Laureate Education (LAUR) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2019shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-38002
Entity Registrant Name	Laureate Education, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-1492296
Entity Address, Address Line One	650 S. Exeter Street,
Entity Address, City or Town	Baltimore,
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21202
City Area Code	410
Local Phone Number	843-6100
Title of 12(b) Security	Class A common stock, par value $0.004 per share
Trading Symbol	LAUR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000912766
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	127,753,927
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	90,864,186

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenues	$ 773,699	$ 778,255	$ 2,367,174	$ 2,397,762
Costs and expenses:
Direct costs	655,627	665,549	2,002,180	2,044,159
General and administrative expenses	72,342	73,680	193,658	194,184
Loss on impairment of assets			470	10,030
Loss on impairment of assets	0	10,030	25,470	10,030
Operating income	45,730	28,996	170,866	149,389
Interest income	3,154	3,502	9,552	9,358
Interest expense	(40,319)	(58,319)	(136,438)	(181,746)
Loss on debt extinguishment	(200)	0	(26,417)	(7,481)
Gain (loss) on derivatives	284	(144)	8,099	92,112
Other income, net	1,038	8,312	9,138	10,815
Foreign currency exchange loss, net	(14,777)	(26,443)	(10,643)	(43,959)
Loss on disposal of subsidiaries	(1,474)	0	(1,474)	0
(Loss) income from continuing operations before income taxes and equity in net income of affiliates	(6,564)	(44,096)	22,683	28,488
Income tax (expense) benefit	(21,962)	3,743	(60,677)	(65,129)
Equity in net income of affiliates, net of tax			219	0
Loss from continuing operations	(28,526)	(40,353)	(37,775)	(36,641)
Income (loss) from discontinued operations, including tax (expense) benefit	(27,137)	(37,905)	66,472	23,551
Gain (Loss) on sales of discontinued operations, including tax expense	(41,131)	(18,426)	848,390	311,904
Net income (loss)	(96,794)	(96,684)	877,087	298,814
Net loss (income) attributable to noncontrolling interests	1,568	1,895	522	(315)
Net income (loss) attributable to Laureate Education, Inc.	(95,226)	(94,789)	877,609	298,499
Accretion of redeemable noncontrolling interests and equity	(193)	324	264	(61,403)
Gain upon conversion of Series A convertible redeemable preferred stock			0	74,110
Net loss available to common stockholders	$ (95,419)	$ (94,465)	$ 877,873	$ 311,206
Basic and diluted loss per share:
Loss from continuing operations (in dollars per share)	$ (0.13)	$ (0.18)
Loss from discontinued operations (in dollars per share)	(0.30)	(0.24)
Basic and diluted loss per share (in dollars per share)	$ (0.43)	$ (0.42)
Basic earnings (loss) per share:
Loss from continuing operations (in dollars per share)			$ (0.17)	$ (0.11)
Income from discontinued operations (in dollars per share)			4.08	1.60
Basic earnings per share (in dollars per share)			3.91	1.49
Diluted earnings (loss) per share:
Loss from continuing operations (in dollars per share)			(0.17)	(0.17)
Income from discontinued operations (in dollars per share)			4.08	1.60
Diluted earnings per share (in dollars per share)			$ 3.91	$ 1.43

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Discontinued operations, tax benefit (expense)	$ (2,062)	$ 2,939	$ 15,926	$ 40,406
Gain on sales of discontinued operations, tax expense (benefit)	$ 3,591	$ 2,694	$ 31,153	$ 18,097

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (96,794)	$ (96,684)	$ 877,087	$ 298,814
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax	(82,580)	(52,750)	(22,841)	(166,052)
Unrealized (loss) gain on derivative instruments, net of tax	0		(7,950)
Unrealized (loss) gain on derivative instruments, net of tax		(560)		11,776
Minimum pension liability adjustment, net of tax	4,531	0	4,531	376
Total other comprehensive loss	(78,049)	(53,310)	(26,260)	(153,900)
Comprehensive income (loss)	(174,843)	(149,994)	850,827	144,914
Net comprehensive loss (income) attributable to noncontrolling interests	2,078	1,683	1,089	(719)
Comprehensive income (loss) attributable to Laureate Education, Inc.	$ (172,765)	$ (148,311)	$ 851,916	$ 144,195

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0
Unrealized gain on derivative instruments, tax	0	0
Minimum pension liability adjustment, tax	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents (includes VIE amounts of $163,413 and $158,387, see Note 2)	$ 323,930	$ 387,780
Restricted cash	183,819	195,792
Receivables:
Accounts and notes receivable	533,000	373,855
Other receivables	11,066	11,357
Allowance for doubtful accounts	(172,677)	(159,931)
Receivables, net	371,389	225,281
Income tax receivable	49,439	18,515
Prepaid expenses and other current assets	64,016	52,079
Current assets held for sale	131,606	337,686
Total current assets	1,124,199	1,217,133
Notes receivable, net	12,823	2,397
Property and equipment:
Land	228,457	234,826
Buildings	654,126	645,177
Furniture, equipment and software	972,864	952,117
Leasehold improvements	316,468	356,660
Construction in-progress	49,101	60,919
Accumulated depreciation and amortization	(1,029,619)	(974,358)
Property and equipment, net	1,191,397	1,275,341
Operating lease right-of-use assets, net	871,746	0
Land use rights, net	1,578	1,552
Goodwill	1,677,392	1,707,089
Other intangible assets:
Tradenames	1,116,189	1,126,244
Other intangible assets, net	1,697	25,429
Deferred costs, net	69,841	66,835
Deferred income taxes	134,074	136,487
Derivative instruments	0	3,259
Other assets	175,204	172,673
Long-term assets held for sale	448,573	1,035,197
Total assets	6,824,713	6,769,636
Current liabilities:
Accounts payable	69,887	65,357
Accrued expenses	260,102	222,162
Accrued compensation and benefits	166,430	194,678
Deferred revenue and student deposits	464,340	193,226
Current portion of operating leases	91,919
Current portion of long-term debt and finance leases	119,932	100,818
Current portion of due to shareholders of acquired companies	11,502	23,820
Income taxes payable	29,038	17,864
Derivative instruments	11	4,021
Other current liabilities	26,413	46,621
Current liabilities held for sale	136,634	321,520
Total current liabilities (includes VIE amounts of $221,910 and $207,977, see Note 2)	1,376,208	1,190,087
Long-term operating leases, less current portion	800,828
Long-term debt and finance leases, less current portion	1,158,350	2,593,094
Due to shareholders of acquired companies, less current portion	9,956	21,571
Deferred compensation	11,697	12,778
Income taxes payable	82,182	90,087
Deferred income taxes	224,907	217,558
Derivative instruments	0	6,656
Other long-term liabilities	159,260	213,600
Long-term liabilities held for sale	158,501	358,863
Total liabilities	3,981,889	4,704,294
Redeemable noncontrolling interests and equity	11,944	14,396
Stockholders' equity:
Preferred stock, par value $0.001 per share – 49,889 shares authorized as of September 30, 2019 and December 31, 2018, respectively, no shares issued and outstanding as of September 30, 2019 and December 31, 2018	0	0
Additional paid-in capital	3,710,145	3,703,796
Retained earnings (accumulated deficit)	375,634	(530,919)
Accumulated other comprehensive loss	(1,138,388)	(1,112,695)
Treasury stock at cost	(104,849)	0
Total Laureate Education, Inc. stockholders' equity	2,843,440	2,061,079
Noncontrolling interests	(12,560)	(10,133)
Total stockholders' equity	2,830,880	2,050,946
Total liabilities and stockholders' equity	6,824,713	6,769,636
Redeemable noncontrolling interests and equity
Current liabilities:
Redeemable noncontrolling interests and equity	11,944
Class A Common Stock
Stockholders' equity:
Common stock	535	430
Class B Common Stock
Stockholders' equity:
Common stock	$ 363	$ 467

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Cash and cash equivalents	$ 323,930	$ 387,780
Current assets	1,124,199	1,217,133
Total assets	6,824,713	6,769,636
Current liabilities	1,376,208	1,190,087
Liabilities	$ 3,981,889	$ 4,704,294
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	49,889,000	49,889,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.004	$ 0.004
Common stock, shares authorized (in shares)	700,000,000	700,000,000
Common stock, shares issued (in shares)	133,904,000	107,450,000
Common stock, shares outstanding (in shares)	127,754,000	107,450,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.004	$ 0.004
Common stock, shares authorized (in shares)	175,000,000	175,000,000
Common stock, shares issued (in shares)	90,864,000	116,865,000
Common stock, shares outstanding (in shares)	90,864,000	116,865,000
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 163,413	$ 158,387
Current assets	414,476	483,613
Total assets	1,053,534	1,196,813
Current liabilities	221,910	207,977
Liabilities	$ 344,301	$ 274,744

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 877,087	$ 298,814
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	146,284	189,961
Amortization of operating lease right-of-use assets	95,566
Loss on impairment of assets	25,470	10,030
Gain on sales of subsidiaries and disposal of property and equipment, net	(814,202)	(292,999)
Gain on derivative instruments	(8,260)	(92,749)
(Payments for) proceeds from settlement of derivative contracts	(8,233)	14,117
Loss on debt extinguishment	26,901	7,481
Non-cash interest expense	3,386	14,651
Non-cash share-based compensation expense	9,581	10,492
Bad debt expense	80,957	83,029
Deferred income taxes	(3,107)	(389)
Unrealized foreign currency exchange loss	8,434	53,731
Non-cash loss (gain) from non-income tax contingencies	5,196	(843)
Other, net	(6,849)	(11,607)
Changes in operating assets and liabilities:
Receivables	(273,830)	(288,747)
Prepaid expenses and other assets	(56,726)	(50,919)
Accounts payable and accrued expenses	(14,102)	(6,263)
Income tax receivable/payable, net	(39,734)	(10,084)
Deferred revenue and other liabilities	258,449	428,664
Net cash provided by operating activities	312,268	356,370
Cash flows from investing activities
Purchase of property and equipment	(102,147)	(150,458)
Expenditures for deferred costs	(12,086)	(13,182)
Receipts from sales of discontinued operations, net of cash sold, property and equipment and other	1,141,695	375,792
Settlement of derivatives related to sale of discontinued operations and net investment hedge	12,866	(9,960)
Proceeds from corporate-owned life insurance and property insurance recoveries	0	24,641
Business acquisitions, net of cash acquired	(1,205)	0
Payments from (to) related parties	84	(8)
Proceeds from sale of investment	11,473	0
Net cash provided by investing activities	1,050,680	226,825
Cash flows from financing activities
Proceeds from issuance of long-term debt, net of original issue discount	724,074	383,594
Payments on long-term debt	(2,189,779)	(838,542)
Payments of deferred purchase price for acquisitions	(19,787)	(17,588)
Payments to purchase noncontrolling interests	(5,761)	(127)
Payment of dividends on Series A Preferred Stock	0	(11,103)
Proceeds from exercise of stock options	1,714	0
Payments to repurchase common stock	(87,921)	0
Withholding of shares to satisfy tax withholding for vested stock awards and exercised stock options	(1,509)	(1,744)
Payments of debt issuance costs	(6,557)	(490)
Payments to purchase noncontrolling interests	(2,032)	(912)
Net cash used in financing activities	(1,587,558)	(486,912)
Effects of exchange rate changes on Cash and cash equivalents and Restricted cash	(8,808)	(4,534)
Change in cash included in current assets held for sale	157,595	(41,233)
Net change in Cash and cash equivalents and Restricted cash	(75,823)	50,516
Cash and cash equivalents and Restricted cash at beginning of period	583,572	525,745
Cash and cash equivalents and Restricted cash at end of period	$ 507,749	$ 576,261

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Laureate Education, Inc. and subsidiaries (hereinafter Laureate, we, us, our, or the Company) provide higher education programs and services to students through an international network of licensed universities and higher education institutions (institutions). Laureate's programs are provided through institutions that are campus-based and internet-based, or through electronically distributed educational programs (online). On October 1, 2015, we redomiciled in Delaware as a public benefit corporation as a demonstration of our long-term commitment to our mission to benefit our students and society. The Company completed its initial public offering (IPO) on February 6, 2017 and its shares are listed on the Nasdaq Global Select Market under the symbol ‘‘LAUR.’’ Discontinued Operations On August 9, 2018 , the Company announced the divestiture of additional subsidiaries located in Europe, Asia and Central America, which are included in the Rest of World (formerly called EMEAA), Andean (formerly called Andean & Iberian), and Central America & U.S. Campuses segments. Previously, the Company had announced the divestiture of certain subsidiaries in the Rest of World and Central America & U.S. Campuses segments. After completing all of these announced divestitures, the Company’s remaining principal markets will be Brazil, Chile, Mexico and Peru, along with the Online & Partnerships segment and the institutions in Australia and New Zealand. This represents a strategic shift that has a major effect on the Company's operations and financial results . Accordingly, all of the divestitures that are part of this strategic shift, including the divestitures announced on August 9, 2018 and those announced previously, as well as the Company's operations in the Kingdom of Saudi Arabia that were managed under a contract that expired on August 31, 2019 and was not renewed, are now accounted for as discontinued operations for all periods presented in accordance with Accounting Standards Codification (ASC) 205-20, ‘‘Discontinued Operations’’ (ASC 205). See Note 4 , Discontinued Operations and Assets Held for Sale , for more information. Unless indicated otherwise, the information in the footnotes to the Consolidated Financial Statements relates to continuing operations. The accompanying unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In our opinion, these financial statements include all adjustments considered necessary to present a fair statement of our consolidated results of operations, financial position and cash flows. Operating results for any interim period are not necessarily indicative of the results that may be expected for the full year. These unaudited Consolidated Financial Statements should be read in conjunction with Laureate's audited Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2018 (the 2018 Form 10-K) .

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies The Variable Interest Entity (VIE) Arrangements Laureate consolidates in its financial statements certain internationally based educational organizations that do not have shares or other equity ownership interests. Although these educational organizations may be considered not-for-profit entities in their home countries and they are operated in compliance with their respective not-for-profit legal regimes, we believe they do not meet the definition of a not-for-profit entity under GAAP, and therefore we treat them as ‘‘for-profit’’ entities for accounting purposes. These entities generally cannot declare dividends or distribute their net assets to the entities that control them. Under ASC 810-10, ‘‘Consolidation,’’ we have determined that these institutions are VIEs and that Laureate is the primary beneficiary of these VIEs because we have, as further described herein: (1) the power to direct the activities of the VIEs that most significantly affect their educational and economic performance and (2) the right to receive economic benefits from contractual and other arrangements with the VIEs that could potentially be significant to the VIEs. We account for the acquisition of the right to control a VIE in accordance with ASC 805, ‘‘Business Combinations.’’ The VIEs in Brazil and Mexico comprise several not-for-profit foundations that have insignificant revenues and operating expenses. Selected Consolidated Statements of Operations information for VIEs that are included in continuing operations was as follows, net of the charges related to the above-described contractual arrangements: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Selected Statements of Operations information: Revenues, by segment: Brazil $ — $ — $ — $ — Mexico — 4 — 89 Andean 120,746 119,884 325,668 325,423 Revenues 120,746 119,888 325,668 325,512 Depreciation and amortization 6,521 6,163 19,507 19,398 Operating income (loss), by segment: Brazil 81 (16 ) 46 (56 ) Mexico (96 ) (121 ) (292 ) (349 ) Andean 23,576 12,954 40,875 7,714 Operating income 23,561 12,817 40,629 7,309 Net income 25,510 18,812 43,094 22,860 Net income attributable to Laureate Education, Inc. 25,510 18,812 43,094 22,860 The following table reconciles the Net income attributable to Laureate Education, Inc. as presented in the table above, to the amounts in our Consolidated Statements of Operations: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Net income (loss) attributable to Laureate Education, Inc.: Variable interest entities $ 25,510 $ 18,812 $ 43,094 $ 22,860 Other operations 33,432 21,564 687,966 241,920 Corporate and eliminations (154,168 ) (135,165 ) 146,549 33,719 Net (loss) income attributable to Laureate Education, Inc. $ (95,226 ) $ (94,789 ) $ 877,609 $ 298,499 The following table presents selected assets and liabilities of the consolidated VIEs. Except for Goodwill, the assets in the table below include the assets that can be used only to settle the obligations for the VIEs. The liabilities in the table are liabilities for which the creditors of the VIEs do not have recourse to the general credit of Laureate. Selected Consolidated Balance Sheet amounts for these VIEs were as follows: September 30, 2019 December 31, 2018 VIE Consolidated VIE Consolidated Balance Sheets data: Cash and cash equivalents $ 163,413 $ 323,930 $ 158,387 $ 387,780 Current assets held for sale 17,586 131,606 183,880 337,686 Other current assets 233,477 668,663 141,346 491,667 Total current assets 414,476 1,124,199 483,613 1,217,133 Goodwill 162,833 1,677,392 168,473 1,707,089 Tradenames 63,731 1,116,189 66,929 1,126,244 Other intangible assets, net — 1,697 — 25,429 Operating lease right-of-use assets, net 69,934 871,746 — — Long-term assets held for sale 69,603 448,573 165,087 1,035,197 Other long-term assets 272,957 1,584,917 312,711 1,658,544 Total assets 1,053,534 6,824,713 1,196,813 6,769,636 Current liabilities held for sale 12,337 136,634 101,320 321,520 Other current liabilities 209,573 1,239,574 106,657 868,567 Long-term operating leases, less current portion 59,948 800,828 — — Long-term liabilities held for sale 30,833 158,501 42,265 358,863 Long-term debt and other long-term liabilities 31,610 1,646,352 24,502 3,155,344 Total liabilities 344,301 3,981,889 274,744 4,704,294 Total stockholders' equity 709,233 2,830,880 922,069 2,050,946 Total stockholders' equity attributable to Laureate Education, Inc. 709,233 2,843,440 921,747 2,061,079 On January 24, 2018, a new Higher Education Law (the New Law) was passed by the Chilean Congress. Among other things, the New Law prohibits conflicts of interests and related party transactions involving universities and their controlling parties, with certain exceptions. These exceptions include the provision of services that are educational in nature or essential for the university’s purposes. The New Law established a Superintendency of Higher Education, with authority to regulate institutions of higher education and promulgate regulations and procedures implementing the New Law. As of May 29, 2019, the New Law’s provisions regarding related party transactions came into force; however, the Superintendent has not issued any further interpretive guidance or regulations. Immediately prior to these provisions coming into force, each of the Chilean non-profit universities and the relevant Laureate services provider reached an agreement to terminate the prior network services agreement in favor of an open bidding process, wherein unrelated third parties and Laureate-related providers were invited to compete in the provision of the range of services that are essential to the fulfillment of each of their academic missions. The Chilean non-profit universities have completed substantially all of the bidding and contractual processes subsequent to the May 2019 contract terminations. The Company participated in these open bid processes, conducted by a third party, and was judged to have submitted the superior bid in many of them. Awarded contracts that do not need any approval by the Superintendent should enter into force during the fourth quarter, and contracts that need approval of the Superintendent may also enter into force during the fourth quarter. Within the ordinary regulatory course of supervision, the Company and the Chilean non-profit universities will continue to interact with the Superintendent to maintain compliance with the New Law. We do not believe that the New Law will change our relationship with our two tech/voc institutions in Chile that are for-profit entities. Additionally, we will continue to evaluate our accounting treatment of the Chilean non-profit universities to determine whether we can continue to consolidate them. Our continuing evaluation of the impact of the New Law may result in changes to our expectations due to changes in our interpretations of the law, assumptions used, and additional guidance that may be issued. Recently Issued Accounting Standards Not Yet Adopted Accounting Standards Update (ASU) No. 2016-13 (ASU 2016-13), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, which sets forth a “current expected credit loss” (CECL) model and requires companies to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. ASU 2016-13 applies to financial instruments that are not measured at fair value, including receivables that result from revenue transactions. This ASU is effective for Laureate beginning on January 1, 2020. While we are currently evaluating the effect that ASU 2016-13 will have on our Consolidated Financial Statements, we do not expect this guidance to have a material impact. Recently Adopted Accounting Standards ASU No. 2016-02 (ASU 2016-02), Leases (Topic 842) On February 25, 2016, the FASB issued ASU 2016-02, which requires lessees to recognize on their balance sheet a right-of-use (ROU) asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The liability is equal to the present value of the lease payments. The asset is based on the liability, subject to adjustment, such as for initial direct costs and uneven rent payments. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases result in straight-line expense (similar to operating leases prior to adoption of ASU 2016-02) while finance leases will result in a front-loaded expense pattern (similar to capital leases prior to adoption of ASU 2016-02). Laureate adopted ASU 2016-02 as of January 1, 2019 under a modified retrospective method. The standard provided companies with an additional, optional transition method that allowed entities to prospectively apply the requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. We elected this optional transition method. In accordance with ASC Topic 842 we also elected the package of practical expedients, which permits us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) any initial direct costs for any existing leases as of the effective date. We did not elect the hindsight practical expedient, which permits entities to use hindsight in determining the lease term and assessing impairment. We elected the practical expedient to combine our lease and related nonlease components for our building leases. Adopting ASU 2016-02 had a material impact on our Consolidated Balance Sheet as we recorded significant asset and liability balances in connection with our leased properties. The most significant impacts to our Consolidated Financial Statements of adopting this standard are as follows: • The recognition of ROU assets and lease liabilities for operating leases, which totaled $871,746 and $892,747 , respectively, as of September 30, 2019 ; • An increase in 2019 rent expense of approximately $13,000 for continuing operations primarily related to build-to-suit arrangements where Laureate was deemed to be the owner of the construction. Upon adoption of this standard, these arrangements were classified on the balance sheet as operating leases and the related ROU asset is being amortized to rent expense rather than depreciation expense; and • A cumulative-effect adjustment to retained earnings upon adoption of $28,944 , which is primarily attributable to the reclassification into retained earnings of deferred gain liabilities related to sale-leaseback transactions that were classified as operating leases upon adoption. ASU No. 2017-12 (ASU 2017-12), Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities On August 28, 2017, the FASB issued ASU 2017-12, which contains significant amendments to the hedge accounting model. The new guidance is intended to simplify the application of hedge accounting and should allow for more hedging strategies to qualify for hedge accounting. ASU 2017-12 also amends the presentation and disclosure requirements and changes how companies assess effectiveness. Public business entities like Laureate will have until the end of the first quarter in which a hedge is designated to perform an initial assessment of a hedge’s effectiveness. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test, such as a regression analysis, if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. We adopted this ASU on January 1, 2019 and the impact was not material. ASU No. 2018-15 (ASU 2018-15) Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) In August 2018, the FASB issued ASU 2018-15, which addresses the accounting for implementation costs associated with a hosted service. The standard provides amendments to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). Laureate elected to early adopt ASU 2018-15 on January 1, 2019, and the impact on our Consolidated Financial Statements was not material.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue Recognition Laureate's revenues primarily consist of tuition and educational service revenues. We also generate other revenues from student fees, dormitory/residency fees and other education-related activities. These other revenues are less material to our overall financial results and have a tendency to trend with tuition revenues. Revenues are recognized when control of the promised goods or services is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. These revenues are recognized net of scholarships and other discounts, refunds, waivers and the fair value of any guarantees made by Laureate related to student financing programs. Laureate's institutions have various billing and academic cycles. We determine revenue recognition through the five-step model prescribed by ASC Topic 606, Revenue from Contracts with Customers , as follows: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, we satisfy a performance obligation. We assess collectibility on a portfolio basis prior to recording revenue. Generally, students cannot re-enroll for the next academic session without satisfactory resolution of any past-due amounts. If a student withdraws from an institution, Laureate's obligation to issue a refund depends on the refund policy at that institution and the timing of the student's withdrawal. Generally, our refund obligations are reduced over the course of the academic term. We record refunds as a reduction of deferred revenue as applicable. The following table shows the components of Revenues by reportable segment and as a percentage of total net revenue for the three months ended September 30, 2019 and 2018 : Brazil Mexico Andean Rest of World Online & Partnerships Corporate (1) Total 2019 Tuition and educational services $ 200,876 $ 156,123 $ 322,918 $ 56,277 $ 173,351 $ — $ 909,545 118 % Other 2,384 27,539 23,767 1,720 12,384 (1,502 ) 66,292 9 % Gross revenue 203,260 183,662 346,685 57,997 185,735 (1,502 ) 975,837 126 % Less: Discounts / waivers / scholarships (89,205 ) (37,872 ) (39,415 ) (5,412 ) (30,234 ) — (202,138 ) (26 )% Total $ 114,055 $ 145,790 $ 307,270 $ 52,585 $ 155,501 $ (1,502 ) $ 773,699 100 % 2018 Tuition and educational services $ 196,670 $ 158,602 $ 312,274 $ 49,829 $ 180,063 $ — $ 897,438 115 % Other 2,272 23,676 22,594 2,204 13,767 (3,694 ) 60,819 8 % Gross revenue 198,942 182,278 334,868 52,033 193,830 (3,694 ) 958,257 123 % Less: Discounts / waivers / scholarships (77,853 ) (33,953 ) (35,255 ) (4,332 ) (28,609 ) — (180,002 ) (23 )% Total $ 121,089 $ 148,325 $ 299,613 $ 47,701 $ 165,221 $ (3,694 ) $ 778,255 100 % (1) Includes the elimination of intersegment revenues. The following table shows the components of Revenues by reportable segment and as a percentage of total net revenue for the nine months ended September 30, 2019 and 2018 : Brazil Mexico Andean Rest of World Online & Partnerships Corporate (1) Total 2019 Tuition and educational services $ 735,889 $ 499,013 $ 909,292 $ 145,143 $ 531,990 $ — $ 2,821,327 119 % Other 6,751 75,201 62,377 5,662 37,713 (2,066 ) 185,638 8 % Gross revenue 742,640 574,214 971,669 150,805 569,703 (2,066 ) 3,006,965 127 % Less: Discounts / waivers / scholarships (321,511 ) (109,505 ) (102,462 ) (13,601 ) (92,712 ) — (639,791 ) (27 )% Total $ 421,129 $ 464,709 $ 869,207 $ 137,204 $ 476,991 $ (2,066 ) $ 2,367,174 100 % 2018 Tuition and educational services $ 741,945 $ 499,876 $ 889,290 $ 137,138 $ 541,681 $ — $ 2,809,930 117 % Other 7,974 68,905 59,523 6,652 40,500 (9,418 ) 174,136 7 % Gross revenue 749,919 568,781 948,813 143,790 582,181 (9,418 ) 2,984,066 124 % Less: Discounts / waivers / scholarships (280,439 ) (104,913 ) (104,600 ) (12,378 ) (83,974 ) — (586,304 ) (24 )% Total $ 469,480 $ 463,868 $ 844,213 $ 131,412 $ 498,207 $ (9,418 ) $ 2,397,762 100 % (1) Includes the elimination of intersegment revenues. Contract Balances The timing of billings, cash collections and revenue recognition results in accounts receivable (contract assets) and deferred revenue and student deposits (contract liabilities) on the Consolidated Balance Sheets. We have various billing and academic cycles and recognize student receivables when an academic session begins, although students generally enroll in courses prior to the start of the academic session. Receivables are recognized only to the extent that it is probable that we will collect substantially all of the consideration to which we are entitled in exchange for the goods and services that will be transferred to the student. We receive advance payments or deposits from our students before revenue is recognized, which are recorded as contract liabilities in deferred revenue and student deposits. Payment terms vary by university with some universities requiring payment in advance of the academic session and other universities allowing students to pay in installments over the term of the academic session. All of our contract assets are considered accounts receivable and are included within the Accounts and notes receivable balance in the accompanying Consolidated Balance Sheets. Total accounts receivable from our contracts with students were $533,000 and $373,855 as of September 30, 2019 and December 31, 2018 , respectively. The increase in the contract assets balance at September 30, 2019 compared to December 31, 2018 is primarily driven by our enrollment cycles. The first and third calendar quarters generally coincide with the primary and secondary intakes for our larger institutions. All contract asset amounts are classified as current. Contract liabilities in the amount of $464,340 and $193,226 were included within the Deferred revenue and student deposits balance in the current liabilities section of the accompanying Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018 , respectively. The increase in the contract liability balance during the period ended September 30, 2019 is the result of semester billings and cash payments received in advance of satisfying performance obligations, offset by revenue recognized during that period. Revenue recognized for the nine months ended September 30, 2019 that was included in the contract liability balance at the beginning of the year was approximately $175,611

