Strategic Education (STRA) 10-K 1 Mar 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 01, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	STRAYER EDUCATION INC
Entity Central Index Key	1,013,934
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,017
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 997.6
Entity Common Stock, Shares Outstanding		11,161,266

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 155,933	$ 129,245
Tuition receivable, net	23,122	20,532
Other current assets	11,293	10,766
Total current assets	190,348	160,543
Property and equipment, net	73,763	73,124
Deferred income taxes	24,452	31,096
Goodwill	20,744	20,744
Other assets	11,971	13,189
Total assets	321,278	298,696
Current liabilities:
Accounts payable and accrued expenses	46,177	41,132
Income taxes payable	1,038	1,883
Deferred revenue	21,851	16,691
Other current liabilities		133
Total current liabilities	69,066	59,839
Other long-term liabilities	43,015	50,483
Total liabilities	112,081	110,322
Commitments and contingencies
Stockholders' equity:
Common stock, par value $0.01; 20,000,000 shares authorized; 11,093,489 and 11,167,425 shares issued and outstanding at December 31, 2016 and 2017, respectively	112	111
Additional paid-in capital	47,079	35,453
Retained earnings	162,006	152,810
Total stockholders' equity	209,197	188,374
Total liabilities and stockholders' equity	$ 321,278	$ 298,696

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Balance Sheets [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	11,167,425	11,093,489
Common stock, shares outstanding	11,167,425	11,093,489

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statements of Income [Abstract]
Revenues	$ 454,851	$ 441,088	$ 434,437
Costs and expenses:
Instruction and educational support	245,177	241,026	234,097
Marketing	82,574	79,025	70,084
Admissions advisory	19,494	17,832	16,304
General and administration	55,397	45,733	44,254
Total costs and expenses	402,642	383,616	364,739
Income from operations	52,209	57,472	69,698
Investment income	1,079	462	283
Interest expense	642	642	3,850
Income before income taxes	52,646	57,292	66,131
Provision for income taxes	32,034	22,490	26,108
Net income	$ 20,612	$ 34,802	$ 40,023
Earnings per share:
Basic	$ 1.93	$ 3.28	$ 3.78
Diluted	$ 1.84	$ 3.21	$ 3.73
Weighted average shares outstanding:
Basic	10,678	10,610	10,588
Diluted	11,199	10,845	10,740

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statements of Comprehensive Income [Abstract]
Net income	$ 20,612	$ 34,802	$ 40,023
Other comprehensive income:
Change in fair value of derivative instrument, net of income tax			(88)
Comprehensive income	$ 20,612	$ 34,802	$ 39,935

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Beginning balance at Dec. 31, 2014	$ 109	$ 14,550	$ 77,985	$ 88	$ 92,732
Beginning balance, shares at Dec. 31, 2014	10,903,341
Tax shortfall associated with stock-based compensation arrangements		(24)			(24)
Restricted stock grants, net of forfeitures	$ 1	(1)
Restricted stock grants, net of forfeitures, shares	123,836
Stock-based compensation		10,213			10,213
Change in fair value of derivative instrument, net of income tax				$ (88)	(88)
Net income			40,023		40,023
Ending balance at Dec. 31, 2015	$ 110	24,738	118,008		142,856
Ending balance, shares at Dec. 31, 2015	11,027,177
Tax shortfall associated with stock-based compensation arrangements		(51)			(51)
Restricted stock grants, net of forfeitures	$ 1	(1)
Restricted stock grants, net of forfeitures, shares	66,312
Stock-based compensation		10,767			10,767
Net income			34,802		34,802
Ending balance at Dec. 31, 2016	$ 111	35,453	152,810		188,374
Ending balance, shares at Dec. 31, 2016	11,093,489
Restricted stock grants, net of forfeitures	$ 1	(1)
Restricted stock grants, net of forfeitures, shares	73,936
Stock-based compensation		11,627			11,627
Common stock dividends			(11,416)		(11,416)
Net income			20,612		20,612
Ending balance at Dec. 31, 2017	$ 112	$ 47,079	$ 162,006		$ 209,197
Ending balance, shares at Dec. 31, 2017	11,167,425

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 20,612	$ 34,802	$ 40,023
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of gain on sale of assets	(133)	(281)	(280)
Amortization of deferred rent	(1,780)	(1,441)	(345)
Amortization of deferred financing costs	262	262	1,229
Depreciation and amortization	18,733	17,817	18,104
Deferred income taxes	6,429	(8,697)	(4,006)
Stock-based compensation	11,627	10,767	10,213
Changes in assets and liabilities:
Tuition receivable, net	(3,250)	(1,453)	(1,991)
Other current assets	(527)	(3,949)	4,005
Other assets	1,582	(1,865)	22
Accounts payable and accrued expenses	4,468	(262)	(752)
Income taxes payable and income taxes receivable	(629)	(408)	1,835
Deferred revenue	8,212	7,018	12,465
Other long-term liabilities	(9,451)	(7,800)	(2,974)
Net cash provided by operating activities	56,155	44,510	77,548
Cash flows from investing activities:
Purchases of property and equipment	(18,051)	(13,161)	(12,692)
Cash used in acquisition, net of cash acquired		(7,635)
Net cash used in investing activities	(18,051)	(20,796)	(12,692)
Cash flows from financing activities:
Common dividends paid	(11,416)
Payments on term loan			(118,750)
Payments of contingent consideration		(1,358)	(650)
Payment of deferred financing costs			(850)
Net cash used in financing activities	(11,416)	(1,358)	(120,250)
Net increase in cash and cash equivalents	26,688	22,356	(55,394)
Cash and cash equivalents - beginning of year	129,245	106,889	162,283
Cash and cash equivalents - end of year	155,933	129,245	106,889
Noncash transactions:
Purchases of property and equipment included in accounts payable	$ 1,734	$ 349	$ 365

Nature of Operations

Nature of Operations	12 Months Ended
	Dec. 31, 2017
Nature of Operations [Abstract]
Nature of Operations	1. Nature of Operation Strayer Education, Inc. (the “Company”), a Maryland corporation, conducts its operations through its wholly-owned subsidiaries, Strayer University (the “University”) and New York Code and Design Academy (“NYCDA”). The University is an accredited institution of higher education that provides undergraduate and graduate degrees in various fields of study through physical campuses, predominantly located in the eastern United States, and online. NYCDA is a New York City-based provider of web and application software development courses. NYCDA courses are delivered primarily on-ground to students seeking to further their career in software application development. The Company has only one reportable segment.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Significant Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies Financial Statement Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. On January 13, 2016, the Company acquired all of the outstanding stock of NYCDA, and the results of NYCDA are included with the Company from the acquisition date. All intercompany accounts and transactions have been eliminated in the consolidated financial statements. Revenue Recognition The Company’s educational programs typically are offered on a quarterly basis and such periods coincide with the Company’s quarterly financial reporting periods. During the year ended December 31, 2017, most of the Company’s revenue came from the University, which derived approximately 96% of its revenues from tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships, and employee tuition discounts. This collectibility assessment considers available sources of funds for the student, including financial aid programs provided through Title IV of the Higher Education Act. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student’s ability to pay, including the timing of a student’s withdrawal from a program of study. At the start of each academic term or program, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term or program is recorded as deferred revenue. Some students may be eligible for scholarship awards, the estimated value of which will be realized in the future and is deducted from revenue when earned, based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned. The Company’s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the University’s academic terms coincide with the Company’s financial reporting periods, nearly all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student’s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund. Graduation Fund In 2013, the University introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student’s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program receive one free course for every three courses that are successfully completed. Students must meet all of the University’s admission requirements, and must be enrolled in a bachelor’s degree program. The Company’s employees and their dependents are not eligible for the program. Students who have more than one consecutive term of non-attendance lose any Graduation Fund credits earned to date, but may earn and accumulate new credits if the student is reinstated or readmitted by the University in the future. Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company defers the value of benefits estimated to be redeemed in the future based on the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company’s estimate of the benefits that will be redeemed in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next 12 months is $19.1 million and is included in deferred revenue as a current liability in the consolidated balance sheets. The table below presents activity in the Graduation Fund for the years ended December 31, 2016 and 2017 (in thousands): December 31, December 31, 2016 2017 Balance at beginning of period $ 20,937 $ 29,499 Revenue deferred 20,766 25,360 Benefit redeemed (12,204) (17,459) Balance at end of period $ 29,499 $ 37,400 Cash and Cash Equivalents Cash and cash equivalents consist of cash maintained in mostly FDIC-insured bank accounts and cash invested in bank overnight deposits and money market mutual funds. The Company places its cash and temporary cash investments with various financial institutions. The Company considers all highly liquid instruments purchased with a maturity of three months or less at the date of purchase to be cash equivalents. Concentration of Credit Risk 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. Restricted Cash A significant portion of the Company’s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. The Company had approximately $13,000 and $15,000 as of December 31, 2016 and 2017, respectively, of these unpaid obligations, which are recorded as restricted cash and included in other current assets in the consolidated balance sheets. As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a “minimum protective endowment” of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets. Tuition Receivable and Allowance for Doubtful Accounts The Company records tuition receivable and deferred revenue for its students upon the start of the academic term or program. Therefore, at the end of the quarter (and academic term), tuition receivable generally represents amounts due from students for educational services already provided and deferred revenue generally represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University’s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates incorporate historical performance based on a student’s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience. The Company’s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2016 and 2017 (in thousands): December 31, 2016 December 31, 2017 Tuition receivable $ 30,733 $ 35,809 Allowance for doubtful accounts (10,201) (12,687) Tuition receivable, net $ 20,532 $ 23,122 Approximately $2.3 million and $2.9 million of tuition receivable is included in other assets as of December 31, 2016 and 2017, respectively, because these amounts are expected to be collected after 12 months. The following table illustrates changes in the Company’s allowance for doubtful accounts for each of the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Allowance for doubtful accounts, beginning of period $ 8,835 $ 10,024 $ 10,201 Additions charged to expense 13,067 16,503 21,751 Write-offs, net of recoveries (11,878) (16,326) (19,265) Allowance for doubtful accounts, end of period $ 10,024 $ 10,201 $ 12,687 Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. In accordance with the Property, Plant and Equipment Topic, ASC 360, the carrying values of the Company’s assets are re-evaluated when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined that an impairment loss has occurred based on expected undiscounted future cash flows, then a loss is recognized using a fair value-based model. Through 2017, no such impairment loss had occurred. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives ranging from three to 40 years. Depreciation and amortization expense was $18.1 million, $17.8 million and $18.7 million for the years ended December 31, 2015, 2016, and 2017, respectively. Construction in progress includes costs of computer software developed for internal use, which is accounted for in accordance with the Internal-Use Software Topic, ASC 350-40. Computer software development costs that are incurred in the preliminary project stage are expensed as incurred. During the development stage, direct consulting costs, payroll, and payroll-related costs for employees that are directly associated with the project are capitalized and will be amortized over the estimated useful life of the software once placed into operation. Purchases of property and equipment and changes in accounts payable for each of the three years in the period ended December 31, 2017 in the consolidated statements of cash flows have been adjusted to exclude noncash purchases of property and equipment transactions during that period. Fair Value The Fair Value Measurement Topic, ASC 820-10 (“ASC 820-10”), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows: · Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date; · Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and · Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity. The Company’s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities. Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include trade names, are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade names because they have the continued ability to generate cash flows indefinitely. Goodwill and the indefinite-lived intangible assets are assessed at least annually for impairment during the fourth quarter, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. During the three months ended December 31, 2017, the Company performed its annual impairment testing of goodwill and indefinite-lived intangible assets assigned to JWMI and NYCDA. Following a qualitative assessment, the Company determined that it is not more likely than not that the fair value of its goodwill and indefinite-lived intangible assets for JWMI was less than the carrying amount, and accordingly, no impairment existed in 2017. For goodwill assigned to NYCDA, the Company bypassed the qualitative assessment and performed Step 1 of the goodwill impairment test as well as a quantitative impairment test of the indefinite-lived intangible asset. Based on these tests, the Company determined the fair value of NYCDA exceeded its carrying value, and there was no impairment of the goodwill and indefinite-lived intangible asset assigned to NYCDA as of December 31, 2017. The following table presents changes in goodwill for the years ended December 31, 2016 and 2017 (in thousands): 2016 2017 Balance as of the beginning of period $ 6,800 $ 20,744 Acquisition (see Note 3) 14,242 — Measurement period adjustments (298) — Balance as of the end of period $ 20,744 $ 20,744 Long-Term Liabilities Included in the Company’s long-term liabilities are amounts related to the Company’s operating leases, deferred payments related to a prior acquisition, and the non-current portion of deferred revenue. In conjunction with the opening of some campuses and other facilities, the Company was reimbursed by the lessors for improvements made to those leased properties. In accordance with the Operating Leases Subtopic, ASC 840-20 (“ASC 840-20”), these underlying assets were capitalized as leasehold improvements, and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years. In accordance with ASC 840-20, the Company records rent expense on a straight-line basis over the initial term of a lease. The cumulative difference between the rent payment and the straight-line rent expense is recorded as a liability. Authorized Stock The Company has authorized 20,000,000 shares of common stock, par value $.01, of which 11,093,489 and 11,167,425 shares were issued and outstanding as of December 31, 2016 and 2017, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which is issued or outstanding. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock. In February 2017, the Company’s Board of Directors declared a regular, annual cash dividend of $1.00 per share of common stock. The Company paid $0.25 per common share in each of March, June, September and December of 2017. Advertising Costs The Company expenses advertising costs in the quarter incurred, except for costs associated with the production of media commercials, which are expensed when the commercial is first aired. Stock-Based Compensation As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company’s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the consolidated statements of income for each of the three years in the period ended December 31, 2017 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company estimates forfeitures at the time of grant and revises the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest. Effective January 1, 2017, the Company adopted ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 impacts several aspects of the accounting for share-based payment transactions, including classification of certain items on the consolidated statement of cash flows and accounting for income taxes. Specifically, ASU 2016-09 requires excess tax benefits and tax deficiencies to be recognized as income tax expense or benefit in earnings, which may introduce significant volatility to the Company’s provision for income taxes. Also, all tax-related cash flows resulting from share-based payments will now be reported as operating activities in the statement of cash flows. The Company has elected to apply this cash flow guidance prospectively and there was no impact to the prior period presentation. In addition, pursuant to ASU 2016-09, the Company has elected to continue to estimate forfeitures ratably over the life of awards. The adoption of ASU 2016-09 has not materially impacted the Company’s financial statements. See Note 8 for additional information. Net Income Per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock, and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company’s common stock: (1) the proceeds received from the exercise of stock options, and (2) the amount of compensation cost associated with the stock awards for future service not yet recognized by the Company. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period. During the years ended December 31, 2015, 2016, and 2017, the Company had no issued and outstanding stock options that were excluded from the calculation. Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Weighted average shares outstanding used to compute basic earnings per share 10,588 10,610 10,678 Incremental shares issuable upon the assumed exercise of stock options 6 5 39 Unvested restricted stock and restricted stock units 146 230 482 Shares used to compute diluted earnings per share 10,740 10,845 11,199 Income Taxes The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse. The Income Taxes Topic, ASC 740, requires the company to determine whether uncertain tax positions should be recognized within the Company’s financial statements. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined more likely than not to be sustained upon examination. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained. The tax years since 2014 remain open for federal tax examination and the tax years since 2013 remain open to examination by state and local taxing jurisdictions in which the Company is subject. Use of Estimates 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, fair value of future contractual operating lease obligations, 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, intangible assets, fair value of contingent consideration, and the provision for income taxes. Actual results could differ from those estimates. Comprehensive Income Comprehensive income consists of net income and the change in the fair value of the Company’s previous interest rate swap, net of income taxes. Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”) which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of ASU 2014-09 is for a company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The effective date of ASU 2014-09 is for fiscal years, and interim periods within those years, beginning after December 15, 2017. During 2016 and 2017, the FASB issued additional ASUs amending certain aspects of ASU 2014-09. ASU 2014-09 allows either a full retrospective adoption to all periods presented or a modified retrospective adoption approach, with the cumulative effect of initial application of the revised guidance recognized at the date of initial application. The Company has finalized its assessment of key revenue streams, including a comparison of current accounting policies and practices to the new standard, and is determining the appropriate changes to business processes and controls. Based on its evaluation to date, the Company believes that under the new standard, the allocation of revenue to certain performance obligations will result in changes in the timing of revenue recognition between interim periods for one of its performance obligations. However, any changes associated with the adoption of ASU 2014-09 are not expected to have a significant impact on annual revenue recognized, and are not expected to have a material impact on the Company’s consolidated financial statements. The Company has adopted ASU 2014-09 effective as of January 1, 2018 using the modified retrospective approach and accordingly, will complete the analysis of the cumulative effect adjustment to retained earnings and prepare enhanced disclosures pertaining to revenue recognition, including additional information about performance obligations, contract balances, and significant judgments and estimates used in applying the guidance, for the quarterly and annual filings beginning in the first quarter of 2018. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The new guidance requires the recognition of right-of-use assets and lease liabilities on the balance sheet for most leases. Under current guidance, operating leases are off-balance sheet. ASU 2016-02 also requires more extensive quantitative and qualitative disclosures about leasing arrangements. ASU 2016-02 applies to fiscal periods beginning after December 15, 2018, using the modified retrospective method, with early adoption permitted. The Company anticipates that the impact of ASU 2016-02 on its consolidated balance sheet will be material as the Company will record significant asset and corresponding liability balances in connection with its leased properties. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses, which applies to ASC Topic 326, Measurement of Credit Losses on Financial Instruments. The new guidance revises the accounting requirements related to the measurement of credit losses and will require organizations to measure all expected credit losses for financial assets based on historical experience, current conditions, and reasonable and supportable forecasts about collectibility. Assets must be presented in the financial statements at the net amount expected to be collected. The guidance will be effective for the Company's annual and interim reporting periods beginning January 1, 2020, with early adoption permitted. The Company is evaluating the impact this standard will have on its financial condition, results of operations, and disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows: Restricted Cash (Topic 230) (“ASU 2016-18”). Under ASU 2016-18, an entity should include in its cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. The standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and the Company does not expect adoption of ASU 2016-18 to have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill only in the event that an impairment is recognized. The amendments in this update should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019, though early adoption is permitted. The Company will adopt this guidance effective as of January 1, 2018, and does not expect it will have a material impact on its consolidated financial statements. Other ASUs issued by the FASB but not yet effective are not expected to have a material effect on the Company’s consolidated financial statements.

