K12 Inc LRN Balance Sheet

K12 inc (LRN)

Balance Sheet / Quarterly

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	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11
ASSETS
Current assets
Cash and cash equivalents
150,034	211,641	165,944	283,121	234,025	203,275	143,049	231,113	227,907	189,502	147,342	230,864	194,708	182,146	135,088	213,989	199,508	171,277	150,864	195,852	142,850	124,234	109,196	196,109	185,332	162,889	163,474	181,480	156,968	143,192	107,938	144,652	123,653	133,872	133,472	193,099
Restricted cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,501	1,501	1,501	1,501	1,501
Accounts receivable, net of allowance of $4,981 and $11,766 at March 31, 2020 and June 30, 2019, respectively
284,326	251,624	267,690	191,639	238,614	239,702	283,806	176,319	207,998	244,124	282,785	192,205	225,784	218,743	264,191	169,554	222,884	229,589	260,755	188,246	275,795	266,760	285,038	194,676	236,445	254,350	271,808	186,459	234,550	223,312	258,832	160,922	205,307	197,096	214,388	96,235
Inventories, net
19,579	20,071	20,516	29,946	17,195	17,068	18,116	25,916	18,051	18,388	18,588	30,503	18,789	17,409	16,328	30,631	16,146	17,858	16,714	29,571	17,757	19,515	17,967	33,830	21,294	23,363	28,013	44,395	29,344	29,470	28,113	37,853	27,525	20,203	18,427	30,554
Deferred tax asset
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,406	4,661	3,005	8,989	4,677	3,969	2,231	7,732	6,165	18,571	21,478	11,368	9,799	12,363	14,673	16,140	4,969	8,050	7,799	7,175
Prepaid expenses
18,945	16,669	29,871	12,643	17,958	19,120	25,205	10,278	14,422	21,988	33,826	8,006	15,448	18,110	31,535	9,634	16,837	21,239	29,458	11,428	11,580	11,610	22,909	7,356	10,396	9,090	11,206	10,331	21,086	19,833	14,621	11,173	14,428	13,825	13,232	10,424
Other current assets
13,814	13,689	14,289	12,307	14,181	14,447	15,028	10,388	13,767	14,753	15,678	12,004	24,828	23,377	25,124	22,047	24,797	25,105	27,538	24,877	29,217	29,056	31,603	25,498	27,823	27,368	32,385	23,916	13,606	16,000	20,440	14,598	12,973	14,537	17,899	9,111
Total current assets
486,698	513,694	498,310	529,656	521,973	493,612	485,204	454,014	482,145	488,755	498,219	473,582	479,557	459,785	472,266	445,855	488,578	469,729	488,334	458,963	481,876	455,144	468,944	465,201	487,455	495,631	528,364	457,949	465,353	444,170	444,617	386,839	390,356	389,084	406,718	348,099
Operating lease right-of-use assets, net
106,900	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment, net
44,174	35,188	37,253	31,980	32,778	32,481	37,002	28,868	29,468	29,472	32,468	26,297	25,976	28,426	31,504	28,447	26,717	28,661	31,654	34,407	47,369	48,127	52,084	48,581	50,010	56,262	62,892	56,142	61,390	63,134	65,864	55,903	61,385	60,297	58,148	46,625
Capitalized software, net
48,304	49,259	50,232	51,165	51,693	52,997	54,163	55,488	55,729	57,904	60,839	62,695	64,231	66,728	69,237	70,055	67,710	66,360	65,741	62,683	59,591	56,884	53,964	49,920	46,660	42,738	44,782	43,504	42,288	39,639	37,674	34,709	29,496	27,302	24,408	24,386
Capitalized curriculum development costs, net
51,717	52,345	53,495	53,297	51,160	52,085	52,952	53,558	53,299	54,816	57,056	59,213	60,960	62,920	64,642	63,367	58,345	57,311	58,151	58,696	59,946	59,569	60,189	60,782	61,219	61,824	63,989	64,599	63,374	62,926	61,944	60,345	56,962	56,249	56,424	55,619
Intangible assets, net
43,893	13,495	14,238	14,981	15,723	16,466	17,209	17,951	18,694	19,449	19,509	20,226	20,948	21,665	22,382	23,102	19,347	19,964	20,580	21,195	21,831	22,464	23,098	23,708	24,783	25,436	31,332	32,139	33,288	34,437	35,587	36,736	37,912	38,993	37,435	38,291
Goodwill
