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Acquisitions
 12 Months Ended
Dec. 31, 2020
Business Combinations [Abstract]  
Acquisitions Acquisitions
We had no material acquisitions in 2019 or 2020.

2018 Acquisition in Peru

On November 5, 2018, Laureate Education Peru, SRL, an indirect wholly owned subsidiary of the Company, acquired all of the capital stock of Instituto de Educación Superior Tecnológico Privado Red Avansys SAC (Avansys), an institution in Peru, for a total purchase price of approximately 63,000 Peruvian Nuevo Sols (approximately $18,900 at the acquisition date), plus debt assumed. The cash paid at acquisition, net of cash acquired, was $17,019. We accounted for this acquisition as a business combination. For this acquisition, Revenues, Operating (loss) income and Net (loss) income attributable to Laureate Education, Inc. were immaterial for the year ended December 31, 2018.

The following table summarizes the estimated fair value of all assets acquired and the liabilities assumed at the date of acquisition:
Avansys
Peru
Current assets$3,921 
Property and equipment13,673 
Goodwill4,658 
Other long-term assets815 
Total assets acquired23,067 
Current portion of long-term debt874 
Other current liabilities3,332 
Total liabilities assumed4,206 
Net assets acquired attributable to Laureate Education, Inc.
18,861 
Debt assumed874 
Net assets acquired attributable to Laureate Education, Inc. plus debt assumed
$19,735 
Net assets acquired$18,861 
Cash acquired(1,842)
Net cash paid at acquisition$17,019 

2018 Summary

The amounts recorded for the 2018 acquisition are considered final. None of the goodwill related to the 2018 acquisition is expected to be deductible for income tax purposes. Pro forma results of operations have not been presented because the effects of the acquisition were not material to the Company’s financial results.