(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
(Address of principal executive offices) | (Zip Code) |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Title of each class | Trading Symbols(s) | Name of each exchange on which registered | ||||||
(d) | Exhibits | ||||
FLEETCOR Technologies, Inc. press release dated November 3, 2021 | |||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
FleetCor Technologies, Inc. | ||||||||||||||||||||
November 3, 2021 | By: /s/ Charles R. Freund | |||||||||||||||||||
Charles R. Freund | ||||||||||||||||||||
Chief Financial Officer |
Exhibit No. | Description | |||||||
Press release dated November 3, 2021. | ||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL). |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Revenues, net | $ | 755,477 | $ | 585,283 | $ | 2,031,481 | $ | 1,771,522 | ||||||||||||||||||
Expenses: | ||||||||||||||||||||||||||
Processing | 149,564 | 119,856 | 388,286 | 474,849 | ||||||||||||||||||||||
Selling | 71,204 | 46,762 | 186,511 | 144,995 | ||||||||||||||||||||||
General and administrative | 121,785 | 90,868 | 345,155 | 283,717 | ||||||||||||||||||||||
Depreciation and amortization | 74,237 | 63,479 | 209,184 | 190,117 | ||||||||||||||||||||||
Other operating, net | — | (214) | 81 | (482) | ||||||||||||||||||||||
Operating income | 338,687 | 264,532 | 902,264 | 678,326 | ||||||||||||||||||||||
Investment loss (gain) | — | 1,330 | (9) | (30,008) | ||||||||||||||||||||||
Other expense (income), net | 1,532 | (3,591) | 3,683 | (10,477) | ||||||||||||||||||||||
Interest expense, net | 29,033 | 31,383 | 92,269 | 99,474 | ||||||||||||||||||||||
Total other expense | 30,565 | 29,122 | 95,943 | 58,989 | ||||||||||||||||||||||
Income before income taxes | 308,122 | 235,410 | 806,321 | 619,337 | ||||||||||||||||||||||
Provision for income taxes | 74,115 | 46,593 | 191,828 | 124,972 | ||||||||||||||||||||||
Net income | $ | 234,007 | $ | 188,817 | $ | 614,493 | $ | 494,365 | ||||||||||||||||||
Basic earnings per share | $ | 2.86 | $ | 2.26 | $ | 7.42 | $ | 5.87 | ||||||||||||||||||
Diluted earnings per share | $ | 2.80 | $ | 2.19 | $ | 7.24 | $ | 5.68 | ||||||||||||||||||
Weighted average shares outstanding: | ||||||||||||||||||||||||||
Basic shares | 81,836 | 83,719 | 82,811 | 84,170 | ||||||||||||||||||||||
Diluted shares | 83,716 | 86,273 | 84,917 | 87,006 |
September 30, 2021 | December 31, 2020 | |||||||||||||
(Unaudited) | ||||||||||||||
Assets | ||||||||||||||
Current assets: | ||||||||||||||
Cash and cash equivalents | $ | 1,271,000 | $ | 934,900 | ||||||||||
Restricted cash | 737,937 | 541,719 | ||||||||||||
Accounts and other receivables (less allowance) | 2,071,523 | 1,366,775 | ||||||||||||
Securitized accounts receivable — restricted for securitization investors | 1,098,000 | 700,000 | ||||||||||||
Prepaid expenses and other current assets | 345,831 | 412,924 | ||||||||||||
Total current assets | 5,524,291 | 3,956,318 | ||||||||||||
Property and equipment, net | 220,643 | 202,509 | ||||||||||||
Goodwill | 5,102,263 | 4,719,181 | ||||||||||||
Other intangibles, net | 2,369,457 | 2,115,882 | ||||||||||||
Investments | 11,857 | 7,480 | ||||||||||||
Other assets | 225,872 | 193,209 | ||||||||||||
Total assets | $ | 13,454,383 | $ | 11,194,579 | ||||||||||
Liabilities and Stockholders’ Equity | ||||||||||||||
Current liabilities: | ||||||||||||||
Accounts payable | $ | 1,726,705 | $ | 1,054,478 | ||||||||||
Accrued expenses | 327,271 | 282,681 | ||||||||||||