Acquisition of New York Code an

Acquisition of New York Code and Design Academy	12 Months Ended
	Dec. 31, 2017
Acquisition of New York Code and Design Academy [Abstract]
Acquisition of New York Code and Design Academy	3. On January 13, 2016, the Company acquired all of the outstanding stock of New York Code and Design Academy, Inc. (“NYCDA”), a provider of web and application software development courses based in New York City (the “Acquisition”). The Acquisition supports the Company’s strategy to complement its traditional degree offerings with a broader platform of educational services. The Company incurred transaction costs of approximately $0.2 million, which were included in general and administrative costs. The Acquisition was accounted for as a business combination. The purchase price included $2.4 million paid up front in cash, plus contingent cash payments of (a) up to $12.5 million payable based on NYCDA’s results of operations over a five-year period (the “Earnout”), and (b) $5.5 million payable based on NYCDA’s receipt of state regulatory permits. Pursuant to the Acquisition, $1.0 million of the Earnout may be accelerated upon receipt of one of the state regulatory permits. The Company recorded total contingent consideration of $14.5 million at the time of acquisition. In April 2016 and August 2016, NYCDA received the state regulatory permits and the Company paid $6.0 and $0.5 million of contingent consideration to the sellers, respectively. In addition, the Company paid a total of $4.6 million to two of NYCDA’s founders who are required to remain employed for at least three years from the acquisition date. If either of them terminates employment voluntarily, or is terminated for cause (as defined), he is required to reimburse the Company his respective portion of the retention amount. This amount was classified as prepaid compensation and is amortized to compensation expense over three years. Total potential cash payments for the Acquisition, including the contingent cash payments and prepaid compensation, could total $25.0 million. The allocation of the purchase price was as follows (in thousands): Purchase Price Allocation Useful Life Cash $ Other assets Intangibles: Trade name Indefinite Goodwill Liabilities assumed Total assets acquired and liabilities assumed, net Less: contingent consideration Less: cash acquired Cash paid for acquisition, net of cash acquired $ The fair value of the Earnout was originally measured by applying a probability weighted discounted cash flow model based on significant inputs not observable in the market (Level 3 inputs). Key assumptions included the expected future value of payments, at the time, of $12.5 million. Following its initial recognition, the Company has adjusted the carrying value of the Earnout to the fair value to reflect revisions to the business plan, expectations relative to achieving the performance targets over the earnout period, and the impact of the discount rate. During the fourth quarter of 2016, the Company revised its assumptions of the timing of future cash flows and recorded an adjustment to reduce the fair value of contingent consideration by $1.3 million. During 2017, the Company continued to update its near-term revenue projections for NYCDA. As of December 31, 2017, the Company estimates that no amounts under the Earnout will be paid and the related liability has been recorded at zero. The fair value adjustments to the Earnout in 2017 aggregated to $7.8 million. The Company will continue to update its forecasts each period and record any fair value adjustments, as necessary. The maximum possible amount that could still be paid under the Earnout is $11.5 million. The fair value of assets acquired and liabilities assumed was determined based on assumptions that reasonable market participants would use while employing the concept of highest and best use of the respective items. The following assumptions were used, the majority of which include significant unobservable inputs (Level 3), and valuation methodologies to determine fair value: · Intangibles – Income approaches were used to value the substantial majority of the acquired intangibles. The trade name was valued using the relief-from-royalty method, which represents the benefit of owning these intangible assets rather than paying royalties for their use. · Other assets and liabilities – The carrying value of all other assets and liabilities approximated fair value at the time of acquisition. Pro forma financial information for the NYCDA acquisition has not been presented as it was not material to the Company’s consolidated results.

Restructuring and Related Charg

Restructuring and Related Charges	12 Months Ended
	Dec. 31, 2017
Restructuring and Related Charges [Abstract]
Restructuring and Related Charges	4. Restructuring and Related Charges In October 2013, the Company implemented a restructuring to better align the Company’s resources with student enrollments at the time. This restructuring included the closing of 20 physical locations and reductions in the number of campus-based and corporate employees. A liability for lease obligations, some of which continue through 2022, was recorded and is measured at fair value using a discounted cash flow approach encompassing significant unobservable inputs (Level 3). The estimation of future cash flows includes non-cancelable contractual lease costs over the remaining terms of the leases discounted at the Company’s marginal borrowing rate of 4.5%, partially offset by estimated future sublease rental income discounted at credit-adjusted rates. The Company’s estimates, which involve significant judgment, also consider the amount and timing of sublease rental income based on subleases that have been executed and subleases expected to be executed based on current commercial real estate market data and conditions, and other qualitative factors specific to the facilities. The estimates are subject to adjustment as market conditions change or as new information becomes available, including the execution of additional sublease agreements. The following details the changes in the Company’s restructuring liability for lease and related costs during the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Balance at beginning of period (1) $ 27,283 $ 20,055 $ 11,985 Adjustments (2) 526 (1,632) 419 Payments (7,754) (6,438) (3,623) Balance at end of period (1) $ 20,055 $ 11,985 $ 8,781 (1) The current portion of restructuring liabilities was $4.2 million and $3.1 million as of December 31, 2016 and December 31, 2017, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities. (2) Adjustments include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2017
Property and Equipment [Abstract]
Property and Equipment	5. Property and Equipment The composition of property and equipment as of December 31, 2016 and 2017 is as follows (in thousands): Estimated useful 2016 2017 life (years) Land $ 7,138 $ 7,138 — Buildings and improvements 19,238 19,304 5-40 Furniture, equipment, and computer hardware and software 157,104 169,613 5-10 Leasehold improvements 39,769 42,906 3-10 Construction in progress 7,006 5,103 230,255 244,064 Accumulated depreciation and amortization (157,131) (170,301) $ 73,124 $ 73,763 Construction in progress includes costs associated with the construction and renovation of campuses and the development of information technology applications. In 2016 and 2017, the Company recorded leasehold improvements of $0.3 million and $1.2 million, respectively, which were reimbursed by lessors as lease incentives. In 2016 and 2017, the Company wrote off $3.2 million and $5.3 million, respectively, in fixed assets that were fully depreciated and no longer in service.

Fair Value Measurement

Fair Value Measurement	12 Months Ended
	Dec. 31, 2017
Fair Value Measurement [Abstract]
Fair Value Measurement	6. Fair Value Measurement Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2017 (in thousands): Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable December 31, Assets/Liabilities Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 113 $ 113 $ — $ — Liabilities: Deferred payments $ 4,514 $ — $ — $ 4,514 Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2016 (in thousands): Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable December 31, Assets/Liabilities Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 5,103 $ 5,103 $ — $ — Liabilities: Deferred payments $ 11,741 $ — $ — $ 11,741 The Company measures the above items on a recurring basis at fair value as follows: · Money market funds — Classified in Level 1 is excess cash the Company holds in both taxable and tax-exempt money market funds and are included in cash and cash equivalents in the accompanying consolidated balance sheets. The Company records any net unrealized gains and losses for changes in fair value as a component of accumulated other comprehensive income in stockholders’ equity. The Company’s cash and cash equivalents held at December 31, 2016 and 2017, approximate fair value and are not disclosed in the above tables because of the short-term nature of the financial instruments. · Deferred payments — The Company acquired certain assets and entered into deferred payment arrangements with the sellers in transactions that occurred in 2011 and 2016. The deferred payments are classified within Level 3 as there is no liquid market for similarly priced instruments, and are valued using models that encompass significant unobservable inputs to estimate the operating results of the acquired assets. The assumptions used to prepare the discounted cash flows include estimates for interest rates, enrollment growth, retention rates, obtaining regulatory approvals for expansion into new markets, and pricing strategies. These assumptions are subject to change as the underlying data sources evolve and the programs mature. The short-term portion of deferred payments was $1.3 million as of December 31, 2017 and is included in accounts payable and accrued expense. The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods and did not transfer assets or liabilities between levels of the fair value hierarchy during the years ended December 31, 2016 or 2017. Changes in the fair value of the Company’s Level 3 liabilities during the years ended December 31, 2016 and 2017 are as follows (in thousands): 2016 2017 Balance as of the beginning of period $ 3,278 $ 11,741 Amounts paid (7,358) (1,133) Contingent consideration in connection with NYCDA acquisition 14,500 — Other adjustments to fair value 1,321 (6,094) Balance at end of period $ 11,741 $ 4,514

