CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
| Net loss |
$ (3,350)
|
$ (56,133)
|
$ (51,286)
|
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
14,506
|
19,338
|
23,701
|
| Amortization of deferred finance costs |
554
|
818
|
474
|
| Deferred income taxes |
0
|
(4,528)
|
26,490
|
| Loss (gain) on disposition of assets |
1,738
|
41
|
(506)
|
| Gain on capital lease termination |
(3,062)
|
0
|
0
|
| Impairment of goodwill and long-lived assets |
216
|
42,958
|
6,194
|
| Fixed asset donation |
(20)
|
(92)
|
(37)
|
| Provision for doubtful accounts |
13,583
|
15,500
|
15,532
|
| Stock-based compensation expense |
1,128
|
2,621
|
2,995
|
| Deferred rent |
(638)
|
(740)
|
(888)
|
| (Increase) decrease in assets, net of acquisition of business: |
|
|
|
| Accounts receivable |
(13,216)
|
(14,470)
|
(15,049)
|
| Inventories |
9
|
372
|
408
|
| Prepaid income taxes and income taxes receivable |
530
|
7,638
|
(1,432)
|
| Prepaid expenses and current assets |
444
|
(986)
|
(106)
|
| Other assets |
(1,460)
|
231
|
(1,177)
|
| Increase (decrease) in liabilities, net of acquisition of business: |
|
|
|
| Accounts payable |
1,004
|
(2,732)
|
1,461
|
| Accrued expenses |
(450)
|
3,806
|
829
|
| Pension plan liabilities |
0
|
(271)
|
(672)
|
| Unearned tuition |
2,627
|
(1,190)
|
(4,453)
|
| Other liabilities |
194
|
(159)
|
768
|
| Total adjustments |
17,687
|
68,155
|
54,532
|
| Net cash provided by operating activities |
14,337
|
12,022
|
3,246
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
| Capital expenditures |
(2,218)
|
(7,472)
|
(6,538)
|
| Proceeds from sale of property and equipment |
451
|
67
|
750
|
| Net cash used in investing activities |
(1,767)
|
(7,405)
|
(5,788)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
| Proceeds from borrowings |
53,500
|
47,500
|
59,500
|
| Payments on borrowings |
(38,847)
|
(72,000)
|
(42,500)
|
| Reclassifications of payments from borrowings to restricted cash |
30,000
|
24,500
|
0
|
| Reclassifications of proceeds from borrowings to restricted cash |
(22,621)
|
0
|
(54,500)
|
| Payment of deferred finance fees |
(2,823)
|
0
|
(863)
|
| Net share settlement for equity-based compensation |
(186)
|
(448)
|
(797)
|
| Dividends paid |
0
|
(4,321)
|
(6,709)
|
| Payments under capital lease obligations |
(5,472)
|
(435)
|
(411)
|
| Net cash provided by (used in) financing activities |
13,551
|
(5,204)
|
(46,280)
|
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
26,121
|
(587)
|
(48,822)
|
| CASH AND CASH EQUIVALENTS-Beginning of year |
12,299
|
12,886
|
61,708
|
| CASH AND CASH EQUIVALENTS-End of year |
38,420
|
12,299
|
12,886
|
| Cash paid during the year for: |
|
|
|
| Interest |
7,159
|
4,597
|
4,209
|
| Income taxes |
89
|
145
|
410
|
| SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
| Liabilities accrued for or noncash purchases of fixed assets |
$ 979
|
$ 1,613
|
$ 93
|