CAMBIUM LEARNING GROUP, INC. ABCD Balance Sheet

Cambium learning group, inc. (ABCD)

Balance Sheet / TTM

Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Dec'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Dec'10
ASSETS
Current assets:
Cash and cash equivalents
26,255	4,680	4,450	8,493	12,093	4,646	4,608	4,930	11,738	4,868	4,900	8,645	33,513	34,387	29,674	41,239	67,993	53,793	46,271	31,149	51,904	35,139	31,603	41,768	63,191	53,812	12,578	11,831
Accounts receivable, net
26,327	13,277	7,419	12,937	30,689	12,384	7,968	13,378	29,490	12,815	9,574	14,640	28,876	14,304	16,929	10,599	15,767	31,551	20,900	18,152	17,813	32,915	25,299	10,649	13,485	30,972	35,837	31,627
Inventory
1,704	1,813	1,993	2,382	2,489	2,835	2,999	2,864	3,111	3,857	4,436	4,694	4,754	5,337	7,468	8,355	9,221	10,591	12,030	14,253	16,620	18,937	20,760	22,081	21,561	20,750	24,926	22,015
Tax receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	92	12,312	12,234	-	-	-	-	-	-	-
Deferred tax assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,800	2,800	2,800	-	3,703	3,703	3,703
Restricted assets, current
961	961	961	961	978	978	988	988	1,254	1,254	1,254	1,265	1,345	1,345	1,462	1,343	1,343	1,350	1,350	4,351	4,387	4,389	4,388	1,387	1,393	1,392	1,463	3,064
Assets held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	261	380	380	1,847	2,847	2,727	2,727	2,727	2,727	0
Other current assets
13,167	9,731	10,567	11,193	11,512	8,695	9,931	11,235	12,196	8,584	9,383	9,981	10,750	8,168	6,545	7,175	6,873	6,316	4,954	5,393	5,892	5,553	4,664	4,623	7,564	4,497	3,791	3,937
Total current assets
68,414	30,462	25,390	35,966	57,761	29,538	26,494	33,395	57,789	31,378	29,547	39,225	79,238	63,541	62,078	68,711	101,197	103,601	85,858	85,990	109,230	101,580	92,361	86,035	109,921	117,853	85,025	76,177
Property, equipment and software at cost
63,720	62,966	62,675	65,250	64,365	65,002	63,683	62,885	62,403	60,399	58,182	55,824	58,332	51,298	47,307	45,061	43,224	41,862	39,537	37,465	35,535	34,667	32,086	42,425	42,878	40,340	36,881	32,944
Accumulated depreciation and amortization
43,440	42,006	41,043	43,164	41,339	42,109	40,261	39,378	37,864	36,007	34,737	33,284	35,784	30,442	26,936	24,865	22,909	20,854	18,510	16,305	14,514	13,023	11,175	14,531	12,968	11,420	10,052	7,838
Property, equipment and software, net
20,280	20,960	21,632	22,086	23,026	22,893	23,422	23,507	24,539	24,392	23,445	22,540	22,548	20,856	20,371	20,196	20,315	21,008	21,027	21,160	21,021	21,644	20,911	27,894	29,910	28,920	26,829	25,106
Goodwill
43,518	43,518	43,518	43,518	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,842	47,404	47,404	47,404	47,404	99,597	99,597	114,297	114,297	151,915	151,915	151,915
Other intangible assets, net
-	-	-	-	-	1,010	1,138	4,001	1,589	1,970	2,351	2,731	3,307	5,209	6,924	7,811	8,719	6,508	7,446	8,383	9,320	19,966	22,310	24,653	26,996	25,538	28,045	33,063
Acquired publishing rights, net
-	-	-	-	-	293	439	-	804	1,022	1,240	1,459	1,785	2,762	3,734	4,219	4,705	5,429	6,154	6,878	7,602	19,910	22,227	24,544	26,861	29,822	32,784	38,707
Other intangible assets, net
