Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2017	Feb. 16, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document type	10-K
Amendment flag	false
Document period end date	Dec. 31, 2017
Document fiscal year focus	2017
Document fiscal period focus	FY
Entity registrant name	BRIGHT HORIZONS FAMILY SOLUTIONS INC.
Entity central index key	0001437578
Current fiscal year end date	--12-31
Entity well-known seasoned issuer	Yes
Entity current reporting status	Yes
Entity voluntary filers	No
Entity filer category	Large Accelerated Filer
Entity common stock, shares outstanding (in shares)		58,566,024
Entity public float			$ 3.9

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 23,227	$ 14,633
Accounts receivable—net	117,138	97,212
Prepaid expenses and other current assets	52,096	42,554
Total current assets	192,461	154,399
Fixed assets—net	575,185	529,432
Goodwill	1,306,792	1,267,705
Other intangibles—net	348,540	374,566
Other assets	45,666	32,915
Total assets	2,468,644	2,359,017
Current liabilities:
Current portion of long-term debt	10,750	10,750
Borrowings on revolving credit facility	127,100	76,000
Accounts payable and accrued expenses	132,897	125,400
Deferred revenue	155,696	146,692
Other current liabilities	34,212	28,738
Total current liabilities	460,655	387,580
Long-term debt—net	1,046,011	1,054,009
Deferred rent and related obligations	66,499	59,518
Other long-term liabilities	64,171	52,048
Deferred revenue	8,179	6,284
Deferred income taxes	74,069	111,711
Total liabilities	1,719,584	1,671,150
Commitments and contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.001 par value; 25,000,000 shares authorized and no shares issued or outstanding at December 31, 2017 and 2016	0	0
Common stock, $0.001 par value; 475,000,000 shares authorized; 58,013,144 and 58,910,282 shares issued and outstanding at December 31, 2017 and 2016, respectively	58	59
Additional paid-in capital	747,155	899,076
Accumulated other comprehensive loss	(33,296)	(89,448)
Retained earnings (accumulated deficit)	35,143	(121,820)
Total stockholders’ equity	749,060	687,867
Total liabilities and stockholders’ equity	$ 2,468,644	$ 2,359,017

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per shares)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	25,000,000	25,000,000
Preferred stock, Issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per shares)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	475,000,000	475,000,000
Common stock, issued (in shares)	58,013,144	58,910,282
Common stock, outstanding (in shares)	58,013,144	58,910,282

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue	$ 1,740,905	$ 1,569,841	$ 1,458,445
Cost of services	1,310,295	1,178,994	1,100,690
Gross profit	430,610	390,847	357,755
Selling, general and administrative expenses	188,939	163,967	148,164
Amortization of intangible assets	32,561	29,642	27,989
Income from operations	3,671	0	0
Income from operations	205,439	197,238	181,602
Loss on extinguishment of debt	0	(11,117)	0
Interest expense—net	(44,039)	(42,924)	(41,446)
Income before income taxes	161,400	143,197	140,156
Income tax expense	(4,437)	(48,437)	(46,229)
Net income	156,963	94,760	93,927
Allocation of net income to common stockholders: Common stock-basic	155,995	93,919	93,287
Allocation of net income to common stockholders: Common stock- diluted	$ 156,016	$ 93,938	$ 93,303
Earnings per common share:
Common stock-basic (in dollars per share)	$ 2.65	$ 1.59	$ 1.53
Common stock-diluted (in dollars per share)	$ 2.59	$ 1.55	$ 1.50
Weighted average number of common shares outstanding:
Common stock-basic (in shares)	58,873,196	59,229,069	60,835,574
Common stock-diluted (in shares)	60,253,691	60,594,895	62,360,778

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 156,963	$ 94,760	$ 93,927
Other comprehensive income (loss):
Foreign currency translation adjustments	53,892	(50,178)	(17,583)
Unrealized gain on interest rate swaps, net of tax	2,260	0	0
Total other comprehensive income (loss)	56,152	(50,178)	(17,583)
Comprehensive income	$ 213,115	$ 44,582	$ 76,344

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Treasury Stock, at Cost	Accumulated Other Comprehensive Loss	Retained Earnings (Accumulated Deficit)
Balance (in shares) at Dec. 31, 2014		61,534,802
Balance at Dec. 31, 2014	$ 750,959,000	$ 62,000	$ 1,083,091,000	$ 0	$ (21,687,000)	$ (310,507,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	9,200,000		9,200,000
Exercise of stock options (in shares)		694,381
Exercise of stock options	9,811,000	$ 0	9,811,000
Excess tax benefits from stock option exercises	9,397,000		9,397,000
Purchase of treasury stock	(128,103,000)			(128,103,000)
Retirement of treasury stock (in shares)		(2,221,047)
Retirement of treasury stock	0	$ (2,000)	(128,101,000)	128,103,000
Translation adjustments	(17,583,000)				(17,583,000)
Unrealized gain on interest rate swaps, net of tax	0
Net income	93,927,000					93,927,000
Balance (in shares) at Dec. 31, 2015		60,008,136
Balance at Dec. 31, 2015	727,608,000	$ 60,000	983,398,000	0	(39,270,000)	(216,580,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	11,646,000		11,646,000
Exercise of stock options (in shares)		761,452
Exercise of stock options	11,679,000	$ 1,000	11,678,000
Excess tax benefits from stock option exercises	12,891,000		12,891,000
Options received in net share settlement of stock options exercises (in shares)		(113,801)
Options received in net share settlement of stock option exercises and vesting of restricted stock	(7,747,000)		(7,747,000)
Purchase of treasury stock	(112,792,000)			(112,792,000)
Retirement of treasury stock (in shares)		(1,745,505)
Retirement of treasury stock	0	$ (2,000)	(112,790,000)	112,792,000
Translation adjustments	(50,178,000)				(50,178,000)
Unrealized gain on interest rate swaps, net of tax	0
Net income	94,760,000					94,760,000
Balance (in shares) at Dec. 31, 2016		58,910,282
Balance at Dec. 31, 2016	687,867,000	$ 59,000	899,076,000	0	(89,448,000)	(121,820,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 12,072,000		12,072,000
Exercise of stock options (in shares)	1,192,160	1,194,160
Exercise of stock options	$ 22,625,000	$ 1,000	22,624,000
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition		$ 287,625	5,374,000
Excess tax benefits from stock option exercises	5,374,000
Options received in net share settlement of stock options exercises (in shares)		(410,508)
Options received in net share settlement of stock option exercises and vesting of restricted stock	(29,798,000)		(29,798,000)
Purchase of treasury stock	(162,195,000)			(162,195,000)
Retirement of treasury stock (in shares)		(1,968,415)
Retirement of treasury stock	0	$ (2,000)	(162,193,000)	162,195,000
Translation adjustments	53,892,000				53,892,000
Unrealized gain on interest rate swaps, net of tax	2,260,000				2,260,000
Net income	156,963,000					156,963,000
Balance (in shares) at Dec. 31, 2017		58,013,144
Balance at Dec. 31, 2017	$ 749,060,000	$ 58,000	$ 747,155,000	$ 0	$ (33,296,000)	$ 35,143,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 156,963	$ 94,760	$ 93,927
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	94,776	85,284	78,666
Loss on extinguishment of debt	0	11,117	0
Amortization of original issue discount and deferred financing costs	1,776	3,474	3,583
Loss on foreign currency transactions and other	1,781	43	232
Loss (gain) on disposal of fixed assets	2,760	(143)	351
Stock-based compensation expense	12,072	11,646	9,200
Deferred income taxes	(37,562)	(12,121)	(758)
Deferred rent	4,345	2,562	2,736
Changes in assets and liabilities:
Accounts receivable	(18,689)	(78)	(13,340)
Prepaid expenses and other current assets	(7,371)	(7,289)	3,825
Income taxes	11,156	12,773	(12,073)
Accounts payable and accrued expenses	5,912	(6,858)	(6,448)
Deferred revenue	9,316	7,750	2,955
Accrued rent and related obligations	1,726	7,517	4,642
Other assets	(8,387)	(319)	(14,296)
Other current and long-term liabilities	5,698	3,179	16,854
Net cash provided by operating activities	236,272	213,297	170,056
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(88,122)	(75,334)	(77,785)
Proceeds from the disposal of fixed assets	4,285	1,234	50
Payments and settlements for acquisitions—net of cash acquired	(21,484)	(228,737)	(77,619)
Net cash used in investing activities	(105,321)	(302,837)	(155,354)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt, net of issuance costs of $9.4 million	0	1,065,610	0
Extinguishment of long-term debt	0	(922,488)	0
Payments of contingent consideration for acquisitions	(185)	(915)	0
Payments of debt issuance costs	(1,711)	(1,002)	0
Borrowings under revolving credit facility	643,201	445,868	267,300
Payments under revolving credit facility	(592,101)	(393,868)	(243,300)
Principal payments of long-term debt	(8,063)	(7,163)	(9,550)
Taxes paid related to the net share settlement of stock options and restricted stock	29,798	7,747	0
Purchase of treasury stock	(162,195)	(112,792)	(128,103)
Proceeds from issuance of common stock upon exercise of options	22,625	11,679	9,811
Proceeds from issuance of restricted stock	4,363	3,682	3,864
Excess tax benefits from stock-based compensation	0	12,891	9,397
Net cash (used in) provided by financing activities	(123,864)	93,755	(90,581)
Effect of exchange rates on cash and cash equivalents	1,507	(1,121)	(468)
Net increase (decrease) in cash and cash equivalents	8,594	3,094	(76,347)
Cash and cash equivalents—beginning of period	14,633	11,539	87,886
Cash and cash equivalents—end of period	23,227	14,633	11,539
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash payments of interest	44,464	37,090	38,110
Cash payments of income taxes	31,290	34,670	49,819
Fixed asset purchases recorded in accounts payable and accrued expenses	$ 1,500	$ 3,000	$ 2,000

Organization and Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Organization and Significant Accounting Policies

ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Organization — Bright Horizons Family Solutions Inc. (“Bright Horizons” or the “Company”) provides center-based child care and early education, back-up dependent care (for children and elders), tuition reimbursement program management services, college admissions advisory services, and other support services in the United States, the United Kingdom, the Netherlands, Puerto Rico, Canada, and India. The Company provides services designed to help employers and families better address the challenges of work and family life primarily under multi-year contracts with employers who offer child care and other dependent care solutions, as well as other educational advisory services, as part of their employee benefits packages to improve employee engagement.

The Company provides its center-based child care services under two general business models: a cost-plus model, where the Company is paid a fee by an employer client for managing a child care center on a cost-plus basis, and a profit and loss (“P&L”) model, where the Company assumes the financial risk of operating a child care center. The P&L model is further classified into two subcategories: (i) a sponsor model, where Bright Horizons provides child care and early education services on either an exclusive or priority enrollment basis for the employees of a specific employer sponsor; and (ii) a lease/consortium model, where the Company provides child care and early education services to the employees of multiple employers located within a specific real estate development (for example, an office building or office park), as well as to families in the surrounding community. In both the cost-plus and sponsor P&L models, the development of a new child care center, as well as ongoing maintenance and repair, is typically funded by an employer sponsor with whom the Company enters into a multi-year contractual relationship. In addition, employer sponsors typically provide subsidies for the ongoing provision of child care services for their employees. Under each model type, the Company retains responsibility for all aspects of operating the child care and early education center, including the hiring and paying of employees, contracting with vendors, purchasing supplies, and collecting tuition and related accounts receivable.

The Company provides back-up dependent care services through its own centers and through our Back-Up Care Advantage (“BUCA”) program, which offers access to a contracted network of in-home care agencies and center-based providers in locations where the Company does not otherwise have centers with available capacity.

Stock Offerings — On January 30, 2013, the Company completed an initial public offering (the “IPO”) and issued a total of 11.6 million shares of common stock in exchange for $233.3 million, net of offering costs. The Company used the proceeds of the IPO, as well as certain amounts from a 2013 debt refinancing, to repay the principal and accumulated interest under its senior notes outstanding on January 30, 2013. The Company also authorized 25 million shares of undesignated preferred stock for issuance.

Subsequent to the IPO, certain of the Company’s stockholders have sold a total of 47.7 million shares of the Company’s common stock in underwritten secondary offerings (“secondary offerings”), including 8.2 million, 4.1 million, and 9.7 million shares in the years ended December 31, 2017, 2016, and 2015, respectively. The Company did not receive proceeds from the sale of shares in the secondary offerings. The Company incurred $0.5 million, $0.5 million, and $0.6 million in the years ended December 31, 2017, 2016, and 2015, respectively, in offering costs related to the secondary offerings, which are included in selling, general and administrative expenses in the consolidated statement of income. The Company purchased 1.7 million, 1.0 million, and 2.1 million of the shares sold in the secondary offerings in 2017, 2016, and 2015, respectively, from investment funds affiliated with Bain Capital Partners LLC at the same price per share paid by the underwriter to the selling stockholders.

Principles of Consolidation — The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates — The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP” or “U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company’s significant accounting estimates in the preparation of the consolidated financial statements relate to the valuation of goodwill and other intangibles, and income taxes. Actual results may differ from management’s estimates.

Foreign Operations — The functional currency of the Company’s foreign subsidiaries is their local currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for subsidiaries using a functional currency other than the U.S. dollar is included in accumulated other comprehensive income or loss as a separate component of stockholders’ equity.

The Company’s intercompany accounts are denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in accumulated other comprehensive income or loss as a separate component of stockholders’ equity, while gains and losses resulting from the remeasurement of intercompany receivables from those foreign subsidiaries for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statement of income. The Company incurred foreign currency translation losses of $1.7 million during the year ended December 31, 2017, associated with the disposition of the remaining assets in Ireland, which was included in other expenses in the consolidated statement of income. The net gains and losses recorded in the consolidated statements of income for the years ended December 31, 2016 and 2015 were not significant.

Fair Value of Financial Instruments — The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date and applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The Company uses observable inputs where relevant and whenever possible.

Level 1 — Quoted prices are available in active markets for identical investments as of the reporting date.

Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.

Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The carrying value of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and borrowings on the revolving credit facility approximates their fair value because of their short-term nature.

The fair value of the Company's long-term debt is based on current bid prices, which approximates carrying value. As such, the Company's long-term debt was classified as Level 1, as defined under U.S. GAAP. As of December 31, 2017 and 2016, the carrying value and estimated fair value of long-term debt was $1.1 billion.

In 2017, the Company entered into interest rate swap agreements, which were included in other assets on the consolidated balance sheets at fair value. As of December 31, 2017, the fair value of the interest rate swaps were $3.8 million, which were estimated using market-standard valuation models. Such models project future cash flows and discount the future amounts to a present value using market-based observable inputs. Additionally, the fair value of the interest rate swaps included consideration of credit risk. The Company used a potential future exposure model to estimate this credit valuation adjustment (“CVA.”) The inputs to the CVA were largely based on observable market data, with the exception of certain assumptions regarding credit worthiness. As the magnitude of the CVA was not a significant component of the fair value of the interest rate swaps, it was not considered a significant input. The fair value of the interest rate swaps is classified as Level 2, as defined under U.S. GAAP.

During 2017 and 2016, the Company had no transfers of assets or liabilities between any of the above hierarchy levels.

Concentrations of Credit Risk — Financial instruments that potentially expose the Company to concentrations of credit risk consist mainly of cash and cash equivalents and accounts receivable. The Company mitigates its exposure by maintaining its cash and cash equivalents in financial institutions of high credit standing. The Company’s accounts receivable, which are derived primarily from the services it provides, are dispersed across many clients in various industries with no single client accounting for more than 10% of the Company’s net revenue or accounts receivable. The Company believes that no significant credit risk exists at December 31, 2017 and 2016.

Cash and Cash Equivalents — The Company considers all highly liquid investments with maturities, when purchased, of three months or less to be cash equivalents. Cash equivalents consist primarily of institutional money market accounts. There were no cash equivalent investments at December 31, 2017 and 2016.

The Company’s cash management system provides for the funding of the main bank disbursement accounts on a daily basis as checks are presented for payment. Under this system, outstanding checks may be in excess of the cash balances at certain banks, creating book overdrafts. There were $18.0 million and $11.0 million in book overdrafts at December 31, 2017 and 2016, respectively, included in accounts payable on the consolidated balance sheet.

Accounts Receivable — The Company generates accounts receivable from fees charged to parents and employer sponsors and, to a lesser degree, government agencies. The Company monitors collections and payments and maintains a provision for estimated losses based on historical trends, in addition to provisions established for specific collection issues that have been identified. Accounts receivable are stated net of this allowance for doubtful accounts.

Activity in the allowance for doubtful accounts is as follows (in thousands):



	Years ended December 31,
	2017			2016			2015
Beginning balance	$	1,054		$	1,556		$	1,235
Provision	2,537			839			1,322
Write offs and recoveries	(1,162		)	(1,341		)	(1,001		)
Ending balance	$	2,429		$	1,054		$	1,556

Fixed Assets — Property and equipment, including leasehold improvements, are carried at cost less accumulated depreciation or amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The cost and accumulated depreciation of assets sold or otherwise disposed of are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statement of income. Expenditures for maintenance and repairs are expensed as incurred, whereas expenditures for improvements and replacements are capitalized. Depreciation is included in cost of services and selling, general and administrative expenses depending on the nature of the expenditure.

Business Combinations — Business combinations are accounted for under the acquisition method of accounting. Amounts paid for an acquisition are allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition. The accounting for business combinations requires estimates and judgment as to expectations of future cash flows of the acquired business, the allocation of those cash flows to identifiable intangible assets, and in determining the estimated fair value for assets acquired and liabilities assumed. The determination of fair values is based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. If actual results differ from these estimates, the amounts recorded in the financial statements could be impaired.

Acquisition costs are expensed as incurred and recorded in selling, general and administrative expenses; integration costs associated with a business combination are expensed subsequent to the acquisition date; and changes in deferred tax asset valuation allowances and income tax uncertainties after the acquisition date affect income tax expense.

Goodwill and Intangible Assets — Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of the net tangible and identifiable intangible assets acquired. The Company’s intangible assets principally consist of various customer relationships (including both client and parent relationships) and trade names. Goodwill and intangible assets with indefinite lives are not subject to amortization, but are tested annually for impairment or more frequently if there are indicators of impairment. Indefinite lived intangible assets are also subject to an annual evaluation to determine whether events and circumstances continue to support an indefinite useful life.

