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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2023
Equity [Abstract] |
Stockholders' Equity | Stockholders’ Equity The components of net changes in stockholders’ equity for the fiscal quarters of 2023 are as follows:
| Laureate Education, Inc. Stockholders |  |
| Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss | Treasury stock at cost | Non-controlling interests | Total stockholders’ equity
| Shares | Amount
Balance at December 31, 2022 | 157,013 |  | $ | 923 |  | $ | 2,204,755 |  | $ | 39,244 |  | $ | (442,424) |  | $ | (1,026,272) |  | $ | (1,869) |  | $ | 774,357 |
Non-cash share-based compensation | — |  | — |  | 1,124 |  | — |  | — |  | — |  | — |  | 1,124 |
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding | 161 |  | 1 |  | (448) |  | — |  | — |  | — |  | — |  | (447) |
Equitable adjustments to stock-based awards | — |  | — |  | (13) |  | — |  | — |  | — |  | — |  | (13) |
Change in noncontrolling interests | — |  | — |  | 16 |  | — |  | — |  | — |  | (140) |  | (124) |
Net loss | — |  | — |  | — |  | (26,607) |  | — |  | — |  | (155) |  | (26,762) |
Foreign currency translation adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | 72,791 |  | — |  | 6 |  | 72,797 |
Balance at March 31, 2023 | 157,174 |  | $ | 924 |  | $ | 2,205,434 |  | $ | 12,637 |  | $ | (369,633) |  | $ | (1,026,272) |  | $ | (2,158) |  | $ | 820,932 |
Non-cash share-based compensation | — |  | — |  | 1,976 |  | — |  | — |  | — |  | — |  | 1,976 |
Retirement of treasury stock | — |  | (295) |  | (1,025,977) |  | — |  | — |  | 1,026,272 |  | — |  | — |
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding | 46 |  | — |  | 44 |  | — |  | — |  | — |  | — |  | 44 |
Equitable adjustments to stock-based awards | — |  | — |  | 24 |  | — |  | — |  | — |  | — |  | 24 |
Net income | — |  | — |  | — |  | 56,177 |  | — |  | — |  | 136 |  | 56,313 |
Foreign currency translation adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | 92,007 |  | — |  | (92) |  | 91,915 |
Balance at June 30, 2023 | 157,220 |  | $ | 629 |  | $ | 1,181,501 |  | $ | 68,814 |  | $ | (277,626) |  | $ | — |  | $ | (2,114) |  | $ | 971,204 |
Retirement of Treasury Stock On May 24, 2023, the Company’s Board of Directors approved the retirement of all outstanding shares of treasury stock, which totaled 73,766 shares. The Company recorded the purchases of treasury stock at cost as a separate component within stockholders’ equity in the Consolidated Balance Sheets. Upon retirement of treasury stock, the Company allocates the excess of the purchase price over par value to additional paid-in capital, subject to certain limitations. The components of net changes in stockholders’ equity for the fiscal quarters of 2022 are as follows:
| Laureate Education, Inc. Stockholders |  |
| Common stock | Additional paid-in capital | Retained earnings (accumulated deficit) | Accumulated other comprehensive loss | Treasury stock at cost | Non-controlling interests | Total stockholders’ equity
| Shares | Amount
Balance at December 31, 2021 | 180,611 |  | $ | 915 |  | $ | 2,388,783 |  | $ | 15,523 |  | $ | (520,204) |  | $ | (744,174) |  | $ | (1,285) |  | $ | 1,139,558 |
Non-cash share-based compensation | — |  | — |  | 2,762 |  | — |  | — |  | — |  | — |  | 2,762 |
Purchase of treasury stock at cost | (9,485) |  | — |  | — |  | — |  | — |  | (112,874) |  | — |  | (112,874) |
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding | 1,379 |  | 6 |  | 10,716 |  | — |  | — |  | — |  | — |  | 10,722 |
Equitable adjustments to stock-based awards | — |  | — |  | (189) |  | — |  | — |  | — |  | — |  | (189) |
Net loss | — |  | — |  | — |  | (44,211) |  | — |  | — |  | (469) |  | (44,680) |
Foreign currency translation adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | 49,573 |  | — |  | 2 |  | 49,575 |
Minimum pension liability adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | 14 |  | — |  | — |  | 14 |
Balance at March 31, 2022 | 172,505 |  | $ | 921 |  | $ | 2,402,072 |  | $ | (28,688) |  | $ | (470,617) |  | $ | (857,048) |  | $ | (1,752) |  | $ | 1,044,888 |
Non-cash share-based compensation | — |  | — |  | 2,360 |  | — |  | — |  | — |  | — |  | 2,360 |
Purchase of treasury stock at cost | (8,013) |  | — |  | — |  | — |  | — |  | (93,362) |  | — |  | (93,362) |
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding | 171 |  | 1 |  | (472) |  | — |  | — |  | — |  | — |  | (471) |
Equitable adjustments to stock-based awards | — |  | — |  | (35) |  | — |  | — |  | — |  | — |  | (35) |
Change in noncontrolling interests | — |  | — |  | 2 |  | — |  | — |  | — |  | (2) |  | — |
Reclassification of redeemable equity to non-redeemable equity | — |  | — |  | 316 |  | — |  | — |  | — |  | — |  | 316 |
Net income | — |  | — |  | — |  | 43,423 |  | — |  | — |  | 136 |  | 43,559 |
Foreign currency translation adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | 17,969 |  | — |  | 3 |  | 17,972 |
Balance at June 30, 2022 | 164,663 |  | $ | 922 |  | $ | 2,404,243 |  | $ | 14,735 |  | $ | (452,648) |  | $ | (950,410) |  | $ | (1,615) |  | $ | 1,015,227 |
Share-based Compensation Expense During the six months ended June 30, 2023 and 2022, the Company recorded share-based compensation expense for restricted stock unit awards of $3,100 and $5,122, respectively. Accumulated Other Comprehen sive Income (Loss) Accumulated other comprehensive income (loss) (AOCI) in our Consolidated Balance Sheets includes the accumulated translation adjustments arising from translation of foreign subsidiaries’ financial statements, the unrealized gain on a derivative designated as an effective net investment hedge, and the accumulated net gains or losses that are not recognized as components of net periodic benefit cost for our minimum pension liability. The AOCI related to the net investment hedge will be deferred from earnings until the sale or liquidation of the hedged investee. The components of these balances were as follows:
| June 30, 2023 |  | December 31, 2022
| Laureate Education, Inc. | Noncontrolling Interests | Total |  | Laureate Education, Inc. | Noncontrolling Interests | Total
Foreign currency translation adjustment | $ | (287,454) |  | $ | 873 |  | $ | (286,581) |  |  | $ | (452,252) |  | $ | 959 |  | $ | (451,293) |
Unrealized gain on derivatives | 10,416 |  | — |  | 10,416 |  |  | 10,416 |  | — |  | 10,416 |
Minimum pension liability adjustment | (588) |  | — |  | (588) |  |  | (588) |  | — |  | (588) |
Accumulated other comprehensive loss | $ | (277,626) |  | $ | 873 |  | $ | (276,753) |  |  | $ | (442,424) |  | $ | 959 |  | $ | (441,465) |

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