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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net Loss $ (20,251) $ (1,862,284) $ (110,328)
Adjustments for non-cash items:      
Depreciation and amortization 264,145 266,819 261,372
Unrealized foreign exchange loss / (gain) 411 (44,157) 4,383
Deferred tax expense / (benefit) 19,692 (82,876) (96,993)
Interest expense , net (2,642) 24,394 74,282
Share based compensation 28,873 62,354 101,770
Other income, net (20,515) (45,489) (232,539)
Impairment expense on goodwill and intangible assets 1,254 1,887,223 324,145
Allowance for credit losses and other 21,186 35,541 15,102
Loss on disposal of subsidiaries and other assets, net 386 1,359 0
Non-cash lease expense 8,937 7,034 9,523
Movements in working capital:      
Accounts receivable, net (18,813) (34,224) (42,592)
Prepaid expenses, other current assets, and related party receivables 6,953 (13,085) 3,456
Accounts payable, other liabilities, and related party payables (32,974) 17,400 (25,733)
Income tax (receivable) / payable (22,620) 17,192 (24,386)
Net cash flows provided by operating activities 234,022 237,201 261,462
Cash flows from investing activities      
Purchase of property, plant & equipment (12,849) (4,543) (5,616)
Purchase of merchant portfolios (30,735) (56,438) (63,906)
Other intangible asset expenditures (89,319) (89,065) (78,227)
Acquisition of businesses, net of cash acquired 0 (424,722) (263,520)
Net cash outflow on disposal of subsidiaries 0 (826) 0
Receipts under derivative financial instruments 10,208 0 0
Cash inflow from merchant reserves 12,200 0 0
Cash outflow for merchant reserves (24,400) 0 0
Other investing activities, net (342) 0 0
Net cash flows used in investing activities (135,237) (575,594) (411,269)
Cash flows from financing activities      
Cash settled equity awards (484) (990) 0
Repurchases of shares withheld for taxes (8,467) (6,937) 0
Proceeds from exercise of warrants 5 3 0
Net cash inflow from reorganization and recapitalization 0 0 1,167,874
Payment of equity issuance costs 0 0 (151,722)
Settlement funds - merchants and customers, net (588,151) 686,877 (36,994)
Repurchases of borrowings (167,424) (45,511) 0
Proceeds from loans and borrowings 125,597 120,669 2,962,112
Repayment of loans and borrowings (121,724) (148,919) (3,433,206)
Cash outflow on foreign exchange forward contract 0 0 (6,504)
Payment of debt issuance costs 0 (6,781) (7,077)
Proceeds under line of credit 900,000 796,600 600,000
Repayments under line of credit (900,000) (771,600) (600,000)
Receipts / (payments) under derivative financial instruments 0 137 (48,457)
Contingent consideration received 300 2,621 7,942
Contingent and deferred consideration paid (10,680) (19,834) (7,681)
Net cash provided by financing activities (771,028) (606,335) 446,287
Effect of foreign exchange rate changes 43,317 (112,465) (88,614)
(Decrease) / increase in cash and cash equivalents, including customer accounts and other restricted cash, net during the year (628,926) 155,477 207,866
Cash and cash equivalents, including customer accounts and other restricted cash, net at beginning of the year 2,127,195 1,971,718 1,763,852
Cash and cash equivalents, including customer accounts and other restricted cash, net at end of the year 1,498,269 2,127,195 1,971,718
Supplemental cash flow disclosures:      
Cash paid for interest 153,790 102,230 91,545
Cash paid/(received) for Income taxes, net 43,768 (13,182) 36,269
Cash and cash equivalents 202,322 260,219 313,439
Customer accounts and other restricted cash, net 1,295,947 1,866,976 1,658,279
Total cash and cash equivalents, including customer accounts and other restricted cash, net $ 1,498,269 $ 2,127,195 $ 1,971,718