Goodwill impairment assessments are performed at the reporting unit level, which for Bright Horizons is at the operating segment level. In performing the goodwill impairment test, the Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying value. Qualitative factors may include, but are not limited to, macroeconomic conditions, industry conditions, the competitive environment, changes in the market for the Company’s services, regulatory developments, cost factors, and entity specific factors such as overall financial performance and projected results. If an initial qualitative assessment indicates that it is more likely than not that the carrying value exceeds the fair value of a reporting unit, an additional quantitative evaluation is performed. Alternatively, the Company may elect to proceed directly to the quantitative impairment test. In performing the quantitative analysis, the Company compares the fair value of the reporting unit with its carrying amount, including goodwill. Fair value for each reporting unit is determined by estimating the present value of expected future cash flows, which are forecasted for each of the next ten years, applying a long-term growth rate to the final year, discounted using the Company’s estimated discount rate. If the fair value of the Company’s reporting unit exceeds its carrying amount, the goodwill of the reporting unit is considered not impaired. If the carrying amount of the Company’s reporting unit exceeds its fair value, the Company would recognize an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value, up to the amount of goodwill allocated to that reporting unit. The Company performed a qualitative assessment during the annual impairment review as of October 1, 2017 and concluded that it is not more likely than not that the fair value of the Company’s reporting units are less than their carrying amount. Therefore, no goodwill impairment charges were recorded in the years ended December 31, 2017, 2016, or 2015.

We test certain trademarks that are determined to be indefinite-lived intangible assets by comparing the fair value of the trademarks with their carrying value. We estimate the fair value first by estimating the total revenue attributable to the trademarks and then by applying a royalty rate determined by an analysis of empirical, market-derived royalty rates for guideline intangible assets, consistent with the initial valuation of the intangibles. No impairment losses were recorded in the years ended December 31, 2017, 2016 or 2015 in relation to intangible assets.

Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and are amortized over the estimated period benefited, ranging from one to seventeen years. Intangible assets related to parent relationships are amortized using an accelerated method over their useful lives. All other intangible assets are amortized on a straight-line basis over their useful lives.

Impairment of Long-Lived Assets — The Company reviews long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is assessed by comparing the carrying amount of the asset to the estimated undiscounted future cash flows over the asset’s remaining life. If the estimated cash flows are less than the carrying amount of the asset, an impairment loss is recognized to reduce the carrying amount of the asset to its estimated fair value less any disposal costs. The Company recorded fixed asset impairment losses of $0.2 million in the year ended December 31, 2017 and less than $0.1 million in the years ended December 31, 2016 and 2015, which have been included in cost of services in the consolidated statement of income.

Other Long-Term Assets — Other long-term assets includes a deposit of $8.0 million in the Company's wholly-owned captive insurance entity and a cost basis investment of $2.1 million in a private company, which we review for impairment whenever events or changes in circumstances indicate that the carrying amount of such asset may not be recoverable.

Deferred Revenue — The Company records deferred revenue for prepaid tuition and fees received from clients in advance of services being performed. The Company is also a party to agreements where the performance of services extends beyond one year. In these circumstances, the Company records a long-term obligation and recognizes revenue over the period of the agreement as the services are rendered.

Leases and Deferred Rent — The Company leases space for certain of its centers and corporate offices. Leases are evaluated and classified as operating or capital for financial reporting purposes. The Company recognizes rent expense from operating leases with periods of free rent, tenant allowances and scheduled rent increases on a straight-line basis over the applicable lease term. The difference between rents paid and straight-line rent expense is recorded as deferred rent.

Discount on Long-Term Debt — Original issue discounts on the Company’s debt are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization expense is included in interest expense in the consolidated statement of income.

Deferred Financing Costs — Deferred financing costs are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization expense is included in interest expense in the consolidated statement of income.

Income Taxes — The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for tax carryforwards, such as net operating losses. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the provision for income taxes in the period that includes the enactment date. The Company records a valuation allowance to reduce the carrying amount of deferred tax assets if it is more likely than not that such asset will not be realized. Additional income tax expense is recognized as a result of recording valuation allowances. The Company does not recognize a tax benefit on losses in foreign operations where it does not have a history of profitability. The Company records penalties and interest on income tax related items as a component of tax expense.

Obligations for uncertain tax positions are recorded based on an assessment of whether the position is more likely than not to be sustained by the taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.

Revenue Recognition — The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the fee is fixed and determinable, and collectability is reasonably assured.

Center-based child care revenues consist primarily of tuition, which consists of amounts paid by parents, supplemented in some cases by payments from employer sponsors and, to a lesser extent, by payments from government agencies. Revenue may also include management fees, operating subsidies paid either in lieu of or to supplement parent tuition, and fees for other services. Revenue for center-based child care is recognized as the services are performed.

The Company enters into contracts with its employer sponsors to manage and operate their child care and early education centers and/or for the provision of back-up dependent care and other educational advisory services under various terms. The Company’s contracts to operate child care and early education centers are generally three to ten years in length with varying renewal options. The Company’s contracts for back-up dependent care and other educational advisory services are generally one to three years in length with varying renewal options. Revenue for these services is recognized as they are performed.

Stock-Based Compensation — The Company accounts for stock-based compensation using a fair value method. Stock-based compensation expense is recognized in the consolidated financial statements based on the grant-date fair value of the awards that are expected to vest. This expense is recognized on a straight-line basis over the requisite service period, which generally represents the vesting period, of each separately vesting tranche. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model.

Comprehensive Income or Loss — Comprehensive income or loss is comprised of net income or loss, foreign currency translation adjustments, and unrealized gains or losses from interest rate swaps, net of tax. The Company has not recorded a deferred tax liability related to state income taxes and foreign withholding taxes on the undistributed earnings of foreign subsidiaries that are intended to be indefinitely reinvested. Therefore, taxes are not provided for the related currency translation adjustments.

Earnings Per Share — Net earnings per share is calculated using the two-class method, which is an earnings allocation formula that determines net income or loss per share for the holders of the Company’s common stock and unvested participating shares. Unvested participating shares are unvested share-based payment awards of restricted stock that participate in dividends with common stock. Net income available to stockholders is allocated on a pro rata basis to each share as if all of the earnings for the period had been distributed. Diluted net income or loss per share is calculated using the more dilutive of (1) the treasury stock method, or (2) the two-class method for all outstanding stock options.

Recently Adopted Pronouncement — In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification on the statement of cash flows. The update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods with early adoption permitted. The Company adopted the standard prospectively on January 1, 2017, and as such, prior periods have not been adjusted. The adoption of this guidance impacted the Company’s income tax expense, effective tax rate, and weighted average shares outstanding. The Company continues to include a forfeiture assumption relative to its unvested awards. Upon adoption, the Company now recognizes all excess tax benefits and tax deficiencies as income tax benefits or expenses on the income statement, which were previously recorded to additional paid-in capital on the balance sheet. As a result, the Company decreased tax expense and increased net income by $26.5 million in the year ended December 31, 2017 in relation to the excess tax benefits associated with the exercise of stock options and vesting of restricted stock. Additionally, weighted average diluted common shares increased in the year ended December 31, 2017 by approximately 0.4 million shares under the new earnings per share methodology and tax benefits from stock options of $26.5 million were included with cash flows from operating activities as a component of net income rather than as cash flows from financing activities under previous guidance.

New Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides a single comprehensive model for revenue recognition. The FASB has subsequently issued various ASUs which amend or clarify specific areas of the guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This new guidance is effective for the Company beginning January 1, 2018 and can be adopted using either a full retrospective or modified approach. The Company will adopt the standard using the modified approach.

The Company established an implementation team to assist with its assessment of the impact of the new revenue guidance on its operations, consolidated financial statements and related disclosures. The Company’s assessment has included performing analysis for each revenue stream identified, assessing the potential differences in recognition and measurement that may result from adopting this standard, evaluating principal versus agent considerations, and assessing whether the Company meets certain practical expedients. Based on the results of the assessment, the adoption of this standard will not have a material impact on the timing or amount of revenue recognized upon adoption and any cumulative prior period adjustment is immaterial and therefore will not be recorded to the opening balance of retained earnings upon adoption. The Company also anticipates changes to its disclosures to comply with the new disclosure requirements under Topic 606. The Company is implementing the necessary changes to its revenue recognition accounting policies and controls to support recognition and disclosure under the new standard.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This standard amends the existing guidance and requires lessees to recognize on the balance sheet assets and liabilities for the rights and obligations created by those leases with lease terms longer than twelve months. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018, and is to be applied using a modified retrospective approach. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of this ASU on the Company's consolidated financial statements. Based on its preliminary assessment, the Company anticipates that the adoption of this standard will have a material impact on the Company's consolidated financial statements, as all long-term leases will be capitalized on the consolidated balance sheet.

In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities (Topic 815), which expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance also makes certain targeted improvements to simplify the application of hedge accounting guidance and ease the administrative burden of hedge documentation requirements and assessing hedge effectiveness. This ASU is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years, with early adoption permitted. The new guidance with respect to cash flow and net investment hedge relationships existing on the date of adoption must be applied on a modified retrospective basis, and the new presentation and disclosure requirements must be applied on a prospective basis. This standard is not expected to have a significant impact on the Company's consolidated financial statements and related disclosures.

Acquisitions

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS AND DISPOSITIONS

The Company’s growth strategy includes expansion through strategic and synergistic acquisitions. The goodwill resulting from these acquisitions arises largely from synergies expected from combining the operations of the businesses acquired with our existing operations, as well as from benefits derived from gaining the related assembled workforce.

2017 Acquisitions

During the year ended December 31, 2017, the Company acquired ten centers in the Netherlands, three centers in the United States, and one center in the United Kingdom in seven separate business acquisitions, which were each accounted for as business combinations. The centers were acquired for cash consideration of $21.5 million, net of cash acquired of $0.3 million, and consideration payable of $0.2 million. The Company recorded goodwill of $14.3 million related to the full service center-based child care segment, a portion of which will be deductible for tax purposes. In addition, the Company recorded intangible assets of $2.3 million, consisting of customer relationships that will be amortized over three to five years, as well as fixed assets of $7.3 million, deferred tax liabilities of $0.6 million, and a working capital deficit of $1.3 million in relation to these acquisitions.

The allocation of purchase price consideration is based on preliminary estimates of fair value; such estimates and assumptions are subject to change within the measurement period (up to one year from the acquisition date). As of December 31, 2017, the purchase price allocations for these acquisitions remain open as the Company gathers additional information regarding the assets acquired and the liabilities assumed. The operating results for the acquired businesses are included in the consolidated results of operations from the date of acquisition, which were not material to the Company’s financial results.

2017 Dispositions

During the year ended December 31, 2017, the Company disposed of its remaining three centers in Ireland for a loss of $3.7 million, which was included in other expenses in the consolidated statement of income, offset by a tax benefit of approximately $7.0 million that was recorded from the loss on investment of a subsidiary.

2016 Acquisitions

Conchord Limited

On November 10, 2016, the Company acquired all of the outstanding shares of Conchord Limited, which operates Asquith Day Nurseries & Pre-Schools (“Asquith”), a group of 90 child care centers and programs throughout the United Kingdom, for cash consideration of $206.1 million, which was accounted for as a business combination. The purchase price was financed with available cash on hand, funds available under the Company’s revolving credit facility, and term loans. The Company incurred transaction costs of approximately $1.4 million for this transaction, which were included in selling, general and administrative expenses in 2016.

The purchase price for this acquisition has been allocated based on the fair value of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands):



	At acquisition date As reported December 31, 2016			Measurement period adjustments			At acquisition date As reported December 31, 2017
Cash	$	5,210		$	75		$	5,285
Prepaid expenses and other assets	5,700			(237		)	5,463
Fixed assets	96,868			(1,368		)	95,500
Intangible assets	10,540			1,860			12,400
Goodwill	122,714			(5,914		)	116,800
Total assets acquired	241,032			(5,584		)	235,448
Accounts payable and accrued expenses	(18,696		)	1,569			(17,127		)
Deferred revenue and parent deposits	(5,394		)	1,026			(4,368		)
Deferred tax liabilities	(7,793		)	2,993			(4,800		)
Other long-term liabilities	(3,048		)	(4		)	(3,052		)
Total liabilities assumed	(34,931		)	5,584			(29,347		)
Purchase price	$	206,101		$	—		$	206,101

The Company acquired fixed assets of $95.5 million, including 39 properties. The Company recorded goodwill of $116.8 million, which will not be deductible for tax purposes. Goodwill related to this acquisition is reported within the full service center-based child care segment. Intangible assets consist of $9.9 million of customer relationships that will be amortized over five years and $2.5 million of trademarks that will be amortized over six years.

The operating results for Asquith are included in the consolidated results of operations from the date of acquisition. The following table presents consolidated pro forma information as if the acquisition of Asquith had occurred on January 1, 2015 (in thousands):



	Pro forma (Unaudited)
	Years ended December 31,
	2016		2015
Revenue	$	1,649,665	$	1,548,560
Net income	$	96,033	$	89,404

The unaudited pro forma results reflect certain adjustments related to the acquisition, such as increased amortization expense related to the acquired intangible assets as well as financing costs. The pro forma results for the year ended December 31, 2015 include nonrecurring transaction costs that were incurred by the Company and the acquired business in relation to the acquisition, totaling $4.3 million, which were excluded from the pro forma results for the year ended December 31, 2016.

Asquith contributed total revenue of $11.3 million in the year ended December 31, 2016. The Company has determined that the presentation of net income, from the date of acquisition, is impracticable due to the integration of the operations upon acquisition.

Other 2016 Acquisitions

During the year ended December 31, 2016, the Company also acquired four centers in the United States and eight centers in the United Kingdom in four separate business acquisitions, which were each accounted for as business combinations. The centers were acquired for cash consideration of $18.1 million and contingent consideration of $1.1 million. The Company recorded goodwill of $17.1 million related to the full service center-based child care segment, a portion of which will be deductible for tax purposes. In addition, the Company recorded intangible assets of $3.3 million, consisting primarily of customer relationships that will be amortized over five years, as well as a working capital deficit of $1.8 million, including cash of $0.3 million, in relation to these acquisitions.

During the year ended December 31, 2016, the Company acquired all of the outstanding shares of a provider of back-up care in the United States, which was accounted for as a business combination. The business was acquired for cash consideration of $10.4 million and contingent consideration of $3.8 million. The Company recorded goodwill of $9.2 million related to the back-up care segment, which will not be deductible for tax purposes. In addition, the Company recorded intangible assets of $4.9 million, consisting primarily of the provider network that will be amortized over five years, as well a technology of $2.6 million, and working capital of $0.4 million, including cash of $0.3 million, in relation to this acquisition.

2015 Acquisitions

On May 19, 2015, the Company acquired Hildebrandt Learning Centers, LLC, an operator of 40 centers in the United States, for cash consideration of $19.2 million and contingent consideration of $0.5 million, which was accounted for as a business combination. The Company recorded goodwill of $13.2 million related to the full service center-based child care segment, which will be deductible for tax purposes, and intangible assets of $5.7 million, consisting of customer relationships that will be amortized over 12 years. The Company also acquired working capital of $0.3 million, including cash of $1.5 million, and fixed assets of $0.5 million.

On July 15, 2015, the Company acquired Active Learning Childcare Limited, an operator of nine centers in the United Kingdom, for cash consideration of $42.2 million, which was accounted for as a business combination. The Company recorded goodwill of $31.1 million related to the full service center-based child care segment, which will not be deductible for tax purposes, and intangible assets of $3.8 million, consisting primarily of customer relationships that will be amortized over five years. The Company also acquired a working capital deficit of $1.8 million, including cash of $2.8 million, fixed assets of $9.8 million, and deferred tax liabilities of $0.7 million.

Our acquisitions of Hildebrandt Learning Centers, LLC and Active Learning Childcare Limited contributed approximately $29.6 million of incremental revenue in the year ended December 31, 2015.

During the year ended December 31, 2015, the Company also acquired four additional centers in the United States and four additional centers in the United Kingdom, in six separate business acquisitions which were each accounted for as business combinations. The centers were acquired for cash consideration of $20.5 million and contingent consideration of $0.8 million, net of cash acquired of $0.3 million. Contingent consideration of $0.8 million was paid during the year ended December 31, 2016 in relation to these acquisitions. The company recorded goodwill of $18.5 million related to the full service center-based child care segment, a portion of which will be deductible for tax purposes. Intangible assets of $2.7 million, consisting primarily of customer relationships that will be amortized over five years, were also recorded in relation to these acquisitions.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill are as follows (in thousands):



	Full service center-based child care			Back-up dependent care			Other educational advisory services		Total
Balance at December 31, 2015	$	965,114		$	158,894		$	23,801	$	1,147,809
Additions from acquisitions	139,539			9,214			—		148,753
Adjustments to prior year acquisitions	73			—			—		73
Effect of foreign currency translation	(28,930		)	—			—		(28,930		)
Balance at December 31, 2016	1,075,796			168,108			23,801		1,267,705
Additions from acquisitions	14,269			—			—		14,269
Adjustments to prior year acquisitions	(5,596		)	(3		)	—		(5,599		)
Effect of foreign currency translation	30,417			—			—		30,417
Balance at December 31, 2017	$	1,114,886		$	168,105		$	23,801	$	1,306,792

The Company also has intangible assets, which consist of the following at December 31, 2017 and 2016 (in thousands):



December 31, 2017:	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	396,428	$	(234,742	)	$	161,686
Trade names	7 years	10,224		(4,566		)	5,658
		406,652		(239,308		)	167,344
Indefinite-lived intangibles:
Trade names	N/A	181,196		—			181,196
		$	587,848	$	(239,308	)	$	348,540



December 31, 2016:	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	392,820	$	(205,342	)	$	187,478
Trade names	7 years	8,283		(2,961		)	5,322
Non-compete agreements	N/A	49		(49		)	—
		401,152		(208,352		)	192,800
Indefinite-lived intangibles:
Trade names	N/A	181,766		—			181,766
		$	582,918	$	(208,352	)	$	374,566

The Company recorded amortization expense of $32.6 million, $29.6 million and $28.0 million in the years ended December 31, 2017, 2016, and 2015, respectively.

The Company estimates that it will record amortization expense related to intangible assets existing as of December 31, 2017 as follows over the next five years (in thousands):



	Estimated amortization expense
2018	$	30,134
2019	$	27,740
2020	$	26,833
2021	$	25,140
2022	$	22,927

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Fixed Assets

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Fixed Assets

FIXED ASSETS

Fixed assets consist of the following (dollars in thousands):



	Estimated useful lives (Years)	December 31,
	Estimated useful lives (Years)	2017			2016
Buildings	20 – 40	$	182,701		$	174,168
Furniture, equipment and software	3 – 10	206,161			178,872
Leasehold improvements	Shorter of the lease term or the estimated useful life	423,624			365,707
Land	—	103,680			92,666
Total fixed assets		916,166			811,413
Accumulated depreciation		(340,981		)	(281,981		)
Fixed assets, net		$	575,185		$	529,432

Fixed assets include construction in progress of $31.2 million and $26.4 million at December 31, 2017 and 2016, respectively, which was primarily comprised of leasehold improvements. The Company recorded depreciation expense of $62.2 million, $55.6 million and $50.7 million for the years ended December 31, 2017, 2016, and 2015, respectively.

Credit Arrangements and Debt Obligations

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Credit Arrangements and Debt Obligations

CREDIT ARRANGEMENTS AND DEBT OBLIGATIONS

Senior secured credit facilities

The Company’s $1.3 billion senior secured credit facilities consist of a $1.1 billion secured term loan facility and a $225.0 million revolving credit facility. The term loans mature on November 7, 2023 and require quarterly principal payments of $2.7 million, with the remaining principal balance due on November 7, 2023.

