XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 249,636 $ 198,410
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 99,665 96,372
Amortization of acquired intangibles 329,007 329,201
Amortization of capitalized contract costs 25,906 21,050
Share-based compensation expense 38,399 37,165
Provision for operating losses and credit losses 28,523 23,405
Noncash lease expense 21,555 27,066
Deferred income taxes (80,841) (56,390)
Equity in income of equity method investments, net of tax (17,479) (22,733)
Distribution received on investments 6,022 438
Other, net 6,127 (6,285)
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable (34,191) (37,141)
Settlement processing assets and obligations, net 48,198 21,714
Prepaid expenses and other assets (115,904) (33,128)
Accounts payable and other liabilities 25,377 262
Net cash provided by operating activities 630,000 599,406
Cash flows from investing activities:    
Business combinations and other acquisitions, net of cash acquired (4,726) (11,074)
Capital expenditures (156,102) (86,159)
Other, net 5 293
Net cash used in investing activities (160,823) (96,940)
Cash flows from financing activities:    
Net borrowings from settlement lines of credit 16,497 108,488
Proceeds from long-term debt 1,529,157 1,987,005
Repayments of long-term debt (1,176,496) (1,575,435)
Payments of debt issuance costs (1,706) (6,819)
Repurchases of common stock (649,654) (802,955)
Proceeds from stock issued under share-based compensation plans 7,940 17,705
Common stock repurchased - share-based compensation plans (26,295) (39,437)
Distributions to noncontrolling interests (5,534) 0
Dividends paid (70,243) (57,574)
Net cash used in financing activities (376,334) (369,022)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (36,147) (21,141)
Increase in cash, cash equivalents and restricted cash 56,696 112,303
Cash, cash equivalents and restricted cash, beginning of the period 2,123,023 2,089,771
Cash, cash equivalents and restricted cash, end of the period $ 2,179,719 $ 2,202,074