LAUREATE EDUCATION, INC. (LAUR) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Other	174.5	150.3	131.1	167.7	152.6
Other	1,067.8	936.4	893.9	1,044.4	992.0
Total revenues	1,242.3	1,086.7	1,024.9	1,212.1	1,144.6	3,333.1	3,301.9	4,291.7
Revenue growth [+]	14.3%	6.0%	-15.4%	5.9%	-65.7%	0.9%	-23.1%	-2.8%
Other	16.1%	14.7%	-21.9%	9.9%
Cost of goods sold	907.4	814.5	802.5	949.5	904.0	2,775.3	2,788.7	3,760.0
Gross profit	334.9	272.2	222.5	262.6	240.6	557.7	513.2	531.6
Gross margin	27.0%	25.0%	21.7%	21.7%	21.0%	16.7%	15.5%	12.4%
Selling, general and administrative [+]	64.8	204.4	199.8	226.3	267.4	315.5	222.5	194.7
General and administrative	64.8	204.4	199.8	226.3	267.4	315.5	222.5	194.7
Equity in earnings	0.3		0.2	0.2		0.2	0.1	2.5
Other operating expenses	0.1	72.5	352.0	0.2		7.1
Adjusted EBITDA	338.2	106.7	-172.3	242.6	224.0	564.8	594.5	661.4
Adjusted EBITDA margin	27.2%	9.8%	-16.8%	20.0%	19.6%	16.9%	18.0%	15.4%
Stock-based compensation	8.8	10.2	13.3	13.0	10.8	64.8	38.8	39.0
EBITDA [+]	329.4	96.5	-185.6	229.6	213.2	500.0	555.6	622.4
EBITDA growth	241.2%	-152.0%	-180.8%	7.7%	-57.4%	-10.0%	-10.7%	5.9%
EBITDA margin	26.5%	8.9%	-18.1%	18.9%	18.6%	15.0%	16.8%	14.5%
Depreciation	59.1	78.1	135.9	193.4	240.0	253.2	253.7	262.5
EBITA	270.3	18.4	-321.5	36.2	-26.8	246.8	301.9	359.9
EBITA margin	21.8%	1.7%	-31.4%	3.0%	-2.3%	7.4%	9.1%	8.4%
Amortization of intangibles		23.1	7.6			11.5	11.2	20.4
EBIT [+]	270.3	-4.6	-329.1	36.2	-26.8	235.3	290.8	339.5
EBIT growth	-5916.0%	-98.6%	-1008.2%	-235.3%	-111.4%	-19.1%	-14.3%	13.3%
EBIT margin	21.8%	-0.4%	-32.1%	3.0%	-2.3%	7.1%	8.8%	7.9%
Interest expense, net [+]	8.9	41.9	98.7	121.7	185.6	323.0	376.0	384.7
Interest expense	16.4	46.3	100.9	125.0	188.4	334.9	390.4	398.0
Interest income	7.6	4.4	2.2	3.3	2.8	11.9	14.4	13.3
Other income (expense), net [+]	-15.6	-91.0	-23.0	-34.2	92.3	11.0	452.3	-155.3
Gain (loss) on sale of assets	1.4	-0.6	-7.3	-20.4		-10.5	398.1
Gain (loss) on debt retirement		-77.9	-0.6	-22.6	-7.5	-8.4	-17.4	-1.3
Unrealized gain/loss on derivatives		-24.5	-26.0	8.3	88.5	28.7	-6.1	-2.6
Gain (loss) on foreign currency transactions	-17.4	13.8	13.5	-8.1	0.7	3.2	77.3	-149.2
Other	0.8	-1.7	-2.4	8.9	10.6	-1.9	0.5	0.2
Pre-tax income	245.9	-137.5	-450.8	-119.7	-120.1	-76.8	367.1	-200.6
Income taxes	185.4	145.6	-130.1	31.0	71.2	-93.0	34.4	117.7
Tax rate	75.4%		28.9%			121.1%	9.4%
Minority interest	-0.6	11.3	-5.4	-0.8	0.9	2.3	-5.7	0.4
Earnings from continuing ops	61.3	-577.5	-315.2	-149.7	-180.9	-284.4	370.3	-322.4
Earnings from discontinued ops	8.3	486.9	-298.1	1,088.1	562.2	77.4
Net income	69.6	-90.6	-613.3	938.5	381.4	-207.0	370.3	-322.4
Net margin	5.6%	-8.3%	-59.8%	77.4%	33.3%	-6.2%	11.2%	-7.5%

Basic EPS [+]	$149,543,902.44	($571,781,188.12)	$107,586,006.83	($0.67)	($0.85)	$237,018,333.33	$2.76	($2.43)
Growth	-126.2%	-631.5%	-15953406969.3%	-20.7%	-100.0%	8602707391.0%	-213.6%	95.6%
Diluted EPS [+]	$145,983,333.33	($571,781,188.12)	$107,586,006.83	($0.67)	($0.85)	$237,018,333.33	$2.76	($2.43)
Growth	-125.5%	-631.5%	-15953406969.3%	-20.7%	-100.0%	8602707391.0%	-213.6%	95.6%

Shares outstanding (basic) [+]	0.0	0.0	0.0	221.9	212.8	0.0	134.4	133.0
Growth	-59.4%	-134.5%	-100.0%	4.3%	-17730750100.0%	-100.0%	1.1%	4.1%
Shares outstanding (diluted) [+]	0.0	0.0	0.0	221.9	212.8	0.0	134.4	133.0
Growth	-58.4%	-134.5%	-100.0%	4.3%	-17730750100.0%	-100.0%	1.1%	4.1%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.