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Subsequent Events
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Acquisition
In February 2025, the Company announced a definitive agreement to acquire 100% of Gringo, a leading Brazil-based vehicle
registration and compliance payment company, for approximately $147 million, net of cash of approximately $22 million.
Gringo's digital app and national network help drivers in Brazil pay for vehicle taxes, registration and fines. The transaction is
expected to close in the first quarter of 2025, subject to regulatory approval and standard closing conditions and will be
reflected in the Company's Vehicle Payments segment.
Net Investment Hedges
In January 2025, the Company terminated its existing CAD cross-currency interest rate swaps designated as net investment
hedges and subsequently entered into four new cross-currency interest rate swaps designated as net investment hedges of its
investments in CAD-denominated operations. These contracts effectively convert an aggregate $800 million of U.S. dollar
equivalent to an obligation denominated in CAD and partially offset the impact of changes in currency rates on the Company's
CAD-denominated net investments. These contracts also create a positive interest differential on the U.S. dollar-denominated
portion of the swap, resulting in a weighted average interest rate savings of 1.35% on the USD notional.
Debt Arrangements
On January 24, 2025, the Company entered into an omnibus amendment to its Securitization Facility. The amendment increased
the Securitization Facility commitment from $1.7 billion to $1.8 billion and extended the maturity of the Securitization Facility
to January 24, 2028. The omnibus amendment also reduced the program fee by 5 bps to SOFR plus 0.10% adjustment plus
0.90% or the Commercial Paper Rate plus 0.80% and decreased the unused facility fee by 5 for two of the purchasers.
On February 20, 2025, the Company entered into the sixteenth amendment to the Credit Agreement. The amendment increased
the Term Loan B commitments by an incremental $750 million. The Company used the Term Loan B proceeds to pay down
existing borrowings under the revolving credit facility and other general corporate purposes. The maturity dates and the interest
rates for the Company's Credit Agreement were unchanged by this amendment.