Outstanding term loan borrowings were as follows at December 31, 2017 and 2016 (in thousands):



	December 31,
	2017			2016
Term loans	$	1,066,938		$	1,075,000
Deferred financing costs and original issue discount	(10,177		)	(10,241		)
Total debt	1,056,761			1,064,759
Less current maturities	10,750			10,750
Long-term debt	$	1,046,011		$	1,054,009

The revolving credit facility matures on July 31, 2022. Borrowings outstanding on the revolving credit facility were $127.1 million at December 31, 2017 and $76.0 million at December 31, 2016.

All borrowings under the credit agreement are subject to variable interest. At December 31, 2017, borrowings under the term loan facility bear interest at a rate per annum of 1.0% over the base rate, or 2.0% over the Eurocurrency rate (each as defined in the credit agreement), which is the one, two, three or six month LIBOR rate or, with applicable lender approval, the twelve month or less than one month LIBOR rate. With respect to the term loan facility, the base rate is subject to an interest rate floor of 1.75% and the Eurocurrency rate is subject to an interest rate floor of 0.75%. Borrowings under the revolving credit facility bear interest at a rate per annum ranging from 0.50% to 1.0% over the base rate, or 1.50% to 2.0% over the Eurocurrency rate.

The effective interest rate for the term loans was 3.57%, 3.50%, and 4.10% at December 31, 2017, 2016, and 2015, respectively, and the weighted average interest rate was 3.53%, 3.90%, and 4.10% for the years ended December 31, 2017, 2016, and 2015, respectively. The effective interest rate for the revolving credit facility was 3.70%, 5.50%, and 5.25% at December 31, 2017, 2016, and 2015, respectively. The weighted average interest rate for the revolving credit facility was 4.10%, 4.20%, and 3.80% for the years ended December 31, 2017, 2016, and 2015, respectively.

Certain financing fees and original issue discount costs are capitalized and are being amortized over the terms of the related debt instruments and amortization expense is included in interest expense. Amortization expense of deferred financing costs were $1.4 million, $2.2 million, and $2.2 million for the years ended December 31, 2017, 2016, and 2015, respectively. Amortization expense of original issue discount costs were $0.4 million, $1.3 million, and $1.4 million for the years ended December 31, 2017, 2016, and 2015, respectively. A loss on extinguishment of debt of $11.1 million was recorded in the year ended December 31, 2016, related to the write off of unamortized original issue discount costs and deferred financing fees in connection with the November 2016 debt refinancing.

All obligations under the senior secured credit facilities are secured by substantially all the assets of the Company’s U.S.-based subsidiaries. The senior secured credit facilities contain a number of covenants that, among other things and subject to certain exceptions, may restrict the ability of Bright Horizons Family Solutions LLC, our wholly-owned subsidiary, and its restricted subsidiaries, to: incur certain liens; make investments, loans, advances and acquisitions; incur additional indebtedness or guarantees; pay dividends on capital stock or redeem, repurchase or retire capital stock or subordinated indebtedness; engage in transactions with affiliates; sell assets, including capital stock of our subsidiaries; alter the business conducted; enter into agreements restricting our subsidiaries’ ability to pay dividends; and consolidate or merge.

In addition, the credit agreement governing the senior secured credit facilities requires Bright Horizons Capital Corp., our direct subsidiary, to be a passive holding company, subject to certain exceptions. The revolving credit facility requires Bright Horizons Family Solutions LLC, the borrower, and its restricted subsidiaries, to comply with a maximum senior secured first lien net leverage ratio financial maintenance covenant, to be tested only if, on the last day of each fiscal quarter, revolving loans and/or swing-line loans in excess of a specified percentage of the revolving commitments on such date are outstanding under the revolving credit facility. The breach of this covenant is subject to certain equity cure rights.

Credit Amendments

On January 26, 2016, the Company amended its then existing credit agreement to increase the revolving credit facility from $100.0 million to $225.0 million, to extend the maturity date on the revolving credit facility from January 30, 2018 to July 31, 2019, and to modify the interest rate applicable to borrowings.

On November 7, 2016, the Company modified its then existing senior credit facilities and refinanced all of its outstanding term loans into a new seven year term loan facility, which resulted in the issuance of $1.1 billion in new term loans, a portion of which were used to repay $922.5 million in outstanding term loans under the previous term loan facility, and $150.0 million of which was used to fund the acquisition of a business. The terms, interest rate and availability of the revolving credit facility were not modified in the November 2016 debt refinancing. The Company incurred and capitalized financing fees of $6.7 million and original issue discount costs of $2.7 million in connection with the November 2016 debt refinancing.

On May 8, 2017 and November 30, 2017, the Company amended its existing senior credit facilities to, among other changes, reduce the applicable interest rates of the term loan facility and the revolving credit facility. In connection with the May 8, 2017 amendment, the Company also extended the maturity date on the revolving credit facility from July 31, 2019 to July 31, 2022. The maturity date of the amended term loan facility of November 7, 2023 was not modified with these amendments. In the year ended December 31, 2017, the Company incurred $2.8 million in fees associated with these amendments which were included in selling, general and administrative expenses.

Interest Rate Swap Agreements

The Company is subject to interest rate risk as all borrowings under the senior secured credit facilities are subject to variable interest. On October 16, 2017, the Company entered into variable-to-fixed interest rate swap agreements to mitigate the exposure to variable interest arrangements on $500.0 million notional amount of the outstanding term loan borrowings, effective October 31, 2017. These swap agreements, designated and accounted for as cash flow hedges from inception, are scheduled to mature on October 31, 2021. The Company is required to make monthly payments on the notional amount at a fixed average interest rate, including the applicable rate for Eurocurrency loans, of approximately 3.90%. In exchange, the Company receives interest on the notional amount at a variable rate based on the one-month LIBOR rate, subject to a 0.75% floor.

The interest rate swaps are recorded on the Company's consolidated balance sheet at fair value and classified based on the instruments' maturity dates. The Company records gains or losses resulting from changes in the fair value of the interest rate swaps to other comprehensive income or loss to the extent that the swaps are effective as hedges. As of December 31, 2017, there was no ineffectiveness related to the interest rate swap agreements. Gains and losses recorded to other comprehensive income or loss are reclassified into earnings and recognized to interest expense in the Company's consolidated statement of income in the period that the hedged interest expense on the term loan facility is recognized.

As of December 31, 2017, the fair value of the interest rate swap agreements was as follows (in thousands):



	Consolidated balance sheet classification	December 31, 2017
Interest rate swaps - asset	Other assets	$	3,767

For the year ended December 31, 2017, the effect of the interest rate swap agreements on other comprehensive income was as follows (in thousands):



Derivatives designated as cash flow hedging instruments	Amount of gain recognized in other comprehensive income			Consolidated statement of income classification	Amount of net loss reclassified into earnings			Total effect on other comprehensive income
Interest rate swaps	$	3,258		Interest expense—net	$	(509	)	$	3,767
Income tax effect	(1,303		)	Income tax expense	204			(1,507		)
Net of income taxes	$	1,955			$	(305	)	$	2,260

During the next twelve months, the Company estimates that a loss of $0.7 million, pre-tax, will be reclassified from accumulated other comprehensive income to interest expense.

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Income before income taxes consists of the following (in thousands):



	Years ended December 31,
	2017		2016		2015
United States	$	116,225	$	132,846	$	134,611
Foreign	45,175		10,351		5,545
Total	$	161,400	$	143,197	$	140,156

The allocation of income before income taxes may fluctuate year to year due to activity within the Bright Horizons consolidated group. Due to the disposition of our remaining assets in Ireland and the related disposition of our investment in the foreign subsidiary in 2017, the foreign income before income taxes includes a gain of approximately $11.9 million, with a corresponding loss of approximately $15.6 million within the U.S. income before income taxes. This transaction resulted in a consolidated net loss of $3.7 million which is included in other expenses in the consolidated statement of income.

Income tax expense consists of the following (in thousands):



	Years ended December 31,
	2017			2016			2015
Current tax expense
Federal	$	29,733		$	42,691		$	29,236
State	4,531			10,752			8,723
Foreign	7,735			7,115			9,028
	41,999			60,558			46,987
Deferred tax (benefit) expense
Federal	(36,794		)	(6,463		)	(11,014		)
State	612			(2,069		)	6,776
Foreign	(1,380		)	(3,589		)	3,480
	(37,562		)	(12,121		)	(758		)
Income tax expense	$	4,437		$	48,437		$	46,229

The following is a reconciliation of the U.S. federal statutory rate to the effective rate on pretax income (in thousands):



	Years ended December 31,
	2017			2016			2015
Federal tax expense computed at statutory rate	$	56,490		$	50,119		$	49,055
State tax expense, net of federal tax	2,881			6,374			5,849
Valuation allowance, net	(1,028		)	(107		)	(185		)
Intercompany interest	(5,074		)	(6,953		)	(6,919		)
Permanent differences and other, net	1,041			(389		)	(901		)
Stock-based compensation	(22,757		)	—			—
Change in tax rate	(32,844		)	(96		)	319
Transition Tax	11,027			—			—
Change to uncertain tax positions, net	614			432			(333		)
Foreign rate differential	(5,913		)	(943		)	(656		)
Income tax expense	$	4,437		$	48,437		$	46,229

The effective income tax rate for 2017 decreased from prior years primarily due to three items. The first relates to the excess tax benefits associated with the exercise of stock options and vesting of restricted stock which reduced income tax expense by $26.5 million in 2017 due to the adoption of ASU 2016-09: Compensation—Stock Compensation (Topic 718) (“ASU 2016-09”). ASU 2016-09 was adopted prospectively as of January 1, 2017. The excess tax benefits from stock-based compensation were recorded to the balance sheet in prior years.

Second, a net tax benefit of $22.3 million was recorded due to the enactment of the U.S. Tax Cuts and Jobs Act (“Tax Act”), as discussed in more detail below. Third, a tax benefit of approximately $7.0 million was recorded in 2017 related to the disposition of our remaining assets in Ireland, also resulting in the disposition of our investment in a subsidiary for tax purposes.

On December 22, 2017, the U.S. federal government enacted comprehensive tax legislation with the Tax Act that makes broad and complex changes to the U.S. tax code, impacting the year ended December 31, 2017 and future years. For 2017, the Tax Act requires a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries that is payable over eight years and also allows for bonus depreciation that permits full expensing of qualified property. Effective January 1, 2018, the Tax Act reduces the U.S. federal corporate tax rate from 35% to 21%.

The SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the date of the Tax Act enactment for companies to complete the accounting under Accounting Standards Codification 740—Income Taxes. In accordance with SAB 118, to the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete, but the company is able to determine a reasonable estimate, it must record a provisional estimate in its financial statements.

The Company’s accounting for certain elements of the Tax Act is incomplete. However, the Company was able to make the following reasonable estimates of certain items and has recorded provisional adjustments as of December 31, 2017 based on these estimates.

The Tax Act reduces the corporate federal tax rate to 21% effective January 1, 2018. As a result, the Company recorded a provisional decrease of $33.3 million to its net deferred tax liability with a corresponding adjustment to deferred tax benefit for the year ended December 31, 2017. While the Company was able to make a reasonable estimate of the impact of the reduction in corporate tax rate, it may be affected by other analyses related to the Tax Act including, the calculation of the deemed repatriation of foreign income and the state tax effect of federal adjustments.

The Deemed Repatriation Transition Tax (“Transition Tax”) is a tax on previously untaxed accumulated and current earnings and profits (“E&P”) of certain foreign subsidiaries. To determine the amount of the Transition Tax, the Company must determine the amount of post-1986 E&P of the relevant foreign subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. The Company is able to make a reasonable estimate of the Transition Tax and recorded a provisional tax obligation of $11.0 million. However, the Company is continuing to gather additional information to more precisely compute the amount of Transition Tax.

Significant components of the Company’s net deferred tax liability are as follows (in thousands):



	December 31,
	2017			2016
Deferred tax assets:
Reserve on assets	$	605		$	342
Net operating loss carryforwards	304			1,347
Liabilities not yet deductible	28,951			39,401
Deferred revenue	2,934			3,370
Stock-based compensation	8,024			13,855
Depreciation	—			118
Other	2,608			1,620
	43,426			60,053
Valuation allowance	—			(1,028		)
Total deferred tax assets	43,426			59,025
Deferred tax liabilities:
Intangible assets	(97,674		)	(143,806		)
Depreciation	(19,685		)	(26,930		)
Total deferred tax liabilities	(117,359		)	(170,736		)
Net deferred tax liability	$	(73,933	)	$	(111,711	)

During 2017, the overall deferred tax liability decreased significantly, primarily due to the Tax Act. The U.S. net deferred tax liability was revalued at the lower rate and reduced by $33.3 million. The other book to tax differences, resulting in a net decrease in the deferred tax liability, were in the treatment of amortization of intangible assets, depreciation and stock-based compensation. At December 31, 2017, the net deferred tax liability of $73.9 million includes deferred tax assets of $0.1 million which are recorded to other assets in the consolidated balance sheet.

The Company has foreign net operating losses of $1.3 million and has recorded an associated deferred tax asset totaling $0.3 million. The net operating losses in certain foreign jurisdictions will begin to expire in 2024, while others can be carried forward indefinitely. During 2017, the valuation allowance of $1.0 million was released, based upon consideration of the cumulative income over the last three years and projected forecast of taxable income of the foreign subsidiary. At December 31, 2017, there are no foreign deferred tax assets that require a valuation allowance.

The Company considers the earnings of certain non-U.S. subsidiaries to be indefinitely invested outside the United States on the basis of estimates that future domestic cash generation will be sufficient to meet future domestic cash needs and our specific plans for reinvestment of those subsidiary earnings. The Company has not recorded a deferred tax liability of approximately $1.1 million related to the state taxes and foreign withholding taxes on approximately $123.0 million of cumulative undistributed earnings of foreign subsidiaries indefinitely invested outside the United States.

Uncertain Tax Positions

The Company follows the authoritative guidance relating to the accounting for uncertainty in income taxes. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):



	Years ended December 31,
	2017		2016			2015
Beginning balance	$	1,096	$	706		$	713
Additions for tax positions of prior years	—		—			353
Additions for tax positions of current year	650		443			353
Settlements	—		—			(50		)
Reductions for tax positions of prior years	—		(27		)	—
Lapses of statutes of limitations	—		—			(663		)
Effect of foreign currency adjustments	157		(26		)	—
Ending balance	$	1,903	$	1,096		$	706

The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense. The Company’s current provision for income tax expense for the years ended December 31, 2017, 2016 and 2015 included no interest and penalties. There was no liability for total interest and penalties at December 31, 2017 and 2016. During 2017, the Company recorded an unrecognized tax benefit for a foreign subsidiary's tax position.

The total amount of unrecognized tax benefits that if recognized would affect the Company’s effective tax rate is $1.9 million. The Company expects the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this time frame, or if applicable statutes of limitations lapse. The impact of the amount of such changes to previously recorded uncertain tax positions could range from zero to $1.9 million.

The Company and its domestic subsidiaries are subject to U.S. federal income tax as well as multiple state jurisdictions. U.S. federal income tax returns are typically subject to examination by the Internal Revenue Service (IRS) and the statute of limitations for federal income tax returns is three years. The Company’s filings for 2014 through 2016 are subject to audit based upon the federal statute of limitations.

State income tax returns are generally subject to examination for a period of three to five years after filing of the respective return. The state impact of any federal changes remains subject to examination by various states for a period of up to one year after formal notification to the states. There were no significant settlements of state audits during the year. As of December 31, 2017, there were no income tax audits in process and the tax years from 2013 to 2016 are subject to audit.

The Company is also subject to corporate income tax at its subsidiaries located in the United Kingdom, the Netherlands, India, Canada, Ireland and Puerto Rico. The tax returns for the Company’s subsidiaries located in foreign jurisdictions are subject to examination for periods ranging from one to seven years.

Stockholders' Equity and Stock-Based Compensation

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stockholders' Equity and Stock-Based Compensation

STOCKHOLDERS’ EQUITY AND STOCK-BASED COMPENSATION

Preferred Stock

The Company authorized 25 million shares of undesignated preferred stock in 2013 for issuance, of which none have been issued. The Company’s board of directors has the authority, without further action by stockholders, to issue up to 25 million shares of preferred stock in one or more series. The Company’s board of directors may designate the rights, preferences, privileges, and restrictions of the preferred stock, including dividend rights, conversion rights, voting rights, terms of redemption, liquidation preference, and number of shares constituting any series or the designation of any series. The issuance of preferred stock could have the effect of restricting dividends on the Company’s common stock, diluting the voting power of its common stock, impairing the liquidation rights of its common stock, or delaying or preventing a change in control. As of December 31, 2017 and 2016, no shares of preferred stock were outstanding.

Treasury Stock

On August 2, 2016, the board of directors of the Company authorized a share repurchase program of up to $300.0 million of the Company’s outstanding common stock, effective August 5, 2016. The share repurchase program, which has no expiration date, replaces the prior 2015 authorization, of which $26.3 million remained available at the date the program was replaced. The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, under Rule 10b5-1 plans, or by other means in accordance with federal securities laws. During the year ended December 31, 2017, the Company repurchased 2.0 million shares for $162.2 million, including a total of 1.7 million shares that were purchased from investment funds affiliated with Bain Capital Partners LLC in secondary offerings at the same price per share paid by the underwriter. At December 31, 2017, $120.6 million remained outstanding under the repurchase program.

During the year ended December 31, 2016, the Company repurchased 1.7 million shares for $112.8 million, including a total of 1.0 million shares that were purchased from investment funds affiliated with Bain Capital Partners LLC in secondary offerings at the same price per share paid by the underwriter.

On February 4, 2015, the board of directors of the Company authorized a share repurchase program of up to $250.0 million of its common stock. During the year ended December 31, 2015, the Company repurchased 2.2 million shares for $128.1 million, including a total of 2.1 million shares that were purchased from investment funds affiliated with Bain Capital Partners LLC in secondary offerings at the same price per share paid by the underwriter.

Equity Incentive Plan

The Company's 2012 Omnibus Long-Term Incentive Plan, as Amended and Restated (the “Plan”), allows for the issuance of equity awards of up to 5 million shares of common stock. As of December 31, 2017, there were approximately 1.8 million shares of common stock available for grant. Stock options granted under the Plan are subject to a service condition and expire in seven years from date of grant or termination of the holder’s employment with the Company, unless such termination was due to death, disability or retirement, unless otherwise determined by the administrator of the Plan. The majority of the options have a requisite service period of five years, with 60% of the options vesting on the third anniversary of the date of grant and 20% vesting on each of the fourth and fifth anniversaries.

