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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net (loss) / income $ (182,507) $ 22,160 $ (20,251)
Adjustments for non-cash items:      
Depreciation and amortization 276,366 274,755 264,145
Unrealized foreign exchange (gain) / loss (7,266) (4,123) 411
Deferred tax expense / (benefit) 74,403 (33,187) 19,692
Interest expense , net 4,075 (10,122) (2,642)
Share based compensation 32,304 38,534 28,873
Other income, net (2,195) (10,159) (20,515)
Impairment expense on goodwill and other assets, net 1,423 823 1,254
Allowance for credit losses and other 48,251 52,649 21,186
Loss on disposal of subsidiaries and other assets, net 732 801 386
Non-cash lease expense 9,348 8,939 8,937
Movements in working capital:      
Accounts receivable, net (12,763) (43,241) (18,813)
Prepaid expenses and other current assets (5,398) (11,582) 6,953
Accounts payable and other liabilities (571) (26,651) (32,974)
Income tax payable / receivable (47) (5,792) (22,620)
Net cash flows provided by operating activities 236,155 253,804 234,022
Cash flows from investing activities      
Purchase of property, plant & equipment (12,579) (15,935) (12,849)
Purchase of merchant portfolios (21,211) (8,778) (30,735)
Other intangible asset expenditures (94,187) (95,783) (89,319)
Disposal of subsidiaries 1,948 0 0
Receipts under derivative financial instruments 4,469 8,919 10,208
Cash inflow from merchant reserves 17,377 6,510 12,200
Cash outflow for merchant reserves (36,390) 0 (24,400)
Other investing activities, net 163 (3,313) (342)
Net cash flows used in investing activities (140,410) (108,380) (135,237)
Cash flows from financing activities      
Cash settled equity awards 0 0 (484)
Repurchases of shares withheld for taxes (10,580) (7,554) (8,467)
Proceeds from exercise of warrants 0 0 5
Proceeds from employee share purchase plan 1,111 786 0
Purchase of treasury shares (90,831) (42,921) 0
Settlement funds - merchants and customers, net (160,813) (163,837) (588,151)
Repurchases of borrowings 0 (92,278) (167,424)
Proceeds from loans and borrowings 251,963 220,352 125,597
Repayment of loans and borrowings (156,214) (174,718) (121,724)
Payment of debt issuance costs 0 (491) 0
Proceeds under line of credit 847,000 855,000 900,000
Repayments under line of credit (838,000) (865,000) (900,000)
Other financing activities 300 0 300
Contingent and deferred consideration paid (7,319) (10,138) (10,680)
Net cash flows used in financing activities (163,383) (280,799) (771,028)
Effect of foreign exchange rate changes 114,347 (64,315) 43,317
Increase / (decrease) in cash and cash equivalents, including customer accounts and other restricted cash, during the year 46,709 (199,690) (628,926)
Cash and cash equivalents, including customer accounts and other restricted cash, net at beginning of the year 1,298,579 1,498,269 2,127,195
Cash and cash equivalents, including customer accounts and other restricted cash, net at end of the year 1,345,288 1,298,579 1,498,269
Supplemental cash flow disclosures:      
Cash paid for interest 132,339 150,927 153,790
Cash paid/(received) for Income taxes, net 36,090 30,843 43,768
Cash and cash equivalents 250,168 216,683 202,322
Customer accounts and other restricted cash 1,095,120 1,081,896 1,295,947
Total cash and cash equivalents, including customer accounts and other restricted cash, net $ 1,345,288 $ 1,298,579 $ 1,498,269