| Other Significant Balance Sheet Accounts | Other Significant Balance Sheet Accounts Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): As of As of Prepaid expenses $ 3,268 $ 3,027 Prepaid licenses 3,036 1,371 Prepaid income taxes 33 48 Income tax receivable — 1,644 Prepaid insurance 1,707 1,127 Insurance recoverable 360 404 Other current assets (1) 4,827 4,996 Total prepaid expenses and other current assets $ 13,231 $ 12,617 (1) Other current assets includes payment of net asset adjustment due from Global Campus related to the Sale Transaction. Property and Equipment, Net Property and equipment, net, consisted of the following (in thousands): As of As of Furniture and office equipment $ 23,511 $ 36,146 Software 5,509 7,512 Leasehold improvements 16,772 16,325 Vehicles 22 22 Total property and equipment 45,814 60,005 Less accumulated depreciation and amortization (17,199) (29,430) Total property and equipment, net $ 28,615 $ 30,575 For the three months ended June 30, 2021 and 2020, depreciation and amortization expense related to property and equipment was $1.3 million and $1.6 million, respectively. For the six months ended June 30, 2021 and 2020, depreciation and amortization expense related to property and equipment was $2.6 million and $3.2 million, respectively. Goodwill and Intangibles, Net Goodwill and intangibles, net, consisted of the following (in thousands): June 30, 2021 Definite-lived intangible assets: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Capitalized curriculum costs $ 13,858 $ (12,764) $ 1,094 Purchased intangible assets 14,185 (8,022) 6,163 Total definite-lived intangible assets $ 28,043 $ (20,786) $ 7,257 Goodwill 23,176 Total goodwill and intangibles, net $ 30,433 December 31, 2020 Definite-lived intangible assets: Gross Carrying Amount Accumulated Amortization Net Carrying Amount Capitalized curriculum costs $ 13,745 $ (12,644) $ 1,101 Purchased intangible assets 14,185 (6,677) 7,508 Total definite-lived intangible assets $ 27,930 $ (19,321) $ 8,609 Goodwill 23,176 Total goodwill and intangibles, net $ 31,785 For the three months ended June 30, 2021 and 2020, amortization expense was $0.7 million and $1.3 million, respectively. For the six months ended June 30, 2021 and 2020, amortization expense was $1.7 million and $2.7 million, respectively. The following table summarizes the estimated remaining amortization expense as of each fiscal year ended below (in thousands): Year Ended December 31, Remainder of 2021 $ 1,319 2022 2,459 2023 2,303 2024 721 2025 117 Thereafter 338 Total future amortization expense $ 7,257 Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities consisted of the following (in thousands): As of As of Accounts payable $ 10,583 $ 11,246 Accrued salaries and wages 7,098 6,149 Accrued bonus 1,661 11,428 Accrued vacation 3,600 3,369 Accrued litigation and fees 8,341 8,341 Minimum residual liability 608 1,216 Accrued expenses 13,395 12,473 Current leases payable 4,847 6,934 Accrued insurance liability 1,297 1,537 Accrued income taxes payable 9 — Total accounts payable and accrued liabilities $ 51,439 $ 62,693 Other Long-Term Liabilities Other long-term liabilities consisted of the following (in thousands): As of As of Uncertain tax positions $ 28 $ 28 Notes payable 2,847 2,981 Other long-term liabilities 5,368 4,172 Total other long-term liabilities $ 8,243 $ 7,181 |
