Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2021

Our common stock has a dual class structure, consisting of 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 September 30,	2021		2020
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Loss from continuing operations	$	(10,390)	$	(271,040)
Income attributable to noncontrolling interests	(17)		(7)
Loss from continuing operations attributable to Laureate Education, Inc.	(10,407)		(271,047)

Accretion of redemption value of redeemable noncontrolling interests and equity	—		6





Net loss from continuing operations for basic and diluted earnings (loss) per share	$	(10,407)	$	(271,041)




Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
Income (loss) from discontinued operations, net of tax	$	370,527	$	(513,390)
Loss (income) attributable to noncontrolling interests	286		(5)

Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share	$	370,813	$	(513,395)

Denominator used in basic and diluted earnings (loss) per common share:
Basic and diluted weighted average shares outstanding	185,569		210,033





Basic and diluted earnings (loss) per share:
Loss from continuing operations	$	(0.06)	$	(1.29)
Income (loss) from discontinued operations	2.00		(2.44)
Basic and diluted earnings (loss) per share	$	1.94	$	(3.73)


For the nine months ended September 30,	2021		2020
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Loss from continuing operations	$	(290,800)	$	(76,503)
Loss attributable to noncontrolling interests	9		27
Loss from continuing operations attributable to Laureate Education, Inc.	(290,791)		(76,476)

Accretion of redemption value of redeemable noncontrolling interests and equity	(88)		163





Net loss from continuing operations for basic and diluted loss per share	$	(290,879)	$	(76,313)




Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
Income (loss) from discontinued operations, net of tax	$	456,770	$	(921,239)
Loss attributable to noncontrolling interests	499		5,065

Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share	$	457,269	$	(916,174)

Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average shares outstanding	192,543		209,920




Basic and diluted earnings (loss) per share:
Loss from continuing operations	$	(1.51)	$	(0.36)
Income (loss) from discontinued operations	2.37		(4.36)
Basic and diluted earnings (loss) per share	$	0.86	$	(4.72)

The following table summarizes the number of stock options and shares of restricted stock units 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,
	2021	2020	2021	2020
Stock options	2,845	3,838	3,162	4,205
Restricted stock units	687	727	698	732