Perdoceo Education (PRDO) 10-K 24 Feb 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 18, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Trading Symbol	PRDO
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NASDAQ
Entity Registrant Name	PERDOCEO EDUCATION CORP
Entity Central Index Key	0001046568
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		68,748,662
Entity Public Float			$ 720,000,000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	0-23245
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3932190
Entity Address, Address Line One	231 N. Martingale Road
Entity Address, City or Town	Schaumburg
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60173
City Area Code	847
Local Phone Number	781-3600
ICFR Auditor Attestation Flag	true
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Chicago, Illinois
Documents Incorporated by Reference	Portions of the Registrant’s Notice of Annual Meeting and Proxy Statement for the Registrant’s 2022 Annual Meeting of Stockholders are incorporated by reference into Part III of this Report.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents, unrestricted		$ 319,982	$ 105,684
Restricted cash		5,196	4,000
Total cash, cash equivalents and restricted cash		325,178	109,684
Short-term investments		174,213	300,676
Total cash and cash equivalents, restricted cash and short-term investments		499,391	410,360
Student receivables, gross		79,418	84,599
Allowance for credit losses		(36,385)	(39,917)
Student receivables, net		43,033	44,682
Receivables, other		1,692	2,873
Prepaid expenses		6,919	8,209
Inventories		904	596
Other current assets		2,514	341
Total current assets		554,453	467,061
NON-CURRENT ASSETS:
Property and equipment, net of accumulated depreciation of $113,711 and $101,380 as of December 31, 2021 and 2020, respectively	[1]	28,355	27,761
Right of use asset, net		36,664	44,773
Goodwill		162,579	118,312
Intangible assets, net of amortization of $8,662 and $4,178 as of December 31, 2021 and 2020, respectively		32,208	15,522
Student receivables, gross		4,242	3,533
Allowance for credit losses		(2,870)	(2,230)
Student receivables, net		1,372	1,303
Deferred income tax assets, net		25,114	40,351
Other assets		6,688	6,434
TOTAL ASSETS	[2]	847,433	721,517
CURRENT LIABILITIES:
Lease liability-operating		9,400	9,789
Accounts payable		10,838	13,259
Accrued expenses:
Payroll and related benefits		25,312	22,661
Advertising and marketing costs		8,690	10,249
Income taxes		211	1,402
Other		15,180	11,921
Deferred revenue		70,613	34,534
Total current liabilities		140,244	103,815
NON-CURRENT LIABILITIES:
Lease liability-operating		35,549	43,405
Other liabilities		21,530	18,390
Total non-current liabilities		57,079	61,795
STOCKHOLDERS' EQUITY:
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding
Common stock, $0.01 par value; 300,000,000 shares authorized; 88,724,438 and 87,264,910 shares issued, 68,748,662 and 70,062,364 shares outstanding as of December 31, 2021 and 2020, respectively		887	873
Additional paid-in capital		674,242	658,423
Accumulated other comprehensive (loss) income		(96)	364
Retained earnings		251,972	142,335
Treasury stock, at cost, 19,975,776 and 17,202,546 shares as of December 31, 2021 and 2020, respectively		(276,895)	(246,088)
Total stockholders' equity		650,110	555,907
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY		$ 847,433	$ 721,517
[1]	Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2021 and 2020; therefore, both the cost of the asset and the related accumulated depreciation balances were reduced to zero for these assets.
[2]	Total assets are presented on a consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Property and equipment, accumulated depreciation	[1]	$ 113,711	$ 101,380
Intangible assets, amortization		$ 8,662	$ 4,178
Preferred stock, par value		$ 0.01	$ 0.01
Preferred stock, shares authorized		1,000,000	1,000,000
Preferred stock, shares issued		0	0
Preferred stock, shares outstanding		0	0
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		300,000,000	300,000,000
Common stock, shares issued		88,724,438	87,264,910
Common stock, shares outstanding		68,748,662	70,062,364
Treasury stock, shares		19,975,776	17,202,546
[1]	Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2021 and 2020; therefore, both the cost of the asset and the related accumulated depreciation balances were reduced to zero for these assets.

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
REVENUE:
Total revenue		$ 693,034	$ 687,314	$ 627,704
OPERATING EXPENSES:
Educational services and facilities		108,743	111,768	101,944
General and administrative		418,509	417,214	430,153
Depreciation and amortization		16,766	14,786	9,145
Asset impairment			612
Total operating expenses		544,018	544,380	541,242
Operating income		149,016	142,934	86,462
OTHER INCOME:
Interest income		930	3,852	6,392
Interest expense		(920)	(167)	(167)
Miscellaneous income		58	211	335
Total other income		68	3,896	6,560
PRETAX INCOME		149,084	146,830	93,022
Provision for income taxes		39,430	22,476	22,428
INCOME FROM CONTINUING OPERATIONS		109,654	124,354	70,594
LOSS FROM DISCONTINUED OPERATIONS, net of tax		(17)	(90)	(612)
NET INCOME		$ 109,637	$ 124,264	$ 69,982
NET INCOME PER SHARE - BASIC:
Income from continuing operations		$ 1.57	$ 1.79	$ 1.01
Loss from discontinued operations				(0.01)
Net income per share		1.57	1.79	1
NET INCOME PER SHARE - DILUTED:
Income from continuing operations		1.55	1.74	0.98
Loss from discontinued operations				(0.01)
Net income per share		$ 1.55	$ 1.74	$ 0.97
WEIGHTED AVERAGE SHARES OUTSTANDING:
Basic		70,024	69,414	70,088
Diluted		70,881	71,265	72,085
Tuition and Fees, Net [Member]
REVENUE:
Total revenue		$ 688,415	$ 684,579	$ 625,056
Other [Member]
REVENUE:
Total revenue	[1]	$ 4,619	$ 2,735	$ 2,648
[1]	Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
NET INCOME	$ 109,637	$ 124,264	$ 69,982
OTHER COMPREHENSIVE (LOSS) INCOME, net of tax:
Foreign currency translation adjustments	(177)	199	(41)
Unrealized (loss) gain on investments	(283)	(179)	683
Total other comprehensive (loss) income	(460)	20	642
COMPREHENSIVE INCOME	$ 109,177	$ 124,284	$ 70,624

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Revision Of Prior Period Accounting Standards Update Adjustment [Member]	Common Stock [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Earnings (Deficit) [Member]	Accumulated Earnings (Deficit) [Member]Revision Of Prior Period Accounting Standards Update Adjustment [Member]
BALANCE at Dec. 31, 2018	$ 355,203	$ 1,035	$ 852	$ (220,700)	$ 628,295	$ (298)	$ (52,946)	$ 1,035
BALANCE, shares at Dec. 31, 2018			85,174,000
BALANCE, shares at Dec. 31, 2018				(15,401,000)
NET INCOME	69,982						69,982
Foreign currency translation	(41)					(41)
Unrealized gain (loss) on investments	683					683
COMPREHENSIVE INCOME	70,624
Treasury stock purchased	(3,875)			$ (3,875)
Treasury stock purchased, shares				(235,000)
Share-based compensation expense:
Stock option plans	1,690				1,690
Restricted stock award plans	7,569				7,569
Employee stock purchase plan	15				15
Restricted stock award plans	(7,569)				(7,569)
Common stock issued under:
Stock option plans	$ 1,489		$ 3		1,486
Stock option plan, shares	258,621		259,000
Restricted stock award plans	$ (2,739)		$ 5	$ (2,740)	(4)
Restricted stock award plan, shares			504,000	(166,000)
Employee stock purchase plan	284				284
Employee stock purchase plan, shares			16,000
BALANCE at Dec. 31, 2019	431,295		$ 860	$ (227,315)	639,335	344	18,071
BALANCE, shares at Dec. 31, 2019			85,953,000
BALANCE, shares at Dec. 31, 2019				(15,802,000)
NET INCOME	124,264						124,264
Foreign currency translation	199					199
Unrealized gain (loss) on investments	(179)					(179)
COMPREHENSIVE INCOME	124,284
Treasury stock purchased	(17,862)			$ (17,862)
Treasury stock purchased, shares				(1,320,000)
Share-based compensation expense:
Stock option plans	1,134				1,134
Restricted stock award plans	12,227				12,227
Employee stock purchase plan	18				18
Restricted stock award plans	(12,227)				(12,227)
Common stock issued under:
Stock option plans	$ 5,384		$ 10		5,374
Stock option plan, shares	1,040,304		1,040,000
Restricted stock award plans	$ (912)		$ 2	$ (911)	(3)
Restricted stock award plan, shares			243,000	(81,000)
Employee stock purchase plan	339		$ 1		338
Employee stock purchase plan, shares			29,000
BALANCE at Dec. 31, 2020	$ 555,907		$ 873	$ (246,088)	658,423	364	142,335
BALANCE, shares at Dec. 31, 2020	87,264,910		87,265,000
BALANCE, shares at Dec. 31, 2020	(17,202,546)			(17,203,000)
NET INCOME	$ 109,637						109,637
Foreign currency translation	(177)					(177)
Unrealized gain (loss) on investments	(283)					(283)
COMPREHENSIVE INCOME	109,177
Treasury stock purchased	(25,296)			$ (25,296)
Treasury stock purchased, shares				(2,313,000)
Share-based compensation expense:
Stock option plans	464				464
Restricted stock award plans	(14,495)				(14,495)
Employee stock purchase plan	13				13
Restricted stock award plans	14,495				14,495
Common stock issued under:
Stock option plans	$ 549		$ 1		548
Stock option plan, shares	103,407		103,000
Restricted stock award plans	$ (5,511)		$ 13	$ (5,511)	(13)
Restricted stock award plan, shares			1,329,000	(460,000)
Employee stock purchase plan	312				312
Employee stock purchase plan, shares			27,000
BALANCE at Dec. 31, 2021	$ 650,110		$ 887	$ (276,895)	$ 674,242	$ (96)	$ 251,972
BALANCE, shares at Dec. 31, 2021	88,724,438		88,724,000
BALANCE, shares at Dec. 31, 2021	(19,975,776)			(19,976,000)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 109,637	$ 124,264	$ 69,982
Adjustments to reconcile net income to net
Asset impairment		612
Depreciation and amortization expense	16,766	14,786	9,145
Bad debt expense	44,344	47,556	43,454
Compensation expense related to share-based awards	14,972	13,379	9,274
Loss on disposition of asset			14
Deferred income taxes	15,330	20,353	21,556
Changes in operating assets and liabilities:
Student receivables, gross	6,631	7,092	(33,697)
Allowance for credit losses	(47,417)	(39,546)	(36,326)
Receivables, other	5,396	(99)	1,189
Inventories, prepaid expenses, and other current assets	3,285	3,031	(1,180)
Other non-current assets	72	151	(489)
Accounts payable	(2,744)	374	2,320
Accrued expenses and other non-current liabilities	(3,404)	(11,135)	5,066
Deferred revenue	30,724	5,138	(7,704)
Right of use asset and lease liability	(2,476)	(6,000)	(9,519)
Net cash provided by operating activities	191,116	179,956	73,085
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available-for-sale investments	(269,739)	(403,673)	(449,367)
Sales of available-for-sale investments	391,659	287,249	462,325
Purchases of property and equipment	(10,453)	(9,768)	(5,174)
Business acquisitions, net of cash acquired	(57,143)	(39,819)
Other		103	(85)
Net cash provided by (used in) investing activities	54,324	(165,908)	7,699
CASH FLOWS FROM FINANCING ACTIVITIES:
Purchase of treasury stock	(25,296)	(17,862)	(3,875)
Issuance of common stock	861	5,723	1,774
Payments of employee tax associated with stock compensation	(5,511)	(912)	(2,740)
Net cash used in financing activities	(29,946)	(13,051)	(4,841)
EFFECT OF FOREIGN CURRENCY EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH:			13
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	215,494	997	75,956
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of the year	109,684	108,687	32,731
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of the year	325,178	109,684	108,687
Supplemental Cash Flow Information:
Income taxes paid	23,224	611	46
Supplemental Non-Cash Disclosures:
Amount placed in escrow to secure indemnification obligations from business acquisitions	1,210	4,000
Non-cash additions to property and equipment	2,287	52	$ 38
Right of use assets obtained in exchange for lease liabilities	$ 727	$ 552

Description of the Company

Description of the Company	12 Months Ended
	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of the Company	1. DESCRIPTION OF THE COMPANY Perdoceo’s academic institutions offer a quality postsecondary education primarily online to a diverse student population, along with campus-based and blend ed learning programs. Our accredited institutions – Colorado Technical University (“CTU”) and the American InterContinental University System (“AIUS” or “AIU System”) -- provide degree programs from associate through doctoral level as well as non-degree professional development and continuing education offerings. path ® As used in this Annual Report on Form 10-K, the terms “we,” “us,” “our,” “the Company,” “Perdoceo” and “PEC” refer to Perdoceo Education Corporation and our wholly-owned subsidiaries.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES a. Principles of Consolidation and Basis of Financial Statement Presentation These consolidated financial statements presented herein include the accounts of Perdoceo Education Corporation and our wholly-owned subsidiaries (collectively “Perdoceo”or “PEC”) Our reporting segments are determined in accordance with Financial Accounting Standards Board (“FASB”) (“ASC”) Segment Reporting On August 2, 2021, the Company acquired substantially all of the assets of DigitalCrafts. DigitalCrafts operations were brought within the AIUS segment, preserving the “DigitalCrafts” name and programs as part of AIUS’ operations. Results of operations related to the DigitalCrafts acquisition are included in the consolidated financial statements from the date of acquisition. See Note 3 “ Business Acquisitions On September 10, 2021, the Company acquired substantially all of the assets of Hippo Education (“ Hippo Results of operations related to the Hippo acquisition are included in the consolidated financial statements from the date of acquisition. See Note 3 “ Business Acquisitions ” in our consolidated financial statements for further information. b. Management’s Use of Estimates The preparation of our consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) c. Student Receivables and Allowance for Credit Losses Student receivables represent funds owed to us in exchange for the educational services provided to a student. Student receivables are reported net of an allowance for credit losses at the end of the reporting period. Student receivables which are due to be paid in less than one year are recorded as current assets within our consolidated balance sheets. Student receivables which are due to be paid more than one year from the balance sheet date are reported as non-current assets within our consolidated balance sheets. A substantial portion of credit extended to students is repaid through the students’ participation in various federal financial aid programs authorized by Title IV of the Higher Education Act of 1965, as amended (“Higher Education Act”) “ Title IV Programs .” For the years ended December 31, 20 21 , 20 20 and 20 19 , approximately 81 %, 80 % and 79 %, respectively, of our institutions’ cash receipts from tuition payments came from Title IV Program funding. Generally, a student receivable balance is written off once a student is out of school and it reaches greater than 90 days past due. Although we analyze past due receivables, it is not practical to provide an aging of our non-current student receivable balances as a result of the methodology used in determining our earned student receivable balances. Student receivables are recognized on our consolidated balance sheets as they are deemed earned over the course of a student’s program and/or term, and therefore cash collections are not applied against specifically dated transactions. We extend unsecured credit to a portion of the students who are enrolled at our academic institutions for tuition and certain other educational costs. Based upon past experience and judgment, we establish an allowance for credit losses with respect to student receivables which we estimate will ultimately not be collectible. As such, our results from operations only reflect the amount of revenue that is estimated to be reasonably collectible. Our standard student receivable allowance is based on an estimate of lifetime expected credit losses for student receivables. Our estimation methodology considers a number of quantitative and qualitative factors that, based on our collection experience, we believe have an impact on our repayment risk and ability to collect student receivables. Changes in the trends in any of these factors may impact our estimate of the allowance for credit losses. These factors include, but are not limited to: internal repayment history, changes in the current economic, legislative or regulatory environments, internal cash collection forecasts and the ability to complete the federal financial aid process with the student. These factors are monitored and assessed on a regular basis. Overall, our allowance estimation process for student receivables is validated by trending analysis and comparing estimated and actual performance. We monitor our collections and write-off experience to assess whether or not adjustments to our allowance percentage estimates are necessary. Changes in trends in any of the factors that we believe impact the collection of our student receivables, as noted above, or modifications to our collection practices, and other related policies may impact our estimate of our allowance for credit losses and our results from operations. d. Revenue Recognition Our revenue, which is derived primarily from academic programs taught to students who attend our universities, is generally segregated into two categories: (1) tuition and fees, and (2) other. Tuition and fees represent costs to our students for educational services provided by our universities and are reflected net of scholarships and tuition discounts. Our universities charge tuition and fees at varying amounts, depending on the university, the type of program and specific curriculum. Our universities bill students a single charge that covers tuition, fees and required program materials, such as textbooks and supplies, which we treat as a single performance obligation. Generally, we bill student tuition at the beginning of each academic term for our degree programs and recognize the tuition as revenue on a straight-line basis over the academic term. As part of a student’s course of instruction, certain fees, such as technology fees and graduation fees, are billed to students. These fees are earned over the applicable term and are not considered separate performance obligations. We bill student tuition upon enrollment for our non-degree professional development and continuing education offerings and recognize the tuition as revenue on a straight-line basis over the length of the course. For each term, the portion of tuition and fee payments received from students but not yet earned is recorded as deferred revenue and reported as a current liability on our consolidated balance sheets, as we expect to earn these revenues within the next year. A contract asset is recorded for each student for the current term for which they are enrolled for the amount charged for the current term that has not yet been received as payment and to which we do not have the unconditional right to receive payment because the student has not reached the point in the student’s current academic term at which the amount billed is no longer refundable to the student. On a student by student basis, the contract asset is offset against the deferred revenue balance for the current term and the net deferred revenue balance is reflected within current liabilities on our consolidated balance sheets. For AIUS’ Trident and DigitalCrafts programs and CTU’s Hippo programs, students are billed as they enroll in courses, including courses related to future periods. Any billings for future periods would meet the definition of a contract asset as we do not have the unconditional right to receive payment as the course has not yet started. Contract assets related to future periods are offset against the respective deferred revenue associated with the future period. If a student withdraws from one of our universities prior to the completion of the academic term, we refund the portion of tuition and fees already paid that, pursuant to our refund policy and applicable federal and state law and accrediting agency standards, we are not entitled to retain. Generally, the amount to be refunded to a student is calculated based upon the percent of the term attended and the amount of tuition and fees paid by the student as of their withdrawal date. Students are typically entitled to a partial refund until approximately halfway through their term. Pursuant to each university’s policy, once a student reaches the point in the term where no refund is given, the student would not have a refund due if withdrawing from the university subsequent to that date. Management reassesses collectability when a student withdraws from the university and has unpaid tuition charges for the current term which the university is entitled to retain per the applicable refund policy. Such unpaid charges generally do not meet the threshold of reasonably collectible and are recognized as revenue in accordance with ASC Topic 606 when cash is received and the contract is terminated and neither party has further performance obligations. Our institution s’ academic year is generally at least 30 weeks in length but varies both by institution and program of study and is divided by academic terms. Academic terms are determined by regulatory requirements mandated by the federal government and/or applicable accrediting body, which also vary by university and program. Academic terms are determined by start dates, which vary by university and program and are generally 8-12 weeks in length. Our non-degree professional development and continuing education offerings are generally 16-52 weeks in length. Our students finance costs through a variety of funding sources, including, among others, federal loan and grant programs, institutional payment plans, employer reimbursement, Veterans’ Administration and other military funding and grants, private and institutional scholarships and cash payments , as well as private loans for our non-degree programs . Other revenue, which consists primarily of contract training revenue, bookstore sales and miscellaneous non-student related revenue, is billed and recognized as goods are delivered or services are performed. Contract training revenue results from individual courses that are stand-alone courses and not part of a degree or certificate program. Bookstore sales are primarily initiated by the student and are not included in the enrollment agreement at the onset of a student’s entrance to the institution. Miscellaneous non-student related revenue consists of staffing services provided to third parties and software license fees. These types of sales constitute a separate performance obligation from classroom instruction. e. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash include cash and highly liquid investments with original maturities of three months or less. The fair market value of cash, cash equivalents and restricted cash approximate their carrying value. The cash in the Company’s banks is not fully insured by the Federal Deposit Insurance Corporation. The Company has not experienced any material losses in such accounts. The restricted cash balance as of December 31, 2021 was $5.2 million and relates to amounts held in escrow accounts to secure post-closing indemnification obligations of the seller pursuant to the Trident and Hippo acquisitions. Students at our institutions may receive grants, loans and work-study opportunities to fund their education under Title IV Programs. In certain instances, students may request that we retain a portion of their Title IV funds provided to them in excess of tuition billings and authorize us to apply these funds to historical balances or future charges and/or distribute them directly to the student in certain cases. As of December 31, 2021 and 2020, we held $10.4 million and $10.0 million, respectively, of these funds on behalf of students within cash and cash equivalents on our consolidated balance sheet, with the offset recorded as prepaid revenue within deferred revenue on our consolidated balance sheets. f. Investments Our investments, which primarily consist of municipal bonds, non-governmental debt securities and treasury and federal agencies securities are classified as “available-for-sale” and recorded at fair value. The Company measures the fair value of financial instruments under the guidance of ASC Topic 820, Fair Value Measurement We use the equity method to account for our investment in equity securities if our investment gives us the ability to exercise significant influence over operating and financial policies of the investee. We include our proportionate share of earnings and/or losses of our equity method investee in other income within our consolidated statements of income. The carrying value of our equity investment is reported within other non-current assets on our consolidated balance sheets. Our investment in an equity affiliate equated to a 30.7%, or $3.2 million, non-controlling interest in CCKF, a Dublin-based educational technology company providing intelligent systems to power the delivery of individualized and personalized learning. g. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are recognized using the straight-line method over the estimated useful lives of the related assets for financial reporting purposes and an accelerated method for income tax reporting purposes. Leasehold improvements are amortized on a straight-line basis over the shorter of the life of the lease or the useful life. Maintenance, repairs, minor renewals and betterments are expensed as incurred, and major improvements, which extend the useful life of the asset, are capitalized. h. Goodwill and Intangible Assets Goodwill represents the excess of cost over fair market value of identifiable net assets acquired through business purchases. In accordance with FASB ASC Topic 350 – Intangibles-Goodwill and Other (“quantitative assessment”) goodwill of the reporting unit is considered to be impaired. The amount of impairment loss is equal to the excess of the book value of the goodwill over the fair value of goodwill. In certain cases, a qualitative assessment may be used to determine if it is more likely than not that a reporting unit’s carrying value exceeds its fair value and if the quantitative assessment is needed . When performing a qualitative assessment for the annual review of goodwill balances for impairment, management must first consider events and circumstances that may affect the fair value of the reporting unit to determine whether it is necessary to perform the quantitative impairment test. Management focuses on the significant inputs and any events or circumstances that could affect the significant inputs, including, but not limited to, financial performance compared with actual and projected results of relevant prior periods, legal, regulatory, contractual, competitive, economic, political, business or other factors, and industry and market considerations, such as a deteriorating operating environment or increased competition. Management evaluates all events and circumstances, including positive or mitigating factors, that could affect the significant inputs used to determine fair value. If management determines that it is not more likely than not that the goodwill of the reporting unit is impaired based upon its qualitative assessment then it does not need to perform the quantitative assessment. When performing a quantitative assessment for the annual review of goodwill balances for impairment, we estimate the fair value of each of our reporting units based on projected future operating results and cash flows, market assumptions and/or comparative market multiple methods. Determining fair value requires significant estimates and assumptions based on an evaluation of a number of factors, such as marketplace participants, relative market share, new student interest, student retention, future expansion or contraction expectations, amount and timing of future cash flows and the discount rate applied to the cash flows. Projected future operating results and cash flows used for valuation purposes do reflect improvements relative to recent historical periods with respect to, among other things, modest revenue growth and operating margins. Although we believe our projected future operating results and cash flows and related estimates regarding fair values are based on reasonable assumptions, historically projected operating results and cash flows have not always been achieved. The failure of one of our reporting units to achieve projected operating results and cash flows in the near term or long term may reduce the estimated fair value of the reporting unit below its carrying value and result in the recognition of a goodwill impairment charge. Significant management judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate future cash flows. Assumptions used in our impairment evaluations, such as forecasted growth rates and our cost of capital, are based on the best available market information and are consistent with our internal forecasts and operating plans. In addition to cash flow estimates, our valuations are sensitive to the rate used to discount cash flows and future growth assumptions. Intangible assets include indefinite-lived assets. Indefinite-lived assets include our CTU trade name and accreditation rights, which are recorded at fair market value upon acquisition and subsequently reviewed on an annual basis for impairment. Accreditation rights represent the ability of our institutions to participate in Title IV Programs. Definite-lived intangible assets consist of the Trident, DigitalCrafts and Hippo trade names, customer relationships, course curriculum and developed technology. Customer relationships represent the value of acquired student and third party contracts and are amortized on a straight-line basis over the estimated future benefit period for those contracts. Course curriculum represents the value of acquired curriculum, including lesson plans and syllabi, used to deliver educational services. Acquired course curriculum balances are amortized on a straight-line basis over their useful lives, which are estimated by management based upon, among other things, the expected future utilization period and the nature of the related academic programs. Developed technology represents online auditory and video course program materials related to our non-degree professional development and continuing education offerings and are amortized on a straight-line basis over the expected period of future benefit. See Note 10 “Goodwill and Other Intangible Assets” for further discussion. i. Contingencies During the ordinary course of business, the Company may be subject to various claims and contingencies. In accordance with FASB ASC Topic 450 – Contingencies j. Income Taxes We are subject to the income tax laws of the U.S. and various state and local jurisdictions. These tax laws are complex and subject to interpretation. As a result, significant judgments and interpretations are required in determining our income tax provisions (benefits) and evaluating our uncertain tax positions. We account for income taxes in accordance with FASB ASC Topic 740 – Income Taxes . Topic 740 requires the recognition of deferred income tax assets and liabilities based upon the income tax consequences of temporary differences between financial reporting and income tax reporting by applying enacted statutory income tax rates applicable to future years to differences between the financial statement carrying amounts and the income tax basis of existing assets and liabilities. Topic 740 also requires that deferred income tax assets be reduced by a valuation allowance if it is more likely than not that some portion of the deferred income tax asset will not be realized. In assessing the need for a valuation allowance and/or release of a valuation allowance, we consider both positive and negative evidence related to the likelihood of realization of the deferred tax assets. Topic 740 provides that important factors in determining whether a deferred tax asset will be realized are whether there has been sufficient taxable income in recent years and whether sufficient taxable income is expected in future years in order to use the deferred tax asset. In evaluating the realizability of deferred income tax assets, we consider, among other things, historical levels of taxable income along with possible sources of future taxable income, which include: the expected timing of the reversals of existing temporary reporting differences, the existence of taxable income in prior carryback year(s), the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits, expected future taxable income and earnings history exclusive of the loss that created the future deductible amount, coupled with evidence indicating the loss is not a continuing condition. Changes in, among other things, income tax legislation, statutory income tax rates, or future taxable income levels could materially impact our valuation of income tax assets and liabilities and could cause our income tax provision to vary significantly among financial reporting periods. If, based on the weight of available evidence, it is more likely than not the deferred tax assets will not be realized, we record a valuation allowance, or release all or a portion of the valuation allowance if it is more likely than not the deferred tax assets are expected to be realized. The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. A high degree of judgment is required to determine if, and the extent to which, valuation allowances should be recorded against deferred tax assets. Topic 740 further clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in an income tax return. Topic 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. k. Leases FASB ASC Topic 842 – Leases (“ROU”) A lease component is defined as an asset within the lease contract that a lessee can benefit from the use of and is not highly dependent or interrelated with other assets in the arrangement. A lease contract may contain multiple lease components. A non-lease component is defined as a component of the lease that transfers a good or service for the underlying asset, such as maintenance services. We have determined that all of our leases contain one lease component related to the building and land. We have determined that treating the land together with the building as one lease component would not result in a significant difference from accounting for them as separate lease components. Additionally, we have elected the practical expedient to include both the lease component and the non-lease component as a single component when accounting for each lease and calculating the resulting lease liability and ROU asset. Any remaining contract consideration, such as property taxes and insurance, that does not meet the definition of a lease component or non-lease component would be allocated to the single lease component based on our election. The lease liability represents future lease payments for lease and non-lease components discounted for present value. Lease payments that may be included in the lease liability include fixed payments, variable lease payments that are based on an index or rate and payments for penalties for terminating the lease if the lessee is reasonably certain to use a termination option, among others. Certain of our leases contain rent escalation clauses that are specifically stated in the lease and these are included in the calculation of the lease liability. Variable lease payments for lease and non-lease components which are not based on an index or rate are excluded from the calculation of the lease liability and are recognized in the statement of income during the period incurred. The ROU asset consists of the amount of the initial measurement of the lease liability and adjusted for any lease incentives, including rent abatements and tenant improvement allowances, and any initial direct costs incurred by the lessee. The ROU asset is amortized over the remaining lease term on a straight-line basis and recorded within educational services and facilities on our consolidated statements of income. The lease term is determined by taking into account the initial period as stated in the lease contract and adjusted for any renewal options that the company is reasonably certain to exercise as well as any period of time that the lessee has control of the space before the stated initial term of the lease. If we determine that we are reasonably certain to exercise a termination option, the lease term is then adjusted to account for the expected termination date. We use discount rates to determine the net present value of our gross lease obligations when calculating the lease liability and related ROU asset. In cases in which the rate implicit in the lease is readily determinable, we use that discount rate for purposes of the net present value calculation. In most cases, our lease agreements do not have a discount rate that is readily determinable and therefore we use an estimate of our incremental borrowing rate. Our incremental borrowing rate is determined at lease commencement or lease modification and represents the rate of interest we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. See Note 9 “Leases” for further details. l. Share-Based Compensation FASB ASC Topic 718 – Compensation-Stock Compensation Our share-based awards are measured at fair value and recognized over the requisite service or performance period. The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option pricing model, based on the market price of the underlying common stock, expected life, expected stock price volatility and expected risk-free interest rate. Expected volatility is computed using a combination of historical volatility for a period equal to the expected term; the risk-free interest rates are based on the U.S. Treasury yield curve, with a remaining term approximately equal to the expected term used in the option pricing model. The fair value of each restricted stock unit award is estimated based on the market price of the underlying common stock on the date of the grant. The fair value of each market-based performance grant is estimated using the Monte Carlo Simulation methodology to assess the grant date fair value. We estimate forfeitures at the time of grant and revise our estimate in subsequent periods if actual forfeitures differ from those estimates. For our performance-based awards, the performance criteria is assessed each reporting period to determine the probability of attainment. See Note 14 “Share-Based Compensation” for further discussion of our share-based compensation plans, the nature of share-based awards issued under the plans and our accounting for share-based awards. m. Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred. Advertising and marketing costs, which are included in general and administrative expense on our consolidated statements of income, were $137.2 million, $143.3 million and $130.9 million, for the years ended December 31, 2021, 2020 and 2019, respectively.