Customer deposits | 1,533,145 | 1,175,322 | ||||||||||||
Securitization facility | 1,098,000 | 700,000 | ||||||||||||
Current portion of notes payable and lines of credit | 803,397 | 505,697 | ||||||||||||
Other current liabilities | 177,752 | 250,133 | ||||||||||||
Total current liabilities | 5,666,270 | 3,968,311 | ||||||||||||
Notes payable and other obligations, less current portion | 3,789,981 | 3,126,926 | ||||||||||||
Deferred income taxes | 564,445 | 498,154 | ||||||||||||
Other noncurrent liabilities | 258,702 | 245,777 | ||||||||||||
Total noncurrent liabilities | 4,613,128 | 3,870,857 | ||||||||||||
Commitments and contingencies | ||||||||||||||
Stockholders’ equity: | ||||||||||||||
Common stock | 127 | 126 | ||||||||||||
Additional paid-in capital | 2,850,143 | 2,749,900 | ||||||||||||
Retained earnings | 6,031,438 | 5,416,945 | ||||||||||||
Accumulated other comprehensive loss | (1,436,044) | (1,363,158) | ||||||||||||
Treasury stock | (4,270,679) | (3,448,402) | ||||||||||||
Total stockholders’ equity | 3,174,985 | 3,355,411 | ||||||||||||
Total liabilities and stockholders’ equity | $ | 13,454,383 | $ | 11,194,579 |
Nine Months Ended September 30, | ||||||||||||||
2021 | 2020 | |||||||||||||
Operating activities | ||||||||||||||
Net income | $ | 614,493 | $ | 494,365 | ||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Depreciation | 55,605 | 48,150 | ||||||||||||
Stock-based compensation | 52,085 | 35,069 | ||||||||||||
Provision for credit losses on accounts and other receivables | 19,419 | 152,485 | ||||||||||||
Amortization of deferred financing costs and discounts | 4,903 | 5,028 | ||||||||||||
Amortization of intangible assets and premium on receivables | 153,579 | 141,967 | ||||||||||||
Loss on extinguishment of debt | 6,230 | — | ||||||||||||
Deferred income taxes | 16,246 | (5,747) | ||||||||||||
Investment gain | (9) | (30,008) | ||||||||||||
Other | 81 | (482) | ||||||||||||
Changes in operating assets and liabilities (net of acquisitions/dispositions): | ||||||||||||||
Accounts and other receivables | (1,020,900) | 49,690 | ||||||||||||
Prepaid expenses and other current assets | 190,543 | 26,105 | ||||||||||||
Other assets | 28,370 | 6,129 | ||||||||||||
Accounts payable, accrued expenses and customer deposits | 478,896 | 291,945 | ||||||||||||
Net cash provided by operating activities | 599,541 | 1,214,696 | ||||||||||||
Investing activities | ||||||||||||||
Acquisitions, net of cash acquired | (545,052) | (72,557) | ||||||||||||
Purchases of property and equipment | (74,455) | (55,019) | ||||||||||||
Proceeds from disposal of investment | — | 52,963 | ||||||||||||
Other | (2,281) | — | ||||||||||||
Net cash used in investing activities | (621,788) | (74,613) | ||||||||||||
Financing activities | ||||||||||||||
Proceeds from issuance of common stock | 48,159 | 95,780 | ||||||||||||
Repurchase of common stock | (822,277) | (788,409) | ||||||||||||
Borrowings (payments) on securitization facility, net | 398,000 | (282,973) | ||||||||||||
Deferred financing costs paid and debt discount | (21,508) | (2,474) | ||||||||||||
Proceeds from issuance of notes payable | 1,150,000 | — | ||||||||||||
Principal payments on notes payable | (462,438) | (134,097) | ||||||||||||
Borrowings from revolver | 1,140,000 | 1,198,500 | ||||||||||||
Payments on revolver | (798,851) | (1,287,899) | ||||||||||||
Payments on swing line of credit, net | (51,049) | (20,111) | ||||||||||||
Other | (811) | (244) | ||||||||||||
