Laureate Education, Inc. LAUR Balance Sheet

Laureate education, inc. (LAUR)

Balance Sheet / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16
Assets
Current assets:
Cash and cash equivalents (includes VIE amounts of $145,502 and $157,003, see Note 2)
546	339	323	236	278	387	392	402	479	320	504	367	856	464
Restricted cash
196	186	183	188	203	195	196	182	184	212	199	193	195	189
Receivables:
Accounts and notes receivable
535	432	533	531	606	373	571	618	786	474	771	669	752	494
Related party receivables
-	-	-	-	-	-	-	-	-	-	4	5	5	6
Allowance for doubtful accounts
173	190	172	177	165	159	164	193	196	178	199	196	189	190
Other receivables
20	18	11	13	13	11	17	25	21	15	22	21	22	23
Receivables, net
-	-	371	368	454	225	424	449	611	311	599	499	591	334
Income tax receivable
39	22	49	42	82	18	16	24	25	38	59	37	29	29
Prepaid expenses and other current assets
73	49	64	98	72	52	77	176	134	81	104	145	104	97
Current assets held for sale
72	83	131	187	308	337	346	35	57	324	92	-	-	0
Total current assets
1,312	942	1,124	1,120	1,400	1,217	1,454	1,271	1,493	1,288	1,559	1,242	1,777	1,115
Notes receivable, net
12	9	12	14	7	2	12	13	9	3	12	7	63	61
Property and equipment:
Land
205	229	228	239	239	234	229	382	402	243	376	418	410	396
Buildings
597	662	654	668	651	645	642	960	995	669	1,162	1,295	1,270	1,219
Furniture, equipment and software
855	952	972	1,013	995	952	961	1,197	1,238	977	1,206	1,251	1,203	1,160
Leasehold improvements
286	329	316	335	330	356	359	419	440	366	440	432	419	399
Construction in-progress
63	57	49	40	38	60	45	69	75	62	72	73	88	103
Accumulated depreciation and amortization
937	1,031	1,029	1,059	1,018	974	980	1,235	1,257	939	1,227	1,263	1,197	1,128
Property and equipment, net
1,071	1,199	1,191	1,238	1,237	1,275	1,257	1,793	1,895	1,380	2,030	2,208	2,195	2,151
Operating lease right-of-use assets, net
768	861	871	937	952	0	-	-	-	-	-	-	-	-
Land use rights, net
1	1	1	1	1	1	1	2	2	1	44	45	45	45
Goodwill
1,501	1,701	1,677	1,737	1,738	1,707	1,709	1,819	1,942	1,828	2,028	2,020	2,012	1,934
Other intangible assets:
Tradenames
1,069	1,119	1,116	1,134	1,134	1,126	1,130	1,242	1,280	1,167	1,330	1,332	1,328	1,307
Other intangible assets, net
1	1	1	2	2	25	25	29	34	35	43	44	45	46
Deferred costs, net
64	69	69	70	68	66	65	68	67	60	62	61	60	57
Deferred income taxes
333	125	134	150	145	136	150	157	177	152	152	147	157	142
Derivative Asset, Noncurrent
-	-	0	0	6	3	0	15	41	48	29	49	21	4
Other assets
146	176	175	189	177	172	174	240	261	199	209	209	202	195
Long-term assets held for sale
216	305	448	493	961	1,035	1,007	276	311	1,224	279	-	-	0
Total assets
6,497	6,515	6,824	7,091	7,833	6,769	6,990	6,930	7,516	7,391	7,782	7,369	7,910	7,062
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
91	119	69	70	70	65	51	72	82	70	88	82	92	86
Accrued expenses
211	214	260	231	241	222	269	279	310	239	367	314	339	368
Accrued compensation and benefits
112	182	166	172	143	194	173	198	191	215	244	225	231	239
Deferred revenue and student deposits
505	216	464	283	556	193	465	351	675	184	729	380	735	362
Current portion of operating leases
84	91	91	95	97	0	-	-	-	-	-	-	-	-
Current portion of long-term debt and finance leases
191	118	119	136	105	100	104	157	131	121	185	212	177	178
Current portion of due to shareholders of acquired companies
8	11	11	14	25	23	23	24	35	34	28	133	136	118
Income taxes payable
24	25	29	30	22	17	13	42	18	20	31	23	31	30
Derivative instruments
-	-	0	0	1	4	0	0	0	4	0	0	2	5
Other current liabilities
21	25	26	30	23	46	42	39	42	31	60	43	43	48
Current liabilities held for sale
60	64	136	139	315	321	394	85	103	451	158	-	-	0
Total current liabilities (includes VIE amounts of $267,151 and $142,343, see Note 2)
1,311	1,070	1,376	1,205	1,601	1,190	1,537	1,251	1,591	1,374	1,894	1,415	1,791	1,440
Long-term operating leases, less current portion
712	792	800	862	871	0	-	-	-	-	-	-	-	-
Long-term debt and finance leases, less current portion
1,411	1,260	1,158	1,222	2,136	2,593	2,505	2,756	2,852	2,973	3,024	3,291	3,629	3,629
Due to shareholders of acquired companies, less current portion
8	9	9	21	21	21	20	35	39	37	52	82	83	92
Deferred compensation
12	12	11	13	12	12	13	14	14	14	13	14	14	14
Income taxes payable
53	62	82	86	89	90	73	78	81	106	120	111	106	135
Deferred income taxes
190	218	224	227	217	217	257	295	293	247	450	459	454	452
Derivative instruments
-	-	0	0	0	6	7	7	14	9	8	7	7	7
Other long-term liabilities
143	147	159	169	166	213	239	283	312	221	246	281	275	270
Long-term liabilities held for sale
70	124	158	163	374	358	353	79	86	405	73	-	-	0
Total liabilities
3,915	3,699	3,981	3,972	5,491	4,704	5,006	4,802	5,287	5,390	5,883	5,664	6,364	6,041
Redeemable noncontrolling interests and equity
11	12	11	-	-	14	-	-	-	-	-	-	-	-
Stockholders' equity:
Preferred stock, par value $0.001 per share – 49,889 shares authorized as of March 31, 2020 and December 31, 2019, respectively, no shares issued and outstanding as of March 31, 2020 and December 31, 2019
-	-	0	0	0	0	0	0	0	0	0	0	0	0
Common stock
-	-	-	-	-	-	-	-	-	-	-	-	-	0
Additional paid-in capital
3,752	3,724	3,710	3,707	3,705	3,703	3,705	3,698	3,383	3,446	3,545	3,371	3,428	2,721
Retained earnings
536	436	375	470	-310	-530	-643	-548	-772	-946	-1,142	-1,044	-1,160	-1,037
Accumulated other comprehensive loss
-1,405	-1,073	-1,138	-1,060	-1,060	-1,112	-1,079	-1,026	-839	-925	-852	-914	-946	-1,052
Treasury stock at cost (17,627 shares held at March 31, 2020 and 16,008 shares held at December 31, 2019)
300	271	104	-	-	0	-	-	-	-	-	-	-	-
Total Laureate Education, Inc. stockholders' equity
2,583	2,816	2,843	3,118	2,335	2,061	1,983	2,124	1,772	1,575	1,551	1,412	1,322	632
Noncontrolling interests
-13	-12	-12	-11	-7	-10	-11	-9	-5	12	30	34	34	32
Total stockholders' equity
2,569	2,804	2,830	3,107	2,327	2,050	1,971	2,115	1,767	1,587	1,582	1,447	1,357	664
Total liabilities and stockholders' equity
6,497	6,515	6,824	7,091	7,833	6,769	6,990	6,930	7,516	7,391	7,782	7,369	7,910	7,062
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents (includes VIE amounts of $145,502 and $157,003, see Note 2)
145	157	-	-	-	-	-	-	-	-	-	-	-	-
Current assets held for sale
18	16	-	-	-	-	-	-	-	-	-	-	-	-
Total current assets
422	346	-	-	-	-	-	-	-	-	-	-	-	-
Operating lease right-of-use assets, net
62	65	-	-	-	-	-	-	-	-	-	-	-	-
Goodwill
140	159	-	-	-	-	-	-	-	-	-	-	-	-
Tradenames
55	61	-	-	-	-	-	-	-	-	-	-	-	-
Other intangible assets, net
0	0	-	-	-	-	-	-	-	-	-	-	-	-
Long-term assets held for sale
62	52	-	-	-	-	-	-	-	-	-	-	-	-
Total assets
981	948	-	-	-	-	-	-	-	-	-	-	-	-
Current liabilities held for sale
11	11	-	-	-	-	-	-	-	-	-	-	-	-
Total current liabilities (includes VIE amounts of $267,151 and $142,343, see Note 2)
267	142	-	-	-	-	-	-	-	-	-	-	-	-
Long-term operating leases, less current portion
53	56	-	-	-	-	-	-	-	-	-	-	-	-
Long-term liabilities held for sale
39	29	-	-	-	-	-	-	-	-	-	-	-	-
Total liabilities
395	257	-	-	-	-	-	-	-	-	-	-	-	-
Total Laureate Education, Inc. stockholders' equity
585	691	-	-	-	-	-	-	-	-	-	-	-	-
Total stockholders' equity
585	691	-	-	-	-	-	-	-	-	-	-	-	-
Series A Convertible Redeemable Preferred Stock
Total redeemable noncontrolling interests and equity
-	-	-	-	-	-	0	0	447	400	302	232	170	332
Puttable Arrangements, Common and Preferred Stock [Member]
Redeemable Noncontrolling Interest, Equity, Carrying Amount
-	-	11	12	13	-	12	12	14	13	14	25	19	23
Class A Common Stock
Preferred stock, par value $0.001 per share – 49,889 shares authorized as of March 31, 2020 and December 31, 2019, respectively, no shares issued and outstanding as of March 31, 2020 and December 31, 2019
0	0	-	-	-	-	-	-	-	-	-	-	-	-
Common stock
0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock, Shares, Outstanding
119	119	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock, Shares, Issued
136	135	-	-	-	-	-	-	-	-	-	-	-	-
Class B Common Stock
Common stock
0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock, Shares, Outstanding
90	90	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock, Shares, Issued
90	90	-	-	-	-	-	-	-	-	-	-	-	-