Perdoceo education corp (CECO)
Balance Sheet / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09
ASSETS
CURRENT ASSETS:
Cash and cash equivalents, unrestricted

37,932

108,687

47,411

51,104

38,799

32,394

32,029

33,175

24,198

18,110

16,276

38,898

13,268

49,507

55,659

49,663

47,536

66,919

68,940

63,266

69,244

93,832

126,926

138,608

264,188

318,468

30,924

165,921

223,816

112,884

242,828

209,312

229,388

280,592

289,101

228,821

239,261

260,644

283,515

150,326

215,944

284,334

Restricted cash

4,000

-

30,000

337

337

337

337

789

789

789

789

1,375

1,375

1,375

1,375

1,375

11,735

49,821

13,688

13,438

13,938

22,938

13,238

11,929

12,948

12,564

12,564

11,966

11,408

97,878

-

-

-

0

-

-

-

-

-

-

-

-

Total cash, cash equivalents and restricted cash

41,932

108,687

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted short-term investments

-

-

-

-

-

-

4,320

4,570

4,570

5,070

7,070

7,097

8,597

8,597

9,597

9,610

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term investments

243,651

185,488

234,415

228,795

200,768

196,428

156,336

151,571

158,038

156,178

151,803

124,702

143,323

147,681

151,153

140,812

122,859

114,901

116,790

120,026

123,183

122,858

110,734

124,080

38,326

31,592

52,210

63,947

63,951

63,876

130,495

160,616

160,469

160,607

159,971

159,939

159,831

159,671

158,988

162,361

206,225

200,379

Total cash and cash equivalents, restricted cash and short-term investments

285,583

294,175

311,826

280,236

239,904

229,159

193,022

190,105

187,595

180,147

175,938

172,072

166,563

207,160

217,784

201,460

182,130

231,641

199,418

196,730

206,365

239,628

250,898

274,617

315,462

362,624

95,698

241,834

299,175

274,638

373,323

369,928

389,857

441,199

449,072

388,760

399,092

420,315

442,503

312,687

422,169

484,713

Student receivables, gross

66,638

84,874

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for credit losses

34,065

29,856

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Student receivables, net

32,573

55,018

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Student receivables, net of allowance for doubtful accounts of $29,856 and $23,307 as of December 31, 2019 and 2018, respectively

-

-

29,913

27,870

29,840

28,751

34,043

24,992

23,915

18,875

21,134

21,389

23,473

22,825

25,457

27,502

27,746

31,618

27,696

25,872

26,382

31,401

32,463

31,283

31,582

27,995

41,694

53,518

50,420

54,194

65,021

55,582

61,989

59,960

57,471

57,968

64,147

62,091

64,366

74,796

58,080

57,795

Student receivables held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,019

-

-

-

-

-

-

-

-

-

-

-

Receivables, other

1,576

1,381

1,336

2,677

2,581

2,567

2,445

1,948

1,335

1,163

996

1,163

1,198

929

876

781

4,375

5,194

4,415

4,472

18,938

19,401

18,516

9,741

18,331

27,198

39,845

40,453

4,413

2,084

1,672

2,086

19,689

2,896

3,598

3,214

3,352

1,861

5,514

7,219

4,166

5,255

Prepaid expenses

10,389

7,299

7,645

9,013

8,381

7,771

8,515

10,957

10,182

7,722

8,769

13,335

11,989

14,446

12,695

16,160

14,167

14,380

13,360

17,513

14,310

17,453

20,297

25,294

20,328

16,723

112,836

96,436

57,710

38,225

75,183

73,242

69,199

62,176

36,130

36,634

34,768

51,380

43,561

43,879

47,259

40,748

Inventories

553

576

665

660

727

763

894

914

1,013

1,112

991

877

1,445

1,868

1,829

2,107

2,505

3,353

2,353

2,668

3,066

5,022

5,192

6,040

6,329

4,593

7,146

7,690

7,500

8,361

9,157

10,003

9,830

11,334

10,691

11,085

11,502

13,142

11,078

12,468

11,320

11,259

Deferred income tax assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,606

3,606

3,606

3,606

-

7,129

7,125

7,088

10,940

10,940

10,940

10,837

31,665

31,665

31,665

31,665

12,983

12,982

12,983

12,774

Other current assets

1,619

1,936

1,640

364

628

437

1,122

1,607

833

1,319

1,112

791

1,028

817

954

1,537

2,331

2,523

1,565

1,852

1,983

4,729

4,719

3,884

4,492

3,059

5,885

7,245

6,845

4,393

5,214

6,179

16,205

17,871

21,524

24,665

21,905

6,089

7,810

5,902

6,667

8,790

Assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

29,239

66,541

76,211

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets of discontinued operations

