Total System Services, Inc. TSS Cash Flow

Total system services, inc. (TSS)

CashFlow / Quarterly

Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
162,760	161,607	136,420	155,960	142,435	143,102	243,871	124,726	116,512	107,107	74,375	87,441	71,748	92,408	84,716	122,051	83,375	78,899	81,243	85,198	111,340	51,625	69,392	67,495	60,561	59,149	62,257	62,044	67,978	57,644	60,914	57,689	54,647	49,412	51,618	49,706	52,478	51,819
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
104,773	103,710	98,563	101,331	104,290	104,389	102,085	100,284	99,359	104,178	102,078	98,916	104,969	67,583	67,045	64,499	63,905	62,815	63,191	62,434	60,961	61,432	62,861	59,447	40,545	42,498	43,281	43,243	43,213	40,873	43,762	42,368	41,967	41,068	44,004	40,141	40,402	38,564
Amortization of operating lease right of use assets
12,901	12,654	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provisions for cardholder losses
12,271	13,269	14,197	16,478	18,888	15,545	12,158	11,449	15,039	12,548	12,074	12,073	13,107	12,109	11,643	9,411	11,526	8,684	8,458	8,388	11,896	9,639	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation
11,500	10,714	15,842	12,392	14,229	6,295	13,947	8,407	11,008	9,047	9,936	13,068	12,566	8,158	10,081	11,295	12,030	8,143	7,771	5,420	9,988	7,611	9,346	9,783	5,211	4,593	6,273	3,722	5,028	3,598	3,784	4,049	4,312	4,332	4,105	3,771	5,043	2,913
Provisions for bad debt expenses and billing adjustments
2,639	2,948	2,862	2,281	2,331	2,839	2,334	2,929	2,985	1,921	2,767	1,879	1,497	1,441	8,014	-1,033	-1,061	-1,425	-841	-675	-558	-749	193	-652	-1,165	-376	-241	-457	-500	144	-1,880	-545	1,077	-204	636	-204	1,024	-658
Charges for transaction processing provisions
1,312	7	2,469	1,517	2,448	729	5,997	1,666	2,136	1,917	1,996	1,164	1,082	1,109	3,505	250	1,633	1,588	4,387	2,115	1,140	1,826	-1,087	1,452	2,933	4,160	1,455	377	-92	1,063	1,066	1,052	1,336	1,296	1,031	751	1,260	849
Amortization of debt issuance costs
1,330	1,322	1,314	1,306	1,327	1,035	1,060	1,084	1,084	1,079	1,071	1,048	1,065	10,386	463	461	459	458	456	455	454	452	494	460	3,455	2,860	118	86	47	47	45	38	51	26	39	38	39	38
Dividends received from equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	6,822	0	13	-	-	-	-
Changes in value of private equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,927	351	1,170	554	5	-78	312	-261	0	0	1,227	-	-	-	-	-	-	-	-	-	-	-	-
Loss (gain) on foreign currency
851	-1,138	-186	188	534	-427	343	-426	-513	-311	84	195	959	510	80	442	-507	-403	716	249	-2,389	425	-415	-684	27	45	247	-624	-1,131	-504	-340	-2,177	-222	-352	-128	102	-383	247
Amortization of bond discount
280	277	274	271	249	233	230	228	226	223	221	211	216	102	100	100	99	98	97	96	96	94	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Gain) Loss on disposal of equipment, net
494	307	-57	5	-30	-2	-2,358	-819	-432	4	-460	-25	-288	-1	401	0	-2	-2	320	-19	-6	-2	157	-23	0	-55	-247	-48	-31	2	-237	-33	-68	1,497	79	-213	19	-30
Loss on impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-500	525	773	-	-	-	-
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	954	917	2,501	5,533	19,465	786	313	3,793	647	767	1,734	4,037	801	687	1,504	536	23	583	143	510	-573	-4	-49	103	0	0	0	111
Deferred income tax expense
-6,487	27,745	227	2,516	3,477	15,180	-126,053	-28,244	-19,082	891	3,325	-14,409	-1,637	20,156	21,877	-13,006	-13,952	998	7,026	-7,515	-13,225	4,751	1,161	5,364	10,978	9,442	2,640	-4,101	-4,679	6,425	-14,342	25,571	-13,612	3,874	-17,410	5,268	4,089	3,665
Change in value of equity investments
5,022	174	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Equity in income of equity investments, net of tax
12,217	11,227	9,843	12,384	12,321	10,608	9,613	8,497	9,513	12,909	7,162	6,729	5,976	6,248	10,121	5,336	4,579	5,394	5,752	4,135	3,600	4,096	3,690	2,792	2,748	3,817	3,188	1,957	2,252	2,774	1,233	4,590	615	2,270	2,779	1,104	2,366	893
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable
28,198	40,813	-27,917	45,262	26,495	-9,006	5,147	12,492	37,934	-25,844	24,772	20,079	-8,660	37,044	-16,693	21,588	-2,275	36,598	-17,044	25,565	13,467	11,418	1,946	-1,310	13,776	-5,745	-1,125	-2,106	-5,048	5,424	2,662	23,792	-16,439	-2,971	-26,859	31,299	12,572	-9,874
Contract assets and contract liabilities
2,608	11,357	7,595	-13,621	9,295	-498	-14,466	3,058	996	4,228	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contract cost assets
-3,330	116	410	-83	821	2,168	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Prepaid expenses, other current assets and other long-term assets
13,923	38,936	-718	-10,573	-12,812	7,701	9,029	-11,273	-27,947	27,102	39,916	-1,686	12,306	7,809	8,728	-5,500	5,446	-1,302	-259	-6,085	13,699	3,170	-12,039	-12,301	-7,336	32,247	7,351	-9,097	-2,353	7,044	-23,865	5,274	9,538	-14,046	-20,857	-3,031	28,275	-2,892
Accounts payable
-10,074	918	6,478	-392	-5,657	2,289	3,234	1,242	6,369	6,808	2,517	2,394	-13,306	-4,167	-2,824	-1,727	-1,466	2,030	-1,890	7,349	-12,432	15,738	-10,987	-6,453	-4,420	-30,182	30,518	3,945	-7,082	9,825	117	-2,390	-8,604	-4,635	-20,424	7,064	18,957	8,319
Accrued salaries and employee benefits
1,436	-39,718	13,656	12,585	12,051	-50,835	23,853	16,845	5,388	-32,548	7,115	17,842	13,913	-41,467	23,579	6,888	10,250	-11,549	8,876	3,044	-1,520	-9,986	9,149	-1,563	1,277	-9,266	6,484	5,035	509	-19,111	7,102	8,879	2,311	-13,800	5,651	-13,585	18,676	-32,707
Other current liabilities and other long-term liabilities
-60,157	33,696	-24,641	-4,983	-3,278	-22,700	-61,223	3,601	-112,311	85,342	24,419	2,143	19	35,153	-57,464	-12,523	-35,198	50,151	-19,735	144	36,817	28,231	-6,952	-11,308	-7,230	879	-21,167	15	-7,197	12,943	13,861	-13,220	6,896	6,109	-3,656	14,451	-38,781	49,188
Net cash provided by operating activities
167,841	227,589	289,159	281,915	258,700	211,893	197,621	258,450	112,097	288,881	167,204	211,999	193,253	145,828	141,480	175,261	126,801	158,492	170,087	150,672	90,736	148,706	144,913	150,237	104,811	52,437	121,766	130,583	105,491	97,913	138,654	98,371	97,123	102,171	109,258	84,194	62,173	133,535
Cash flows from investing activities:
Additions to licensed computer software from vendors
12,581	48,628	57,260	13,280	5,389	13,827	2,802	12,546	5,406	5,162	439	-267	6,485	4,894	33,677	3,918	1,553	11,581	15,141	6,768	1,766	5,963	29,223	6,701	-2,193	29,904	13,616	2,107	14,685	2,593	9,469	4,151	4,602	1,280	42,602	6,412	17,043	3,769
Purchases of property and equipment
11,448	19,396	35,425	29,233	26,539	22,069	27,467	15,833	14,499	12,240	18,998	11,465	10,729	9,940	18,135	14,051	12,407	10,047	20,557	18,204	23,511	13,641	15,702	11,195	7,220	6,481	7,099	10,486	8,826	4,984	8,817	5,578	6,583	5,960	16,699	12,659	8,019	9,170
Additions to contract acquisition costs
-	-	-	-	-	-	48,144	7,007	6,987	7,668	7,463	7,108	10,266	21,010	7,757	10,877	27,730	12,364	22,331	26,917	21,720	17,903	19,141	12,318	10,840	13,666	8,684	8,960	11,641	5,099	9,117	6,499	8,805	7,202	32,895	22,886	9,974	9,914
Additions to internally developed computer software
12,412	12,405	9,470	9,758	9,594	10,340	8,254	8,430	6,226	7,355	8,338	7,221	9,940	8,544	7,565	10,785	11,308	9,561	10,238	9,992	11,536	9,735	11,081	9,997	7,225	5,297	4,083	5,081	5,686	4,435	4,551	4,089	4,764	4,478	10,246	5,814	3,646	5,760
Cash used in acquisitions, net of cash acquired
-	-	0	0	14,776	1,036,853	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	122,448	64,500	0	1,750	-	-	-	-	-	-	-	-
Purchase of private equity investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	2,477	-9	822	232	140	595	411	661	1,747	124	499	-	-	-	-	-	-	-	-
Proceeds from sale of private equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,839	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of acquisition intangibles
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	4,500	-	-	-	-
Other investing activities