Net cash provided by (used in) financing activities | 579,225 | (1,221,927) | ||||||||||||
Effect of foreign currency exchange rates on cash | (24,660) | (222,533) | ||||||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | 532,318 | (304,377) | ||||||||||||
Cash and cash equivalents and restricted cash, beginning of period | 1,476,619 | 1,675,237 | ||||||||||||
Cash and cash equivalents and restricted cash, end of period | $ | 2,008,937 | $ | 1,370,860 | ||||||||||
Supplemental cash flow information | ||||||||||||||
Cash paid for interest, net | $ | 96,146 | $ | 98,564 | ||||||||||
Cash paid for income taxes, net | $ | 147,028 | $ | 119,089 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Net income | $ | 234,007 | $ | 188,817 | $ | 614,493 | $ | 494,365 | ||||||||||||||||||
Stock based compensation | 16,453 | 11,905 | 52,085 | 35,069 | ||||||||||||||||||||||
Amortization1 | 56,381 | 49,078 | 158,482 | 146,995 | ||||||||||||||||||||||
Investment loss (gain) | — | 1,330 | (9) | (30,008) | ||||||||||||||||||||||
Loss on extinguishment of debt | — | — | 6,230 | — | ||||||||||||||||||||||
Integration and deal related costs | 6,638 | 1,768 | 18,132 | 11,035 | ||||||||||||||||||||||
Restructuring and related (subsidies) costs | (568) | 185 | (1,922) | 4,912 | ||||||||||||||||||||||
Legal settlements/litigation | 561 | 2,048 | 5,619 | (2,989) | ||||||||||||||||||||||
Write-off of customer receivable2 | — | — | — | 90,058 | ||||||||||||||||||||||
Total pre-tax adjustments | 79,465 | 66,313 | 238,617 | 255,072 | ||||||||||||||||||||||
Income taxes3 | (19,114) | (13,196) | (48,193) | (45,581) | ||||||||||||||||||||||
Adjusted net income | $ | 294,358 | $ | 241,934 | $ | 804,917 | $ | 703,856 | ||||||||||||||||||
Adjusted net income per diluted share | $ | 3.52 | $ | 2.80 | $ | 9.48 | $ | 8.09 | ||||||||||||||||||
Diluted shares | 83,716 | 86,273 | 84,917 | 87,006 |
1Includes amortization related to intangible assets, premium on receivables, deferred financing costs and debt discounts. | ||
2 Represents a loss in the first quarter of 2020 from a large client in our cross-border payments business entering voluntary bankruptcy due to the extraordinary impact of the COVID-19 pandemic. | ||
3 Represents provision for income taxes of pre-tax adjustments. 2021 includes remeasurement of deferreds due to the increase in UK corporate tax rate from 19% to 25% of $6.5 million. 2020 includes a tax reserve adjustment related to prior year tax positions of $9.8 million. | ||
*Columns may not calculate due to rounding. |
The following table presents revenue and revenue per key performance metric by solution.* | ||||||||||||||||||||||||||||||||||||||||||||||||||
As Reported | Pro Forma and Macro Adjusted2 | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | Change | % Change | 2021 | 2020 | Change | % Change | |||||||||||||||||||||||||||||||||||||||||||
FUEL | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 306.8 | $ | 255.1 | $ | 51.6 | 20 | % | $ | 288.7 | $ | 255.6 | $ | 33.1 | 13 | % | ||||||||||||||||||||||||||||||||||
'- Transactions | 117.7 | 113.6 | 4.1 | 4 | % | 117.7 | 113.9 | 3.8 | 3 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per transaction | $ | 2.61 | $ | 2.25 | $ | 0.36 | 16 | % | $ | 2.45 | $ | 2.24 | $ | 0.21 | 9 | % | ||||||||||||||||||||||||||||||||||
CORPORATE PAYMENTS | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 168.7 | $ | 106.5 | $ | 62.2 | 58 | % | $ | 165.6 | $ | 135.9 | $ | 29.7 | 22 | % | ||||||||||||||||||||||||||||||||||
