XML 77 R36.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2017
Accounting Policies [Abstract] |
Schedule of variable interest entities | The VIEs in Brazil and Mexico include several not-for-profit foundations that have insignificant revenues and operating expenses. Selected Consolidated Statements of Operations information for VIEs was as follows, net of the charges related to the above-described contractual arrangements:
For the years ended December 31, | 2017 |  | 2016 | 2015
Selected Statements of Operations information: |  |  |  |
Revenues, by segment: |  |  |  |
Brazil | $ | 104 |  |  | $ | — |  | $ | — |
Mexico | — |  |  | — |  | 9 |
Andean & Iberian | 418,019 |  |  | 380,145 |  | 363,486 |
Central America & U.S. Campuses | 61,919 |  |  | 57,838 |  | 54,333 |
EMEAA | 265,776 |  |  | 273,065 |  | 264,539 |
Revenues | 745,818 |  |  | 711,048 |  | 682,367 |
Depreciation and amortization | 49,130 |  |  | 51,708 |  | 53,019 |
Operating (loss) income, by segment: |  |  |  |
Brazil | (1 | ) |  | (80 | ) | (18 | )
Mexico | (876 | ) |  | (967 | ) | (1,330 | )
Andean & Iberian | (4,900 | ) |  | (17,166 | ) | (12,849 | )
Central America & U.S. Campuses | 274 |  |  | 390 |  | (593 | )
EMEAA | 32,960 |  |  | 29,002 |  | 22,852 |
Operating income | 27,457 |  |  | 11,179 |  | 8,062 |
Net income | 46,348 |  |  | 35,075 |  | 11,760 |
Net income attributable to Laureate Education, Inc. | 43,180 |  |  | 33,033 |  | 11,538 |
Included in net income for the VIEs in the table above is non-operating investment income that was recorded by three of the Chilean institutions relating to investments that these institutions have in a for-profit, education-related real estate subsidiary of Laureate in Chile. This non-operating investment income, which eliminated in consolidation, totaled $11,696, $11,061 and $10,297 for the years ended December 31, 2017, 2016 and 2015, respectively. The following table reconciles the Net income (loss) attributable to Laureate Education, Inc. as presented in the table above, to the amounts in our Consolidated Statements of Operations:
For the years ended December 31, | 2017 |  | 2016 |  | 2015
Net income (loss) attributable to Laureate Education, Inc.: |  |  |  |  |
Variable interest entities | $ | 43,180 |  |  | $ | 33,033 |  |  | $ | 11,538 |
Other operations | 482,822 |  |  | 520,087 |  |  | 118,488 |
Corporate and eliminations | (434,537 | ) |  | (181,273 | ) |  | (446,274 | )
Net income (loss) attributable to Laureate Education, Inc. | $ | 91,465 |  |  | $ | 371,847 |  |  | $ | (316,248 | )
The following table presents selected assets and liabilities of the consolidated VIEs. Except for Goodwill, the assets in the table below include the assets that can be used only to settle the obligations for the VIEs. The liabilities in the table are liabilities for which the creditors of the VIEs do not have recourse to the general credit of Laureate. Selected Consolidated Balance Sheet amounts for these VIEs were as follows:
| December 31, 2017 |  | December 31, 2016
| VIE |  | Consolidated |  | VIE |  | Consolidated
Balance Sheets data: |  |  |  |  |  |  |
Cash and cash equivalents | $ | 231,940 |  |  | $ | 468,733 |  |  | $ | 169,074 |  |  | $ | 464,965 |
Current assets held for sale | 22,246 |  |  | 102,623 |  |  | — |  |  | — |
Other current assets | 153,129 |  |  | 717,498 |  |  | 153,136 |  |  | 650,836 |
Total current assets | 407,315 |  |  | 1,288,854 |  |  | 322,210 |  |  | 1,115,801 |
Goodwill | 192,230 |  |  | 1,954,666 |  |  | 181,669 |  |  | 1,934,464 |
Tradenames | 110,577 |  |  | 1,295,614 |  |  | 104,117 |  |  | 1,307,633 |
Other intangible assets, net | — |  |  | 35,927 |  |  | — |  |  | 46,700 |
Long-term assets held for sale | 185,139 |  |  | 392,391 |  |  | — |  |  | — |
Other long-term assets | 524,318 |  |  | 2,424,271 |  |  | 701,117 |  |  | 2,657,872 |
