XML 23 R6.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:      
Net income $ 592,216 $ 325,972 $ 369,041
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 405,906 373,546 258,264
Provisions for cardholder losses 51,194 49,363 41,264
Share-based compensation 42,409 43,728 41,549
Provisions for bad debt expenses and billing adjustments 10,169 7,584 4,495
Charges for transaction processing provisions 11,716 5,351 6,976
Amortization of debt issuance costs 4,307 13,570 1,841
Dividends received from equity investments 20,589 15,246 12,097
Loss (gain) on foreign currency 907 (1,748) 388
Amortization of bond discount 907 750 397
Loss on disposal of equipment, net 2,307 774 (397)
Loss on impairment 1,298    
Excess tax benefit from share-based payment arrangements   (9,905) (24,357)
Deferred income tax (benefit) expense (172,488) 7,435 (4,083)
Gain on disposal of subsidiaries     (3,568)
Equity in income of equity investments, net of tax (40,532) (26,115) (25,430)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accrued salaries and employee benefits 13,538 (2,597) 29,168
Accounts receivable (29,729) (73,235) (39,218)
Prepaid expenses, other current assets and other long-term assets 3,089 (58,345) (7,372)
Accounts payable 17,653 (12,562) (3,987)
Other current liabilities and other long-term liabilities (78,964) 59,217 (55,034)
Net cash provided by operating activities 856,492 718,029 602,034
Cash flows from investing activities:      
Purchases of property and equipment (70,039) (51,132) (54,640)
Additions to contract acquisition costs (69,806) (45,847) (58,728)
Additions to internally developed computer software (30,265) (34,043) (39,219)
Additions to licensed computer software from vendors (25,916) (11,551) (50,729)
Cash used in acquisitions, net of cash acquired   (2,345,493) (750)
Other investing activities (2,718) (4,930) 42
Net cash used in investing activities (198,744) (2,492,996) (204,024)
Cash flows from financing activities:      
Principal payments on long-term borrowings and capital lease obligations (421,306) (724,084) (54,719)
Purchase of noncontrolling interest (70,000) (5,878)  
Dividends paid on common stock (79,017) (73,378) (73,677)
Subsidiary dividends paid to noncontrolling shareholders (5,997) (5,548) (5,028)
Repurchase of common stock under plans and tax withholding (284,237) (30,275) (242,235)
Debt issuance costs   (26,555)  
Excess tax benefit from share-based payment arrangements   9,905 24,357
Proceeds from borrowings of long-term debt 200,000 2,666,295 1,912
Proceeds from exercise of stock options 21,832 11,708 58,636
Net cash (used in) provided by financing activities (638,725) 1,822,190 (290,754)
Cash and cash equivalents:      
Effect of exchange rate changes on cash and cash equivalents 5,980 (11,197) (7,111)
Net increase in cash and cash equivalents 25,003 36,026 100,145
Cash and cash equivalents at beginning of period 425,354 389,328 289,183
Cash and cash equivalents at end of period 450,357 425,354 389,328
Supplemental cash flow information:      
Interest paid 112,705 84,420 40,425
Income taxes paid, net $ 269,113 $ 87,428 $ 171,455