K12 Inc (LRN) financial statements (2021 and earlier)
Company profile
| Business Address |
2300 CORPORATE PARK DRIVE HERNDON, VA 20171 |
| State of Incorp. | DE |
| Fiscal Year End | June 30 |
| SIC | 82 - Educational Services (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 TTM | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 258 | 212 | 283 | 231 | 231 | 214 | 196 | ||
| Cash and cash equivalents | 258 | 212 | 283 | 231 | 231 | 214 | 196 | ||
| Receivables | 435 | 236 | 192 | 176 | 192 | 170 | 188 | ||
| Inventory, net of allowances, customer advances and progress billings | 29 | 28 | 30 | 31 | 31 | 31 | 30 | ||
| Inventory | 29 | 28 | 30 | 31 | 31 | 31 | 30 | ||
| Prepaid expense | 22 | 13 | 13 | 10 | 8 | 10 | 11 | ||
| Deferred tax assets | ✕ | ✕ | 9 | ||||||
| Other current assets | 25 | 11 | 12 | 10 | 12 | 22 | 25 | ||
| Total current assets: | 768 | 501 | 530 | 459 | 474 | 446 | 459 | ||
| Noncurrent Assets | |||||||||
| Inventory, Noncurrent | 5 | 5 | 4 | ||||||
| Finance lease, right-of-use asset | 53 | 20 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Operating lease, right-of-use asset | 104 | 112 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 39 | 32 | 29 | 26 | 28 | 34 | |||
| Intangible assets, net (including goodwill) | 347 | 252 | 105 | 108 | 107 | 110 | 87 | ||
| Goodwill | 241 | 175 | 90 | 90 | 87 | 87 | 66 | ||
| Intangible assets, net (excluding goodwill) | 107 | 77 | 15 | 18 | 20 | 23 | 21 | ||
| Other noncurrent assets | 75 | 72 | 48 | 37 | 6 | 16 | 6 | ||
| Other undisclosed noncurrent assets | 119 | 72 | 100 | 109 | 122 | 133 | 121 | ||
| Total noncurrent assets: | 703 | 572 | 290 | 283 | 262 | 288 | 250 | ||
| TOTAL ASSETS: | 1,472 | 1,073 | 820 | 742 | 735 | 734 | 709 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 123 | 115 | 113 | 80 | 81 | 84 | 69 | ||
| Accounts payable | 39 | 40 | 50 | 29 | 30 | 26 | 30 | ||
| Accrued liabilities | 42 | 27 | 21 | 14 | 22 | 27 | 12 | ||
| Employee-related liabilities | 43 | 47 | 42 | 36 | 29 | 31 | 27 | ||
| Deferred revenue | 63 | 24 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 22 | 134 | 20 | 13 | 12 | 13 | 17 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 23 | 25 | 26 | 25 | ||
| Contract with customer, liability | ✕ | ✕ | 23 | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed current liabilities | 21 | ||||||||
| Total current liabilities: | 229 | 273 | 156 | 116 | 118 | 123 | 111 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 125 | 101 | 5 | 13 | 10 | 10 | 13 | ||
| Finance lease, liability | 38 | 5 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Capital lease obligations | ✕ | ✕ | 5 | 13 | 10 | 10 | 13 | ||
| Operating lease, liability | 87 | 97 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 75 | 23 | 26 | 26 | 32 | 35 | 38 | ||
| Deferred revenue and credits | ✕ | ✕ | ✕ | 3 | 4 | 7 | 8 | ||
| Deferred rent credit | 2 | ✕ | ✕ | ✕ | ✕ | ||||
| Deferred tax liabilities, net | ✕ | ✕ | 17 | 13 | 17 | 18 | 22 | ||
| Deferred income tax liabilities | 35 | 14 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other liabilities | 40 | 10 | 7 | 10 | 12 | 10 | 8 | ||
| Other undisclosed noncurrent liabilities | 292 | ||||||||
