LINCOLN EDUCATIONAL SERVICES CORP
For the period ended Dec 31, 2023. Filed Mar 5, 2024.
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FY2023 · Filed Mar 5, 2024
LINC$22.00+24.6%Stored close · as of Nov 9, 2026
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Schedule II-Valuation and Qualifying Accounts
(in thousands)
| Description · Balance at Beginning of Period · Charged to Expense · Accounts Written-off · Balance at End of Period | |||||
|---|---|---|---|---|---|
| Allowance accounts for the year ended: | |||||
| Student receivable allowance | $35,370 | $41,637 | $(23,196 | )1 | $53,811 |
| Student receivable allowance | $31,921 | $34,915 | $(31,466) | $35,370 | |
| 1 | On January 1, 2023, the Company adopted Accounting Standards Update No. 2016-13 Financial Instruments - Credit Losses. The adoption resulted in an opening balance sheet adjustments of $10.8 million increasing the allowance for credit losses relating to the Company’s outstanding receivables. The adoption also resulted in a decrease to retained earnings of $7.9 million, after tax and a deferred tax asset increase of $2.9 million. |
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