The Company also had an incentive compensation plan (the “2008 Plan”) which, as amended in March 2012, was authorized to issue 150,000 shares of Class L common stock and 1.5 million shares of Class A common stock. No additional options will be granted under the 2008 Plan. However, all outstanding options continue to be governed by their existing terms.

Stock-Based Compensation

The Company recognized the impact of stock-based compensation in its consolidated statements of income for the years ended December 31, 2017, 2016, and 2015 and did not capitalize any amounts on the consolidated balance sheets. In the years ended December 31, 2017, 2016, and 2015 the Company recorded stock-based compensation expense of $12.1 million, $11.6 million, and $9.2 million, respectively, of which $11.6 million, $11.0 million, and $8.7 million was recorded in selling, general and administrative expenses, respectively, and $0.5 million, $0.6 million, and $0.5 million in cost of services, respectively, in the consolidated statements of income in relation to all awards granted under the equity incentive plans. Stock-based compensation expense generated a deferred income tax benefit of $3.2 million, $4.6 million, and $3.7 million in the years ended December 31, 2017, 2016, and 2015, respectively.

There were no share-based liabilities paid during the period. As of December 31, 2017, there was $16.9 million of total unrecognized compensation expense, net of estimated forfeitures, related to unvested share-based compensation arrangements granted under the Plan. That expense is expected to be recognized over the remaining requisite service period. Estimated forfeitures are based on the Company's historical forfeitures and is adjusted periodically based on actual results. The weighted average remaining requisite service period was approximately two years at December 31, 2017.

Stock Options

The fair value of each stock option granted was estimated on the date of grant using the Black-Scholes option pricing model and the following weighted average assumptions:



	Years ended December 31,
	2017	2016	2015
Expected dividend yield	0.0%	0.0%	0.0%
Expected stock price volatility	30.0%	30.0%	30.0%
Risk free interest rate	1.9%	1.4%	1.5%
Expected life of options (years)	5.3	5.3	5.3
Weighted average fair value per share of options granted during the period	$22.08	$19.35	$15.37

The expected dividend yield was based on the Company’s expectation of not paying dividends in the foreseeable future. Since the Company completed its IPO in January 2013, it does not have sufficient history as a publicly traded company to evaluate its volatility factor. As such, the expected stock price volatility has been based upon the historical volatility of the stock price over the expected life of the options of the Company and that of peer companies that are publicly traded. The risk free interest rate was based on the U.S. Treasury rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the awards being valued. For grants issued during the years ended December 31, 2017, 2016, and 2015, the expected life of the options was calculated using the simplified method. The simplified method defines the life as the average of the contractual term of the options and the weighted average vesting period for all option tranches. This methodology was utilized due to the short length of time our common stock has been publicly traded.

The table below reflects stock option activity under the Company’s equity plan for the year ended December 31, 2017.



	Weighted Average Remaining Contractual Life in Years
	Weighted Average Remaining Contractual Life in Years	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2017	4.5	3,483,877		$	32.34
Granted		464,175		72.48
Exercised		(1,192,160	)	18.98
Forfeited		(81,050	)	56.75
Outstanding at December 31, 2017	4.4	2,674,842		$	44.53	$	132.3
Exercisable at December 31, 2017	3.5	1,023,230		$	22.07	$	73.6
Vested and expected to vest at December 31, 2017	4.3	2,547,213		$	43.48	$	128.7

The fair value (pre-tax) of options that vested during the years ended December 31, 2017, 2016, and 2015 was $6.8 million, $5.1 million, and $2.3 million, respectively. The intrinsic value of options exercised during the years ended December 31, 2017, 2016, and 2015 was $66.6 million, $39.4 million, and $28.9 million, respectively.

Cash received by the Company from the exercise of stock options for the years ended December 31, 2017, 2016, and 2015 was $22.6 million, $11.7 million, and $9.8 million, respectively.

Income tax benefits realized from the exercise of stock options in the years ended December 31, 2017, 2016, and 2015 were $32.3 million, $15.8 million, and $11.6 million, respectively, inclusive of the excess tax benefits realized of $26.5 million, $12.9 million, and $9.4 million in the years ended December 31, 2017, 2016, and 2015, respectively. Excess tax benefits for 2017 reduced income tax expense due to the adoption of ASU 2016-09, which was adopted prospectively on January 1, 2017. Excess tax benefits were previously recorded to additional paid-in capital on the consolidated balance sheet.

Restricted Stock and Restricted Stock Units

Restricted stock awards are granted to certain senior managers at the discretion of the board of directors as allowed under the Plan. Restricted stock awards typically vest on the earliest of the third anniversary of the grant date, a change in control of the Company, or the termination of employment by reason of death or disability, and are accounted for as non-vested stock. Restricted stock is sold for a price equal to 50% of the fair value of the stock at the date of grant. Proceeds from the issuance of restricted stock are recorded as other liabilities in the consolidated balance sheet until the earlier of vesting or forfeiture of the awards. The unvested shares of restricted stock participate equally in dividends with common stock. Restricted stock is considered legally issued at the date of grant, but is not considered common stock issued and outstanding in accordance with accounting guidance until the requisite service period is fulfilled. All outstanding shares of restricted stock are expected to vest. Cash proceeds from the issuance of restricted stock for the years ended December 31, 2017, 2016, and 2015 were $4.4 million, $3.7 million, and $3.9 million, respectively.

Stock-based compensation expense for restricted stock awards is calculated based on the fair value of the award on the date of grant, which is recognized on a straight line basis over the requisite service period. The Company's stock-based compensation expense recorded in selling, general and administrative expenses in the consolidated statements of income for the years ended December 31, 2017, 2016, and 2015 included $3.7 million, $4.1 million, and $2.9 million, respectively, for restricted stock awards. As of December 31, 2017, total unrecognized compensation expense included $4.5 million related to unvested restricted stock, which is expected to be recognized over the weighted average remaining requisite service period of approximately two years.

The table below reflects restricted stock activity under the Company’s equity plan for the year ended December 31, 2017.



	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (In millions)
Non-vested restricted stock shares at January 1, 2017	538,795		$	22.75	$	25.5
Granted	129,780		35.75
Vested	(287,625	)	18.69
Forfeited	—		—
Non-vested restricted stock shares at December 31, 2017	380,950		$	30.24	$	24.6

Restricted stock units are awarded to members of the board of directors as allowed under the Plan. The awards allow for the issuance of a share of the Company's common stock for each vested unit upon the earliest of termination of service as a member of the board of directors or five years after the date of the award. During the year ended December 31, 2017, 12,820 restricted stock units were awarded at a weighted average fair value of $77.99, and 2,000 restricted stock units were exercised at a weighted average fair value of $59.47. At December 31, 2017, there were 36,886 restricted stock units outstanding, with an intrinsic value of $3.5 million, which vested upon award.

Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income by the weighted-average common shares outstanding. Diluted earnings per share is calculated by dividing net income by the weighted-average common shares and potentially dilutive securities outstanding during the period.

Earnings per share is calculated using the two-class method, which requires the allocation of earnings to each class of common stock outstanding and to unvested share-based payment awards that participate in dividends with common stock, also referred to herein as unvested participating shares.

The Company’s unvested stock-based payment awards include unvested shares awarded as restricted stock awards at the discretion of the Company’s board of directors. The restricted stock awards generally vest at the end of three years. The unvested shares participate equally in dividends. See Note 11, “Stockholders’ Equity and Stock-Based Compensation,” for a discussion of the current year unvested stock awards and issuances.

Earnings per Share - Basic

The following table sets forth the computation of earnings per share using the two-class method (in thousands, except share and per share amounts):



	Years ended December 31,
	2017		2016		2015
Basic earnings per share:
Net income	$	156,963	$	94,760	$	93,927
Allocation of net income to common stockholders:
Common stock	$	155,995	$	93,919	$	93,287
Unvested participating shares	968		841		640
	$	156,963	$	94,760	$	93,927
Weighted average number of common shares:
Common stock	58,873,196		59,229,069		60,835,574
Unvested participating shares	366,029		531,364		417,285
Earnings per common share:
Common stock	$	2.65	$	1.59	$	1.53

Earnings per Share - Diluted

The Company calculates diluted earnings per share for common stock using the more dilutive of (1) the treasury stock method, or (2) the two-class method. The following table sets forth the computation of diluted earnings per share using the two-class method (in thousands, except share and per share amounts):



	Years ended December 31,
	2017			2016			2015
Diluted earnings per share:
Earnings allocated to common stock	$	155,995		$	93,919		$	93,287
Plus earnings allocated to unvested participating shares	968			841			640
Less adjusted earnings allocated to unvested participating shares	(947		)	(822		)	(624		)
Earnings allocated to common stock	$	156,016		$	93,938		$	93,303
Weighted average number of common shares:
Common stock	58,873,196			59,229,069			60,835,574
Effect of dilutive securities	1,380,495			1,365,826			1,525,204
	60,253,691			60,594,895			62,360,778
Earnings per common share:
Common stock	$	2.59		$	1.55		$	1.50

Options outstanding to purchase 0.6 million, 0.5 million and 0.2 million shares of common stock were excluded from diluted earnings per share for the years ended December 31, 2017, 2016, and 2015, respectively, since their effect was anti-dilutive, which may be dilutive in the future.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Leases

The Company leases various office equipment, child care and early education center facilities and office space under noncancelable operating leases. Most of the leases expire within 10 and 15 years and many contain renewal options for various periods. Rent expense for the years ended December 31, 2017, 2016, and 2015 totaled $116.7 million, $103.1 million and $97.3 million, respectively.

Future minimum payments under noncancelable operating leases as of December 31, 2017 are as follows for the years ending December 31 (in thousands):



2018	$	113,161
2019	108,199
2020	100,638
2021	88,675
2022	83,119
Thereafter	508,144
Total future minimum lease payments	$	1,001,936

Long-Term Debt

Future minimum payments of long-term debt are as follows for the years ending December 31 (in thousands):



2018	$	10,750
2019	10,750
2020	10,750
2021	10,750
2022	10,750
Thereafter	1,013,188
Total future principal payments	$	1,066,938

Letters of Credit

The Company has 39 letters of credit outstanding used to guarantee certain rent payments for up to $1.6 million. These letters of credit are guaranteed by cash deposits. No amounts have been drawn against these letters of credit.

Litigation

The Company is a defendant in certain legal matters in the ordinary course of business. Management believes the resolution of such pending legal matters will not have a material adverse effect on the Company’s financial condition, results of operations or cash flows, although we cannot predict the ultimate outcome of any such actions.

Insurance and Regulatory

The Company self-insures a portion of its medical insurance plans and has a high deductible workers’ compensation plan. Additionally, a portion of the general liability coverage is provided by the Company’s wholly-owned captive insurance entity. Management believes that the amounts accrued for these obligations are sufficient and that ultimate settlement of such claims or costs associated with claims made under these plans will not have a material adverse effect on the Company’s financial position, results of operations or cash flows.

The Company’s child care and early education centers are subject to numerous federal, state and local regulations and licensing requirements. Failure of a center to comply with applicable regulations can subject it to governmental sanctions, which could require expenditures by the Company to bring its child care and early education centers into compliance.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2017
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The Company maintains a 401(k) Retirement Savings Plan (the “401(k) Plan”) for all eligible employees. To be eligible for the 401(k) Plan, an employee must be at least 20.5 years of age and have completed their eligibility period of 60 days and 160 hours of service from date of hire. If they do not meet the 160 hours of service requirement, they may be eligible at 12 months provided they have reached 1,000 hours of service from date of hire. The 401(k) Plan is funded by elective employee contributions of up to 50% of their compensation, subject to certain limitations. Under the 401(k) Plan, the Company matches 25% of employee contributions for each participant up to 8% of the employee’s compensation after one year of service. Expense under the plan, consisting of Company contributions and plan administrative expenses paid by the Company, totaled approximately $3.0 million, $2.7 million and $2.5 million for the years ended December 31, 2017, 2016 and 2015, respectively. The Company maintains a Non-qualified Deferred Compensation Plan (the “NQDC Plan”) for all eligible employees. Eligible employees are employees who have capped contribution levels in our existing 401(k) Plan due to the thresholds dictated by the IRS definition of “highly compensated” employees, as well as other employees at the Company’s discretion. The NQDC Plan is funded by elective employee contributions of up to 50% of their base compensation and up to 100% of other forms of compensation, as defined. Under the NQDC Plan, the Company matches 25% of employee contributions for each participant up to $2,500. The Company holds investments in company-owned life insurance policies to offset the Company’s liabilities under the NQDC Plan. Total investments, included in other assets in the consolidated balance sheet, and NQDC Plan liabilities, included in other long-term liabilities in the consolidated balance sheet, were $5.1 million and $5.3 million at December 31, 2017, respectively. Total investments and plan liabilities were $2.7 million and $2.8 million at December 31, 2016, respectively.

Segment and Geographic Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment and Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

Bright Horizons work/life services are comprised of full service center-based child care, back-up dependent care, and other educational advisory services. As such, the Company has determined that it has three operating segments, which are also its reportable segments. Full service center-based child care includes the traditional center-based child care, preschool, and elementary education, which have similar operating characteristics and meet the criteria for aggregation. Full service center-based child care derives its revenues primarily from contractual arrangements with corporate clients and from tuition. The Company’s back-up dependent care services consist of center-based back-up child care, in-home care, mildly ill care, and adult/elder care. The Company’s other educational advisory services consist of tuition reimbursement program management and related educational consulting services, and college admissions advisory services, which have similar operating characteristics and meet the criteria for aggregation. The Company and its chief operating decision makers evaluate performance based on revenues and income from operations.

The assets and liabilities of the Company are managed centrally and are reported internally in the same manner as the consolidated financial statements; therefore, no additional information is produced or included herein.



	Full service center-based child care		Back-up dependent care		Other educational advisory services		Total
	(In thousands)
Year ended December 31, 2017
Revenue	$	1,457,754	$	224,264	$	58,887	$	1,740,905
Amortization of intangible assets	30,259		1,539		763		32,561
Income from operations (1)	130,289		60,373		14,777		205,439
Year ended December 31, 2016
Revenue	$	1,321,699	$	200,106	$	48,036	$	1,569,841
Amortization of intangible assets	27,862		1,204		576		29,642
Income from operations (2)	129,693		57,620		9,925		197,238
Year ended December 31, 2015
Revenue	$	1,236,762	$	181,574	$	40,109	$	1,458,445
Amortization of intangible assets	26,690		725		574		27,989
Income from operations (3)	115,149		56,891		9,562		181,602


(1)	For the year ended December 31, 2017, income from operations includes transaction costs associated with the loss on the disposition of our remaining assets in Ireland of $3.7 million, and costs related to the May 2017 and November 2017 credit agreement amendments and secondary offerings of $3.3 million, all of which were allocated to the full service center-based child care segment.


(2)	For the year ended December 31, 2016, income from operations includes $2.5 million of costs associated with secondary offerings, completed acquisitions, an amendment to the credit agreement completed in January 2016, and a debt refinancing completed in November 2016, all of which were allocated to the full service center-based child care segment.


(3)	For the year ended December 31, 2015, income from operations includes $0.9 million of costs associated with secondary offerings and completed acquisitions, all of which were allocated to full service center-based child care segment.

Revenue and long-lived assets by geographic region are as follows (in thousands):



	Years ended December 31,
Revenue	2017		2016		2015
North America	$	1,353,032	$	1,277,165	$	1,182,629
Europe and other	387,873		292,676		275,816
Total revenue	$	1,740,905	$	1,569,841	$	1,458,445



	December 31,
Long-lived assets	2017		2016		2015
North America	$	333,526	$	322,267	$	308,469
Europe and other	241,659		207,165		121,267
Total long-lived assets	$	575,185	$	529,432	$	429,736

The classification “North America” is comprised of the Company’s United States, Canada and Puerto Rico operations and the classification “Europe and other” includes the United Kingdom, Netherlands, and India operations. Revenues in the United States were $1.3 billion in both 2017 and 2016, and $1.2 billion in 2015. Revenues in the United Kingdom were $328.0 million in 2017, $248.2 million in 2016, and $238.5 million in 2015. Long-lived assets were $331.8 million, $320.5 million, and $306.6 million at December 31, 2017, 2016, and 2015, respectively, in the United States, and $226.5 million, $193.9 million, and $107.8 million at December 31, 2017, 2016, and 2015, respectively, in the United Kingdom. Revenue and long-lived assets associated with other countries were not material.

Transactions with Related Parties	12 Months Ended
Transactions with Related Parties	Dec. 31, 2017
Related Party Transactions [Abstract]
Transactions with Related Parties	TRANSACTIONS WITH RELATED PARTIES Certain of the Company’s stockholders affiliated with Bain Capital Partners LLC sold shares of the Company’s common stock in underwritten secondary offerings totaling 8.2 million, 4.1 million, and 9.7 million shares in the years ended December 31, 2017, 2016, and 2015, respectively. The Company purchased 1.7 million, 1.0 million, and 2.1 million of the shares sold in the secondary offerings in 2017, 2016, and 2015, respectively, from investment funds affiliated with Bain Capital Partners LLC at the same price per share paid by the underwriter to the selling stockholders. As of December 31, 2017, investment funds affiliated with Bain Capital Partners LLC hold approximately 7.7% of the Company’s common stock and two members of the Company's board of directors are affiliated with Bain Capital Partners LLC.

Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (Unaudited)

QUARTERLY RESULTS (UNAUDITED)

In the opinion of the Company’s management, the accompanying unaudited interim consolidated financial statements contain all adjustments which are necessary for a fair presentation of the quarters presented. The operating results for any quarter are not necessarily indicative of the results of any future quarter.

Selected quarterly financial information follows for the years ended December 31, 2017 and 2016 (in thousands, except share and per share amounts):



	March 31, 2017		June 30, 2017		September 30, 2017		December 31, 2017
Revenue	$	422,164	$	445,546	$	433,316	$	439,879
Gross profit	104,934		114,341		103,194		108,141
Income from operations	51,404		56,806		44,963		52,266
Net income (1)	41,374		33,040		31,105		51,444
Allocation of net income to common stockholders:
Common stock—basic	41,151		32,828		30,905		51,111
Common stock—diluted	41,157		32,833		30,909		51,117
Earnings per common share:
Common stock—basic	$	0.69	$	0.56	$	0.53	$	0.88
Common stock—diluted	$	0.68	$	0.54	$	0.51	$	0.86


(1)	Net income in the quarter ended December 31, 2017 includes the impact of the Tax Act, which decreased tax expense by $22.3 million as more fully discussed in Note 10, “Income Taxes,” to the consolidated financial statements.



