Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2018	Feb. 15, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document type	10-K
Amendment flag	false
Document period end date	Dec. 31, 2018
Document fiscal year focus	2018
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 Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity common stock, shares outstanding (in shares)		57,948,644
Entity public float			$ 5.9

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 15,450	$ 23,227
Accounts receivable—net	131,178	117,138
Prepaid expenses and other current assets	47,263	52,096
Total current assets	193,891	192,461
Fixed assets—net	597,141	575,185
Goodwill	1,347,611	1,306,792
Other intangibles—net	323,035	348,540
Other assets	62,628	45,666
Total assets	2,524,306	2,468,644
Current liabilities:
Current portion of long-term debt	10,750	10,750
Borrowings under revolving credit facility	118,200	127,100
Accounts payable and accrued expenses	154,195	132,897
Contract with Customer, Liability, Current	170,416	155,696
Other current liabilities	30,224	34,212
Total current liabilities	483,785	460,655
Long-term debt—net	1,036,870	1,046,011
Deferred rent and related obligations	71,817	66,499
Other long-term liabilities	75,368	64,171
Contract with Customer, Liability, Noncurrent	5,683	8,179
Deferred income taxes	71,306	74,069
Total liabilities	1,744,829	1,719,584
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, 2018 and 2017	0	0
Common stock, $0.001 par value; 475,000,000 shares authorized; 57,494,468 and 58,013,144 shares issued and outstanding at December 31, 2018 and 2017, respectively	57	58
Additional paid-in capital	648,651	747,155
Accumulated other comprehensive loss	(62,355)	(33,296)
Retained earnings	193,124	35,143
Total stockholders’ equity	779,477	749,060
Total liabilities and stockholders’ equity	$ 2,524,306	$ 2,468,644

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
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)	57,494,468	58,013,144
Common stock, outstanding (in shares)	57,494,468	58,013,144

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue	$ 1,903,182	$ 1,740,905	$ 1,569,841
Cost of services	1,429,927	1,310,295	1,178,994
Gross profit	473,255	430,610	390,847
Selling, general and administrative expenses	201,591	188,939	163,967
Amortization of intangible assets	32,569	32,561	29,642
Income from operations	0	3,671	0
Income from operations	239,095	205,439	197,238
Loss on extinguishment of debt	0	0	(11,117)
Interest expense—net	(47,508)	(44,039)	(42,924)
Income before income tax	191,587	161,400	143,197
Income tax expense	(33,606)	(4,437)	(48,437)
Net income	157,981	156,963	94,760
Allocation of net income to common stockholders: Common stock-basic	$ 157,096	$ 155,995	$ 93,919
Earnings per common share:
Common stock-basic (in dollars per share)	$ 2.72	$ 2.65	$ 1.59
Common stock-diluted (in dollars per share)	$ 2.66	$ 2.59	$ 1.55
Weighted average number of common shares outstanding:
Common stock-basic (in shares)	57,812,602	58,873,196	59,229,069
Common stock-diluted (in shares)	59,000,669	60,253,691	60,594,895

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 157,981	$ 156,963	$ 94,760
Other comprehensive (loss) income:
Foreign currency translation adjustments	(32,092)	53,892	(50,178)
Unrealized gain on interest rate swaps, net of tax	3,033	2,260	0
Total other comprehensive (loss) income	(29,059)	56,152	(50,178)
Comprehensive income	$ 128,922	$ 213,115	$ 44,582

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Total	Common Stock	Additional Paid-in Capital	Treasury Stock, at Cost	Accumulated Other Comprehensive (Loss) Income	Retained Earnings (Accumulated Deficit)
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 option exercises and vesting of restricted stock (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)		1,194,160
Exercise of stock options	22,625,000	$ 1,000	22,624,000
Vested restricted stock	5,374,000	$ 287,625	5,374,000
Options received in net share settlement of stock option exercises and vesting of restricted stock (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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation expense	$ 13,811,000		13,811,000
Exercise of stock options (in shares)	627,480	627,480
Exercise of stock options	$ 18,476,000	$ 1,000	18,475,000
Vested restricted stock	3,487,000	$ 144,000	3,487,000
Options received in net share settlement of stock option exercises and vesting of restricted stock (in shares)		(77,720)
Options received in net share settlement of stock option exercises and vesting of restricted stock	(7,540,000)		(7,540,000)
Purchase of treasury stock	(126,739,000)			(126,739,000)
Retirement of treasury stock (in shares)		(1,212,436)
Retirement of treasury stock	0	$ (2,000)	(126,737,000)	126,739,000
Translation adjustments	(32,092,000)				(32,092,000)
Unrealized gain on interest rate swaps, net of tax	3,033,000				3,033,000
Net income	157,981,000					157,981,000
Balance (in shares) at Dec. 31, 2018		57,494,468
Balance at Dec. 31, 2018	$ 779,477,000	$ 57,000	$ 648,651,000	$ 0	$ (62,355,000)	$ 193,124,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 157,981	$ 156,963	$ 94,760
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	100,943	94,776	85,284
Loss on extinguishment of debt	0	0	11,117
Amortization of original issue discount and deferred financing costs	1,901	1,776	3,474
Loss on foreign currency transactions and other	116	1,781	43
Loss (gain) on disposal of fixed assets	488	2,760	(143)
Stock-based compensation expense	13,811	12,072	11,646
Deferred income taxes	(5,469)	(37,562)	(12,121)
Deferred rent	1,317	4,345	2,562
Changes in assets and liabilities:
Accounts receivable	(14,498)	(18,689)	(78)
Prepaid expenses and other current assets	2,795	(3,450)	(7,369)
Income taxes	(3,320)	11,156	12,773
Accounts payable and accrued expenses	15,912	5,912	(6,858)
Deferred revenue	12,073	9,316	7,750
Accrued rent and related obligations	4,543	1,726	7,517
Other assets	100	(387)	(319)
Other current and long-term liabilities	6,054	5,698	3,179
Net cash provided by operating activities	294,747	248,193	213,217
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(92,491)	(88,122)	(75,334)
Proceeds from the disposal of fixed assets	1,826	4,285	1,234
Payments to Acquire Investments	767	0	0
Payments and settlements for acquisitions—net of cash acquired	(67,111)	(21,484)	(228,737)
Net cash used in investing activities	(158,543)	(105,321)	(302,837)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt, net of issuance costs of $9.4 million	0	0	1,065,610
Extinguishment of long-term debt	0	0	(922,488)
Payments of contingent consideration for acquisitions	(2,965)	(185)	(915)
Payments of Debt Issuance Costs	292	1,711	1,002
Payments of debt issuance costs	(2,700)
Borrowings under revolving credit facility	679,900	643,201	445,868
Payments under revolving credit facility	(688,800)	(592,101)	(393,868)
Principal payments of long-term debt	(10,750)	(8,063)	(7,163)
Taxes paid related to the net share settlement of stock options and restricted stock	7,540	29,798	7,747
Purchase of treasury stock	(126,679)	(162,195)	(112,792)
Proceeds from issuance of common stock upon exercise of options	18,476	22,625	11,679
Proceeds from issuance of restricted stock	4,457	4,363	3,682
Excess tax benefits from stock-based compensation	0	0	12,891
Net cash (used in) provided by financing activities	(134,193)	(123,864)	93,755
Effect of exchange rates on cash, cash equivalents and restricted cash	(103)	1,507	(1,121)
Net increase in cash, cash equivalents and restricted cash	1,908	20,515	3,014
Cash, cash equivalents and restricted cash—beginning of year	36,570	16,055	13,041
Cash, cash equivalents and restricted cash—end of year	36,570	16,055	13,041
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash payments of interest	46,122	44,464	37,090
Cash payments of income taxes	41,936	31,290	34,670
Fixed asset purchases recorded in accounts payable and accrued expenses	6,359	1,500	3,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 38,478	$ 36,570	$ 16,055

Organization and Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

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 care (for children and adult/elders), tuition reimbursement program management and related educational consulting services, college admissions advisory services, and other support services for employers and families 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 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 principal 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: 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 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 care services through its own centers and in-home providers, and through its back-up care network, 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. The Company also authorized 25 million shares of undesignated preferred stock for issuance.

Since the IPO, certain of the Company’s stockholders have sold a total of 52.3 million shares of the Company’s common stock in secondary offerings (“secondary offerings”), including 4.6 million, 8.2 million, and 4.1 million shares in the years ended December 31, 2018, 2017, and 2016, respectively. The Company has not received proceeds from the sale of shares in any of the secondary offerings. In the secondary offering completed March 2018, investment funds affiliated with Bain Capital Partners LLC sold their remaining holdings of the Company’s common stock. The Company purchased 0.8 million, 1.7 million, and 1.0 million of the shares sold in the secondary offerings in 2018, 2017, and 2016, respectively, at the same price per share paid by the underwriter to the selling stockholders.

The board of directors of the Company authorized a share repurchase program of up to $300 million of the Company’s outstanding common stock, effective June 12, 2018. The share repurchase program replaces the prior $300 million authorization, of which $34.9 million remained available at the time the plan was replaced and cancelled. The share repurchase program has no expiration date. 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. At December 31, 2018, $259.0 million remained available under the repurchase program.

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 net gains and losses recorded in the consolidated statements of income for the years ended December 31, 2018 and 2016 were not significant. In 2017, the Company incurred foreign currency translation losses of $1.7 million associated with the disposition of the remaining assets in Ireland, which was included in other expenses in the consolidated statement of income.

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, restricted cash, 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, 2018, the carrying value and estimated fair value of long-term debt were $1.1 billion and $1.0 billion, respectively. As of December 31, 2017, the carrying value and estimated fair value of long-term was $1.1 billion.

In 2017, the Company entered into interest rate swap agreements, which are included in other assets on the consolidated balance sheet at fair value. As of December 31, 2018 and 2017, the fair value of the interest rate swaps were $7.9 million and $3.8 million, respectively, 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 — 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 concentration risk existed at December 31, 2018 and 2017.

Cash, cash equivalents, and restricted cash — The Company considers all highly liquid investments with maturities, when purchased, of three months or less to be cash equivalents.

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 $17.8 million and $18.0 million in book overdrafts at December 31, 2018 and 2017, respectively, included in accounts payable on the consolidated balance sheet.

The Company’s cash and cash equivalents that are restricted in nature as to withdrawal or usage is included in prepaid expenses and other current assets or other assets. Restricted cash is primarily comprised of cash equivalents associated with the Company’s wholly-owned captive insurance company and cash deposits that guarantee letters of credit.

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,
	2018			2017			2016
Beginning balance	$	2,429		$	1,054		$	1,556
Provision	1,148			2,537			839
Write offs and recoveries	(1,063		)	(1,162		)	(1,341		)
Ending balance	$	2,514		$	2,429		$	1,054

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, 2018 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, 2018, 2017, or 2016.

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, 2018, 2017 or 2016 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.

Other Long-Term Assets — Other long-term assets includes restricted cash related to a deposit of $20.0 million in the Company’s wholly-owned captive insurance entity, and an investment of $2.9 million, primarily in a private company and a limited partnership. The equity investments without readily determinable fair value are measured at cost, less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions. We review such equity investments 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 as described in Note 2, “Revenue Recognition.”

Leases and Deferred Rent — The Company primarily leases space for certain of its centers, corporate offices, and call centers. 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 and Deferred Financing Costs — Original issue discounts on the Company’s debt and 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.

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.

Excess tax benefits (deficiencies) associated with stock-based compensation are recognized as income tax benefits (expenses) on the income statement. For the year ended December 31, 2016, excess tax benefits (deficiencies) were recorded to additional paid-in capital on the balance sheet as permitted under previous guidance.

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 equally 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 the treasury stock method, or the two-class method for all outstanding stock options.

Recently Adopted Pronouncements — In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (the “new revenue guidance”), which provides a single comprehensive model for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers control over 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. The Company adopted the new revenue guidance using the modified retrospective method on January 1, 2018. Therefore, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.