Long Term Debt

Long Term Debt	12 Months Ended
	Dec. 31, 2017
Long Term Debt [Abstract]
Long Term Debt	7. Long Term Debt On July 2, 2015, the Company entered into an amended credit facility (the “Amended Credit Facility”) which provides for a revolving line of credit (the “Revolver”) up to $150 million and provides the Company with an option, under certain conditions, to increase the commitments under the Revolver or establish one or more incremental term loans in an amount up to $50 million in the aggregate in the future. The maturity date of the Amended Credit Facility is July 2, 2020. The Amended Credit Facility replaced the Company’s prior credit agreement (the “Prior Credit Agreement”), dated November 8, 2012, which had provided for both a term loan and revolving line of credit and an original maturity date of December 31, 2016. All amounts outstanding under the Prior Credit Agreement were repaid upon execution of the Amended Credit Facility. The Company paid approximately $0.9 million in debt financing costs associated with the Amended Credit Facility. Borrowings under the Revolver will bear interest at a per annum rate equal to, at the Company’s election, LIBOR or a base rate, plus a margin ranging from 1.75% to 2.25% depending on the Company’s leverage ratio. The Company also is subject to a quarterly unused commitment fee ranging from 0.25% to 0.35% per annum depending on the Company’s leverage ratio, times the daily unused amount under the Revolver. All other remaining terms of the Prior Credit Agreement remain in full force and effect. The Amended Credit Facility is guaranteed by the University and is secured by substantially all of the personal property and assets of the Company and its subsidiaries. The Amended Credit Facility contains customary affirmative and negative covenants, representations, warranties, events of default, and remedies upon default, including acceleration and rights to foreclose on the collateral securing the Amended Credit Facility. In addition, as with the Prior Credit Agreement, the Amended Credit Facility requires that the Company satisfy certain financial maintenance covenants, including: · A leverage ratio of not greater than 2 to 1. Leverage ratio is defined as the ratio of total debt to trailing four-quarter EBITDA (earnings before interest, taxes, depreciation, amortization, and noncash charges, such as stock-based compensation). · A coverage ratio of not less than 1.75 to 1. Coverage ratio is defined as the ratio of trailing four-quarter EBITDA and rent expense to trailing four-quarter interest and rent expense. · A Department of Education Financial Responsibility Composite Score of not less than 1.5. The Company was in compliance with all the terms of the Amended Credit Facility at December 31, 2017. During the years ended December 31, 2016 and 2017, the Company paid unused commitment fees of $0.3 million and $0.4 million, respectively. The Company’s average annual interest rate, including noncash charges for the amortization of debt financing costs, was 4.3% in 2015 during the period in which the Company had debt outstanding. The Company had no borrowings outstanding under the Revolver during 2017 and as of December 31, 2017.

Stock Options, Restricted Stock

Stock Options, Restricted Stock and Restricted Stock Units	12 Months Ended
	Dec. 31, 2017
Stock Options, Restricted Stock and Restricted Stock Units [Abstract]
Stock Options, Restricted Stock and Restricted Stock Units	8. Stock Options, Restricted Stock and Restricted Stock Units On May 5, 2015, the Company’s shareholders approved the Strayer Education, Inc. 2015 Equity Compensation Plan (the “2015 Plan”), which provides for the granting of restricted stock, restricted stock units, stock options intended to qualify as incentive stock options, options that do not qualify as incentive stock options, and other forms of equity compensation and performance-based awards to employees, officers, and directors of the Company, or to a consultant or advisor to the Company, at the discretion of the Board of Directors. Vesting provisions are at the discretion of the Board of Directors. Options may be granted at option prices based at or above the fair market value of the shares at the date of grant. The maximum term of the awards granted under the 2015 Plan is ten years. The number of shares of common stock reserved for issuance under the 2015 Plan is 500,000 authorized but unissued shares, plus the number of shares available for grant under the Company’s previously existing equity compensation plans at the time of stockholder approval of the 2015 Plan, plus the number of shares which may in the future become available under any previously existing equity compensation plan due to forfeitures of outstanding awards. In February 2017, the Company’s Board of Directors approved grants of 67,599 shares of restricted stock to certain employees. These shares, which vest over a four-year period, were granted pursuant to the 2015 Plan. The Company’s stock price closed at $81.66 on the date of these grants. In May 2017, the Company’s Board of Directors approved grants of 7,541 shares of restricted stock. These shares, which vest annually over a three-year period, were awarded to non-employee members of the Company’s Board of Directors, as part of the Company’s annual director compensation program and the 2015 Plan. The Company’s stock price closed at $86.83 on the date of these grants. Dividends paid on unvested restricted stock are reimbursed to the Company if the recipient forfeits his or her shares as a result of termination of employment prior to vesting in the award, other than as a result of the recipient’s death, disability, or certain qualifying terminations in connection with a change in control of the Company, unless waived by the Company. Restricted Stock and Restricted Stock Units The table below sets forth the restricted stock and restricted stock units activity for each of the three years in the period ended December 31, 2017: Number of Weighted- Balance, December 31, 2014 524,216 $ 115.67 Grants 126,655 61.00 Vested shares (13,725) 52.94 Forfeitures (2,819) 115.55 Balance, December 31, 2015 634,327 $ 104.66 Grants 188,737 50.63 Vested shares (23,539) 50.43 Forfeitures (72,425) 62.41 Balance, December 31, 2016 727,100 $ 97.53 Grants 75,140 82.18 Vested shares (84,908) 66.60 Forfeitures (1,204) 62.28 Balance, December 31, 2017 716,128 $ 99.65 Stock Options The table below sets forth the stock option activity and other stock option information for each of the three years in the period ended December 31, 2017: Weighted- average Weighted- remaining Aggregate Number of average contractual intrinsic value (1) shares exercise price life (years) (in thousands) Balance, December 31, 2014 100,000 $ 51.95 6.0 $ 2,233 Grants — — Exercises — — Forfeitures — — Balance, December 31, 2015 100,000 $ 51.95 5.1 $ 817 Grants — — Exercises — — Forfeitures — — Balance, December 31, 2016 100,000 $ 51.95 4.1 $ 2,868 Grants — — Exercises — — Forfeitures/Expirations — — Balance, December 31, 2017 100,000 $ 51.95 3.1 $ 3,763 Exercisable, December 31, 2017 100,000 $ 51.95 3.1 $ 3,763 (1) The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company’s common stock. The number of shares exercisable as of December 31, 2015, 2016, and 2017 are as follows: Number of Weighted-average Shares exercise price Exercisable, December 31, 2015 100,000 $ 51.95 Exercisable, December 31, 2016 100,000 $ 51.95 Exercisable, December 31, 2017 100,000 $ 51.95 Valuation and Expense Information under Stock Compensation Topic ASC 718 At December 31, 2017, total stock-based compensation cost which has not yet been recognized was $17.9 million for unvested restricted stock, restricted stock units, and stock option awards. This cost is expected to be recognized over the next 21 months on a weighted-average basis. Awards of approximately 561,000 shares of restricted stock and restricted stock units are subject to performance conditions. The accrual for stock-based compensation for performance awards is based on the Company’s estimates that such performance criteria are probable of being achieved over the respective vesting periods. Such a determination involves judgment surrounding the Company’s ability to maintain regulatory compliance. If the performance targets are not reached during the respective vesting period, or it is determined it is more likely than not that the performance criteria will not be achieved, related compensation expense is adjusted. The following table sets forth the amount of stock-based compensation expense recorded in each of the expense line items for the years ended December 31, 2015, 2016, and 2017 (in thousands): 2015 2016 2017 Instruction and educational support $ 2,134 $ 1,432 $ 1,943 Marketing — — — Admissions advisory — — — General and administration 8,079 9,335 9,684 Stock-based compensation expense included in operating expense 10,213 10,767 11,627 Tax benefit 4,032 4,256 4,593 Stock-based compensation expense, net of tax $ 6,181 $ 6,511 $ 7,034 During the year ended December 31, 2016, the Company recognized a tax shortfall related to share-based payment arrangements of approximately $0.1 million, which was recorded as an adjustment to additional paid-in capital. During the year ended December 31, 2017, the Company recognized a tax windfall related to share-based payment arrangements of approximately $0.6 million, which was recorded as an adjustment to the provision for income taxes following the adoption of ASU 2016-09. No stock options were exercised during the years ended December 31, 2016 or 2017. The following table summarizes information regarding share-based payment arrangements for the years ended December 31, 2015, 2016, and 2017 (in thousands): 2015 2016 2017 Proceeds from stock options exercised $ — $ — $ — Tax (shortfall) windfall related to share-based payment arrangements $ (24) $ (51) $ 562 Intrinsic value of stock options exercised $ — $ — $ —

Other Long-Term Liabilities

Other Long-Term Liabilities	12 Months Ended
	Dec. 31, 2017
Other Long-Term Liabilities [Abstract]
Other Long-Term Liabilities	9. Other Long-Term Liabilities Other long-term liabilities consist of the following as of December 31, 2016 and 2017 (in thousands): 2016 2017 Deferred revenue, net of current portion $ 17,981 $ 21,033 Deferred rent and other facility costs 8,251 7,113 Deferred payments related to acquisitions 13,754 6,385 Loss on facilities not in use 7,813 5,652 Lease incentives 2,684 2,832 Other long-term liabilities $ 50,483 $ 43,015 Deferred Revenue The Company provides for certain scholarship and awards programs, such as the Graduation Fund (see Note 2 for additional information), that can be redeemed in the future by students after meeting certain eligibility requirements. The Company also has licensed certain of its non-credit bearing course content to a third party. Long-term deferred revenue represents the amount of revenue under these arrangements that the Company expects will be realized after one year. Deferred Rent and Other Facility Costs and Loss on Facilities Not in Use The Company records a liability for lease costs of campuses and non-campus facilities that are not currently in use (see Note 4). For facilities still in use, the Company records rent expense on a straight-line basis over the initial term of a lease. The difference between the rent payment and the straight-line rent expense is recorded as a liability. Deferred Payments Related to Acquisitions In the first quarter of 2016, the Company acquired NYCDA and entered into deferred payment arrangements with the sellers in connection with this transaction. In April and August 2016, NYCDA received state regulatory permits and the Company subsequently paid $6.0 million and $0.5 million of deferred payments to the sellers, respectively. The fair value of the deferred payment arrangements at December 31, 2017 is zero, and the maximum possible amount that could be paid is $11.5 million. See Note 3 for further information on the NYCDA deferred payments. In 2011, the Company acquired certain assets and entered into deferred payment arrangements with the sellers. The deferred payment arrangements are valued at approximately $3.4 million and $3.6 million as of December 31, 2016 and 2017, respectively. In addition, one of the sellers contributed $2.8 million to the Company representing the seller’s continuing interest in the assets acquired. Lease Incentives In conjunction with the opening of new campuses or renovating existing ones, the Company, in some instances, was reimbursed by the lessors for improvements made to the leased properties. In accordance with ASC 840-20, the underlying assets were capitalized as leasehold improvements and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years.

Other Employee Benefit Plans

Other Employee Benefit Plans	12 Months Ended
	Dec. 31, 2017
Other Employee Benefit Plans [Abstract]
Other Employee Benefit Plans	10. Other Employee Benefit Plans The Company has a 401(k) plan covering all eligible employees of the Company. Effective January 1, 2018, participants may contribute up to $18,500 of their base compensation annually. Employee contributions are voluntary. Discretionary contributions were made by the Company matching 50% of employee deferrals up to a maximum of 3% of the employee’s annual salary. The Company’s contributions, which vest immediately, totaled $1.1 million, $1.1 million and $1.3 million for the years ended December 31, 2015, 2016, and 2017, respectively. In May 1998, the Company adopted the Strayer Education, Inc. Employee Stock Purchase Plan (“ESPP”). Under the ESPP, eligible employees may purchase shares of the Company’s common stock, subject to certain limitations, at 90% of its market value at the date of purchase. Purchases are limited to 10% of an employee’s eligible compensation. The aggregate number of shares of common stock that may be made available for purchase by participating employees under the ESPP is 2,500,000 shares. Shares purchased in the open market for employees for the years ended December 31, 2015, 2016, and 2017 were as follows: Shares Average price purchased per share 2015 5,136 $ 49.10 2016 4,988 $ 46.46 2017 4,718 $ 77.05

Stock Repurchase Plan

Stock Repurchase Plan	12 Months Ended
	Dec. 31, 2017
Stock Repurchase Plan [Abstract]
Stock Repurchase Plan	11. Stock Repurchase Plan In November 2003, the Company’s Board of Directors authorized the Company to repurchase up to an aggregate of $15 million in value of common stock in open market purchases from time to time at the discretion of the Company’s management depending on market conditions and other corporate considerations. The Company’s Board of Directors amended the program on various dates, increasing the repurchase amount authorized and extending the expiration date. At December 31, 2017, $70 million of the Company’s share repurchase authorization was remaining for repurchases through December 31, 2018. All of the Company’s share repurchases were effected in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. This stock repurchase plan may be modified, suspended, or terminated at any time by the Company without notice. Repurchases of common stock are recorded as a reduction to additional paid-in capital. To the extent additional paid-in capital had been reduced to zero through stock repurchases, retained earnings was then reduced. No shares were repurchased during each of the three years ended December 31, 2015, 2016, and 2017, and the Company has $70.0 million available for future repurchases.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies The University participates in various federal student financial assistance programs which are subject to audit by agencies, including the Department of Education, the Veterans Administration, and the Department of Defense. Management believes that the potential effects of audit adjustments, if any, for the periods currently under audit will not have a material adverse effect, individually or in the aggregate, on the Company’s consolidated financial position, results of operations, or cash flows. As of December 31, 2017, the Company had 81 long-term, non-cancelable operating leases for campuses and other administrative facilities. Rent expense was $37.5 million, $33.7 million, and $33.6 million for the years ended December 31, 2015, 2016, and 2017, respectively. Rent expense for 2016 includes a benefit of approximately $1.9 million, and rent expense for 2017 includes a charge of approximately $0.3 million to reduce the Company’s liability for losses on facilities no longer in use. The rents on the Company’s leases are subject to annual increases. The minimum rental commitments for the Company as of December 31, 2017 are as follows (in thousands): Minimum rental commitments 2018 $ 31,522 2019 26,851 2020 21,894 2021 16,797 2022 7,319 Thereafter 10,258 Total $ 114,641