	March 31, 2016		June 30, 2016		September 30, 2016		December 31, 2016
Revenue	$	385,322	$	402,053	$	383,929	$	398,537
Gross profit	95,776		104,383		91,472		99,216
Income from operations	48,597		56,578		44,715		47,348
Net income	24,727		30,403		22,510		17,120
Allocation of net income to common stockholders:
Common stock—basic	24,517		30,131		22,306		16,965
Common stock—diluted	24,522		30,137		22,311		16,968
Earnings per common share:
Common stock—basic	$	0.41	$	0.51	$	0.38	$	0.29
Common stock—diluted	$	0.40	$	0.50	$	0.37	$	0.28

Organization and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Organization	Organization — Bright Horizons Family Solutions Inc. (“Bright Horizons” or the “Company”) provides center-based child care and early education, back-up dependent care (for children and elders), tuition reimbursement program management services, college admissions advisory services, and other support services in the United States, the United Kingdom, the Netherlands, Puerto Rico, Canada, and India. The Company provides services designed to help employers and families better address the challenges of work and family life primarily under multi-year contracts with employers who offer child care and other dependent care solutions, as well as other educational advisory services, as part of their employee benefits packages to improve employee engagement. The Company provides its center-based child care services under two general business models: a cost-plus model, where the Company is paid a fee by an employer client for managing a child care center on a cost-plus basis, and a profit and loss (“P&L”) model, where the Company assumes the financial risk of operating a child care center. The P&L model is further classified into two subcategories: (i) a sponsor model, where Bright Horizons provides child care and early education services on either an exclusive or priority enrollment basis for the employees of a specific employer sponsor; and (ii) a lease/consortium model, where the Company provides child care and early education services to the employees of multiple employers located within a specific real estate development (for example, an office building or office park), as well as to families in the surrounding community. In both the cost-plus and sponsor P&L models, the development of a new child care center, as well as ongoing maintenance and repair, is typically funded by an employer sponsor with whom the Company enters into a multi-year contractual relationship. In addition, employer sponsors typically provide subsidies for the ongoing provision of child care services for their employees. Under each model type, the Company retains responsibility for all aspects of operating the child care and early education center, including the hiring and paying of employees, contracting with vendors, purchasing supplies, and collecting tuition and related accounts receivable. The Company provides back-up dependent care services through its own centers and through our Back-Up Care Advantage (“BUCA”) program, which offers access to a contracted network of in-home care agencies and center-based providers in locations where the Company does not otherwise have centers with available capacity.
Principles of Consolidation	Principles of Consolidation — The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates — The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP” or “U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company’s significant accounting estimates in the preparation of the consolidated financial statements relate to the valuation of goodwill and other intangibles, and income taxes. Actual results may differ from management’s estimates.
Foreign Operations	Foreign Operations — The functional currency of the Company’s foreign subsidiaries is their local currency. The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at exchange rates in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period. The cumulative translation effect for subsidiaries using a functional currency other than the U.S. dollar is included in accumulated other comprehensive income or loss as a separate component of stockholders’ equity. The Company’s intercompany accounts are denominated in the functional currency of the foreign subsidiary. Gains and losses resulting from the remeasurement of intercompany receivables that the Company considers to be of a long-term investment nature are recorded as a cumulative translation adjustment in accumulated other comprehensive income or loss as a separate component of stockholders’ equity, while gains and losses resulting from the remeasurement of intercompany receivables from those foreign subsidiaries for which the Company anticipates settlement in the foreseeable future are recorded in the consolidated statement of income.
Fair Value of Financial Instruments	Fair Value of Financial Instruments — The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date and applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The Company uses observable inputs where relevant and whenever possible. Level 1 — Quoted prices are available in active markets for identical investments as of the reporting date. Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, and borrowings on the revolving credit facility approximates their fair value because of their short-term nature. The fair value of the Company's long-term debt is based on current bid prices, which approximates carrying value. As such, the Company's long-term debt was classified as Level 1, as defined under U.S. GAAP. As of December 31, 2017 and 2016, the carrying value and estimated fair value of long-term debt was $1.1 billion. In 2017, the Company entered into interest rate swap agreements, which were included in other assets on the consolidated balance sheets at fair value. As of December 31, 2017, the fair value of the interest rate swaps were $3.8 million, which were estimated using market-standard valuation models. Such models project future cash flows and discount the future amounts to a present value using market-based observable inputs. Additionally, the fair value of the interest rate swaps included consideration of credit risk. The Company used a potential future exposure model to estimate this credit valuation adjustment (“CVA.”) The inputs to the CVA were largely based on observable market data, with the exception of certain assumptions regarding credit worthiness. As the magnitude of the CVA was not a significant component of the fair value of the interest rate swaps, it was not considered a significant input. The fair value of the interest rate swaps is classified as Level 2, as defined under U.S. GAAP.
Concentrations of Credit Risk	Concentrations of Credit Risk — Financial instruments that potentially expose the Company to concentrations of credit risk consist mainly of cash and cash equivalents and accounts receivable. The Company mitigates its exposure by maintaining its cash and cash equivalents in financial institutions of high credit standing. The Company’s accounts receivable, which are derived primarily from the services it provides, are dispersed across many clients in various industries with no single client accounting for more than 10% of the Company’s net revenue or accounts receivable.
Cash and Cash Equivalents	Cash and Cash Equivalents — The Company considers all highly liquid investments with maturities, when purchased, of three months or less to be cash equivalents. Cash equivalents consist primarily of institutional money market accounts. There were no cash equivalent investments at December 31, 2017 and 2016. The Company’s cash management system provides for the funding of the main bank disbursement accounts on a daily basis as checks are presented for payment. Under this system, outstanding checks may be in excess of the cash balances at certain banks, creating book overdrafts.
Accounts Receivable	Accounts Receivable — The Company generates accounts receivable from fees charged to parents and employer sponsors and, to a lesser degree, government agencies. The Company monitors collections and payments and maintains a provision for estimated losses based on historical trends, in addition to provisions established for specific collection issues that have been identified. Accounts receivable are stated net of this allowance for doubtful accounts.
Fixed Assets	Fixed Assets — Property and equipment, including leasehold improvements, are carried at cost less accumulated depreciation or amortization. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or their estimated useful lives. The cost and accumulated depreciation of assets sold or otherwise disposed of are removed from the consolidated balance sheet and the resulting gain or loss is reflected in the consolidated statement of income. Expenditures for maintenance and repairs are expensed as incurred, whereas expenditures for improvements and replacements are capitalized. Depreciation is included in cost of services and selling, general and administrative expenses depending on the nature of the expenditure.
Business Combinations	Business Combinations — Business combinations are accounted for under the acquisition method of accounting. Amounts paid for an acquisition are allocated to the assets acquired and liabilities assumed based on their fair values at the date of acquisition. The accounting for business combinations requires estimates and judgment as to expectations of future cash flows of the acquired business, the allocation of those cash flows to identifiable intangible assets, and in determining the estimated fair value for assets acquired and liabilities assumed. The determination of fair values is based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. If actual results differ from these estimates, the amounts recorded in the financial statements could be impaired.
Goodwill and Intangible Assets	Goodwill and Intangible Assets — Goodwill is recorded when the consideration paid for an acquisition exceeds the fair value of the net tangible and identifiable intangible assets acquired. The Company’s intangible assets principally consist of various customer relationships (including both client and parent relationships) and trade names. Goodwill and intangible assets with indefinite lives are not subject to amortization, but are tested annually for impairment or more frequently if there are indicators of impairment. Indefinite lived intangible assets are also subject to an annual evaluation to determine whether events and circumstances continue to support an indefinite useful life. Goodwill impairment assessments are performed at the reporting unit level, which for Bright Horizons is at the operating segment level. In performing the goodwill impairment test, the Company may first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying value. Qualitative factors may include, but are not limited to, macroeconomic conditions, industry conditions, the competitive environment, changes in the market for the Company’s services, regulatory developments, cost factors, and entity specific factors such as overall financial performance and projected results. If an initial qualitative assessment indicates that it is more likely than not that the carrying value exceeds the fair value of a reporting unit, an additional quantitative evaluation is performed. Alternatively, the Company may elect to proceed directly to the quantitative impairment test. In performing the quantitative analysis, the Company compares the fair value of the reporting unit with its carrying amount, including goodwill. Fair value for each reporting unit is determined by estimating the present value of expected future cash flows, which are forecasted for each of the next ten years, applying a long-term growth rate to the final year, discounted using the Company’s estimated discount rate. If the fair value of the Company’s reporting unit exceeds its carrying amount, the goodwill of the reporting unit is considered not impaired. If the carrying amount of the Company’s reporting unit exceeds its fair value, the Company would recognize an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value, up to the amount of goodwill allocated to that reporting unit. The Company performed a qualitative assessment during the annual impairment review as of October 1, 2017 and concluded that it is not more likely than not that the fair value of the Company’s reporting units are less than their carrying amount. Therefore, no goodwill impairment charges were recorded in the years ended December 31, 2017, 2016, or 2015. We test certain trademarks that are determined to be indefinite-lived intangible assets by comparing the fair value of the trademarks with their carrying value. We estimate the fair value first by estimating the total revenue attributable to the trademarks and then by applying a royalty rate determined by an analysis of empirical, market-derived royalty rates for guideline intangible assets, consistent with the initial valuation of the intangibles. No impairment losses were recorded in the years ended December 31, 2017, 2016 or 2015 in relation to intangible assets. Intangible assets that are separable from goodwill and have determinable useful lives are valued separately and are amortized over the estimated period benefited, ranging from one to seventeen years. Intangible assets related to parent relationships are amortized using an accelerated method over their useful lives. All other intangible assets are amortized on a straight-line basis over their useful lives.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets — The Company reviews long-lived assets for possible impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Impairment is assessed by comparing the carrying amount of the asset to the estimated undiscounted future cash flows over the asset’s remaining life. If the estimated cash flows are less than the carrying amount of the asset, an impairment loss is recognized to reduce the carrying amount of the asset to its estimated fair value less any disposal costs.
Other Long Term Assets	Other Long-Term Assets — Other long-term assets includes a deposit of $8.0 million in the Company's wholly-owned captive insurance entity and a cost basis investment of $2.1 million in a private company, which we review for impairment whenever events or changes in circumstances indicate that the carrying amount of such asset may not be recoverable.
Deferred Revenue	Deferred Revenue — The Company records deferred revenue for prepaid tuition and fees received from clients in advance of services being performed. The Company is also a party to agreements where the performance of services extends beyond one year. In these circumstances, the Company records a long-term obligation and recognizes revenue over the period of the agreement as the services are rendered.
Leases	Leases and Deferred Rent — The Company leases space for certain of its centers and corporate offices. Leases are evaluated and classified as operating or capital for financial reporting purposes. The Company recognizes rent expense from operating leases with periods of free rent, tenant allowances and scheduled rent increases on a straight-line basis over the applicable lease term. The difference between rents paid and straight-line rent expense is recorded as deferred rent.
Discount on Long-Term Debt	Discount on Long-Term Debt — Original issue discounts on the Company’s debt are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization expense is included in interest expense in the consolidated statement of income.
Deferred Financing Costs	Deferred Financing Costs — Deferred financing costs are recorded as a reduction of long-term debt and are amortized over the life of the related debt instrument in accordance with the effective interest method. Amortization expense is included in interest expense in the consolidated statement of income.
Income Taxes	Income Taxes — The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for tax carryforwards, such as net operating losses. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the provision for income taxes in the period that includes the enactment date. The Company records a valuation allowance to reduce the carrying amount of deferred tax assets if it is more likely than not that such asset will not be realized. Additional income tax expense is recognized as a result of recording valuation allowances. The Company does not recognize a tax benefit on losses in foreign operations where it does not have a history of profitability. The Company records penalties and interest on income tax related items as a component of tax expense. Obligations for uncertain tax positions are recorded based on an assessment of whether the position is more likely than not to be sustained by the taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in income tax expense.
Revenue Recognition	Revenue Recognition — The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the fee is fixed and determinable, and collectability is reasonably assured. Center-based child care revenues consist primarily of tuition, which consists of amounts paid by parents, supplemented in some cases by payments from employer sponsors and, to a lesser extent, by payments from government agencies. Revenue may also include management fees, operating subsidies paid either in lieu of or to supplement parent tuition, and fees for other services. Revenue for center-based child care is recognized as the services are performed. The Company enters into contracts with its employer sponsors to manage and operate their child care and early education centers and/or for the provision of back-up dependent care and other educational advisory services under various terms. The Company’s contracts to operate child care and early education centers are generally three to ten years in length with varying renewal options. The Company’s contracts for back-up dependent care and other educational advisory services are generally one to three years in length with varying renewal options. Revenue for these services is recognized as they are performed.
Stock-based Compensation	Stock-Based Compensation — The Company accounts for stock-based compensation using a fair value method. Stock-based compensation expense is recognized in the consolidated financial statements based on the grant-date fair value of the awards that are expected to vest. This expense is recognized on a straight-line basis over the requisite service period, which generally represents the vesting period, of each separately vesting tranche. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model.
Comprehensive Income or Loss	Comprehensive Income or Loss — Comprehensive income or loss is comprised of net income or loss, foreign currency translation adjustments, and unrealized gains or losses from interest rate swaps, net of tax. The Company has not recorded a deferred tax liability related to state income taxes and foreign withholding taxes on the undistributed earnings of foreign subsidiaries that are intended to be indefinitely reinvested. Therefore, taxes are not provided for the related currency translation adjustments.
Earnings or Loss Per Share	Earnings Per Share — Net earnings per share is calculated using the two-class method, which is an earnings allocation formula that determines net income or loss per share for the holders of the Company’s common stock and unvested participating shares. Unvested participating shares are unvested share-based payment awards of restricted stock that participate in dividends with common stock. Net income available to stockholders is allocated on a pro rata basis to each share as if all of the earnings for the period had been distributed. Diluted net income or loss per share is calculated using the more dilutive of (1) the treasury stock method, or (2) the two-class method for all outstanding stock options
New Accounting Pronouncements	Pronouncement — In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation — Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this update simplify several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification on the statement of cash flows. The update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods with early adoption permitted. The Company adopted the standard prospectively on January 1, 2017, and as such, prior periods have not been adjusted. The adoption of this guidance impacted the Company’s income tax expense, effective tax rate, and weighted average shares outstanding. The Company continues to include a forfeiture assumption relative to its unvested awards. Upon adoption, the Company now recognizes all excess tax benefits and tax deficiencies as income tax benefits or expenses on the income statement, which were previously recorded to additional paid-in capital on the balance sheet. As a result, the Company decreased tax expense and increased net income by $26.5 million in the year ended December 31, 2017 in relation to the excess tax benefits associated with the exercise of stock options and vesting of restricted stock. Additionally, weighted average diluted common shares increased in the year ended December 31, 2017 by approximately 0.4 million shares under the new earnings per share methodology and tax benefits from stock options of $26.5 million were included with cash flows from operating activities as a component of net income rather than as cash flows from financing activities under previous guidance. New Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which provides a single comprehensive model for revenue recognition. The FASB has subsequently issued various ASUs which amend or clarify specific areas of the guidance. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This new guidance is effective for the Company beginning January 1, 2018 and can be adopted using either a full retrospective or modified approach. The Company will adopt the standard using the modified approach. The Company established an implementation team to assist with its assessment of the impact of the new revenue guidance on its operations, consolidated financial statements and related disclosures. The Company’s assessment has included performing analysis for each revenue stream identified, assessing the potential differences in recognition and measurement that may result from adopting this standard, evaluating principal versus agent considerations, and assessing whether the Company meets certain practical expedients. Based on the results of the assessment, the adoption of this standard will not have a material impact on the timing or amount of revenue recognized upon adoption and any cumulative prior period adjustment is immaterial and therefore will not be recorded to the opening balance of retained earnings upon adoption. The Company also anticipates changes to its disclosures to comply with the new disclosure requirements under Topic 606. The Company is implementing the necessary changes to its revenue recognition accounting policies and controls to support recognition and disclosure under the new standard. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This standard amends the existing guidance and requires lessees to recognize on the balance sheet assets and liabilities for the rights and obligations created by those leases with lease terms longer than twelve months. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018, and is to be applied using a modified retrospective approach. Early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of this ASU on the Company's consolidated financial statements. Based on its preliminary assessment, the Company anticipates that the adoption of this standard will have a material impact on the Company's consolidated financial statements, as all long-term leases will be capitalized on the consolidated balance sheet. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities (Topic 815), which expands and refines hedge accounting for both non-financial and financial risk components and aligns the recognition and presentation of the effects of the hedging instrument and the hedged item in the financial statements. The guidance also makes certain targeted improvements to simplify the application of hedge accounting guidance and ease the administrative burden of hedge documentation requirements and assessing hedge effectiveness. This ASU is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years, with early adoption permitted. The new guidance with respect to cash flow and net investment hedge relationships existing on the date of adoption must be applied on a modified retrospective basis, and the new presentation and disclosure requirements must be applied on a prospective basis. This standard is not expected to have a significant impact on the Company's consolidated financial statements and related disclosures.

