Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2017

Selected Consolidated Statements of Operations information for these VIEs was as follows:



For the three months ended March 31,	2017			2016
Selected Statements of Operations information:
Revenues, by segment:
LatAm	$	63,686		$	57,207
EMEAA	66,213			72,335
Revenues	129,899			129,542

Depreciation and amortization	12,823			12,794

Operating (loss) income, by segment:
LatAm	(41,068		)	(40,582		)
EMEAA	11,875			10,755
Operating loss	(29,193		)	(29,827		)

Net loss	(20,112		)	(29,559		)
Net loss attributable to Laureate Education, Inc.	(20,936		)	(29,308		)

The following table reconciles the Net loss attributable to Laureate Education, Inc. as presented in the table above, to the amounts in our Consolidated Statements of Operations:



For the three months ended March 31,	2017			2016
Net (loss) income attributable to Laureate Education, Inc.:
Variable interest entities	$	(20,936	)	$	(29,308	)
Other operations	30,558			48,103
Corporate and eliminations	(132,429		)	(121,962		)
Net loss attributable to Laureate Education, Inc.	$	(122,807	)	$	(103,167	)

The following table presents selected assets and liabilities of the consolidated VIEs. Except for Goodwill, the assets in the table below include the assets that can be used only to settle the obligations for the VIEs. The liabilities in the table are liabilities for which the creditors of the VIEs do not have recourse to the general credit of Laureate.

Selected Consolidated Balance Sheet amounts for these VIEs were as follows:



	March 31, 2017				December 31, 2016
	VIE		Consolidated		VIE		Consolidated
Balance Sheets data:
Cash and cash equivalents	$	141,549	$	856,306	$	169,074	$	464,965
Other current assets	301,688		920,848		153,136		650,836
Total current assets	443,237		1,777,154		322,210		1,115,801
Goodwill	185,887		2,012,964		181,669		1,934,464
Tradenames	105,099		1,328,526		104,117		1,307,633
Other intangible assets, net	—		45,840		—		46,700
Other long-term assets	698,825		2,746,107		701,117		2,657,872
Total assets	1,433,048		7,910,591		1,309,113		7,062,470

Total current liabilities	439,001		1,791,522		320,922		1,440,232
Long-term debt and other long-term liabilities	111,339		4,572,879		103,375		4,601,013
Total liabilities	550,340		6,364,401		424,297		6,041,245

Total stockholders' equity	882,708		1,357,046		884,816		664,392
Total stockholders' equity attributable to Laureate Education, Inc.	863,848		1,322,405		866,997		632,210

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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