Grand canyon education, inc. (LOPE)
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'10
ASSETS:
Current assets
Cash and cash equivalents

132,493

122,272

119,709

65,801

88,467

120,346

44,879

221,632

242,846

153,474

180,142

66,282

88,541

45,976

75,143

44,554

48,793

23,036

78,177

50,710

86,156

65,238

56,482

20,214

39,129

55,824

106,816

90,801

127,739

105,111

69,644

50,760

56,700

21,189

18,999

14,652

30,243

33,637

Restricted cash and cash equivalents

-

300

300

300

300

61,667

61,667

-

72,816

94,534

75,604

79,440

70,342

84,931

69,328

70,840

62,481

75,384

64,737

63,696

57,875

67,840

58,801

53,233

50,834

64,368

49,800

51,541

49,680

55,964

57,027

54,482

50,454

56,115

47,177

45,390

49,740

52,178

Investments

17,049

21,601

14,152

14,205

14,243

69,002

68,754

76,522

91,910

89,271

89,609

89,414

81,557

62,596

49,654

49,440

84,128

83,364

84,016

83,533

101,015

100,784

127,126

156,492

157,466

108,420

63,492

48,439

23,802

0

-

-

-

-

-

-

-

-

Assets held for sale

-

-

-

-

-

-

-

974,353

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, net

77,390

48,939

83,377

13,660

74,653

46,830

65,120

-

9,469

10,908

12,243

10,933

9,026

9,538

10,362

9,080

7,454

8,298

9,500

8,158

6,689

7,605

8,289

8,515

7,384

7,217

7,986

8,645

7,651

7,951

8,875

8,363

7,843

11,815

16,333

13,078

13,972

17,983

Interest receivable on Secured Note

5,011

5,011

5,192

-

4,785

4,650

4,381

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Note receivable secured by real estate

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

27,000

-

-

-

-

-

-

-

-

Income tax receivable

1,685

2,186

3,559

3,423

3,423

8

1,791

315

1,329

2,086

4,546

4,546

4,829

4,686

5,923

8,492

3,215

3,952

-

-

-

1

22

-

-

3,599

13

2,533

-

0

283

0

936

11,861

8,383

5,796

2,213

8,415

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,651

6,441

6,106

6,149

4,940

5,472

5,247

5,159

6,444

7,099

5,279

5,481

5,216

3,349

2,376

3,353

6,788

13,911

16,563

16,078

Other current assets

14,696

8,035

11,255

11,328

12,337

6,963

8,607

8,748

16,994

24,589

24,702

22,156

23,627

22,341

21,713

17,806

20,026

20,863

21,152

18,539

20,240

19,428

19,511

17,208

17,879

19,116

17,913

14,539

13,847

12,667

13,302

12,275

11,990

11,081

9,104

5,619

4,578

4,834

Total current assets

248,324

208,344

237,544

108,717

198,208

309,466

255,199

1,281,570

435,364

374,862

386,846

272,771

277,922

230,068

232,123

200,212

226,097

214,897

263,233

231,077

278,081

267,045

275,171

261,134

277,939

263,703

252,464

223,597

227,998

214,174

154,347

129,229

130,299

115,414

106,784

98,446

117,309

133,125

Property and equipment, net

121,349

119,734

118,637

116,772

116,239

111,039

110,908

112,185

950,156

922,284

897,540

888,184

870,289

855,528

832,665

794,037

725,091

667,483

639,631

588,275

527,729

478,170

469,294

416,242

365,499

339,596

328,423

304,327

283,584

269,162

256,528

233,273

207,169

189,947

179,545

161,532

140,655

123,999

Right-of-use assets

34,545

27,770

27,730

12,895

13,186

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Secured Note receivable, net

964,912

969,912

1,009,912

1,069,912

929,998

900,093

882,900

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortizable intangible assets, net