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Allocation of Purchase Price

The purchase price for this acquisition has been allocated based on the fair value of the acquired assets and assumed liabilities at the date of acquisition as follows (in thousands):



	At acquisition date As reported December 31, 2016			Measurement period adjustments			At acquisition date As reported December 31, 2017
Cash	$	5,210		$	75		$	5,285
Prepaid expenses and other assets	5,700			(237		)	5,463
Fixed assets	96,868			(1,368		)	95,500
Intangible assets	10,540			1,860			12,400
Goodwill	122,714			(5,914		)	116,800
Total assets acquired	241,032			(5,584		)	235,448
Accounts payable and accrued expenses	(18,696		)	1,569			(17,127		)
Deferred revenue and parent deposits	(5,394		)	1,026			(4,368		)
Deferred tax liabilities	(7,793		)	2,993			(4,800		)
Other long-term liabilities	(3,048		)	(4		)	(3,052		)
Total liabilities assumed	(34,931		)	5,584			(29,347		)
Purchase price	$	206,101		$	—		$	206,101

Summary of Operating Results



	Pro forma (Unaudited)
	Years ended December 31,
	2016		2015
Revenue	$	1,649,665	$	1,548,560
Net income	$	96,033	$	89,404

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):



	Full service center-based child care			Back-up dependent care			Other educational advisory services		Total
Balance at December 31, 2015	$	965,114		$	158,894		$	23,801	$	1,147,809
Additions from acquisitions	139,539			9,214			—		148,753
Adjustments to prior year acquisitions	73			—			—		73
Effect of foreign currency translation	(28,930		)	—			—		(28,930		)
Balance at December 31, 2016	1,075,796			168,108			23,801		1,267,705
Additions from acquisitions	14,269			—			—		14,269
Adjustments to prior year acquisitions	(5,596		)	(3		)	—		(5,599		)
Effect of foreign currency translation	30,417			—			—		30,417
Balance at December 31, 2017	$	1,114,886		$	168,105		$	23,801	$	1,306,792

Intangible Assets Subject to Amortization

The Company also has intangible assets, which consist of the following at December 31, 2017 and 2016 (in thousands):



December 31, 2017:	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	396,428	$	(234,742	)	$	161,686
Trade names	7 years	10,224		(4,566		)	5,658
		406,652		(239,308		)	167,344
Indefinite-lived intangibles:
Trade names	N/A	181,196		—			181,196
		$	587,848	$	(239,308	)	$	348,540



December 31, 2016:	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	392,820	$	(205,342	)	$	187,478
Trade names	7 years	8,283		(2,961		)	5,322
Non-compete agreements	N/A	49		(49		)	—
		401,152		(208,352		)	192,800
Indefinite-lived intangibles:
Trade names	N/A	181,766		—			181,766
		$	582,918	$	(208,352	)	$	374,566

Estimated Future Amortization Expense

The Company estimates that it will record amortization expense related to intangible assets existing as of December 31, 2017 as follows over the next five years (in thousands):



	Estimated amortization expense
2018	$	30,134
2019	$	27,740
2020	$	26,833
2021	$	25,140
2022	$	22,927

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2017

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):



	December 31,
	2017		2016
Prepaid rent and other occupancy costs	$	15,553	$	13,932
Prepaid workers compensation claims	6,136		4,609
Prepaid insurance	6,007		3,134
Reimbursable costs	4,186		6,101
Prepaid income taxes	1,249		649
Other prepaid expenses and current assets	18,965		14,129
	$	52,096	$	42,554

Fixed Assets (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Summary of Fixed Assets

Fixed assets consist of the following (dollars in thousands):



	Estimated useful lives (Years)	December 31,
	Estimated useful lives (Years)	2017			2016
Buildings	20 – 40	$	182,701		$	174,168
Furniture, equipment and software	3 – 10	206,161			178,872
Leasehold improvements	Shorter of the lease term or the estimated useful life	423,624			365,707
Land	—	103,680			92,666
Total fixed assets		916,166			811,413
Accumulated depreciation		(340,981		)	(281,981		)
Fixed assets, net		$	575,185		$	529,432

Credit Arrangements and Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Outstanding term loan borrowings were as follows at December 31, 2017 and 2016 (in thousands):



	December 31,
	2017			2016
Term loans	$	1,066,938		$	1,075,000
Deferred financing costs and original issue discount	(10,177		)	(10,241		)
Total debt	1,056,761			1,064,759
Less current maturities	10,750			10,750
Long-term debt	$	1,046,011		$	1,054,009

Schedule of Derivative Assets at Fair Value

December 31, 2017, the fair value of the interest rate swap agreements was as follows (in thousands):



	Consolidated balance sheet classification	December 31, 2017
Interest rate swaps - asset	Other assets	$	3,767

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

For the year ended December 31, 2017, the effect of the interest rate swap agreements on other comprehensive income was as follows (in thousands):



Derivatives designated as cash flow hedging instruments	Amount of gain recognized in other comprehensive income			Consolidated statement of income classification	Amount of net loss reclassified into earnings			Total effect on other comprehensive income
Interest rate swaps	$	3,258		Interest expense—net	$	(509	)	$	3,767
Income tax effect	(1,303		)	Income tax expense	204			(1,507		)
Net of income taxes	$	1,955			$	(305	)	$	2,260

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of Income (Loss) before Income Taxes

Income before income taxes consists of the following (in thousands):



	Years ended December 31,
	2017		2016		2015
United States	$	116,225	$	132,846	$	134,611
Foreign	45,175		10,351		5,545
Total	$	161,400	$	143,197	$	140,156

Components of Income Tax (Benefit) Expense

Income tax expense consists of the following (in thousands):



	Years ended December 31,
	2017			2016			2015
Current tax expense
Federal	$	29,733		$	42,691		$	29,236
State	4,531			10,752			8,723
Foreign	7,735			7,115			9,028
	41,999			60,558			46,987
Deferred tax (benefit) expense
Federal	(36,794		)	(6,463		)	(11,014		)
State	612			(2,069		)	6,776
Foreign	(1,380		)	(3,589		)	3,480
	(37,562		)	(12,121		)	(758		)
Income tax expense	$	4,437		$	48,437		$	46,229

Reconciliation of Federal Statutory Rate to Effective Rate

The following is a reconciliation of the U.S. federal statutory rate to the effective rate on pretax income (in thousands):



	Years ended December 31,
	2017			2016			2015
Federal tax expense computed at statutory rate	$	56,490		$	50,119		$	49,055
State tax expense, net of federal tax	2,881			6,374			5,849
Valuation allowance, net	(1,028		)	(107		)	(185		)
Intercompany interest	(5,074		)	(6,953		)	(6,919		)
Permanent differences and other, net	1,041			(389		)	(901		)
Stock-based compensation	(22,757		)	—			—
Change in tax rate	(32,844		)	(96		)	319
Transition Tax	11,027			—			—
Change to uncertain tax positions, net	614			432			(333		)
Foreign rate differential	(5,913		)	(943		)	(656		)
Income tax expense	$	4,437		$	48,437		$	46,229

Components of Net Deferred Tax Liability

Significant components of the Company’s net deferred tax liability are as follows (in thousands):



	December 31,
	2017			2016
Deferred tax assets:
Reserve on assets	$	605		$	342
Net operating loss carryforwards	304			1,347
Liabilities not yet deductible	28,951			39,401
Deferred revenue	2,934			3,370
Stock-based compensation	8,024			13,855
Depreciation	—			118
Other	2,608			1,620
	43,426			60,053
Valuation allowance	—			(1,028		)
Total deferred tax assets	43,426			59,025
Deferred tax liabilities:
Intangible assets	(97,674		)	(143,806		)
Depreciation	(19,685		)	(26,930		)
Total deferred tax liabilities	(117,359		)	(170,736		)
Net deferred tax liability	$	(73,933	)	$	(111,711	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows (in thousands):



	Years ended December 31,
	2017		2016			2015
Beginning balance	$	1,096	$	706		$	713
Additions for tax positions of prior years	—		—			353
Additions for tax positions of current year	650		443			353
Settlements	—		—			(50		)
Reductions for tax positions of prior years	—		(27		)	—
Lapses of statutes of limitations	—		—			(663		)
Effect of foreign currency adjustments	157		(26		)	—
Ending balance	$	1,903	$	1,096		$	706

Stockholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Weighted Average Assumptions for Fair Value of Stock Option

The fair value of each stock option granted was estimated on the date of grant using the Black-Scholes option pricing model and the following weighted average assumptions:



	Years ended December 31,
	2017	2016	2015
Expected dividend yield	0.0%	0.0%	0.0%
Expected stock price volatility	30.0%	30.0%	30.0%
Risk free interest rate	1.9%	1.4%	1.5%
Expected life of options (years)	5.3	5.3	5.3
Weighted average fair value per share of options granted during the period	$22.08	$19.35	$15.37

Nonvested Restricted Stock Shares Activity

The table below reflects restricted stock activity under the Company’s equity plan for the year ended December 31, 2017.



	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (In millions)
Non-vested restricted stock shares at January 1, 2017	538,795		$	22.75	$	25.5
Granted	129,780		35.75
Vested	(287,625	)	18.69
Forfeited	—		—
Non-vested restricted stock shares at December 31, 2017	380,950		$	30.24	$	24.6

Common Stock

Stock Option Activity

The table below reflects stock option activity under the Company’s equity plan for the year ended December 31, 2017.



	Weighted Average Remaining Contractual Life in Years
	Weighted Average Remaining Contractual Life in Years	Number of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2017	4.5	3,483,877		$	32.34
Granted		464,175		72.48
Exercised		(1,192,160	)	18.98
Forfeited		(81,050	)	56.75
Outstanding at December 31, 2017	4.4	2,674,842		$	44.53	$	132.3
Exercisable at December 31, 2017	3.5	1,023,230		$	22.07	$	73.6
Vested and expected to vest at December 31, 2017	4.3	2,547,213		$	43.48	$	128.7

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share, Basic

The following table sets forth the computation of earnings per share using the two-class method (in thousands, except share and per share amounts):



	Years ended December 31,
	2017		2016		2015
Basic earnings per share:
Net income	$	156,963	$	94,760	$	93,927
Allocation of net income to common stockholders:
Common stock	$	155,995	$	93,919	$	93,287
Unvested participating shares	968		841		640
	$	156,963	$	94,760	$	93,927
Weighted average number of common shares:
Common stock	58,873,196		59,229,069		60,835,574
Unvested participating shares	366,029		531,364		417,285
Earnings per common share:
Common stock	$	2.65	$	1.59	$	1.53

Earnings Per Share, Diluted



	Years ended December 31,
	2017			2016			2015
Diluted earnings per share:
Earnings allocated to common stock	$	155,995		$	93,919		$	93,287
Plus earnings allocated to unvested participating shares	968			841			640
Less adjusted earnings allocated to unvested participating shares	(947		)	(822		)	(624		)
Earnings allocated to common stock	$	156,016		$	93,938		$	93,303
Weighted average number of common shares:
Common stock	58,873,196			59,229,069			60,835,574
Effect of dilutive securities	1,380,495			1,365,826			1,525,204
	60,253,691			60,594,895			62,360,778
Earnings per common share:
Common stock	$	2.59		$	1.55		$	1.50

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Payments under Non-Cancelable Operating Leases

Future minimum payments under noncancelable operating leases as of December 31, 2017 are as follows for the years ending December 31 (in thousands):



2018	$	113,161
2019	108,199
2020	100,638
2021	88,675
2022	83,119
Thereafter	508,144
Total future minimum lease payments	$	1,001,936

Future Minimum Payments of Long-Term Debt

Future minimum payments of long-term debt are as follows for the years ending December 31 (in thousands):



2018	$	10,750
2019	10,750
2020	10,750
2021	10,750
2022	10,750
Thereafter	1,013,188
Total future principal payments	$	1,066,938

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Income from Operations by Segment



	Full service center-based child care		Back-up dependent care		Other educational advisory services		Total
	(In thousands)
Year ended December 31, 2017
Revenue	$	1,457,754	$	224,264	$	58,887	$	1,740,905
Amortization of intangible assets	30,259		1,539		763		32,561
Income from operations (1)	130,289		60,373		14,777		205,439
Year ended December 31, 2016
Revenue	$	1,321,699	$	200,106	$	48,036	$	1,569,841
Amortization of intangible assets	27,862		1,204		576		29,642
Income from operations (2)	129,693		57,620		9,925		197,238
Year ended December 31, 2015
Revenue	$	1,236,762	$	181,574	$	40,109	$	1,458,445
Amortization of intangible assets	26,690		725		574		27,989
Income from operations (3)	115,149		56,891		9,562		181,602


(1)	For the year ended December 31, 2017, income from operations includes transaction costs associated with the loss on the disposition of our remaining assets in Ireland of $3.7 million, and costs related to the May 2017 and November 2017 credit agreement amendments and secondary offerings of $3.3 million, all of which were allocated to the full service center-based child care segment.


(2)	For the year ended December 31, 2016, income from operations includes $2.5 million of costs associated with secondary offerings, completed acquisitions, an amendment to the credit agreement completed in January 2016, and a debt refinancing completed in November 2016, all of which were allocated to the full service center-based child care segment.


(3)	For the year ended December 31, 2015, income from operations includes $0.9 million of

Revenue and Long-Lived Assets by Geographic Region

Revenue and long-lived assets by geographic region are as follows (in thousands):



	Years ended December 31,
Revenue	2017		2016		2015
North America	$	1,353,032	$	1,277,165	$	1,182,629
Europe and other	387,873		292,676		275,816
Total revenue	$	1,740,905	$	1,569,841	$	1,458,445



	December 31,
Long-lived assets	2017		2016		2015
North America	$	333,526	$	322,267	$	308,469
Europe and other	241,659		207,165		121,267
Total long-lived assets	$	575,185	$	529,432	$	429,736

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Selected quarterly financial information follows for the years ended December 31, 2017 and 2016 (in thousands, except share and per share amounts):



	March 31, 2017		June 30, 2017		September 30, 2017		December 31, 2017
Revenue	$	422,164	$	445,546	$	433,316	$	439,879
Gross profit	104,934		114,341		103,194		108,141
Income from operations	51,404		56,806		44,963		52,266
Net income (1)	41,374		33,040		31,105		51,444
Allocation of net income to common stockholders:
Common stock—basic	41,151		32,828		30,905		51,111
Common stock—diluted	41,157		32,833		30,909		51,117
Earnings per common share:
Common stock—basic	$	0.69	$	0.56	$	0.53	$	0.88
Common stock—diluted	$	0.68	$	0.54	$	0.51	$	0.86


(1)	Net income in the quarter ended December 31, 2017 includes the impact of the Tax Act, which decreased tax expense by $22.3 million as more fully discussed in Note 10, “Income Taxes,” to the consolidated financial statements.



	March 31, 2016		June 30, 2016		September 30, 2016		December 31, 2016
Revenue	$	385,322	$	402,053	$	383,929	$	398,537
Gross profit	95,776		104,383		91,472		99,216
Income from operations	48,597		56,578		44,715		47,348
Net income	24,727		30,403		22,510		17,120
Allocation of net income to common stockholders:
Common stock—basic	24,517		30,131		22,306		16,965
Common stock—diluted	24,522		30,137		22,311		16,968
Earnings per common share:
Common stock—basic	$	0.41	$	0.51	$	0.38	$	0.29
Common stock—diluted	$	0.40	$	0.50	$	0.37	$	0.28

Organization and Significant Accounting Policies - Additional Information (Detail) - USD ($)		12 Months Ended			59 Months Ended
	Jan. 30, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Stock Offerings [Abstract]
Issuance of Class L common stock (in shares)	11,600,000
Proceed from issuance of initial public offering	$ 233,300,000
Preferred stock, authorized (in shares)		25,000,000	25,000,000		25,000,000
Offering cost incurred		$ 188,939,000	$ 163,967,000	$ 148,164,000
Long term debt, carry amount		1,066,938,000	1,075,000,000		$ 1,066,938,000
Foreign Currency [Abstract]
Cumulative translation adjustment, net of tax, period increase (decrease)		1,700,000
Cash and Cash Equivalents [Abstract]
Cash equivalent investments		0	0		0
Book overdrafts		$ 18,015,000	10,966,000.000		18,015,000
Goodwill and Intangible Assets [Abstract]
Fair value for each reporting unit, period		10 years
Goodwill, Impairment Loss		$ 0	0	0
Impairment losses		0	0	0
Impairment of Long-Lived Assets [Abstract]
Fixed asset impairment (Less than $0.1 million in 2016 and 2015)			$ 100,000	$ 100,000
Asset impairment charges		200,000
Other Long-term Assets [Abstract]
Deposits with captive insurance entity		8,000,000			8,000,000
Other long term assets, cost basis investment		2,100,000			$ 2,100,000
New Accounting Pronouncements [Abstract]
Excess tax benefits from stock option exercises		$ 26,500,000
Incremental common shares attributable to dilutive effect of share-based payment arrangements		60,253,691	60,594,895	62,360,778
Accounting Standards Update 2016-09
New Accounting Pronouncements [Abstract]
Excess tax benefits from stock option exercises		$ 26,500,000
Incremental common shares attributable to dilutive effect of share-based payment arrangements		400,000
Operate Child Care and Early Education Centers
Revenue Recognition [Abstract]
Service contract length, minimum		3 years
Service contract length, maximum		10 years
Back-up Dependent Care
Revenue Recognition [Abstract]
Service contract length, minimum		1 year
Service contract length, maximum		3 years
Minimum
Goodwill and Intangible Assets [Abstract]
Finite lived intangible assets, estimated useful life		1 year
Maximum
Goodwill and Intangible Assets [Abstract]
Finite lived intangible assets, estimated useful life		17 years
Secondary Offering
Stock Offerings [Abstract]
Issuance of Class L common stock (in shares)		8,200,000	4,100,000	9,700,000	47,700,000
Offering cost incurred		$ 500,000	$ 500,000	$ 600,000
Common Class A
Stock Offerings [Abstract]
Preferred stock, authorized (in shares)	25,000,000
Sponsor \| Secondary Offering
Stock Offerings [Abstract]
Stock repurchased and retired (in shares)		1,700,000	1,000,000	2,100,000
Fair Value, Inputs, Level 1 \| Estimate of Fair Value Measurement
Stock Offerings [Abstract]
Long-term debt fair value		$ 1,100,000,000	$ 1,100,000,000		$ 1,100,000,000
Interest Rate Swap \| Fair Value, Inputs, Level 2 \| Estimate of Fair Value Measurement
Stock Offerings [Abstract]
Interest rate swaps - asset		$ 3,767,000			$ 3,767,000

Organization and Significant Accounting Policies - Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 1,054	$ 1,556	$ 1,235
Provision	2,537	839	1,322
Write offs and recoveries	(1,162)	(1,341)	(1,001)
Ending balance	$ 2,429	$ 1,054	$ 1,556

Acquisitions - Additional Information (Detail) $ in Thousands				3 Months Ended								12 Months Ended
	Nov. 10, 2016 USD ($) property	Jul. 15, 2015 USD ($) Center	May 19, 2015 USD ($) Center	Dec. 31, 2017 USD ($) Center	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) Center Business	Dec. 31, 2016 USD ($) Center Business	Dec. 31, 2015 USD ($) Center Business
Business Acquisition [Line Items]
Goodwill				$ 1,306,792				$ 1,267,705				$ 1,306,792	$ 1,267,705	$ 1,147,809
Total revenues contributed by acquired business				$ 439,879	$ 433,316	$ 445,546	$ 422,164	398,537	$ 383,929	$ 402,053	$ 385,322	1,740,905	1,569,841	1,458,445
UNITED STATES
Business Acquisition [Line Items]
Total revenues contributed by acquired business												1,300,000		1,200,000
United Kingdom
Business Acquisition [Line Items]
Total revenues contributed by acquired business												$ 328,000	248,200	$ 238,500
IRELAND
Business Acquisition [Line Items]
Number Of Properties Disposed \| Center				3								3
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal												$ 3,700
Income (Loss) from Subsidiaries, Tax Expense (Benefit)												7,000
Conchord Limited Asquith
Business Acquisition [Line Items]
Number of centers acquired	0
Cash acquired				$ 5,285								5,285
Goodwill				116,800								116,800
Intangible assets consisting of customer relationships and trade names				12,400								12,400
Deferred tax liabilities				(4,800)								(4,800)
Acquisition related costs													$ 1,400
Fixed assets				95,500								95,500
Properties acquired \| property	39
Transaction costs				4,300								4,300
Total revenues contributed by acquired business												$ 11,300
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| Business												7	4	6
Cash consideration to acquire business, gross												$ 21,500	$ 18,100	$ 20,500
Cash acquired				300				300				300	300
Business combination, contingent consideration, liability				200								200
Goodwill				14,300				17,100				14,300	17,100	18,500
Intangible assets consisting of customer relationships and trade names				2,300				3,300				2,300	$ 3,300	$ 2,700
Intangible asset useful life													5 years	5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings				7,300								7,300
Deferred tax liabilities				(600)								(600)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ (1,300)				1,800				$ (1,300)	$ 1,800
Business Combination, Consideration Transferred, Liabilities Incurred													$ 1,100	$ 800
Cash Acquired from Acquisition														$ 300
Series of Individually Immaterial Business Acquisitions [Member] \| NETHERLANDS
Business Acquisition [Line Items]
Number of centers acquired \| Center												10
Series of Individually Immaterial Business Acquisitions [Member] \| UNITED STATES
Business Acquisition [Line Items]
Number of centers acquired \| Center												3	4	4
Cash consideration to acquire business, gross													$ 10,400
Cash acquired								300					300
Business combination, contingent consideration, liability								3,800					3,800
Goodwill								9,200					9,200
Intangible assets consisting of customer relationships and trade names								4,900					$ 4,900
Intangible asset useful life													5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net								400					$ 400
Series of Individually Immaterial Business Acquisitions [Member] \| United Kingdom
Business Acquisition [Line Items]
Number of centers acquired \| Center												1	8	4
Series of Individually Immaterial Business Acquisitions [Member] \| Maximum
Business Acquisition [Line Items]
Intangible asset useful life												5 years
Hildebrandt Learning Centers, LLC
Business Acquisition [Line Items]
Number of centers acquired \| Center			40
Cash consideration to acquire business, gross			$ 19,200
Goodwill			13,200
Intangible assets consisting of customer relationships and trade names			$ 5,700
Intangible asset useful life			12 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 300
Fixed assets			500
Business Combination, Consideration Transferred, Liabilities Incurred			500
Cash Acquired from Acquisition			$ 1,500
Active Learning Childcare Limited
Business Acquisition [Line Items]
Number of centers acquired \| Center		9
Cash consideration to acquire business, gross		$ 42,200
Goodwill		31,100
Intangible assets consisting of customer relationships and trade names		$ 3,800
Intangible asset useful life		5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 1,800
Fixed assets		9,800
Cash Acquired from Acquisition		2,800
Deferred tax liabilities, current		$ 700
Hildebrandt Learning Centers and Active Learning Childcare Limited [Member]
Business Acquisition [Line Items]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual														$ 29,600
Technology-Based Intangible Assets \| Series of Individually Immaterial Business Acquisitions [Member] \| UNITED STATES
Business Acquisition [Line Items]
Intangible assets consisting of customer relationships and trade names								$ 2,600					$ 2,600
Customer Relationships \| Conchord Limited Asquith
Business Acquisition [Line Items]
Intangible assets consisting of customer relationships and trade names	$ 9,900
Intangible asset useful life	5 years
Customer Relationships \| Series of Individually Immaterial Business Acquisitions [Member] \| Minimum
Business Acquisition [Line Items]
Intangible asset useful life												3 years
Trademarks \| Conchord Limited Asquith
Business Acquisition [Line Items]
Intangible assets consisting of customer relationships and trade names	$ 2,500
Intangible asset useful life	6 years

