| Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|
Operating Activities: | ||||||||
Net income (loss) | ||||||||
19,600 | 182,700 | 280,900 | 209,229 | 168,990 | 208,140 | 110,758 | 84,810 | 54,917 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization expense | ||||||||
1,095,000 | 318,500 | 270,100 | 276,942 | 240,802 | 185,453 | 160,538 | 155,326 | 110,964 |
Write-off of intangible asset | ||||||||
- | - | - | - | 34,267 | 0 | 0 | - | - |
Loss on derivative assets | ||||||||
- | - | - | - | - | - | - | -800 | -4,300 |
Amortization of customer incentives | ||||||||
27,400 | 24,300 | 25,800 | 18,256 | 12,032 | 10,139 | 6,372 | 3,511 | 1,619 |
Amortization and write-off of debt issuance costs | ||||||||
69,600 | 6,000 | 22,600 | 8,376 | 31,956 | 24,427 | 59,407 | 19,544 | 1,717 |
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | ||||||||
35,900 | 33,100 | 0 | 0 | - | - | - | - | - |
Share-based compensation expense | ||||||||
124,800 | 47,900 | 35,900 | 30,492 | 42,171 | 29,729 | 33,444 | 2,974 | 2,799 |
Deferred tax (benefit) expense | ||||||||
91,100 | -596,800 | -79,700 | -55,280 | -32,469 | -31,340 | -352 | -31,133 | 8,755 |
Excess tax benefit from share-based compensation | ||||||||
0 | 0 | 12,200 | 16,707 | 13,420 | 5,464 | 14,747 | - | - |
Tax receivable agreements non-cash items | ||||||||
3,000 | 421,700 | 3,900 | 2,127 | 25,838 | 0 | 0 | - | - |
Other | ||||||||
-20,900 | -4,000 | -500 | 945 | 0 | -491 | 1,208 | 303 | 0 |
Change in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
172,300 | 38,900 | 212,900 | 70,194 | 94,326 | 71,614 | 28,517 | 25,715 | 80,181 |
Net settlement assets and obligations | ||||||||
-63,000 | -25,300 | -79,700 | -168,319 | -157,663 | -93,318 | 48,668 | 38,258 | -91,472 |
Customer incentives | ||||||||
- | - | - | 32,892 | 17,108 | 13,034 | 9,306 | 11,385 | 6,524 |
Prepaid and other assets | ||||||||
64,700 | 25,700 | 3,000 | -11,324 | 25,557 | 5,127 | -11,053 | 10,532 | 4,911 |
Accounts payable and accrued expenses | ||||||||
-141,000 | 130,500 | 91,600 | 57,861 | 53,172 | -7,250 | 11,332 | 30,693 | 46,371 |
Payable to related party | ||||||||
- | - | - | 2,663 | -433 | 756 | -2,189 | -8,652 | -16,312 |
Other liabilities | ||||||||
24,000 | -31,800 | -9,700 | 11,703 | -3,935 | -682 | 2,077 | -1,098 | -1,140 |
Net cash provided by operating activities | ||||||||
936,300 | 784,800 | 645,100 | 727,580 | 592,905 | 480,622 | 293,114 | 233,454 | 196,336 |
Investing Activities: | ||||||||
Purchases of property and equipment | ||||||||
304,900 | 110,800 | 118,200 | 84,730 | 103,179 | 61,578 | 51,435 | 62,714 | 33,655 |
Acquisition of customer portfolios and related assets and other | ||||||||
74,400 | 41,800 | 23,600 | 41,997 | 29,596 | 7,892 | 13,213 | 3,906 | 985 |
Purchase of investments | ||||||||
- | - | - | - | 7,487 | 3,174 | 313 | 3,300 | 0 |
Payments for Hedge, Investing Activities | ||||||||
8,100 | 0 | 21,500 | 0 | 0 | - | - | - | - |
Proceeds from foreign currency forward | ||||||||
71,500 | 0 | 0 | - | - | - | - | - | - |
Cash Acquired in Acquisition, Net of Cash Used | ||||||||
-1,389,600 | 531,500 | 406,800 | 0 | 1,658,694 | 155,654 | 352,330 | 0 | 662,511 |
Net cash (used in) provided by investing activities | ||||||||
1,073,700 | -684,100 | -570,100 | -126,727 | -1,798,956 | -228,298 | -417,291 | -69,920 | -697,151 |
Financing Activities: | ||||||||
Proceeds from initial public offering, net of offering costs of $39,091 | ||||||||
- | - | - | - | - | - | 460,913 | 0 | 0 |