199,952

202,057

204,236

206,415

208,594

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

225

225

375

375

555

555

555

555

445

760

Prepaid royalties

-

-

-

-

-

-

-

2,615

2,689

2,763

2,837

2,911

2,985

3,059

3,133

3,207

3,281

3,355

3,429

3,503

3,577

3,650

3,725

3,799

3,873

4,641

4,806

4,970

5,135

5,299

5,464

5,628

5,793

5,958

6,122

6,287

6,396

6,579

Goodwill

160,766

160,766

160,871

160,871

151,228

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

2,941

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,912

3,564

2,487

2,800

Other assets

1,754

1,706

1,742

1,940

2,020

478

743

657

833

723

766

1,756

1,123

897

1,404

4,556

3,293

3,306

3,377

3,145

3,242

3,907

4,367

4,428

5,000

5,219

5,441

5,831

4,011

3,122

3,434

3,652

3,212

3,032

5,201

5,257

5,254

4,892

Total assets

1,731,602

1,690,289

1,760,672

1,677,522

1,619,473

1,324,017

1,252,691

1,399,968

1,391,983

1,303,573

1,290,930

1,168,563

1,155,260

1,092,493

1,072,266

1,004,953

960,703

891,982

912,611

828,941

815,570

755,713

755,498

688,544

655,252

616,100

594,075

541,666

523,894

494,923

423,089

375,098

349,969

317,847

303,060

278,582

275,487

275,096

LIABILITIES AND STOCKHOLDERS' EQUITY:
Current liabilities
Accounts payable

19,222

14,835

20,742

18,273

13,295

14,274

16,996

35,444

36,100

29,139

27,523

22,489

24,114

24,824

28,851

39,284

38,019

34,149

41,482

36,410

34,316

22,715

32,925

33,290

27,967

24,231

22,934

16,326

20,353

14,174

25,197

19,784

24,660

18,523

22,277

27,480

27,072

15,693

Accrued compensation and benefits

22,602

20,800

23,689

17,318

17,985

15,427

17,857

23,634

25,013

23,173

24,377

19,913

20,670

19,697

22,653

26,819

21,648

17,895

21,580

23,101

18,216

23,995

18,893

21,059

14,947

20,093

16,163

18,107

13,163

18,812

13,968

15,174

9,372

12,229

9,768

11,541

15,144

13,633

Accrued liabilities

20,943

16,771

18,947

16,934

15,543

8,907

13,511

18,995

26,571

20,757

23,184

20,641

23,704

21,283

20,707

16,895

17,424

13,846

14,819

14,883

14,804

13,533

14,084

15,604

13,235

14,554

16,542

20,599

17,585

17,467

15,638

14,672

8,515

8,456

9,134

8,467

7,453

10,416

Accrued litigation loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,200

5,200

Accrued exit costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

40

-

Income taxes payable

25,249

6,576

3,396

45

23,500

5,442

-

46

30,234

16,182

10,750

3,636

19,531

2,734

19

50

17,913

29

612

220

15,544

4,906

7,799

6,163

5,037

7

989

-

9,215

8,704

11,282

7,636

6,091

536

1,068

425

1,223

829

Deferred revenue

8,173

20

9,201

10,042

-

-

-

-

-

95,298

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Liabilities held for sale

-

-

-

-

-

-

-

139,140

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Student deposits

-

-

-

-

-

-

-

-

72,948

-

76,111

79,520

70,716

85,881

70,168

70,865

63,137

76,742

65,978

64,895

58,949

69,584

60,472

54,867

54,211

66,772

52,077

52,721

51,277

57,745

58,930

55,248

51,903

57,602

48,483

46,700

46,127

48,873

Deferred revenue

-

-

-

-

5,168

-

-

-

64,130

46,895

116,438

52,004

69,759

40,739

104,694

47,220

57,575

37,876

86,712

42,409

53,407

36,868

76,908

41,686

46,700

32,816

58,503

31,585

38,963

28,614

46,679

31,106

33,479

21,723

34,746

21,867

19,218

15,034

Current portion of lease liability

3,751

3,084

2,709

2,232

2,089

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Due to related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