Acquisitions - Allocation of Purchase Price (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 10, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 1,306,792	$ 1,267,705	$ 1,147,809
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Cash consideration to acquire business, gross		21,500	18,100	20,500
Business combination, contingent consideration, liability		200
Business Combination, Consideration Transferred, Liabilities Incurred			1,100	800
Cash Acquired from Acquisition				300
Cash		300	300
Intangible assets		2,300	3,300	2,700
Goodwill		14,300	17,100	$ 18,500
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		(1,300)	1,800
Conchord Limited Asquith
Business Acquisition [Line Items]
Cash		5,285
Prepaid expenses and other assets		5,463
Fixed assets		95,500
Intangible assets		12,400
Goodwill		116,800
Purchase price	$ 206,100	$ 206,101
UNITED STATES \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Cash consideration to acquire business, gross			10,400
Business combination, contingent consideration, liability			3,800
Cash			300
Intangible assets			4,900
Goodwill			9,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 400

Acquisitions Acquisitions - Schedule Of Purchase Price Allocation And Measurement Period Adjustments (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 10, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 1,306,792	$ 1,267,705	$ 1,147,809
Conchord Limited Asquith
Business Acquisition [Line Items]
Cash acquired		5,285
Prepaid expense and other assets		5,463
Fixed assets		95,500
Intangible assets consisting of customer relationships and trade names		12,400
Goodwill		116,800
Total assets acquired		235,448
Accounts payable and accrued expenses		(17,127)
Deferred revenue and parent deposits		(4,368)
Deferred tax liabilities		(4,800)
Other long-term liabilities		(3,052)
Total liabilities assumed		(29,347)
Purchase price	$ 206,100	206,101
Adjustment, cash and cash equivalents		75
Adjustment, prepaid expense and other assets		(237)
Adjustment, property, plant, and equipment		(1,368)
Adjustment, intangibles		1,860
Goodwill, purchase accounting adjustments		(5,914)
Adjustments, assets		(5,584)
Adjustment, accounts payable and accrued expenses		1,569
Adjustment, deferred revenue and parent deposits		1,026
Adjustment, deferred tax liabilities		2,993
Adjustment, noncurrent liabilities, other		(4)
Adjustment, liabilities		(5,584)
Adjustment, consideration transferred		$ 0
Scenario, Previously Reported \| Conchord Limited Asquith
Business Acquisition [Line Items]
Cash acquired			5,210
Prepaid expense and other assets			5,700
Fixed assets			96,868
Intangible assets consisting of customer relationships and trade names			10,540
Goodwill			122,714
Total assets acquired			241,032
Accounts payable and accrued expenses			(18,696)
Deferred revenue and parent deposits			(5,394)
Deferred tax liabilities			(7,793)
Other long-term liabilities			(3,048)
Total liabilities assumed			(34,931)
Purchase price			$ 206,101

Acquisitions - Summary of Operating Results (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Hildebrandt Learning Centers and Active Learning Childcare Limited [Member]
Business Acquisition [Line Items]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual		$ 29,600
Conchord Limited Asquith
Business Acquisition [Line Items]
Revenue	$ 1,649,665	1,548,560
Net income	$ 96,033	$ 89,404

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Beginning balance	$ 1,267,705	$ 1,147,809
Additions from acquisitions	14,269	148,753
Adjustments to prior year acquisitions	(5,599)	73
Effect of foreign currency translation	30,417	(28,930)
Ending balance	1,306,792	1,267,705
Full service center-based child care
Goodwill [Roll Forward]
Beginning balance	1,075,796	965,114
Additions from acquisitions	14,269	139,539
Adjustments to prior year acquisitions	(5,596)	73
Effect of foreign currency translation	30,417	(28,930)
Ending balance	1,114,886	1,075,796
Back-up dependent care
Goodwill [Roll Forward]
Beginning balance	168,108	158,894
Additions from acquisitions	0	9,214
Adjustments to prior year acquisitions	(3)	0
Effect of foreign currency translation	0	0
Ending balance	168,105	168,108
Other educational advisory services
Goodwill [Roll Forward]
Beginning balance	23,801	23,801
Additions from acquisitions	0	0
Adjustments to prior year acquisitions	0	0
Effect of foreign currency translation	0	0
Ending balance	$ 23,801	$ 23,801

Goodwill and Intangible Assets - Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Cost	$ 406,652	$ 401,152
Accumulated amortization	(239,308)	(208,352)
Net carrying amount	167,344	192,800
Cost	587,848	582,918
Net carrying amount	$ 348,540	$ 374,566
Customer relationships
Intangible Assets [Line Items]
Weighted average amortization period	15 years	15 years
Cost	$ 396,428	$ 392,820
Accumulated amortization	(234,742)	(205,342)
Net carrying amount	$ 161,686	$ 187,478
Trade names
Intangible Assets [Line Items]
Weighted average amortization period	7 years	7 years
Cost	$ 10,224	$ 8,283
Accumulated amortization	(4,566)	(2,961)
Net carrying amount	$ 5,658	$ 5,322
Non-compete agreements
Intangible Assets [Line Items]
Weighted average amortization period	0 years	0 years
Cost		$ 49
Accumulated amortization		(49)
Net carrying amount		0
Trade names
Intangible Assets [Line Items]
Indefinite-lived intangibles	$ 181,196	$ 181,766

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 32,561	$ 29,642	$ 27,989

Goodwill and Intangible Assets - Estimated Amortization Expense Related to Intangible Assets (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2017	$ 30,134
2018	27,740
2019	26,833
2020	25,140
2021	$ 22,927

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Prepaid rent and other occupancy costs	$ 15,553	$ 13,932
Prepaid workers compensation claims	6,136	4,609
Prepaid insurance	6,007	3,134
Reimbursable costs	4,186	6,101
Prepaid income taxes	1,249	649
Other prepaid expenses and current assets	18,965	14,129
Prepaid expenses and other current assets	52,096	42,554
Deposits	$ 5,200	$ 3,100

Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 916,166	$ 811,413
Accumulated depreciation and amortization	(340,981)	(281,981)
Fixed assets, net	575,185	529,432
Buildings
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 182,701	174,168
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Fixed assets, useful life	20 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Fixed assets, useful life	40 years
Furniture, equipment and software
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 206,161	178,872
Furniture, equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Fixed assets, useful life	3 years
Furniture, equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Fixed assets, useful life	10 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Leasehold improvements	Shorter of the lease term or the estimated useful life
Total fixed assets	$ 423,624	365,707
Land
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 103,680	$ 92,666

Fixed Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Construction in progress	$ 31,200	$ 26,400
Depreciation expense	62,200	$ 55,600	$ 50,700
Conchord Limited Asquith
Property, Plant and Equipment [Line Items]
Fixed assets	$ 95,500

Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued payroll and employee benefits	$ 56,817	$ 59,258
Accounts payable	31,719	26,171
Accrued insurance	8,565	5,718
Accrued occupancy costs	3,400	3,102
Accrued professional fees	2,693	2,376
Accrued interest	370	2,985
Other accrued expenses	29,333	25,790
Accounts payable and accrued expenses	$ 132,897	$ 125,400

Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Customer amounts on deposit	$ 17,294	$ 14,688
Deferred rent and other occupancy costs	5,589	4,796
Income taxes payable	4,680	3,081
Liability for unvested restricted stock	3,487	4,733
Other current liabilities	3,162	1,440
Other current liabilities	$ 34,212	$ 28,738

Other Long-Term Liabilities - Summary of Other Long-Term Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Customer amounts on deposit	$ 16,450	$ 14,353
Liabilities for workers compensation claims	15,812	16,572
Transition tax payable	9,648	0
Liability for unvested restricted stock	7,757	7,546
Deferred compensation	5,299	2,793
Asset retirement obligations	4,045	3,733
Liability for uncertain tax positions	1,903	1,096
Other long-term liabilities	3,257	5,955
Other long-term liabilities	$ 64,171	$ 52,048

Credit Arrangements and Debt Obligations - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Borrowings [Line Items]
Term loans	$ 1,066,938	$ 1,075,000
Deferred financing costs and original issue discount	(10,177)	(10,241)
Total debt	1,056,761	1,064,759
Less current maturities	10,750	10,750
Long-term debt	$ 1,046,011	$ 1,054,009

Credit Arrangements and Debt Obligations - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 07, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Oct. 16, 2017	Jan. 25, 2016
Debt Instrument [Line Items]
Borrowings on revolving credit facility		$ 127,100	$ 76,000
Amortization of deferred financing costs		1,400	2,200	$ 2,200
Amortization of original debt issuance costs		400	1,300	1,400
Loss on extinguishment of debt		0	$ (11,117)	$ 0
Proceeds of debt used for business combination	$ 150,000
Fees associated with amendments of debt		$ 2,800
Derivative, average fixed interest rate					3.90%
Derivative, variable interest rate					0.75%
Bank Base Rate
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		1.00%
Eurocurrency
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		2.00%
Senior Credit Facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 1,300,000
Debt issuance, principal amount		225,000				$ 100,000
Term Loan \| Senior Credit Facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 1,100,000
Effective interest rate for the term loans		3.57%	3.50%	4.10%
Debt issuance, weighted average interest rate		3.53%	3.90%	4.10%
Term Loan \| Senior Credit Facilities \| Bank Base Rate \| Minimum
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		1.75%
Term Loan \| Senior Credit Facilities \| Eurocurrency \| Minimum
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		0.75%
Revolving Credit Facility \| Senior Credit Facilities
Debt Instrument [Line Items]
Debt issuance, principal amount		$ 225,000				$ 922,500
Borrowings on revolving credit facility		$ 127,100
Effective interest rate for the term loans		3.70%	5.50%	5.25%
Debt issuance, weighted average interest rate		4.10%	4.20%	3.80%
Increase (Decrease) in Deferred Charges	6,700
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	$ 2,700
Revolving Credit Facility \| Senior Credit Facilities \| Bank Base Rate \| Minimum
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		0.50%
Revolving Credit Facility \| Senior Credit Facilities \| Bank Base Rate \| Maximum
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		1.00%
Revolving Credit Facility \| Senior Credit Facilities \| Eurocurrency \| Minimum
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		1.50%
Revolving Credit Facility \| Senior Credit Facilities \| Eurocurrency \| Maximum
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base			2.00%
Secured Term Loan \| Senior Credit Facilities
Debt Instrument [Line Items]
Debt issuance, quarterly principal payments		$ 2,700
Debt instrument term	7 years
Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount					$ 500,000

Credit Arrangements and Debt Obligations - Derivative Assets at Fair Value (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 2 \| Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps - asset	$ 3,767

Credit Arrangements and Debt Obligations Credit Arrangements and Debt Obligations - Effect of Derivatives on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Unrealized gain on derivatives, before reclassification, before tax	$ 3,258
Unrealized gain on derivatives, before reclassification, tax	(1,303)
Unrealized gain on derivatives, before reclassification, net of tax	1,955
Reclassification adjustment from AOCI on derivatives, before tax	(509)
Reclassification adjustment from AOCI on derivatives, tax	204
Reclassification adjustment from AOCI on derivatives, net of tax	(305)
Derivatives qualifying as hedges, before tax	3,767
Derivatives qualifying as hedges, tax	1,507
Unrealized gain on interest rate swaps, net of tax	2,260	$ 0	$ 0
Loss that will be reclassified from accumulated other comprehensive income to interest expense	$ 700

Income Taxes - Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
United States	$ 116,225	$ 132,846	$ 134,611
Foreign	45,175	10,351	5,545
Income before income taxes	$ 161,400	$ 143,197	$ 140,156

Income Taxes - Income Tax (Benefit) Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current tax expense
Federal	$ 29,733	$ 42,691	$ 29,236
State	4,531	10,752	8,723
Foreign	7,735	7,115	9,028
Current tax expense (benefit)	41,999	60,558	46,987
Deferred tax (benefit) expense
Federal	(36,794)	(6,463)	(11,014)
State	612	(2,069)	6,776
Foreign	(1,380)	(3,589)	3,480
Deferred tax (benefit) expense	(37,562)	(12,121)	(758)
Income tax expense	$ 4,437	$ 48,437	$ 46,229

Income Taxes - Reconciliation of Federal Statutory Rate to Effective Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Excess tax benefits from stock-based compensation	$ 0	$ 12,891	$ 9,397
Deferred Tax Liabilities, Net	73,933	111,711
Federal tax expense computed at statutory rate	56,490	50,119	49,055
State tax expense, net of federal tax	2,881	6,374	5,849
Valuation allowance, net	(1,028)	(107)	(185)
Intercompany interest	(5,074)	(6,953)	(6,919)
Permanent differences and other, net	1,041	(389)	(901)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-based Compensation Cost, Amount	(22,757)	0	0
Change in tax rate	(32,844)	(96)	319
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	11,027	0	0
Change to uncertain tax positions, net	614	432	(333)
Foreign rate differential	(5,913)	(943)	(656)
Income tax expense	$ 4,437	$ 48,437	$ 46,229

Income Taxes - Components of Net Deferred Tax Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Reserve on assets	$ 605	$ 342
Net operating loss carryforwards	304	1,347
Liabilities not yet deductible	28,951	39,401
Deferred revenue	2,934	3,370
Stock-based compensation	8,024	13,855
Depreciation	0	118
Other	2,608	1,620
Deferred tax assets, gross	43,426	60,053
Valuation allowance	0	(1,028)
Total deferred tax assets	43,426	59,025
Deferred tax liabilities:
Intangible assets	(97,674)	(143,806)
Depreciation	(19,685)	(26,930)
Total deferred tax liabilities	(117,359)	(170,736)
Net deferred tax liability	$ (73,933)	$ (111,711)

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning balance	$ 1,096	$ 706	$ 713
Additions for tax positions of prior years	0	0	353
Additions for tax positions of current year	650	443	353
Settlements	0	0	(50)
Reductions for tax positions of prior years	0	(27)	0
Lapses of statutes of limitations	0	0	(663)
Increase resulting from foreign currency adjustments	157
Decrease resulting from foreign currency adjustments		(26)	0
Ending balance	$ 1,903	$ 1,096	$ 706

Income Taxes - Additional Information (Detail)	12 Months Ended
Income Taxes - Additional Information (Detail)	Dec. 31, 2017 USD ($) tax_audit	Dec. 31, 2016 USD ($)
Income Tax Disclosure [Line Items]
Excess tax benefits associated with ASU 2016-09	$ 26,500,000
Tax Cuts and Jobs Act of 2017, benefit	22,300,000
Tax Cuts and Jobs Act of 2017, deferred tax liability, provision income tax benefit	33,300,000
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent	100,000
Deferred tax asset, net operating losses, foreign	300,000
Valuation allowance, net operating losses	0	$ 1,028,000
Deferred tax liability	73,933,000	111,711,000
Undistributed earnings of foreign subsidiaries	$ 123,000,000
Likelihood for being realized upon settlement	50.00%
Penalties and interest expense	$ 0	0
Liability for interest and penalties	0	$ 0
Unrecognized tax benefits that would impact the effective tax rate	1,900,000
Minimum
Income Tax Disclosure [Line Items]
Change in uncertain tax positions	0
Maximum
Income Tax Disclosure [Line Items]
Change in uncertain tax positions	1,900,000
Foreign
Income Tax Disclosure [Line Items]
Net operating loss	$ 1,300,000
Net operating loss, expiration	2024
Foreign \| Valuation Allowance, Other Tax Carryforward
Income Tax Disclosure [Line Items]
Valuation allowance, net operating losses	$ 1,000,000
Foreign \| Minimum
Income Tax Disclosure [Line Items]
Statute of limitations	1 year
Foreign \| Maximum
Income Tax Disclosure [Line Items]
Statute of limitations	7 years
Federal State And Foreign [Member]
Income Tax Disclosure [Line Items]
Deferred tax liability	$ 1,100,000
State
Income Tax Disclosure [Line Items]
Number of State Audits Completed During Period \| tax_audit	0
Number of income tax audits pending \| tax_audit	0
Tax year subject to audit, start	2013
Tax year subject to audit, end	2016
State \| Federal Changes
Income Tax Disclosure [Line Items]
Statute of limitations	1 year
State \| Minimum
Income Tax Disclosure [Line Items]
Statute of limitations	3 years
State \| Maximum
Income Tax Disclosure [Line Items]
Statute of limitations	5 years
Domestic
Income Tax Disclosure [Line Items]
Statute of limitations	3 years
IRELAND
Income Tax Disclosure [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	$ 3,700,000
IRELAND \| Europe [Member]
Income Tax Disclosure [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	11,900,000
IRELAND \| UNITED STATES
Income Tax Disclosure [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	$ (15,600,000)