197,800	90,200	90,200	90,200	90,200	90,197	90,197	90,197	90,197	90,197	87,214	87,214	87,285	87,285	87,285	87,285	66,160	66,160	66,160	66,160	67,241	67,241	67,270	58,088	61,581	61,571	61,523	61,413	61,400	61,501	61,428	61,619	62,404	62,404	66,668	55,627
Investment in Web International
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000
Deposits and other assets
56,487	72,772	69,772	48,330	45,486	45,865	48,075	41,887	31,592	8,063	7,134	6,057	6,459	10,679	13,649	15,944	7,049	6,806	6,791	6,495	5,849	5,853	5,668	5,387	5,547	5,425	5,415	3,150	2,825	2,902	2,384	2,684	3,219	3,297	2,515	3,448
Total assets
1,036,005	826,950	813,497	819,606	809,010	783,703	784,802	741,963	761,124	748,656	762,439	735,284	745,416	737,488	760,965	734,055	733,906	714,991	737,411	708,599	743,703	715,282	731,217	711,667	737,255	748,887	798,297	718,896	739,918	718,709	719,498	648,835	651,734	647,626	662,316	582,095
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable
25,235	30,598	46,204	50,488	23,208	20,460	39,062	29,362	17,548	17,162	34,010	30,052	16,105	18,378	31,196	25,919	15,745	16,760	42,308	29,819	20,032	16,633	41,641	30,976	24,614	16,538	50,617	21,838	19,976	20,121	33,393	23,951	17,276	20,249	31,850	21,176
Accrued liabilities
25,953	19,616	18,590	20,685	17,706	14,619	14,016	14,345	13,304	12,479	11,509	21,622	17,822	13,551	13,968	26,877	14,209	10,893	10,724	12,486	19,308	10,154	10,642	20,539	14,910	14,585	15,702	17,027	26,030	22,218	16,183	13,802	16,252	17,011	19,025	14,126
Accrued compensation and benefits
28,384	28,055	18,961	41,998	30,549	28,120	18,729	36,050	29,489	19,667	14,281	29,367	25,118	20,890	16,395	31,042	26,898	17,301	16,828	26,790	22,019	19,085	12,470	17,400	19,436	20,541	12,063	21,970	19,683	13,296	12,219	17,355	16,127	13,662	16,474	13,086
Deferred revenue
39,618	23,569	25,557	22,828	52,827	51,476	69,434	23,114	49,039	54,945	65,769	24,830	50,797	59,225	71,754	25,964	50,898	57,083	64,317	24,927	56,528	63,630	72,882	24,353	52,468	61,160	74,549	28,567	49,518	59,249	69,952	25,410	46,558	52,154	63,257	21,907
Credit facility
100,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current portion of finance lease liability
17,988	23,336	22,019	19,588	24,499	26,191	17,083	13,353	13,727	13,416	14,121	11,880	13,267	13,329	14,445	13,210	13,453	14,369	15,474	16,635	17,845	18,255	19,642	20,492	20,954	22,216	21,664	19,395	20,595	19,799	19,525	15,950	16,571	15,467	15,101	11,914
Current portion of operating lease liability
20,441	8,496	8,371	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Current portion of note payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	390	745	1,138	1,153	1,145	1,137	1,129	1,116	1,443
Total current liabilities
257,619	133,670	139,702	155,587	148,789	140,866	158,324	116,224	123,107	117,669	139,690	117,751	123,109	125,373	147,758	123,012	121,203	116,406	149,651	110,657	135,732	127,757	157,277	113,760	132,382	135,040	174,595	109,187	136,547	135,821	152,425	97,613	113,921	119,672	146,823	83,652
Long-term finance lease liability
5,265	2,146	3,495	5,060	6,698	8,560	20,609	12,665	13,983	13,931	15,167	10,025	11,955	11,953	13,307	9,922	9,660	10,059	11,830	13,022	14,449	14,109	15,664	16,447	16,651	19,430	18,981	16,107	20,477	20,619	21,231	15,124	17,541	16,569	15,710	8,552
Long-term operating lease liability
100,803	14,906	17,048	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred tax liability
1,252	16,789	20,357	16,670	18,211	18,114	17,878	12,577	11,572	16,023	23,772	16,726	22,356	25,178	29,521	18,458	27,654	27,529	26,741	22,456	23,571	24,218	24,489	22,478	28,690	33,584	39,575	33,299	37,185	34,764	32,525	31,591	15,283	15,283	11,818	9,604
