XML 46 R5.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents (includes VIE amounts of $231,940 and $169,074, see Note 2) $ 468,733 $ 464,965
Restricted cash and investments 224,934 189,319
Receivables:    
Accounts and notes receivable 535,176 494,646
Other receivables 20,676 23,758
Related party receivables 875 6,931
Allowance for doubtful accounts (198,802) (190,499)
Receivables, net 357,925 334,836
Income tax receivable 41,178 29,447
Prepaid expenses and other current assets 93,461 97,234
Current assets held for sale 102,623 0
Total current assets (includes VIE amounts of $407,315 and $322,210, see Note 2) 1,288,854 1,115,801
Notes receivable, net 4,116 61,157
Property and equipment:    
Land 397,153 396,821
Buildings 1,026,656 1,219,783
Furniture, equipment and software 1,188,211 1,160,350
Leasehold improvements 423,658 399,555
Construction in-progress 84,520 103,205
Accumulated depreciation and amortization (1,185,294) (1,128,081)
Property and equipment, net 1,934,904 2,151,633
Land use rights, net 2,713 45,275
Goodwill 1,954,666 1,934,464
Other intangible assets:    
Tradenames 1,295,614 1,307,633
Other intangible assets, net 35,927 46,700
Deferred costs, net 64,128 57,748
Deferred income taxes 156,006 142,130
Derivative instruments 48,186 4,464
Other assets 214,218 195,465
Long-term assets held for sale 392,391 0
Total assets (includes VIE amounts of $1,419,579 and $1,309,113, see Note 2) 7,391,723 7,062,470
Current liabilities:    
Accounts payable 79,568 86,699
Accrued expenses 291,216 368,973
Accrued compensation and benefits 247,575 239,495
Deferred revenue and student deposits 312,422 362,891
Current portion of long-term debt 154,234 178,989
Current portion of due to shareholders of acquired companies 40,140 118,679
Income taxes payable 29,857 30,371
Derivative instruments 4,458 5,218
Other current liabilities 38,560 48,917
Current liabilities held for sale 176,719 0
Total current liabilities (includes VIE amounts of $341,147 and $320,922, see Note 2) 1,374,749 1,440,232
Long-term debt, less current portion 3,207,064 3,629,375
Due to shareholders of acquired companies, less current portion 39,429 92,269
Deferred compensation 14,470 14,128
Income taxes payable 112,576 135,140
Deferred income taxes 278,215 452,084
Derivative instruments 9,390 7,750
Other long-term liabilities 260,144 270,267
Long-term liabilities held for sale 94,407 0
Total liabilities (includes VIE amounts of $449,561 and $424,297, see Note 2) 5,390,444 6,041,245
Stockholders' equity:    
Preferred stock, par value $0.001 per share – 49,488 shares authorized, no shares issued and outstanding as of December 31, 2017 and December 31, 2016 0 0
Common stock 0 534
Additional paid-in capital 3,446,206 2,721,432
Accumulated deficit (946,236) (1,037,701)
Accumulated other comprehensive loss (925,556) (1,052,055)
Total Laureate Education, Inc. stockholders' equity 1,575,164 632,210
Noncontrolling interests 12,118 32,182
Total stockholders' equity 1,587,282 664,392
Total liabilities and stockholders' equity 7,391,723 7,062,470
Series A Convertible Redeemable Preferred Stock    
Current liabilities:    
Total redeemable noncontrolling interests and equity 400,276 332,957
Puttable Arrangements - Common and Preferred Stock    
Current liabilities:    
Total redeemable noncontrolling interests and equity 13,721 23,876
Class A Common Stock    
Stockholders' equity:    
Common stock 220 0
Class B Common Stock    
Stockholders' equity:    
Common stock $ 530 $ 0