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As of June 30, 2015 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | ||||||||||||
Tax-exempt municipal securities | $ | 66,341 | $ | 16 | $ | (60 | ) | $ | 66,297 | ||||||
Corporate debt securities | 7,372 | 4 | (3 | ) | 7,373 | ||||||||||
Total | $ | 73,713 | $ | 20 | $ | (63 | ) | $ | 73,670 | ||||||
As of December 31, 2014 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | ||||||||||||
Tax-exempt municipal securities | $ | 65,708 | $ | 31 | $ | (71 | ) | $ | 65,668 | ||||||
Corporate debt securities | 7,379 | 4 | (2 | ) | 7,381 | ||||||||||
Total | $ | 73,087 | $ | 35 | $ | (73 | ) | $ | 73,049 |
As of June 30, 2015 | As of December 31, 2014 | ||||||
Due within one year | $ | 27,661 | $ | 29,619 | |||
Due after one year through five years | 46,009 | 43,430 | |||||
Total | $ | 73,670 | $ | 73,049 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Maturities of marketable securities | $ | 9,505 | $ | 4,175 | $ | 16,485 | $ | 6,975 | |||||||
Total | $ | 9,505 | $ | 4,175 | $ | 16,485 | $ | 6,975 |
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Fair Value Measurements as of June 30, 2015 Using | ||||||||||||||||
Description | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 52,745 | $ | 52,745 | $ | — | $ | — | ||||||||
Money market funds | 49,909 | 49,909 | — | — | ||||||||||||
Marketable securities: | ||||||||||||||||
Tax-exempt municipal securities | 66,297 | — | 66,297 | — | ||||||||||||
Corporate debt securities | 7,373 | — | 7,373 | — | ||||||||||||
Total assets at fair value on a recurring basis | $ | 176,324 | $ | 102,654 | $ | 73,670 | $ | — |
Fair Value Measurements as of December 31, 2014 Using | ||||||||||||||||
Description | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 64,004 | $ | 64,004 | $ | — | $ | — | ||||||||
Money market funds | 29,999 | 29,999 | — | — | ||||||||||||
Marketable securities: | ||||||||||||||||
Tax-exempt municipal securities | 65,668 | — | 65,668 | — | ||||||||||||
Corporate debt securities | 7,381 | — | 7,381 | — | ||||||||||||
Total assets at fair value on a recurring basis | $ | 167,052 | $ | 94,003 | $ | 73,049 | $ | — |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Balance, beginning of period | $ | — | $ | 6,629 | $ | — | $ | 6,304 | |||||||
Increase in RDI contingent consideration liability | — | 222 | — | 547 | |||||||||||
Payment of RDI contingent consideration liability | — | (6,851 | ) | — | (6,851 | ) | |||||||||
Balance, end of period | $ | — | $ | — | $ | — | $ | — |
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As of June 30, 2015 | As of December 31, 2014 | ||||||
Accrued compensation and benefits | $ | 11,072 | $ | 7,482 | |||
Accrued instructional | 5,644 | 4,361 | |||||
Accrued vacation | 2,045 | 1,234 | |||||
Accrued invoices | 13,318 | 8,238 | |||||
Other(1) | 3,044 | 2,095 | |||||
Total | $ | 35,123 | $ | 23,410 |
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2015 | $ | 3,114 | |
2016 | 6,172 | ||
2017 | 5,945 | ||
2018 | 4,876 | ||
2019 | — | ||
2020 and thereafter | — | ||
Total | $ | 20,107 |
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Foreign Currency Translation Loss | Unrealized Loss on Marketable Securities | Accumulated Other Comprehensive Loss(1) | |||||||||
Beginning balance, December 31, 2014 | $ | (311 | ) | $ | (24 | ) | $ | (335 | ) | ||
Other comprehensive income (loss) | 71 | (5 | ) | 66 | |||||||
Ending balance, June 30, 2015 | $ | (240 | ) | $ | (29 | ) | $ | (269 | ) |
(1) | Accumulated other comprehensive loss is presented net of tax of $14 thousand and $14 thousand as of June 30, 2015 and December 31, 2014, respectively. |
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As of June 30, 2015 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | ||||||||||||