Business Acquisition

Business Acquisition	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Business Acquisition	3. BUSINESS ACQUISITIONS During the year ended December 31, 2021, the Company completed the DigitalCrafts and Hippo acquisitions on August 2, 2021 and September 10, 2021, respectively. During the year ended December 31, 2020, the Company acquired substantially all of the assets of Trident University International (“ Trident University DigitalCrafts, launched in 2015, helps provide individuals an opportunity in the technology area through reskilling and upskilling courses within the areas of web development, web design and cybersecurity. DigitalCrafts’ programs are now offered by AIUS under the ‘DigitalCrafts’ name. On the date of acquisition, the Company made a cash payment of $16.3 million for the DigitalCrafts assets and a subsequent working capital payment of $0.2 million. The initial and working capital payments were fully funded with the Company’s available cash balances. Pursuant to the acquisition agreement, a post-closing contingent consideration payment of up to $2.5 million is expected to be paid in early 2024 based upon the achievement of certain financial metrics. The purchase price of $18.4 million for the DigitalCrafts assets consists of the initial purchase price of $16.3 million, the working capital payment of $0.2 million and the fair value calculation of contingent consideration of $1.9 million. The purchase price was allocated to the fair values of acquired tangible and identifiable intangible assets of $20.0 million and assumed liabilities of $1.7 million as of August 2, 2021. The fair value of student receivables is equal to the gross contractual amount of student receivables. Intangible assets acquired include a trade name with a fair value of approximately $0.7 million with an estimated useful life of 5 years and customer relationships and developed technology with an aggregate fair value of $1.0 million with estimated useful lives of 3 years Hippo, founded in 2011, is a provider of continuing medical education and exam preparation for medical professionals with a quality technology platform and strong course content. Hippo programs are now offered by CTU under the ‘Hippo Education’ name. On the date of acquisition, the Company made an initial cash payment of $42.0 million. Pursuant to the terms of the acquisition agreement, $1.2 million of this payment was set aside in an escrow account to secure indemnification obligations of the seller after closing and is reflected as restricted cash on our consolidated balance sheets. The initial payment was fully funded with the Company’s available cash balances. Additionally, pursuant to the purchase agreement, a post-closing contingent consideration payment of up to $4.0 million is expected to be paid in early 2024 based upon the achievement of certain financial metrics. The purchase price of $43.3 million for Hippo represents the initial purchase price of $42.0 million as well as the fair value calculation of contingent consideration of $1.3 million. The purchase price was allocated to the fair values of acquired tangible and identifiable intangible assets of $47.5 million and assumed liabilities of $4.3 million as of September 10, 2021. The fair value of student receivables is equal to the gross contractual amount of student receivables. Intangible assets acquired include a trade name with a fair value of approximately $3.3 million with an estimated useful life of 10 years, customer relationships with a fair value of approximately $14.1 million with an estimated useful life of 7 years and developed technology with a fair value of $2.0 million with an estimated useful life of 4 years. Based on our purchase price allocation, we recorded goodwill of $27.8 million. Goodwill reflects the revenue growth opportunities following the acquisition. We expect substantially all of this goodwill balance to be deductible for income tax reporting purposes. Trident University, a regionally accredited university, offers online undergraduate, master’s and doctoral programs with a strong focus on graduate programs. Trident University’s operations were brought within the scope of the state licensure, accreditation and Department of Education (“ Department During 2020, the Company made a total cash payment of $43.8 million for the acquisition of Trident University assets. Pursuant to the purchase agreement, $4.0 million of this payment was set aside in an escrow account to secure indemnification obligations of the seller after closing and is reflected as restricted cash on our consolidated balance sheets. The purchase price of $43.8 million was allocated to the fair values of acquired tangible and identifiable intangible assets of $53.1 million and assumed liabilities of $9.3 million as of March 2, 2020. Intangible assets acquired include a trade name with a fair value of $1.0 million with an estimated useful life of 5 years and customer relationships and course curriculum with an aggregate fair value of $9.4 million with estimated useful lives of 3 years each. Based on the final purchase price allocation, we recorded goodwill of $31.0 million. We expect substantially all of this goodwill balance to be deductible for income tax reporting purposes. The following table summarizes the fair values of assets acquired and liabilities assumed as of respective acquisition dates (dollars in thousands): Trident University DigitalCrafts Hippo March 2, 2020 August 2, 2021 September 10, 2021 Assets: Cash $ - $ - $ 93 Student receivables 6,212 1,777 202 Other current assets 912 4 25 Property and equipment 3,932 - 27 Intangible assets subject to amortization Trade name 1,000 740 3,340 Customer relationships 8,000 200 14,100 Course curriculum 1,400 - - Developed technology - 830 1,960 Goodwill 30,956 16,477 27,790 Deferred tax asset 454 - - Other non-current assets 270 - - Total assets acquired $ 53,136 $ 20,028 $ 47,537 Liabilities: Accounts payable and other accrued liabilities $ 2,622 $ 268 $ 315 Deferred revenue 4,749 1,404 3,952 Loan discharge reserve 1,900 - - Other long-term liabilities 46 - - Total liabilities assumed $ 9,317 $ 1,672 $ 4,267 Net assets acquired $ 43,819 $ 18,356 $ 43,270 Pro forma financial information relating to the Trident, DigitalCrafts and Hippo acquisitions is not presented because the acquisitions are not material to the Company.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Dec. 31, 2021
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	4. RECENT ACCOUNTING PRONOUNCEMENTS Recent accounting guidance adopted in 2021 In October 2021, the FASB issued Accounting Standards Update (“ ASU Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes .

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Financial Instruments	5. FINANCIAL INSTRUMENTS Investments consist of the following as of December 31, 2021 and 2020 (dollars in thousands): December 31, 2021 Gross Unrealized Cost Gain (Loss) Fair Value Short-term investments (available for sale): Municipal bonds $ 5,028 $ - $ (1 ) $ 5,027 Non-governmental debt securities 168,623 27 (184 ) 168,466 Treasury and federal agencies 720 - - 720 Total short-term investments (available for sale) $ 174,371 $ 27 $ (185 ) $ 174,213 December 31, 2020 Gross Unrealized Cost Gain (Loss) Fair Value Short-term investments (available for sale): Municipal bonds $ 139 $ 1 $ - $ 140 Non-governmental debt securities 288,578 331 (176 ) 288,733 Treasury and federal agencies 11,799 6 (2 ) 11,803 Total short-term investments (available for sale) $ 300,516 $ 338 $ (178 ) $ 300,676 In the table above, unrealized holding gains (losses) relate to short-term investments that have been in a continuous unrealized gain (loss) position for less than one year. Our non-governmental debt securities primarily consist of corporate bonds, certificates of deposit and commercial paper. Our treasury and federal agencies primarily consist of U.S. Treasury bills and federal home loan debt securities. We do not intend to sell our investments in these securities prior to maturity and it is not likely that we will be required to sell these investments before recovery of the amortized cost basis. A schedule of available-for-sale investments segregated by their original stated terms to maturity as of December 31, 2021 and 2020 are as follows (dollars in thousands): Less than one year One to five years Six to ten years Greater than ten years Total Original stated term to maturity of available-for-sale- investments as of December 31, 2021 $ 133,728 $ 40,485 $ - $ - $ 174,213 Original stated term to maturity of available-for-sale- investments as of December 31, 2020 $ 182,959 $ 117,641 $ - $ 76 $ 300,676 Realized gains or losses resulting from sales of investments during the years ended December 31, 2021, 2020 and 2019 were not significant. Fair Value Measurements FASB ASC Topic 820 – Fair Value Measurements As of December 31, 2021 and 2020, we held investments that are required to be measured at fair value on a recurring basis. These investments (available for sale) consist of municipal bonds, non-governmental debt securities and treasury and federal agencies securities. Available for sale securities included in Level 2 are estimated based on observable inputs other than quoted prices in active markets for identical assets and liabilities, such as quoted prices for identical or similar assets or liabilities in inactive markets or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. All of our available for sale investments were measured under Level 2 as of December 31, 2021 and December 31, 2020. Additionally, money market funds of $225.3 million and $1.7 million included within cash and cash equivalents on our consolidated balance sheets as of December 31, 2021 and 2020, respectively, were measured under Level 1 and certificates of deposit, commercial paper and treasury bills of $5.1 million included within cash and cash equivalents on our consolidated balance sheets as of December 31, 2020 were measured under Level 2. Equity Method Investment Our investment in an equity affiliate, which is recorded within other noncurrent assets on our consolidated balance sheets, represents an international investment in a private company. As of December 31, 2021, our investment in an equity affiliate equated to a 30.7%, or $3.2 million, non-controlling interest in CCKF, a Dublin-based educational technology company providing intelligent systems to power the delivery of individualized and personalized learning. We recorded a gain of approximately $0.2 million each for the years ended December 31, 2021 and 2020, respectively, and recorded a gain of approximately $0.1 million for the year ended December 31, 2019, related to our proportionate investment in CCKF within miscellaneous income on our consolidated statements of income. We make periodic operating maintenance payments to CCKF related to proprietary rights that we use in our intelli path ® For the year ended December 31, 2021 $ 1,726 For the year ended December 31, 2020 $ 1,596 For the year ended December 31, 2019 $ 1,418

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue Recognition	6. REVENUE RECOGNITION Disaggregation of Revenue The following tables disaggregate our revenue by major source for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands): For the Year Ended December 31, 2021 CTU (4) AIUS (5) Corporate and Other (6) Total Tuition, net (1) $ 384,307 $ 269,645 $ - $ 653,952 Technology fees 21,249 11,322 - 32,571 Other miscellaneous fees (2) 1,227 665 - 1,892 Total tuition and fees, net 406,783 281,632 - 688,415 Other revenue (3) 1,766 1,728 1,125 4,619 Total revenue $ 408,549 $ 283,360 $ 1,125 $ 693,034 For the Year Ended December 31, 2020 CTU AIUS Corporate and Other (6) Total Tuition, net $ 381,371 $ 270,430 $ - $ 651,801 Technology fees 20,687 10,122 - 30,809 Other miscellaneous fees (2) 1,283 686 - 1,969 Total tuition and fees, net 403,341 281,238 - 684,579 Other revenue (3) 2,166 123 446 2,735 Total revenue $ 405,507 $ 281,361 $ 446 $ 687,314 For the Year Ended December 31, 2019 CTU AIUS Corporate and Other (6) Total Tuition, net $ 370,318 $ 225,364 $ - $ 595,682 Technology fees 17,844 9,412 - 27,256 Other miscellaneous fees (2) 1,690 428 - 2,118 Total tuition and fees, net 389,852 235,204 - 625,056 Other revenue (3) 2,411 170 67 2,648 Total revenue $ 392,263 $ 235,374 $ 67 $ 627,704 __________________ (1) Tuition includes revenue earned for degree-granting programs as well as revenue earned for non-degree professional development and continuing education offerings related to the DigitalCrafts and Hippo acquisitions from the date of acquisitions. (2) Other miscellaneous fees include student activity fees and graduation fees. (3) Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue. ( 4 ) CTU includes revenue related to the Hippo acquisition commencing on the September 10, 2021 date of acquisition. (5) AIUS includes revenue related to the (i) DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition, and (ii) Trident acquisition commencing on the March 2, 2020 date of acquisition. (6) Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue. Performance Obligations Our revenue, which is derived primarily from academic programs taught to students who attend our universities, is generally segregated into two categories: (1) tuition and fees, and (2) other. Tuition and fees represent costs to our students for educational services provided by our universities and are reflected net of scholarships and tuition discounts. Our universities charge tuition and fees at varying amounts, depending on the university, the type of program and specific curriculum. Our universities bill students a single charge that covers tuition, fees and required program materials, such as textbooks and supplies, which we treat as a single performance obligation. Generally, we bill student tuition at the beginning of each academic term for our degree programs and recognize the tuition as revenue on a straight-line basis over the academic term. As part of a student’s course of instruction, certain fees, such as technology fees and graduation fees, are billed to students. These fees are earned over the applicable term and are not considered separate performance obligations. We bill student tuition upon enrollment for our non-degree professional development and continuing education offerings and recognize the tuition as revenue on a straight-line basis over the length of the course. Other revenue, which consists of contract training Our institutions’ academic year is generally at least 30 weeks 8-12 weeks 16-52 weeks Contract Assets For each term, the portion of tuition and fee payments received from students but not yet earned is recorded as deferred revenue and reported as a current liability on our consolidated balance sheets, as we expect to earn these revenues within the next year. A contract asset is recorded for each student for the current term for which they are enrolled for the amount charged for the current term that has not yet been received as payment and to which we do not have the unconditional right to receive payment because the student has not reached the point in the student’s current academic term at which the amount billed is no longer refundable to the student. On a student by student basis, the contract asset is offset against the deferred revenue balance for the current term and the net deferred revenue balance is reflected within current liabilities on our consolidated balance sheets. For AIUS’ Trident and DigitalCrafts programs and CTU’s Hippo programs, students are billed as they enroll in courses, including courses related to future periods. Any billings for future periods would meet the definition of a contract asset as we do not have the unconditional right to receive payment as the course has not yet started. Contract assets related to future periods are offset against the respective deferred revenue associated with the future period. Due to the short-term nature of our academic terms, the contract asset balance which exists at the beginning of each quarter will no longer be a contract asset at the end of that quarter, with the exception of the contract assets associated with future periods. The decrease in contract asset balances are a result of one of the following: it becomes a student receivable balance once a student reaches the point in a student’s academic term where the amount billed is no longer refundable to the student; a refund is made to withdrawn students for the portion entitled to be refunded under each institutions’ refund policy; we receive funds to apply against the contract asset balance; or a student makes a change to the number of classes they are enrolled in which may cause an adjustment to their previously billed amount. As of the end of each quarter, a new contract asset is determined on a student by student basis based on the most recently started term and a student’s progress within that term as compared to the date at which the student is no longer entitled to a refund under each institution’s refund policy. Contract assets associated with future periods remain as contract assets until the course begins and the student reaches the point in that course that they are no longer entitled to a refund. The amount of deferred revenue balances which are being offset with contract assets balances as of December 31, 2021 and 2020 were as follows (dollars in thousands): As of December 31, 2021 2020 Gross deferred revenue $ 113,719 $ 85,402 Gross contract assets (43,106 ) (50,868 ) Deferred revenue, net $ 70,613 $ 34,534 Deferred Revenue Changes in our deferred revenue balances for the years ended December 31, 2021 and 2020 were as follows (dollars in thousands): For the Year Ended December 31, 2021 CTU AIUS Total Gross deferred revenue, January 1, 2021 $ 28,522 $ 56,880 $ 85,402 Business acquisitions, beginning balance 3,952 1,404 5,356 Revenue earned from prior balances (27,857 ) (46,591 ) (74,448 ) Billings during period (1) 439,836 271,053 710,889 Revenue earned for new billings during the period (378,926 ) (235,041 ) (613,967 ) Other adjustments (853 ) 1,340 487 Gross deferred revenue, December 31, 2021 $ 64,674 $ 49,045 $ 113,719 For the Year Ended December 31, 2020 CTU AIUS Total Gross deferred revenue, January 1, 2020 $ 27,845 $ 35,359 $ 63,204 Business acquisition, beginning balance - 13,395 13,395 Revenue earned from prior balances (25,179 ) (40,402 ) (65,581 ) Billings during period (1) 404,930 289,751 694,681 Revenue earned for new billings during the period (378,161 ) (240,836 ) (618,997 ) Other adjustments (913 ) (387 ) (1,300 ) Gross deferred revenue, December 31, 2020 $ 28,522 $ 56,880 $ 85,402 _______________ (1) Billings during period includes adjustments for prior billings. Cash Receipts Our students pay for their costs through a variety of funding sources, including federal loan and grant programs, institutional payment plans, employer reimbursement, Veterans’ Administration and other military funding and grants, private and institutional scholarships and cash payments, as well as private loans for our non-degree programs. Cash receipts from government related sources are typically received during the current academic term. We typically receive funds after the end of an academic term for students who receive employer reimbursements. Students who have not applied for any type of financial aid generally set up a payment plan with the university and make payments on a monthly basis per the terms of the payment plan. If a student withdraws from one of our universities prior to the completion of the academic term, we refund the portion of tuition and fees already paid that, pursuant to our refund policy and applicable federal and state law and accrediting agency standards, we are not entitled to retain. Generally, the amount to be refunded to a student is calculated based upon the percent of the term attended and the amount of tuition and fees paid by the student as of their withdrawal date. In certain circumstances, we have recognized revenue for students who have withdrawn that we are not entitled to retain. We have estimated a reserve for these limited circumstances based on historical evidence in the amount of $2.1 million and $2.3 million as of December 31, 2021 and 2020, respectively. Students are typically entitled to a partial refund until approximately halfway through their term. Pursuant to each university’s policy, once a student reaches the point in the term where no refund is given, the student would not have a refund due if withdrawing from the university subsequent to that date. Management reassesses collectability when a student withdraws from the university and has unpaid tuition charges for the current term which the university is entitled to retain per the applicable refund policy. Certain unpaid charges do not meet the threshold of reasonably collectible and are recognized as revenue in accordance with ASC Topic 606 when cash is received and the contract is terminated and neither party has further performance obligations. We have no remaining performance obligations for students who have withdrawn from our universities, and once the refund calculation is performed and funds are returned to the student, if applicable under our refund policy, no further consideration is due back to the student. We recognized $1.6 million, $1.1 million and $1.2 million for the years ended December 31, 2021, 2020 and 2019, respectively, for payments received from withdrawn students. Significant Judgments We analyze revenue recognition on a portfolio approach under ASC Topic 606. Significant judgment is used in determining the appropriate portfolios to assess for meeting the criteria to recognize revenue under ASC Topic 606. We have determined that all of our students can be grouped into one portfolio. Based on our past experience, students at different universities, in different programs or with different funding all behave similarly. Enrollment agreements all contain similar terms, refund policies are similar across all institutions and students work with the university to obtain some type of funding, for example, Title IV Program funds, Veterans Administration funds, military funding, employer reimbursement or self-pay. We have significant historical data for our students which allows us to analyze collectability. We do not expect that revenue earned for the portfolio is significantly different as compared to revenue that would be earned if we were to assess each student contract separately. Significant judgment is also required to assess collectability, particularly as it relates to students seeking funding under Title IV Programs. Because students are required to provide documentation, and in some cases extensive documentation, to the Department to be eligible and approved for funding, the timeframe for this process can sometimes span between 90 to 120 days. We monitor the progress of students through the eligibility and approval process and assess collectability for the portfolio each reporting period to monitor that the collectability threshold is met. For the years ended December 31, 2021, 2020 and 2019, we received a majority of our universities’ cash receipts for tuition payments from various government agencies as well as our corporate partnerships. These cash receipts represent a substantial portion of our consolidated revenues and all have low risk of collectability.

