Earnings (Loss) Per Share

3 Months Ended

Mar. 31, 2020

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 any contingently issuable shares determined using the treasury stock method, and any 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 March 31,	2020		2019
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Income (loss) from continuing operations	$	124,082	$	(117,069)
Net loss (income) attributable to noncontrolling interests	8		(42)
Loss from continuing operations attributable to Laureate Education, Inc.	124,090		(117,111)

Accretion of redemption value of redeemable noncontrolling interests and equity	(44)		263





Net income (loss) from continuing operations available to common stockholders for basic and diluted earnings (loss) per share	124,046		(116,848)




Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
(Loss) income from discontinued operations, net of tax	$	(3,804)	$	63,329
(Loss) gain on sales of discontinued operations, net of tax	(21,962)		248,005
Loss (income) attributable to noncontrolling interests	1,291		(2,980)

Net (loss) income from discontinued operations for basic and diluted earnings (loss) per share	$	(24,475)	$	308,354

Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average shares outstanding	209,801		224,655

Dilutive effect of stock options	83		—
Dilutive effect of restricted stock units	342		—
Diluted weighted average shares outstanding	210,226		224,655

Basic and diluted earnings (loss) per share:
Loss from continuing operations	$	0.59	$	(0.52)
(Loss) income from discontinued operations	(0.12)		1.37
Basic and diluted (loss) earnings per share	$	0.47	$	0.85

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 March 31,	2020	2019
Stock options	4,167	8,970
Restricted stock and RSUs	—	983