v3.24.0.1
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 income $ 1,028,823 $ 143,313 $ 987,864
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property and equipment 458,157 399,486 396,342
Amortization of acquired intangibles 1,318,535 1,262,969 1,295,042
Amortization of capitalized contract costs 123,405 109,701 93,328
Share-based compensation expense 208,994 163,261 180,779
Provision for operating losses and credit losses 97,103 116,879 90,208
Noncash lease expense 65,307 78,935 107,775
Deferred income taxes (499,974) (315,495) (189,050)
Equity in income of equity method investments, net of tax (67,896) (85,685) (112,353)
Facilities exit charges 5,994 30,437 51,349
Distributions received on investments 18,267 45,521 36,914
Impairment of goodwill 0 833,075 0
Net loss on business dispositions 136,744 199,094 0
Other, net 18,545 993 10,810
Changes in operating assets and liabilities, net of the effects of business combinations:      
Accounts receivable (78,647) (111,974) (165,543)
Settlement processing assets and obligations, net (345,898) (313,333) 128,584
Prepaid expenses and other assets (289,826) (295,980) (264,009)
Accounts payable and other liabilities 51,108 (17,157) 132,785
Net cash provided by operating activities 2,248,741 2,244,040 2,780,825
Cash flows from investing activities:      
Business combinations and other acquisitions, net of cash and restricted cash acquired (4,225,610) (65,672) (1,811,432)
Capital expenditures (658,142) (615,652) (493,216)
Issuance of notes receivable (50,000) 0 0
Repayment of notes receivable 50,000 0 0
Net cash from sales of businesses 479,067 (29,755) 0
Proceeds from sale of investments 42,135 33,046 0
Other, net 1,438 2,496 10,822
Net cash used in investing activities (4,361,112) (675,537) (2,293,826)
Cash flows from financing activities:      
Net borrowings from settlement lines of credit 220,682 285,644 149,528
Net borrowings from commercial paper notes 1,367,859 0 0
Proceeds from long-term debt 10,336,850 9,812,289 7,057,668
Repayments of long-term debt (9,099,938) (7,895,131) (4,826,769)
Payments of debt issuance costs (12,735) (48,635) (21,320)
Repurchases of common stock (418,272) (2,921,307) (2,533,629)
Proceeds from stock issued under share-based compensation plans 60,345 44,127 49,545
Common stock repurchased - share-based compensation plans (41,225) (38,601) (90,649)
Distributions to noncontrolling interests (32,997) (23,031) 0
Proceeds and contributions from noncontrolling interests 26,205 0 69,987
Payment of contingent consideration in business combination (5,222) (15,726) 0
Purchase of capped calls related to issuance of convertible notes 0 (302,375) 0
Dividends paid (260,431) (273,955) (259,726)
Net cash provided by (used in) financing activities 2,141,121 (1,376,701) (405,365)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 12,519 (99,219) (48,382)
Increase in cash, cash equivalents and restricted cash 41,269 92,583 33,252
Cash, cash equivalents and restricted cash, beginning of the period 2,215,606 2,123,023 2,089,771
Cash, cash equivalents and restricted cash, end of the period $ 2,256,875 $ 2,215,606 $ 2,123,023

Source

PDF HTML
XBRL
ZIP