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2017
Income Taxes [Abstract]
Income Taxes	13. Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act (the “2017 Act”) was signed into law, a broad range of tax reform legislation affecting businesses, including lowering corporate tax rates, among other provisions. Under accounting principles generally accepted in the United States of America, changes in tax rates and tax law are accounted for in the period of enactment. The company recognized the income tax effects of the 2017 Act in accordance with Staff Accounting Bulletin No. 118, which provides SEC staff guidance for the application of ASC Topic 740, Income Taxes , in the reporting period in which the 2017 Act was signed into law. As such, the Company’s financial results reflect the income tax effects of the 2017 Tax Act for which the accounting under ASC Topic 740 is complete. The Company did not identify items for which the income tax effects of the 2017 Act have not been completed and a reasonable estimate could not be determined as of December 31, 2017. The 2017 Act reduces the corporate tax rate from 35% to 21% for tax years beginning after December 31, 2017. ASC 740 requires deferred tax assets and liabilities to be valued using enacted tax rates in effect in the year in which the differences are expected to reverse. Thus, the Company revalued its federal deferred taxes based upon the new 21% tax rate, which resulted in an $11.4 million charge to the provision during the three months ended December 31, 2017. The 2017 Act also allows for immediate full expensing for property placed in service after September 27, 2017 and before January 1, 2023. The Company has made the election to accelerate these deductions for the year ended December 31, 2017 tax returns. At this time, it is uncertain which states will follow federal rules regarding accelerated depreciation and as such, the Company has not been able to make a reasonable estimate on the impact of deferred taxes related to state depreciation and continue to account for this based on the provisions of the tax laws that were in effect prior to enactment. In addition, the 2017 Act places limitations on the deductibility of certain executive compensation awards in the future, although the Company’s existing awards remain eligible for deductibility pursuant to the 2017 Act. The Company is still analyzing the 2017 Act and refining its calculations, which could potentially impact the measurement of the Company’s tax balances. The income tax provision for the years ended December 31, 2015, 2016 and 2017 is summarized below (in thousands): 2015 2016 2017 Current: Federal $ 25,515 $ 26,015 $ 21,156 State 4,538 4,869 4,477 Total current 30,053 30,884 25,633 Deferred: Change in federal tax rate due to the 2017 Act — — 11,375 Federal (3,634) (7,748) (3,193) State (311) (646) (1,781) Total deferred (3,945) (8,394) 6,401 Total provision for income taxes $ 26,108 $ 22,490 $ 32,034 The tax effects of the principal temporary differences that give rise to the Company’s deferred tax assets are as follows as of December 31, 2016 and 2017 (in thousands): 2016 2017 Stock-based compensation $ 20,477 $ 15,024 Property and equipment (6,059) (3,326) Other facility-related costs 5,242 2,622 Deferred revenue 7,182 5,445 Tuition receivable 3,922 — Deferred leasing costs 3,064 1,789 Prepaid compensation (1,139) (373) Other (1,592) 3,271 Net deferred tax asset $ 31,097 $ 24,452 The Company had no unrecognized tax benefits as of December 31, 2017. As of December 31, 2016, the Company’s liability for unrecognized tax benefits was included in income taxes payable in the consolidated balance sheet. Interest and penalties, including those related to uncertain tax positions, are included in the provision for income taxes in the consolidated statements of income. The Company recognized $0.1 million and $0.2 million of expense related to interest and penalties in 2016 and 2017, respectively. The total amount of interest and penalties included in the consolidated balance sheet was $0.1 million as of December 31, 2016. The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands): Year Ended December 31, 2016 2017 Beginning unrecognized tax benefits $ 505 $ 176 Reductions for tax positions taken in prior years (329) (176) Ending unrecognized tax benefits $ 176 $ — A reconciliation between the Company’s statutory tax rate and the effective tax rate for the years ended December 31, 2015, 2016, and 2017 is as follows: 2015 2016 2017 Statutory federal rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefits 4.2 4.5 4.2 Adjustment to deferred tax assets as a result of the 2017 Act — — 21.8 Transaction costs — — 5.2 Adjustments to contingent consideration — (0.3) (5.0) Other 0.3 0.1 (0.4) Effective tax rate 39.5 % 39.3 % 60.8 % Cash payments for income taxes were $28.5 million, $31.6 million, and $26.2 million in 2015, 2016, and 2017, respectively.

Summarized Quarterly Financial

Summarized Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2017
Summarized Quarterly Financial Data (Unaudited) [Abstract]
Summarized Quarterly Financial Data (Unaudited)	14. Summarized Quarterly Financial Data (Unaudited) Quarterly financial information for 2016 and 2017 is as follows (in thousands except per share data): Quarter 2016 First Second Third Fourth Revenues $ 111,166 $ 108,487 $ 102,156 $ 119,279 Income from operations 20,092 12,896 4,830 19,654 Net income 12,420 7,786 2,878 11,718 Net income per share: Basic $ 1.17 $ 0.73 $ 0.27 $ 1.10 Diluted $ 1.15 $ 0.72 $ 0.27 $ 1.07 Quarter 2017 First Second Third Fourth Revenues $ 114,912 $ 112,720 $ 108,512 $ 118,707 Income from operations 18,443 13,854 8,224 11,688 Net income (loss) 10,578 10,302 6,227 (6,495) Net income (loss) per share: Basic $ 1.00 $ 0.96 $ 0.58 $ (0.61) Diluted $ 0.95 $ 0.92 $ 0.56 $ (0.61)

Litigation

Litigation	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
Litigation	15. Litigation From time to time, the Company is involved in litigation and other legal proceedings arising out of the ordinary course of its business. There are no pending material legal proceedings to which the Company is subject or to which the Company’s property is subject.

Regulation

Regulation	12 Months Ended
	Dec. 31, 2017
Regulation [Abstract]
Regulation	16. Regulation Gainful Employment Under the Higher Education Act, a proprietary institution offering programs of study other than a baccalaureate degree in liberal arts (for which there is a limited statutory exception) must prepare students for gainful employment in a recognized occupation. The Department of Education has published final regulations related to gainful employment that went into effect on July 1, 2015, with the exception of new disclosure requirements, which generally went into effect January 1, 2017, although some portions of those requirements have been delayed until July 1, 2018. The new regulations include two debt-to-earnings measures, consisting of an annual income rate and a discretionary income rate. The annual income rate measures student debt in relation to earnings, and the discretionary income rate measures student debt in relation to discretionary income. A program passes if the program’s graduates: · have an annual income rate that does not exceed 8%; or · have a discretionary income rate that does not exceed 20%. In addition, a program that does not pass either of the debt-to-earnings metrics, and that has an annual income rate between 8% and 12%, or a discretionary income rate between 20% and 30%, is considered to be in a warning zone. A program fails if the program’s graduates have an annual income rate of 12% or greater and a discretionary income rate of 30% or greater. A program would become Title IV-ineligible for three years if it fails both metrics for two out of three consecutive years, or fails to pass at least one metric for four consecutive award years. The regulations provide a means by which an institution may challenge the Department of Education’s calculation of any of the debt metrics prior to loss of Title IV eligibility. On January 8, 2017, Strayer received its final 2015 debt-to-earnings measures. None of Strayer’s programs failed the debt-to-earnings metrics. Two active programs, the Associate in Arts in Accounting and Associate in Arts in Business Administration, are “in the zone,” which means each program remains fully eligible unless (1) either program has a combination of zone and failing designations for four consecutive years, in which case it would become Title IV-ineligible in the fifth year; or (2) either program fails the metrics for two out of three consecutive years, in which case the program could become ineligible for the following award year. If an institution is notified by the Secretary of Education that a program could become ineligible, based on its final rates, for the next award year: · The institution must provide a warning with respect to the program to students and prospective students indicating, among other things, that students may not be able to use Title IV funds to attend or continue in the program; and · The institution must not enroll, register, or enter into a financial commitment with a prospective student until a specified time after providing the warning to the prospective student. The new regulation also requires institutions annually to report student- and program-level data to the Department of Education, and comply with additional disclosure requirements. Regulations adopted by the Department of Education require an institution to use a template designed by the Department of Education to disclose to prospective students, with respect to each gainful employment program, occupations that the program prepares students to enter, total cost of the program, on-time graduation rate, job placement rate, if applicable, and the median loan debt of program completers for the most recently completed award year. The regulation that became effective July 1, 2015 expanded upon those existing disclosure requirements and institutions were required to update their disclosure templates by July 1, 2017. In addition, the gainful employment regulation requires institutions to certify, among other things, that each eligible gainful employment program is programmatically accredited, if required by a federal governmental entity or a state governmental entity of a state in which it is located or is otherwise required to obtain state approval. Institutions also must certify that each eligible program satisfies the applicable educational prerequisites for professional licensure or certification requirements in each state in which it is located or is otherwise required to obtain state approval, so that a student who completes the program and seeks employment in that state qualifies to take any licensure or certification exam that is needed for the student to practice or find employment in an occupation that the program prepares students to enter. The University has timely made the required certification. Under the gainful employment regulation, an institution may establish a new program’s Title IV eligibility by updating the list of the institution’s programs maintained by the Department of Education. However, an institution may not update its list of eligible programs to include a failing or zone program that the institution voluntarily discontinued or became ineligible, or a gainful employment program that is substantially similar to such a program, until three years after the loss of eligibility or discontinuance. The requirements associated with the gainful employment regulations may substantially increase the Company’s administrative burdens and could affect our program offerings, student enrollment, persistence, and retention. Further, although the regulations provide opportunities for an institution to correct any potential deficiencies in a program prior to the loss of Title IV eligibility, the continuing eligibility of the Company’s academic programs will be affected by factors beyond management’s control such as changes in the Company’s graduates’ income levels, changes in student borrowing levels, increases in interest rates, changes in the percentage of former students who are current in the repayment of their student loans, and various other factors. Even if the Company were able to correct any deficiency in the gainful employment metrics in a timely manner, the disclosure requirements associated with a program’s failure to meet at least one metric may adversely affect student enrollments in that program and may adversely affect the reputation of the University. The Clery Act Strayer University must comply with the campus safety and security reporting requirements as well as other requirements in the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act (the “Clery Act”) including changes made to the Clery Act by the Violence Against Women Reauthorization Act of 2013. On October 20, 2014, the Department promulgated regulations, effective July 1, 2015, implementing amendments to the Clery Act. In addition, the Department has interpreted Title IX to categorize sexual violence as a form of prohibited sex discrimination and to require institutions to follow certain disciplinary procedures with respect to such offenses. Failure by Strayer University to comply with the Clery Act or Title IX requirements or regulations thereunder could result in action by the Department fining Strayer University, or limiting or suspending its participating in Title IV programs, could lead to litigation, and could harm Strayer University’s reputation. We believe that Strayer University is in compliance with these requirements. Compliance Reviews Strayer University is subject to announced and unannounced compliance reviews and audits by various external agencies, including the Department of Education, its Office of Inspector General, state licensing agencies, guaranty agencies, and accrediting agencies. The Department conducted four campus-based program reviews of Strayer University campuses in three states and the District of Columbia, with one on-site review conducted August 18-20, 2014; one on-site review conducted September 8-11, 2014; and two on-site reviews conducted September 22-26, 2014. The reviews covered federal financial aid years 2012-2013 and 2013-2014, and two of the reviews also covered compliance with the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act, the Drug-Free Schools and Communities Act, and regulations related thereto. On October 21, 2014, the Department issued an Expedited Final Program Review Determination Letter for one of the program reviews conducted the week of September 22, 2014, closing the program review with no further action required by the University. On November 17, 2014, the University received a Program Review Report for the program review conducted in August 2014, and provided a response to the Department on December 15, 2014. On January 7, 2015, the University received a Final Program Review Determination letter from that review, closing the review with no further action required by the University. On March 24, 2015, the University received a Program Review Report for another program review, and provided a response to the Department on April 21, 2015. On April 29, 2015, the University received a Final Program Review Determination Letter closing the review and identifying a payment of less than $500 due to the Department of Education based on an underpayment on a return to Title IV calculation. The University remitted payment, and received a letter from the Department on May 26, 2015, indicating that no further action was required and that the matter was closed. On September 15, 2015, the University received a Program Review Report for the final program review, and provided a response to the Department on October 5, 2015. On January 5, 2016 the University received a Final Program Review Determination Letter for the final program review, indicating that the program review was closed and no further action was required. Program Participation Agreement Each institution participating in Title IV programs must enter into a Program Participation Agreement with the Department. Under the agreement, the institution agrees to follow the Department’s rules and regulations governing Title IV programs. On October 11, 2017, the Department and Strayer University executed a new Program Participation Agreement, approving Strayer University’s continued participation in Title IV programs with full certification through June 30, 2021.