Discontinued Operations and Ass

Discontinued Operations and Assets Held for Sale	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations and Assets Held for Sale	Discontinued Operations and Assets Held for Sale As discussed in Note 1 , Description of Business , on August 9, 2018 , the Company announced that it planned to focus on its principal markets and would divest certain of its other markets . The principal markets that will remain (the Continuing Operations) include Brazil, Chile, Mexico, and Peru, along with the Online & Partnerships segment and the institutions in Australia and New Zealand. At the time of the announcement on August 9, 2018 , the markets being divested by sale ( the Discontinued Operations) included the institutions in Portugal and Spain, which were part of the Andean segment, all remaining institutions in the Central America & U.S. Campuses segment, and all remaining institutions in the Rest of World segment, except for Australia, New Zealand and the managed institutions in the Kingdom of Saudi Arabia and China. The institutions in the Kingdom of Saudi Arabia were managed under a contract that expired at the end of August 2019 and was not renewed. Accordingly, these institutions were disposed of other than by sale on August 31, 2019 and, beginning in the third quarter of 2019, have been included in Discontinued Operations for all periods presented . As of September 30, 2019 , one VIE institution in Honduras is included in the Discontinued Operations. The divestitures are expected to create a more focused and simplified business model and generate proceeds that have been and will be used for further repayment of long-term debt. The timing and ability to complete any of these transactions is uncertain and will be subject to market and other conditions, which may include regulatory approvals and consents of third parties. Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables: For the three months ended September 30, 2019 2018 Revenues $ 65,316 $ 160,278 Depreciation and amortization 339 6,991 Share-based compensation expense 119 173 Loss on impairment of assets 25,000 — Other direct costs 64,681 188,284 Operating loss (24,823 ) (35,170 ) Other non-operating expense (252 ) (5,674 ) Pretax loss of discontinued operations (25,075 ) (40,844 ) Income tax (expense) benefit (2,062 ) 2,939 Loss from discontinued operations, net of tax $ (27,137 ) $ (37,905 ) For the nine months ended September 30, 2019 2018 Revenues $ 446,002 $ 673,975 Depreciation and amortization 1,176 28,776 Share-based compensation expense 387 920 Loss on impairment of assets 25,000 — Other direct costs 343,317 561,528 Operating income 76,122 82,751 Other non-operating income (loss) 6,276 (18,794 ) Pretax income of discontinued operations 82,398 63,957 Income tax expense (15,926 ) (40,406 ) Income from discontinued operations, net of tax $ 66,472 $ 23,551 Operating cash flows of discontinued operations $ 45,237 $ 155,367 Investing cash flows of discontinued operations $ (16,007 ) $ (40,043 ) Financing cash flows of discontinued operations $ (44,984 ) $ (17,306 ) The assets and liabilities of the Discontinued Operations, which are subject to finalization, have been classified as held for sale as of September 30, 2019 and December 31, 2018 , in accordance with ASC 205. The assets and liabilities are recorded at the lower of their carrying values or their estimated ‘fair values less costs to sell.’ In addition to the Discontinued Operations, Centro Universitário do Norte (UniNorte), a traditional higher education institution located in the city of Manaus, Brazil, has also been classified as held for sale as of September 30, 2019 and December 31, 2018 . UniNorte is included in Continuing Operations as it is not part of the strategic shift described above. As described below, on April 16, 2019 , the Company entered into an agreement to divest UniNorte and the sale of UniNorte closed on November 1, 2019 . See Note 21 , Subsequent Events . The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are presented in the following tables: September 30, 2019 December 31, 2018 Assets of Discontinued Operations Cash and cash equivalents $ 62,194 $ 215,644 Receivables, net 42,277 62,576 Property and equipment, net 259,884 671,121 Goodwill 9,613 131,329 Tradenames 6,893 124,932 Operating lease right-of-use assets, net 66,673 — Other assets 61,056 106,326 Subtotal: assets of Discontinued Operations $ 508,590 $ 1,311,928 Other assets classified as held for sale: UniNorte Brazil Receivables, net $ 6,969 $ 6,983 Property and equipment, net 13,193 16,726 Goodwill 14,083 15,165 Tradenames 7,565 8,146 Operating lease right-of-use assets, net 15,244 — Other assets 6,161 13,935 Other land and buildings classified as held for sale Property and equipment, net 8,374 — Subtotal: other assets classified as held for sale $ 71,589 $ 60,955 Total assets held for sale $ 580,179 $ 1,372,883 September 30, 2019 December 31, 2018 Liabilities of Discontinued Operations Deferred revenue and student deposits $ 53,885 $ 115,969 Operating leases, including current portion 71,411 — Long-term debt and finance leases, including current portion 56,054 279,612 Other liabilities 91,094 269,558 Subtotal: liabilities of Discontinued Operations $ 272,444 $ 665,139 Other liabilities classified as held for sale: UniNorte Brazil Deferred revenue and student deposits $ 1,768 $ 469 Operating leases, including current portion 10,119 — Long-term debt and finance leases, including current portion 2,250 5,370 Other liabilities 8,554 9,405 Subtotal: other liabilities classified as held for sale $ 22,691 $ 15,244 Total liabilities held for sale $ 295,135 $ 680,383 Sale Agreements Signed in 2019 and Pending Closure as of September 30, 2019 Agreement to Sell UniNorte On April 16, 2019 , Rede Internacional de Universidades Laureate Ltda., a limited business company organized under the laws of Brazil (the UniNorte Seller), which is an indirect wholly owned subsidiary of the Company, entered into a Quota Assignment and Transfer Agreement (the UniNorte Agreement) with Cenesup - Centro Nacional de Ensino Superior Ltda., a limited liability company organized under the laws of Brazil (the UniNorte Purchaser), which is an indirect wholly owned subsidiary of Ser Educacional S.A., a company organized under the laws of Brazil (Ser). Pursuant to the UniNorte Agreement, the UniNorte Purchaser will purchase from the UniNorte Seller 100% of the quota capital of Sodecam - Sociedade de Desenvolvimento Cultural do Amazonas Ltda., a limited liability company organized under the laws of Brazil, which is the maintaining entity of UniNorte. The Company and Ser are also parties to the Agreement as guarantors of certain obligations of their respective subsidiaries. The transaction enterprise value under the UniNorte Agreement is 194,800 Brazilian Reais (BRL) (or approximately $46,600 as of September 30, 2019 ), which includes the assumption of net debt in the amount of approximately BRL 9,800 (or approximately $2,300 as of September 30, 2019 ). The transaction closed on November 1, 2019 , following the completion of customary closing conditions, including approval by the Brazilian competition authorities. Agreement to Sell NewSchool of Architecture and Design, LLC (NSAD) On June 14, 2019, the Company and Exeter Street Holdings, LLC, an indirect wholly owned subsidiary of the Company, entered into a membership interests purchase agreement with Ambow NSAD, Inc. and Ambow Education Holding, Ltd. (the NSAD Buyers) to sell 100% of the outstanding membership interests of NSAD to the NSAD Buyers for a purchase price of one dollar, subject to certain adjustments. In addition, under the terms of the agreement, the Company estimates that it will pay subsidies to the NSAD Buyers for continued operations and campus facilities of up to approximately $5,800 . The closing of the sale is subject to regulatory approvals and other conditions precedent, which could take approximately six months from the date of the purchase agreement. NSAD is a higher education institution located in California that offers undergraduate and graduate degrees and non-degree certificates in design and construction management. Other Matters Inti Education Holdings Sdn. Bhd. (Inti Holdings) As previously reported, on December 11, 2017, Exeter Street Holdings Sdn. Bhd., a Malaysia corporation (Exeter Street), and Laureate Education Asia Limited, a Hong Kong corporation (Laureate Asia), both of which are indirect wholly owned subsidiaries of the Company, entered into a sale purchase agreement (as amended on January 17, 2019, the Inti Agreement) with Comprehensive Education Pte. Ltd., a Singapore corporation (Comprehensive, the purchaser) that is an affiliate of Affinity Equity Partners, a private equity firm based in Hong Kong. Pursuant to the Inti Agreement, Comprehensive agreed to purchase from Exeter Street all of the issued and outstanding shares in the capital of Inti Holdings, and Laureate Asia agreed to guarantee certain obligations of Exeter Street. Inti Holdings is the indirect owner of INTI University and Colleges, a higher education institution with five campuses in Malaysia. The closing of the transaction under the Inti Agreement was subject to certain conditions, including approval by regulators in Malaysia, which approval was obtained on June 24, 2019. On June 25, 2019, the Company notified Comprehensive that the conditions precedent had been duly satisfied and scheduled closing for July 12, 2019. On July 9, 2019, Comprehensive notified the Company that it disagreed with the Company’s position that the conditions precedent had been satisfied and formally moved to terminate the Inti Agreement, an act viewed by the Company as a repudiatory breach of the Inti Agreement. The Company is currently evaluating all options and continues to classify Inti Holdings as a discontinued operation. Dispositions Sale of the University of St. Augustine for Health Sciences, LLC (St. Augustine) As previously disclosed in our 2018 Form 10-K, the sale of St. Augustine was completed on February 1, 2019 . The total transaction value under the sale agreement was $400,000 . Upon completion of the sale, the Company received net proceeds of approximately $346,400 , which included $11,700 of customary closing adjustments, and was net of $58,100 of debt assumed by the purchaser and fees of $7,200 . The proceeds net of cash sold were approximately $301,800 , which the Company used to repay outstanding indebtedness under its U.S. term loan and revolving credit facility. The Company recognized a gain on the sale of approximately $223,000 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of Thailand Operations As previously disclosed in our 2018 Form 10-K, on February 12, 2019, the Company completed the sale of its interests in Thai Education Holdings Company Limited, a Thailand corporation (TEDCO), and Far East Stamford International Co. Ltd. (FES), a Thailand corporation. TEDCO was the owner of a controlling interest in FES, which was the license holder for Stamford International University, which had three campuses in Thailand. The total purchase price was approximately $35,300 , and net proceeds were approximately $26,400 , net of debt assumed by the buyer and other customary closing adjustments and fees. Of the $26,400 in net proceeds, $22,200 , or $18,800 net of cash sold, was received at closing. The balance of $4,200 was payable upon satisfaction of certain post-closing requirements; the first post-closing requirement was satisfied in May 2019 and the Company received $2,800 , leaving a remaining receivable of $1,400 . The Company recognized a gain on the sale of approximately $10,800 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Additional Gain on Sale of China Operations As previously disclosed in our 2018 Form 10-K, on January 25, 2018 , the Company completed the sale of LEI Lie Ying Limited (LEILY). A portion of the purchase price was held back and subject to deduction of any indemnifiable losses payable to the buyer pursuant to the sale purchase agreement. On January 25, 2019, Laureate received HKD 71,463 (approximately US $9,100 at date of receipt) for the second and final holdback payment, net of legal fees. Also, as of December 31, 2018, the Company had recorded a liability of approximately $14,300 related to loss contingencies for which the Company had indemnified the buyer. During the first quarter of 2019, the legal matter that this loss contingency related to was settled, with no cost to the Company. Accordingly, during the first quarter of 2019, the Company reversed the loss contingency and recognized additional gain on the sale of LEILY of approximately $13,700 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . The remaining liability recorded relates to certain legal fees. Additionally, at the closing of the sale on January 25, 2018 , a portion of the total transaction value was paid into an escrow account and will be distributed to the Company pursuant to the terms and conditions of the escrow agreement. As of both September 30, 2019 and December 31, 2018, the Company has recorded a receivable of approximately $25,900 for the portion of the escrowed amount that the Company expects to receive. Sale of Monash South Africa On April 8, 2019, the Company completed the sale of its institution in South Africa, Monash South Africa, as well as the sale of the real estate associated with that institution. The transactions consisted of: (i) the transfer by Monash South Africa Limited (MSA), an Australia limited company that is an indirect 75% -owned subsidiary of the Company, to The Independent Institute of Education Limited (IIE), a South Africa limited company that is a subsidiary of ADvTECH Limited, of all of MSA’s assets and certain of its operational liabilities for a sale price of 15,000 South African Rand (ZAR) (subject to customary adjustments) (or approximately $1,100 at the closing date) and (ii) the sale by LEI AMEA Investments B.V., a Netherlands limited company that is an indirect wholly owned subsidiary of the Company, of all of the shares of Laureate South Africa Pty. Ltd. (LSA), a South Africa limited company, to IIE for a net sale price of approximately ZAR 99,000 (subject to customary adjustments) (or approximately $7,000 at the closing date). In addition, IIE assumed debt of approximately $20,200 . In the aggregate, including working capital adjustments, the Company received approximately $9,000 from the buyer, which approximated the amount of cash sold with the business. The Company recognized a gain for these transactions of approximately $2,300 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of India Operations On May 9, 2019, LEI Singapore Holdings Pte Limited, a Singapore corporation, Laureate I B.V., a Netherlands private limited company (Laureate I), and Laureate International B.V., a Netherlands private limited company (collectively, the India Sellers), all of which are indirect wholly owned subsidiaries of the Company, closed a transaction pursuant to the share purchase agreement (the India Agreement), among the India Sellers, Global University Systems India Bidco B.V., a Netherlands private limited liability company (the India Purchaser) and Global University Systems Holding B.V. (the India Purchaser Guarantor), a Netherlands private limited liability company. Pursuant to the India Agreement, the India Purchaser acquired from the India Sellers all of the issued and outstanding shares in the capital of Pearl Retail Solutions Private Limited, an India corporation (PRS), M-Power Energy India Private Limited (M-Power), an India corporation, and Data Ram Sons Private Limited (Data Ram), an India corporation. As a result of the closing of the transaction, the Company no longer consolidates its network institutions in India, including Creative Arts Education Society (CAES), the operator of Pearl Academy, and University of Petroleum and Energy Studies (UPES). In connection with the India Agreement, certain of the India Sellers also closed a separate transaction with the minority owners of PRS relating to the purchase by them of the minority owners’ 10% interest in PRS. The total purchase price under the India Agreement was $145,600 . The net proceeds received by the India Sellers, before the payment to the 10% minority owners and after transaction fees and taxes, including receipt in July 2019 of certain taxes withheld at closing, were approximately $145,800 , or approximately $77,300 net of cash sold, which the Company used to repay indebtedness under its term loan that had a maturity date of April 2024 (the 2024 Term Loan). The Company recognized a gain for these transactions of approximately $19,500 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of Spain and Portugal Operations On May 31, 2019 , Iniciativas Culturales de España S.L., a Spanish private limited liability company (ICE), and Laureate I, both of which are indirect wholly owned subsidiaries of the Company, closed a previously announced transaction pursuant to the sale and purchase agreement (the Spain and Portugal Sale Agreement) with Samarinda Investments, S.L., a Spanish limited liability company (Samarinda). Pursuant to the Spain and Portugal Sale Agreement, Samarinda acquired from ICE all of the issued and outstanding shares in the capital of each of Universidad Europea de Madrid, S.L.U., Iniciativas Educativas de Mallorca, S.L.U., Iniciativa Educativa UEA, S.L.U., Universidad Europea de Canarias, S.L.U., and Universidad Europea de Valencia, S.L.U. (together, the Spain Companies), and Samarinda acquired from Laureate I all of the issued and outstanding shares in the capital of Ensilis—Educação e Formação, Unipessoal, Lda. (the Portugal Company). Three of the Spain Companies are the entities that operate Universidad Europea de Madrid, Universidad Europea de Canarias, and Universidad Europea de Valencia. The Portugal Company is the entity that operates Universidade Europeia, a comprehensive university in Portugal, and Instituto Português de Administração de Marketing (IPAM Lisbon and IPAM Porto), post-secondary schools of marketing in Portugal. The total purchase price under the Spain and Portugal Sale Agreement was EUR 770,000 (or approximately $857,000 at the date of closing), subject to customary closing adjustments. After payment of transaction fees, receipt of working capital and other adjustments, as well as settlement of foreign currency swaps, the total net proceeds received by ICE and Laureate I were approximately $906,000 , or approximately $760,000 net of cash sold, which the Company used to repay indebtedness, including full repayment of the remaining balance outstanding under the 2024 Term Loan. Additionally, the buyer assumed debt of approximately $109,000 . The Company recognized a gain for these transactions of approximately $615,000 , including a tax benefit of approximately $30,000 that relates to the reversal of net deferred tax liabilities, which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of Turkey Operations On August 27, 2019 , Laureate I B.V. and Can Uluslararasi Yatirim Holding A.Ş. (Can Holding), a Turkish company, executed and closed a Sale and Purchase Agreement (the Turkey SPA). Pursuant to the Turkey SPA, Can Holding purchased from Laureate I B.V. 100% of the share capital of Education Turkey B.V. (ET), a private limited liability company incorporated under the laws of the Netherlands. ET and certain of its direct and indirect subsidiaries and affiliates together have the right to appoint a majority of the Trustees of Bilgi Eğitim ve Kültür Vakfı (Bilgi Foundation). Bilgi Foundation is the sponsor of Istanbul Bilgi University (Bilgi), an institution located in Turkey that the Company previously consolidated under the variable interest entity model. As a result of the closing of the Turkey SPA on August 27, 2019, the Company no longer consolidates Bilgi. The total purchase price was $90,000 , which consisted of cash proceeds of $75,000 and deferred purchase price of $15,000 in the form of an instrument payable one year after closing. The deferred purchase price carries no stated interest rate. At the date of sale, Bilgi had approximately $89,000 of cash and restricted cash on its balance sheet. The Company recognized a loss for this transaction of approximately $37,000 , which is included in gain/(loss) on sales of discontinued operations on the Consolidated Statements of Operations for the three and nine months ended September 30, 2019 .

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Discontinued Operations and Assets Held for Sale As discussed in Note 1 , Description of Business , on August 9, 2018 , the Company announced that it planned to focus on its principal markets and would divest certain of its other markets . The principal markets that will remain (the Continuing Operations) include Brazil, Chile, Mexico, and Peru, along with the Online & Partnerships segment and the institutions in Australia and New Zealand. At the time of the announcement on August 9, 2018 , the markets being divested by sale ( the Discontinued Operations) included the institutions in Portugal and Spain, which were part of the Andean segment, all remaining institutions in the Central America & U.S. Campuses segment, and all remaining institutions in the Rest of World segment, except for Australia, New Zealand and the managed institutions in the Kingdom of Saudi Arabia and China. The institutions in the Kingdom of Saudi Arabia were managed under a contract that expired at the end of August 2019 and was not renewed. Accordingly, these institutions were disposed of other than by sale on August 31, 2019 and, beginning in the third quarter of 2019, have been included in Discontinued Operations for all periods presented . As of September 30, 2019 , one VIE institution in Honduras is included in the Discontinued Operations. The divestitures are expected to create a more focused and simplified business model and generate proceeds that have been and will be used for further repayment of long-term debt. The timing and ability to complete any of these transactions is uncertain and will be subject to market and other conditions, which may include regulatory approvals and consents of third parties. Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables: For the three months ended September 30, 2019 2018 Revenues $ 65,316 $ 160,278 Depreciation and amortization 339 6,991 Share-based compensation expense 119 173 Loss on impairment of assets 25,000 — Other direct costs 64,681 188,284 Operating loss (24,823 ) (35,170 ) Other non-operating expense (252 ) (5,674 ) Pretax loss of discontinued operations (25,075 ) (40,844 ) Income tax (expense) benefit (2,062 ) 2,939 Loss from discontinued operations, net of tax $ (27,137 ) $ (37,905 ) For the nine months ended September 30, 2019 2018 Revenues $ 446,002 $ 673,975 Depreciation and amortization 1,176 28,776 Share-based compensation expense 387 920 Loss on impairment of assets 25,000 — Other direct costs 343,317 561,528 Operating income 76,122 82,751 Other non-operating income (loss) 6,276 (18,794 ) Pretax income of discontinued operations 82,398 63,957 Income tax expense (15,926 ) (40,406 ) Income from discontinued operations, net of tax $ 66,472 $ 23,551 Operating cash flows of discontinued operations $ 45,237 $ 155,367 Investing cash flows of discontinued operations $ (16,007 ) $ (40,043 ) Financing cash flows of discontinued operations $ (44,984 ) $ (17,306 ) The assets and liabilities of the Discontinued Operations, which are subject to finalization, have been classified as held for sale as of September 30, 2019 and December 31, 2018 , in accordance with ASC 205. The assets and liabilities are recorded at the lower of their carrying values or their estimated ‘fair values less costs to sell.’ In addition to the Discontinued Operations, Centro Universitário do Norte (UniNorte), a traditional higher education institution located in the city of Manaus, Brazil, has also been classified as held for sale as of September 30, 2019 and December 31, 2018 . UniNorte is included in Continuing Operations as it is not part of the strategic shift described above. As described below, on April 16, 2019 , the Company entered into an agreement to divest UniNorte and the sale of UniNorte closed on November 1, 2019 . See Note 21 , Subsequent Events . The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are presented in the following tables: September 30, 2019 December 31, 2018 Assets of Discontinued Operations Cash and cash equivalents $ 62,194 $ 215,644 Receivables, net 42,277 62,576 Property and equipment, net 259,884 671,121 Goodwill 9,613 131,329 Tradenames 6,893 124,932 Operating lease right-of-use assets, net 66,673 — Other assets 61,056 106,326 Subtotal: assets of Discontinued Operations $ 508,590 $ 1,311,928 Other assets classified as held for sale: UniNorte Brazil Receivables, net $ 6,969 $ 6,983 Property and equipment, net 13,193 16,726 Goodwill 14,083 15,165 Tradenames 7,565 8,146 Operating lease right-of-use assets, net 15,244 — Other assets 6,161 13,935 Other land and buildings classified as held for sale Property and equipment, net 8,374 — Subtotal: other assets classified as held for sale $ 71,589 $ 60,955 Total assets held for sale $ 580,179 $ 1,372,883 September 30, 2019 December 31, 2018 Liabilities of Discontinued Operations Deferred revenue and student deposits $ 53,885 $ 115,969 Operating leases, including current portion 71,411 — Long-term debt and finance leases, including current portion 56,054 279,612 Other liabilities 91,094 269,558 Subtotal: liabilities of Discontinued Operations $ 272,444 $ 665,139 Other liabilities classified as held for sale: UniNorte Brazil Deferred revenue and student deposits $ 1,768 $ 469 Operating leases, including current portion 10,119 — Long-term debt and finance leases, including current portion 2,250 5,370 Other liabilities 8,554 9,405 Subtotal: other liabilities classified as held for sale $ 22,691 $ 15,244 Total liabilities held for sale $ 295,135 $ 680,383 Sale Agreements Signed in 2019 and Pending Closure as of September 30, 2019 Agreement to Sell UniNorte On April 16, 2019 , Rede Internacional de Universidades Laureate Ltda., a limited business company organized under the laws of Brazil (the UniNorte Seller), which is an indirect wholly owned subsidiary of the Company, entered into a Quota Assignment and Transfer Agreement (the UniNorte Agreement) with Cenesup - Centro Nacional de Ensino Superior Ltda., a limited liability company organized under the laws of Brazil (the UniNorte Purchaser), which is an indirect wholly owned subsidiary of Ser Educacional S.A., a company organized under the laws of Brazil (Ser). Pursuant to the UniNorte Agreement, the UniNorte Purchaser will purchase from the UniNorte Seller 100% of the quota capital of Sodecam - Sociedade de Desenvolvimento Cultural do Amazonas Ltda., a limited liability company organized under the laws of Brazil, which is the maintaining entity of UniNorte. The Company and Ser are also parties to the Agreement as guarantors of certain obligations of their respective subsidiaries. The transaction enterprise value under the UniNorte Agreement is 194,800 Brazilian Reais (BRL) (or approximately $46,600 as of September 30, 2019 ), which includes the assumption of net debt in the amount of approximately BRL 9,800 (or approximately $2,300 as of September 30, 2019 ). The transaction closed on November 1, 2019 , following the completion of customary closing conditions, including approval by the Brazilian competition authorities. Agreement to Sell NewSchool of Architecture and Design, LLC (NSAD) On June 14, 2019, the Company and Exeter Street Holdings, LLC, an indirect wholly owned subsidiary of the Company, entered into a membership interests purchase agreement with Ambow NSAD, Inc. and Ambow Education Holding, Ltd. (the NSAD Buyers) to sell 100% of the outstanding membership interests of NSAD to the NSAD Buyers for a purchase price of one dollar, subject to certain adjustments. In addition, under the terms of the agreement, the Company estimates that it will pay subsidies to the NSAD Buyers for continued operations and campus facilities of up to approximately $5,800 . The closing of the sale is subject to regulatory approvals and other conditions precedent, which could take approximately six months from the date of the purchase agreement. NSAD is a higher education institution located in California that offers undergraduate and graduate degrees and non-degree certificates in design and construction management. Other Matters Inti Education Holdings Sdn. Bhd. (Inti Holdings) As previously reported, on December 11, 2017, Exeter Street Holdings Sdn. Bhd., a Malaysia corporation (Exeter Street), and Laureate Education Asia Limited, a Hong Kong corporation (Laureate Asia), both of which are indirect wholly owned subsidiaries of the Company, entered into a sale purchase agreement (as amended on January 17, 2019, the Inti Agreement) with Comprehensive Education Pte. Ltd., a Singapore corporation (Comprehensive, the purchaser) that is an affiliate of Affinity Equity Partners, a private equity firm based in Hong Kong. Pursuant to the Inti Agreement, Comprehensive agreed to purchase from Exeter Street all of the issued and outstanding shares in the capital of Inti Holdings, and Laureate Asia agreed to guarantee certain obligations of Exeter Street. Inti Holdings is the indirect owner of INTI University and Colleges, a higher education institution with five campuses in Malaysia. The closing of the transaction under the Inti Agreement was subject to certain conditions, including approval by regulators in Malaysia, which approval was obtained on June 24, 2019. On June 25, 2019, the Company notified Comprehensive that the conditions precedent had been duly satisfied and scheduled closing for July 12, 2019. On July 9, 2019, Comprehensive notified the Company that it disagreed with the Company’s position that the conditions precedent had been satisfied and formally moved to terminate the Inti Agreement, an act viewed by the Company as a repudiatory breach of the Inti Agreement. The Company is currently evaluating all options and continues to classify Inti Holdings as a discontinued operation. Dispositions Sale of the University of St. Augustine for Health Sciences, LLC (St. Augustine) As previously disclosed in our 2018 Form 10-K, the sale of St. Augustine was completed on February 1, 2019 . The total transaction value under the sale agreement was $400,000 . Upon completion of the sale, the Company received net proceeds of approximately $346,400 , which included $11,700 of customary closing adjustments, and was net of $58,100 of debt assumed by the purchaser and fees of $7,200 . The proceeds net of cash sold were approximately $301,800 , which the Company used to repay outstanding indebtedness under its U.S. term loan and revolving credit facility. The Company recognized a gain on the sale of approximately $223,000 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of Thailand Operations As previously disclosed in our 2018 Form 10-K, on February 12, 2019, the Company completed the sale of its interests in Thai Education Holdings Company Limited, a Thailand corporation (TEDCO), and Far East Stamford International Co. Ltd. (FES), a Thailand corporation. TEDCO was the owner of a controlling interest in FES, which was the license holder for Stamford International University, which had three campuses in Thailand. The total purchase price was approximately $35,300 , and net proceeds were approximately $26,400 , net of debt assumed by the buyer and other customary closing adjustments and fees. Of the $26,400 in net proceeds, $22,200 , or $18,800 net of cash sold, was received at closing. The balance of $4,200 was payable upon satisfaction of certain post-closing requirements; the first post-closing requirement was satisfied in May 2019 and the Company received $2,800 , leaving a remaining receivable of $1,400 . The Company recognized a gain on the sale of approximately $10,800 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Additional Gain on Sale of China Operations As previously disclosed in our 2018 Form 10-K, on January 25, 2018 , the Company completed the sale of LEI Lie Ying Limited (LEILY). A portion of the purchase price was held back and subject to deduction of any indemnifiable losses payable to the buyer pursuant to the sale purchase agreement. On January 25, 2019, Laureate received HKD 71,463 (approximately US $9,100 at date of receipt) for the second and final holdback payment, net of legal fees. Also, as of December 31, 2018, the Company had recorded a liability of approximately $14,300 related to loss contingencies for which the Company had indemnified the buyer. During the first quarter of 2019, the legal matter that this loss contingency related to was settled, with no cost to the Company. Accordingly, during the first quarter of 2019, the Company reversed the loss contingency and recognized additional gain on the sale of LEILY of approximately $13,700 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . The remaining liability recorded relates to certain legal fees. Additionally, at the closing of the sale on January 25, 2018 , a portion of the total transaction value was paid into an escrow account and will be distributed to the Company pursuant to the terms and conditions of the escrow agreement. As of both September 30, 2019 and December 31, 2018, the Company has recorded a receivable of approximately $25,900 for the portion of the escrowed amount that the Company expects to receive. Sale of Monash South Africa On April 8, 2019, the Company completed the sale of its institution in South Africa, Monash South Africa, as well as the sale of the real estate associated with that institution. The transactions consisted of: (i) the transfer by Monash South Africa Limited (MSA), an Australia limited company that is an indirect 75% -owned subsidiary of the Company, to The Independent Institute of Education Limited (IIE), a South Africa limited company that is a subsidiary of ADvTECH Limited, of all of MSA’s assets and certain of its operational liabilities for a sale price of 15,000 South African Rand (ZAR) (subject to customary adjustments) (or approximately $1,100 at the closing date) and (ii) the sale by LEI AMEA Investments B.V., a Netherlands limited company that is an indirect wholly owned subsidiary of the Company, of all of the shares of Laureate South Africa Pty. Ltd. (LSA), a South Africa limited company, to IIE for a net sale price of approximately ZAR 99,000 (subject to customary adjustments) (or approximately $7,000 at the closing date). In addition, IIE assumed debt of approximately $20,200 . In the aggregate, including working capital adjustments, the Company received approximately $9,000 from the buyer, which approximated the amount of cash sold with the business. The Company recognized a gain for these transactions of approximately $2,300 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of India Operations On May 9, 2019, LEI Singapore Holdings Pte Limited, a Singapore corporation, Laureate I B.V., a Netherlands private limited company (Laureate I), and Laureate International B.V., a Netherlands private limited company (collectively, the India Sellers), all of which are indirect wholly owned subsidiaries of the Company, closed a transaction pursuant to the share purchase agreement (the India Agreement), among the India Sellers, Global University Systems India Bidco B.V., a Netherlands private limited liability company (the India Purchaser) and Global University Systems Holding B.V. (the India Purchaser Guarantor), a Netherlands private limited liability company. Pursuant to the India Agreement, the India Purchaser acquired from the India Sellers all of the issued and outstanding shares in the capital of Pearl Retail Solutions Private Limited, an India corporation (PRS), M-Power Energy India Private Limited (M-Power), an India corporation, and Data Ram Sons Private Limited (Data Ram), an India corporation. As a result of the closing of the transaction, the Company no longer consolidates its network institutions in India, including Creative Arts Education Society (CAES), the operator of Pearl Academy, and University of Petroleum and Energy Studies (UPES). In connection with the India Agreement, certain of the India Sellers also closed a separate transaction with the minority owners of PRS relating to the purchase by them of the minority owners’ 10% interest in PRS. The total purchase price under the India Agreement was $145,600 . The net proceeds received by the India Sellers, before the payment to the 10% minority owners and after transaction fees and taxes, including receipt in July 2019 of certain taxes withheld at closing, were approximately $145,800 , or approximately $77,300 net of cash sold, which the Company used to repay indebtedness under its term loan that had a maturity date of April 2024 (the 2024 Term Loan). The Company recognized a gain for these transactions of approximately $19,500 , which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of Spain and Portugal Operations On May 31, 2019 , Iniciativas Culturales de España S.L., a Spanish private limited liability company (ICE), and Laureate I, both of which are indirect wholly owned subsidiaries of the Company, closed a previously announced transaction pursuant to the sale and purchase agreement (the Spain and Portugal Sale Agreement) with Samarinda Investments, S.L., a Spanish limited liability company (Samarinda). Pursuant to the Spain and Portugal Sale Agreement, Samarinda acquired from ICE all of the issued and outstanding shares in the capital of each of Universidad Europea de Madrid, S.L.U., Iniciativas Educativas de Mallorca, S.L.U., Iniciativa Educativa UEA, S.L.U., Universidad Europea de Canarias, S.L.U., and Universidad Europea de Valencia, S.L.U. (together, the Spain Companies), and Samarinda acquired from Laureate I all of the issued and outstanding shares in the capital of Ensilis—Educação e Formação, Unipessoal, Lda. (the Portugal Company). Three of the Spain Companies are the entities that operate Universidad Europea de Madrid, Universidad Europea de Canarias, and Universidad Europea de Valencia. The Portugal Company is the entity that operates Universidade Europeia, a comprehensive university in Portugal, and Instituto Português de Administração de Marketing (IPAM Lisbon and IPAM Porto), post-secondary schools of marketing in Portugal. The total purchase price under the Spain and Portugal Sale Agreement was EUR 770,000 (or approximately $857,000 at the date of closing), subject to customary closing adjustments. After payment of transaction fees, receipt of working capital and other adjustments, as well as settlement of foreign currency swaps, the total net proceeds received by ICE and Laureate I were approximately $906,000 , or approximately $760,000 net of cash sold, which the Company used to repay indebtedness, including full repayment of the remaining balance outstanding under the 2024 Term Loan. Additionally, the buyer assumed debt of approximately $109,000 . The Company recognized a gain for these transactions of approximately $615,000 , including a tax benefit of approximately $30,000 that relates to the reversal of net deferred tax liabilities, which is included in gain on sales of discontinued operations on the consolidated statement of operations for the nine months ended September 30, 2019 . Sale of Turkey Operations On August 27, 2019 , Laureate I B.V. and Can Uluslararasi Yatirim Holding A.Ş. (Can Holding), a Turkish company, executed and closed a Sale and Purchase Agreement (the Turkey SPA). Pursuant to the Turkey SPA, Can Holding purchased from Laureate I B.V. 100% of the share capital of Education Turkey B.V. (ET), a private limited liability company incorporated under the laws of the Netherlands. ET and certain of its direct and indirect subsidiaries and affiliates together have the right to appoint a majority of the Trustees of Bilgi Eğitim ve Kültür Vakfı (Bilgi Foundation). Bilgi Foundation is the sponsor of Istanbul Bilgi University (Bilgi), an institution located in Turkey that the Company previously consolidated under the variable interest entity model. As a result of the closing of the Turkey SPA on August 27, 2019, the Company no longer consolidates Bilgi. The total purchase price was $90,000 , which consisted of cash proceeds of $75,000 and deferred purchase price of $15,000 in the form of an instrument payable one year after closing. The deferred purchase price carries no stated interest rate. At the date of sale, Bilgi had approximately $89,000 of cash and restricted cash on its balance sheet. The Company recognized a loss for this transaction of approximately $37,000 , which is included in gain/(loss) on sales of discontinued operations on the Consolidated Statements of Operations for the three and nine months ended September 30, 2019 .

