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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 130,636 $ 85,167
Restricted cash 8,644 8,617
Receivables:    
Accounts and notes receivable 120,261 133,105
Other receivables 16,743 9,486
Allowance for doubtful accounts (62,120) (61,882)
Receivables, net 74,884 80,709
Income tax receivable 34,868 32,261
Prepaid expenses and other current assets 30,356 19,445
Total current assets 279,388 226,199
Property and equipment:    
Land 130,884 127,154
Buildings 361,540 348,931
Furniture, equipment and software 522,424 494,004
Leasehold improvements 125,155 117,820
Construction in-progress 13,805 11,871
Accumulated depreciation and amortization (615,057) (576,373)
Property and equipment, net 538,751 523,407
Operating lease right-of-use assets, net 397,310 389,565
Goodwill 618,471 583,493
Tradenames, net 159,454 151,645
Deferred costs, net 4,684 5,310
Deferred income taxes 55,622 51,941
Other assets 41,794 40,677
Total assets 2,095,474 1,972,237
Current liabilities:    
Accounts payable 32,848 42,842
Accrued expenses 58,366 50,563
Accrued compensation and benefits 73,058 85,215
Deferred revenue and student deposits 114,832 51,264
Current portion of operating leases 43,946 38,994
Current portion of long-term debt and finance leases 49,545 56,184
Income taxes payable 13,436 38,738
Other current liabilities 21,745 17,587
Total current liabilities 407,776 381,387
Long-term operating leases, less current portion 383,953 376,898
Long-term debt and finance leases, less current portion 214,979 175,929
Deferred compensation 10,524 10,379
Income taxes payable 128,517 131,301
Deferred income taxes 94,869 89,765
Other long-term liabilities 32,526 30,823
Total liabilities 1,273,144 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 March 31, 2023 and December 31, 2022 0 0
Common stock, par value $0.004 per share – 700,000 shares authorized, 230,948 shares issued and 157,174 shares outstanding as of March 31, 2023 and 230,779 shares issued and 157,013 shares outstanding as of December 31, 2022 924 923
Additional paid-in capital 2,205,434 2,204,755
Retained earnings 12,637 39,244
Accumulated other comprehensive loss (369,633) (442,424)
Treasury stock at cost (73,766 shares held at both March 31, 2023 and December 31, 2022) (1,026,272) (1,026,272)
Total Laureate Education, Inc. stockholders' equity 823,090 776,226
Noncontrolling interests (2,158) (1,869)
Total stockholders' equity 820,932 774,357
Total liabilities and stockholders' equity $ 2,095,474 $ 1,972,237