Bright Horizons Family Solutions Inc. (BFAM) Financial Statements (2024 and earlier)
Company Profile
Business Address |
2 WELLS AVENUE NEWTON, MA 02459 |
State of Incorp. | |
Fiscal Year End | December 31 |
Industry (SIC) | 8351 - Child Day Care Services (benchmarking) |
More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
9/30/2023 MRQ | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||
Current Assets | |||||||||
Cash, cash equivalents, and short-term investments | 54 | 284 | 406 | 45 | 15 | 23 | |||
Cash and cash equivalents | 36 | 261 | 384 | 28 | 15 | 23 | |||
Short-term investments | 18 | 23 | 21 | 17 | |||||
Restricted cash and investments | 4 | 4 | 4 | 3 | 3 | ||||
Receivables | 217 | 211 | 177 | 149 | 131 | 117 | |||
Prepaid expense | 9 | 6 | 6 | 5 | 5 | 23 | |||
Derivative instruments and hedges, assets | 25 | ||||||||
Other undisclosed current assets | 38 | 35 | 32 | 26 | 39 | 29 | |||
Total current assets: | 348 | 540 | 624 | 229 | 194 | 192 | |||
Noncurrent Assets | |||||||||
Operating lease, right-of-use asset | 802 | 696 | 718 | 701 | ✕ | ✕ | |||
Property, plant and equipment | 571 | 598 | 629 | 636 | 597 | 575 | |||
Intangible assets, net (including goodwill) | 1,973 | 1,733 | 1,707 | 1,718 | 1,671 | 1,655 | |||
Goodwill | 1,728 | 1,482 | 1,432 | 1,413 | 1,348 | 1,307 | |||
Intangible assets, net (excluding goodwill) | 246 | 251 | 275 | 305 | 323 | 349 | |||
Other noncurrent assets | 105 | 72 | 49 | 47 | 63 | 46 | |||
Total noncurrent assets: | 3,451 | 3,100 | 3,102 | 3,102 | 2,330 | 2,276 | |||
TOTAL ASSETS: | 3,799 | 3,640 | 3,727 | 3,330 | 2,524 | 2,469 | |||
LIABILITIES AND EQUITY | |||||||||
Liabilities | |||||||||
Current Liabilities | |||||||||
Accounts payable and accrued liabilities, including: | 231 | 197 | 195 | 167 | 154 | 133 | |||
Interest and dividends payable | ✕ | ✕ | 0 | ||||||
Taxes payable | ✕ | ✕ | 1 | ||||||
Employee-related liabilities | ✕ | ✕ | 102 | 90 | 77 | 68 | 57 | ||
Accounts payable | 25 | 9 | 30 | 32 | 36 | 32 | |||
Accrued liabilities | 175 | 76 | 75 | 54 | 44 | 41 | |||
Other undisclosed accounts payable and accrued liabilities | 31 | 11 | 5 | 6 | 3 | ||||
Deferred revenue | 223 | 258 | 198 | 191 | ✕ | ✕ | |||
Debt | 25 | 16 | 23 | 94 | 29 | 29 | |||
Deferred compensation liability | 1 | 1 | 1 | ||||||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 156 | ||
Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 170 | ✕ | ||
Other liabilities | 139 | 63 | 40 | 31 | 30 | 34 | |||
Other undisclosed current liabilities | 169 | 86 | 74 | 100 | 109 | ||||
Total current liabilities: | 786 | 622 | 531 | 483 | 484 | 461 | |||
Noncurrent Liabilities | |||||||||
Long-term debt and lease obligation | 962 | 1,680 | 1,750 | 1,714 | 1,037 | 1,046 | |||
Long-term debt, excluding current maturities | 962 | 976 | 1,020 | 1,028 | 1,037 | 1,046 | |||
Liabilities, other than long-term debt | 971 | 158 | 162 | 162 | 153 | 139 | |||
Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 75 | ||
Deferred revenue | 9 | 10 | 10 | 10 | ✕ | ✕ | |||
Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | 6 | ✕ | ||
Deferred rent credit | 72 | ✕ | |||||||
Deferred income tax liabilities | 51 | 49 | 46 | 59 | ✕ | ✕ | |||
Other liabilities | 100 | 100 | 106 | 93 | 75 | 64 | |||
