Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

The VIEs in Brazil and Mexico comprise several not-for-profit foundations that have insignificant revenues and operating expenses. Selected Consolidated Statements of Operations information for VIEs that are included in continuing operations was as follows, net of the charges related to the above-described contractual arrangements:



For the three months ended March 31,	2019			2018
Selected Statements of Operations information:
Revenues, by segment:
Brazil	$	—		$	—
Mexico	—			—
Andean	56,450			55,036
Revenues	56,450			55,036

Depreciation and amortization	6,096			6,744

Operating loss, by segment:
Brazil	(18		)	(18		)
Mexico	(97		)	(157		)
Andean	(27,220		)	(39,251		)
Operating loss	(27,335		)	(39,426		)

Net loss	(24,200		)	(34,994		)
Net loss attributable to Laureate Education, Inc.	(24,200		)	(34,994		)

The following table reconciles the Net (loss) income 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,	2019			2018
Net (loss) income attributable to Laureate Education, Inc.:
Variable interest entities	$	(24,200	)	$	(34,994	)
Other operations	(45,211		)	(18,268		)
Corporate and eliminations	260,654			222,141
Net income attributable to Laureate Education, Inc.	$	191,243		$	168,879

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, 2019				December 31, 2018
	VIE		Consolidated		VIE		Consolidated
Balance Sheets data:
Cash and cash equivalents	$	75,019	$	278,782	$	158,387	$	388,490
Current assets held for sale	194,353		308,650		183,880		306,372
Other current assets	321,485		813,029		141,346		522,271
Total current assets	590,857		1,400,461		483,613		1,217,133

Goodwill	172,675		1,738,228		168,473		1,707,089
Tradenames	68,273		1,134,342		66,929		1,126,244
Other intangible assets, net	—		2,476		—		25,429
Operating lease right-of-use assets, net	76,149		952,890		—		—
Long-term assets held for sale	170,787		961,212		165,087		1,031,459
Other long-term assets	282,207		1,643,912		312,711		1,662,282
Total assets	1,360,948		7,833,521		1,196,813		6,769,636

Current liabilities held for sale	91,912		315,521		101,320		308,391
Other current liabilities	266,456		1,286,151		106,657		881,696
Long-term operating leases, less current portion	65,649		871,588		—		—
Long-term liabilities held for sale	63,847		374,179		42,265		354,293
Long-term debt and other long-term liabilities	33,365		2,644,267		24,502		3,159,914
Total liabilities	521,229		5,491,706		274,744		4,704,294

Total stockholders' equity	839,719		2,327,906		922,069		2,050,946
Total stockholders' equity attributable to Laureate Education, Inc.	839,323		2,335,388		921,747		2,061,079

- 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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