Houghton Mifflin Harcourt Company (HMHC) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
125 HIGH STREET BOSTON, MA 02110 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2731 - Books: Publishing, or Publishing and Printing (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 281 | 296 | 303 | 235 | 307 | 432 | |||
| Cash and cash equivalents | 281 | 296 | 253 | 149 | 226 | 234 | |||
| Short-term investments | 50 | 86 | 81 | 198 | |||||
| Receivables | 153 | 184 | 204 | 201 | 216 | 256 | |||
| Inventory, net of allowances, customer advances and progress billings | 167 | 213 | 184 | 155 | 162 | 171 | |||
| Inventory | 167 | 213 | 184 | 155 | 162 | 171 | |||
| Other undisclosed current assets | 20 | 19 | 15 | 30 | 20 | 23 | |||
| Total current assets: | 621 | 713 | 706 | 621 | 706 | 883 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 0 | 0 | ✕ | ✕ | ✕ | ✕ | |||
| Operating lease, right-of-use asset | 127 | 132 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 93 | 100 | 126 | 154 | 175 | 150 | |||
| Long-term investments and receivables | 4 | ||||||||
| Long-term investments | 4 | ||||||||
| Intangible assets, net (including goodwill), including: | 867 | 1,191 | 521 | 611 | 686 | 1,696 | |||
| Goodwill | 438 | 717 | 716 | 783 | 783 | 783 | |||
| Intangible assets, net (excluding goodwill) | 429 | 474 | (908) | (758) | (606) | (291) | |||
| Other undisclosed intangible assets, net (including goodwill) | 713 | 586 | 509 | 1,204 | |||||
| Advance royalties | 42 | 45 | 48 | 46 | 44 | 45 | |||
| Deferred income tax assets | 2 | ✕ | ✕ | ✕ | ✕ | ||||
| Other noncurrent assets | 35 | 31 | 28 | 20 | 20 | 38 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | 3 | 4 | 3 | 4 | ||
| Other undisclosed noncurrent assets | 229 | 300 | 1,062 | 1,108 | 1,098 | 322 | |||
| Total noncurrent assets: | 1,400 | 1,800 | 1,789 | 1,942 | 2,026 | 2,254 | |||
| TOTAL ASSETS: | 2,021 | 2,513 | 2,495 | 2,564 | 2,731 | 3,137 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 138 | 185 | 197 | 193 | 194 | 230 | |||
| Interest and dividends payable | 11 | 4 | 0 | 0 | 0 | 0 | |||
| Employee-related liabilities | 27 | 57 | 53 | 58 | 45 | 49 | |||
| Accounts payable | 49 | 52 | 76 | 62 | 76 | 94 | |||
| Accrued liabilities | 51 | 73 | 67 | 73 | 72 | 86 | |||
| Deferred revenue | 343 | 305 | ✕ | ✕ | ✕ | ✕ | |||
| Debt | 19 | 28 | 8 | 8 | 8 | 8 | |||
| Restructuring reserve | 20 | 12 | |||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 275 | 273 | 231 | ||
| Other liabilities | 25 | 24 | 27 | 23 | 24 | 35 | |||
| Other undisclosed current liabilities | 8 | 256 | 5 | 7 | 3 | ||||
| Total current liabilities: | 552 | 555 | 488 | 504 | 505 | 507 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 757 | 773 | 756 | 760 | 765 | 784 | |||
| Long-term debt, excluding current maturities | 625 | 638 | 756 | 760 | 765 | 784 | |||
| Liabilities, other than long-term debt | 35 | 21 | 58 | 61 | 116 | 183 | |||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 27 | 22 | 71 | 140 | ||
| Deferred income tax liabilities | 16 | ✕ | ✕ | ✕ | ✕ | ||||
| Liability, pension and other postretirement and postemployment benefits | 17 | 15 | 14 | 20 | 22 | 24 | |||
| Other liabilities | 2 | 6 | 17 | 18 | 22 | 20 | |||
| Operating lease, liability | 132 | 135 | ✕ | ✕ | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 587 | 597 | 425 | 443 | 466 | 464 | |||
| Total noncurrent liabilities: | 1,379 | 1,392 | 1,239 | 1,264 | 1,346 | 1,432 | |||
| Total liabilities: | 1,931 | 1,947 | 1,727 | 1,768 | 1,851 | 1,939 | |||
| Equity | |||||||||
| Equity, attributable to parent | 90 | 566 | 768 | 795 | 880 | 1,198 | |||
| Common stock | 2 | 1 | 1 | 1 | 1 | 1 | |||
| Treasury stock, value | (518) | (518) | (518) | (518) | (518) | (463) | |||
| Additional paid in capital | 4,919 | 4,906 | 4,893 | 4,880 | 4,868 | 4,833 | |||
| Accumulated other comprehensive loss | (56) | (47) | (45) | (47) | (53) | (40) | |||
| Accumulated deficit | (4,256) | (3,776) | (3,563) | (3,522) | (3,418) | (3,134) | |||
| Total equity: | 90 | 566 | 768 | 795 | 880 | 1,198 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,021 | 2,513 | 2,495 | 2,564 | 2,731 | 3,137 | |||
Income Statement (P&L) ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,031 | 1,391 | 1,322 | 1,408 | 1,373 | 1,416 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 1,408 | 1,373 | 1,416 | |
| Cost of revenue (Cost of Goods and Services Sold) | (644) | (844) | (725) | (790) | (802) | (824) | ||
| Gross profit: | 387 | 546 | 597 | 617 | 570 | 592 | ||
| Operating expenses | (512) | (684) | (654) | (699) | (854) | (686) | ||
| Other undisclosed operating loss | (305) | (25) | (34) | (31) | (27) | (22) | ||
| Operating income (loss): | (429) | (163) | (91) | (114) | (311) | (116) | ||
| Nonoperating income (expense) | 2 | (1) | (0) | 1 | (1) | (2) | ||
| Investment income, nonoperating | 3 | (1) | (1) | 1 | (1) | (2) | ||
| Net periodic defined benefits expense (reversal of expense), excluding service cost component | (1) | 0 | 1 | ✕ | ✕ | ✕ | ||
| Interest and debt expense | (66) | (53) | (46) | (43) | (39) | (35) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 1 | 7 | 4 | 1 | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (492) | (210) | (132) | (154) | (350) | (154) | ||
| Other undisclosed income from continuing operations before income taxes | ||||||||
| Income (loss) from continuing operations before income taxes: | (492) | (210) | (132) | (154) | (350) | (154) | ||
| Income tax expense (benefit) | 12 | (4) | (6) | 50 | 65 | 20 | ||
| Income (loss) from continuing operations: | (480) | (214) | (137) | (103) | (285) | (134) | ||
| Income (loss) before gain (loss) on sale of properties: | (480) | (214) | (94) | (103) | (285) | (134) | ||
| Income from discontinued operations | 43 | |||||||
| Net income (loss) available to common stockholders, diluted: | (480) | (214) | (94) | (103) | (285) | (134) | ||
Comprehensive Income ($ in millions)
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (480) | (214) | (94) | (103) | (285) | (134) | ||
| Other comprehensive income (loss) | (8) | (2) | 1 | 7 | (14) | (13) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (488) | (216) | (93) | (96) | (298) | (147) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.