The Company evaluated each revenue stream and applied the new revenue guidance as further discussed in Note 2, “Revenue Recognition.” There was no material impact on the timing or amount of revenue recognized upon adoption and any cumulative prior period adjustment was determined to be immaterial and therefore there were no adjustments recorded to the opening balance of retained earnings upon adoption. The Company’s internal controls were not significantly impacted as a result of this accounting change and the Company has made the necessary changes to accounting policies and internal processes to support the new revenue guidance, including the related disclosures. The Company expects the impact of the adoption of the new standard to be immaterial to the results of operations on an ongoing basis.

In November 2016, the FASB issued ASU 2016-18, Restricted Cash, which requires amounts generally described as restricted cash or restricted cash equivalents to be included with cash and cash equivalents in the statement of cash flows when reconciling the beginning and end of period balances for all periods presented. The update is effective for annual reporting periods beginning after December 15, 2017. The Company adopted the standard retrospectively, and as such, changes in restricted cash that have historically been presented in operating activities have now been excluded and restricted cash is combined with cash and cash equivalents when reconciling the beginning and end of year balances for all periods presented. The adoption of this guidance resulted in an increase of $9.7 million, $11.9 million, and a decrease of $0.1 million to net cash provided by operating activities for the years ended December 31, 2018, 2017 and 2016, respectively. The adoption of this guidance had no impact on the consolidated statements of income and balance sheets.

In March 2016, the FASB issued 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. 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 $12.1 million and $26.5 million for the years ended December 31, 2018 and 2017, respectively, in relation to the excess tax benefits associated with the exercise of stock options and vesting of restricted stock. Tax benefits from stock options 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 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, with early adoption permitted, and is to be applied using a modified retrospective approach. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which approved a transition method that provides the option to use the effective date as the date of initial application on transition. The Company plans to elect this transition method, and as a result, the Company will not adjust comparative information for prior periods. The Company is progressing with its preparation for the adoption and implementation of this new accounting standard, and related changes to accounting policies, internal processes, and internal controls. The Company anticipates that the adoption of this standard will have a material impact on the Company’s consolidated balance sheet as a lease liability associated with the remaining lease payments will be recorded on the consolidated balance sheet for all long-term leases, with recognition of a right-of-use asset. The adoption is not expected to have a material impact on the consolidated statements of income or cash flows. The majority of the Company’s lease portfolio represents leases of real estate for centers and corporate offices. The Company’s future noncancelable lease obligations as of December 31, 2018 are disclosed in Note 13, “Commitments and Contingencies.”

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.

Revenue Recognition

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue Recognition

REVENUE RECOGNITION

General

The Company generates revenue from services based on the consideration specified in contracts with customers, which primarily consist of employer sponsors and parents. The Company recognizes revenue when a performance obligation is satisfied by transferring control of the promised services to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. A performance obligation is a promise in a contract to transfer a distinct service to the customer. At contract inception, the Company assesses the services promised in the contract and identifies each distinct performance obligation. To identify the performance obligations, the Company considers the services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. The transaction price of a contract is allocated to each distinct performance obligation using the relative stand-alone selling price and recognized as revenue when, or as, control of the service is passed to the customer. Revenue is recognized over time because control of the service is transferred continuously to our customers.

Nature of Services

The Company’s services are comprised of full service center-based child care, back-up care, and educational advisory services, which also represent the Company’s operating and reportable segments.

Full Service Center-Based Child Care

Full service center-based child care includes traditional center-based child care and early education, preschool, and elementary education. Revenue generated from full service center-based child care services is primarily comprised of tuition paid by parents and fees from contractual arrangements with employer sponsors. Tuition is determined based on the age of the child, the child’s attendance schedule, and geographic location. Tuition is typically billed on a monthly basis, which is consistent with the timing of the delivery of services. The Company enters into contracts with employer sponsors to manage and operate their child care and early education centers for a management fee. These arrangements generally have a contractual term of three to ten years with varying terms and renewal options, and may also include operating subsidies paid either in lieu of or to supplement parent tuition. Management fees and subsidies are typically billed on a monthly basis, which is consistent with the timing of the delivery of services. Revenue from fixed and variable fees for full service center-based child care is recognized over time as services are rendered.

Back-Up Care Services

Back-up care services consist of center-based back-up child care, and in-home care for children and adult/elder dependents. The Company provides back-up care services through the Company’s full-service and dedicated back-up centers, and in-home care providers, as well as through the back-up care network. Bright Horizons back-up care offers access to a contracted network of in-home service agencies and center-based providers in locations where the Company does not otherwise have in-home care providers or centers with available capacity. Back-up care revenue is primarily comprised of fixed and variable fees or subsidies paid by employer sponsors and co-payments collected from users at the point of service. These arrangements generally have contractual terms of three years with varying terms and renewal options. Fees for back-up care services are typically determined based on the number of back-up uses and are generally billed monthly as services are rendered or in advance. Revenue for back-up care is recognized over time as services are rendered.

Educational Advisory Services

The Company’s educational advisory services consist of tuition reimbursement program management and related educational consulting services (“EdAssist Solutions”), college admissions advisory services (“Education and College Advising”, also known as “College Coach”), and other employer sponsored services. Educational advisory services revenue is primarily comprised of fixed and variable fees paid by employer clients, as well as retail fees collected from users at the point of service. These arrangements generally have contractual terms of one to three years with varying terms and renewal options. Fees for educational advisory services are determined based on the expected number of program participants and the services selected, and are generally billed in advance. Revenue for educational advisory services is recognized over time as services are rendered.

Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers into segments and geographical regions. The Company determined that disaggregating revenue into these categories achieves the disclosure objective to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

The following table presents the Company’s revenues disaggregated by segment and geographical region (in thousands):



	Full service center-based child care		Back-up care		Educational advisory services		Total
Year ended December 31, 2018
North America	$	1,144,932	$	239,056	$	71,361	$	1,455,349
Europe	441,391		6,442		—		447,833
	$	1,586,323	$	245,498	$	71,361	$	1,903,182
Year ended December 31, 2017
North America	$	1,074,270	$	219,875	$	58,887	$	1,353,032
Europe	383,484		4,389		—		387,873
	$	1,457,754	$	224,264	$	58,887	$	1,740,905
Year ended December 31, 2016
North America	$	1,032,939	$	196,190	$	48,036	$	1,277,165
Europe	288,760		3,916		—		292,676
	$	1,321,699	$	200,106	$	48,036	$	1,569,841

The classification “North America” is comprised of the Company’s United States, Canada and Puerto Rico operations and the classification “Europe” includes the United Kingdom, Netherlands, and India operations. Revenues in the United States were $1.5 billion in 2018, and $1.3 billion in both 2017 and 2016. Revenues in the United Kingdom were $371.5 million in 2018, $328.0 million in 2017, and $248.2 million in 2016. Revenue associated with other countries were not material.

Deferred Revenues

The Company’s payment terms vary by the type of services offered. Tuition collected from parents is typically billed and collected monthly in advance. Fees collected from employer sponsors may be billed annually or quarterly in advance or may be billed monthly in arrears. The Company’s standard payment terms generally align with the timing of the services performed and do not include a financing component. The Company has the unconditional right to consideration as it satisfies the performance obligations, therefore no contractual assets are recognized.

The Company records deferred revenues when payments are received in advance of the Company’s performance under the contract, which are recognized as revenue as the performance obligation is satisfied. During the year ended December 31, 2018, $154.9 million was recognized as revenue related to the deferred revenue balance recorded at December 31, 2017. There were no significant changes in deferred revenue during the year ended December 31, 2018 related to business combinations, impairments, cumulative catch-up or other adjustments.

Practical Expedients

The transaction price allocated to the remaining performance obligations relates to services that are paid or invoiced in advance. The Company does not disclose the value of unsatisfied performance obligations for contracts with an original contract term of one year or less, or for variable consideration allocated to the unsatisfied performance obligation of a series of services. The Company’s remaining performance obligations not subject to the practical expedients are not material.

The Company applied the practical expedient of expensing costs incurred to obtain a contract if the amortization period of the asset is one year or less. Sales commissions are immaterial and are expensed as incurred in selling, general and administrative expenses on the consolidated statement of income.

Acquisitions

12 Months Ended

Dec. 31, 2018

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.

2018 Acquisitions

During the year ended December 31, 2018, the Company acquired ten centers in the Netherlands, six centers in the United States, and 20 centers 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 $66.8 million, net of cash acquired of $4.2 million, and consideration payable of $5.4 million. The Company recorded goodwill of $60.3 million related to the full service center-based child care segment, of which $13.9 million will be deductible for tax purposes. In addition, the Company recorded intangible assets of $8.6 million, consisting of trademarks and customer relationships that will be amortized over two years to five years, as well as fixed assets of $8.3 million, working capital of $1.1 million, and deferred tax liabilities totaling $1.9 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, 2018, 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.

During the year ended December 31, 2018, the Company paid $3.1 million for the settlement of a portion of the contingent consideration related to an acquisition completed in 2016.

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 years 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.

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, operator of 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)
	Year ended December 31,
	2016
Revenue	$	1,649,665
Net income	$	96,033

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, 2016 exclude nonrecurring transaction costs that were incurred by the Company and the acquired business in relation to the acquisition, totaling $4.3 million.

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.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2018

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 care			Educational advisory services		Total
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
Additions from acquisitions	60,266			—			—		60,266
Effect of foreign currency translation	(19,447		)	—			—		(19,447		)
Balance at December 31, 2018	$	1,155,705		$	168,105		$	23,801	$	1,347,611

The Company also has intangible assets, which consist of the following at December 31, 2018 and 2017 (in thousands):



December 31, 2018:	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	391,220	$	(253,588	)	$	137,632
Trade names	7 years	10,183		(5,609		)	4,574
		401,403		(259,197		)	142,206
Indefinite-lived intangibles:
Trade names	N/A	180,829		—			180,829
		$	582,232	$	(259,197	)	$	323,035



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

The Company recorded amortization expense of $32.6 million, $32.6 million and $29.6 million in the years ended December 31, 2018, 2017, and 2016, respectively.

The Company estimates that it will record amortization expense related to intangible assets existing as of December 31, 2018 as follows over the next five years (in thousands):



	Estimated amortization expense
2019	$	30,506
2020	$	27,942
2021	$	25,830
2022	$	23,484
2023	$	22,346

Credit Arrangements and Debt Obligations

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

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 (“term loan facility”) and a $225 million multi-currency revolving credit facility (“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 (in thousands):



	December 31,
	2018			2017
Term loans	$	1,056,188		$	1,066,938
Deferred financing costs and original issue discount	(8,568		)	(10,177		)
Total debt	1,047,620			1,056,761
Less current maturities	10,750			10,750
Long-term debt	$	1,036,870		$	1,046,011

The revolving credit facility matures on July 31, 2022. Borrowings outstanding on the revolving credit facility were $118.2 million at December 31, 2018 and $127.1 million at December 31, 2017.

All borrowings under the credit agreement are subject to variable interest. On May 31, 2018, 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. Effective as of May 31, 2018, borrowings under the term loan facility bear interest at a rate per annum of 0.75% over the base rate, or 1.75% over the eurocurrency rate, 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 0.75% over the base rate, or 1.50% to 1.75% over the eurocurrency rate.

The effective interest rate for the term loans was 4.27%, 3.57%, and 3.50% at December 31, 2018, 2017, and 2016, respectively, and the weighted average interest rate was 3.89%, 3.53%, and 3.90% for the years ended December 31, 2018, 2017, and 2016, respectively, prior to the effects of any interest rate swap arrangements. The effective interest rate for the revolving credit facility was 4.76%, 3.70%, and 5.50% at December 31, 2018, 2017, and 2016, respectively. The weighted average interest rate for the revolving credit facility was 4.12%, 4.10%, and 4.20% for the years ended December 31, 2018, 2017, and 2016, respectively.

Certain financing fees and original issue discount costs were 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 $1.5 million, $1.4 million and $2.2 million for the years ended December 31, 2018, 2017, and 2016, respectively. Amortization expense of original issue discount costs were $0.4 million, $0.4 million, and $1.3 million for the years ended December 31, 2018, 2017, and 2016, 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. 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 consolidated first lien net leverage ratio that is a quarterly maintenance based financial covenant. A breach of this covenant is subject to certain equity cure rights.

