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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities    
Net income $ 82,105 $ 93,452
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation 58,373 48,342
Amortization 43,739 43,582
Non-cash lease expense 4,167 3,599
Amortization of financing costs and discounts 2,140 2,140
Loss on sale or disposal of assets 459 420
Accretion of contract rights 7,005 7,367
Provision for credit losses 8,861 7,286
Deferred income taxes 12,270 28,042
Reserve for inventory obsolescence 1,466 659
Stock-based compensation 14,185 15,012
Changes in operating assets and liabilities:    
Settlement receivables 24,219 12,251
Trade and other receivables (2,583) (23,845)
Inventory (13,444) (23,026)
Prepaid expenses and other assets (4,299) (26,388)
Settlement liabilities (56,995) (59,432)
Accounts payable and accrued expenses (20,655) 17,453
Net cash provided by operating activities 161,013 146,914
Cash flows from investing activities    
Capital expenditures (97,523) (92,225)
Acquisitions, net of cash acquired (59,405) (33,250)
Proceeds from sale of property and equipment 145 115
Placement fee agreements 0 (547)
Net cash used in investing activities (156,783) (125,907)
Cash flows from financing activities    
Repayments of term loan (6,000) (4,500)
Proceeds from exercise of stock options 13,935 1,586
Treasury stock - equity award activities, net of shares withheld (8,126) (11,815)
Treasury stock - repurchase of shares (73,938) (49,351)
Payment of contingent consideration, acquisition (10,451) 0
Net cash used in financing activities (84,580) (64,080)
Effect of exchange rates on cash and cash equivalents (583) (1,106)
Cash, cash equivalents and restricted cash    
Net decrease for the period (80,933) (44,179)
Balance, beginning of the period 295,063 303,726
Balance, end of the period 214,130 259,547
Supplemental cash disclosures    
Cash paid for interest 69,003 42,070
Cash paid for income tax, net 5,076 846
Supplemental non-cash disclosures    
Accrued and unpaid capital expenditures 2,401 5,511
Transfer of leased gaming equipment to inventory $ 5,550 $ 7,758