Student Receivables

Student Receivables	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Student Receivables	7. STUDENT RECEIVABLES Student receivables represent funds owed to us in exchange for the educational services provided to a student. Student receivables are reflected net of an allowance for credit losses at the end of the reporting period. Student receivables, net, are reflected on our consolidated balance sheets as components of both current and non-current assets. We do not charge interest on any of our payment plans. Our students pay for their costs through a variety of funding sources, including federal loan and grant programs, institutional payment plans, employer reimbursement, Veterans’ Administration and other military funding and grants, private and institutional scholarships and cash payments, as well as private loans for our non-degree programs. Cash receipts from government related sources are typically received during the current academic term. We typically receive funds after the end of an academic term for students who receive employer reimbursements. Students who have not applied for any type of financial aid generally set up a payment plan with the institution and make payments on a monthly basis per the terms of the payment plan. For those balances that are not received during the academic term, the balance is typically due within the current academic year which is approximately 30 weeks Our standard student receivable allowance is based on an estimate of lifetime expected credit losses for student receivables. Our estimation methodology considers a number of quantitative and qualitative factors that, based on our collection experience, we believe have an impact on our repayment risk and ability to collect student receivables. Changes in the trends in any of these factors may impact our estimate of the allowance for credit losses. These factors include, but are not limited to: internal repayment history, changes in the current economic, legislative or regulatory environments, internal cash collection forecasts and the ability to complete the federal financial aid process with the student. These factors are monitored and assessed on a regular basis. Overall, our allowance estimation process for student receivables is validated by trend analysis and comparing estimated and actual performance. We have an immaterial amount of student receivables that are due greater than 12 months from the date of our consolidated balance sheets. As of December 31, 2021 and 2020, the amount of non-current student receivables under payment plans that are longer than 12 months in duration, net of allowance for credit losses, was $1.4 million and $1.3 million, respectively. Allowance for Credit Losses We define student receivables as a portfolio segment under ASC Topic 326 – Financial Instruments – Credit Losses. For the year ended December 31, 2021 2020 2019 Balance, beginning of period $ 42,147 $ 31,964 $ 24,836 Provision for credit losses 44,349 47,561 43,470 Amounts written-off (50,514 ) (40,053 ) (38,921 ) Recoveries 3,273 2,675 2,579 Balance, end of period $ 39,255 $ 42,147 $ 31,964 Fair Value Measurements The carrying amount reported in our consolidated balance sheets for the current portion of student receivables approximates fair value because of the nature of these financial instruments as they generally have short maturity periods. It is not practicable to estimate the fair value of the non-current portion of student receivables, since observable market data is not readily available, and no reasonable estimation methodology exists.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	8. PROPERTY AND EQUIPMENT The cost basis and estimated useful lives of property and equipment as of December 31, 2021 and 2020 are as follows (dollars in thousands): December 31, 2021 (1) 2020 (1) Life Computer hardware and software $ 45,482 $ 40,587 3 years Leasehold improvements 60,520 56,095 Shorter of Life of Lease or Useful Life Furniture, fixtures and equipment 23,633 23,071 5-10 years Building and improvements 9,163 8,485 15-35 years Library materials 24 24 10 years Vehicles 55 56 5 years Construction in progress 3,189 823 142,066 129,141 Less-accumulated depreciation (113,711 ) (101,380 ) Total property and equipment, net $ 28,355 $ 27,761 ___________________ (1) Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2021 and 2020; therefore, both the cost of the asset and the related accumulated depreciation balances were reduced to zero for these assets. Depreciation expense for the years ended December 31, 2021, 2020 and 2019 was $12.3 million, $12.0 million and $9.1 million, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	9. LEASES We lease most of our administrative and educational facilities under non-cancelable operating leases expiring at various dates through 2032. Lease terms generally range from five to ten years with one to four renewal options for extended terms. In most cases, we are required to make additional payments under facility operating leases for taxes, insurance and other operating expenses incurred during the operating lease period, which are typically variable in nature. We determine if a contract contains a lease when the contract conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. Upon identification and commencement of a lease, we establish a right of use (“ROU”) Contract components A lease component is defined as an asset within the lease contract that a lessee can benefit from the use of and is not highly dependent or interrelated with other assets in the arrangement. A lease contract may contain multiple lease components. A non-lease component is defined as a component of the lease that transfers a good or service for the underlying asset, such as maintenance services. We have determined that all of our leases contain one lease component related to the building and land. We have determined that treating the land together with the building as one lease component would not result in a significant difference from accounting for them as separate lease components. Additionally, we have elected the practical expedient to include both the lease component and the non-lease component as a single component when accounting for each lease and calculating the resulting lease liability and ROU asset. Any remaining contract consideration, such as property taxes and insurance, that does not meet the definition of a lease component or non-lease component would be allocated to the single lease component based on our election. Lease liability and ROU asset The lease liability represents future lease payments for lease and non-lease components discounted for present value. Lease payments that may be included in the lease liability include fixed payments, variable lease payments that are based on an index or rate and payments for penalties for terminating the lease if the lessee is reasonably certain to use a termination option, among others. Certain of our leases contain rent escalation clauses that are specifically stated in the lease and these are included in the calculation of the lease liability. Variable lease payments for lease and non-lease components which are not based on an index or rate are excluded from the calculation of the lease liability and are recognized in the statements of income during the period incurred. The ROU asset consists of the amount of the initial measurement of the lease liability and adjusted for any lease incentives, including rent abatements and tenant improvement allowances, and any initial direct costs incurred by the lessee. The ROU asset is amortized over the remaining lease term on a straight-line basis and recorded within educational services and facilities expense on our consolidated statements of income. Lease term The lease term is determined by taking into account the initial period as stated in the lease contract and adjusted for any renewal options that the company is reasonably certain to exercise as well as any period of time that the lessee has control of the space before the stated initial term of the lease. If we determine that we are reasonably certain to exercise a termination option, the lease term is then adjusted to account for the expected termination date. Quantitative lease information Quantitative information related to leases for the years ended December 31, 2021, 2020 and 2019 is presented in the following table (dollars in thousands): For the Year Ended December 31, 2021 2020 2019 Lease expenses (1) Fixed lease expenses - operating $ 11,442 $ 12,379 $ 12,869 Variable lease expenses - operating 3,173 6,389 8,534 Sublease income (1,359 ) (2,347 ) (4,179 ) Total lease expenses $ 13,256 $ 16,421 $ 17,224 Other information Gross operating cash flows for operating leases (2) $ (18,390 ) $ (23,577 ) $ (32,827 ) Operating cash flows from subleases (2) $ 1,430 $ 2,254 $ 4,351 As of December 31, 2021 As of December 31, 2020 As of December 31, 2019 Weighted average remaining lease term (in months) – operating leases 69 70 76 Weighted average discount rate – operating leases 4.9 % 4.9 % 5.1 % _____________ (1) (2) Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs. Gross Lease Obligations As of December 31, 2021, future minimum lease payments under operating leases which are included in lease liabilities on our consolidated balance sheet are as follows (dollars in thousands): Operating Leases Total 2022 (1) $ 11,504 2023 8,444 2024 7,580 2025 7,374 2026 and thereafter 17,890 Total $ 52,792 Less: imputed interest 7,843 Present value of future minimum lease payments 44,949 Less: current lease liabilities 9,400 Non-current lease liabilities $ 35,549 _____________ (1) Amounts provided are for liabilities remaining as of December 31, 2021. Subleases Historically, for certain of our leased locations, we have vacated the facility and have fully or partially subleased the space. For each sublease that has been entered into, we remain the guarantor under the lease and therefore become the intermediate lessor. As of December 31, 2021, we have one sublease remaining with a term ending May, 30, 2023. We recognize sublease income as on offset to lease expense on our consolidated statements of income. As of December 31, 2021, future minimum sublease rental income under operating leases, which will decrease our future minimum lease payments presented above, as follows (dollars in thousands): Operating Subleases Total 2022 (1) $ 685 2023 330 Total $ 1,015 _________________ (1) Sublease receivables remaining as of December 31, 2021 S ignificant Judgments and Assumptions We use discount rates to determine the net present value of our gross lease obligations when calculating the lease liability and related ROU asset. In cases in which the rate implicit in the lease is readily determinable, we use that discount rate for purposes of the net present value calculation. In most cases, our lease agreements do not have a discount rate that is readily determinable and therefore we use an estimate of our incremental borrowing rate. Our incremental borrowing rate is determined at lease commencement or lease modification and represents the rate of interest we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. We have twelve leases related to our ongoing operations which consist of administrative offices and university locations, and we are not reasonably certain that we will extend or terminate any of those leases.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	10. GOODWILL AND OTHER INTANGIBLE ASSETS The carrying values of goodwill were $162.6 million and $118.3 million as of December 31, 2021 and 2020, respectively. A reconciliation of the changes in the carrying value of goodwill during the years ended December 31, 2021 and 2020 is as follows (dollars in thousands): As of December 31, 2021 2020 CTU AIUS Total CTU AIUS Total Balance, beginning of year $ 45,938 $ 72,374 $ 118,312 $ 45,938 $ 41,418 $ 87,356 Business acquisitions 27,790 16,477 44,267 - 30,956 30,956 Balance, end of year $ 73,728 $ 88,851 $ 162,579 $ 45,938 $ 72,374 $ 118,312 In assessing the fair value for CTU and AIUS, we performed a qualitative assessment as of October 1, 2021 to determine if we believe it is more likely than not that our reporting unit’s carrying values exceed their respective fair values. When performing the qualitative assessment, management first considered events and circumstances that may affect the fair value of the reporting unit to determine whether it is necessary to perform the quantitative impairment test. Management focused on the significant inputs, including its projections of revenue growth, operating expense leverage and the discount rate used in the prior year quantitative assessment, and any events or circumstances that could affect the significant inputs. These events and circumstances included, but were not limited to, financial performance, future expectations of financial performance, legal, regulatory, contractual, competitive, economic, political, business or other factors, and industry and market considerations, such as a deteriorating operating environment or increased competition. Management evaluated all events and circumstances, including positive or mitigating factors, that could affect the significant inputs used to determine fair value. Additionally, management evaluated its most recent quantitative assessment completed during 2020 to determine by how much the previous fair value exceeded the carrying value for each indefinite-lived intangible asset. The determination of estimated fair value of each reporting unit requires significant estimates and assumptions, and as such, these fair value measurements are categorized as Level 3 per ASC Topic 820. These estimates and assumptions primarily include, but are not limited to, the discount rate, terminal growth rates, operating cash flow projections and capital expenditure forecasts. Due to the inherent uncertainty involved in deriving those estimates, actual results could differ from those estimates. We evaluate the merits of each significant assumption used, both individually and in the aggregate, to assess the fair value of each reporting unit for reasonableness. As of December 31, 2021 and 2020, the net book value of intangible assets other than goodwill are as follows (dollars in thousands): December 31, 2021 December 31, 2020 Cost Accumulated Amortization Net Book Value Cost Accumulated Amortization Net Book Value Amortizable intangible assets: Course curriculum (1) $ 1,400 $ (856 ) $ 544 $ 1,400 $ (389 ) $ 1,011 Customer relationships (1) 22,300 (5,588 ) 16,712 8,000 (2,222 ) 5,778 Developed technology (1) 2,790 (278 ) 2,512 - - - Trade names (1) 6,480 (1,940 ) 4,540 2,400 (1,567 ) 833 Net book value, amortizable intangible assets: $ 32,970 $ (8,662 ) $ 24,308 $ 11,800 $ (4,178 ) $ 7,622 Non-amortizable intangible assets: Accreditation rights $ 1,000 $ 1,000 CTU trade name 6,900 6,900 Non-amortizable intangible assets 7,900 7,900 Intangible assets, net $ 32,208 $ 15,522 ____________________ (1) See Note 3 “Business Acquisitions” for further details on acquired intangible assets. Amortizable intangible assets are amortized on a straight-line basis over their remaining estimated useful lives, which range from one to ten years. Amortization expense from continuing operations was $4.5 million and $2.8 million for the years ended December 31, 2021 and 2020, respectively. We did not have any amortization expense for the year ended December 31, 2019. As of December 31, 2021, net intangible assets include certain accreditation rights and trade names that are considered to have indefinite useful lives and, in accordance with FASB ASC Topic 350 —Intangibles—Goodwill and Other We performed our annual impairment testing of other indefinite-lived intangible asset balances as of October 1, 2021 utilizing the qualitative assessment approach and concluded that no indicators existed that would suggest that it is more likely than not that the assets would be impaired. We monitor the operating results and revenue projections related to our CTU trade name and accreditation rights on a quarterly basis for signs of possible declines in estimated fair value. When performing the qualitative assessment, management considered events and circumstances that may affect the fair value of the intangible assets to determine whether it is necessary to perform the quantitative impairment test. These events and circumstances included, but were not limited to, financial performance, future expectations of financial performance, legal, regulatory, contractual, competitive, economic, political, business, and industry and market considerations. Management evaluated these events and circumstances, including positive or mitigating factors, that could affect the significant inputs used to determine fair value.

