American Public Education, Inc. (APEI) financial statements (2022 and earlier)

Company profile

Business Address 111 W CONGRESS STREET
CHARLES TOWN, WV 25414
State of Incorp. DE
Fiscal Year End December 31
SIC 82 - Educational Services (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

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    179,205146,351105,734
Cash and cash equivalents    179,205146,351105,734
Restricted cash and investments2,2001,2001,3001,700 1,6003,300
Receivables41,32917,65213,08214,9577,1366,9497,917
Prepaid expense11,6816,4727,0875,4824,7925,32710,746
Other undisclosed current assets147,427226,486201,440210,431 3,4923,414
Total current assets:202,637251,810222,909232,570191,133163,719131,111
Noncurrent Assets
Operating lease, right-of-use asset77,9438,74311,658
Property, plant and equipment102,41768,43478,49586,88192,37497,687109,281
Long-term investments and receivables 10,49510,50211,96612,48114,61115,915
Long-term investments 10,49510,50211,96612,48114,61115,915
Intangible assets, net (including goodwill)328,56826,56326,56333,89933,89933,89938,634
Goodwill243,48626,56326,56333,89933,89933,89938,634
Intangible assets, net (excluding goodwill)85,082      
Disposal group, including discontinued operation, noncurrent assets     2,100 
Other noncurrent assets14,0434,9734,7705,6429,1518,6968,955
Total noncurrent assets:522,971119,208131,988138,388147,905156,993172,785
TOTAL ASSETS:725,608371,018354,897370,958339,038320,712303,896
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities39,44730,56225,56926,01823,97721,53621,072
Accounts payable13,4973,7573,5469,1108,8446,8536,264
Accrued liabilities10,81910,9678,2703,80813,42314,12414,808
Employee-related liabilities15,13115,66013,75313,100   
Taxes payable 178  1,710559 
Deferred revenue21,77622,10417,426
Debt8,750 2,283    
Deferred revenue and credits19,37420,63917,239
Contract with customer, liability18,310
Other undisclosed current liabilities13,7052,392    12,488
Total current liabilities:83,67855,05845,27844,32843,35142,17550,799
Noncurrent Liabilities
Long-term debt and lease obligation221,2596,4559,495    
Long-term debt, excluding current maturities151,771      
Operating lease, liability69,4886,4559,495
Liabilities, other than long-term debt5,0592,5803,391  13,86715,944
Deferred tax liabilities, net  13,86715,944
Deferred income tax liabilities5,0592,5803,391
Other undisclosed noncurrent liabilities   5,3646,281  
Total noncurrent liabilities:226,3189,03512,8865,3646,28113,86715,944
Total liabilities:309,99664,09358,16449,69249,63256,04266,743
Stockholders' equity
Stockholders' equity attributable to parent415,612306,925296,733321,266289,406264,670237,153
Common stock187148152164163161160
Additional paid in capital286,385195,597190,620187,172180,674177,061173,700
Accumulated other comprehensive income108      
Retained earnings128,932111,180105,961133,930108,56987,44863,293
Total stockholders' equity:415,612306,925296,733321,266289,406264,670237,153
TOTAL LIABILITIES AND EQUITY:725,608371,018354,897370,958339,038320,712303,896

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues418,803321,785286,270297,687299,248313,139327,910
Revenue, net299,248313,139327,910
Cost of revenue(172,622)(122,161)(111,916)(115,280)(116,161)(117,013)(118,031)
Cost of goods and services sold(172,622)(122,161)(111,916)(115,280)   
Gross profit:246,181199,624174,354182,407183,087196,126209,879
Operating expenses(215,810)(174,867)(161,598)(149,881)(148,228)(157,850)(157,598)
Operating income:30,37124,75712,75632,52634,85938,27652,281
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(4,277)1,0923,9082,915185116115
Income from continuing operations before equity method investments, income taxes:26,09425,84916,66435,44135,04438,39252,396
Income (loss) from equity method investments(831)(7)  (2,430)70390
Income from continuing operations before income taxes:25,26325,84216,66435,44132,61439,09552,486
Income tax expense(7,511)(7,020)(5,187)(9,287)(11,493)(14,940)(20,072)
Net income:17,75218,82211,47726,15421,12124,15532,414
Other undisclosed net loss attributable to parent  (1,464)(515)   
Net income available to common stockholders, diluted:17,75218,82210,01325,63921,12124,15532,414

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:17,75218,82211,47726,15421,12124,15532,414
Comprehensive income:17,75218,82211,47726,15421,12124,15532,414
Other undisclosed comprehensive income, net of tax, attributable to parent108      
Comprehensive income, net of tax, attributable to parent:17,86018,82211,47726,15421,12124,15532,414

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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