Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Components of net changes in stockholders' equity

The components of net changes in stockholders' equity for the fiscal quarters of 2018 are as follows:



	Laureate Education, Inc. Stockholders
	Class A Common Stock			Class B Common Stock				Additional paid-in capital			(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Non-controlling interests			Total stockholders' equity
	Shares	Amount		Shares		Amount
Balance at December 31, 2017	55,052	$	220	132,443		$	530	$	3,446,206		$	(946,236	)	$	(925,556	)	$	12,118		$	1,587,282
Adoption of accounting standards	—	—		—		—		—			5,074			—			—			5,074
Balance at January 1, 2018	55,052	220		132,443		530		3,446,206			(941,162		)	(925,556		)	12,118			1,592,356
Non-cash stock compensation	—	—		—		—		(3,756		)	—			—			—			(3,756		)
Conversion of Class B shares to Class A shares	59	—		(59	)	—		—			—			—			—			—
Vesting of restricted stock, net of shares withheld to satisfy tax withholding	145	1		59		—		(804		)	—			—			—			(803		)
Distributions from noncontrolling interest holders	—	—		—		—		—			—			—			581			581
Change in noncontrolling interests	—	—		—		—		(468		)	—			—			(20,575		)	(21,043		)
Accretion of redeemable noncontrolling interests and equity	—	—		—		—		(76		)	—			—			—			(76		)
Accretion of Series A Convertible Redeemable Preferred Stock	—	—		—		—		(57,324		)	—			—			—			(57,324		)
Reclassification of redeemable noncontrolling interests and equity	—	—		—		—		—			—			—			38			38
Net income	—	—		—		—		—			168,879			—			2,666			171,545
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		—			—			83,648			(279		)	83,369
Unrealized gain on derivatives, net of tax of $0	—	—		—		—		—			—			2,210			—			2,210
Minimum pension liability adjustment, net of tax of $0	—	—		—		—		—			—			376			—			376
Balance at March 31, 2018	55,256	$	221	132,443		$	530	$	3,383,778		$	(772,283	)	$	(839,322	)	$	(5,451	)	$	1,767,473
Non-cash stock compensation	—	—		—		—		7,687			—			—			—			7,687
Conversion of Class B shares to Class A shares	27	—		(27	)	—		—			—			—			—			—
Vesting of restricted stock, net of shares withheld to satisfy tax withholding	188	1		—		—		(942		)	—			—			—			(941		)
Distributions to noncontrolling interest holders	—	—		—		—		—			—			—			(1,473		)	(1,473		)
Change in noncontrolling interests	—	—		—		—		—			—			—			(2,730		)	(2,730		)
Accretion of redeemable noncontrolling interests and equity	—	—		—		—		882			—			—			—			882
Accretion of Series A Preferred Stock	—	—		—		—		(4,650		)	—			—			—			(4,650		)
Gain upon conversion of Series A Preferred Stock	—	—		—		—		74,110			—			—			—			74,110
Reclassification of Series A Preferred Stock upon conversion	36,143	144		—		—		237,957			—			—			—			238,101
Other	—	—		—		—		—			(744		)	—			—			(744		)
Reclassification of redeemable noncontrolling interests and equity	—	—		—		—		—			—			—			(19		)	(19		)
Net income	—	—		—		—		—			224,412			—			(456		)	223,956
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		—			—			(197,143		)	471			(196,672		)
Unrealized gain on derivatives, net of tax of $0	—	—		—		—		—			—			10,126			—			10,126
Balance at June 30, 2018	91,614	$	366	132,416		$	530	$	3,698,822		$	(548,615	)	$	(1,026,339	)	$	(9,658	)	$	2,115,106



	Laureate Education, Inc. Stockholders
	Class A Common Stock			Class B Common Stock				Additional paid-in capital		(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Non-controlling interests			Total stockholders' equity
	Shares	Amount		Shares		Amount		Additional paid-in capital		(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Non-controlling interests			Total stockholders' equity
Balance at June 30, 2018	91,614	$	366	132,416		$	530	$	3,698,822	$	(548,615	)	$	(1,026,339	)	$	(9,658	)	$	2,115,106
Non-cash stock compensation	—	—		—		—		6,561		—			—			—			6,561
Conversion of Class B shares to Class A shares	29	—		(29	)	—		—		—			—			—			—
Vesting of restricted stock, net of shares withheld to satisfy tax withholding	11	—		—		—		—		—			—			—			—
Accretion of redeemable noncontrolling interests and equity	—	—		—		—		324		—			—			—			324
Reclassification of redeemable noncontrolling interests and equity	—	—		—		—		—		—			—			(328		)	(328		)
Net loss	—	—		—		—		—		(94,789		)	—			(1,895		)	(96,684		)
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		—		—			(52,961		)	211			(52,750		)
Unrealized loss on derivatives, net of tax of $0	—	—		—		—		—		—			(560		)	—			(560		)
Balance at September 30, 2018	91,654	$	366	132,387		$	530	$	3,705,707	$	(643,404	)	$	(1,079,860	)	$	(11,670	)	$	1,971,669

The components of net changes in stockholders' equity for the fiscal quarters of 2019 are as follows:



