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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Dec. 31, 2017
Operating activities          
Net income $ 157,694 [1] $ 202,823 $ 509,483 [1],[2] $ 457,503 [2]  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation [2]     38,174 35,096  
Stock-based compensation [2]     54,207 68,897  
Provision for losses on accounts receivable [2]     43,520 35,949  
Amortization of deferred financing costs and discounts [2]     4,035 5,411  
Amortization of intangible assets [2]     165,002 158,897  
Amortization of premium on receivables [2]     4,202 4,738  
Loss on extinguishment of debt 0 3,296 0 3,296  
Deferred income taxes [2]     (6,334) (38,092)  
Investment loss 7,147 [1] 47,766 7,147 [1],[2] 52,497 [2]  
Gain on disposition of business     0 (174,984)  
Other non-cash operating income [2]     (140) (49)  
Changes in operating assets and liabilities (net of acquisitions):          
Accounts and other receivables [2]     (640,859) (440,011)  
Prepaid expenses and other current assets [2]     (19,618) (86,648)  
Other assets [2]     (19,922) (15,378)  
Accounts payable, accrued expenses and customer deposits [2]     416,483 364,473  
Net cash provided by operating activities [2]     555,380 431,595  
Investing activities          
Acquisitions, net of cash acquired [2]     (3,799) (602,298)  
Purchases of property and equipment (21,698) (16,859) (56,312) [2] (49,459) [2]  
Proceeds from disposal of a business     0 316,501  
Other     (11,192) [2] (6,327) [2] $ (39,000)
Net cash used in investing activities [2]     (71,303) (341,583)  
Financing activities          
Proceeds from issuance of common stock [2]     48,322 20,192  
Repurchase of common stock [2]     (380,651) (402,392)  
Borrowings on securitization facility, net [2]     120,000 203,000  
Deferred financing costs paid and debt discount     (166) (11,230)  
Proceeds from issuance of notes payable     0 780,656  
Principal payments on notes payable [2]     (103,500) (388,656)  
Borrowings from revolver [2]     834,019 845,000  
Payments on revolver [2]     (897,861) (804,808)  
Borrowings on swing line of credit, net [2]     23,735 7,800  
Other [2]     (230) 537  
Net cash (used in) provided by financing activities [2]     (356,332) 250,099  
Effect of foreign currency exchange rates on cash [2]     (70,065) 34,390  
Net increase in cash and cash equivalents and restricted cash [2]     57,680 374,501  
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] $ 1,188,550 $ 1,018,271 1,188,550 1,018,271 $ 1,130,870
Supplemental cash flow information          
Cash paid for interest [2]     113,785 79,144  
Cash paid for income taxes [2]     $ 162,563 $ 257,349  
[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 effect 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.