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Acquisitions | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Acquisitions | Acquisitions 2017 Acquisitions During the three months ended June 30, 2017, Laureate consummated the business acquisition outlined below, which is included in our Consolidated Financial Statements commencing from the date of acquisition. Australia In June 2017, our EMEAA segment acquired the assets and business of the nursing division of Careers Australia (CA Nursing), a vocational institution in Australia, for a cash purchase price of AUD 1,107 (US $835 at the date of acquisition) plus debt assumed of AUD 9,850 (US $7,433 at the acquisition date). We account ed for this acquisition as a business combin ation. For this acquisition, Revenues, Operating income and Net (loss) income attributable to Laureate Education, Inc. were immaterial for the three months ended June 30, 2017. The Consolidated Financial Statements include the operating results of CA Nursing from the date of acquisition. The following table summarizes the estimated fair value of all assets acquired and the liabilities assumed at the date of acquisition.
| CA Nursing Australia
Current assets | $ | 610 |
Property and equipment | 9,657 |
Goodwill | 1,791 |
Other intangible assets | 3,988 |
Total assets acquired | 16,046 |
Current portion of long-term debt | 166 |
Other current liabilities | 6,034 |
Long-term debt, less current portion | 7,267 |
Other long-term liabilities | 1,744 |
Total liabilities | 15,211 |
Net assets acquired attributable to Laureate Education, Inc. | 835 |
Debt assumed | 7,433 |
Net assets acquired attributable to Laureate Education, Inc. plus debt assumed | $ | 8,268 |
Net assets acquired | $ | 835 |
Net cash paid at acquisition | $ | 835 |
2017 Summary The amounts recorded in the 2017 acquisition are provisional and Laureate is in the process of finalizing the amounts recorded for the assets and liabilities primarily related to goodwill, intangible assets and deferred revenue. None of the goodwill related to the 2017 acquisition is expected to be deductible for income tax purposes. Due to Shareholders of Acquired Companies The amounts due to shareholders of acquired companies generally arise in connection with Laureate’s acquisition of a majority or all of the ownership interest of these companies. Promissory notes payable to the sellers of acquired companies, referred to as “seller notes,” are commonly used as a means of payment for business acquisitions. Seller note payments are generally classified as Payments of deferred purchase price for acquisitions within financing activities in our Consolidated Statements of Cash Flows. The amounts due to shareholders of acquired companies, currencies, and interest rates applied were as follows:
| June 30, 2017 | December 31, 2016 | Nominal Currency | Interest Rate %
Faculdades Metropolitanas Unidas Educacionais (FMU) | $ | 105,811 |  | $ | 100,382 |  | BRL | CDI
Universidade Anhembi Morumbi (UAM Brazil) | 54,435 |  | 52,043 |  | BRL | CDI + 2%
Monash South Africa (MSA) | 30,081 |  | 27,462 |  | AUD | n/a, 6.75%
University of St. Augustine for Health Sciences, LLC (St. Augustine) | 11,550 |  | 11,550 |  | USD | 7%
Universidad Tecnologica Centroamericana (UNITEC Honduras) | 4,566 |  | 5,196 |  | HNL | IIBC
CH Holding Netherlands B.V. (CH Holding) | 3,798 |  | 8,587 |  | USD | n/a
Faculdade-Porto-Alegrense (FAPA) | 2,952 |  | 2,973 |  | BRL | IGP-M
IADE Group | 2,270 |  | 2,755 |  | EUR | 3%
Total due to shareholders of acquired companies | 215,463 |  | 210,948 |  |  |
Less: Current portion of due to shareholders of acquired companies | 133,083 |  | 118,679 |  |  |
Due to shareholders of acquired companies, less current portion | $ | 82,380 |  | $ | 92,269 |  |  |
AUD: Australian Dollar |  | CDI: Certificados de Depósitos Interbancários (Brazil)
BRL: Brazilian Real |  | IIBC: Índice de Inflación del Banco Central (Honduras)
EUR: European Euro |  | IGP-M: General Index of Market Prices (Brazil)
HNL: Honduran Lempira |  |
USD: United States Dollar |  |
IADE Group A working capital adjustment was recorded during the year ended December 31, 2015 in accordance with the purchase agreement entered into in connection with this acquisition. This liability of EUR 639 (US $694 at the date of payment) was settled during the quarter ended June 30, 2017. The remaining balance outstanding relates to two EUR 1,000 tranches to be paid 36 months and 60 months from the March 27, 2015 date of acquisition.

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