-

-

-

120

120

-

66

171

513

382

171

100

97

148

176

159

225

254

347

280

255

473

604

573

523

14,219

254,097

3,705

3,716

154,578

3,441

3,282

3,267

4,205

4,929

4,886

4,865

39,982

5,297

5,208

5,128

7,501

Total current assets

332,293

360,385

353,025

320,940

282,181

269,448

240,107

230,694

225,386

210,720

209,111

209,727

205,793

248,193

259,771

249,706

233,479

288,963

278,393

315,928

347,510

318,107

336,295

355,038

400,653

460,017

557,201

458,010

436,904

543,561

544,970

531,242

580,976

610,478

615,080

558,877

571,296

626,525

593,112

475,141

567,772

628,835

NON-CURRENT ASSETS:
Property and equipment, net of accumulated depreciation of $95,588 and $92,933 as of March 31, 2020 and December 31, 2019, respectively

28,349

26,006

26,698

27,507

28,397

30,048

29,977

30,829

32,027

33,230

33,278

35,434

37,465

40,512

45,213

48,574

52,596

58,249

54,680

57,946

65,076

115,604

138,248

159,090

170,573

112,095

202,125

246,008

259,121

247,788

317,484

327,260

341,815

349,719

360,802

364,757

359,678

363,516

335,836

309,902

303,684

304,028

Right of use asset, net

51,088

50,366

52,016

40,049

43,389

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

118,777

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

87,356

132,389

131,725

87,356

131,862

130,885

213,862

212,626

381,319

385,325

384,397

374,587

383,821

378,732

374,925

377,515

Intangible assets, net of amortization of $1,400 as of both March 31, 2020 and December 31, 2019

18,300

7,900

7,900

7,900

7,900

7,900

7,900

7,900

7,900

7,900

7,900

8,100

8,300

8,500

8,700

8,900

9,100

9,300

7,900

7,900

8,064

28,219

29,062

32,253

39,850

12,817

40,387

56,895

61,127

56,006

74,032

74,633

76,671

76,286

108,664

112,731

118,499

110,222

182,351

179,821

177,828

180,520

Student receivables, gross

3,172

3,352

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for credit losses

2,030

2,108

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Student receivables, net

1,142

1,244

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Student receivables, net of allowance for doubtful accounts of $2,108 and $1,529 as of December 31, 2019 and 2018, respectively

-

-

1,100

500

975

900

2,230

2,334

2,784

2,548

2,622

2,780

2,873

3,055

3,128

3,333

3,686

3,958

2,874

2,887

3,011

3,916

4,235

4,494

4,758

3,276

5,552

6,029

6,652

6,823

8,016

8,322

8,677

9,311

10,459

11,374

9,667

12,522

14,426

19,861

20,485

21,455

Deferred income tax assets, net

50,701

60,169

65,363

72,415

74,850

81,628

86,910

91,443

94,380

98,084

147,990

149,528

154,480

158,272

130,343

130,188

137,716

137,716

-

-

-

-

10,644

10,644

10,644

10,644

47,932

47,936

48,128

47,349

9,452

9,525

9,524

2,673

4,960

4,770

4,208

6,793

3,984

4,207

3,799

3,187

Other assets

5,876

5,720

5,140

4,951

4,930

4,993

5,277

6,649

5,918

5,673

7,018

7,563

7,414

7,608

8,328

16,043

17,552

16,562

16,901

17,506

17,703

19,357

17,167

17,426

26,258

17,132

25,916

28,149

32,324

30,276

42,293

40,242

30,694

30,122

32,269

31,999

32,479

38,923

36,099

23,564

23,203

23,178

Assets of discontinued operations

-

-

178

178

178

178

1,596

1,585

1,585

1,585

5,922

5,987

6,048

6,105

8,634

8,694

8,751

8,811

780

853

914

975

1,029

1,179

1,406

101,708

18,714

18,772

18,643

103,544

16,920

16,981

17,041

24,905

18,783

18,843

18,975

39,872

23,491

23,556

23,653

25,124

TOTAL ASSETS

606,526

599,146

598,807

561,799

530,156

482,493

461,353

458,790

457,336

447,096

501,197

506,475

509,729

559,601

551,473

552,794

550,236

610,915

448,884

490,376

529,634

573,534

624,036

667,480

741,498

805,045

985,183

994,188

994,624

1,122,703

1,145,029

1,139,090

1,279,260

1,316,120

1,532,336

1,488,676

1,499,199

1,572,960

1,573,120

1,414,784

1,495,349

1,563,842

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Lease liability-operating

12,419

11,784

12,109

13,390

14,595

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Short-term borrowings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38,000

