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
| 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | 9/30/2021 Q3 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 227 | 223 | 274 | 272 | 300 | 275 | 277 | ||
| Cash and cash equivalents | 203 | 214 | 263 | 263 | 293 | 269 | 275 | ||
| Short-term investments | 24 | 9 | 11 | 9 | 7 | 7 | 3 | ||
| Receivables | 72 | 63 | 82 | 76 | 65 | 52 | 87 | ||
| Disposal group, including discontinued operation | 4 | 2 | |||||||
| Other current assets | 54 | 43 | 47 | 48 | 53 | 41 | 40 | ||
| Total current assets: | 357 | 329 | 403 | 396 | 418 | 368 | 406 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 121 | 125 | 125 | 133 | 147 | 150 | 122 | ||
| Property, plant and equipment | 124 | 133 | 136 | 142 | 153 | 151 | 147 | ||
| Long-term investments and receivables | 13 | 13 | 15 | 18 | 21 | 23 | 28 | ||
| Long-term investments | 13 | 13 | 15 | 18 | 21 | 23 | 28 | ||
| Intangible assets, net (including goodwill) | 1,500 | 1,512 | 1,486 | 1,523 | 1,579 | 1,562 | 1,559 | ||
| Goodwill | 1,243 | 1,251 | 1,226 | 1,256 | 1,303 | 1,286 | 1,280 | ||
| Intangible assets, net (excluding goodwill) | 257 | 261 | 260 | 266 | 276 | 276 | 278 | ||
| Other noncurrent assets | 51 | 50 | 50 | 49 | 50 | 52 | 54 | ||
| Total noncurrent assets: | 1,809 | 1,833 | 1,813 | 1,864 | 1,950 | 1,938 | 1,910 | ||
| TOTAL ASSETS: | 2,166 | 2,162 | 2,215 | 2,260 | 2,368 | 2,306 | 2,316 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 93 | 91 | 101 | 85 | 104 | 96 | 103 | ||
| Taxes payable | ✕ | ✕ | ✕ | ✕ | 9 | 3 | |||
| Accrued liabilities | 2 | 7 | |||||||
| Other undisclosed accounts payable and accrued liabilities | 91 | 84 | 101 | 85 | 95 | 96 | 101 | ||
| Deferred revenue | 123 | 88 | 132 | 121 | 116 | 73 | 124 | ||
| Other undisclosed current liabilities | 26 | 31 | 27 | 29 | 35 | 27 | 28 | ||
| Total current liabilities: | 242 | 210 | 260 | 236 | 255 | 196 | 256 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 101 | 101 | 278 | 287 | 301 | 304 | 281 | ||
| Long-term debt, excluding current maturities | 101 | 101 | 141 | 141 | 142 | 142 | 142 | ||
| Liabilities, other than long-term debt | 212 | 215 | 79 | 85 | 88 | 92 | 85 | ||
| Deferred income tax liabilities | 36 | 35 | 34 | 39 | 40 | 45 | 41 | ||
| Other liabilities | 44 | 46 | 45 | 47 | 48 | 47 | 44 | ||
| Operating lease, liability | 132 | 134 | 137 | 146 | 159 | 163 | 139 | ||
| Total noncurrent liabilities: | 314 | 316 | 357 | 373 | 389 | 396 | 365 | ||
| Total liabilities: | 555 | 526 | 617 | 608 | 644 | 592 | 621 | ||
| Equity | |||||||||
| Equity, attributable to parent | 1,610 | 1,636 | 1,598 | 1,652 | 1,724 | 1,714 | 1,695 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Additional paid in capital | 1,512 | 1,511 | 1,508 | 1,514 | 1,528 | 1,530 | 1,525 | ||
| Accumulated other comprehensive income (loss) | (44) | (35) | (66) | (28) | 29 | 9 | 2 | ||
| Retained earnings | 143 | 160 | 157 | 166 | 167 | 175 | 168 | ||
| Total equity: | 1,610 | 1,636 | 1,598 | 1,652 | 1,724 | 1,714 | 1,695 | ||
| TOTAL LIABILITIES AND EQUITY: | 2,166 | 2,162 | 2,215 | 2,260 | 2,368 | 2,306 | 2,316 | ||
Income Statement (P&L) ($ in millions) Annual | Quarterly
| 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | 9/30/2021 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 257 | 270 | 263 | 274 | 259 | 272 | 270 | |
| Cost of revenue | (10) | 0 | (4) | (8) | (6) | (40) | (4) | |
| Gross profit: | 247 | 270 | 259 | 266 | 253 | 232 | 266 | |
| Operating expenses | (248) | (243) | (251) | (244) | (239) | (204) | (259) | |
| Operating income (loss): | (1) | 28 | 8 | 22 | 13 | 28 | 7 | |
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 0 | (0) | (0) | 0 | (1) | 2 | (2) | |
| Income (loss) from continuing operations before income taxes: | (1) | 28 | 8 | 22 | 12 | 29 | 6 | |
| Income tax expense | (1) | (9) | (1) | (7) | (5) | (8) | (2) | |
| Income (loss) from continuing operations: | (2) | 18 | 6 | 15 | 7 | 22 | 4 | |
| Income before gain (loss) on sale of properties: | ✕ | ✕ | 6 | 15 | 7 | 22 | 4 | |
| Net income (loss) available to common stockholders, diluted: | (2) | 18 | 6 | 15 | 7 | 22 | 4 | |
Comprehensive Income ($ in millions)Annual | Quarterly
| 3/31/2023 Q1 | 12/31/2022 Q4 | 9/30/2022 Q3 | 6/30/2022 Q2 | 3/31/2022 Q1 | 12/31/2021 Q4 | 9/30/2021 Q3 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (2) | 18 | 6 | 15 | 7 | 22 | 4 | |
| Comprehensive income (loss): | (2) | 18 | 6 | 15 | 7 | 22 | 4 | |
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (9) | 31 | (38) | (57) | 20 | 7 | (29) | |
| Comprehensive income (loss), net of tax, attributable to parent: | (11) | 50 | (32) | (42) | 27 | 29 | (25) | |
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.