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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
[1]
Dec. 31, 2017
Dec. 31, 2016
Income Statement [Abstract]      
Revenues, net $ 2,433,492 $ 2,249,538 $ 1,831,546
Expenses:      
Merchant commissions 0 113,133 104,345
Processing 487,695 429,613 355,414
Selling 182,593 170,717 131,443
General and administrative 389,172 387,694 283,625
Depreciation and amortization 274,609 264,560 203,256
Other operating expense (income), net 8,725 61 (690)
Operating income 1,090,698 883,760 754,153
Investment loss [2] 7,147 53,164 36,356
Other (income) expense, net (152,166) (173,436) 2,982
Interest expense, net 138,494 107,146 71,896
Loss on extinguishment of debt [2] 2,098 3,296 0
Total other (income) expense (4,427) (9,830) 111,234
Income before income taxes 1,095,125 893,590 642,919
Provision for income taxes 283,642 153,390 190,534
Net income [2] $ 811,483 $ 740,200 $ 452,385
Earnings per share:      
Basic earnings per share (in usd per share) $ 9.14 $ 8.12 $ 4.89
Diluted earnings per share (in usd per share) $ 8.81 $ 7.91 $ 4.75
Weighted average shares outstanding:      
Basic (in shares) 88,750 91,129 92,597
Diluted (in shares) 92,151 93,594 95,213
[1] Reflects the impact of the Company's adoption of Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) ("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 Form 10-K and quarterly reports on Form 10-Q will not be restated to reflect ASC 606.
[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.