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Stockholders' Equity
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity The components of net changes in stockholders’ equity for the fiscal quarters of 2022 are as follows:
Laureate Education, Inc. Stockholders
Common stockAdditional paid-in capitalRetained earnings (accumulated deficit)Accumulated other comprehensive lossTreasury stock at costNon-controlling interestsTotal stockholders’ equity
SharesAmount
Balance at December 31, 2021180,611 $915 $2,388,783 $15,523 $(520,204)$(744,174)$(1,285)$1,139,558 
Non-cash stock compensation— — 2,762 — — — — 2,762 
Purchase of treasury stock at cost(9,485)— — — — (112,874)— (112,874)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding1,379 6 10,716 — — — — 10,722 
Equitable adjustments to stock-based awards— — (189)— — — — (189)
Net loss— — — (44,211)— — (469)(44,680)
Foreign currency translation adjustment, net of tax of $0
— — — — 49,573 — 2 49,575 
Minimum pension liability adjustment, net of tax of $0
— — — — 14 — — 14 
Balance at March 31, 2022172,505 $921 $2,402,072 $(28,688)$(470,617)$(857,048)$(1,752)$1,044,888 
Non-cash stock compensation— — 2,360 — — — — 2,360 
Purchase of treasury stock at cost(8,013)— — — — (93,362)— (93,362)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding171 1 (472)— — — — (471)
Equitable adjustments to stock-based awards— — (35)— — — — (35)
Change in noncontrolling interests— — 2 — — — (2)— 
Reclassification of redeemable equity to non-redeemable equity— — 316 — — — — 316 
Net income— — — 43,423 — — 136 43,559 
Foreign currency translation adjustment, net of tax of $0
— — — — 17,969 — 3 17,972 
Balance at June 30, 2022164,663 $922 $2,404,243 $14,735 $(452,648)$(950,410)$(1,615)$1,015,227 
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 

Effective October 29, 2021, each share of Company Class A common stock and each share of Company 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.

Stock Repurchase Program

On March 14, 2022, the Company announced that its Board of Directors had approved an increase of $50,000 to the existing authorization to repurchase shares of the Company’s common stock under its share repurchase program, for a total authorization of $650,000. The authorizations do not have an expiration date. 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 six months ended June 30, 2022, the Company repurchased 17,498 shares of its outstanding common stock for a total purchase price of $206,236.
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 gain on a derivative designated as an effective net investment hedge, and the accumulated net gains or losses that are not recognized as components of net periodic benefit cost for our minimum pension liability. The AOCI related to the net investment hedge will be deferred from earnings until the sale or liquidation of the hedged investee. The components of these balances were as follows:
June 30, 2022December 31, 2021
Laureate Education, Inc.Noncontrolling InterestsTotalLaureate Education, Inc.Noncontrolling InterestsTotal
Foreign currency translation adjustment$(461,930)$951 $(460,979)$(529,472)$946 $(528,526)
Unrealized gain on derivatives10,416 — 10,416 10,416 — 10,416 
Minimum pension liability adjustment(1,134)— (1,134)(1,148)— (1,148)
Accumulated other comprehensive loss$(452,648)$951 $(451,697)$(520,204)$946 $(519,258)