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Earnings (Loss) Per Share | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Earnings (Loss) Per Share On January 31, 2017, our common stock was reclassified into shares of Class B common stock and, on February 6, 2017, we completed our IPO of Class A common stock. Other than voting rights, the Class B common stock has the same rights as the Class A common stock and therefore both are 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, contingently issuable shares, and convertible securities 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, and convertible securities using the if-converted method. The following tables summarize the computations of basic and diluted earnings per share:
For the years ended December 31, | 2019 |  | 2018 |  | 2017
Numerator used in basic and diluted earnings (loss) per common share for continuing operations: |  |  |  |  |
Income (loss) from continuing operations | $ | 13,961 |  |  | $ | (10,534 | ) |  | $ | 16,374 |
Net income attributable to noncontrolling interests | (99 | ) |  | (141 | ) |  | (79 | )
Income (loss) from continuing operations attributable to Laureate Education, Inc. | 13,862 |  |  | (10,675 | ) |  | 16,295 |
Accretion of redemption value of redeemable noncontrolling interests and equity | (208 | ) |  | (292 | ) |  | 317 |
Adjusted for: accretion related to noncontrolling interests and equity redeemable at fair value | — |  |  | (559 | ) |  | (6,358 | )
Accretion of Series A Preferred Stock | — |  |  | (61,974 | ) |  | (292,450 | )
Gain upon conversion of Series A Preferred Stock | — |  |  | 74,110 |  |  | — |
Distributed and undistributed earnings to participating securities | — |  |  | — |  |  | (1 | )
Subtotal: accretion of Series A Preferred Stock, net, and other redeemable noncontrolling interests and equity | (208 | ) |  | 11,285 |  |  | (298,492 | )
Net income (loss) from continuing operations available to common stockholders for basic earnings per share | 13,654 |  |  | 610 |  |  | (282,197 | )
Adjusted for: accretion of Series A Preferred Stock | — |  |  | 61,974 |  |  | — |
Adjusted for: gain upon conversion of Series A Preferred Stock | — |  |  | (74,110 | ) |  | — |
Net income (loss) from continuing operations available to common stockholders for diluted earnings per share | $ | 13,654 |  |  | $ | (11,526 | ) |  | $ | (282,197 | )
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: |  |  |  |  |
Income from discontinued operations, net of tax | $ | 53,941 |  |  | $ | 84,884 |  |  | $ | 77,390 |
Gain on sale of discontinued operations, net of tax | 869,762 |  |  | 296,580 |  |  | — |
Loss (income) attributable to noncontrolling interests | 919 |  |  | (722 | ) |  | (2,220 | )
Allocation of earnings from discontinued operations to participating securities | — |  |  | — |  |  | (5 | )
Net income from discontinued operations for basic and diluted earnings per share | $ | 924,622 |  |  | $ | 380,742 |  |  | $ | 75,165 |
Denominator used in basic and diluted earnings (loss) per common share: |  |  |  |  |
Basic weighted average shares outstanding | 221,928 |  |  | 212,769 |  |  | 172,409 |
Effect of dilutive stock options | 27 |  |  | — |  |  | — |
Effect of dilutive restricted stock units | 516 |  |  | — |  |  | — |
Dilutive weighted average shares outstanding | 222,471 |  |  | 212,769 |  |  | 172,409 |
Basic earnings (loss) per share: |  |  |  |  |
Income (loss) from continuing operations | $ | 0.06 |  |  | $ | — |  |  | $ | (1.64 | )
Income from discontinued operations | 4.17 |  |  | 1.79 |  |  | 0.44 |
Basic earnings (loss) per share | $ | 4.23 |  |  | $ | 1.79 |  |  | $ | (1.20 | )
Diluted earnings (loss) per share: |  |  |  |  |
Income (loss) from continuing operations | $ | 0.06 |  |  | $ | (0.06 | ) |  | $ | (1.64 | )
Income from discontinued operations | 4.16 |  |  | 1.79 |  |  | 0.44 |
Diluted earnings (loss) per share | $ | 4.22 |  |  | $ | 1.73 |  |  | $ | (1.20 | )
In the calculation of diluted EPS for 2018, the conversion of the Series A Preferred Stock, which occurred on April 23, 2018, was assumed to have occurred as of the beginning of the period; accordingly, the effects of the accretion and the gain upon conversion of the Series A Preferred Stock were removed from net income available to common stockholders for diluted earnings per share. 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, | 2019 |  | 2018 |  | 2017
Stock options | 8,512 |  |  | 9,387 |  |  | 12,497 |
Restricted stock and RSUs | 6 |  |  | 1,300 |  |  | 986 |

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