Lincoln Educational Services Corporation (LINC) financial statements (2021 and earlier)

Company profile

Business Address 200 EXECUTIVE DRIVE
WEST ORANGE, NJ 07052
State of Incorp. NJ
Fiscal Year End December 31
SIC 82 - Educational Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments38241815213812
Cash and cash equivalents38241815213812
Receivables30211916101014
Inventory, net of allowances, customer advances and progress billings2212111
Inventory2212111
Prepaid expense 000001
Deferred costs      0
Disposal group, including discontinued operation   3254651
Other undisclosed current assets44191091034
Total current assets:7450574566105113
Noncurrent Assets
Operating lease, right-of-use asset5549✕✕✕✕✕
Property, plant and equipment484949   70
Long-term investments and receivables1615129656
Accounts and financing receivable, after allowance for credit loss1615129656
Intangible assets, net (including goodwill)15151515151523
Goodwill15151515151522
Intangible assets, net (excluding goodwill)      1
Restricted cash and investments 1512332015 
Deferred income tax assets36 ✕✕✕✕✕
Other noncurrent assets1111112
Deferred tax assets, net✕✕00   
Other undisclosed noncurrent assets     3(71)
Total noncurrent assets:1711448958413931
Other undisclosed assets   53556770
TOTAL ASSETS:245195146155163210214
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities33222522272526
Accounts payable16151411141312
Accrued liabilities1781112131214
Taxes payable0      
Deferred revenue2323✕✕✕✕✕
Debt21115 121030
Disposal group, including discontinued operation    1214 
Deferred revenue and credits✕✕✕25182126
Contract with customer, liability✕✕23✕✕✕✕
Other liabilities0021111
Other undisclosed current liabilities9      
Total current liabilities:67576547687183
Noncurrent Liabilities
Long-term debt and lease obligation, including:15323453304835
Long-term debt, excluding current maturities153234533035 
Capital lease obligations✕✕   425
Operating lease, liability5346✕✕✕✕✕
Other undisclosed long-term debt and lease obligation(53)(46)   1010
Liabilities, other than long-term debt748951013
Accounts payable and accrued liabilities  34447
Deferred income tax liabilities 0✕✕✕✕✕
Liability, pension and other postretirement and postemployment benefits4444 65
Other liabilities30011 0
Other undisclosed noncurrent liabilities53460 5  
Total noncurrent liabilities:75824262405847
Total liabilities:142140106109108129131
Stockholders' equity
Stockholders' equity attributable to parent, including:91434046558183
Treasury stock, value(83)(83)(83)(83)(83)(83)(83)
Additional paid in capital31302929292726
Accumulated other comprehensive loss(4)(3)(4)(5)(6)(7)(7)
Retained earnings (accumulated deficit)6(42)(44)(38)(26)26
Other undisclosed stockholders' equity attributable to parent141141141141141141141
Other undisclosed stockholders' equity1212     
Total stockholders' equity:103554046558183
TOTAL LIABILITIES AND EQUITY:245195146155163210214

Income statement (P&L) ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues293273263262197193325
Revenue, net✕✕✕262197193325
Cost of revenue(122)(123)(125)(129)(95)(92)(166)
Cost of goods and services sold(122)(123)(125)(129)(95)(92)(164)
Gross profit:171150138132102101159
Operating expenses(156)(145)(142)(137)(107)(100)(224)
Other undisclosed operating income      16
Operating income (loss):155(4)(5)(5)1(49)
Nonoperating income 000740
Investment income, nonoperating 000000
Other nonoperating income    740
Interest and debt expense(1)(3)(2)(7)(6)(7)(6)
Income (loss) from continuing operations before income taxes:142(6)(12)(4)(2)(54)
Income tax expense (benefit)35(0)(0)0(0)(0)4
Income (loss) from continuing operations:492(7)(11)(4)(3)(49)
Loss from discontinued operations    (24)(1)(7)
Net income (loss) attributable to parent:492(7)(11)(28)(3)(56)
Preferred stock dividends and other adjustments(1)      
Other undisclosed net loss available to common stockholders, basic(10)(0)     
Net income (loss) available to common stockholders, diluted:372(7)(11)(28)(3)(56)

Comprehensive Income ($ in millions)
Annual | Quarterly

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):492(7)(11)(28)(3)(56)
Comprehensive income (loss):492(7)(11)(28)(3)(56)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(1)10210(4)
Comprehensive income (loss), net of tax, attributable to parent:483(6)(10)(27)(3)(60)

Statements sources

The financial statements are based on the company's filings with the 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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