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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 125,402 $ 130,580
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 51,197 40,079
Amortization of acquired intangibles 165,117 87,675
Share-based compensation expense 21,153 17,372
Provision for operating losses and bad debts 25,940 16,720
Amortization of capitalized customer acquisition costs 19,681 3,352
Deferred income taxes (38,603) (19,719)
Gain on sale of investments 0 (41,150)
Other, net 17,057 8,901
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Accounts receivable (4,901) 8,907
Claims receivable (11,335) (10,854)
Settlement processing assets and obligations, net (63,523) 14,307
Prepaid expenses and other assets 30,679 (47,940)
Capitalized customer acquisition costs (44,351) (20,127)
Accounts payable and other liabilities (25,452) 61,194
Net cash provided by operating activities 268,061 249,297
Cash flows from investing activities:    
Business acquisitions, net of cash acquired 0 (1,826,657)
Capital expenditures (89,958) (62,910)
Proceeds from sale of investments 0 37,717
Proceeds from sales of property and equipment 37,497 57
Other, net (34,242) (370)
Net cash used in investing activities (86,703) (1,852,163)
Cash flows from financing activities:    
Net payments on settlement lines of credit (88,490) (97,652)
Proceeds from long-term debt 902,324 3,047,052
Repayments of long-term debt (1,082,898) (809,933)
Payment of debt issuance costs (9,461) (58,448)
Repurchase of common stock (5,342) (82,836)
Proceeds from stock issued under share-based compensation plans 6,188 2,424
Common stock repurchased - share-based compensation plans (418) (337)
Proceeds from sale of subsidiary shares to noncontrolling interest 0 16,374
Distributions to noncontrolling interests (9,301) (4,740)
Dividends paid (3,551) (2,837)
Net (used in) provided by financing activities (290,949) 2,009,067
Effect of exchange rate changes on cash 27,388 (5,582)
(Decrease) increase in cash and cash equivalents (82,203) 400,619
Cash and cash equivalents, beginning of the period 1,162,779 587,751
Cash and cash equivalents, end of the period $ 1,080,576 $ 988,370