Due to Shareholders of Acquired

Due to Shareholders of Acquired Companies	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Due to Shareholders of Acquired Companies	Due to Shareholders of Acquired Companies The amounts due to shareholders of acquired companies generally arise in connection with Laureate’s acquisition of a majority or all of the ownership interest of these companies. Promissory notes payable to the sellers of acquired companies, referred to as “seller notes,” are commonly used as a means of payment for business acquisitions. Seller note payments are classified as Payments of deferred purchase price for acquisitions within financing activities in our Consolidated Statements of Cash Flows. The amounts due to shareholders of acquired companies, currencies, and interest rates applied were as follows: September 30, 2019 December 31, 2018 Nominal Currency Interest Universidade Anhembi Morumbi (UAM Brazil) $ 20,145 $ 30,912 BRL CDI + 2% IADE Group 1,096 1,141 EUR 3% Faculdade Porto-Alegrense (FAPA) 217 1,943 BRL IGP-M University of St. Augustine for Health Sciences, LLC (St. Augustine) — 11,395 USD 7% Total due to shareholders of acquired companies 21,458 45,391 Less: Current portion of due to shareholders of acquired companies 11,502 23,820 Due to shareholders of acquired companies, less current portion $ 9,956 $ 21,571 BRL: Brazilian Real CDI: Certificados de Depósitos Interbancários (Brazil) EUR: European Euro IGP-M: General Index of Market Prices (Brazil) USD: United States Dollar FAPA In August 2019, the FAPA seller note matured and was settled, with an amount of $217 withheld from the payment. This amount relates to certain contingencies for which we are indemnified by the seller. This amount will remain until the contingencies have been resolved. St. Augustine During the second quarter of 2019, the Company fully repaid the St. Augustine seller note, following the resolution of certain legal matters for which the Company was indemnified by the former owner, as previously disclosed in our 2018 10-K.

Business and Geographic Segment

Business and Geographic Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business and Geographic Segment Information	Business and Geographic Segment Information Laureate’s educational services are offered through six operating segments: Brazil, Mexico, Andean, Central America & U.S. Campuses, Rest of World and Online & Partnerships. Laureate determines its operating segments based on information utilized by the chief operating decision maker to allocate resources and assess performance. Our campus-based segments generate revenues by providing an education that emphasizes professional-oriented fields of study with undergraduate and graduate degrees in a wide range of disciplines. Our educational offerings are increasingly utilizing online and hybrid (a combination of online and in-classroom) courses and programs to deliver their curriculum. Many of our largest campus-based operations are in developing markets which are experiencing a growing demand for higher education based on favorable demographics and increasing secondary completion rates, driving increases in participation rates and resulting in continued growth in the number of higher education students. Traditional higher education students (defined as 18-24 year olds) have historically been served by public universities, which have limited capacity and are often underfunded, resulting in an inability to meet the growing student demand and employer requirements. This supply and demand imbalance has created a market opportunity for private sector participants. Most students finance their own education. However, there are some government-sponsored student financing programs which are discussed below. The campus-based segments include Brazil, Mexico, Andean, Central America & U.S. Campuses and Rest of World. Specifics related to each of these campus-based segments and our Online & Partnerships segment are discussed below . In Brazil, approximately 75% of post-secondary students are enrolled in private higher education institutions. While the federal government defines the national curricular guidelines, institutions are licensed to operate by city. Laureate owns 13 institutions in eight states throughout Brazil, with a particularly strong presence in the competitive São Paulo market. Many students finance their own education while others rely on the government-sponsored programs such as Prouni and FIES. As described in Note 4 , Discontinued Operations and Assets Held for Sale , on April 16, 2019 , the Company entered into an agreement to divest UniNorte, a traditional higher education institution in Manaus, Brazil. This transaction closed on November 1, 2019. See also Note 21 , Subsequent Events . Public universities in Mexico enroll approximately two thirds of students attending post-secondary education. However, many public institutions are faced with capacity constraints or the quality of the education is considered low. Laureate owns two institutions and is present throughout the country with a footprint of over 40 campuses. Each institution in Mexico has a national license. Students in our Mexican institutions typically finance their own education. The Andean segment includes institutions in Chile and Peru. In Chile, private universities enroll approximately 80% of post-secondary students and there are government-sponsored student financing programs. In Peru, the public sector plays a significant role, but private universities are increasingly providing the capacity to meet growing demand. The Central America & U.S. Campuses segment includes institutions in Costa Rica, Honduras, Panama and the United States. Students in Central America typically finance their own education while students in the United States finance their education in a variety of ways, including U.S. Department of Education (DOE) Title IV programs. The entire Central America & U.S. Campuses segment is included in Discontinued Operations. The Rest of World segment includes campus-based institutions in Asia Pacific with operations in Australia, Malaysia and New Zealand. Additionally, the Rest of World segment manages one institution in China through a joint venture arrangement and, until August 31, 2019 when the contract expired, the Rest of World segment also managed eight licensed institutions in the Kingdom of Saudi Arabia. The institutions in Malaysia and the Kingdom of Saudi Arabia are included in Discontinued Operations. The Online & Partnerships segment includes fully online institutions that offer professionally oriented degree programs in the United States through Walden University (Walden), a U.S.-based accredited institution, and through the University of Liverpool and the University of Roehampton in the United Kingdom. These online institutions primarily serve working adults with undergraduate and graduate degree program offerings. Students in the United States finance their education in a variety of ways, including Title IV programs. We no longer accept new enrollments at the University of Liverpool and the University of Roehampton, which are in a teach-out process . As discussed in Note 1 , Description of Business , and Note 4 , Discontinued Operations and Assets Held for Sale , a number of our subsidiaries have met the requirements to be classified as discontinued operations, including the entire Central America & U.S. Campuses segment . As a result, the operations of the Central America & U.S. Campuses segment have been excluded from the segment information for all periods presented. In addition, the portion of the Rest of World reportable segment that is included in Discontinued Operations has also been excluded from the segment information for all periods presented. Intersegment transactions are accounted for in a similar manner as third-party transactions and are eliminated in consolidation. The Corporate amounts presented in the following tables include corporate charges that were not allocated to our reportable segments and adjustments to eliminate intersegment items. We evaluate segment performance based on Adjusted EBITDA, which is a non-GAAP performance measure defined as Income (loss) from continuing operations before income taxes and equity in net income of affiliates, adding back the following items: Loss on sale or disposal of subsidiaries, Foreign currency exchange loss, net , Other income, net , Gain on derivatives , Loss on debt extinguishment , Interest expense , Interest income , Depreciation and amortization expense, Loss on impairment of assets, Share-based compensation expense and expenses related to our Excellence-in-Process (EiP) initiative. EiP is an enterprise-wide initiative to optimize and standardize Laureate’s processes, creating vertical integration of procurement, information technology, finance, accounting and human resources. It included the establishment of regional shared services organizations (SSOs) around the world, as well as improvements to the Company's system of internal controls over financial reporting. The EiP initiative also includes other back- and mid-office areas, as well as certain student-facing activities, expenses associated with streamlining the organizational structure and certain non-recurring costs incurred in connection with the planned dispositions described in Note 4 , Discontinued Operations and Assets Held for Sale , and the completed dispositions described in Note 5 , Dispositions . Beginning in 2019, EiP also includes expenses associated with an enterprise-wide program aimed at revenue growth. When we review Adjusted EBITDA on a segment basis, we exclude intercompany revenues and expenses related to network fees and royalties between our segments, which eliminate in consolidation. We use total assets as the measure of assets for reportable segments. The following tables provide financial information for our reportable segments, including a reconciliation of Adjusted EBITDA to (Loss) income from continuing operations before income taxes and equity in net income of affiliates, as reported in the Consolidated Statements of Operations: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Revenues Brazil $ 114,055 $ 121,089 $ 421,129 $ 469,480 Mexico 145,790 148,325 464,709 463,868 Andean 307,270 299,613 869,207 844,213 Rest of World 52,585 47,701 137,204 131,412 Online & Partnerships 155,501 165,221 476,991 498,207 Corporate (1,502 ) (3,694 ) (2,066 ) (9,418 ) Revenues $ 773,699 $ 778,255 $ 2,367,174 $ 2,397,762 Adjusted EBITDA of reportable segments Brazil $ 3,134 $ 682 $ 31,334 $ 52,600 Mexico 23,064 23,715 80,476 81,965 Andean 92,604 90,610 246,095 235,376 Rest of World 11,455 8,046 20,205 11,968 Online & Partnerships 44,320 45,725 142,755 136,126 Total Adjusted EBITDA of reportable segments 174,577 168,778 520,865 518,035 Reconciling items: Corporate (40,827 ) (45,562 ) (117,895 ) (127,567 ) Depreciation and amortization expense (48,557 ) (52,806 ) (145,108 ) (161,185 ) Loss on impairment of assets — (10,030 ) (470 ) (10,030 ) Share-based compensation expense (1,459 ) (6,388 ) (9,194 ) (9,572 ) EiP expenses (38,004 ) (24,996 ) (77,332 ) (60,292 ) Operating income 45,730 28,996 170,866 149,389 Interest income 3,154 3,502 9,552 9,358 Interest expense (40,319 ) (58,319 ) (136,438 ) (181,746 ) Loss on debt extinguishment (200 ) — (26,417 ) (7,481 ) Gain (loss) on derivatives 284 (144 ) 8,099 92,112 Other income, net 1,038 8,312 9,138 10,815 Foreign currency exchange loss, net (14,777 ) (26,443 ) (10,643 ) (43,959 ) Loss on disposal of subsidiaries (1,474 ) — (1,474 ) — (Loss) income from continuing operations before income taxes and equity in net income of affiliates $ (6,564 ) $ (44,096 ) $ 22,683 $ 28,488 September 30, 2019 December 31, 2018 Assets Brazil $ 1,072,447 $ 1,011,391 Mexico 1,284,743 971,309 Andean 1,922,829 1,608,406 Rest of World 203,881 196,370 Online & Partnerships 1,227,428 1,308,854 Corporate and Discontinued Operations 1,113,385 1,673,306 Total assets $ 6,824,713 $ 6,769,636

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The change in the net carrying amount of Goodwill from December 31, 2018 through September 30, 2019 was composed of the following items: Brazil Mexico Andean Rest of World Online & Partnerships Total Balance at December 31, 2018 $ 406,452 $ 498,219 $ 254,259 $ 87,419 $ 460,740 $ 1,707,089 Acquisitions 1,333 — — — — 1,333 Dispositions — — — — — — Impairments — — — — — — Currency translation adjustments (29,194 ) 10,143 (8,366 ) (3,613 ) — (31,030 ) Adjustments to prior acquisitions — — — — — — Balance at September 30, 2019 $ 378,591 $ 508,362 $ 245,893 $ 83,806 $ 460,740 $ 1,677,392 In March 2019, the Company's indirect, wholly owned subsidiary, UAM Brazil, acquired a company in Brazil that, prior to the acquisition, was a vendor providing distance-learning and marketing services to the Company's Brazil operations. The total purchase price was BRL 5,022 ( $1,333 at the date of purchase), which was recorded as Goodwill given the immaterial nature of the acquisition. The acquiree was merged into UAM Brazil.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Outstanding long-term debt was as follows: September 30, 2019 December 31, 2018 Senior long-term debt: Senior Secured Credit Facility (stated maturity dates of April 2022 as of September 30, 2019 and April 2022 and April 2024 as of December 31, 2018), net of discount $ 59,000 $ 1,321,629 Senior Notes (stated maturity date May 2025) 800,000 800,000 Total senior long-term debt 859,000 2,121,629 Other debt: Lines of credit 28,850 37,899 Notes payable and other debt 358,138 503,182 Total senior and other debt 1,245,988 2,662,710 Finance lease obligations and sale-leaseback financings 99,706 119,443 Total long-term debt and finance leases 1,345,694 2,782,153 Less: total unamortized deferred financing costs 67,412 88,241 Less: current portion of long-term debt and finance leases 119,932 100,818 Long-term debt and finance leases, less current portion $ 1,158,350 $ 2,593,094 Estimated Fair Value of Debt The estimated fair value of our debt was determined using observable market prices, as the majority of our securities, including the Senior Notes due 2025 and the 2024 Term Loan, prior to its repayment in 2019, were traded in a brokered market. The fair value of our remaining debt instruments approximates carrying value based on their terms. As of September 30, 2019 and December 31, 2018 , our long-term debt was classified as Level 2 within the fair value hierarchy, based on the frequency and volume of trading in the brokered market. The estimated fair value of our debt was as follows: September 30, 2019 December 31, 2018 Carrying amount Estimated fair value Carrying amount Estimated fair value Total senior and other debt $ 1,245,988 $ 1,316,988 $ 2,662,710 $ 2,675,684 Loss on Debt Extinguishment As discussed in Note 5 , Dispositions , the Company completed the sale of St. Augustine on February 1, 2019 and used approximately $340,000 of the total $346,400 of net proceeds to repay a portion of the 2024 Term Loan under its Senior Secured Credit Facility, with the remaining proceeds utilized to repay borrowings outstanding for the revolver under its Senior Secured Credit Facility. In addition, during the first quarter of 2019, the Company elected to repay approximately $35,000 of the approximately $51,700 principal balance outstanding for certain notes payable at a real estate subsidiary in Chile. During the second quarter of 2019, the Company fully repaid the remaining balance outstanding under its 2024 Term Loan, using the proceeds received from the sales of its operations in India, Spain and Portugal, as discussed in Note 5 , Dispositions . The remaining proceeds were used to repay borrowings outstanding for the revolver under its Senior Secured Credit Facility. During the third quarter of 2019, following the closing of the Turkey transaction described in Note 5 , Dispositions , the Company fully repaid a note payable at Universidad del Valle de México (UVM Mexico) that had a remaining balance outstanding of approximately $103,000 . In connection with these debt repayments, the Company recorded a Loss on debt extinguishment of $200 and $26,417 for the three and nine months ended September 30, 2019 , respectively, related to the write off of a pro-rata portion of the unamortized deferred financing costs associated with the repaid debt balances, as well as the debt discount associated with the 2024 Term Loan. Certain Covenants As of September 30, 2019 , our senior long-term debt contained certain negative covenants including, among others: (1) limitations on additional indebtedness; (2) limitations on dividends; (3) limitations on asset sales, including the sale of ownership interests in subsidiaries and sale-leaseback transactions; and (4) limitations on liens, guarantees, loans or investments. The Second Amended and Restated Credit Agreement provides, solely with respect to the revolving credit facility, that the Company shall not permit its Consolidated Senior Secured Debt to Consolidated EBITDA ratio, as defined in the Second Amended and Restated Credit Agreement, to exceed 3.50x as of the last day of each quarter ending June 30, 2018 and thereafter. However, the agreement also provides that if (i) the Company’s Consolidated Total Debt to Consolidated EBITDA ratio, as defined in the Second Amended and Restated Credit Agreement, is not greater than 4.75 x as of such date and (ii) less than 25% of the revolving credit facility is utilized as of that date, then such financial covenant shall not apply. As of September 30, 2019 , these conditions were satisfied and, therefore, we were not subject to the leverage ratio covenant. In addition, notes payable at some of our locations contain financial maintenance covenants. We are in compliance with these covenants. As described further in Note 21 , Subsequent Events , the Company completed an amendment and restatement of its Senior Secured Credit Facility on October 7, 2019 .

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases Laureate conducts a significant portion of its operations at leased facilities. These facilities include our corporate headquarters, other office locations, and many of Laureate's higher education facilities. Laureate analyzes each lease agreement to determine whether it should be classified as a finance lease or an operating lease. As a result of adopting ASC Topic 842, we recorded on our balance sheet significant asset and liability balances associated with the operating leases, as described further below. Operating Leases Our operating lease agreements are primarily for real estate space and are included within operating lease ROU assets and operating lease liabilities on the 2019 consolidated balance sheet. The terms of our operating leases vary and generally contain renewal options. Certain of these operating leases provide for increasing rent over the term of the lease. Laureate also leases certain equipment under noncancellable operating leases, which are typically for terms of 60 months or less. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Our variable lease payments consist of non-lease services related to the lease. Variable lease payments are excluded from the ROU assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. Many of our lessee agreements include options to extend the lease, which we do not include in our minimum lease terms unless they are reasonably certain to be exercised. Rental expense for lease payments related to operating leases is recognized on a straight-line basis over the lease term. On occasion, Laureate has entered into sublease agreements for certain leased office space; however, the sublease income from these agreements is immaterial. Supplemental balance sheet information related to leases was as follows: Leases Classification September 30, 2019 Assets: Operating Operating lease right-of-use assets, net $ 871,746 Finance Buildings, Furniture, equipment and software, net 55,073 Total leased assets $ 926,819 Liabilities: Current Operating Current portion of operating leases $ 91,919 Finance Current portion of long-term debt and finance leases 4,838 Non-current Operating Long-term operating leases, less current portion 800,828 Finance Long-term debt and finance leases, less current portion 53,820 Total lease liabilities $ 951,405 Lease Term and Discount Rate September 30, 2019 Weighted average remaining lease terms Operating leases 9.4 years Finance leases 11.9 years Weighted average discount rate Operating leases 9.50 % Finance leases 8.50 % The components of lease cost were as follows: Lease Cost Classification For the three months ended September 30, 2019 For the nine months ended September 30, 2019 Operating lease cost Direct costs $ 42,032 $ 132,546 Finance lease cost Amortization of leased assets Direct costs 1,880 4,518 Interest on leased assets Interest expense 1,264 2,741 Short-term lease costs Direct costs 810 2,800 Variable lease costs Direct costs 4,483 11,056 Sublease income Revenues (1,049 ) (3,260 ) Total lease cost $ 49,420 $ 150,401 As of September 30, 2019 , maturities of lease liabilities were as follows: Maturity of Lease Liability Operating Leases Finance Leases Year 1 $ 169,383 $ 9,473 Year 2 159,432 9,180 Year 3 149,816 8,834 Year 4 140,692 8,354 Year 5 133,134 6,288 Thereafter 571,234 51,095 Total lease payments $ 1,323,691 $ 93,224 Less: interest and inflation (430,944 ) (34,566 ) Present value of lease liabilities $ 892,747 $ 58,658 Supplemental cash flow information related to leases was as follows for the nine months ended September 30, 2019 : Other Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 139,010 Operating cash flows from finance leases $ 2,742 Financing cash flows from finance leases $ 3,128 Leased assets obtained for new finance lease liabilities $ 38,217 Leased assets obtained for new operating lease liabilities $ 6,394 As disclosed in our 2018 Form 10-K, future minimum lease payments at December 31, 2018 , prior to the adoption of ASC Topic 842, by year and in the aggregate, under all noncancellable operating leases were as follows: Lease Payments 2019 $ 151,795 2020 142,995 2021 135,426 2022 128,441 2023 119,955 Thereafter 482,220 Total $ 1,160,832

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Noncontrolling Interest Holder Put Arrangements The following section provides a summary table and description of our noncontrolling interest holder put arrangements, which relate to Discontinued Operations, that Laureate had outstanding as of September 30, 2019 . Laureate has elected to accrete changes in the arrangements’ redemption values over the period from the date of issuance to the earliest redemption date. The redeemable noncontrolling interests are recorded at the greater of the accreted redemption value or the traditional noncontrolling interest. Until the first exercise date, the put instruments’ reported values may be lower than the final amounts that will be required to settle the minority put arrangements. As of September 30, 2019 , the carrying value of all noncontrolling interest holder put arrangements was $10,230 . If the minority put arrangements were all exercised at September 30, 2019 , Laureate would be obligated to pay the noncontrolling interest holders an estimated amount of $10,230 , as summarized in the following table: Nominal Currency First Exercisable Date Estimated Value as of September 30, 2019 redeemable within 12-months Reported Noncontrolling interest holder put arrangements INTI Education Holdings Sdn Bhd (Inti Holdings) - 10.10% MYR Current $ 10,230 $ 10,230 Total noncontrolling interest holder put arrangements 10,230 10,230 Puttable common stock - not currently redeemable USD * — 1,714 Total redeemable noncontrolling interests and equity $ 10,230 $ 11,944 * Contingently redeemable MYR: Malaysian Ringgit Laureate’s noncontrolling interest put arrangements are specified in agreements with each noncontrolling interest holder. The terms of these agreements determine the measurement of the redemption value of the put options based on a non-GAAP measure of earnings before interest, taxes, depreciation and amortization (EBITDA, or recurring EBITDA), the definition of which varies for each particular contract. Loss Contingencies Laureate is subject to legal actions arising in the ordinary course of its business. In management's opinion, we have adequate legal defenses, insurance coverage and/or accrued liabilities with respect to the eventuality of such actions. We do not believe that any settlement would have a material impact on our Consolidated Financial Statements. Contingent Liabilities for Taxes As of September 30, 2019 and December 31, 2018 , Laureate has recorded cumulative liabilities totaling $50,644 and $52,880 , respectively, for taxes other-than-income tax, principally payroll-tax-related uncertainties recorded at the time of an acquisition, of which $3,259 and $4,999 , respectively, were classified as held for sale. The changes in this recorded liability are related to acquisitions, interest and penalty accruals, changes in tax laws, expirations of statutes of limitations, settlements and changes in foreign currency exchange rates. The terms of the statutes of limitations on these contingencies vary but can be up to 10 years . These liabilities were included in current and long-term liabilities on the Consolidated Balance Sheets. Changes in the recorded values of non-income tax contingencies impact operating income and interest expense, while changes in the related indemnification assets impact only operating income. The total (decrease) increase to operating income for adjustments to non-income tax contingencies and indemnification assets was $(5,196) and $843 , respectively, for the nine months ended September 30, 2019 and 2018 . In addition, as of September 30, 2019 and December 31, 2018 , Laureate has recorded cumulative liabilities for income tax contingencies of $53,907 and $64,157 , respectively, of which $7,569 and $14,582 , respectively, were classified as held for sale. As of September 30, 2019 and December 31, 2018 , indemnification assets primarily related to acquisition contingencies were $75,383 and $82,061 . These indemnification assets primarily cover contingencies for income taxes and taxes other-than-income taxes. We have also recorded receivables of approximately $18,700 and $19,000 as of September 30, 2019 and December 31, 2018 , respectively, from the former owner of one of our Brazil institutions which is guaranteed by future rental payments to the former owner. In addition, we have identified certain contingencies, primarily tax-related, that we have assessed as being reasonably possible of loss, but not probable of loss, and could have an adverse effect on the Company’s results of operations if the outcomes are unfavorable. In most cases, Laureate has received indemnifications from the former owners and/or noncontrolling interest holders of the acquired businesses for contingencies, and therefore, we do not believe we will sustain an economic loss even if we are required to pay these additional amounts. In cases where we are not indemnified, the unrecorded contingencies are not individually material and are primarily in Brazil. In the aggregate, we estimate that the reasonably possible loss for these unrecorded contingencies in Brazil could be up to approximately $46,000 if the outcomes were unfavorable in all cases. Other Loss Contingencies Laureate has accrued liabilities for certain civil actions against our institutions, a portion of which existed prior to our acquisition of these entities. Laureate intends to vigorously defend against these matters. As of September 30, 2019 and December 31, 2018 , approximately $32,130 and $29,000 , respectively, of loss contingencies were included in Other long-term liabilities and Other current liabilities on the Consolidated Balance Sheets. In addition, as of September 30, 2019 and December 31, 2018 , $194 and $18,000 , respectively, of loss contingencies for Discontinued Operations were classified as liabilities held for sale. The decrease is primarily related to the reversal of loss contingencies recorded in 2018 in connection with the sale of LEILY in China, as discussed in Note 5 , Dispositions . During the first quarter of 2019, loss contingencies were reversed following the settlement of a legal matter related to LEILY with no cost to the Company, resulting in additional gain on sale. Material Guarantees – Student Financing The accredited Chilean institutions in the Laureate network also participate in a government-sponsored student financing program known as Crédito con Aval del Estado (the CAE Program). The CAE Program was formally implemented by the Chilean government in 2006 to promote higher education in Chile for lower socio-economic level students in good academic standing. The CAE Program involves tuition financing and guarantees that are provided by our institutions and the government. As part of the CAE Program, these institutions provide guarantees which result in contingent liabilities to third-party financing institutions, beginning at 90% of the tuition loans made directly to qualified students enrolled through the CAE Program and declining to 60% over time. The guarantees by these institutions are in effect during the period in which the student is enrolled , and the guarantees are assumed entirely by the government upon the student’s graduation. When a student leaves one of Laureate's institutions and enrolls in another CAE-qualified institution, the Laureate institution will remain guarantor of the tuition loans that have been granted up to the date of transfer, and until the student's graduation from a CAE-qualified institution. The maximum potential amount of payments our institutions could be required to make under the CAE Program was approximately $484,000 and $499,000 at September 30, 2019 and December 31, 2018 , respectively. This maximum potential amount assumes that all students in the CAE Program do not graduate, so that our guarantee would not be assigned to the government, and that all students default on the full amount of the CAE-qualified loan balances. As of September 30, 2019 and December 31, 2018 , we recorded $34,138 and $28,254 , respectively, as estimated long-term guarantee liabilities for these obligations. Material Guarantees – Other In conjunction with the purchase of Universidade Potiguar in Brazil (UNP), Laureate pledged all of the acquired shares as a guarantee of our payments of rents as they become due. In the event that we default on any payment, the pledge agreement provides for a forfeiture of the relevant pledged shares. In the event of forfeiture, Laureate may be required to transfer the books and management of UNP to the former owners. Laureate acquired the remaining 49% ownership interest in UAM Brazil in April 2013. As part of the agreement to purchase the 49% ownership interest, Laureate pledged 49% of its total shares in UAM Brazil as a guarantee of our payment obligations under the purchase agreement. In the event that we default on any payment, the agreement provides for a forfeiture of the pledged shares. In connection with the purchase of FMU Education Group on September 12, 2014, Laureate pledged its acquired shares to third-party lenders as a guarantee of our payment obligations under the loans that financed a portion of the purchase price. The shares are pledged until full repayment of the loans, which mature in April 2021. In connection with a loan agreement entered into by a Laureate subsidiary in Peru, all of the shares of Universidad Privada del Norte, one of our universities, were pledged to the third-party lender as a guarantee of the payment obligations under the loan. Standby Letters of Credit, Surety Bonds and Other Commitments As of September 30, 2019 and December 31, 2018 , Laureate's outstanding letters of credit (LOCs) and surety bonds primarily consisted of the items discussed below. As of September 30, 2019 and December 31, 2018 , we had approximately $127,000 and $139,000 , respectively, posted as LOCs in favor of the DOE. These LOCs were required to allow Walden, NSAD and, in 2018, St. Augustine to continue participating in the DOE Title IV program. These LOCs are recorded on Walden and Laureate and are fully collateralized with cash equivalents and certificates of deposit, which are classified as Restricted cash on our September 30, 2019 and December 31, 2018 Consolidated Balance Sheets. As of September 30, 2019 and December 31, 2018 , we had EUR 5,036 (approximately US $5,500 at September 30, 2019 ) posted as cash collateral for LOCs related to the Spanish tax audits, which was recorded in Continuing Operations and classified as Restricted cash on our September 30, 2019 and December 31, 2018 Consolidated Balance Sheets. The cash collateral is related to the final assessment issued by the Spanish Taxing Authority (STA) in October 2018 for the 2011 to 2013 tax audit period. As part of our normal operations, our insurers issue surety bonds on our behalf, as required by various state education authorities in the United States. We are obligated to reimburse our insurers for any payments made by the insurers under the surety bonds. As of September 30, 2019 and December 31, 2018 , the total face amount of these surety bonds was $23,036 and $ 22,204 , respectively. These bonds are fully collateralized with cash, which was classified as Restricted cash on our September 30, 2019 and December 31, 2018 Consolidated Balance Sheets. In November 2016, in order to continue participating in Prouni, a federal program that offers tax benefits designed to increase higher education participation rates in Brazil, UAM Brazil posted a guarantee in the amount of $15,300 . In connection with the issuance of the guarantee, UAM Brazil obtained a non-collateralized surety bond from a third party in order to secure the guarantee. The cost of the surety bond was $1,400 , of which half was reimbursed by the former owner of UAM Brazil, and is being amortized over a five -year term. The Company believes that this matter will not have a material impact on our Consolidated Financial Statements.

