← LINCOLN EDUCATIONAL SERVICES CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
| Net Income (Loss) Attributable to Parent | ($28.3m) |
($11.5m)
+59.43%
|
($6.5m)
+43.01%
|
$2.0m
+130.79%
|
$48.6m
+2310.17%
|
$34.7m
-28.51%
|
$12.6m
-63.61%
|
$26.0m
+105.77%
|
$9.9m
-61.95%
|
$20.0m
+102.18%
|
— | |
| Net Income (Loss) Available to Common Stockholders, Basic | ($28.3m) |
($11.5m)
+59.43%
|
($6.5m)
+43.01%
|
$1.9m
+129.38%
|
$36.8m
+1814.35%
|
$26.1m
-29.10%
|
$9.2m
-64.71%
|
$26.0m
+182.24%
|
$9.9m
-61.95%
|
$20.0m
+102.18%
|
— | |
| Depreciation, Depletion and Amortization | $11.1m | $8.7m | $8.4m | $8.1m | $7.4m | $7.1m | $6.4m | $6.6m | $11.3m | $19.2m | $23.0m | |
| Amortization of Debt Issuance Costs | $949k | $583k | $369k | $190k | $181k | $136k | $0 | — | $133k | $142k | — | |
| Amortization of Intangible Assets | $100k | — | — | — | — | — | — | — | — | — | — | |
| Depreciation | $10.9m | $8.7m | $8.4m | $8.1m | $7.4m | $7.1m | $6.4m | $6.8m | $12.9m | $20.8m | $23.0m | |
| Deferred Income Tax Expense (Benefit) | $0 | ($424k) | $0 | $153k | ($35.9m) | $11.3m | $1.3m | $1.6m | ($2.2m) | $2.6m | $2.1m | |
| Share-based Payment Arrangement, Noncash Expense | $1.4m | $1.2m | $522k | $679k | $1.7m | $2.9m | $3.1m | $5.9m | $4.6m | $5.5m | $5.7m | |
| Goodwill and Intangible Asset Impairment | $9.9m | — | — | — | — | — | — | $4.2m | $0 | $0 | — | |
| Goodwill, Impairment Loss | — | — | — | — | $0 | $0 | $0 | — | $0 | $0 | $0 | |
| Operating Lease, Impairment Loss | — | — | — | — | — | — | $600k | — | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||||||
| Increase (Decrease) in Accounts Receivable | $15.7m | $15.7m | $23.8m | $26.0m | $37.4m | $26.5m | $48.6m | $45.8m | $66.0m | $53.7m | ($58.8m) | |
| Increase (Decrease) in Inventories | ($201k) | ($30k) | ($206k) | $157k | $786k | $327k | ($103k) | $330k | $184k | $933k | ($94k) | |
| Increase (Decrease) in Accounts Payable | $742k | ($3.2m) | $3.8m | $444k | $856k | ($3.7m) | ($2.0m) | $5.0m | $11.6m | ($9.3m) | ($220k) | |
| Net Cash Provided by (Used in) Operating Activities | ($6.1m) |
($11.3m)
-85.38%
|
($1.7m)
+85.04%
|
$988k
+158.32%
|
$23.5m
+2277.02%
|
$27.4m
+16.87%
|
$882k
-96.79%
|
$25.6m
+2797.73%
|
$29.3m
+14.66%
|
$59.3m
+102.39%
|
$72.3m
+21.82%
|
|
| Cash flows from investing activities: | ||||||||||||
| Payments to Acquire Property, Plant, and Equipment | $3.6m | $4.8m | $4.7m | $5.4m | $5.6m | $7.5m | $9.0m | $40.7m | $56.9m | $86.6m | ($81.4m) | |
| Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | ($223k) | $1.6m | ($537k) | $567k | $81k | $22.5m | $177k | $30.9m | ($2.1m) | $406k | ($413k) | |
| Net Cash Provided by (Used in) Investing Activities | ($2.2m) | $9.9m | ($2.3m) | ($4.8m) | ($5.5m) | $37.8m | ($21.4m) | $7.4m | ($47.0m) | ($86.2m) | ($81.2m) | |
| Cash flows from financing activities: | ||||||||||||
| Repayments of Long-term Debt | $387k | $66.8m | $35.1m | $54.5m | $28.0m | $17.8m | $0 | — | — | $45.0m | ($73.4m) | |
| Proceeds from Issuance of Long-term Debt | — | — | — | $40.0m | $11.0m | $0 | — | — | — | $45.0m | $77.2m | |
| Payments for Repurchase of Common Stock | — | — | — | — | — | — | $9.4m | $891k | $0 | — | — | |
| Payments of Ordinary Dividends, Common Stock | $0 | — | — | — | — | — | — | — | — | — | $0 | |
| Net Cash Provided by (Used in) Financing Activities | ($9.1m) |
($5.1m)
+43.79%
|
($4.6m)
+10.44%
|
($3.5m)
+23.77%
|
($18.6m)
-435.06%
|
($20.0m)
-7.49%
|
($12.5m)
+37.30%
|
($2.9m)
+76.53%
|
($3.3m)
-13.11%
|
($3.9m)
-16.06%
|
($3.0m)
+21.70%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $54.5m | $45.9m | $38.6m | $38.0m | $83.3m | $50.3m | $80.3m | $59.3m | $28.5m | $16.7m | |
| Additional Supplementary Disclosures | ||||||||||||
| Additional Supplementary Disclosures | ||||||||||||
| Supplemental disclosure of cash flow information: | ||||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | $2.8m | $2.0m | $2.2m | $1.1m | $1.5m | $171k | $110k | $2.4m | $3.2m | — | |
| Income Taxes Paid, Net | $87k | $55k | $29k | $219k | $383k | $0 | — | — | $0 | $6.2m | — | |
| Additional Financial Items | ||||||||||||
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | — | — | — | — | ($461k) | — | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | ($991k) | ($850k) | ($601k) | ($691k) | ($585k) | ($640k) | ($81k) | ($106k) | $0 | $0 | — | |
| Gain (Loss) on Disposition of Assets | ($120k) | $1.6m | ($537k) | $567k | $81k | $22.5m | $177k | $30.9m | ($2.1m) | $406k | — | |
| General and Administrative Expense | — | — | — | — | — | — | — | — | $89.4m | $114.3m | — | |
| Goodwill | $14.5m | $14.5m | $14.5m | $14.5m | $14.5m | $14.5m | $14.5m | $10.7m | $10.7m | $10.7m | $0 | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | ($4.5m) | — | — | — | — | — | — | — | — | — | — | |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ($23.8m) | — | — | — | — | — | — | — | — | — | — | |
| Income Tax Expense (Benefit) | $200k | ($274k) | $200k | $268k | ($35.1m) | $12.5m | $3.8m | $9.6m | $4.8m | $6.1m | — | |
| Investment Income, Interest | $155k | $56k | $31k | $8k | $0 | — | $318k | $2.6m | $2.1m | $126k | — | |
| Payments of Financing Costs | $645k | $1.2m | $94k | $975k | — | — | — | — | $456k | $121k | — |