Laureate education, inc. (LAUR)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
Cash flows from operating activities
Net income

841,715

937,664

949,203

949,310

393,650

370,930

499,323

492,521

385,662

93,764

-68,281

116,138

348,279

366,186

0

0

0

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization

189,873

193,356

196,321

207,218

219,880

239,998

255,309

263,441

267,990

264,742

261,538

260,433

263,186

264,879

0

0

0

Amortization of operating lease right-of-use assets

112,556

122,673

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss on impairment of assets

47,522

43,754

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss (gain) on sales of subsidiaries and disposal of property and equipment, net

528,355

796,333

813,311

834,538

241,432

292,108

301,886

317,682

303,661

5,837

7,123

163,484

409,274

408,672

0

0

0

Gain on derivative instruments

2,897

7,438

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on derivative instruments

2,897

7,438

4,654

4,440

113,618

89,143

102,406

82,572

-2,121

29,278

22,115

42,552

17,549

-4,717

0

0

0

Payments for settlement of derivative contracts

-17,005

-8,772

36,467

5,884

22,350

14,117

0

0

0

-

-

-

-

-

-

-

-

Loss on debt extinguishment

-18,130

-28,752

-26,901

-26,217

-10,622

-7,481

-7,448

-7,443

-15,406

-8,392

-8,425

-24,112

-17,830

-17,363

0

0

0

Non-cash interest expense

3,550

3,535

4,143

4,068

15,839

15,408

34,424

38,246

41,994

49,582

39,112

40,242

41,950

46,195

0

0

0

Non-cash share-based compensation expense

11,829

12,994

9,880

14,864

17,696

10,791

31,311

33,382

38,644

64,788

53,839

53,237

54,033

38,809

0

0

0

Bad debt expense

100,091

100,829

110,368

116,568

113,937

112,440

118,660

131,151

129,959

124,308

120,555

103,344

98,682

108,019

0

0

0

Deferred income taxes

-287,349

-29,813

-10,192

-2,070

27,921

-7,474

-143,387

-162,249

-175,463

-164,785

-39,628

-20,811

-26,055

-30,150

0

0

0

Unrealized foreign currency exchange (gain) loss

5,992

-29,186

7,501

-13,829

-42,172

-37,796

-53,014

-11,100

-4,138

-4,135

-10,547

-2,466

40,806

67,946

0

0

0

Non-cash loss from non-income tax contingencies

-11,028

-9,075

0

0

0

-

-

-

-

2,883

-15,376

-13,415

-16,612

-17,360

0

0

0

Other, net

2,896

5,341

5,539

4,382

8,445

10,297

9,781

5,517

-1,229

-3,463

-6,012

-5,987

-6,396

-5,949

0

0

0

Changes in operating assets and liabilities:
Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Receivables

72,018

163,202

68,399

121,030

79,826

83,316

73,421

150,965

130,289

129,335

105,276

124,870

133,586

110,693

0

0

0

Prepaid expenses and other assets

11,698

42,047

45,154

34,740

81,622

39,347

41,127

44,379

36,436

60,051

59,201

48,273

33,583

17,594

0

0

0

Accounts payable and accrued expenses

-11,421

5,574

-15,351

12,946

5,646

-7,512

-51,294

1,941

-39,639

-30,407

25,967

-92,446

-3,775

688

0

0

0

Income tax receivable/payable, net

11,501

-36,220

19,225

-16,259

18,673

48,875

-964

23,124

-16,598

-10,695

-33,027

-58,637

-63,876

-36,762

0

0

0

Deferred revenue and other liabilities

-128,059

-53,152

-117,482

9,843

50,631

52,733

4,567

102,217

40,043

11,076

10,445

17,051

99,864

-29,557

0

0

0

Net cash (used in) provided by operating activities

291,266

339,769

352,756

427,569

448,908

396,858

336,776

334,756

221,479

192,157

208,037

114,906

245,157

192,256

0

0

0

Cash flows from investing activities
Purchase of property and equipment

147,904

155,641

189,735

207,106

226,120

238,046

289,892

281,011

281,161

274,063

241,983

240,827

237,642

240,258

0

0

0

Expenditures for deferred costs

17,713

17,701

18,770

20,156

19,989

19,866

20,187

19,201

19,606

19,717

15,152

15,931

16,323

16,436

0

0

0

Receipts from sales of discontinued operations, net of cash sold, and property and equipment

