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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Total revenues $ 1,559,869 $ 1,723,691 $ 1,492,639
Cost of services      
Processing costs 419,041 400,439 309,450
Service fees 47,289 57,027 53,655
Provision for credit losses 78,443 65,664 66,482
Operating interest 23,810 41,915 38,407
Depreciation and amortization 104,592 94,725 79,935
Total cost of services 673,175 659,770 547,929
General and administrative 292,109 275,807 209,319
Sales and marketing 266,684 259,869 229,234
Depreciation and amortization 157,334 142,404 119,870
Legal settlement 162,500 0 0
Impairment charges 53,378 0 5,649
Loss on sale of subsidiary 46,362 0 0
Operating (loss) income (91,673) 385,841 380,638
Financing interest expense (157,080) (134,677) (105,023)
Net foreign currency loss (25,783) (926) (38,800)
Non-cash adjustments related to tax receivable agreement 491 932 (775)
Net unrealized (loss) gain on financial instruments (27,036) (34,654) 2,579
(Loss) income before income taxes (301,081) 216,516 238,619
Income tax (benefit) provision (20,597) 61,223 68,843
Net (loss) income (280,484) 155,293 169,776
Less: Net income (loss) from non-controlling interests 3,466 (1,030) 1,481
Net (loss) income attributable to WEX Inc. (283,950) 156,323 168,295
Change in value of redeemable non-controlling interest 40,312 (57,317) 0
Net (loss) income attributable to shareholders $ (243,638) $ 99,006 $ 168,295
Net loss attributable to shareholders per share:      
Basic (in dollars per share) $ (5.56) $ 2.29 $ 3.90
Diluted (in dollars per share) $ (5.56) $ 2.26 $ 3.86
Weighted average common shares outstanding:      
Basic (in shares) 43,842 43,316 43,156
Diluted (in shares) 43,842 43,769 43,574
Payment processing revenue      
Revenues      
Total revenues $ 698,891 $ 825,592 $ 723,991
Account servicing revenue      
Revenues      
Total revenues 449,456 413,552 308,096
Finance fee revenue      
Revenues      
Total revenues 198,523 247,318 208,627
Other revenue      
Revenues      
Total revenues $ 212,999 $ 237,229 $ 251,925