Financing Receivables

Financing Receivables	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Financing Receivables	Financing Receivables Laureate’s financing receivables consist primarily of trade receivables related to student tuition financing programs with an initial term in excess of one year. We have offered long-term financing through the execution of note receivable agreements with students at some of our institutions. Our disclosures include financing receivables that are classified in our Consolidated Balance Sheets as both current and long-term, reported in accordance with ASC 310, “Receivables.” Laureate’s financing receivables balances were as follows: September 30, 2019 December 31, 2018 Financing receivables $ 33,126 $ 16,531 Allowance for doubtful accounts (6,064 ) (6,395 ) Financing receivables, net of allowances $ 27,062 $ 10,136 We do not purchase financing receivables in the ordinary course of our business. We may sell certain receivables that are significantly past due. No material amounts of financing receivables were sold during the periods reported herein. Delinquency is the primary indicator of credit quality for our financing receivables. Receivable balances are considered delinquent when contractual payments on the loan become past due. Delinquent financing receivables are placed on non-accrual status for interest income. The accrual of interest is resumed when the financing receivable becomes contractually current and when collection of all remaining amounts due is reasonably assured. We record an Allowance for doubtful accounts to reduce our financing receivables to their net realizable value. The Allowance for doubtful accounts is based on the age of the receivables, the status of past-due amounts, historical collection trends, current economic conditions, and student enrollment status. Each of our institutions evaluates its balances for potential impairment. We consider impaired loans to be those that are past due one year or greater, and those that are modified as a troubled debt restructuring (TDR). The aging of financing receivables grouped by country portfolio was as follows: Chile Other Total As of September 30, 2019 Amounts past due less than one year $ 9,798 $ 509 $ 10,307 Amounts past due one year or greater 3,038 140 3,178 Total past due (on non-accrual status) 12,836 649 13,485 Not past due 17,895 1,746 19,641 Total financing receivables $ 30,731 $ 2,395 $ 33,126 As of December 31, 2018 Amounts past due less than one year $ 7,618 $ 644 $ 8,262 Amounts past due one year or greater 2,879 192 3,071 Total past due (on non-accrual status) 10,497 836 11,333 Not past due 4,980 218 5,198 Total financing receivables $ 15,477 $ 1,054 $ 16,531 The following is a rollforward of the Allowance for doubtful accounts related to financing receivables for the nine months ended September 30, 2019 and 2018 , grouped by country portfolio: Chile Other Total Balance at December 31, 2018 $ (6,108 ) $ (287 ) $ (6,395 ) Charge-offs 1,438 501 1,939 Recoveries — — — Reclassifications — — — Provision (1,245 ) (646 ) (1,891 ) Currency adjustments 280 3 283 Balance at September 30, 2019 $ (5,635 ) $ (429 ) $ (6,064 ) Balance at December 31, 2017 $ (6,107 ) $ (365 ) $ (6,472 ) Charge-offs 1,338 37 1,375 Recoveries — — — Reclassifications — — — Provision (1,233 ) 18 (1,215 ) Currency adjustments 434 2 436 Balance at September 30, 2018 $ (5,568 ) $ (308 ) $ (5,876 ) Restructured Receivables A TDR is a financing receivable in which the borrower is experiencing financial difficulty and Laureate has granted an economic concession to the student debtor that we would not otherwise consider. When we modify financing receivables in a TDR, Laureate typically offers the student debtor an extension of the loan maturity and/or a reduction in the accrued interest balance. In certain situations, we may offer to restructure a financing receivable in a manner that ultimately results in the forgiveness of contractually specified principal balances. Our only TDRs are in Chile. The number of financing receivable accounts and the pre- and post-modification account balances modified under the terms of a TDR during the nine months ended September 30, 2019 and 2018 were as follows: Number of Financing Receivable Accounts Pre-Modification Balance Outstanding Post-Modification Balance Outstanding 2019 358 $ 1,153 $ 1,020 2018 435 $ 1,345 $ 1,262 The preceding table represents accounts modified under the terms of a TDR during the nine months ended September 30, 2019 , whereas the following table represents accounts modified as a TDR between January 1, 2018 and September 30, 2019 that subsequently defaulted during the nine months ended September 30, 2019 : Number of Financing Receivable Accounts Balance at Default Total 183 $ 415 The following table represents accounts modified as a TDR between January 1, 2017 and September 30, 2018 that subsequently defaulted during the nine months ended September 30, 2018 : Number of Financing Receivable Accounts Balance at Default Total 128 $ 455

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-based Compensation	Share-based Compensation Share-based compensation expense was as follows: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Continuing operations Stock options, net of estimated forfeitures $ 708 $ 1,932 $ 2,871 $ (3,333 ) Restricted stock awards 751 4,456 6,323 12,905 Total continuing operations $ 1,459 $ 6,388 $ 9,194 $ 9,572 Discontinued operations Share-based compensation expense for discontinued operations 119 173 387 920 Total continuing and discontinued operations $ 1,578 $ 6,561 $ 9,581 $ 10,492 The negative stock options expense for the nine months ended September 30, 2018 relates to the correction of an immaterial error.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity The components of net changes in stockholders' equity for the fiscal quarters of 2019 are as follows: Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Treasury stock at cost Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at December 31, 2018 107,450 $ 430 116,865 $ 467 $ 3,703,796 $ (530,919 ) $ (1,112,695 ) $ — $ (10,133 ) $ 2,050,946 Adoption of accounting standards — — — — — 28,944 — — — 28,944 Balance at January 1, 2019 107,450 430 116,865 467 3,703,796 (501,975 ) (1,112,695 ) — (10,133 ) 2,079,890 Non-cash stock compensation — — — — 3,149 — — — — 3,149 Conversion of Class B shares to Class A shares 8 — (8 ) — — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 325 1 — — (1,421 ) — — — — (1,420 ) Distributions to noncontrolling interest holders — — — — — — — — (625 ) (625 ) Accretion of redeemable noncontrolling interests and equity — — — — 263 — — — — 263 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 224 224 Net income — — — — — 191,243 — — 3,022 194,265 Foreign currency translation adjustment, net of tax of $0 — — — — — — 49,521 — 30 49,551 Unrealized gain on derivatives, net of tax of $0 — — — — — — 2,609 — — 2,609 Balance at March 31, 2019 107,783 $ 431 116,857 $ 467 $ 3,705,787 $ (310,732 ) $ (1,060,565 ) $ — $ (7,482 ) $ 2,327,906 Non-cash stock compensation — — — — 4,854 — — — — 4,854 Conversion of Class B shares to Class A shares 10,991 44 (10,991 ) (44 ) — — — — — — Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 32 — — — 170 — — — — 170 Distributions to noncontrolling interest holders — — — — — — — — (731 ) (731 ) Change in noncontrolling interests — — — — (3,700 ) — — — — (3,700 ) Accretion of redeemable noncontrolling interests and equity — — — — 194 — — — — 194 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — (855 ) (855 ) Net income — — — — — 781,592 — — (1,976 ) 779,616 Foreign currency translation adjustment, net of tax of $0 — — — — — — 10,275 — (87 ) 10,188 Unrealized loss on derivatives, net of tax of $0 — — — — — — (10,559 ) — — (10,559 ) Balance at June 30, 2019 118,806 $ 475 105,866 $ 423 $ 3,707,305 $ 470,860 $ (1,060,849 ) $ — $ (11,131 ) $ 3,107,083 Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Treasury stock at cost Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at June 30, 2019 118,806 $ 475 105,866 $ 423 $ 3,707,305 $ 470,860 $ (1,060,849 ) $ — $ (11,131 ) $ 3,107,083 Non-cash stock compensation — — — — 1,578 — — — — 1,578 Conversion of Class B shares to Class A shares 15,002 60 (15,002 ) (60 ) — — — — — — Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 96 — — — 1,455 — — — — 1,455 Purchases of treasury stock at cost (6,150 ) — — — — — — (104,849 ) — (104,849 ) Accretion of redeemable noncontrolling interests and equity — — — — (193 ) — — — — (193 ) Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 649 649 Net loss — — — — — (95,226 ) — — (1,568 ) (96,794 ) Foreign currency translation adjustment, net of tax of $0 — — — — — — (82,070 ) — (510 ) (82,580 ) Minimum pension liability adjustment, net of tax of $0 — — — — — — 4,531 — — 4,531 Balance at September 30, 2019 127,754 $ 535 90,864 $ 363 $ 3,710,145 $ 375,634 $ (1,138,388 ) $ (104,849 ) $ (12,560 ) $ 2,830,880 As described in Note 2 , Significant Accounting Policies , the change in beginning retained earnings resulting from the adoption of accounting standards represents the cumulative impact of adopting ASU 2016-02. Stock Repurchase Program As previously disclosed, on August 8, 2019 , the Company announced that its board of directors had authorized a stock repurchase program to acquire up to $150,000 of the Company’s Class A common stock. The Company’s repurchases were made in a block trade and 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). During the quarter ended September 30, 2019 , the Company repurchased 6,150 shares of its outstanding Class A common stock for a total purchase price of $104,849 , of which 5,130 shares totaling $87,921 had settled by close of business on September 30, 2019 . The remaining shares settled during the first several days of October 2019 and their purchase price of $16,928 is recorded as a liability as of September 30, 2019 . In early October 2019, the Company's stock repurchases reached the authorized limit of $150,000 . As discussed in Note 21 , Subsequent Events , on October 14, 2019 , the Company's board of directors approved the increase of its existing authorization to repurchase shares of the Company's Class A common stock by $150,000 for a total authorization (including the previously authorized repurchases) of up to $300,000 of the Company's Class A common stock. The components of net changes in stockholders' equity for the fiscal quarters of 2018 are as follows: Laureate Education, Inc. Stockholders Class A Common Stock Class B Common Stock Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at December 31, 2017 55,052 $ 220 132,443 $ 530 $ 3,446,206 $ (946,236 ) $ (925,556 ) $ 12,118 $ 1,587,282 Adoption of accounting standards — — — — — 5,074 — — 5,074 Balance at January 1, 2018 55,052 220 132,443 530 3,446,206 (941,162 ) (925,556 ) 12,118 1,592,356 Non-cash stock compensation — — — — (3,756 ) — — — (3,756 ) Conversion of Class B shares to Class A shares 59 — (59 ) — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 145 1 59 — (804 ) — — — (803 ) Distributions from noncontrolling interest holders — — — — — — — 581 581 Change in noncontrolling interests — — — — (468 ) — — (20,575 ) (21,043 ) Accretion of redeemable noncontrolling interests and equity — — — — (76 ) — — — (76 ) Accretion of Series A Convertible Redeemable Preferred Stock — — — — (57,324 ) — — — (57,324 ) Reclassification of redeemable noncontrolling interests and equity — — — — — — — 38 38 Net income — — — — — 168,879 — 2,666 171,545 Foreign currency translation adjustment, net of tax of $0 — — — — — — 83,648 (279 ) 83,369 Unrealized gain on derivatives, net of tax of $0 — — — — — — 2,210 — 2,210 Minimum pension liability adjustment, net of tax of $0 — — — — — — 376 — 376 Balance at March 31, 2018 55,256 $ 221 132,443 $ 530 $ 3,383,778 $ (772,283 ) $ (839,322 ) $ (5,451 ) $ 1,767,473 Non-cash stock compensation — — — — 7,687 — — — 7,687 Conversion of Class B shares to Class A shares 27 — (27 ) — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 188 1 — — (942 ) — — — (941 ) Distributions to noncontrolling interest holders — — — — — — — (1,473 ) (1,473 ) Change in noncontrolling interests — — — — — — — (2,730 ) (2,730 ) Accretion of redeemable noncontrolling interests and equity — — — — 882 — — — 882 Accretion of Series A Preferred Stock — — — — (4,650 ) — — — (4,650 ) Gain upon conversion of Series A Preferred Stock — — — — 74,110 — — — 74,110 Reclassification of Series A Preferred Stock upon conversion 36,143 144 — — 237,957 — — — 238,101 Other — — — — — (744 ) — — (744 ) Reclassification of redeemable noncontrolling interests and equity — — — — — — — (19 ) (19 ) Net income — — — — — 224,412 — (456 ) 223,956 Foreign currency translation adjustment, net of tax of $0 — — — — — — (197,143 ) 471 (196,672 ) Unrealized gain on derivatives, net of tax of $0 — — — — — — 10,126 — 10,126 Balance at June 30, 2018 91,614 $ 366 132,416 $ 530 $ 3,698,822 $ (548,615 ) $ (1,026,339 ) $ (9,658 ) $ 2,115,106 Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at June 30, 2018 91,614 $ 366 132,416 $ 530 $ 3,698,822 $ (548,615 ) $ (1,026,339 ) $ (9,658 ) $ 2,115,106 Non-cash stock compensation — — — — 6,561 — — — 6,561 Conversion of Class B shares to Class A shares 29 — (29 ) — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 11 — — — — — — — — Accretion of redeemable noncontrolling interests and equity — — — — 324 — — — 324 Reclassification of redeemable noncontrolling interests and equity — — — — — — — (328 ) (328 ) Net loss — — — — — (94,789 ) — (1,895 ) (96,684 ) Foreign currency translation adjustment, net of tax of $0 — — — — — — (52,961 ) 211 (52,750 ) Unrealized loss on derivatives, net of tax of $0 — — — — — — (560 ) — (560 ) Balance at September 30, 2018 91,654 $ 366 132,387 $ 530 $ 3,705,707 $ (643,404 ) $ (1,079,860 ) $ (11,670 ) $ 1,971,669 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 gains on derivatives designated as cash flow hedges, and the accumulated net gains or losses that are not recognized as components of net periodic benefit cost for our minimum pension liability. The change in AOCI includes the removal of the cumulative translation adjustment related to subsidiaries that were sold during the period. The components of these balances were as follows: September 30, 2019 December 31, 2018 Laureate Education, Inc. Noncontrolling Interests Total Laureate Education, Inc. Noncontrolling Interests Total Foreign currency translation adjustment $ (1,149,993 ) $ (108 ) $ (1,150,101 ) $ (1,127,719 ) $ 459 $ (1,127,260 ) Unrealized gain on derivatives 10,416 — 10,416 18,366 — 18,366 Minimum pension liability adjustment 1,189 — 1,189 (3,342 ) — (3,342 ) Accumulated other comprehensive loss $ (1,138,388 ) $ (108 ) $ (1,138,496 ) $ (1,112,695 ) $ 459 $ (1,112,236 ) Secondary Offerings In June 2019, Wengen Alberta, Limited Partnership (Wengen), our controlling stockholder, converted owned shares of the Company's Class B common stock into an equal number of shares of the Company's Class A common stock and sold a total of 10,955 shares of Class A common stock in a secondary offering at a price of $15.3032 per share. Wengen received all of the net proceeds from this offering and no shares of Class A common stock were sold by the Company. In September 2019, Wengen converted owned shares of the Company's Class B common stock into an equal number of shares of the Company's Class A common stock and sold a total of 15,000 shares of Class A common stock in a secondary offering at a price of $16.85 per share, prior to underwriting discounts and commissions. Wengen received all of the net proceeds from this offering and no

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments In the normal course of business, our operations are exposed to fluctuations in foreign currency values and interest rate changes. We may seek to control a portion of these risks through a risk management program that includes the use of derivative instruments. The interest and principal payments for Laureate’s senior long-term debt arrangements are to be paid primarily in USD. Our ability to make debt payments is subject to fluctuations in the value of the USD against foreign currencies, since a majority of our operating cash used to make these payments is generated by subsidiaries with functional currencies other than USD. As part of our overall risk management policies, Laureate has at times entered into foreign currency swap contracts and floating-to-fixed interest rate swap contracts. In addition, we occasionally enter into foreign exchange forward contracts to reduce the impact of other non-functional currency-denominated receivables and payables. We do not enter into speculative or leveraged transactions, nor do we hold or issue derivatives for trading purposes. Laureate reports all derivatives at fair value. These contracts are recognized as either assets or liabilities, depending upon the derivative’s fair value. Gains or losses associated with the change in the fair value of these swaps are recognized in our Consolidated Statements of Operations on a current basis over the term of the contracts, unless designated and effective as a hedge. For swaps that are designated and effective as cash flow hedges, gains or losses associated with the change in fair value of the swaps are recognized in our Consolidated Balance Sheets as a component of AOCI and amortized into earnings as a component of Interest expense over the term of the related hedged items. Upon early termination of an effective interest rate swap designated as a cash flow hedge, unrealized gains or losses are deferred in our Consolidated Balance Sheets as a component of AOCI and are amortized as an adjustment to Interest expense over the period during which the hedged forecasted transaction affects earnings. For derivatives that are both designated and effective as net investment hedges, gains or losses associated with the change in fair value of the derivatives are recognized on our Consolidated Balance Sheets as a component of AOCI. The reported fair values of our derivatives, which are classified in Prepaid expenses and other current assets and Derivative instruments on our Consolidated Balance Sheets, were as follows: September 30, 2019 December 31, 2018 Derivatives designated as hedging instruments: Long-term assets: Net investment cross currency swaps $ — $ 3,259 Derivatives not designated as hedging instruments: Current assets: Cross currency swaps 295 — Current liabilities: Cross currency swaps 11 4,021 Long-term liabilities: Cross currency and interest rate swaps — 6,656 Total derivative instrument assets $ 295 $ 3,259 Total derivative instrument liabilities $ 11 $ 10,677 Derivatives Designated as Hedging Instruments Cash Flow Hedge - 2024 Term Loan Interest Rate Swaps In May 2017, Laureate entered into, and designated as cash flow hedges, four pay-fixed, receive-floating amortizing interest rate swaps with notional amounts of $100,000 , $100,000 , $200,000 and $300,000 , respectively. These notional amounts matched the corresponding principal of the 2024 Term Loan borrowings of which these swaps were effectively hedging the interest payments. As such, the notional values amortized annually based on the terms of the agreements to match the principal borrowings as they were repaid. These swaps effectively fixed the floating interest rate on the term loan to reduce exposure to variability in cash flows attributable to changes in the USD-LIBOR-BBA swap rate. All four swaps were fully settled on August 21, 2018, prior to their May 31, 2022 maturity date, with the remaining AOCI to be ratably reclassified into income through Interest expense over the remaining maturity period of the 2024 Term Loans. The cash received at settlement from the swap counterparties was $14,117 . During the second quarter of 2019, the Company accelerated the reclassification of amounts in AOCI to earnings as a result of the hedged forecasted transactions becoming probable not to occur, due to the full repayment of the 2024 Term Loan in June 2019 using proceeds from the sale of our institutions in Portugal and Spain. The accelerated amounts were a gain of approximately $9,800 and were recorded as a decrease to Interest expense. Prior to settlement of the swaps, they were determined to be 100% effective; therefore, the amount of gain or loss recognized in income on the ineffective portion was $0 . Net Investment Hedge - Cross Currency Swaps In December 2017, Laureate entered into two EUR-USD cross currency swaps (net investment hedges) to hedge the foreign currency exchange volatility on operations of our Euro functional currency subsidiaries and better match our cash flows with the currencies in which our debt obligations are denominated. Both swaps had an effective date of December 22, 2017 and a maturity date of November 2, 2020, and were designated at inception as effective net investment hedges. In April 2019, the Company terminated both EUR-USD cross currency swaps for a net settlement received of $7,679 , which is included in Settlement of derivatives related to sale of discontinued operations and net investment hedge on our consolidated statement of cash flows. The terms of the swaps specified that at maturity on the first swap, Laureate would deliver the notional amount of EUR 50,000 and receive USD $59,210 at an implied exchange rate of 1.1842 and at maturity on the second swap, Laureate would deliver the notional amount of EUR 50,000 and receive USD $59,360 at an implied exchange rate of 1.1872 . Semiannually until maturity, Laureate was obligated to pay 5.63% and receive 8.25% on EUR 50,000 and USD $59,210 , respectively, on the first swap and pay 5.6675% and receive 8.25% on EUR 50,000 and USD $59,360 , respectively, on the second swap. The swaps were determined to be 100% effective; therefore, the amount of gain or loss recognized in income on the ineffective portion of derivative instruments designated as hedging instruments was $0 . The accumulated gain recognized in AOCI will be deferred from earnings until the sale or liquidation of the hedged investee. As of December 31, 2018 , these swaps had an estimated fair value of $3,259 , which was recorded in Derivative Instruments as a long-term asset. The table below shows the total recorded unrealized (loss) gain in Comprehensive income for the derivatives designated as hedging instruments. The impact of these derivative instruments on Comprehensive income, Interest expense and AOCI were as follows: For the three months ended September 30: (Loss) Gain Recognized in Comprehensive Income (Effective Portion) Income Statement Location Gain Reclassified Total Consolidated Interest Expense 2019 2018 2019 2018 2019 2018 Cash flow hedge Interest rate swaps $ — $ (1,938 ) Interest expense $ — $ 950 Net investment hedge Cross currency swaps — 1,378 N/A — — Total $ — $ (560 ) $ — $ 950 $ (40,319 ) $ (58,319 ) For the nine months ended September 30: (Loss) Gain Recognized in Comprehensive Income Income Statement Location Gain Reclassified Total Consolidated Interest Expense 2019 2018 2019 2018 2019 2018 Cash flow hedge Interest rate swaps $ (11,818 ) $ 7,307 Interest expense $ 11,818 $ 912 Net investment hedge Cross currency swaps 3,868 4,469 N/A — — Total $ (7,950 ) $ 11,776 $ 11,818 $ 912 $ (136,438 ) $ (181,746 ) Derivatives Not Designated as Hedging Instruments MXN to USD Foreign Currency Swaps In September 2019, Laureate entered into three MXN to USD swap agreements with a combined notional amount of MXN 453,146 . During the fourth quarter of 2019, Laureate will deliver the notional amount and receive USD $23,000 at a rate of exchange of 0.0508 . As of September 30, 2019 , these swaps had an estimated value of $295 which was recorded in Prepaid expenses and other current assets . These swaps were not designated as hedges for accounting purposes. AUD to USD Foreign Currency Swaps In September 2019, Laureate entered into two AUD to USD swap agreements with a combined notional amount of AUD 11,000 . During the fourth quarter ended 2019, Laureate will receive the notional amount and deliver USD $7,443 at a rate of exchange of 0.6766 USD per 1 AUD. As of September 30, 2019 , these swaps had an estimated value of $11 which was recorded in Derivative instruments as a current liability. These swaps were not designated as hedges for accounting purposes. EUR to USD Foreign Currency Swaps - Spain and Portugal As disclosed in the 2018 Form 10-K, in December 2018, Laureate entered into two EUR to USD swap agreements in connection with the signing of the sale agreement for the subsidiaries in Spain and Portugal. The purpose of the swaps was to mitigate the risk of foreign currency exposure on the sale proceeds. The first swap was deal contingent, with the settlement date occurring on the second business day following the completion of the sale. On the settlement date, Laureate delivered the notional amount of EUR 275,000 and received USD $314,573 at a rate of exchange of 1.1439 , which resulted in a realized gain of $5,088 . The second swap was a put/call option with a maturity date of April 8, 2019, where Laureate could put the notional amount of EUR 275,000 and call the USD amount of $310,750 at an exchange rate of 1.13 . Based on expected timing of the sale transaction, the swap was terminated on April 2, 2019, resulting in a payment to the counterparty of $980 that included a deferred premium payment net of proceeds received. The realized gain of $5,088 and the payment of $980 are included in Settlement of derivatives related to sale of discontinued operations and net investment hedge in the consolidated statement of cash flows. As of December 31, 2018 , these swaps had an aggregate estimated fair value of $4,021 , which was recorded in Derivative instruments as a current liability through a charge to unrealized loss on derivatives. These swaps were not designated as hedges for accounting purposes. In addition to the swaps above, in order to continue to mitigate the risk of foreign currency exposure on the expected sale proceeds for Spain and Portugal in advance of the May 31, 2019 sale closing date, in April 2019, Laureate also entered into seven EUR to USD swap agreements with a combined notional amount of EUR 375,000 . On the maturity date of May 15, 2019, Laureate paid the EUR notional amount and received a combined total of USD $423,003 at a rate of exchange of 1.128007 , resulting in a gain of $1,644 . In May 2019, Laureate entered into nine EUR to USD swap agreements with a combined notional amount of EUR 532,000 . On the maturity date of June 4, 2019, Laureate paid the EUR notional amount and received a combined total of $597,149 at a rate of exchange of 1.122461 , resulting in a realized loss of approximately $565 . The realized gain of $1,644 and the realized loss of $565 are included in Settlement of derivatives related to sale of discontinued operations and net investment hedge on the consolidated statement of cash flows. These swaps were not designated as hedges for accounting purposes. CLP to Unidad de Fomento (UF) Cross Currency and Interest Rate Swaps The cross currency and interest rate swap agreements are intended to provide a better correlation between our debt obligations and operating currencies. In 2010, one of our subsidiaries in Chile entered into four cross currency and interest rate swap agreements with an aggregate notional amount of approximately $31,000 , and convert CLP-denominated, floating-rate debt to fixed-rate UF-denominated debt. The UF is a Chilean inflation-adjusted unit of account. One of the swaps was scheduled to mature on December 1, 2024, and the remaining three were scheduled to mature on July 1, 2025 (the CLP to UF cross currency and interest rate swaps); however, during the first quarter 2019, the Company elected to settle all four swaps for a net cash payment of approximately USD $8,200 . In addition, Chile also elected to repay a portion of the principal balance outstanding for certain notes payable, as discussed in Note 9 , Debt . This payment is included in (Payments for) proceeds from settlement of derivative contracts on the consolidated statement of cash flows. The CLP to UF cross currency and interest rate swaps were not designated as hedges for accounting purposes. As of December 31, 2018 , these swaps had an estimated fair value of $6,656 which was recorded in Derivative instruments as a long-term liability. EUR to USD Foreign Currency Swaps - Cyprus and Italy As disclosed in the 2018 Form 10-K, in December 2017 , the Company entered into a total of six EUR to USD forward exchange swap agreements in connection with the sale of its institutions in Cyprus and Italy. The purpose of the swaps was to mitigate the risk of foreign currency exposure on the sale proceeds. The swaps had an aggregate notional amount of EUR 200,000 and matured on January 16, 2018, resulting in a total realized loss on derivatives of $9,960 , which was included in Settlement of derivatives related to sale of discontinued operations and net investment hedge on the consolidated statement of cash flows for the nine months ended September 30, 2018 . The swaps were not designated as hedges for accounting purposes. Derivatives related to Series A Preferred Stock Offering As disclosed in the 2018 Form 10-K, in December 2016 and January 2017 , the Company issued shares of convertible redeemable preferred stock (the Series A Preferred Stock) and identified several embedded derivatives related to certain contingent redemption features of the Series A Preferred Stock. These derivatives were not designated as hedges for accounting purposes and therefore the changes in estimated fair value were recognized as a component of earnings. The Series A Preferred Stock was converted into Class A common stock on April 23, 2018. The estimated fair value of these derivatives at the conversion date was approximately $140,300 ; accordingly, the derivative assets were recorded at their estimated fair values through a corresponding gain on derivatives, a component of non-operating income. The increase in the fair value of the derivatives can be attributed to the use of the Monte Carlo Simulation Method to value the derivatives prior to the April 23, 2018 conversion date, when the probability of conversion increased to 100% and the valuation inputs became definitive. In connection with the conversion of the Series A Preferred Stock into Class A common stock, the carrying value of the derivative assets was reclassified into equity in April 2018. Components of the reported Gain on derivatives not designated as hedging instruments in the Consolidated Statements of Operations were as follows: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Unrealized Gain (Loss) Contingent redemption features - Series A Preferred Stock $ — $ — $ — $ (42,140 ) Cross currency and interest rate swaps 284 33 4,305 4,391 Interest rate swaps — 36 — 138 284 69 4,305 (37,611 ) Realized (Loss) Gain Contingent redemption features - Series A Preferred Stock — — — 140,320 Cross currency and interest rate swaps — (213 ) 3,794 (10,597 ) — (213 ) 3,794 129,723 Total Gain (Loss) Contingent redemption features - Series A Preferred Stock — — — 98,180 Cross currency and interest rate swaps 284 (180 ) 8,099 (6,206 ) Interest rate swaps — 36 — 138 Gain (loss) on derivatives, net $ 284 $ (144 ) $ 8,099 $ 92,112 Credit Risk and Credit-Risk-Related Contingent Features Laureate’s derivatives expose us to credit risk to the extent that the counterparty may possibly fail to perform its contractual obligation. The amount of our credit risk exposure is equal to the fair value of the derivative when any of the derivatives are in a net gain position. As of September 30, 2019 and December 31, 2018 , the estimated fair values of derivatives in a gain position were $295 and $3,259 , respectively. Laureate has limited its credit risk by only entering into derivative transactions with highly rated major financial institutions. We have not entered into collateral agreements with our derivatives' counterparties. At September 30, 2019 , one institution was rated A1 and one institution as rated A2 by the global rating agency of Moody's Investors Service. These financial institutions accounted for all of Laureate's derivative credit risk exposure. Laureate's agreements with its derivative counterparties contain a provision under which we could be declared in default on our derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to a default on the indebtedness. As of September 30, 2019 and December 31, 2018 , we had not breached any default provisions and had not posted any collateral related to these agreements. If we had breached any of these provisions, we could have been required to settle the obligations under the derivative agreements for an amount that we believe would approximate their estimated fair value of $11 as of September 30, 2019 and $10,677 as of December 31, 2018 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Laureate uses the liability method to account for income taxes. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. For interim purposes, we also apply ASC 740-270, ‘‘Income Taxes - Interim Reporting.’’ Laureate's income tax provisions for all periods consist of federal, state and foreign income taxes. The tax provisions for the nine months ended September 30, 2019 and 2018 were based on estimated full-year effective tax rates, after giving effect to significant items related specifically to the interim periods, including the mix of income for the period between higher-taxed and lower-taxed jurisdictions. Laureate has operations in multiple countries at various statutory tax rates or which are tax-exempt entities, and other operations that are loss-making entities for which it is not more likely than not that a tax benefit will be realized on the loss. Laureate records interest and penalties related to uncertain tax positions as a component of Income tax expense. During the nine months ended September 30, 2019 , Laureate recognized interest and penalties related to income taxes of $3,571 . Laureate had $29,420 of accrued interest and penalties as of September 30, 2019 . During the nine months ended September 30, 2019 , Laureate derecognized $8,482 of previously accrued interest and penalties. Approximately $24,882 of unrecognized tax benefits, if recognized, will affect the effective income tax rate. It is reasonably possible that Laureate’s unrecognized tax benefits may decrease within the next 12 months by up to approximately $13,449 as a result of the lapse of statutes of limitations and as a result of the final settlement and resolution of outstanding tax matters in various jurisdictions.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share We have two classes of common stock, Class A common stock and Class B common stock. Other than voting rights, the Class B common stock has the same rights as the Class A common stock and therefore both are treated as the same class of stock for purposes of the earnings per share calculation. Laureate computes basic earnings per share (EPS) by dividing income available to common shareholders by the weighted average number of common shares outstanding for the reporting period. Diluted EPS reflects the potential dilution that would occur if share-based compensation awards, contingently issuable shares, or convertible securities were exercised or converted into common stock. To calculate the diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options, restricted stock, restricted stock units, and contingently issuable shares determined using the treasury stock method, and convertible securities using the if-converted method. The following tables summarize the computations of basic and diluted earnings (loss) per share: For the three months ended September 30, 2019 2018 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (28,526 ) $ (40,353 ) Net (income) loss attributable to noncontrolling interests (12 ) 12 Loss from continuing operations attributable to Laureate Education, Inc. (28,538 ) (40,341 ) Accretion of redemption value of redeemable noncontrolling interests and equity (193 ) 324 Net loss from continuing operations available to common stockholders for basic and diluted earnings (loss) per share (28,731 ) (40,017 ) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Loss from discontinued operations, net of tax $ (27,137 ) $ (37,905 ) Loss on sales of discontinued operations, net of tax (41,131 ) (18,426 ) Loss attributable to noncontrolling interests 1,580 1,883 Net loss from discontinued operations for basic and diluted earnings (loss) per share $ (66,688 ) $ (54,448 ) Denominator used in basic and diluted earnings (loss) per common share: Basic and diluted weighted average shares outstanding 224,193 224,037 Basic and diluted loss per share: Loss from continuing operations $ (0.13 ) $ (0.18 ) Loss from discontinued operations (0.30 ) (0.24 ) Basic and diluted loss per share $ (0.43 ) $ (0.42 ) For the nine months ended September 30, 2019 2018 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (37,775 ) $ (36,641 ) Net income attributable to noncontrolling interests (61 ) (78 ) Loss from continuing operations attributable to Laureate Education, Inc. (37,836 ) (36,719 ) Accretion of redemption value of redeemable noncontrolling interests and equity 264 1,130 Adjusted for: accretion related to noncontrolling interests and equity redeemable at fair value — (559 ) Accretion of Series A Preferred Stock — (61,974 ) Gain upon conversion of Series A Preferred Stock — 74,110 Subtotal: accretion of other redeemable noncontrolling interests and equity and Series A Preferred Stock, net 264 12,707 Net loss available to common stockholders for basic earnings (loss) per share $ (37,572 ) $ (24,012 ) Adjusted for: accretion of Series A Preferred Stock — 61,974 Adjusted for: gain upon conversion of Series A Preferred Stock — (74,110 ) Net loss from continuing operations available to common stockholders for diluted earnings (loss) per share $ (37,572 ) $ (36,148 ) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Income from discontinued operations, net of tax $ 66,472 $ 23,551 Gain on sales of discontinued operations, net of tax 848,390 311,904 Loss (income) attributable to noncontrolling interests 583 (237 ) Net income from discontinued operations for basic and diluted earnings (loss) per share $ 915,445 $ 335,218 Denominator used in basic and diluted earnings (loss) per common share: Basic and diluted weighted average shares outstanding 224,498 209,129 Basic earnings (loss) per share: Loss from continuing operations $ (0.17 ) $ (0.11 ) Income from discontinued operations 4.08 1.60 Basic earnings per share $ 3.91 $ 1.49 Diluted earnings (loss) per share: Loss from continuing operations $ (0.17 ) $ (0.17 ) Income from discontinued operations 4.08 1.60 Diluted earnings per share $ 3.91 $ 1.43 The following table summarizes the number of stock options, shares of restricted stock and restricted stock units (RSUs) that were excluded from the diluted EPS calculations because the effect would have been antidilutive: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Stock options 8,650 9,328 8,956 9,628 Restricted stock and RSUs 733 931 854 1,034

Legal and Regulatory Matters

Legal and Regulatory Matters	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Legal and Regulatory Matters	Legal and Regulatory Matters

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to settle a liability in an orderly transaction between market participants at the measurement date. Accounting standards utilize a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels, which are described below: • Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 – Observable inputs other than quoted prices that are either directly or indirectly observable for the asset or liability; • Level 3 – Unobservable inputs that are supported by little or no market activity. These levels are not necessarily an indication of the risk of liquidity associated with the financial assets or liabilities disclosed. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement, as required under ASC 820-10, ‘‘Fair Value Measurement.’’ Derivative instruments Laureate uses derivative instruments as economic hedges for bank debt, foreign exchange fluctuations and interest rate risk. Their values are derived using valuation models commonly used for derivatives. These valuation models require a variety of inputs, including contractual terms, market prices, forward-price yield curves, notional quantities, measures of volatility and correlations of such inputs. Our valuation models also reflect measurements for credit risk. Laureate concluded that the fair values of our derivatives are based on unobservable inputs, or Level 3 assumptions. The significant unobservable input used in the fair value measurement of the Company's derivative instruments is our own credit risk. Holding other inputs constant, a significant increase (decrease) in our own credit risk would result in a significantly lower (higher) fair value measurement for the Company's derivative instruments. Equity securities - preferred stock investment In 2013, Laureate purchased approximately 1,020 shares (the Shares) of preferred stock of a private education company for $5,000 . This equity security did not have a readily determinable fair value. In June 2019, based on interest expressed by an investor to purchase the Shares, Laureate recorded this investment at its estimated fair value and recorded a non-operating gain of approximately $6,100 . In September 2019, Laureate sold the Shares and received cash proceeds of $11,473 , resulting in a total non-operating gain of $6,473 for the nine months ended September 30, 2019 . The proceeds are included in Proceeds from sale of investment in the consolidated statement of cash flows. Laureate’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2019 were as follows: Total Level 1 Level 2 Level 3 Assets Derivative instruments $ 295 $ — $ — $ 295 Liabilities Derivative instruments $ 11 $ — $ — $ 11 Laureate’s financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2018 were as follows: Total Level 1 Level 2 Level 3 Assets Derivative instruments $ 3,259 $ — $ — $ 3,259 Liabilities Derivative instruments $ 10,677 $ — $ — $ 10,677 The changes in our Level 3 Derivative instruments measured at fair value on a recurring basis for the nine months ended September 30, 2019 were as follows: Balance at December 31, 2018 $ (7,418 ) Gain included in earnings: Unrealized gains, net 4,305 Realized gains, net 3,794 Included in other comprehensive income (7,950 ) Settlements (4,634 ) Reclassification, currency translation adjustment and other 12,187 Balance at September 30, 2019 $ 284 The following table presents quantitative information regarding the significant unobservable inputs and valuation techniques utilized in the fair value measurements of the Company's assets/(liabilities) classified as Level 3 as of September 30, 2019 : Fair Value at September 30, 2019 Valuation Technique Unobservable Input Range/Input Value Derivative instruments - cross currency swaps $ 284 Discounted Cash Flow Credit Risk 3.50%

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Reconciliation of Cash and cash equivalents and Restricted cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets, as well as the September 30, 2018 balance. The September 30, 2019 and September 30, 2018 balances sum to the amounts shown in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018 : September 30, 2019 September 30, 2018 December 31, 2018 Cash and cash equivalents $ 323,930 $ 384,980 $ 387,780 Restricted cash 183,819 191,281 195,792 Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows $ 507,749 $ 576,261 $ 583,572 Restricted cash includes cash equivalents held to collateralize standby letters of credit in favor of the DOE. In addition, Laureate may at times hold a United States deposit for a letter of credit in lieu of a surety bond, or otherwise have cash that is not immediately available for use in current operations. See also Note 11 , Commitments and Contingencies .