Credit Agreement

Credit Agreement	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Credit Agreement	11. CREDIT AGREEMENT On September 8, 2021, the Company and the subsidiary guarantors thereunder entered into a credit agreement with Wintrust Bank N.A. (“ Wintrust We may prepay amounts outstanding under the credit agreement provided notice be received by Administrative agent on the date of prepayment by early morning, in each case without premium or penalty, and terminate or reduce the commitments provided notice received by Administrative agent five business days prior. The credit agreement and the ancillary documents executed in connection therewith contain customary affirmative, negative and financial maintenance covenants. The Company is required to maintain unrestricted cash, cash equivalents and short-term investments in domestic accounts in an amount at least equal to the aggregate loan commitments then in effect. Acquisitions to be undertaken by the Company must meet certain criteria, and the Company’s ability to make restricted payments, including payments in connection with a repurchase of shares of our common stock, is subject to an aggregate maximum of $ 100.0 million per fiscal year. Upon the occurrence of certain regulatory events or if the Company’s unrestricted cash, cash equivalents and short term investments are less than 125% of the aggregate amount of the loan commitments then in effect, the Company is required to maintain cash in a segregated, restricted account in an amount not less than the aggregate loan commitments then in effect. The credit agreement also contains customary representations and warranties, events of default, and rights and remedies upon the occurrence of any event of default thereunder, including rights to accelerate the loans, terminate the commitments and realize upon the collateral securing the obligations under the credit agreement. This credit agreement with Wintrust replaced the previous $50.0 million revolving credit facility set forth in the credit agreement dated as of December 27, 2018 with BMO Harris Bank N.A. As of December 31, 2021 and 2020, there were no outstanding borrowings under the current or prior revolving credit facility. Selected details of our credit agreement as of and for the years ended December 31, 2021 and 2020 were as follows (dollars in thousands): As of December 31, 2021 2020 Credit Agreement: Credit facility remaining availability $ 124,082 $ 48,582 Outstanding letters of credit $ 918 $ 1,418 Availability of additional letters of credit (1) $ 124,082 $ 23,582 Weighted average daily revolving credit borrowings for the year ended $ - $ - Weighted average annual interest rate 0.00 % 0.00 % Commitment fee rate 0.30 % 0.30 % Letter of credit fee rate (2) 3.00 % 1.25 % ________________ (1) The letters of credit availability under the credit agreement with Wintrust is up to the borrowing limit of $125.0 million. For the previous credit agreement with BMO Harris Bank N.A., a sublimit of $25.0 million under the credit agreement was part of, not in addition to, the $50.0 million borrowing limit under the credit agreement. (2) The 2021 letter of credit fee rate is based on prime minus 1.0%, subject to a minimum rate of 3.0%. The prime rate as of December 31, 2021 was 3.25%, which would yield a 2.25% fee rate, therefore the minimum rate of 3.0% is reflected in the table above.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2021
Loss Contingency [Abstract]
Contingencies	12. CONTINGENCIES An accrual for estimated legal fees and settlements of $1.1 million and $1.0 million at December 31, 2021 and December 31, 2020, respectively, is presented within other current liabilities on our consolidated balance sheets. We record a liability when we believe that it is both probable that a loss will be incurred and the amount of loss can be reasonably estimated. We evaluate, at least quarterly, developments in our legal matters that could affect the amount of liability that was previously accrued and make adjustments as further information develops, circumstances change or contingencies are resolved. Significant judgment is required to determine both probability and the estimated amount. We may be unable to estimate a possible loss or range of possible loss due to various reasons, including, among others: (1) if the damages sought are indeterminate; (2) if the proceedings are in early stages; (3) if there is uncertainty as to the outcome of pending appeals, motions or settlements; (4) if there are significant factual issues to be determined or resolved; and (5) if there are novel or unsettled legal theories presented. In such instances, there is considerable uncertainty regarding the ultimate resolution of such matters, including a possible eventual loss, if any. We receive from time-to-time requests from state attorneys general, federal and state government agencies and accreditors relating to our institutions, to specific complaints they have received from students or former students or to student loan forgiveness claims which seek information about students, our programs, and other matters relating to our activities. These requests can be broad and time consuming to respond to, and there is a risk that they could expand and/or lead to a formal action or claims of non-compliance. We are subject to a variety of other claims, lawsuits, arbitrations and investigations that arise from time to time out of the conduct of our business, including, but not limited to, matters involving prospective students, students or former students, alleged violations of the Telephone Consumer Protection Act, both individually and on behalf of a putative class, and employment matters. Periodically matters arise that we consider outside the scope of ordinary routine litigation incidental to our business. While we currently believe that these matters, individually or in aggregate, will not have a material adverse impact on our financial position, cash flows or results of operations, these matters are subject to inherent uncertainties, and management’s view of these matters may change in the future. Were an unfavorable outcome to occur in any one or more of these matters, there exists the possibility of a material adverse impact on our business, reputation, financial position and cash flows . Contingent Consideration for Business Acquisitions We recorded contingent consideration amounts for the DigitalCrafts and Hippo acquisitions in the aggregate amount of $3.2 million during the year ended December 31, 2021. This aggregate amount was calculated based upon third party valuation reports in conjunction with the purchase price allocations for these acquisitions. Pursuant to the acquisition agreements, post-closing contingent consideration payments are expected to be paid in early 2024 based upon the achievement of certain financial metrics, with an aggregate maximum amount of $6.5 million.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	13. INCOME TAXES Pretax income from continuing operations for the years ended December 31, 2021, 2020 and 2019 was $149.1 million, $146.8 million and $93.0 million, respectively. The provision for income taxes from continuing operations for the years ended December 31, 2021, 2020 and 2019 consists of the following (dollars in thousands): For the Year Ended December 31, 2021 2020 2019 Current provision Federal $ 19,143 $ - $ - State and local 4,956 2,110 754 Total current provision 24,099 2,110 754 Deferred provision Federal 13,389 15,425 19,230 State and local 1,942 4,941 2,444 Total deferred provision 15,331 20,366 21,674 Total provision for income taxes $ 39,430 $ 22,476 $ 22,428 A reconciliation of the statutory U.S. federal income tax rate to our effective income tax rate for continuing operations for the years ended December 31, 2021, 2020 and 2019 is as follows: For the Year Ended December 31, 2021 2020 2019 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes 2.6 2.7 2.7 Stock-based compensation 1.0 (0.3 ) (1.3 ) Capital loss (2.1 ) - - Valuation allowance 2.1 (10.9 ) - State audit settlement - - (0.5 ) Tax credits (0.3 ) (0.1 ) (0.1 ) Other 2.1 2.9 2.3 Effective income tax rate 26.4 % 15.3 % 24.1 % The effective tax rate for the year ended December 31, 2021 includes a $1.6 million unfavorable adjustment associated with the tax effect of stock-based compensation, which increased the effective tax rate by 1.0%. The 2021 effective tax rate also reflects a $0.5 million favorable adjustment related to federal and state credits claimed for the 2020 tax return and anticipated for the 2021 tax year, which decreased the effective tax rate by 0.3% and a $3.1 million favorable adjustment associated with a capital loss incurred for tax purposes on the elimination of a wholly-owned subsidiary, which decreased the effective tax rate by 2.1%. Since utilization of the capital loss is not anticipated, a valuation allowance of $3.1 million was established against the full amount of the deferred tax balance for the capital loss carryforward, which increased the effective tax rate by 2.1%. The effective tax rate for the year ended December 31, 2020 includes a $16.0 million favorable adjustment related to the release of a valuation allowance maintained against the portion of the foreign tax credit carryforward supported by an overall domestic loss (“ ODL The effective tax rate for the year ended December 31, 2019 includes a $1.2 million favorable adjustment associated with the tax effect of stock-based compensation, which decreased the effective tax rate by 1.3% and a $0.5 million net benefit associated with the results of a Florida income tax audit covering the years ended December 31, 2014 through December 31, 2016, which decreased the effective tax rate by 0.5%. The 2019 effective tax rate also reflects the deductibility of $29.7 million of the FTC settlement, which is the amount paid for the purpose of restitution. A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits as of December 31, 2021, 2020 and 2019 is as follows (dollars in thousands): 2021 2020 2019 Gross unrecognized tax benefits, beginning of the year $ 11,794 $ 9,859 $ 9,009 Additions for tax positions of prior years 941 - - Additions for tax positions related to the current year 4,250 2,954 1,957 Reductions for tax positions of prior years - (51 ) (58 ) Reductions due to lapse of applicable statute of limitations (1,034 ) (968 ) (1,049 ) Subtotal 15,951 11,794 9,859 Interest and penalties 2,020 1,919 1,901 Total gross unrecognized tax benefits, end of the year $ 17,971 $ 13,713 $ 11,760 The total amount of net unrecognized tax benefits that, if recognized, would favorably affect the effective tax rate in future periods was $14.2 million and $10.8 million for the years ended December 31, 2021 and 2020, respectively. As of December 31, 2021, our short and long-term reserves, recorded within current accrued income taxes and other non-current liabilities, respectively, related to FASB’s interpretation No. 48 of ASC Topic 740-10, Accounting for Uncertainty in Income Taxes (“FIN 48”) Perdoceo and its subsidiaries file income tax returns in the U.S. and in various state and local jurisdictions and are routinely examined by tax authorities in these jurisdictions. As of December 31, 2021, Perdoceo had been examined by the Internal Revenue Service through our tax year ending December 31, 2014. Due to the expiration of various statutes of limitations, it is reasonably possible that Perdoceo’s gross unrecognized tax benefits balance may change within the next twelve months by a range of zero to $1.6 million. Deferred income tax assets and liabilities result primarily from temporary differences in the recognition of various expenses for tax and financial statement purposes, and from the recognition of the tax benefits of net operating loss and tax credit carry forwards. Components of deferred income tax assets and liabilities for continuing operations as of December 31, 2021 and 2020 are as follows (dollars in thousands): December 31, 2021 2020 Deferred income tax assets: Accrued occupancy $ 11,012 $ 13,028 Foreign tax credits 16,958 27,321 Valuation allowance foreign tax credits (16,958 ) (16,958 ) Compensation and employee benefits 6,371 7,054 Tax net operating loss carry forwards 17,832 19,183 Valuation allowance (12,090 ) (12,069 ) Allowance for doubtful accounts 5,721 5,363 Accrued settlements and legal 199 203 Accrued restructuring and severance 343 353 Equity method for investments 401 406 General business tax credits - 1,620 Capital loss 3,130 - Capital loss valuation allowance (3,130 ) - Amortization 3,486 5,656 Depreciation 851 - Other 1,587 1,388 Total deferred income tax assets 35,713 52,548 Deferred income tax liabilities: Depreciation - 111 Right of use asset, net 9,244 10,611 Other 1,355 1,475 Total deferred income tax liabilities 10,599 12,197 Net deferred income tax assets $ 25,114 $ 40,351 As of December 31, 2021, the Company has a gross deferred tax asset before valuation allowance of $179.2 million and a gross deferred tax liability of $44.7 million. As of December 31, 2020, the Company had a gross deferred tax asset before valuation allowance of $194.4 million and a gross deferred tax liability of $51.5 million. For the tax year ended December 31, 2021, we expect to fully utilize $10.2 million of foreign tax credit carryforward and $1.8 million of general business tax credit carryforward to offset the federal tax liability that would otherwise be due in 2021. As for the remaining $17.0 million of foreign tax credit carryforward, which expires during 2022 and 2023 and is not supported by an ODL account balance, we continue to maintain a full valuation allowance. During the year ended December 31, 2021, the Company incurred a capital loss for tax purposes of $13.2 million on the elimination of a wholly-owned subsidiary. Given the absence of offsetting capital gains, the capital loss has no impact on the federal and state tax liability for both the current and prior years, and a valuation allowance has been established against the full amount of the deferred tax balance for the capital loss carryforward. We have state net operating loss (“ NOL In assessing the continued need for a valuation allowance, we consider both positive and negative evidence related to the likelihood of realization of the deferred tax assets. Topic 740 provides that important factors in determining whether a deferred tax asset will be realized include whether sufficient taxable income is expected in future years in order to use the deferred tax asset. In evaluating the realizability of deferred income tax assets, we consider, among other things, historical levels of taxable income along with possible sources of future taxable income, which include: the expected timing of the reversals of existing temporary reporting differences, the existence of taxable income in prior carryback years, the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits and expected future taxable income. Changes in, among other things, income tax legislation, statutory income tax rates, or future taxable income levels could materially impact our valuation of income tax assets and liabilities and could cause our income tax provision to vary significantly among financial reporting periods. If, based on the weight of available evidence, it is more likely than not the deferred tax assets will not be realized, we record a valuation allowance, or release all or a portion of the valuation allowance if it is more likely than not the deferred tax assets are expected to be realized. The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. A high degree of judgment is required to determine if, and the extent to which, valuation allowances should be recorded against deferred tax assets. As of December 31, 2020 and for the first three quarters of 2021,

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	14. SHARE-BASED COMPENSATION Overview of Share-Based Compensation Plans The Perdoceo Education Corporation Amended and Restated 2016 Incentive Compensation Plan (“the “ 2016 Plan As of December 31, 2021, we estimate that compensation expense of approximately $13.0 million will be recognized over the next four years for all unvested share-based awards that have been granted to participants. This amount excludes any estimates of forfeitures. Stock Options. The exercise price of stock options granted under each of the plans is equal to the fair market value of our common stock on the date of grant. Employee stock options generally become exercisable 25% per year over a four-year Stock option activity during the years ended December 31, 2021, 2020 and 2019 under our plans was as follows: Options Weighted Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic (in thousands) Outstanding as of December 31, 2018 2,818,433 $ 9.59 Granted 41,958 21.29 Exercised (258,621 ) 5.76 $ 2,902 Forfeited (8,017 ) 15.39 Cancelled (156,144 ) 22.99 Outstanding as of December 31, 2019 2,437,609 $ 9.32 Granted - - Exercised (1,040,304 ) 5.18 $ 7,615 Forfeited (8,719 ) 11.79 Cancelled (161,512 ) 30.25 Outstanding as of December 31, 2020 1,227,074 $ 10.07 Granted - - Exercised (103,407 ) 5.31 $ 725 Forfeited - - Cancelled (128,576 ) 22.01 Outstanding as of December 31, 2021 995,091 $ 9.02 4.57 $ 3,823 Exercisable as of December 31, 2021 929,700 $ 8.68 4.46 $ 3,823 The following table summarizes information with respect to all outstanding and exercisable stock options under all of our plans as of December 31, 2021: Options Outstanding Options Exercisable Number of Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Number Exercisable Weighted Average Exercise Price 64,000 $ 2.82 1.36 64,000 $ 2.82 106,656 $ 3.93 3.38 106,656 $ 3.93 108,922 $ 4.60 3.80 108,922 $ 4.60 23,704 $ 5.90 3.18 23,704 $ 5.90 105,645 $ 5.96 4.39 105,645 $ 5.96 73,308 $ 6.60 0.94 73,308 $ 6.60 105,533 $ 8.30 5.18 105,533 $ 8.30 72,794 $ 9.94 5.42 72,794 $ 9.94 236,452 $ 13.80 6.18 171,061 $ 13.80 98,077 $ 17.91 6.92 98,077 $ 17.91 995,091 $ 9.02 4.57 929,700 $ 8.68 Restricted Stock Units to be Settled in Stock. Restricted stock units to be settled in shares of stock which are not “performance-based” generally vest 25% per year over a four-year The following table summarizes information with respect to all outstanding restricted stock units to be settled in shares of stock under our plans during the years ended December 31, 2021, 2020 and 2019: Restricted Stock to be Settled in Shares of Stock Units Weighted Average Grant-Date Fair Value Per Unit Outstanding as of December 31, 2018 2,017,477 $ 12.70 Granted 427,488 21.31 Vested (500,818 ) 6.14 Forfeited (22,955 ) 11.42 Outstanding as of December 31, 2019 1,921,192 $ 16.34 Granted 534,471 15.45 Vested (242,515 ) 11.02 Forfeited (67,098 ) 17.18 Outstanding as of December 31, 2020 2,146,050 $ 16.70 Granted 723,245 11.87 Vested (1,329,017 ) 16.35 Forfeited (77,085 ) 11.98 Outstanding as of December 31, 2021 1,463,193 $ 14.87 Deferred Stock Units to be Settled in Stock. Perdoceo granted deferred stock units to our non-employee directors prior to 2017. The deferred stock units are to be settled in shares of stock. Settlement of the deferred stock units and delivery of the underlying shares of stock to the plan participants does not occur until he or she ceases to provide services to the Company in the capacity of a director, employee or consultant. As of December 31, 2021, there are 73 thousand deferred stock units outstanding. Stock-Based Compensation Expense. Total stock-based compensation expense for the years ended December 31, 2021, 2020 and 2019 for all types of awards was as follows (dollars in thousands): December 31, Award Type 2021 2020 2019 Stock options $ 464 $ 1,134 $ 1,690 Restricted stock units settled in stock 14,495 12,227 7,569 Restricted stock units settled in cash - (240 ) 2,301 Total stock-based compensation expense $ 14,959 $ 13,121 $ 11,560 Share-Based Awards Assumptions We recognize the value of share-based compensation as expense in our consolidated statements of income during the vesting periods of the underlying share-based awards using the straight-line method. FASB ASC Topic 718 allows companies to estimate forfeitures of share-based awards at the time of grant and revise such estimates in subsequent periods if actual forfeitures differ from original projections. The fair value of stock option awards was estimated on the date of grant using the Black-Scholes-Merton option pricing model. During 2021, Perdoceo did not grant any stock options. Our determination of the fair value of each stock option is affected by our stock price on the date of grant, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, our expected stock price volatility over the expected life of the awards and actual and projected stock option exercise behavior. The weighted average fair value per share of stock option awards granted during the year ended December 31, 2019 and assumptions used to value stock options are as follows: For the Year Ended December 31, 2021 (1) 2020 (1) 2019 Dividend yield NA NA - Risk-free interest rate NA NA 1.6 % Weighted average volatility NA NA 62.6 % Expected life (in years) NA NA 8.0 Weighted average grant date fair value per share of options granted NA NA $ 13.78 _________________ (1) There were no stock options awarded during the years ended December 31, 2021 and 2020. Volatility is calculated based on the actual historical daily prices of our common stock over the same time period as the expected term of the stock option award. The expected life of each stock option award is estimated based primarily on our actual historical director and employee exercise behavior and forfeiture rates. The fair value of each share of restricted stock and restricted stock units to be settled in stock is equal to the fair market value of our common stock as of the date of grant, which is the closing price per share of our common stock on NASDAQ.

Stock Repurchase Program

Stock Repurchase Program	12 Months Ended
	Dec. 31, 2021
Stockholders Equity Note [Abstract]
Stock Repurchase Program	15. STOCK REPURCHASE PROGRAM On November 4, 2019, the Board of Directors of the Company approved a stock repurchase program which authorizes the Company to repurchase up to $50.0 million of the Company’s outstanding common stock. The program replaced all prior stock repurchase programs authorized by the Board of Directors. The program’s original expiration date was December 31, 2021. On October 19, 2021, the Board of Directors of the Company extended the expiration date of the program to February 28, 2022. The timing of purchases and the number of shares repurchased under the program will be determined by the Company’s management and will depend on a variety of factors including stock price, trading volume and other general market and economic conditions, its assessment of alternative uses of capital, regulatory requirements and other factors. Repurchases will be made in open market transactions, including block purchases, conducted in accordance with Rule 10b-18 under the Exchange Act as well as may be made pursuant to trading plans established under Rule 10b5-1 under the Exchange Act, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The stock repurchase program does not obligate the Company to purchase shares and the Company may, in its discretion, begin, suspend or terminate repurchases at any time, without any prior notice. During the year ended December 31, 2021, we repurchased 2.3 million shares of our common stock for approximately $25.3 million at an average price of $10.94 per share and during the year ended December 31, 2020, we repurchased 1.3 million shares of our common stock for approximately $17.9 million at an average price of $13.53 per share. As of December 31, 2021, approximately $2.9 million was available under our authorized stock repurchase program to repurchase outstanding shares of our common stock. Shares of stock repurchased under the program are held as treasury shares. These repurchased shares have reduced the weighted average number of shares of common stock outstanding for basic and diluted earnings per share calculations. On January 27, 2022 the Board of Directors of the Company approved a new stock repurchase program for up to $50.0 million which commences March 1, 2022 and expires September 30, 2023. The other terms of the new stock repurchase program are consistent with the Company’s current stock repurchase program described above which expires February 28, 2022.

Weighted Average Common Shares

Weighted Average Common Shares	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Weighted Average Common Shares	16. WEIGHTED AVERAGE COMMON SHARES Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares assuming dilution. Dilutive common shares outstanding is computed using the Treasury Stock Method and reflects the additional shares that would be outstanding if dilutive stock options were exercised and restricted stock units were settled for common shares during the period. The weighted average number of common shares used to compute basic and diluted net income per share for the years ended December 31, 2021, 2020 and 2019 were as follows: For the Year Ended December 31, 2021 2020 2019 Basic common shares outstanding 70,024 69,414 70,088 Common stock equivalents 857 1,851 1,997 Diluted common shares outstanding 70,881 71,265 72,085 For the years ended December 31, 2021, 2020 and 2019, certain unexercised stock option awards are excluded from our computation of diluted earnings per share, as these shares were out-of-the-money and their effect would have been anti-dilutive. The anti-dilutive options that were excluded from our computation of diluted earnings per share were 0.4 million, 0.5 million and 0.7 million shares for the years ended December 31, 2021, 2020 and 2019, respectively. In addition to the common stock issued upon the exercise of employee stock options and the vesting of restricted stock units to be settled in stock, we issued less than 0.1 million shares for each of the years ended December 31, 20 2 1 , 20 20 and 201 9 , pursuant to our employee stock purchase plan.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2021
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	17. EMPLOYEE BENEFIT PLANS Retirement Savings and Profit Sharing Plan We maintain a defined contribution 401(k) retirement savings plan which is available to all employees who have worked greater than 1,000 hours within a fiscal year. Under the plan, an eligible employee may elect to defer receipt of a portion of their annual pay, including salary and bonus. During 2021, 2020 and 2019, we contributed this amount to the plan on the employee’s behalf and also made a matching contribution equal to 50% of the first 2% and 25% of the next 4% of the percentage of annual pay that the employee elected to defer. For employees hired on or after January 1, 2020, the participant is 100% vested in the company’s matching contribution after two years of service. Employees hired before January 1, 2020 are fully vested in the company’s matching contribution. During the years ended December 31, 2021, 2020 and 2019, we recorded expense under this plan of approximately $3.0 million, $3.0 million, and $2.6 million, respectively. Employee Stock Purchase Plan We maintain an employee stock purchase plan that allows substantially all full-time and part-time employees to acquire shares of our common stock through payroll deductions over three-month offering periods. The per share purchase price is equal to 95% of the fair market value of a share of our common stock on the last day of the offering period, and purchases are limited to 10% of an employee’s salary, up to a maximum of $25,000 per calendar year. We are authorized to issue up to 4.0 million shares of common stock under the employee stock purchase plan, and, as of December 31, 2021, 3.4 million shares of common stock have been issued under the plan. The compensation expense for employee share purchases recorded during the years ended December 31, 2021, 2020 and 2019 in connection with the compensatory elements of our employee stock purchase plan was not significant.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Reporting	18. SEGMENT REPORTING Our segments are determined in accordance with FASB ASC Topic 280— Segment Reporting Our two reporting segments are described below. ☐ Colorado Technical University (CTU) is committed to providing quality and industry-relevant higher education to a diverse student population through innovative technology and experienced faculty, enabling the pursuit of personal and professional goals. CTU is focused on serving adult, non-traditional students seeking career advancement, as well as addressing employer’s needs for a well-educated workforce. CTU offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of December 31, 2021, students enrolled at CTU represented approximately 61% of our total enrollments. Approximately 96% of CTU’s students are enrolled in programs offered fully online. Through December 31, 2021 CTU’s campus-based and blended-format students pursued their education solely through CTU’s online platform as a result of the COVID-19 pandemic. ☐ The American InterContinental University System (AIUS or AIU System) is comprised of two universities: American InterContinental University (“ AIU ”) and Trident University International (“ Trident” or “TUI ”). AIUS is committed to providing quality and accessible higher education opportunities for a diverse student population, including adult and other non-traditional learners and the military community. AIUS places emphasis on the educational, professional and personal growth of each student. AIUS offers academic programs in the career-oriented disciplines of business studies, information technologies, education, health sciences and criminal justice. Students pursue their degrees through fully-online programs, local campuses and blended formats, which combine campus-based and online education. As of December 31, 2021, students enrolled at AIUS represented approximately 39% of our total enrollments. Approximately 97% of AIUS’ students are enrolled in programs offered fully online. Throughout 2021, courses at AIUS’ ground-based campuses were gradually offered in-person, with substantially all classes being offered in-person by December 31, 2021. Students are offered the opportunity to return to campus-based instruction or remain virtual through synchronous virtual instruction. We evaluate segment performance based on operating results. Adjustments to reconcile segment results to consolidated results are included under the caption “Corporate and Other,” which primarily includes unallocated corporate activity and eliminations, as well as results related to our closed campuses. Summary financial information by reporting segment is as follows (dollars in thousands): Revenue Operating Income (Loss) Depreciation and Amortization Capital Expenditures Total Assets (1) For the Year Ended December 31, 2021 CTU (2) $ 408,549 $ 148,481 $ 7,365 $ 2,949 $ 153,072 AIUS (3) 283,360 39,130 9,068 1,666 151,407 Corporate and Other (4) 1,125 (38,595 ) 333 5,838 542,954 Total $ 693,034 $ 149,016 $ 16,766 $ 10,453 $ 847,433 For the Year Ended December 31, 2020 CTU $ 405,507 $ 138,490 $ 6,165 $ 110 $ 96,922 AIUS (3) 281,361 30,822 8,301 1,224 141,602 Corporate and Other (4) 446 (26,378 ) 320 8,434 482,993 Total $ 687,314 $ 142,934 $ 14,786 $ 9,768 $ 721,517 For the Year Ended December 31, 2019 CTU (5) $ 392,263 $ 108,602 $ 5,397 $ 580 AIUS (6) 235,374 16,413 3,388 411 Corporate and Other (4) (7) 67 (38,553 ) 360 4,183 Total $ 627,704 $ 86,462 $ 9,145 $ 5,174 __________________ (1) Total assets are presented on a consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries. (2) CTU results of operations and total assets include the Hippo acquisition commencing on the September 10, 2021 date of acquisition and as of December 31, 2021. (3) AIUS results of operations and total assets include the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition and as of December 31, 2021 and the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of December 31, 2021 and 2020. (4) Corporate and Other includes results of operations and total assets for closed campuses. Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue. (5) CTU results of operations include a $18.6 million charge related to the FTC settlement for the year ended December 31, 2019. (6) AIUS results of operations include a $11.4 million charge related to the FTC settlement for the year ended December 31, 2019. ( 7 ) Corporate and Other results of operations include a $7.1 million charge related to the Oregon arbitration matter for closed campuses for the year ended December 31, 2019.