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



2019	$	10,750
2020	10,750
2021	10,750
2022	10,750
2023	1,013,188
Total future principal payments	$	1,056,188

Credit Amendments

On January 26, 2016, the Company amended its then existing credit agreement to increase the revolving credit facility from $100 million to $225 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 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, November 30, 2017, and May 31, 2018, 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. The Company incurred $1.0 million and $2.8 million in fees associated with these amendments in the years ended December 31, 2018 and 2017, respectively, 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 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 plus the applicable rate for eurocurrency loans. Effective as of May 31, 2018, the notional amount is subject to an interest rate of approximately 3.65%. 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. Through December 31, 2018, 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.

The fair value of the interest rate swap agreements was as follows (in thousands):



	Consolidated balance sheet	December 31,
	classification	2018		2017
Interest rate swaps—asset	Other assets	$	7,901	$	3,767

For the year ended December 31, 2018, 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 gain reclassified into earnings			Total effect on other comprehensive income
Interest rate swaps	$	4,549		Interest expense—net	$	415		$	4,134
Income tax effect	(1,224		)	Income tax expense	(123		)	(1,101		)
Net of income taxes	$	3,325			$	292		$	3,033

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 gain of $3.2 million, pre-tax, will be reclassified from accumulated other comprehensive loss and recorded as a reduction to interest expense, related to these interest rate swap agreements.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

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



	Years ended December 31,
	2018		2017		2016
United States	$	157,533	$	116,225	$	132,846
Foreign	34,054		45,175		10,351
Total	$	191,587	$	161,400	$	143,197

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 tax. This transaction resulted in a consolidated net loss of $3.7 million which is included in other expenses on the consolidated statement of income.

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



	Years ended December 31,
	2018			2017			2016
Current tax expense
Federal	$	25,225		$	29,733		$	42,691
State	9,915			4,531			10,752
Foreign	3,935			7,735			7,115
	39,075			41,999			60,558
Deferred tax (benefit) expense
Federal	(188		)	(36,794		)	(6,463		)
State	(2,550		)	612			(2,069		)
Foreign	(2,731		)	(1,380		)	(3,589		)
	(5,469		)	(37,562		)	(12,121		)
Income tax expense	$	33,606		$	4,437		$	48,437

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,
	2018			2017			2016
Federal tax expense computed at statutory rate	$	40,233		$	56,490		$	50,119
State tax expense, net of federal tax	6,466			2,881			6,374
Valuation allowance, net	—			(1,028		)	(107		)
Intercompany interest	(8,367		)	(5,074		)	(6,953		)
Permanent differences and other, net	(1,417		)	1,041			(389		)
Stock-based compensation	(9,446		)	(22,757		)	—
Change in tax rate	(548		)	(32,844		)	(96		)
Transition Tax	—			11,027			—
Global Intangible Low-Taxed Income	2,893			—			—
Change to uncertain tax positions, net	1,657			614			432
Foreign rate differential	2,135			(5,913		)	(943		)
Income tax expense	$	33,606		$	4,437		$	48,437

On December 22, 2017, the U.S. federal government enacted comprehensive tax legislation with the Tax Cuts and Jobs Act (“Tax Act”) that made changes to the U.S. tax code impacting the year ended December 31, 2017 and future years. Effective January 1, 2018, the Tax Act reduced the U.S. federal corporate tax rate from 35% to 21%.

The effective income tax rate for 2018 was 17.5% as a result of the reduction to U.S. income tax rates arising from the Tax Act. The Tax Act introduced the Global Intangible Low-Taxed Income (“GILTI”) regime which resulted in additional federal income tax expense of $2.9 million during the year. The taxes on GILTI are accounted for as period costs when incurred. Additionally, income tax expense was reduced by $12.1 million in 2018 for the excess tax benefits associated with the exercise of stock options and vesting of restricted stock due to the adoption of ASU 2016-09: Compensation-Stock Compensation (Topic 718) (“ASU 2016-09”), which was adopted prospectively as of January 1, 2017. The excess tax benefits from stock-based compensation were recorded to the balance sheet in the years prior to adoption. Included in permanent differences and other, net in the rate reconciliation is a $3.7 million benefit related to finalizing intercompany interest deductions for prior year foreign tax returns.

The effective income tax rate for 2017 was 2.7%, which included a net tax benefit of $22.3 million due to the enactment of the Tax Act, primarily due to the decrease in the net deferred tax liability from the change in tax rate, and a tax benefit of approximately $7.0 million related to the disposition of our remaining assets in Ireland, which resulted in the disposition of our investment in a subsidiary for tax purposes. Additionally, income tax expense was reduced by $26.5 million in 2017 for the excess tax benefits associated with the exercise of stock options and vesting of restricted stock due to the adoption of ASU 2016-09.

For the year ended December 31, 2017, the Tax Act required a one-time transition tax on certain unrepatriated earnings of foreign subsidiaries. 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, and is payable over eight years. The Company determined the amount of post-1986 E&P of its relevant foreign subsidiaries, as well as the amount of non-U.S. income tax paid on such earnings, to calculate the Transition Tax.

In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which provided guidance on accounting for the tax effects of the Tax Act. SAB 118 provided 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 was incomplete, but the company was able to determine a reasonable estimate, it must record a provisional estimate in its financial statements. The Company recorded a Transition Tax obligation of $11.0 million for the year ended December 31, 2017. The provisional estimate was finalized in the year ended December 31, 2018, with no significant adjustment to tax expense.

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



	December 31,
	2018			2017
Deferred tax assets:
Reserve on assets	$	554		$	605
Net operating loss carryforwards	424			304
Liabilities not yet deductible	31,641			28,951
Deferred revenue	2,403			2,934
Stock-based compensation	8,502			8,024
Other	3,591			2,608
Total deferred tax assets	47,115			43,426
Deferred tax liabilities:
Intangible assets	(93,180		)	(97,674		)
Depreciation	(25,128		)	(19,685		)
Total deferred tax liabilities	(118,308		)	(117,359		)
Net deferred tax liability	$	(71,193	)	$	(73,933	)

During 2018, the overall deferred tax liability decreased by $2.7 million primarily due to the tax treatment of amortization of intangible assets, depreciation and stock-based compensation. At both December 31, 2018 and 2017, the net deferred tax liability of $71.2 million and $73.9 million, respectively, includes deferred tax assets of $0.1 million which are included in other assets in the consolidated balance sheet.

The Company has foreign net operating losses of $2.1 million and has recorded an associated deferred tax asset totaling $0.4 million. The net operating losses in certain foreign jurisdictions will begin to expire in the year 2024, while others can be carried forward indefinitely.

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 $1.3 million related to the state taxes and foreign withholding taxes on approximately $151.0 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.

The changes in the unrecognized tax benefits are as follows (in thousands):



	Years ended December 31,
	2018			2017		2016
Beginning balance	$	1,903		$	1,096	$	706
Additions for tax positions of prior years	2,937			—		—
Additions for tax positions of current year	684			650		443
Reductions for tax positions of prior years	—			—		(27		)
Effect of foreign currency adjustments	(80		)	157		(26		)
Ending balance	$	5,444		$	1,903	$	1,096

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 year ended December 31, 2018 included $0.1 million of interest and penalties and none for the years ended December 31, 2017 and 2016. During 2018, the Company recorded unrecognized tax benefits for the U.S. and a foreign subsidiary’s prior year tax positions.

The total amount of unrecognized tax benefits that if recognized would affect the Company’s effective tax rate is $5.4 million. The unrecognized tax benefits could 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 $3.3 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 the tax years 2015 through 2017 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 years to four 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, 2018, there was one income tax audit in process and the tax years from 2014 to 2017 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 year to five years.

Stockholders' Equity and Stock-Based Compensation

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017, no shares of preferred stock were outstanding.

Treasury Stock

The board of directors of the Company authorized a share repurchase program of up to $300 million of the Company’s outstanding common stock, effective June 12, 2018. The share repurchase program, which has no expiration date, replaces the prior August 2016 $300 million authorization, of which $34.9 million remained available at the time the program was replaced and cancelled. 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, 2018, the Company repurchased 1.2 million shares for $126.7 million, including a total of 0.8 million shares that were purchased from investment funds affiliated with Bain Capital Partners LLC and other selling stockholders in a secondary offering at the same price per share paid by the underwriter to the selling stockholders. At December 31, 2018, $259.0 million remained available under the repurchase program.

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 and other selling stockholders in secondary offerings at the same price per share paid by the underwriter to the selling stockholders.

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 and other selling stockholders in secondary offerings at the same price per share paid by the underwriter to the selling stockholders.

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, 2018, there were approximately 1.3 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, 2018, 2017, and 2016 and did not capitalize any amounts on the consolidated balance sheets. In the years ended December 31, 2018, 2017, and 2016 the Company recorded stock-based compensation expense of $13.8 million, $12.1 million, and $11.6 million, respectively. Stock-based compensation expense of $13.1 million, $11.6 million, and $11.0 million was recorded in selling, general and administrative expenses in the years ended December 31, 2018, 2017, and 2016, respectively, and $0.7 million, $0.5 million, and $0.6 million was recorded 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 $3.6 million, $3.2 million, and $4.6 million in the years ended December 31, 2018, 2017 and 2016, respectively.

As of December 31, 2018, there was $19.8 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, 2018. There were no share-based liabilities during the year ended December 31, 2018.

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,
	2018	2017	2016
Expected dividend yield	0.0%	0.0%	0.0%
Expected stock price volatility	26.0%	30.0%	30.0%
Risk free interest rate	2.6%	1.9%	1.4%
Expected life of options (years)	5.3	5.3	5.3
Weighted average fair value per share of options granted during the period	$28.62	$22.08	$19.35

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, 2018, 2017, and 2016, 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, 2018.



	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, 2018	4.4	2,674,842		$	44.53
Granted		479,836		98.40
Exercised		(627,480	)	29.44
Forfeited/Expired		(110,993	)	64.65
Outstanding at December 31, 2018	4.1	2,416,205		$	58.22	$	128.7
Exercisable at December 31, 2018	2.6	791,983		$	27.89	$	66.2
Vested and expected to vest at December 31, 2018	4.0	2,293,348		$	56.84	$	125.3

The fair value (pre-tax) of options that vested during the years ended December 31, 2018, 2017, and 2016 was $5.5 million, $6.8 million, and $5.1 million, respectively. The intrinsic value of options exercised during the years ended December 31, 2018, 2017, and 2016 was $46.3 million, $66.6 million, and $39.4 million, respectively.

Cash received by the Company from the exercise of stock options for the years ended December 31, 2018, 2017, and 2016 was $18.5 million, $22.6 million, and $11.7 million, respectively.

Income tax benefits realized from the exercise of stock options in the years ended December 31, 2018, 2017, and 2016 were $14.7 million, $32.3 million, and $15.8 million, respectively, inclusive of the excess tax benefits realized of $12.1 million, $26.5 million, and $12.9 million in the years ended December 31, 2018, 2017, and 2016, respectively. Excess tax benefits for 2018 and 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 generally 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, 2018, 2017, and 2016 were $4.5 million, $4.4 million, and $3.7 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, 2018, 2017, and 2016 included $4.1 million, $3.7 million, and $4.1 million, respectively, for restricted stock awards. As of December 31, 2018, total unrecognized compensation expense included $4.9 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, 2018.



	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (In millions)
Non-vested restricted stock shares at January 1, 2018	380,950		$	30.24	$	24.6
Granted	93,139		47.85
Vested	(144,000	)	24.22
Forfeited	—		—
Non-vested restricted stock shares at December 31, 2018	330,089		$	37.84	$	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, 2018, 10,707 restricted stock units were awarded at a weighted average fair value of $107.39. At December 31, 2018, there were 47,593 restricted stock units outstanding, with an intrinsic value of $5.3 million, which vested upon award.

