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Earnings (Loss) Per Share | 9 Months Ended
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Sep. 30, 2020
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Earnings (Loss) Per Share We have two classes of common stock, Class A common stock and Class B 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, or 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 any contingently issuable shares determined using the treasury stock method, and any convertible securities using the if-converted method. The following tables summarize the computations of basic and diluted earnings (loss) per share:
For the three months ended September 30, | 2020 |  | 2019 |  |
Numerator used in basic and diluted earnings (loss) per common share for continuing operations: |  |  |  |  |
Loss from continuing operations | $ | (271,040) |  |  | $ | (86,649) |  |  |
Net income attributable to noncontrolling interests | (7) |  |  | (12) |  |  |
Loss from continuing operations attributable to Laureate Education, Inc. | (271,047) |  |  | (86,661) |  |  |
Accretion of redemption value of redeemable noncontrolling interests and equity | 6 |  |  | (193) |  |  |
Net loss from continuing operations for basic and diluted earnings (loss) per share | $ | (271,041) |  |  | $ | (86,854) |  |  |
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: |  |  |  |  |
(Loss) income from discontinued operations, net of tax | $ | (169,768) |  |  | $ | 30,986 |  |  |
Loss on sales of discontinued operations, net of tax | (343,622) |  |  | (41,131) |  |  |
(Income) loss attributable to noncontrolling interests | (5) |  |  | 1,580 |  |  |
Net loss from discontinued operations for basic and diluted earnings (loss) per share | $ | (513,395) |  |  | $ | (8,565) |  |  |
Denominator used in basic and diluted earnings (loss) per common share: |  |  |  |  |
Basic and diluted weighted average shares outstanding | 210,033 |  |  | 224,193 |  |  |
Basic and diluted earnings (loss) per share: |  |  |  |  |
Loss from continuing operations | $ | (1.29) |  |  | $ | (0.39) |  |  |
Loss from discontinued operations | (2.44) |  |  | (0.04) |  |  |
Basic and diluted loss per share | $ | (3.73) |  |  | $ | (0.43) |  |  |
For the nine months ended September 30, | 2020 |  | 2019
Numerator used in basic and diluted earnings (loss) per common share for continuing operations: |  |  |
Loss from continuing operations | $ | (76,503) |  |  | $ | (211,676) |
Net loss (income) attributable to noncontrolling interests | 27 |  |  | (61) |
Loss from continuing operations attributable to Laureate Education, Inc. | (76,476) |  |  | (211,737) |
Accretion of redemption value of redeemable noncontrolling interests and equity | 163 |  |  | 264 |
Net loss from continuing operations for basic and diluted earnings (loss) per share | $ | (76,313) |  |  | $ | (211,473) |
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: |  |  |
(Loss) income from discontinued operations, net of tax | $ | (557,951) |  |  | $ | 240,373 |
(Loss) gain on sales of discontinued operations, net of tax | (363,288) |  |  | 848,390 |
Loss attributable to noncontrolling interests | 5,065 |  |  | 583 |
Net (loss) income from discontinued operations for basic and diluted earnings (loss) per share | $ | (916,174) |  |  | $ | 1,089,346 |
Denominator used in basic and diluted earnings (loss) per common share: |  |  |
Basic and diluted weighted average shares outstanding | 209,920 |  |  | 224,498 |
Basic and diluted earnings (loss) per share: |  |  |
Loss from continuing operations | $ | (0.36) |  |  | $ | (0.94) |
(Loss) income from discontinued operations | (4.36) |  |  | 4.85 |
Basic and diluted (loss) earnings per share | $ | (4.72) |  |  | $ | 3.91 |
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 three months ended September 30, |  | For the nine months ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Stock options | 3,838 |  |  | 8,650 |  |  | 4,205 |  |  | 8,956 |
Restricted stock and RSUs | 727 |  |  | 733 |  |  | 732 |  |  | 854 |

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