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Sale of Universidad Interamericana de Panamá (UIP) In early October 2019 , the Company closed on the previously announced sale of UIP, in addition to real estate which serves as the campus of UIP, to Universal Knowledge Systems, Inc. and Global Education Services, Inc. (the UIP Buyers). Pursuant to the sale and purchase agreement (the UIP Agreement), the UIP Buyers purchased from the Universidad U Latina, SRL and Education Holding Costa Rica EHCR, SRL (the UIP Sellers) 100% of the ownership interests of UIP, a higher education institution in Panama. Excelencia y Superacion S.A. (EXSUSA), an affiliate of the UIP Buyers, was also party to the UIP Agreement as a guarantor of the UIP Sellers’ obligations under the UIP Agreement. In addition, Desarrollos Urbanos Educativos S. de R.L. (DUE), an indirect wholly owned subsidiary of the Company, entered into and closed a real estate purchase agreement (the DUE Real Estate Purchase Agreement) with EXSUSA, pursuant to which EXSUSA or its designees purchased the campus real estate. The total enterprise value under the UIP Agreement and the DUE Real Estate Purchase Agreement was approximately $86,750 , and the net proceeds received were approximately $80,000 . Amendment of Senior Secured Credit Facility On October 7, 2019 , the Company entered into a Third Amended and Restated Credit Agreement (the Third A&R Credit Agreement). Among other things, the Third A&R Credit Agreement increases the borrowing capacity of our revolving credit facility from $385,000 to $410,000 and extends the maturity date from April 26, 2022 to October 7, 2024. Under the Third A&R Credit Agreement, the revolving credit facility bears interest at a per annum interest rate, at the option of the Company, at either the LIBO rate or the ABR rate, as defined in the agreement, plus an applicable margin of 2.50% per annum, 2.25% per annum, 2.00% per annum or 1.75% per annum for LIBOR loans, and 1.50% per annum, 1.25% per annum, 1.00% per annum or 0.75% per annum for ABR loans, in each case, based on the Company’s consolidated total debt to consolidated EBITDA ratio, as defined in the agreement. The financial covenant described in Note 9 , Debt , remains unchanged under the Third A&R Credit Agreement. Specifically, the Third A&R Credit Agreement provides, solely with respect to the revolving credit facility, that the Company shall not permit its consolidated senior secured debt to consolidated EBITDA ratio to exceed 3.50 x as of the last day of each quarter commencing with the quarter ending December 31, 2019; provided, that if (i) the Company’s consolidated total debt to consolidated EBITDA ratio is not greater than 4.75 x as of such date and (ii) less than 25% of the revolving credit facility is utilized, then such financial covenant shall not apply. Stock Repurchase Program On October 14, 2019 , the Company's board of directors approved the increase of its existing authorization to repurchase shares of the Company's Class A common stock by $150,000 for a total authorization (including the previously authorized repurchases) of up to $300,000 of the Company's Class A common stock. The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations promulgated under the Exchange Act. Repurchases may be effected pursuant to a trading plan adopted in accordance with Rule 10b5-1 of the Exchange Act. The Company's board of directors will review the stock repurchase program periodically and may authorize adjustment of its terms and size or suspend or discontinue the program. As disclosed in Note 14 , Stockholders' Equity , in early October 2019, the Company's stock repurchases reached the previously authorized limit of $150,000 . Sale of UniNorte On November 1, 2019 , the Company closed on the previously announced sale of its institution UniNorte, a traditional higher education institution in Manaus, Brazil, to Ser Educational. The Company received proceeds of approximately $46,000 , prior to the payment of estimated closing costs and fees.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
The Variable Interest Entity (VIE) Arrangements	The Variable Interest Entity (VIE) Arrangements Laureate consolidates in its financial statements certain internationally based educational organizations that do not have shares or other equity ownership interests. Although these educational organizations may be considered not-for-profit entities in their home countries and they are operated in compliance with their respective not-for-profit legal regimes, we believe they do not meet the definition of a not-for-profit entity under GAAP, and therefore we treat them as ‘‘for-profit’’ entities for accounting purposes. These entities generally cannot declare dividends or distribute their net assets to the entities that control them. Under ASC 810-10, ‘‘Consolidation,’’ we have determined that these institutions are VIEs and that Laureate is the primary beneficiary of these VIEs because we have, as further described herein: (1) the power to direct the activities of the VIEs that most significantly affect their educational and economic performance and (2) the right to receive economic benefits from contractual and other arrangements with the VIEs that could potentially be significant to the VIEs. We account for the acquisition of the right to control a VIE in accordance with ASC 805, ‘‘Business Combinations.’’
Recently Issued Accounting Standards Not Yet Adopted And Recently Adopted Accounting Standards	Recently Issued Accounting Standards Not Yet Adopted Accounting Standards Update (ASU) No. 2016-13 (ASU 2016-13), Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In June 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-13, which sets forth a “current expected credit loss” (CECL) model and requires companies to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. ASU 2016-13 applies to financial instruments that are not measured at fair value, including receivables that result from revenue transactions. This ASU is effective for Laureate beginning on January 1, 2020. While we are currently evaluating the effect that ASU 2016-13 will have on our Consolidated Financial Statements, we do not expect this guidance to have a material impact. Recently Adopted Accounting Standards ASU No. 2016-02 (ASU 2016-02), Leases (Topic 842) On February 25, 2016, the FASB issued ASU 2016-02, which requires lessees to recognize on their balance sheet a right-of-use (ROU) asset and a lease liability for virtually all of their leases (other than leases that meet the definition of a short-term lease). The liability is equal to the present value of the lease payments. The asset is based on the liability, subject to adjustment, such as for initial direct costs and uneven rent payments. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases result in straight-line expense (similar to operating leases prior to adoption of ASU 2016-02) while finance leases will result in a front-loaded expense pattern (similar to capital leases prior to adoption of ASU 2016-02). Laureate adopted ASU 2016-02 as of January 1, 2019 under a modified retrospective method. The standard provided companies with an additional, optional transition method that allowed entities to prospectively apply the requirements by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. We elected this optional transition method. In accordance with ASC Topic 842 we also elected the package of practical expedients, which permits us to not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) any initial direct costs for any existing leases as of the effective date. We did not elect the hindsight practical expedient, which permits entities to use hindsight in determining the lease term and assessing impairment. We elected the practical expedient to combine our lease and related nonlease components for our building leases. Adopting ASU 2016-02 had a material impact on our Consolidated Balance Sheet as we recorded significant asset and liability balances in connection with our leased properties. The most significant impacts to our Consolidated Financial Statements of adopting this standard are as follows: • The recognition of ROU assets and lease liabilities for operating leases, which totaled $871,746 and $892,747 , respectively, as of September 30, 2019 ; • An increase in 2019 rent expense of approximately $13,000 for continuing operations primarily related to build-to-suit arrangements where Laureate was deemed to be the owner of the construction. Upon adoption of this standard, these arrangements were classified on the balance sheet as operating leases and the related ROU asset is being amortized to rent expense rather than depreciation expense; and • A cumulative-effect adjustment to retained earnings upon adoption of $28,944 , which is primarily attributable to the reclassification into retained earnings of deferred gain liabilities related to sale-leaseback transactions that were classified as operating leases upon adoption. ASU No. 2017-12 (ASU 2017-12), Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities On August 28, 2017, the FASB issued ASU 2017-12, which contains significant amendments to the hedge accounting model. The new guidance is intended to simplify the application of hedge accounting and should allow for more hedging strategies to qualify for hedge accounting. ASU 2017-12 also amends the presentation and disclosure requirements and changes how companies assess effectiveness. Public business entities like Laureate will have until the end of the first quarter in which a hedge is designated to perform an initial assessment of a hedge’s effectiveness. After initial qualification, the new guidance permits a qualitative effectiveness assessment for certain hedges instead of a quantitative test, such as a regression analysis, if the company can reasonably support an expectation of high effectiveness throughout the term of the hedge. An initial quantitative test to establish that the hedge relationship is highly effective is still required. We adopted this ASU on January 1, 2019 and the impact was not material. ASU No. 2018-15 (ASU 2018-15) Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) In August 2018, the FASB issued ASU 2018-15, which addresses the accounting for implementation costs associated with a hosted service. The standard provides amendments to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). Laureate elected to early adopt ASU 2018-15 on January 1, 2019, and the impact on our Consolidated Financial Statements was not material.
Revenue Recognition	Revenue Recognition Laureate's revenues primarily consist of tuition and educational service revenues. We also generate other revenues from student fees, dormitory/residency fees and other education-related activities. These other revenues are less material to our overall financial results and have a tendency to trend with tuition revenues. Revenues are recognized when control of the promised goods or services is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. These revenues are recognized net of scholarships and other discounts, refunds, waivers and the fair value of any guarantees made by Laureate related to student financing programs. Laureate's institutions have various billing and academic cycles. We determine revenue recognition through the five-step model prescribed by ASC Topic 606, Revenue from Contracts with Customers , as follows: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, we satisfy a performance obligation. We assess collectibility on a portfolio basis prior to recording revenue. Generally, students cannot re-enroll for the next academic session without satisfactory resolution of any past-due amounts. If a student withdraws from an institution, Laureate's obligation to issue a refund depends on the refund policy at that institution and the timing of the student's withdrawal. Generally, our refund obligations are reduced over the course of the academic term. We record refunds as a reduction of deferred revenue as applicable. Contract Balances The timing of billings, cash collections and revenue recognition results in accounts receivable (contract assets) and deferred revenue and student deposits (contract liabilities) on the Consolidated Balance Sheets. We have various billing and academic cycles and recognize student receivables when an academic session begins, although students generally enroll in courses prior to the start of the academic session. Receivables are recognized only to the extent that it is probable that we will collect substantially all of the consideration to which we are entitled in exchange for the goods and services that will be transferred to the student. We receive advance payments or deposits from our students before revenue is recognized, which are recorded as contract liabilities in deferred revenue and student deposits. Payment terms vary by university with some universities requiring payment in advance of the academic session and other universities allowing students to pay in installments over the term of the academic session.
Business and Geographic Segment Information	Business and Geographic Segment Information Laureate’s educational services are offered through six operating segments: Brazil, Mexico, Andean, Central America & U.S. Campuses, Rest of World and Online & Partnerships. Laureate determines its operating segments based on information utilized by the chief operating decision maker to allocate resources and assess performance. Our campus-based segments generate revenues by providing an education that emphasizes professional-oriented fields of study with undergraduate and graduate degrees in a wide range of disciplines. Our educational offerings are increasingly utilizing online and hybrid (a combination of online and in-classroom) courses and programs to deliver their curriculum. Many of our largest campus-based operations are in developing markets which are experiencing a growing demand for higher education based on favorable demographics and increasing secondary completion rates, driving increases in participation rates and resulting in continued growth in the number of higher education students. Traditional higher education students (defined as 18-24 year olds) have historically been served by public universities, which have limited capacity and are often underfunded, resulting in an inability to meet the growing student demand and employer requirements. This supply and demand imbalance has created a market opportunity for private sector participants. Most students finance their own education. However, there are some government-sponsored student financing programs which are discussed below. The campus-based segments include Brazil, Mexico, Andean, Central America & U.S. Campuses and Rest of World. Specifics related to each of these campus-based segments and our Online & Partnerships segment are discussed below . In Brazil, approximately 75% of post-secondary students are enrolled in private higher education institutions. While the federal government defines the national curricular guidelines, institutions are licensed to operate by city. Laureate owns 13 institutions in eight states throughout Brazil, with a particularly strong presence in the competitive São Paulo market. Many students finance their own education while others rely on the government-sponsored programs such as Prouni and FIES. As described in Note 4 , Discontinued Operations and Assets Held for Sale , on April 16, 2019 , the Company entered into an agreement to divest UniNorte, a traditional higher education institution in Manaus, Brazil. This transaction closed on November 1, 2019. See also Note 21 , Subsequent Events . Public universities in Mexico enroll approximately two thirds of students attending post-secondary education. However, many public institutions are faced with capacity constraints or the quality of the education is considered low. Laureate owns two institutions and is present throughout the country with a footprint of over 40 campuses. Each institution in Mexico has a national license. Students in our Mexican institutions typically finance their own education. The Andean segment includes institutions in Chile and Peru. In Chile, private universities enroll approximately 80% of post-secondary students and there are government-sponsored student financing programs. In Peru, the public sector plays a significant role, but private universities are increasingly providing the capacity to meet growing demand. The Central America & U.S. Campuses segment includes institutions in Costa Rica, Honduras, Panama and the United States. Students in Central America typically finance their own education while students in the United States finance their education in a variety of ways, including U.S. Department of Education (DOE) Title IV programs. The entire Central America & U.S. Campuses segment is included in Discontinued Operations. The Rest of World segment includes campus-based institutions in Asia Pacific with operations in Australia, Malaysia and New Zealand. Additionally, the Rest of World segment manages one institution in China through a joint venture arrangement and, until August 31, 2019 when the contract expired, the Rest of World segment also managed eight licensed institutions in the Kingdom of Saudi Arabia. The institutions in Malaysia and the Kingdom of Saudi Arabia are included in Discontinued Operations. The Online & Partnerships segment includes fully online institutions that offer professionally oriented degree programs in the United States through Walden University (Walden), a U.S.-based accredited institution, and through the University of Liverpool and the University of Roehampton in the United Kingdom. These online institutions primarily serve working adults with undergraduate and graduate degree program offerings. Students in the United States finance their education in a variety of ways, including Title IV programs. We no longer accept new enrollments at the University of Liverpool and the University of Roehampton, which are in a teach-out process . As discussed in Note 1 , Description of Business , and Note 4 , Discontinued Operations and Assets Held for Sale , a number of our subsidiaries have met the requirements to be classified as discontinued operations, including the entire Central America & U.S. Campuses segment . As a result, the operations of the Central America & U.S. Campuses segment have been excluded from the segment information for all periods presented. In addition, the portion of the Rest of World reportable segment that is included in Discontinued Operations has also been excluded from the segment information for all periods presented. Intersegment transactions are accounted for in a similar manner as third-party transactions and are eliminated in consolidation. The Corporate amounts presented in the following tables include corporate charges that were not allocated to our reportable segments and adjustments to eliminate intersegment items. We evaluate segment performance based on Adjusted EBITDA, which is a non-GAAP performance measure defined as Income (loss) from continuing operations before income taxes and equity in net income of affiliates, adding back the following items: Loss on sale or disposal of subsidiaries, Foreign currency exchange loss, net , Other income, net , Gain on derivatives , Loss on debt extinguishment , Interest expense , Interest income , Depreciation and amortization expense, Loss on impairment of assets, Share-based compensation expense and expenses related to our Excellence-in-Process (EiP) initiative. EiP is an enterprise-wide initiative to optimize and standardize Laureate’s processes, creating vertical integration of procurement, information technology, finance, accounting and human resources. It included the establishment of regional shared services organizations (SSOs) around the world, as well as improvements to the Company's system of internal controls over financial reporting. The EiP initiative also includes other back- and mid-office areas, as well as certain student-facing activities, expenses associated with streamlining the organizational structure and certain non-recurring costs incurred in connection with the planned dispositions described in Note 4 , Discontinued Operations and Assets Held for Sale , and the completed dispositions described in Note 5 , Dispositions . Beginning in 2019, EiP also includes expenses associated with an enterprise-wide program aimed at revenue growth. When we review Adjusted EBITDA on a segment basis, we exclude intercompany revenues and expenses related to network fees and royalties between our segments, which eliminate in consolidation. We use total assets as the measure of assets for reportable segments.
Financing Receivables	Financing Receivables Laureate’s financing receivables consist primarily of trade receivables related to student tuition financing programs with an initial term in excess of one year. We have offered long-term financing through the execution of note receivable agreements with students at some of our institutions. Our disclosures include financing receivables that are classified in our Consolidated Balance Sheets as both current and long-term, reported in accordance with ASC 310, “Receivables.”
Financing Receivable, Allowance for Credit Losses	Delinquency is the primary indicator of credit quality for our financing receivables. Receivable balances are considered delinquent when contractual payments on the loan become past due. Delinquent financing receivables are placed on non-accrual status for interest income. The accrual of interest is resumed when the financing receivable becomes contractually current and when collection of all remaining amounts due is reasonably assured. We record an Allowance for doubtful accounts to reduce our financing receivables to their net realizable value. The Allowance for doubtful accounts is based on the age of the receivables, the status of past-due amounts, historical collection trends, current economic conditions, and student enrollment status. Each of our institutions evaluates its balances for potential impairment. We consider impaired loans to be those that are past due one year or greater, and those that are modified as a troubled debt restructuring (TDR).
Derivative Instruments	Derivative Instruments In the normal course of business, our operations are exposed to fluctuations in foreign currency values and interest rate changes. We may seek to control a portion of these risks through a risk management program that includes the use of derivative instruments. The interest and principal payments for Laureate’s senior long-term debt arrangements are to be paid primarily in USD. Our ability to make debt payments is subject to fluctuations in the value of the USD against foreign currencies, since a majority of our operating cash used to make these payments is generated by subsidiaries with functional currencies other than USD. As part of our overall risk management policies, Laureate has at times entered into foreign currency swap contracts and floating-to-fixed interest rate swap contracts. In addition, we occasionally enter into foreign exchange forward contracts to reduce the impact of other non-functional currency-denominated receivables and payables. We do not enter into speculative or leveraged transactions, nor do we hold or issue derivatives for trading purposes. Laureate reports all derivatives at fair value. These contracts are recognized as either assets or liabilities, depending upon the derivative’s fair value. Gains or losses associated with the change in the fair value of these swaps are recognized in our Consolidated Statements of Operations on a current basis over the term of the contracts, unless designated and effective as a hedge. For swaps that are designated and effective as cash flow hedges, gains or losses associated with the change in fair value of the swaps are recognized in our Consolidated Balance Sheets as a component of AOCI and amortized into earnings as a component of Interest expense over the term of the related hedged items. Upon early termination of an effective interest rate swap designated as a cash flow hedge, unrealized gains or losses are deferred in our Consolidated Balance Sheets as a component of AOCI and are amortized as an adjustment to Interest expense over the period during which the hedged forecasted transaction affects earnings. For derivatives that are both designated and effective as net investment hedges, gains or losses associated with the change in fair value of the derivatives are recognized on our Consolidated Balance Sheets as a component of AOCI.
Earnings (Loss) Per Share	Earnings (Loss) Per Share We have two classes of common stock, Class A common stock and Class B common stock. Other than voting rights, the Class B common stock has the same rights as the Class A common stock and therefore both are treated as the same class of stock for purposes of the earnings per share calculation. Laureate computes basic earnings per share (EPS) by dividing income available to common shareholders by the weighted average number of common shares outstanding for the reporting period. Diluted EPS reflects the potential dilution that would occur if share-based compensation awards, contingently issuable shares, or convertible securities were exercised or converted into common stock. To calculate the diluted EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options, restricted stock, restricted stock units, and contingently issuable shares determined using the treasury stock method, and convertible securities using the if-converted method.
Fair Value Measurement	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to settle a liability in an orderly transaction between market participants at the measurement date. Accounting standards utilize a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels, which are described below: • Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets; • Level 2 – Observable inputs other than quoted prices that are either directly or indirectly observable for the asset or liability; • Level 3 – Unobservable inputs that are supported by little or no market activity. These levels are not necessarily an indication of the risk of liquidity associated with the financial assets or liabilities disclosed. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement, as required under ASC 820-10, ‘‘Fair Value Measurement.’’ Derivative instruments Laureate uses derivative instruments as economic hedges for bank debt, foreign exchange fluctuations and interest rate risk. Their values are derived using valuation models commonly used for derivatives. These valuation models require a variety of inputs, including contractual terms, market prices, forward-price yield curves, notional quantities, measures of volatility and correlations of such inputs. Our valuation models also reflect measurements for credit risk. Laureate concluded that the fair values of our derivatives are based on unobservable inputs, or Level 3 assumptions. The significant unobservable input used in the fair value measurement of the Company's derivative instruments is our own credit risk. Holding other inputs constant, a significant increase (decrease) in our own credit risk would result in a significantly lower (higher) fair value measurement for the Company's derivative instruments.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Schedule of variable interest entities	The VIEs in Brazil and Mexico comprise several not-for-profit foundations that have insignificant revenues and operating expenses. Selected Consolidated Statements of Operations information for VIEs that are included in continuing operations was as follows, net of the charges related to the above-described contractual arrangements: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Selected Statements of Operations information: Revenues, by segment: Brazil $ — $ — $ — $ — Mexico — 4 — 89 Andean 120,746 119,884 325,668 325,423 Revenues 120,746 119,888 325,668 325,512 Depreciation and amortization 6,521 6,163 19,507 19,398 Operating income (loss), by segment: Brazil 81 (16 ) 46 (56 ) Mexico (96 ) (121 ) (292 ) (349 ) Andean 23,576 12,954 40,875 7,714 Operating income 23,561 12,817 40,629 7,309 Net income 25,510 18,812 43,094 22,860 Net income attributable to Laureate Education, Inc. 25,510 18,812 43,094 22,860 The following table reconciles the Net income attributable to Laureate Education, Inc. as presented in the table above, to the amounts in our Consolidated Statements of Operations: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Net income (loss) attributable to Laureate Education, Inc.: Variable interest entities $ 25,510 $ 18,812 $ 43,094 $ 22,860 Other operations 33,432 21,564 687,966 241,920 Corporate and eliminations (154,168 ) (135,165 ) 146,549 33,719 Net (loss) income attributable to Laureate Education, Inc. $ (95,226 ) $ (94,789 ) $ 877,609 $ 298,499 The following table presents selected assets and liabilities of the consolidated VIEs. Except for Goodwill, the assets in the table below include the assets that can be used only to settle the obligations for the VIEs. The liabilities in the table are liabilities for which the creditors of the VIEs do not have recourse to the general credit of Laureate. Selected Consolidated Balance Sheet amounts for these VIEs were as follows: September 30, 2019 December 31, 2018 VIE Consolidated VIE Consolidated Balance Sheets data: Cash and cash equivalents $ 163,413 $ 323,930 $ 158,387 $ 387,780 Current assets held for sale 17,586 131,606 183,880 337,686 Other current assets 233,477 668,663 141,346 491,667 Total current assets 414,476 1,124,199 483,613 1,217,133 Goodwill 162,833 1,677,392 168,473 1,707,089 Tradenames 63,731 1,116,189 66,929 1,126,244 Other intangible assets, net — 1,697 — 25,429 Operating lease right-of-use assets, net 69,934 871,746 — — Long-term assets held for sale 69,603 448,573 165,087 1,035,197 Other long-term assets 272,957 1,584,917 312,711 1,658,544 Total assets 1,053,534 6,824,713 1,196,813 6,769,636 Current liabilities held for sale 12,337 136,634 101,320 321,520 Other current liabilities 209,573 1,239,574 106,657 868,567 Long-term operating leases, less current portion 59,948 800,828 — — Long-term liabilities held for sale 30,833 158,501 42,265 358,863 Long-term debt and other long-term liabilities 31,610 1,646,352 24,502 3,155,344 Total liabilities 344,301 3,981,889 274,744 4,704,294 Total stockholders' equity 709,233 2,830,880 922,069 2,050,946 Total stockholders' equity attributable to Laureate Education, Inc. 709,233 2,843,440 921,747 2,061,079

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of revenue by segment	The following table shows the components of Revenues by reportable segment and as a percentage of total net revenue for the three months ended September 30, 2019 and 2018 : Brazil Mexico Andean Rest of World Online & Partnerships Corporate (1) Total 2019 Tuition and educational services $ 200,876 $ 156,123 $ 322,918 $ 56,277 $ 173,351 $ — $ 909,545 118 % Other 2,384 27,539 23,767 1,720 12,384 (1,502 ) 66,292 9 % Gross revenue 203,260 183,662 346,685 57,997 185,735 (1,502 ) 975,837 126 % Less: Discounts / waivers / scholarships (89,205 ) (37,872 ) (39,415 ) (5,412 ) (30,234 ) — (202,138 ) (26 )% Total $ 114,055 $ 145,790 $ 307,270 $ 52,585 $ 155,501 $ (1,502 ) $ 773,699 100 % 2018 Tuition and educational services $ 196,670 $ 158,602 $ 312,274 $ 49,829 $ 180,063 $ — $ 897,438 115 % Other 2,272 23,676 22,594 2,204 13,767 (3,694 ) 60,819 8 % Gross revenue 198,942 182,278 334,868 52,033 193,830 (3,694 ) 958,257 123 % Less: Discounts / waivers / scholarships (77,853 ) (33,953 ) (35,255 ) (4,332 ) (28,609 ) — (180,002 ) (23 )% Total $ 121,089 $ 148,325 $ 299,613 $ 47,701 $ 165,221 $ (3,694 ) $ 778,255 100 % (1) Includes the elimination of intersegment revenues. The following table shows the components of Revenues by reportable segment and as a percentage of total net revenue for the nine months ended September 30, 2019 and 2018 : Brazil Mexico Andean Rest of World Online & Partnerships Corporate (1) Total 2019 Tuition and educational services $ 735,889 $ 499,013 $ 909,292 $ 145,143 $ 531,990 $ — $ 2,821,327 119 % Other 6,751 75,201 62,377 5,662 37,713 (2,066 ) 185,638 8 % Gross revenue 742,640 574,214 971,669 150,805 569,703 (2,066 ) 3,006,965 127 % Less: Discounts / waivers / scholarships (321,511 ) (109,505 ) (102,462 ) (13,601 ) (92,712 ) — (639,791 ) (27 )% Total $ 421,129 $ 464,709 $ 869,207 $ 137,204 $ 476,991 $ (2,066 ) $ 2,367,174 100 % 2018 Tuition and educational services $ 741,945 $ 499,876 $ 889,290 $ 137,138 $ 541,681 $ — $ 2,809,930 117 % Other 7,974 68,905 59,523 6,652 40,500 (9,418 ) 174,136 7 % Gross revenue 749,919 568,781 948,813 143,790 582,181 (9,418 ) 2,984,066 124 % Less: Discounts / waivers / scholarships (280,439 ) (104,913 ) (104,600 ) (12,378 ) (83,974 ) — (586,304 ) (24 )% Total $ 469,480 $ 463,868 $ 844,213 $ 131,412 $ 498,207 $ (9,418 ) $ 2,397,762 100 % (1) Includes the elimination of intersegment revenues.

