Virtusa Corporation (VRTU) financial statements (2020 and earlier)
Company profile
| Business Address |
132 TURNPIKE RD SOUTHBOROUGH, MA 01772 |
| State of Incorp. | DE |
| Fiscal Year End | March 31 |
| SIC | 7371 - Computer Programming Services (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2019 TTM | 3/31/2019 | 3/31/2018 | 3/31/2017 | 3/31/2016 | 3/31/2015 | 3/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 237 | 223 | 241 | 217 | 203 | 215 | 139 | ||
| Cash and cash equivalents | 217 | 190 | 195 | 145 | 149 | 125 | 83 | ||
| Short-term investments | 20 | 33 | 46 | 72 | 54 | 90 | 56 | ||
| Restricted cash and investments | 2 | 0 | 0 | 0 | 94 | 0 | |||
| Receivables | 150 | 162 | 151 | 135 | 139 | 75 | 65 | ||
| Prepaid expense | 44 | 42 | 32 | 33 | 12 | 7 | 9 | ||
| Assets held-for-sale, not part of disposal group | 9 | 9 | ✕ | ✕ | |||||
| Other current assets | 32 | 30 | 21 | 29 | 23 | 14 | 12 | ||
| Other undisclosed current assets | 107 | 113 | 104 | 66 | 58 | 36 | 36 | ||
| Total current assets: | 581 | 580 | 549 | 480 | 529 | 347 | 260 | ||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 51 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 108 | 120 | 122 | 119 | 116 | 38 | 35 | ||
| Long-term investments and receivables | 1 | 0 | 4 | 20 | 29 | 21 | 62 | ||
| Long-term investments | 1 | 0 | 4 | 20 | 29 | 21 | 62 | ||
| Intangible assets, net (including goodwill) | 376 | 372 | 393 | 269 | 267 | 72 | 82 | ||
| Goodwill | 276 | 280 | 297 | 211 | 200 | 50 | 53 | ||
| Intangible assets, net (excluding goodwill) | 100 | 92 | 96 | 58 | 67 | 22 | 29 | ||
| Restricted cash and investments | 0 | ||||||||
| Deferred income tax assets | 31 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other noncurrent assets | 38 | 30 | 12 | 10 | 20 | 7 | 5 | ||
| Deferred tax assets, net | ✕ | 16 | |||||||
| Other undisclosed noncurrent assets | 0 | 30 | 33 | 25 | 3 | 5 | 5 | ||
| Total noncurrent assets: | 605 | 552 | 564 | 443 | 451 | 142 | 189 | ||
| TOTAL ASSETS: | 1,186 | 1,132 | 1,113 | 923 | 980 | 490 | 449 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 181 | 191 | 192 | 106 | 124 | 64 | 69 | ||
| Accounts payable | 31 | 46 | 30 | 21 | 27 | 9 | 11 | ||
| Accrued liabilities | 66 | 70 | 91 | 33 | 43 | 24 | 27 | ||
| Employee-related liabilities | 79 | 75 | 72 | 53 | 54 | 27 | 27 | ||
| Taxes payable | 7 | 4 | 4 | ||||||
| Deferred revenue | 7 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Debt | 26 | 11 | 11 | 9 | 9 | 0 | 0 | ||
| Derivative instruments and hedges, liabilities | 1 | 4 | |||||||
| Deferred revenue and credits | ✕ | ✕ | 8 | 7 | 6 | ||||
| Contract with customer, liability | ✕ | 6 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other undisclosed current liabilities | 5 | 5 | 3 | 2 | (4) | (7) | |||
| Total current liabilities: | 214 | 214 | 217 | 126 | 141 | 61 | 67 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 419 | 351 | 288 | 177 | 186 | 0 | 0 | ||
| Long-term debt, excluding current maturities | 375 | 351 | 288 | 177 | 186 | ||||
| Capital lease obligations | ✕ | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Operating lease, liability | 44 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt, including: | 42 | 30 | 44 | 9 | 9 | 2 | 3 | ||
| Deferred tax liabilities, net | ✕ | 16 | 2 | 3 | |||||
| Deferred income tax liabilities | 15 | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other liabilities | 27 | ||||||||
| Other undisclosed liabilities, other than long-term debt | 30 | 44 | 9 | (7) | |||||
| Other undisclosed noncurrent liabilities | 16 | 21 | 27 | 16 | 1 | 3 | |||
| Total noncurrent liabilities: | 461 | 397 | 353 | 213 | 211 | 3 | 6 | ||
