XML 133 R29.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Related Party Transactions
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
The following table presents the Company’s transactions with related parties for each of the periods presented below:
 
Years ended December 31,
(Dollar amounts in thousands)
2019
 
2018
 
2017
Total revenues (1)(2)
$
209,053

 
$
188,060

 
$
177,213

Cost of revenues
$
5,094

 
$
3,422

 
$
2,929

Rent and other fees
$
8,519

 
$
8,046

 
$
7,803

Interest earned from an affiliate
 
 
 
 
 
Interest income
$
161

 
$
147

 
$
154

 
(1)
Total revenues from Popular as a percentage of revenues were 43%, 41% and 43% for each of the periods presented above.
(2)
Includes revenues generated from investee accounted for under the equity method of $1.1 million, $1.3 million and $1.8 million for the years ended December 31, 2019, 2018 and 2017, respectively.
At December 31, 2019 and 2018, the Company had the following balances arising from transactions with related parties:
 
December 31,
(In thousands)
2019
 
2018
 
 
 
 
Cash and restricted cash deposits in affiliated bank
$
64,724

 
$
29,136

Other due/to from affiliate
 
 
 
Accounts receivable
$
39,095

 
$
25,714

Prepaid expenses and other assets
$
4,211

 
$
2,796

Operating lease right-of use assets
$
20,617

 
$

Other long-term assets
$
57

 
$
166

Accounts payable
$
7,250

 
$
6,344

Unearned income
$
35,489

 
$
25,401

Operating lease liabilities
$
20,905

 
$


The balance of cash and restricted cash deposits in an affiliated bank was included within the cash and cash equivalents and restricted cash line items in the accompanying consolidated balance sheets. Due from affiliates mainly included the amounts outstanding related to processing and information technology services billed to Popular subsidiaries according to the terms of the Master Services Agreement (“MSA”) under which EVERTEC Group has a contract to provide such services for at least 15 years on an exclusive basis for the duration of the agreement on commercial terms consistent with historical pricing practices among the parties. This amount was included in the accounts receivable, net in the consolidated balance sheets.