Earnings Per Share

12 Months Ended

Dec. 31, 2018

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 stock-based payment awards that participate equally 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. 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,
	2018		2017		2016
Basic earnings per share:
Net income	$	157,981	$	156,963	$	94,760
Allocation of net income to common stockholders:
Common stock	$	157,096	$	155,995	$	93,919
Unvested participating shares	885		968		841
	$	157,981	$	156,963	$	94,760

Weighted average number of common shares:
Common stock	57,812,602		58,873,196		59,229,069
Unvested participating shares	325,289		366,029		531,364
Earnings per common share:
Common stock	$	2.72	$	2.65	$	1.59

Earnings per Share - Diluted

The Company calculates diluted earnings per share for common stock using the more dilutive of the treasury stock method, or 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,
	2018			2017			2016
Diluted earnings per share:
Earnings allocated to common stock	$	157,096		$	155,995		$	93,919
Plus earnings allocated to unvested participating shares	885			968			841
Less adjusted earnings allocated to unvested participating shares	(867		)	(947		)	(822		)
Earnings allocated to common stock	$	157,114		$	156,016		$	93,938

Weighted average number of common shares:
Common stock	57,812,602			58,873,196			59,229,069
Effect of dilutive securities	1,188,067			1,380,495			1,365,826
	59,000,669			60,253,691			60,594,895
Earnings per common share:
Common stock	$	2.66		$	2.59		$	1.55

Options outstanding to purchase 0.5 million, 0.6 million and 0.5 million shares of common stock were excluded from diluted earnings per share for the years ended December 31, 2018, 2017, and 2016, respectively, since their effect was anti-dilutive. These options may become dilutive in the future.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Leases

The Company leases space for certain of its child care and early education centers, corporate offices, call centers, and to a lesser extent, various office equipment, 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, 2018, 2017, and 2016 totaled $127.4 million, $116.7 million and $103.1 million, respectively.

Future minimum payments under noncancelable operating leases as of December 31, 2018 are as follows for the years ending December 31 (in thousands):



2019	$	120,352
2020	114,628
2021	101,710
2022	95,529
2023	87,530
Thereafter	476,861
Total future minimum lease payments	$	996,610

Letters of Credit

The Company has 47 letters of credit outstanding used to guarantee certain rent payments for up to $1.9 million. These letters of credit are guaranteed by cash deposits included in prepaid expenses and other current assets in the consolidated balance sheet. 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, 2018
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 $3.4 million, $3.0 million and $2.7 million for the years ended December 31, 2018, 2017 and 2016, respectively. The Company maintains a Non-qualified Deferred Compensation Plan (the “NQDC Plan”) for 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 $6.4 million and $6.7 million at December 31, 2018, respectively. Total investments and plan liabilities were $5.1 million and $5.3 million at December 31, 2017, respectively.

Segment and Geographic Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment and Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

Bright Horizons’ services are comprised of full service center-based child care, back-up care, and 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. The Company’s back-up care segment consists of center-based back-up child care, and in-home child and adult/elder dependent care. The Company’s educational advisory services segment consists 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 segment asset information is produced or included herein. Revenue and income from operations by reportable segment is as follows (in thousands):



	Full service center-based child care		Back-up care		Educational advisory services		Total
Year ended December 31, 2018
Revenue	$	1,586,323	$	245,498	$	71,361	$	1,903,182
Income from operations ⁽¹⁾	152,006		68,462		18,627		239,095
Year ended December 31, 2017
Revenue	$	1,457,754	$	224,264	$	58,887	$	1,740,905
Income from operations ⁽²⁾	130,289		60,373		14,777		205,439
Year ended December 31, 2016
Revenue	$	1,321,699	$	200,106	$	48,036	$	1,569,841
Income from operations ⁽³⁾	129,693		57,620		9,925		197,238


(1)	For the year ended December 31, 2018, income from operations includes $1.9 million of transaction costs related to an amendment to the credit agreement, a secondary offering, and completed acquisitions, all of which were allocated to the full service center-based child care segment.


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


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

Refer to Note 2, “Revenue Recognition,” for revenue by geographic region. Long-lived assets by geographic region are as follows (in thousands):



	December 31,
Long-lived assets	2018		2017		2016
North America	$	347,715	$	333,526	$	322,267
Europe	249,426		241,659		207,165
Total long-lived assets	$	597,141	$	575,185	$	529,432

The classification “North America” is comprised of the Company’s United States, Canada and Puerto Rico operations and the classification “Europe” includes the United Kingdom, Netherlands, and India operations. Long-lived assets were $346.3 million, $331.8 million, and $320.5 million at December 31, 2018, 2017, and 2016, respectively, in the United States, and $231.8 million, $226.5 million, and $193.9 million at December 31, 2018, 2017, and 2016, respectively, in the United Kingdom. Long-lived assets associated with other countries were not material.

Quarterly Results (Unaudited)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017 (in thousands, except share and per share amounts):



	March 31, 2018		June 30, 2018		September 30, 2018		December 31, 2018
Revenue	$	463,657	$	489,699	$	471,585	$	478,241
Gross profit	113,544		126,037		113,040		120,634
Income from operations	55,284		64,624		55,460		63,727
Net income	37,298		40,426		33,600		46,657
Allocation of net income to common stockholders:
Common stock—basic	37,100		40,196		33,409		46,391
Common stock—diluted	37,104		40,200		33,413		46,397
Earnings per common share:
Common stock—basic	$	0.64	$	0.70	$	0.58	$	0.80
Common stock—diluted	$	0.62	$	0.68	$	0.57	$	0.79



	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.

Organization and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Deferred Revenue	Deferred Revenues The Company’s payment terms vary by the type of services offered. Tuition collected from parents is typically billed and collected monthly in advance. Fees collected from employer sponsors may be billed annually or quarterly in advance or may be billed monthly in arrears. The Company’s standard payment terms generally align with the timing of the services performed and do not include a financing component. The Company has the unconditional right to consideration as it satisfies the performance obligations, therefore no contractual assets are recognized. The Company records deferred revenues when payments are received in advance of the Company’s performance under the contract, which are recognized as revenue as the performance obligation is satisfied. During the year ended December 31, 2018, $154.9 million was recognized as revenue related to the deferred revenue balance recorded at December 31, 2017. There were no significant changes in deferred revenue during the year ended December 31, 2018 related to business combinations, impairments, cumulative catch-up or other adjustments.
Organization	Organization — Bright Horizons Family Solutions Inc. (“Bright Horizons” or the “Company”) provides center-based child care and early education, back-up care (for children and adult/elders), tuition reimbursement program management and related educational consulting services, college admissions advisory services, and other support services for employers and families 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 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 principal 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: 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 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 care services through its own centers and in-home providers, and through its back-up care network, 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, restricted cash, 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, 2018, the carrying value and estimated fair value of long-term debt were $1.1 billion and $1.0 billion, respectively. As of December 31, 2017, the carrying value and estimated fair value of long-term was $1.1 billion. In 2017, the Company entered into interest rate swap agreements, which are included in other assets on the consolidated balance sheet at fair value. As of December 31, 2018 and 2017, the fair value of the interest rate swaps were $7.9 million and $3.8 million, respectively, 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. The Company believes that no significant credit concentration risk existed at December 31, 2018 and 2017.
Cash, cash equivalents,and restricted cash	Cash, cash equivalents, and restricted cash — The Company considers all highly liquid investments with maturities, when purchased, of three months or less to be cash equivalents. 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 $17.8 million and $18.0 million in book overdrafts at December 31, 2018 and 2017, respectively, included in accounts payable on the consolidated balance sheet. The Company’s cash and cash equivalents that are restricted in nature as to withdrawal or usage is included in prepaid expenses and other current assets or other assets. Restricted cash is primarily comprised of cash equivalents associated with the Company’s wholly-owned captive insurance company and cash deposits that guarantee letters of credit.
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, 2018 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, 2018, 2017, or 2016. 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, 2018, 2017 or 2016 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 restricted cash related to a deposit of $20.0 million in the Company’s wholly-owned captive insurance entity, and an investment of $2.9 million, primarily in a private company and a limited partnership. The equity investments without readily determinable fair value are measured at cost, less impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions.
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 as described in Note 2, “Revenue Recognition.”
Leases	Leases and Deferred Rent — The Company primarily leases space for certain of its centers, corporate offices, and call centers. 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 and Deferred Financing Costs — Original issue discounts on the Company’s debt and 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	General The Company generates revenue from services based on the consideration specified in contracts with customers, which primarily consist of employer sponsors and parents. The Company recognizes revenue when a performance obligation is satisfied by transferring control of the promised services to a customer, in an amount that reflects the consideration that the Company expects to receive in exchange for those services. A performance obligation is a promise in a contract to transfer a distinct service to the customer. At contract inception, the Company assesses the services promised in the contract and identifies each distinct performance obligation. To identify the performance obligations, the Company considers the services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. The transaction price of a contract is allocated to each distinct performance obligation using the relative stand-alone selling price and recognized as revenue when, or as, control of the service is passed to the customer. Revenue is recognized over time because control of the service is transferred continuously to our customers. Nature of Services The Company’s services are comprised of full service center-based child care, back-up care, and educational advisory services, which also represent the Company’s operating and reportable segments. Full Service Center-Based Child Care Full service center-based child care includes traditional center-based child care and early education, preschool, and elementary education. Revenue generated from full service center-based child care services is primarily comprised of tuition paid by parents and fees from contractual arrangements with employer sponsors. Tuition is determined based on the age of the child, the child’s attendance schedule, and geographic location. Tuition is typically billed on a monthly basis, which is consistent with the timing of the delivery of services. The Company enters into contracts with employer sponsors to manage and operate their child care and early education centers for a management fee. These arrangements generally have a contractual term of three to ten years with varying terms and renewal options, and may also include operating subsidies paid either in lieu of or to supplement parent tuition. Management fees and subsidies are typically billed on a monthly basis, which is consistent with the timing of the delivery of services. Revenue from fixed and variable fees for full service center-based child care is recognized over time as services are rendered. Back-Up Care Services Back-up care services consist of center-based back-up child care, and in-home care for children and adult/elder dependents. The Company provides back-up care services through the Company’s full-service and dedicated back-up centers, and in-home care providers, as well as through the back-up care network. Bright Horizons back-up care offers access to a contracted network of in-home service agencies and center-based providers in locations where the Company does not otherwise have in-home care providers or centers with available capacity. Back-up care revenue is primarily comprised of fixed and variable fees or subsidies paid by employer sponsors and co-payments collected from users at the point of service. These arrangements generally have contractual terms of three years with varying terms and renewal options. Fees for back-up care services are typically determined based on the number of back-up uses and are generally billed monthly as services are rendered or in advance. Revenue for back-up care is recognized over time as services are rendered. Educational Advisory Services The Company’s educational advisory services consist of tuition reimbursement program management and related educational consulting services (“EdAssist Solutions”), college admissions advisory services (“Education and College Advising”, also known as “College Coach”), and other employer sponsored services. Educational advisory services revenue is primarily comprised of fixed and variable fees paid by employer clients, as well as retail fees collected from users at the point of service. These arrangements generally have contractual terms of one to three years with varying terms and renewal options. Fees for educational advisory services are determined based on the expected number of program participants and the services selected, and are generally billed in advance. Revenue for educational advisory services is recognized over time as services are rendered.
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. Excess tax benefits (deficiencies) associated with stock-based compensation are recognized as income tax benefits (expenses) on the income statement. For the year ended December 31, 2016, excess tax benefits (deficiencies) were recorded to additional paid-in capital on the balance sheet as permitted under previous guidance.
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 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 equally 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 the treasury stock method, or the two-class method for all outstanding stock options
New Accounting Pronouncements	Recently Adopted Pronouncements — In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (the “new revenue guidance”), which provides a single comprehensive model for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers control over 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. The Company adopted the new revenue guidance using the modified retrospective method on January 1, 2018. Therefore, the comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. The Company evaluated each revenue stream and applied the new revenue guidance as further discussed in Note 2, “Revenue Recognition.” There was no material impact on the timing or amount of revenue recognized upon adoption and any cumulative prior period adjustment was determined to be immaterial and therefore there were no adjustments recorded to the opening balance of retained earnings upon adoption. The Company’s internal controls were not significantly impacted as a result of this accounting change and the Company has made the necessary changes to accounting policies and internal processes to support the new revenue guidance, including the related disclosures. The Company expects the impact of the adoption of the new standard to be immaterial to the results of operations on an ongoing basis. In November 2016, the FASB issued ASU 2016-18, Restricted Cash, which requires amounts generally described as restricted cash or restricted cash equivalents to be included with cash and cash equivalents in the statement of cash flows when reconciling the beginning and end of period balances for all periods presented. The update is effective for annual reporting periods beginning after December 15, 2017. The Company adopted the standard retrospectively, and as such, changes in restricted cash that have historically been presented in operating activities have now been excluded and restricted cash is combined with cash and cash equivalents when reconciling the beginning and end of year balances for all periods presented. The adoption of this guidance resulted in an increase of $9.7 million, $11.9 million, and a decrease of $0.1 million to net cash provided by operating activities for the years ended December 31, 2018, 2017 and 2016, respectively. The adoption of this guidance had no impact on the consolidated statements of income and balance sheets. In March 2016, the FASB issued 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. 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 $12.1 million and $26.5 million for the years ended December 31, 2018 and 2017, respectively, in relation to the excess tax benefits associated with the exercise of stock options and vesting of restricted stock. Tax benefits from stock options 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 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, with early adoption permitted, and is to be applied using a modified retrospective approach. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which approved a transition method that provides the option to use the effective date as the date of initial application on transition. The Company plans to elect this transition method, and as a result, the Company will not adjust comparative information for prior periods. The Company is progressing with its preparation for the adoption and implementation of this new accounting standard, and related changes to accounting policies, internal processes, and internal controls. The Company anticipates that the adoption of this standard will have a material impact on the Company’s consolidated balance sheet as a lease liability associated with the remaining lease payments will be recorded on the consolidated balance sheet for all long-term leases, with recognition of a right-of-use asset. The adoption is not expected to have a material impact on the consolidated statements of income or cash flows. The majority of the Company’s lease portfolio represents leases of real estate for centers and corporate offices. The Company’s future noncancelable lease obligations as of December 31, 2018 are disclosed in Note 13, “Commitments and Contingencies.” 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, 2018

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)
	Year ended December 31,
	2016
Revenue	$	1,649,665
Net income	$	96,033

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2018

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 care			Educational advisory services		Total
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
Additions from acquisitions	60,266			—			—		60,266
Effect of foreign currency translation	(19,447		)	—			—		(19,447		)
Balance at December 31, 2018	$	1,155,705		$	168,105		$	23,801	$	1,347,611

Intangible Assets Subject to Amortization

The Company also has intangible assets, which consist of the following at December 31, 2018 and 2017 (in thousands):



December 31, 2018:	Weighted average amortization period	Cost		Accumulated amortization			Net carrying amount
Definite-lived intangibles:
Customer relationships	15 years	$	391,220	$	(253,588	)	$	137,632
Trade names	7 years	10,183		(5,609		)	4,574
		401,403		(259,197		)	142,206
Indefinite-lived intangibles:
Trade names	N/A	180,829		—			180,829
		$	582,232	$	(259,197	)	$	323,035



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

Estimated Future Amortization Expense

The Company estimates that it will record amortization expense related to intangible assets existing as of December 31, 2018 as follows over the next five years (in thousands):



	Estimated amortization expense
2019	$	30,506
2020	$	27,942
2021	$	25,830
2022	$	23,484
2023	$	22,346

Credit Arrangements and Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Outstanding term loan borrowings were as follows (in thousands):



	December 31,
	2018			2017
Term loans	$	1,056,188		$	1,066,938
Deferred financing costs and original issue discount	(8,568		)	(10,177		)
Total debt	1,047,620			1,056,761
Less current maturities	10,750			10,750
Long-term debt	$	1,036,870		$	1,046,011

Future Minimum Payments of Long-Term Debt

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



2019	$	10,750
2020	10,750
2021	10,750
2022	10,750
2023	1,013,188
Total future principal payments	$	1,056,188

Schedule of Derivative Assets at Fair Value

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



	Consolidated balance sheet	December 31,
	classification	2018		2017
Interest rate swaps—asset	Other assets	$	7,901	$	3,767

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

For the year ended December 31, 2018, 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 gain reclassified into earnings			Total effect on other comprehensive income
Interest rate swaps	$	4,549		Interest expense—net	$	415		$	4,134
Income tax effect	(1,224		)	Income tax expense	(123		)	(1,101		)
Net of income taxes	$	3,325			$	292		$	3,033

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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 2
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-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 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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,
	2018		2017		2016
United States	$	157,533	$	116,225	$	132,846
Foreign	34,054		45,175		10,351
Total	$	191,587	$	161,400	$	143,197

Components of Income Tax (Benefit) Expense

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



	Years ended December 31,
	2018			2017			2016
Current tax expense
Federal	$	25,225		$	29,733		$	42,691
State	9,915			4,531			10,752
Foreign	3,935			7,735			7,115
	39,075			41,999			60,558
Deferred tax (benefit) expense
Federal	(188		)	(36,794		)	(6,463		)
State	(2,550		)	612			(2,069		)
Foreign	(2,731		)	(1,380		)	(3,589		)
	(5,469		)	(37,562		)	(12,121		)
Income tax expense	$	33,606		$	4,437		$	48,437

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,
	2018			2017			2016
Federal tax expense computed at statutory rate	$	40,233		$	56,490		$	50,119
State tax expense, net of federal tax	6,466			2,881			6,374
Valuation allowance, net	—			(1,028		)	(107		)
Intercompany interest	(8,367		)	(5,074		)	(6,953		)
Permanent differences and other, net	(1,417		)	1,041			(389		)
Stock-based compensation	(9,446		)	(22,757		)	—
Change in tax rate	(548		)	(32,844		)	(96		)
Transition Tax	—			11,027			—
Global Intangible Low-Taxed Income	2,893			—			—
Change to uncertain tax positions, net	1,657			614			432
Foreign rate differential	2,135			(5,913		)	(943		)
Income tax expense	$	33,606		$	4,437		$	48,437

Components of Net Deferred Tax Liability

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



	December 31,
	2018			2017
Deferred tax assets:
Reserve on assets	$	554		$	605
Net operating loss carryforwards	424			304
Liabilities not yet deductible	31,641			28,951
Deferred revenue	2,403			2,934
Stock-based compensation	8,502			8,024
Other	3,591			2,608
Total deferred tax assets	47,115			43,426
Deferred tax liabilities:
Intangible assets	(93,180		)	(97,674		)
Depreciation	(25,128		)	(19,685		)
Total deferred tax liabilities	(118,308		)	(117,359		)
Net deferred tax liability	$	(71,193	)	$	(73,933	)

Reconciliation of Unrecognized Tax Benefits

The changes in the unrecognized tax benefits are as follows (in thousands):



	Years ended December 31,
	2018			2017		2016
Beginning balance	$	1,903		$	1,096	$	706
Additions for tax positions of prior years	2,937			—		—
Additions for tax positions of current year	684			650		443
Reductions for tax positions of prior years	—			—		(27		)
Effect of foreign currency adjustments	(80		)	157		(26		)
Ending balance	$	5,444		$	1,903	$	1,096

Stockholders' Equity and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

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,
	2018	2017	2016
Expected dividend yield	0.0%	0.0%	0.0%
Expected stock price volatility	26.0%	30.0%	30.0%
Risk free interest rate	2.6%	1.9%	1.4%
Expected life of options (years)	5.3	5.3	5.3
Weighted average fair value per share of options granted during the period	$28.62	$22.08	$19.35

Nonvested Restricted Stock Shares Activity

The table below reflects restricted stock activity under the Company’s equity plan for the year ended December 31, 2018.



	Number of Shares		Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value (In millions)
Non-vested restricted stock shares at January 1, 2018	380,950		$	30.24	$	24.6
Granted	93,139		47.85
Vested	(144,000	)	24.22
Forfeited	—		—
Non-vested restricted stock shares at December 31, 2018	330,089		$	37.84	$	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, 2018.



	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, 2018	4.4	2,674,842		$	44.53
Granted		479,836		98.40
Exercised		(627,480	)	29.44
Forfeited/Expired		(110,993	)	64.65
Outstanding at December 31, 2018	4.1	2,416,205		$	58.22	$	128.7
Exercisable at December 31, 2018	2.6	791,983		$	27.89	$	66.2
Vested and expected to vest at December 31, 2018	4.0	2,293,348		$	56.84	$	125.3

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2018

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,
	2018		2017		2016
Basic earnings per share:
Net income	$	157,981	$	156,963	$	94,760
Allocation of net income to common stockholders:
Common stock	$	157,096	$	155,995	$	93,919
Unvested participating shares	885		968		841
	$	157,981	$	156,963	$	94,760

Weighted average number of common shares:
Common stock	57,812,602		58,873,196		59,229,069
Unvested participating shares	325,289		366,029		531,364
Earnings per common share:
Common stock	$	2.72	$	2.65	$	1.59

Earnings Per Share, Diluted



	Years ended December 31,
	2018			2017			2016
Diluted earnings per share:
Earnings allocated to common stock	$	157,096		$	155,995		$	93,919
Plus earnings allocated to unvested participating shares	885			968			841
Less adjusted earnings allocated to unvested participating shares	(867		)	(947		)	(822		)
Earnings allocated to common stock	$	157,114		$	156,016		$	93,938

Weighted average number of common shares:
Common stock	57,812,602			58,873,196			59,229,069
Effect of dilutive securities	1,188,067			1,380,495			1,365,826
	59,000,669			60,253,691			60,594,895
Earnings per common share:
Common stock	$	2.66		$	2.59		$	1.55

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Payments under Non-Cancelable Operating Leases

Future minimum payments under noncancelable operating leases as of December 31, 2018 are as follows for the years ending December 31 (in thousands):



2019	$	120,352
2020	114,628
2021	101,710
2022	95,529
2023	87,530
Thereafter	476,861
Total future minimum lease payments	$	996,610

Future Minimum Payments of Long-Term Debt

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



2019	$	10,750
2020	10,750
2021	10,750
2022	10,750
2023	1,013,188
Total future principal payments	$	1,056,188

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Income from Operations by Segment

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 segment asset information is produced or included herein. Revenue and income from operations by reportable segment is as follows (in thousands):



	Full service center-based child care		Back-up care		Educational advisory services		Total
Year ended December 31, 2018
Revenue	$	1,586,323	$	245,498	$	71,361	$	1,903,182
Income from operations ⁽¹⁾	152,006		68,462		18,627		239,095
Year ended December 31, 2017
Revenue	$	1,457,754	$	224,264	$	58,887	$	1,740,905
Income from operations ⁽²⁾	130,289		60,373		14,777		205,439
Year ended December 31, 2016
Revenue	$	1,321,699	$	200,106	$	48,036	$	1,569,841
Income from operations ⁽³⁾	129,693		57,620		9,925		197,238


(1)	For the year ended December 31, 2018, income from operations includes $1.9 million of transaction costs related to an amendment to the credit agreement, a secondary offering, and completed acquisitions, all of which were allocated to the full service center-based child care segment.


