Laureate Education (LAUR) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page	9 Months Ended
	Sep. 30, 2021shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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	2021
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	114,983,272
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	66,353,456

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenues	$ 267,691	$ 243,523	$ 789,971	$ 739,698
Costs and expenses:
Direct costs	181,978	185,758	577,141	614,125
General and administrative expenses	47,315	52,603	139,270	140,812
Loss on impairment of assets	3,292	323,397	67,161	350,939
Operating income (loss)	35,106	(318,235)	6,399	(366,178)
Interest income	1,268	684	2,456	1,594
Interest expense	(3,736)	(24,703)	(40,795)	(75,698)
Loss on debt extinguishment			(77,940)	0
Loss on derivatives			(24,517)	(626)
Other (expense) income, net	(46)	1,300	(67)	814
Foreign currency exchange gain (loss), net	6,085	(2,907)	18,749	71,074
(Loss) gain on disposal of subsidiaries, net	(949)	622	(922)	(1,178)
Income (loss) from continuing operations before income taxes and equity in net income of affiliates	37,728	(343,239)	(116,637)	(370,198)
Income tax (expense) benefit	(48,118)	72,199	(174,163)	293,514
Equity in net income of affiliates, net of tax			0	181
Loss from continuing operations	(10,390)	(271,040)	(290,800)	(76,503)
Income (loss) from discontinued operations, net of tax expense of $248,838 and $103,794, respectively	370,527	(513,390)	456,770	(921,239)
Net income (loss)	360,137	(784,430)	165,970	(997,742)
Net loss attributable to noncontrolling interests	269	(12)	508	5,092
Net income (loss) attributable to Laureate Education, Inc.	$ 360,406	$ (784,442)	$ 166,478	$ (992,650)
Basic and diluted earnings (loss) per share:
Loss from continuing operations (in dollars per share)	$ (0.06)	$ (1.29)	$ (1.51)	$ (0.36)
Loss from continuing operations, diluted (in dollars per share)	(0.06)	(1.29)	(1.51)	(0.36)
Loss from discontinued operations, basic (in dollars per share)	2	(2.44)	2.37	(4.36)
Loss from discontinued operations, diluted (in dollars per share)	2	(2.44)	2.37	(4.36)
Basic loss per share (in dollars per share)	1.94	(3.73)	0.86	(4.72)
Diluted earnings per share (in dollars per share)	$ 1.94	$ (3.73)	$ 0.86	$ (4.72)

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Tax expense (benefit) on gain on sales of discontinued operations,	$ (248,838)	$ (103,794)	$ (257,440)	$ (95,568)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 360,137	$ (784,430)	$ 165,970	$ (997,742)
Other comprehensive (loss) income:
Foreign currency translation adjustment, net of tax	(22,627)	326,342	428,055	10,260
Minimum pension liability adjustment, net of tax			(141)	(932)
Total other comprehensive income	(22,627)	326,342	427,914	9,328
Comprehensive income (loss)	337,510	(458,088)	593,884	(988,414)
Net comprehensive loss attributable to noncontrolling interests	248	62	507	4,475
Comprehensive income (loss) attributable to Laureate Education, Inc.	$ 337,758	$ (458,026)	$ 594,391	$ (983,939)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Pension adjustment, tax		$ 0	$ 0		$ 0	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,856,856	$ 750,147
Restricted cash	104,999	117,151
Receivables:
Accounts and notes receivable	113,844	138,738
Other receivables	101,736	49,835
Allowance for doubtful accounts	(55,724)	(76,694)
Receivables, net	159,856	111,879
Income tax receivable	13,693	14,564
Prepaid expenses and other current assets	29,140	15,079
Current assets held for sale	5,302	434,966
Total current assets	2,169,846	1,443,786
Property and equipment:
Land	114,939	126,228
Buildings	320,959	351,480
Furniture, equipment and software	475,802	494,079
Leasehold improvements	120,392	121,683
Construction in-progress	7,865	7,254
Accumulated depreciation and amortization	(546,528)	(522,240)
Property and equipment, net	493,429	578,484
Operating lease right-of-use assets, net	409,102	462,767
Goodwill	559,283	574,832
Tradenames	150,610	225,573
Deferred costs, net	8,150	17,623
Deferred income taxes	61,685	130,567
Other assets	47,290	54,793
Long-term assets held for sale	14,961	1,482,469
Total assets	3,914,356	4,970,894
Current liabilities:
Accounts payable	31,986	41,073
Accrued expenses	66,553	95,743
Accrued compensation and benefits	82,420	64,089
Deferred revenue and student deposits	68,300	47,180
Current portion of operating leases	45,710	44,631
Current portion of long-term debt and finance leases	49,918	95,818
Income taxes payable	271,052	29,682
Derivative instruments	0	17,680
Special cash distribution payable	1,271,790	0
Other current liabilities	21,014	15,109
Current liabilities held for sale	6,728	353,550
Total current liabilities	1,915,471	804,555
Long-term operating leases, less current portion	413,777	474,507
Long-term debt and finance leases, less current portion	111,815	899,898
Deferred compensation	12,126	13,425
Income taxes payable	56,768	36,078
Deferred income taxes	137,163	86,368
Derivative instruments	0	8,144
Other long-term liabilities	27,671	33,555
Long-term liabilities held for sale	9,892	348,706
Total liabilities	2,684,683	2,705,236
Redeemable noncontrolling interests and equity	1,714	1,724
Stockholders' equity:
Preferred stock, par value $0.001 per share – 49,889 shares authorized as of September 30, 2021 and December 31, 2020, respectively, no shares issued and outstanding as of September 30, 2021 and December 31, 2020	0	0
Additional paid-in capital	2,494,856	3,760,029
Accumulated deficit	(10,445)	(176,822)
Accumulated other comprehensive loss	(514,073)	(941,986)
Treasury stock at cost (47,102 shares held at September 30, 2021 and 22,043 shares held at December 31, 2020)	(729,902)	(365,316)
Total Laureate Education, Inc. stockholders' equity	1,241,349	2,276,816
Noncontrolling interests	(13,390)	(12,882)
Total stockholders' equity	1,227,959	2,263,934
Total liabilities and stockholders' equity	3,914,356	4,970,894
Class A Common Stock
Stockholders' equity:
Common stock	648	548
Class B Common Stock
Stockholders' equity:
Common stock	$ 265	$ 363

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Preferred stock, par or stated value per share (in dollars per share)	$ 0.001	$ 0.001
Preferred stock authorized (in shares)	49,889,000	49,889,000
Preferred stock issued (in shares)	0
Preferred stock outstanding (in shares)	0	0
Treasury stock (in shares)	47,102,000	22,043,000
Class A Common Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.004	$ 0.004
Common stock authorized (in shares)	700,000,000	700,000,000
Common stock issued (in shares)	162,085,000	137,162,000
Common stock outstanding (in shares)	114,983,000	115,119,000
Class B Common Stock
Common stock, par or stated value per share (in dollars per share)	$ 0.004	$ 0.004
Common stock authorized (in shares)	175,000,000	175,000,000
Common stock issued (in shares)	66,354,000	90,792,000
Common stock outstanding (in shares)	66,354,000	90,792,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income (loss)	$ 165,970	$ (997,742)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75,617	116,117
Amortization of operating lease right-of-use assets	35,797	68,229
Loss on impairment of assets	68,429	782,526
(Gain) loss on sales and disposal of subsidiaries and property and equipment, net	(625,532)	524,956
Loss on derivative instruments	24,517	626
Payments for settlement of derivative contracts	0	(626)
Loss on debt extinguishment	77,999	0
Non-cash interest expense	6,129	14,075
Interest paid on deferred purchase price for acquisitions	0	(3,969)
Non-cash share-based compensation expense	7,175	10,277
Bad debt expense	17,672	97,662
Deferred income taxes	267,551	(264,381)
Unrealized foreign currency exchange gain	(11,240)	(15,355)
Non-cash loss from non-income tax contingencies	11,976	3,375
Other, net	(71)	1,917
Changes in operating assets and liabilities:
Receivables	(9,632)	(325,106)
Prepaid expenses and other assets	(20,021)	(47,616)
Accounts payable and accrued expenses	(47,175)	(50,545)
Income tax receivable/payable, net	63,151	(56,875)
Deferred revenue and other liabilities	(54,272)	364,210
Net cash provided by operating activities	54,040	221,755
Cash flows from investing activities
Purchase of property and equipment	(27,578)	(62,347)
Expenditures for deferred costs	(5,371)	(11,955)
Receipts from sales of discontinued operations, net of cash sold, and property and equipment	2,137,673	40,148
Payments on derivatives related to sale of discontinued operations	(50,341)	0
Payments to related parties	0	(3)
Net cash provided by (used in) investing activities	2,054,383	(34,157)
Cash flows from financing activities
Proceeds from issuance of long-term debt, net of original issue discount	46,493	566,726
Payments on long-term debt	(933,213)	(298,664)
Payments of deferred purchase price for acquisitions	0	(5,680)
Proceeds from exercise of stock options	1,160	26,697
Withholding of shares to satisfy tax withholding for vested stock awards and exercised stock options	(1,718)	(1,150)
Payments to repurchase common stock	(364,275)	(29,203)
Payments of call premiums and debt issuance costs	(32,980)	(726)
Distributions to noncontrolling interest holders	0	(609)
Net cash (used in) provided by financing activities	(1,284,533)	257,391
Effects of exchange rate changes on Cash and cash equivalents and Restricted cash	(14,360)	(13,448)
Change in cash included in current assets held for sale	285,027	218,298
Net change in Cash and cash equivalents and Restricted cash	1,094,557	649,839
Cash and cash equivalents and Restricted cash at beginning of period	867,298	97,817
Cash and cash equivalents and Restricted cash at end of period	$ 1,961,855	$ 747,656

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2021
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 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). In response to the COVID-19 pandemic, we h ave temporarily tran sitioned the educational delivery method at all of our campus-based institutions to be predominantly online and are leveraging our existing technologies and learning platforms to serve students outside of the traditional classroom setting. We are domiciled in Delaware as a public benefit corporation, 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 In 2017 and 2018, the Company announced the divestiture of certain subsidiaries located in Europe, Asia and Central America, which were included in the following segments: Peru (formerly Andean), Central America (formerly Central America & U.S. Campuses), and Rest of World. The goal of the divestitures was to create a more focused and simplified business model and generate proceeds to be used for further repayment of long-term debt. This represented a strategic shift that had a major effect on the Company’s operations and financial results. Accordingly, all of the divestitures that were part of this strategic shift, which have now been completed, were accounted for as Discontinued Operations for all periods presented in accordance with Accounting Standards Codification (ASC) 205-20, “Discontinued Operations” (ASC 205). On January 27, 2020, we announced that our board of directors had authorized the Company to explore strategic alternatives for each of its businesses to unlock shareholder value. As a result of these efforts to explore strategic alternatives, during the third quarter of 2020, the Company announced that it had completed a sale of its operations in Chile and had signed agreements to sell its operations in Brazil, Australia and New Zealand, as well as Walden University, its fully online higher education institution in the United States. This also represented a strategic shift that had a major effect on the Company’s operations and financial results. As such, Chile, Brazil, Australia and New Zealand, and Walden also have been accounted for as Discontinued Operations for all periods presented in accordance with ASC 205. The sale of our operations in Australia and New Zealand was completed on November 3, 2020, the sale of our operations in Brazil was completed on May 28, 2021, and the sale of Walden University was completed on August 12, 2021. For Laureate’s institutions in Mexico and Peru, the board decided after a thorough evaluation of all strategic options, including a potential sale, to continue to operate these assets under Laureate management. Accordingly, Mexico and Peru represent our Continuing Operations. See Note 4, Discontinued Operations and Assets Held for Sale, and Note 5, Dispositions, 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, 2020 (the 2020 Form 10-K).

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies COVID-19 The outbreak of COVID-19 has caused domestic and global disruption in operations for institutions of higher education. The long-term effect to the Company of the COVID-19 pandemic depends on numerous factors, including, but not limited to, the effect on student enrollment, tuition pricing, and collections in future periods, which cannot be fully quantified at this time. As of September 30, 2021 and through the date of this Form 10-Q, the Company evaluated its accounting estimates that require consideration of forecasted financial information, based on current information reasonably available to us. The forecast also includes certain estimates and assumptions around macroeconomic conditions and the timing of campuses reopening. While this evaluation did not result in a material effect to the Company’s Consolidated Financial Statements as of and for the nine months ended September 30, 2021, future evaluations could result in a material effect, including potential impairments, depending on the eventual impact to the Company of the COVID-19 pandemic and its effect on student enrollment, tuition pricing, and collections in future periods. Recently Adopted Accounting Standards Accounting Standards Update (ASU) No. 2019-12 (ASU 2019-12), Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, which removes certain exceptions for performing intraperiod tax allocations, recognizing deferred taxes for investments, and calculating income taxes in interim periods. The guidance also simplifies the accounting for franchise taxes, transactions that result in a step-up in the tax basis of goodwill, and the effect of enacted changes in tax laws or rates in interim periods. The Company adopted ASU 2019-12 in the first quarter of 2021 and the adoption had no material impact to our Consolidated Financial Statements.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
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 revenue for the three months ended September 30, 2021 and 2020: Mexico Peru Corporate (1) Total 2021 Tuition and educational services $ 160,117 $ 129,715 $ — $ 289,832 108 % Other 25,813 12,959 3,309 42,081 16 % Gross revenue 185,930 142,674 3,309 331,913 124 % Less: Discounts / waivers / scholarships (54,669) (9,553) — (64,222) (24) % Total $ 131,261 $ 133,121 $ 3,309 $ 267,691 100 % 2020 Tuition and educational services $ 141,897 $ 126,455 $ — $ 268,352 110 % Other 17,491 11,718 260 29,469 12 % Gross revenue $ 159,388 $ 138,173 $ 260 $ 297,821 122 % Less: Discounts / waivers / scholarships (43,439) (10,859) — (54,298) (22) % Total $ 115,949 $ 127,314 $ 260 $ 243,523 100 % (1) Includes the elimination of inter-segment revenues. The following table shows the components of Revenues by reportable segment and as a percentage of total revenue for the nine months ended September 30, 2021 and 2020: Mexico Peru Corporate (1) Total 2021 Tuition and educational services $ 483,854 $ 386,189 $ — $ 870,043 110 % Other 67,139 35,405 6,751 109,295 14 % Gross revenue 550,993 421,594 6,751 979,338 124 % Less: Discounts / waivers / scholarships (160,052) (29,315) — (189,367) (24) % Total $ 390,941 $ 392,279 $ 6,751 $ 789,971 100 % 2020 Tuition and educational services $ 442,470 $ 352,949 $ — $ 795,419 108 % Other 56,845 29,456 3,264 89,565 12 % Gross revenue $ 499,315 $ 382,405 $ 3,264 $ 884,984 120 % Less: Discounts / waivers / scholarships (114,294) (30,992) — (145,286) (20) % Total $ 385,021 $ 351,413 $ 3,264 $ 739,698 100 % (1) Includes the elimination of inter-segment 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 $113,844 and $138,738 as of September 30, 2021 and December 31, 2020, respectively. The decrease in the contract assets balance at September 30, 2021 compared to December 31, 2020 was 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 $68,300 and $47,180 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, 2021 and December 31, 2020, respectively. The increase in the contract liability balance during the period ended September 30, 2021 was the result of semester billings and cash payments received in advance of satisfying performance obligations, partially offset by revenue recognized during that period. Revenue recognized for the nine months ended September 30, 2021 that was included in the contract liability balance at the beginning of the year was approximately $38,764.

