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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 186,264 $ 150,365
Short-term investments 0 71
Total cash, cash equivalents and short-term investments 186,264 150,436
Settlement and merchant reserve assets 274,699 238,653
Trade accounts receivable:    
Billed, net of allowance of $5,432 and $5,528 267,680 274,189
Unbilled 82,163 52,830
Income taxes receivable 1,345 1,270
Other current assets 50,075 48,577
Total current assets 862,226 765,955
Non-current assets:    
Property and equipment, net of depreciation of $121,816 and $105,466 65,545 71,787
Operating lease right-of-use assets 34,283 49,687
Goodwill 308,596 304,036
Customer contract costs, net of amortization of $42,094 and $30,601 54,421 54,735
Deferred income taxes 57,855 26,206
Other assets 10,017 7,956
Total non-current assets 580,820 582,598
Total assets 1,443,046 1,348,553
Current liabilities:    
Current portion of long-term debt 7,500 37,500
Operating lease liabilities 15,946 21,012
Customer deposits 41,035 40,472
Trade accounts payable 46,406 47,720
Accrued employee compensation 84,380 68,321
Settlement and merchant reserve liabilities 273,817 237,810
Deferred revenue 54,199 46,033
Income taxes payable 4,104 5,455
Other current liabilities 33,449 22,886
Total current liabilities 560,836 527,209
Non-current liabilities:    
Long-term debt, net of unamortized discounts of $15,628 and $2,656 534,997 375,469
Operating lease liabilities 34,360 53,207
Deferred revenue 23,447 21,991
Income taxes payable 3,041 3,410
Deferred income taxes 123 117
Other non-current liabilities 12,916 11,901
Total non-current liabilities 608,884 466,095
Total liabilities 1,169,720 993,304
Stockholders' equity:    
Preferred stock, par value $.01 per share; 10,000 shares authorized; zero shares issued and outstanding 0 0
Common stock, par value $.01 per share; 100,000 shares authorized; 6,781 and 5,091 shares reserved for employee stock purchase plan and stock incentive plans; 29,541 and 31,269 shares outstanding 713 708
Additional paid-in capital 490,947 495,189
Treasury stock, at cost; 40,398 and 38,210 shares (1,136,055) (1,018,034)
Accumulated other comprehensive income (loss):    
Unrealized gain on short-term investments, net of tax 1 1
Cumulative foreign currency translation adjustments (50,414) (58,830)
Accumulated earnings 968,134 936,215
Total stockholders' equity 273,326 355,249
Total liabilities and stockholders' equity 1,443,046 1,348,553
Software    
Non-current assets:    
Intangible assets 14,224 22,774
Acquired customer contracts    
Non-current assets:    
Intangible assets [1] $ 35,879 $ 45,417
[1] Acquired customer contracts represent assets acquired in our prior business acquisitions. Acquired customer contracts are amortized over their estimated useful lives ranging from three to twenty years based on the approximate pattern in which the economic benefits of the intangible assets are expected to be realized, with the amortization expense included as cost of revenue in our Income Statements.