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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities      
Net income $ 6,722 $ 64,212 $ 47,480
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property, equipment and internal-use software 58,714 57,101 57,024
Amortization of intangible assets 24,257 23,509 27,775
Provision for uncollectible overdrawn accounts from purchase transactions 24,771 13,771 19,822
Provision for loan losses 26,311 32,352 24,978
Stock-based compensation 33,744 34,812 51,419
Losses (earnings) in equity method investments 9,310 15,648 (1,579)
Amortization of (discount) premium on available-for-sale investment securities (2,276) (1,434) 2,563
Impairment of long-lived assets 0 4,264 0
Deferred income tax (benefit) expense (11,867) (6,674) 2,722
Other (4,100) (4,666) 144
Changes in operating assets and liabilities:      
Accounts receivable, net (60,475) (7,807) (32,468)
Prepaid expenses and other assets 3,354 5,417 (9,171)
Deferred expenses 13,001 2,308 1,477
Accounts payable and other accrued liabilities 690 41,098 (5,308)
Deferred revenue (19,539) (3,694) 1,282
Income tax receivable/payable (5,613) 11,716 (14,128)
Other, net 515 (4,247) (6,999)
Net cash provided by operating activities 97,519 277,686 167,033
Investing activities      
Purchases of available-for-sale investment securities 0 (931,549) (1,395,599)
Proceeds from maturities of available-for-sale securities 176,665 293,748 196,958
Proceeds from sales and calls of available-for-sale securities 186 3,488 6,823
Payments for property, equipment and internal-use software (75,942) (84,326) (57,432)
Net changes in loans (28,970) (32,057) (28,385)
Investment in TailFin Labs, LLC (35,000) (35,000) (35,000)
Purchases of other investments 0 (31,934) (55,000)
Other investing activities (3,782) (2,558) (852)
Net cash provided by (used in) investing activities 33,157 (820,188) (1,368,487)
Financing activities      
Borrowings on revolving line of credit 282,000 100,000 0
Repayments on revolving line of credit (256,000) (65,000) 0
Proceeds from exercise of options and ESPP purchases 5,565 6,177 8,041
Taxes paid related to net share settlement of equity awards (3,903) (5,947) (12,864)
Net changes in deposits (159,436) 157,140 555,062
Net changes in settlement assets and obligations to customers (132,245) (53,991) 488,654
Contingent consideration payments 0 (1,647) (4,000)
Repurchase of Class A common stock 0 (95,525) 0
Other financing activities 0 (4,500) (4,500)
Net cash (used in) provided by financing activities (264,019) 36,707 1,030,393
Net decrease in unrestricted cash, cash equivalents and restricted cash (133,343) (505,795) (171,061)
Unrestricted cash, cash equivalents and restricted cash, beginning of period 819,845 1,325,640 1,496,701
Unrestricted cash, cash equivalents and restricted cash, end of period 686,502 819,845 1,325,640
Cash paid for interest 5,923 627 1,434
Cash paid for income taxes 24,351 12,966 27,200
Unrestricted cash and cash equivalents 682,263 813,945 1,322,319
Restricted cash 4,239 5,900 3,321
Total unrestricted cash, cash equivalents and restricted cash, end of period $ 686,502 $ 819,845 $ 1,325,640