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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Payment processing revenue $ 314,149 $ 236,824 $ 580,461 $ 476,539
Account servicing revenue 106,892 78,716 193,978 157,420
Finance fee revenue 62,912 51,553 109,285 100,434
Other revenue 57,177 61,791 118,796 119,780
Total revenues 441,807 370,798 823,683 724,826
Cost of services        
Service fees 14,197 13,809 28,443 26,029
Provision for credit losses 14,832 13,636 32,623 27,862
Operating interest 10,693 9,528 20,257 18,013
Depreciation and amortization 21,570 20,612 42,083 41,045
Total cost of services 160,773 135,068 314,006 263,520
General and administrative 76,247 47,589 140,652 103,022
Sales and marketing 72,831 57,697 136,950 114,238
Depreciation and amortization 37,219 30,020 68,403 59,763
Operating income 94,737 100,424 163,672 184,283
Financing interest expense (35,638) (25,505) (66,750) (52,842)
Net foreign currency gain (loss) 6,665 (26,734) 2,780 (26,344)
Net unrealized (loss) gain on financial instruments (21,516) 2,706 (33,428) 16,214
Income before income taxes 44,248 50,891 66,274 121,311
Income taxes 12,397 12,325 18,215 30,074
Net income 31,851 38,566 48,059 91,237
Less: Net income from non-controlling interests 324 142 398 843
Net income attributable to WEX Inc. 31,527 38,424 47,661 90,394
Accretion of non-controlling interest (17,720) 0 (17,720) 0
Net income attributable to shareholders $ 13,807 $ 38,424 $ 29,941 $ 90,394
Net income attributable to shareholders per share:        
Basic (in dollars per share) $ 0.32 $ 0.89 $ 0.69 $ 2.10
Diluted (in dollars per share) $ 0.32 $ 0.88 $ 0.69 $ 2.08
Weighted average common shares outstanding:        
Basic (in shares) 43,329 43,181 43,277 43,116
Diluted (in shares) 43,761 43,546 43,667 43,524
Payment processing revenue        
Revenues        
Payment processing revenue $ 214,826 $ 178,738 $ 401,624 $ 347,192
Cost of services        
Processing costs $ 99,481 $ 77,483 $ 190,600 $ 150,571