v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities      
Net income $ 200,018us-gaap_ProfitLoss $ 148,298us-gaap_ProfitLoss $ 96,709us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Net unrealized (gain) loss on derivative instruments (48,327)us-gaap_UnrealizedGainLossOnDerivatives 5,628us-gaap_UnrealizedGainLossOnDerivatives 1,724us-gaap_UnrealizedGainLossOnDerivatives
Stock-based compensation 13,790us-gaap_ShareBasedCompensation 9,429us-gaap_ShareBasedCompensation 11,016us-gaap_ShareBasedCompensation
Depreciation, amortization and asset impairments 73,022us-gaap_DepreciationDepletionAndAmortization 60,563us-gaap_DepreciationDepletionAndAmortization 50,267us-gaap_DepreciationDepletionAndAmortization
Goodwill impairment 0us-gaap_GoodwillImpairmentLoss 0us-gaap_GoodwillImpairmentLoss 17,508us-gaap_GoodwillImpairmentLoss
Gain on sale of subsidiary (27,490)us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary
Deferred taxes 46,111us-gaap_DeferredIncomeTaxExpenseBenefit 26,956us-gaap_DeferredIncomeTaxExpenseBenefit 35,907us-gaap_DeferredIncomeTaxExpenseBenefit
Provision for credit losses 32,144us-gaap_ProvisionForOtherCreditLosses 20,200us-gaap_ProvisionForOtherCreditLosses 22,539us-gaap_ProvisionForOtherCreditLosses
Loss on disposal of property, equipment and capitalized software 1,182us-gaap_GainLossOnDispositionOfIntangibleAssets 1,122us-gaap_GainLossOnDispositionOfIntangibleAssets 9,503us-gaap_GainLossOnDispositionOfIntangibleAssets
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable 55,883us-gaap_IncreaseDecreaseInAccountsReceivable (194,418)us-gaap_IncreaseDecreaseInAccountsReceivable (86,763)us-gaap_IncreaseDecreaseInAccountsReceivable
Other assets (16,921)us-gaap_IncreaseDecreaseInOtherOperatingAssets (55,440)us-gaap_IncreaseDecreaseInOtherOperatingAssets (43,665)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable (29,154)us-gaap_IncreaseDecreaseInAccountsPayable (6,365)us-gaap_IncreaseDecreaseInAccountsPayable (41,040)us-gaap_IncreaseDecreaseInAccountsPayable
Accrued expenses 29,263us-gaap_IncreaseDecreaseInAccruedLiabilities 25,500us-gaap_IncreaseDecreaseInAccruedLiabilities (1,582)us-gaap_IncreaseDecreaseInAccruedLiabilities
Income taxes (21,770)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 7,586us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable 17,360us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Other liabilities (3,190)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (743)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (11,459)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Amounts due under tax receivable agreement (8,148)wex_IncreaseDecreaseInAmountsDueUnderTaxReceivableAgreement (8,765)wex_IncreaseDecreaseInAmountsDueUnderTaxReceivableAgreement (6,213)wex_IncreaseDecreaseInAmountsDueUnderTaxReceivableAgreement
Net cash provided by operating activities 296,413us-gaap_NetCashProvidedByUsedInOperatingActivities 39,551us-gaap_NetCashProvidedByUsedInOperatingActivities 71,811us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities      
Purchases of property, equipment and capitalized software (58,133)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (39,455)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (28,036)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Purchases of available-for-sale securities (2,837)us-gaap_PaymentsToAcquireMarketableSecurities (1,802)us-gaap_PaymentsToAcquireMarketableSecurities (864)us-gaap_PaymentsToAcquireMarketableSecurities
Maturities of available-for-sale securities 337us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 1,192us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 1,551us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Acquisitions and investment, net of cash (891,725)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (11,277)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired (402,475)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Proceeds from sale of subsidiary 48,324us-gaap_ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates 0us-gaap_ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates 0us-gaap_ProceedsFromDivestitureOfInterestInSubsidiariesAndAffiliates
Net cash used for investing activities (904,034)us-gaap_NetCashProvidedByUsedInInvestingActivities (51,342)us-gaap_NetCashProvidedByUsedInInvestingActivities (429,824)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities      
Excess tax benefits from equity instrument share-based payment arrangements 1,867us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 6,539us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 4,466us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Repurchase of share-based awards to satisfy tax withholdings (5,709)wex_RepurchaseOfShareBasedAwardsToSatisfyTaxWithholdings (11,222)wex_RepurchaseOfShareBasedAwardsToSatisfyTaxWithholdings (2,926)wex_RepurchaseOfShareBasedAwardsToSatisfyTaxWithholdings