350	2,350	-1,487	1,551	2,569	1,550	1,282	677	380	379	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-36,791	-82,779	-96,821	-53,822	-58,867	-1,084,639	-87,949	-44,493	-33,498	-32,804	-35,738	-28,282	-2,384,588	-44,388	-65,406	-41,106	-55,798	-41,714	-62,079	-102,989	-13,475	-48,064	-75,379	-1,355,011	-23,687	-55,759	-156,591	-92,881	-40,962	-19,360	-35,047	-21,912	-70,041	-14,420	-102,333	-43,547	-187,213	-28,613
Cash flows from financing activities:
Principal payments on long-term borrowings, finance lease obligations and license agreements
142,175	157,324	5,179	180,653	2,497,524	129,010	5,518	181,695	129,439	104,654	105,486	182,645	131,299	304,654	12,504	15,822	11,307	15,086	21,257	14,215	12,190	22,277	84,161	62,571	10,289	9,784	11,657	175,357	6,533	6,505	7,840	6,558	5,943	8,551	-197	4,080	4,127	3,731
Purchase of noncontrolling interest
-	-	-	-	-	-	0	0	0	70,000	0	0	-1	5,879	-	-	-	-	0	0	0	37,500	-	-	-	-	-	-	-	-	0	0	0	174,050	-	-	-	-
Dividends paid on common stock
23,078	23,456	23,660	23,707	23,694	23,496	23,866	18,417	18,401	18,333	18,378	18,378	18,339	18,283	18,400	18,399	18,618	18,260	18,637	18,526	18,845	18,788	-	-	-	-	37,316	18,910	18,896	18,913	13,333	13,487	13,573	13,556	13,655	13,827	13,808	13,797
Subsidiary dividends paid to noncontrolling shareholders
-	-	-1	0	3,777	1	781	1,331	3,133	752	-	-	-	-	1,232	978	2,318	500	803	1,187	2,870	2,312	1,424	1,758	3,186	953	0	1,710	0	1,087	-	-	-	-	-	-	-	-
Repurchase of common stock under plans and tax withholding
10	400,013	172,523	361	58	24	256,342	27,871	7	17	24,879	362	0	5,034	158,600	114	29,106	54,415	49,622	46	115,675	5,173	97,590	-1	767	5,501	-	-	-	-	47,910	37,661	0	35,700	0	45,153	0	1,075
Debt issuance costs
-	-	-	-	-	-	-	-	-	-	-8	9	-38	26,592	-	-	-	-	-	-	-	-	102	453	9,484	3,534	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-	-	954	917	2,501	5,533	19,465	786	313	3,793	647	767	1,734	4,037	801	687	1,504	536	23	583	143	510	-573	-4	-49	103	0	0	0	111
Proceeds from borrowings of long-term debt
0	450,000	0	0	2,437,000	1,040,000	-	-	-	-	0	0	870,000	1,796,295	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
445	6,466	153	1,735	2,828	26,461	6,333	6,512	4,780	4,207	1,728	243	9,111	626	38,946	430	8,548	10,712	7,992	4,593	12,745	9,539	13,203	8,039	16,898	2,551	221	4,753	1,997	2,701	6,322	404	220	1,119	0	165	269	109
Net cash provided by (used in) financing activities
-164,818	-124,327	-201,208	-203,011	-227,204	913,930	-80,174	-222,802	-146,200	-189,549	-147,438	-200,568	728,184	1,442,012	-132,325	-32,185	-52,488	-73,756	-80,284	-28,614	-135,101	-72,474	-188,269	225,189	1,071,579	-16,685	-70,822	-103,855	-14,994	-23,294	-63,334	-57,291	-19,793	-230,635	17,518	-62,895	-17,916	-18,383
Cash, cash equivalents and restricted cash:
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-2,381	2,049	-3,477	504	-5,827	1,684	391	2,095	1,916	1,578	-5,302	-1,585	-3,641	-669	-2,271	-3,498	2,751	-4,093	-4,582	-3,985	1,384	1,015	105	2,236	-1,591	-4,508	-3,310	4,079	-1,847	-641	-4,649	-1,789	3,557	577	-2,248	6,855	-3,538	-2,007
Net increase (decrease) in cash, cash equivalents and restricted cash
-36,149	22,532	-12,347	25,586	-33,198	42,868	29,889	-6,750	-65,685	68,106	-21,274	-18,436	-1,466,792	1,542,783	-58,522	98,472	21,266	38,929	23,142	15,084	-56,456	29,183	-118,630	-977,349	1,151,112	-24,515	-108,957	-62,074	47,688	54,618	35,624	17,379	10,846	-142,307	22,195	-15,393	-146,494	84,532
Supplemental cash flow information:
Interest paid
74,775	10,629	41,388	41,321	29,738	42,040	19,554	35,746	20,851	36,554	9,655	-7,043	79,223	2,585	18,431	1,689	18,545	1,760	10,233	10,186	10,227	10,323	20,761	978	642	776	949	585	694	724	752	778	849	709	324	476	1,087	304
Income taxes paid, net
61,360	-1,949	19,447	37,624	18,539	2,936	74,678	72,815	118,601	3,019	28,573	32,721	26,552	-418	49,275	53,924	67,532	724	39,720	6,367	86,537	3,146	15,805	17,178	31,450	15,600	29,891	29,837	42,906	4,144	19,763	24,319	34,555	3,447	19,251	30,730	68,510	3,682