Houghton Mifflin Harcourt Company (HMHC) Financial Statements (2024 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 thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments420,318146,541170,901281,200271,543138,824
Cash and cash equivalents420,318146,541170,901281,200271,543138,824
Receivables299,413266,73992,477152,832282,179273,168
Inventory, net of allowances, customer advances and progress billings96,471145,027175,790166,963175,820237,226
Inventory96,471145,027175,790166,963175,820237,226
Disposal group, including discontinued operation   140,971   
Other undisclosed current assets26,19327,23425,10519,93123,21423,519
Total current assets:842,395585,541605,244620,926752,756672,737
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization    100  
Operating lease, right-of-use asset117,410119,113123,565126,850129,154132,065
Property, plant and equipment80,97882,38686,24893,20295,265100,925
Long-term investments and receivables5,8005,2004,4004,4002,300 
Long-term investments5,8005,2004,4004,4002,300 
Intangible assets, net (including goodwill)808,024819,031829,389866,561895,088906,123
Goodwill437,977437,977437,977437,977454,977454,977
Intangible assets, net (excluding goodwill)370,047381,054391,412428,584440,111451,146
Advance royalties 1,5812,1372,06442,48541,66143,038
Deferred income tax assets2,4152,4152,4152,4152,5202,520
Other noncurrent assets32,98035,12829,99134,87934,72638,727
Other undisclosed noncurrent assets194,764206,944217,151229,308252,858270,235
Total noncurrent assets:1,243,9521,272,3541,295,2231,400,2001,453,5721,493,633
TOTAL ASSETS:2,086,3471,857,8951,900,4672,021,1262,206,3282,166,370
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities161,568137,58490,583137,539166,412155,347
Interest and dividends payable4,26010,9334,13611,0173,98110,750
Employee-related liabilities62,80638,63417,60826,64738,58029,796
Accounts payable49,73645,78947,33649,10471,51265,647
Accrued liabilities44,76642,22821,50350,77152,33949,154
Deferred revenue386,431316,410320,988342,605356,823277,827
Debt   19,00019,00019,00019,000
Restructuring reserve   19,600 4,100
Disposal group, including discontinued operation   32,505   
Other liabilities40,27352,64323,46824,97326,38327,876
Other undisclosed current liabilities11,78915,54221,3828,10444,240109,221
Total current liabilities:600,061522,179507,926551,821612,858593,371
Noncurrent Liabilities
Long-term debt and lease obligation448,677450,903750,588756,706761,280766,847
Long-term debt, excluding current maturities317,095316,611621,319624,692628,066631,427
Liabilities, other than long-term debt42,45948,95451,50035,39655,51661,067
Deferred income tax liabilities11,88518,28518,50316,41118,78720,376
Liability, pension and other postretirement and postemployment benefits30,35930,56432,84516,56633,22737,198
Other liabilities2151051522,4193,5023,493
Operating lease, liability131,582134,292129,269132,014133,214135,420
Other undisclosed noncurrent liabilities624,953564,555542,065586,740596,630556,200
Total noncurrent liabilities:1,116,0891,064,4121,344,1531,378,8421,413,4261,384,114
Total liabilities:1,716,1501,586,5911,852,0791,930,6632,026,2841,977,485
Equity
Equity, attributable to parent370,197271,30448,38890,463180,044188,885
Common stock1,5231,5221,5201,5051,5041,501
Treasury stock, value(518,030)(518,030)(518,030)(518,030)(518,030)(518,030)
Additional paid in capital4,927,9344,924,8274,921,8454,918,5424,915,8064,912,270
Accumulated other comprehensive loss(47,404)(47,830)(49,134)(55,724)(46,551)(46,723)
Accumulated deficit(3,993,826)(4,089,185)(4,307,813)(4,255,830)(4,172,685)(4,160,133)
Total equity:370,197271,30448,38890,463180,044188,885
TOTAL LIABILITIES AND EQUITY:2,086,3471,857,8951,900,4672,021,1262,206,3282,166,370

Income Statement (P&L) ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Revenues417,130308,672146,195203,561386,590251,216
Cost of revenue
(Cost of Goods and Services Sold)
(183,029)(153,355)(86,354)(137,575)(219,175)(160,827)
Gross profit:234,101155,31759,84165,986167,41590,389
Operating expenses(131,323)(124,614)(89,235)(111,193)(160,869)(106,329)
Other undisclosed operating loss(7,241)(7,869)(7,906)(23,766)(6,274)(6,272)
Operating income (loss):95,53722,834(37,300)(68,973)272(22,212)
Nonoperating income (expense)452937(874)(186)2,231181
Investment income, nonoperating238963(674)8532,170120
Net periodic defined benefits expense (reversal of expense), excluding service cost component214(26)(200)(1,039)6161
Interest and debt expense(8,239)(22,490)(8,564)(15,526)(16,168)(17,482)
Other undisclosed income from continuing operations before equity method investments, income taxes    899  
Income (loss) from continuing operations before equity method investments, income taxes:87,7501,281(46,738)(83,786)(13,665)(39,513)
Other undisclosed income (loss) from continuing operations before income taxes1,41786820(873)3275
Income (loss) from continuing operations before income taxes:89,1672,149(46,718)(84,659)(13,633)(39,438)
Income tax expense (benefit)6,1929(2,310)1,5141,0811,270
Income (loss) from continuing operations:95,3592,158(49,028)(83,145)(12,552)(38,168)
Income (loss) before gain (loss) on sale of properties:95,359218,628(51,983)(83,145)(12,552)(38,168)
Income (loss) from discontinued operations 216,470(2,955)   
Net income (loss) available to common stockholders, diluted:95,359218,628(51,983)(83,145)(12,552)(38,168)

Comprehensive Income ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
Net income (loss):95,359218,628(51,983)(83,145)(12,552)(38,168)
Other comprehensive income 4261,3046,590 172993
Other undisclosed comprehensive income (loss)   (8,452)  
Comprehensive income (loss):95,785219,932(45,393)(91,597)(12,380)(37,175)
Other undisclosed comprehensive loss, net of tax, attributable to parent   (721)  
Comprehensive income (loss), net of tax, attributable to parent:95,785219,932(45,393)(92,318)(12,380)(37,175)

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.

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