Discontinued Operations and Ass

Discontinued Operations and Assets Held for Sale	9 Months Ended
	Sep. 30, 2021
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, the Company’s remaining principal markets are Mexico and Peru (the Continuing Operations). All other markets have been divested (the Discontinued Operations). In the tables below, certain classification changes have been made to the prior year amounts in order to conform to the current year presentation. On the Consolidated Statements of Operations, the results from the Discontinued Operations, which in the prior year were presented in two lines, have been combined into one line labeled Income (loss) from discontinued operations, net of tax, for all periods presented. Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables: For the three months ended September 30, 2021 2020 Revenues $ 70,787 $ 459,442 Depreciation and amortization expense — (13,656) Share-based compensation expense (371) (1,045) Other direct costs (58,123) (340,657) Loss on impairment of assets — (10,275) Other non-operating expense (4,938) (14,731) Gain (loss) on sale of discontinued operations before taxes, net 612,010 (488,674) Pretax income (loss) of discontinued operations 619,365 (409,596) Income tax expense (248,838) (103,794) Income (loss) from discontinued operations, net of tax $ 370,527 $ (513,390) For the nine months ended September 30, 2021 2020 Revenues $ 542,650 $ 1,342,298 Depreciation and amortization expense — (60,168) Share-based compensation expense (1,198) (2,378) Other direct costs (430,789) (1,070,362) Loss on impairment of assets (1,268) (431,587) Other non-operating expense (20,489) (79,807) Gain (loss) on sale of discontinued operations before taxes, net 625,304 (523,667) Pretax income (loss) of discontinued operations 714,210 (825,671) Income tax expense (257,440) (95,568) Income (loss) from discontinued operations, net of tax $ 456,770 $ (921,239) Operating cash flows of discontinued operations $ 16,420 $ 248,972 Investing cash flows of discontinued operations $ (11,161) $ (40,578) Financing cash flows of discontinued operations $ (18,054) $ 8,725 Loss Recognized on Brazil Held-For-Sale Disposal Group During the first quarter of 2021, the Company recorded a loss of approximately $32,400 related to the Brazil disposal group, which was classified as a Discontinued Operation, in order to write down the carrying value of those assets to their estimated fair value less costs to sell as of March 31, 2021, in accordance with ASC 360-10, “Impairment and Disposal of Long-lived Assets” (ASC 360-10). The estimated fair value was based on the sale agreement for the disposal group that was announced on November 2, 2020, as previously disclosed. The sale of the Brazil disposal group closed on May 28, 2021. See Note 5, Dispositions, for more information. The assets and liabilities of the Discontinued Operations, which are subject to finalization, have been classified as held for sale as of September 30, 2021 and December 31, 2020. The assets and liabilities are recorded at the lower of their carrying values or their estimated fair values less costs to sell. 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, 2021 December 31, 2020 Assets of Discontinued Operations Cash and cash equivalents $ 3,157 $ 270,164 Receivables, net 1,000 113,386 Property and equipment, net 8,645 259,471 Goodwill and Tradenames — 1,202,496 Operating lease right-of-use assets, net 6,892 136,806 Other assets 569 183,742 Valuation allowance on held-for-sale disposal groups — (248,630) Total assets held for sale $ 20,263 $ 1,917,435 Liabilities of Discontinued Operations Deferred revenue and student deposits $ 198 $ 87,793 Operating leases, including current portion 12,034 151,413 Long-term debt, seller notes and finance leases, including current portion — 171,451 Other liabilities 4,388 291,599 Total liabilities held for sale $ 16,620 $ 702,256

Dispositions

Dispositions	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Dispositions	Dispositions Honduras Divestiture On March 8, 2021, the Company completed the divestiture of its operations in Honduras to Fundación Nasser, a not-for-profit foundation in Honduras. In connection with the transaction, the Company transferred control of Fundaempresa, which manages Universidad Tecnológica Centroamericana (UNITEC), including Centro Universitario Tecnológico (CEUTEC). The proceeds received, net of cash sold, closing costs and a working capital adjustment that was completed during the second quarter of 2021, were approximately $24,000. Under the transaction terms, additional consideration of $2,000 was paid into an escrow account at closing and, assuming certain conditions are met, will be released to the Company based on the following schedule: 50% after 18 months, 25% after 24 months and 25% after 36 months. The Company recognized a pre-tax loss of approximately $1,700, which is included in Income (loss) from discontinued operations, net of tax in the Consolidated Statement of Operations for the nine months ended September 30, 2021. Receipt of Remaining Escrow Receivable from Sale of China Operations On January 25, 2018, the Company completed the sale of LEI Lie Ying Limited in China. At the closing of the sale on January 25, 2018, a portion of the total transaction value was paid into an escrow account, to be distributed to the Company pursuant to the terms and conditions of the escrow agreement. In June 2020, the Company received approximately one-half of the escrow account, and the remainder was due in January 2021. In April 2021, the Company received 168,284 Hong Kong Dollars (approximately $21,650 at the date of receipt), which represented payment in full for the remainder of the escrow account. Accordingly, the Company recognized a gain of approximately $13,600, which is included in Income (loss) from discontinued operations, net of tax in the Consolidated Statement of Operations for the nine months ended September 30, 2021. Brazil Divestiture On May 28, 2021, the Company completed the sale of its operations in Brazil to Ânima Holding S.A. (Anima). The proceeds received, net of cash sold, transaction fees and settlement of foreign currency swaps, were approximately $625,500. The Company used a portion of the proceeds to repay the remaining balance outstanding under its Senior Notes due 2025. Additionally, the buyer assumed indebtedness, gross of cash sold, of approximately $121,000. The Company recognized a pre-tax gain on the sale of approximately $26,100, which included a working capital adjustment that was completed during the third quarter of 2021. This gain is included in Income (loss) from discontinued operations, net of tax in the Consolidated Statement of Operations for the nine months ended September 30, 2021. Walden Divestiture On August 12, 2021, the Company closed the previously disclosed transaction pursuant to the Membership Interest Purchase Agreement (the Walden Purchase Agreement), dated September 11, 2020, with Adtalem Global Education Inc., a Delaware corporation (the Walden Purchaser). Pursuant to the Walden Purchase Agreement, the Company sold to the Walden Purchaser all of the issued and outstanding equity interest in Walden e-Learning, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company (Walden), and its subsidiary, Walden University, LLC, a Florida limited liability company and an indirect wholly owned subsidiary of the Company (together with Walden, the Walden Group). The proceeds received, net of cash sold, transaction fees, and certain closing adjustments, were approximately $1,397,200. At closing, the Company also recorded a receivable of $74,000, representing the portion of the transaction value that was paid into an escrow account, to be released to the Company one year following the closing of the transaction pursuant to the terms and conditions of the escrow agreement. In addition, approximately $83,600 of restricted cash on the Company's balance sheet related to collateralized regulatory obligations is expected to be released within the next twelve months. The Company recognized a pre-tax gain on the sale of approximately $615,200, as well as estimated tax expense of approximately $278,000, which is included in Income (loss) from discontinued operations, net of tax in the Consolidated Statement of Operations for the three and nine months ended September 30, 2021. Collection of Note Receivable from Divestiture of Chilean Operations On September 10, 2020, the Company completed the divestiture of its operations in Chile. Under the terms of the agreement, the purchase price included a note receivable of $21,500 that was payable one year from the date of divestiture. In September 2021, the Company collected this receivable.

Business and Geographic Segment

Business and Geographic Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business and Geographic Segment Information	Business and Geographic Segment Information Laureate’s educational services are offered through two reportable segments: Mexico and Peru. Laureate determines its segments based on information utilized by the chief operating decision maker to allocate resources and assess performance. Our segments generate revenues by providing an education that emphasizes profession-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 onli ne and in-classroom) courses and programs to deliver their curriculum. In response to the COVID-19 pandemic, we h ave temporarily tran sitioned the educational delivery method at all of our institutions to be online and are leveraging our existing technologies and learning platforms to serve students outside of the traditional classroom setting. The Mexico and Peru markets are characterized by what we believe is a significant imbalance between supply and demand. The demand for higher education is large and growing and is fueled by several demographic and economic factors, including a growing middle class, global growth in services and technology-related industries and recognition of the significant personal and economic benefits gained by graduates of higher education institutions. The target demographics are primarily 18- to 24-year-olds in the countries in which we compete. We compete with other private higher education institutions on the basis of price, educational quality, reputation and location. We believe that we compare favorably with competitors because of our focus on quality, professional-oriented curriculum. There are a number of private and public institutions in both of the countries in which we operate, and it is difficult to predict how the markets will evolve and how many competitors there will be in the future. We expect competition to increase as the Mexican and Peruvian markets mature. Essentially all of our revenues were generated from private pay sources as there are no material government-sponsored loan programs in Mexico or Peru. Specifics related to both of our reportable segments are discussed below. Private education providers in Mexico constitute 35% of the total higher-education market. The private sector plays a meaningful role in higher education, bridging supply and demand imbalances created by a lack of capacity at public universities. Laureate owns two institutions and is present throughout the country with a footprint of over 35 campuses. Each institution in Mexico has a national license. Students in our Mexican institutions typically finance their own education. In Peru, private universities are increasingly providing the capacity to meet growing demand and constitute 72% of the total higher-education market. Laureate owns three institutions in Peru. 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. As a result, the Discontinued Operations have been excluded from the segment information for all periods presented. Inter-segment 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 inter-segment 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: Gain (loss) on disposal of subsidiaries, net, Foreign currency exchange (loss) gain, net, Other (expense) income, net, Loss 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), 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, an enterprise-wide program aimed at revenue growth, and certain non-recurring costs incurred in connection with the dispositions described in Note 5, Dispositions. 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 Income (loss) 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, 2021 2020 2021 2020 Revenues Mexico $ 131,261 $ 115,949 $ 390,941 $ 385,021 Peru 133,121 127,314 392,279 351,413 Corporate 3,309 260 6,751 3,264 Revenues $ 267,691 $ 243,523 $ 789,971 $ 739,698 Adjusted EBITDA of reportable segments Mexico $ 27,047 $ 15,530 $ 61,503 $ 58,544 Peru 70,791 56,474 196,016 128,975 Total Adjusted EBITDA of reportable segments 97,838 72,004 257,519 187,519 Reconciling items: Corporate (21,955) (21,636) (64,866) (72,439) Depreciation and amortization expense (25,872) (18,186) (75,617) (55,949) Loss on impairment of assets (3,292) (323,397) (67,161) (350,939) Share-based compensation expense (2,026) (2,627) (5,977) (7,899) EiP expenses (9,587) (24,393) (37,499) (66,471) Operating income (loss) 35,106 (318,235) 6,399 (366,178) Interest income 1,268 684 2,456 1,594 Interest expense (3,736) (24,703) (40,795) (75,698) Loss on debt extinguishment — — (77,940) — Loss on derivatives — — (24,517) (626) Other (expense) income, net (46) 1,300 (67) 814 Foreign currency gain (loss), net 6,085 (2,907) 18,749 71,074 (Loss) gain on disposal of subsidiaries, net (949) 622 (922) (1,178) Income (loss) from continuing operations before income taxes and equity in net income of affiliates $ 37,728 $ (343,239) $ (116,637) $ (370,198) September 30, 2021 December 31, 2020 Assets Mexico $ 1,326,223 $ 1,278,198 Peru 539,860 623,294 Corporate and Discontinued Operations 2,048,273 3,069,402 Total assets $ 3,914,356 $ 4,970,894