Valuation and Qualifying Accoun

Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2021
Valuation And Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts (dollars in thousands) Description Balance, Beginning of Period Additions/Charges to Expense Deductions/ Other Balance, End of Period Valuation allowance for deferred tax assets (1) For the year ended December 31, 2021 $ 29,027 $ 3,151 $ - $ 32,178 For the year ended December 31, 2020 $ 44,999 $ 68 $ (16,040 ) $ 29,027 For the year ended December 31, 2019 $ 48,037 $ - $ (3,038 ) $ 44,999 Valuation allowance for credit losses: For the year ended December 31, 2021 $ 42,147 $ 44,349 $ (47,241 ) $ 39,255 For the year ended December 31, 2020 $ 31,964 $ 47,561 $ (37,378 ) $ 42,147 For the year ended December 31, 2019 $ 24,836 $ 43,470 $ (36,342 ) $ 31,964 (1) Amounts include both continuing and discontinued operations gross deferred tax balances.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Financial Statement Presentation	a. Principles of Consolidation and Basis of Financial Statement Presentation These consolidated financial statements presented herein include the accounts of Perdoceo Education Corporation and our wholly-owned subsidiaries (collectively “Perdoceo”or “PEC”)
Segment Reporting	Our reporting segments are determined in accordance with Financial Accounting Standards Board (“FASB”) (“ASC”) Segment Reporting
Business Acquisition	On August 2, 2021, the Company acquired substantially all of the assets of DigitalCrafts. DigitalCrafts operations were brought within the AIUS segment, preserving the “DigitalCrafts” name and programs as part of AIUS’ operations. Results of operations related to the DigitalCrafts acquisition are included in the consolidated financial statements from the date of acquisition. See Note 3 “ Business Acquisitions On September 10, 2021, the Company acquired substantially all of the assets of Hippo Education (“ Hippo Results of operations related to the Hippo acquisition are included in the consolidated financial statements from the date of acquisition. See Note 3 “ Business Acquisitions ” in our consolidated financial statements for further information.
Management's Use of Estimates	b. Management’s Use of Estimates The preparation of our consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”)
Student Receivables and Allowance for Credit Losses	c. Student Receivables and Allowance for Credit Losses Student receivables represent funds owed to us in exchange for the educational services provided to a student. Student receivables are reported net of an allowance for credit losses at the end of the reporting period. Student receivables which are due to be paid in less than one year are recorded as current assets within our consolidated balance sheets. Student receivables which are due to be paid more than one year from the balance sheet date are reported as non-current assets within our consolidated balance sheets. A substantial portion of credit extended to students is repaid through the students’ participation in various federal financial aid programs authorized by Title IV of the Higher Education Act of 1965, as amended (“Higher Education Act”) “ Title IV Programs .” For the years ended December 31, 20 21 , 20 20 and 20 19 , approximately 81 %, 80 % and 79 %, respectively, of our institutions’ cash receipts from tuition payments came from Title IV Program funding. Generally, a student receivable balance is written off once a student is out of school and it reaches greater than 90 days past due. Although we analyze past due receivables, it is not practical to provide an aging of our non-current student receivable balances as a result of the methodology used in determining our earned student receivable balances. Student receivables are recognized on our consolidated balance sheets as they are deemed earned over the course of a student’s program and/or term, and therefore cash collections are not applied against specifically dated transactions. We extend unsecured credit to a portion of the students who are enrolled at our academic institutions for tuition and certain other educational costs. Based upon past experience and judgment, we establish an allowance for credit losses with respect to student receivables which we estimate will ultimately not be collectible. As such, our results from operations only reflect the amount of revenue that is estimated to be reasonably collectible. Our standard student receivable allowance is based on an estimate of lifetime expected credit losses for student receivables. Our estimation methodology considers a number of quantitative and qualitative factors that, based on our collection experience, we believe have an impact on our repayment risk and ability to collect student receivables. Changes in the trends in any of these factors may impact our estimate of the allowance for credit losses. These factors include, but are not limited to: internal repayment history, changes in the current economic, legislative or regulatory environments, internal cash collection forecasts and the ability to complete the federal financial aid process with the student. These factors are monitored and assessed on a regular basis. Overall, our allowance estimation process for student receivables is validated by trending analysis and comparing estimated and actual performance. We monitor our collections and write-off experience to assess whether or not adjustments to our allowance percentage estimates are necessary. Changes in trends in any of the factors that we believe impact the collection of our student receivables, as noted above, or modifications to our collection practices, and other related policies may impact our estimate of our allowance for credit losses and our results from operations.
Revenue Recognition	d. Revenue Recognition Our revenue, which is derived primarily from academic programs taught to students who attend our universities, is generally segregated into two categories: (1) tuition and fees, and (2) other. Tuition and fees represent costs to our students for educational services provided by our universities and are reflected net of scholarships and tuition discounts. Our universities charge tuition and fees at varying amounts, depending on the university, the type of program and specific curriculum. Our universities bill students a single charge that covers tuition, fees and required program materials, such as textbooks and supplies, which we treat as a single performance obligation. Generally, we bill student tuition at the beginning of each academic term for our degree programs and recognize the tuition as revenue on a straight-line basis over the academic term. As part of a student’s course of instruction, certain fees, such as technology fees and graduation fees, are billed to students. These fees are earned over the applicable term and are not considered separate performance obligations. We bill student tuition upon enrollment for our non-degree professional development and continuing education offerings and recognize the tuition as revenue on a straight-line basis over the length of the course. For each term, the portion of tuition and fee payments received from students but not yet earned is recorded as deferred revenue and reported as a current liability on our consolidated balance sheets, as we expect to earn these revenues within the next year. A contract asset is recorded for each student for the current term for which they are enrolled for the amount charged for the current term that has not yet been received as payment and to which we do not have the unconditional right to receive payment because the student has not reached the point in the student’s current academic term at which the amount billed is no longer refundable to the student. On a student by student basis, the contract asset is offset against the deferred revenue balance for the current term and the net deferred revenue balance is reflected within current liabilities on our consolidated balance sheets. For AIUS’ Trident and DigitalCrafts programs and CTU’s Hippo programs, students are billed as they enroll in courses, including courses related to future periods. Any billings for future periods would meet the definition of a contract asset as we do not have the unconditional right to receive payment as the course has not yet started. Contract assets related to future periods are offset against the respective deferred revenue associated with the future period. If a student withdraws from one of our universities prior to the completion of the academic term, we refund the portion of tuition and fees already paid that, pursuant to our refund policy and applicable federal and state law and accrediting agency standards, we are not entitled to retain. Generally, the amount to be refunded to a student is calculated based upon the percent of the term attended and the amount of tuition and fees paid by the student as of their withdrawal date. Students are typically entitled to a partial refund until approximately halfway through their term. Pursuant to each university’s policy, once a student reaches the point in the term where no refund is given, the student would not have a refund due if withdrawing from the university subsequent to that date. Management reassesses collectability when a student withdraws from the university and has unpaid tuition charges for the current term which the university is entitled to retain per the applicable refund policy. Such unpaid charges generally do not meet the threshold of reasonably collectible and are recognized as revenue in accordance with ASC Topic 606 when cash is received and the contract is terminated and neither party has further performance obligations. Our institution s’ academic year is generally at least 30 weeks in length but varies both by institution and program of study and is divided by academic terms. Academic terms are determined by regulatory requirements mandated by the federal government and/or applicable accrediting body, which also vary by university and program. Academic terms are determined by start dates, which vary by university and program and are generally 8-12 weeks in length. Our non-degree professional development and continuing education offerings are generally 16-52 weeks in length. Our students finance costs through a variety of funding sources, including, among others, federal loan and grant programs, institutional payment plans, employer reimbursement, Veterans’ Administration and other military funding and grants, private and institutional scholarships and cash payments , as well as private loans for our non-degree programs . Other revenue, which consists primarily of contract training revenue, bookstore sales and miscellaneous non-student related revenue, is billed and recognized as goods are delivered or services are performed. Contract training revenue results from individual courses that are stand-alone courses and not part of a degree or certificate program. Bookstore sales are primarily initiated by the student and are not included in the enrollment agreement at the onset of a student’s entrance to the institution. Miscellaneous non-student related revenue consists of staffing services provided to third parties and software license fees. These types of sales constitute a separate performance obligation from classroom instruction.
Cash, Cash Equivalents and Restricted Cash	e. Cash, Cash Equivalents and Restricted Cash Cash, cash equivalents and restricted cash include cash and highly liquid investments with original maturities of three months or less. The fair market value of cash, cash equivalents and restricted cash approximate their carrying value. The cash in the Company’s banks is not fully insured by the Federal Deposit Insurance Corporation. The Company has not experienced any material losses in such accounts. The restricted cash balance as of December 31, 2021 was $5.2 million and relates to amounts held in escrow accounts to secure post-closing indemnification obligations of the seller pursuant to the Trident and Hippo acquisitions. Students at our institutions may receive grants, loans and work-study opportunities to fund their education under Title IV Programs. In certain instances, students may request that we retain a portion of their Title IV funds provided to them in excess of tuition billings and authorize us to apply these funds to historical balances or future charges and/or distribute them directly to the student in certain cases. As of December 31, 2021 and 2020, we held $10.4 million and $10.0 million, respectively, of these funds on behalf of students within cash and cash equivalents on our consolidated balance sheet, with the offset recorded as prepaid revenue within deferred revenue on our consolidated balance sheets.
Investments	f. Investments Our investments, which primarily consist of municipal bonds, non-governmental debt securities and treasury and federal agencies securities are classified as “available-for-sale” and recorded at fair value. The Company measures the fair value of financial instruments under the guidance of ASC Topic 820, Fair Value Measurement We use the equity method to account for our investment in equity securities if our investment gives us the ability to exercise significant influence over operating and financial policies of the investee. We include our proportionate share of earnings and/or losses of our equity method investee in other income within our consolidated statements of income. The carrying value of our equity investment is reported within other non-current assets on our consolidated balance sheets. Our investment in an equity affiliate equated to a 30.7%, or $3.2 million, non-controlling interest in CCKF, a Dublin-based educational technology company providing intelligent systems to power the delivery of individualized and personalized learning.
Property and Equipment	g. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation and amortization are recognized using the straight-line method over the estimated useful lives of the related assets for financial reporting purposes and an accelerated method for income tax reporting purposes. Leasehold improvements are amortized on a straight-line basis over the shorter of the life of the lease or the useful life. Maintenance, repairs, minor renewals and betterments are expensed as incurred, and major improvements, which extend the useful life of the asset, are capitalized.
Goodwill and Intangible Assets	h. Goodwill and Intangible Assets Goodwill represents the excess of cost over fair market value of identifiable net assets acquired through business purchases. In accordance with FASB ASC Topic 350 – Intangibles-Goodwill and Other (“quantitative assessment”) goodwill of the reporting unit is considered to be impaired. The amount of impairment loss is equal to the excess of the book value of the goodwill over the fair value of goodwill. In certain cases, a qualitative assessment may be used to determine if it is more likely than not that a reporting unit’s carrying value exceeds its fair value and if the quantitative assessment is needed . When performing a qualitative assessment for the annual review of goodwill balances for impairment, management must first consider events and circumstances that may affect the fair value of the reporting unit to determine whether it is necessary to perform the quantitative impairment test. Management focuses on the significant inputs and any events or circumstances that could affect the significant inputs, including, but not limited to, financial performance compared with actual and projected results of relevant prior periods, legal, regulatory, contractual, competitive, economic, political, business or other factors, and industry and market considerations, such as a deteriorating operating environment or increased competition. Management evaluates all events and circumstances, including positive or mitigating factors, that could affect the significant inputs used to determine fair value. If management determines that it is not more likely than not that the goodwill of the reporting unit is impaired based upon its qualitative assessment then it does not need to perform the quantitative assessment. When performing a quantitative assessment for the annual review of goodwill balances for impairment, we estimate the fair value of each of our reporting units based on projected future operating results and cash flows, market assumptions and/or comparative market multiple methods. Determining fair value requires significant estimates and assumptions based on an evaluation of a number of factors, such as marketplace participants, relative market share, new student interest, student retention, future expansion or contraction expectations, amount and timing of future cash flows and the discount rate applied to the cash flows. Projected future operating results and cash flows used for valuation purposes do reflect improvements relative to recent historical periods with respect to, among other things, modest revenue growth and operating margins. Although we believe our projected future operating results and cash flows and related estimates regarding fair values are based on reasonable assumptions, historically projected operating results and cash flows have not always been achieved. The failure of one of our reporting units to achieve projected operating results and cash flows in the near term or long term may reduce the estimated fair value of the reporting unit below its carrying value and result in the recognition of a goodwill impairment charge. Significant management judgment is necessary to evaluate the impact of operating and macroeconomic changes and to estimate future cash flows. Assumptions used in our impairment evaluations, such as forecasted growth rates and our cost of capital, are based on the best available market information and are consistent with our internal forecasts and operating plans. In addition to cash flow estimates, our valuations are sensitive to the rate used to discount cash flows and future growth assumptions. Intangible assets include indefinite-lived assets. Indefinite-lived assets include our CTU trade name and accreditation rights, which are recorded at fair market value upon acquisition and subsequently reviewed on an annual basis for impairment. Accreditation rights represent the ability of our institutions to participate in Title IV Programs. Definite-lived intangible assets consist of the Trident, DigitalCrafts and Hippo trade names, customer relationships, course curriculum and developed technology. Customer relationships represent the value of acquired student and third party contracts and are amortized on a straight-line basis over the estimated future benefit period for those contracts. Course curriculum represents the value of acquired curriculum, including lesson plans and syllabi, used to deliver educational services. Acquired course curriculum balances are amortized on a straight-line basis over their useful lives, which are estimated by management based upon, among other things, the expected future utilization period and the nature of the related academic programs. Developed technology represents online auditory and video course program materials related to our non-degree professional development and continuing education offerings and are amortized on a straight-line basis over the expected period of future benefit. See Note 10 “Goodwill and Other Intangible Assets” for further discussion.
Contingencies	i. Contingencies During the ordinary course of business, the Company may be subject to various claims and contingencies. In accordance with FASB ASC Topic 450 – Contingencies
Income Taxes	j. Income Taxes We are subject to the income tax laws of the U.S. and various state and local jurisdictions. These tax laws are complex and subject to interpretation. As a result, significant judgments and interpretations are required in determining our income tax provisions (benefits) and evaluating our uncertain tax positions. We account for income taxes in accordance with FASB ASC Topic 740 – Income Taxes . Topic 740 requires the recognition of deferred income tax assets and liabilities based upon the income tax consequences of temporary differences between financial reporting and income tax reporting by applying enacted statutory income tax rates applicable to future years to differences between the financial statement carrying amounts and the income tax basis of existing assets and liabilities. Topic 740 also requires that deferred income tax assets be reduced by a valuation allowance if it is more likely than not that some portion of the deferred income tax asset will not be realized. In assessing the need for a valuation allowance and/or release of a valuation allowance, we consider both positive and negative evidence related to the likelihood of realization of the deferred tax assets. Topic 740 provides that important factors in determining whether a deferred tax asset will be realized are whether there has been sufficient taxable income in recent years and whether sufficient taxable income is expected in future years in order to use the deferred tax asset. In evaluating the realizability of deferred income tax assets, we consider, among other things, historical levels of taxable income along with possible sources of future taxable income, which include: the expected timing of the reversals of existing temporary reporting differences, the existence of taxable income in prior carryback year(s), the expected impact of tax planning strategies that may be implemented to prevent the potential loss of future income tax benefits, expected future taxable income and earnings history exclusive of the loss that created the future deductible amount, coupled with evidence indicating the loss is not a continuing condition. Changes in, among other things, income tax legislation, statutory income tax rates, or future taxable income levels could materially impact our valuation of income tax assets and liabilities and could cause our income tax provision to vary significantly among financial reporting periods. If, based on the weight of available evidence, it is more likely than not the deferred tax assets will not be realized, we record a valuation allowance, or release all or a portion of the valuation allowance if it is more likely than not the deferred tax assets are expected to be realized. The weight given to the positive and negative evidence is commensurate with the extent to which the evidence may be objectively verified. A high degree of judgment is required to determine if, and the extent to which, valuation allowances should be recorded against deferred tax assets. Topic 740 further clarifies the accounting for uncertainty in income taxes recognized in an entity’s financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in an income tax return. Topic 740 also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.
Leases	k. Leases FASB ASC Topic 842 – Leases (“ROU”) A lease component is defined as an asset within the lease contract that a lessee can benefit from the use of and is not highly dependent or interrelated with other assets in the arrangement. A lease contract may contain multiple lease components. A non-lease component is defined as a component of the lease that transfers a good or service for the underlying asset, such as maintenance services. We have determined that all of our leases contain one lease component related to the building and land. We have determined that treating the land together with the building as one lease component would not result in a significant difference from accounting for them as separate lease components. Additionally, we have elected the practical expedient to include both the lease component and the non-lease component as a single component when accounting for each lease and calculating the resulting lease liability and ROU asset. Any remaining contract consideration, such as property taxes and insurance, that does not meet the definition of a lease component or non-lease component would be allocated to the single lease component based on our election. The lease liability represents future lease payments for lease and non-lease components discounted for present value. Lease payments that may be included in the lease liability include fixed payments, variable lease payments that are based on an index or rate and payments for penalties for terminating the lease if the lessee is reasonably certain to use a termination option, among others. Certain of our leases contain rent escalation clauses that are specifically stated in the lease and these are included in the calculation of the lease liability. Variable lease payments for lease and non-lease components which are not based on an index or rate are excluded from the calculation of the lease liability and are recognized in the statement of income during the period incurred. The ROU asset consists of the amount of the initial measurement of the lease liability and adjusted for any lease incentives, including rent abatements and tenant improvement allowances, and any initial direct costs incurred by the lessee. The ROU asset is amortized over the remaining lease term on a straight-line basis and recorded within educational services and facilities on our consolidated statements of income. The lease term is determined by taking into account the initial period as stated in the lease contract and adjusted for any renewal options that the company is reasonably certain to exercise as well as any period of time that the lessee has control of the space before the stated initial term of the lease. If we determine that we are reasonably certain to exercise a termination option, the lease term is then adjusted to account for the expected termination date. We use discount rates to determine the net present value of our gross lease obligations when calculating the lease liability and related ROU asset. In cases in which the rate implicit in the lease is readily determinable, we use that discount rate for purposes of the net present value calculation. In most cases, our lease agreements do not have a discount rate that is readily determinable and therefore we use an estimate of our incremental borrowing rate. Our incremental borrowing rate is determined at lease commencement or lease modification and represents the rate of interest we would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. See Note 9 “Leases” for further details.
Share-Based Compensation	l. Share-Based Compensation FASB ASC Topic 718 – Compensation-Stock Compensation Our share-based awards are measured at fair value and recognized over the requisite service or performance period. The fair value of each stock option is estimated on the date of grant using the Black-Scholes-Merton option pricing model, based on the market price of the underlying common stock, expected life, expected stock price volatility and expected risk-free interest rate. Expected volatility is computed using a combination of historical volatility for a period equal to the expected term; the risk-free interest rates are based on the U.S. Treasury yield curve, with a remaining term approximately equal to the expected term used in the option pricing model. The fair value of each restricted stock unit award is estimated based on the market price of the underlying common stock on the date of the grant. The fair value of each market-based performance grant is estimated using the Monte Carlo Simulation methodology to assess the grant date fair value. We estimate forfeitures at the time of grant and revise our estimate in subsequent periods if actual forfeitures differ from those estimates. For our performance-based awards, the performance criteria is assessed each reporting period to determine the probability of attainment. See Note 14 “Share-Based Compensation” for further discussion of our share-based compensation plans, the nature of share-based awards issued under the plans and our accounting for share-based awards.
Advertising Costs	m. Advertising and Marketing Costs Advertising and marketing costs are expensed as incurred. Advertising and marketing costs, which are included in general and administrative expense on our consolidated statements of income, were $137.2 million, $143.3 million and $130.9 million, for the years ended December 31, 2021, 2020 and 2019, respectively.

Business Acquisition (Tables)

Business Acquisition (Tables)	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Summary of Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of assets acquired and liabilities assumed as of respective acquisition dates (dollars in thousands): Trident University DigitalCrafts Hippo March 2, 2020 August 2, 2021 September 10, 2021 Assets: Cash $ - $ - $ 93 Student receivables 6,212 1,777 202 Other current assets 912 4 25 Property and equipment 3,932 - 27 Intangible assets subject to amortization Trade name 1,000 740 3,340 Customer relationships 8,000 200 14,100 Course curriculum 1,400 - - Developed technology - 830 1,960 Goodwill 30,956 16,477 27,790 Deferred tax asset 454 - - Other non-current assets 270 - - Total assets acquired $ 53,136 $ 20,028 $ 47,537 Liabilities: Accounts payable and other accrued liabilities $ 2,622 $ 268 $ 315 Deferred revenue 4,749 1,404 3,952 Loan discharge reserve 1,900 - - Other long-term liabilities 46 - - Total liabilities assumed $ 9,317 $ 1,672 $ 4,267 Net assets acquired $ 43,819 $ 18,356 $ 43,270

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Investments	Investments consist of the following as of December 31, 2021 and 2020 (dollars in thousands): December 31, 2021 Gross Unrealized Cost Gain (Loss) Fair Value Short-term investments (available for sale): Municipal bonds $ 5,028 $ - $ (1 ) $ 5,027 Non-governmental debt securities 168,623 27 (184 ) 168,466 Treasury and federal agencies 720 - - 720 Total short-term investments (available for sale) $ 174,371 $ 27 $ (185 ) $ 174,213 December 31, 2020 Gross Unrealized Cost Gain (Loss) Fair Value Short-term investments (available for sale): Municipal bonds $ 139 $ 1 $ - $ 140 Non-governmental debt securities 288,578 331 (176 ) 288,733 Treasury and federal agencies 11,799 6 (2 ) 11,803 Total short-term investments (available for sale) $ 300,516 $ 338 $ (178 ) $ 300,676
Schedule of Available-for-Sale Investments	A schedule of available-for-sale investments segregated by their original stated terms to maturity as of December 31, 2021 and 2020 are as follows (dollars in thousands): Less than one year One to five years Six to ten years Greater than ten years Total Original stated term to maturity of available-for-sale- investments as of December 31, 2021 $ 133,728 $ 40,485 $ - $ - $ 174,213 Original stated term to maturity of available-for-sale- investments as of December 31, 2020 $ 182,959 $ 117,641 $ - $ 76 $ 300,676
Schedule of Maintenance Fee Payment to CCKF	We make periodic operating maintenance payments to CCKF related to proprietary rights that we use in our intelli path ® For the year ended December 31, 2021 $ 1,726 For the year ended December 31, 2020 $ 1,596 For the year ended December 31, 2019 $ 1,418

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenue by Major Source	The following tables disaggregate our revenue by major source for the years ended December 31, 2021, 2020 and 2019 (dollars in thousands): For the Year Ended December 31, 2021 CTU (4) AIUS (5) Corporate and Other (6) Total Tuition, net (1) $ 384,307 $ 269,645 $ - $ 653,952 Technology fees 21,249 11,322 - 32,571 Other miscellaneous fees (2) 1,227 665 - 1,892 Total tuition and fees, net 406,783 281,632 - 688,415 Other revenue (3) 1,766 1,728 1,125 4,619 Total revenue $ 408,549 $ 283,360 $ 1,125 $ 693,034 For the Year Ended December 31, 2020 CTU AIUS Corporate and Other (6) Total Tuition, net $ 381,371 $ 270,430 $ - $ 651,801 Technology fees 20,687 10,122 - 30,809 Other miscellaneous fees (2) 1,283 686 - 1,969 Total tuition and fees, net 403,341 281,238 - 684,579 Other revenue (3) 2,166 123 446 2,735 Total revenue $ 405,507 $ 281,361 $ 446 $ 687,314 For the Year Ended December 31, 2019 CTU AIUS Corporate and Other (6) Total Tuition, net $ 370,318 $ 225,364 $ - $ 595,682 Technology fees 17,844 9,412 - 27,256 Other miscellaneous fees (2) 1,690 428 - 2,118 Total tuition and fees, net 389,852 235,204 - 625,056 Other revenue (3) 2,411 170 67 2,648 Total revenue $ 392,263 $ 235,374 $ 67 $ 627,704 __________________ (1) Tuition includes revenue earned for degree-granting programs as well as revenue earned for non-degree professional development and continuing education offerings related to the DigitalCrafts and Hippo acquisitions from the date of acquisitions. (2) Other miscellaneous fees include student activity fees and graduation fees. (3) Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue. ( 4 ) CTU includes revenue related to the Hippo acquisition commencing on the September 10, 2021 date of acquisition. (5) AIUS includes revenue related to the (i) DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition, and (ii) Trident acquisition commencing on the March 2, 2020 date of acquisition. (6) Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.
Summary of Deferred Revenue Balances Offset with Contract Assets	The amount of deferred revenue balances which are being offset with contract assets balances as of December 31, 2021 and 2020 were as follows (dollars in thousands): As of December 31, 2021 2020 Gross deferred revenue $ 113,719 $ 85,402 Gross contract assets (43,106 ) (50,868 ) Deferred revenue, net $ 70,613 $ 34,534
Changes in Deferred Revenue Balances	Changes in our deferred revenue balances for the years ended December 31, 2021 and 2020 were as follows (dollars in thousands): For the Year Ended December 31, 2021 CTU AIUS Total Gross deferred revenue, January 1, 2021 $ 28,522 $ 56,880 $ 85,402 Business acquisitions, beginning balance 3,952 1,404 5,356 Revenue earned from prior balances (27,857 ) (46,591 ) (74,448 ) Billings during period (1) 439,836 271,053 710,889 Revenue earned for new billings during the period (378,926 ) (235,041 ) (613,967 ) Other adjustments (853 ) 1,340 487 Gross deferred revenue, December 31, 2021 $ 64,674 $ 49,045 $ 113,719 For the Year Ended December 31, 2020 CTU AIUS Total Gross deferred revenue, January 1, 2020 $ 27,845 $ 35,359 $ 63,204 Business acquisition, beginning balance - 13,395 13,395 Revenue earned from prior balances (25,179 ) (40,402 ) (65,581 ) Billings during period (1) 404,930 289,751 694,681 Revenue earned for new billings during the period (378,161 ) (240,836 ) (618,997 ) Other adjustments (913 ) (387 ) (1,300 ) Gross deferred revenue, December 31, 2020 $ 28,522 $ 56,880 $ 85,402 _______________ (1) Billings during period includes adjustments for prior billings.

