XML 20 R6.htm IDEA: XBRL DOCUMENT v3.19.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:    
Net income $ 119,205 $ 97,586
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 41,155 33,918
Amortization of acquired intangibles 107,475 87,825
Amortization of capitalized contract costs 15,847 10,213
Share-based compensation expense 11,418 14,898
Provision for operating losses and bad debts 12,709 9,237
Deferred income taxes (5,774) 910
Other, net 9,043 (1,937)
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable (36,493) 13,050
Settlement processing assets and obligations, net 118,347 82,235
Prepaid expenses and other assets (76,740) (56,906)
Accounts payable and other liabilities (86,463) (6,488)
Net cash provided by operating activities 229,729 284,541
Cash flows from investing activities:    
Acquisitions, net of cash acquired (74,830) 0
Capital expenditures (55,123) (43,775)
Other, net 13,672 (1,586)
Net cash used in investing activities (116,281) (45,361)
Cash flows from financing activities:    
Net repayments of settlement lines of credit (55,350) (192,517)
Proceeds from long-term debt 344,000 309,000
Repayments of long-term debt (173,060) (687,820)
Payment of debt issuance costs 0 (586)
Repurchase of common stock (155,997) 0
Proceeds from stock issued under share-based compensation plans 7,848 2,613
Common stock repurchased - share-based compensation plans (9,507) (1,058)
Distributions to noncontrolling interests (5,572) 0
Dividends paid (1,571) (1,593)
Net cash used in financing activities (49,209) (571,961)
Effect of exchange rate changes on cash 2,516 2,749
Increase (decrease) in cash and cash equivalents 66,755 (330,032)
Cash and cash equivalents, beginning of the period 1,210,878 1,335,855
Cash and cash equivalents, end of the period $ 1,277,633 $ 1,005,823