Goodwill and Loss on Impairment

Goodwill and Loss on Impairment of Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Loss on Impairment of Assets	Goodwill and Loss on Impairment of Assets The change in the net carrying amount of Goodwill from December 31, 2020 through September 30, 2021 was composed of the following items: Mexico Peru Total Balance at December 31, 2020 $ 500,250 $ 74,582 $ 574,832 Currency translation adjustments (6,174) (9,375) (15,549) Balance at September 30, 2021 $ 494,076 $ 65,207 $ 559,283 Impairment of Laureate Tradename During the first quarter of 2021, the Company recognized an impairment charge of $51,400 on the Laureate tradename, a finite-lived intangible asset. In March 2021, the Company decided that, during 2021, it would wind down certain support functions related to the Laureate network and would no longer invest in and support the Laureate tradename beyond 2021. As a result, the Company tested the asset for impairment and estimated the fair value of the tradename asset using the relief-from-royalty method, based on the projected revenues for each business over the estimated remaining useful life of the asset. As a result of the impairment test, the Company concluded that the estimated fair value of the Laureate tradename was less than its carrying value by approximately $51,400 and recorded an impairment charge for that amount. The significant assumptions used in estimating the fair value included: (1) the revenue growth rates and (2) the estimated royalty rates. The inputs used were not observable to active markets and are therefore deemed “Level 3” inputs in the fair value hierarchy. The decrease in the fair value of the tradename was attributable to the shortened duration of the estimated future revenues. The remaining carrying value of the tradename asset, which was approximately $5,825 as of September 30, 2021, is being amortized prospectively over the remainder of 2021, which is its estimated useful life.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Outstanding long-term debt was as follows: September 30, 2021 December 31, 2020 Senior long-term debt: Senior Secured Credit Facility (stated maturity date October 2024) $ — $ — Senior Notes (stated maturity date May 2025) — 798,725 Total senior long-term debt — 798,725 Other debt: Lines of credit 9,779 59,014 Notes payable and other debt 109,421 138,630 Total senior and other debt 119,200 996,369 Finance lease obligations and sale-leaseback financings 46,502 52,639 Total long-term debt and finance leases 165,702 1,049,008 Less: total unamortized deferred financing costs 3,969 53,292 Less: current portion of long-term debt and finance leases 49,918 95,818 Long-term debt and finance leases, less current portion $ 111,815 $ 899,898 Senior Secured Credit Facility The Company maintains a revolving credit facility under our Senior Secured Credit Facility that has a borrowing capacity of $410,000 and has a maturity date of October 7, 2024. As of September 30, 2021 and December 31, 2020, no amounts were borrowed on this facility. Senior Notes On May 4, 2021, the Company redeemed $500,000 aggregate principal amount of its 8.250% Senior Notes due 2025 (the Senior Notes) at a redemption price of 104.125% of the principal amount thereof plus accrued and unpaid interest thereon to, but excluding the redemption date. The Company used a portion of the proceeds from the sale of its operations in Australia and New Zealand, which was completed on November 3, 2020, to fund the redemption of the Senior Notes. Additionally, on May 28, 2021, the Company completed the sale of its operations in Brazil and used a portion of the proceeds to redeem the remaining outstanding balance of the Senior Notes of $298,725 at a redemption price of 104.125% of the principal amou nt thereof plus accrued and unpaid interest thereon to, but excluding the redemption date of, June 3, 2021. Loss on Debt Extinguishment In connection with the repayment of the Senior Notes during the nine months ended September 30, 2021, the Company recorded a Loss on debt extinguishment of approximately $77,900, related to the redemption premium paid and the write off of the unamortized deferred financing costs associated with the repaid debt balances. Estimated Fair Value of Debt As of September 30, 2021, the estimated fair value of our debt approximated its carrying value. As of December 31, 2020, the estimated fair value of our debt was determined using observable market prices as the majority of our securities, including the Senior Secured Credit Facility and the Senior Notes due 2025, were traded in a brokered market. The fair value of the remaining debt instruments was approximated at the carrying value based on their terms. As of December 31, 2020, 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: December 31, 2020 Carrying amount Estimated fair value Total senior and other debt $ 996,369 $ 1,043,294 Certain Covenants As of September 30, 2021, our Third Amended and Restated Credit Agreement (the Third A&R Credit Agreement) 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 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, as defined in the Third A&R Credit Agreement, to exceed 3.50x as of the last day of each quarter commencing with the quarter ending December 31, 2019 and thereafter. The agreement also provides that if (i) the Company’s Consolidated Total Debt to Consolidated EBITDA ratio, as defined in the Third A&R Credit Agreement, is not greater than 4.75x 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, 2021, these conditions were satisfied and, therefore, we were not subject to the leverage ratio. In addition, indebtedness at some of our locations contain financial maintenance covenants. We were in compliance with these covenants as of September 30, 2021.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
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. In accordance with ASC Topic 842, “Leases,” Laureate analyzes each lease agreement to determine whether it should be classified as a finance lease or an operating lease. Finance Leases Our finance lease agreements are for property and equipment. The lease assets are included within buildings as well as furniture, equipment and software and the related lease liability is included within debt and finance leases on the Consolidated Balance Sheets. Operating Leases Our operating lease agreements are primarily for real estate space and are included within operating lease right-of-use (ROU) assets and operating lease liabilities on the Consolidated Balance Sheets. 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 of the lease 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. Corporate Office Lease Termination In March 2021, the Company exercised its one-time right under the operating lease agreement for its corporate headquarters in Baltimore, Maryland to terminate the lease effective June 30, 2022. In connection with the exercise of this early termination option, the Company is required to pay an early termination fee of approximately $1,200, half of which was paid in March 2021, and half of which is due by June 30, 2022. Accordingly, during the first quarter of 2021, the Company remeasured the operating lease liability, including the early termination fee, and recorded a reduction in the ROU asset and the operating lease liability of approximately $14,900.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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, 2021 and December 31, 2020, Laureate has recorded cumulative liabilities totaling $1,287 and $38,355, respectively, for taxes other-than-income tax, principally payroll-tax-related uncertainties recorded at the time of an acquisition, of which $37,794 was classified as held for sale as of December 31, 2020. The majority of the liability balance at December 31, 2020 related to our operations in Brazil which were sold on May 28, 2021. See Note 5, Dispositions, for more information. 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. For Continuing Operations, the total decrease to operating income for adjustments to non-income tax contingencies and indemnification assets was $13,438 and $6,139, respectively, for the nine months ended September 30, 2021 and 2020. In addition, as of September 30, 2021 and December 31, 2020, Laureate has recorded cumulative liabilities for income tax contingencies of $58,094 and $40,668, respectively, of which $6,461 and $11,752, respectively, were classified as held for sale. As of September 30, 2021 and December 31, 2020, indemnification assets primarily related to acquisition contingencies were $768 and $55,940, respectively, of which $40,877 was classified as held for sale as of December 31, 2020. These indemnification assets primarily cover contingencies for income taxes and taxes other-than-income taxes. The majority of the indemnification assets at December 31, 2020 related to our operations in Brazil, which were sold on May 28, 2021. We have identified certain contingencies, 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 material. 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, 2021 and December 31, 2020, approximately $7,300 and $8,300, respectively, of loss contingencies were included in Other long-term liabilities and Other current liabilities on the Consolidated Balance Sheets. Guarantees 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. During the first quarter of 2021, one of our Peruvian institutions issued a bank guarantee in the amount of PEN 23,764 (approximately $5,767 at September 30, 2021) in order to appeal a preliminary tax assessment received related to tax audits of 2014 and 2015. Standby Letters of Credit and Other Commitments As of September 30, 2021 and December 31, 2020, Laureate's outstanding letters of credit (LOCs) primarily consisted of the items discussed below. As of both September 30, 2021 and December 31, 2020, we had approximately $83,600 posted as an LOC in favor of the DOE, and the restricted cash used to collateralize this LOC was held by a corporate entity. Prior to the sale of Walden, this LOC was required to allow Walden to participate in the DOE Title IV program. This restricted cash is expected to be released within the twelve-month period following the closing of the Walden sale, which occurred during the third quarter of 2021. Spanish Tax Audits As of September 30, 2021 and December 31, 2020, we had approximately $11,000 and $11,500, respectively, posted as cash collateral for LOCs related to the Spanish tax audits. This was recorded in Continuing Operations and classified as Restricted cash on our September 30, 2021 and December 31, 2020 Consolidated Balance Sheets. The cash collateral is related to final assessments issued by the Spanish Taxing Authority (STA) in October 2018 and January 2020 to Iniciativas Culturales de España, S.L. (ICE). In October 2021, the Company made a payment to the STA of approximately $9,300, in order to reduce the amount of future interest that could be incurred as the appeals process continues. Following the payment, the LOCs are no longer required and therefore are expected to be released during the fourth quarter of 2021. ICE was formerly our Spanish holding company; during the second quarter of 2020, ICE was migrated to the Netherlands and its name was changed to Laureate Netherlands Holding B.V. In addition, on March 11, 2020, ICE received a preliminary assessment of approximately EUR 21,600 (approximately $25,300 at September 30, 2021), related to the STA’s extension of their audit to review withholding taxes on income earned by nonresidents. This assessment was not final, and ICE challenged the assessment. On March 30, 2021, in response to our allegations, the STA issued a final assessment to Laureate Netherlands Holding B.V. in which the Chief Tax Auditor challenged the preliminary assessment and found that the STA could not claim the withholding tax obligation in this case. At this time, we consider the matter resolved. As previously disclosed, on July 22, 2021, the Spanish National Court issued a decision on the Company’s appeal regarding the STA audits of ICE for the fiscal years 2006-2007 and 2008-2010. Based on our understanding of the decision, the matter is not yet resolved in favor of either the Company or the STA. During the third quarter of 2021, both the Company and the STA appealed the Spanish National Court decision. The Company does not believe that this matter will have a material effect on its consolidated financial statements.

Share-based Compensation

Share-based Compensation	9 Months Ended
	Sep. 30, 2021
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, 2021 2020 2021 2020 Continuing operations Stock options, net of estimated forfeitures $ 72 $ 297 $ 349 $ 1,024 Restricted stock awards 1,954 2,330 5,628 6,875 Total continuing operations $ 2,026 $ 2,627 $ 5,977 $ 7,899 Discontinued operations Share-based compensation expense for discontinued operations 371 1,045 1,198 2,378 Total continuing and discontinued operations $ 2,397 $ 3,672 $ 7,175 $ 10,277

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The components of net changes in stockholders’ equity for the fiscal quarters of 2021 are as follows: Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital Accumulated deficit Accumulated other comprehensive loss Treasury stock at cost Non-controlling interests Total stockholders’ equity Shares Amount Shares Amount Balance at December 31, 2020 115,119 $ 548 90,792 $ 363 $ 3,760,029 $ (176,822) $ (941,986) $ (365,316) $ (12,882) $ 2,263,934 Beginning retained earnings adjustment — — — — — (101) — — — (101) Non-cash stock compensation — — — — 1,576 — — — — 1,576 Conversion of Class B shares to Class A shares 17,248 69 (17,248) (69) — — — — — — Purchase of treasury stock at cost (10,401) — — — — — — (145,806) — (145,806) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 247 1 — — (1,223) — — — — (1,222) Accretion of redeemable noncontrolling interests and equity — — — — (20) — — — — (20) Net loss — — — — — (164,928) — — (15) (164,943) Foreign currency translation adjustment, net of tax of $0 — — — — — — (59,743) — (18) (59,761) Minimum pension liability adjustment, net of tax of $0 — — — — — — (168) — — (168) Balance at March 31, 2021 122,213 $ 618 73,544 $ 294 $ 3,760,362 $ (341,851) $ (1,001,897) $ (511,122) $ (12,915) $ 1,893,489 Non-cash stock compensation — — — — 3,202 — — — — 3,202 Conversion of Class B shares to Class A shares 2 — (2) — — — — — — — Purchase of treasury stock at cost (7,548) — — — — — — (105,786) — (105,786) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 119 1 — — 359 — — — — 360 Accretion of redeemable noncontrolling interests and equity — — — — (68) — — — — (68) Reclassification of redeemable noncontrolling interests and equity — — — — — — — — (1) (1) Net loss — — — — — (29,000) — — (224) (29,224) Foreign currency translation adjustment, net of tax of $0 — — — — — — 510,445 — (2) 510,443 Minimum pension liability adjustment, net of tax of $0 — — — — — — 27 — — 27 Balance at June 30, 2021 114,786 $ 619 73,542 $ 294 $ 3,763,855 $ (370,851) $ (491,425) $ (616,908) $ (13,142) $ 2,272,442 Non-cash stock compensation — — — — 2,397 — — — — 2,397 Conversion of Class B shares to Class A shares 7,188 29 (7,188) (29) — — — — — — Purchase of treasury stock at cost (7,110) — — — — — — (112,994) — (112,994) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 119 — — — 304 — — — — 304 Change in noncontrolling interests — — — — 90 — — — — 90 Net income — — — — — 360,406 — — (269) 360,137 Special cash distribution accrued on outstanding common stock — — — — (1,271,790) — — — — (1,271,790) Foreign currency translation adjustment, net of tax of $0 — — — — — — (22,648) — 21 (22,627) Balance at September 30, 2021 114,983 $ 648 66,354 $ 265 $ 2,494,856 $ (10,445) $ (514,073) $ (729,902) $ (13,390) $ 1,227,959 The components of net changes in stockholders’ equity for the fiscal quarters of 2020 are as follows: Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock at cost Non-controlling interests Total stockholders’ equity Shares Amount Shares Amount Balance at December 31, 2019 119,575 $ 542 90,831 $ 363 $ 3,724,636 $ 436,509 $ (1,073,981) $ (271,106) $ (12,812) $ 2,804,151 Non-cash stock compensation — — — — 1,984 — — — — 1,984 Conversion of Class B shares to Class A shares 18 — (18) — — — — — — — Purchase of treasury stock at cost (1,619) — — — — — — (29,203) — (29,203) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 1,101 4 — — 25,610 — — — — 25,614 Accretion of redeemable noncontrolling interests and equity — — — — (44) — — — — (44) Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 38 38 Net income — — — — — 99,615 — — (1,299) 98,316 Foreign currency translation adjustment, net of tax of $0 — — — — — — (330,875) — 759 (330,116) Minimum pension liability adjustment, net of tax of $0 — — — — — — (932) — — (932) Balance at March 31, 2020 119,075 $ 546 90,813 $ 363 $ 3,752,186 $ 536,124 $ (1,405,788) $ (300,309) $ (13,314) $ 2,569,808 Non-cash stock compensation — — — — 4,621 — — — — 4,621 Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 132 1 — — (33) — — — — (32) Change in noncontrolling interests — — — — — — — — 3,471 3,471 Accretion of redeemable noncontrolling interests and equity — — — — 201 — — — — 201 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — (414) (414) Net loss — — — — — (307,823) — — (3,805) (311,628) Foreign currency translation adjustment, net of tax of $0 — — — — — — 14,102 — (68) 14,034 Balance at June 30, 2020 119,207 $ 547 90,813 $ 363 $ 3,756,975 $ 228,301 $ (1,391,686) $ (300,309) $ (14,130) $ 2,280,061 Non-cash stock compensation — — — — 3,672 — — — — 3,672 Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 63 — — — (35) — — — — (35) Change in noncontrolling interests — — — — (2,610) — — — — (2,610) Accretion of redeemable noncontrolling interests and equity — — — — 6 — — — — 6 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 1,574 1,574 Net loss — — — — — (784,442) — — 12 (784,430) Foreign currency translation adjustment, net of tax of $0 — — — — — — 326,416 — (74) 326,342 Balance at September 30, 2020 119,270 $ 547 90,813 $ 363 $ 3,758,008 $ (556,141) $ (1,065,270) $ (300,309) $ (12,618) $ 1,824,580 Stock Repurchase Program On November 5, 2020, Laureate’s board of directors announced a stock repurchase program to acquire up to $300,000 of the Company’s Class A common stock. On April 30, 2021, the Company’s board of directors approved an increase of its existing authorization by $200,000, for a total repurchase authorization (including the previously authorized repurchases) of up to $500,000 of the Company’s Class A common stock. The Company’s repurchases may be made 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 Securities Exchange Act of 1934, as amended (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 share repurchase program periodically and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company expects to finance the repurchases with free cash flow, from excess cash and liquidity on-hand, or from its revolving credit facility, or a combination thereof. During the nine months ended September 30, 2021, the Company repurchased 25,059 shares of its outstanding Class A common stock for a total purchase price of $364,586. Special Cash Distribution On September 15, 2021, the board of directors of the Company approved a plan of partial liquidation (the Partial Liquidation Plan) in connection with the previously disclosed sale of Walden e-Learning LLC. Pursuant to the Partial Liquidation Plan, the gross proceeds from the sale of the Walden Group, less expenses related to the sale, will be distributed to the Company’s stockholders before the end of calendar year 2022. Notwithstanding the adoption of the Partial Liquidation Plan, the Company expects to continue operating as a going concern and a publicly traded company. On September 15, 2021 after the adoption of the Partial Liquidation Plan, the Board approved the payment of a special cash distribution (the Distribution) pursuant to the Partial Liquidation Plan equal to $7.01 per each share of the Company’s Class A common stock, par value $0.004 per share, and Class B common stock, par value $0.004 per share, to each holder of record of the common stock on October 6, 2021. The Distribution was paid on October 29, 2021, based on the number of shares outstanding on October 6, 2021. The aggregate amount of the Distribution was $806,652 for Class A common stock and $465,138 for Class B common stock for a total of $1,271,790. Nasdaq determined that the Company’s Class A common stock would trade with "due bills" representing an assignment of the right to receive the Distribution during the period from October 5, 2021 through and including October 29, 2021 (the Due Bill Period). Stockholders who sold their shares during the Due Bill Period were not entitled to receive the Distribution. The Company’s shares began trading ex-dividend on November 1, 2021, the first business day after the payment date. Gross proceeds from the sale include $74,000 held in escrow and approximately $83,600 of restricted cash related to collateralized regulatory obligations associated with activities of the divested business. In accordance with the Partial Liquidation Plan, upon release of escrow amounts and restricted cash, the Company intends to subsequently distribute to stockholders any net proceeds from such amounts in the form of special distributions before December 31, 2022. In connection with the Distribution, the board of directors approved certain required adjustments under the Company’s equity award compensation plans. These required equitable adjustments were effective on November 1, 2021 and will be recorded in the consolidated financial statements during the fourth quarter of 2021. The exercise prices of the Company’s options were reduced by $7.01 per share, and holders of restricted and performance stock units will receive an amount in cash equal to $7.01 per unvested stock unit, payable when such unit vests. If all outstanding stock units vest, the aggregate amount to be paid in respect of the units will be approximately $7,000. Accumulated Other Comprehen sive 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 effective 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, 2021 December 31, 2020 Laureate Education, Inc. Noncontrolling Interests Total Laureate Education, Inc. Noncontrolling Interests Total Foreign currency translation adjustment $ (523,402) $ 959 $ (522,443) $ (951,456) $ 958 $ (950,498) Unrealized gain on derivatives 10,416 — 10,416 10,416 — 10,416 Minimum pension liability adjustment (1,087) — (1,087) (946) — (946) Accumulated other comprehensive loss $ (514,073) $ 959 $ (513,114) $ (941,986) $ 958 $ (941,028)

