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Business and Geographic Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Schedule of Segment Financial Information | The following tables provide financial information for our reportable segments, including a reconciliation of Adjusted EBITDA to Income (loss) from continuing operations before income taxes and equity in net income of affiliates, as reported in the Consolidated Statements of Operations, for the years ended December 31, 2022, 2021 and 2020:
|  |  | Mexico |  | Peru |  |  |  |  |  |  |  | Corporate |  | Total
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | $ | 613,942 |  |  | $ | 624,238 |  |  |  |  |  |  |  |  | $ | 4,091 |  |  | $ | 1,242,271 |
Depreciation and amortization expense |  |  | 31,369 |  |  | 23,953 |  |  |  |  |  |  |  |  | 3,810 |  |  | 59,132 |
Loss on impairment of assets |  |  | 144 |  |  | — |  |  |  |  |  |  |  |  | — |  |  | 144 |
Total assets |  |  | 1,220,630 |  |  | 536,141 |  |  |  |  |  |  |  |  | 215,466 |  |  | 1,972,237 |
Expenditures for long-lived assets |  |  | 36,045 |  |  | 16,777 |  |  |  |  |  |  |  |  | 246 |  |  | 53,068 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | $ | 540,429 |  |  | $ | 537,056 |  |  |  |  |  |  |  |  | $ | 9,216 |  |  | $ | 1,086,701 |
Depreciation and amortization expense |  |  | 29,461 |  |  | 24,196 |  |  |  |  |  |  |  |  | 47,574 |  |  | 101,231 |
Loss on impairment of assets |  |  | 9,319 |  |  | — |  |  |  |  |  |  |  |  | 63,169 |  |  | 72,488 |
Total assets |  |  | 1,251,791 |  |  | 598,862 |  |  |  |  |  |  |  |  | 360,657 |  |  | 2,211,310 |
Expenditures for long-lived assets |  |  | 23,121 |  |  | 19,029 |  |  |  |  |  |  |  |  | 2,895 |  |  | 45,045 |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  |  | $ | 534,607 |  |  | $ | 482,878 |  |  |  |  |  |  |  |  | $ | 7,432 |  |  | $ | 1,024,917 |
Depreciation and amortization expense |  |  | 29,032 |  |  | 26,962 |  |  |  |  |  |  |  |  | 27,139 |  |  | 83,133 |
Loss on impairment of assets |  |  | 989 |  |  | — |  |  |  |  |  |  |  |  | 350,982 |  |  | 351,971 |
Expenditures for long-lived assets |  |  | 13,377 |  |  | 18,505 |  |  |  |  |  |  |  |  | 8,376 |  |  | 40,258 |
In order to reconcile to total consolidated assets as of December 31, 2022 and 2021 in the table above, assets held for sale related to Discontinued Operations of $0 and $6,164, respectively, are included in the Corporate amounts.
For the years ended December 31, | 2022 |  | 2021 |  | 2020
Adjusted EBITDA of reportable segments: |  |  |  |  |
Mexico | $ | 123,368 |  |  | $ | 95,812 |  |  | $ | 112,917 |
Peru | 266,660 |  |  | 245,677 |  |  | 189,488 |
Total Adjusted EBITDA of reportable segments | 390,028 |  |  | 341,489 |  |  | 302,405 |
Reconciling items: |  |  |  |  |
Corporate | (51,151) |  |  | (88,102) |  |  | (96,708) |
Depreciation and amortization expense | (59,132) |  |  | (101,231) |  |  | (83,133) |
Loss on impairment of assets | (144) |  |  | (72,488) |  |  | (351,971) |
Share-based compensation expense | (8,776) |  |  | (8,895) |  |  | (10,248) |
EiP expenses | (813) |  |  | (75,420) |  |  | (89,647) |
Operating income (loss) | 270,012 |  |  | (4,647) |  |  | (329,302) |
Interest income | 7,567 |  |  | 4,378 |  |  | 2,169 |
Interest expense | (16,418) |  |  | (46,275) |  |  | (100,894) |
Loss on debt extinguishment | — |  |  | (77,940) |  |  | (610) |
Loss on derivatives, net | — |  |  | (24,517) |  |  | (25,980) |
Other income (expense), net | 770 |  |  | (1,695) |  |  | (2,420) |
Foreign currency exchange (loss) gain, net | (17,444) |  |  | 13,791 |  |  | 13,474 |
Gain (loss) on disposals of subsidiaries, net | 1,364 |  |  | (602) |  |  | (7,276) |
Income (loss) from continuing operations before income taxes and equity in net income of affiliates | $ | 245,851 |  |  | $ | (137,507) |  |  | $ | (450,839) |
Schedule of Revenue From Customers By Geographical Area | Revenues from customers by geographic area, primarily generated by students enrolled at institutions in those areas, were as follows:
For the years ended December 31, | 2022 |  | 2021 |  | 2020
External Revenues(1) |  |  |  |  |
Mexico | $ | 613,623 |  |  | $ | 539,549 |  |  | $ | 532,530 |
Peru | 624,167 |  |  | 537,056 |  |  | 482,819 |
United States | 4,481 |  |  | 10,096 |  |  | 9,509 |
Other foreign countries | — |  |  | — |  |  | 59 |
Consolidated total | $ | 1,242,271 |  |  | $ | 1,086,701 |  |  | $ | 1,024,917 |
(1) Excludes intercompany revenues and therefore does not agree to the table above
Schedule of Long-Lived Assets By Geographic Areas | Long-lived assets are composed of Property and equipment, net. Laureate’s long-lived assets by geographic area were as follows:
December 31, | 2022 |  | 2021
Long-lived assets |  |  |
Mexico | $ | 225,346 |  |  | $ | 206,745 |
Peru | 289,482 |  |  | 281,057 |
United States | 8,579 |  |  | 11,715 |
Consolidated total | $ | 523,407 |  |  | $ | 499,517 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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