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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets    
Cash and cash equivalents [1] $ 861,188 $ 810,932
Restricted cash [1] 165,205 170,449
Accounts receivable (net of allowances of $75,426 in 2020 and $52,274 in 2019) 2,093,924 2,661,108
Securitized accounts receivable, restricted 97,395 112,192
Prepaid expenses and other current assets 93,980 87,694
Total current assets 3,311,692 3,842,375
Property, equipment and capitalized software (net of accumulated depreciation of $363,097 in 2020 and $344,212 in 2019) 207,928 212,475
Goodwill 2,418,288 2,441,201
Other intangible assets (net of accumulated amortization of $698,470 in 2020 and $666,793 in 2019) 1,528,606 1,575,050
Investment securities 30,902 30,460
Deferred income taxes, net 16,335 12,833
Other assets 184,404 184,024
Total assets 7,698,155 8,298,418
Liabilities and Stockholders’ Equity    
Accounts payable 745,884 969,816
Accrued expenses 242,651 315,642
Restricted cash payable 165,205 170,449
Short-term deposits 1,137,123 1,310,813
Short-term debt, net 147,219 248,531
Other current liabilities 47,637 34,692
Total current liabilities 2,485,719 3,049,943
Long-term debt, net 2,672,335 2,686,513
Long-term deposits 173,399 143,399
Deferred income taxes, net 212,450 218,740
Other liabilities 117,633 106,422
Total liabilities 5,661,536 6,205,017
Commitments and contingencies (Note 15)
Redeemable non-controlling interest 159,645 156,879
Stockholders’ Equity    
Common stock $0.01 par value; 175,000 shares authorized; 47,938 issued in 2020 and 47,749 in 2019; 43,510 shares outstanding in 2020 and 43,321 in 2019 479 477
Additional paid-in capital 680,726 675,060
Retained earnings 1,514,358 1,539,201
Accumulated other comprehensive loss (156,384) (115,449)
Treasury stock at cost; 4,428 shares in 2020 and 2019 (172,342) (172,342)
Total WEX Inc. stockholders’ equity 1,866,837 1,926,947
Non-controlling interest 10,137 9,575
Total stockholders’ equity 1,876,974 1,936,522
Total liabilities and stockholders’ equity $ 7,698,155 $ 8,298,418
[1] The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within our condensed consolidated balance sheets to amounts within our condensed consolidated statements of cash flows.

 
Three Months Ended March 31,
 
2020
 
2019
Cash and cash equivalents at beginning of period
$
810,932

 
$
541,498

Restricted cash at beginning of period
170,449

 
13,533

Cash, cash equivalents and restricted cash at beginning of period
$
981,381

 
$
555,031

 
 
 
 
Cash and cash equivalents at end of period
$
861,188

 
$
387,274

Restricted cash at end of period
165,205

 
138,804

Cash, cash equivalents and restricted cash at end of period
$
1,026,393

 
$
526,078