Consolidated Financial Statement Details

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidated Financial Statement Details


5. Consolidated Financial Statement Details

Restricted cash


(dollars in thousands)	September 30, 2023		December 31, 2022
Restricted cash due to customers	$	358,280	$	700,611

Real estate escrow balances and other	1,316		1,629
Total restricted cash	$	359,596	$	702,240

Prepaid expenses and other assets


(dollars in thousands)	September 30, 2023		December 31, 2022
Costs of obtaining contracts(1)(2)	$	64,182	$	74,272
Derivative instruments	30,792		32,117
Prepaid software maintenance and subscriptions(3)	29,927		34,766
Implementation costs for cloud computing arrangements, net(4)(5)	9,835		10,189
Prepaid insurance	6,140		4,902
Unbilled accounts receivable	5,701		5,775
Taxes, prepaid and receivable	4,102		1,855
Deferred tax assets	1,123		1,153
Other assets	14,259		10,929
Total prepaid expenses and other assets	166,061		175,958
Less: Long-term portion	83,654		94,304
Prepaid expenses and other current assets	$	82,407	$	81,654

(1)Amortization expense from costs of obtaining contracts was $7.9 million and $24.3 million for the three and nine months ended September 30, 2023, respectively, and $8.4 million and $25.4 million for the three and nine months ended September 30, 2022, respectively.

(2)The current portion of costs of obtaining contracts as of September 30, 2023 and December 31, 2022 was $26.0 million and $29.1 million, respectively.

(3)The current portion of prepaid software maintenance and subscriptions as of September 30, 2023 and December 31, 2022 was $27.2 million and $31.7 million, respectively.

(4)These costs primarily relate to the multi-year implementations of our new global enterprise resource planning and customer relationship management systems.

(5)Amortization expense from capitalized cloud computing implementation costs was insignificant for the three months ended September 30, 2023 and 2022, respectively, and $1.8 million and $1.6 million for the nine months ended September 30, 2023 and 2022, respectively. Accumulated amortization for these costs was $7.0 million and $5.2 million as of September 30, 2023 and December 31, 2022, respectively.

Accrued expenses and other liabilities


(dollars in thousands)	September 30, 2023		December 31, 2022
Accrued legal costs(1)	$	53,236	$	28,448
Taxes payable	13,538		16,667
Customer credit balances	9,293		8,257
Operating lease liabilities, current portion	6,790		7,723
Accrued health care costs	3,023		2,467
Accrued commissions and salaries	2,461		6,944

Accrued vacation costs	1,971		2,156
Contingent consideration liability	1,379		2,710
Accrued transaction-based costs related to payments services	1,013		5,059


Other liabilities	11,651		9,865
Total accrued expenses and other liabilities	104,355		90,296
Less: Long-term portion	2,976		4,294
Accrued expenses and other current liabilities	$	101,379	$	86,002

(1)All accrued legal costs are classified as current. See Note 8 to these unaudited, condensed consolidated financial statements for additional information about our loss contingency accruals and other legal expenses.

Other income, net


	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands)	2023		2022		2023		2022
Interest income	$	3,012	$	671	$	6,556	$	908
Currency revaluation gains	1,674		2,991		894		5,843
Other income, net	976		792		2,997		1,957
Other income, net	$	5,662	$	4,454	$	10,447	$	8,708