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Stockholders' Equity
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity The components of net changes in stockholders’ equity for the fiscal quarters of 2021 are as follows:
Laureate Education, Inc. Stockholders
Class A
Common Stock		Class B
Common Stock		Additional paid-in capitalAccumulated deficitAccumulated other comprehensive lossTreasury stock at costNon-controlling interestsTotal stockholders’ equity
SharesAmountSharesAmount
Balance at December 31, 2020115,119$548 90,792 $363 $3,760,029 $(176,822)$(941,986)$(365,316)$(12,882)$2,263,934 
Beginning retained earnings adjustment— — — — — (101)— — — (101)
Non-cash stock compensation— — — — 1,576 — — — — 1,576 
Conversion of Class B shares to Class A shares17,248 69 (17,248)(69)— — — — — — 
Purchase of treasury stock at cost(10,401)— — — — — — (145,806)— (145,806)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding247 1 — — (1,223)— — — — (1,222)
Accretion of redeemable noncontrolling interests and equity— — — — (20)— — — — (20)
Net loss— — — — — (164,928)— — (15)(164,943)
Foreign currency translation adjustment, net of tax of $0
— — — — — — (59,743)— (18)(59,761)
Minimum pension liability adjustment, net of tax of $0
— — — — — — (168)— — (168)
Balance at March 31, 2021122,213 $618 73,544 $294 $3,760,362 $(341,851)$(1,001,897)$(511,122)$(12,915)$1,893,489 
Non-cash stock compensation— — — — 3,202 — — — — 3,202 
Conversion of Class B shares to Class A shares2 — (2)— — — — — — — 
Purchase of treasury stock at cost(7,548)— — — — — — (105,786)— (105,786)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding119 1 — — 359 — — — — 360 
Accretion of redeemable noncontrolling interests and equity— — — — (68)— — — — (68)
Reclassification of redeemable noncontrolling interests and equity— — — — — — — — (1)(1)
Net loss— — — — — (29,000)— — (224)(29,224)
Foreign currency translation adjustment, net of tax of $0
— — — — — — 510,445 — (2)510,443 
Minimum pension liability adjustment, net of tax of $0
— — — — — — 27 — — 27 
Balance at June 30, 2021114,786 $619 73,542 $294 $3,763,855 $(370,851)$(491,425)$(616,908)$(13,142)$2,272,442 
Non-cash stock compensation— — — — 2,397 — — — — 2,397 
Conversion of Class B shares to Class A shares7,188 29 (7,188)(29)— — — — — — 
Purchase of treasury stock at cost(7,110)— — — — — — (112,994)— (112,994)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding119 — — — 304 — — — — 304 
Change in noncontrolling interests— — — — 90 — — — — 90 
Net income— — — — — 360,406 — — (269)360,137 
Special cash distribution accrued on outstanding common stock— — — — (1,271,790)— — — — (1,271,790)
Foreign currency translation adjustment, net of tax of $0
— — — — — — (22,648)— 21 (22,627)
Balance at September 30, 2021114,983 $648 66,354 $265 $2,494,856 $(10,445)$(514,073)$(729,902)$(13,390)$1,227,959 
The components of net changes in stockholders’ equity for the fiscal quarters of 2020 are as follows:
Laureate Education, Inc. Stockholders
Class A
Common Stock		Class B
Common Stock		Additional paid-in capitalRetained earningsAccumulated other comprehensive lossTreasury stock at costNon-controlling interestsTotal stockholders’ equity
SharesAmountSharesAmount
Balance at December 31, 2019119,575 $542 90,831 $363 $3,724,636 $436,509 $(1,073,981)$(271,106)$(12,812)$2,804,151 
Non-cash stock compensation— — — — 1,984 — — — — 1,984 
Conversion of Class B shares to Class A shares18 — (18)— — — — — — — 
Purchase of treasury stock at cost(1,619)— — — — — — (29,203)— (29,203)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding1,101 4 — — 25,610 — — — — 25,614 
Accretion of redeemable noncontrolling interests and equity— — — — (44)— — — — (44)
Reclassification of redeemable noncontrolling interests and equity— — — — — — — — 38 38 
Net income— — — — — 99,615 — — (1,299)98,316 
Foreign currency translation adjustment, net of tax of $0
— — — — — — (330,875)— 759 (330,116)
Minimum pension liability adjustment, net of tax of $0
— — — — — — (932)— — (932)
Balance at March 31, 2020119,075 $546 90,813 $363 $3,752,186 $536,124 $(1,405,788)$(300,309)$(13,314)$2,569,808 
Non-cash stock compensation— — — — 4,621 — — — — 4,621 
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding132 1 — — (33)— — — — (32)
Change in noncontrolling interests— — — — — — — — 3,471 3,471 
Accretion of redeemable noncontrolling interests and equity— — — — 201 — — — — 201 
Reclassification of redeemable noncontrolling interests and equity— — — — — — — — (414)(414)
Net loss— — — — — (307,823)— — (3,805)(311,628)
Foreign currency translation adjustment, net of tax of $0
— — — — — — 14,102 — (68)14,034 
Balance at June 30, 2020119,207 $547 90,813 $363 $3,756,975 $228,301 $(1,391,686)$(300,309)$(14,130)$2,280,061 
Non-cash stock compensation— — — — 3,672 — — — — 3,672 
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding63 — — — (35)— — — — (35)
Change in noncontrolling interests— — — — (2,610)— — — — (2,610)
Accretion of redeemable noncontrolling interests and equity— — — — 6 — — — — 6 
Reclassification of redeemable noncontrolling interests and equity— — — — — — — — 1,574 1,574 
Net loss— — — — — (784,442)— — 12 (784,430)
Foreign currency translation adjustment, net of tax of $0— — — — — — 326,416 — (74)326,342 
Balance at September 30, 2020119,270 $547 90,813 $363 $3,758,008 $(556,141)$(1,065,270)$(300,309)$(12,618)$1,824,580 

