,000 | 3,764,000 | 10,225,000 | 1,500,000 | 3,019,000 | |||||||||||||||||||||||||||||||||||||||||
impairment of intangible assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
benefit for income taxes | 11,173,000 | 6,551,000 | 7,312,000 | -1,825,000 | -3,236,000 | -557,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash dividend declared per share | 0.5 | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
instruction and educational support | 118,320,000 | 93,290,000 | 64,690,000 | 63,776,000 | 65,118,000 | 56,987,000 | 61,656,000 | 61,416,000 | 64,851,000 | 56,295,000 | 61,782,000 | 58,098,000 | 59,245,000 | 59,799,000 | 59,113,000 | 63,673,000 | 71,305,000 | 73,427,000 | 77,685,000 | 72,997,000 | 75,652,000 | 73,764,000 | 72,484,000 | 68,170,000 | 76,373,000 | 74,976,000 | 49,023,000 | 50,101,000 | 48,977,000 | 126,494,000 | 40,110,000 | 40,948,000 | 18,084 | 16,533,000 | ||||||||||||||||||||||||||
marketing | 49,577,000 | 46,165,000 | 21,113,000 | 20,124,000 | 17,840,000 | 26,790,000 | 19,226,000 | 18,718,000 | 17,591,000 | 25,388,000 | 17,748,000 | 18,298,000 | 14,670,000 | 13,360,000 | 16,314,000 | 23,077,000 | 16,228,000 | 17,721,000 | 18,171,000 | 23,171,000 | 15,053,000 | 15,469,000 | 18,659,000 | 23,351,000 | 16,241,000 | 16,042,000 | ||||||||||||||||||||||||||||||||||
admissions advisory | 12,392,000 | 9,789,000 | 4,609,000 | 4,676,000 | 4,681,000 | 5,318,000 | 4,779,000 | 4,716,000 | 4,661,000 | 4,691,000 | 4,131,000 | 4,349,000 | 4,062,000 | 4,433,000 | 4,119,000 | 5,188,000 | 5,212,000 | 5,351,000 | 6,641,000 | 6,487,000 | 6,453,000 | 6,793,000 | 6,357,000 | 6,533,000 | 6,450,000 | 7,191,000 | ||||||||||||||||||||||||||||||||||
merger costs | 7,954,000 | 29,620,000 | 2,824,000 | 5,347,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fair value adjustments and impairment of intangible assets | 605,000 | 13,119,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
fair value adjustments | 6,185,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment income | 608,000 | 448,000 | 184,250 | 303,000 | 253,000 | 181,000 | 81,750 | 115,000 | 112,000 | 100,000 | 100,000 | 2,000 | 1,000 | 1,000 | 1,000 | 1,000 | 2,000 | 1,000 | 3,000 | 5,000 | 26,000 | 118,000 | ||||||||||||||||||||||||||||||||||||||
interest expense | 161,000 | 159,000 | 161,000 | 162,000 | 160,000 | 159,000 | 161,000 | 161,000 | 160,000 | 160,000 | 1,272,000 | 1,281,000 | 1,353,000 | 1,391,000 | 1,337,000 | 1,296,000 | 1,243,000 | 1,055,000 | 1,109,000 | 1,208,000 | 1,214,000 | 1,209,000 | 1,167,000 | 183,000 | ||||||||||||||||||||||||||||||||||||
marketing and admissions | 34,735,000 | 24,882,000 | 24,745,000 | 65,938,000 | 27,398,000 | 20,029,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment and other income | 331,000 | 247,000 | 244,000 | 1,121,000 | 287,000 | 375,000 | 686 | 364,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
common dividends per share: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
regular | 0.75 | 0.125 | 0.5 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common dividends per share | 0.75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
special | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
selling and promotion | 13,009 | 6,320,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 6,422 | 5,596,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock dividends and accretion | 279,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income available to common stockholders | 6,438 | 11,124,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income per share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.45 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted | 0.44 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic net income per share | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
diluted net income per share | 0.75 |
The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.