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2021
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. Prior to their repayment, Laureate’s senior long-term debt arrangements were primarily in USD. Our ability to make debt payments was subject to fluctuations in the value of the USD against foreign currencies, since a majority of our operating cash used to make these payments was 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. We generally intend to hold our derivatives until maturity. 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 Derivative instruments on our Consolidated Balance Sheets, were as follows: September 30, 2021 December 31, 2020 Derivatives not designated as hedging instruments: Current liabilities: Cross currency swaps $ — $ 17,680 Long-term liabilities: Cross currency swaps — 8,144 Total derivative instrument assets $ — $ — Total derivative instrument liabilities $ — $ 25,824 BRL to USD Foreign Currency Swaps In November 2020, in connection with the signing of the sale agreement for its Brazilian operations, Laureate entered into six BRL-to-USD swap agreements. The purpose of these swaps was to mitigate the risk of foreign currency exposure on the expected proceeds from the sale. Two of the swaps were deal contingent, with the settlement date occurring on the second business day following the completion of the sale. On the settlement date, Laureate would deliver the combined notional amount of BRL 1,900,000 (BRL 950,000 for each swap) and receive an amount in USD equal to each swap's notional amount multiplied by each swap's contract rate of exchange at the settlement date. The remaining four swaps were originally put/call options with a maturity date of May 13, 2021, where Laureate could put the combined notional amount of BRL 1,875,000 and call a combined USD amount of $343,783 at an exchange rate of 5.4540 BRL per 1 USD. The terms of these options included deferred premium payments from Laureate to the counterparties of $18,294, which were paid in full in January 2021. During the second quarter of 2021, all four of these swaps were converted to be deal contingent, with the settlement date occurring on the second business day following the aforementioned sale. This conversion resulted in cash proceeds to Laureate of $1,663. On the settlement date, Laureate would deliver the combined notional amount of BRL 1,875,000 and receive an amount in USD equal to each swap’s notional amount multiplied by each swap’s contract rate of exchange at the settlement date. As discussed in Note 5, Dispositions, the sale of Laureate’s Brazilian operations closed on May 28, 2021. Per the terms of the agreements, the swaps were settled on June 2, 2021, which resulted in a realized loss and net settlement amount paid to the counterparties at closing of $33,710. As of December 31, 2020, these swaps were in a liability position and had an aggregate fair value of $25,824, of which $17,680 was recorded in Derivative instruments as a current liability and $8,144 was recorded in Derivative instruments as a long-term liability. These swaps were not designated as hedges for accounting purposes. There was no gain or loss on derivatives in the Consolidated Statements of Operations for the three months ended September 30, 2021 and 2020. Components of the reported Loss on derivatives not designated as hedging instruments in the Consolidated Statements of Operations for the nine months ended September 30, 2021 and 2020 were as follows: For the nine months ended September 30, 2021 2020 Cross currency swaps Unrealized gain $ 25,824 $ — Realized loss (50,341) (626) Loss on derivatives, net $ (24,517) $ (626) 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. Laureate limits 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. As of September 30, 2021 and December 31, 2020, we did not hold any derivatives in a net gain position, and thus had no credit risk. Laureate’s agreements with its derivative counterparties contain a provision under which the Company 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 December 31, 2020, the Company had not breached any default provisions and had not posted any collateral related to these agreements. If the Company had breached any of these provisions, it could have been required to settle the obligations under the derivative agreements for an amount that, at a maximum, the Company believes would approximate their estimated fair values as of December 31, 2020 of $25,824.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes 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, 2021 and 2020 are based on estimated full-year effective tax rates, adjusted for discrete income tax items related specifically to the interim periods. Laureate has operations in multiple countries at various statutory tax rates 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. For the nine months ended September 30, 2021, the Company recognized income t ax (expense) from continuing operations of $(174,163), as compared to income tax benefit from continuing operations of $293,514 in the prior year period. Income tax expense for the nine months ended September 30, 2021 was primarily driven by jurisdictional mix of earnings, changes in income tax reserves and withholding taxes. In addition, during the nine months ended September 30, 2021, the Company recorded discrete tax expense of approximately $35,700 for changes in estimate associated with provision-to-return adjustments for the amended tax returns for 2018 and 2019 and the tax return for 2020, specifically related to the final regulations that were released by the U.S. Treasury Department in July 2020 for the high-tax exception to global intangible low-taxed income. The income tax benefit for the nine months ended September 30, 2020 was primarily driven by the benefit recorded due to the change in tax status of a Netherlands subsidiary, the issuance of GILTI regulations, pretax loss for the period, and jurisdictional mix of earnings. During the first quarter of 2021, the Company recorded an out-of-period adjustment of approximately $12,400 for income tax expense that should have been recorded during 2016 through 2020. The Company concluded that the adjustment was immaterial to the consolidated financial statements for both the current and prior periods.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Our common stock has a dual class structure, consisting of 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 any contingently issuable shares determined using the treasury stock method, and any 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, 2021 2020 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (10,390) $ (271,040) Income attributable to noncontrolling interests (17) (7) Loss from continuing operations attributable to Laureate Education, Inc. (10,407) (271,047) Accretion of redemption value of redeemable noncontrolling interests and equity — 6 Net loss from continuing operations for basic and diluted earnings (loss) per share $ (10,407) $ (271,041) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Income (loss) from discontinued operations, net of tax $ 370,527 $ (513,390) Loss (income) attributable to noncontrolling interests 286 (5) Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share $ 370,813 $ (513,395) Denominator used in basic and diluted earnings (loss) per common share: Basic and diluted weighted average shares outstanding 185,569 210,033 Basic and diluted earnings (loss) per share: Loss from continuing operations $ (0.06) $ (1.29) Income (loss) from discontinued operations 2.00 (2.44) Basic and diluted earnings (loss) per share $ 1.94 $ (3.73) For the nine months ended September 30, 2021 2020 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (290,800) $ (76,503) Loss attributable to noncontrolling interests 9 27 Loss from continuing operations attributable to Laureate Education, Inc. (290,791) (76,476) Accretion of redemption value of redeemable noncontrolling interests and equity (88) 163 Net loss from continuing operations for basic and diluted loss per share $ (290,879) $ (76,313) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Income (loss) from discontinued operations, net of tax $ 456,770 $ (921,239) Loss attributable to noncontrolling interests 499 5,065 Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share $ 457,269 $ (916,174) Denominator used in basic and diluted earnings (loss) per common share: Basic weighted average shares outstanding 192,543 209,920 Basic and diluted earnings (loss) per share: Loss from continuing operations $ (1.51) $ (0.36) Income (loss) from discontinued operations 2.37 (4.36) Basic and diluted earnings (loss) per share $ 0.86 $ (4.72) The following table summarizes the number of stock options and shares of restricted stock units 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, 2021 2020 2021 2020 Stock options 2,845 3,838 3,162 4,205 Restricted stock units 687 727 698 732

Legal and Regulatory Matters

Legal and Regulatory Matters	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal and Regulatory Matters	Legal and Regulatory Matters Laureate is subject to legal proceedings arising in the ordinary course of business. In management’s opinion, we have adequate legal defenses, insurance coverage, and/or accrued liabilities with respect to the eventuality of these actions. Management believes that any settlement would not have a material impact on Laureate’s financial position, results of operations, or cash flows. Our institutions are subject to uncertain and varying laws and regulations, and any changes to these laws or regulations or their application to us may materially adversely affect our business, financial condition and results of operations. Except as set forth below, there have been no material changes to the laws and regulations affecting our higher education institutions that are described in our Annual Report on Form 10-K for the year ended December 31, 2020. Mexican Regulation – COVID-19 Update Administrative activities and limited face-to-face educational activities have resumed at all campuses. Education was determined to be an essential activity for the country and thus no longer restrained by the country’s color-coded sanitary alert system. Peruvian Regulation COVID-19 Update Peru’s national sanitary emergency has been extended until March 2022 in an effort to prevent a third wave of COVID-19. Lima’s emergency status has been upgraded as a result of increasing vaccination rates and significantly decreasing COVID-19 infection rates. Economic activities are close to pre-pandemic levels, however, presential gathering, such as in-person instruction, are still suspended in most cases. Nevertheless, the government has announced that face-to-face classes at higher education institutions may resume in 2022, initially semi-presential. The actual resumption of classes will depend upon COVID-19 infection rates at such time. Peruvian Nonresident Capital Gains Tax Holders who sell, exchange, or otherwise dispose of Company shares may be subject to Peruvian tax at a rate of 30% on their gain realized in such transaction determined under certain Peruvian valuation rules regardless of whether the transaction is taxable for non-Peruvian purposes. In determining the amount of such gain subject to such tax, the gain is first multiplied by the percentage of the Company’s value that is represented by its Peruvian business determined under certain Peruvian valuation rules (the “Peru Ratio”). This tax applies if the value of stock determined under certain Peruvian valuation rules (calculated in PEN) transferred multiplied by the Peru Ratio exceeds approximately $42,500 applying the PEN/USD exchange rate of September 30, 2021 (the “Threshold”). The Threshold is calculated in PEN and changes with currency exchange rates. For purposes of determining whether the Threshold has been exceeded by any holder, all transfers made by such holder over any 12-month period are aggregated. For purposes of determining whether any tax is owed, the holder must have their basis “certified” by the Peruvian tax authorities in advance of such transaction. If the holder exceeds the Threshold and does not obtain a tax basis certificate before the transaction, the holder’s tax basis in the shares will be considered zero for Peruvian tax purposes.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 2021
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. In instances where the determination of fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety, as required under ASC 820-10, "Fair Value Measurement." Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. 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. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by ourself and our counterparties. We have determined that the significance of the impact of the credit valuation adjustments made to our derivative contracts, which determination was based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all of our derivatives held as of December 31, 2020 were classified as Level 2 of the fair value hierarchy. As of September 30, 2021, Laureate did not hold any financial assets or liabilities that are 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 December 31, 2020 were as follows: Total Level 1 Level 2 Level 3 Assets Derivative instruments $ — $ — $ — $ — Liabilities Derivative instruments $ 25,824 $ — $ 25,824 $ —

