$BFAM
BRIGHT HORIZONS FAMILY SOLUTIONS INC.

2014 Q4 Form 10-Q Financial Statement

#000143757814000108 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $337.8M $335.0M $308.7M
YoY Change 5.82% 8.52% 15.2%
Cost Of Revenue $257.3M $262.1M $240.2M
YoY Change 3.75% 9.14% 15.55%
Gross Profit $80.48M $72.86M $68.51M
YoY Change 13.01% 6.36% 14.0%
Gross Profit Margin 23.83% 21.75% 22.19%
Selling, General & Admin $36.20M $32.86M $33.02M
YoY Change 10.37% -0.49% 19.54%
% of Gross Profit 44.98% 45.09% 48.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.10M $19.30M $18.70M
YoY Change -2.05% 3.21% 48.41%
% of Gross Profit 23.73% 26.49% 27.3%
Operating Expenses $43.10M $32.86M $33.02M
YoY Change 5.64% -0.49% 19.54%
Operating Profit $37.33M $33.05M $27.79M
YoY Change 22.75% 18.92% 9.6%
Interest Expense -$8.900M $8.443M $9.211M
YoY Change -3.26% -8.34% -56.91%
% of Operating Profit -23.84% 25.55% 33.15%
Other Income/Expense, Net
YoY Change
Pretax Income $28.50M $24.65M $18.59M
YoY Change 33.8% 32.58% 362.19%
Income Tax $9.600M $9.272M $3.652M
% Of Pretax Income 33.68% 37.61% 19.64%
Net Earnings $18.89M $15.38M $15.04M
YoY Change -20.42% 2.23% 515.04%
Net Earnings / Revenue 5.59% 4.59% 4.87%
Basic Earnings Per Share $0.29 $0.23 $0.23
Diluted Earnings Per Share $0.28 $0.23 $0.23
COMMON SHARES
Basic Shares Outstanding 65.87M shares 66.09M shares 64.92M shares
Diluted Shares Outstanding 67.64M shares 66.83M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.90M $109.0M $35.00M
YoY Change 196.96% 211.43% -22.39%
Cash & Equivalents $87.89M $109.0M $35.01M
Short-Term Investments
Other Short-Term Assets $52.20M $56.80M $57.20M
YoY Change -8.26% -0.7% 59.78%
Inventory
Prepaid Expenses
Receivables $83.10M $64.70M $55.40M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $223.2M $230.4M $147.7M
YoY Change 35.11% 56.05% 14.56%
LONG-TERM ASSETS
Property, Plant & Equipment $398.9M $398.6M $385.6M
YoY Change 2.06% 3.38% 17.42%
Goodwill $1.096B $1.097B $1.097B
YoY Change -0.05% -0.06%
Intangibles $406.2M $413.5M $444.8M
YoY Change -6.62% -7.05%
Long-Term Investments
YoY Change
Other Assets $16.40M $14.21M $12.08M
YoY Change 9.16% 17.64% 17.29%
Total Long-Term Assets $1.918B $1.923B $1.940B
YoY Change -1.01% -0.86% 9.57%
TOTAL ASSETS
Total Short-Term Assets $223.2M $230.4M $147.7M
Total Long-Term Assets $1.918B $1.923B $1.940B
Total Assets $2.141B $2.154B $2.088B
YoY Change 1.83% 3.16% 9.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.78M $103.8M $109.0M
YoY Change 91.06% -4.77% 808.33%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $20.60M
YoY Change -100.0%
Long-Term Debt Due $9.550M $7.900M $7.900M
YoY Change 20.89% 0.0% 777.78%
Total Short-Term Liabilities $279.4M $237.8M $260.4M
YoY Change 9.54% -8.7% 28.86%
LONG-TERM LIABILITIES
Long-Term Debt $911.6M $752.7M $757.5M
YoY Change 20.53% -0.65% -15.64%
Other Long-Term Liabilities $23.40M $22.44M $19.75M
YoY Change 23.12% 13.58% -60.89%
Total Long-Term Liabilities $935.0M $775.1M $777.3M
YoY Change 20.6% -0.28% -18.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $279.4M $237.8M $260.4M
Total Long-Term Liabilities $935.0M $775.1M $777.3M
Total Liabilities $1.390B $1.201B $1.230B
YoY Change 14.55% -2.31% -6.09%
SHAREHOLDERS EQUITY
Retained Earnings -$310.5M -$329.4M -$406.3M
YoY Change -18.83% -18.92%
Common Stock $62.00K $66.00K $65.00K
YoY Change -4.62% 1.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $751.0M $952.5M $850.0M
YoY Change
Total Liabilities & Shareholders Equity $2.141B $2.154B $2.088B
YoY Change 1.83% 3.16% 9.91%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income $18.89M $15.38M $15.04M
YoY Change -20.42% 2.23% 515.04%
Depreciation, Depletion And Amortization $19.10M $19.30M $18.70M
YoY Change -2.05% 3.21% 48.41%
Cash From Operating Activities $53.00M $16.90M $23.10M
YoY Change 38.74% -26.84% 950.0%
INVESTING ACTIVITIES
Capital Expenditures -$18.20M -$17.30M -$15.50M
YoY Change 27.27% 11.61% -22.89%
Acquisitions
YoY Change
Other Investing Activities -$6.300M $0.00 -$61.10M
YoY Change 0.0% -100.0% -30650.0%
Cash From Investing Activities -$24.60M -$17.20M -$76.60M
YoY Change 19.42% -77.55% 284.92%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.233M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -48.50M -2.100M 24.70M
YoY Change 109.05% -108.5% -6275.0%
NET CHANGE
Cash From Operating Activities 53.00M 16.90M 23.10M
Cash From Investing Activities -24.60M -17.20M -76.60M
Cash From Financing Activities -48.50M -2.100M 24.70M
Net Change In Cash -20.10M -2.400M -28.80M
YoY Change 258.93% -91.67% 59.12%
FREE CASH FLOW
Cash From Operating Activities $53.00M $16.90M $23.10M
Capital Expenditures -$18.20M -$17.30M -$15.50M
Free Cash Flow $71.20M $34.20M $38.60M
YoY Change 35.62% -11.4% 73.09%

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bfam Discountand Issuance Cost
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Fiscal Year Focus
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dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
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dei Entity Central Index Key
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0001437578
CY2014Q4 dei Entity Common Stock Shares Outstanding
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dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
BRIGHT HORIZONS FAMILY SOLUTIONS INC.

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