Lincoln Educational Services Corporation (LINC)

LINC Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Cash & Equivalents	66.99	75.99	46.07	83.31	38.03	23.64
Short-Term Investments	-	-	14.76	-	-	-
Cash & Short-Term Investments	66.99	75.99	60.83	83.31	38.03	23.64
Cash Growth	-26.14%	24.92%	-26.98%	119.08%	60.83%	34.56%
Receivables	43.58	35.69	37.18	26.16	30.02	20.65
Inventory	2.35	2.95	2.62	2.72	2.39	1.61
Prepaid Expenses	4.09	5.56	4.74	4.88	3.72	4.19
Restricted Cash	-	4.28	4.21	-	-	-
Other Current Assets	2.39	10.2	4.56	4.56	-	0.38
Total Current Assets	119.39	134.66	114.14	121.63	74.16	50.48
Property, Plant & Equipment	193.68	156.58	117.04	114.61	103.58	98.41
Goodwill	10.74	10.74	14.54	14.54	14.54	14.54
Long-Term Deferred Tax Assets	22.8	23.22	22.31	23.71	35.72	-
Long-Term Deferred Charges	0.4	-	-	-	-	-
Other Long-Term Assets	19.37	20.05	23.55	20.82	17.2	31.34
Total Assets	366.38	345.25	291.57	295.3	245.19	194.76
Accounts Payable	19	18.15	10.5	12.3	15.68	14.58
Accrued Expenses	11.61	13.68	8.65	15.67	16.69	7.87
Current Portion of Long-Term Debt	-	-	-	-	2	2
Current Portion of Leases	11.95	11.81	9.63	11.48	8.5	9.14
Current Income Taxes Payable	-	2.83	2.06	1.02	0.49	-
Current Unearned Revenue	24.33	26.91	24.15	25.41	-	-
Other Current Liabilities	-	0.03	0.03	0.02	23.48	23.61
Total Current Liabilities	66.89	73.41	55.02	65.88	66.84	57.21
Long-Term Debt	-	-	-	-	15.91	32.13
Long-Term Leases	134.63	104.98	91	86.41	52.7	46.02
Long-Term Deferred Tax Liabilities	-	-	-	-	-	0.15
Other Long-Term Liabilities	-	0.06	-	-	2.43	0.11
Total Liabilities	201.52	178.45	146.69	153.9	142.14	139.63
Common Stock	48.18	48.18	49.07	141.38	141.38	141.38
Additional Paid-In Capital	48.33	49.38	45.54	32.44	30.51	30.15
Retained Earnings	68.38	69.28	51.23	39.7	6.2	-42.06
Treasury Stock	-	-	-	-82.86	-82.86	-82.86
Comprehensive Income & Other	-0.04	-0.04	-0.96	-1.24	-4.17	-3.46
Total Common Equity	164.86	166.8	144.88	129.42	91.07	43.15
Shareholders' Equity	164.86	166.8	144.88	141.4	103.05	55.13
Total Liabilities & Equity	366.38	345.25	291.57	295.3	245.19	194.76
Total Debt	146.58	116.79	100.63	97.89	79.12	89.29
Net Cash (Debt)	-79.6	-40.79	-39.8	-14.58	-41.09	-65.64
Net Cash Per Share	-2.60	-1.34	-1.54	-0.58	-1.66	-2.67
Filing Date Shares Outstanding	31.47	31.76	31.51	27.45	26.99	26.36
Total Common Shares Outstanding	31.49	31.36	31.15	27	26.48	25.23
Working Capital	52.5	61.25	59.12	55.75	7.32	-6.73
Book Value Per Share	5.24	5.32	4.65	4.79	3.44	1.71
Tangible Book Value	154.11	156.06	130.34	114.88	76.53	28.61
Tangible Book Value Per Share	4.89	4.98	4.18	4.25	2.89	1.13
Land	-	0.05	0.05	0.65	6.97	6.97
Buildings	-	101.54	86.03	88.06	134.53	131.74
Machinery	-	81.81	83.34	86.19	82.87	82.73
Construction In Progress	-	7.62	0.89	1.56	0.33	0.32

Source: S&P Capital IQ. Standard template. Financial Sources.