| Additional Information - Financial Statement Schedule I |
TAL EDUCATION GROUP Additional Information - Financial Statement Schedule I Condensed Financial Information of Parent Company Balance Sheets (In thousands of U.S. dollars, except share and share related data or otherwise noted) | | | | | | | | | As of | | As of | | | February 28, | | February 28, | | | 2025 | | 2026 | ASSETS | | | | | | | | | | | | | | Current assets | | | | | | | Cash and cash equivalents | | $ | 1,036,364 | | $ | 435,362 | Short-term investments | | | 1,510,867 | | | 1,275,552 | Amounts due from subsidiaries and related parties, current | | | 217,141 | | | 523,754 | Prepaid expenses and other current assets | | | 7,637 | | | 6,894 | Total current assets | | | 2,772,009 | | | 2,241,562 | | | | | | | | Long-term investments | | | 164,132 | | | 236,394 | Investments in its subsidiaries, the VIEs and the VIEs’ subsidiaries and schools | | | 1,009,495 | | | 1,501,369 | Long-term prepayments and other non-current assets | | | 71 | | | 22 | Total assets | | $ | 3,945,707 | | $ | 3,979,347 | | | | | | | | LIABILITIES AND EQUITY | | | | | | | | | | | | | | Current liabilities | | | | | | | Amounts due to subsidiaries and related parties, current | | $ | 178,397 | | $ | 188,465 | Other current liabilities | | | 743 | | | 16,445 | Total current liabilities | | | 179,140 | | | 204,910 | | | | | | | | Total liabilities | | | 179,140 | | | 204,910 | | | | | | | | Equity | | | | | | | Class A common shares | | | 154 | | | 156 | Class B common shares | | | 49 | | | 49 | Treasury stock | | | — | | | (20) | Additional paid-in capital | | | 4,294,819 | | | 3,694,418 | Statutory reserve | | | 179,537 | | | 216,638 | Accumulated deficit | | | (624,078) | | | (130,428) | Accumulated other comprehensive loss | | | (83,914) | | | (6,376) | Total TAL Education Group’s equity | | | 3,766,567 | | | 3,774,437 | | | | | | | | Total liabilities and equity | | $ | 3,945,707 | | $ | 3,979,347 |
TAL EDUCATION GROUP Additional Information - Financial Statement Schedule I Condensed Financial Information of Parent Company Statements of Operations (In thousands of U.S. dollars, except share and share related data or otherwise noted) | | | | | | | | | | | | For the year ended | | For the year ended | | For the year ended | | | February 29, | | February 28, | | February 28, | | | 2024 | | 2025 | | 2026 | Selling and marketing | | $ | (15,396) | | $ | (9,709) | | $ | (4,685) | General and administrative | | | (45,519) | | | (32,112) | | | (26,176) | Total operating expenses | | | (60,915) | | | (41,821) | | | (30,861) | | | | | | | | | | | Interest income, net | | | 62,828 | | | 66,714 | | | 46,058 | Other income, net | | | 16,769 | | | 53,461 | | | 132,406 | Impairment loss on long-term investments | | | (15,833) | | | (5,247) | | | (9,898) | Income tax expenses | | | (1,852) | | | (1,965) | | | (913) | Loss from equity method investments | | | (7,927) | | | (5,530) | | | (595) | Equity in earnings of its subsidiaries, the VIEs and the VIEs’ subsidiaries and schools | | | 3,357 | | | 18,979 | | | 394,554 | Net (loss) / income | | $ | (3,573) | | $ | 84,591 | | $ | 530,751 |
TAL EDUCATION GROUP Additional Information - Financial Statement Schedule I Condensed Financial Information of Parent Company Statements of Comprehensive Income (In thousands of U.S. dollars, except share and share related data or otherwise noted) | | | | | | | | | | | | For the year ended | | For the year ended | | For the year ended | | | February 29, | | February 28, | | February 28, | | | 2024 | | 2025 | | 2026 | Net (loss) / income | | $ | (3,573) | | $ | 84,591 | | $ | 530,751 | Other comprehensive (loss) / income | | | | | | | | | | Foreign currency translation adjustment | | | (40,258) | | | (12,920) | | | 81,343 | Unrealized gain / (loss) on available-for-sale investments | | | 4,996 | | | (5,066) | | | (3,805) | Other comprehensive (loss) / income | | | (35,262) | | | (17,986) | | | 77,538 | | | | | | | | | | | Comprehensive (loss) / income attributable to TAL Education Group’s shareholders | | $ | (38,835) | | $ | 66,605 | | $ | 608,289 |
TAL EDUCATION GROUP Additional Information - Financial Statement Schedule I Condensed Financial Information of Parent Company Statements of Cash Flow (In thousands of U.S. dollars, except share and share related data or otherwise noted) | | | | | | | | | | | | For the year ended | | For the year ended | | For the year ended | | | February 29, | | February 28, | | February 28, | | | 2024 | | 2025 | | 2026 | Net cash provided by / (used in) operating activities | | $ | 78,285 | | $ | 95,118 | | $ | (48,805) | | | | | | | | | | | Cash flows from investing activities | | | | | | | | | | Loan to group subsidiaries | | | — | | | (88,388) | | | (232,100) | Repayment of loan to subsidiaries | | | — | | | 328,669 | | | — | Purchase of short-term investments | | | (447,680) | | | (1,531,100) | | | (1,304,253) | Proceeds from maturity of short-term investments | | | 718,066 | | | 1,040,846 | | | 1,797,086 | Payments for long-term investments | | | (119,336) | | | (99,055) | | | (175,026) | Proceeds from disposal of long-term investments | | | 46,939 | | | 865 | | | 5,608 | Investment in subsidiaries | | | (60,544) | | | (16,721) | | | — | | | | | | | | | | | Net cash provided by / (used in) investing activities | | | 137,445 | | | (364,884) | | | 91,315 | | | | | | | | | | | Cash flows from financing activities | | | | | | | | | | Proceeds from exercise of share options | | | 462 | | | 407 | | | 573 | Share repurchase | | | (233,557) | | | (13,147) | | | (644,085) | | | | | | | | | | | Net cash used in financing activities | | | (233,095) | | | (12,740) | | | (643,512) | | | | | | | | | | | | | | | | | | | | | Net change in cash and cash equivalents | | | (17,365) | | | (282,506) | | | (601,002) | | | | | | | | | | | Cash and cash equivalents at the beginning of year | | | 1,336,235 | | | 1,318,870 | | | 1,036,364 | | | | | | | | | | | Cash and cash equivalents at the end of year | | $ | 1,318,870 | | $ | 1,036,364 | | $ | 435,362 |
TAL EDUCATION GROUP Additional Information - Financial Statement Schedule I Condensed Financial Information of Parent Company Note to the Financial Statements 1. BASIS FOR PREPARATION The condensed financial information of the Company has been prepared using the same accounting policies as set out in the Group’s consolidated financial statements except that the Company used the equity method to account for investments in its subsidiaries, the VIEs and the VIEs’ subsidiaries and schools. The parent company’s condensed financial information should be read in conjunction with the Group’s consolidated financial statements. 2. INVESTMENTS IN SUBSIDIARIES AND VIEs The Company, its subsidiaries, the VIEs and the VIEs’ subsidiaries and schools were included in the consolidated financial statements where the inter-company balances and transactions were eliminated upon consolidation. For purpose of the Company’s stand-alone financial statements, its investments in subsidiaries, the VIEs and the VIEs’ subsidiaries and schools were reported using the equity method of accounting. The Company’s share of income from its subsidiaries, the VIEs and the VIEs’ subsidiaries and schools was reported as equity in earnings of its subsidiaries, the VIEs and the VIEs’ subsidiaries and schools in the condensed statements of operations.
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