Student Receivables (Tables)

Student Receivables (Tables)	12 Months Ended
	Dec. 31, 2021
Receivables [Abstract]
Changes in Current and Non-Current Receivables Allowance	We define student receivables as a portfolio segment under ASC Topic 326 – Financial Instruments – Credit Losses. For the year ended December 31, 2021 2020 2019 Balance, beginning of period $ 42,147 $ 31,964 $ 24,836 Provision for credit losses 44,349 47,561 43,470 Amounts written-off (50,514 ) (40,053 ) (38,921 ) Recoveries 3,273 2,675 2,579 Balance, end of period $ 39,255 $ 42,147 $ 31,964

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Schedule of Cost Basis and Estimated Useful Lives of Property and Equipment	The cost basis and estimated useful lives of property and equipment as of December 31, 2021 and 2020 are as follows (dollars in thousands): December 31, 2021 (1) 2020 (1) Life Computer hardware and software $ 45,482 $ 40,587 3 years Leasehold improvements 60,520 56,095 Shorter of Life of Lease or Useful Life Furniture, fixtures and equipment 23,633 23,071 5-10 years Building and improvements 9,163 8,485 15-35 years Library materials 24 24 10 years Vehicles 55 56 5 years Construction in progress 3,189 823 142,066 129,141 Less-accumulated depreciation (113,711 ) (101,380 ) Total property and equipment, net $ 28,355 $ 27,761 ___________________ (1) Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2021 and 2020; therefore, both the cost of the asset and the related accumulated depreciation balances were reduced to zero for these assets.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Quantitative Information and Other Information Related to Leases	Quantitative information related to leases for the years ended December 31, 2021, 2020 and 2019 is presented in the following table (dollars in thousands): For the Year Ended December 31, 2021 2020 2019 Lease expenses (1) Fixed lease expenses - operating $ 11,442 $ 12,379 $ 12,869 Variable lease expenses - operating 3,173 6,389 8,534 Sublease income (1,359 ) (2,347 ) (4,179 ) Total lease expenses $ 13,256 $ 16,421 $ 17,224 Other information Gross operating cash flows for operating leases (2) $ (18,390 ) $ (23,577 ) $ (32,827 ) Operating cash flows from subleases (2) $ 1,430 $ 2,254 $ 4,351 As of December 31, 2021 As of December 31, 2020 As of December 31, 2019 Weighted average remaining lease term (in months) – operating leases 69 70 76 Weighted average discount rate – operating leases 4.9 % 4.9 % 5.1 % _____________ (1) (2) Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs.
Schedule of Future Minimum Lease Payments under Operating Leases Included in Lease Liabilities for Continuing Operations	As of December 31, 2021, future minimum lease payments under operating leases which are included in lease liabilities on our consolidated balance sheet are as follows (dollars in thousands): Operating Leases Total 2022 (1) $ 11,504 2023 8,444 2024 7,580 2025 7,374 2026 and thereafter 17,890 Total $ 52,792 Less: imputed interest 7,843 Present value of future minimum lease payments 44,949 Less: current lease liabilities 9,400 Non-current lease liabilities $ 35,549 _____________ (1) Amounts provided are for liabilities remaining as of December 31, 2021.
Schedule of Future Minimum Sublease Rental Income under Operating Leases for Continuing Operations	As of December 31, 2021, future minimum sublease rental income under operating leases, which will decrease our future minimum lease payments presented above, as follows (dollars in thousands): Operating Subleases Total 2022 (1) $ 685 2023 330 Total $ 1,015 _________________ (1) Sublease receivables remaining as of December 31, 2021

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Reconciliation of Changes in Carrying Value of Goodwill	A reconciliation of the changes in the carrying value of goodwill during the years ended December 31, 2021 and 2020 is as follows (dollars in thousands): As of December 31, 2021 2020 CTU AIUS Total CTU AIUS Total Balance, beginning of year $ 45,938 $ 72,374 $ 118,312 $ 45,938 $ 41,418 $ 87,356 Business acquisitions 27,790 16,477 44,267 - 30,956 30,956 Balance, end of year $ 73,728 $ 88,851 $ 162,579 $ 45,938 $ 72,374 $ 118,312
Schedule of Net Book Value of Intangible Assets Other Than Goodwill	As of December 31, 2021 and 2020, the net book value of intangible assets other than goodwill are as follows (dollars in thousands): December 31, 2021 December 31, 2020 Cost Accumulated Amortization Net Book Value Cost Accumulated Amortization Net Book Value Amortizable intangible assets: Course curriculum (1) $ 1,400 $ (856 ) $ 544 $ 1,400 $ (389 ) $ 1,011 Customer relationships (1) 22,300 (5,588 ) 16,712 8,000 (2,222 ) 5,778 Developed technology (1) 2,790 (278 ) 2,512 - - - Trade names (1) 6,480 (1,940 ) 4,540 2,400 (1,567 ) 833 Net book value, amortizable intangible assets: $ 32,970 $ (8,662 ) $ 24,308 $ 11,800 $ (4,178 ) $ 7,622 Non-amortizable intangible assets: Accreditation rights $ 1,000 $ 1,000 CTU trade name 6,900 6,900 Non-amortizable intangible assets 7,900 7,900 Intangible assets, net $ 32,208 $ 15,522 ____________________ (1) See Note 3 “Business Acquisitions” for further details on acquired intangible assets.

Credit Agreement (Tables)

Credit Agreement (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Credit Agreement	Selected details of our credit agreement as of and for the years ended December 31, 2021 and 2020 were as follows (dollars in thousands): As of December 31, 2021 2020 Credit Agreement: Credit facility remaining availability $ 124,082 $ 48,582 Outstanding letters of credit $ 918 $ 1,418 Availability of additional letters of credit (1) $ 124,082 $ 23,582 Weighted average daily revolving credit borrowings for the year ended $ - $ - Weighted average annual interest rate 0.00 % 0.00 % Commitment fee rate 0.30 % 0.30 % Letter of credit fee rate (2) 3.00 % 1.25 % ________________ (1) The letters of credit availability under the credit agreement with Wintrust is up to the borrowing limit of $125.0 million. For the previous credit agreement with BMO Harris Bank N.A., a sublimit of $25.0 million under the credit agreement was part of, not in addition to, the $50.0 million borrowing limit under the credit agreement. (2) The 2021 letter of credit fee rate is based on prime minus 1.0%, subject to a minimum rate of 3.0%. The prime rate as of December 31, 2021 was 3.25%, which would yield a 2.25% fee rate, therefore the minimum rate of 3.0% is reflected in the table above.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes from Continuing Operations	The provision for income taxes from continuing operations for the years ended December 31, 2021, 2020 and 2019 consists of the following (dollars in thousands): For the Year Ended December 31, 2021 2020 2019 Current provision Federal $ 19,143 $ - $ - State and local 4,956 2,110 754 Total current provision 24,099 2,110 754 Deferred provision Federal 13,389 15,425 19,230 State and local 1,942 4,941 2,444 Total deferred provision 15,331 20,366 21,674 Total provision for income taxes $ 39,430 $ 22,476 $ 22,428
Schedule of Reconciliation of the Statutory U.S. Federal Income Tax Rate to Effective Income Tax Rate for Continuing Operations	A reconciliation of the statutory U.S. federal income tax rate to our effective income tax rate for continuing operations for the years ended December 31, 2021, 2020 and 2019 is as follows: For the Year Ended December 31, 2021 2020 2019 Statutory U.S. federal income tax rate 21.0 % 21.0 % 21.0 % State and local income taxes 2.6 2.7 2.7 Stock-based compensation 1.0 (0.3 ) (1.3 ) Capital loss (2.1 ) - - Valuation allowance 2.1 (10.9 ) - State audit settlement - - (0.5 ) Tax credits (0.3 ) (0.1 ) (0.1 ) Other 2.1 2.9 2.3 Effective income tax rate 26.4 % 15.3 % 24.1 %
Schedule of Reconciliation of the Beginning and Ending Amount of Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits as of December 31, 2021, 2020 and 2019 is as follows (dollars in thousands): 2021 2020 2019 Gross unrecognized tax benefits, beginning of the year $ 11,794 $ 9,859 $ 9,009 Additions for tax positions of prior years 941 - - Additions for tax positions related to the current year 4,250 2,954 1,957 Reductions for tax positions of prior years - (51 ) (58 ) Reductions due to lapse of applicable statute of limitations (1,034 ) (968 ) (1,049 ) Subtotal 15,951 11,794 9,859 Interest and penalties 2,020 1,919 1,901 Total gross unrecognized tax benefits, end of the year $ 17,971 $ 13,713 $ 11,760
Schedule of Components of Deferred Income Tax Assets and Liabilities for Continuing Operation	Components of deferred income tax assets and liabilities for continuing operations as of December 31, 2021 and 2020 are as follows (dollars in thousands): December 31, 2021 2020 Deferred income tax assets: Accrued occupancy $ 11,012 $ 13,028 Foreign tax credits 16,958 27,321 Valuation allowance foreign tax credits (16,958 ) (16,958 ) Compensation and employee benefits 6,371 7,054 Tax net operating loss carry forwards 17,832 19,183 Valuation allowance (12,090 ) (12,069 ) Allowance for doubtful accounts 5,721 5,363 Accrued settlements and legal 199 203 Accrued restructuring and severance 343 353 Equity method for investments 401 406 General business tax credits - 1,620 Capital loss 3,130 - Capital loss valuation allowance (3,130 ) - Amortization 3,486 5,656 Depreciation 851 - Other 1,587 1,388 Total deferred income tax assets 35,713 52,548 Deferred income tax liabilities: Depreciation - 111 Right of use asset, net 9,244 10,611 Other 1,355 1,475 Total deferred income tax liabilities 10,599 12,197 Net deferred income tax assets $ 25,114 $ 40,351

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule of Information with Respect to Outstanding and Exercisable Stock Options	The following table summarizes information with respect to all outstanding and exercisable stock options under all of our plans as of December 31, 2021: Options Outstanding Options Exercisable Number of Options Outstanding Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Number Exercisable Weighted Average Exercise Price 64,000 $ 2.82 1.36 64,000 $ 2.82 106,656 $ 3.93 3.38 106,656 $ 3.93 108,922 $ 4.60 3.80 108,922 $ 4.60 23,704 $ 5.90 3.18 23,704 $ 5.90 105,645 $ 5.96 4.39 105,645 $ 5.96 73,308 $ 6.60 0.94 73,308 $ 6.60 105,533 $ 8.30 5.18 105,533 $ 8.30 72,794 $ 9.94 5.42 72,794 $ 9.94 236,452 $ 13.80 6.18 171,061 $ 13.80 98,077 $ 17.91 6.92 98,077 $ 17.91 995,091 $ 9.02 4.57 929,700 $ 8.68
Summary of Total Stock Based Compensation Expense	Stock-Based Compensation Expense. Total stock-based compensation expense for the years ended December 31, 2021, 2020 and 2019 for all types of awards was as follows (dollars in thousands): December 31, Award Type 2021 2020 2019 Stock options $ 464 $ 1,134 $ 1,690 Restricted stock units settled in stock 14,495 12,227 7,569 Restricted stock units settled in cash - (240 ) 2,301 Total stock-based compensation expense $ 14,959 $ 13,121 $ 11,560
Schedule of Fair Value of Stock Option Award Granted Estimated on Date of Grant Using the Black-Scholes-Merton Option Pricing Model	The weighted average fair value per share of stock option awards granted during the year ended December 31, 2019 and assumptions used to value stock options are as follows: For the Year Ended December 31, 2021 (1) 2020 (1) 2019 Dividend yield NA NA - Risk-free interest rate NA NA 1.6 % Weighted average volatility NA NA 62.6 % Expected life (in years) NA NA 8.0 Weighted average grant date fair value per share of options granted NA NA $ 13.78 (1) There were no stock options awarded during the years ended December 31, 2021 and 2020.
Restricted Stock Units [Member]
Schedule of Information with Respect to all Outstanding Restricted Stock	The following table summarizes information with respect to all outstanding restricted stock units to be settled in shares of stock under our plans during the years ended December 31, 2021, 2020 and 2019: Restricted Stock to be Settled in Shares of Stock Units Weighted Average Grant-Date Fair Value Per Unit Outstanding as of December 31, 2018 2,017,477 $ 12.70 Granted 427,488 21.31 Vested (500,818 ) 6.14 Forfeited (22,955 ) 11.42 Outstanding as of December 31, 2019 1,921,192 $ 16.34 Granted 534,471 15.45 Vested (242,515 ) 11.02 Forfeited (67,098 ) 17.18 Outstanding as of December 31, 2020 2,146,050 $ 16.70 Granted 723,245 11.87 Vested (1,329,017 ) 16.35 Forfeited (77,085 ) 11.98 Outstanding as of December 31, 2021 1,463,193 $ 14.87
Employee Stock Option [Member]
Summary of Stock Option Activity	Stock option activity during the years ended December 31, 2021, 2020 and 2019 under our plans was as follows: Options Weighted Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic (in thousands) Outstanding as of December 31, 2018 2,818,433 $ 9.59 Granted 41,958 21.29 Exercised (258,621 ) 5.76 $ 2,902 Forfeited (8,017 ) 15.39 Cancelled (156,144 ) 22.99 Outstanding as of December 31, 2019 2,437,609 $ 9.32 Granted - - Exercised (1,040,304 ) 5.18 $ 7,615 Forfeited (8,719 ) 11.79 Cancelled (161,512 ) 30.25 Outstanding as of December 31, 2020 1,227,074 $ 10.07 Granted - - Exercised (103,407 ) 5.31 $ 725 Forfeited - - Cancelled (128,576 ) 22.01 Outstanding as of December 31, 2021 995,091 $ 9.02 4.57 $ 3,823 Exercisable as of December 31, 2021 929,700 $ 8.68 4.46 $ 3,823

Weighted Average Common Shares

Weighted Average Common Shares (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Summary of Weighted Average Numbers of Common Shares Used to Compute Basic and Diluted Net (Loss) Income Per Share	The weighted average number of common shares used to compute basic and diluted net income per share for the years ended December 31, 2021, 2020 and 2019 were as follows: For the Year Ended December 31, 2021 2020 2019 Basic common shares outstanding 70,024 69,414 70,088 Common stock equivalents 857 1,851 1,997 Diluted common shares outstanding 70,881 71,265 72,085

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Summary Financial Information by Reporting Segment	Summary financial information by reporting segment is as follows (dollars in thousands): Revenue Operating Income (Loss) Depreciation and Amortization Capital Expenditures Total Assets (1) For the Year Ended December 31, 2021 CTU (2) $ 408,549 $ 148,481 $ 7,365 $ 2,949 $ 153,072 AIUS (3) 283,360 39,130 9,068 1,666 151,407 Corporate and Other (4) 1,125 (38,595 ) 333 5,838 542,954 Total $ 693,034 $ 149,016 $ 16,766 $ 10,453 $ 847,433 For the Year Ended December 31, 2020 CTU $ 405,507 $ 138,490 $ 6,165 $ 110 $ 96,922 AIUS (3) 281,361 30,822 8,301 1,224 141,602 Corporate and Other (4) 446 (26,378 ) 320 8,434 482,993 Total $ 687,314 $ 142,934 $ 14,786 $ 9,768 $ 721,517 For the Year Ended December 31, 2019 CTU (5) $ 392,263 $ 108,602 $ 5,397 $ 580 AIUS (6) 235,374 16,413 3,388 411 Corporate and Other (4) (7) 67 (38,553 ) 360 4,183 Total $ 627,704 $ 86,462 $ 9,145 $ 5,174 __________________ (1) Total assets are presented on a consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries. (2) CTU results of operations and total assets include the Hippo acquisition commencing on the September 10, 2021 date of acquisition and as of December 31, 2021. (3) AIUS results of operations and total assets include the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition and as of December 31, 2021 and the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of December 31, 2021 and 2020. (4) Corporate and Other includes results of operations and total assets for closed campuses. Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue. (5) CTU results of operations include a $18.6 million charge related to the FTC settlement for the year ended December 31, 2019. (6) AIUS results of operations include a $11.4 million charge related to the FTC settlement for the year ended December 31, 2019. ( 7 ) Corporate and Other results of operations include a $7.1 million charge related to the Oregon arbitration matter for closed campuses for the year ended December 31, 2019.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Accounting Policies [Line Items]
Number of reporting segments | Segment	2
Length of academic year	210 days
Advertising costs	$ 137.2	$ 143.3	$ 130.9
CCKF [Member]
Accounting Policies [Line Items]
Percentage of investment in equity affiliate	30.70%
Non controlling interest	$ 3.2
Restricted Cash [Member] | Trident and Hippo [Member]
Accounting Policies [Line Items]
Amount set aside in escrow account	$ 5.2
Cash Receipts [Member] | Credit Concentration Risk [Member] | Higher Education Act [Member]
Accounting Policies [Line Items]
Percentage of cash receipts from Title IV Program funding	81.00%	80.00%	79.00%
Title IV Programs [Member]
Accounting Policies [Line Items]
Student fund portion in cash, and cash equivalents	$ 10.4	$ 10
Maximum [Member]
Accounting Policies [Line Items]
Length of academic terms	84 days
Length of Non-Degree Professional Programs	364 days
Maturity period of cash equivalents including short-term investments	three months
Lease term range, years	10 years
Number of renewal options for extended terms	4 years
Minimum [Member]
Accounting Policies [Line Items]
Number of days past due to write off student receivables	90 days
Length of academic terms	56 days
Length of Non-Degree Professional Programs	112 days
Lease term range, years	5 years
Number of renewal options for extended terms	1 year
Student Loans [Member] | Maximum [Member] | Current Assets [Member]
Accounting Policies [Line Items]
Student receivables period	1 year
Student Loans [Member] | Minimum [Member] | Non Current Assets [Member]
Accounting Policies [Line Items]
Student receivables period	1 year

