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Earnings (Loss) Per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share Earnings (Loss) Per Share

We have two classes of common stock, Class A common stock and Class B common stock. Other than voting rights, the Class B common stock has the same rights as the Class A common stock and therefore both are treated as the same class of stock for purposes of the earnings per share calculation. Laureate computes basic earnings per share (EPS) by dividing income available to common shareholders by the weighted average number of common shares outstanding for the reporting period. Diluted EPS reflects the potential dilution that would occur if share-based compensation awards, contingently issuable shares, or convertible securities were exercised or converted into common stock. To calculate the diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options, restricted stock, restricted stock units, and contingently issuable shares determined using the treasury stock method, and convertible securities using the if-converted method.
The following tables summarize the computations of basic and diluted earnings (loss) per share:
For the three months ended September 30,
2019
 
2018
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
 
 
 
Loss from continuing operations
$
(28,526
)
 
$
(40,353
)
Net (income) loss attributable to noncontrolling interests
(12
)
 
12

Loss from continuing operations attributable to Laureate Education, Inc.
(28,538
)
 
(40,341
)
 
 
 
 
Accretion of redemption value of redeemable noncontrolling interests and equity
(193
)
 
324

Net loss from continuing operations available to common stockholders for basic and diluted earnings (loss) per share
(28,731
)
 
(40,017
)
 
 
 
 
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
 
 
 
Loss from discontinued operations, net of tax
$
(27,137
)
 
$
(37,905
)
Loss on sales of discontinued operations, net of tax
(41,131
)
 
(18,426
)
Loss attributable to noncontrolling interests
1,580

 
1,883

Net loss from discontinued operations for basic and diluted earnings (loss) per share
$
(66,688
)
 
$
(54,448
)
 
 
 
 
Denominator used in basic and diluted earnings (loss) per common share:
 
 
 
Basic and diluted weighted average shares outstanding
224,193

 
224,037

 
 
 
 
Basic and diluted loss per share:
 
 
 
Loss from continuing operations
$
(0.13
)
 
$
(0.18
)
Loss from discontinued operations
(0.30
)
 
(0.24
)
Basic and diluted loss per share
$
(0.43
)
 
$
(0.42
)

For the nine months ended September 30,
2019
 
2018
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
 
 
 
Loss from continuing operations
$
(37,775
)
 
$
(36,641
)
Net income attributable to noncontrolling interests
(61
)
 
(78
)
Loss from continuing operations attributable to Laureate Education, Inc.
(37,836
)
 
(36,719
)
 
 
 
 
Accretion of redemption value of redeemable noncontrolling interests and equity
264

 
1,130

Adjusted for: accretion related to noncontrolling interests and equity redeemable at fair value
—

 
(559
)
Accretion of Series A Preferred Stock
—

 
(61,974
)
Gain upon conversion of Series A Preferred Stock
—

 
74,110

Subtotal: accretion of other redeemable noncontrolling interests and equity and Series A Preferred Stock, net
264

 
12,707

Net loss available to common stockholders for basic earnings (loss) per share
$
(37,572
)
 
$
(24,012
)
  Adjusted for: accretion of Series A Preferred Stock
—

 
61,974

  Adjusted for: gain upon conversion of Series A Preferred Stock
—

 
(74,110
)
Net loss from continuing operations available to common stockholders for diluted earnings (loss) per share
$
(37,572
)
 
$
(36,148
)
 
 
 
 
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
 
 
 
Income from discontinued operations, net of tax
$
66,472

 
$
23,551

Gain on sales of discontinued operations, net of tax
848,390

 
311,904

Loss (income) attributable to noncontrolling interests
583

 
(237
)
Net income from discontinued operations for basic and diluted earnings (loss) per share
$
915,445

 
$
335,218

 
 
 
 
Denominator used in basic and diluted earnings (loss) per common share:
 
 
 
Basic and diluted weighted average shares outstanding
224,498

 
209,129

 
 
 
 
Basic earnings (loss) per share:
 
 
 
Loss from continuing operations
$
(0.17
)
 
$
(0.11
)
Income from discontinued operations
4.08

 
1.60

Basic earnings per share
$
3.91

 
$
1.49

Diluted earnings (loss) per share:
 
 
 
Loss from continuing operations
$
(0.17
)
 
$
(0.17
)
Income from discontinued operations
4.08

 
1.60

Diluted earnings per share
$
3.91

 
$
1.43


The following table summarizes the number of stock options, shares of restricted stock and restricted stock units (RSUs) that were excluded from the diluted EPS calculations because the effect would have been antidilutive:
 
For the three months ended September 30,
 
For the nine months ended September 30,
 
2019
 
2018
 
2019
 
2018
Stock options
8,650

 
9,328

 
8,956

 
9,628

Restricted stock and RSUs
733

 
931

 
854

 
1,034