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Stockholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Components of net changes in stockholders' equity | The components of net changes in stockholders’ equity for the nine months ended September 30, 2024 are as follows:
| Laureate Education, Inc. Stockholders |  |
| Common stock | Additional paid-in capital | Retained earnings | Accumulated other comprehensive loss |  | Non-controlling interests | Total stockholders’ equity
| Shares | Amount
Balance at December 31, 2023 | 157,586 |  | $ | 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 withholding | 181 |  | 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, 2024 | 155,160 |  | $ | 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 withholding | 47 |  | — |  | 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, 2024 | 152,546 |  | $ | 610 |  | $ | 1,142,081 |  | $ | 128,130 |  | $ | (352,807) |  |  | $ | (2,205) |  | $ | 915,809 |
Non-cash share-based compensation | — |  | — |  | 2,781 |  | — |  | — |  |  | — |  | 2,781 |
Purchase and retirement of common stock | (1,895) |  | (7) |  | (14,190) |  | (14,381) |  | — |  |  | — |  | (28,578) |
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding | 34 |  | — |  | 80 |  | — |  | — |  |  | — |  | 80 |
Equitable adjustments to stock-based awards | — |  | — |  | (3) |  | — |  | — |  |  | — |  | (3) |
Net income (loss) | — |  | — |  | — |  | 85,463 |  | — |  |  | (136) |  | 85,327 |
Foreign currency translation adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | (80,091) |  |  | — |  | (80,091) |
Balance at September 30, 2024 | 150,685 |  | $ | 603 |  | $ | 1,130,749 |  | $ | 199,212 |  | $ | (432,898) |  |  | $ | (2,341) |  | $ | 895,325 |
The components of net changes in stockholders’ equity for the nine months ended September 30, 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 |
Non-cash share-based compensation | — |  | — |  | 1,794 |  | — |  | — |  | — |  | — |  | 1,794 |
Exercise of stock options and vesting of restricted stock units, net of shares withheld to satisfy tax withholding | 147 |  | — |  | 1,032 |  | — |  | — |  | — |  | — |  | 1,032 |
Equitable adjustments to stock-based awards | — |  | — |  | 2 |  | — |  | — |  | — |  | — |  | 2 |
Net income (loss) | — |  | — |  | — |  | 36,158 |  | — |  | — |  | (177) |  | 35,981 |
Foreign currency translation adjustment, net of tax of $0 | — |  | — |  | — |  | — |  | (46,373) |  | — |  | 2 |  | (46,371) |
Balance at September 30, 2023 | 157,367 |  | $ | 629 |  | $ | 1,184,329 |  | $ | 104,972 |  | $ | (323,999) |  | $ | — |  | $ | (2,289) |  | $ | 963,642 |
Schedule of accumulated other comprehensive income (loss) | The components of these balances were as follows:
| September 30, 2024 |  | December 31, 2023
| Laureate Education, Inc. | Noncontrolling Interests | Total |  | Laureate Education, Inc. | Noncontrolling Interests | Total
Foreign currency translation adjustment | $ | (442,808) |  | $ | 962 |  | $ | (441,846) |  |  | $ | (282,054) |  | $ | 962 |  | $ | (281,092) |
Unrealized gain on derivatives | 10,416 |  | — |  | 10,416 |  |  | 10,416 |  | — |  | 10,416 |
Minimum pension liability adjustment | (506) |  | — |  | (506) |  |  | (506) |  | — |  | (506) |
Accumulated other comprehensive loss | $ | (432,898) |  | $ | 962 |  | $ | (431,936) |  |  | $ | (272,144) |  | $ | 962 |  | $ | (271,182) |

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