Career Education Corporation (CECO) financial statements (2021 and earlier)

Company profile

Business Address 231 N. MARTINGALE ROAD
SCHAUMBURG, IL 60173
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 millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments, including:406294229180207232240
Cash and cash equivalents1061093218506794
Short-term investments301185196156148115123
Other undisclosed cash, cash equivalents, and short-term investments  06105023
Restricted cash and investments4     23
Receivables 552919233225
Inventory, net of allowances, customer advances and progress billings1111233
Inventory1111233
Prepaid expense8788141415
Disposal group, including discontinued operation   00077
Other current assets0201132
Other undisclosed current assets4813115(4)
Total current assets:467360269211248289381
Noncurrent Assets
Operating lease, right-of-use asset4550
Property, plant and equipment28263033415873
Long-term investments and receivables1113343
Accounts and financing receivable, after allowance for credit loss1113343
Intangible assets, net (including goodwill)134959595969797
Goodwill118878787878787
Intangible assets, net (excluding goodwill)168889910
Disposal group, including discontinued operation, noncurrent assets 002692
Deferred income tax assets4060
Other noncurrent assets665681719
Other undisclosed noncurrent assets0 8298158138(1)
Total noncurrent assets:254239213236311322193
TOTAL ASSETS:722599482447560611574
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities495755751229088
Accounts payable131299102622
Accrued liabilities12162031692435
Employee-related liabilities23282533413930
Taxes payable1112212
Deferred revenue3525
Debt 12   3810
Liability for uncertainty in income taxes111111 
Estimated litigation liability 7 4   
Disposal group, including discontinued operation 01681366
Deferred revenue and credits23284038
Contract with customer, liability32
Other undisclosed current liabilities19284911 
Total current liabilities:10410497113169193201
Noncurrent Liabilities
Long-term debt and lease obligation4352     
Operating lease, liability4352
Liabilities, other than long-term debt18123038698190
Deferred revenue and credits15314648
Deferred rent credit  13
Disposal group, including discontinued operation, liabilities   16923
Other liabilities18121722322519
Total noncurrent liabilities:62643038698190
Total liabilities:166168127151238273292
Stockholders' equity
Stockholders' equity attributable to parent556431355296322338282
Common stock1111111
Treasury stock, value(246)(227)(221)(217)(216)(216)(215)
Additional paid in capital658639628621613611607
Accumulated other comprehensive income (loss)00(0)(0)(0)(1)(1)
Retained earnings (accumulated deficit)14218(53)(108)(76)(58)(109)
Total stockholders' equity:556431355296322338282
TOTAL LIABILITIES AND EQUITY:722599482447560611574

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues687628581596704847741
Cost of revenue    (48)(21)(9)
Gross profit:687628581596656827732
Operating expenses(544)(541)(510)(562)(689)(919)(805)
Operating income (loss):143867134(32)(92)(73)
Nonoperating income (expense)47321(2)0
Investment income, nonoperating4642111
Other nonoperating income (expense)00010(0)(0)
Interest and debt expense(0)(0)(1)(0)(1)(1)(0)
Other undisclosed income from continuing operations before equity method investments, income taxes      0
Income (loss) from continuing operations before equity method investments, income taxes:147937436(32)(95)(73)
Other undisclosed income from continuing operations before income taxes     1 
Income (loss) from continuing operations before income taxes:147937436(32)(94)(73)
Income tax expense (benefit)(22)(22)(19)(67)17147(4)
Income (loss) from continuing operations:1247055(31)(15)53(76)
Loss from discontinued operations(0)(1)(1)(1)(4)(1)(102)
Income (loss) before gain (loss) on sale of properties:1247055(32)(19)52(178)
Other undisclosed net income001    
Net income (loss):1247055(32)(19)52(178)
Other undisclosed net income attributable to parent   01  
Net income (loss) available to common stockholders, diluted:1247055(32)(19)52(178)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income (loss):1247055(32)(19)52(178)
Other comprehensive income (loss)01(0)01(0) 
Comprehensive income (loss):1247155(32)(19)52(178)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   01 (0)
Comprehensive income (loss), net of tax, attributable to parent:1247155(32)(18)52(179)

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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