Business and Geographic Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Segment Financial Information

The following tables provide financial information for our reportable segments, including a reconciliation of Adjusted EBITDA to Loss from continuing operations before income taxes and equity in net income of affiliates, as reported in the Consolidated Statements of Operations, for the years ended December 31, 2021, 2020 and 2019:


	Mexico		Peru		Corporate		Total
2021
Revenues	$	540,429	$	537,056	$	9,216	$	1,086,701

Depreciation and amortization expense	29,461		24,196		47,574		101,231
Loss on impairment of assets	9,319		—		63,169		72,488
Total assets	1,251,791		598,862		360,657		2,211,310
Expenditures for long-lived assets	23,121		19,029		2,895		45,045
2020
Revenues	$	534,607	$	482,878	$	7,432	$	1,024,917

Depreciation and amortization expense	29,032		26,962		27,139		83,133
Loss on impairment of assets	989		—		350,982		351,971
Total assets	1,278,198		623,294		3,069,402		4,970,894
Expenditures for long-lived assets	13,377		18,505		8,376		40,258
2019
Revenues	$	652,846	$	546,751	$	12,473	$	1,212,070

Depreciation and amortization expense	31,132		27,703		23,145		81,980
Loss on impairment of assets	—		—		248		248
Expenditures for long-lived assets	30,239		23,837		18,825		72,901

In order to reconcile to total consolidated assets as of December 31, 2021 and 2020 in the table above, assets held for sale related to Discontinued Operations of $6,164 and $1,917,435, respectively, are included in the Corporate amounts.


For the years ended December 31,	2021		2020		2019
Adjusted EBITDA of reportable segments:

Mexico	$	95,812	$	112,917	$	147,807
Peru	245,677		189,488		197,828



Total Adjusted EBITDA of reportable segments	341,489		302,405		345,635
Reconciling items:
Corporate	(88,102)		(96,708)		(142,014)
Depreciation and amortization expense	(101,231)		(83,133)		(81,980)
Loss on impairment of assets	(72,488)		(351,971)		(248)
Share-based compensation expense	(8,895)		(10,248)		(10,325)
EiP expenses	(75,420)		(89,647)		(75,048)

Operating (loss) income	(4,647)		(329,302)		36,020
Interest income	4,378		2,169		3,294
Interest expense	(46,275)		(100,894)		(125,042)
Loss on debt extinguishment	(77,940)		(610)		(22,601)
(Loss) gain on derivatives	(24,517)		(25,980)		8,300

Other (expense) income, net	(1,695)		(2,420)		8,922
Foreign currency exchange gain (loss), net	13,791		13,474		(8,125)
Loss on disposals of subsidiaries, net	(602)		(7,276)		(20,429)
Loss from continuing operations before income taxes and equity in net income of affiliates	$	(137,507)	$	(450,839)	$	(119,661)

Schedule of Revenue From Customers By Geographical Area

Revenues from customers by geographic area, primarily generated by students enrolled at institutions in those areas, were as follows:


For the years ended December 31,	2021		2020		2019
External Revenues(1)
Mexico	$	539,549	$	532,530	$	650,593

Peru	537,056		482,819		545,291

United States	10,096		9,509		15,189
Other foreign countries	—		59		997
Consolidated total	$	1,086,701	$	1,024,917	$	1,212,070

(1) Excludes intercompany revenues and therefore does not agree to the table above

Schedule of Long-Lived Assets By Geographic Areas

Long-lived assets are composed of Property and equipment, net. Laureate’s long-lived assets of Continuing Operations by geographic area were as follows:


December 31,	2021		2020
Long-lived assets
Mexico	$	206,745	$	229,613

Peru	281,057		323,020

United States	11,715		25,851

Consolidated total	$	499,517	$	578,484