Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 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 June 30,						For the six months ended June 30,
	2019			2018			2019			2018
Selected Statements of Operations information:
Revenues, by segment:
Brazil	$	—		$	—		$	—		$	—
Mexico	—			86			—			86
Andean	148,472			150,504			204,922			205,540
Revenues	148,472			150,590			204,922			205,626

Depreciation and amortization	6,890			6,490			12,986			13,235

Operating income (loss), by segment:
Brazil	(17		)	(22		)	(34		)	(40		)
Mexico	(99		)	(71		)	(196		)	(228		)
Andean	44,519			34,011			17,299			(5,240		)
Operating income (loss)	44,403			33,918			17,069			(5,508		)

Net income	41,785			39,042			17,585			4,047
Net income attributable to Laureate Education, Inc.	41,785			39,042			17,585			4,047

The following table reconciles the Net 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 June 30,					For the six months ended June 30,
	2019		2018			2019		2018
Net income (loss) attributable to Laureate Education, Inc.:
Variable interest entities	$	41,785	$	39,042		$	17,585	$	4,047
Other operations	699,745		238,626			654,533		220,359
Corporate and eliminations	40,062		(53,256		)	300,717		168,885
Net income attributable to Laureate Education, Inc.	$	781,592	$	224,412		$	972,835	$	393,291

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, 2019				December 31, 2018
	VIE		Consolidated		VIE		Consolidated
Balance Sheets data:
Cash and cash equivalents	$	69,692	$	236,412	$	158,387	$	388,490
Current assets held for sale	102,792		187,166		183,880		306,372
Other current assets	251,556		697,281		141,346		522,271
Total current assets	424,040		1,120,859		483,613		1,217,133

Goodwill	172,557		1,737,455		168,473		1,707,089
Tradenames	68,319		1,134,648		66,929		1,126,244
Other intangible assets, net	—		2,076		—		25,429
Operating lease right-of-use assets, net	76,620		937,884		—		—
Long-term assets held for sale	99,967		493,859		165,087		1,031,459
Other long-term assets	292,116		1,665,007		312,711		1,662,282
Total assets	1,133,619		7,091,788		1,196,813		6,769,636

Current liabilities held for sale	34,066		139,162		101,320		308,391
Other current liabilities	156,659		1,066,324		106,657		881,696
Long-term operating leases, less current portion	65,836		862,369		—		—
Long-term liabilities held for sale	28,939		163,859		42,265		354,293
Long-term debt and other long-term liabilities	33,177		1,740,498		24,502		3,159,914
Total liabilities	318,677		3,972,212		274,744		4,704,294

Total stockholders' equity	814,942		3,107,083		922,069		2,050,946
Total stockholders' equity attributable to Laureate Education, Inc.	814,942		3,118,214		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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