2,858	3,108	3,357	3,607	2,858	1,936	2,043	-	2,393	2,672	2,952	3,231	3,548	4,499	5,242	5,870	6,251	6,481	6,933	7,385	7,836	15,517	16,381	17,246	18,111	18,910	19,984	22,132
Pre-publication costs, net
18,071	17,986	17,845	17,758	17,805	17,808	17,621	17,397	17,768	17,288	16,913	16,441	16,604	15,070	14,514	14,115	13,401	13,949	13,329	12,499	11,660	12,009	10,956	10,466	10,034	9,610	8,972	7,834
Restricted assets, less current portion
615	839	1,046	1,293	1,512	1,748	2,014	2,278	2,264	2,539	2,814	3,099	3,296	4,152	4,749	5,166	5,492	5,796	6,107	6,422	6,754	7,063	7,399	10,716	11,082	11,407	11,707	12,641
Deferred tax assets
27,497	30,020	30,602	30,614	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
4,040	3,372	3,515	3,712	4,171	3,440	3,298	3,520	4,481	4,671	4,695	4,817	7,609	5,286	9,746	10,126	8,288	9,325	9,341	9,294	9,632	21,505	21,843	22,142	22,468	22,177	22,262	15,487
Total assets
185,293	150,265	146,905	158,554	154,975	126,508	124,311	131,940	159,469	133,774	131,799	141,385	185,777	169,217	175,200	184,056	216,210	219,501	203,599	205,415	230,459	318,791	313,985	337,993	369,680	416,152	387,523	383,062
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable
2,344	2,075	1,841	2,388	3,117	2,452	2,156	2,172	2,822	3,892	2,166	1,993	3,561	1,612	2,192	1,701	1,301	1,652	2,354	1,352	3,007	4,402	4,478	4,304	3,024	1,865	4,937	6,465
Contingent value rights, current
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,654	7,599	1,717	1,717	-	-	0	0	1,623
Accrued expenses
16,302	13,770	9,306	12,121	15,315	11,946	9,004	11,720	14,056	12,207	8,871	14,224	15,703	17,432	17,743	12,319	25,279	20,590	21,042	14,766	20,530	17,335	22,422	15,887	21,203	21,129	25,388	22,888
Revolving credit facility
-	10,000	7,000	-	-	16,000	11,000	-	-	10,500	10,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital lease obligations, current
-	-	-	-	-	-	-	-	-	-	-	-	1,121	1,076	1,046	1,026	995	965	1,068	1,044	1,290	1,278	1,255	821	826	823	422	378
Current portion of long-term debt
6,776	6,651	6,294	5,958	7,098	7,084	7,060	7,350	6,475	5,600	4,725	3,850	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,280
Deferred revenue, current
96,468	61,286	71,354	86,913	87,250	55,715	66,926	83,318	84,313	54,306	61,582	74,107	71,505	61,788	37,791	44,250	53,532	51,023	35,114	38,614	45,974	45,237	31,814	32,216	38,984	38,686	28,007	34,140
Total current liabilities
121,890	93,782	95,795	107,380	112,780	93,197	96,146	104,560	107,666	86,505	87,844	94,174	91,890	81,908	58,772	59,296	81,107	74,230	59,578	63,430	78,400	69,969	61,686	53,228	64,037	62,503	58,754	66,774
Long-term liabilities:
Long-term debt
36,781	38,477	40,170	41,841	62,593	64,214	65,831	67,130	93,057	94,664	96,269	97,872	139,820	137,374	164,596	172,536	174,491	174,450	174,409	174,368	174,328	174,287	174,246	174,206	174,165	174,124	174,083	150,850
Deferred revenue, less current portion
17,751	15,232	13,064	13,995	15,109	11,579	10,944	11,395	13,353	11,339	10,220	11,481	12,690	9,409	8,393	6,687	7,829	8,138	6,962	5,067	5,631	4,441	4,698	3,991	4,304	4,793	3,574	3,416
Capital lease obligations, less current portion
