Financial Data

IN MILLIONS For the Fiscal Year ended June 30...	2017	2016	2015	2014	2013
Revenues	$ 800 m.	761	707	676	612
Expenses	$ 731 m.	704	660	645	571
Cash from Operations	69	57	47	31	41
Capital Investments	78	113	81	92	80
Building Debt Outstanding	64	71	78	85	91
Unrestricted Reserves	145	103	125	99	83
Endowment	3,472	3,209	3,309	3,210	2,828
Total Assets	$ 4,821	$ 4,508	$ 4,587	$ 4,409	$ 3,831

MBA Program

	2017	2016	2015	2014	2013
Applications	10,351	9,759	9,686	9,543	9,315
Percent Admitted	11%	11%	11%	12%	12%
Yield	91%	90%	91%	89%	89%
Enrollment	1,879	1,883	1,865	1,859	1,838
Tuition	$ 63,675	$ 61,225	$ 58,875	$ 56,175	$ 53,500
Average Fellowship Aid Per Student	$ 37,312	$ 35,571	$ 32,919	$ 31,710	$ 30,725

Doctoral Programs

	2017	2016	2015	2014	2013
Applications	915	843	749	792	816
Percent Admitted	4%	5%	4%	4%	5%
Yield	79%	66%	53%	76%	71%
Enrollment	132	134	147	150	143

Executive Education

	2017	2016	2015	2014	2013
Enrollment	11,361	10,855	10,614	9,993	9,992

HBX

	2017	2016	2015	2014	2013
Participants	8,665	6,431	3,899	670	–

Faculty

	2017	2016	2015	2014	2013
Faculty Positions (full-time equivalents)	233	233	231	234	227
Teaching Materials	573	566	544	617	684
Research Articles	163	160	183	193	181
Books	14	23	13	18	17

Staff

	2017	2016	2015	2014	2013
Staff Positions (full-time equivalents)	1,680	1,631	1,541	1,447	1,335

Publishing

	2017	2016	2015	2014	2013
Cases Sold	14,859,000	13,468,000	13,223,000	11,992,000	11,448,000
Harvard ManageMentor ™ Registered Users	3,311,000	3,478,000	3,226,000	2,987,000	–
HBR.org Average Monthly Visitors	7,012,000	5,511,000	4,629,000	3,656,000	3,627,000