Related Party Transactions

6 Months Ended

Jun. 30, 2016

Note 13 – Related Party Transactions

The following table presents the Company’s transactions with related parties for the three and six months ended June 30, 2016 and 2015:


	Three months ended June 30,				Six months ended June 30,
(Dollar amounts in thousands)	2016		2015		2016		2015
(Dollar amounts in thousands)			(As restated)				(As restated)
Total revenues ⁽¹⁾⁽²⁾	$	43,611	$	43,261	$	86,764	$	84,371

Cost of revenues	$	539	$	426	$	798	$	1,122

Rent and other fees	$	2,029	$	1,974	$	3,963	$	3,967

Interest earned from and charged by affiliate
Interest income	$	55	$	43	$	114	$	87

⁽¹⁾	Total revenues from Popular as a percentage of revenues were 44%, 46%, 44% and 45% for each of the periods presented above.

⁽²⁾	Includes revenues generated from investee accounted for under the equity method of $0.5 million and $1.0 million for the three and six months ended June 30, 2016, respectively, and $0.5 million and $1.1 million for the corresponding 2015 periods.

At June 30, 2016 and December 31, 2015, EVERTEC had the following balances arising from transactions with related parties:


(Dollar amounts in thousands)	June 30, 2016		December 31, 2015
Cash and restricted cash deposits in affiliated bank	$	15,954	$	23,872

Other due/to from affiliate
Accounts receivable	$	18,803	$	20,196

Prepaid expenses and other assets	$	65	$	867

Accounts payable⁽¹⁾	$	2,759	$	2,687

Unearned income⁽²⁾	$	12,936	$	11,970

Other long-term liabilities ⁽¹⁾	$	14	$	14

⁽¹⁾

Includes an account payable and a long-term liability of $13,700 for June 30, 2016 and an account payable of $32,000 and a long-term liability of $13,700 for December 31, 2015, related to the unvested portion of stock options as a result of the equitable adjustment approved by our Board of Directors on December 18, 2012 that will be payable to executive officers and employees upon vesting of stock options.

⁽²⁾	Includes current and long-term unearned income.