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


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

Revenue and Long-Lived Assets by Geographic Region

Refer to Note 2, “Revenue Recognition,” for revenue by geographic region. Long-lived assets by geographic region are as follows (in thousands):



	December 31,
Long-lived assets	2018		2017		2016
North America	$	347,715	$	333,526	$	322,267
Europe	249,426		241,659		207,165
Total long-lived assets	$	597,141	$	575,185	$	529,432

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Selected quarterly financial information follows for the years ended December 31, 2018 and 2017 (in thousands, except share and per share amounts):



	March 31, 2018		June 30, 2018		September 30, 2018		December 31, 2018
Revenue	$	463,657	$	489,699	$	471,585	$	478,241
Gross profit	113,544		126,037		113,040		120,634
Income from operations	55,284		64,624		55,460		63,727
Net income	37,298		40,426		33,600		46,657
Allocation of net income to common stockholders:
Common stock—basic	37,100		40,196		33,409		46,391
Common stock—diluted	37,104		40,200		33,413		46,397
Earnings per common share:
Common stock—basic	$	0.64	$	0.70	$	0.58	$	0.80
Common stock—diluted	$	0.62	$	0.68	$	0.57	$	0.79



	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

Organization and Significant Accounting Policies - Additional Information (Detail) - USD ($)		12 Months Ended			71 Months Ended
	Jan. 30, 2013	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018	Jun. 12, 2018	Aug. 05, 2016	Feb. 04, 2015
Stock Offerings [Abstract]
Issuance of Class L common stock (in shares)	11,600,000
Preferred stock, authorized (in shares)		25,000,000	25,000,000		25,000,000
Shares authorized to be repurchased by BOD						$ 300,000,000		$ 300,000,000
Remaining authorized repurchase amount		$ 259,000,000			$ 259,000,000	$ 34,900,000	$ 34,900,000
Foreign Currency [Abstract]
Cumulative translation adjustment, net of tax, period increase (decrease)			$ 1,700,000
Cash and Cash Equivalents [Abstract]
Cash equivalent investments			0
Book overdrafts		$ 17,800,000	18,000,000		17,800,000
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
Other Long-term Assets [Abstract]
Deposits with captive insurance entity		20,000,000			20,000,000
Other long term assets, cost basis investment		2,900,000			$ 2,900,000
New Accounting Pronouncements [Abstract]
Increase (decrease) in restricted cash for operating activities		9,700,000	11,900,000	$ (100,000)
Excess Tax Benefit from Share-based Compensation, Operating Activities		$ 12,100,000	$ 26,500,000
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)		4,600,000	8,200,000	4,100,000	52,300,000
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)		800,000	1,700,000	1,000,000
Fair Value, Inputs, Level 1 \| Estimate of Fair Value Measurement
Stock Offerings [Abstract]
Long-term debt fair value		$ 1,000,000,000	$ 1,100,000,000		$ 1,000,000,000
Interest Rate Swap \| Fair Value, Inputs, Level 2 \| Estimate of Fair Value Measurement
Stock Offerings [Abstract]
Interest rate swaps - asset		$ 7,901,000	$ 3,767,000		$ 7,901,000

Organization and Significant Accounting Policies - Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 2,429	$ 1,054	$ 1,556
Provision	1,148	2,537	839
Write offs and recoveries	(1,063)	(1,162)	(1,341)
Ending balance	$ 2,514	$ 2,429	$ 1,054

Revenue Recognition Disaggregation Of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 1,903,182	$ 1,740,905	$ 1,569,841
North America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,455,349	1,353,032	1,277,165
Europe And Other
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	447,833	387,873	292,676
Full service center-based child care
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,586,323	1,457,754	1,321,699
Full service center-based child care \| North America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	1,144,932	1,074,270	1,032,939
Full service center-based child care \| Europe And Other
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	441,391	383,484	288,760
Back-up dependent care
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	245,498	224,264	200,106
Back-up dependent care \| North America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	239,056	219,875	196,190
Back-up dependent care \| Europe And Other
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	6,442	4,389	3,916
Educational advisory services
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	71,361	58,887	48,036
Educational advisory services \| North America
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	71,361	58,887	48,036
Educational advisory services \| Europe And Other
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 0	$ 0	$ 0

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
Revenue Recognition (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Revenue	$ 478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 1,903,182	$ 1,740,905	$ 1,569,841
Deferred revenue, revenue recognized									154,900
United States
Disaggregation of Revenue [Line Items]
Revenue									1,500,000		1,300,000
United Kingdom
Disaggregation of Revenue [Line Items]
Revenue									$ 371,500	$ 328,000	$ 248,200

Acquisitions - Additional Information (Detail) $ in Thousands		3 Months Ended								12 Months Ended
	Nov. 10, 2016 USD ($) property	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) Center	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) Center Business	Dec. 31, 2017 USD ($) Center Business	Dec. 31, 2016 USD ($) Center Business
Business Acquisition [Line Items]
Goodwill		$ 1,347,611				$ 1,306,792				$ 1,347,611	$ 1,306,792
Total revenues contributed by acquired business		478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	1,903,182	1,740,905	$ 1,569,841
UNITED STATES
Business Acquisition [Line Items]
Total revenues contributed by acquired business										1,500,000		1,300,000
United Kingdom
Business Acquisition [Line Items]
Total revenues contributed by acquired business										$ 371,500	$ 328,000	$ 248,200
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
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired \| Business										7	7	4
Cash consideration to acquire business, gross										$ 66,800	$ 21,500	$ 18,100
Cash acquired		4,200				$ 300				4,200	300	300
Business combination, contingent consideration, liability		5,400				200				5,400	200
Goodwill		60,300				14,300				60,300	14,300	17,100
Intangible assets consisting of customer relationships and trade names		8,600				2,300				8,600	2,300	$ 3,300
Intangible asset useful life												5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings		8,300				7,300				8,300	7,300
Deferred tax liabilities						(600)					(600)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		1,100				(1,300)				$ 1,100	$ (1,300)	$ 1,800
Business Combination, Consideration Transferred, Liabilities Incurred												$ 1,100
Series of Individually Immaterial Business Acquisitions [Member] \| NETHERLANDS
Business Acquisition [Line Items]
Number of centers acquired \| Center										10	10
Series of Individually Immaterial Business Acquisitions [Member] \| UNITED STATES
Business Acquisition [Line Items]
Number of centers acquired \| Center										6	3	4
Cash consideration to acquire business, gross												$ 10,400
Cash acquired												300
Business combination, contingent consideration, liability												3,800
Goodwill												9,200
Intangible assets consisting of customer relationships and trade names												$ 4,900
Intangible asset useful life												5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net												$ 400
Series of Individually Immaterial Business Acquisitions [Member] \| United Kingdom
Business Acquisition [Line Items]
Number of centers acquired \| Center										20	1	8
Series of Individually Immaterial Business Acquisitions [Member] \| Maximum
Business Acquisition [Line Items]
Intangible asset useful life										5 years	5 years
Conchord Limited Asquith
Business Acquisition [Line Items]
Number of centers acquired \| property	90
Cash acquired						5,285					$ 5,285	$ 5,210
Goodwill						116,800					116,800	122,714
Intangible assets consisting of customer relationships and trade names						12,400					12,400	10,540
Deferred tax liabilities						(4,800)					(4,800)	(7,793)
Acquisition related costs												1,400
Fixed assets						$ 95,500					$ 95,500	96,868
Properties acquired \| property	39
Transaction costs												4,300
Total revenues contributed by acquired business												11,300
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
Customer Relationships \| Series of Individually Immaterial Business Acquisitions [Member] \| Minimum
Business Acquisition [Line Items]
Intangible asset useful life										2 years	3 years
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
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
Contingent Consideration Type [Domain] \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 3,100								$ 3,100

Acquisitions - Allocation of Purchase Price (Detail) $ in Thousands		3 Months Ended								12 Months Ended
	Nov. 10, 2016 USD ($) property	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) Center	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) Center Business	Dec. 31, 2017 USD ($) Center Business	Dec. 31, 2016 USD ($) Center Business
Business Acquisition [Line Items]
Revenue		$ 478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 1,903,182	$ 1,740,905	$ 1,569,841
Goodwill		1,347,611				1,306,792				$ 1,347,611	$ 1,306,792
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of Businesses Acquired \| Business										7	7	4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities						600					$ 600
Cash consideration to acquire business, gross										$ 66,800	21,500	$ 18,100
Business combination, contingent consideration, liability		5,400				200				5,400	200
Business Combination, Consideration Transferred, Liabilities Incurred												1,100
Cash		4,200				300				4,200	300	300
Intangible assets		8,600				2,300				8,600	2,300	$ 3,300
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life												5 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Buildings		8,300				7,300				8,300	7,300
Goodwill		60,300				14,300				60,300	14,300	$ 17,100
Business Acquisition, Goodwill, Expected Tax Deductible Amount		13,900								13,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		1,100				(1,300)				1,100	(1,300)	1,800
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities		$ 1,900								$ 1,900
Conchord Limited Asquith
Business Acquisition [Line Items]
Business Acquisition, Transaction Costs												4,300
Revenue												11,300
Number Of Facilities Acquired \| property	90
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities						4,800					4,800	7,793
Cash						5,285					5,285	5,210
Prepaid expenses and other assets						5,463					5,463	5,700
Fixed assets						95,500					95,500	96,868
Number of Properties Acquired \| property	39
Intangible assets						12,400					12,400	10,540
Goodwill						$ 116,800					116,800	122,714
Purchase price	$ 206,100										$ 206,101	206,101
Business Combination, Acquisition Related Costs												1,400
NETHERLANDS \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number Of Facilities Acquired \| Center										10	10
UNITED STATES
Business Acquisition [Line Items]
Revenue										$ 1,500,000		$ 1,300,000
UNITED STATES \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number Of Facilities Acquired \| Center										6	3	4
Cash consideration to acquire business, gross												$ 10,400
Business combination, contingent consideration, liability												3,800
Cash												300
Intangible assets												$ 4,900
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life												5 years
Goodwill												$ 9,200
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net												400
UNITED KINGDOM
Business Acquisition [Line Items]
Revenue										$ 371,500	$ 328,000	$ 248,200
UNITED KINGDOM \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number Of Facilities Acquired \| Center										20	1	8
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
Customer Relationships [Member] \| Conchord Limited Asquith
Business Acquisition [Line Items]
Intangible assets	$ 9,900
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Trademarks [Member] \| Conchord Limited Asquith
Business Acquisition [Line Items]
Intangible assets	$ 2,500
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years
Technology-Based Intangible Assets [Member] \| UNITED STATES \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Intangible assets												$ 2,600
Maximum [Member] \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life										5 years	5 years
Minimum [Member] \| Customer Relationships [Member] \| Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life										2 years	3 years

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, 2018
Business Acquisition [Line Items]
Goodwill		$ 1,306,792		$ 1,347,611
Conchord Limited Asquith
Business Acquisition [Line Items]
Cash acquired		5,285	$ 5,210
Prepaid expense and other assets		5,463	5,700
Fixed assets		95,500	96,868
Intangible assets consisting of customer relationships and trade names		12,400	10,540
Goodwill		116,800	122,714
Total assets acquired		235,448	241,032
Accounts payable and accrued expenses		(17,127)	(18,696)
Deferred revenue and parent deposits		(4,368)	(5,394)
Deferred tax liabilities		(4,800)	(7,793)
Other long-term liabilities		(3,052)	(3,048)
Total liabilities assumed		(29,347)	(34,931)
Purchase price	$ 206,100	206,101	$ 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

Acquisitions - Summary of Operating Results (Detail) - Conchord Limited Asquith $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($)
Business Acquisition [Line Items]
Revenue	$ 1,649,665
Net income	$ 96,033

Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill [Roll Forward]
Beginning balance	$ 1,306,792
Ending balance	1,347,611	$ 1,306,792
Full service center-based child care
Goodwill [Roll Forward]
Beginning balance		1,075,796
Additions from acquisitions	60,266	14,269
Adjustments to prior year acquisitions		(5,596)
Effect of foreign currency translation	(19,447)	30,417
Back-up care
Goodwill [Roll Forward]
Beginning balance		168,108
Additions from acquisitions	0	0
Adjustments to prior year acquisitions		(3)
Effect of foreign currency translation	0	0
Educational advisory services
Goodwill [Roll Forward]
Beginning balance		23,801
Additions from acquisitions	0	0
Adjustments to prior year acquisitions		0
Effect of foreign currency translation	$ 0	$ 0

Goodwill and Intangible Assets - Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets [Line Items]
Net carrying amount	$ 323,035	$ 348,540
Customer relationships
Intangible Assets [Line Items]
Weighted average amortization period	15 years	15 years
Cost	$ 391,220	$ 396,428
Accumulated amortization	$ (253,588)	$ (234,742)
Trade names
Intangible Assets [Line Items]
Weighted average amortization period	7 years	7 years
Cost	$ 10,183	$ 10,224
Accumulated amortization	$ (5,609)	$ (4,566)
Non-compete agreements
Intangible Assets [Line Items]
Weighted average amortization period	0 years	0 years
Trade names
Intangible Assets [Line Items]
Indefinite-lived intangibles	$ 180,829	$ 181,196

