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Subsequent Events | 9 Months Ended
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Sep. 30, 2021
Subsequent Events [Abstract] |
Subsequent Events |
19. | Subsequent Events
As more fully described in Note 4, Acquisitions, during April 2021 WEX Inc. acquired the contractual rights to serve as custodian to certain HSAs from the Healthcare Bank division of Bell Bank. WEX Inc. has contracted with federally insured bank and credit union depository partners to hold custodial cash assets on behalf of its members. On October 14, 2021, WEX Inc. transferred $960.0 million of custodial cash assets previously held by a third-party depository partner, to WEX Bank to be managed and invested. Wellington Management Company LLP, an entity affiliated with Wellington Management Group, LLP, a beneficial owner of approximately 9 percent of the Company’s outstanding common stock based on information reported on a Schedule 13F-HR filed with the SEC on August 16, 2021, has been appointed investment manager for the funds. The Company is currently evaluating the impact that this transfer of assets will have on its financial position and results of operations.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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