Strategic education, inc. (STRA)
Balance Sheet / Quarterly
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'10Dec'09
ASSETS
Current assets:
Cash and cash equivalents

442,845

419,693

397,094

375,515

352,387

311,732

276,382

171,600

165,867

155,933

150,483

147,867

147,099

129,245

120,502

117,422

117,498

106,889

86,917

195,557

188,279

162,283

150,471

136,076

126,200

94,760

85,220

67,540

50,762

47,517

45,609

48,690

52,704

57,137

57,071

50,558

71,094

64,107

84,122

88,010

63,958

Marketable securities

26,842

34,874

33,455

39,288

36,486

37,121

38,139

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

12,386

40,684

52,908

52,558

Tuition receivable, net

41,335

51,523

50,964

47,340

50,842

55,694

52,527

25,595

24,997

23,122

20,626

20,342

20,323

20,532

18,925

19,053

18,613

18,519

17,064

15,222

14,962

16,942

15,712

15,009

15,481

15,842

19,686

23,336

22,181

23,262

24,109

24,218

23,320

25,006

21,200

22,349

25,711

22,011

181,695

180,655

165,142

Income taxes receivable

-

-

6,970

10,518

-

-

6,995

5,592

-

-

2,734

1,485

-

-

2,437

897

-

-

-

-

-

-

-

-

-

-

907

0

0

4,454

7,964

136

-

394

-

-

-

-

6,764

-

-

Other current assets

21,761

18,004

17,130

17,660

16,874

15,814

17,367

11,385

10,558

11,293

12,917

10,357

9,978

10,766

10,838

8,409

8,383

6,944

15,745

14,520

14,342

17,426

16,497

15,398

16,095

16,738

12,503

11,383

12,052

14,422

14,255

11,886

13,365

12,131

12,785

10,884

11,415

10,231

12,024

10,278

8,317

Total current assets

532,783

524,094

505,613

490,321

456,589

420,361

391,410

214,172

201,422

190,348

186,760

180,051

177,400

160,543

152,702

145,781

144,494

132,352

119,726

225,299

217,583

196,651

182,680

166,483

157,776

127,340

118,316

102,259

84,995

89,655

91,937

84,930

89,389

94,668

91,056

83,791

108,220

108,735

325,289

331,851

289,975

Property and equipment, net

117,284

117,029

116,489

118,462

119,040

122,677

124,613

72,125

73,686

73,763

74,335

72,706

72,803

73,124

71,725

72,577

74,954

77,139

78,589

80,336

80,804

82,266

84,403

87,097

90,528

94,421

109,958

114,198

117,912

121,520

122,620

118,836

119,542

121,149

121,898

120,774

118,957

116,063

103,742

97,734

84,675

Right-of-use lease assets

82,345

84,778

93,208

97,484

101,533

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Marketable securities, non-current

36,590

36,633

26,532

25,737

31,866

37,678

33,324

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income tax assets

-

-

-

-

-

-

-

22,851

23,803

24,452

34,609

32,441

30,119

31,096

27,894

24,509

22,930

26,449

19,471

18,097

17,013

16,241

15,209

14,875

14,990

17,129

5

0

0

3,279

5,615

4,708

3,388

3,326

7,412

8,679

7,768

8,374

11,957

11,326

9,316

Intangible assets, net

259,178

273,011

286,844

300,678

314,511

328,344

342,477

-

-

7,260

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

732,075

732,075

732,075

732,104

732,799

732,540

730,729

17,919

20,744

20,744

20,744

20,744

20,744

20,744

20,793

20,793

21,042

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

6,800

-

-

-

-

-

-

-

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

500

500

500

-

500

500

500

Other assets

23,566

21,788

20,435

19,784

19,052

19,429

23,143

9,698

12,155

4,711

12,127

12,540

12,908

13,189

13,390

13,891

14,276

5,694

5,687

5,471

5,578

5,857

6,392

6,938

7,520

8,576

5,872

6,565

6,320

6,538

4,642

4,869

5,115

5,190

3,339

3,610

2,172

2,006

1,533

1,214

1,339

Total assets

1,783,821

1,789,408

1,781,196

1,784,570

1,775,390

1,661,029

1,645,696

336,765

331,810

321,278

328,575

318,482

313,974

298,696

286,504

277,551

277,696

248,434

230,273

336,003

327,778

307,815

295,484

282,193

277,614

254,266

240,951

229,822

216,027

227,792

231,614

220,143

224,234

231,133

224,205

217,354

237,617

235,178

443,021

442,625

385,805

LIABILITIES & STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses

81,859

90,828

86,092

86,066

80,085

85,979

78,092

46,657

45,806

46,177

50,514

41,286

38,398

41,132

44,818

42,127

38,108

42,253

44,459

40,733

42,905

43,836

47,713

33,174

38,503

38,527

39,058

31,617

31,082

39,124

40,362

25,757

36,517

34,039

-

-

-

41,792

-

-

-

Income taxes payable

13,728

1,352

0

0

6,144

419

-

-

2,541

1,038

-

-

8,598

1,883

-

-

7,231

2,684

1,054

4,236

8,539

1,286

1,040

7,741

10,937

2,569

-

711

4,700

0

-

-

15,789

-

2,620

5,619

22,715

934

0

2,781

5,100

Contract liabilities

40,495

39,284

45,571

40,919

40,826

38,733

38,025

22,547

23,931

21,851

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities

24,806

25,284

26,167

26,834

26,462

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

38,014

31,983

27,107

-

41,301

24,934

21,261

Accrued expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,862

3,632

5,732

-

11,432

9,836

7,794

Deferred revenue

-

-

-

-

-

-

-

-

-

-

21,784

20,017

19,173

16,691

16,633

17,140

16,868

12,373

11,741

8,974

5,583

4,682

4,258

3,372

1,947

656

585

227

229

494

1,163

3,161

1,303

15,364

14,612

8,026

15,331

3,523

184,715

165,463

149,804

Other current liabilities

-

-

-

-

-

-

-

-

-

-

-

-

62

133

203

273

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

281

Current portion of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

6,250

6,250

6,250

5,469

4,688

3,906

3,125

3,125

3,125

3,125

3,125

30,000

30,000

30,000

27,500

22,500

15,000

-

-

-

-

-

Total current liabilities

160,888

156,748

157,830

153,819

153,517

125,131

116,117

69,204

72,278

69,066

72,298

61,303

66,231

59,839

61,654

59,540

62,488

57,591

57,535

60,474

63,558

56,335

58,761

49,256

55,574

45,158

43,049

35,961

39,417

43,024

71,806

59,199

83,890

77,184

82,889

64,541

71,166

46,530

237,729

203,295

184,240

Deferred income tax liabilities

44,581

47,942

57,016

66,323

70,298

59,358

71,126

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities, non-current

78,765

80,557

83,067

86,998

90,501

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other long-term liabilities

40,440

41,451

38,624

39,554

37,636

51,316

50,123

43,721

41,240

43,015

40,788

47,978

49,217

50,483

51,631

50,073

57,091

47,987

45,561

45,498

46,919

46,248

44,942

47,349

50,685

51,456

21,406

22,593

23,193

21,905

22,315

21,697

21,818

21,656

15,066

14,446

13,148

12,644

12,313

12,169

11,745

Long term debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

109,375

110,938

112,500

114,063

115,625

117,188

118,750

119,531

120,313

121,094

121,875

47,500

55,000

62,500

70,000

77,500

85,000

-

-

-

-

-

Revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

25,000

15,000

-

20,000

5,000

15,000

80,000

-

-

-

-

Total liabilities

324,674

326,698

336,537

346,694

351,952

235,805

237,366

112,925

113,518

112,081

113,086

109,281

115,448

110,322

113,285

109,613

119,579

105,578

103,096

215,347

221,415

215,083

217,766

212,230

223,447

215,364

183,986

178,867

183,704

186,804

166,621

150,896

168,208

188,840

180,455

178,987

164,314

59,174

250,042

215,464

195,985

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

-

0

-

-

-

Stockholders’ equity:
Common stock, par value $0.01; 32,000,000 shares authorized; 21,964,809 and 22,213,587 shares issued and outstanding at December 31, 2019 and March 31, 2020, respectively

222

220

220

219

219

217

217

113

113

112

112

112

112

111

111

112

112

110

110

110

110

109

109

109

108

108

109

109

108

114

119

119

119

118

120

120

124

133

136

139

140

Additional paid-in capital

1,287,406

1,309,438

1,306,353

1,305,148

1,304,170

1,306,653

1,301,228

53,015

49,766

47,079

44,021

41,106

37,879

35,453

32,016

29,612

27,577

24,738

22,100

19,447

17,000

14,550

12,383

9,832

7,544

7,137

6,289

3,123

377

299

9,234

5,731

1,944

295

6,059

2,438

0

1,206

0

701

1,157

Accumulated other comprehensive income

253

233

447

449

266

32

-22

-

-

-

-

-

-

-

-

-

-

-

0

-145

-117

88

184

-67

103

28

-19

286

-597

-736

-545

-558

-652

-611

-840

-645

0

40

295

285

305

Retained earnings

171,266

152,819

137,639

132,060

118,783

118,322

106,907

170,712

168,413

162,006

171,356

167,983

160,535

152,810

141,092

138,214

130,428

118,008

104,967

101,244

89,370

77,985

65,042

60,089

46,412

31,629

50,586

47,437

32,435

41,311

56,185

63,955

54,615

42,491

38,411

36,454

73,179

174,625

192,548

226,036

188,218

Total stockholders’ equity

1,459,147

1,462,710

1,444,659

1,437,876

1,423,438

1,425,224

1,408,330

223,840

218,292

209,197

215,489

209,201

198,526

188,374

173,219

167,938

158,117

142,856

127,177

120,656

106,363

92,732

77,718

69,963

54,167

38,902

56,965

50,955

32,323

40,988

64,993

69,247

56,026

42,293

43,750

38,367

73,303

176,004

192,979

227,161

189,820

Total liabilities and stockholders’ equity

1,783,821

1,789,408

1,781,196

1,784,570

1,775,390

1,661,029

1,645,696

336,765

331,810

321,278

328,575

318,482

313,974

298,696

286,504

277,551

277,696

248,434

230,273

336,003

327,778

307,815

295,484

282,193

277,614

254,266

240,951

229,822

216,027

227,792

231,614

220,143

224,234

231,133

224,205

217,354

237,617

235,178

443,021

442,625

385,805