939,076

1,266,042

1,141,710

1,162,534

347,295

375,807

384,443

384,039

369,215

9,831

1,761

214,850

546,853

554,441

0

0

0

Settlement of derivatives related to sale of discontinued operations

-

-

-

-

-

-

-

-

9,960

-

0

0

0

-

-

-

-

Proceeds from property insurance recoveries and corporate-owned life insurance

-

-

-

-

-

-

-

-

-

370

2,562

2,562

3,993

3,623

0

0

0

Business acquisitions, net of cash acquired

11

1,205

18,224

18,224

18,213

17,019

0

0

0

-

-

-

-

-

-

-

-

Payments from related parties

84

84

-2,686

-3,674

-3,441

-2,778

-625

1,223

829

-268

305

37

-41

1,590

0

0

0

Change in restricted cash and investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Net cash (used in) provided by investing activities

798,713

1,116,760

939,349

953,596

106,888

115,494

88,420

75,090

58,482

-284,682

-241,310

-25,881

292,162

297,297

0

0

0

Cash flows from financing activities
Proceeds from issuance of long-term debt, net of original issue discount

1,532,028

1,123,179

825,950

694,435

387,537

485,470

932,757

1,086,703

3,080,609

2,898,836

2,545,486

2,556,990

543,473

708,827

0

0

0

Payments on long-term debt

2,201,703

2,507,790

2,219,152

2,073,504

858,695

867,915

1,181,977

1,295,137

3,530,423

3,038,946

3,079,299

3,359,901

1,338,635

1,421,379

0

0

0

Payments of deferred purchase price for acquisitions

-21,276

-20,157

-15,849

-19,908

-8,485

-13,650

-18,666

-94,437

-95,110

-94,891

-106,475

-20,819

-20,108

-22,236

0

0

0

Proceeds from issuance of convertible redeemable preferred stock, net of issuance costs

-

-

-

-

-

-

-

-

-

55,290

384,432

384,432

384,432

329,142

0

0

0

Payment of dividends on Series A Preferred Stock and to noncontrolling interests

-

-

-

-

-

11,103

25,222

30,474

29,090

19,371

6,207

1,416

1,416

1,505

0

0

0

Proceeds from initial public offering, net of issuance costs

-

-

-

-

-

-

-

-

-

456,359

456,359

456,561

456,888

0

0

0

0

Proceeds from exercise of stock options

0

-

-

-

0

-

-

-

-

-

-

-

-

253

0

0

0

Payments to repurchase common stock

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Withholding of shares to satisfy tax withholding for vested stock awards and exercised stock options

1,965

2,245

2,293

2,035

3,145

2,528

2,170

2,618

2,954

2,151

2,104

1,694

1,618

1,725

0

0

0

Payments of debt issuance costs

3,865

9,091

6,654

6,233

5,665

587

5,209

5,076

80,790

81,242

77,512

86,608

11,169

11,582

0

0

0

Payments to purchase noncontrolling interests

5,136

5,761

1,247

5,761

625

127

18,355

17,570

17,570

17,443

0

0

24,997

25,665

0

0

0

Noncontrolling interest holder's loan to subsidiaries

-

-

-

-

-

-

-

-

-

943

929

1,253

1,745

802

0

0

0

Distributions (to) from noncontrolling interest holders

-

-

-

-

-

-

-

121

313

186

-54

-54

660

-654

0

0

0

Net cash provided by (used in) financing activities

-956,478

-1,673,977

-1,510,775

-1,413,146

-490,732

-410,129

-317,936

-358,690

-675,544

157,570

115,556

-71,248

-10,737

-445,722

0

0

0

Effects of exchange rate changes on Cash and cash equivalents and Restricted cash

-42,993

-7,338

-17,755

-8,652

-33,589

-13,481

-4,593

10,473

37,438

25,906

22,261

8,284

6,771

3,478

0

0

0

Change in cash included in current assets held for sale

180,307

167,764

167,913

43,076

-33,640

-30,915

-6,116

-18,901

-33,083

-32,983

-71,592

-2,155

2,400

-3,492

0

0

0

Net change in Cash and cash equivalents and Restricted cash

270,815

-57,022

-68,512

2,443

-2,165

57,827

96,551

42,728

-391,228

57,968

32,952

23,906

535,753

43,817

0

0

0