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Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 130,862 $ 85,167
Restricted cash 7,587 8,617
Receivables:    
Accounts and notes receivable 159,730 133,105
Other receivables 10,658 9,486
Allowance for doubtful accounts (74,639) (61,882)
Receivables, net 95,749 80,709
Income tax receivable 18,604 32,261
Prepaid expenses and other current assets 26,493 19,445
Current assets held for sale 738 0
Total current assets 280,033 226,199
Property and equipment:    
Land 131,420 127,154
Buildings 370,220 348,931
Furniture, equipment and software 548,310 494,004
Leasehold improvements 129,698 117,820
Construction in-progress 16,016 11,871
Accumulated depreciation and amortization (652,058) (576,373)
Property and equipment, net 543,606 523,407
Operating lease right-of-use assets, net 356,351 389,565
Goodwill 640,358 583,493
Tradenames, net 164,055 151,645
Deferred costs, net 5,032 5,310
Deferred income taxes 58,054 51,941
Other assets 39,264 40,677
Long-term assets held for sale 10,521 0
Total assets 2,097,274 1,972,237
Current liabilities:    
Accounts payable 33,325 42,842
Accrued expenses 73,178 50,563
Accrued compensation and benefits 89,624 85,215
Deferred revenue and student deposits 81,039 51,264
Current portion of operating leases 56,265 38,994
Current portion of long-term debt and finance leases 49,053 56,184
Income taxes payable 16,427 38,738
Other current liabilities 31,201 17,587
Current liabilities held for sale 1,436 0
Total current liabilities 431,548 381,387
Long-term operating leases, less current portion 336,905 376,898
Long-term debt and finance leases, less current portion 83,059 175,929
Deferred compensation 9,313 10,379
Income taxes payable 136,709 131,301
Deferred income taxes 89,268 89,765
Other long-term liabilities 35,385 30,823
Long-term liabilities held for sale 10,047 0
Total liabilities 1,132,234 1,196,482
Redeemable equity 1,398 1,398
Stockholders' equity:    
Preferred stock, par value $0.001 per share – 50,000 shares authorized, no shares issued and outstanding as of September 30, 2023 and December 31, 2022 0 0
Common stock, par value $0.004 per share – 700,000 shares authorized, 157,367 shares issued and outstanding as of September 30, 2023 and 230,779 shares issued and 157,013 shares outstanding as of December 31, 2022 629 923
Additional paid-in capital 1,184,329 2,204,755
Retained earnings 104,972 39,244
Accumulated other comprehensive loss (323,999) (442,424)
Treasury stock at cost (73,766 shares held at December 31, 2022) 0 (1,026,272)
Total Laureate Education, Inc. stockholders' equity 965,931 776,226
Noncontrolling interests (2,289) (1,869)
Total stockholders' equity 963,642 774,357
Total liabilities and stockholders' equity $ 2,097,274 $ 1,972,237