Merger with Capella Education C

Merger with Capella Education Company	12 Months Ended
	Dec. 31, 2017
Merger with Capella Education Company [Abstract]
Merger with Capella Education Company	17. Merger with Capella Education Company On October 29, 2017, the Company entered into a merger agreement with Capella Education Company (“Capella”). Capella provides post-secondary education and job-skills programs primarily through its subsidiary Capella University. The merger was approved by the Company’s shareholders and by Capella’s stockholders on January 19, 2018. Upon consummation of the merger, Capella will become a wholly-owned subsidiary of the Company and will continue to offer its education programs through Capella University. Pursuant to the Merger Agreement, the Company will issue 0.875 shares of Strayer Common Stock for each issued and outstanding share of Capella Common Stock. Outstanding equity awards held by current Capella employees and certain non-employee directors of Capella will be assumed by the Company and converted into comparable Strayer awards at the exchange ratio. Outstanding equity awards held by Capella non-employee directors who will not serve as directors of Strayer after completion of the merger and by former Capella employees will be settled in connection with the completion of the merger in exchange for cash payments as specified in the merger agreement. Following the merger, Strayer and Capella stockholders are expected to own approximately 52% and 48%, respectively, of the outstanding combined company shares on a fully diluted basis, based on the number of shares currently expected to be outstanding immediately prior to the effective time of the merger. Also in connection with the completion of the merger, and as approved by the Company’s shareholders on January 19, 2018, the Company will change its name to Strategic Education, Inc. and increase the number of shares of authorized Common Stock to 32,000,000. The merger is anticipated to close in the third quarter of 2018, subject to the satisfaction of customary closing conditions, including the receipt of approvals by the Department of Education, state educational regulators, and relevant accreditation bodies.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Significant Accounting Policies [Abstract]
Financial Statement Presentation	Financial Statement Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. On January 13, 2016, the Company acquired all of the outstanding stock of NYCDA, and the results of NYCDA are included with the Company from the acquisition date. All intercompany accounts and transactions have been eliminated in the consolidated financial statements.
Revenue Recognition	Revenue Recognition The Company’s educational programs typically are offered on a quarterly basis and such periods coincide with the Company’s quarterly financial reporting periods. During the year ended December 31, 2017, most of the Company’s revenue came from the University, which derived approximately 96% of its revenues from tuition revenue, which is recognized in the quarter of instruction. Tuition revenue is assessed for collectibility on a student-by-student basis throughout the quarter of instruction, and is shown net of any refunds, withdrawals, corporate discounts, scholarships, and employee tuition discounts. This collectibility assessment considers available sources of funds for the student, including financial aid programs provided through Title IV of the Higher Education Act. The Company reassesses the collectibility of tuition revenue that it may earn based on new information and changes in the facts and circumstances relevant to a student’s ability to pay, including the timing of a student’s withdrawal from a program of study. At the start of each academic term or program, a liability (deferred revenue) is recorded for academic services to be provided and a tuition receivable is recorded for the portion of the tuition not paid in advance. Any cash received prior to the start of an academic term or program is recorded as deferred revenue. Some students may be eligible for scholarship awards, the estimated value of which will be realized in the future and is deducted from revenue when earned, based on historical student attendance and completion behavior. Deferred revenue is recorded as a current or long-term liability in the consolidated balance sheets based on when the benefit is expected to be realized. Revenues also include textbook-related income, certificate revenue, certain academic fees, licensing revenue, and other income, which are recognized when earned. The Company’s refund policy typically permits students who complete less than half of a course to receive a partial refund of tuition for that course. Refunds reduce the tuition revenue that would have otherwise been recognized for that student. Since the University’s academic terms coincide with the Company’s financial reporting periods, nearly all refunds are processed and recorded within the same quarter as the corresponding revenue. The amount of tuition revenue refundable to students may vary based on the student’s state of residence. Unused books and related academic materials may be returned for a full refund within 21 days of the start of class; however, purchases of electronic content are not refundable if downloaded. Revenues derived from fees are not eligible for a refund.
Graduation Fund	Graduation Fund In 2013, the University introduced the Graduation Fund, which allows new undergraduate students to earn tuition credits that are redeemable in the final year of a student’s course of study if he or she successfully remains in the program. New students registering in credit-bearing courses in any undergraduate program receive one free course for every three courses that are successfully completed. Students must meet all of the University’s admission requirements, and must be enrolled in a bachelor’s degree program. The Company’s employees and their dependents are not eligible for the program. Students who have more than one consecutive term of non-attendance lose any Graduation Fund credits earned to date, but may earn and accumulate new credits if the student is reinstated or readmitted by the University in the future. Revenue from students participating in the Graduation Fund is recorded in accordance with the Revenue Recognition Topic, ASC 605-50. The Company defers the value of benefits estimated to be redeemed in the future based on the underlying revenue transactions that result in progress by the student toward earning the benefit. The Company’s estimate of the benefits that will be redeemed in the future is based on its historical experience of student persistence toward completion of a course of study within this program and similar programs. Each quarter, the Company assesses its methodologies and assumptions underlying these estimates and, to date, any adjustments to the estimates have not been material. The amount estimated to be redeemed in the next 12 months is $19.1 million and is included in deferred revenue as a current liability in the consolidated balance sheets. The table below presents activity in the Graduation Fund for the years ended December 31, 2016 and 2017 (in thousands): December 31, December 31, 2016 2017 Balance at beginning of period $ 20,937 $ 29,499 Revenue deferred 20,766 25,360 Benefit redeemed (12,204) (17,459) Balance at end of period $ 29,499 $ 37,400
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash maintained in mostly FDIC-insured bank accounts and cash invested in bank overnight deposits and money market mutual funds. The Company places its cash and temporary cash investments with various financial institutions. The Company considers all highly liquid instruments purchased with a maturity of three months or less at the date of purchase to be cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk 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.
Restricted Cash	Restricted Cash A significant portion of the Company’s revenues are funded by various federal and state government programs. The Company generally does not receive funds from these programs prior to the start of the corresponding academic term. The Company may be required to return certain funds for students who withdraw from the University during the academic term. The Company had approximately $13,000 and $15,000 as of December 31, 2016 and 2017, respectively, of these unpaid obligations, which are recorded as restricted cash and included in other current assets in the consolidated balance sheets. As part of commencing operations in Pennsylvania in 2003, the Company was required to maintain a “minimum protective endowment” of at least $0.5 million in an interest-bearing account. These funds are required as long as the Company operates its campuses in the state. The Company holds these funds in an interest-bearing account which is included in other assets.
Tuition Receivable and Allowance for Doubtful Accounts	Tuition Receivable and Allowance for Doubtful Accounts The Company records tuition receivable and deferred revenue for its students upon the start of the academic term or program. Therefore, at the end of the quarter (and academic term), tuition receivable generally represents amounts due from students for educational services already provided and deferred revenue generally represents advance payments from students for academic services to be provided in the future. Tuition receivables are not collateralized; however, credit risk is minimized as a result of the diverse nature of the University’s student base. An allowance for doubtful accounts is established primarily based upon historical collection rates by age of receivable, net of estimated recoveries. These collection rates incorporate historical performance based on a student’s current enrollment status and likelihood of future enrollment. The Company periodically assesses its methodologies for estimating bad debts in consideration of actual experience. The Company’s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2016 and 2017 (in thousands): December 31, 2016 December 31, 2017 Tuition receivable $ 30,733 $ 35,809 Allowance for doubtful accounts (10,201) (12,687) Tuition receivable, net $ 20,532 $ 23,122 Approximately $2.3 million and $2.9 million of tuition receivable is included in other assets as of December 31, 2016 and 2017, respectively, because these amounts are expected to be collected after 12 months. The following table illustrates changes in the Company’s allowance for doubtful accounts for each of the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Allowance for doubtful accounts, beginning of period $ 8,835 $ 10,024 $ 10,201 Additions charged to expense 13,067 16,503 21,751 Write-offs, net of recoveries (11,878) (16,326) (19,265) Allowance for doubtful accounts, end of period $ 10,024 $ 10,201 $ 12,687
Property and Equipment	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. In accordance with the Property, Plant and Equipment Topic, ASC 360, the carrying values of the Company’s assets are re-evaluated when events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If it is determined that an impairment loss has occurred based on expected undiscounted future cash flows, then a loss is recognized using a fair value-based model. Through 2017, no such impairment loss had occurred. Depreciation and amortization of property and equipment is calculated using the straight-line method over the estimated useful lives ranging from three to 40 years. Depreciation and amortization expense was $18.1 million, $17.8 million and $18.7 million for the years ended December 31, 2015, 2016, and 2017, respectively. Construction in progress includes costs of computer software developed for internal use, which is accounted for in accordance with the Internal-Use Software Topic, ASC 350-40. Computer software development costs that are incurred in the preliminary project stage are expensed as incurred. During the development stage, direct consulting costs, payroll, and payroll-related costs for employees that are directly associated with the project are capitalized and will be amortized over the estimated useful life of the software once placed into operation. Purchases of property and equipment and changes in accounts payable for each of the three years in the period ended December 31, 2017 in the consolidated statements of cash flows have been adjusted to exclude noncash purchases of property and equipment transactions during that period.
Fair Value	Fair Value The Fair Value Measurement Topic, ASC 820-10 (“ASC 820-10”), establishes a framework for measuring fair value, establishes a fair value hierarchy based upon the observability of inputs used to measure fair value, and expands disclosures about fair value measurements. Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. Under ASC 820-10, fair value of an investment is the price that would be received to sell an asset or to transfer a liability to an entity in an orderly transaction between market participants at the measurement date. The hierarchy gives the highest priority to assets and liabilities with readily available quoted prices in an active market and lowest priority to unobservable inputs which require a higher degree of judgment when measuring fair value, as follows: · Level 1 assets or liabilities use quoted prices in active markets for identical assets or liabilities as of the measurement date; · Level 2 assets or liabilities use observable inputs, other than quoted market prices, that are either directly or indirectly observable in the marketplace for identical or similar assets and liabilities; and · Level 3 assets or liabilities use unobservable inputs that are supported by little or no market activity. The Company’s assets and liabilities that are subject to fair value measurement are categorized in one of the three levels above. Fair values are based on the inputs available at the measurement dates, and may rely on certain assumptions that may affect the valuation of fair value for certain assets or liabilities.
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the purchase price of an acquired business over the amount assigned to the assets acquired and liabilities assumed. Indefinite-lived intangible assets, which include trade names, are recorded at fair market value on their acquisition date. An indefinite life was assigned to the trade names because they have the continued ability to generate cash flows indefinitely. Goodwill and the indefinite-lived intangible assets are assessed at least annually for impairment during the fourth quarter, or more frequently if events occur or circumstances change between annual tests that would more likely than not reduce the fair value of the respective reporting unit below its carrying amount. During the three months ended December 31, 2017, the Company performed its annual impairment testing of goodwill and indefinite-lived intangible assets assigned to JWMI and NYCDA. Following a qualitative assessment, the Company determined that it is not more likely than not that the fair value of its goodwill and indefinite-lived intangible assets for JWMI was less than the carrying amount, and accordingly, no impairment existed in 2017. For goodwill assigned to NYCDA, the Company bypassed the qualitative assessment and performed Step 1 of the goodwill impairment test as well as a quantitative impairment test of the indefinite-lived intangible asset. Based on these tests, the Company determined the fair value of NYCDA exceeded its carrying value, and there was no impairment of the goodwill and indefinite-lived intangible asset assigned to NYCDA as of December 31, 2017. The following table presents changes in goodwill for the years ended December 31, 2016 and 2017 (in thousands): 2016 2017 Balance as of the beginning of period $ 6,800 $ 20,744 Acquisition (see Note 3) 14,242 — Measurement period adjustments (298) — Balance as of the end of period $ 20,744 $ 20,744
Long-Term Liabilities	Long-Term Liabilities Included in the Company’s long-term liabilities are amounts related to the Company’s operating leases, deferred payments related to a prior acquisition, and the non-current portion of deferred revenue. In conjunction with the opening of some campuses and other facilities, the Company was reimbursed by the lessors for improvements made to those leased properties. In accordance with the Operating Leases Subtopic, ASC 840-20 (“ASC 840-20”), these underlying assets were capitalized as leasehold improvements, and a liability was established for the reimbursements. The leasehold improvements and the liability are amortized on a straight-line basis over the corresponding lease terms, which generally range from five to ten years. In accordance with ASC 840-20, the Company records rent expense on a straight-line basis over the initial term of a lease. The cumulative difference between the rent payment and the straight-line rent expense is recorded as a liability.
Authorized Stock	Authorized Stock The Company has authorized 20,000,000 shares of common stock, par value $.01, of which 11,093,489 and 11,167,425 shares were issued and outstanding as of December 31, 2016 and 2017, respectively. The Company also has authorized 8,000,000 shares of preferred stock, none of which is issued or outstanding. Before any preferred stock may be issued in the future, the Board of Directors would need to establish the preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, and the terms or conditions of the redemption of the preferred stock. In February 2017, the Company’s Board of Directors declared a regular, annual cash dividend of $1.00 per share of common stock. The Company paid $0.25 per common share in each of March, June, September and December of 2017.
Advertising Costs	Advertising Costs The Company expenses advertising costs in the quarter incurred, except for costs associated with the production of media commercials, which are expensed when the commercial is first aired.
Stock-Based Compensation	Stock-Based Compensation As required by the Stock Compensation Topic, ASC 718, the Company measures and recognizes compensation expense for all share-based payment awards made to employees and directors, including employee stock options, restricted stock, restricted stock units, and employee stock purchases related to the Company’s Employee Stock Purchase Plan, based on estimated fair values. Stock-based compensation expense recognized in the consolidated statements of income for each of the three years in the period ended December 31, 2017 is based on awards ultimately expected to vest and, therefore, has been adjusted for estimated forfeitures. The Company estimates forfeitures at the time of grant and revises the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The forfeiture rate used is based on historical experience. The Company also assesses the likelihood that performance criteria associated with performance-based awards will be met. If it is determined that it is more likely than not that performance criteria will not be achieved, the Company revises its estimate of the number of shares it believes will ultimately vest. Effective January 1, 2017, the Company adopted ASU No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 impacts several aspects of the accounting for share-based payment transactions, including classification of certain items on the consolidated statement of cash flows and accounting for income taxes. Specifically, ASU 2016-09 requires excess tax benefits and tax deficiencies to be recognized as income tax expense or benefit in earnings, which may introduce significant volatility to the Company’s provision for income taxes. Also, all tax-related cash flows resulting from share-based payments will now be reported as operating activities in the statement of cash flows. The Company has elected to apply this cash flow guidance prospectively and there was no impact to the prior period presentation. In addition, pursuant to ASU 2016-09, the Company has elected to continue to estimate forfeitures ratably over the life of awards. The adoption of ASU 2016-09 has not materially impacted the Company’s financial statements. See Note 8 for additional information.
Net Income Per Share	Net Income Per Share Basic earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the periods. Diluted earnings per share reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unexercised stock options, restricted stock, and restricted stock units. The dilutive effect of stock awards was determined using the treasury stock method. Under the treasury stock method, all of the following are assumed to be used to repurchase shares of the Company’s common stock: (1) the proceeds received from the exercise of stock options, and (2) the amount of compensation cost associated with the stock awards for future service not yet recognized by the Company. Stock options are not included in the computation of diluted earnings per share when the stock option exercise price of an individual grant exceeds the average market price for the period. During the years ended December 31, 2015, 2016, and 2017, the Company had no issued and outstanding stock options that were excluded from the calculation. Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Weighted average shares outstanding used to compute basic earnings per share 10,588 10,610 10,678 Incremental shares issuable upon the assumed exercise of stock options 6 5 39 Unvested restricted stock and restricted stock units 146 230 482 Shares used to compute diluted earnings per share 10,740 10,845 11,199
Income Taxes	Income Taxes The Company provides for deferred income taxes based on temporary differences between financial statement and income tax bases of assets and liabilities using enacted tax rates in effect in the year in which the differences are expected to reverse. The Income Taxes Topic, ASC 740, requires the company to determine whether uncertain tax positions should be recognized within the Company’s financial statements. The Company recognizes interest and penalties, if any, related to uncertain tax positions in income tax expense. Uncertain tax positions are recognized when a tax position, based solely on its technical merits, is determined more likely than not to be sustained upon examination. Upon determination, uncertain tax positions are measured to determine the amount of benefit that is greater than 50% likely to be realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. A tax position is derecognized if it no longer meets the more likely than not threshold of being sustained. The tax years since 2014 remain open for federal tax examination and the tax years since 2013 remain open to examination by state and local taxing jurisdictions in which the Company is subject.
Use of Estimates	Use of Estimates 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, fair value of future contractual operating lease obligations, 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, intangible assets, fair value of contingent consideration, and the provision for income taxes. Actual results could differ from those estimates.
Comprehensive Income	Comprehensive Income Comprehensive income consists of net income and the change in the fair value of the Company’s previous interest rate swap, net of income taxes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”) which supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of ASU 2014-09 is for a company to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. The effective date of ASU 2014-09 is for fiscal years, and interim periods within those years, beginning after December 15, 2017. During 2016 and 2017, the FASB issued additional ASUs amending certain aspects of ASU 2014-09. ASU 2014-09 allows either a full retrospective adoption to all periods presented or a modified retrospective adoption approach, with the cumulative effect of initial application of the revised guidance recognized at the date of initial application. The Company has finalized its assessment of key revenue streams, including a comparison of current accounting policies and practices to the new standard, and is determining the appropriate changes to business processes and controls. Based on its evaluation to date, the Company believes that under the new standard, the allocation of revenue to certain performance obligations will result in changes in the timing of revenue recognition between interim periods for one of its performance obligations. However, any changes associated with the adoption of ASU 2014-09 are not expected to have a significant impact on annual revenue recognized, and are not expected to have a material impact on the Company’s consolidated financial statements. The Company has adopted ASU 2014-09 effective as of January 1, 2018 using the modified retrospective approach and accordingly, will complete the analysis of the cumulative effect adjustment to retained earnings and prepare enhanced disclosures pertaining to revenue recognition, including additional information about performance obligations, contract balances, and significant judgments and estimates used in applying the guidance, for the quarterly and annual filings beginning in the first quarter of 2018. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU 2016-02”). The new guidance requires the recognition of right-of-use assets and lease liabilities on the balance sheet for most leases. Under current guidance, operating leases are off-balance sheet. ASU 2016-02 also requires more extensive quantitative and qualitative disclosures about leasing arrangements. ASU 2016-02 applies to fiscal periods beginning after December 15, 2018, using the modified retrospective method, with early adoption permitted. The Company anticipates that the impact of ASU 2016-02 on its consolidated balance sheet will be material as the Company will record significant asset and corresponding liability balances in connection with its leased properties. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses, which applies to ASC Topic 326, Measurement of Credit Losses on Financial Instruments. The new guidance revises the accounting requirements related to the measurement of credit losses and will require organizations to measure all expected credit losses for financial assets based on historical experience, current conditions, and reasonable and supportable forecasts about collectibility. Assets must be presented in the financial statements at the net amount expected to be collected. The guidance will be effective for the Company's annual and interim reporting periods beginning January 1, 2020, with early adoption permitted. The Company is evaluating the impact this standard will have on its financial condition, results of operations, and disclosures. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows: Restricted Cash (Topic 230) (“ASU 2016-18”). Under ASU 2016-18, an entity should include in its cash and cash-equivalent balances in the statement of cash flows those amounts that are deemed to be restricted cash and restricted cash equivalents. The standard will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, and the Company does not expect adoption of ASU 2016-18 to have a material impact on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment, which simplifies the subsequent measurement of goodwill only in the event that an impairment is recognized. The amendments in this update should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019, though early adoption is permitted. The Company will adopt this guidance effective as of January 1, 2018, and does not expect it will have a material impact on its consolidated financial statements. Other ASUs issued by the FASB but not yet effective are not expected to have a material effect on the Company’s consolidated financial statements