183

183

189

675

382

401

420

403

471

500

516

454

494

457

429

523

328

319

279

227

464

1,573

1,958

9,471

Current portion of capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

160

160

160

697

495

518

92

91

91

90

90

89

89

88

88

87

87

86

96

470

892

1,229

1,638

1,673

Current portion of notes payable

33,144

33,144

45,332

48,422

48,422

36,468

6,572

6,572

6,670

6,691

6,680

6,665

6,651

31,636

18,633

31,630

6,628

6,625

6,723

6,620

6,618

6,616

6,613

6,611

6,609

6,607

6,605

6,603

6,601

6,601

1,760

1,769

1,739

1,739

1,760

1,841

1,957

2,026

Total current liabilities

133,084

95,230

124,016

113,266

126,002

80,518

54,936

223,831

261,666

238,135

285,063

204,868

235,145

226,794

266,068

233,106

222,693

188,534

238,783

189,457

202,366

178,711

218,256

179,870

169,312

165,623

174,396

146,486

157,674

152,727

173,869

145,794

136,134

121,505

128,592

121,123

127,030

122,848

Deferred income taxes, noncurrent

18,840

18,320

18,310

17,752

9,427

6,465

4,421

19,218

19,900

18,362

27,209

26,778

27,043

23,708

17,321

17,522

17,764

14,855

14,590

15,469

17,166

15,974

11,716

11,596

13,179

11,832

10,412

9,713

8,601

7,045

5,113

3,187

4,126

5,334

-

-

-

0

Capital lease obligations, less current portion

-

-

-

-

-

-

-

-

-

-

-

-

-

-

300

340

381

788

153

170

383

406

429

452

475

497

520

542

565

587

609

631

652

674

695

0

10

151

Other long-term liability

11

13

16

-

-

-

-

-

1,131

1,200

1,341

1,433

1,606

1,689

3,512

3,767

4,066

4,302

3,689

3,953

4,245

4,513

4,075

6,146

6,551

6,811

6,293

6,569

7,141

7,405

7,589

7,716

7,719

7,140

6,772

5,392

2,679

2,715

Lease liability, less current portion

32,171

25,519

25,440

10,809

11,177

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable, less current portion

99,488

107,774

211,060

207,888

199,994

23,437

54,976

56,619

58,274

59,925

61,596

63,270

64,943

66,616

68,276

69,935

71,594

73,252

75,759

76,565

78,221

79,877

81,532

83,187

84,840

86,493

88,137

89,806

91,449

93,100

18,681

19,124

19,468

19,901

20,329

20,769

21,432

21,881

Total liabilities

283,594

246,856

378,842

349,715

346,600

110,420

114,333

299,668

340,971

317,622

375,209

296,349

328,737

318,807

355,477

324,670

316,498

281,731

332,974

285,614

302,381

279,481

316,008

281,251

274,357

271,256

279,758

253,116

265,430

260,864

205,861

176,452

168,099

154,554

156,388

147,284

151,151

147,595

Commitments and contingencies

-

-

-

-

-

-

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

Stockholders' equity
Preferred stock, $0.01 par value, 10,000 shares authorized; 0 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

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, $0.01 par value, 100,000 shares authorized; 53,221 and 53,054 shares issued and 47,413 and 48,105 shares outstanding at March 31, 2020 and December 31, 2019, respectively

532

531

530

530

529

527

526

526

525

523

522

522

519

515

513

511

505

503

502

502

502

497

497

497

496

489

488

487

482

471

469

468

461

460

459

459

458

458

Treasury stock, at cost, 5,808 and 4,949 shares of common stock at March 31, 2020 and December 31, 2019, respectively

235,071

169,365

150,872

143,919

143,579

125,452

119,982

113,757

112,726

100,694

99,051

99,051

98,910

89,394

89,341

88,559

88,507

69,332

58,000

58,000

57,948

53,770

53,770

53,770

52,675

48,432

48,145

47,627

45,142

39,136

28,819

25,872

23,894

23,894

23,153

23,151

14,993

782

Additional paid-in capital

273,650

270,923

268,279

265,396

261,071

256,806

251,828

241,169

237,056

232,670

228,928

224,735

218,667

212,559

203,503

195,316

186,828

177,167

173,301

170,194

165,734

158,549

154,636

151,528

146,945

132,904

128,366

124,578

111,556

102,133

95,938

92,914

89,800

85,720

83,821

81,261

78,961

77,449

Accumulated other comprehensive loss

-

-

-782

-724

-560

-453

-652

-515

-526

-724

-598

-608

-522

-910

-823

-678

-688

-489

-454

-315

-269

-35

229

156

316

358

240

289

-191

-223

-265

-298

-333

-360

-498

-446

-392

-445

Retained earnings

1,408,897

1,341,344

1,264,675

1,206,524

1,155,412

1,082,169

1,006,638

972,877

926,683

854,176

785,920

746,616

706,769

650,916

602,937

573,693

546,067

502,402

464,288

430,946

405,170

370,991

337,898

308,882

285,813

259,525

233,368

210,823

191,759

170,814

149,905

131,434

115,836

101,367

86,043

73,175

60,302

50,821

Total stockholders' equity

1,448,008

1,443,433

1,381,830

1,327,807

1,272,873

1,213,597

1,138,358

1,100,300

1,051,012

985,951

915,721

872,214

826,523

773,686

716,789

680,283

644,205

610,251

579,637

543,327

513,189

476,232

439,490

407,293

380,895

344,844

314,317

288,550

258,464

234,059

217,228

198,646

181,870

163,293

146,672

131,298

124,336

127,501

Total liabilities and stockholders' equity

1,731,602

1,690,289

1,760,672

1,677,522

1,619,473

1,324,017

1,252,691

1,399,968

1,391,983

1,303,573

1,290,930

1,168,563

1,155,260

1,092,493

1,072,266

1,004,953

960,703

891,982

912,611

828,941

815,570

755,713

755,498

688,544

655,252

616,100

594,075

541,666

523,894

494,923

423,089

375,098

349,969

317,847

303,060

278,582

275,487

275,096