XML 29 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2018
Dec. 31, 2017
Current assets:    
Cash and cash equivalents (includes VIE amounts of $146,927 and $100,971, see Note 2) $ 392,348 $ 320,567
Restricted cash 196,790 212,215
Receivables:    
Accounts and notes receivable 571,240 474,456
Other receivables 17,500 15,175
Allowance for doubtful accounts (164,101) (178,566)
Receivables, net 424,639 311,065
Income tax receivable 16,454 38,231
Prepaid expenses and other current assets 77,554 81,948
Current assets held for sale 346,702 324,668
Total current assets (includes VIE amounts of $642,133 and $407,315, see Note 2) 1,454,487 1,288,694
Notes receivable, net 12,171 3,528
Property and equipment:    
Land 229,455 243,179
Buildings 642,040 669,973
Furniture, equipment and software 961,712 977,382
Leasehold improvements 359,466 366,735
Construction in-progress 45,792 62,474
Accumulated depreciation and amortization (980,778) (939,326)
Property and equipment, net 1,257,687 1,380,417
Land use rights, net 1,631 1,572
Goodwill 1,709,586 1,828,365
Other intangible assets:    
Tradenames 1,130,186 1,167,302
Other intangible assets, net 25,455 35,779
Deferred costs, net 65,896 60,931
Deferred income taxes 150,530 152,398
Derivative instruments 682 48,186
Other assets 174,881 199,441
Long-term assets held for sale 1,007,344 1,224,672
Total assets (includes VIE amounts of $1,334,870 and $1,419,579, see Note 2) 6,990,536 7,391,285
Current liabilities:    
Accounts payable 51,395 70,137
Accrued expenses 269,255 239,620
Accrued compensation and benefits 173,718 215,760
Deferred revenue and student deposits 465,290 184,116
Current portion of long-term debt 104,502 121,870
Current portion of due to shareholders of acquired companies 23,065 34,745
Income taxes payable 13,713 20,553
Derivative instruments 35 4,458
Other current liabilities 42,063 31,761
Current liabilities held for sale 394,229 451,569
Total current liabilities (includes VIE amounts of $314,860 and $341,147, see Note 2) 1,537,265 1,374,589
Long-term debt, less current portion 2,505,498 2,973,396
Due to shareholders of acquired companies, less current portion 20,045 37,040
Deferred compensation 13,383 14,470
Income taxes payable 73,275 106,062
Deferred income taxes 257,083 247,371
Derivative instruments 7,258 9,390
Other long-term liabilities 239,053 221,941
Long-term liabilities held for sale 353,338 405,747
Total liabilities (includes VIE amounts of $382,380 and $449,561, see Note 2) 5,006,198 5,390,006
Stockholders' equity:    
Preferred stock, par value $0.001 per share – 49,889 and 49,488 shares authorized as of September 30, 2018 and December 31, 2017, respectively, no shares issued and outstanding as of September 30, 2018 and December 31, 2017 0 0
Additional paid-in capital 3,705,707 3,446,206
Accumulated deficit (643,407) (946,236)
Accumulated other comprehensive loss (1,079,860) (925,556)
Total Laureate Education, Inc. stockholders' equity 1,983,336 1,575,164
Noncontrolling interests (11,669) 12,118
Total stockholders' equity 1,971,667 1,587,282
Total liabilities and stockholders' equity 6,990,536 7,391,285
Series A Convertible Redeemable Preferred Stock    
Current liabilities:    
Total redeemable noncontrolling interests and equity 0 400,276
Redeemable noncontrolling interests and equity    
Current liabilities:    
Total redeemable noncontrolling interests and equity 12,671 13,721
Class A Common Stock    
Stockholders' equity:    
Common stock 366 220
Class B Common Stock    
Stockholders' equity:    
Common stock $ 530 $ 530