XML 29 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents (includes VIE amounts of $215,908 and $157,003, see Note 2) $ 629,551 $ 339,629
Restricted cash 185,702 186,921
Receivables:    
Accounts and notes receivable 469,294 432,910
Other receivables 22,426 18,350
Allowance for doubtful accounts (180,242) (190,785)
Receivables, net 311,478 260,475
Income tax receivable 27,276 22,416
Prepaid expenses and other current assets 53,875 49,686
Current assets held for sale 62,312 83,800
Total current assets 1,270,194 942,927
Notes receivable, net 10,155 9,882
Property and equipment:    
Land 182,706 229,663
Buildings 524,500 662,376
Furniture, equipment and software 850,702 952,599
Leasehold improvements 279,899 329,011
Construction in-progress 41,581 57,393
Accumulated depreciation and amortization (970,970) (1,031,823)
Property and equipment, net 908,418 1,199,219
Operating lease right-of-use assets, net 691,631 861,878
Land use rights, net 1,358 1,628
Goodwill 1,355,585 1,701,495
Other intangible assets:    
Tradenames 977,799 1,119,454
Other intangible assets, net 963 1,431
Deferred costs, net 66,961 69,998
Deferred income taxes 347,133 125,417
Other assets 136,306 176,326
Long-term assets held for sale 187,174 305,973
Total assets 5,953,677 6,515,628
Current liabilities:    
Accounts payable 68,890 119,523
Accrued expenses 179,091 214,808
Accrued compensation and benefits 132,038 182,080
Deferred revenue and student deposits 340,343 216,816
Current portion of operating leases 91,326 91,558
Current portion of long-term debt and finance leases 211,298 118,822
Current portion of due to shareholders of acquired companies 8,126 11,523
Income taxes payable 0 25,501
Other current liabilities 24,804 25,969
Current liabilities held for sale 50,252 64,204
Total current liabilities (includes VIE amounts of $191,165 and $142,343, see Note 2) 1,106,168 1,070,804
Long-term operating leases, less current portion 700,944 792,358
Long-term debt and finance leases, less current portion 1,379,917 1,260,317
Due to shareholders of acquired companies, less current portion 7,872 9,995
Deferred compensation 12,934 12,744
Income taxes payable 49,447 62,200
Deferred income taxes 192,158 218,378
Other long-term liabilities 143,594 147,472
Long-term liabilities held for sale 68,425 124,914
Total liabilities 3,661,459 3,699,182
Redeemable noncontrolling interests and equity 12,157 12,295
Stockholders' equity:    
Additional paid-in capital 3,756,975 3,724,636
Retained earnings 228,301 436,509
Accumulated other comprehensive loss (1,391,686) (1,073,981)
Treasury stock at cost (17,627 shares held at June 30, 2020 and 16,008 shares held at December 31, 2019) (300,309) (271,106)
Total Laureate Education, Inc. stockholders' equity 2,294,191 2,816,963
Noncontrolling interests (14,130) (12,812)
Total stockholders' equity 2,280,061 2,804,151
Total liabilities and stockholders' equity 5,953,677 6,515,628
Variable Interest Entity, Primary Beneficiary    
Current assets:    
Cash and cash equivalents (includes VIE amounts of $215,908 and $157,003, see Note 2) 215,908 157,003
Receivables:    
Current assets held for sale 17,758 16,050
Total current assets 392,899 346,125
Property and equipment:    
Operating lease right-of-use assets, net 34,694 65,761
Goodwill 31,431 159,957
Other intangible assets:    
Tradenames 0 61,691
Other intangible assets, net 0 0
Long-term assets held for sale 52,745 52,519
Total assets 657,761 948,632
Current liabilities:    
Current liabilities held for sale 12,087 11,741
Total current liabilities (includes VIE amounts of $191,165 and $142,343, see Note 2) 191,165 142,343
Long-term operating leases, less current portion 52,577 56,571
Long-term liabilities held for sale 38,545 29,666
Total liabilities 317,954 257,199
Stockholders' equity:    
Total Laureate Education, Inc. stockholders' equity 339,807 691,433
Total stockholders' equity 339,807 691,433
Class A Common Stock    
Stockholders' equity:    
Preferred stock, par value $0.001 per share – 49,889 shares authorized as of June 30, 2020 and December 31, 2019, respectively, no shares issued and outstanding as of June 30, 2020 and December 31, 2019 0 0
Common stock 547 542
Class B Common Stock    
Stockholders' equity:    
Common stock $ 363 $ 363