-

-

-

10,000

-

-

-

-

-

-

-

80,000

-

-

-

-

-

-

-

-

-

-

-

-

Short-term borrowings and current maturities of capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

103

-

306

399

414

844

851

878

862

783

784

739

769

880

Accounts payable

9,624

11,533

11,044

12,382

13,072

9,195

12,646

11,297

11,694

8,515

11,780

10,414

13,270

10,099

16,000

13,831

18,579

25,906

28,293

17,636

28,677

23,808

29,660

25,498

29,640

22,826

33,723

31,863

42,601

32,070

53,237

38,380

34,174

48,362

47,571

47,395

41,469

53,115

47,613

48,732

42,203

51,100

Accrued expenses:
Payroll and related benefits

12,532

27,616

25,019

22,270

17,449

24,530

23,953

22,895

20,345

32,910

31,646

31,485

28,628

41,203

33,075

32,120

30,139

38,789

31,208

31,754

23,877

30,481

34,035

32,201

31,198

33,997

37,285

46,414

46,124

38,772

39,359

41,520

40,883

41,853

41,292

45,315

47,665

72,657

62,571

59,076

53,433

87,763

Advertising and marketing costs

11,478

10,479

11,896

11,142

11,633

9,300

11,733

9,945

13,069

9,245

10,732

10,196

13,949

10,253

17,041

10,325

14,308

11,788

-

-

-

15,379

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Advertising and production costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,026

12,735

21,757

-

25,472

17,001

22,297

17,166

25,733

22,630

20,634

20,963

20,993

23,680

27,441

17,717

20,859

22,868

27,855

18,846

25,186

24,839

25,254

21,436

Income taxes

1,489

1,376

1,675

1,135

1,298

1,472

2,062

1,762

1,730

2,185

1,898

2,098

2,313

1,830

1,730

1,600

5,146

1,061

1,717

1,545

1,579

1,633

1,506

2,221

603

14,994

-

-

-

-

-

-

-

-

11,541

9,132

17,254

-

1,206

12,927

47,090

17,849

Earnout payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,887

-

9,600

14,047

17,643

17,439

17,061

21,591

17,109

18,009

Other

15,745

16,378

46,610

39,496

10,277

19,668

16,222

33,834

32,671

31,233

35,127

32,923

36,665

69,244

25,599

24,701

21,966

24,082

22,295

17,884

19,359

28,857

26,722

28,205

51,039

37,985

61,383

83,483

41,171

34,999

48,542

50,557

55,742

67,077

53,191

48,104

52,563

96,664

92,391

47,201

60,281

45,923

Deferred revenue

29,002

24,647

23,784

28,664

24,289

32,351

22,988

23,050

30,278

22,897

22,401

27,230

20,932

28,364

30,342

37,398

35,077

40,112

31,004

37,105

34,036

54,573

60,241

62,219

55,251

44,769

69,051

80,945

83,718

69,675

135,483

104,557

122,496

144,696

215,367

159,765

171,205

152,590

210,618

137,691

167,677

184,336

Liabilities held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

45,187

44,999

51,036

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax liabilities, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,752

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities of discontinued operations

-

-

3

3

8

536

2,013

3,125

4,301

5,701

6,434

6,667

7,398

8,219

7,004

9,376

9,784

13,067

12,355

13,343

13,073

15,506

16,014

16,995

15,418

35,695

95,975

13,522

12,306

76,236

12,843

11,072

8,250

8,894

13,434

14,010

14,908

44,990

19,371

14,903

14,677

14,713

Total current liabilities

92,289

103,813

132,140

128,482

92,621

97,052

91,617

105,908

114,088

112,686

120,018

121,013

123,155

169,212

130,791

129,351

134,999

192,805

187,085

177,001

193,394

180,237

193,650

184,340

205,446

207,432

355,902

278,857

246,657

352,715

310,763

270,165

293,287

329,443

413,706

361,514

391,424

457,084

476,801

367,699

428,493

442,009

NON-CURRENT LIABILITIES:
Lease liability-operating

51,699

52,391

54,904

42,215

47,328

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital lease obligations, net of current maturities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