Total assets | 1,419,579 |  |  | 7,391,723 |  |  | 1,309,113 |  |  | 7,062,470 |
Current liabilities held for sale | 64,895 |  |  | 176,719 |  |  | — |  |  | — |
Other current liabilities | 276,252 |  |  | 1,198,030 |  |  | 320,922 |  |  | 1,440,232 |
Long-term liabilities held for sale | 41,732 |  |  | 94,407 |  |  | — |  |  | — |
Long-term debt and other long-term liabilities | 66,682 |  |  | 3,921,288 |  |  | 103,375 |  |  | 4,601,013 |
Total liabilities | 449,561 |  |  | 5,390,444 |  |  | 424,297 |  |  | 6,041,245 |
Total stockholders' equity | 970,018 |  |  | 1,587,282 |  |  | 884,816 |  |  | 664,392 |
Total stockholders' equity attributable to Laureate Education, Inc. | 948,966 |  |  | 1,575,164 |  |  | 866,997 |  |  | 632,210 |
Schedule of balances of the allowance for doubtful accounts | The reconciliations of the beginning and ending balances of the Allowance for doubtful accounts were as follows:
For the years ended December 31, | 2017 |  | 2016 |  | 2015
Balance at beginning of period | $ | 196,270 |  |  | $ | 161,658 |  |  | $ | 170,140 |
Additions: charges to bad debt expense | 124,308 |  |  | 108,019 |  |  | 107,162 |
Additions: charges to other accounts (a) | — |  |  | 6,908 |  |  | — |
Deductions (b) | (116,326 | ) |  | (80,315 | ) |  | (115,644 | )
Balance at end of period | $ | 204,252 |  |  | $ | 196,270 |  |  | $ | 161,658 |
(a) Charges to other accounts includes reclassifications. (b) Deductions includes accounts receivable written off against the allowance (net of recoveries), reclassifications, and foreign currency translation. The beginning and ending balances of the Allowance for doubtful accounts include the current portion, as shown on the face of Consolidated Balance Sheets, in addition to the noncurrent portion that is included in Notes receivable, net on the Consolidated Balance Sheets. Laureate’s financing receivables balances were as follows:
| December 31, 2017 |  | December 31, 2016
Financing receivables | $ | 22,977 |  |  | $ | 29,776 |
Allowance for doubtful accounts | (8,411 | ) |  | (9,175 | )
Financing receivables, net of allowances | $ | 14,566 |  |  | $ | 20,601 |
Schedule of depreciation and amortization periods | Depreciation and amortization periods are as follows:
Buildings | 10-50 years
Furniture, equipment and software | 2-10 years
Leasehold improvements | 2-25 years
Schedule of components of revenue | The following table shows the components of Revenues as a percentage of total net revenue for the periods presented:
For the years ended December 31, | 2017 |  | 2016 |  | 2015
Tuition and educational services | $ | 4,915,415 |  | 112 | % |  | $ | 4,640,159 |  | 109 | % |  | $ | 4,562,704 |  | 106 | %
Student fees | 137,525 |  | 3 | % |  | 126,510 |  | 3 | % |  | 129,521 |  | 3 | %
Dormitory / residency | 29,481 |  | 1 | % |  | 65,644 |  | 2 | % |  | 75,759 |  | 2 | %
Other | 225,537 |  | 5 | % |  | 201,886 |  | 5 | % |  | 225,785 |  | 5 | %
Gross revenue | 5,307,958 |  | 121 | % |  | 5,034,199 |  | 119 | % |  | 4,993,769 |  | 116 | %
Less: Discounts / waivers / scholarships | (929,969 | ) | (21 | )% |  | (790,007 | ) | (19 | )% |  | (702,110 | ) | (16 | )%
Total | $ | 4,377,989 |  | 100 | % |  | $ | 4,244,192 |  | 100 | % |  | $ | 4,291,659 |  | 100 | %

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_PropertyPlantAndEquipmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5747-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6228884-111685 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5728-111685 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=77990344&loc=SL6759159-111685 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=77990344&loc=d3e5710-111685 + Details
Name: | us-gaap_ScheduleOfVariableInterestEntitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration