Bright Horizons Family Solutions Inc 2024年度报告

FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934. For the fiscal year ended December 31, 2024 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934. For the transition period fromto Commission File Number 001-35780 BRIGHT HORIZONS FAMILY SOLUTIONSINC. (Exact name of registrant as specified in its charter) 80-0188269 Delaware (I.R.S. EmployerIdentification Number) (State or other jurisdiction ofincorporation or organization) 2 Wells Avenue Registrant’s telephone number, including area code:(617) 673-8000 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregistered Title of each class Common Stock, $0.001 par valueper share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the SecuritiesAct.Yes☐No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of theAct.Yes☐No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90days.Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files).Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☐ Accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessmentof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recoveryperiod pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theAct).Yes☐No☐ The aggregate market value of the registrant's common stock held by non-affiliates as of June 30, 2024 wasapproximately $6.4 billion. As of February 14, 2025, there were 57,354,223 shares of the registrant’s common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement for the 2025 Annual Meeting of Stockholders to be filed with theSecurities and Exchange Commission pursuant to Regulation 14A not later than 120 days after the end of the fiscalyear covered by this Annual Report on Form 10-K, are incorporated by reference in Part III, Items 10-14 of thisAnnual Report on Form 10-K. Table of Contents BRIGHT HORIZONS FAMILY SOLUTIONS INC.TABLE OF CONTENTS Part I. Item 1.Business4Item 1A.Risk Factors16Item 1B.Unresolved Staff Comments27Item 1C.Cybersecurity28Item 2.Properties29Item 3.Legal Proceedings30Item 4.Mine Safety Disclosures30Information about our Executive Officers31Part II.Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities32 Item 6.[Reserved]34Item 7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations34Item 7A.Quantitative and Qualitative Disclosures About Market Risk47Item 8.Financial Statements and Supplementary Data49Item 9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure89Item 9A.Controls and Procedures89Item 9B.Other Information91Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections91 Part III.I