Grand Canyon Education, Inc. (LOPE) Financial Statements (2024 and earlier)

Company Profile

Business Address 2600 W. CAMELBACK ROAD
PHOENIX, AZ 85017
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

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 investments181,704600,941245,769122,272189,348153,474
Cash and cash equivalents120,409600,941245,769122,272120,346153,474
Short-term investments61,295   69,002 
Restricted cash and investments    30061,66794,534
Receivables80,20171,33863,77751,24346,83812,994
Deferred tax assets1,871 
Other current assets11,3688,7668,6398,0356,96324,589
Other undisclosed current assets   15,55726,4942,77989,271
Total current assets:273,273681,045333,742208,344309,466374,862
Noncurrent Assets
Operating lease, right-of-use asset72,71957,65261,02027,770
Property, plant and equipment147,504136,120128,657119,734111,039922,284
Long-term investments and receivables   964,912969,912900,093 
Accounts and financing receivable, after allowance for credit loss   964,912969,912900,093 
Intangible assets, net (including goodwill)337,566345,985354,404362,8232,9412,941
Goodwill160,766160,766160,766160,7662,9412,941
Intangible assets, net (excluding goodwill)176,800185,219193,638202,057  
Other noncurrent assets1,6871,9431,8441,706478723
Other undisclosed noncurrent assets      2,763
Total noncurrent assets:559,476541,7001,510,8371,481,9451,014,551928,711
TOTAL ASSETS:832,7491,222,7451,844,5791,690,2891,324,0171,303,573
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities42,47990,50878,18158,98244,05089,251
Taxes payable5,8955,4056,5765,44216,182
Employee-related liabilities32,71434,24820,80015,42723,173
Accounts payable20,00624,30616,58314,83514,27429,139
Accrued liabilities22,47327,59321,94516,7718,90720,757
Deferred revenue 10 20
Debt   33,14436,22836,4686,691
Liability for uncertainty in income taxes 15,862     
Deferred revenue and credits46,895
Customer advances and deposits95,298
Other undisclosed current liabilities41,3657,4267,393   
Total current liabilities:99,70697,944118,71895,23080,518238,135
Noncurrent Liabilities
Long-term debt and lease obligation  53,755131,241133,29323,43759,925
Long-term debt, excluding current maturities   74,630107,77423,43759,925
Liabilities, other than long-term debt95,42425,99920,29118,3336,46519,562
Deferred tax liabilities, net6,46518,362
Deferred income tax liabilities26,19525,96220,28818,320
Other liabilities43637313 1,200
Operating lease, liability68,79353,75556,61125,519
Total noncurrent liabilities:95,42479,754151,532151,62629,90279,487
Total liabilities:195,130177,698270,250246,856110,420317,622
Equity
Equity, attributable to parent637,6191,045,0471,574,3291,443,4331,213,597985,951
Common stock538536533531527523
Treasury stock, value(1,711,423)(1,107,211)(303,379)(169,365)(125,452)(100,694)
Additional paid in capital309,310296,670282,467270,923256,806232,670
Accumulated other comprehensive loss(533)   (453)(724)
Retained earnings2,039,7271,855,0521,594,7081,341,3441,082,169854,176
Total equity:637,6191,045,0471,574,3291,443,4331,213,597985,951
TOTAL LIABILITIES AND EQUITY:832,7491,222,7451,844,5791,690,2891,324,0171,303,573

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues911,306896,564844,096778,643845,501974,134
Revenue, net974,134
Cost of revenue(423,806)(386,257)(350,546)(318,076)(395,622)(466,678)
Gross profit:487,500510,307493,550460,567449,879507,456
Operating expenses(250,000)(228,117)(216,113)(195,436)(191,730)(224,702)
Operating income:237,500282,190277,437265,131258,149282,754
Nonoperating income
(Investment Income, Nonoperating)
2,6216109154,3853,440 
Interest and debt expense(2)(3,601)(4,402)(11,311)(1,536)(2,169)
Income from continuing operations before equity method investments, income taxes:240,119279,199273,950258,205260,053280,585
Other undisclosed income from continuing operations before income taxes  52,09059,19059,29726,9472,943
Income from continuing operations before income taxes:240,119331,289333,140317,502287,000283,528
Income tax expense(55,444)(70,945)(75,944)(58,327)(57,989)(80,209)
Income from continuing operations:184,675260,344257,196259,175229,011203,319
Income before gain (loss) on sale of properties:260,344257,196259,175229,011203,319
Net income available to common stockholders, diluted:184,675260,344257,196259,175229,011203,319

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:184,675260,344257,196259,175229,011203,319
Comprehensive income:184,675260,344257,196259,175229,011203,319
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(533)  453427186
Comprehensive income, net of tax, attributable to parent:184,142260,344257,196259,628229,438203,505

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.

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