Tax-exempt municipal securities | $ | 66,341 | $ | 16 | $ | (60 | ) | $ | 66,297 | ||||||
Corporate debt securities | 7,372 | 4 | (3 | ) | 7,373 | ||||||||||
Total | $ | 73,713 | $ | 20 | $ | (63 | ) | $ | 73,670 | ||||||
As of December 31, 2014 | |||||||||||||||
Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | ||||||||||||
Tax-exempt municipal securities | $ | 65,708 | $ | 31 | $ | (71 | ) | $ | 65,668 | ||||||
Corporate debt securities | 7,379 | 4 | (2 | ) | 7,381 | ||||||||||
Total | $ | 73,087 | $ | 35 | $ | (73 | ) | $ | 73,049 |
As of June 30, 2015 | As of December 31, 2014 | ||||||
Due within one year | $ | 27,661 | $ | 29,619 | |||
Due after one year through five years | 46,009 | 43,430 | |||||
Total | $ | 73,670 | $ | 73,049 |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Maturities of marketable securities | $ | 9,505 | $ | 4,175 | $ | 16,485 | $ | 6,975 | |||||||
Total | $ | 9,505 | $ | 4,175 | $ | 16,485 | $ | 6,975 |
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Fair Value Measurements as of June 30, 2015 Using | ||||||||||||||||
Description | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 52,745 | $ | 52,745 | $ | — | $ | — | ||||||||
Money market funds | 49,909 | 49,909 | — | — | ||||||||||||
Marketable securities: | ||||||||||||||||
Tax-exempt municipal securities | 66,297 | — | 66,297 | — | ||||||||||||
Corporate debt securities | 7,373 | — | 7,373 | — | ||||||||||||
Total assets at fair value on a recurring basis | $ | 176,324 | $ | 102,654 | $ | 73,670 | $ | — |
Fair Value Measurements as of December 31, 2014 Using | ||||||||||||||||
Description | Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Assets: | ||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||
Cash | $ | 64,004 | $ | 64,004 | $ | — | $ | — | ||||||||
Money market funds | 29,999 | 29,999 | — | — | ||||||||||||
Marketable securities: | ||||||||||||||||
Tax-exempt municipal securities | 65,668 | — | 65,668 | — | ||||||||||||
Corporate debt securities | 7,381 | — | 7,381 | — | ||||||||||||
Total assets at fair value on a recurring basis | $ | 167,052 | $ | 94,003 | $ | 73,049 | $ | — |
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||
Balance, beginning of period | $ | — | $ | 6,629 | $ | — | $ | 6,304 | |||||||
Increase in RDI contingent consideration liability | — | 222 | — | 547 | |||||||||||
Payment of RDI contingent consideration liability | — | (6,851 | ) | — | (6,851 | ) | |||||||||
Balance, end of period | $ | — | $ | — | $ | — | $ | — |
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As of June 30, 2015 | As of December 31, 2014 | ||||||
Accrued compensation and benefits | $ | 11,072 | $ | 7,482 | |||
Accrued instructional | 5,644 | 4,361 | |||||
Accrued vacation | 2,045 | 1,234 | |||||
Accrued invoices | 13,318 | 8,238 | |||||
Other(1) | 3,044 | 2,095 | |||||
Total | $ | 35,123 | $ | 23,410 |
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2015 | $ | 3,114 | |
2016 | 6,172 | ||
2017 | 5,945 | ||
2018 | 4,876 | ||
2019 | — | ||
2020 and thereafter | — | ||
Total | $ | 20,107 |
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Foreign Currency Translation Loss | Unrealized Loss on Marketable Securities | Accumulated Other Comprehensive Loss(1) | |||||||||
Beginning balance, December 31, 2014 | $ | (311 | ) | $ | (24 | ) | $ | (335 | ) | ||
Other comprehensive income (loss) | 71 | (5 | ) | 66 | |||||||
Ending balance, June 30, 2015 | $ | (240 | ) | $ | (29 | ) | $ | (269 | ) |
(1) | Accumulated other comprehensive loss is presented net of tax of $14 thousand and $14 thousand as of June 30, 2015 and December 31, 2014, respectively. |
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