Significant Accounting Polici26

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2017
Significant Accounting Policies [Abstract]
Schedule of graduation fund liability	The table below presents activity in the Graduation Fund for the years ended December 31, 2016 and 2017 (in thousands): December 31, December 31, 2016 2017 Balance at beginning of period $ 20,937 $ 29,499 Revenue deferred 20,766 25,360 Benefit redeemed (12,204) (17,459) Balance at end of period $ 29,499 $ 37,400
Schedule of tuition receivable and allowance for doubtful accounts	The Company’s tuition receivable and allowance for doubtful accounts were as follows as of December 31, 2016 and 2017 (in thousands): December 31, 2016 December 31, 2017 Tuition receivable $ 30,733 $ 35,809 Allowance for doubtful accounts (10,201) (12,687) Tuition receivable, net $ 20,532 $ 23,122
Schedule of allowance for doubtful accounts	The following table illustrates changes in the Company’s allowance for doubtful accounts for each of the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Allowance for doubtful accounts, beginning of period $ 8,835 $ 10,024 $ 10,201 Additions charged to expense 13,067 16,503 21,751 Write-offs, net of recoveries (11,878) (16,326) (19,265) Allowance for doubtful accounts, end of period $ 10,024 $ 10,201 $ 12,687
Schedule of changes in goodwill	The following table presents changes in goodwill for the years ended December 31, 2016 and 2017 (in thousands): 2016 2017 Balance as of the beginning of period $ 6,800 $ 20,744 Acquisition (see Note 3) 14,242 — Measurement period adjustments (298) — Balance as of the end of period $ 20,744 $ 20,744
Schedule of reconciliation of shares used to calculate basic and diluted earnings per share	Set forth below is a reconciliation of shares used to calculate basic and diluted earnings per share for each of the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Weighted average shares outstanding used to compute basic earnings per share 10,588 10,610 10,678 Incremental shares issuable upon the assumed exercise of stock options 6 5 39 Unvested restricted stock and restricted stock units 146 230 482 Shares used to compute diluted earnings per share 10,740 10,845 11,199

Acquisition of New York Code 27

Acquisition of New York Code and Design Academy (Tables)	12 Months Ended
	Dec. 31, 2017
Acquisition of New York Code and Design Academy [Abstract]
Summary of purchase price allocated to assets acquired and liabilities assumed at fair value	Purchase Price Allocation Useful Life Cash $ Other assets Intangibles: Trade name Indefinite Goodwill Liabilities assumed Total assets acquired and liabilities assumed, net Less: contingent consideration Less: cash acquired Cash paid for acquisition, net of cash acquired $

Restructuring and Related Cha28

Restructuring and Related Charges (Tables)	12 Months Ended
	Dec. 31, 2017
Restructuring and Related Charges [Abstract]
Schedule of restructuring liability by type of cost	The following details the changes in the Company’s restructuring liability for lease and related costs during the three years ended December 31, 2017 (in thousands): 2015 2016 2017 Balance at beginning of period (1) $ 27,283 $ 20,055 $ 11,985 Adjustments (2) 526 (1,632) 419 Payments (7,754) (6,438) (3,623) Balance at end of period (1) $ 20,055 $ 11,985 $ 8,781 (1) The current portion of restructuring liabilities was $4.2 million and $3.1 million as of December 31, 2016 and December 31, 2017, respectively, which are included in accounts payable and accrued expenses. The long-term portion is included in other long-term liabilities. (2) Adjustments include accretion of interest on lease costs, partially offset by changes in the timing and expected income from sublease agreements.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Property and Equipment [Abstract]
Composition of property and equipment	The composition of property and equipment as of December 31, 2016 and 2017 is as follows (in thousands): Estimated useful 2016 2017 life (years) Land $ 7,138 $ 7,138 — Buildings and improvements 19,238 19,304 5-40 Furniture, equipment, and computer hardware and software 157,104 169,613 5-10 Leasehold improvements 39,769 42,906 3-10 Construction in progress 7,006 5,103 230,255 244,064 Accumulated depreciation and amortization (157,131) (170,301) $ 73,124 $ 73,763

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Measurement [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2017 (in thousands): Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable December 31, Assets/Liabilities Inputs Inputs 2017 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 113 $ 113 $ — $ — Liabilities: Deferred payments $ 4,514 $ — $ — $ 4,514 Assets and liabilities measured at fair value on a recurring basis consist of the following as of December 31, 2016 (in thousands): Fair Value Measurements at Reporting Date Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable December 31, Assets/Liabilities Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) Assets: Money market funds $ 5,103 $ 5,103 $ — $ — Liabilities: Deferred payments $ 11,741 $ — $ — $ 11,741
Schedule of changes in fair value of level 3 liability	Changes in the fair value of the Company’s Level 3 liabilities during the years ended December 31, 2016 and 2017 are as follows (in thousands): 2016 2017 Balance as of the beginning of period $ 3,278 $ 11,741 Amounts paid (7,358) (1,133) Contingent consideration in connection with NYCDA acquisition 14,500 — Other adjustments to fair value 1,321 (6,094) Balance at end of period $ 11,741 $ 4,514

Stock Options, Restricted Sto31

Stock Options, Restricted Stock and Restricted Stock Units (Tables)	12 Months Ended
	Dec. 31, 2017
Stock Options, Restricted Stock and Restricted Stock Units [Abstract]
Schedule of restricted stock and restricted stock units activity	Number of Weighted- Balance, December 31, 2014 524,216 $ 115.67 Grants 126,655 61.00 Vested shares (13,725) 52.94 Forfeitures (2,819) 115.55 Balance, December 31, 2015 634,327 $ 104.66 Grants 188,737 50.63 Vested shares (23,539) 50.43 Forfeitures (72,425) 62.41 Balance, December 31, 2016 727,100 $ 97.53 Grants 75,140 82.18 Vested shares (84,908) 66.60 Forfeitures (1,204) 62.28 Balance, December 31, 2017 716,128 $ 99.65
Schedule of stock option activity and other stock option information	Weighted- average Weighted- remaining Aggregate Number of average contractual intrinsic value (1) shares exercise price life (years) (in thousands) Balance, December 31, 2014 100,000 $ 51.95 6.0 $ 2,233 Grants — — Exercises — — Forfeitures — — Balance, December 31, 2015 100,000 $ 51.95 5.1 $ 817 Grants — — Exercises — — Forfeitures — — Balance, December 31, 2016 100,000 $ 51.95 4.1 $ 2,868 Grants — — Exercises — — Forfeitures/Expirations — — Balance, December 31, 2017 100,000 $ 51.95 3.1 $ 3,763 Exercisable, December 31, 2017 100,000 $ 51.95 3.1 $ 3,763 (1) The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the respective trading day and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holder had all options been exercised on the respective trading day. The amount of intrinsic value will change based on the fair market value of the Company’s common stock.
Summary of number of shares exercisable	The number of shares exercisable as of December 31, 2015, 2016, and 2017 are as follows: Number of Weighted-average Shares exercise price Exercisable, December 31, 2015 100,000 $ 51.95 Exercisable, December 31, 2016 100,000 $ 51.95 Exercisable, December 31, 2017 100,000 $ 51.95
Schedule of stock-based compensation expense	The following table sets forth the amount of stock-based compensation expense recorded in each of the expense line items for the years ended December 31, 2015, 2016, and 2017 (in thousands): 2015 2016 2017 Instruction and educational support $ 2,134 $ 1,432 $ 1,943 Marketing — — — Admissions advisory — — — General and administration 8,079 9,335 9,684 Stock-based compensation expense included in operating expense 10,213 10,767 11,627 Tax benefit 4,032 4,256 4,593 Stock-based compensation expense, net of tax $ 6,181 $ 6,511 $ 7,034
Schedule of information regarding share-based payment arrangements	The following table summarizes information regarding share-based payment arrangements for the years ended December 31, 2015, 2016, and 2017 (in thousands): 2015 2016 2017 Proceeds from stock options exercised $ — $ — $ — Tax (shortfall) windfall related to share-based payment arrangements $ (24) $ (51) $ 562 Intrinsic value of stock options exercised $ — $ — $ —

