Houghton Mifflin Harcourt Company (HMHC) financial statements (2022 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)

12/31/2021
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 investments463281296303235307432
Cash and cash equivalents463281296253149226234
Short-term investments   508681198
Receivables135153184204201216256
Inventory, net of allowances, customer advances and progress billings117167213184155162171
Inventory117167213184155162171
Other undisclosed current assets43201915302023
Total current assets:759621713706621706883
Noncurrent Assets
Finance lease, right-of-use asset 00
Operating lease, right-of-use asset111127132
Property, plant and equipment8093100126154175150
Long-term investments and receivables64     
Long-term investments64     
Intangible assets, net (including goodwill), including:7988671,1915216116861,696
Goodwill438438717716783783783
Intangible assets, net (excluding goodwill)360429474(908)(758)(606)(291)
Other undisclosed intangible assets, net (including goodwill)   7135865091,204
Advance royalties 424548464445
Deferred income tax assets52 
Other noncurrent assets35353128202038
Deferred tax assets, net3434
Other undisclosed noncurrent assets1792293001,0621,1081,098322
Total noncurrent assets:1,2151,4001,8001,7891,9422,0262,254
TOTAL ASSETS:1,9742,0212,5132,4952,5642,7313,137
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities139138185197193194230
Accounts payable37495276627694
Accrued liabilities45517367737286
Employee-related liabilities45275753584549
Interest and dividends payable111140000
Deferred revenue358343305
Debt 19288888
Restructuring reserve02012    
Deferred revenue and credits275273231
Other liabilities43252427232435
Other undisclosed current liabilities68 256573
Total current liabilities:546552555488504505507
Noncurrent Liabilities
Long-term debt and lease obligation445757773756760765784
Long-term debt, excluding current maturities318625638756760765784
Operating lease, liability127132135
Liabilities, other than long-term debt3835215861116183
Deferred tax liabilities, net272271140
Deferred income tax liabilities2116 
Liability, pension and other postretirement and postemployment benefits16171514202224
Other liabilities02617182220
Other undisclosed noncurrent liabilities615587597425443466464
Total noncurrent liabilities:1,0981,3791,3921,2391,2641,3461,432
Total liabilities:1,6441,9311,9471,7271,7681,8511,939
Stockholders' equity
Stockholders' equity attributable to parent330905667687958801,198
Common stock2211111
Treasury stock, value(518)(518)(518)(518)(518)(518)(463)
Additional paid in capital4,9314,9194,9064,8934,8804,8684,833
Accumulated other comprehensive loss(42)(56)(47)(45)(47)(53)(40)
Accumulated deficit(4,042)(4,256)(3,776)(3,563)(3,522)(3,418)(3,134)
Total stockholders' equity:330905667687958801,198
TOTAL LIABILITIES AND EQUITY:1,9742,0212,5132,4952,5642,7313,137

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
Revenues1,0511,0311,3911,3221,4081,3731,416
Revenue, net1,4081,3731,416
Cost of revenue
(Cost of Goods and Services Sold)
(518)(644)(844)(725)(790)(802)(824)
Gross profit:533387546597617570592
Operating expenses(454)(512)(684)(654)(699)(854)(686)
Other undisclosed operating loss(30)(305)(25)(34)(31)(27)(22)
Operating income (loss):48(429)(163)(91)(114)(311)(116)
Nonoperating income (expense)02(1)(0)1(1)(2)
Investment income, nonoperating03(1)(1)1(1)(2)
Net periodic defined benefits expense (reversal of expense), excluding service cost component0(1)01
Interest and debt expense(48)(66)(53)(46)(43)(39)(35)
Other undisclosed income from continuing operations before equity method investments, income taxes 1741  
Income (loss) from continuing operations before equity method investments, income taxes:1(492)(210)(132)(154)(350)(154)
Other undisclosed income from continuing operations before income taxes4      
Income (loss) from continuing operations before income taxes:5(492)(210)(132)(154)(350)(154)
Income tax expense (benefit)(3)12(4)(6)506520
Income (loss) from continuing operations:2(480)(214)(137)(103)(285)(134)
Income from discontinued operations212  43   
Net income (loss) available to common stockholders, diluted:214(480)(214)(94)(103)(285)(134)

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 (loss):214(480)(214)(94)(103)(285)(134)
Other comprehensive income (loss)14(8)(2)17(14)(13)
Comprehensive income (loss), net of tax, attributable to parent:227(488)(216)(93)(96)(298)(147)

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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