Stockholders' Equity

The components of net changes in stockholders' equity were as follows:



	Laureate Education, Inc. Stockholders
	Class A Common Stock			Class B Common Stock				Additional paid-in capital			(Accumulated deficit) retained earnings			Accumulated other comprehensive (loss) income			Non-controlling interests			Total stockholders' equity
	Shares	Amount		Shares		Amount
Balance at December 31, 2017	55,052	$	220	132,443		$	530	$	3,446,206		$	(946,236	)	$	(925,556	)	$	12,118		$	1,587,282
Adoption of accounting standards	—	—		—		—		—			4,330			—			—			4,330
Balance at January 1, 2018	55,052	220		132,443		530		3,446,206			(941,906		)	(925,556		)	12,118			1,591,612
Non-cash stock compensation	—	—		—		—		3,931			—			—			—			3,931
Conversion of Class B shares to Class A shares	86	—		(86	)	—		—			—			—			—			—
Vesting of restricted stock, net of shares withheld to satisfy tax withholding	333	2		59		—		(1,746		)	—			—			—			(1,744		)
Distributions to noncontrolling interest holders	—	—		—		—		—			—			—			(892		)	(892		)
Change in noncontrolling interests	—	—		—		—		(468		)	—			—			(23,305		)	(23,773		)
Accretion of redeemable noncontrolling interests and equity	—	—		—		—		806			—			—			—			806
Accretion of Series A Preferred Stock	—	—		—		—		(61,974		)	—			—			—			(61,974		)
Gain upon conversion of Series A Preferred Stock	—	—		—		—		74,110			—			—			—			74,110
Reclassification of Series A Preferred Stock upon conversion	36,143	144		—		—		237,957			—			—			—			238,101
Reclassification of redeemable noncontrolling interests and equity	—	—		—		—		—			—			—			19			19
Net income	—	—		—		—		—			393,289			—			2,210			395,499
Foreign currency translation adjustment, net of tax of $0	—	—		—		—		—			—			(113,495		)	192			(113,303		)
Unrealized gain on derivatives, net of tax of $0	—	—		—		—		—			—			12,336			—			12,336
Minimum pension liability adjustment, net of tax of $0	—	—		—		—		—			—			376			—			376
Balance at June 30, 2018	91,614	$	366	132,416		$	530	$	3,698,822		$	(548,617	)	$	(1,026,339	)	$	(9,658	)	$	2,115,104

As described in Note 2, Significant Accounting Policies, the change in opening retained earnings from the adoption of accounting standards comprises an increase of approximately $1,400 from the cumulative impact of adopting Topic 606 and an increase of approximately $2,900 from the cumulative impact of adopting ASU 2016-16.

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (AOCI) in our Consolidated Balance Sheets includes the accumulated translation adjustments arising from translation of foreign subsidiaries' financial statements, the unrealized gains on derivatives designated as cash flow hedges, and the accumulated net gains or losses that are not recognized as components of net periodic benefit cost for our minimum pension liability. The components of these balances were as follows:



	June 30, 2018								December 31, 2017
	Laureate Education, Inc.			Noncontrolling Interests		Total			Laureate Education, Inc.			Noncontrolling Interests			Total
Foreign currency translation loss	$	(1,040,716	)	$	159	$	(1,040,557	)	$	(927,221	)	$	(33	)	$	(927,254	)
Unrealized gain on derivatives	16,993			—		16,993			4,657			—			4,657
Minimum pension liability adjustment	(2,616		)	—		(2,616		)	(2,992		)	—			(2,992		)
Accumulated other comprehensive loss	$	(1,026,339	)	$	159	$	(1,026,180	)	$	(925,556	)	$	(33	)	$	(925,589	)