Discontinued Operations and A_2

Discontinued Operations and Assets Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Summary of major classes of assets and liabilities reclassified to held for sale	The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are presented in the following tables: September 30, 2019 December 31, 2018 Assets of Discontinued Operations Cash and cash equivalents $ 62,194 $ 215,644 Receivables, net 42,277 62,576 Property and equipment, net 259,884 671,121 Goodwill 9,613 131,329 Tradenames 6,893 124,932 Operating lease right-of-use assets, net 66,673 — Other assets 61,056 106,326 Subtotal: assets of Discontinued Operations $ 508,590 $ 1,311,928 Other assets classified as held for sale: UniNorte Brazil Receivables, net $ 6,969 $ 6,983 Property and equipment, net 13,193 16,726 Goodwill 14,083 15,165 Tradenames 7,565 8,146 Operating lease right-of-use assets, net 15,244 — Other assets 6,161 13,935 Other land and buildings classified as held for sale Property and equipment, net 8,374 — Subtotal: other assets classified as held for sale $ 71,589 $ 60,955 Total assets held for sale $ 580,179 $ 1,372,883 September 30, 2019 December 31, 2018 Liabilities of Discontinued Operations Deferred revenue and student deposits $ 53,885 $ 115,969 Operating leases, including current portion 71,411 — Long-term debt and finance leases, including current portion 56,054 279,612 Other liabilities 91,094 269,558 Subtotal: liabilities of Discontinued Operations $ 272,444 $ 665,139 Other liabilities classified as held for sale: UniNorte Brazil Deferred revenue and student deposits $ 1,768 $ 469 Operating leases, including current portion 10,119 — Long-term debt and finance leases, including current portion 2,250 5,370 Other liabilities 8,554 9,405 Subtotal: other liabilities classified as held for sale $ 22,691 $ 15,244 Total liabilities held for sale $ 295,135 $ 680,383 Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables: For the three months ended September 30, 2019 2018 Revenues $ 65,316 $ 160,278 Depreciation and amortization 339 6,991 Share-based compensation expense 119 173 Loss on impairment of assets 25,000 — Other direct costs 64,681 188,284 Operating loss (24,823 ) (35,170 ) Other non-operating expense (252 ) (5,674 ) Pretax loss of discontinued operations (25,075 ) (40,844 ) Income tax (expense) benefit (2,062 ) 2,939 Loss from discontinued operations, net of tax $ (27,137 ) $ (37,905 ) For the nine months ended September 30, 2019 2018 Revenues $ 446,002 $ 673,975 Depreciation and amortization 1,176 28,776 Share-based compensation expense 387 920 Loss on impairment of assets 25,000 — Other direct costs 343,317 561,528 Operating income 76,122 82,751 Other non-operating income (loss) 6,276 (18,794 ) Pretax income of discontinued operations 82,398 63,957 Income tax expense (15,926 ) (40,406 ) Income from discontinued operations, net of tax $ 66,472 $ 23,551 Operating cash flows of discontinued operations $ 45,237 $ 155,367 Investing cash flows of discontinued operations $ (16,007 ) $ (40,043 ) Financing cash flows of discontinued operations $ (44,984 ) $ (17,306 )

Due to Shareholders of Acquir_2

Due to Shareholders of Acquired Companies (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Summary of amounts due to shareholders of acquired companies	The amounts due to shareholders of acquired companies, currencies, and interest rates applied were as follows: September 30, 2019 December 31, 2018 Nominal Currency Interest Universidade Anhembi Morumbi (UAM Brazil) $ 20,145 $ 30,912 BRL CDI + 2% IADE Group 1,096 1,141 EUR 3% Faculdade Porto-Alegrense (FAPA) 217 1,943 BRL IGP-M University of St. Augustine for Health Sciences, LLC (St. Augustine) — 11,395 USD 7% Total due to shareholders of acquired companies 21,458 45,391 Less: Current portion of due to shareholders of acquired companies 11,502 23,820 Due to shareholders of acquired companies, less current portion $ 9,956 $ 21,571 BRL: Brazilian Real CDI: Certificados de Depósitos Interbancários (Brazil) EUR: European Euro IGP-M: General Index of Market Prices (Brazil) USD: United States Dollar

Business and Geographic Segme_2

Business and Geographic Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of segment financial information	The following tables provide financial information for our reportable segments, including a reconciliation of Adjusted EBITDA to (Loss) income from continuing operations before income taxes and equity in net income of affiliates, as reported in the Consolidated Statements of Operations: For the three months ended For the nine months ended September 30, September 30, 2019 2018 2019 2018 Revenues Brazil $ 114,055 $ 121,089 $ 421,129 $ 469,480 Mexico 145,790 148,325 464,709 463,868 Andean 307,270 299,613 869,207 844,213 Rest of World 52,585 47,701 137,204 131,412 Online & Partnerships 155,501 165,221 476,991 498,207 Corporate (1,502 ) (3,694 ) (2,066 ) (9,418 ) Revenues $ 773,699 $ 778,255 $ 2,367,174 $ 2,397,762 Adjusted EBITDA of reportable segments Brazil $ 3,134 $ 682 $ 31,334 $ 52,600 Mexico 23,064 23,715 80,476 81,965 Andean 92,604 90,610 246,095 235,376 Rest of World 11,455 8,046 20,205 11,968 Online & Partnerships 44,320 45,725 142,755 136,126 Total Adjusted EBITDA of reportable segments 174,577 168,778 520,865 518,035 Reconciling items: Corporate (40,827 ) (45,562 ) (117,895 ) (127,567 ) Depreciation and amortization expense (48,557 ) (52,806 ) (145,108 ) (161,185 ) Loss on impairment of assets — (10,030 ) (470 ) (10,030 ) Share-based compensation expense (1,459 ) (6,388 ) (9,194 ) (9,572 ) EiP expenses (38,004 ) (24,996 ) (77,332 ) (60,292 ) Operating income 45,730 28,996 170,866 149,389 Interest income 3,154 3,502 9,552 9,358 Interest expense (40,319 ) (58,319 ) (136,438 ) (181,746 ) Loss on debt extinguishment (200 ) — (26,417 ) (7,481 ) Gain (loss) on derivatives 284 (144 ) 8,099 92,112 Other income, net 1,038 8,312 9,138 10,815 Foreign currency exchange loss, net (14,777 ) (26,443 ) (10,643 ) (43,959 ) Loss on disposal of subsidiaries (1,474 ) — (1,474 ) — (Loss) income from continuing operations before income taxes and equity in net income of affiliates $ (6,564 ) $ (44,096 ) $ 22,683 $ 28,488
Schedule of long-lived assets by geographic areas	September 30, 2019 December 31, 2018 Assets Brazil $ 1,072,447 $ 1,011,391 Mexico 1,284,743 971,309 Andean 1,922,829 1,608,406 Rest of World 203,881 196,370 Online & Partnerships 1,227,428 1,308,854 Corporate and Discontinued Operations 1,113,385 1,673,306 Total assets $ 6,824,713 $ 6,769,636

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of change in the net carrying amount of goodwill	The change in the net carrying amount of Goodwill from December 31, 2018 through September 30, 2019 was composed of the following items: Brazil Mexico Andean Rest of World Online & Partnerships Total Balance at December 31, 2018 $ 406,452 $ 498,219 $ 254,259 $ 87,419 $ 460,740 $ 1,707,089 Acquisitions 1,333 — — — — 1,333 Dispositions — — — — — — Impairments — — — — — — Currency translation adjustments (29,194 ) 10,143 (8,366 ) (3,613 ) — (31,030 ) Adjustments to prior acquisitions — — — — — — Balance at September 30, 2019 $ 378,591 $ 508,362 $ 245,893 $ 83,806 $ 460,740 $ 1,677,392

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt outstanding	Outstanding long-term debt was as follows: September 30, 2019 December 31, 2018 Senior long-term debt: Senior Secured Credit Facility (stated maturity dates of April 2022 as of September 30, 2019 and April 2022 and April 2024 as of December 31, 2018), net of discount $ 59,000 $ 1,321,629 Senior Notes (stated maturity date May 2025) 800,000 800,000 Total senior long-term debt 859,000 2,121,629 Other debt: Lines of credit 28,850 37,899 Notes payable and other debt 358,138 503,182 Total senior and other debt 1,245,988 2,662,710 Finance lease obligations and sale-leaseback financings 99,706 119,443 Total long-term debt and finance leases 1,345,694 2,782,153 Less: total unamortized deferred financing costs 67,412 88,241 Less: current portion of long-term debt and finance leases 119,932 100,818 Long-term debt and finance leases, less current portion $ 1,158,350 $ 2,593,094
Schedule estimated fair values of debt	The estimated fair value of our debt was as follows: September 30, 2019 December 31, 2018 Carrying amount Estimated fair value Carrying amount Estimated fair value Total senior and other debt $ 1,245,988 $ 1,316,988 $ 2,662,710 $ 2,675,684

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of lease assets and liabilities	Supplemental balance sheet information related to leases was as follows: Leases Classification September 30, 2019 Assets: Operating Operating lease right-of-use assets, net $ 871,746 Finance Buildings, Furniture, equipment and software, net 55,073 Total leased assets $ 926,819 Liabilities: Current Operating Current portion of operating leases $ 91,919 Finance Current portion of long-term debt and finance leases 4,838 Non-current Operating Long-term operating leases, less current portion 800,828 Finance Long-term debt and finance leases, less current portion 53,820 Total lease liabilities $ 951,405
Lease cost	Lease Term and Discount Rate September 30, 2019 Weighted average remaining lease terms Operating leases 9.4 years Finance leases 11.9 years Weighted average discount rate Operating leases 9.50 % Finance leases 8.50 % The components of lease cost were as follows: Lease Cost Classification For the three months ended September 30, 2019 For the nine months ended September 30, 2019 Operating lease cost Direct costs $ 42,032 $ 132,546 Finance lease cost Amortization of leased assets Direct costs 1,880 4,518 Interest on leased assets Interest expense 1,264 2,741 Short-term lease costs Direct costs 810 2,800 Variable lease costs Direct costs 4,483 11,056 Sublease income Revenues (1,049 ) (3,260 ) Total lease cost $ 49,420 $ 150,401 Supplemental cash flow information related to leases was as follows for the nine months ended September 30, 2019 : Other Information Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 139,010 Operating cash flows from finance leases $ 2,742 Financing cash flows from finance leases $ 3,128 Leased assets obtained for new finance lease liabilities $ 38,217 Leased assets obtained for new operating lease liabilities $ 6,394
Schedule of finance lease liability maturity	As of September 30, 2019 , maturities of lease liabilities were as follows: Maturity of Lease Liability Operating Leases Finance Leases Year 1 $ 169,383 $ 9,473 Year 2 159,432 9,180 Year 3 149,816 8,834 Year 4 140,692 8,354 Year 5 133,134 6,288 Thereafter 571,234 51,095 Total lease payments $ 1,323,691 $ 93,224 Less: interest and inflation (430,944 ) (34,566 ) Present value of lease liabilities $ 892,747 $ 58,658
Schedule of operating lease liability maturity	As of September 30, 2019 , maturities of lease liabilities were as follows: Maturity of Lease Liability Operating Leases Finance Leases Year 1 $ 169,383 $ 9,473 Year 2 159,432 9,180 Year 3 149,816 8,834 Year 4 140,692 8,354 Year 5 133,134 6,288 Thereafter 571,234 51,095 Total lease payments $ 1,323,691 $ 93,224 Less: interest and inflation (430,944 ) (34,566 ) Present value of lease liabilities $ 892,747 $ 58,658
Schedule of future minimum lease payments	As disclosed in our 2018 Form 10-K, future minimum lease payments at December 31, 2018 , prior to the adoption of ASC Topic 842, by year and in the aggregate, under all noncancellable operating leases were as follows: Lease Payments 2019 $ 151,795 2020 142,995 2021 135,426 2022 128,441 2023 119,955 Thereafter 482,220 Total $ 1,160,832

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Summary of redeemable noncontrolling interest	If the minority put arrangements were all exercised at September 30, 2019 , Laureate would be obligated to pay the noncontrolling interest holders an estimated amount of $10,230 , as summarized in the following table: Nominal Currency First Exercisable Date Estimated Value as of September 30, 2019 redeemable within 12-months Reported Noncontrolling interest holder put arrangements INTI Education Holdings Sdn Bhd (Inti Holdings) - 10.10% MYR Current $ 10,230 $ 10,230 Total noncontrolling interest holder put arrangements 10,230 10,230 Puttable common stock - not currently redeemable USD * — 1,714 Total redeemable noncontrolling interests and equity $ 10,230 $ 11,944 * Contingently redeemable MYR: Malaysian Ringgit

Financing Receivables (Tables)

Financing Receivables (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Schedule of financing receivable	Laureate’s financing receivables balances were as follows: September 30, 2019 December 31, 2018 Financing receivables $ 33,126 $ 16,531 Allowance for doubtful accounts (6,064 ) (6,395 ) Financing receivables, net of allowances $ 27,062 $ 10,136
Summary of aging of financing receivables by country	The aging of financing receivables grouped by country portfolio was as follows: Chile Other Total As of September 30, 2019 Amounts past due less than one year $ 9,798 $ 509 $ 10,307 Amounts past due one year or greater 3,038 140 3,178 Total past due (on non-accrual status) 12,836 649 13,485 Not past due 17,895 1,746 19,641 Total financing receivables $ 30,731 $ 2,395 $ 33,126 As of December 31, 2018 Amounts past due less than one year $ 7,618 $ 644 $ 8,262 Amounts past due one year or greater 2,879 192 3,071 Total past due (on non-accrual status) 10,497 836 11,333 Not past due 4,980 218 5,198 Total financing receivables $ 15,477 $ 1,054 $ 16,531
Summary of allowance for credit losses on financing receivables	The following is a rollforward of the Allowance for doubtful accounts related to financing receivables for the nine months ended September 30, 2019 and 2018 , grouped by country portfolio: Chile Other Total Balance at December 31, 2018 $ (6,108 ) $ (287 ) $ (6,395 ) Charge-offs 1,438 501 1,939 Recoveries — — — Reclassifications — — — Provision (1,245 ) (646 ) (1,891 ) Currency adjustments 280 3 283 Balance at September 30, 2019 $ (5,635 ) $ (429 ) $ (6,064 ) Balance at December 31, 2017 $ (6,107 ) $ (365 ) $ (6,472 ) Charge-offs 1,338 37 1,375 Recoveries — — — Reclassifications — — — Provision (1,233 ) 18 (1,215 ) Currency adjustments 434 2 436 Balance at September 30, 2018 $ (5,568 ) $ (308 ) $ (5,876 )
Summary of troubled debt restructuring	The number of financing receivable accounts and the pre- and post-modification account balances modified under the terms of a TDR during the nine months ended September 30, 2019 and 2018 were as follows: Number of Financing Receivable Accounts Pre-Modification Balance Outstanding Post-Modification Balance Outstanding 2019 358 $ 1,153 $ 1,020 2018 435 $ 1,345 $ 1,262 The preceding table represents accounts modified under the terms of a TDR during the nine months ended September 30, 2019 , whereas the following table represents accounts modified as a TDR between January 1, 2018 and September 30, 2019 that subsequently defaulted during the nine months ended September 30, 2019 : Number of Financing Receivable Accounts Balance at Default Total 183 $ 415 The following table represents accounts modified as a TDR between January 1, 2017 and September 30, 2018 that subsequently defaulted during the nine months ended September 30, 2018 : Number of Financing Receivable Accounts Balance at Default Total 128 $ 455

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Summary of share-based compensation expense	Share-based compensation expense was as follows: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Continuing operations Stock options, net of estimated forfeitures $ 708 $ 1,932 $ 2,871 $ (3,333 ) Restricted stock awards 751 4,456 6,323 12,905 Total continuing operations $ 1,459 $ 6,388 $ 9,194 $ 9,572 Discontinued operations Share-based compensation expense for discontinued operations 119 173 387 920 Total continuing and discontinued operations $ 1,578 $ 6,561 $ 9,581 $ 10,492

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Components of net changes in stockholders' equity	The components of net changes in stockholders' equity for the fiscal quarters of 2018 are as follows: Laureate Education, Inc. Stockholders Class A Common Stock Class B Common Stock Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at December 31, 2017 55,052 $ 220 132,443 $ 530 $ 3,446,206 $ (946,236 ) $ (925,556 ) $ 12,118 $ 1,587,282 Adoption of accounting standards — — — — — 5,074 — — 5,074 Balance at January 1, 2018 55,052 220 132,443 530 3,446,206 (941,162 ) (925,556 ) 12,118 1,592,356 Non-cash stock compensation — — — — (3,756 ) — — — (3,756 ) Conversion of Class B shares to Class A shares 59 — (59 ) — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 145 1 59 — (804 ) — — — (803 ) Distributions from noncontrolling interest holders — — — — — — — 581 581 Change in noncontrolling interests — — — — (468 ) — — (20,575 ) (21,043 ) Accretion of redeemable noncontrolling interests and equity — — — — (76 ) — — — (76 ) Accretion of Series A Convertible Redeemable Preferred Stock — — — — (57,324 ) — — — (57,324 ) Reclassification of redeemable noncontrolling interests and equity — — — — — — — 38 38 Net income — — — — — 168,879 — 2,666 171,545 Foreign currency translation adjustment, net of tax of $0 — — — — — — 83,648 (279 ) 83,369 Unrealized gain on derivatives, net of tax of $0 — — — — — — 2,210 — 2,210 Minimum pension liability adjustment, net of tax of $0 — — — — — — 376 — 376 Balance at March 31, 2018 55,256 $ 221 132,443 $ 530 $ 3,383,778 $ (772,283 ) $ (839,322 ) $ (5,451 ) $ 1,767,473 Non-cash stock compensation — — — — 7,687 — — — 7,687 Conversion of Class B shares to Class A shares 27 — (27 ) — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 188 1 — — (942 ) — — — (941 ) Distributions to noncontrolling interest holders — — — — — — — (1,473 ) (1,473 ) Change in noncontrolling interests — — — — — — — (2,730 ) (2,730 ) Accretion of redeemable noncontrolling interests and equity — — — — 882 — — — 882 Accretion of Series A Preferred Stock — — — — (4,650 ) — — — (4,650 ) Gain upon conversion of Series A Preferred Stock — — — — 74,110 — — — 74,110 Reclassification of Series A Preferred Stock upon conversion 36,143 144 — — 237,957 — — — 238,101 Other — — — — — (744 ) — — (744 ) Reclassification of redeemable noncontrolling interests and equity — — — — — — — (19 ) (19 ) Net income — — — — — 224,412 — (456 ) 223,956 Foreign currency translation adjustment, net of tax of $0 — — — — — — (197,143 ) 471 (196,672 ) Unrealized gain on derivatives, net of tax of $0 — — — — — — 10,126 — 10,126 Balance at June 30, 2018 91,614 $ 366 132,416 $ 530 $ 3,698,822 $ (548,615 ) $ (1,026,339 ) $ (9,658 ) $ 2,115,106 Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at June 30, 2018 91,614 $ 366 132,416 $ 530 $ 3,698,822 $ (548,615 ) $ (1,026,339 ) $ (9,658 ) $ 2,115,106 Non-cash stock compensation — — — — 6,561 — — — 6,561 Conversion of Class B shares to Class A shares 29 — (29 ) — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 11 — — — — — — — — Accretion of redeemable noncontrolling interests and equity — — — — 324 — — — 324 Reclassification of redeemable noncontrolling interests and equity — — — — — — — (328 ) (328 ) Net loss — — — — — (94,789 ) — (1,895 ) (96,684 ) Foreign currency translation adjustment, net of tax of $0 — — — — — — (52,961 ) 211 (52,750 ) Unrealized loss on derivatives, net of tax of $0 — — — — — — (560 ) — (560 ) Balance at September 30, 2018 91,654 $ 366 132,387 $ 530 $ 3,705,707 $ (643,404 ) $ (1,079,860 ) $ (11,670 ) $ 1,971,669 The components of net changes in stockholders' equity for the fiscal quarters of 2019 are as follows: Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Treasury stock at cost Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at December 31, 2018 107,450 $ 430 116,865 $ 467 $ 3,703,796 $ (530,919 ) $ (1,112,695 ) $ — $ (10,133 ) $ 2,050,946 Adoption of accounting standards — — — — — 28,944 — — — 28,944 Balance at January 1, 2019 107,450 430 116,865 467 3,703,796 (501,975 ) (1,112,695 ) — (10,133 ) 2,079,890 Non-cash stock compensation — — — — 3,149 — — — — 3,149 Conversion of Class B shares to Class A shares 8 — (8 ) — — — — — — — Vesting of restricted stock, net of shares withheld to satisfy tax withholding 325 1 — — (1,421 ) — — — — (1,420 ) Distributions to noncontrolling interest holders — — — — — — — — (625 ) (625 ) Accretion of redeemable noncontrolling interests and equity — — — — 263 — — — — 263 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 224 224 Net income — — — — — 191,243 — — 3,022 194,265 Foreign currency translation adjustment, net of tax of $0 — — — — — — 49,521 — 30 49,551 Unrealized gain on derivatives, net of tax of $0 — — — — — — 2,609 — — 2,609 Balance at March 31, 2019 107,783 $ 431 116,857 $ 467 $ 3,705,787 $ (310,732 ) $ (1,060,565 ) $ — $ (7,482 ) $ 2,327,906 Non-cash stock compensation — — — — 4,854 — — — — 4,854 Conversion of Class B shares to Class A shares 10,991 44 (10,991 ) (44 ) — — — — — — Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 32 — — — 170 — — — — 170 Distributions to noncontrolling interest holders — — — — — — — — (731 ) (731 ) Change in noncontrolling interests — — — — (3,700 ) — — — — (3,700 ) Accretion of redeemable noncontrolling interests and equity — — — — 194 — — — — 194 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — (855 ) (855 ) Net income — — — — — 781,592 — — (1,976 ) 779,616 Foreign currency translation adjustment, net of tax of $0 — — — — — — 10,275 — (87 ) 10,188 Unrealized loss on derivatives, net of tax of $0 — — — — — — (10,559 ) — — (10,559 ) Balance at June 30, 2019 118,806 $ 475 105,866 $ 423 $ 3,707,305 $ 470,860 $ (1,060,849 ) $ — $ (11,131 ) $ 3,107,083 Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital (Accumulated deficit) retained earnings Accumulated other comprehensive (loss) income Treasury stock at cost Non-controlling interests Total stockholders' equity Shares Amount Shares Amount Balance at June 30, 2019 118,806 $ 475 105,866 $ 423 $ 3,707,305 $ 470,860 $ (1,060,849 ) $ — $ (11,131 ) $ 3,107,083 Non-cash stock compensation — — — — 1,578 — — — — 1,578 Conversion of Class B shares to Class A shares 15,002 60 (15,002 ) (60 ) — — — — — — Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 96 — — — 1,455 — — — — 1,455 Purchases of treasury stock at cost (6,150 ) — — — — — — (104,849 ) — (104,849 ) Accretion of redeemable noncontrolling interests and equity — — — — (193 ) — — — — (193 ) Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 649 649 Net loss — — — — — (95,226 ) — — (1,568 ) (96,794 ) Foreign currency translation adjustment, net of tax of $0 — — — — — — (82,070 ) — (510 ) (82,580 ) Minimum pension liability adjustment, net of tax of $0 — — — — — — 4,531 — — 4,531 Balance at September 30, 2019 127,754 $ 535 90,864 $ 363 $ 3,710,145 $ 375,634 $ (1,138,388 ) $ (104,849 ) $ (12,560 ) $ 2,830,880
Schedule of accumulated other comprehensive income (loss)	The components of these balances were as follows: September 30, 2019 December 31, 2018 Laureate Education, Inc. Noncontrolling Interests Total Laureate Education, Inc. Noncontrolling Interests Total Foreign currency translation adjustment $ (1,149,993 ) $ (108 ) $ (1,150,101 ) $ (1,127,719 ) $ 459 $ (1,127,260 ) Unrealized gain on derivatives 10,416 — 10,416 18,366 — 18,366 Minimum pension liability adjustment 1,189 — 1,189 (3,342 ) — (3,342 ) Accumulated other comprehensive loss $ (1,138,388 ) $ (108 ) $ (1,138,496 ) $ (1,112,695 ) $ 459 $ (1,112,236 )

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of fair value of derivatives instruments	The reported fair values of our derivatives, which are classified in Prepaid expenses and other current assets and Derivative instruments on our Consolidated Balance Sheets, were as follows: September 30, 2019 December 31, 2018 Derivatives designated as hedging instruments: Long-term assets: Net investment cross currency swaps $ — $ 3,259 Derivatives not designated as hedging instruments: Current assets: Cross currency swaps 295 — Current liabilities: Cross currency swaps 11 4,021 Long-term liabilities: Cross currency and interest rate swaps — 6,656 Total derivative instrument assets $ 295 $ 3,259 Total derivative instrument liabilities $ 11 $ 10,677
Summary of unrealized gain (loss) recorded in and reclassified from accumulated comprehensive income (loss)	The table below shows the total recorded unrealized (loss) gain in Comprehensive income for the derivatives designated as hedging instruments. The impact of these derivative instruments on Comprehensive income, Interest expense and AOCI were as follows: For the three months ended September 30: (Loss) Gain Recognized in Comprehensive Income (Effective Portion) Income Statement Location Gain Reclassified Total Consolidated Interest Expense 2019 2018 2019 2018 2019 2018 Cash flow hedge Interest rate swaps $ — $ (1,938 ) Interest expense $ — $ 950 Net investment hedge Cross currency swaps — 1,378 N/A — — Total $ — $ (560 ) $ — $ 950 $ (40,319 ) $ (58,319 ) For the nine months ended September 30: (Loss) Gain Recognized in Comprehensive Income Income Statement Location Gain Reclassified Total Consolidated Interest Expense 2019 2018 2019 2018 2019 2018 Cash flow hedge Interest rate swaps $ (11,818 ) $ 7,307 Interest expense $ 11,818 $ 912 Net investment hedge Cross currency swaps 3,868 4,469 N/A — — Total $ (7,950 ) $ 11,776 $ 11,818 $ 912 $ (136,438 ) $ (181,746 )
Components of the reported gain (loss) on derivatives not designated as hedging instruments	Components of the reported Gain on derivatives not designated as hedging instruments in the Consolidated Statements of Operations were as follows: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Unrealized Gain (Loss) Contingent redemption features - Series A Preferred Stock $ — $ — $ — $ (42,140 ) Cross currency and interest rate swaps 284 33 4,305 4,391 Interest rate swaps — 36 — 138 284 69 4,305 (37,611 ) Realized (Loss) Gain Contingent redemption features - Series A Preferred Stock — — — 140,320 Cross currency and interest rate swaps — (213 ) 3,794 (10,597 ) — (213 ) 3,794 129,723 Total Gain (Loss) Contingent redemption features - Series A Preferred Stock — — — 98,180 Cross currency and interest rate swaps 284 (180 ) 8,099 (6,206 ) Interest rate swaps — 36 — 138 Gain (loss) on derivatives, net $ 284 $ (144 ) $ 8,099 $ 92,112

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following tables summarize the computations of basic and diluted earnings (loss) per share: For the three months ended September 30, 2019 2018 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (28,526 ) $ (40,353 ) Net (income) loss attributable to noncontrolling interests (12 ) 12 Loss from continuing operations attributable to Laureate Education, Inc. (28,538 ) (40,341 ) Accretion of redemption value of redeemable noncontrolling interests and equity (193 ) 324 Net loss from continuing operations available to common stockholders for basic and diluted earnings (loss) per share (28,731 ) (40,017 ) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Loss from discontinued operations, net of tax $ (27,137 ) $ (37,905 ) Loss on sales of discontinued operations, net of tax (41,131 ) (18,426 ) Loss attributable to noncontrolling interests 1,580 1,883 Net loss from discontinued operations for basic and diluted earnings (loss) per share $ (66,688 ) $ (54,448 ) Denominator used in basic and diluted earnings (loss) per common share: Basic and diluted weighted average shares outstanding 224,193 224,037 Basic and diluted loss per share: Loss from continuing operations $ (0.13 ) $ (0.18 ) Loss from discontinued operations (0.30 ) (0.24 ) Basic and diluted loss per share $ (0.43 ) $ (0.42 ) For the nine months ended September 30, 2019 2018 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (37,775 ) $ (36,641 ) Net income attributable to noncontrolling interests (61 ) (78 ) Loss from continuing operations attributable to Laureate Education, Inc. (37,836 ) (36,719 ) Accretion of redemption value of redeemable noncontrolling interests and equity 264 1,130 Adjusted for: accretion related to noncontrolling interests and equity redeemable at fair value — (559 ) Accretion of Series A Preferred Stock — (61,974 ) Gain upon conversion of Series A Preferred Stock — 74,110 Subtotal: accretion of other redeemable noncontrolling interests and equity and Series A Preferred Stock, net 264 12,707 Net loss available to common stockholders for basic earnings (loss) per share $ (37,572 ) $ (24,012 ) Adjusted for: accretion of Series A Preferred Stock — 61,974 Adjusted for: gain upon conversion of Series A Preferred Stock — (74,110 ) Net loss from continuing operations available to common stockholders for diluted earnings (loss) per share $ (37,572 ) $ (36,148 ) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Income from discontinued operations, net of tax $ 66,472 $ 23,551 Gain on sales of discontinued operations, net of tax 848,390 311,904 Loss (income) attributable to noncontrolling interests 583 (237 ) Net income from discontinued operations for basic and diluted earnings (loss) per share $ 915,445 $ 335,218 Denominator used in basic and diluted earnings (loss) per common share: Basic and diluted weighted average shares outstanding 224,498 209,129 Basic earnings (loss) per share: Loss from continuing operations $ (0.17 ) $ (0.11 ) Income from discontinued operations 4.08 1.60 Basic earnings per share $ 3.91 $ 1.49 Diluted earnings (loss) per share: Loss from continuing operations $ (0.17 ) $ (0.17 ) Income from discontinued operations 4.08 1.60 Diluted earnings per share $ 3.91 $ 1.43
Schedule of antidilutive securities excluded from computation of earnings per share	The following table summarizes the number of stock options, shares of restricted stock and restricted stock units (RSUs) that were excluded from the diluted EPS calculations because the effect would have been antidilutive: For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Stock options 8,650 9,328 8,956 9,628 Restricted stock and RSUs 733 931 854 1,034

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of financial assets and liabilities measured at fair value on a recurring basis	Laureate’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2019 were as follows: Total Level 1 Level 2 Level 3 Assets Derivative instruments $ 295 $ — $ — $ 295 Liabilities Derivative instruments $ 11 $ — $ — $ 11 Laureate’s financial assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2018 were as follows: Total Level 1 Level 2 Level 3 Assets Derivative instruments $ 3,259 $ — $ — $ 3,259 Liabilities Derivative instruments $ 10,677 $ — $ — $ 10,677
Summary of the change in Level 3 derivatives instruments	The changes in our Level 3 Derivative instruments measured at fair value on a recurring basis for the nine months ended September 30, 2019 were as follows: Balance at December 31, 2018 $ (7,418 ) Gain included in earnings: Unrealized gains, net 4,305 Realized gains, net 3,794 Included in other comprehensive income (7,950 ) Settlements (4,634 ) Reclassification, currency translation adjustment and other 12,187 Balance at September 30, 2019 $ 284
Fair value inputs, assets, quantitative information	The following table presents quantitative information regarding the significant unobservable inputs and valuation techniques utilized in the fair value measurements of the Company's assets/(liabilities) classified as Level 3 as of September 30, 2019 : Fair Value at September 30, 2019 Valuation Technique Unobservable Input Range/Input Value Derivative instruments - cross currency swaps $ 284 Discounted Cash Flow Credit Risk 3.50%

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of cash and cash equivalents	The September 30, 2019 and September 30, 2018 balances sum to the amounts shown in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018 : September 30, 2019 September 30, 2018 December 31, 2018 Cash and cash equivalents $ 323,930 $ 384,980 $ 387,780 Restricted cash 183,819 191,281 195,792 Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows $ 507,749 $ 576,261 $ 583,572
Schedule of restricted cash	The September 30, 2019 and September 30, 2018 balances sum to the amounts shown in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018 : September 30, 2019 September 30, 2018 December 31, 2018 Cash and cash equivalents $ 323,930 $ 384,980 $ 387,780 Restricted cash 183,819 191,281 195,792 Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows $ 507,749 $ 576,261 $ 583,572

Significant Accounting Polici_4

Significant Accounting Policies - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Revenues, by segment:
Revenues	$ 773,699			$ 778,255			$ 2,367,174	$ 2,397,762
Depreciation and amortization							146,284	189,961
Operating income (loss), by segment:
Operating income	45,730			28,996			170,866	149,389
Net income	(96,794)	$ 779,616	$ 194,265	(96,684)	$ 223,956	$ 171,545	877,087	298,814
Net (loss) income attributable to Laureate Education, Inc.	(95,226)			(94,789)			877,609	298,499
Balance Sheets data:
Cash and cash equivalents	323,930			384,980			323,930	384,980	$ 387,780
Current assets held for sale	131,606						131,606		337,686
Other current assets	668,663						668,663		491,667
Total current assets	1,124,199						1,124,199		1,217,133
Goodwill	1,677,392						1,677,392		1,707,089
Tradenames	1,116,189						1,116,189		1,126,244
Other intangible assets, net	1,697						1,697		25,429
Operating lease right-of-use assets, net	871,746						871,746		0
Long-term assets held for sale	448,573						448,573		1,035,197
Other long-term assets	1,584,917						1,584,917		1,658,544
Total assets	6,824,713						6,824,713		6,769,636
Current liabilities held for sale	136,634						136,634		321,520
Other current liabilities	1,239,574						1,239,574		868,567
Long-term operating leases, less current portion	800,828						800,828
Long-term liabilities held for sale	158,501						158,501		358,863
Long-term debt and other long-term liabilities	1,646,352						1,646,352		3,155,344
Total liabilities	3,981,889						3,981,889		4,704,294
Total stockholders' equity	2,830,880	$ 3,107,083	$ 2,327,906	1,971,669	$ 2,115,106	$ 1,767,473	2,830,880	1,971,669	2,050,946	$ 1,587,282
Total stockholders' equity attributable to Laureate Education, Inc.	2,843,440						2,843,440		2,061,079
Brazil
Balance Sheets data:
Goodwill	378,591						378,591		406,452
Mexico
Balance Sheets data:
Goodwill	508,362						508,362		498,219
Andean
Balance Sheets data:
Goodwill	245,893						245,893		254,259
Variable Interest Entity, Primary Beneficiary
Balance Sheets data:
Cash and cash equivalents	163,413						163,413		158,387
Current assets held for sale	17,586						17,586		183,880
Other current assets	233,477						233,477		141,346
Total current assets	414,476						414,476		483,613
Goodwill	162,833						162,833		168,473
Tradenames	63,731						63,731		66,929
Other intangible assets, net	0						0		0
Operating lease right-of-use assets, net	69,934						69,934
Long-term assets held for sale	69,603						69,603		165,087
Other long-term assets	272,957						272,957		312,711
Total assets	1,053,534						1,053,534		1,196,813
Current liabilities held for sale	12,337						12,337		101,320
Other current liabilities	209,573						209,573		106,657
Long-term operating leases, less current portion	59,948						59,948
Long-term liabilities held for sale	30,833						30,833		42,265
Long-term debt and other long-term liabilities	31,610						31,610		24,502
Total liabilities	344,301						344,301		274,744
Total stockholders' equity	709,233						709,233		922,069
Total stockholders' equity attributable to Laureate Education, Inc.	709,233						709,233		921,747
Operating Segments | Brazil
Revenues, by segment:
Revenues	114,055			121,089			421,129	469,480
Balance Sheets data:
Total assets	1,072,447						1,072,447		1,011,391
Operating Segments | Mexico
Revenues, by segment:
Revenues	145,790			148,325			464,709	463,868
Balance Sheets data:
Total assets	1,284,743						1,284,743		971,309
Operating Segments | Andean
Revenues, by segment:
Revenues	307,270			299,613			869,207	844,213
Balance Sheets data:
Total assets	1,922,829						1,922,829		$ 1,608,406
Operating Segments | Variable Interest Entity, Primary Beneficiary
Revenues, by segment:
Revenues	120,746			119,888			325,668	325,512
Depreciation and amortization	6,521			6,163			19,507	19,398
Operating income (loss), by segment:
Operating income	23,561			12,817			40,629	7,309
Net income	25,510			18,812			43,094	22,860
Net (loss) income attributable to Laureate Education, Inc.	25,510			18,812			43,094	22,860
Operating Segments | Variable Interest Entity, Primary Beneficiary | Brazil
Revenues, by segment:
Revenues	0			0			0	0
Operating income (loss), by segment:
Operating income	81			(16)			46	(56)
Operating Segments | Variable Interest Entity, Primary Beneficiary | Mexico
Revenues, by segment:
Revenues	0			4			0	89
Operating income (loss), by segment:
Operating income	(96)			(121)			(292)	(349)
Operating Segments | Variable Interest Entity, Primary Beneficiary | Andean
Revenues, by segment:
Revenues	120,746			119,884			325,668	325,423
Operating income (loss), by segment:
Operating income	23,576			12,954			40,875	7,714
Other operations
Operating income (loss), by segment:
Operating income	45,730			28,996			170,866	149,389
Net (loss) income attributable to Laureate Education, Inc.	33,432			21,564			687,966	241,920
Corporate and eliminations
Operating income (loss), by segment:
Net (loss) income attributable to Laureate Education, Inc.	$ (154,168)			$ (135,165)			$ 146,549	$ 33,719

