Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2017

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



	For the three months ended June 30,					For the six months ended June 30,
	2017		2016			2017			2016
Selected Statements of Operations information:
Revenues, by segment:
LatAm	$	153,262	$	112,223		$	216,948		$	169,430
EMEAA	67,302		73,233			133,515			145,568
Revenues	220,564		185,456			350,463			314,998

Depreciation and amortization	12,651		12,974			25,473			25,768

Operating income (loss), by segment:
LatAm	31,514		(2,009		)	(9,554		)	(42,598		)
EMEAA	8,019		8,910			19,895			19,665
Operating income (loss)	39,533		6,901			10,341			(22,933		)

Net income (loss)	43,152		9,486			23,040			(20,080		)
Net income (loss) attributable to Laureate Education, Inc.	41,955		8,134			21,019			(21,181		)

The following table reconciles the Net income (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 June 30,					For the six months ended June 30,
	2017			2016		2017			2016
Net income (loss) attributable to Laureate Education, Inc.:
Variable interest entities	$	41,955		$	8,134	$	21,019		$	(21,181	)
Other operations	183,817			277,470		214,374			325,580
Corporate and eliminations	(109,386		)	61,785		(241,815		)	(60,177		)
Net income (loss) attributable to Laureate Education, Inc.	$	116,386		$	347,389	$	(6,422	)	$	244,222

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:



	June 30, 2017				December 31, 2016
	VIE		Consolidated		VIE		Consolidated
Balance Sheets data:
Cash and cash equivalents	$	114,684	$	367,163	$	169,074	$	464,965
Other current assets	235,994		875,319		153,136		650,836
Total current assets	350,678		1,242,482		322,210		1,115,801
Goodwill	188,620		2,020,620		181,669		1,934,464
Tradenames	106,005		1,332,523		104,117		1,307,633
Other intangible assets, net	—		44,735		—		46,700
Other long-term assets	695,350		2,729,376		701,117		2,657,872
Total assets	1,340,653		7,369,736		1,309,113		7,062,470

Current liabilities	295,819		1,415,202		320,922		1,440,232
Long-term debt and other long-term liabilities	109,362		4,249,375		103,375		4,601,013
Total liabilities	405,181		5,664,577		424,297		6,041,245

Total stockholders' equity	935,472		1,447,607		884,816		664,392
Total stockholders' equity attributable to Laureate Education, Inc.	915,158		1,412,953		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.

+ References + Details