Houghton Mifflin Harcourt Company (HMHC) financial statements (2021 and earlier)

Company profile

Business Address 125 HIGH STREET
BOSTON, MA 02110
State of Incorp. DE
Fiscal Year End December 31
SIC 2731 - Books: Publishing, or Publishing and Printing (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 investments281296303235307432743
Cash and cash equivalents281296253149226234457
Short-term investments  508681198287
Receivables153184204201216256256
Inventory, net of allowances, customer advances and progress billings167213184155162171184
Inventory167213184155162171184
Other undisclosed current assets20191530202339
Total current assets:6217137066217068831,222
Noncurrent Assets
Finance lease, right-of-use asset00
Operating lease, right-of-use asset127132
Property, plant and equipment93100126154175150138
Long-term investments and receivables4      
Long-term investments4      
Intangible assets, net (including goodwill), including:8671,1915216116861,6962,436
Goodwill438717716783783783533
Intangible assets, net (excluding goodwill)429474(908)(758)(606)(291)3,238
Other undisclosed intangible assets, net (including goodwill)  7135865091,204(1,335)
Advance royalties42454846444547
Deferred income tax assets2 
Other noncurrent assets35312820203828
Deferred tax assets, net34344
Other undisclosed noncurrent assets2293001,0621,1081,098322(864)
Total noncurrent assets:1,4001,8001,7891,9422,0262,2541,789
TOTAL ASSETS:2,0212,5132,4952,5642,7313,1373,011
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities138185197193194230191
Accounts payable49527662769451
Accrued liabilities51736773728680
Employee-related liabilities27575358454960
Interest and dividends payable11400000
Deferred revenue343305
Debt1928888868
Restructuring reserve2012     
Deferred revenue and credits275273231157
Other liabilities25242723243527
Other undisclosed current liabilities8 2565738
Total current liabilities:552555488504505507451
Noncurrent Liabilities
Long-term debt and lease obligation757773756760765784176
Long-term debt, excluding current maturities625638756760765784176
Operating lease, liability132135
Liabilities, other than long-term debt35215861116183237
Deferred tax liabilities, net272271140112
Deferred income tax liabilities16 
Liability, pension and other postretirement and postemployment benefits17151420222427
Other liabilities261718222098
Other undisclosed noncurrent liabilities587597425443466464389
Total noncurrent liabilities:1,3791,3921,2391,2641,3461,432801
Total liabilities:1,9311,9471,7271,7681,8511,9391,251
Stockholders' equity
Stockholders' equity attributable to parent905667687958801,1981,760
Common stock2111111
Treasury stock, value(518)(518)(518)(518)(518)(463) 
Additional paid in capital4,9194,9064,8934,8804,8684,8334,785
Accumulated other comprehensive loss(56)(47)(45)(47)(53)(40)(27)
Accumulated deficit(4,256)(3,776)(3,563)(3,522)(3,418)(3,134)(3,000)
Total stockholders' equity:905667687958801,1981,760
TOTAL LIABILITIES AND EQUITY:2,0212,5132,4952,5642,7313,1373,011

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
Revenues1,0311,3911,3221,4081,3731,4161,372
Revenue, net1,4081,3731,4161,372
Cost of revenue
(Cost of Goods and Services Sold)
(644)(844)(725)(790)(802)(824)(824)
Gross profit:387546597617570592548
Operating expenses(512)(684)(654)(699)(854)(686)(941)
Other undisclosed operating income (loss)(305)(25)(34)(31)(27)(22)308
Operating loss:(429)(163)(91)(114)(311)(116)(85)
Nonoperating income (expense)2(1)(0)1(1)(2)(2)
Investment income, nonoperating3(1)(1)1(1)(2)(2)
Net periodic defined benefits expense (reversal of expense), excluding service cost component(1)01
Interest and debt expense(66)(53)(46)(43)(39)(35)(18)
Other undisclosed income from continuing operations before equity method investments, income taxes1741   
Loss from continuing operations before income taxes:(492)(210)(132)(154)(350)(154)(105)
Income tax expense (benefit)12(4)(6)506520(6)
Loss from continuing operations:(480)(214)(137)(103)(285)(134)(111)
Income from discontinued operations  43    
Net loss available to common stockholders, diluted:(480)(214)(94)(103)(285)(134)(111)

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 loss:(480)(214)(94)(103)(285)(134)(111)
Other comprehensive income (loss)(8)(2)17(14)(13)(13)
Comprehensive loss, net of tax, attributable to parent:(488)(216)(93)(96)(298)(147)(125)

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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