Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2015

The following table presents the Company’s transactions with related parties for each of the periods presented below:


	Years ended December 31,
(Dollar amounts in thousands)	2015		2014		2013
			(As Restated)
Total revenues ⁽¹⁾⁽²⁾	$	169,433	$	164,336	$	167,440

Cost of revenues	$	1,701	$	1,946	$	8,429

Rent and other fees ⁽³⁾⁽⁴⁾	$	7,880	$	7,928	$	27,762

Interest earned from and charged by affiliate
Interest income	$	206	$	197	$	130

Interest expense ⁽⁵⁾	$	—	$	—	$	2,471

⁽¹⁾	Total revenues from Popular as a percentage of revenues were 45%, 45% and 46% for each of the periods presented above.

⁽²⁾	Includes revenues generated from investee accounted for under the equity method of $2.1 million, $2.5 million and $3.0 million for the years ended December 31, 2015, 2014 and 2013, respectively.

⁽³⁾

Includes management fees to equity sponsors amounting to $3.5 million for the year ended December 31, 2013. Management fees paid during 2013 also includes $16.7 million resulting from the termination of the consulting agreements as explained below. Rent and other fees also include $5.9 million paid in connection with the redemption premium on the senior notes during the first half of 2013.

⁽⁴⁾

Includes $7.9 million, $7.9 million and $11.1 million recorded as selling, general and administrative expenses for each of the periods presented above, and $16.7 million recorded as non-operating expenses for the year ended December 31, 2013 in the audited consolidated statement of income (loss) and comprehensive income (loss).

⁽⁵⁾

Interest expense relates to interest accrued on the senior secured term loan and senior notes held by Popular. As a result of the debt refinancing and the redemption of the senior notes in April 2013, Popular’s participation in such debt was extinguished. See Note 12 for additional information related to the extinguishment of this debt.

Summary of Balances of Transactions with Related Parties

At December 31, 2015 and 2014, the Company had the following balances arising from transactions with related parties:


	December 31,
(Dollar amounts in thousands)	2015		2014
			(As restated)
Cash and restricted cash deposits in affiliated bank	$	23,872	$	13,566

Indemnification assets from Popular reimbursement ⁽¹⁾
Accounts receivable	$	—	$	1,428

Other due/to from affiliate
Accounts receivable	$	20,196	$	17,006

Prepaid expenses and other assets	$	867	$	398

Accounts payable ⁽²⁾	$	2,687	$	5,260

Unearned income	$	11,970	$	9,385

Other long-term liabilites ⁽²⁾	$	14	$	45

⁽¹⁾	Recorded in connection with reimbursement from Popular regarding certain software license fees.

⁽²⁾

Includes an account payable of $32,000 and $0.2 million and a long-term liability of $14,000 and $45,000 for December 31, 2015 and 2014, respectively, related to the unvested portion of stock options as a result of the equitable adjustment approved by the Company’s Board of Directors on December 18, 2012 that will be payable to executive officers and employees upon vesting of stock options.