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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Operating activities          
Net income $ 176,852 [1] $ 130,987 $ 351,789 [1],[2] $ 254,680 [2]  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation [2]     25,033 21,593  
Stock-based compensation [2]     33,505 44,243  
Provision for losses on accounts receivable [2]     26,495 27,648  
Amortization of deferred financing costs and discounts [2]     2,678 3,800  
Amortization of intangible assets [2]     112,540 104,894  
Amortization of premium on receivables [2]     2,539 3,088  
Deferred income taxes [2]     (6,473) (32,660)  
Investment loss 0 [1] 2,354 0 [1],[2] 4,731 [2]  
Other non-cash operating income [2]     (104) 0  
Changes in operating assets and liabilities (net of acquisitions):          
Accounts and other receivables [2]     (519,527) (380,196)  
Prepaid expenses and other current assets [2]     (20,440) (18,778)  
Other assets [2]     (15,418) (15,050)  
Accounts payable, accrued expenses and customer deposits [2]     282,472 189,750  
Net cash provided by operating activities [2]     275,089 207,743  
Investing activities          
Acquisitions, net of cash acquired [2]     (3,811) (3,580)  
Purchases of property and equipment (19,400) (17,804) (34,614) [2] (32,600) [2]  
Other     (11,192) [2] (6,327) [2] $ (39,000)
Net cash used in investing activities [2]     (49,617) (42,507)  
Financing activities          
Proceeds from issuance of common stock [2]     29,498 16,432  
Repurchase of common stock [2]     (380,651) (52,393)  
Borrowings on securitization facility, net [2]     128,000 150,000  
Principal payments on notes payable [2]     (69,000) (66,725)  
Borrowings from revolver [2]     774,019 90,000  
Payments on revolver [2]     (600,109) (215,901)  
Borrowings on swing line of credit, net [2]     13,632 10,245  
Other [2]     (149) 537  
Net cash used in financing activities [2]     (104,760) (67,805)  
Effect of foreign currency exchange rates on cash [2]     (66,144) 24,416  
Net increase in cash and cash equivalents and restricted cash [2]     54,568 121,847  
Cash and cash equivalents and restricted cash, beginning of period [2]     1,130,870 643,770 643,770
Cash and cash equivalents and restricted cash, end of period [2] $ 1,185,438 $ 765,617 1,185,438 765,617 $ 1,130,870
Supplemental cash flow information          
Cash paid for interest [2]     73,303 68,431  
Cash paid for income taxes [2]     $ 112,982 $ 188,157  
[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.