Proceeds from follow-on offering, net of offering costs of $1,951 | ||||||||
- | - | - | - | - | - | 33,512 | 0 | 0 |
Proceeds from issuance of long-term debt | ||||||||
2,951,800 | 1,270,000 | 3,234,400 | 0 | 3,443,000 | 1,850,000 | 1,338,750 | 0 | 1,755,751 |
Proceeds from issuance of senior unsecured notes | ||||||||
0 | 1,135,200 | 0 | 0 | - | - | - | - | - |
Borrowings on revolving credit facility | ||||||||
4,076,000 | 8,442,000 | 1,250,000 | 177,000 | 0 | 0 | - | - | - |
Repayment of revolving credit facility | ||||||||
4,251,000 | 8,217,000 | 1,250,000 | 177,000 | 0 | - | - | - | - |
Repayment of debt and finance lease obligations | ||||||||
2,835,100 | 143,700 | 3,084,900 | 326,462 | 1,870,540 | 1,304,966 | 1,859,199 | 20,373 | 1,237,771 |
Payment of debt issuance costs | ||||||||
91,100 | 27,600 | 20,100 | 0 | 38,092 | 26,288 | 28,949 | 6,276 | 43,565 |
Proceeds from issuance of Class A common stock under employee stock plans | ||||||||
23,800 | 14,500 | 15,400 | 13,630 | 4,492 | 0 | 0 | - | - |
Repurchase of Class A common stock (to satisfy tax withholding obligations) | ||||||||
- | - | - | 16,527 | 17,801 | 15,224 | 17,906 | 0 | - |
Purchase and cancellation of Class A common stock | ||||||||
0 | 1,268,000 | 0 | 0 | - | - | - | - | - |
Warrant termination | ||||||||
- | - | - | 200,219 | 0 | 0 | - | - | - |
Purchase of Class B units in Vantiv Holding from Fifth Third Bank | ||||||||
- | - | - | - | - | - | 33,512 | 0 | - |
Repurchase of Class A common stock (including to satisfy tax withholding obligations) | ||||||||
176,600 | 10,100 | 87,700 | 200,406 | 59,364 | 503,225 | 0 | 0 | 0 |
Settlement and payments under certain tax receivable agreements | ||||||||
196,000 | 140,300 | 189,400 | 63,724 | 0 | 112,562 | 0 | 0 | - |
Payments under tax receivable agreements | ||||||||
- | - | - | 22,805 | 8,639 | 0 | 0 | - | - |
Excess tax benefit from share-based compensation | ||||||||
0 | 0 | 12,200 | 16,707 | 13,420 | 5,464 | 14,747 | 0 | 0 |
Distribution to funds managed by Advent International Corporation | ||||||||
- | - | - | - | - | - | 40,086 | 0 | 0 |
Distributions to non-controlling interests | ||||||||
10,500 | 22,600 | 12,900 | 12,892 | 22,911 | 41,154 | 47,584 | 2,848 | 0 |
Other | ||||||||
- | - | - | 0 | 0 | - | - | - | - |
(Decrease) in cash overdraft | ||||||||
- | - | - | -2,627 | 2,627 | 0 | 0 | - | - |
Distribution to non-controlling interests | ||||||||
- | - | - | - | - | - | - | - | -26,257 |
Net cash provided by (used in) financing activities | ||||||||
-508,700 | 1,032,400 | -133,000 | -815,325 | 1,446,192 | -147,955 | -179,314 | -29,497 | 448,158 |
Net (decrease) increase in cash and cash equivalents | ||||||||
1,501,300 | 1,133,100 | -58,000 | -214,472 | 240,141 | 104,369 | -303,491 | 134,037 | -52,657 |
Effect of exchange rate changes on cash | ||||||||
-192,200 | 0 | 0 | - | - | - | - | - | - |
Cash Payments: | ||||||||
Interest | ||||||||
302,900 | 123,100 | 102,700 | 98,971 | 70,751 | 37,975 | 60,886 | 106,459 | 101,137 |
Income taxes | ||||||||
29,400 | 45,800 | 51,100 | 6,565 | 35,157 | 46,198 | 29,261 | 12,127 | 7,745 |
Non-cash Items: | ||||||||
Issuance of tax receivable agreements | ||||||||
120,900 | 647,500 | 171,200 | 376,597 | 109,400 | 329,400 | 484,700 | 0 | 0 |
Assets acquired under capital lease obligations | ||||||||
- | - | - | - | 12,997 | 20,345 | 1,202 | 19,711 | 0 |
Assets acquired under debt obligations | ||||||||
- | - | - | - | - | - | - | 19,302 | 0 |
Accrual of secondary offering costs | ||||||||
- | - | - | - | - | - | 3,000 | 0 | 0 |