Bright Horizons Family Solutions Inc. (BFAM) financial statements (2023 and earlier)
Company profile
Business Address |
2 WELLS AVENUE NEWTON, MA 02459 |
State of Incorp. | |
Fiscal Year End | December 31 |
SIC | 8351 - Child Day Care Services (benchmarking) |
More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
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 | 284 | 406 | 45 | 15 | 23 | 15 | 12 | ||
Cash and cash equivalents | 261 | 384 | 28 | 15 | 23 | 15 | 12 | ||
Short-term investments | 23 | 21 | 17 | ||||||
Restricted cash and investments | 4 | 4 | 3 | 3 | |||||
Receivables | 211 | 177 | 149 | 131 | 117 | 97 | 97 | ||
Prepaid expense | 6 | 6 | 5 | 5 | 23 | 18 | 27 | ||
Other undisclosed current assets | 35 | 32 | 26 | 39 | 29 | 25 | 17 | ||
Total current assets: | 540 | 624 | 229 | 194 | 192 | 154 | 153 | ||
Noncurrent Assets | |||||||||
Operating lease, right-of-use asset | 696 | 718 | 701 | ✕ | ✕ | ✕ | ✕ | ||
Property, plant and equipment | 598 | 629 | 636 | 597 | 575 | 529 | 430 | ||
Intangible assets, net (including goodwill) | 1,733 | 1,707 | 1,718 | 1,671 | 1,655 | 1,642 | 1,537 | ||
Goodwill | 1,482 | 1,432 | 1,413 | 1,348 | 1,307 | 1,268 | 1,148 | ||
Intangible assets, net (excluding goodwill) | 251 | 275 | 305 | 323 | 349 | 375 | 389 | ||
Other noncurrent assets | 72 | 49 | 47 | 63 | 46 | 33 | 31 | ||
Total noncurrent assets: | 3,100 | 3,102 | 3,102 | 2,330 | 2,276 | 2,205 | 1,998 | ||
TOTAL ASSETS: | 3,640 | 3,727 | 3,330 | 2,524 | 2,469 | 2,359 | 2,151 | ||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities, including: | 197 | 195 | 167 | 154 | 133 | 125 | 115 | ||
Accounts payable | 9 | 30 | 32 | 36 | 32 | 26 | 27 | ||
Accrued liabilities | 76 | 75 | 54 | 44 | 41 | 34 | 37 | ||
Employee-related liabilities | 102 | 90 | 77 | 68 | 57 | 59 | 47 | ||
Taxes payable | 1 | 3 | 2 | ||||||
Interest and dividends payable | 0 | 3 | 1 | ||||||
Other undisclosed accounts payable and accrued liabilities | 11 | 5 | 6 | 3 | 0 | 2 | |||
Deferred revenue | 258 | 198 | 191 | ✕ | ✕ | ✕ | ✕ | ||
Debt | 16 | 23 | 94 | 29 | 29 | 22 | 20 | ||
Deferred compensation liability | 1 | 1 | |||||||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 156 | 147 | 137 | ||
Contract with customer, liability | ✕ | ✕ | ✕ | 170 | ✕ | ✕ | ✕ | ||
Other liabilities | 63 | 40 | 31 | 30 | 34 | 29 | 20 | ||
Other undisclosed current liabilities | 86 | 74 | 100 | 109 | 65 | 13 | |||
Total current liabilities: | 622 | 531 | 483 | 484 | 461 | 388 | 305 | ||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 1,680 | 1,750 | 1,714 | 1,037 | 1,046 | 1,054 | 906 | ||
Long-term debt, excluding current maturities | 976 | 1,020 | 1,028 | 1,037 | 1,046 | 1,054 | 906 | ||
Operating lease, liability | 704 | 730 | 686 | ✕ | ✕ | ✕ | ✕ | ||
Liabilities, other than long-term debt | 158 | 162 | 162 | 153 | 139 | 118 | 99 | ||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | 75 | 66 | 55 | ||
Deferred revenue | 10 | 10 | 10 | ✕ | ✕ | ✕ | ✕ | ||
Contract with customer, liability | ✕ | ✕ | ✕ | 6 | ✕ | ✕ | ✕ | ||
Deferred rent credit | 72 | ✕ | ✕ | ✕ | |||||
Deferred income tax liabilities | 49 | 46 | 59 | ✕ | ✕ | ✕ | ✕ | ||
Other liabilities | 100 | 106 | 93 | 75 | 64 | 52 | 44 | ||
