Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Earnings (Loss) Per Share 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 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.

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


For the years ended December 31,	2022		2021		2020
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Income (loss) from continuing operations	$	60,718	$	(283,080)	$	(320,598)
Net loss (income) attributable to noncontrolling interests	595		(11,839)		17
Income (loss) from continuing operations attributable to Laureate Education, Inc.	61,313		(294,919)		(320,581)

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



Net income (loss) from continuing operations available to common stockholders for basic and diluted earnings per share	61,313		(295,007)		(320,432)

Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
Income (loss) from discontinued operations, net of tax	8,260		486,865		(298,104)
Loss attributable to noncontrolling interests	—		500		5,354

Net income (loss) from discontinued operations for basic and diluted earnings per share	$	8,260	$	487,365	$	(292,750)

Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average shares outstanding	167,670		189,692		209,710
Effect of dilutive stock options	310		—		—
Effect of dilutive restricted stock units	288		—		—
Diluted weighted average shares outstanding	168,268		189,692		209,710

Basic earnings (loss) per share:
Income (loss) from continuing operations	$	0.37	$	(1.56)	$	(1.53)
Income (loss) from discontinued operations	0.05		2.57		(1.40)
Basic earnings (loss) per share	$	0.42	$	1.01	$	(2.93)
Diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.36	$	(1.56)	$	(1.53)
Income (loss) from discontinued operations	0.05		2.57		(1.40)
Diluted earnings (loss) per share	$	0.41	$	1.01	$	(2.93)

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,	2022	2021	2020
Stock options	40	2,953	4,040
Restricted stock and RSUs	237	899	1,021