2017 Q1 Form 10-K Financial Statement

#000143757817000006 Filed on March 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q4 2015 Q4
Revenue $422.2M $398.5M $371.6M
YoY Change 9.56% 7.25% 10.02%
Cost Of Revenue $317.2M $299.3M $281.7M
YoY Change 9.56% 6.25% 9.48%
Gross Profit $104.9M $99.22M $89.90M
YoY Change 9.56% 10.36% 11.71%
Gross Profit Margin 24.86% 24.9% 24.19%
Selling, General & Admin $46.15M $43.60M $38.00M
YoY Change 15.28% 14.74% 4.97%
% of Gross Profit 43.98% 43.94% 42.27%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.41M $23.20M $20.20M
YoY Change 14.08% 14.85% 5.76%
% of Gross Profit 22.31% 23.38% 22.47%
Operating Expenses $46.15M $51.90M $45.00M
YoY Change 15.28% 15.33% 4.41%
Operating Profit $51.40M $47.35M $44.88M
YoY Change 5.78% 5.49% 20.24%
Interest Expense $10.77M -$11.40M -$10.70M
YoY Change 0.66% 6.54% 20.22%
% of Operating Profit 20.96% -24.08% -23.84%
Other Income/Expense, Net
YoY Change
Pretax Income $40.63M $24.80M $34.20M
YoY Change 7.17% -27.49% 20.0%
Income Tax -$744.0K $7.700M $10.20M
% Of Pretax Income -1.83% 31.05% 29.82%
Net Earnings $41.37M $17.12M $23.92M
YoY Change 67.32% -28.42% 26.59%
Net Earnings / Revenue 9.8% 4.3% 6.44%
Basic Earnings Per Share $0.69 $0.29 $0.40
Diluted Earnings Per Share $0.68 $0.28 $0.39
COMMON SHARES
Basic Shares Outstanding 59.51M shares 59.50M shares 60.04M shares
Diluted Shares Outstanding 60.90M shares

Balance Sheet

Concept 2017 Q1 2016 Q4 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.50M $14.60M $11.50M
YoY Change -46.52% 26.96% -86.92%
Cash & Equivalents $21.49M $14.63M $11.54M
Short-Term Investments
Other Short-Term Assets $46.90M $42.60M $43.90M
YoY Change 33.24% -2.96% -15.9%
Inventory
Prepaid Expenses
Receivables $98.10M $97.20M $97.30M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $166.5M $154.4M $152.7M
YoY Change 4.26% 1.1% -31.57%
LONG-TERM ASSETS
Property, Plant & Equipment $537.1M $529.4M $429.7M
YoY Change 26.37% 23.2% 7.72%
Goodwill $1.274B $1.268B $1.148B
YoY Change 11.02% 10.45% 4.75%
Intangibles $367.7M $374.6M $389.3M
YoY Change -3.76% -3.79% -4.16%
Long-Term Investments
YoY Change
Other Assets $31.50M $32.92M $30.95M
YoY Change 5.0% 6.34% 88.69%
Total Long-Term Assets $2.210B $2.205B $1.998B
YoY Change 11.37% 10.35% 4.17%
TOTAL ASSETS
Total Short-Term Assets $166.5M $154.4M $152.7M
Total Long-Term Assets $2.210B $2.205B $1.998B
Total Assets $2.376B $2.359B $2.151B
YoY Change 10.84% 9.69% 0.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $135.3M $26.17M $26.94M
YoY Change 13.98% -2.87% 110.76%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $14.90M $76.00M $24.00M
YoY Change 216.67%
Long-Term Debt Due $10.75M $10.75M $9.550M
YoY Change 12.57% 12.57% 0.0%
Total Short-Term Liabilities $356.1M $387.6M $305.3M
YoY Change 18.04% 26.93% 9.28%
LONG-TERM LIABILITIES
Long-Term Debt $1.052B $1.054B $905.7M
YoY Change 16.45% 16.38% -0.65%
Other Long-Term Liabilities $58.23M $52.05M $44.18M
YoY Change 32.71% 17.8% 88.8%
Total Long-Term Liabilities $1.110B $1.106B $949.8M
YoY Change 17.2% 16.45% 1.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $356.1M $387.6M $305.3M
Total Long-Term Liabilities $1.110B $1.106B $949.8M
Total Liabilities $1.650B $1.671B $1.423B
YoY Change 16.56% 17.44% 2.36%
SHAREHOLDERS EQUITY
Retained Earnings -$80.45M -$121.8M -$216.6M
YoY Change -58.07% -43.75% -30.25%
Common Stock $59.00K $59.00K $60.00K
YoY Change -1.67% -1.67% -3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $726.1M $687.9M $727.6M
YoY Change
Total Liabilities & Shareholders Equity $2.376B $2.359B $2.151B
YoY Change 10.84% 9.69% 0.44%

