Laureate Education Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	281.63	296.47	107.59	69.57	192.45
Depreciation & Amortization	110.79	105.21	102.85	88.53	145.26
Loss (Gain) From Sale of Assets	0.17	-5.1	9.6	-11.15	-609.53
Asset Writedown & Restructuring Costs	-	-	3.07	0.14	72.49
Stock-Based Compensation	13.34	7.84	7.11	8.78	10.17
Provision & Write-off of Bad Debts	61.13	55.75	43.73	21.97	34.37
Other Operating Activities	40.23	-93.05	20.61	21.2	275.6
Change in Accounts Receivable	-93.06	-57.98	-51.74	-27.52	-15.99
Change in Accounts Payable	17.92	4.75	-4.26	-10.46	-45.33
Change in Unearned Revenue	-29.67	-35.37	-13.72	-18.96	-98.28
Change in Income Taxes	-43.85	-30.61	23.3	31.33	-101.13
Change in Other Net Operating Assets	7.57	-15.19	2.62	4.8	-17.43
Operating Cash Flow	366.19	232.73	250.78	178.23	-156.08
Operating Cash Flow Growth	57.34%	-7.20%	40.71%	-	-
Capital Expenditures	-103.04	-71.89	-56.44	-52.76	-50.44
Sale of Property, Plant & Equipment	0.29	17.96	0.27	0.47	-
Other Investing Activities	0.11	-3.63	4.25	82.63	2,095
Investing Cash Flow	-102.65	-57.55	-51.92	30.35	2,044
Long-Term Debt Issued	126.16	155.15	153.77	496.25	46.49
Long-Term Debt Repaid	-129.07	-215.56	-243.44	-433.71	-942.03
Net Debt Issued (Repaid)	-2.91	-60.41	-89.67	62.55	-895.54
Issuance of Common Stock	0.13	0.23	2.31	13.22	3.41
Repurchase of Common Stock	-219.23	-104.96	-0.62	-284.15	-383.27
Other Financing Activities	-	-0.08	-1.43	-	-32.98
Financing Cash Flow	-222.47	-166.94	-201.89	-461.57	-2,683
Foreign Exchange Rate Adjustments	12.87	-7.55	6.64	1.2	-14.72
Miscellaneous Cash Flow Adjustments	0.27	0.26	-0.5	-	288.13
Net Cash Flow	54.22	0.96	3.11	-251.79	-521.72
Free Cash Flow	263.15	160.85	194.34	125.47	-206.53
Free Cash Flow Growth	63.60%	-17.24%	54.89%	-	-
Free Cash Flow Margin	15.46%	10.27%	13.09%	10.10%	-19.00%
Free Cash Flow Per Share	1.77	1.04	1.23	0.75	-1.09
Cash Interest Paid	9.02	16.6	20.26	16.75	63.15
Cash Income Tax Paid	163.43	194.81	171.28	153.76	251.1
Levered Free Cash Flow	332.07	198.24	316.78	283.13	211.9
Unlevered Free Cash Flow	338.73	209.55	329.89	293.39	240.82
Change in Working Capital	-141.1	-134.4	-43.8	-20.82	-278.15

Source: S&P Global Market Intelligence. Standard template. Financial Sources.