Business Acquisition - Addition

Business Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 10, 2021	Aug. 02, 2021	Mar. 02, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill				$ 162,579	$ 118,312	$ 87,356
DigitalCrafts
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 16,300
Working Capital Payment		200
Contingent consideration year of expected payment				2024
Purchase price of the assets		18,356
Fair values of acquired tangible and identifiable intangible assets		20,028
Fair values of assumed liabilities		1,672
Goodwill		16,477
DigitalCrafts | Goodwill
Business Acquisition [Line Items]
Goodwill		16,500
DigitalCrafts | Trade Names
Business Acquisition [Line Items]
Fair value of intangible assets		$ 740
Intangible assets subject to amortization, useful life		5 years
DigitalCrafts | Customer Relationship
Business Acquisition [Line Items]
Fair value of intangible assets		$ 200
Intangible assets subject to amortization, useful life		3 years
DigitalCrafts | Developed Technology Rights
Business Acquisition [Line Items]
Fair value of intangible assets		$ 830
Intangible assets subject to amortization, useful life		3 years
DigitalCrafts | Fair Value
Business Acquisition [Line Items]
Fair values of acquired tangible and identifiable intangible assets		$ 20,000
Fair values of assumed liabilities		1,700
DigitalCrafts | Fair Value | Trade Names
Business Acquisition [Line Items]
Fair value of intangible assets		700
DigitalCrafts | Fair Value | Customer Relationship
Business Acquisition [Line Items]
Fair value of intangible assets		1,000
DigitalCrafts | Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration payment		2,500
Contingent Consideration Fair Value		$ 1,900
Hippo
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 42,000
Contingent consideration year of expected payment				2024
Purchase price of the assets	43,270
Fair values of acquired tangible and identifiable intangible assets	47,537
Fair values of assumed liabilities	4,267
Goodwill	27,790
Hippo | Goodwill
Business Acquisition [Line Items]
Goodwill	27,800
Hippo | Trade Names
Business Acquisition [Line Items]
Fair value of intangible assets	$ 3,340
Intangible assets subject to amortization, useful life	10 years
Hippo | Customer Relationship
Business Acquisition [Line Items]
Fair value of intangible assets	$ 14,100
Intangible assets subject to amortization, useful life	7 years
Hippo | Developed Technology Rights
Business Acquisition [Line Items]
Fair value of intangible assets	$ 1,960
Intangible assets subject to amortization, useful life	4 years
Hippo | Fair Value
Business Acquisition [Line Items]
Fair values of acquired tangible and identifiable intangible assets	$ 47,500
Fair values of assumed liabilities	4,300
Hippo | Fair Value | Trade Names
Business Acquisition [Line Items]
Fair value of intangible assets	3,300
Hippo | Fair Value | Customer Relationship
Business Acquisition [Line Items]
Fair value of intangible assets	14,100
Hippo | Fair Value | Developed Technology Rights
Business Acquisition [Line Items]
Fair value of intangible assets	2,000
Hippo | Restricted Cash [Member]
Business Acquisition [Line Items]
Amount set aside in escrow account	1,200
Hippo | Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration payment	4,000
Contingent Consideration Fair Value	$ 1,300
Trident University International
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross					43,800
Purchase price of the assets			$ 43,819
Fair values of acquired tangible and identifiable intangible assets			53,136
Fair values of assumed liabilities			9,317
Goodwill			30,956
Trident University International | Trade Names
Business Acquisition [Line Items]
Fair value of intangible assets			$ 1,000
Finite-Lived Intangible Asset, Useful Life			5 years
Trident University International | Customer Relationship
Business Acquisition [Line Items]
Fair value of intangible assets			$ 8,000
Trident University International | Student Relationships and Course Curriculum [Member]
Business Acquisition [Line Items]
Fair value of intangible assets			$ 9,400
Finite-Lived Intangible Asset, Useful Life			3 years
Trident University International | Restricted Cash [Member]
Business Acquisition [Line Items]
Amount set aside in escrow account					$ 4,000

Business Acquisitions - Summary

Business Acquisitions - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 10, 2021	Aug. 02, 2021	Dec. 31, 2020	Mar. 02, 2020	Dec. 31, 2019
Intangible assets subject to amortization
Goodwill	$ 162,579			$ 118,312		$ 87,356
Trident University International
Assets:
Student receivables					$ 6,212
Other current assets					912
Property and equipment					3,932
Intangible assets subject to amortization
Goodwill					30,956
Deferred tax asset					454
Other non-current assets					270
Total assets acquired					53,136
Liabilities:
Accounts payable and other accrued liabilities					2,622
Deferred revenue					4,749
Loan discharge reserve					1,900
Other long-term liabilities					46
Total liabilities assumed					9,317
Net assets acquired					43,819
DigitalCrafts
Assets:
Student receivables			$ 1,777
Other current assets			4
Intangible assets subject to amortization
Goodwill			16,477
Total assets acquired			20,028
Liabilities:
Accounts payable and other accrued liabilities			268
Deferred revenue			1,404
Total liabilities assumed			1,672
Net assets acquired			18,356
Hippo
Assets:
Cash		$ 93
Student receivables		202
Other current assets		25
Property and equipment		27
Intangible assets subject to amortization
Goodwill		27,790
Total assets acquired		47,537
Liabilities:
Accounts payable and other accrued liabilities		315
Deferred revenue		3,952
Total liabilities assumed		4,267
Net assets acquired		43,270
Trade Names | Trident University International
Intangible assets subject to amortization
Fair value of intangible assets					1,000
Trade Names | DigitalCrafts
Intangible assets subject to amortization
Fair value of intangible assets			740
Trade Names | Hippo
Intangible assets subject to amortization
Fair value of intangible assets		3,340
Customer Relationship | Trident University International
Intangible assets subject to amortization
Fair value of intangible assets					8,000
Customer Relationship | DigitalCrafts
Intangible assets subject to amortization
Fair value of intangible assets			200
Customer Relationship | Hippo
Intangible assets subject to amortization
Fair value of intangible assets		14,100
Course Curriculum | Trident University International
Intangible assets subject to amortization
Fair value of intangible assets					$ 1,400
Developed Technology Rights | DigitalCrafts
Intangible assets subject to amortization
Fair value of intangible assets			$ 830
Developed Technology Rights | Hippo
Intangible assets subject to amortization
Fair value of intangible assets		$ 1,960

Financial Instruments - Summary

Financial Instruments - Summary of Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Total short-term investments (available for sale), Fair value	$ 174,213	$ 300,676
Short-term, Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Total short-term investments (available for sale), Cost	5,028	139
Total short-term investments (available for sale), Gross Unrealized Gain		1
Total short-term investments (available for sale), Gross Unrealized (Loss)	(1)
Total short-term investments (available for sale), Fair value	5,027	140
Short-term, Non-governmental Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Total short-term investments (available for sale), Cost	168,623	288,578
Total short-term investments (available for sale), Gross Unrealized Gain	27	331
Total short-term investments (available for sale), Gross Unrealized (Loss)	(184)	(176)
Total short-term investments (available for sale), Fair value	168,466	288,733
Short-term, Treasury and Federal Agencies [Member]
Schedule of Available-for-sale Securities [Line Items]
Total short-term investments (available for sale), Cost	720	11,799
Total short-term investments (available for sale), Gross Unrealized Gain		6
Total short-term investments (available for sale), Gross Unrealized (Loss)		(2)
Total short-term investments (available for sale), Fair value	720	11,803
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Total short-term investments (available for sale), Cost	174,371	300,516
Total short-term investments (available for sale), Gross Unrealized Gain	27	338
Total short-term investments (available for sale), Gross Unrealized (Loss)	(185)	(178)
Total short-term investments (available for sale), Fair value	$ 174,213	$ 300,676

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial Instruments [Line Items]
Period cash equivalents and short-term investments have been in continuous unrealized gain (loss) position, years, maximum	1 year
Total short-term investments (available for sale), Fair value	$ 174,213	$ 300,676
CCKF [Member]
Financial Instruments [Line Items]
Non controlling interest	$ 3,200
Percentage of investment in equity affiliate	30.70%
Maximum [Member] | CCKF [Member]
Financial Instruments [Line Items]
Gain (loss) from investment in affiliate	$ 200	200	$ 100
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Financial Instruments [Line Items]
Total short-term investments (available for sale), Fair value	$ 225,300	1,700
Certificate Of Deposit Commercial Paper And Treasury Bills [Member] | Level 2 [Member]
Financial Instruments [Line Items]
Total short-term investments (available for sale), Fair value		$ 5,100

Financial Instruments - Schedul

Financial Instruments - Schedule of Available-for-Sale Investments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost And Fair Value Debt Securities [Abstract]
Original stated term to maturity of available-for-sale- investments, Less than one year	$ 133,728	$ 182,959
Original stated term to maturity of available-for-sale- investments, One to five years	40,485	117,641
Original stated term to maturity of available-for-sale- investments, Greater than ten years		76
Original stated term to maturity of available-for-sale- investments, Total	$ 174,213	$ 300,676

Financial Instruments - Sched_2

Financial Instruments - Schedule of Maintenance Fee Payment to CCKF (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transactions [Abstract]
Maintenance Fee Payments	$ 1,726	$ 1,596	$ 1,418

Revenue Recognition - Summary o

Revenue Recognition - Summary of Disaggregation of Revenue by Major Source (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue		$ 693,034		$ 687,314		$ 627,704
Tuition, Net [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		653,952	[1]	651,801		595,682
Technology Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		32,571		30,809		27,256
Other Miscellaneous Fees [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[2]	1,892		1,969		2,118
Tuition and Fees, Net [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		688,415		684,579		625,056
Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[3]	4,619		2,735		2,648
University Group [Member] | CTU [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		408,549	[4],[5]	405,507		392,263	[6]
University Group [Member] | AIUS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		283,360	[7],[8]	281,361	[8]	235,374	[9]
University Group [Member] | Tuition, Net [Member] | CTU [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		384,307	[1],[4]	381,371		370,318
University Group [Member] | Tuition, Net [Member] | AIUS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		269,645	[1],[7]	270,430		225,364
University Group [Member] | Technology Fees [Member] | CTU [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		21,249	[4]	20,687		17,844
University Group [Member] | Technology Fees [Member] | AIUS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		11,322	[7]	10,122		9,412
University Group [Member] | Other Miscellaneous Fees [Member] | CTU [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[2]	1,227	[4]	1,283		1,690
University Group [Member] | Other Miscellaneous Fees [Member] | AIUS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[2]	665	[7]	686		428
University Group [Member] | Tuition and Fees, Net [Member] | CTU [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		406,783	[4]	403,341		389,852
University Group [Member] | Tuition and Fees, Net [Member] | AIUS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue		281,632	[7]	281,238		235,204
University Group [Member] | Other [Member] | CTU [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[3]	1,766	[4]	2,166		2,411
University Group [Member] | Other [Member] | AIUS [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[3]	1,728	[7]	123		170
Corporate and Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[11]	1,125	[10]	446		67	[10],[12]
Corporate and Other [Member] | Other [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	[3],[11]	$ 1,125		$ 446		$ 67
[1]	Tuition includes revenue earned for degree-granting programs as well as revenue earned for non-degree professional development and continuing education offerings related to the DigitalCrafts and Hippo acquisitions from the date of acquisitions.
[2]	Other miscellaneous fees include student activity fees and graduation fees.
[3]	Other revenue primarily includes contract training revenue and miscellaneous non-student related revenue.
[4]	CTU includes revenue related to the Hippo acquisition commencing on the September 10, 2021 date of acquisition.
[5]	CTU results of operations and total assets include the Hippo acquisition commencing on the September 10, 2021 date of acquisition and as of December 31, 2021.
[6]	CTU results of operations include a $18.6 million charge related to the FTC settlement for the year ended December 31, 2019.
[7]	AIUS includes revenue related to the (i) DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition, and (ii) Trident acquisition commencing on the March 2, 2020 date of acquisition.
[8]	AIUS results of operations and total assets include the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition and as of December 31, 2021 and the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of December 31, 2021 and 2020.
[9]	AIUS results of operations include a $11.4 million charge related to the FTC settlement for the year ended December 31, 2019.
[10]	Corporate and Other includes results of operations and total assets for closed campuses. Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.
[11]	Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.
[12]	Corporate and Other results of operations include a $7.1 million charge related to the Oregon arbitration matter for closed campuses for the year ended December 31, 2019.

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Portfolio	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Revenue Recognition [Line Items]
Length of academic year	210 days
Revenue recognized estimated reserve based on historical evidence	$ 2.1	$ 2.3
ASC Topic 606 [Member]
Revenue Recognition [Line Items]
Revenue recognized for payments received from withdrawn students	$ 1.6	$ 1.1	$ 1.2
Number of portfolio for revenue recognition | Portfolio	1
Minimum [Member]
Revenue Recognition [Line Items]
Length of academic terms	56 days
Length of Non-Degree Professional Programs	112 days
Minimum [Member] | ASC Topic 606 [Member]
Revenue Recognition [Line Items]
Days required for documentation to be eligible and approved for funding	90 days
Maximum [Member]
Revenue Recognition [Line Items]
Length of academic terms	84 days
Length of Non-Degree Professional Programs	364 days
Maximum [Member] | ASC Topic 606 [Member]
Revenue Recognition [Line Items]
Days required for documentation to be eligible and approved for funding	120 days

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Deferred Revenue Balances Offset with Contract Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenue Recognition [Abstract]
Gross deferred revenue	$ 113,719	$ 85,402	$ 63,204
Gross contract assets	(43,106)	(50,868)
Deferred revenue, net	$ 70,613	$ 34,534

Revenue Recognition - Changes i

Revenue Recognition - Changes in Deferred Revenue Balances (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Deferred Revenue Arrangement [Line Items]
Gross deferred revenue, beginning balance		$ 85,402	$ 63,204
Business acquisitions, beginning balance		5,356	13,395
Revenue earned from prior balances		(74,448)	(65,581)
Billings during period	[1]	710,889	694,681
Revenue earned for new billings during the period		(613,967)	(618,997)
Other adjustments		487	(1,300)
Gross deferred revenue, ending balance		113,719	85,402
University Group [Member] | CTU [Member]
Deferred Revenue Arrangement [Line Items]
Gross deferred revenue, beginning balance		28,522	27,845
Business acquisitions, beginning balance		3,952
Revenue earned from prior balances		(27,857)	(25,179)
Billings during period	[1]	439,836	404,930
Revenue earned for new billings during the period		(378,926)	(378,161)
Other adjustments		(853)	(913)
Gross deferred revenue, ending balance		64,674	28,522
University Group [Member] | AIUS [Member]
Deferred Revenue Arrangement [Line Items]
Gross deferred revenue, beginning balance		56,880	35,359
Business acquisitions, beginning balance		1,404	13,395
Revenue earned from prior balances		(46,591)	(40,402)
Billings during period	[1]	271,053	289,751
Revenue earned for new billings during the period		(235,041)	(240,836)
Other adjustments		1,340	(387)
Gross deferred revenue, ending balance		$ 49,045	$ 56,880
[1]	Billings during period includes adjustments for prior billings.

Student Receivables - Additiona

Student Receivables - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Approximate length of current academic year	210 days
Student receivables, net of allowance for doubtful accounts	$ 1.4	$ 1.3
Minimum [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Student receivables write-off period, days past due	90 days

Student Receivables - Changes i

Student Receivables - Changes in Current and Non-Current Allowance For Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Balance, Beginning of Period	$ 42,147	$ 31,964	$ 24,836
Provision for credit losses	44,349	47,561	43,470
Amounts written-off	(50,514)	(40,053)	(38,921)
Recoveries	3,273	2,675	2,579
Balance, End of Period	$ 39,255	$ 42,147	$ 31,964

Property and Equipment - Schedu

Property and Equipment - Schedule of Cost Basis and Estimated Useful Lives of Property and Equipment (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Computer hardware and software	[1]	$ 45,482	$ 40,587
Leasehold improvements	[1]	60,520	56,095
Furniture, fixtures and equipment	[1]	23,633	23,071
Building and improvements	[1]	9,163	8,485
Library materials	[1]	24	24
Vehicles	[1]	55	56
Construction in progress	[1]	3,189	823
Property plant and equipment, Total	[1]	142,066	129,141
Less-accumulated depreciation	[1]	(113,711)	(101,380)
Total property and equipment, net	[1]	$ 28,355	$ 27,761
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)	[1]	Shorter of Life of Lease or Useful Life
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)	[1]	3 years
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)	[1]	5 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)	[1]	10 years
Building and Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)		15 years
Building and Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)		35 years
Library Materials [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)	[1]	10 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, estimated useful life (in years)	[1]	5 years
[1]	Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2021 and 2020; therefore, both the cost of the asset and the related accumulated depreciation balances were reduced to zero for these assets.

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation expense	$ 12.3	$ 12	$ 9.1

Leases - Additional Information

Leases - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021Lease
Lessee Lease Description [Line Items]
Operating leases expiration date	2032
Number of subleases	1
Sublease expiration date	May 30, 2023
Number of leases related to ongoing operations	12
Minimum [Member]
Lessee Lease Description [Line Items]
Lease term range, years	5 years
Number of renewal options for extended terms	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Lease term range, years	10 years
Number of renewal options for extended terms	4 years

Leases - Schedule of Quantitati

Leases - Schedule of Quantitative Information Related to Leases (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lease expenses
Fixed lease expenses - operating	[1]	$ 11,442	$ 12,379	$ 12,869
Variable lease expenses - operating	[1]	3,173	6,389	8,534
Sublease income	[1]	(1,359)	(2,347)	(4,179)
Total lease expenses	[1]	13,256	16,421	17,224
Other information
Gross operating cash flows for operating leases	[2]	(18,390)	(23,577)	(32,827)
Operating cash flows from subleases	[2]	$ 1,430	$ 2,254	$ 4,351
Weighted average remaining lease term (in months) – operating leases		69 months	70 months	76 months
Weighted average discount rate – operating leases		4.90%	4.90%	5.10%
[1]	Lease expense and sublease income represent the amount recorded within our consolidated statements of income. Variable lease amounts represent expenses recognized as incurred which are not included in the lease liability. Fixed lease expenses and sublease income are recorded on a straight-line basis over the lease term and therefore are not necessarily representative of cash payments during the same period
[2]	Cash flows are presented on a consolidated basis and represent cash payments for fixed and variable lease costs

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments under Operating Leases Included in Lease Liabilities for Continuing Operations (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Lessee Lease Description [Line Items]
Less: current lease liabilities		$ 9,400	$ 9,789
Non-current lease liabilities		35,549	$ 43,405
Continuing Operation [Member]
Lessee Lease Description [Line Items]
Operating Leases, 2022	[1]	11,504
Operating Leases, 2023		8,444
Operating Leases, 2024		7,580
Operating Leases, 2025		7,374
Operating Leases, 2026 and thereafter		17,890
Operating Leases, Total		52,792
Less: imputed interest		7,843
Present value of future minimum lease payments		44,949
Less: current lease liabilities		9,400
Non-current lease liabilities		$ 35,549
[1]	Amounts provided are for liabilities remaining as of December 31, 2021

Leases - Schedule of Future M_2

Leases - Schedule of Future Minimum Sublease Rental Income under Operating Leases for Continuing Operations (Detail) $ in Thousands	Dec. 31, 2021USD ($)
Leases [Abstract]
Operating Subleases, 2022	$ 685	[1]
Operating Subleases, 2023	330
Operating Subleases, Total	$ 1,015
[1]	Sublease receivables remaining as of December 31, 2021

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets [Line Items]
Carrying values of goodwill	$ 162,579,000	$ 118,312,000	$ 87,356,000
Amortization expense from continuing operations	$ 4,500,000	$ 2,800,000	$ 0
Minimum [Member]
Goodwill And Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Maximum [Member]
Goodwill And Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Reconciliation of Changes in Carrying Value of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets [Line Items]
Balance, Beginning of year	$ 118,312	$ 87,356
Business acquisitions	44,267	30,956
Balance, End of year	162,579	118,312
CTU [Member]
Goodwill And Intangible Assets [Line Items]
Balance, Beginning of year	45,938	45,938
Business acquisitions	27,790
Balance, End of year	73,728	45,938
AIUS [Member]
Goodwill And Intangible Assets [Line Items]
Balance, Beginning of year	72,374	41,418
Business acquisitions	16,477	30,956
Balance, End of year	$ 88,851	$ 72,374

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Net Book Value of Intangible Assets Other Than Goodwill (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Intangible Assets Net Excluding Goodwill [Line Items]
Cost		$ 32,970	$ 11,800
Accumulated Amortization		(8,662)	(4,178)
Net Book Value of Amortizable intangible assets, net		24,308	7,622
Non-amortizable intangible assets		7,900	7,900
Intangible assets, net of amortization of $8,662 and $4,178 as of December 31, 2021 and 2020, respectively		32,208	15,522
Accreditation Rights [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Non-amortizable intangible assets		1,000	1,000
Course Curriculum
Intangible Assets Net Excluding Goodwill [Line Items]
Cost	[1]	1,400	1,400
Accumulated Amortization	[1]	(856)	(389)
Net Book Value of Amortizable intangible assets, net	[1]	544	1,011
CTU Trade Name [Member]
Intangible Assets Net Excluding Goodwill [Line Items]
Non-amortizable intangible assets		6,900	6,900
Customer Relationship
Intangible Assets Net Excluding Goodwill [Line Items]
Cost	[1]	22,300	8,000
Accumulated Amortization	[1]	(5,588)	(2,222)
Net Book Value of Amortizable intangible assets, net	[1]	16,712	5,778
Developed Technology Rights
Intangible Assets Net Excluding Goodwill [Line Items]
Cost	[1]	2,790
Accumulated Amortization	[1]	(278)
Net Book Value of Amortizable intangible assets, net	[1]	2,512
Trade Names
Intangible Assets Net Excluding Goodwill [Line Items]
Cost	[1]	6,480	2,400
Accumulated Amortization	[1]	(1,940)	(1,567)
Net Book Value of Amortizable intangible assets, net	[1]	$ 4,540	$ 833
[1]	See Note 3 “Business Acquisitions” for further details on acquired intangible assets.

Credit Agreement - Additional I

Credit Agreement - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 08, 2021	Dec. 27, 2018
Line Of Credit Facility [Line Items]
Revolving credit facility	$ 125,000,000
Credit Agreement [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, interest rate	0.00%	0.00%
Credit Agreement [Member] | Wintrust Bank [Member]
Line Of Credit Facility [Line Items]
Discount interest rate to prime	1.00%
Credit Agreement [Member] | Wintrust Bank [Member] | Minimum [Member] | Prime [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, interest rate	3.00%
Credit Agreement [Member] | Revolving Credit Facility [Member] | Wintrust Bank [Member]
Line Of Credit Facility [Line Items]
Revolving credit facility			$ 125,000,000
Revolving credit facility maturity date	Sep. 8, 2024
Credit Agreement [Member] | Revolving Credit Facility [Member] | Wintrust Bank [Member] | Maximum [Member]
Line Of Credit Facility [Line Items]
Line of credit facility, increase	$ 50,000,000
Restricted payments covenant	$ 100,000,000
Percentage of unrestricted cash cash equivalents and short term investments	125.00%
Credit Agreement [Member] | Revolving Credit Facility | BMO Harris Bank N.A. ("BMO Harris") [Member]
Line Of Credit Facility [Line Items]
Credit facility borrowings	$ 0	$ 0		$ 50,000,000

Credit Agreement - Schedule of

Credit Agreement - Schedule of Credit Agreement (Detail) - Credit Agreement [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Credit Agreement:
Credit facility remaining availability		$ 124,082	$ 48,582
Outstanding letters of credit		918	1,418
Availability of additional letters of credit	[1]	$ 124,082	$ 23,582
Line of credit facility, interest rate		0.00%	0.00%
Commitment fee rate		0.30%	0.30%
Letter of credit fee rate	[2]	3.00%	1.25%
[1]	The letters of credit availability under the credit agreement with Wintrust is up to the borrowing limit of $125.0 million. For the previous credit agreement with BMO Harris Bank N.A., a sublimit of $25.0 million under the credit agreement was part of, not in addition to, the $50.0 million borrowing limit under the credit agreement.
[2]	The 2021 letter of credit fee rate is based on prime minus 1.0%, subject to a minimum rate of 3.0%. The prime rate as of December 31, 2021 was 3.25%, which would yield a 2.25% fee rate, therefore the minimum rate of 3.0% is reflected in the table above.

