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Goodwill and Other Intangible Assets (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Changes in Goodwill |
The changes in goodwill during the period January 1 to December 31, 2014 were as follows: | | | | | | | | | | | | | | Fleet Payment Solutions Segment (a) | | Other Payment Solutions Segment (a) | | Total (a) | Gross goodwill, beginning of period (a) | $ | 754,886 |
| | $ | 82,514 |
| | $ | 837,400 |
| Impact of foreign currency translation | (16,391 | ) | | (4,222 | ) | | (20,613 | ) | Acquisition of Evolution1 | — |
| | 296,132 |
| | 296,132 |
| Sale of subsidiary | (19,137 | ) | | — |
| | (19,137 | ) | Acquisition of Esso portfolio in Europe | 40,091 |
| | — |
| | 40,091 |
| Gross goodwill, end of period | 759,449 |
| | 374,424 |
| | 1,133,873 |
| Accumulated impairment, end of period | (1,337 | ) | | (16,171 | ) | | (17,508 | ) | Net goodwill, end of period | $ | 758,112 |
| | $ | 358,253 |
| | $ | 1,116,365 |
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| | (a) | The prior year amounts have been adjusted to reflect changes as a result of finalizing the purchase accounting. |
The changes in goodwill during the period January 1 to December 31, 2013 were as follows: | | | | | | | | | | | | | | Fleet Payment Solutions Segment (a) | | Other Payment Solutions Segment (a) | | Total (a) | | | | | | | Gross goodwill, beginning of period | $ | 779,654 |
| | $ | 85,840 |
| | $ | 865,494 |
| Impact of foreign currency translation | (30,540 | ) | | (3,326 | ) | | (33,866 | ) | Acquisition of FastCred | 5,772 |
| | — |
| | 5,772 |
| Gross goodwill, end of period (a) | 754,886 |
| | 82,514 |
| | 837,400 |
| Accumulated impairment, end of period | (1,337 | ) | | (16,171 | ) | | (17,508 | ) | Net goodwill, end of period | $ | 753,549 |
| | $ | 66,343 |
| | $ | 819,892 |
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| Changes in Other Intangible Assets |
The changes in intangible assets during the period January 1 to December 31, 2014, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Net Carrying Amount, Beginning of Period (a) | | Acquisitions | | Amortization | | Disposals | | Impacts of Foreign Currency Translation | | Net Carrying Amount, End of Period | | | | | | | | | | | | | Definite-lived intangible assets | | | | | | | | | | | | Acquired software and developed technology (a) | $ | 61,590 |
| | $ | 70,000 |
| | $ | (10,091 | ) | | $ | — |
| | $ | (1,990 | ) | | $ | 119,509 |
| Customer relationships (a) | 127,403 |
| | 218,720 |
| | (28,575 | ) | | (3,727 | ) | | (3,997 | ) | | 309,824 |
| Licensing agreements | — |
| | 36,979 |
| | (390 | ) | | — |
| | (874 | ) | | 35,715 |
| Patent | 1,672 |
| | — |
| | (380 | ) | | — |
| | (47 | ) | | 1,245 |
| Trade name (a) | 8,835 |
| | 7,900 |
| | (1,186 | ) | | — |
| | (176 | ) | | 15,373 |
| Indefinite-lived intangible assets | | | | | | | | | | | | Trademarks, trade names and brand names | 7,244 |
| | 11,000 |
| | — |
| | (1,444 | ) | | (421 | ) | | 16,379 |
| Total | $ | 206,744 |
| | $ | 344,599 |
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| (40,622 | ) |
| (5,171 | ) | | (7,505 | ) | | 498,045 |
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(a) The prior years amounts have been adjusted to reflect changes as a result of finalizing the purchase accounting. During the third quarter of 2013, the Company determined that the intangible asset recorded for the trade name associated with Wright Express Corporation should be reclassified from an indefinite-lived intangible asset to a definite-lived intangible asset due to the re-branding efforts of changing from the Wright Express brand to the WEX brand initiated domestically and abroad. The Company determined that a 10 year life would be appropriate in conjunction with the re-branding strategy initiated during the third quarter of 2013. The changes in intangible assets during the period January 1 to December 31, 2013, were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Net Carrying Amount, Beginning of Period | | Acquisition (a) | | Transfer from indefinite-lived intangible assets to definite-lived intangible assets | | Amortization | | Impacts of Foreign Currency Translation | | Net Carrying Amount, End of Period | | | | | | | | | | | | | Definite-lived intangible assets | | | | | | | | | | | | Acquired software and developed technology (a) | $ | 71,343 |
| | $ | 826 |
| | $ | — |
| | $ | (8,417 | ) | | $ | (2,162 | ) | | $ | 61,590 |
| Customer relationships (a) | 150,290 |
| | 9,515 |
| | — |
| | (23,552 | ) | | (8,850 | ) | | 127,403 |
| Patent | 2,365 |
| | — |
| | — |
| | (465 | ) | | (228 | ) | | 1,672 |
| Trade name (a) | 7,407 |
| | — |
| | 2,421 |
| | (713 | ) | | (280 | ) | | 8,835 |
| Indefinite-lived intangible assets | | | | | | | | | | | | Trademarks, trade names and brand names | 10,545 |
| | — |
| | (2,421 | ) | | — |
| | (880 | ) | | 7,244 |
| Total | $ | 241,950 |
| | $ | 10,341 |
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| $ | — |
| | $ | (33,147 | ) | | $ | (12,400 | ) | | $ | 206,744 |
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(a) The prior years amounts have been adjusted to reflect changes as a result of finalizing the purchase accounting. |
| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
The following table presents the estimated amortization expense related to the definite-lived intangible assets listed above for each of the next five fiscal years: | | | | | Estimated Amortization Expense | 2015 | $ | 50,053 |
| 2016 | $ | 49,578 |
| 2017 | $ | 49,094 |
| 2018 | $ | 45,387 |
| 2019 | $ | 41,831 |
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| Other Intangible Assets |
Other intangible assets consist of the following: | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2014 | | December 31, 2013 | | | | | | | | | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Gross Carrying Amount (a) | | Accumulated Amortization | | Net Carrying Amount (a) | Definite-lived intangible assets | | | | | | | | | | | | Acquired software and developed technology | $ | 150,458 |
| | $ | (30,949 | ) | | $ | 119,509 |
| | $ | 83,844 |
| | $ | (22,254 | ) | | $ | 61,590 |
| Non-compete agreement | — |
| | — |
| | — |
| | 100 |
| | (100 | ) | | — |
| Customer relationships | 394,316 |
| | (84,492 | ) | | 309,824 |
| | 197,424 |
| | (70,021 | ) | | 127,403 |
| Licensing agreements | 36,100 |
| | (385 | ) | | 35,715 |
| | — |
| | — |
| | — |
| Patent | 2,697 |
| | (1,452 | ) | | 1,245 |
| | 2,935 |
| | (1,263 | ) | | 1,672 |
| Trade name | 17,786 |
| | (2,413 | ) | | 15,373 |
| | 10,112 |
| | (1,277 | ) | | 8,835 |
| | $ | 601,357 |
| | $ | (119,691 | ) | | 481,666 |
| | $ | 294,415 |
| | $ | (94,915 | ) | | 199,500 |
| Indefinite-lived intangible assets | | | | | | | | | | | | Trademarks, trade names and brand names | | | | | 16,379 |
| | | | | | 7,244 |
| Total | | | | | $ | 498,045 |
| | | | | | $ | 206,744 |
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(a) The prior years amounts have been adjusted to reflect changes as a result of finalizing the purchase accounting. |