Other undisclosed noncurrent liabilities | 71 | 74 | 112 | 113 | |||||
Total noncurrent liabilities: | 1,839 | 1,912 | 1,876 | 1,261 | 1,259 | 1,284 | 1,118 | ||
Total liabilities: | 2,461 | 2,443 | 2,359 | 1,745 | 1,720 | 1,671 | 1,423 | ||
Stockholders' equity | |||||||||
Stockholders' equity attributable to parent | 1,179 | 1,284 | 971 | 779 | 749 | 688 | 728 | ||
Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
Additional paid in capital | 746 | 910 | 648 | 649 | 747 | 899 | 983 | ||
Accumulated other comprehensive loss | (37) | (27) | (50) | (62) | (33) | (89) | (39) | ||
Retained earnings (accumulated deficit) | 471 | 401 | 374 | 193 | 35 | (122) | (217) | ||
Total stockholders' equity: | 1,179 | 1,284 | 971 | 779 | 749 | 688 | 728 | ||
TOTAL LIABILITIES AND EQUITY: | 3,640 | 3,727 | 3,330 | 2,524 | 2,469 | 2,359 | 2,151 |
Income statement (P&L) ($ in millions)
12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
---|---|---|---|---|---|---|---|---|
Revenues | 1,755 | 1,515 | 2,062 | 1,903 | 1,741 | 1,570 | 1,458 | |
Cost of revenue | (1,340) | (1,211) | (1,539) | (1,430) | (1,310) | (1,179) | (1,101) | |
Gross profit: | 415 | 305 | 523 | 473 | 431 | 391 | 358 | |
Operating expenses | (286) | (251) | (255) | (234) | (222) | (194) | (176) | |
Other operating expense, net (Other Expenses) | (4) | |||||||
Operating income: | 129 | 53 | 268 | 239 | 205 | 197 | 182 | |
Nonoperating income (Investment Income, Nonoperating) | 0 | 0 | ||||||
Interest and debt expense | (3) | (0) | (0) | (48) | (44) | (54) | (42) | |
Other undisclosed loss from continuing operations before equity method investments, income taxes | (37) | (45) | ||||||
Income from continuing operations before equity method investments, income taxes: | 126 | 16 | 223 | 192 | 161 | 143 | 140 | |
Other undisclosed loss from continuing operations before income taxes | (36) | |||||||
Income from continuing operations before income taxes: | 90 | 16 | 223 | 192 | 161 | 143 | 140 | |
Income tax expense (benefit) | (20) | 11 | (42) | (34) | (4) | (48) | (46) | |
Net income attributable to parent: | 70 | 27 | 180 | 158 | 157 | 95 | 94 | |
Undistributed earnings (loss) allocated to participating securities, basic | (0) | 0 | 1 | 1 | 1 | ✕ | ✕ | |
Other undisclosed net loss available to common stockholders, basic | (0) | (2) | (2) | (2) | (1) | (1) | ||
Net income available to common stockholders, basic: | 70 | 27 | 180 | 157 | 156 | 94 | 93 | |
Other undisclosed net income available to common stockholders, diluted | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income available to common stockholders, diluted: | 70 | 27 | 180 | 157 | 156 | 94 | 93 |
Comprehensive Income ($ in millions)
12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||
---|---|---|---|---|---|---|---|---|
Net income: | 70 | 27 | 180 | 158 | 157 | 95 | 94 | |
Other comprehensive income (loss) | (2) | 12 | (29) | 56 | (50) | (18) | ||
Comprehensive income: | 70 | 25 | 192 | 129 | 213 | 45 | 76 | |
Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (10) | 25 | ||||||
Comprehensive income, net of tax, attributable to parent: | 60 | 50 | 192 | 129 | 213 | 45 | 76 |
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.