XML 72 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
May 31, 2014
May 31, 2013
May 31, 2012
Cash flows from operating activities:      
Net income $ 269,952 $ 238,713 $ 217,566
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization of property and equipment 60,124 55,023 48,403
Amortization of acquired intangibles 61,945 56,765 50,696
Share-based compensation expense 29,793 18,427 16,391
Provision for operating losses and bad debts 20,574 21,659 22,417
Deferred income taxes (1,799) 33,112 (19,498)
Other, net (1,484) (4,878) (2,775)
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable (18,539) (5,458) (16,422)
Claims receivable (11,569) (11,858) (13,519)
Settlement processing assets and obligations, net (241,431) (104,007) (568,335)
Inventory 4,793 (1,187) (2,394)
Prepaid expenses and other assets 18,995 (22,978) 3,511
Accounts payable and other accrued liabilities 9,224 (39,374) 85,875
Income taxes payable (6,480) 6,587 4,609
Net cash provided by (used in) operating activities 194,098 240,546 (173,475)
Cash flows from investing activities:      
Business, intangible and other asset acquisitions, net of cash acquired (426,524) (434,016) (44,274)
Capital expenditures (81,411) (98,590) (109,876)
Principal collections on financing receivables 2,658 2,812 2,565
Proceeds from Divestiture of Interest in Subsidiaries and Affiliates 3,607 1,227 1,152
Net cash used in investing activities (501,670) (528,567) (150,433)
Cash flows from financing activities:      
Net borrowings (payments) on short-term lines of credit 252,667 (27,930) (55,354)
Proceeds from issuance of long-term debt 2,690,000 1,135,327 146,374
Principal payments under long-term debt (2,260,597) (482,349) (184,235)
Acquisition of redeemable noncontrolling interest 0 (242,000) 0
Payment of debt issuance costs (5,961) (3,987) 0
Repurchase of common stock (447,307) (175,297) (99,604)
Proceeds from stock issued under share-based compensation plans 31,727 10,543 11,446
Common stock repurchased - share-based compensation plans (5,681) (10,244) (4,861)
Tax benefit from share-based compensation plans 6,475 1,863 1,441
Distributions to noncontrolling interests (36,670) (16,206) (27,082)
Dividends paid (5,757) (6,198) (6,311)
Net cash provided by (used in) financing activities 218,896 183,522 (218,186)
Effect of exchange rate changes on cash (9,922) 3,694 (30,916)
Decrease in cash and cash equivalents (98,598) (100,805) (573,010)
Cash and cash equivalents, beginning of the period 680,470 781,275 1,354,285
Cash and cash equivalents, end of the period $ 581,872 $ 680,470 $ 781,275