Perdoceo Education Corporation (PRDO) Financial Statements (2024 and earlier)

Company Profile

Business Address 1750 E. GOLF ROAD
SCHAUMBURG, IL 60173
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
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, including:603,144508,723494,195406,360294,175229,159
Cash and cash equivalents118,009109,408319,982105,684108,68732,394
Short-term investments485,135399,315174,213300,676185,488196,428
Other undisclosed cash, cash equivalents, and short-term investments      337
Restricted cash and investments1,0129,4765,1964,000  
Receivables     55,01828,751
Inventory, net of allowances, customer advances and progress billings5,0041,904904596576763
Inventory5,0041,904904596576763
Prepaid expense11,7128,4116,9198,2097,2997,771
Other current assets1555972,5143411,936437
Other undisclosed current assets33,93746,00844,72547,5551,3812,567
Total current assets:654,964575,119554,453467,061360,385269,448
Noncurrent Assets
Operating lease, right-of-use asset19,09626,15636,66444,77350,366
Property, plant and equipment21,37126,03828,35527,76126,00630,048
Long-term investments and receivables1,2001,100 1,3001,244942
Long-term investments1,2001,100    
Accounts and financing receivable, after allowance for credit loss    1,3001,244942
Intangible assets, net (including goodwill)277,381297,104194,787133,83495,25695,256
Goodwill241,162243,540162,579118,31287,35687,356
Intangible assets, net (excluding goodwill)36,21953,56432,20815,5227,9007,900
Disposal group, including discontinued operation, noncurrent assets     81178
Deferred income tax assets23,80424,61325,11440,35160,169
Other noncurrent assets6,8416,4886,6886,4345,6394,993
Other undisclosed noncurrent assets2,6597501,3723 81,628
Total noncurrent assets:352,352382,249292,980254,456238,761213,045
TOTAL ASSETS:1,007,316957,368847,433721,517599,146482,493
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities60,92776,25951,54149,24356,90054,865
Taxes payable2111,4021,3761,472
Employee-related liabilities25,31222,66127,61624,530
Accounts payable10,76613,51810,83813,25911,5339,195
Accrued liabilities50,16162,74115,18011,92116,37519,668
Deferred revenue37,21571,59070,61334,53424,647
Debt     11,784 
Liability for uncertainty in income taxes 2,0005,7001,2001,0001,0001,000
Estimated litigation liability     7,100 
Disposal group, including discontinued operation     3536
Contract with customer, liability32,351
Other undisclosed current liabilities10,8979,83216,89019,0382,3798,300
Total current liabilities:111,039163,381140,244103,815103,81397,052
Noncurrent Liabilities
Long-term debt and lease obligation:   35,54943,40552,391 
Liabilities, other than long-term debt54,85668,14221,53018,39011,64730,238
Deferred rent credit      12,745
Other liabilities33,51040,85621,53018,39011,64717,493
Operating lease, liability21,34627,28635,54943,40552,391
Total noncurrent liabilities:54,85668,14257,07961,79564,03830,238
Total liabilities:165,895231,523197,323165,610167,851127,290
Equity
Equity, attributable to parent841,421725,845650,110555,907431,295355,203
Common stock903894887873860852
Treasury stock, value(334,220)(301,624)(276,895)(246,088)(227,315)(220,700)
Additional paid in capital694,798684,183674,242658,423639,335628,295
Accumulated other comprehensive income (loss)(666)(5,447)(96)364344(298)
Retained earnings (accumulated deficit)480,606347,839251,972142,33518,071(52,946)
Total equity:841,421725,845650,110555,907431,295355,203
TOTAL LIABILITIES AND EQUITY:1,007,316957,368847,433721,517599,146482,493

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues710,004695,208693,034687,314627,704581,296
Gross profit:710,004695,208693,034687,314627,704581,296
Operating expenses(559,558)(565,571)(544,018)(544,380)(541,242)(509,998)
Operating income:150,446129,637149,016142,93486,46271,298
Nonoperating income41,6754,632683,8966,5603,054
Investment income, nonoperating19,9806,8669303,8526,3923,539
Other nonoperating income (expense)22,099(1,834)58211335196
Interest and debt expense(404)(400)(920)(167)(167)(681)
Income from continuing operations before equity method investments, income taxes:191,717133,869148,164146,66392,85573,671
Income (loss) from equity method investments (1,800)    
Income from continuing operations before income taxes:191,717132,069148,164146,66392,85573,671
Income tax expense(44,469)(38,402)(39,430)(22,476)(22,428)(18,561)
Income from continuing operations:147,24893,667108,734124,18770,42755,110
Income before gain (loss) on sale of properties:108,717124,09769,81554,500
Loss from discontinued operations   (17)(90)(612)(610)
Other undisclosed net income4042,200920167167681
Net income:147,65295,867109,637124,26469,98255,181
Other undisclosed net income attributable to parent      
Net income available to common stockholders, diluted:147,65295,867109,637124,26469,98255,181

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:147,65295,867109,637124,26469,98255,181
Other comprehensive income (loss)4,781(5,351)(460)20642(134)
Comprehensive income:152,43390,516109,177124,28470,62455,047
Other undisclosed comprehensive income, net of tax, attributable to parent      
Comprehensive income, net of tax, attributable to parent:152,43390,516109,177124,28470,62455,047

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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