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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 190,050 $ 249,245
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 172,229 82,760
Amortization of acquired intangibles 628,264 210,993
Amortization of capitalized contract costs 38,070 31,965
Share-based compensation expense 62,805 27,914
Provision for operating losses and bad debts 66,921 18,637
Noncash lease expense 47,770 17,989
Deferred income taxes (96,458) (6,483)
Other, net (14,218) 4,480
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable 56,186 (49,774)
Settlement processing assets and obligations, net 136,453 (41,715)
Prepaid expenses and other assets (97,653) (148,435)
Accounts payable and other liabilities (230,130) (150,223)
Net cash provided by operating activities 960,289 247,353
Cash flows from investing activities:    
Acquisitions, net of cash acquired (74,095) (78,245)
Capital expenditures (208,384) (133,312)
Other, net 12,188 13,182
Net cash used in investing activities (270,291) (198,375)
Cash flows from financing activities:    
Net (repayments of) borrowings from settlement lines of credit (25,546) 32,163
Proceeds from long-term debt 1,867,008 586,000
Repayments of long-term debt (1,809,199) (569,119)
Payments of debt issuance costs (8,006) 0
Repurchases of common stock (421,162) (233,996)
Proceeds from stock issued under share-based compensation plans 42,632 12,952
Common stock repurchased - share-based compensation plans (39,226) (11,167)
Distributions to noncontrolling interests 0 (26,239)
Dividends paid (116,591) (3,137)
Net cash used in financing activities (510,090) (212,543)
Effect of exchange rate changes on cash (32,556) 414
Increase (decrease) in cash and cash equivalents 147,352 (163,151)
Cash and cash equivalents, beginning of the period 1,678,273 1,210,878
Cash and cash equivalents, end of the period $ 1,825,625 $ 1,047,727