207

315

464

561

1,223

1,336

1,348

1,523

2,262

Deferred rent obligations

-

-

-

-

-

12,745

14,205

14,827

14,522

15,277

16,253

23,879

27,067

30,713

35,664

39,152

43,244

45,927

34,999

39,883

42,641

67,433

70,578

72,259

78,104

54,236

85,805

91,415

93,260

93,611

97,766

99,498

101,139

102,034

103,751

105,627

104,224

103,872

105,011

91,036

91,439

90,676

Earnout payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,251

7,690

11,898

11,641

20,198

23,680

Other liabilities

17,395

11,647

9,819

9,854

9,885

17,493

15,884

15,138

15,755

22,143

23,384

23,421

27,535

31,751

24,133

23,192

22,508

25,197

19,760

20,040

16,662

21,072

25,695

25,177

27,593

24,797

29,794

29,331

30,057

28,648

35,894

36,847

39,947

40,365

38,653

39,706

40,570

30,047

13,140

15,251

16,389

18,612

Liabilities of discontinued operations

-

-

-

-

-

-

-

-

-

785

2,156

3,214

4,907

6,422

5,862

6,940

8,075

9,376

12,597

14,984

18,991

22,859

28,429

33,077

32,225

63,196

22,555

24,844

28,178

35,939

28,842

30,143

35,597

37,980

28,952

30,317

32,839

38,507

43,464

50,538

53,667

64,558

Total non-current liabilities

69,094

64,038

64,723

52,069

57,213

30,238

30,089

29,965

30,277

38,205

41,793

50,514

59,509

68,886

65,659

69,284

73,827

80,500

67,356

74,907

78,294

111,364

124,702

130,513

137,922

142,229

138,154

145,590

151,495

158,198

162,502

166,488

176,790

180,586

171,671

176,114

181,445

181,339

174,849

169,814

183,216

199,788

STOCKHOLDERS' EQUITY:
SHARE-BASED AWARDS SUBJECT TO REDEMPTION

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

99

104

105

-

111

119

137

153

160

164

213

521

Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued or outstanding

-

-

-

-

-

-

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

0

0

0

0

0

0

Common stock, $0.01 par value; 300,000,000 shares authorized; 86,209,338 and 85,953,253 shares issued, 69,061,469 and 70,151,357 shares outstanding as of March 31, 2020 and December 31, 2019, respectively

862

860

859

857

857

852

852

851

850

843

843

842

839

835

835

834

833

830

829

828

826

823

821

821

820

819

819

818

818

816

816

817

818

820

824

824

821

812

964

964

964

954

Additional paid-in capital

642,958

639,335

633,536

630,878

629,768

628,295

626,751

624,869

623,378

621,008

619,483

618,105

614,571

613,325

613,611

612,449

611,472

610,784

610,063

608,935

607,643

606,531

604,789

603,656

602,440

600,904

602,735

600,796

598,903

596,826

599,534

597,586

594,223

590,965

592,929

588,676

582,497

576,853

262,040

256,928

250,923

662,865

Accumulated other comprehensive (loss) income

-543

344

386

455

49

-298

-271

-356

-296

-164

144

39

-194

-258

87

-330

-364

-880

-620

-701

-658

-853

-746

-638

-531

-503

2,798

-3,712

-6,527

-4,785

-9,015

-9,552

292

-5,136

-310

11,457

8,247

-81

2,356

-10,734

492

8,408

Retained earnings

47,177

18,071

-9,445

-27,679

-27,120

-52,946

-67,017

-81,874

-90,625

-108,127

-63,745

-66,767

-71,053

-76,230

-43,354

-42,668

-54,507

-57,518

-200,242

-155,007

-134,284

-109,403

-84,017

-36,049

10,515

68,658

99,264

186,328

217,718

232,921

294,315

327,456

427,688

375,717

496,055

485,413

430,042

356,991

1,035,090

1,008,955

944,588

471,184

Treasury stock, at cost; 17,147,869 and 15,801,896 shares as of March 31, 2020 and December 31, 2019, respectively

245,311

227,315

223,392

223,263

223,232

220,700

220,668

220,573

220,336

217,355

217,339

217,271

217,098

216,169

216,156

216,126

216,024

215,606

215,587

215,587

215,581

215,165

215,163

215,163

215,114

214,494

214,489

214,489

214,440

213,988

213,985

213,974

213,943

156,275

142,650

135,441

95,414

191

379,140

379,006

313,540

221,887

Total stockholders' equity

445,143

431,295

401,944

381,248

380,322

355,203

339,647

322,917

312,971

296,205

339,386

334,948

327,065

321,503

355,023

354,159

341,410

337,610

194,443

238,468

257,946

281,933

305,684

352,627

398,130

455,384

491,127

569,741

596,472

611,790

671,665

702,333

809,078

806,091

946,848

950,929

926,193

934,384

921,310

877,107

883,427

921,524

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

606,526

599,146

598,807

561,799

530,156

482,493

461,353

458,790

457,336

447,096

501,197

506,475

509,729

559,601

551,473

552,794

550,236

610,915

448,884

490,376

529,634

573,534

624,036

667,480

741,498

805,045

985,183

994,188

994,624

1,122,703

1,145,029

1,139,090

1,279,260

1,316,120

1,532,336

1,488,676

1,499,199

1,572,960

1,573,120

1,414,784

1,495,349

1,563,842