XML 48 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
Summary of Significant Accounting Policies - Effect of Topic 606 on Financial Statements (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]        
Consolidated Revenues, net $ 584,985 [1] $ 541,237 $ 1,170,484 [1] $ 1,061,670
Expenses:        
Merchant commissions 0 [1] 30,619 0 [1] 55,003
Processing 111,201 [1] 103,322 227,686 [1] 205,146
Selling 44,009 [1] 38,957 91,120 [1] 77,794
General and administrative 96,382 [1] 87,587 186,696 [1] 183,041
Depreciation and amortization 68,610 [1] 64,709 140,112 [1] 129,575
Operating income 264,783 [1] 216,043 524,870 [1] 411,111
Total other expense 33,608 [1] 25,654 64,376 [1] 53,354
Income before income taxes 231,175 [1] 190,389 460,494 [1] 357,757
Provision for income taxes 54,323 [1] 59,402 108,705 [1] 103,077
Net income $ 176,852 [1] $ 130,987 $ 351,789 [1],[2] $ 254,680 [2]
Basic earnings per share (in dollars per share) $ 1.98 [1] $ 1.42 $ 3.93 [1] $ 2.77
Diluted earnings per share (in dollars per share) $ 1.91 [1] $ 1.39 $ 3.78 [1] $ 2.70
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09        
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]        
Consolidated Revenues, net $ 23,336   $ 47,554  
Expenses:        
Merchant commissions 26,387   53,290  
Processing (2,713)   (4,784)  
Selling 397   2,517  
General and administrative 0   0  
Depreciation and amortization 0   0  
Operating income (735)   (3,469)  
Total other expense 0   0  
Income before income taxes (735)   (3,469)  
Provision for income taxes (91)   (848)  
Net income $ (644)   $ (2,621)  
Basic earnings per share (in dollars per share) $ (0.01)   $ (0.03)  
Diluted earnings per share (in dollars per share) $ (0.01)   $ (0.03)  
Calculated under Revenue Guidance in Effect before Topic 606        
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]        
Consolidated Revenues, net $ 608,321   $ 1,218,038  
Expenses:        
Merchant commissions 26,387   53,290  
Processing 108,488   222,902  
Selling 44,406   93,637  
General and administrative 96,382   186,696  
Depreciation and amortization 68,610   140,112  
Operating income 264,048   521,401  
Total other expense 33,608   64,376  
Income before income taxes 230,440   457,025  
Provision for income taxes 54,232   107,857  
Net income $ 176,208   $ 349,168  
Basic earnings per share (in dollars per share) $ 1.98   $ 3.90  
Diluted earnings per share (in dollars per share) $ 1.90   $ 3.76  
[1] Reflects the impact of the Company's adoption of ASC 606 and related cost capitalization guidance, which was adopted by the Company on January 1, 2018 using the modified retrospective transition method. The adoption of ASC 606 resulted in an adjustment to retained earnings in our consolidated balance sheet for the cumulative effective of applying the standard, which included costs incurred to obtain a contract, as well as presentation changes in our statements of income, including the classification of certain amounts previously classified as merchant commissions and processing expense net with revenues. As a result of the application of the modified retrospective transition method, the Company's prior period results within its annual report on Form 10-K and quarterly reports on Form 10-Q will not be restated to reflect the impact of ASC 606. See footnote 1, "Summary of Significant Accounting Policies", in the accompanying notes to the unaudited consolidated financial statements.
[2] Reflects the impact of the Company's adoption of Accounting Standards Update 2016-18, "Statement of Cash Flows (Topic 230)", which was adopted by the Company on January 1, 2018 and applied retrospectively to results for 2017. The adoption of Topic 230 resulted in the statement of cash flows presenting the changes in the total of cash, cash equivalents and restricted cash. As a result, the Company will no longer present transfers between cash and cash equivalents and restricted cash in the statement of cash flows.