| Other undisclosed liabilities | 2 | 3 | |||||||
| Total liabilities: | 675 | 611 | 570 | 338 | 352 | 66 | 75 | ||
| Temporary equity, carrying amount | 107 | 131 | 107 | ||||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 403 | 391 | 419 | 497 | 475 | 424 | 374 | ||
| Common stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Treasury stock, value | (40) | (40) | (10) | (10) | (10) | (10) | |||
| Additional paid in capital | 256 | 239 | 261 | 305 | 298 | 283 | 270 | ||
| Accumulated other comprehensive loss | (68) | (59) | (41) | (40) | (42) | (34) | (28) | ||
| Retained earnings | 273 | 250 | 238 | 241 | 229 | 184 | 142 | ||
| Other undisclosed stockholders' equity attributable to parent | (58) | ||||||||
| Stockholders' equity attributable to noncontrolling interest | 17 | 88 | 153 | ||||||
| Total stockholders' equity: | 403 | 391 | 436 | 585 | 628 | 424 | 374 | ||
| TOTAL LIABILITIES AND EQUITY: | 1,186 | 1,132 | 1,113 | 923 | 980 | 490 | 449 | ||
Income statement (P&L) ($ in millions)
| 12/31/2019 TTM | 3/31/2019 | 3/31/2018 | 3/31/2017 | 3/31/2016 | 3/31/2015 | 3/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 1,310 | 1,248 | 1,021 | 859 | 600 | 479 | 397 | |
| Cost of revenue | (940) | (885) | (725) | (621) | (389) | (304) | (251) | |
| Gross profit: | 370 | 363 | 295 | 238 | 211 | 175 | 146 | |
| Operating expenses | (284) | (293) | (249) | (219) | (166) | (126) | (108) | |
| Other undisclosed operating income | 4 | 4 | ||||||
| Operating income: | 86 | 70 | 46 | 18 | 45 | 53 | 42 | |
| Nonoperating income (expense) | (27) | (32) | (5) | 0 | 12 | 5 | 4 | |
| Investment income, nonoperating | 2 | 3 | 4 | 5 | 5 | 4 | ||
| Foreign currency transaction gain (loss), before tax | (7) | (13) | (4) | 3 | 7 | (0) | (0) | |
| Other nonoperating income (expense) | (3) | (3) | 2 | 1 | 1 | (0) | 0 | |
| Interest and debt expense | (19) | (18) | (8) | (1) | (0) | |||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 0 | |||||||
| Income from continuing operations before equity method investments, income taxes: | 40 | 20 | 34 | 18 | 58 | 57 | 46 | |
| Other undisclosed income from continuing operations before income taxes | 19 | 18 | 8 | 1 | ||||
| Income from continuing operations before income taxes: | 59 | 38 | 42 | 19 | 58 | 57 | 46 | |
| Income tax expense | (25) | (20) | (33) | (3) | (13) | (15) | (12) | |
| Net income: | 35 | 18 | 9 | 16 | 45 | 42 | 34 | |
| Net loss attributable to noncontrolling interest | (1) | (2) | (8) | (4) | (0) | |||
| Net income attributable to parent: | 34 | 16 | 1 | 12 | 45 | 42 | 34 | |
| Other undisclosed net loss available to common stockholders, basic | (4) | (4) | (4) | |||||
| Net income (loss) available to common stockholders, basic: | 30 | 12 | (3) | 12 | 45 | 42 | 34 | |
| Other undisclosed net income available to common stockholders, diluted | 1 | |||||||
| Net income (loss) available to common stockholders, diluted: | 31 | 12 | (3) | 12 | 45 | 42 | 34 | |
Comprehensive Income ($ in millions)
| 12/31/2019 TTM | 3/31/2019 | 3/31/2018 | 3/31/2017 | 3/31/2016 | 3/31/2015 | 3/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 35 | 18 | 9 | 16 | 45 | 42 | 34 | |
| Other comprehensive income (loss) | (7) | (20) | (3) | 4 | (7) | |||
| Other undisclosed comprehensive income | 0 | 0 | ||||||
| Comprehensive income (loss): | 28 | (2) | 6 | 20 | 38 | 42 | 34 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (1) | (0) | (10) | (6) | (1) | |||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | (6) | (9) | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | 27 | (3) | (4) | 14 | 37 | 36 | 25 | |
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.