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	12 Months Ended
	Dec. 31, 2017
Other Long-Term Liabilities [Abstract]
Schedule of other long-term liabilities	Other long-term liabilities consist of the following as of December 31, 2016 and 2017 (in thousands): 2016 2017 Deferred revenue, net of current portion $ 17,981 $ 21,033 Deferred rent and other facility costs 8,251 7,113 Deferred payments related to acquisitions 13,754 6,385 Loss on facilities not in use 7,813 5,652 Lease incentives 2,684 2,832 Other long-term liabilities $ 50,483 $ 43,015

Other Employee Benefit Plans (T

Other Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2017
Other Employee Benefit Plans [Abstract]
Schedule of shares purchased in the open market for employees	Shares purchased in the open market for employees for the years ended December 31, 2015, 2016, and 2017 were as follows: Shares Average price purchased per share 2015 5,136 $ 49.10 2016 4,988 $ 46.46 2017 4,718 $ 77.05

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies [Abstract]
Schedule of minimum rental commitments	The minimum rental commitments for the Company as of December 31, 2017 are as follows (in thousands): Minimum rental commitments 2018 $ 31,522 2019 26,851 2020 21,894 2021 16,797 2022 7,319 Thereafter 10,258 Total $ 114,641

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Income Taxes [Abstract]
Schedule of income tax provision	The income tax provision for the years ended December 31, 2015, 2016 and 2017 is summarized below (in thousands): 2015 2016 2017 Current: Federal $ 25,515 $ 26,015 $ 21,156 State 4,538 4,869 4,477 Total current 30,053 30,884 25,633 Deferred: Change in federal tax rate due to the 2017 Act — — 11,375 Federal (3,634) (7,748) (3,193) State (311) (646) (1,781) Total deferred (3,945) (8,394) 6,401 Total provision for income taxes $ 26,108 $ 22,490 $ 32,034
Schedule of tax effects of principal temporary differences that give rise to deferred tax assets	The tax effects of the principal temporary differences that give rise to the Company’s deferred tax assets are as follows as of December 31, 2016 and 2017 (in thousands): 2016 2017 Stock-based compensation $ 20,477 $ 15,024 Property and equipment (6,059) (3,326) Other facility-related costs 5,242 2,622 Deferred revenue 7,182 5,445 Tuition receivable 3,922 — Deferred leasing costs 3,064 1,789 Prepaid compensation (1,139) (373) Other (1,592) 3,271 Net deferred tax asset $ 31,097 $ 24,452
Summary of changes in unrecognized tax benefits	The following table summarizes changes in unrecognized tax benefits, excluding interest and penalties, for the respective periods (in thousands): Year Ended December 31, 2016 2017 Beginning unrecognized tax benefits $ 505 $ 176 Reductions for tax positions taken in prior years (329) (176) Ending unrecognized tax benefits $ 176 $ —
Schedule of reconciliation between statutory tax rate and effective tax rate	2015 2016 2017 Statutory federal rate 35.0 % 35.0 % 35.0 % State income taxes, net of federal benefits 4.2 4.5 4.2 Adjustment to deferred tax assets as a result of the 2017 Act — — 21.8 Transaction costs — — 5.2 Adjustments to contingent consideration — (0.3) (5.0) Other 0.3 0.1 (0.4) Effective tax rate 39.5 % 39.3 % 60.8 %

Summarized Quarterly Financia36

Summarized Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2017
Summarized Quarterly Financial Data (Unaudited) [Abstract]
Schedule of quarterly financial information	Quarterly financial information for 2016 and 2017 is as follows (in thousands except per share data): Quarter 2016 First Second Third Fourth Revenues $ 111,166 $ 108,487 $ 102,156 $ 119,279 Income from operations 20,092 12,896 4,830 19,654 Net income 12,420 7,786 2,878 11,718 Net income per share: Basic $ 1.17 $ 0.73 $ 0.27 $ 1.10 Diluted $ 1.15 $ 0.72 $ 0.27 $ 1.07 Quarter 2017 First Second Third Fourth Revenues $ 114,912 $ 112,720 $ 108,512 $ 118,707 Income from operations 18,443 13,854 8,224 11,688 Net income (loss) 10,578 10,302 6,227 (6,495) Net income (loss) per share: Basic $ 1.00 $ 0.96 $ 0.58 $ (0.61) Diluted $ 0.95 $ 0.92 $ 0.56 $ (0.61)

Nature of Operations (Details)

Nature of Operations (Details)	12 Months Ended
	Dec. 31, 2017segment
Nature of Operations [Abstract]
Number of reporting segments	1

Significant Accounting Polici38

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2017
Significant Accounting Policies [Abstract]
Percentage of tuition revenue in total revenue	96.00%
Unused books and academic material refundable period	21 days

Significant Accounting Polici39

Significant Accounting Policies - Graduation Fund (Details)	12 Months Ended
	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)
Consecutive terms of non attendance in which Graduation Fund credits will be lost | item	1
Number of free courses | item	1
Number of successfully completed courses | item	3
Expected collection period of tuition receivable	12 months
Balance at beginning of year	$ 29,499,000	$ 20,937,000
Revenue deferred	25,360,000	20,766,000
Benefit Redeemed	(17,459,000)	(12,204,000)
Balance at end of year	37,400,000	29,499,000
Current Liability [Member]
Graduation fund estimated to be redeemed	19,100,000
Other Assets [Member]
Restricted cash
Minimum protective endowment	500,000
Other Current Assets [Member]
Restricted cash
Restricted cash	$ 15,000	$ 13,000

Significant Accounting Polici40

Significant Accounting Policies - Tuition Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of tuition receivable and allowance for doubtful accounts
Tuition receivable	$ 35,809	$ 30,733
Allowance for doubtful accounts	(12,687)	(10,201)	$ (10,024)	$ (8,835)
Tuition receivable, net	23,122	20,532
Other Assets [Member]
Schedule of tuition receivable and allowance for doubtful accounts
Tuition receivable, noncurrent	$ 2,900	$ 2,300

Significant Accounting Polici41

Significant Accounting Policies - Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of allowance for doubtful accounts
Beginning allowance for doubtful accounts	$ 10,201	$ 10,024	$ 8,835
Additions charged to expense	21,751	16,503	13,067
Write-offs, net of recoveries	(19,265)	(16,326)	(11,878)
Ending allowance for doubtful accounts	$ 12,687	$ 10,201	$ 10,024

Significant Accounting Polici42

Significant Accounting Policies - Property and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Impairment loss	$ 0
Depreciation and amortization	$ 18,733,000	$ 17,817,000	$ 18,104,000
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	3 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	40 years

Significant Accounting Polici43

Significant Accounting Policies - Goodwill and Indefinite-Lived Intangible Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Indefinite-Lived Intangible Assets
Balance as of the beginning of the period		$ 20,744,000	$ 6,800,000
Acquisition (see Note 3)			14,242,000
Measurement period adjustments			(298,000)
Balance as of the end of period	$ 20,744,000	20,744,000	20,744,000
New York Code And Design Academy, Inc.
Goodwill and Indefinite-Lived Intangible Assets
Balance as of the beginning of the period		$ 13,944,000
Balance as of the end of period			$ 13,944,000
Goodwill and intangible assets impairment	0
Jack Welch Management Institute
Goodwill and Indefinite-Lived Intangible Assets
Goodwill and intangible assets impairment	$ 0
Minimum
Long-Term Liabilities
Lease term		5 years
Maximum
Long-Term Liabilities
Lease term		10 years

Significant Accounting Polici44

Significant Accounting Policies - EPS (Details) - $ / shares	1 Months Ended				12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Feb. 28, 2017
Schedule of reconciliation of shares used to calculate basic and diluted earnings per share
Weighted average shares outstanding used to compute basic earnings per share					10,678,000	10,610,000	10,588,000
Incremental shares issuable upon the assumed exercise of stock options					39,000	5,000	6,000
Unvested restricted stock					482,000	230,000	146,000
Shares used to compute diluted earnings per share					11,199,000	10,845,000	10,740,000
Common stock, shares authorized	20,000,000				20,000,000	20,000,000
Common stock, par value	$ 0.01				$ 0.01	$ 0.01
Common stock, shares issued	11,167,425				11,167,425	11,093,489
Common stock, shares outstanding	11,167,425				11,167,425	11,093,489
Preferred stock, shares authorized	8,000,000				8,000,000	8,000,000
Preferred stock, shares issued	0				0	0
Preferred stock, shares outstanding	0				0	0
Dividends declared, per share								$ 1
Dividends paid, per share	$ 0.25	$ 0.25	$ 0.25	$ 0.25
Antidilutive stock options					0	0	0

Acquisition of New York Code 45

Acquisition of New York Code and Design Academy (Details) - New York Code And Design Academy, Inc.	Jan. 13, 2016USD ($)individual	Aug. 31, 2016USD ($)	Apr. 30, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Cash paid up front	$ 2,400,000
Total potential cash payments for acquisition				$ 25,000,000
Contingent consideration payment	$ 4,600,000	$ 500,000	$ 6,000,000	$ 0
Number of founders | individual	2
Employment term	3 years
Less: contingent consideration					$ (14,500,000)
Contingent Consideration Results of Operations Over Five Year Period [Member]
Business Acquisition [Line Items]
Contingent consideration	$ 12,500,000
Term of additional contingent payments	5 years
Contingent Consideration Receipt Of State Regulatory Permit [Member]
Business Acquisition [Line Items]
Contingent consideration	$ 5,500,000
Contingent Consideration Accelerated Earnout Upon Receipt Of One State Regulatory Permit [Member]
Business Acquisition [Line Items]
Contingent consideration	1,000,000
Selling, General and Administrative Expenses [Member]
Business Acquisition [Line Items]
Transaction Costs	$ 200,000

Acquisition of New York Code 46

Acquisition of New York Code and Design Academy - Purchase Price Allocation (Details) - USD ($)	Jan. 13, 2016	Aug. 31, 2016	Apr. 30, 2016	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2017	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill				$ 20,744,000	$ 20,744,000	$ 20,744,000		$ 6,800,000
Cash paid for acquisition, net of cash acquired						7,635,000
New York Code And Design Academy, Inc.
Business Acquisition [Line Items]
Cash				790,000		790,000
Other assets				1,265,000		1,265,000
Trade name				5,660,000		5,660,000
Goodwill				13,944,000		13,944,000
Liabilities assumed				(4,734,000)		(4,734,000)
Total assets acquired and liabilities assumed, net				16,925,000		16,925,000
Less: contingent consideration				(14,500,000)		(14,500,000)
Cash paid for acquisition, net of cash acquired						$ 1,635,000
Reduction in fair value of contingent consideration				$ 1,300,000	7,800,000
Contingent consideration payment	$ 4,600,000	$ 500,000	$ 6,000,000		0
Deferred payment arrangements value					0
New York Code And Design Academy, Inc. | Maximum
Business Acquisition [Line Items]
Contingent consideration					$ 11,500,000		$ 11,500,000

Restructuring and Related Cha47

Restructuring and Related Charges (Details) - item	1 Months Ended	12 Months Ended
	Oct. 31, 2013	Dec. 31, 2017
Restructuring and Related Charges [Abstract]
Campus location closed	20
Lease marginal borrowing rate		4.50%

Restructuring and Related Cha48

Restructuring and Related Charges - Liability for lease and related costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of restructuring liability
Beginning balance	$ 11,985	$ 20,055	$ 27,283
Adjustments	419	(1,632)	526
Payments	(3,623)	(6,438)	(7,754)
Ending balance	8,781	11,985	$ 20,055
Accounts payable and accrued expenses
Schedule of restructuring liability
Restructuring liabilities	$ 3,100	$ 4,200

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 244,064	$ 230,255
Accumulated depreciation and amortization	(170,301)	(157,131)
Property and equipment, net	73,763	73,124
Leasehold improvements reimbursed by lessors as lease incentives	1,200	300
Fixed assets written off	5,300	3,200
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	7,138	7,138
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	19,304	19,238
Furniture Equipment And Computer Hardware And Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	169,613	157,104
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	42,906	39,769
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,103	$ 7,006
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	40 years
Maximum | Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	40 years
Maximum | Furniture Equipment And Computer Hardware And Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	10 years
Maximum | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	10 years
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	3 years
Minimum | Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	5 years
Minimum | Furniture Equipment And Computer Hardware And Software [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	5 years
Minimum | Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property and equipment	3 years

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Money Market Funds [Member]
Schedule of assets and liabilities measured at fair value on a recurring basis
Total assets at fair value on a recurring basis	$ 113	$ 5,103
Deferred payments [Member]
Liabilities:
Total liabilities at fair value on a recurring basis	4,514	11,741
Quoted Prices In Active Markets For Identical Assets/Liabilities (Level 1) [Member] | Money Market Funds [Member]
Schedule of assets and liabilities measured at fair value on a recurring basis
Total assets at fair value on a recurring basis	113	5,103
Significant Unobservable Inputs (Level 3) [Member] | Deferred payments [Member]
Liabilities:
Total liabilities at fair value on a recurring basis	$ 4,514	$ 11,741

