Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2023

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 units, and any other share-based compensation arrangements determined using the treasury stock method.

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


For the three months ended June 30,	2023		2022
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Income from continuing operations	$	60,350	$	39,414
Income attributable to noncontrolling interests	(136)		(136)








Net income from continuing operations for basic and diluted earnings per share	$	60,214	$	39,278




Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:



Net (loss) income from discontinued operations for basic and diluted earnings (loss) per share	$	(4,037)	$	4,145

Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average shares outstanding	157,185		167,119

Dilutive effect of stock options	217		224
Dilutive effect of restricted stock units	182		120
Diluted weighted average shares outstanding	157,584		167,463

Basic earnings (loss) per share:
Income from continuing operations	$	0.38	$	0.24
(Loss) income from discontinued operations	(0.03)		0.02
Basic earnings per share	$	0.35	$	0.26
Diluted earnings (loss) per share:
Income from continuing operations	$	0.38	$	0.23
(Loss) income from discontinued operations	(0.03)		0.02
Diluted earnings per share	$	0.35	$	0.25


For the six months ended June 30,	2023		2022
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Income (loss) from continuing operations	$	33,602	$	(6,001)
Loss attributable to noncontrolling interests	19		333








Net income (loss) from continuing operations for basic and diluted earnings (loss) per share	$	33,621	$	(5,668)




Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:



Net (loss) income from discontinued operations for basic and diluted (loss) earnings per share	$	(4,051)	$	4,880

Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average shares outstanding	157,191		172,511
Dilutive effect of stock options	210		—
Dilutive effect of restricted stock units	195		—
Diluted weighted average shares outstanding	157,596		172,511

Basic and diluted earnings (loss) per share:
Income (loss) from continuing operations	$	0.21	$	(0.03)
(Loss) income from discontinued operations	(0.03)		0.03
Basic and diluted earnings per share	$	0.18	$	—

The following table summarizes the number of stock options and restricted stock units that were excluded from the diluted EPS calculations because the effect would have been antidilutive:


	For the three months ended June 30,		For the six months ended June 30,
	2023	2022	2023	2022
Stock options	—	59	—	1,277
Restricted stock units	107	277	101	714