Significant Accounting Polici_5

Significant Accounting Policies - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 871,746		$ 0
Present value of lease liabilities	892,747
Direct costs of leased and rented property or equipment	$ 13,000
Cumulative effect on retained earnings, net of tax			28,944	$ 5,074
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on retained earnings, net of tax			$ 28,944	$ 5,074
Retained Earnings | ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on retained earnings, net of tax		$ 28,944

Revenue - Schedule of Component

Revenue - Schedule of Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 773,699	$ 778,255	$ 2,367,174	$ 2,397,762
Percent of net revenues	100.00%	100.00%	100.00%	100.00%
Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	$ 909,545	$ 897,438	$ 2,821,327	$ 2,809,930
Percent of net revenues	118.00%	115.00%	119.00%	117.00%
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 66,292	$ 60,819	$ 185,638	$ 174,136
Percent of net revenues	9.00%	8.00%	8.00%	7.00%
Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 975,837	$ 958,257	$ 3,006,965	$ 2,984,066
Percent of net revenues	126.00%	123.00%	127.00%	124.00%
Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	$ 202,138	$ 180,002	$ 639,791	$ 586,304
Percent of net revenues	(26.00%)	(23.00%)	(27.00%)	(24.00%)
Operating Segments | Brazil
Disaggregation of Revenue [Line Items]
Revenue	$ 114,055	$ 121,089	$ 421,129	$ 469,480
Operating Segments | Brazil | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	200,876	196,670	735,889	741,945
Operating Segments | Brazil | Other
Disaggregation of Revenue [Line Items]
Revenue	2,384	2,272	6,751	7,974
Operating Segments | Brazil | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	203,260	198,942	742,640	749,919
Operating Segments | Brazil | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	89,205	77,853	321,511	280,439
Operating Segments | Mexico
Disaggregation of Revenue [Line Items]
Revenue	145,790	148,325	464,709	463,868
Operating Segments | Mexico | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	156,123	158,602	499,013	499,876
Operating Segments | Mexico | Other
Disaggregation of Revenue [Line Items]
Revenue	27,539	23,676	75,201	68,905
Operating Segments | Mexico | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	183,662	182,278	574,214	568,781
Operating Segments | Mexico | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	37,872	33,953	109,505	104,913
Operating Segments | Andean
Disaggregation of Revenue [Line Items]
Revenue	307,270	299,613	869,207	844,213
Operating Segments | Andean | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	322,918	312,274	909,292	889,290
Operating Segments | Andean | Other
Disaggregation of Revenue [Line Items]
Revenue	23,767	22,594	62,377	59,523
Operating Segments | Andean | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	346,685	334,868	971,669	948,813
Operating Segments | Andean | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	39,415	35,255	102,462	104,600
Operating Segments | Rest of World
Disaggregation of Revenue [Line Items]
Revenue	52,585	47,701	137,204	131,412
Operating Segments | Rest of World | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	56,277	49,829	145,143	137,138
Operating Segments | Rest of World | Other
Disaggregation of Revenue [Line Items]
Revenue	1,720	2,204	5,662	6,652
Operating Segments | Rest of World | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	57,997	52,033	150,805	143,790
Operating Segments | Rest of World | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	5,412	4,332	13,601	12,378
Operating Segments | Online & Partnerships
Disaggregation of Revenue [Line Items]
Revenue	155,501	165,221	476,991	498,207
Operating Segments | Online & Partnerships | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	173,351	180,063	531,990	541,681
Operating Segments | Online & Partnerships | Other
Disaggregation of Revenue [Line Items]
Revenue	12,384	13,767	37,713	40,500
Operating Segments | Online & Partnerships | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	185,735	193,830	569,703	582,181
Operating Segments | Online & Partnerships | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	30,234	28,609	92,712	83,974
Corporate
Disaggregation of Revenue [Line Items]
Revenue	(1,502)	(3,694)	(2,066)	(9,418)
Corporate | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Corporate | Other
Disaggregation of Revenue [Line Items]
Revenue	(1,502)	(3,694)	(2,066)	(9,418)
Corporate | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	(1,502)	(3,694)	(2,066)	(9,418)
Corporate | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	$ 0	$ 0	$ 0	$ 0

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Accounts and notes receivable	$ 533,000	$ 373,855
Deferred revenue and student deposits, current	464,340	$ 193,226
Revenue recognized	$ 175,611

Discontinued Operations and A_3

Discontinued Operations and Assets Held for Sale - Narrative (Details)	Sep. 30, 2019institution
Discontinued Operations and Disposal Groups [Abstract]
Number of discontinued VIE institution	1

Discontinued Operations and A_4

Discontinued Operations and Assets Held for Sale - Summarized operating results of the Discontinued Operations (Details) - Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 65,316	$ 160,278	$ 446,002	$ 673,975
Depreciation and amortization	339	6,991	1,176	28,776
Share-based compensation expense	119	173	387	920
Loss on impairment of assets	25,000	0	25,000	0
Other direct costs	64,681	188,284	343,317	561,528
Operating income (loss)	(24,823)	(35,170)	76,122	82,751
Other non-operating income (loss)	(252)	(5,674)	6,276	(18,794)
Pretax income (loss) of discontinued operations	(25,075)	(40,844)	82,398	63,957
Income tax (expense) benefit	(2,062)	2,939	(15,926)	(40,406)
Income (loss) from discontinued operations, net of tax	$ (27,137)	$ (37,905)	66,472	23,551
Operating cash flows of discontinued operations			45,237	155,367
Investing cash flows of discontinued operations			(16,007)	(40,043)
Financing cash flows of discontinued operations			$ (44,984)	$ (17,306)

Discontinued Operations and A_5

Discontinued Operations and Assets Held for Sale - Summary of Major Classes of Assets and Liabilities Reclassified to Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets of Discontinued Operations
Subtotal: assets of Discontinued Operations	$ 580,179	$ 1,372,883
Liabilities of Discontinued Operations
Total liabilities held for sale	295,135	680,383
Discontinued operations
Assets of Discontinued Operations
Cash and cash equivalents	62,194	215,644
Receivables, net	42,277	62,576
Property and equipment, net	259,884	671,121
Goodwill	9,613	131,329
Tradenames	6,893	124,932
Operating lease right-of-use assets, net	66,673
Other assets	61,056	106,326
Subtotal: assets of Discontinued Operations	508,590	1,311,928
Liabilities of Discontinued Operations
Deferred revenue and student deposits	53,885	115,969
Operating leases, including current portion	71,411
Long-term debt and finance leases, including current portion	56,054	279,612
Other liabilities	91,094	269,558
Total liabilities held for sale	272,444	665,139
Assets classified as held for sale
Assets of Discontinued Operations
Subtotal: assets of Discontinued Operations	71,589	60,955
UniNorte Brazil | Assets classified as held for sale
Assets of Discontinued Operations
Receivables, net	6,969	6,983
Property and equipment, net	13,193	16,726
Goodwill	14,083	15,165
Tradenames	7,565	8,146
Operating lease right-of-use assets, net	15,244
Other assets	6,161	13,935
Liabilities of Discontinued Operations
Deferred revenue and student deposits	1,768	469
Operating leases, including current portion	10,119
Long-term debt and finance leases, including current portion	2,250	5,370
Other liabilities	8,554	9,405
Total liabilities held for sale	22,691	15,244
Other Land And Buildings | Assets classified as held for sale
Assets of Discontinued Operations
Property and equipment, net	$ 8,374	$ 0

Discontinued Operations and A_6

Discontinued Operations and Assets Held for Sale - Sales Agreements (Details) R$ in Thousands, $ in Thousands	Jun. 14, 2019USD ($)	Apr. 16, 2019BRL (R$)	Sep. 30, 2019USD ($)campus
Sodecam - Sociedade De Desenvolvimento Cultural Do Amazonas Ltda | Assets classified as held for sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent of ownership disposed of		100.00%
Consideration received from dispositions		R$ 194800	$ 46,600
Accounts payable disposed of		R$ 9800	$ 2,300
Exeter Street Holdings, LLC | Assets classified as held for sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percent of ownership disposed of	100.00%
Consideration received from dispositions | $	$ 5,800
Affiliated Entity | INTI Education Holdings Sdn Bhd | MALAYSIA
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of campuses | campus			5

Dispositions (Details)

Dispositions (Details) € in Thousands, R in Thousands, $ in Thousands, $ in Thousands

Aug. 27, 2019USD ($)

May 31, 2019USD ($)

May 09, 2019USD ($)

Apr. 08, 2019USD ($)

Feb. 12, 2019USD ($)campus

Feb. 01, 2019USD ($)

Jan. 25, 2018USD ($)

Jan. 25, 2018HKD ($)

Mar. 31, 2019USD ($)

Sep. 30, 2019USD ($)

May 31, 2019EUR (€)

Apr. 08, 2019ZAR (R)

Dec. 31, 2018USD ($)

Sep. 30, 2018USD ($)

Dec. 31, 2017USD ($)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash and restricted cash

$ 507,749

$ 583,572

$ 576,261

$ 525,745

St. Augustine | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

$ 400,000

LEI Lie Ying Limited | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sale of business

$ 13,700

Proceeds from second holdback payment

$ 9,100

$ 71,463

Amounts of material contingent liabilities remaining

$ 14,300

Receivables from sale of business, noncurrent

$ 25,900

$ 25,900

Monash South Africa (MSA) | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

$ 1,100

R 15,000

Accounts payable disposed of

$ 20,200

Ownership percent

75.00%

Laureate South Africa Pty Ltd (LSA) | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

$ 7,000

R 99,000

Monash South Africa Limited And LEI AMEA Investments B.V. | Disposal Group, Disposed of by Sale, Not Discontinued Operations

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

9,000

Exeter Street Holdings, LLC | St. Augustine | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

346,400

Other current assets disposed of

11,700

Accounts payable disposed of

58,100

Other current liabilities

7,200

Net proceeds from dispositions

301,800

Gain (loss) on sale of business

$ 223,000

LEI Singapore Holdings Pte Limited, Laureate I B.V.,Laureate International B.V. | Pearl Retail Solutions Private Limited | Discontinued Operations, Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

$ 145,600

Other current assets disposed of

145,800

Net proceeds from dispositions

$ 77,300

Ownership percent

10.00%

Iniciativas Culturales de Espãna S.L., (“ICE”), and Laureate I B.V | Affiliated Entity

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

$ 906,000

Net proceeds from dispositions

760,000

Gain (loss) on sale of business

615,000

Tax benefit from disposition

30,000

Iniciativas Culturales de Espãna S.L., (“ICE”), and Laureate I B.V | Ensilis—Educação e Formação, Unipessoal, Lda | Discontinued Operations, Held-for-sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

857,000

€ 770,000

Accounts payable disposed of

109,000

Laureate I B.V. | Education Turkey B.V. | Affiliated Entity | Discontinued Operations, Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

$ 90,000

Proceeds from sale of business

75,000

Gain (loss) on sale of business

(37,000)

Debt assumed

$ 15,000

Ownership percent

100.00%

Bilgi Egitim Ve Kultur Vakfi (Bilgi Foundation)

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cash and restricted cash

$ 89,000

Stamford International University | China YuHua Education Investment Limited

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

$ 35,300

Number of campuses | campus

3

Stamford International University | China YuHua Education Investment Limited | Affiliated Entity

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration received from dispositions

2,800

Debt assumed

$ 1,400

$ 4,200

Stamford International University | LEI Singapore | Affiliated Entity

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

22,200

Net proceeds from dispositions

18,800

Gain (loss) on sale of business

$ 2,300

10,800

Net of debt assumed by purchaser

$ 26,400

Stamford International University | LEI Singapore Holdings Pte Limited, Laureate I B.V.,Laureate International B.V. | Affiliated Entity

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain (loss) on sale of business

$ 19,500

Due to Shareholders of Acquir_3

Due to Shareholders of Acquired Companies - Summary of Amounts Due to Shareholders of Acquired Companies (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Total due to shareholders of acquired companies	$ 21,458	$ 45,391
Less: Current portion of due to shareholders of acquired companies	11,502	23,820
Due to shareholders of acquired companies, less current portion	9,956	21,571
Universidade Anhembi Morumbi (UAM Brazil)
Business Acquisition [Line Items]
Total due to shareholders of acquired companies	20,145	30,912
Faculdade Porto-Alegrense (FAPA)
Business Acquisition [Line Items]
Total due to shareholders of acquired companies	$ 1,096	1,141
Interest Rate %	3.00%
IADE Group
Business Acquisition [Line Items]
Total due to shareholders of acquired companies	$ 217	1,943
University of St. Augustine for Health Sciences, LLC (St. Augustine)
Business Acquisition [Line Items]
Total due to shareholders of acquired companies	$ 0	$ 11,395
Interest Rate %	7.00%
Notes Payable, Related Party | Universidade Anhembi Morumbi (UAM Brazil) | Certificados de Depósitos Interbancários (CDI)
Business Acquisition [Line Items]
Basis spread on variable rate	2.00%

Business and Geographic Segme_3

Business and Geographic Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2019campuseducational_institutionstatelicensed_institutionsegment
Segment Reporting Information [Line Items]
Number of operating segments (segment) | segment	6
Brazil
Segment Reporting Information [Line Items]
Number of students attending post secondary education In a private educational institutions, percent	75.00%
Number of postsecondary educational institutions (educational institution) | educational_institution	13
Number of states in which entity operates (state) | state	8
Mexico
Segment Reporting Information [Line Items]
Number of postsecondary educational institutions (educational institution) | educational_institution	2
Number of campuses of postsecondary educational institutions (campus) | campus	40
Chile
Segment Reporting Information [Line Items]
Number of students attending post secondary education In a private educational institutions, percent	80.00%
Asia Pacific
Segment Reporting Information [Line Items]
Number of licensed institutions managed through joint venture arrangements (licensed institution) | licensed_institution	1
Saudi Arabia
Segment Reporting Information [Line Items]
Number of licensed institutions managed through joint venture arrangements (licensed institution) | licensed_institution	8

Business and Geographic Segme_4

Business and Geographic Segment Information - Schedule of Segment Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 773,699	$ 778,255	$ 2,367,174	$ 2,397,762
Reconciling items:
Loss on impairment of assets	0	(10,030)	(25,470)	(10,030)
Share-based compensation expense	(1,578)	(6,561)	(9,581)	(10,492)
Operating income	45,730	28,996	170,866	149,389
Interest income	3,154	3,502	9,552	9,358
Interest expense	(40,319)	(58,319)	(136,438)	(181,746)
Loss on debt extinguishment	(200)	0	(26,417)	(7,481)
Gain (loss) on derivatives	284	(144)	8,099	92,112
Other income, net	1,038	8,312	9,138	10,815
Foreign currency exchange loss, net	(14,777)	(26,443)	(10,643)	(43,959)
Loss on disposal of subsidiaries	(1,474)	0	(1,474)	0
(Loss) income from continuing operations before income taxes and equity in net income of affiliates	(6,564)	(44,096)	22,683	28,488
Corporate
Segment Reporting Information [Line Items]
Revenues	(1,502)	(3,694)	(2,066)	(9,418)
Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Adjusted EBITDA of reportable segments	174,577	168,778	520,865	518,035
Reconciling items:
Corporate	(40,827)	(45,562)	(117,895)	(127,567)
Depreciation and amortization expense	(48,557)	(52,806)	(145,108)	(161,185)
Loss on impairment of assets	0	(10,030)	(470)	(10,030)
Share-based compensation expense	(1,459)	(6,388)	(9,194)	(9,572)
EiP expenses	(38,004)	(24,996)	(77,332)	(60,292)
Operating income	45,730	28,996	170,866	149,389
Interest income	3,154	3,502	9,552	9,358
Interest expense	(40,319)	(58,319)	(136,438)	(181,746)
Loss on debt extinguishment	(200)	0	(26,417)	(7,481)
Gain (loss) on derivatives	284	(144)	8,099	92,112
Other income, net	1,038	8,312	9,138	10,815
Foreign currency exchange loss, net	(14,777)	(26,443)	(10,643)	(43,959)
Loss on disposal of subsidiaries	(1,474)	0	(1,474)	0
Brazil | Operating Segments
Segment Reporting Information [Line Items]
Revenues	114,055	121,089	421,129	469,480
Brazil | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Adjusted EBITDA of reportable segments	3,134	682	31,334	52,600
Mexico | Operating Segments
Segment Reporting Information [Line Items]
Revenues	145,790	148,325	464,709	463,868
Mexico | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Adjusted EBITDA of reportable segments	23,064	23,715	80,476	81,965
Andean | Operating Segments
Segment Reporting Information [Line Items]
Revenues	307,270	299,613	869,207	844,213
Andean | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Adjusted EBITDA of reportable segments	92,604	90,610	246,095	235,376
Rest of World | Operating Segments
Segment Reporting Information [Line Items]
Revenues	52,585	47,701	137,204	131,412
Rest of World | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Adjusted EBITDA of reportable segments	11,455	8,046	20,205	11,968
Online & Partnerships | Operating Segments
Segment Reporting Information [Line Items]
Revenues	155,501	165,221	476,991	498,207
Online & Partnerships | Segment Reconciling Items
Segment Reporting Information [Line Items]
Total Adjusted EBITDA of reportable segments	$ 44,320	$ 45,725	$ 142,755	$ 136,126

Business and Geographic Segme_5

Business and Geographic Segment Information - Schedule of Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 6,824,713	$ 6,769,636
Operating Segments | Brazil
Segment Reporting Information [Line Items]
Assets	1,072,447	1,011,391
Operating Segments | Mexico
Segment Reporting Information [Line Items]
Assets	1,284,743	971,309
Operating Segments | Andean
Segment Reporting Information [Line Items]
Assets	1,922,829	1,608,406
Operating Segments | Rest of World
Segment Reporting Information [Line Items]
Assets	203,881	196,370
Operating Segments | Online & Partnerships
Segment Reporting Information [Line Items]
Assets	1,227,428	1,308,854
Corporate and Discontinued Operations
Segment Reporting Information [Line Items]
Assets	$ 1,113,385	$ 1,673,306

Goodwill - Summary of Change in

Goodwill - Summary of Change in the Net Carrying Amount of Goodwill (Details) R$ in Thousands, $ in Thousands	1 Months Ended		9 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2019BRL (R$)	Sep. 30, 2019USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2018			$ 1,707,089
Acquisitions	$ 1,333	R$ 5022	1,333
Dispositions			0
Impairments			0
Currency translation adjustments			(31,030)
Adjustments to prior acquisitions			0
Balance at September 30, 2019			1,677,392
Brazil
Goodwill [Roll Forward]
Balance at December 31, 2018			406,452
Acquisitions			1,333
Dispositions			0
Impairments			0
Currency translation adjustments			(29,194)
Adjustments to prior acquisitions			0
Balance at September 30, 2019			378,591
Mexico
Goodwill [Roll Forward]
Balance at December 31, 2018			498,219
Acquisitions			0
Dispositions			0
Impairments			0
Currency translation adjustments			10,143
Adjustments to prior acquisitions			0
Balance at September 30, 2019			508,362
Andean
Goodwill [Roll Forward]
Balance at December 31, 2018			254,259
Acquisitions			0
Dispositions			0
Impairments			0
Currency translation adjustments			(8,366)
Adjustments to prior acquisitions			0
Balance at September 30, 2019			245,893
Rest of World
Goodwill [Roll Forward]
Balance at December 31, 2018			87,419
Acquisitions			0
Dispositions			0
Impairments			0
Currency translation adjustments			(3,613)
Adjustments to prior acquisitions			0
Balance at September 30, 2019			83,806
Online & Partnerships
Goodwill [Roll Forward]
Balance at December 31, 2018			460,740
Acquisitions			0
Dispositions			0
Impairments			0
Currency translation adjustments			0
Adjustments to prior acquisitions			0
Balance at September 30, 2019			$ 460,740

Goodwill - Narrative (Details)

Goodwill - Narrative (Details) R$ in Thousands, $ in Thousands	1 Months Ended		9 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2019BRL (R$)	Sep. 30, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions	$ 1,333	R$ 5022	$ 1,333

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance lease obligations and sale-leaseback financings	$ 99,706
Finance lease obligations and sale-leaseback financings		$ 119,443
Total long-term debt and finance leases	1,345,694	2,782,153
Less: total unamortized deferred financing costs	67,412	88,241
Less: current portion of long-term debt and finance leases	119,932	100,818
Long-term debt and finance leases, less current portion	1,158,350	2,593,094
Senior Notes
Debt Instrument [Line Items]
Total senior and other debt	800,000	800,000
Lines of credit
Debt Instrument [Line Items]
Total senior and other debt	28,850	37,899
Notes payable and other debt
Debt Instrument [Line Items]
Total senior and other debt	358,138	503,182
Senior and other debt
Debt Instrument [Line Items]
Total senior and other debt	1,245,988	2,662,710
Senior Long-term Debt
Debt Instrument [Line Items]
Total senior and other debt	859,000	2,121,629
Secured Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Total senior and other debt	$ 59,000	$ 1,321,629

Debt - Schedule Estimated Fair

Debt - Schedule Estimated Fair Values of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Carrying amount
Debt Instrument [Line Items]
Total senior and other debt	$ 1,245,988	$ 2,662,710
Estimated fair value
Debt Instrument [Line Items]
Total senior and other debt	$ 1,316,988	$ 2,675,684

Debt - Loss on Debt Extinguishm

Debt - Loss on Debt Extinguishment (Details) - USD ($) $ in Thousands	Feb. 01, 2019	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Repayments of notes payable			$ 35,000
Notes payable			$ 51,700
Loss on debt extinguishment		$ 200		$ 0	$ 26,417	$ 7,481
Discontinued Operations, Disposed of by Sale | St. Augustine | Exeter Street Holdings, LLC
Debt Instrument [Line Items]
Proceeds from sale of business	$ 346,400
Revolving Credit Facility and Term Loan
Debt Instrument [Line Items]
Repayments of debt	$ 340,000
Notes payable and other debt | UVM Mexico Loan
Debt Instrument [Line Items]
Debt outstanding		$ 103,000			$ 103,000

Debt - Certain Covenants (Detai

Debt - Certain Covenants (Details) - Second Amended and Restated Credit Agreement	9 Months Ended
	Sep. 30, 2019
Revolving Credit Facility
Debt Instrument [Line Items]
Percentage of utilized line of credit (less than)	25.00%
Lines of credit
Debt Instrument [Line Items]
Maximum debt to consolidated EBITDA ratio	4.75
Lines of credit | Revolving Credit Facility | June 30, 2018 and thereafter
Debt Instrument [Line Items]
Required minimum debt to consolidated EBITDA ratio	3.5

Leases - Additional Information

Leases - Additional Information (Details)	Sep. 30, 2019
Equipment
Lessee, Lease, Description [Line Items]
Term of operating lease contract	60 months

Leases - Leases Assets and Liab

Leases - Leases Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets:
Operating lease assets	$ 871,746	$ 0
Finance lease assets	55,073
Total leased assets	926,819
Current
Operating	91,919
Finance	4,838
Non-current
Operating	800,828
Finance	53,820
Total lease liabilities	$ 951,405

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Sep. 30, 2019
Weighted average remaining lease terms
Operating leases	9 years 4 months 24 days
Finance leases	11 years 10 months 24 days
Weighted average discount rate
Operating leases	9.50%
Finance leases	8.50%

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 42,032	$ 132,546
Finance lease cost
Amortization of leased assets	1,880	4,518
Interest on leased assets	1,264	2,741
Short-term lease costs	810	2,800
Variable lease costs	4,483	11,056
Sublease income	(1,049)	(3,260)
Total lease cost	$ 49,420	$ 150,401

Leases - Schedule of Minimum Le

Leases - Schedule of Minimum Lease Payments and Sublease Income (Details) $ in Thousands	Sep. 30, 2019USD ($)
Operating Leases
Year 1	$ 169,383
Year 2	159,432
Year 3	149,816
Year 4	140,692
Year 5	133,134
Thereafter	571,234
Total lease payments	1,323,691
Less: interest and inflation	(430,944)
Present value of lease liabilities	892,747
Finance Leases
Year 1	9,473
Year 2	9,180
Year 3	8,834
Year 4	8,354
Year 5	6,288
Thereafter	51,095
Total lease payments	93,224
Less: interest and inflation	(34,566)
Present value of lease liabilities	$ 58,658

Leases - Other Information (Det

Leases - Other Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 139,010
Operating cash flows from finance leases	2,742
Financing cash flows from finance leases	3,128
Leased assets obtained for new finance lease liabilities	38,217
Leased assets obtained for new operating lease liabilities	$ 6,394

Leases - Schedule of future min

Leases - Schedule of future minimum lease payments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 151,795
2020	142,995
2021	135,426
2022	128,441
2023	119,955
Thereafter	482,220
Total	$ 1,160,832

Commitments and Contingencies -

Commitments and Contingencies - Noncontrolling Interest Holder Put Agreements and Company Call Arrangements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Redeemable Noncontrolling Interest [Line Items]
Total redeemable noncontrolling interests and equity	$ 11,944	$ 14,396
Puttable non-controlling interest
Redeemable Noncontrolling Interest [Line Items]
Total redeemable noncontrolling interests and equity	10,230
Total noncontrolling interest holder put arrangements	$ 10,230

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Redeemable Noncontrolling Interest [Line Items]
Reported Value	$ 11,944	$ 14,396
INTI Education Holdings Sdn Bhd
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest, noncontrolling owners, ownership percent	10.10%
Puttable common stock | INTI Education Holdings Sdn Bhd
Redeemable Noncontrolling Interest [Line Items]
Estimated Value as of September 30, 2019 redeemable within 12-months	$ 10,230
Reported Value	10,230
Puttable non-controlling interest
Redeemable Noncontrolling Interest [Line Items]
Estimated Value as of September 30, 2019 redeemable within 12-months	10,230
Reported Value	10,230
Puttable common stock - not currently redeemable
Redeemable Noncontrolling Interest [Line Items]
Estimated Value as of September 30, 2019 redeemable within 12-months	0
Reported Value	1,714
Total redeemable noncontrolling interests and equity
Redeemable Noncontrolling Interest [Line Items]
Estimated Value as of September 30, 2019 redeemable within 12-months	10,230
Reported Value	$ 11,944

Commitments and Contingencies_3

Commitments and Contingencies - Other Loss Contingencies (Details) - USD ($)	1 Months Ended	9 Months Ended
	Apr. 30, 2013	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Loss Contingencies [Line Items]
Total increase (decrease) to operating income for adjustments to non-income tax contingencies and indemnification assets		$ (5,196,000)	$ 843,000
Long-term indemnification assets		75,383,000		$ 82,061,000
UAM Brazil
Loss Contingencies [Line Items]
Noncontrolling interest, noncontrolling owners, ownership percent	49.00%
Brazil
Loss Contingencies [Line Items]
Estimate of possible contingency loss (up to)		46,000,000
Pending Litigation
Loss Contingencies [Line Items]
Contingent liabilities recorded		$ 32,130,000		29,000,000
Taxes, Other-Than-Income Tax
Loss Contingencies [Line Items]
Statues of limitations (up to)		10 years
Income Tax Contingencies
Loss Contingencies [Line Items]
Contingent liabilities recorded		$ 53,907,000		64,157,000
Guarantee of Indebtedness of Others | Chile
Loss Contingencies [Line Items]
Loss contingency, noncurrent		34,138,000		28,254,000
Guarantee amount, maximum potential amount of payments		484,000,000		499,000,000
Guarantee Obligations
Loss Contingencies [Line Items]
Percent of shares of company acquired in a business combination, used as a guarantee	49.00%
Other Noncurrent Liabilities | Taxes, Other-Than-Income Tax
Loss Contingencies [Line Items]
Loss contingency, noncurrent		50,644,000		52,880,000
Discontinued Operations, Held-for-sale | Brazil
Loss Contingencies [Line Items]
Lease receivable		18,700,000		19,000,000
Discontinued Operations, Held-for-sale | Pending Litigation
Loss Contingencies [Line Items]
Contingent liabilities recorded		194,000		18,000,000
Discontinued Operations, Held-for-sale | Income Tax Contingencies
Loss Contingencies [Line Items]
Contingent liabilities recorded		7,569,000		14,582,000
Discontinued Operations, Held-for-sale | Other Noncurrent Liabilities | Taxes, Other-Than-Income Tax
Loss Contingencies [Line Items]
Loss contingency, noncurrent		$ 3,259,000		$ 4,999,000

Commitments and Contingencies_4

Commitments and Contingencies - Standby Letters of Credit, Surety Bonds and Other Commitments (Details) € in Thousands	1 Months Ended
	Nov. 30, 2016USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)	Dec. 31, 2018USD ($)
Surety Bond
Debt Instrument [Line Items]
Guarantee amount, maximum potential amount of payments		$ 23,036,000		$ 22,204,000
Cash Collateralized Letter Of Credit - Spain Tax Audits
Debt Instrument [Line Items]
Letters of credit outstanding, amount		5,500,000	€ 5,036	5,036,000
Non-Collateralized Surety Bond - UAM Brazil | Surety Bond
Debt Instrument [Line Items]
Guarantee amount, maximum potential amount of payments	$ 15,300,000
Cost of surety bond	$ 1,400,000
Guarantor obligation, term	P5Y
Kendall College, St. Augustine, Walden University, and NewSchool of Architecture and Design
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 127,000,000		$ 139,000,000

Financing Receivables - Schedul

Financing Receivables - Schedule of Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Financing receivables	$ 33,126		$ 33,126		$ 16,531
Allowance for doubtful accounts	(6,064)	$ (5,876)	(6,064)	$ (5,876)	(6,395)	$ (6,472)
Financing receivables, net of allowances	27,062		27,062		$ 10,136
Financing receivable sold	$ 0	$ 0	$ 0	$ 0

Financing Receivables - Summary

Financing Receivables - Summary of Aging of Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Past Due [Line Items]
Total past due (on non-accrual status)	$ 13,485	$ 11,333
Not past due	19,641	5,198
Total financing receivables	33,126	16,531
Chile
Financing Receivable, Past Due [Line Items]
Total past due (on non-accrual status)	12,836	10,497
Not past due	17,895	4,980
Total financing receivables	30,731	15,477
Other
Financing Receivable, Past Due [Line Items]
Total past due (on non-accrual status)	649	836
Not past due	1,746	218
Total financing receivables	2,395	1,054
Amounts past due less than one year
Financing Receivable, Past Due [Line Items]
Amount past due	10,307	8,262
Amounts past due less than one year | Chile
Financing Receivable, Past Due [Line Items]
Amount past due	9,798	7,618
Amounts past due less than one year | Other
Financing Receivable, Past Due [Line Items]
Amount past due	509	644
Amounts past due one year or greater
Financing Receivable, Past Due [Line Items]
Amount past due	3,178	3,071
Amounts past due one year or greater | Chile
Financing Receivable, Past Due [Line Items]
Amount past due	3,038	2,879
Amounts past due one year or greater | Other
Financing Receivable, Past Due [Line Items]
Amount past due	$ 140	$ 192