'- Spend volume | 25,666 | 15,567 | $ | 10,099 | 65 | % | 25,666 | 19,617 | $ | 6,050 | 31 | % | ||||||||||||||||||||||||||||||||||||||
'- Revenues, net per spend $ | 0.66 | % | 0.68 | % | (0.03) | % | (4) | % | 0.65 | % | 0.69 | % | (0.05) | % | (7) | % | ||||||||||||||||||||||||||||||||||
TOLLS | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 79.0 | $ | 67.6 | $ | 11.4 | 17 | % | $ | 76.9 | $ | 67.6 | $ | 9.2 | 14 | % | ||||||||||||||||||||||||||||||||||
'- Tags (average monthly) | 6.0 | 5.4 | 0.6 | 11 | % | 6.0 | 5.4 | 0.6 | 11 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per tag | $ | 13.25 | $ | 12.60 | $ | 0.65 | 5 | % | $ | 12.89 | $ | 12.60 | $ | 0.29 | 2 | % | ||||||||||||||||||||||||||||||||||
LODGING | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 85.2 | $ | 52.9 | $ | 32.4 | 61 | % | $ | 85.2 | $ | 60.7 | $ | 24.5 | 40 | % | ||||||||||||||||||||||||||||||||||
'- Room nights | 7.6 | 5.4 | 2.2 | 41 | % | 7.6 | 6.1 | 1.5 | 25 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per room night | $ | 11.14 | $ | 9.77 | $ | 1.37 | 14 | % | $ | 11.14 | $ | 9.96 | $ | 1.18 | 12 | % | ||||||||||||||||||||||||||||||||||
GIFT | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 48.6 | $ | 39.1 | $ | 9.6 | 25 | % | $ | 48.6 | $ | 39.1 | $ | 9.6 | 25 | % | ||||||||||||||||||||||||||||||||||
'- Transactions | 256.2 | 242.7 | 13.4 | 6 | % | 256.2 | 242.7 | 13.4 | 6 | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per transaction | $ | 0.19 | $ | 0.16 | $ | 0.03 | 18 | % | $ | 0.19 | $ | 0.16 | $ | 0.03 | 18 | % | ||||||||||||||||||||||||||||||||||
OTHER1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 67.2 | $ | 64.1 | $ | 3.1 | 5 | % | $ | 65.4 | $ | 64.1 | $ | 1.3 | 2 | % | ||||||||||||||||||||||||||||||||||
'- Transactions | 8.9 | 9.9 | (1.0) | (10) | % | 8.9 | 9.9 | (1.0) | (10) | % | ||||||||||||||||||||||||||||||||||||||||
'- Revenues, net per transaction | $ | 7.58 | $ | 6.48 | $ | 1.10 | 17 | % | $ | 7.39 | $ | 6.48 | $ | 0.91 | 14 | % | ||||||||||||||||||||||||||||||||||
FLEETCOR CONSOLIDATED REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
'- Revenues, net | $ | 755.5 | $ | 585.3 | $ | 170.2 | 29 | % | $ | 730.3 | $ | 623.0 | $ | 107.3 | 17 | % |
1 Other includes telematics, maintenance, food, transportation and payroll card related businesses. | ||
2 See Exhibit 5 for a reconciliation of Pro forma and Macro Adjusted revenue by solution and metrics, non-GAAP measures, to the GAAP equivalent. | ||
*Columns may not calculate due to rounding. |
Revenues by Geography* | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | % | 2020 | % | 2021 | % | 2020 | % | ||||||||||||||||||||||||||||||||||||||||
US | $ | 488 | 65 | % | $ | 357 | 61 | % | $ | 1,271 | 63 | % | $ | 1,090 | 62 | % | |||||||||||||||||||||||||||||||
Brazil | 95 | 13 | % | 80 | 14 | % | 262 | 13 | % | 254 | 14 | % | |||||||||||||||||||||||||||||||||||
UK | 82 | 11 | % | 70 | 12 | % | 241 | 12 | % | 193 | 11 | % | |||||||||||||||||||||||||||||||||||
Other | 91 | 12 | % | 78 | 13 | % | 256 | 13 | % | 235 | 13 | % | |||||||||||||||||||||||||||||||||||
Consolidated Revenues, net | $ | 755 | 100 | % | $ | 585 | 100 | % | $ | 2,031 | 100 | % | $ | 1,772 | 100 | % |
Revenues by Solution* | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | % | 2020 | % | 2021 | % | 2020 | % | ||||||||||||||||||||||||||||||||||||||||
Fuel | $ | 307 | 41 | % | $ | 255 | 44 | % | $ | 864 | 43 | % | $ | 797 | 45 | % | |||||||||||||||||||||||||||||||