Credit Agreement - Schedule o_2

Credit Agreement - Schedule of Credit Agreement (Parenthetical) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Line Of Credit Facility [Line Items]
Letters of credit, borrowing limit under the credit agreement	$ 125,000,000
2021 Letter of Credit [Member]
Line Of Credit Facility [Line Items]
Letter of credit, prime rate	3.25%
Line of credit interest rate	2.25%
Credit Agreement [Member] | Letter of Credit [Member] | BMO Harris Bank N.A. ("BMO Harris") [Member]
Line Of Credit Facility [Line Items]
Letters of credit, borrowing limit under the credit agreement		$ 50,000,000
Credit Agreement [Member] | Letter of Credit Sublimit [Member] | BMO Harris Bank N.A. ("BMO Harris") [Member]
Line Of Credit Facility [Line Items]
Letters of credit, borrowing limit under the credit agreement		$ 25,000,000

Contingencies - Additional Info

Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Contingent Consideration | Digicraft And Hippo Acquisition [Member]
Loss Contingencies [Line Items]
Contingent Consideration Fair Value	$ 3.2
Contingent consideration payment	6.5
Other Accrued Expenses [Member]
Loss Contingencies [Line Items]
Accrual for legal fees and settlements	$ 1.1	$ 1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2021
Income Tax [Line Items]
Pretax income (loss) from continuing operations	$ 149,084,000	$ 146,830,000	$ 93,022,000
Favorable adjustment related to federal and state credits claimed	500,000
Recognition of an excess tax benefit and deficiency	$ 1,600,000	$ 400,000	$ 1,200,000
Effective tax rate favorable adjustment related to federal and state credits claimed	0.30%
Favorable adjustment associated with a capital loss	$ 3,100,000
Effective tax rate favorable adjustment associated with a capital loss	2.10%
Decrease in effective tax rate due to settlement of a state income tax audit, percentage			(0.50%)
Effective income tax rate, deductible amount			$ 29,700,000
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%
Favorable adjustment related to release of valuation allowance		$ 16,000,000
Effective income tax rate reconciliation, tax settlement, foreign, percent		10.90%
Effective tax rate impact associated with stock-based compensation	1.00%	(0.30%)	(1.30%)
Foreign tax credit carryforwards	$ 16,958,000	$ 27,321,000
Unrecognized tax benefits that would impact effective tax rate	14,200,000	10,800,000
Short-term reserves	1,200,000
Long-term reserves	14,800,000
Interest and penalties	$ 2,000,000	1,900,000
Significant change in unrecognized tax benefits, nature of event description	Due to the expiration of various statutes of limitations
Gross unrecognized tax benefits change range, minimum	$ 0
Gross unrecognized tax benefits change range, maximum	1,600,000
Deferred tax asset, gross	179,200,000	194,400,000
Deferred tax liability, gross	44,700,000	51,500,000
Foreign tax credits	17,000,000
General business tax credits		1,620,000
Net deferred income tax assets	32,200,000	29,000,000		$ 29,000,000
Capital loss	3,130,000
Deferred Tax Assets, Net	3,100,000
Wholly
Income Tax [Line Items]
Capital loss	13,200,000
Domestic Country [Member]
Income Tax [Line Items]
General business tax credits	1,800,000
Foreign Country [Member]
Income Tax [Line Items]
Foreign tax credits	10,200,000
State [Member]
Income Tax [Line Items]
Net operating loss carry forwards	291,800,000
Combined State [Member]
Income Tax [Line Items]
Net operating loss carry forwards	16,000,000
Separate State [Member]
Income Tax [Line Items]
Net operating loss carry forwards	180,500,000
Maximum [Member]
Income Tax [Line Items]
Unrecognized tax benefit, income tax penalties and interest benefit (expense) recognized	$ (100,000)	$ (100,000)	$ 100,000
Maximum [Member] | Foreign Country [Member]
Income Tax [Line Items]
Foreign tax credits, expiration year	2023
Maximum [Member] | State [Member]
Income Tax [Line Items]
Net operating loss carry forwards, expiration year	2037
Minimum [Member] | Foreign Country [Member]
Income Tax [Line Items]
Foreign tax credits, expiration year	2022
Minimum [Member] | State [Member]
Income Tax [Line Items]
Net operating loss carry forwards, expiration year	2022
Capital Loss Carryforward
Income Tax [Line Items]
Deferred tax assets, valuation allowance	$ 3,100,000
Effective income tax rate reconciliation, tax settlement, percent	2.10%
Florida [Member]
Income Tax [Line Items]
Net benefit associated with results of state income tax audit			$ 500,000
Decrease in effective tax rate due to settlement of a state income tax audit, percentage			0.50%

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Federal	$ 19,143
State and local	4,956	$ 2,110	$ 754
Total current provision	24,099	2,110	754
Federal	13,389	15,425	19,230
State and local	1,942	4,941	2,444
Total deferred provision	15,331	20,366	21,674
Total provision for income taxes	$ 39,430	$ 22,476	$ 22,428

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Statutory U.S. Federal Income Tax Rate to Effective Income Tax Rate for Continuing Operations (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation [Abstract]
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%
State and local income taxes	2.60%	2.70%	2.70%
Stock-based compensation	1.00%	(0.30%)	(1.30%)
Capital loss	(2.10%)
Valuation allowance	2.10%	(10.90%)
State audit settlement			(0.50%)
Tax credits	(0.30%)	(0.10%)	(0.10%)
Other	2.10%	2.90%	2.30%
Effective income tax rate	26.40%	15.30%	24.10%

Income Taxes - Schedule of Re_2

Income Taxes - Schedule of Reconciliation of Beginning and Ending Amount of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Gross unrecognized tax benefits, beginning of the year	$ 11,794	$ 9,859	$ 9,009
Additions for tax positions of prior years	941
Additions for tax positions related to the current year	4,250	2,954	1,957
Reductions for tax positions of prior years		(51)	(58)
Reductions due to lapse of applicable statute of limitations	(1,034)	(968)	(1,049)
Subtotal	15,951	11,794	9,859
Interest and penalties	2,020	1,919	1,901
Total gross unrecognized tax benefits, end of the year	$ 17,971	$ 13,713	$ 11,760

Income Taxes - Schedule of Comp

Income Taxes - Schedule of Components of Deferred Income Tax Assets and Liabilities for Continuing Operations (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Accrued occupancy	$ 11,012	$ 13,028
Foreign tax credit carryforwards	16,958	27,321
Valuation allowance foreign tax credits	(16,958)	(16,958)
Compensation and employee benefits	6,371	7,054
Tax net operating loss carry forwards	17,832	19,183
Valuation allowance	(12,090)	(12,069)
Allowance for doubtful accounts	5,721	5,363
Accrued settlements and legal	199	203
Accrued restructuring and severance	343	353
Equity method for investments	401	406
General business tax credits		1,620
Capital loss	3,130
Capital loss valuation allowance	(3,130)
Amortization	3,486	5,656
Depreciation	851
Other	1,587	1,388
Total deferred income tax assets	35,713	52,548
Depreciation		111
Right of use asset, net	9,244	10,611
Other	1,355	1,475
Total deferred income tax liabilities	10,599	12,197
Net deferred income tax assets	$ 25,114	$ 40,351

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issuable upon exercise of outstanding options	995,091	1,227,074	2,437,609	2,818,433
Estimated pretax compensation expense	$ 13
Expiration period in years	4 years
Restricted stock units settled in shares exercisable in percentage	25.00%
Deferred stock units outstanding	73,000
Non-Employee Directors' Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration period in years	10 years
Employee stock options exercisable in percentage	100.00%
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expiration period in years	10 years
Service period in years	4 years
Employee Stock Option [Member] | Share-based Compensation Award, Tranche One [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock awards settled in stock exercisable in percentage	25.00%
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to reduce shares available to grant by upon vesting of restricted stock awards and units	1,463,193	2,146,050	1,921,192	2,017,477
Service period in years	4 years
Performance-based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Service period in years	3 years
2016 Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock subject to awards of stock options or stock appreciation rights payable in shares	1
Common stock subject to any other form of award	1.35
Common stock available for future share-based awards	7,000,000
Shares issuable upon exercise of outstanding options	600,000
Number of shares to reduce shares available to grant by upon vesting of restricted stock awards and units	2,000,000
2008 Incentive Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issuable upon exercise of outstanding options	400,000
Number of shares to reduce shares available to grant by upon vesting of restricted stock awards and units	100,000

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Beginning balance of Outstanding, Options	1,227,074	2,437,609	2,818,433
Granted, Options			41,958
Exercised, Options	(103,407)	(1,040,304)	(258,621)
Forfeited, Options		(8,719)	(8,017)
Cancelled, Options	(128,576)	(161,512)	(156,144)
Ending balance of Outstanding, Options	995,091	1,227,074	2,437,609
Exercisable, Options	929,700
Beginning balance of Outstanding, Weighted Average Exercise Price	$ 10.07	$ 9.32	$ 9.59
Granted, Weighted Average Exercise Price			21.29
Exercised, Weighted Average Exercise Price	5.31	5.18	5.76
Forfeited, Weighted Average Exercise Price		11.79	15.39
Cancelled, Weighted Average Exercise Price	22.01	30.25	22.99
Ending balance of Outstanding, Weighted Average Exercise Price	9.02	$ 10.07	$ 9.32
Exercisable, Weighted Average Exercise Price	$ 8.68
Outstanding, Weighted Average Remaining Contractual Term	4 years 6 months 25 days
Exercisable, Weighted Average Remaining Contractual Term	4 years 5 months 15 days
Exercised, Aggregate Intrinsic Value	$ 725	$ 7,615	$ 2,902
Outstanding, Aggregate Intrinsic Value	3,823
Exercisable, Aggregate Intrinsic Value	$ 3,823

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Information with Respect to Outstanding and Exercisable Stock Options (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	995,091	1,227,074	2,437,609	2,818,433
Options Outstanding, Weighted Average Exercise Price	$ 9.02	$ 10.07	$ 9.32	$ 9.59
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	4 years 6 months 25 days
Options Exercisable, Number Exercisable	929,700
Options Exercisable, Weighted Average Exercise Price	$ 8.68
Range of Exercise Prices $2.82 - $2.82 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	64,000
Options Outstanding, Weighted Average Exercise Price	$ 2.82
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	1 year 4 months 9 days
Options Exercisable, Number Exercisable	64,000
Options Exercisable, Weighted Average Exercise Price	$ 2.82
Range of Exercise Prices $3.93 - $3.93 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	106,656
Options Outstanding, Weighted Average Exercise Price	$ 3.93
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	3 years 4 months 17 days
Options Exercisable, Number Exercisable	106,656
Options Exercisable, Weighted Average Exercise Price	$ 3.93
Range of Exercise Prices $4.49 - $5.00 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	108,922
Options Outstanding, Weighted Average Exercise Price	$ 4.60
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	3 years 9 months 18 days
Options Exercisable, Number Exercisable	108,922
Options Exercisable, Weighted Average Exercise Price	$ 4.60
Range of Exercise Prices $5.90 - $5.90 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	23,704
Options Outstanding, Weighted Average Exercise Price	$ 5.90
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	3 years 2 months 4 days
Options Exercisable, Number Exercisable	23,704
Options Exercisable, Weighted Average Exercise Price	$ 5.90
Range of Exercise Prices $5.96 - $5.96 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	105,645
Options Outstanding, Weighted Average Exercise Price	$ 5.96
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	4 years 4 months 20 days
Options Exercisable, Number Exercisable	105,645
Options Exercisable, Weighted Average Exercise Price	$ 5.96
Range of Exercise Prices $6.51 - $7.22 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	73,308
Options Outstanding, Weighted Average Exercise Price	$ 6.60
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	11 months 8 days
Options Exercisable, Number Exercisable	73,308
Options Exercisable, Weighted Average Exercise Price	$ 6.60
Range of Exercise Prices $8.30 - $8.30 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	105,533
Options Outstanding, Weighted Average Exercise Price	$ 8.30
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	5 years 2 months 4 days
Options Exercisable, Number Exercisable	105,533
Options Exercisable, Weighted Average Exercise Price	$ 8.30
Range of Exercise Prices $9.69 - $13.15 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	72,794
Options Outstanding, Weighted Average Exercise Price	$ 9.94
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	5 years 5 months 1 day
Options Exercisable, Number Exercisable	72,794
Options Exercisable, Weighted Average Exercise Price	$ 9.94
Range of Exercise Prices $13.80 - $13.80 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	236,452
Options Outstanding, Weighted Average Exercise Price	$ 13.80
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	6 years 2 months 4 days
Options Exercisable, Number Exercisable	171,061
Options Exercisable, Weighted Average Exercise Price	$ 13.80
Range of Exercise Prices $15.39 - $21.29 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number of Options Outstanding	98,077
Options Outstanding, Weighted Average Exercise Price	$ 17.91
Options Outstanding, Weighted Average Remaining Contractual Term (in Years)	6 years 11 months 1 day
Options Exercisable, Number Exercisable	98,077
Options Exercisable, Weighted Average Exercise Price	$ 17.91

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Information with Respect to all Outstanding Restricted Stock (Detail) - Restricted Stock Units [Member] - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance of Outstanding, Units	2,146,050	1,921,192	2,017,477
Granted, Units	723,245	534,471	427,488
Vested, Units	(1,329,017)	(242,515)	(500,818)
Forfeited, Units	(77,085)	(67,098)	(22,955)
Ending balance of Outstanding, Units	1,463,193	2,146,050	1,921,192
Beginning balance of Outstanding, Weighted Average Grant-Date Fair Value Per Unit	$ 16.70	$ 16.34	$ 12.70
Granted, Weighted Average Grant-Date Fair Value Per Unit	11.87	15.45	21.31
Vested, Weighted Average Grant-Date Fair Value Per Unit	16.35	11.02	6.14
Forfeited, Weighted Average Grant-Date Fair Value Per Unit	11.98	17.18	11.42
Ending balance of Outstanding, Weighted Average Grant-Date Fair Value Per Unit	$ 14.87	$ 16.70	$ 16.34

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Total Stock Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 14,959	$ 13,121	$ 11,560
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	464	1,134	1,690
Restricted Stock Units Settled in Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 14,495	12,227	7,569
Restricted Stock Units Settled in Cash [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense		$ (240)	$ 2,301

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Fair Value of Stock Option Award Granted Estimated on Date of Grant Using the Black-Scholes-Merton Option Pricing Model (Detail)	12 Months Ended
	Dec. 31, 2019$ / shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	1.60%
Weighted average volatility	62.60%
Expected life (in years)	8 years
Weighted average grant date fair value per share of options granted	$ 13.78

Share-Based Compensation - Sc_4

Share-Based Compensation - Schedule of Fair Value of Stock Option Award Granted Estimated on Date of Grant Using the Black-Scholes-Merton Option Pricing Model (Parenthetical) (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Awarded, Options	0	0

Stock Repurchase Program - Addi

Stock Repurchase Program - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	Jan. 27, 2022	Oct. 19, 2021	Dec. 31, 2021	Dec. 31, 2020	Nov. 04, 2019
Stockholders Equity Note [Abstract]
Stock repurchase authorized amount	$ 50,000,000				$ 50,000,000
Expiration Date		Feb. 28, 2022
Shares repurchased under stock repurchase program			2.3	1.3
Shares repurchased during period			$ 25,300,000	$ 17,900,000
Average price of repurchased stock			$ 10.94	$ 13.53
Available authorized repurchase amount			$ 2,900,000
Expiration Date	Sep. 30, 2023

Weighted Average Common Share_2

Weighted Average Common Shares - Summary of Weighted Average Numbers of Common Shares Used to Compute Basic and Diluted Net Income Per Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Basic common shares outstanding	70,024	69,414	70,088
Common stock equivalents	857	1,851	1,997
Diluted common shares outstanding	70,881	71,265	72,085

Weighted Average Common Share_3

Weighted Average Common Shares - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Option [Member]
Anti-dilutive awards excluded from computations of diluted earnings per share	400,000	500,000	700,000
Common Stock [Member]
Weighted average number of shares issued	27,000	29,000	16,000
Common Stock [Member] | Maximum [Member]
Weighted average number of shares issued	100,000	100,000	100,000

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plan Disclosure [Line Items]
Percentage of amount vested to defined contribution retirement savings plan	100.00%
Description of vesting rights	For employees hired on or after January 1, 2020, the participant is 100% vested in the company’s matching contribution after two years of service. Employees hired before January 1, 2020 are fully vested in the company’s matching contribution
Expense for continuing and discontinued operations under employee benefit plan	$ 3,000,000	$ 3,000,000	$ 2,600,000
Percentage of fair market value of common stock	95.00%
Percentage of salary contribution limited to an employee under employee stock purchase plan	10.00%
Maximum salary of employee allowed to purchase shares under employee stock purchase plan	$ 25,000
Common stock issued under employee stock purchase plan	3,400,000
0-2% Contribution [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of amount contributed to defined contribution retirement savings plan	50.00%	50.00%	50.00%
3-6% Contribution [Member]
Defined Contribution Plan Disclosure [Line Items]
Percentage of amount contributed to defined contribution retirement savings plan	25.00%	25.00%	25.00%
Minimum number of hours worked	1000 hours
Employee Stock Purchase Plan [Member]
Defined Contribution Plan Disclosure [Line Items]
Authorized to grant the common stock under the employee stock purchase plan	4,000,000

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021SegmentUniversity
Segment Reporting Information [Line Items]
Number of reporting segments | Segment	2
CTU [Member]
Segment Reporting Information [Line Items]
Students enrolled expressed as percentage of enrollment	61.00%
CTU [Member] | Fully Online [Member]
Segment Reporting Information [Line Items]
Percentage of enrollment	96.00%
AIUS [Member]
Segment Reporting Information [Line Items]
Students enrolled expressed as percentage of enrollment	39.00%
Number of Universities | University	2
AIUS [Member] | Fully Online [Member]
Segment Reporting Information [Line Items]
Percentage of enrollment	97.00%

Segment Reporting - Summary Fin

Segment Reporting - Summary Financial Information by Reporting Segment (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenue		$ 693,034		$ 687,314		$ 627,704
Operating Income (Loss)		149,016		142,934		86,462
Depreciation and amortization		16,766		14,786		9,145
Capital Expenditures		10,453		9,768		5,174
Total Assets	[1]	847,433		721,517
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenue	[3]	1,125	[2]	446		67	[2],[4]
Operating Income (Loss)		(38,595)	[2]	(26,378)		(38,553)	[2],[4]
Depreciation and amortization		333	[2]	320		360	[2],[4]
Capital Expenditures		5,838	[2]	8,434		4,183	[2],[4]
Total Assets	[1]	542,954	[2]	482,993
CTU [Member] | University Group [Member]
Segment Reporting Information [Line Items]
Revenue		408,549	[5],[6]	405,507		392,263	[7]
Operating Income (Loss)		148,481	[6]	138,490		108,602	[7]
Depreciation and amortization		7,365	[6]	6,165		5,397	[7]
Capital Expenditures		2,949	[6]	110		580	[7]
Total Assets	[1]	153,072	[6]	96,922
AIUS [Member] | University Group [Member]
Segment Reporting Information [Line Items]
Revenue		283,360	[8],[9]	281,361	[9]	235,374	[10]
Operating Income (Loss)		39,130	[9]	30,822	[9]	16,413	[10]
Depreciation and amortization		9,068	[9]	8,301	[9]	3,388	[10]
Capital Expenditures		1,666	[9]	1,224	[9]	$ 411	[10]
Total Assets	[1],[9]	$ 151,407		$ 141,602
[1]	Total assets are presented on a consolidated basis and do not include intercompany receivable or payable activity between institutions and corporate and investments in subsidiaries.
[2]	Corporate and Other includes results of operations and total assets for closed campuses. Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.
[3]	Revenue recorded within Corporate and Other relates to miscellaneous non-student related revenue.
[4]	Corporate and Other results of operations include a $7.1 million charge related to the Oregon arbitration matter for closed campuses for the year ended December 31, 2019.
[5]	CTU includes revenue related to the Hippo acquisition commencing on the September 10, 2021 date of acquisition.
[6]	CTU results of operations and total assets include the Hippo acquisition commencing on the September 10, 2021 date of acquisition and as of December 31, 2021.
[7]	CTU results of operations include a $18.6 million charge related to the FTC settlement for the year ended December 31, 2019.
[8]	AIUS includes revenue related to the (i) DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition, and (ii) Trident acquisition commencing on the March 2, 2020 date of acquisition.
[9]	AIUS results of operations and total assets include the DigitalCrafts acquisition commencing on the August 2, 2021 date of acquisition and as of December 31, 2021 and the Trident acquisition commencing on the March 2, 2020 date of acquisition and as of December 31, 2021 and 2020.
[10]	AIUS results of operations include a $11.4 million charge related to the FTC settlement for the year ended December 31, 2019.

Segment Reporting - Summary F_2

Segment Reporting - Summary Financial Information by Reporting Segment (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CTU [Member]
Segment Reporting Information [Line Items]
Settlement reserve			$ 18.6
AIUS [Member]
Segment Reporting Information [Line Items]
Settlement reserve			11.4
CTU [Member] | Hippo
Segment Reporting Information [Line Items]
Acquisition date	Sep. 10, 2021
AIUS [Member] | DigitalCrafts
Segment Reporting Information [Line Items]
Acquisition date	Aug. 2, 2021
AIUS [Member] | Trident University International
Segment Reporting Information [Line Items]
Acquisition date	Mar. 2, 2020	Mar. 2, 2020
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Significant legal settlements charge			$ 7.1

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Valuation Allowance for Deferred Tax Assets [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Valuation allowance, Beginning balance	[1]	$ 29,027	$ 44,999	$ 48,037
Valuation allowance, Additions/Charges to Expense	[1]	3,151	68
Valuation allowance, Deductions/ Other	[1]		(16,040)	(3,038)
Valuation allowance, Ending balance	[1]	32,178	29,027	44,999
Valuation Allowance for Credit Losses [Member]
Valuation And Qualifying Accounts Disclosure [Line Items]
Valuation allowance, Beginning balance		42,147	31,964	24,836
Valuation allowance, Additions/Charges to Expense		44,349	47,561	43,470
Valuation allowance, Deductions/ Other		(47,241)	(37,378)	(36,342)
Valuation allowance, Ending balance		$ 39,255	$ 42,147	$ 31,964
[1]	Amounts include both continuing and discontinued operations gross deferred tax balances.