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2021
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, 2020 balance. The September 30, 2021 and September 30, 2020 balances sum to the amounts shown in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2021 and 2020: September 30, 2021 September 30, 2020 December 31, 2020 Cash and cash equivalents $ 1,856,856 $ 716,799 $ 750,147 Restricted cash 104,999 30,857 117,151 Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows $ 1,961,855 $ 747,656 $ 867,298 Restricted cash represents cash that is not immediately available for use in current operations and primarily includes cash held to collateralize standby letters of credit. See also Note 10, Commitments and Contingencies.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Accounting Standards Update (ASU) No. 2019-12 (ASU 2019-12), Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, which removes certain exceptions for performing intraperiod tax allocations, recognizing deferred taxes for investments, and calculating income taxes in interim periods. The guidance also simplifies the accounting for franchise taxes, transactions that result in a step-up in the tax basis of goodwill, and the effect of enacted changes in tax laws or rates in interim periods. The Company adopted ASU 2019-12 in the first quarter of 2021 and the adoption had no material impact to our Consolidated Financial Statements.
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
Business and Geographic Segment Information	Laureate’s educational services are offered through two reportable segments: Mexico and Peru. Laureate determines its segments based on information utilized by the chief operating decision maker to allocate resources and assess performance. Our segments generate revenues by providing an education that emphasizes profession-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 onli ne and in-classroom) courses and programs to deliver their curriculum. In response to the COVID-19 pandemic, we h ave temporarily tran sitioned the educational delivery method at all of our institutions to be online and are leveraging our existing technologies and learning platforms to serve students outside of the traditional classroom setting. The Mexico and Peru markets are characterized by what we believe is a significant imbalance between supply and demand. The demand for higher education is large and growing and is fueled by several demographic and economic factors, including a growing middle class, global growth in services and technology-related industries and recognition of the significant personal and economic benefits gained by graduates of higher education institutions. The target demographics are primarily 18- to 24-year-olds in the countries in which we compete. We compete with other private higher education institutions on the basis of price, educational quality, reputation and location. We believe that we compare favorably with competitors because of our focus on quality, professional-oriented curriculum. There are a number of private and public institutions in both of the countries in which we operate, and it is difficult to predict how the markets will evolve and how many competitors there will be in the future. We expect competition to increase as the Mexican and Peruvian markets mature. Essentially all of our revenues were generated from private pay sources as there are no material government-sponsored loan programs in Mexico or Peru. Specifics related to both of our reportable segments are discussed below. Private education providers in Mexico constitute 35% of the total higher-education market. The private sector plays a meaningful role in higher education, bridging supply and demand imbalances created by a lack of capacity at public universities. Laureate owns two institutions and is present throughout the country with a footprint of over 35 campuses. Each institution in Mexico has a national license. Students in our Mexican institutions typically finance their own education. In Peru, private universities are increasingly providing the capacity to meet growing demand and constitute 72% of the total higher-education market. Laureate owns three institutions in Peru. 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. As a result, the Discontinued Operations have been excluded from the segment information for all periods presented. Inter-segment 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 inter-segment 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: Gain (loss) on disposal of subsidiaries, net, Foreign currency exchange (loss) gain, net, Other (expense) income, net, Loss 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), 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, an enterprise-wide program aimed at revenue growth, and certain non-recurring costs incurred in connection with the dispositions described in Note 5, Dispositions.
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. Prior to their repayment, Laureate’s senior long-term debt arrangements were primarily in USD. Our ability to make debt payments was subject to fluctuations in the value of the USD against foreign currencies, since a majority of our operating cash used to make these payments was 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. We generally intend to hold our derivatives until maturity. 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	Our common stock has a dual class structure, consisting of 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 any contingently issuable shares determined using the treasury stock method, and any convertible securities using the if-converted method.
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. In instances where the determination of fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety, as required under ASC 820-10, "Fair Value Measurement." Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
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 revenue for the three months ended September 30, 2021 and 2020: Mexico Peru Corporate (1) Total 2021 Tuition and educational services $ 160,117 $ 129,715 $ — $ 289,832 108 % Other 25,813 12,959 3,309 42,081 16 % Gross revenue 185,930 142,674 3,309 331,913 124 % Less: Discounts / waivers / scholarships (54,669) (9,553) — (64,222) (24) % Total $ 131,261 $ 133,121 $ 3,309 $ 267,691 100 % 2020 Tuition and educational services $ 141,897 $ 126,455 $ — $ 268,352 110 % Other 17,491 11,718 260 29,469 12 % Gross revenue $ 159,388 $ 138,173 $ 260 $ 297,821 122 % Less: Discounts / waivers / scholarships (43,439) (10,859) — (54,298) (22) % Total $ 115,949 $ 127,314 $ 260 $ 243,523 100 % (1) Includes the elimination of inter-segment revenues. The following table shows the components of Revenues by reportable segment and as a percentage of total revenue for the nine months ended September 30, 2021 and 2020: Mexico Peru Corporate (1) Total 2021 Tuition and educational services $ 483,854 $ 386,189 $ — $ 870,043 110 % Other 67,139 35,405 6,751 109,295 14 % Gross revenue 550,993 421,594 6,751 979,338 124 % Less: Discounts / waivers / scholarships (160,052) (29,315) — (189,367) (24) % Total $ 390,941 $ 392,279 $ 6,751 $ 789,971 100 % 2020 Tuition and educational services $ 442,470 $ 352,949 $ — $ 795,419 108 % Other 56,845 29,456 3,264 89,565 12 % Gross revenue $ 499,315 $ 382,405 $ 3,264 $ 884,984 120 % Less: Discounts / waivers / scholarships (114,294) (30,992) — (145,286) (20) % Total $ 385,021 $ 351,413 $ 3,264 $ 739,698 100 % (1) Includes the elimination of inter-segment revenues.

Discontinued Operations and A_2

Discontinued Operations and Assets Held for Sale (Tables)	9 Months Ended
	Sep. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Summary of major classes of assets and liabilities reclassified to held for sale	Summarized operating results and cash flows of the Discontinued Operations are presented in the following tables: For the three months ended September 30, 2021 2020 Revenues $ 70,787 $ 459,442 Depreciation and amortization expense — (13,656) Share-based compensation expense (371) (1,045) Other direct costs (58,123) (340,657) Loss on impairment of assets — (10,275) Other non-operating expense (4,938) (14,731) Gain (loss) on sale of discontinued operations before taxes, net 612,010 (488,674) Pretax income (loss) of discontinued operations 619,365 (409,596) Income tax expense (248,838) (103,794) Income (loss) from discontinued operations, net of tax $ 370,527 $ (513,390) For the nine months ended September 30, 2021 2020 Revenues $ 542,650 $ 1,342,298 Depreciation and amortization expense — (60,168) Share-based compensation expense (1,198) (2,378) Other direct costs (430,789) (1,070,362) Loss on impairment of assets (1,268) (431,587) Other non-operating expense (20,489) (79,807) Gain (loss) on sale of discontinued operations before taxes, net 625,304 (523,667) Pretax income (loss) of discontinued operations 714,210 (825,671) Income tax expense (257,440) (95,568) Income (loss) from discontinued operations, net of tax $ 456,770 $ (921,239) Operating cash flows of discontinued operations $ 16,420 $ 248,972 Investing cash flows of discontinued operations $ (11,161) $ (40,578) Financing cash flows of discontinued operations $ (18,054) $ 8,725 September 30, 2021 December 31, 2020 Assets of Discontinued Operations Cash and cash equivalents $ 3,157 $ 270,164 Receivables, net 1,000 113,386 Property and equipment, net 8,645 259,471 Goodwill and Tradenames — 1,202,496 Operating lease right-of-use assets, net 6,892 136,806 Other assets 569 183,742 Valuation allowance on held-for-sale disposal groups — (248,630) Total assets held for sale $ 20,263 $ 1,917,435 Liabilities of Discontinued Operations Deferred revenue and student deposits $ 198 $ 87,793 Operating leases, including current portion 12,034 151,413 Long-term debt, seller notes and finance leases, including current portion — 171,451 Other liabilities 4,388 291,599 Total liabilities held for sale $ 16,620 $ 702,256

Business and Geographic Segme_2

Business and Geographic Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
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 Income (loss) 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, 2021 2020 2021 2020 Revenues Mexico $ 131,261 $ 115,949 $ 390,941 $ 385,021 Peru 133,121 127,314 392,279 351,413 Corporate 3,309 260 6,751 3,264 Revenues $ 267,691 $ 243,523 $ 789,971 $ 739,698 Adjusted EBITDA of reportable segments Mexico $ 27,047 $ 15,530 $ 61,503 $ 58,544 Peru 70,791 56,474 196,016 128,975 Total Adjusted EBITDA of reportable segments 97,838 72,004 257,519 187,519 Reconciling items: Corporate (21,955) (21,636) (64,866) (72,439) Depreciation and amortization expense (25,872) (18,186) (75,617) (55,949) Loss on impairment of assets (3,292) (323,397) (67,161) (350,939) Share-based compensation expense (2,026) (2,627) (5,977) (7,899) EiP expenses (9,587) (24,393) (37,499) (66,471) Operating income (loss) 35,106 (318,235) 6,399 (366,178) Interest income 1,268 684 2,456 1,594 Interest expense (3,736) (24,703) (40,795) (75,698) Loss on debt extinguishment — — (77,940) — Loss on derivatives — — (24,517) (626) Other (expense) income, net (46) 1,300 (67) 814 Foreign currency gain (loss), net 6,085 (2,907) 18,749 71,074 (Loss) gain on disposal of subsidiaries, net (949) 622 (922) (1,178) Income (loss) from continuing operations before income taxes and equity in net income of affiliates $ 37,728 $ (343,239) $ (116,637) $ (370,198)
Schedule of long-lived assets by geographic areas	September 30, 2021 December 31, 2020 Assets Mexico $ 1,326,223 $ 1,278,198 Peru 539,860 623,294 Corporate and Discontinued Operations 2,048,273 3,069,402 Total assets $ 3,914,356 $ 4,970,894

Goodwill and Loss on Impairme_2

Goodwill and Loss on Impairment of Assets (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2020 through September 30, 2021 was composed of the following items: Mexico Peru Total Balance at December 31, 2020 $ 500,250 $ 74,582 $ 574,832 Currency translation adjustments (6,174) (9,375) (15,549) Balance at September 30, 2021 $ 494,076 $ 65,207 $ 559,283

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt outstanding	Outstanding long-term debt was as follows: September 30, 2021 December 31, 2020 Senior long-term debt: Senior Secured Credit Facility (stated maturity date October 2024) $ — $ — Senior Notes (stated maturity date May 2025) — 798,725 Total senior long-term debt — 798,725 Other debt: Lines of credit 9,779 59,014 Notes payable and other debt 109,421 138,630 Total senior and other debt 119,200 996,369 Finance lease obligations and sale-leaseback financings 46,502 52,639 Total long-term debt and finance leases 165,702 1,049,008 Less: total unamortized deferred financing costs 3,969 53,292 Less: current portion of long-term debt and finance leases 49,918 95,818 Long-term debt and finance leases, less current portion $ 111,815 $ 899,898
Schedule estimated fair values of debt	The estimated fair value of our debt was as follows: December 31, 2020 Carrying amount Estimated fair value Total senior and other debt $ 996,369 $ 1,043,294

Share-based Compensation (Table

Share-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 2020 2021 2020 Continuing operations Stock options, net of estimated forfeitures $ 72 $ 297 $ 349 $ 1,024 Restricted stock awards 1,954 2,330 5,628 6,875 Total continuing operations $ 2,026 $ 2,627 $ 5,977 $ 7,899 Discontinued operations Share-based compensation expense for discontinued operations 371 1,045 1,198 2,378 Total continuing and discontinued operations $ 2,397 $ 3,672 $ 7,175 $ 10,277