Operating lease, liability | 810 | 704 | 730 | 686 | ✕ | ✕ | |||
Other undisclosed noncurrent liabilities | 71 | 74 | |||||||
Total noncurrent liabilities: | 1,932 | 1,839 | 1,912 | 1,876 | 1,261 | 1,259 | |||
Total liabilities: | 2,718 | 2,461 | 2,443 | 2,359 | 1,745 | 1,720 | |||
Equity | |||||||||
Equity, attributable to parent | 1,080 | 1,179 | 1,284 | 971 | 779 | 749 | |||
Common stock | 0 | 0 | 0 | 0 | 0 | 0 | |||
Additional paid in capital | 599 | 746 | 910 | 648 | 649 | 747 | |||
Accumulated other comprehensive loss | (71) | (37) | (27) | (50) | (62) | (33) | |||
Retained earnings | 552 | 471 | 401 | 374 | 193 | 35 | |||
Total equity: | 1,080 | 1,179 | 1,284 | 971 | 779 | 749 | |||
TOTAL LIABILITIES AND EQUITY: | 3,799 | 3,640 | 3,727 | 3,330 | 2,524 | 2,469 |
Income Statement (P&L) ($ in millions)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
---|---|---|---|---|---|---|---|---|
Revenues | 2,020 | 1,755 | 1,515 | 2,062 | 1,903 | 1,741 | ||
Cost of revenue | (1,542) | (1,340) | (1,211) | (1,539) | (1,430) | (1,310) | ||
Gross profit: | 479 | 415 | 305 | 523 | 473 | 431 | ||
Operating expenses | (321) | (286) | (251) | (255) | (234) | (222) | ||
Other operating expense, net (Other Expenses) | (4) | |||||||
Operating income: | 158 | 129 | 53 | 268 | 239 | 205 | ||
Nonoperating income (expense) (loss, Foreign Currency Transaction, before Tax) | (6) | |||||||
Interest and debt expense | (3) | (0) | (0) | (48) | (44) | |||
Other undisclosed loss from continuing operations before equity method investments, income taxes | (37) | (45) | ||||||
Income from continuing operations before equity method investments, income taxes: | 152 | 126 | 16 | 223 | 192 | 161 | ||
Other undisclosed loss from continuing operations before income taxes | (39) | (36) | ||||||
Income from continuing operations before income taxes: | 112 | 90 | 16 | 223 | 192 | 161 | ||
Income tax expense (benefit) | (32) | (20) | 11 | (42) | (34) | (4) | ||
Income from continuing operations: | 81 | 70 | 27 | 180 | 158 | 157 | ||
Income before gain (loss) on sale of properties: | ✕ | ✕ | 70 | 27 | 180 | 158 | 157 | |
Net income attributable to parent: | 81 | 70 | 27 | 180 | 158 | 157 | ||
Undistributed earnings (loss) allocated to participating securities, basic | (0) | (0) | 0 | 1 | 1 | 1 | ||
Other undisclosed net loss available to common stockholders, basic | (0) | (2) | (2) | (2) | ||||
Net income available to common stockholders, basic: | 80 | 70 | 27 | 180 | 157 | 156 | ||
Other undisclosed net income available to common stockholders, diluted | 0 | 0 | 0 | 0 | ||||
Net income available to common stockholders, diluted: | 80 | 70 | 27 | 180 | 157 | 156 |
Comprehensive Income ($ in millions)
9/30/2023 TTM | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
---|---|---|---|---|---|---|---|---|
Net income: | 81 | 70 | 27 | 180 | 158 | 157 | ||
Other comprehensive income (loss) | (2) | 12 | (29) | 56 | ||||
Comprehensive income: | 81 | 70 | 25 | 192 | 129 | 213 | ||
Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (33) | (10) | 25 | |||||
Comprehensive income, net of tax, attributable to parent: | 47 | 60 | 50 | 192 | 129 | 213 |
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.