Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Effective October 29, 2021, each share of the Company's Class A common stock and each share of the Company's Class B common stock automatically converted into one share of common stock of the Company. Following the conversion, the Company has only one class of common stock outstanding. Prior to that, our common stock had a dual class structure, consisting of Class A common stock and Class B common stock. Other than voting rights, the Class B common stock had the same rights as the Class A common stock and therefore both were 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, and 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 other share-based compensation arrangements determined using the treasury stock method, and convertible securities using the if-converted method.

The following tables summarize the computations of basic and diluted earnings per share:


For the years ended December 31,	2021		2020		2019
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Loss from continuing operations	$	(283,080)	$	(320,598)	$	(150,483)
Net (income) loss attributable to noncontrolling interests	(11,839)		17		(98)
Loss from continuing operations attributable to Laureate Education, Inc.	(294,919)		(320,581)		(150,581)

Accretion of redemption value of redeemable noncontrolling interests and equity	(88)		149		(208)



Net loss from continuing operations available to common stockholders for basic and diluted earnings per share	(295,007)		(320,432)		(150,789)


Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
Income (loss) from discontinued operations, net of tax	486,865		(298,104)		1,088,147
Loss attributable to noncontrolling interests	500		5,354		918

Net income (loss) from discontinued operations for basic and diluted earnings per share	$	487,365	$	(292,750)	$	1,089,065

Denominator used in basic and diluted earnings (loss) per common share:
Basic and diluted weighted average shares outstanding	189,692		209,710		221,928




Basic and diluted earnings (loss) per share:




Loss from continuing operations	$	(1.56)	$	(1.53)	$	(0.68)
Income (loss) from discontinued operations	2.57		(1.40)		4.91
Basic and diluted earnings (loss) per share	$	1.01	$	(2.93)	$	4.23

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 years ended December 31,	2021	2020	2019
Stock options	2,953	4,040	8,740
Restricted stock and RSUs	899	1,021	1,090