| Total noncurrent liabilities: | 491 | 125 | 31 | 39 | 42 | 45 | 51 | ||
| Total liabilities: | 720 | 398 | 186 | 155 | 160 | 168 | 162 | ||
| Temporary equity, carrying amount | 1 | 8 | 10 | ||||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 752 | 675 | 633 | 587 | 574 | 559 | 537 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Treasury stock, value | (102) | (102) | (102) | (102) | (75) | (75) | (75) | ||
| Additional paid in capital | 777 | 731 | 713 | 703 | 690 | 675 | 663 | ||
| Accumulated other comprehensive income (loss) | (0) | 0 | (0) | (0) | (0) | (0) | (1) | ||
| Retained earnings (accumulated deficit) | 78 | 47 | 22 | (13) | (41) | (41) | (50) | ||
| Total stockholders' equity: | 752 | 675 | 633 | 587 | 574 | 559 | 537 | ||
| TOTAL LIABILITIES AND EQUITY: | 1,472 | 1,073 | 820 | 742 | 735 | 734 | 709 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 TTM | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,273 | 1,041 | 1,016 | 918 | 889 | 873 | 948 | |
| Cost of revenue (Cost of Goods and Services Sold) | (844) | (693) | (663) | (592) | (557) | (547) | (959) | |
| Gross profit: | 429 | 348 | 352 | 325 | 331 | 326 | (10) | |
| Operating expenses | (357) | (315) | (307) | (300) | (318) | (312) | (337) | |
| Other undisclosed operating income | 366 | |||||||
| Operating income: | 72 | 32 | 45 | 26 | 13 | 14 | 18 | |
| Nonoperating income (Other Nonoperating income) | 2 | 0 | 0 | |||||
| Interest and debt expense | (1) | (1) | ||||||
| Income from continuing operations before equity method investments, income taxes: | 73 | 32 | 46 | 26 | 13 | 14 | 18 | |
| Loss from equity method investments | (1) | |||||||
| Other undisclosed income (loss) from continuing operations before income taxes | (7) | 2 | 3 | 1 | (8) | (1) | (3) | |
| Income from continuing operations before income taxes: | 66 | 33 | 48 | 27 | 5 | 13 | 15 | |
| Income tax expense (benefit) | (15) | (9) | (11) | 1 | (5) | (5) | (6) | |
| Income (loss) before gain (loss) on sale of properties: | 51 | 25 | 38 | 27 | (0) | 9 | 9 | |
| Other undisclosed net income (loss) | 0 | (0) | (1) | |||||
| Net income (loss): | 51 | 25 | 37 | 27 | (0) | 9 | 9 | |
| Net income attributable to noncontrolling interest | 0 | 1 | 0 | 2 | ||||
| Net income attributable to parent: | 51 | 25 | 37 | 28 | 0 | 9 | 11 | |
| Preferred stock dividends and other adjustments | (3) | |||||||
| Net income (loss) available to common stockholders, diluted: | 51 | 25 | 37 | 28 | (3) | 9 | 11 | |
Comprehensive Income ($ in millions)
| 12/31/2020 TTM | 6/30/2020 | 6/30/2019 | 6/30/2018 | 6/30/2017 | 6/30/2016 | 6/30/2015 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 51 | 25 | 37 | 27 | (0) | 9 | 9 | |
| Other comprehensive income | 8 | |||||||
| Other undisclosed comprehensive income (loss) | 0 | 0 | 0 | (0) | 0 | 1 | ||
| Comprehensive income (loss): | 51 | 25 | 37 | 27 | (0) | 9 | 18 | |
| Comprehensive income, net of tax, attributable to noncontrolling interest | 0 | 1 | 0 | 2 | ||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (0) | (9) | ||||||
| Comprehensive income, net of tax, attributable to parent: | 51 | 25 | 37 | 28 | 1 | 10 | 10 | |
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.