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Components of net changes in stockholders' equity	The components of net changes in stockholders’ equity for the fiscal quarters of 2021 are as follows: Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital Accumulated deficit Accumulated other comprehensive loss Treasury stock at cost Non-controlling interests Total stockholders’ equity Shares Amount Shares Amount Balance at December 31, 2020 115,119 $ 548 90,792 $ 363 $ 3,760,029 $ (176,822) $ (941,986) $ (365,316) $ (12,882) $ 2,263,934 Beginning retained earnings adjustment — — — — — (101) — — — (101) Non-cash stock compensation — — — — 1,576 — — — — 1,576 Conversion of Class B shares to Class A shares 17,248 69 (17,248) (69) — — — — — — Purchase of treasury stock at cost (10,401) — — — — — — (145,806) — (145,806) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 247 1 — — (1,223) — — — — (1,222) Accretion of redeemable noncontrolling interests and equity — — — — (20) — — — — (20) Net loss — — — — — (164,928) — — (15) (164,943) Foreign currency translation adjustment, net of tax of $0 — — — — — — (59,743) — (18) (59,761) Minimum pension liability adjustment, net of tax of $0 — — — — — — (168) — — (168) Balance at March 31, 2021 122,213 $ 618 73,544 $ 294 $ 3,760,362 $ (341,851) $ (1,001,897) $ (511,122) $ (12,915) $ 1,893,489 Non-cash stock compensation — — — — 3,202 — — — — 3,202 Conversion of Class B shares to Class A shares 2 — (2) — — — — — — — Purchase of treasury stock at cost (7,548) — — — — — — (105,786) — (105,786) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 119 1 — — 359 — — — — 360 Accretion of redeemable noncontrolling interests and equity — — — — (68) — — — — (68) Reclassification of redeemable noncontrolling interests and equity — — — — — — — — (1) (1) Net loss — — — — — (29,000) — — (224) (29,224) Foreign currency translation adjustment, net of tax of $0 — — — — — — 510,445 — (2) 510,443 Minimum pension liability adjustment, net of tax of $0 — — — — — — 27 — — 27 Balance at June 30, 2021 114,786 $ 619 73,542 $ 294 $ 3,763,855 $ (370,851) $ (491,425) $ (616,908) $ (13,142) $ 2,272,442 Non-cash stock compensation — — — — 2,397 — — — — 2,397 Conversion of Class B shares to Class A shares 7,188 29 (7,188) (29) — — — — — — Purchase of treasury stock at cost (7,110) — — — — — — (112,994) — (112,994) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 119 — — — 304 — — — — 304 Change in noncontrolling interests — — — — 90 — — — — 90 Net income — — — — — 360,406 — — (269) 360,137 Special cash distribution accrued on outstanding common stock — — — — (1,271,790) — — — — (1,271,790) Foreign currency translation adjustment, net of tax of $0 — — — — — — (22,648) — 21 (22,627) Balance at September 30, 2021 114,983 $ 648 66,354 $ 265 $ 2,494,856 $ (10,445) $ (514,073) $ (729,902) $ (13,390) $ 1,227,959 The components of net changes in stockholders’ equity for the fiscal quarters of 2020 are as follows: Laureate Education, Inc. Stockholders Class A Class B Additional paid-in capital Retained earnings Accumulated other comprehensive loss Treasury stock at cost Non-controlling interests Total stockholders’ equity Shares Amount Shares Amount Balance at December 31, 2019 119,575 $ 542 90,831 $ 363 $ 3,724,636 $ 436,509 $ (1,073,981) $ (271,106) $ (12,812) $ 2,804,151 Non-cash stock compensation — — — — 1,984 — — — — 1,984 Conversion of Class B shares to Class A shares 18 — (18) — — — — — — — Purchase of treasury stock at cost (1,619) — — — — — — (29,203) — (29,203) Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 1,101 4 — — 25,610 — — — — 25,614 Accretion of redeemable noncontrolling interests and equity — — — — (44) — — — — (44) Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 38 38 Net income — — — — — 99,615 — — (1,299) 98,316 Foreign currency translation adjustment, net of tax of $0 — — — — — — (330,875) — 759 (330,116) Minimum pension liability adjustment, net of tax of $0 — — — — — — (932) — — (932) Balance at March 31, 2020 119,075 $ 546 90,813 $ 363 $ 3,752,186 $ 536,124 $ (1,405,788) $ (300,309) $ (13,314) $ 2,569,808 Non-cash stock compensation — — — — 4,621 — — — — 4,621 Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 132 1 — — (33) — — — — (32) Change in noncontrolling interests — — — — — — — — 3,471 3,471 Accretion of redeemable noncontrolling interests and equity — — — — 201 — — — — 201 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — (414) (414) Net loss — — — — — (307,823) — — (3,805) (311,628) Foreign currency translation adjustment, net of tax of $0 — — — — — — 14,102 — (68) 14,034 Balance at June 30, 2020 119,207 $ 547 90,813 $ 363 $ 3,756,975 $ 228,301 $ (1,391,686) $ (300,309) $ (14,130) $ 2,280,061 Non-cash stock compensation — — — — 3,672 — — — — 3,672 Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding 63 — — — (35) — — — — (35) Change in noncontrolling interests — — — — (2,610) — — — — (2,610) Accretion of redeemable noncontrolling interests and equity — — — — 6 — — — — 6 Reclassification of redeemable noncontrolling interests and equity — — — — — — — — 1,574 1,574 Net loss — — — — — (784,442) — — 12 (784,430) Foreign currency translation adjustment, net of tax of $0 — — — — — — 326,416 — (74) 326,342 Balance at September 30, 2020 119,270 $ 547 90,813 $ 363 $ 3,758,008 $ (556,141) $ (1,065,270) $ (300,309) $ (12,618) $ 1,824,580
Schedule of accumulated other comprehensive income (loss)	The components of these balances were as follows: September 30, 2021 December 31, 2020 Laureate Education, Inc. Noncontrolling Interests Total Laureate Education, Inc. Noncontrolling Interests Total Foreign currency translation adjustment $ (523,402) $ 959 $ (522,443) $ (951,456) $ 958 $ (950,498) Unrealized gain on derivatives 10,416 — 10,416 10,416 — 10,416 Minimum pension liability adjustment (1,087) — (1,087) (946) — (946) Accumulated other comprehensive loss $ (514,073) $ 959 $ (513,114) $ (941,986) $ 958 $ (941,028)

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
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 Derivative instruments on our Consolidated Balance Sheets, were as follows: September 30, 2021 December 31, 2020 Derivatives not designated as hedging instruments: Current liabilities: Cross currency swaps $ — $ 17,680 Long-term liabilities: Cross currency swaps — 8,144 Total derivative instrument assets $ — $ — Total derivative instrument liabilities $ — $ 25,824
Components of the reported gain (loss) on derivatives not designated as hedging instruments	Components of the reported Loss on derivatives not designated as hedging instruments in the Consolidated Statements of Operations for the nine months ended September 30, 2021 and 2020 were as follows: For the nine months ended September 30, 2021 2020 Cross currency swaps Unrealized gain $ 25,824 $ — Realized loss (50,341) (626) Loss on derivatives, net $ (24,517) $ (626)

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
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, 2021 2020 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (10,390) $ (271,040) Income attributable to noncontrolling interests (17) (7) Loss from continuing operations attributable to Laureate Education, Inc. (10,407) (271,047) Accretion of redemption value of redeemable noncontrolling interests and equity — 6 Net loss from continuing operations for basic and diluted earnings (loss) per share $ (10,407) $ (271,041) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Income (loss) from discontinued operations, net of tax $ 370,527 $ (513,390) Loss (income) attributable to noncontrolling interests 286 (5) Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share $ 370,813 $ (513,395) Denominator used in basic and diluted earnings (loss) per common share: Basic and diluted weighted average shares outstanding 185,569 210,033 Basic and diluted earnings (loss) per share: Loss from continuing operations $ (0.06) $ (1.29) Income (loss) from discontinued operations 2.00 (2.44) Basic and diluted earnings (loss) per share $ 1.94 $ (3.73) For the nine months ended September 30, 2021 2020 Numerator used in basic and diluted earnings (loss) per common share for continuing operations: Loss from continuing operations $ (290,800) $ (76,503) Loss attributable to noncontrolling interests 9 27 Loss from continuing operations attributable to Laureate Education, Inc. (290,791) (76,476) Accretion of redemption value of redeemable noncontrolling interests and equity (88) 163 Net loss from continuing operations for basic and diluted loss per share $ (290,879) $ (76,313) Numerator used in basic and diluted earnings (loss) per common share for discontinued operations: Income (loss) from discontinued operations, net of tax $ 456,770 $ (921,239) Loss attributable to noncontrolling interests 499 5,065 Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share $ 457,269 $ (916,174) Denominator used in basic and diluted earnings (loss) per common share: Basic weighted average shares outstanding 192,543 209,920 Basic and diluted earnings (loss) per share: Loss from continuing operations $ (1.51) $ (0.36) Income (loss) from discontinued operations 2.37 (4.36) Basic and diluted earnings (loss) per share $ 0.86 $ (4.72)
Schedule of antidilutive securities excluded from computation of earnings per share	The following table summarizes the number of stock options and shares of restricted stock units 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, 2021 2020 2021 2020 Stock options 2,845 3,838 3,162 4,205 Restricted stock units 687 727 698 732

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of fair value, assets and liabilities measured on recurring basis	As of September 30, 2021, Laureate did not hold any financial assets or liabilities that are 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 December 31, 2020 were as follows: Total Level 1 Level 2 Level 3 Assets Derivative instruments $ — $ — $ — $ — Liabilities Derivative instruments $ 25,824 $ — $ 25,824 $ —

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of cash and cash equivalents	The September 30, 2021 and September 30, 2020 balances sum to the amounts shown in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2021 and 2020: September 30, 2021 September 30, 2020 December 31, 2020 Cash and cash equivalents $ 1,856,856 $ 716,799 $ 750,147 Restricted cash 104,999 30,857 117,151 Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows $ 1,961,855 $ 747,656 $ 867,298
Schedule of restricted cash	The September 30, 2021 and September 30, 2020 balances sum to the amounts shown in the Consolidated Statements of Cash Flows for the nine months ended September 30, 2021 and 2020: September 30, 2021 September 30, 2020 December 31, 2020 Cash and cash equivalents $ 1,856,856 $ 716,799 $ 750,147 Restricted cash 104,999 30,857 117,151 Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows $ 1,961,855 $ 747,656 $ 867,298

Revenue - Schedule of Component

Revenue - Schedule of Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 267,691	$ 243,523	$ 789,971	$ 739,698
Percent of net revenues	100.00%	100.00%	100.00%	100.00%
Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	$ 289,832	$ 268,352	$ 870,043	$ 795,419
Percent of net revenues	108.00%	110.00%	110.00%	108.00%
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 42,081	$ 29,469	$ 109,295	$ 89,565
Percent of net revenues	16.00%	12.00%	14.00%	12.00%
Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 331,913	$ 297,821	$ 979,338	$ 884,984
Percent of net revenues	124.00%	122.00%	124.00%	120.00%
Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	$ 64,222	$ 54,298	$ 189,367	$ 145,286
Percent of net revenues	(24.00%)	(22.00%)	(24.00%)	(20.00%)
Operating Segments | Mexico
Disaggregation of Revenue [Line Items]
Revenue	$ 131,261	$ 115,949	$ 390,941	$ 385,021
Operating Segments | Mexico | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	160,117	141,897	483,854	442,470
Operating Segments | Mexico | Other
Disaggregation of Revenue [Line Items]
Revenue	25,813	17,491	67,139	56,845
Operating Segments | Mexico | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	185,930	159,388	550,993	499,315
Operating Segments | Mexico | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	54,669	43,439	160,052	114,294
Operating Segments | Peru
Disaggregation of Revenue [Line Items]
Revenue	133,121	127,314	392,279	351,413
Operating Segments | Peru | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	129,715	126,455	386,189	352,949
Operating Segments | Peru | Other
Disaggregation of Revenue [Line Items]
Revenue	12,959	11,718	35,405	29,456
Operating Segments | Peru | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	142,674	138,173	421,594	382,405
Operating Segments | Peru | Less: Discounts / waivers / scholarships
Disaggregation of Revenue [Line Items]
Revenue	9,553	10,859	29,315	30,992
Corporate
Disaggregation of Revenue [Line Items]
Revenue	3,309	260	6,751	3,264
Corporate | Tuition and educational services
Disaggregation of Revenue [Line Items]
Revenue	0	0	0	0
Corporate | Other
Disaggregation of Revenue [Line Items]
Revenue	3,309	260	6,751	3,264
Corporate | Gross revenue
Disaggregation of Revenue [Line Items]
Revenue	3,309	260	6,751	3,264
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, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Accounts and notes receivable	$ 113,844	$ 138,738
Deferred revenue and student deposits, current	68,300	$ 47,180
Revenue recognized	$ 38,764

Discontinued Operations and A_3

Discontinued Operations and Assets Held for Sale - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on Brazil held-for-sale disposal group		$ 68,429	$ 782,526
Brazil | Anima | Discontinued Operations | Rede
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on Brazil held-for-sale disposal group	$ 32,400

Discontinued Operations and A_4

Discontinued Operations and Assets Held for Sale - Summarized operating results of the Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of discontinued operations before taxes, net	$ 370,527	$ (513,390)	$ 456,770	$ (921,239)
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	70,787	459,442	542,650	1,342,298
Depreciation and amortization expense	0	(13,656)	0	(60,168)
Share-based compensation expense	(371)	(1,045)	(1,198)	(2,378)
Other direct costs	(58,123)	(340,657)	(430,789)	(1,070,362)
Loss on impairment of assets	0	(10,275)	(1,268)	(431,587)
Other non-operating expense	(4,938)	(14,731)	(20,489)	(79,807)
Gain (loss) on sale of discontinued operations before taxes, net	612,010	(488,674)	625,304	(523,667)
Pretax income (loss) of discontinued operations	619,365	(409,596)	714,210	(825,671)
Income tax expense	(248,838)	(103,794)	(257,440)	(95,568)
Income (loss) from discontinued operations, net of tax	$ 370,527	$ (513,390)	456,770	(921,239)
Operating cash flows of discontinued operations			16,420	248,972
Investing cash flows of discontinued operations			(11,161)	(40,578)
Financing cash flows of discontinued operations			$ (18,054)	$ 8,725

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, 2021	Dec. 31, 2020
Assets of Discontinued Operations
Subtotal: assets of Discontinued Operations	$ 20,263	$ 1,917,435
Liabilities of Discontinued Operations
Total liabilities held for sale	16,620	702,256
Discontinued operations
Liabilities of Discontinued Operations
Deferred revenue and student deposits	198	87,793
Operating leases, including current portion	12,034	151,413
Long-term debt, seller notes and finance leases, including current portion	0	171,451
Other liabilities	4,388	291,599
Discontinued Operations, Held-for-sale
Assets of Discontinued Operations
Cash and cash equivalents	3,157	270,164
Receivables, net	1,000	113,386
Property and equipment, net	8,645	259,471
Goodwill and Tradenames	0	1,202,496
Operating lease right-of-use assets, net	6,892	136,806
Other assets	569	183,742
Valuation allowance on held-for-sale disposal groups	$ 0	$ (248,630)

Dispositions (Details)

Dispositions (Details) $ in Thousands, $ in Thousands	Sep. 10, 2021USD ($)	Aug. 12, 2021USD ($)	May 28, 2021USD ($)	Apr. 30, 2021USD ($)	Apr. 30, 2021HKD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Mar. 08, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restricted cash						$ 104,999	$ 104,999		$ 117,151	$ 30,857
Anima | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of business						$ (26,100)	(26,100)
Cash proceeds received			$ 625,500
Consideration for business transferred, gross of cash sold			$ 121,000,000
Fundacion Nasser | Discontinued Operations, Disposed of by Sale | Honduras
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration received from dispositions								$ 24,000
Funds held in escrow								$ 2,000
Percentage of funds held in escrow to be released in 18 months								50.00%
Percentage of funds held in escrow to be released in 24 months								25.00%
Percentage of funds held in escrow to be released in 36 months								25.00%
Gain (loss) on sale of business							1,700
Fundacion Nasser | Discontinued Operations, Disposed of by Sale | Chile
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from collection of escrow in notes receivable	$ 21,500
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							$ (13,600)
Cash proceeds received				$ 21,650	$ 168,284
Walden e-Learning, LLC | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale of business		$ (615,200)
Proceeds from divestiture of businesses, net of cash divested		1,397,200
Restricted cash		83,600
Amount receivable		74,000						$ 74,000
Estimated tax expense		$ 278,000

