Strategic Education, Inc. (STRA) Financial Statements (2023 and earlier)
Company Profile
| Business Address |
2303 DULLES STATION BOULEVARD HERNDON, VA 20171 |
| State of Incorp. | MD |
| 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 millions)Annual | Quarterly
| 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 | 275 | 195 | 455 | 349 | 156 | 129 | 107 | ||
| Cash and cash equivalents | 269 | 188 | 420 | 312 | 156 | 129 | 107 | ||
| Short-term investments | 7 | 8 | 35 | 37 | |||||
| Receivables | 52 | 52 | 52 | 56 | 23 | 21 | 19 | ||
| Other current assets | 41 | 39 | 18 | 16 | 11 | 11 | 13 | ||
| Total current assets: | 368 | 286 | 524 | 420 | 190 | 161 | 139 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 150 | 121 | ✕ | ✕ | ✕ | ✕ | |||
| Property, plant and equipment | 151 | 159 | 117 | 123 | 74 | 73 | 77 | ||
| Long-term investments and receivables | 23 | 30 | 37 | 38 | 2 | ||||
| Long-term investments | 23 | 30 | 37 | 38 | |||||
| Accounts and financing receivable, after allowance for credit loss | 2 | ||||||||
| Intangible assets, net (including goodwill) | 1,562 | 1,645 | 1,005 | 1,061 | 21 | 21 | 7 | ||
| Goodwill | 1,286 | 1,319 | 732 | 733 | 21 | 21 | 7 | ||
| Intangible assets, net (excluding goodwill) | 276 | 326 | 273 | 328 | |||||
| Restricted cash and investments | 1 | ||||||||
| Other noncurrent assets | 52 | 55 | 22 | 19 | 12 | 13 | 6 | ||
| Other undisclosed noncurrent assets | 84 | 24 | 31 | 18 | |||||
| Total noncurrent assets: | 1,938 | 2,010 | 1,265 | 1,241 | 131 | 138 | 110 | ||
| TOTAL ASSETS: | 2,306 | 2,296 | 1,789 | 1,661 | 321 | 299 | 248 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 96 | 105 | 91 | 86 | 46 | 41 | 42 | ||
| Taxes payable | 1 | 0 | 1 | 2 | 3 | ||||
| Other undisclosed accounts payable and accrued liabilities | 96 | 105 | 89 | 86 | 45 | 39 | 40 | ||
| Deferred revenue | 73 | 61 | ✕ | ✕ | ✕ | ✕ | |||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 22 | 17 | 12 | ||
| Contract with customer, liability | ✕ | ✕ | 39 | 39 | ✕ | ✕ | ✕ | ||
| Other liabilities | 0 | 0 | |||||||
| Other undisclosed current liabilities | 27 | 35 | 27 | 0 | 1 | 2 | 3 | ||
| Total current liabilities: | 196 | 200 | 157 | 125 | 69 | 60 | 58 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 304 | 248 | |||||||
| Long-term debt, excluding current maturities | 142 | 142 | |||||||
| Operating lease, liability | 163 | 106 | ✕ | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt, including: | 92 | 99 | 41 | 51 | 43 | 50 | 48 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 21 | 18 | 15 | ||
| Contract with customer, liability | ✕ | ✕ | 31 | 24 | ✕ | ✕ | ✕ | ||
| Deferred income tax liabilities | 45 | 53 | ✕ | ✕ | ✕ | ✕ | |||
| Restructuring reserve | 2 | 7 | |||||||
| Other liabilities | 47 | 46 | 2 | 1 | |||||
| Other undisclosed liabilities, other than long-term debt | 7 | 19 | 22 | 33 | 33 | ||||
| Other undisclosed noncurrent liabilities | 128 | 59 | |||||||
| Total noncurrent liabilities: | 396 | 347 | 170 | 111 | 43 | 50 | 48 | ||
| Total liabilities: | 592 | 547 | 327 | 236 | 112 | 110 | 106 | ||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 1,714 | 1,748 | 1,463 | 1,425 | 209 | 188 | 143 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Additional paid in capital | 1,530 | 1,520 | 1,309 | 1,307 | 47 | 35 | 25 | ||
| Accumulated other comprehensive income | 9 | 49 | 0 | 0 | |||||
| Retained earnings | 175 | 180 | 153 | 118 | 162 | 153 | 118 | ||
| Total stockholders' equity: | 1,714 | 1,748 | 1,463 | 1,425 | 209 | 188 | 143 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,306 | 2,296 | 1,789 | 1,661 | 321 | 299 | 248 | ||
Income Statement (P&L) ($ in millions) Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,132 | 1,028 | 997 | 634 | 455 | 441 | 434 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 455 | 441 | 434 | |
| Cost of revenue | (88) | (90) | (84) | (85) | (265) | (259) | (250) | |
| Cost of goods and services sold | (245) | (241) | (234) | |||||
| Provision for loan, lease, and other losses | (49) | ✕ | ✕ | ✕ | ||||
| Gross profit: | 1,044 | 937 | 914 | 549 | 190 | 182 | 184 | |
| Operating expenses | (970) | (828) | (803) | (572) | (138) | (125) | (114) | |
| Operating income (loss): | 74 | 109 | 111 | (23) | 52 | 57 | 70 | |
| Nonoperating income | 3 | 5 | 13 | 4 | 1 | 0 | 0 | |
| Investment income, nonoperating | 1 | 0 | 0 | |||||
| Other nonoperating income | 3 | 5 | 13 | 4 | ||||
| Interest and debt expense | (0) | (0) | (0) | (1) | (1) | (4) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 77 | 113 | 123 | (19) | 53 | 57 | 66 | |
| Other undisclosed income from continuing operations before income taxes | 0 | 0 | 0 | |||||
| Income (loss) from continuing operations before income taxes: | 77 | 114 | 124 | (19) | 53 | 57 | 66 | |
| Income tax expense (benefit) | (22) | (28) | (43) | 3 | (32) | (22) | (26) | |
| Net income (loss) available to common stockholders, diluted: | 55 | 86 | 81 | (16) | 21 | 35 | 40 | |
Comprehensive Income ($ in millions)Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 55 | 86 | 81 | (16) | 21 | 35 | 40 | |
| Comprehensive income (loss): | 55 | 86 | 81 | (16) | 21 | 35 | 40 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (40) | 49 | 0 | 0 | (0) | |||
| Comprehensive income (loss), net of tax, attributable to parent: | 15 | 135 | 81 | (16) | 21 | 35 | 40 | |
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.