ModivCare Inc. (MODV) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
6900 LAYTON AVENUE DENVER, CO 80237 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 47 - Transportation Services (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 2 | 14 | 133 | 183 | 61 | 6 | |||
| Cash and cash equivalents | 2 | 14 | 133 | 183 | 61 | 6 | |||
| Restricted cash and investments | 1 | 1 | 0 | 0 | 0 | 1 | |||
| Receivables | 375 | 295 | 233 | 208 | 180 | 148 | |||
| Inventory, net of allowances, customer advances and progress billings | 2 | 1 | |||||||
| Inventory | 2 | 1 | |||||||
| Prepaid expense | 23 | 24 | 23 | 5 | 37 | ||||
| Contract with customer, asset, after allowance for credit loss | 144 | ||||||||
| Disposal group, including discontinued operation | 1 | 0 | 7 | ||||||
| Other current assets | 12 | 8 | 6 | 7 | |||||
| Other undisclosed current assets | (117) | 11 | 6 | 2 | 3 | 5 | |||
| Total current assets: | 405 | 346 | 410 | 427 | 256 | 211 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 40 | 39 | 44 | 31 | 20 | ✕ | |||
| Property, plant and equipment | 54 | 28 | 23 | 23 | |||||
| Long-term investments and receivables | 42 | 41 | 137 | 131 | 162 | ||||
| Long-term investments | 42 | 41 | 137 | 131 | 162 | ||||
| Intangible assets, net (including goodwill) | 816 | 1,016 | 1,216 | 791 | 155 | 161 | |||
| Goodwill | 786 | 969 | 925 | 445 | 135 | 135 | |||
| Intangible assets, net (excluding goodwill) | 30 | 47 | 292 | 346 | 20 | 26 | |||
| Restricted cash and investments | 3 | ||||||||
| Other noncurrent assets | 49 | 40 | 22 | 13 | 12 | 10 | |||
| Other undisclosed noncurrent assets | 416 | 461 | 282 | 3 | |||||
| Total noncurrent assets: | 1,362 | 1,598 | 1,618 | 999 | 341 | 361 | |||
| TOTAL ASSETS: | 1,767 | 1,944 | 2,027 | 1,426 | 597 | 572 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 183 | 191 | 128 | 227 | 49 | 48 | |||
| Accounts payable | 55 | 55 | 9 | 8 | 10 | 9 | |||
| Accrued liabilities | 128 | 136 | 120 | 219 | 39 | 39 | |||
| Deferred revenue | 4 | 3 | 0 | ✕ | |||||
| Debt | 114 | 0 | 7 | 1 | |||||
| Disposal group, including discontinued operation | 2 | 1 | 3 | ||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1 | ||
| Other undisclosed current liabilities | 223 | 301 | 395 | 93 | 93 | 90 | |||
| Total current liabilities: | 520 | 492 | 527 | 325 | 150 | 143 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 984 | 979 | 975 | 486 | 0 | 0 | |||
| Long-term debt, excluding current maturities | 984 | 979 | |||||||
| Finance lease, liability | 0 | ✕ | |||||||
| Other undisclosed long-term debt and lease obligation | 941 | 463 | (15) | 0 | |||||
| Liabilities, other than long-term debt | 107 | 119 | 117 | 181 | 16 | 16 | |||
| Deferred revenue | 1 | 1 | ✕ | ||||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 1 | ||
| Deferred income tax liabilities | 40 | 57 | 95 | 92 | ✕ | ||||
| Other liabilities | 34 | 29 | 23 | 88 | 15 | 15 | |||
| Operating lease, liability | 34 | 32 | 35 | 23 | 15 | ✕ | |||
| Other undisclosed noncurrent liabilities | 35 | 23 | 37 | 25 | |||||
| Total noncurrent liabilities: | 1,091 | 1,098 | 1,127 | 690 | 52 | 41 | |||
| Total liabilities: | 1,611 | 1,590 | 1,654 | 1,014 | 203 | 184 | |||
| Equity | |||||||||
| Equity, attributable to parent | 156 | 355 | 373 | 412 | 318 | 311 | |||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Treasury stock, value | (270) | (270) | (269) | (228) | (218) | (211) | |||
| Additional paid in capital | 451 | 444 | 430 | 421 | 352 | 335 | |||
| Retained earnings (accumulated deficit) | (24) | 180 | 212 | 218 | 184 | 187 | |||
| Total equity: | 156 | 355 | 373 | 412 | 318 | 311 | |||
| Other undisclosed liabilities and equity | 77 | 77 | |||||||
| TOTAL LIABILITIES AND EQUITY: | 1,767 | 1,944 | 2,027 | 1,426 | 597 | 572 | |||
Income Statement (P&L) ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,751 | 2,504 | 1,997 | 1,369 | 1,510 | 1,385 | ||
| Cost of revenue | (2,304) | (2,032) | (1,584) | (1,082) | (1,401) | (1,285) | ||
| Cost of goods and services sold | (2,304) | (2,032) | (1,584) | (1,079) | (1,401) | (1,285) | ||
| Gross profit: | 447 | 472 | 413 | 286 | 109 | 100 | ||
| Operating expenses | (2,896) | (2,455) | (328) | (163) | (84) | (1,361) | ||
| Other undisclosed operating income | 2,309 | 2,039 | 5 | 1,285 | ||||
| Operating income (loss): | (140) | 57 | 90 | 123 | 25 | 24 | ||
| Interest and debt expense | (9) | |||||||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | (49) | 0 | (30) | (1) | ||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (140) | 57 | 41 | 114 | (6) | 23 | ||
| Other undisclosed loss from continuing operations before income taxes | (69) | (62) | ||||||
| Income (loss) from continuing operations before income taxes: | (209) | (5) | 41 | 114 | (6) | 23 | ||
| Income tax expense (benefit) | 4 | 3 | (9) | (25) | 1 | (5) | ||
| Other undisclosed loss from continuing operations | (38) | |||||||
| Income (loss) from continuing operations: | (205) | (2) | (6) | 90 | (5) | 18 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (7) | 89 | 1 | (19) | |
| Income (loss) from discontinued operations | (0) | (1) | 6 | (37) | ||||
| Other undisclosed net income (loss) | 0 | (30) | ||||||
| Net income (loss): | (204) | (32) | (7) | 89 | 1 | (19) | ||
| Other undisclosed net loss attributable to parent | (0) | |||||||
| Net income (loss) attributable to parent: | (204) | (32) | (7) | 89 | 1 | (19) | ||
| Preferred stock dividends and other adjustments | (2) | (4) | (4) | |||||
| Undistributed earnings (loss) allocated to participating securities, basic | (2) | (2) | ||||||
| Other undisclosed net loss available to common stockholders, basic | (52) | |||||||
| Net income (loss) available to common stockholders, diluted: | (204) | (32) | (7) | 32 | (3) | (25) | ||
Comprehensive Income ($ in millions)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (204) | (32) | (7) | 89 | 1 | (19) | ||
| Other comprehensive income | 26 | |||||||
| Comprehensive income (loss): | (204) | (32) | (7) | 89 | 1 | 7 | ||
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (2) | |||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (204) | (32) | (7) | 89 | 1 | 5 | ||
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.