Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2023

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,	2023		2022		2021
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Income (loss) from continuing operations	$	117,029	$	60,718	$	(283,080)
Net loss (income) attributable to noncontrolling interests	323		595		(11,839)
Income (loss) from continuing operations attributable to Laureate Education, Inc.	117,352		61,313		(294,919)

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



Net income (loss) from continuing operations available to common stockholders for basic and diluted earnings per share	$	117,352	$	61,313	$	(295,007)

Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
(Loss) income from discontinued operations, net of tax	$	(9,762)	$	8,260	$	486,865
Loss attributable to noncontrolling interests	—		—		500
Net (loss) income from discontinued operations for basic and diluted earnings per share	$	(9,762)	$	8,260	$	487,365

Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average shares outstanding	157,256		167,670		189,692
Effect of dilutive stock options	237		310		—
Effect of dilutive restricted stock units	386		288		—
Diluted weighted average shares outstanding	157,879		168,268		189,692

Basic earnings per share:
Income (loss) from continuing operations	$	0.75	$	0.37	$	(1.56)
(Loss) income from discontinued operations	(0.06)		0.05		2.57
Basic earnings per share	$	0.69	$	0.42	$	1.01
Diluted earnings per share:
Income (loss) from continuing operations	$	0.74	$	0.36	$	(1.56)
(Loss) income from discontinued operations	(0.06)		0.05		2.57
Diluted earnings per share	$	0.68	$	0.41	$	1.01

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,	2023	2022	2021
Stock options	—	40	2,953
Restricted stock and RSUs	4	237	899