Houghton Mifflin Harcourt Co HMHC Balance Sheet

Houghton mifflin harcourt co (HMHC)

Balance Sheet / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	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	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13
Assets
Current assets
Cash and cash equivalents
254	296	308	15	74	253	104	30	98	148	133	78	149	226	150	98	168	234	377	319	562	456	296	139	167	313
Short-term investments
-	-	-	-	9	49	29	-	-	86	76	-	14	80	66	-	67	198	146	-	-	286	291	53	100	111
Accounts receivable, net of allowances for bad debts and book returns of $17.6 million and $19.7 million, respectively
139	184	434	432	183	203	353	293	164	192	382	304	167	216	438	347	183	256	478	424	196	255	528	568	260	318
Inventories
265	213	211	267	261	184	170	212	206	150	156	197	209	162	169	218	222	171	185	229	213	183	190	222	208	182
Deferred income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	14	-	-	19	29	29	29
Prepaid expenses and other assets
22	19	18	22	20	15	25	30	27	29	21	26	23	20	25	30	25	22	29	29	21	18	14	16	17	16
Assets of discontinued operations
-	-	-	-	-	-	125	-	-	123	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
682	713	974	737	550	706	807	567	496	732	770	607	563	705	850	694	667	882	1,234	1,018	993	1,201	1,341	1,029	783	971
Property, plant, and equipment, net
101	100	104	108	116	125	143	149	150	148	153	157	169	175	179	175	160	149	134	133	133	138	137	140	135	140
Pre-publication costs, net
256	268	290	311	321	323	325	341	335	313	314	317	318	314	320	324	323	321	326	326	232	236	249	261	267	269
Royalty advances to authors, net
41	44	48	49	47	47	50	49	47	46	50	48	46	43	46	47	44	44	45	47	47	46	49	51	51	46
Goodwill
454	716	716	716	716	716	713	783	783	716	783	783	783	783	783	783	783	783	783	783	532	532	532	532	531	531
Other intangible assets, net
462	474	486	499	511	520	535	578	593	582	626	645	664	685	848	868	888	912	939	966	775	801	830	858	886	919
Operating lease assets
135	132	135	138	144	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
2	2	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	3	-	-	-	-
Deferred commissions
28	29	33	22	21	22	23	22	23	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
29	31	31	28	27	28	28	28	23	19	18	21	19	19	20	24	22	23	37	32	23	28	36	26	26	29
Total assets
2,195	2,513	2,824	2,616	2,461	2,495	2,631	2,524	2,458	2,563	2,719	2,583	2,568	2,731	3,052	2,922	2,894	3,121	3,505	3,312	2,742	2,990	3,177	2,901	2,682	2,910
Liabilities and Stockholders’ Equity
Current liabilities
Revolving credit facility
150	-	-	60	-	-	-	50	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current portion of long-term debt
19	19	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	8	2	67	2	2	2	2
Accounts payable
73	52	88	108	115	76	87	94	120	60	95	91	99	76	86	124	101	94	80	78	76	51	100	109	67	105
Royalties payable
40	72	68	59	42	66	65	67	53	66	68	69	53	72	83	85	60	85	96	92	55	80	85	79	50	65
Salaries, wages, and commissions payable
14	54	69	41	17	50	50	39	14	52	56	43	19	41	39	33	27	45	65	36	17	59	61	29	18	29
Deferred revenue
274	305	314	263	234	251	276	240	225	265	285	242	251	272	277	209	211	231	234	180	154	157	162	134	105	107
Interest payable
3	3	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Severance and other charges
7	12	1	2	1	6	6	6	7	6	9	15	5	8	7	5	4	4	5	4	5	5	5	5	7	8
Accrued postretirement benefits
1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	2	2	2	2	2	2	2	2
Operating lease liabilities
9	8	11	12	14	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other liabilities
27	24	34	25	22	26	28	30	23	19	31	38	25	23	31	38	38	34	37	39	37	27	37	34	28	32
Liabilities of discontinued operations
-	-	-	-	-	-	22	-	-	24	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities
620	555	596	583	456	487	547	539	455	506	557	512	464	505	536	507	453	506	530	443	352	450	458	397	282	353
Long-term debt, net of discount and issuance costs
634	638	752	753	754	755	756	757	759	760	761	762	763	764	765	767	768	769	786	788	176	175	241	241	242	243
Operating lease liabilities
137	134	137	140	142	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Royalties payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1
Long-term deferred revenue
514	542	574	444	373	395	412	400	401	418	440	431	420	436	464	444	421	440	459	407	357	370	379	267	182	189
Accrued pension benefits
23	23	27	28	29	29	23	23	23	24	26	27	28	28	20	21	22	23	16	17	17	18	16	19	21	24
Accrued postretirement benefits
14	15	13	13	13	14	18	19	19	20	20	20	21	22	22	22	23	23	24	25	25	26	21	22	23	23
Deferred income taxes
21	30	29	32	32	27	24	28	26	22	80	90	85	71	153	169	173	139	151	113	106	91	109	118	117	116
Other liabilities
5	6	6	6	5	17	22	21	19	16	19	20	22	22	27	27	25	19	22	93	95	97	102	105	106	107
Total liabilities
1,971	1,946	2,138	2,002	1,808	1,726	1,806	1,790	1,705	1,768	1,906	1,865	1,804	1,851	1,989	1,960	1,888	1,923	1,990	1,888	1,132	1,230	1,329	1,173	976	1,060
Commitments and contingencies (Note 13)
-	-	-	-	-	-	0	0	0	-	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stockholders’ equity
Preferred stock, $0.01 par value: 20,000,000 shares authorized; no shares issued and outstanding at March 31, 2020 and December 31, 2019
-	-	-	-	-	-	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: 380,000,000 shares authorized; 149,983,155 and 148,928,328 shares issued at March 31, 2020 and December 31, 2019, respectively; 125,406,121 and 124,351,294 shares outstanding at March 31, 2020 and December 31, 2019, respectively
1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Treasury stock, 24,577,034 shares as of March 31, 2020 and December 31, 2019, respectively, at cost
518	518	518	518	518	518	518	518	518	518	518	518	518	518	518	514	494	463	239	191	0	-	0	0	0	0
Capital in excess of par value
4,910	4,906	4,903	4,898	4,895	4,893	4,889	4,885	4,882	4,879	4,877	4,873	4,870	4,868	4,865	4,850	4,843	4,833	4,822	4,809	4,796	4,784	4,774	4,760	4,752	4,750
Accumulated deficit
-4,121	-3,775	-3,650	-3,720	-3,679	-3,562	-3,507	-3,593	-3,570	-3,521	-3,495	-3,585	-3,538	-3,418	-3,237	-3,327	-3,298	-3,133	-3,036	-3,167	-3,159	-2,999	-2,916	-3,023	-3,034	-2,888
Accumulated other comprehensive loss
-47	-47	-49	-48	-46	-45	-40	-41	-42	-46	-51	-52	-51	-53	-49	-48	-45	-39	-33	-27	-27	-26	-11	-10	-13	-13
Total stockholders’ equity
223	566	686	613	652	768	825	734	752	795	813	718	763	880	1,062	961	1,006	1,198	1,514	1,424	1,610	1,759	1,848	1,727	1,706	1,850
Total liabilities and stockholders’ equity
2,195	2,513	2,824	2,616	2,461	2,495	2,631	2,524	2,458	2,563	2,719	2,583	2,568	2,731	3,052	2,922	2,894	3,121	3,505	3,312	2,742	2,990	3,177	2,901	2,682	2,910