Business and Geographic Segme_3

Business and Geographic Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2021segmenteducationalInstitutioncampus
Segment Reporting Information [Line Items]
Number of operating segments (segment) | segment	2
Mexico
Segment Reporting Information [Line Items]
Number of postsecondary educational institutions (educational institution)	2
Number of campuses of postsecondary educational institutions (campus) | campus	35
Peru
Segment Reporting Information [Line Items]
Number of postsecondary educational institutions (educational institution)	3

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 267,691	$ 243,523	$ 789,971	$ 739,698
Reconciling items:
Loss on impairment of assets	(3,292)	(323,397)	(67,161)	(350,939)
Share-based compensation expense	(2,397)	(3,672)	(7,175)	(10,277)
Operating income (loss)	35,106	(318,235)	6,399	(366,178)
Interest income	1,268	684	2,456	1,594
Interest expense	(3,736)	(24,703)	(40,795)	(75,698)
Loss on debt extinguishment			(77,940)	0
Loss on derivatives			(24,517)	(626)
Other (expense) income, net	(46)	1,300	(67)	814
Foreign currency exchange gain, net	6,085	(2,907)	18,749	71,074
(Loss) gain on disposal of subsidiaries, net	(949)	622	(922)	(1,178)
Income (loss) from continuing operations before income taxes and equity in net income of affiliates	37,728	(343,239)	(116,637)	(370,198)
Corporate
Segment Reporting Information [Line Items]
Revenues	3,309	260	6,751	3,264
Segment Reconciling Items
Segment Reporting Information [Line Items]
Adjusted EBITDA of reportable segments	97,838	72,004	257,519	187,519
Reconciling items:
Corporate	(21,955)	(21,636)	(64,866)	(72,439)
Depreciation and amortization expense	(25,872)	(18,186)	(75,617)	(55,949)
Loss on impairment of assets	(3,292)	(323,397)	(67,161)	(350,939)
Share-based compensation expense	(2,026)	(2,627)	(5,977)	(7,899)
EiP expenses	(9,587)	(24,393)	(37,499)	(66,471)
Operating income (loss)	35,106	(318,235)	6,399	(366,178)
Interest income	1,268	684	2,456	1,594
Interest expense	(3,736)	(24,703)	(40,795)	(75,698)
Loss on debt extinguishment	0	0	(77,940)	0
Loss on derivatives	0	0	(24,517)	(626)
Other (expense) income, net	(46)	1,300	(67)	814
Foreign currency exchange gain, net	6,085	(2,907)	18,749	71,074
(Loss) gain on disposal of subsidiaries, net	(949)	622	(922)	(1,178)
Mexico | Operating Segments
Segment Reporting Information [Line Items]
Revenues	131,261	115,949	390,941	385,021
Mexico | Segment Reconciling Items
Segment Reporting Information [Line Items]
Adjusted EBITDA of reportable segments	27,047	15,530	61,503	58,544
Peru | Operating Segments
Segment Reporting Information [Line Items]
Revenues	133,121	127,314	392,279	351,413
Peru | Segment Reconciling Items
Segment Reporting Information [Line Items]
Adjusted EBITDA of reportable segments	$ 70,791	$ 56,474	$ 196,016	$ 128,975

Business and Geographic Segme_5

Business and Geographic Segment Information - Schedule of Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Assets	$ 3,914,356	$ 4,970,894
Operating Segments | Mexico
Segment Reporting Information [Line Items]
Assets	1,326,223	1,278,198
Operating Segments | Peru
Segment Reporting Information [Line Items]
Assets	539,860	623,294
Corporate and Discontinued Operations
Segment Reporting Information [Line Items]
Assets	$ 2,048,273	$ 3,069,402

Goodwill and Loss on Impairme_3

Goodwill and Loss on Impairment of Assets - Summary of Change in the Net Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2020	$ 574,832
Currency translation adjustments	(15,549)
Balance at September 30, 2021	559,283
Mexico
Goodwill [Roll Forward]
Balance at December 31, 2020	500,250
Currency translation adjustments	(6,174)
Balance at September 30, 2021	494,076
Peru
Goodwill [Roll Forward]
Balance at December 31, 2020	74,582
Currency translation adjustments	(9,375)
Balance at September 30, 2021	$ 65,207

Goodwill and Loss on Impairme_4

Goodwill and Loss on Impairment of Assets - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Goodwill [Line Items]
Tradenames	$ 150,610	$ 225,573
Trade Names
Goodwill [Line Items]
Impairment of intangible assets, finite-lived	51,400
Tradenames	$ 5,825

Debt - Schedule of Long-term De

Debt - Schedule of Long-term Debt Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Finance lease obligations and sale-leaseback financings	$ 46,502	$ 52,639
Total long-term debt and finance leases	165,702	1,049,008
Less: total unamortized deferred financing costs	3,969	53,292
Less: current portion of long-term debt and finance leases	49,918	95,818
Long-term debt and finance leases, less current portion	111,815	899,898
Senior Notes (stated maturity date May 2025)
Debt Instrument [Line Items]
Total senior and other debt	0	798,725
Lines of credit
Debt Instrument [Line Items]
Total senior and other debt	9,779	59,014
Notes payable and other debt
Debt Instrument [Line Items]
Total senior and other debt	109,421	138,630
Total senior and other debt
Debt Instrument [Line Items]
Total senior and other debt	119,200	996,369
Senior Long-term Debt
Debt Instrument [Line Items]
Total senior and other debt	0	798,725
Secured Credit Facility | Senior Secured Credit Facility
Debt Instrument [Line Items]
Total senior and other debt	$ 0	$ 0

Debt - Schedule Estimated Fair

Debt - Schedule Estimated Fair Values of Debt (Details) $ in Thousands	Dec. 31, 2020USD ($)
Carrying amount
Debt Instrument [Line Items]
Total senior and other debt	$ 996,369
Estimated fair value
Debt Instrument [Line Items]
Total senior and other debt	$ 1,043,294

Debt - Senior Debt (Details)

Debt - Senior Debt (Details) - USD ($)	May 28, 2021	May 04, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument, Redemption [Line Items]
Loss on debt extinguishment			$ 77,940,000	$ 0
Senior Secured Credit Facility | Secured Credit Facility
Debt Instrument, Redemption [Line Items]
Maximum borrowing capacity under credit facility			410,000,000
Senior Notes
Debt Instrument, Redemption [Line Items]
Loss on debt extinguishment			$ 77,900,000
Senior Notes | Senior Notes, 8.250%, Due 2025
Debt Instrument, Redemption [Line Items]
Proceeds from redemption of senior debt	$ 298,725,000	$ 500,000
Interest Rate %			8.25%
Redemption price, as a percentage	104.125%	104.125%
Lines of credit | Secured Credit Facility
Debt Instrument, Redemption [Line Items]
Amount borrowed on line of credit			$ 0		$ 0

Debt - Certain Covenants (Detai

Debt - Certain Covenants (Details) - Second Amended and Restated Credit Agreement	9 Months Ended
	Sep. 30, 2021
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 | December 31, 2019 and thereafter
Debt Instrument [Line Items]
Required minimum debt to consolidated EBITDA ratio	3.50

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Jun. 30, 2022	Sep. 30, 2021
Lessee, Lease, Description [Line Items]
Early termination fee on operating lease			$ 600
Early termination fee due	$ 1,200		$ 600
Reduction in ROU asset	14,900
Reduction in operating lease liability	$ 14,900
Forecast
Lessee, Lease, Description [Line Items]
Early termination fee on operating lease		$ 1,200
Equipment
Lessee, Lease, Description [Line Items]
Term of operating lease contract			60 months

Commitments and Contingencies -

Commitments and Contingencies - Other Loss Contingencies (Details) S/ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021PEN (S/)	Dec. 31, 2020USD ($)
Acquisition Contingencies
Loss Contingencies [Line Items]
Indemnification asset primarily related to acquisition contingencies	$ 768			$ 55,940
Peru | Foreign Tax Authority | National Superintendency of Tax Administration (SUNAT), Peru
Loss Contingencies [Line Items]
Bank guarantee issued by Peruvian institution	5,767		S/ 23,764
Pending Litigation
Loss Contingencies [Line Items]
Contingent liabilities recorded	$ 7,300			8,300
Taxes, Other-Than-Income Tax
Loss Contingencies [Line Items]
Statues of limitations (up to)	10 years
Taxes, Other-Than-Income Tax And Indemnification Assets
Loss Contingencies [Line Items]
Decrease for adjustments to non-income tax contingencies and indemnification assets	$ 13,438	$ 6,139
Income Tax Contingencies
Loss Contingencies [Line Items]
Contingent liabilities recorded	58,094			40,668
Other Noncurrent Liabilities | Taxes, Other-Than-Income Tax
Loss Contingencies [Line Items]
Loss contingency, noncurrent	1,287			38,355
Discontinued Operations, Held-for-sale | Acquisition Contingencies
Loss Contingencies [Line Items]
Indemnification asset primarily related to acquisition contingencies				40,877
Discontinued Operations, Held-for-sale | Income Tax Contingencies
Loss Contingencies [Line Items]
Contingent liabilities recorded	$ 6,461			11,752
Discontinued Operations, Held-for-sale | Other Noncurrent Liabilities | Taxes, Other-Than-Income Tax
Loss Contingencies [Line Items]
Loss contingency, noncurrent				$ 37,794

Commitments and Contingencies_2

Commitments and Contingencies - Standby Letters of Credit, Surety Bonds and Other Commitments (Details) € in Thousands, $ in Thousands	1 Months Ended
	Oct. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 11, 2020EUR (€)
Foreign Tax Authority | Tax Authority, Spain | Subsequent Event
Debt Instrument [Line Items]
Income Tax Examination, Tax Expense Paid, Pending Appeal	$ 9,300
Cash Collateralized Letter Of Credit - Spain Tax Audits
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 11,000	$ 11,500
Cash Collateralized Letter Of Credit - Spain Tax Audits, Extension of Audit
Debt Instrument [Line Items]
Letters of credit outstanding, amount		25,300		€ 21,600
Kendall College, St. Augustine, Walden University, and NewSchool of Architecture and Design
Debt Instrument [Line Items]
Letters of credit outstanding, amount		$ 83,600	$ 83,600

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	$ 2,397	$ 3,672	$ 7,175	$ 10,277
Continuing operations
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	2,026	2,627	5,977	7,899
Continuing operations | Stock options, net of estimated forfeitures
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	72	297	349	1,024
Continuing operations | Restricted stock awards
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	1,954	2,330	5,628	6,875
Discontinued operations
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total non-cash stock compensation	$ 371	$ 1,045	$ 1,198	$ 2,378