Corporate Payments | 169 | 22 | % | 107 | 18 | % | 425 | 21 | % | 319 | 18 | % | |||||||||||||||||||||||||||||||||||
Tolls | 79 | 10 | % | 68 | 12 | % | 219 | 11 | % | 215 | 12 | % | |||||||||||||||||||||||||||||||||||
Lodging | 85 | 11 | % | 53 | 9 | % | 206 | 10 | % | 150 | 8 | % | |||||||||||||||||||||||||||||||||||
Gift | 49 | 6 | % | 39 | 7 | % | 124 | 6 | % | 108 | 6 | % | |||||||||||||||||||||||||||||||||||
Other | 67 | 9 | % | 64 | 11 | % | 192 | 9 | % | 182 | 10 | % | |||||||||||||||||||||||||||||||||||
Consolidated Revenues, net | $ | 755 | 100 | % | $ | 585 | 100 | % | $ | 2,031 | 100 | % | $ | 1,772 | 100 | % |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
20211 | 2020 | 20211 | 2020 | |||||||||||||||||||||||
Revenues, net: | ||||||||||||||||||||||||||
North America | $ | 520,535 | $ | 383,828 | $ | 1,366,167 | $ | 1,175,950 | ||||||||||||||||||
Brazil | 94,888 | 79,596 | 262,481 | 253,722 | ||||||||||||||||||||||
International | 140,054 | 121,859 | 402,833 | 341,850 | ||||||||||||||||||||||
$ | 755,477 | $ | 585,283 | $ | 2,031,481 | $ | 1,771,522 | |||||||||||||||||||
Operating income: | ||||||||||||||||||||||||||
North America | $ | 213,379 | $ | 153,328 | $ | 554,607 | $ | 372,219 | ||||||||||||||||||
Brazil | 39,868 | 35,600 | 105,424 | 104,462 | ||||||||||||||||||||||
International | 85,440 | 75,604 | 242,233 | 201,645 | ||||||||||||||||||||||
$ | 338,687 | $ | 264,532 | $ | 902,264 | $ | 678,326 | |||||||||||||||||||
Depreciation and amortization: | ||||||||||||||||||||||||||
North America | $ | 49,005 | $ | 39,390 | $ | 133,420 | $ | 115,913 | ||||||||||||||||||
Brazil | 12,910 | 12,260 | 38,091 | 39,019 | ||||||||||||||||||||||
International | 12,322 | 11,829 | 37,673 | 35,185 | ||||||||||||||||||||||
$ | 74,237 | $ | 63,479 | $ | 209,184 | $ | 190,117 | |||||||||||||||||||
Capital expenditures: | ||||||||||||||||||||||||||
North America | $ | 17,572 | $ | 12,053 | $ | 44,427 | $ | 35,590 | ||||||||||||||||||
Brazil | 5,795 | 3,501 | 15,580 | 10,309 | ||||||||||||||||||||||
International | 5,323 | 2,595 | 14,448 | 9,120 | ||||||||||||||||||||||
$ | 28,690 | $ | 18,149 | $ | 74,455 | $ | 55,019 |
1Results from the 2021 acquisitions of Roger, AFEX and ALE are reported in our North America segment. |
Revenues, net | Key Performance Metric | ||||||||||||||||||||||||||||
Three Months Ended September 30, | Three Months Ended September 30, | ||||||||||||||||||||||||||||
2021* | 2020* | 2021* | 2020* | ||||||||||||||||||||||||||
FUEL - TRANSACTIONS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 288.7 | $ | 255.6 | 117.7 | 113.9 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (0.5) | — | (0.3) | |||||||||||||||||||||||||
Impact of fuel prices/spread | 12.7 | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | 5.3 | — | — | — | |||||||||||||||||||||||||
As reported | $ | 306.8 | $ | 255.1 | 117.7 | 113.6 | |||||||||||||||||||||||
CORPORATE PAYMENTS - SPEND | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 165.6 | $ | 135.9 | 25,666 | 19,617 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (29.4) | — | (4,049) | |||||||||||||||||||||||||
Impact of fuel prices/spread | 0.4 | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | 2.8 | — | — | — | |||||||||||||||||||||||||
As reported | $ | 168.7 | $ | 106.5 | 25,666 | 15,567 | |||||||||||||||||||||||
TOLLS - TAGS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 76.9 | $ | 67.6 | 6.0 | 5.4 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | — | — | — | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | 2.2 | — | — | — | |||||||||||||||||||||||||
