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Stockholders' Equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Stockholders' Equity Stockholders’ Equity
The components of net changes in stockholders’ equity for the six months ended June 30, 2024 are as follows:
Laureate Education, Inc. Stockholders
Common stockAdditional paid-in capitalRetained earningsAccumulated other comprehensive lossNon-controlling interestsTotal stockholders’ equity
SharesAmount
Balance at December 31, 2023157,586 $630 $1,179,721 $41,862 $(272,144)$(2,329)$947,740 
Non-cash share-based compensation— — 1,409 — — — 1,409 
Purchase and retirement of common stock(2,607)(10)(19,512)(13,700)— — (33,222)
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding181 1 (774)— — — (773)
Equitable adjustments to stock-based awards— — 21 — — — 21 
Net loss— — — (10,751)— (97)(10,848)
Foreign currency translation adjustment, net of tax of $0
— — — — 26,883 — 26,883 
Balance at March 31, 2024155,160 $621 $1,160,865 $17,411 $(245,261)$(2,426)$931,210 
Non-cash share-based compensation— — 2,887 — — — 2,887 
Purchase and retirement of common stock(2,661)(11)(21,781)(17,411)— — (39,203)
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding47 — 91 — — — 91 
Equitable adjustments to stock-based awards— — 19 — — — 19 
Net income— — — 128,130 — 221 128,351 
Foreign currency translation adjustment, net of tax of $0
— — — — (107,546)— (107,546)
Balance at June 30, 2024152,546 $610 $1,142,081 $128,130 $(352,807)$(2,205)$915,809 

Stock Repurchases

On March 5, 2024, the Company entered into a stock purchase agreement with each of ILM Investments Limited Partnership, Torreal Sociedad de Capital Riesgo S.A., Pedro del Corro García-Lomas, a member of Laureate’s Board of Directors, Ana Gómez Cuesta and José Diaz-Rato Revuelta (together, the Torreal Sellers), pursuant to which the Company purchased an
aggregate of 2,607 shares of its common stock from the Torreal Sellers at a purchase price of $12.62 per share for an aggregate purchase price of $32,894.

On May 6, 2024, the Company entered into a stock purchase agreement with each of Snow Phipps Group, LLC, Snow Phipps Group, L.P., Snow Phipps Group (B), L.P., Snow Phipps Group (Offshore), L.P., Snow Phipps Group (RPV), L.P. and SPG Co-Investment, L.P. (together, the Snow Phipps Sellers), pursuant to which the Company purchased an aggregate of 2,115 shares of its common stock from the Snow Phipps Sellers at a purchase price of $14.64 per share for an aggregate purchase price of $30,958.

During June 2024, the Company repurchased 546 shares of its common stock on the open market at prevailing market prices pursuant to a Rule 10b5-1 stock repurchase plan, in accordance with applicable rules and regulations promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act).

The above repurchases were pursuant to the Company’s existing $100,000 stock purchase program that was announced on February 22, 2024. Under this stock repurchase program, all shares repurchased are immediately retired. Upon retirement of repurchased stock, the excess of the purchase price plus excise tax over par value is allocated to additional paid-in capital, subject to certain limitations. Any remainder is allocated to retained earnings to the extent that positive retained earnings exist.

The components of net changes in stockholders’ equity for the six months ended June 30, 2023 are as follows:
Laureate Education, Inc. Stockholders

Common stock		Additional paid-in capital
Retained earnings
Accumulated other comprehensive lossTreasury stock at costNon-controlling interestsTotal stockholders’ equity
SharesAmount
Balance at December 31, 2022157,013 $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 withholding161 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, 2023157,174 $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 withholding46 — 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, 2023157,220 $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 the treasury stock, the Company allocated the excess of the purchase price over par value to additional paid-in capital, subject to certain limitations.
Share-based Compensation Expense

During the six months ended June 30, 2024 and 2023, the Company recorded share-based compensation expense for restricted stock unit awards of $4,296 and $3,100, respectively.

Accumulated Other Comprehensive 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, 2024December 31, 2023
Laureate Education, Inc.Noncontrolling InterestsTotalLaureate Education, Inc.Noncontrolling InterestsTotal
Foreign currency translation adjustment$(362,717)$962 $(361,755)$(282,054)$962 $(281,092)
Unrealized gain on derivatives10,416 — 10,416 10,416 — 10,416 
Minimum pension liability adjustment(506)— (506)(506)— (506)
Accumulated other comprehensive loss$(352,807)$962 $(351,845)$(272,144)$962 $(271,182)