Deferred rent, net of current portion
-	-	-	-	2,524	2,766	3,015	3,270	3,511	3,745	3,939	4,157	4,365	6,125	6,342	6,661	6,958	7,179	7,439	7,692	7,947	8,187	8,421	8,488	8,595	8,796	8,920	8,833	8,578	8,679	8,493	6,974	5,499	5,294	5,056	4,698
Note payable, net of current portion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	390	777	1,162	1,543	1,923	2,299
Other long-term liabilities
6,438	8,343	8,183	8,924	8,048	9,441	9,280	10,038	9,519	10,946	12,299	11,579	10,950	8,512	10,391	9,780	6,475	8,714	8,109	8,233	7,784	7,424	7,387	4,763	2,297	2,729	2,598	2,512	1,970	2,146	1,987	1,908	3,191	3,160	3,242	3,343
Total liabilities
371,377	175,854	188,785	186,241	184,270	179,747	209,106	154,774	161,692	162,314	194,867	160,238	172,735	177,141	207,319	167,833	171,950	169,887	203,770	162,060	189,483	181,695	213,238	165,936	188,615	199,579	244,669	169,938	204,757	202,029	217,051	153,987	156,597	161,521	184,572	112,148
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
Redeemable noncontrolling interest
-	-	-	-	-	-	-	-	-	500	700	700	700	700	9,902	7,502	9,801	9,801	9,601	9,601	19,801	19,801	19,801	16,801	15,200	15,200	15,200	15,200	17,200	17,200	17,200	17,200	17,200	17,200	17,200	17,200
Equity:
Stockholders' equity
Common stock, par value $0.0001; 100,000,000 shares authorized; 46,274,270 and 45,575,236 shares issued; and 40,939,527 and 40,240,493 shares outstanding at March 31, 2020 and June 30, 2019, respectively
4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4
Additional paid-in capital
724,992	720,451	714,374	713,436	708,269	705,825	701,398	703,351	697,762	697,044	691,294	690,488	681,434	678,154	674,141	675,436	668,238	665,807	663,202	663,461	649,249	645,902	642,058	639,036	630,533	626,421	621,254	548,390	534,292	527,574	523,081	519,439	521,503	519,487	515,330	512,181
Accumulated other comprehensive income (loss)
49	-188	99	-40	-181	-59	-180	-252	-562	-364	-325	-170	36	97	-141	-293	-643	-791	-911	-1,065	-952	-1,227	-658	-112	-54	-101	-189	-294	-326	-50	-214	100	157	134	110	28
Retained earnings (accumulated deficit)
42,065	33,311	12,717	22,447	19,130	668	-23,044	-13,432	-22,772	-35,842	-49,101	-40,976	-34,493	-43,608	-55,260	-41,427	-40,444	-54,717	-63,255	-50,462	-38,882	-55,893	-68,226	-61,450	-73,806	-89,755	-86,090	-81,050	-83,319	-95,293	-104,804	-109,161	-110,961	-117,938	-122,104	-126,704
Treasury stock of 5,334,743 shares at cost at March 31, 2020 and June 30, 2019
102,482	102,482	102,482	102,482	102,482	102,482	102,482	102,482	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	48,548	26,624	5,883	-	-	-	-	-	-	-	-	-	-
Total stockholders' equity
664,628	651,096	624,712	633,365	624,740	603,956	575,696	587,189	599,432	585,842	566,872	574,346	571,981	559,647	543,744	558,720	552,155	535,303	524,040	-	534,419	513,786	498,178	-	530,053	530,686	534,979	530,162	513,763	495,347	481,179	473,494	473,815	464,799	456,452	448,621
Noncontrolling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,387	3,422	3,449	3,596	4,198	4,133	4,068	4,154	4,122	4,106	4,092	4,126
Total K12 Inc. stockholders' equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	536,938	-	513,786	498,178	528,930	533,440	534,108	538,428	533,758	517,961	499,480	485,247	477,648	477,937	468,905	460,544	452,747
Total liabilities and stockholders' equity
1,036,005	826,950	813,497	819,606	809,010	783,703	784,802	741,963	761,124	748,656	762,439	735,284	745,416	737,488	760,965	734,055	733,906	714,991	737,411	708,599	743,703	715,282	731,217	711,667	737,255	748,887	798,297	718,896	739,918	718,709	719,498	648,835	651,734	647,626	662,316	582,095