As reported | $ | 79.0 | $ | 67.6 | 6.0 | 5.4 | |||||||||||||||||||||||
LODGING - ROOM NIGHTS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 85.2 | $ | 60.7 | 7.6 | 6.1 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (7.9) | — | (0.7) | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | — | — | — | — | |||||||||||||||||||||||||
As reported | $ | 85.2 | $ | 52.9 | 7.6 | 5.4 | |||||||||||||||||||||||
GIFT - TRANSACTIONS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 48.6 | $ | 39.1 | 256.2 | 242.7 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | — | — | — | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | — | — | — | — | |||||||||||||||||||||||||
As reported | $ | 48.6 | $ | 39.1 | 256.2 | 242.7 | |||||||||||||||||||||||
OTHER1 - TRANSACTIONS | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 65.4 | $ | 64.1 | 8.9 | 9.9 | |||||||||||||||||||||||
Impact of acquisitions/dispositions | — | — | — | — | |||||||||||||||||||||||||
Impact of fuel prices/spread | — | — | — | — | |||||||||||||||||||||||||
Impact of foreign exchange rates | 1.8 | — | — | — | |||||||||||||||||||||||||
As reported | $ | 67.2 | $ | 64.1 | 8.9 | 9.9 | |||||||||||||||||||||||
FLEETCOR CONSOLIDATED REVENUES | |||||||||||||||||||||||||||||
Pro forma and macro adjusted | $ | 730.3 | $ | 623.0 | Intentionally Left Blank | ||||||||||||||||||||||||
Impact of acquisitions/dispositions | — | (37.7) | |||||||||||||||||||||||||||
Impact of fuel prices/spread2 | 13.1 | — | |||||||||||||||||||||||||||
Impact of foreign exchange rates2 | 12.1 | — | |||||||||||||||||||||||||||
As reported | $ | 755.5 | $ | 585.3 | |||||||||||||||||||||||||
* Columns may not calculate due to rounding. | |||||||||||||||||||||||||||||
1Other includes telematics, maintenance, food, transportation and payroll card related businesses. | |||||||||||||||||||||||||||||
2 Revenues reflect an estimated $17 million positive impact from fuel prices and approximately $12 million positive impact due to movements in foreign exchange rates, partially offset by $4 million negative impact from fuel price spreads. |
2021 GUIDANCE | ||||||||||||||
Low* | High* | |||||||||||||
Net income | $ | 837 | $ | 847 | ||||||||||
Net income per diluted share | $ | 9.90 | $ | 10.00 | ||||||||||
Stock based compensation | 81 | 81 | ||||||||||||
Amortization | 218 | 218 | ||||||||||||
Other | 32 | 32 | ||||||||||||
Total pre-tax adjustments | 331 | 331 | ||||||||||||
Income taxes | (69) | (69) | ||||||||||||
Adjusted net income | $ | 1,100 | $ | 1,110 | ||||||||||
Adjusted net income per diluted share | $ | 13.00 | $ | 13.10 | ||||||||||
Diluted shares | 85 | 85 | ||||||||||||
*Columns may not calculate due to rounding. | ||||||||||||||
Document and Entity Information Document |
Nov. 03, 2021 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Nov. 03, 2021 |
Entity Registrant Name | FLEETCOR Technologies, Inc. |
Entity Central Index Key | 0001175454 |
Amendment Flag | false |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 001-35004 |
Entity Tax Identification Number | 72-1074903 |
Entity Address, Address Line One | 3280 Peachtree Road, Suite 2400 |
Entity Address, City or Town | Atlanta |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 30305 |
City Area Code | 770 |
Local Phone Number | 449-0479 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | FLT |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
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