Proceeds from stock option exercises 239us-gaap_ProceedsFromStockOptionsExercised 1,679us-gaap_ProceedsFromStockOptionsExercised 4,625us-gaap_ProceedsFromStockOptionsExercised
Net change in deposits (109,138)us-gaap_IncreaseDecreaseInDeposits 198,596us-gaap_IncreaseDecreaseInDeposits 193,726us-gaap_IncreaseDecreaseInDeposits
Net (decrease) increase in borrowed federal funds 0us-gaap_IncreaseDecreaseInFederalFundsPurchased (48,400)us-gaap_IncreaseDecreaseInFederalFundsPurchased 41,500us-gaap_IncreaseDecreaseInFederalFundsPurchased
Net borrowings on 2011 revolving line-of-credit facility 0wex_ProceedsfromRepaymentsofLongTermLinesofCredit 0wex_ProceedsfromRepaymentsofLongTermLinesofCredit 335,700wex_ProceedsfromRepaymentsofLongTermLinesofCredit
Borrowings on revolving line-of-credit facility 2,519,742us-gaap_ProceedsFromLongTermLinesOfCredit 419,200us-gaap_ProceedsFromLongTermLinesOfCredit 0us-gaap_ProceedsFromLongTermLinesOfCredit
Repayments on revolving line-of-credit facility (2,105,321)us-gaap_RepaymentsOfLongTermLinesOfCredit (857,700)us-gaap_RepaymentsOfLongTermLinesOfCredit 0us-gaap_RepaymentsOfLongTermLinesOfCredit
Loan origination fees (3,309)wex_LoanOriginationFeesPaidForRevolvingLineOfCreditFacility (12,023)wex_LoanOriginationFeesPaidForRevolvingLineOfCreditFacility 0wex_LoanOriginationFeesPaidForRevolvingLineOfCreditFacility
Borrowings on term loan 0us-gaap_ProceedsFromNotesPayable 400,000us-gaap_ProceedsFromNotesPayable 0us-gaap_ProceedsFromNotesPayable
Other debt 46,851us-gaap_ProceedsFromRepaymentsOfOtherDebt (2,016)us-gaap_ProceedsFromRepaymentsOfOtherDebt (17,753)us-gaap_ProceedsFromRepaymentsOfOtherDebt
Contingent consideration paid for rapid! PayCard 0wex_PaymentOfContingentConsiderationFinancing 0wex_PaymentOfContingentConsiderationFinancing (8,486)wex_PaymentOfContingentConsiderationFinancing
Purchase of shares of treasury stock (19,765)us-gaap_PaymentsForRepurchaseOfCommonStock (17,911)us-gaap_PaymentsForRepurchaseOfCommonStock (11,288)us-gaap_PaymentsForRepurchaseOfCommonStock
Net cash provided by financing activities 526,707us-gaap_NetCashProvidedByUsedInFinancingActivities 179,242us-gaap_NetCashProvidedByUsedInFinancingActivities 529,564us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rates on cash and cash equivalents 4,191us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (3,627)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 320us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net change in cash and cash equivalents (76,723)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 163,824us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 171,871us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 361,486us-gaap_CashAndCashEquivalentsAtCarryingValue 197,662us-gaap_CashAndCashEquivalentsAtCarryingValue 25,791us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 284,763us-gaap_CashAndCashEquivalentsAtCarryingValue 361,486us-gaap_CashAndCashEquivalentsAtCarryingValue 197,662us-gaap_CashAndCashEquivalentsAtCarryingValue
2011 Credit Agreement      
Cash flows from financing activities      
Repayments of term loan 0us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndElevenCreditAgreementMember
(182,500)us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndElevenCreditAgreementMember
(10,000)us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndElevenCreditAgreementMember
2013 Credit Agreement      
Cash flows from financing activities      
Repayments of term loan (7,500)us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndThirteenCreditAgreementMember
(15,000)us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndThirteenCreditAgreementMember
0us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndThirteenCreditAgreementMember
Borrowings on term loan 0us-gaap_ProceedsFromNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndThirteenCreditAgreementMember
300,000us-gaap_ProceedsFromNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndThirteenCreditAgreementMember
0us-gaap_ProceedsFromNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndThirteenCreditAgreementMember
2014 Credit Agreement      
Cash flows from financing activities      
Repayments of term loan (13,750)us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndFourteenCreditAgreementMember
0us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndFourteenCreditAgreementMember
0us-gaap_RepaymentsOfNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndFourteenCreditAgreementMember
Borrowings on term loan $ 222,500us-gaap_ProceedsFromNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndFourteenCreditAgreementMember
$ 0us-gaap_ProceedsFromNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndFourteenCreditAgreementMember
$ 0us-gaap_ProceedsFromNotesPayable
/ us-gaap_LineOfCreditFacilityAxis
= wex_TwoThousandAndFourteenCreditAgreementMember