Financing Receivables - Allowan

Financing Receivables - Allowance For Credit Losses Rollforward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ (6,395)	$ (6,472)
Charge-offs	1,939	1,375
Recoveries	0	0
Reclassifications	0	0
Provision	(1,891)	(1,215)
Currency adjustments	283	436
Ending balance	(6,064)	(5,876)
Chile
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	(6,108)	(6,107)
Charge-offs	1,438	1,338
Recoveries	0	0
Reclassifications	0	0
Provision	(1,245)	(1,233)
Currency adjustments	280	434
Ending balance	(5,635)	(5,568)
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	(287)	(365)
Charge-offs	501	37
Recoveries	0	0
Reclassifications	0	0
Provision	(646)	18
Currency adjustments	3	2
Ending balance	$ (429)	$ (308)

Financing Receivables - Summa_2

Financing Receivables - Summary of Troubled Debt Restructurings (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)loan	Sep. 30, 2018USD ($)loan
Receivables [Abstract]
Number of Financing Receivable Accounts | loan	358	435
Pre-Modification Balance Outstanding	$ 1,153	$ 1,345
Post-Modification Balance Outstanding	$ 1,020	$ 1,262
Number of Financing Receivable Accounts, subsequent defaults | loan	183	128
Balance at Default, subsequent defaults	$ 415	$ 455

Share-based Compensation - Summ

Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	$ 1,578	$ 6,561	$ 9,581	$ 10,492
Continuing operations
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	1,459	6,388	9,194	9,572
Continuing operations | Stock options, net of estimated forfeitures
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	708	1,932	2,871	(3,333)
Continuing operations | Restricted stock awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	751	4,456	6,323	12,905
Discontinued operations
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	$ 119	$ 173	$ 387	$ 920

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stockholders' Equity (Details) - USD ($) shares in Thousands	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		$ 3,107,083,000	$ 2,327,906,000	$ 2,050,946,000	$ 2,115,106,000	$ 1,767,473,000	$ 1,587,282,000	$ 2,050,946,000	$ 1,587,282,000
Adoption of accounting standards										$ 28,944,000	$ 5,074,000
Balance, adjusted										2,079,890,000	1,592,356,000
Non-cash stock compensation		1,578,000	4,854,000	3,149,000	6,561,000	7,687,000	(3,756,000)
Conversion of Class B shares to Class A shares		0
Vesting of restricted stock, net of shares withheld to satisfy tax withholding		1,455,000	170,000	(1,420,000)		(941,000)	(803,000)
Purchases of treasury stock at cost		(104,849,000)
Distributions to noncontrolling interest holders			(731,000)	(625,000)		(1,473,000)	581,000
Change in noncontrolling interests			(3,700,000)			(2,730,000)	(21,043,000)
Accretion of redeemable noncontrolling interests and equity		(193,000)						0	(61,974,000)
Accretion of Series A Preferred Stock		(193,000)			324,000			264,000	1,130,000
Other						(744,000)
Reclassification of Series A Preferred Stock upon conversion						238,101,000
Reclassification of redeemable noncontrolling interests and equity		649,000	(855,000)	224,000	(328,000)	(19,000)	38,000
Net income (loss)		(96,794,000)	779,616,000	194,265,000	(96,684,000)	223,956,000	171,545,000	877,087,000	298,814,000
Foreign currency translation adjustment, net of tax of $0		(82,580,000)	10,188,000	49,551,000	(52,750,000)	(196,672,000)	83,369,000	(22,841,000)	(166,052,000)
Unrealized gain on derivatives, net of tax of $0					(560,000)	10,126,000	2,210,000		11,776,000
Unrealized loss on derivatives, net of tax of $0		0	(10,559,000)	2,609,000				(7,950,000)
Minimum pension liability adjustment, net of tax of $0		4,531,000			0		376,000	4,531,000	376,000
Balance, end of period	$ 2,830,880,000	2,830,880,000	3,107,083,000	2,327,906,000	1,971,669,000	2,115,106,000	1,767,473,000	2,830,880,000	1,971,669,000
Foreign currency translation adjustment, tax		0	0	0	0	0	0	0	0
Unrealized gain on derivative instruments, tax			0	0
Unrealized gain on derivative instruments, tax					0	0	0		0
Pension adjustment, tax		0			0		0	0	0
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		3,707,305,000	3,705,787,000	3,703,796,000	3,698,822,000	3,383,778,000	3,446,206,000	3,703,796,000	3,446,206,000
Balance, adjusted										3,703,796,000	3,446,206,000
Non-cash stock compensation		1,578,000	4,854,000	3,149,000	6,561,000	7,687,000	(3,756,000)
Vesting of restricted stock, net of shares withheld to satisfy tax withholding		1,455,000	170,000	(1,421,000)		(942,000)	(804,000)
Change in noncontrolling interests			(3,700,000)				(468,000)
Accretion of redeemable noncontrolling interests and equity		(193,000)
Reclassification of Series A Preferred Stock upon conversion						237,957,000
Balance, end of period	3,710,145,000	3,710,145,000	3,707,305,000	3,705,787,000	3,705,707,000	3,698,822,000	3,383,778,000	3,710,145,000	3,705,707,000
(Accumulated deficit) retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		470,860,000	(310,732,000)	(530,919,000)	(548,615,000)	(772,283,000)	(946,236,000)	(530,919,000)	(946,236,000)
Adoption of accounting standards										28,944,000	5,074,000
Balance, adjusted										(501,975,000)	(941,162,000)
Other						(744,000)
Net income (loss)		(95,226,000)	781,592,000	191,243,000	(94,789,000)	224,412,000	168,879,000
Balance, end of period	375,634,000	375,634,000	470,860,000	(310,732,000)	(643,404,000)	(548,615,000)	(772,283,000)	375,634,000	(643,404,000)
Accumulated other comprehensive (loss) income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		(1,060,849,000)	(1,060,565,000)	(1,112,695,000)	(1,026,339,000)	(839,322,000)	(925,556,000)	(1,112,695,000)	(925,556,000)
Balance, adjusted										(1,112,695,000)	(925,556,000)
Foreign currency translation adjustment, net of tax of $0		(82,070,000)	10,275,000	49,521,000	(52,961,000)	(197,143,000)	83,648,000
Unrealized gain on derivatives, net of tax of $0					(560,000)	10,126,000	2,210,000
Unrealized loss on derivatives, net of tax of $0			(10,559,000)	2,609,000
Minimum pension liability adjustment, net of tax of $0		4,531,000					376,000
Balance, end of period	(1,138,388,000)	(1,138,388,000)	(1,060,849,000)	(1,060,565,000)	(1,079,860,000)	(1,026,339,000)	(839,322,000)	(1,138,388,000)	(1,079,860,000)
Treasury stock at cost
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		0	0	0				0
Purchases of treasury stock at cost		(104,849,000)
Balance, end of period	(104,849,000)	(104,849,000)	0	0				(104,849,000)
Non-controlling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		(11,131,000)	(7,482,000)	(10,133,000)	(9,658,000)	(5,451,000)	12,118,000	(10,133,000)	12,118,000
Balance, adjusted										(10,133,000)	12,118,000
Distributions to noncontrolling interest holders			(731,000)	(625,000)		(1,473,000)	581,000
Change in noncontrolling interests						(2,730,000)	(20,575,000)
Reclassification of redeemable noncontrolling interests and equity		649,000	(855,000)	224,000	(328,000)	(19,000)	38,000
Net income (loss)		(1,568,000)	(1,976,000)	3,022,000	(1,895,000)	(456,000)	2,666,000
Foreign currency translation adjustment, net of tax of $0		(510,000)	(87,000)	30,000	211,000	471,000	(279,000)
Balance, end of period	$ (12,560,000)	$ (12,560,000)	$ (11,131,000)	$ (7,482,000)	$ (11,670,000)	$ (9,658,000)	$ (5,451,000)	$ (12,560,000)	$ (11,670,000)
Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)				107,450				107,450
Purchases of treasury stock at cost (in shares)	(5,130)	(6,150)
Purchases of treasury stock at cost	$ (87,921,000)	$ (104,849,000)
Balance of shares outstanding, end of period (in shares)	127,754	127,754						127,754
Class A Common Stock | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)		118,806	107,783	107,450	91,614	55,256	55,052	107,450	55,052
Balance, beginning of period		$ 475,000	$ 431,000	$ 430,000	$ 366,000	$ 221,000	$ 220,000	$ 430,000	$ 220,000
Balance, adjusted										430,000	220,000
Conversion of Class B shares to Class A shares (in shares)		15,002	10,991	8	29	27	59
Conversion of Class B shares to Class A shares		$ 60,000	$ 44,000
Vesting of restricted stock, net of shares withheld to satisfy tax withholding (in shares)		96	32	325	11	188	145
Vesting of restricted stock, net of shares withheld to satisfy tax withholding				$ 1,000		$ 1,000	$ 1,000
Purchases of treasury stock at cost (in shares)		(6,150)
Reclassification of Series A Preferred Stock upon conversion (in shares)						36,143
Reclassification of Series A Preferred Stock upon conversion						$ 144,000
Balance of shares outstanding, end of period (in shares)	127,754	127,754	118,806	107,783	91,654	91,614	55,256	127,754	91,654
Balance, end of period	$ 535,000	$ 535,000	$ 475,000	$ 431,000	$ 366,000	$ 366,000	$ 221,000	$ 535,000	$ 366,000
Class B Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)				116,865				116,865
Balance of shares outstanding, end of period (in shares)	90,864	90,864						90,864
Class B Common Stock | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)		105,866	116,857	116,865	132,416	132,443	132,443	116,865	132,443
Balance, beginning of period		$ 423,000	$ 467,000	$ 467,000	$ 530,000	$ 530,000	$ 530,000	$ 467,000	$ 530,000
Balance, adjusted										$ 467,000	$ 530,000
Conversion of Class B shares to Class A shares (in shares)		(15,002)	(10,991)	(8)	(29)	(27)	(59)
Conversion of Class B shares to Class A shares		$ (60,000)	$ (44,000)
Vesting of restricted stock, net of shares withheld to satisfy tax withholding (in shares)						0	59
Balance of shares outstanding, end of period (in shares)	90,864	90,864	105,866	116,857	132,387	132,416	132,443	90,864	132,387
Balance, end of period	$ 363,000	$ 363,000	$ 423,000	$ 467,000	$ 530,000	$ 530,000	$ 530,000	$ 363,000	$ 530,000
Redeemable noncontrolling interests and equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity			194,000	263,000	324,000	882,000	(76,000)
Redeemable noncontrolling interests and equity | Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity			$ 194,000	$ 263,000	$ 324,000	882,000	(76,000)
Series A Convertible Redeemable Preferred Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity						(74,110,000)
Accretion of Series A Preferred Stock						(4,650,000)
Accretion of Series A Convertible Redeemable Preferred Stock							$ (57,324,000)
Series A Convertible Redeemable Preferred Stock | Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity						$ (74,110,000)

Stockholders' Equity - Stock Re

Stockholders' Equity - Stock Repurchase Program (Details) - USD ($) shares in Thousands	Oct. 14, 2019	Sep. 30, 2019	Sep. 30, 2019	Aug. 08, 2019
Subsidiary, Sale of Stock [Line Items]
Stock issued period value			$ 104,849,000
Common Class A
Subsidiary, Sale of Stock [Line Items]
Amount authorized to be repurchased				$ 150,000,000
Stock repurchased period (in shares)		5,130	6,150
Stock issued period value		$ 87,921,000	$ 104,849,000
Stock repurchase program		$ 16,928,000	$ 16,928,000
Subsequent Event | Common Class A
Subsidiary, Sale of Stock [Line Items]
Amount authorized to be repurchased	$ 300,000,000
Stock repurchase program, period increase	$ 150,000,000

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 2,830,880	$ 3,107,083	$ 2,327,906	$ 2,050,946	$ 1,971,669	$ 2,115,106	$ 1,767,473	$ 1,587,282
Foreign currency translation adjustment, Laureate Education, Inc
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(1,149,993)			(1,127,719)
Foreign currency translation adjustment, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(108)			459
Foreign currency translation adjustment, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(1,150,101)			(1,127,260)
Unrealized gain on derivatives, Laureate Education, Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	10,416
Unrealized gain on derivatives, Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	0
Unrealized gain on derivatives, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	10,416
Unrealized gain on derivatives, Laureate Education, Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss				18,366
Unrealized gain on derivatives, Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss				0
Unrealized gain on derivatives, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss				18,366
Minimum pension liability adjustment, Laureate Education Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	1,189			(3,342)
Minimum pension liability adjustment, Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	0			0
Minimum pension liability adjustment, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	1,189			(3,342)
Accumulated other comprehensive (loss) income
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(1,138,388)	$ (1,060,849)	$ (1,060,565)	(1,112,695)	$ (1,079,860)	$ (1,026,339)	$ (839,322)	$ (925,556)
Accumulated other comprehensive loss, Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(108)			459
Accumulated other comprehensive loss, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (1,138,496)			$ (1,112,236)

Stockholders' Equity - Secondar

Stockholders' Equity - Secondary Offering (Details) - Common Class A - $ / shares	1 Months Ended
	Sep. 30, 2019	Jun. 30, 2019
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	0	0
Majority Shareholder | Wengen Alberta
Subsidiary, Sale of Stock [Line Items]
Sale of stock, price per share (in dollars per share)	$ 16.85	$ 15.3032
Majority Shareholder | Wengen Alberta | Secondary Offering
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	15,000,000	10,955,000

Derivative Instruments - Summar

Derivative Instruments - Summary of Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Long-term assets:	$ 0	$ 3,259
Liabilities
Total derivative instrument assets	295	3,259
Total derivative instrument liabilities	11	10,677
Derivatives designated as hedging instruments: | Net investment cross currency swaps
Assets
Long-term assets:	0	3,259
Derivatives not designated as hedging instruments: | Cross currency swaps
Assets
Current assets:		0
Liabilities
Long-term liabilities:	$ 0	$ 6,656

Derivative Instruments - Deriva

Derivative Instruments - Derivatives Designated as Hedging Instruments Narrative (Details) € in Thousands	Aug. 21, 2018USD ($)	Apr. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019EUR (€)	Dec. 31, 2018USD ($)	Dec. 31, 2017derivative_instrument	May 31, 2017USD ($)swap
Derivatives, Fair Value [Line Items]
Fair value of derivative assets			$ 0		$ 0		$ 3,259,000
Interest rate swaps
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in income on the ineffective portion of derivative instruments designated as cash flow hedging			0		(11,818,000)
Net investment cross currency swaps
Derivatives, Fair Value [Line Items]
Gain or (loss) recognized in income on the ineffective portion of derivative instruments designated as hedging			0		3,868,000
Derivatives designated as hedging instruments: | Interest rate swaps
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in income on the ineffective portion of derivative instruments designated as cash flow hedging				$ 0
Derivatives designated as hedging instruments: | Net investment cross currency swaps
Derivatives, Fair Value [Line Items]
Fair value of derivative assets			$ 0		$ 0		$ 3,259,000
Derivatives designated as hedging instruments: | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Cash received at settlement	$ 14,117,000
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swaps
Derivatives, Fair Value [Line Items]
Number of interest rate derivatives held (derivative instrument) | swap									4
Cash flow effectiveness percent				100.00%
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap,Instrument One
Derivatives, Fair Value [Line Items]
Derivative notional amount									$ 100,000,000
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap, Instrument Two
Derivatives, Fair Value [Line Items]
Derivative notional amount									100,000,000
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap, Instrument Three
Derivatives, Fair Value [Line Items]
Derivative notional amount									200,000,000
Derivatives designated as hedging instruments: | Cash Flow Hedging | Interest rate swap, Instrument Four
Derivatives, Fair Value [Line Items]
Derivative notional amount									$ 300,000,000
Derivatives designated as hedging instruments: | Net Investment Hedging | Net investment cross currency swaps
Derivatives, Fair Value [Line Items]
Cash flow effectiveness percent			100.00%		100.00%	100.00%
Number of currency derivatives held (derivative instrument) | derivative_instrument								2
Gain or (loss) recognized in income on the ineffective portion of derivative instruments designated as hedging					$ 0
Derivatives designated as hedging instruments: | Net Investment Hedging | Cross currency interest rate contract, Instrument One
Derivatives, Fair Value [Line Items]
Derivative notional amount			$ 59,210,000		$ 59,210,000	€ 50,000
Cash received at settlement		$ 7,679,000
Implied exchange rate			1.1842		1.1842	1.1842
Derivatives designated as hedging instruments: | Net Investment Hedging | Cross currency interest rate contract, Instrument One | EUR
Derivatives, Fair Value [Line Items]
Swaption interest rate			5.63%		5.63%	5.63%
Derivatives designated as hedging instruments: | Net Investment Hedging | Cross currency interest rate contract, Instrument One | USD
Derivatives, Fair Value [Line Items]
Swaption interest rate			8.25%		8.25%	8.25%
Derivatives designated as hedging instruments: | Net Investment Hedging | Cross currency interest rate contract, Instrument Two
Derivatives, Fair Value [Line Items]
Derivative notional amount			$ 59,360,000		$ 59,360,000	€ 50,000
Implied exchange rate			1.1872		1.1872	1.1872
Derivatives designated as hedging instruments: | Net Investment Hedging | Cross currency interest rate contract, Instrument Two | EUR
Derivatives, Fair Value [Line Items]
Swaption interest rate			5.6675%		5.6675%	5.6675%
Derivatives designated as hedging instruments: | Net Investment Hedging | Cross currency interest rate contract, Instrument Two | USD
Derivatives, Fair Value [Line Items]
Swaption interest rate			8.25%		8.25%	8.25%
Interest expense | Derivatives designated as hedging instruments: | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Derivatives gain				$ 9,800,000

Derivative Instruments - Summ_2

Derivative Instruments - Summary of Unrealized Gain (Loss) Recorded In and Reclassified From Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative Instruments, Gain (Loss) [Line Items]
(Loss) Gain Recognized in Comprehensive Income (Effective Portion), Total	$ 0	$ (10,559)	$ 2,609		$ (7,950)
Gain (Loss) Reclassified from AOCI to Income (Effective Portion), Total	0				11,818
Total Consolidated Interest Expense	(40,319)			$ (58,319)	(136,438)	$ (181,746)
Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on the ineffective portion of derivative instruments designated as cash flow hedging	0				(11,818)
Interest rate swaps | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Reclassified from AOCI to Income (Effective Portion), Cash flow hedge	0				11,818
Net investment cross currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain or (loss) recognized in income on the ineffective portion of derivative instruments designated as hedging	0				3,868
Gain (Loss) Reclassified from AOCI to Income (Effective Portion), Net investment hedge	$ 0				$ 0
Derivatives designated as hedging instruments:
Derivative Instruments, Gain (Loss) [Line Items]
Gain Recognized in Comprehensive Income (Effective Portion)				(560)		11,776
Loss Reclassified from AOCI to Income (Effective Portion)				950		912
Derivatives designated as hedging instruments: | Interest rate swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on the ineffective portion of derivative instruments designated as cash flow hedging		$ 0
Gain Recognized in Comprehensive Income (Effective Portion)				(1,938)		7,307
Derivatives designated as hedging instruments: | Interest rate swaps | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Loss Reclassified from AOCI to Income (Effective Portion)				950		912
Derivatives designated as hedging instruments: | Net investment cross currency swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain Recognized in Comprehensive Income (Effective Portion)				1,378		4,469
Loss Reclassified from AOCI to Income (Effective Portion)				$ 0		$ 0

Derivative Instruments - Deri_2

Derivative Instruments - Derivatives Not Designated as Hedging Instruments (Details) € in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Jun. 04, 2019USD ($)$ / €	May 15, 2019USD ($)	Apr. 02, 2019USD ($)	Jan. 16, 2018USD ($)	Dec. 31, 2018USD ($)swap$ / €	Mar. 31, 2019USD ($)swap	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)swap	Sep. 30, 2019AUD ($)swap	Sep. 30, 2019MXN ($)swap	May 31, 2019USD ($)$ / €	May 31, 2019EUR (€)$ / €	Apr. 30, 2019EUR (€)swap	Dec. 31, 2018EUR (€)swap$ / €	Apr. 23, 2018USD ($)	Dec. 31, 2017EUR (€)swap	Dec. 31, 2010USD ($)swap
Derivative [Line Items]
Fair value of derivative assets					$ 3,259			$ 0
Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Number of currency derivatives held (derivative instrument) | swap					2									2
Current assets					$ 0
Derivative liability, noncurrent					6,656			$ 0
Derivatives not designated as hedging instruments: | Contingent redemption features - Series A Preferred Stock
Derivative [Line Items]
Fair value of derivative assets															$ 140,300
Probability of conversion															100.00%
Derivatives not designated as hedging instruments: | Foreign Exchange Forward
Derivative [Line Items]
Number of currency derivatives held (derivative instrument) | swap																6
Unrealized gain (loss) on derivatives				$ (9,960)
Derivative notional amount | €																€ 200,000
Mexico | Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Number of currency derivatives held (derivative instrument) | swap								3	3	3
Derivative, exchange rate								0.0508	0.0508	0.0508
Current assets								$ 295
Derivative notional amount										$ 453,146
Mexico | Forecast | Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Derivative notional amount							$ 23,000
Australia | Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Number of currency derivatives held (derivative instrument) | swap								2	2	2
Derivative, exchange rate								0.6766	0.6766	0.6766
Current derivative liability								$ 11
Derivative notional amount									$ 11,000
Australia | Forecast | Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Derivative notional amount							$ 7,443
EUR | Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Number of currency derivatives held (derivative instrument) | swap													7
Derivative, exchange rate | $ / €	1.122461										1.128007	1.128007
Current derivative liability					$ 4,021
Unrealized gain (loss) on derivatives	$ (565)	$ 1,644
Derivative notional amount	$ 597,149										$ 423,003	€ 532,000	€ 375,000
EUR | Derivatives not designated as hedging instruments: | First Swap
Derivative [Line Items]
Derivative, exchange rate | $ / €					1.1439									1.1439
Unrealized gain (loss) on derivatives					$ 5,088
Derivative notional amount					$ 314,573									€ 275,000
EUR | Derivatives not designated as hedging instruments: | Cross Currency Interest Rate Contract, Maturing April 8, 2019
Derivative [Line Items]
Derivative, exchange rate | $ / €					1.13									1.13
Derivative notional amount					$ 310,750									€ 275,000
Payment on settlement of derivative			$ 980
Chile | Derivatives not designated as hedging instruments: | Cross currency swaps
Derivative [Line Items]
Derivative notional amount																	$ 31,000
Payment on settlement of derivative						$ 8,200
Derivative, number of instruments held (derivative instrument) | swap						4											4
Derivative liability, noncurrent					$ 6,656
Chile | Derivatives not designated as hedging instruments: | Cross Currency Interest Rate Contract, Maturing December 1, 2024
Derivative [Line Items]
Derivative, number of instruments held (derivative instrument) | swap																	1
Chile | Derivatives not designated as hedging instruments: | Cross Currency Interest Rate Contract, Maturing July 1, 2025
Derivative [Line Items]
Derivative, number of instruments held (derivative instrument) | swap																	3

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Details) - Derivatives not designated as hedging instruments: - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Unrealized Gain (Loss)	$ 284	$ 69	$ 4,305	$ (37,611)
Realized (Loss) Gain	0	(213)	3,794	129,723
Total Gain (Loss)	284	(144)	8,099	92,112
Contingent redemption features - Series A Preferred Stock
Derivative [Line Items]
Unrealized Gain (Loss)	0	0	0	(42,140)
Realized (Loss) Gain	0	0	0	140,320
Total Gain (Loss)	0	0	0	98,180
Cross currency and interest rate swaps
Derivative [Line Items]
Unrealized Gain (Loss)	284	33	4,305	4,391
Realized (Loss) Gain	0	(213)	3,794	(10,597)
Total Gain (Loss)	284	(180)	8,099	(6,206)
Interest rate swaps
Derivative [Line Items]
Unrealized Gain (Loss)	0	36	0	138
Total Gain (Loss)	$ 0	$ 36	$ 0	$ 138

Derivative Instruments - Credit

Derivative Instruments - Credit Risk and Credit-Risk-Related Contingent Feature (Details) $ in Thousands	Sep. 30, 2019USD ($)institution	Dec. 31, 2018USD ($)
Derivative [Line Items]
Derivative asset | $	$ 295	$ 3,259
Derivative liability | $	$ 11	$ 10,677
Moody's, A1 Rating
Derivative [Line Items]
Number of financial institutions company does transactions with | institution	1
Moody's, A2 Rating
Derivative [Line Items]
Number of financial institutions company does transactions with | institution	1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Income Tax Disclosure [Abstract]
Income tax penalties and interest expense	$ 3,571
Income tax penalties and interest accrued	29,420
Unrecognized tax benefits, period decrease	8,482
Unrecognized tax benefit that would impact effective tax rate	24,882
Decrease in unrecognized tax benefits in reasonable possible (up to)	$ 13,449

Earnings (Loss) Per Share - Sum

Earnings (Loss) Per Share - Summary of Earnings (Loss) Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Loss from continuing operations	$ (28,526)	$ (40,353)	$ (37,775)	$ (36,641)
Net (income) loss attributable to noncontrolling interests	(12)	12	(61)	(78)
Loss from continuing operations attributable to Laureate Education, Inc.	(28,538)	(40,341)	(37,836)	(36,719)
Accretion of redemption value of redeemable noncontrolling interests and equity	(193)	324	264	1,130
Adjusted for: accretion related to noncontrolling interests and equity redeemable at fair value			0	(559)
Accretion of Series A Preferred Stock	(193)		0	(61,974)
Gain upon conversion of Series A Preferred Stock			0	74,110
Subtotal: accretion of other redeemable noncontrolling interests and equity and Series A Preferred Stock, net			264	12,707
Net loss available to common stockholders for basic earnings (loss) per share	(28,731)	(40,017)	(37,572)	(24,012)
Adjusted for: accretion of Series A Preferred Stock	193		0	61,974
Adjusted for: gain upon conversion of Series A Preferred Stock			0	(74,110)
Net loss from continuing operations available to common stockholders for diluted earnings (loss) per share			(37,572)	(36,148)
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
Income (loss) from discontinued operations, net of tax	(27,137)	(37,905)	66,472	23,551
Gain (Loss) on sales of discontinued operations, including tax expense	(41,131)	(18,426)	848,390	311,904
Loss (income) attributable to noncontrolling interests	1,580	1,883	583	(237)
Net income (loss) from discontinued operations for basic and diluted earnings per share	$ (66,688)	$ (54,448)	$ 915,445	$ 335,218
Denominator used in basic and diluted earnings (loss) per common share:
Basic and Diluted weighted average shares outstanding (in shares)	224,193	224,037	224,498	209,129
Basic and diluted loss per share:
Loss from continuing operations (in dollars per share)	$ (0.13)	$ (0.18)
Loss from discontinued operations (in dollars per share)	(0.30)	(0.24)
Basic and diluted loss per share (in dollars per share)	$ (0.43)	$ (0.42)
Basic earnings (loss) per share:
Loss from continuing operations (in dollars per share)			$ (0.17)	$ (0.11)
Income from discontinued operations (in dollars per share)			4.08	1.60
Basic earnings per share (in dollars per share)			3.91	1.49
Diluted earnings (loss) per share:
Loss from continuing operations (in dollars per share)			(0.17)	(0.17)
Income from discontinued operations (in dollars per share)			4.08	1.60
Diluted earnings per share (in dollars per share)			$ 3.91	$ 1.43

Earnings (Loss) Per Share - Ant

Earnings (Loss) Per Share - Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	8,650	9,328	8,956	9,628
Restricted stock and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	733	931	854	1,034

Fair Value Measurement - Narrat

Fair Value Measurement - Narrative (Details) - Series B Preferred Stock - Coursera Inc - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2019	Sep. 30, 2019	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Share purchase (in shares)			1,020
Payment to acquire investment			$ 5,000
Gain on sale of investment	$ 6,100	$ 6,473
Fair value of an investment		$ 11,473

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Derivative asset	$ 295	$ 3,259
Liabilities
Derivative liability	11	10,677
Fair Value, Measurements, Recurring
Assets
Derivative asset	295	3,259
Liabilities
Derivative liability	11	10,677
Fair Value, Measurements, Recurring | Level 1
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Fair Value, Measurements, Recurring | Level 2
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Fair Value, Measurements, Recurring | Level 3
Assets
Derivative asset	295	3,259
Liabilities
Derivative liability	$ 11	$ 10,677

Fair Value Measurement - Change

Fair Value Measurement - Change in Level 3 Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Balance at December 31, 2018	$ (7,418)
Gain included in earnings:
Unrealized gains, net	4,305
Realized gains, net	3,794
Included in other comprehensive income	(7,950)
Settlements	(4,634)
Reclassification, currency translation adjustment and other	12,187
Balance at September 30, 2019	$ 284

Fair Value Measurement - Quanti

Fair Value Measurement - Quantitative Information Related to Significant Unobservable Inputs Utilized to Calculate Fair Value (Details) $ in Thousands	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative liability	$ 11	$ 10,677
Level 3 | Discounted Cash Flow
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Derivative liability	$ 284
Credit Risk | Level 3 | Discounted Cash Flow
Fair Value Inputs, Liabilities, Quantitative Information [Line Items]
Range/Input Value	0.0350

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 323,930	$ 387,780	$ 384,980
Restricted cash	183,819	195,792	191,281
Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows	$ 507,749	$ 583,572	$ 576,261	$ 525,745

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Oct. 14, 2019	Oct. 08, 2019	Oct. 07, 2019	Nov. 01, 2019	Oct. 06, 2019	Aug. 08, 2019
Common Class A
Subsequent Event [Line Items]
Amount authorized to be repurchased						$ 150,000,000
Subsequent Event | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Sodecam - Sociedade De Desenvolvimento Cultural Do Amazonas Ltda
Subsequent Event [Line Items]
Consideration received from dispositions				$ 46,000,000
Subsequent Event | Universidad U Latina, SRL and Education Holding Costa Rica EHCR, SRL | Discontinued Operations, Disposed of by Sale | UIP. Excelencia y Superacion S.A. (EXUSA)
Subsequent Event [Line Items]
Percent of ownership disposed of		100.00%
Consideration received from dispositions		$ 86,750,000
Net proceeds from dispositions		$ 80,000,000
Subsequent Event | Revolving Credit Facility
Subsequent Event [Line Items]
Percentage of utilized line of credit (less than)			25.00%
Subsequent Event | Lines of credit
Subsequent Event [Line Items]
Maximum debt to consolidated EBITDA ratio			4.75
Subsequent Event | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Maximum borrowing capacity under credit facility			$ 410,000,000		$ 385,000,000
Subsequent Event | Commencing with the quarter ending December 31, 2019 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Required minimum debt to consolidated EBITDA ratio			3.50
Subsequent Event | London Interbank Offered Rate (LIBOR) | Debt Covenant, Term 1 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			2.50%
Subsequent Event | London Interbank Offered Rate (LIBOR) | Debt Covenant Term 2 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			2.25%
Subsequent Event | London Interbank Offered Rate (LIBOR) | Debt Covenant Term 3 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			2.00%
Subsequent Event | London Interbank Offered Rate (LIBOR) | Debt Covenant Term 4 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			1.75%
Subsequent Event | Alternate Base Rate | Debt Covenant, Term 1 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			1.50%
Subsequent Event | Alternate Base Rate | Debt Covenant Term 2 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			1.25%
Subsequent Event | Alternate Base Rate | Debt Covenant Term 3 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			1.00%
Subsequent Event | Alternate Base Rate | Debt Covenant Term 4 | Lines of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Basis spread on variable rate			0.75%
Subsequent Event | Common Class A
Subsequent Event [Line Items]
Stock repurchase program, period increase	$ 150,000,000
Amount authorized to be repurchased	$ 300,000,000