Goodwill and Intangible Assets - Estimated Amortization Expense Related to Intangible Assets (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2017	$ 30,506
2018	27,942
2019	25,830
2020	23,484
2021	$ 22,346

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Prepaid Rent	$ 16,982	$ 15,553
Prepaid Taxes	1,582	1,249
Other Assets, Miscellaneous, Current	8,196	14,621
Expense Reimbursements Receivables	8,043	4,186
Prepaid workers compensation claims	4,465	6,136
Prepaid Expense, Current	4,967	5,008
Restricted Cash and Investments, Current	3,028	5,343	$ 1,422
Prepaid expenses and other current assets	$ 47,263	$ 52,096

Fixed Assets - Summary of Fixed Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 992,859	$ 916,166
Accumulated depreciation and amortization	(395,718)	(340,981)
Fixed assets, net	597,141	575,185
Buildings
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 187,406	182,701
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	$ 236,503	206,161
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	$ 467,243	423,624
Land
Property, Plant and Equipment [Line Items]
Total fixed assets	$ 101,707	$ 103,680

Fixed Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Construction in progress	$ 34,700	$ 31,200
Depreciation expense	$ 68,400	62,200	$ 55,600
Conchord Limited Asquith
Property, Plant and Equipment [Line Items]
Fixed assets		$ 95,500	$ 96,868

Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Accrued payroll and employee benefits	$ 67,609	$ 56,817
Accounts payable	35,937	31,719
Accrued insurance	9,020	8,565
Accrued Liabilities	6,359	1,500
Other accrued expenses	35,270	34,296
Accounts payable and accrued expenses	$ 154,195	$ 132,897

Other Current Liabilities - Summary of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables and Accruals [Abstract]
Customer amounts on deposit	$ 15,651	$ 17,294
Deferred rent and other occupancy costs	6,879	5,589
Liability for unvested restricted stock	3,636	3,487
Business Combination, Contingent Consideration, Liability, Current	1,930	1,341
Other current liabilities	1,293	1,821
Income taxes payable	835	4,680
Other current liabilities	$ 30,224	$ 34,212

Credit Arrangements and Debt Obligations - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Borrowings [Line Items]
Less current maturities	$ 10,750	$ 10,750
Long-term debt	1,036,870	1,046,011
Term Loan
Schedule Of Borrowings [Line Items]
Term loans	1,056,188	1,066,938
Deferred financing costs and original issue discount	(8,568)	(10,177)
Total debt	1,047,620	1,056,761
Less current maturities	10,750	10,750
Long-term debt	$ 1,036,870	$ 1,046,011

Credit Arrangements and Debt Obligations - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 07, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Oct. 16, 2017	Jan. 25, 2016
Debt Instrument [Line Items]
Borrowings under revolving credit facility		$ 118,200	$ 127,100
Amortization of deferred financing costs		1,500	1,400	$ 2,200
Amortization of original debt issuance costs		400	400	1,300
Loss on extinguishment of debt		0	0	$ (11,117)
Debt instrument term				7 years
Proceeds of debt used for business combination	$ 150,000
Debt Issuance Costs, Line of Credit Arrangements, Gross		6,700
Debt issuance costs		$ 2,700
Derivative, average fixed interest rate					3.65%
Bank Base Rate
Debt Instrument [Line Items]
Debt issuance interest rate, percentage added to base		0.75%
Senior Credit Facilities
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 1,300,000
Debt issuance, principal amount						$ 922,500
Corporate Debt Securities [Member]
Debt Instrument [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross		1,000	$ 2,800
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		4.27%	3.57%	3.50%
Debt issuance, weighted average interest rate		3.89%	3.53%	3.90%
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				$ 100,000
Effective interest rate for the term loans		4.76%	3.70%	5.50%
Debt issuance, weighted average interest rate		4.12%	4.10%	4.20%
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		0.75%
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			1.75%
Secured Term Loan \| Senior Credit Facilities
Debt Instrument [Line Items]
Debt issuance, quarterly principal payments		$ 2,700
Interest Rate Swap
Debt Instrument [Line Items]
Derivative, notional amount					$ 500,000

Credit Arrangements and Debt Obligations - Maturity Schedule (Details) - Term Loan $ in Thousands	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
2019	$ 10,750
2020	10,750
2021	10,750
2022	10,750
2023	1,013,188
Total debt	$ 1,056,188

Credit Arrangements and Debt Obligations - Derivative Assets at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
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	$ 7,901	$ 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, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Unrealized gain on derivatives, before reclassification, before tax	$ 4,549	$ 3,258
Unrealized gain on derivatives, before reclassification, tax	(1,224)	(1,303)
Unrealized gain on derivatives, before reclassification, net of tax	3,325	1,955
Reclassification adjustment from AOCI on derivatives, before tax	415	(509)
Reclassification adjustment from AOCI on derivatives, tax	(123)	204
Reclassification adjustment from AOCI on derivatives, net of tax	292	(305)
Derivatives qualifying as hedges, before tax	4,134	3,767
Derivatives qualifying as hedges, tax	(1,101)	(1,507)
Unrealized gain on interest rate swaps, net of tax	3,033	$ 2,260	$ 0
Loss that will be reclassified from accumulated other comprehensive income to interest expense	$ 3,200

Income Taxes - Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
United States	$ 157,533	$ 116,225	$ 132,846
Foreign	34,054	45,175	10,351
Income before income tax	$ 191,587	$ 161,400	$ 143,197

Income Taxes - Income Tax (Benefit) Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current tax expense
Federal	$ 25,225	$ 29,733	$ 42,691
State	9,915	4,531	10,752
Foreign	3,935	7,735	7,115
Current tax expense (benefit)	39,075	41,999	60,558
Deferred tax (benefit) expense
Federal	(188)	(36,794)	(6,463)
State	(2,550)	612	(2,069)
Foreign	(2,731)	(1,380)	(3,589)
Deferred tax (benefit) expense	(5,469)	(37,562)	(12,121)
Income tax expense	$ 33,606	$ 4,437	$ 48,437

Income Taxes - Reconciliation of Federal Statutory Rate to Effective Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Tax Cuts And Jobs Act Of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	$ 3,700	$ 22,300
Federal tax expense computed at statutory rate	40,233	56,490	$ 50,119
State tax expense, net of federal tax	6,466	2,881	6,374
Valuation allowance, net	0	(1,028)	(107)
Intercompany interest	(8,367)	(5,074)	(6,953)
Permanent differences and other, net	(1,417)	1,041	(389)
Stock-based compensation	(9,446)	(22,757)	0
Change in tax rate	(548)	(32,844)	(96)
Transition Tax	0	11,027	0
Global Intangible Low-Taxed Income	2,893	0	0
Change to uncertain tax positions, net	1,657	614	432
Foreign rate differential	2,135	(5,913)	(943)
Income tax expense	$ 33,606	$ 4,437	$ 48,437

Income Taxes - Components of Net Deferred Tax Liability (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Deferred Tax Liabilities, Deferred Expense	$ 2,700
Deferred tax assets:
Reserve on assets	554	$ 605
Net operating loss carryforwards	424	304
Liabilities not yet deductible	31,641	28,951
Deferred revenue	2,403	2,934
Stock-based compensation	8,502	8,024
Other	3,591	2,608
Deferred tax assets, gross	47,115	43,426
Deferred tax liabilities:
Intangible assets	(93,180)	(97,674)
Depreciation	(25,128)	(19,685)
Total deferred tax liabilities	(118,308)	(117,359)
Net deferred tax liability	$ (71,193)	$ (73,933)

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 100	$ 100	$ 0
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Beginning balance	1,903	1,096	706
Additions for tax positions of prior years	2,937	0	0
Additions for tax positions of current year	684	650	443
Reductions for tax positions of prior years	0	0	(27)
Increase resulting from foreign currency adjustments		157
Decrease resulting from foreign currency adjustments	(80)		(26)
Ending balance	$ 5,444	$ 1,903	$ 1,096

Income Taxes - Additional Information (Detail)	12 Months Ended
Income Taxes - Additional Information (Detail)	Dec. 31, 2018 USD ($) tax_audit	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Income Tax Disclosure [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Effective Income Tax Rate Reconciliation, Percent	17.50%	2.70%
Global Intangible Low-Taxed Income	$ 2,893,000	$ 0	$ 0
Excess Tax Benefit from Share-based Compensation, Operating Activities	$ 12,100,000	26,500,000
Fiscal Period Duration	8 years
Tax Cuts and Jobs Act of 2017, benefit	$ (3,700,000)	(22,300,000)
Deferred tax liability	71,193,000	73,933,000
Liability for interest and penalties	100,000	100,000	$ 0
Deferred tax asset, net operating losses, foreign	400,000
Undistributed earnings of foreign subsidiaries	$ 151,000,000
Likelihood for being realized upon settlement	50.00%
Unrecognized tax benefits that would impact the effective tax rate	$ 5,400,000
Tax Cuts and Jobs Act of 2017, deferred tax liability, provision income tax benefit	11,000,000
Minimum
Income Tax Disclosure [Line Items]
Change in uncertain tax positions	0
Maximum
Income Tax Disclosure [Line Items]
Change in uncertain tax positions	3,300,000
Foreign
Income Tax Disclosure [Line Items]
Net operating loss	$ 2,100,000
Net operating loss, expiration	2024
Foreign \| Minimum
Income Tax Disclosure [Line Items]
Statute of limitations	1 year
Foreign \| Maximum
Income Tax Disclosure [Line Items]
Statute of limitations	5 years
Federal State And Foreign
Income Tax Disclosure [Line Items]
Deferred tax liability	$ 1,300,000
State
Income Tax Disclosure [Line Items]
Number of State Audits Completed During Period \| tax_audit	0
Number of income tax audits pending \| tax_audit	1
Tax year subject to audit, start	2014
Tax year subject to audit, end	2017
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	4 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
Income (Loss) from Subsidiaries, Tax Expense (Benefit)		$ 7,000,000
IRELAND \| Europe
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, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jun. 12, 2018	Aug. 05, 2016	Feb. 04, 2015	Dec. 31, 2013	Jan. 30, 2013	Jan. 24, 2013
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		$ 300,000,000
Remaining authorized repurchase amount	$ 259,000,000				$ 34,900,000	$ 34,900,000
Retirement of treasury stock	0	$ 0	$ 0
Allocated Share-based Compensation Expense	13,800,000	12,100,000	11,600,000
Income tax benefit related to share based compensation	3,600,000	3,200,000	4,600,000
Fair value of options that vested	5,500,000	6,800,000	5,100,000
Proceeds from issuance of common stock upon exercise of options	18,476,000	22,625,000	11,679,000
Tax benefit realized from exercise of stock options	14,700,000	32,300,000	15,800,000
Excess tax benefits from stock option exercises	12,100,000	26,500,000
Excess tax benefits from stock-based compensation	$ 0	0	12,891,000
Granted (in shares)	479,836
Proceeds from issuance of restricted stock	$ 4,457,000	$ 4,363,000	$ 3,682,000
2012 Omnibus Long-Term Incentive Plan
Shareholders Equity And Share Based Payments [Line Items]
Shares available for grant (in shares)	1,300,000
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	$ 19,800,000
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]
Expected life of options (years)	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)	10,707
Equity instruments other than options, outstanding (in shares)	47,593
Equity instruments other than options, aggregate intrinsic value, outstanding	$ 5,300,000
Granted (in dollars per share)	$ 107.39
Award vesting period	5 years
Restricted Stock
Shareholders Equity And Share Based Payments [Line Items]
Compensation not yet recognized	$ 4,900,000
Percentage of price of Common Stock that preferred shares sold for	50.00%
Equity instruments other than options, outstanding (in shares)	330,089	380,950
Share-based Compensation Arrangement by Share-based Payment Award, Remaining Award Requisite Service Period	2 years
Selling, General and Administrative Expenses
Shareholders Equity And Share Based Payments [Line Items]
Allocated Share-based Compensation Expense	$ 13,100,000	$ 11,600,000	$ 11,000,000
Selling, General and Administrative Expenses \| Restricted Stock
Shareholders Equity And Share Based Payments [Line Items]
Allocated Share-based Compensation Expense	4,100,000	3,700,000	4,100,000
Cost of Sales
Shareholders Equity And Share Based Payments [Line Items]
Allocated Share-based Compensation Expense	700,000	500,000	600,000
Treasury Stock, at Cost
Shareholders Equity And Share Based Payments [Line Items]
Retirement of treasury stock	$ 126,739,000	$ 162,195,000	$ 112,792,000
Common Stock
Shareholders Equity And Share Based Payments [Line Items]
Retirement of treasury stock (in shares)	(1,212,436)	(1,968,415)	(1,745,505)
Retirement of treasury stock	$ (2,000)	$ (2,000)	$ (2,000)
Options, exercises in period, intrinsic value	$ 46,300,000	$ 66,600,000	$ 39,400,000
Granted (in dollars per share)	$ 98.40
Sponsor \| Secondary Offering
Shareholders Equity And Share Based Payments [Line Items]
Shares repurchased (in shares)	800,000	1,700,000	1,000,000