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stockholders' Equity (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	$ 2,272,442,000	$ 1,893,489,000	$ 2,263,934,000	$ 2,280,061,000	$ 2,569,808,000	$ 2,804,151,000	$ 2,263,934,000	$ 2,804,151,000
Non-cash stock compensation	2,397,000	3,202,000	1,576,000	3,672,000	4,621,000	1,984,000
Conversion of Class B shares to Class A shares	0		0			0
Purchase of treasury stock at cost	(112,994,000)	(105,786,000)	(145,806,000)			(29,203,000)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	304,000	360,000	(1,222,000)	(35,000)	(32,000)	25,614,000
Reclassification of redeemable noncontrolling interests and equity		(1,000)		(784,430,000)
Net income (loss)	360,137,000	(29,224,000)	(164,943,000)	(784,430,000)	(311,628,000)	98,316,000	165,970,000	(997,742,000)
Foreign currency translation adjustment, net of tax of $0	(22,627,000)	510,443,000	(59,761,000)	326,342,000	14,034,000	(330,116,000)	428,055,000	10,260,000
Minimum pension liability adjustment, net of tax of $0		27,000	(168,000)			(932,000)	(141,000)	(932,000)
Changes in noncontrolling interests	90,000
Foreign currency translation adjustment, tax	0	0	0	0		0	0	0
Accretion of redemption value of redeemable noncontrolling interests and equity	0			6,000			(88,000)	163,000
Reclassification of redeemable noncontrolling interests and equity				1,574,000	(414,000)
Balance, end of period	1,227,959,000	2,272,442,000	1,893,489,000	1,824,580,000	2,280,061,000	2,569,808,000	1,227,959,000	1,824,580,000
Pension adjustment, tax		0	0			0	0	0
Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period			2,263,934,000				2,263,934,000
Revision of Prior Period, Accounting Standards Update, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		(101,000)
Balance, end of period			(101,000)
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding					1,000
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	3,763,855,000	3,760,362,000	3,760,029,000	3,756,975,000	3,752,186,000	3,724,636,000	3,760,029,000	3,724,636,000
Non-cash stock compensation	2,397,000	3,202,000	1,576,000	3,672,000	4,621,000	1,984,000
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding	304,000	359,000	(1,223,000)	(35,000)	(33,000)	25,610,000
Changes in noncontrolling interests	90,000
Balance, end of period	2,494,856,000	3,763,855,000	3,760,362,000	3,758,008,000	3,756,975,000	3,752,186,000	2,494,856,000	3,758,008,000
(Accumulated deficit) retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(370,851,000)	(341,851,000)		228,301,000	536,124,000	436,509,000		436,509,000
Net income (loss)	360,406,000	(29,000,000)	(164,928,000)	(784,442,000)	(307,823,000)	99,615,000
Balance, end of period	(10,445,000)	(370,851,000)	(341,851,000)	(556,141,000)	228,301,000	536,124,000	(10,445,000)	(556,141,000)
(Accumulated deficit) retained earnings | Previously Reported
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period			(176,822,000)				(176,822,000)
(Accumulated deficit) retained earnings | Revision of Prior Period, Accounting Standards Update, Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period		(101,000)
Balance, end of period			(101,000)
Accumulated other comprehensive (loss) income
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(491,425,000)	(1,001,897,000)	(941,986,000)	(1,391,686,000)	(1,405,788,000)	(1,073,981,000)	(941,986,000)	(1,073,981,000)
Foreign currency translation adjustment, net of tax of $0	(22,648,000)	510,445,000	(59,743,000)	326,416,000	14,102,000	(330,875,000)
Minimum pension liability adjustment, net of tax of $0		27,000	(168,000)			(932,000)
Balance, end of period	(514,073,000)	(491,425,000)	(1,001,897,000)	(1,065,270,000)	(1,391,686,000)	(1,405,788,000)	(514,073,000)	(1,065,270,000)
Treasury stock at cost
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(616,908,000)	(511,122,000)	(365,316,000)	(300,309,000)	(300,309,000)	(271,106,000)	$ (365,316,000)	(271,106,000)
Purchase of treasury stock at cost (in shares)							(25,059,000)
Purchase of treasury stock at cost	(112,994,000)	(105,786,000)	(145,806,000)			(29,203,000)
Balance, end of period	(729,902,000)	(616,908,000)	(511,122,000)	(300,309,000)	(300,309,000)	(300,309,000)	$ (729,902,000)	(300,309,000)
Non-controlling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance, beginning of period	(13,142,000)	(12,915,000)	(12,882,000)	(14,130,000)	(13,314,000)	(12,812,000)	(12,882,000)	(12,812,000)
Reclassification of redeemable noncontrolling interests and equity		(1,000)		12,000
Net income (loss)	(269,000)	(224,000)	(15,000)		(3,805,000)	(1,299,000)
Foreign currency translation adjustment, net of tax of $0	21,000	(2,000)	(18,000)	(74,000)	(68,000)	759,000
Change in noncontrolling interests					3,471,000
Reclassification of redeemable noncontrolling interests and equity				1,574,000	(414,000)
Balance, end of period	$ (13,390,000)	$ (13,142,000)	$ (12,915,000)	$ (12,618,000)	$ (14,130,000)	$ (13,314,000)	$ (13,390,000)	$ (12,618,000)
Class A Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)			115,119,000				115,119,000
Balance of shares outstanding, end of period (in shares)	114,983,000						114,983,000
Class A Common Stock | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)	114,786,000	122,213,000	115,119,000	119,207,000	119,075,000	119,575,000	115,119,000	119,575,000
Balance, beginning of period	$ 619,000	$ 618,000	$ 548,000	$ 547,000	$ 546,000	$ 542,000	$ 548,000	$ 542,000
Conversion of Class B shares to Class A shares (in shares)	(7,188,000)		(17,248,000)			(18,000)
Conversion of Class B shares to Class A shares	$ (29,000)		$ (69,000)
Purchase of treasury stock at cost (in shares)	(7,110,000)	(7,548,000)	(10,401,000)			(1,619,000)
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding (in shares)	119,000	119,000	247,000	63,000	132,000	1,101,000
Exercise of stock options and vesting of restricted stock, net of shares withheld to satisfy tax withholding		$ 1,000	$ 1,000			$ 4,000
Conversion of Class B shares to Class A shares (in shares)		(2,000)
Balance of shares outstanding, end of period (in shares)	114,983,000	114,786,000	122,213,000	119,270,000	119,207,000	119,075,000	114,983,000	119,270,000
Balance, end of period	$ 648,000	$ 619,000	$ 618,000	$ 547,000	$ 547,000	$ 546,000	$ 648,000	$ 547,000
Class B Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)			90,792,000				90,792,000
Balance of shares outstanding, end of period (in shares)	66,354,000						66,354,000
Class B Common Stock | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance of shares outstanding, beginning of period (in shares)	73,542,000	73,544,000	90,792,000	90,813,000	90,813,000	90,831,000	90,792,000	90,831,000
Balance, beginning of period	$ 294,000	$ 294,000	$ 363,000	$ 363,000	$ 363,000	$ 363,000	$ 363,000	$ 363,000
Conversion of Class B shares to Class A shares (in shares)	(7,188,000)		(17,248,000)			(18,000)
Conversion of Class B shares to Class A shares	$ 29,000		$ 69,000
Conversion of Class B shares to Class A shares (in shares)		(2,000)
Balance of shares outstanding, end of period (in shares)	66,354,000	73,542,000	73,544,000	90,813,000	90,813,000	90,813,000	66,354,000	90,813,000
Balance, end of period	$ 265,000	$ 294,000	$ 294,000	$ 363,000	$ 363,000	$ 363,000	$ 265,000	$ 363,000
Accretion of redeemable noncontrolling interests and equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity						(44,000)
Accretion of redemption value of redeemable noncontrolling interests and equity				6,000	201,000
Accretion of redeemable noncontrolling interests and equity | Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity						(44,000)
Accretion of redemption value of redeemable noncontrolling interests and equity				6,000	201,000
Redeemable noncontrolling interests and equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity			(20,000)
Reclassification of redeemable noncontrolling interests and equity						38,000
Change in noncontrolling interests	(1,271,790,000)	(68,000)		(2,610,000)	$ 3,471,000
Redeemable noncontrolling interests and equity | Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interests and equity			$ (20,000)
Change in noncontrolling interests	$ (1,271,790,000)	$ (68,000)		$ (2,610,000)
Redeemable noncontrolling interests and equity | Non-controlling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassification of redeemable noncontrolling interests and equity						$ 38,000

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)	Oct. 06, 2021	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Sep. 30, 2021	Sep. 15, 2021	Aug. 12, 2021	Apr. 30, 2021	Mar. 08, 2021	Dec. 31, 2020	Nov. 05, 2020	Sep. 30, 2020
Subsidiary, Sale of Stock [Line Items]
Additional shares authorized for repurchase										200,000,000
Value of shares repurchased			$ (112,994,000)	$ (105,786,000)	$ (145,806,000)	$ (29,203,000)
Special cash distribution payable			1,271,790,000				$ 1,271,790,000					$ 0
Restricted cash			104,999,000				$ 104,999,000					$ 117,151,000		$ 30,857,000
Forecast | Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Dividends Payable On Vested Stock Units		$ 7,000,000
Discontinued Operations, Disposed of by Sale | Walden e-Learning, LLC
Subsidiary, Sale of Stock [Line Items]
Amount receivable									$ 74,000,000		$ 74,000,000
Restricted cash									$ 83,600,000
Treasury stock at cost
Subsidiary, Sale of Stock [Line Items]
Number of shares repurchased							(25,059,000)
Value of shares repurchased			$ (112,994,000)	$ (105,786,000)	$ (145,806,000)	$ (29,203,000)
Common Class A
Subsidiary, Sale of Stock [Line Items]
Amount authorized to be repurchased										$ 500,000,000
Common stock, par or stated value per share (in dollars per share)			$ 0.004				$ 0.004	$ 0.004				$ 0.004
Common Class A | Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Dividends and Interest Paid	$ 806,652,000
Common Class A | Common Stock
Subsidiary, Sale of Stock [Line Items]
Number of shares repurchased			(7,110,000)	(7,548,000)	(10,401,000)	(1,619,000)
Common Class A | Treasury stock at cost
Subsidiary, Sale of Stock [Line Items]
Amount authorized to be repurchased													$ 300,000
Treasury stock at cost
Subsidiary, Sale of Stock [Line Items]
Value of shares repurchased							$ (364,586,000)
Common Stock
Subsidiary, Sale of Stock [Line Items]
Dividends Payable, Amount Per Share								$ 7.01
Class B Common Stock
Subsidiary, Sale of Stock [Line Items]
Common stock, par or stated value per share (in dollars per share)			$ 0.004				$ 0.004					$ 0.004
Class B Common Stock | Subsequent Event
Subsidiary, Sale of Stock [Line Items]
Dividends and Interest Paid	$ 465,138,000

Stockholders' Equity - Accumula

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ 1,227,959	$ 2,272,442	$ 1,893,489	$ 2,263,934	$ 1,824,580	$ 2,280,061	$ 2,569,808	$ 2,804,151
Foreign currency translation adjustment, Laureate Education, Inc
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(523,402)			(951,456)
Foreign currency translation adjustment, Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	959			958
Foreign currency translation adjustment, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(522,443)			(950,498)
Unrealized gain on derivatives, Laureate Education, Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	10,416			10,416
Unrealized gain on derivatives, Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	0			0
Unrealized gain on derivatives, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	10,416			10,416
Minimum pension liability adjustment, Laureate Education Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(1,087)			(946)
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	(1,087)			(946)
Accumulated other comprehensive loss, Laureate Education, Inc.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	(514,073)	$ (491,425)	$ (1,001,897)	(941,986)	$ (1,065,270)	$ (1,391,686)	$ (1,405,788)	$ (1,073,981)
Accumulated other comprehensive loss, Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	959			958
Accumulated other comprehensive loss, Total
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (513,114)			$ (941,028)

Derivative Instruments - Summar

Derivative Instruments - Summary of Fair Value of Derivative Instruments (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Long-term liabilities:
Derivative asset	$ 0	$ 0
Total derivative instrument liabilities	0	25,824
Swap
Current liabilities:
Cross currency swaps	0	17,680
Long-term liabilities:
Cross currency swaps	$ 0	$ 8,144

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) $ in Thousands, R$ in Millions	Jun. 02, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Nov. 20, 2020USD ($)educationalInstitutionderivativeInstrumentR$ / $	Nov. 20, 2020BRL (R$)educationalInstitutionderivativeInstrumentR$ / $
Derivative [Line Items]
Payments on derivatives related to sale of discontinued operations			$ (50,341)	$ 0
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability		$ 0	0		$ 25,824
Not Designated as Hedging Instrument | Currency Swap notional amount
Derivative [Line Items]
Unamortized premium						$ 18,294
Realized loss	$ 33,710
Not Designated as Hedging Instrument | Swap
Derivative [Line Items]
Cross currency swaps		0	0		17,680
Cross currency swaps		0	$ 0		$ 8,144
Not Designated as Hedging Instrument | Brazil, Brazil Real | Currency Swap notional amount
Derivative [Line Items]
Number of currency derivatives held (derivative instrument) | derivativeInstrument						6	6
Derivative notional amount						$ 343,783	R$ 1875
Derivative, exchange rate | R$ / $						5.4540	5.4540
Payments on derivatives related to sale of discontinued operations		$ 1,663
Not Designated as Hedging Instrument | Brazil, Brazil Real | Currency Swap, Deal Contingent
Derivative [Line Items]
Number of interest rate derivatives held | educationalInstitution						2	2
Not Designated as Hedging Instrument | Brazil, Brazil Real | Cross Currency Interest Rate Contract, Instrument Three and Four
Derivative [Line Items]
Derivative notional amount | R$							R$ 1900
Not Designated as Hedging Instrument | Brazil, Brazil Real | Cross Current Interest Rate Contract, Instrument Four
Derivative [Line Items]
Derivative notional amount | R$							950
Not Designated as Hedging Instrument | Brazil, Brazil Real | Cross Current Interest Rate Contract, Instrument Three
Derivative [Line Items]
Derivative notional amount | R$							R$ 950
Not Designated as Hedging Instrument | Brazil, Brazil Real | Put/Call Options | Currency Swap notional amount
Derivative [Line Items]
Number of interest rate derivatives held | educationalInstitution						4	4

Derivative Instruments - Realiz

Derivative Instruments - Realized and Unrealized Gain (Loss) on Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
Loss on derivatives, net	$ (24,517)	$ (626)
Not Designated as Hedging Instrument | Cross Currency Interest Rate Contract
Derivative [Line Items]
Unrealized gain	25,824	0
Realized loss	$ (50,341)	$ (626)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ (48,118)		$ 72,199	$ (174,163)	$ 293,514
Tax Years 2016 to 2020
Income Tax Contingency [Line Items]
Out-of-period adjustment		$ 12,400
Tax Year 2018 through 2020
Income Tax Contingency [Line Items]
Discreet Tax Expense, Change In Prior Year Estimated Provision To Return Adjustment				$ 35,700

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator used in basic and diluted earnings (loss) per common share for continuing operations:
Loss from continuing operations	$ (10,390)	$ (271,040)	$ (290,800)	$ (76,503)
Income attributable to noncontrolling interests	(17)	(7)	9	27
Loss from continuing operations attributable to Laureate Education, Inc.	(10,407)	(271,047)	(290,791)	(76,476)
Accretion of redemption value of redeemable noncontrolling interests and equity	0	6	(88)	163
Net loss from continuing operations for basic and diluted earnings (loss) per share	(10,407)	(271,041)	(290,879)	(76,313)
Numerator used in basic and diluted earnings (loss) per common share for discontinued operations:
Income (loss) from discontinued operations, net of tax	370,527	(513,390)	456,770	(921,239)
Loss (income) attributable to noncontrolling interests	286	(5)	499	5,065
Net income (loss) from discontinued operations for basic and diluted earnings (loss) per share	$ 370,813	$ (513,395)	$ 457,269	$ (916,174)
Denominator used in basic and diluted earnings (loss) per common share:
Basic weighted average share outstanding (in shares)	185,569	210,033	192,543	209,920
Diluted weighted average shares outstanding (in shares)	185,569	210,033
Basic and diluted earnings (loss) per share:
(Loss) income from continuing operations, basic (in dollars per share)	$ (0.06)	$ (1.29)	$ (1.51)	$ (0.36)
Loss from discontinued operations, basic (in dollars per share)	2	(2.44)	2.37	(4.36)
Basic loss per share (in dollars per share)	1.94	(3.73)	0.86	(4.72)
Diluted earnings (loss) per share:
(Loss) income from continuing operations, diluted (in dollars per share)	(0.06)	(1.29)	(1.51)	(0.36)
Loss from discontinued operations, diluted (in dollars per share)	2	(2.44)	2.37	(4.36)
Diluted earnings per share (in dollars per share)	$ 1.94	$ (3.73)	$ 0.86	$ (4.72)

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, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Dilutive effect of stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,845	3,838	3,162	4,205
Dilutive effect of restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	687	727	698	732

Fair Value Measurement - Change

Fair Value Measurement - Change in Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) - Fair Value, Measurements, Recurring $ in Thousands	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	$ 0
Derivative liability	25,824
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0
Derivative liability	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0
Derivative liability	25,824
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	0
Derivative liability	$ 0

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 1,856,856	$ 750,147	$ 716,799
Restricted cash	104,999	117,151	30,857
Total Cash and cash equivalents and Restricted cash shown in the Consolidated Statements of Cash Flows	$ 1,961,855	$ 867,298	$ 747,656