Lincoln Educational Services Corporation (LINC) financial statements (2020 and earlier)

Company profile

Business Address 200 EXECUTIVE DRIVE
WEST ORANGE, NJ 07052
State of Incorp. NJ
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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24181521381213
Cash and cash equivalents24181521381213
Receivables21191610101416
Inventory, net of allowances, customer advances and progress billings2121112
Inventory2121112
Prepaid expense000001 
Deferred costs     01
Disposal group, including discontinued operation  3254651 
Prepaid expense and other current assets3
Assets held-for-sale6
Other undisclosed current assets419109103462
Total current assets:50574566105113104
Noncurrent Assets
Operating lease, right-of-use asset49
Property, plant and equipment4949   70127
Long-term investments and receivables151296567
Accounts and financing receivable, after allowance for credit loss151296567
Intangible assets, net (including goodwill)15151515152364
Goodwill15151515152262
Intangible assets, net (excluding goodwill)     12
Restricted cash and investments1512332015  
Other noncurrent assets111112 
Prepaid expense and other noncurrent assets4
Assets held-for-sale, long lived6
Deferred tax assets, net00   (5)
Other undisclosed noncurrent assets    3(71)(130)
Total noncurrent assets:144895841393175
Other undisclosed assets  53556770127
TOTAL ASSETS:195146155163210214306
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities22252227252625
Accounts payable15141114131215
Accrued liabilities8111213121411
Deferred revenue23
Debt1115 1210300
Disposal group, including discontinued operation   1214  
Deferred revenue and credits2518212630
Contract with customer, liability23
Other liabilities0211111
Total current liabilities:57654768718357
Noncurrent Liabilities
Long-term debt and lease obligation, including:32345330483590
Long-term debt, excluding current maturities3234533035  
Capital lease obligations   425 
Operating lease, liability46
Other undisclosed long-term debt and lease obligation(46)   101090
Liabilities, other than long-term debt489510137
Pension and other postretirement defined benefit plans, liabilities2
Accounts payable and accrued liabilities 34447 
Deferred tax liabilities, net     5
Deferred income tax liabilities0
Liability, pension and other postretirement and postemployment benefits444 65
Other liabilities0011 01
Other undisclosed noncurrent liabilities460 5  8
Total noncurrent liabilities:824262405847104
Total liabilities:140106109108129131161
Stockholders' equity
Stockholders' equity attributable to parent, including:434046558183145
Treasury stock, value(83)(83)(83)(83)(83)(83)(83)
Additional paid in capital30292929272624
Accumulated other comprehensive loss(3)(4)(5)(6)(7)(7)(4)
Retained earnings (accumulated deficit)(42)(44)(38)(26)2666
Other undisclosed stockholders' equity attributable to parent141141141141141141141
Other undisclosed stockholders' equity12      
Total stockholders' equity:554046558183145
TOTAL LIABILITIES AND EQUITY:195146155163210214306

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues273263262197193325345
Revenue, net262197193325345
Cost of revenue(123)(125)(129)(95)(92)(166)(174)
Cost of goods and services sold(123)(125)(129)(95)(92)(164)(173)
Gross profit:150138132102101159171
Operating expenses(145)(142)(137)(107)(100)(224)(197)
Other undisclosed operating income     1617
Operating income (loss):5(4)(5)(5)1(49)(10)
Nonoperating income0007400
Investment income, nonoperating0000000
Other nonoperating income   7400
Interest and debt expense(3)(2)(7)(6)(7)(6)(5)
Income (loss) from continuing operations before income taxes:2(6)(12)(4)(2)(54)(14)
Income tax expense (benefit)(0)(0)0(0)(0)4(20)
Income (loss) from continuing operations:2(7)(11)(4)(3)(49)(34)
Loss from discontinued operations   (24)(1)(7)(18)
Net income (loss) attributable to parent:2(7)(11)(28)(3)(56)(51)
Other undisclosed net loss available to common stockholders, basic(0)      
Net income (loss) available to common stockholders, diluted:2(7)(11)(28)(3)(56)(51)

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income (loss):2(7)(11)(28)(3)(56)(51)
Comprehensive income (loss):2(7)(11)(28)(3)(56)(51)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent10210(4)3
Comprehensive income (loss), net of tax, attributable to parent:3(6)(10)(27)(3)(60)(48)

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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