Stockholders' Equity and Stock-Based Compensation - Weighted Average Assumptions for Fair Value of Stock Option (Detail) - Common Stock - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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	26.00%	30.00%	30.00%
Risk free interest rate	2.60%	1.90%	1.40%
Expected life of options (years)	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	$ 28.62	$ 22.08	$ 19.35

Stockholders' Equity and Stock-Based Compensation - Stock Option Activity Under Equity Plan (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number of Options
Outstanding at beginning of period (in shares)	2,674,842
Granted (in shares)	479,836
Exercised (in shares)	(627,480)
Forfeited (in shares)	(110,993)
Outstanding at end of period (in shares)	2,416,205	2,674,842
Exercisable at end of period (in shares)	791,983
Vested and expected to vest (in shares)	2,293,348
Common Stock
Equity [Line Items]
Outstanding, years, duration	4 years 1 month 1 day	4 years 5 months 10 days
Exercisable, years, duration	2 years 7 months 10 days
Vested and expected to vest, years, duration	4 years
Number of Options
Exercised (in shares)	(627,480)	(1,194,160)	(761,452)
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 44.53
Granted (in dollars per share)	98.40
Exercised (in dollars per share)	29.44
Forfeited (in dollars per share)	64.65
Outstanding at end of period (in dollars per share)	58.22	$ 44.53
Exercisable at end of period (in dollars per share)	27.89
Vested and expected to vest at end of period (in dollars per share)	$ 56.84
Aggregate Intrinsic Value (In millions)
Outstanding at end of period	$ 128.7
Exercisable at end of period	66.2
Vested and expected to vest at end of period	$ 125.3

Stockholders' Equity and Stock-Based Compensation Stockholder's Equity and Stock-Based Compensation - Restricted Stock Activity (Details) - Restricted Stock - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Number of Shares
Nonvested restricted stock shares, beginning balance (in shares)	380,950
Granted (in shares)	93,139
Vested (in shares)	(144,000)
Forfeited (in shares)	0
Nonvested restricted stock shares, ending balance (in shares)	330,089
Weighted Average Grant Date Fair Value
Nonvested restricted stock shares, beginning of period (in dollars per share)	$ 30.24
Granted (in dollars per share)	47.85
Vested (in dollars per share)	24.22
Forfeited (in dollars per share)	0.00
Nonvested restricted stock shares, end of period (in dollars per share)	$ 37.84
Aggregate intrinsic value of nonvested restricted stock shares, end of period	$ 24.6	$ 24.6

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, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income									$ 157,981	$ 156,963	$ 94,760
Allocation of net income to common stockholders: common stock	$ 46,391	$ 33,409	$ 40,196	$ 37,100	$ 51,111	$ 30,905	$ 32,828	$ 41,151	157,096	155,995	93,919
Allocation of net income to common stockholders: Unvested participating shares									885	968	841
Net income (loss) available to common shareholders									157,981	156,963	94,760
Less adjusted earnings allocated to unvested participating shares									(867)	(947)	(822)
Less adjusted earnings allocated to common stock									$ 157,114	$ 156,016	$ 93,938
Weighted average number of common shares:
Common stock-basic (in shares)									57,812,602	58,873,196	59,229,069
Common stock-diluted (in shares)									59,000,669	60,253,691	60,594,895
Earnings (loss) per common share:
Common stock-basic (in dollars per share)	$ 0.80	$ 0.58	$ 0.70	$ 0.64	$ 0.88	$ 0.53	$ 0.56	$ 0.69	$ 2.72	$ 2.65	$ 1.59
Common stock-diluted (in dollars per share)	$ 0.79	$ 0.57	$ 0.68	$ 0.62	$ 0.86	$ 0.51	$ 0.54	$ 0.68	$ 2.66	$ 2.59	$ 1.55
Common Stock
Weighted average number of common shares:
Common stock-basic (in shares)									57,812,602	58,873,196	59,229,069
Weighted average number of common shares - effect of dilutive securities (in shares)									1,188,067	1,380,495	1,365,826
Common stock-diluted (in shares)									59,000,669	60,253,691	60,594,895
Earnings (loss) per common share:
Common stock-basic (in dollars per share)									$ 2.72	$ 2.65	$ 1.59
Common Stock \| Unvested Participating Shares
Weighted average number of common shares:
Common stock-basic (in shares)									325,289	366,029	531,364

Commitments and Contingencies - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($) LetterOfCredit	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Contingencies And Commitments [Line Items]
Rent expense	$ 127.4	$ 116.7	$ 103.1
Number of letters of credit outstanding \| LetterOfCredit	47
Letters of credit to guarantee certain rent payments	$ 1.9
Bank Base Rate
Contingencies And Commitments [Line Items]
Interest rate of overdraft facility	0.75%
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, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2017	$ 120,352
2018	114,628
2019	101,710
2020	95,529
2021	87,530
Thereafter	$ 476,861

Employee Benefit Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
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	$ 3,400,000	$ 3,000,000	$ 2,700,000
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	$ 6,400,000	5,100,000
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	$ 6,700,000	$ 5,300,000

Segment and Geographic Information - Income from Operations by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 1,903,182	$ 1,740,905	$ 1,569,841
Amortization of intangible assets									32,569	32,561	29,642
Income from operations	$ 63,727	$ 55,460	$ 64,624	$ 55,284	$ 52,266	$ 44,963	$ 56,806	$ 51,404	239,095	205,439	197,238
Operating Segments \| Full service center-based child care
Segment Reporting Information [Line Items]
Revenue									1,586,323	1,457,754	1,321,699
Income from operations									152,006	130,289	129,693
Operating Segments \| Back-up care
Segment Reporting Information [Line Items]
Revenue									245,498	224,264	200,106
Income from operations									68,462	60,373	57,620
Operating Segments \| Educational advisory services
Segment Reporting Information [Line Items]
Revenue									71,361	58,887	48,036
Income from operations									$ 18,627	$ 14,777	$ 9,925

Segment and Geographic Information - Income from Operations by Segment - Footnotes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Amortization of intangible assets	$ 32,569	$ 32,561	$ 29,642
Other expenses, debt Instrument amendment and acquisition related costs	$ 1,900	3,300	$ 2,500
IRELAND
Segment Reporting Information [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal		$ 3,700

Segment and Geographic Information - Revenue and Long-Lived Assets by Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 1,903,182	$ 1,740,905	$ 1,569,841
Long-lived assets	597,141				575,185				597,141	575,185	529,432
UNITED STATES
Segment Reporting Information [Line Items]
Revenue									1,500,000		1,300,000
Long-lived assets	346,300				331,800				346,300	331,800	320,500
North America
Segment Reporting Information [Line Items]
Long-lived assets	347,715				333,526				347,715	333,526	322,267
Europe and other
Segment Reporting Information [Line Items]
Long-lived assets	$ 249,426				$ 241,659				$ 249,426	$ 241,659	$ 207,165

Segment and Geographic Information - Additional Information (Detail) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) OperatingSegment	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments \| OperatingSegment									3
Other expenses, debt Instrument amendment and acquisition related costs									$ 1,900	$ 3,300	$ 2,500
Revenues	$ 478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	1,903,182	1,740,905	1,569,841
Long-lived assets	597,141				575,185				597,141	575,185	529,432
United States
Segment Reporting Information [Line Items]
Revenues									1,500,000		1,300,000
Long-lived assets	346,300				331,800				346,300	331,800	320,500
United Kingdom
Segment Reporting Information [Line Items]
Revenues									371,500	328,000	248,200
Long-lived assets	$ 231,800				$ 226,500				231,800	226,500	193,900
Operating Segments \| Full service center-based child care
Segment Reporting Information [Line Items]
Revenues									$ 1,586,323	$ 1,457,754	$ 1,321,699

Transactions with Related Parties - Additional Information (Detail) - shares shares in Millions		12 Months Ended			71 Months Ended
	Jan. 30, 2013	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2018
Related Party Transaction [Line Items]
Issuance of Class L common stock (in shares)	11.6
Secondary Offering
Related Party Transaction [Line Items]
Issuance of Class L common stock (in shares)		4.6	8.2	4.1	52.3
Secondary Offering \| Sponsor
Related Party Transaction [Line Items]
Shares repurchased (in shares)		0.8	1.7	1.0

Quarterly Results (Unaudited) - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 478,241	$ 471,585	$ 489,699	$ 463,657	$ 439,879	$ 433,316	$ 445,546	$ 422,164	$ 1,903,182	$ 1,740,905	$ 1,569,841
Gross profit	120,634	113,040	126,037	113,544	108,141	103,194	114,341	104,934	473,255	430,610	390,847
Income from operations	63,727	55,460	64,624	55,284	52,266	44,963	56,806	51,404	239,095	205,439	197,238
Net income (1)	46,657	33,600	40,426	37,298	51,444	31,105	33,040	41,374	157,981	156,963	94,760
Net income (loss) available to common shareholders - basic	46,391	33,409	40,196	37,100	51,111	30,905	32,828	41,151	157,096	155,995	93,919
Net income (loss) available to common shareholders - diluted	$ 46,397	$ 33,413	$ 40,200	$ 37,104	$ 51,117	$ 30,909	$ 32,833	$ 41,157	$ 157,114	$ 156,016	$ 93,938
Earnings (loss) per share:
Common stock-basic (in dollars per share)	$ 0.80	$ 0.58	$ 0.70	$ 0.64	$ 0.88	$ 0.53	$ 0.56	$ 0.69	$ 2.72	$ 2.65	$ 1.59
Common stock-diluted (in dollars per share)	$ 0.79	$ 0.57	$ 0.68	$ 0.62	$ 0.86	$ 0.51	$ 0.54	$ 0.68	$ 2.66	$ 2.59	$ 1.55
Tax Cuts and Jobs Act of 2017, benefit									$ (3,700)	$ (22,300)

Transactions with Related Parties	12 Months Ended
Transactions with Related Parties	Dec. 31, 2018
Related Party Transactions [Abstract]
Transactions with Related Parties	TRANSACTIONS WITH RELATED PARTIES Certain of the Company’s stockholders have sold shares of the Company’s common stock in secondary offerings totaling 4.6 million, 8.2 million, and 4.1 million shares in the years ended December 31, 2018, 2017, and 2016, respectively. The Company purchased 0.8 million, 1.7 million, and 1.0 million, of the shares sold in the secondary offerings in 2018, 2017, and 2016, respectively, from investment funds affiliated with Bain Capital Partners LLC and other selling stockholders at the same price per share paid by the underwriter to the selling stockholders. In the secondary offering completed March 2018, investment funds affiliated with Bain Capital Partners LLC sold their remaining holdings of the Company’s common stock.

Label	Element	Value
Restricted Cash and Investments, Noncurrent	us-gaap_RestrictedCashAndInvestmentsNoncurrent	$ 0
Restricted Cash and Investments, Noncurrent	us-gaap_RestrictedCashAndInvestmentsNoncurrent	8,000,000
Restricted Cash and Investments, Noncurrent	us-gaap_RestrictedCashAndInvestmentsNoncurrent	$ 20,000,000