Fair Value Measurement - Level

Fair Value Measurement - Level 3 Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of changes in fair value of level 3 liability
Balance at beginning of year	$ 11,741	$ 3,278
Amounts paid	(1,133)	(7,358)
Contingent consideration in connection with NYCDA acquisition		14,500
Other adjustments to fair value	(6,094)	1,321
Balance at end of year	4,514	$ 11,741
Accounts payable and accrued expenses
Fair Value, Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation [Line Items]
Short-term portion of deferred payments	$ 1,300

Long Term Debt (Details)

Long Term Debt (Details)	Jul. 02, 2015USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015
Debt Instrument [Line Items]
Revolving credit facility, value	$ 150,000,000
Maximum aggregate incremental term loans	50,000,000
Payments of debt financing costs	$ 900,000
Cash interest paid		$ 400,000	$ 300,000
Maximum total leverage ratio		2
Minimum coverage ratio		1.75
Minimum department of education financial composite score		1.5
Average annual interest rate				4.30%
Revolving credit facility, outstanding		$ 0
Revolving Credit Facility [Member] | Minimum
Debt Instrument [Line Items]
Margin rate for interest if using base rate		1.75%
Unused commitment fee		0.25%
Revolving Credit Facility [Member] | Maximum
Debt Instrument [Line Items]
Margin rate for interest if using base rate		2.25%
Unused commitment fee		0.35%

Stock Options, Restricted Sto53

Stock Options, Restricted Stock and Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended		12 Months Ended
	May 31, 2017	Feb. 28, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized for grants			500,000
Maximum term of the awards granted under the Plan			10 years
Stock-based compensation cost which has not yet been recognized			$ 17.9
Stock-based compensation cost recognized period, in months			21 months
Restricted stock awarded subject to performance condition			561,000
Restricted stock and restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants, Number of shares or units	7,541	67,599	75,140	188,737	126,655
Vesting period	3 years	4 years
Share Price	$ 86.83	$ 81.66

Stock Options, Restricted Sto54

Stock Options, Restricted Stock and Restricted Stock Units - RSU (Details) - Restricted stock and restricted stock units [Member] - $ / shares	1 Months Ended		12 Months Ended
	May 31, 2017	Feb. 28, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of restricted stock and restricted stock units activity
Beginning Balance, Number of shares or units			727,100	634,327	524,216
Grants, Number of shares or units	7,541	67,599	75,140	188,737	126,655
Vested shares, Number of shares or units			(84,908)	(23,539)	(13,725)
Forfeitures, Number of shares or units			(1,204)	(72,425)	(2,819)
Ending Balance, Number of shares or units			716,128	727,100	634,327
Beginning Balance, Weighted-average grant price			$ 97.53	$ 104.66	$ 115.67
Grants, Weighted-average grant price			82.18	50.63	61
Vested shares, Weighted-average grant price			66.60	50.43	52.94
Forfeitures, Weighted-average grant price			62.28	62.41	115.55
Ending Balance, Weighted-average grant price			$ 99.65	$ 97.53	$ 104.66

Stock Options, Restricted Sto55

Stock Options, Restricted Stock and Restricted Stock Units - Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of stock option activity and other stock option information
Exercisable, Number of shares	100,000	100,000	100,000
Exercisable, Weighted-average exercise price	$ 51.95	$ 51.95	$ 51.95
Stock options [Member]
Schedule of stock option activity and other stock option information
Beginning Balance, Number of shares	100,000	100,000	100,000
Grants, Number of shares
Exercises, Number of shares
Forfeitures/Expirations, Number of shares
Ending Balance, Number of shares	100,000	100,000	100,000	100,000
Exercisable, Number of shares	100,000
Beginning Balance, Weighted-average exercise price	$ 51.95	$ 51.95	$ 51.95
Grants, Weighted-average exercise price
Exercises, Weighted-average exercise price
Forfeitures/Expirations, Weighted-average exercise price
Ending Balance, Weighted-average exercise price	51.95	$ 51.95	$ 51.95	$ 51.95
Exercisable, Weighted-average exercise price	$ 51.95
Weighted-average remaining contractual life (years)	3 years 1 month 6 days	4 years 1 month 6 days	5 years 1 month 6 days	6 years
Exercisable, Weighted-average remaining contractual life (years)	3 years 1 month 6 days
Beginning Balance, Aggregate intrinsic value	$ 2,868	$ 817	$ 2,233
Ending Balance, Aggregate intrinsic value	3,763	$ 2,868	$ 817	$ 2,233
Exercisable, Aggregate intrinsic value	$ 3,763

Stock Options, Restricted Sto56

Stock Options, Restricted Stock and Restricted Stock Units - Stock-based compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of stock-based compensation expense
Stock-based compensation expense included in operating expense	$ 11,627	$ 10,767	$ 10,213
Tax benefit	4,593	4,256	4,032
Stock-based compensation expense, net of income tax	7,034	6,511	6,181
Instruction and educational support [Member]
Schedule of stock-based compensation expense
Stock-based compensation expense included in operating expense	1,943	1,432	2,134
General and administration [Member]
Schedule of stock-based compensation expense
Stock-based compensation expense included in operating expense	$ 9,684	$ 9,335	$ 8,079

Stock Options, Restricted Sto57

Stock Options, Restricted Stock and Restricted Stock Units - Tax shortfall (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of information regarding share-based payment arrangements
Tax shortfall associated with stock-based compensation arrangements		$ (51)	$ (24)
Tax (shortfall) windfall related to share-based payment arrangements	$ 562

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other Long-Term Liabilities [Abstract]
Deferred revenue, net of current portion	$ 21,033	$ 17,981
Deferred rent and other facility costs	7,113	8,251
Deferred payments related to acquisitions	6,385	13,754
Loss on facilities not in use	5,652	7,813
Lease incentives	2,832	2,684
Total other long-term liabilities	$ 43,015	$ 50,483

Other Long-Term Liabilities - D

Other Long-Term Liabilities - Deferred (Details)	Jan. 13, 2016USD ($)	Aug. 31, 2016USD ($)	Apr. 30, 2016USD ($)	Dec. 31, 2017USD ($)item	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Minimum
Leasehold improvements and long-term liability amortization period				5 years
Maximum
Leasehold improvements and long-term liability amortization period				10 years
New York Code And Design Academy, Inc.
Deferred payment arrangements value				$ 0
Total potential cash payments for acquisition				25,000,000
Contingent consideration payment	$ 4,600,000	$ 500,000	$ 6,000,000	0
New York Code And Design Academy, Inc. | Maximum
Contingent consideration				11,500,000	$ 11,500,000
Jack Welch Management Institute
Funds received from investor				$ 2,800,000
Deferred payment arrangement number of sellers | item				1
Deferred payment arrangements value				$ 3,600,000		$ 3,400,000

Other Employee Benefit Plans (D

Other Employee Benefit Plans (Details) - USD ($)	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Percentage of company matching contribution to 401(K) plan		50.00%
Defined contribution plan employer matching contribution percent		3.00%
Company's contributions to 401(K) plan		$ 1,300,000	$ 1,100,000	$ 1,100,000
Common stock shares purchase price limit for employees as percentage of market value under Employee Stock Purchase Plan		90.00%
Employee stock purchase plan maximum percentage of purchase employee can make on eligible compensation		10.00%
Maximum number of shares available for purchase by participating employees		2,500,000
Forecast
Maximum annual contribution to 401(k) plan by employees, effective January 1, 2017	$ 18,500

Other Employee Benefit Plans -

Other Employee Benefit Plans - Shares purchased (Details) - ESPP [Member] - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares purchased	4,718	4,988	5,136
Average price per share	$ 77.05	$ 46.46	$ 49.10

Stock Repurchase Plan (Details)

Stock Repurchase Plan (Details) - Stock Repurchase Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2003
Equity, Class of Treasury Stock [Line Items]
Authorized common stock for repurchases, amount				$ 15
Remaining authorized share for repurchases, amount	$ 70
Number of shares repurchased	0	0	0

Commitments and Contingencies63

Commitments and Contingencies (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)lease	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Commitments and Contingencies [Abstract]
Number of long-term, non-cancelable operating leases | lease	81
Rent expense	$ 33.6	$ 33.7	$ 37.5
Rent expense (benefit) related to facilities no longer in use	$ 0.3	$ (1.9)

Commitments and Contingencies -

Commitments and Contingencies - Minimum rental commitments (Details) $ in Thousands	Dec. 31, 2017USD ($)
Schedule of minimum rental commitments
2,018	$ 31,522
2,019	26,851
2,020	21,894
2,021	16,797
2,022	7,319
Thereafter	10,258
Total	$ 114,641

Income Taxes - Income tax provi

Income Taxes - Income tax provision (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current:
Federal		$ 21,156	$ 26,015	$ 25,515
State		4,477	4,869	4,538
Total current		25,633	30,884	30,053
Deferred:
Charge in federal tax rate due to the 2017 Act		11,375
Federal		(3,193)	(7,748)	(3,634)
State		(1,781)	(646)	(311)
Total deferred		6,401	(8,394)	(3,945)
Total provision for income taxes		$ 32,034	$ 22,490	$ 26,108
Statutory federal rate		35.00%	35.00%	35.00%
Forecast
Deferred:
Statutory federal rate	21.00%

Income Taxes - Deferred tax ass

Income Taxes - Deferred tax assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule of tax effects of principal temporary differences that give rise to deferred tax assets
Stock-based compensation	$ 15,024	$ 20,477
Property and equipment	(3,326)	(6,059)
Other facility-related costs	2,622	5,242
Deferred revenue	5,445	7,182
Tuition receivable		3,922
Deferred leasing costs	1,789	3,064
Prepaid compensation	(373)	(1,139)
Other	3,271	(1,592)
Net deferred tax asset	$ 24,452	$ 31,097

Income Taxes - Unrecognized tax

Income Taxes - Unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Abstract]
Tax expense (benefits) related to interest and penalties	$ 200	$ 100
Amount of interest and penalties		100
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Beginning unrecognized tax benefits	176	505
Reductions for tax positions taken in prior years	$ (176)	(329)
Ending unrecognized tax benefits		$ 176

Income Taxes - Statutory rate (

Income Taxes - Statutory rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of reconciliation between statutory tax rate and effective tax rate
Statutory federal rate	35.00%	35.00%	35.00%
State income taxes, net of federal benefits	4.20%	4.50%	4.20%
Change in rate due to the 2017 Act	21.80%
Transaction costs	5.20%
Adjustments to contingent consideration	(5.00%)	(0.30%)
Other	(0.40%)	0.10%	0.30%
Effective tax rate	60.80%	39.30%	39.50%
Cash payments for income taxes	$ 26.2	$ 31.6	$ 28.5

Summarized Quarterly Financia69

Summarized Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]
Revenues	$ 118,707	$ 108,512	$ 112,720	$ 114,912	$ 119,279	$ 102,156	$ 108,487	$ 111,166	$ 454,851	$ 441,088	$ 434,437
Income from operations	11,688	8,224	13,854	18,443	19,654	4,830	12,896	20,092	52,209	57,472	69,698
Net income	$ (6,495)	$ 6,227	$ 10,302	$ 10,578	$ 11,718	$ 2,878	$ 7,786	$ 12,420	$ 20,612	$ 34,802	$ 40,023
Net income per share:
Basic	$ (0.61)	$ 0.58	$ 0.96	$ 1	$ 1.10	$ 0.27	$ 0.73	$ 1.17	$ 1.93	$ 3.28	$ 3.78
Diluted	$ (0.61)	$ 0.56	$ 0.92	$ 0.95	$ 1.07	$ 0.27	$ 0.72	$ 1.15	$ 1.84	$ 3.21	$ 3.73

Regulation (Details)

Regulation (Details)	Jan. 08, 2017item	Oct. 21, 2014item	Sep. 26, 2014item	Sep. 11, 2014item	Aug. 20, 2014item	Dec. 31, 2017stateitem	Dec. 31, 2014item	Apr. 29, 2015USD ($)
Minimum
Regulation [Line Items]
Average of median annual earning percentage						8.00%
Average of median discretionary percentage						20.00%
Maximum
Regulation [Line Items]
Average of median annual earning percentage						12.00%
Average of median discretionary percentage						30.00%
Strayer University
Regulation [Line Items]
Number of debt-to-earnings measures						2
Failed programs	0
Number of ineligible years						3 years
Number of current associate degree programs in the Zone						2
Number of consecutive years program has to fail both metrics to become ineligible						2 years
Number of consecutive years program has to fail one metric to become ineligible						4 years
Number of metric that can't failed for consecutive years						1
Number of conducted compliance reviews						4
Number of reviews in which no further action was required		1
Number of on-site reviews conducted			2	1	1
Number of states in which compliance reviews were conducted | state						3
Number of reviews also covered compliance with additional agencies							2
Strayer University | Maximum
Regulation [Line Items]
Amount due to department of education | $								$ 500

Merger with Capella Education71

Merger with Capella Education Company (Details)	1 Months Ended
	Oct. 31, 2017	Mar. 31, 2018shares	Dec. 31, 2017shares	Dec. 31, 2016shares
Common stock, shares authorized			20,000,000	20,000,000
Merger Agreement
Conversion ratio	0.875
Voting equity interests (as a percentage)	52.00%
Forecast | Merger Agreement
Common stock, shares authorized		32,000,000
Capella | Merger Agreement
Voting equity interests (as a percentage)	48.00%