Cashflow Statement

Concept 2017 Q1 2016 Q4 2015 Q4
OPERATING ACTIVITIES
Net Income $41.37M $17.12M $23.92M
YoY Change 67.32% -28.42% 26.59%
Depreciation, Depletion And Amortization $23.41M $23.20M $20.20M
YoY Change 14.08% 14.85% 5.76%
Cash From Operating Activities $106.7M $48.30M $27.80M
YoY Change 24.33% 73.74% -47.55%
INVESTING ACTIVITIES
Capital Expenditures $19.89M -$24.80M -$16.40M
YoY Change 87.03% 51.22% -9.89%
Acquisitions $2.979M
YoY Change 1.57%
Other Investing Activities -$3.000M -$205.2M -$11.00M
YoY Change 3.45% 1765.45% 74.6%
Cash From Investing Activities -$22.87M -$230.0M -$27.30M
YoY Change 68.56% 742.49% 10.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.470M
YoY Change -72.33%
Debt Paid & Issued, Net $2.688M
YoY Change 12.56%
Cash From Financing Activities -$77.05M 176.8M -10.10M
YoY Change 75.83% -1850.5% -79.18%
NET CHANGE
Cash From Operating Activities $106.7M 48.30M 27.80M
Cash From Investing Activities -$22.87M -230.0M -27.30M
Cash From Financing Activities -$77.05M 176.8M -10.10M
Net Change In Cash $6.746M -4.900M -9.600M
YoY Change -76.25% -48.96% -52.24%
FREE CASH FLOW
Cash From Operating Activities $106.7M $48.30M $27.80M
Capital Expenditures $19.89M -$24.80M -$16.40M
Free Cash Flow $86.78M $73.10M $44.20M
YoY Change 15.46% 65.38% -37.92%

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1347000 USD
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1300000 USD
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1620000 USD
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13855000 USD
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1.55
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3200000 USD
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3700000 USD
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CY2014 us-gaap Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options
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12900000 USD
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11600000 USD
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15800000 USD
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9123000 USD
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208352000 USD
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143000 USD
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0 USD
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200000 USD
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100000 USD
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100000 USD
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112314000 USD
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140156000 USD
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143197000 USD
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245000 USD
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319000 USD
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39310000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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49055000 USD
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50119000 USD
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6919000 USD
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6953000 USD
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277000 USD
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CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
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5121000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
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5849000 USD
CY2016 us-gaap Income Tax Reconciliation State And Local Income Taxes
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6374000 USD
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432000 USD
CY2014 us-gaap Income Taxes Paid
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41713000 USD
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49819000 USD
CY2016 us-gaap Income Taxes Paid
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34670000 USD
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9589000 USD
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2955000 USD
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7750000 USD
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3505000 USD
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12773000 USD
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1672000 USD
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319000 USD
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16854000 USD
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3179000 USD
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7289000 USD
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4604000 USD
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13340000 USD
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78000 USD
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43005000 USD
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103000 USD
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163000 USD
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81000 USD
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88700000 USD
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97300000 USD
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103100000 USD
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2150541000 USD
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2359017000 USD
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76000000 USD
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9550000 USD
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10750000 USD
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1021250000 USD
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10750000 USD
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10750000 USD
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10750000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
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10750000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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10750000 USD
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905661000 USD
CY2016Q4 us-gaap Long Term Debt Noncurrent
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10000 USD
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274000 USD
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624000 USD
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0 USD
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26000 USD
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50000 USD
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0 USD
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0 USD
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0 USD
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353000 USD
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443000 USD
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0 USD
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353000 USD
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0 USD
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831000 USD
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663000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
0 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
1100000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67244172 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62360778 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60594895 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65612572 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60835574 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59229069 shares
CY2016 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentrations of Credit Risk</font><font style="font-family:inherit;font-size:10pt;">&#8212;Financial instruments that potentially expose the Company to concentrations of credit risk consist mainly of cash and cash equivalents and accounts receivable. The Company mitigates its exposure by maintaining its cash and cash equivalents in financial institutions of high credit standing. The Company&#8217;s accounts receivable, which are derived primarily from the services it provides, are dispersed across many clients in various industries with </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> single client accounting for more than </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s net revenue or accounts receivable. </font></div></div>
CY2016 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Deferred Revenue</font><font style="font-family:inherit;font-size:10pt;">&#8212;The Company records deferred revenue for prepaid tuition and management fees and amounts received from consulting projects in advance of services being performed. The Company is also a party to agreements where the performance of services extends beyond one year. In these circumstances, the Company records a long-term obligation and recognizes revenue over the period of the agreement as the services are rendered.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:8px;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font><font style="font-family:inherit;font-size:10pt;">&#8212;The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, as well as the reported amounts of revenue and expenses during the reporting period. The Company&#8217;s significant accounting estimates in the preparation of the consolidated financial statements relate to the valuation of goodwill and other intangibles, and income taxes. Actual results may differ from management&#8217;s estimates.</font></div></div>

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bfam-20161231.xml Edgar Link completed
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