Stock Repurchase Program

On November 5, 2020, Laureate’s board of directors announced a stock repurchase program to acquire up to $300,000 of the Company’s Class A common stock. On April 30, 2021, the Company’s board of directors approved an increase of its existing authorization by $200,000, for a total repurchase authorization (including the previously authorized repurchases) of up to $500,000 of the Company’s Class A common stock. The Company’s repurchases may be made on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act). Repurchases may be effected pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act. The Company’s board of directors will review the share repurchase program periodically and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company expects
to finance the repurchases with free cash flow, from excess cash and liquidity on-hand, or from its revolving credit facility, or a combination thereof. During the nine months ended September 30, 2021, the Company repurchased 25,059 shares of its outstanding Class A common stock for a total purchase price of $364,586.

Special Cash Distribution

On September 15, 2021, the board of directors of the Company approved a plan of partial liquidation (the Partial Liquidation Plan) in connection with the previously disclosed sale of Walden e-Learning LLC. Pursuant to the Partial Liquidation Plan, the gross proceeds from the sale of the Walden Group, less expenses related to the sale, will be distributed to the Company’s stockholders before the end of calendar year 2022. Notwithstanding the adoption of the Partial Liquidation Plan, the Company expects to continue operating as a going concern and a publicly traded company.

On September 15, 2021 after the adoption of the Partial Liquidation Plan, the Board approved the payment of a special cash distribution (the Distribution) pursuant to the Partial Liquidation Plan equal to $7.01 per each share of the Company’s Class A common stock, par value $0.004 per share, and Class B common stock, par value $0.004 per share, to each holder of record of the common stock on October 6, 2021. The Distribution was paid on October 29, 2021, based on the number of shares outstanding on October 6, 2021. The aggregate amount of the Distribution was $806,652 for Class A common stock and $465,138 for Class B common stock for a total of $1,271,790. Nasdaq determined that the Company’s Class A common stock would trade with "due bills" representing an assignment of the right to receive the Distribution during the period from October 5, 2021 through and including October 29, 2021 (the Due Bill Period). Stockholders who sold their shares during the Due Bill Period were not entitled to receive the Distribution. The Company’s shares began trading ex-dividend on November 1, 2021, the first business day after the payment date.

Gross proceeds from the sale include $74,000 held in escrow and approximately $83,600 of restricted cash related to collateralized regulatory obligations associated with activities of the divested business. In accordance with the Partial Liquidation Plan, upon release of escrow amounts and restricted cash, the Company intends to subsequently distribute to stockholders any net proceeds from such amounts in the form of special distributions before December 31, 2022.

In connection with the Distribution, the board of directors approved certain required adjustments under the Company’s equity award compensation plans. These required equitable adjustments were effective on November 1, 2021 and will be recorded in the consolidated financial statements during the fourth quarter of 2021. The exercise prices of the Company’s options were reduced by $7.01 per share, and holders of restricted and performance stock units will receive an amount in cash equal to $7.01 per unvested stock unit, payable when such unit vests. If all outstanding stock units vest, the aggregate amount to be paid in respect of the units will be approximately $7,000.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) (AOCI) in our Consolidated Balance Sheets includes the accumulated translation adjustments arising from translation of foreign subsidiaries’ financial statements, the unrealized gains on derivatives designated as effective hedges, and the accumulated net gains or losses that are not recognized as components of net periodic benefit cost for our minimum pension liability. The change in AOCI includes the removal of the cumulative translation adjustment related to subsidiaries that were sold during the period. The components of these balances were as follows:
September 30, 2021December 31, 2020
Laureate Education, Inc.Noncontrolling InterestsTotalLaureate Education, Inc.Noncontrolling InterestsTotal
Foreign currency translation adjustment$(523,402)$959 $(522,443)$(951,456)$958 $(950,498)
Unrealized gain on derivatives10,416 — 10,416 10,416 — 10,416 
Minimum pension liability adjustment(1,087)— (1,087)(946)— (946)
Accumulated other comprehensive loss$(514,073)$959 $(513,114)$(941,986)$958 $(941,028)