	Laureate Education, Inc. Stockholders
	Class A Common Stock			Class B Common Stock					Additional paid-in capital			(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Treasury stock at cost		Non-controlling interests			Total stockholders' equity
	Shares	Amount		Shares		Amount
Balance at December 31, 2018	107,450	$	430	116,865		$	467		$	3,703,796		$	(530,919	)	$	(1,112,695	)	$	—	$	(10,133	)	$	2,050,946
Adoption of accounting standards	—	—		—		—			—			28,944			—			—		—			28,944
Balance at January 1, 2019	107,450	430		116,865		467			3,703,796			(501,975		)	(1,112,695		)	—		(10,133		)	2,079,890
Non-cash stock compensation	—	—		—		—			3,149			—			—			—		—			3,149
Conversion of Class B shares to Class A shares	8	—		(8	)	—			—			—			—			—		—			—
Vesting of restricted stock, net of shares withheld to satisfy tax withholding	325	1		—		—			(1,421		)	—			—			—		—			(1,420		)
Distributions to noncontrolling interest holders	—	—		—		—			—			—			—			—		(625		)	(625		)
Accretion of redeemable noncontrolling interests and equity	—	—		—		—			263			—			—			—		—			263
Reclassification of redeemable noncontrolling interests and equity	—	—		—		—			—			—			—			—		224			224
Net income	—	—		—		—			—			191,243			—			—		3,022			194,265
Foreign currency translation adjustment, net of tax of $0	—	—		—		—			—			—			49,521			—		30			49,551
Unrealized gain on derivatives, net of tax of $0	—	—		—		—			—			—			2,609			—		—			2,609
Balance at March 31, 2019	107,783	$	431	116,857		$	467		$	3,705,787		$	(310,732	)	$	(1,060,565	)	$	—	$	(7,482	)	$	2,327,906
Non-cash stock compensation	—	—		—		—			4,854			—			—			—		—			4,854
Conversion of Class B shares to Class A shares	10,991	44		(10,991	)	(44		)	—			—			—			—		—			—
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	32	—		—		—			170			—			—			—		—			170
Distributions to noncontrolling interest holders	—	—		—		—			—			—			—			—		(731		)	(731		)
Change in noncontrolling interests	—	—		—		—			(3,700		)	—			—			—		—			(3,700		)
Accretion of redeemable noncontrolling interests and equity	—	—		—		—			194			—			—			—		—			194
Reclassification of redeemable noncontrolling interests and equity	—	—		—		—			—			—			—			—		(855		)	(855		)
Net income	—	—		—		—			—			781,592			—			—		(1,976		)	779,616
Foreign currency translation adjustment, net of tax of $0	—	—		—		—			—			—			10,275			—		(87		)	10,188
Unrealized loss on derivatives, net of tax of $0	—	—		—		—			—			—			(10,559		)	—		—			(10,559		)
Balance at June 30, 2019	118,806	$	475	105,866		$	423		$	3,707,305		$	470,860		$	(1,060,849	)	$	—	$	(11,131	)	$	3,107,083



	Laureate Education, Inc. Stockholders
	Class A Common Stock				Class B Common Stock					Additional paid-in capital			(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Treasury stock at cost			Non-controlling interests			Total stockholders' equity
	Shares		Amount		Shares		Amount			Additional paid-in capital			(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Treasury stock at cost			Non-controlling interests			Total stockholders' equity
Balance at June 30, 2019	118,806		$	475	105,866		$	423		$	3,707,305		$	470,860		$	(1,060,849	)	$	—		$	(11,131	)	$	3,107,083
Non-cash stock compensation	—		—		—		—			1,578			—			—			—			—			1,578
Conversion of Class B shares to Class A shares	15,002		60		(15,002	)	(60		)	—			—			—			—			—			—
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	96		—		—		—			1,455			—			—			—			—			1,455
Purchases of treasury stock at cost	(6,150	)	—		—		—			—			—			—			(104,849		)	—			(104,849		)
Accretion of redeemable noncontrolling interests and equity	—		—		—		—			(193		)	—			—			—			—			(193		)
Reclassification of redeemable noncontrolling interests and equity	—		—		—		—			—			—			—			—			649			649
Net loss	—		—		—		—			—			(95,226		)	—			—			(1,568		)	(96,794		)
Foreign currency translation adjustment, net of tax of $0	—		—		—		—			—			—			(82,070		)	—			(510		)	(82,580		)
Minimum pension liability adjustment, net of tax of $0	—		—		—		—			—			—			4,531			—			—			4,531
Balance at September 30, 2019	127,754		$	535	90,864		$	363		$	3,710,145		$	375,634		$	(1,138,388	)	$	(104,849	)	$	(12,560	)	$	2,830,880

Schedule of accumulated other comprehensive income (loss)

The components of these balances were as follows:



	September 30, 2019									December 31, 2018
	Laureate Education, Inc.			Noncontrolling Interests			Total			Laureate Education, Inc.			Noncontrolling Interests		Total
Foreign currency translation adjustment	$	(1,149,993	)	$	(108	)	$	(1,150,101	)	$	(1,127,719	)	$	459	$	(1,127,260	)
Unrealized gain on derivatives	10,416			—			10,416			18,366			—		18,366
Minimum pension liability adjustment	1,189			—			1,189			(3,342		)	—		(3,342		)
Accumulated other comprehensive loss	$	(1,138,388	)	$	(108	)	$	(1,138,496	)	$	(1,112,695	)	$	459	$	(1,112,236	)