Stockholder's Equity and Stock-Based Compensation - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 05, 2016	Aug. 02, 2016	Feb. 04, 2015	Jan. 30, 2013	Jan. 24, 2013	Dec. 31, 2012
Shareholders Equity And Share Based Payments [Line Items]
Number of preferred stock issuable by BOD (in shares)	25,000,000	25,000,000
Preferred stock, outstanding (in shares)	0	0
Shares authorized to be repurchased by BOD						$ 300,000,000	$ 250,000,000
Remaining authorized repurchase amount	$ 120,600,000				$ 26,300,000
Treasury Stock, Value, Acquired, Cost Method	162,195,000	$ 112,792,000	$ 128,103,000
Retirement of treasury stock	0	0	0
Stock-based compensation expense	12,072,000	11,646,000	9,200,000
Stock-based compensation expense	12,072,000	11,646,000	9,200,000
Allocated Share-based Compensation Expense	12,100,000	11,600,000	9,200,000
Income tax benefit related to share based compensation	3,200,000	4,600,000	3,700,000
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent	0
Fair value of options that vested	6,800,000	5,100,000	2,300,000
Proceeds from issuance of common stock upon exercise of options	22,625,000	11,679,000	9,811,000
Tax benefit realized from exercise of stock options	32,300,000	15,800,000	11,600,000
Excess tax benefits from stock option exercises	26,500,000
Excess tax benefits from stock-based compensation	$ 0	12,891,000	9,397,000
Granted (in shares)	464,175
Proceeds from issuance of restricted stock	$ 4,363,000	$ 3,682,000	$ 3,864,000
2012 Omnibus Long-Term Incentive Plan
Shareholders Equity And Share Based Payments [Line Items]
Shares available for grant (in shares)	1,800,000
Option expiration	7 years
Requisite service period	5 years
Shares available for issuance (in shares)									5,000,000
2012 Omnibus Long-Term Incentive Plan \| Third Anniversary
Shareholders Equity And Share Based Payments [Line Items]
Vesting percentage	60.00%
2012 Omnibus Long-Term Incentive Plan \| Fourth Anniversary
Shareholders Equity And Share Based Payments [Line Items]
Vesting percentage	20.00%
2012 Omnibus Long-Term Incentive Plan \| Fifth Anniversary
Shareholders Equity And Share Based Payments [Line Items]
Vesting percentage	20.00%
2008 Equity Incentive Plan
Shareholders Equity And Share Based Payments [Line Items]
Stock options, unrecognized compensation cost	$ 16,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Award Requisite Service Period	2 years
Board of Directors Chairman
Shareholders Equity And Share Based Payments [Line Items]
Number of preferred stock issuable by BOD (in shares)				25,000,000
Common Class A
Shareholders Equity And Share Based Payments [Line Items]
Number of preferred stock issuable by BOD (in shares)								25,000,000
Common Class A \| 2008 Equity Incentive Plan
Shareholders Equity And Share Based Payments [Line Items]
Shares available for issuance (in shares)										1,500,000.0
Common Stock Class L \| 2008 Equity Incentive Plan
Shareholders Equity And Share Based Payments [Line Items]
Shares available for issuance (in shares)										150,000
Undesignated Preferred Stock
Shareholders Equity And Share Based Payments [Line Items]
Common stock reclassified, authorized (in shares)				25,000,000
Common Stock
Shareholders Equity And Share Based Payments [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years 3 months 7 days	5 years 3 months 7 days	5 years 3 months 7 days
Restricted Stock Units (RSUs)
Shareholders Equity And Share Based Payments [Line Items]
Granted (in shares)	12,820
Equity instruments other than options, outstanding (in shares)	36,886
Equity instruments other than options, aggregate intrinsic value, outstanding	$ 3,500,000
Granted (in dollars per share)	$ 77.99
Award vesting period	5 years
Restricted Stock
Shareholders Equity And Share Based Payments [Line Items]
Compensation not yet recognized	$ 4,500,000
Percentage of price of Common Stock that preferred shares sold for	50.00%
Equity instruments other than options, outstanding (in shares)	380,950	538,795
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Award Requisite Service Period	2 years
Award vesting period	3 years
Selling, General and Administrative Expenses
Shareholders Equity And Share Based Payments [Line Items]
Allocated Share-based Compensation Expense	$ 11,600,000	$ 11,000,000	$ 8,700,000
Selling, General and Administrative Expenses \| Restricted Stock
Shareholders Equity And Share Based Payments [Line Items]
Allocated Share-based Compensation Expense	3,700,000	4,100,000	2,900,000
Cost of Sales
Shareholders Equity And Share Based Payments [Line Items]
Allocated Share-based Compensation Expense	500,000	600,000	500,000
Treasury Stock, at Cost
Shareholders Equity And Share Based Payments [Line Items]
Treasury Stock, Value, Acquired, Cost Method	162,195,000	112,792,000	128,103,000
Retirement of treasury stock	$ 162,195,000	$ 112,792,000	$ 128,103,000
Common Stock
Shareholders Equity And Share Based Payments [Line Items]
Retirement of treasury stock (in shares)	(1,968,415)	(1,745,505)	(2,221,047)
Retirement of treasury stock	$ (2,000)	$ (2,000)	$ (2,000)
Options, exercises in period, intrinsic value	$ 66,600,000	$ 39,400,000	$ 28,900,000
Granted (in dollars per share)	$ 72.48
Sponsor \| Secondary Offering
Shareholders Equity And Share Based Payments [Line Items]
Shares repurchased (in shares)	1,700,000	1,000,000	2,100,000

Stockholders' Equity and Stock-Based Compensation - Weighted Average Assumptions for Fair Value of Stock Option (Detail) - Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Method Used [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Expected stock price volatility	30.00%	30.00%	30.00%
Risk free interest rate	1.90%	1.40%	1.50%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years 3 months 7 days	5 years 3 months 7 days	5 years 3 months 7 days
Weighted average fair value per share of options granted during the period	$ 22.08	$ 19.35	$ 15.37

Stockholders' Equity and Stock-Based Compensation - Stock Option Activity Under Equity Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity [Line Items]
Excess tax benefits from stock-based compensation	$ 0	$ 12,891	$ 9,397
Proceeds from issuance of common stock upon exercise of options	$ 22,625	$ 11,679	$ 9,811
Number of Options
Outstanding at beginning of period (in shares)	3,483,877
Granted (in shares)	464,175
Exercised (in shares)	(1,192,160)
Forfeited (in shares)	(81,050)
Outstanding at end of period (in shares)	2,674,842	3,483,877
Exercisable at end of period (in shares)	1,023,230
Vested and expected to vest at December 31, 2016 (in shares)	2,547,213
Common Stock
Equity [Line Items]
Outstanding, years, duration	4 years 5 months 10 days	4 years 6 months 12 days
Exercisable, years, duration	3 years 6 months 2 days
Vested and expected to vest, years, duration	4 years 4 months 1 day
Number of Options
Exercised (in shares)	(1,194,160)	(761,452)	(694,381)
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 32.34
Granted (in dollars per share)	72.48
Exercised (in dollars per share)	18.98
Forfeited (in dollars per share)	56.75
Outstanding at end of period (in dollars per share)	44.53	$ 32.34
Exercisable at end of period (in dollars per share)	22.07
Vested and expected to vest at end of period (in dollars per share)	$ 43.48
Aggregate Intrinsic Value (In millions)
Outstanding at end of period	$ 132,300
Exercisable at December 31, 2016	73,600
Vested and expected to vest at end of period	$ 128,700
2008 Equity Incentive Plan
Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Award Requisite Service Period	2 years
Common Stock
Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	5 years 3 months 7 days	5 years 3 months 7 days	5 years 3 months 7 days

Stockholders' Equity and Stock-Based Compensation Stockholder's Equity and Stock-Based Compensation - Restricted Stock Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(1,192,160)
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Award Requisite Service Period	2 years
Number of Shares
Nonvested restricted stock shares, beginning balance (in shares)	538,795
Granted (in shares)	129,780
Vested (in shares)	(287,625)
Forfeited (in shares)	0
Nonvested restricted stock shares, ending balance (in shares)	380,950	538,795
Weighted Average Grant Date Fair Value
Nonvested restricted stock shares, beginning of period (in dollars per share)	$ 22.75
Granted (in dollars per share)	35.75
Vested (in dollars per share)	18.69
Forfeited (in dollars per share)	0.00
Nonvested restricted stock shares, end of period (in dollars per share)	$ 30.24	$ 22.75
Aggregate intrinsic value of nonvested restricted stock shares, end of period	$ 0	$ 0
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	(2,000)
Number of Shares
Nonvested restricted stock shares, ending balance (in shares)	36,886
Weighted Average Grant Date Fair Value
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$ 59.47

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income									$ 156,963	$ 94,760	$ 93,927
Allocation of net income to common stockholders: common stock	$ 51,111	$ 30,905	$ 32,828	$ 41,151	$ 16,965	$ 22,306	$ 30,131	$ 24,517	155,995	93,919	93,287
Allocation of net income to common stockholders: Unvested participating shares									968	841	640
Net income (loss) available to common shareholders									156,963	94,760	93,927
Less adjusted earnings allocated to unvested participating shares									(947)	(822)	(624)
Less adjusted earnings allocated to common stock									$ 156,016	$ 93,938	$ 93,303
Weighted average number of common shares:
Common stock-basic (in shares)									58,873,196	59,229,069	60,835,574
Common stock-diluted (in shares)									60,253,691	60,594,895	62,360,778
Earnings (loss) per common share:
Common stock-basic (in dollars per share)	$ 0.88	$ 0.53	$ 0.56	$ 0.69	$ 0.29	$ 0.38	$ 0.51	$ 0.41	$ 2.65	$ 1.59	$ 1.53
Common stock-diluted (in dollars per share)	$ 0.86	$ 0.51	$ 0.54	$ 0.68	$ 0.28	$ 0.37	$ 0.50	$ 0.40	$ 2.59	$ 1.55	$ 1.50
Common Stock
Weighted average number of common shares:
Common stock-basic (in shares)									58,873,196	59,229,069	60,835,574
Weighted average number of common shares - effect of dilutive securities (in shares)									1,380,495	1,365,826	1,525,204
Common stock-diluted (in shares)									60,253,691	60,594,895	62,360,778
Earnings (loss) per common share:
Common stock-basic (in dollars per share)									$ 2.65	$ 1.59	$ 1.53
Common stock-diluted (in dollars per share)									$ 2.59	$ 1.55	$ 1.50
Common Stock \| Unvested Participating Shares
Weighted average number of common shares:
Common stock-basic (in shares)									366,029	531,364	417,285

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock
Earnings Per Share [Line Items]
Award vesting period	3 years
Common Stock \| Employee Stock Option
Earnings Per Share [Line Items]
Options outstanding to purchase (in shares)	0.6	0.5	0.2

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) LetterOfCredit	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Contingencies And Commitments [Line Items]
Rent expense	$ 116.7	$ 103.1	$ 97.3
Number of letters of credit outstanding \| LetterOfCredit	39
Letters of credit to guarantee certain rent payments	$ 1.6
Bank Base Rate
Contingencies And Commitments [Line Items]
Interest rate of overdraft facility	1.00%
Minimum
Contingencies And Commitments [Line Items]
Operating leases, years until expiration	10 years
Maximum
Contingencies And Commitments [Line Items]
Operating leases, years until expiration	15 years

Commitments and Contingencies - Future Minimum Payments under Non-Cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2017	$ 113,161
2018	108,199
2019	100,638
2020	88,675
2021	83,119
Thereafter	508,144
Total future minimum lease payments	$ 1,001,936

Commitments and Contingencies - Future Minimum Payments of Long-term Debt (Detail) $ in Thousands	Dec. 31, 2017 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2017	$ 10,750
2018	10,750
2019	10,750
2020	10,750
2021	10,750
Long-term Debt, Maturities, Repayments of Principal after Year Five	1,013,188
Total future principal payments	$ 1,066,938

Employee Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
401(k) Retirement Savings Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Retirement savings plan, age to be eligible	20 years 6 months
Retirement savings plan, eligibility period	12 months
Retirement savings plan, eligibility service hours	1000 hours
Retirement plan funding, percentage	50.00%
Retirement plan employer matching contribution, percentage	25.00%
Retirement plan maximum annual contribution per employee, percentage	8.00%
Retirement plan Company contributions and administrative expenses	$ 3,000,000	$ 2,700,000	$ 2,500,000
Nonqualified Deferred Compensation Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Retirement plan funding, percentage	50.00%
Maximum annual contribution percent, other forms of compensation	100.00%
Retirement plan employer matching contribution, percentage	25.00%
Retirement plan Company contributions and administrative expenses	$ 2,500
Minimum \| 401(k) Retirement Savings Plan
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Retirement savings plan, eligibility period	60 days
Retirement savings plan, eligibility service hours	160 hours
Fair Value, Measurements, Recurring \| Life Insurance \| Fair Value, Inputs, Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Financial instruments, owned, at fair value	$ 5,100,000	2,700,000
Fair Value, Measurements, Recurring \| Deferred Compensation, Share-based Payments \| Fair Value, Inputs, Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans [Line Items]
Financial liabilities fair value disclosure	$ 5,300,000	$ 2,800,000

Segment and Geographic Information - Income from Operations by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenue	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 398,537	$ 383,929	$ 402,053	$ 385,322	$ 1,740,905	$ 1,569,841	$ 1,458,445
Amortization of intangible assets									32,561	29,642	27,989
Income from operations	$ 52,266	$ 44,963	$ 56,806	$ 51,404	$ 47,348	$ 44,715	$ 56,578	$ 48,597	205,439	197,238	181,602
Operating Segments \| Full service center-based child care
Segment Reporting Information [Line Items]
Revenue									1,457,754	1,321,699	1,236,762
Amortization of intangible assets									30,259	27,862	26,690
Income from operations									130,289	129,693	115,149
Operating Segments \| Back-up dependent care
Segment Reporting Information [Line Items]
Revenue									224,264	200,106	181,574
Amortization of intangible assets									1,539	1,204	725
Income from operations									60,373	57,620	56,891
Operating Segments \| Other educational advisory services
Segment Reporting Information [Line Items]
Revenue									58,887	48,036	40,109
Amortization of intangible assets									763	576	574
Income from operations									$ 14,777	$ 9,925	$ 9,562

Segment and Geographic Information - Income from Operations by Segment - Footnotes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Amortization of intangible assets	$ 32,561	$ 29,642	$ 27,989
Other Expenses	3,671	0	0
Expenses incurred in connection with the Offering		2,500
Expenses incurred in connection with the modification of stock options			900
Operating Segments \| Back-up dependent care
Segment Reporting Information [Line Items]
Amortization of intangible assets	1,539	1,204	725
Operating Segments \| Other educational advisory services
Segment Reporting Information [Line Items]
Amortization of intangible assets	$ 763	$ 576	$ 574

Segment and Geographic Information - Revenue and Long-Lived Assets by Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenue	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 398,537	$ 383,929	$ 402,053	$ 385,322	$ 1,740,905	$ 1,569,841	$ 1,458,445
Long-lived assets	575,185				529,432				575,185	529,432	429,736
UNITED STATES
Segment Reporting Information [Line Items]
Revenue									1,300,000		1,200,000
Long-lived assets	331,800				320,500				331,800	320,500	306,600
North America
Segment Reporting Information [Line Items]
Revenue									1,353,032	1,277,165	1,182,629
Long-lived assets	333,526				322,267				333,526	322,267	308,469
Europe and other
Segment Reporting Information [Line Items]
Revenue									387,873	292,676	275,816
Long-lived assets	$ 241,659				$ 207,165				$ 241,659	$ 207,165	$ 121,267

Segment and Geographic Information - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended								12 Months Ended
	Nov. 30, 2017	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Revenues		$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 398,537	$ 383,929	$ 402,053	$ 385,322	$ 1,740,905	$ 1,569,841	$ 1,458,445
Long-lived assets		575,185				529,432				575,185	529,432	429,736
United States
Segment Reporting Information [Line Items]
Revenues										1,300,000		1,200,000
Long-lived assets		331,800				320,500				331,800	320,500	306,600
United Kingdom
Segment Reporting Information [Line Items]
Revenues										328,000	248,200	238,500
Long-lived assets		$ 226,500				$ 193,900				226,500	193,900	107,800
Operating Segments \| Full service center-based child care
Segment Reporting Information [Line Items]
Other expenses, debt Instrument amendment and acquisition related costs	$ 3,300
Revenues										$ 1,457,754	$ 1,321,699	$ 1,236,762

Transactions with Related Parties - Additional Information (Detail) shares in Millions		12 Months Ended			59 Months Ended
	Jan. 30, 2013 shares	Dec. 31, 2017 director shares	Dec. 31, 2016 shares	Dec. 31, 2015 shares	Dec. 31, 2017 shares
Related Party Transaction [Line Items]
Issuance of Class L common stock (in shares)	11.6
Sponsor
Related Party Transaction [Line Items]
Percentage of common stock held by investment funds affiliated with sponsor		7.70%			7.70%
Secondary Offering
Related Party Transaction [Line Items]
Issuance of Class L common stock (in shares)		8.2	4.1	9.7	47.7
Secondary Offering \| Sponsor
Related Party Transaction [Line Items]
Shares repurchased (in shares)		1.7	1.0	2.1
Director \| Sponsor
Related Party Transaction [Line Items]
Number of related parties \| director		2

Quarterly Results (Unaudited) - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 398,537	$ 383,929	$ 402,053	$ 385,322	$ 1,740,905	$ 1,569,841	$ 1,458,445
Gross profit	108,141	103,194	114,341	104,934	99,216	91,472	104,383	95,776	430,610	390,847	357,755
Income from operations	52,266	44,963	56,806	51,404	47,348	44,715	56,578	48,597	205,439	197,238	181,602
Net income	51,444	31,105	33,040	41,374	17,120	22,510	30,403	24,727	156,963	94,760	93,927
Net income (loss) available to common shareholders - basic	51,111	30,905	32,828	41,151	16,965	22,306	30,131	24,517	155,995	93,919	93,287
Net income (loss) available to common shareholders - diluted	$ 51,117	$ 30,909	$ 32,833	$ 41,157	$ 16,968	$ 22,311	$ 30,137	$ 24,522	$ 156,016	$ 93,938	$ 93,303
Earnings (loss) per share:
Common stock-basic (in dollars per share)	$ 0.88	$ 0.53	$ 0.56	$ 0.69	$ 0.29	$ 0.38	$ 0.51	$ 0.41	$ 2.65	$ 1.59	$ 1.53
Common stock-diluted (in dollars per share)	$ 0.86	$ 0.51	$ 0.54	$ 0.68	$ 0.28	$ 0.37	$ 0.50	$ 0.40	$ 2.59	$ 1.55	$ 1.50
Tax Cuts and Jobs Act of 2017, benefit									$ 22,300