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Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 111,650 $ 85,167
Restricted cash 8,853 8,617
Receivables:    
Accounts and notes receivable 186,729 133,105
Other receivables 12,383 9,486
Allowance for doubtful accounts (71,174) (61,882)
Receivables, net 127,938 80,709
Income tax receivable 13,731 32,261
Prepaid expenses and other current assets 30,343 19,445
Current assets held for sale 1,066 0
Total current assets 293,581 226,199
Property and equipment:    
Land 136,760 127,154
Buildings 383,094 348,931
Furniture, equipment and software 557,574 494,004
Leasehold improvements 133,537 117,820
Construction in-progress 12,428 11,871
Accumulated depreciation and amortization (660,932) (576,373)
Property and equipment, net 562,461 523,407
Operating lease right-of-use assets, net 373,999 389,565
Goodwill 658,723 583,493
Tradenames, net 168,903 151,645
Deferred costs, net 5,065 5,310
Deferred income taxes 57,739 51,941
Other assets 40,399 40,677
Long-term assets held for sale 10,021 0
Total assets 2,170,891 1,972,237
Current liabilities:    
Accounts payable 36,955 42,842
Accrued expenses 72,711 50,563
Accrued compensation and benefits 84,474 85,215
Deferred revenue and student deposits 57,526 51,264
Current portion of operating leases 52,293 38,994
Current portion of long-term debt and finance leases 62,702 56,184
Income taxes payable 19,930 38,738
Other current liabilities 25,433 17,587
Current liabilities held for sale 1,388 0
Total current liabilities 413,412 381,387
Long-term operating leases, less current portion 358,740 376,898
Long-term debt and finance leases, less current portion 146,112 175,929
Deferred compensation 10,670 10,379
Income taxes payable 133,456 131,301
Deferred income taxes 92,607 89,765
Other long-term liabilities 32,943 30,823
Long-term liabilities held for sale 10,349 0
Total liabilities 1,198,289 1,196,482
Redeemable equity 1,398 1,398
Stockholders' equity:    
Preferred stock, par value $0.001 per share – 50,000 shares authorized, no shares issued and outstanding as of June 30, 2023 and December 31, 2022 0 0
Common stock, par value $0.004 per share – 700,000 shares authorized, 157,220 shares issued and outstanding as of June 30, 2023 and 230,779 shares issued and 157,013 shares outstanding as of December 31, 2022 629 923
Additional paid-in capital 1,181,501 2,204,755
Retained earnings 68,814 39,244
Accumulated other comprehensive loss (277,626) (442,424)
Treasury stock at cost (73,766 shares held at December 31, 2022) 0 (1,026,272)
Total Laureate Education, Inc. stockholders' equity 973,318 776,226
Noncontrolling interests (2,114) (1,869)
Total stockholders' equity 971,204 774,357
Total liabilities and stockholders' equity $ 2,170,891 $ 1,972,237