-	-	-	-	-	-	-	-	-	-	-	-	96	943	1,488	1,755	2,019	2,278	2,534	2,781	3,014	3,243	3,603	11,903	12,294	12,378	12,092	12,317
Contingent value rights, less current portion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,128	5,074	6,737	6,684	5,896	5,896	5,746
Other liabilities
9,072	9,257	9,433	9,630	9,480	9,666	9,892	10,117	10,885	11,165	11,451	12,027	14,020	14,638	12,982	13,726	13,954	14,001	14,593	14,854	15,131	16,994	17,241	17,813	18,126	19,238	19,370	19,947
Total long-term liabilities
63,604	62,966	62,667	65,466	87,182	85,459	86,667	88,642	117,295	117,168	117,940	121,380	166,626	162,364	187,459	194,704	198,293	198,867	198,498	197,070	198,104	204,093	204,862	214,650	215,573	216,429	215,015	192,276
Commitments and contingencies (See Note 13)
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stockholders' equity (deficit):
Preferred stock ($.001 par value, 15,000 shares authorized, zero shares issued and outstanding at September 30, 2018 and December 31, 2017)
0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common stock ($.001 par value, 150,000 shares authorized, 53,832 and 53,333 shares issued, and 47,300 and 46,800 shares outstanding at September 30, 2018 and December 31, 2017, respectively)
54	54	54	53	53	53	53	53	53	52	52	52	52	52	51	51	51	51	51	51	51	51	51	51	51	51	44	44
Capital surplus
290,837	290,468	289,864	289,022	288,350	287,689	287,150	286,943	286,380	285,840	285,555	285,306	284,917	284,243	283,965	283,785	283,673	283,572	282,849	282,702	282,450	282,147	281,840	281,540	281,240	280,905	260,510	259,887
Accumulated deficit
-276,322	-282,199	-286,634	-288,490	-318,746	-325,223	-331,015	-333,545	-336,485	-340,313	-344,077	-343,975	-341,176	-342,650	-340,570	-339,282	-332,695	-326,961	-327,089	-327,520	-318,442	-229,635	-227,400	-204,923	-184,659	-138,104	-141,168	-135,218
Treasury stock at cost (6,532 shares at September 30, 2018 and December 31, 2017)
12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,784	12,448	12,448	12,147	7,772	7,772	7,772	7,528	6,228	5,440	4,931	4,931	4,931	4,931	0
Accumulated other comprehensive loss:
Pension and postretirement plans
1,986	2,022	2,057	2,093	1,860	1,883	1,906	1,929	2,656	2,694	2,731	2,768	3,748	3,916	2,029	2,050	2,072	2,486	2,516	2,546	2,576	1,606	1,615	1,623	1,632	702	702	702
Net unrealized gain on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	1	1	1	1	1	1
Accumulated other comprehensive loss
-1,986	-2,022	-2,057	-2,093	-1,860	-1,883	-1,906	-1,929	-2,656	-2,694	-2,731	-2,768	-3,748	-3,916	-2,029	-2,050	-2,072	-2,486	-2,516	-2,546	-2,576	-1,606	-1,614	-1,622	-1,631	-701	-701	-701
Total stockholders' equity (deficit)
-201	-6,483	-11,557	-14,292	-44,987	-52,148	-58,502	-61,262	-65,492	-69,899	-73,985	-74,169	-72,739	-75,055	-71,031	-69,944	-63,190	-53,596	-54,477	-55,085	-46,045	44,729	47,437	70,115	90,070	137,220	113,754	124,012
Total liabilities and stockholders' equity (deficit)
185,293	150,265	146,905	158,554	154,975	126,508	124,311	131,940	159,469	133,774	131,799	141,385	185,777	169,217	175,200	184,056	216,210	219,501	203,599	205,415	230,459	318,791	313,985	337,993	369,680	416,152	387,523	383,062