Wex inc. (WEX)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
Revenues
Revenue from Contract with Customer, Excluding Assessed Tax

-

-

-

-

495,869

519,987

-

-

-

-

-

-

Total revenues

1,723,691

1,492,639

1,248,577

1,012,488

854,637

817,647

717,463

623,151

553,076

390,406

315,203

388,159

Fleet payment solutions

-

-

-

-

-

-

-

470,591

436,704

329,239

277,996

361,187

Other payment solutions

-

-

-

-

-

-

-

152,560

116,372

61,167

37,207

26,972

Cost of services
Processing costs

400,439

309,450

278,056

458,807

-

-

-

-

-

-

-

-

Service fees

57,027

53,655

72,957

79,367

138,844

119,876

103,428

103,189

70,202

46,368

27,666

20,361

Salary and other personnel

-

-

-

-

234,564

200,809

164,521

123,380

104,610

87,364

75,123

66,969

Restructuring

-

-

-

-

9,010

0

0

-

-

-

-

-

Provision for credit losses

65,664

66,482

64,218

33,458

22,825

32,144

20,200

22,539

27,527

19,838

17,715

45,021

Operating interest

134,677

105,023

107,067

113,418

46,189

36,042

29,419

10,433

11,676

5,314

6,210

11,859

Operating interest

41,915

38,407

24,993

12,386

5,628

6,437

4,287

4,990

5,453

5,370

10,253

29,570

Depreciation and amortization

94,725

79,935

74,061

78,772

-

-

-

-

-

-

-

-

Cost of Goods and Services Sold

-

-

-

458,807

-

-

-

-

-

-

-

-

Total cost of services

659,770

547,929

514,285

-

3,236

-

-

-

-

-

-

-

General and administrative

275,807

209,319

184,339

185,557

-

-

-

-

-

-

-

-

Sales and marketing

259,869

229,234

163,654

130,827

-

-

-

-

-

-

-

-

Technology leasing and support

-

-

-

-

41,315

30,581

24,217

18,537

15,423

12,881

9,327

8,510

Occupancy and equipment

-

-

-

-

20,618

18,278

15,967

12,361

11,803

8,654

8,718

9,159

Advertising

-

-

-

-

-

11,814

11,176

10,155

9,713

8,118

4,974

5,283

Marketing

-

-

-

-

-

3,934

3,684

3,679

3,240

2,197

2,737

3,215

Postage and shipping

-

-

-

-

-

5,369

5,140

4,347

4,325

3,413

3,105

3,248

Communications

-

-

-

-

-

9,213

7,069

5,373

5,115

3,631

2,703

2,527

Depreciation and amortization

142,404

119,870

129,663

62,879

83,077

70,380

58,208

75,263

45,369

29,893

21,930

20,123

Impairment charges and asset write-offs

0

5,649

44,171

0

0

-

-

-

-

-

-

-

Gain (Loss) on Disposition of Stock in Subsidiary

0

0

20,958

0

1,215

27,490

0

0

-

-

-

-

Other

-

-

-

-

67,942

30,064

22,827

17,719

16,972

11,970

12,802

12,741

Total operating expenses

-

-

-

-

625,844

511,409

440,724

401,532

319,752

239,697

197,053

226,727

Operating income

385,841

380,638

233,423

158,525

228,793

306,238

276,739

221,619

233,324

150,709

118,150

161,432

Net foreign currency loss

-926

-38,800

31,487

-9,233

-5,689

-13,438

964

-299

-459

7,145

-40

-

Net unrealized gains on interest rate swap agreements

-

-

-

-

0

0

-

-

-

-

-

-

Gain on settlement of portion of amounts due under tax receivable agreement

-

-

-

-

-

-

-

-

-

-

136,485

-

Net Realized And Unrealized Losses On Fuel Price Derivatives

-

-

-

-711

-5,848

-46,212

9,851

12,365

11,869

7,244

22,542

-55,206

NonCash Adjustments Related to Tax Receivable Agreement

932

-775

15,259

-563

2,145

-1,331

-33

-2,089

-715

-214

-599

9,014

Net unrealized loss on financial instruments

-34,654

2,579

1,314

12,908

-

-

-

-

-

-

-

-

Decrease in tax refund due to former shareholder of RD Card Holdings Australia

-

-

-

-

-

-

-

9,750

0

-

-

-

(Loss) income before income taxes

216,516

238,619

174,416

48,930

184,908

301,639

238,400

206,183

208,605

145,082

225,244

195,765

Income tax (benefit) provision

61,223

68,843

15,450

28,592

75,296

101,621

90,102

109,474

74,983

57,453

85,585

68,125

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

155,293

169,776

158,966

20,338

109,612

200,018

148,298

96,709

133,622

87,629

-

-

Less: Net income from non-controlling interests

-1,030

1,481

-1,096

-3,161

-1,705

-2,193

-910

-213

-

-

-

-

Net (loss) income attributable to WEX Inc.

156,323

168,295

160,062

-

111,317

202,211

149,208

96,922

133,622

87,629

139,659

127,640

Accretion of non-controlling interest

57,300

0

0

-

9,413

0

0

-

-

-

-

-

Net Income (Loss) Attributable to Parent, After Accretion of Non-controlling Interest

99,006

168,295

160,062

23,499

101,904

202,211

149,208

-

-

-

-

-

Earnings Per Share [Abstract]
Basic (in dollars per share)

2.29

3.90

3.72

0.58

2.63

5.20

3.83

2.50

3.45

2.28

3.65

3.28

Diluted (in dollars per share)

2.26

3.86

3.71

0.57

2.62

5.18

3.82

2.48

3.43

2.25

3.55

3.22

Weighted average common shares outstanding:
Basic (in shares)

43,316

43,156

42,977

40,809

38,771

38,890

38,946

38,840

38,686

38,486

38,303

38,885

Diluted (in shares)

43,769

43,574

43,105

40,914

38,843

39,000

39,103

39,092

38,998

39,052

39,364

39,787

Payment processing revenue
Total revenues

825,592

723,991

569,166

520,619

-

-

-

-

-

-

-

-

Processing costs

-

-

-

270,717

-

-

-

-

-

-

-

-

Account servicing revenue
Total revenues

413,552

308,096

276,570

211,012

156,693

115,509

-

-

-

-

-

-

Finance fee revenue
Total revenues

247,318

208,627

188,792

132,968

88,993

80,883

-

-

-

-

-

-

Other revenue
Total revenues

237,229

251,925

214,049

147,889

113,082

101,268

-

-

-

-

-

-

Payment Processing Revenue
Cost of Goods and Services Sold

-

-

-

270,717

-

-

-

-

-

-

-

-