Worldpay, Inc. WP Cash Flow

Worldpay, inc. (WP)
CashFlow / TTM

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
Operating Activities:
Net income (loss)
302,000	156,000	19,600	-142,600	-39,300	49,100	182,700	292,087	272,191	263,752	280,900	288,305	260,449	234,681	209,229	220,578	204,275	154,895	168,990	150,351	162,111	204,766	208,140	202,507	196,541	198,151	110,758	93,056	73,100	37,183	84,810	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense
1,117,700	1,152,200	1,095,000	905,500	659,100	449,600	318,500	307,550	291,136	277,970	270,100	270,393	274,945	277,370	276,942	276,992	271,643	258,758	240,802	218,934	202,249	192,003	185,453	177,785	169,800	164,939	160,538	158,740	158,187	157,521	155,326	0	0	0
Amortization of customer incentives
29,900	29,100	27,400	25,500	23,900	23,800	24,300	25,992	26,219	25,323	25,800	24,229	22,654	21,561	18,256	16,473	15,332	14,010	12,032	10,767	10,060	9,558	10,139	9,271	8,436	7,613	6,372	5,504	4,761	4,061	3,511	0	0	0
Amortization and write-off of debt issuance costs
-1,400	11,800	69,600	75,300	76,600	64,700	6,000	21,682	21,663	22,209	22,600	6,410	6,417	6,361	8,376	8,324	8,274	34,392	31,956	31,587	31,149	24,596	24,427	24,256	24,157	4,056	59,407	60,605	62,224	73,321	19,544	0	0	0
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments
0	0	35,900	44,600	69,000	69,000	33,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share-based compensation expense
126,200	140,600	124,800	111,800	82,600	54,500	47,900	45,108	41,108	38,148	35,900	32,532	30,064	27,221	30,492	35,226	38,847	44,855	42,171	39,174	35,843	31,928	29,729	27,907	29,882	31,521	33,444	27,661	19,073	10,985	2,974	0	0	0
Deferred tax (benefit) expense
147,000	68,300	91,100	-510,600	-583,600	-551,500	-596,800	-89,800	-87,800	-82,736	-79,700	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	12,200	12,103	11,021	12,053	16,707	17,372	17,874	17,169	13,420	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Tax receivable agreements non-cash items
0	1,400	3,000	420,300	418,900	420,200	421,700	24,880	23,352	14,652	3,900	8,443	5,608	3,484	2,127	12,953	13,605	18,829	25,838	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Other
-18,200	-14,300	-20,900	4,800	-4,000	-34,300	-4,000	-2,367	-1,318	-600	-500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in operating assets and liabilities:
Accounts receivable
112,900	193,700	172,300	152,600	154,800	81,400	38,900	98,262	105,421	126,204	212,900	166,875	142,421	140,967	70,194	49,637	52,113	52,711	94,326	113,294	85,363	68,308	71,614	4,361	35,483	48,845	28,517	43,540	45,027	35,342	25,715	0	0	0
Net settlement assets and obligations
22,100	61,400	-63,000	345,500	-90,200	-54,200	-25,300	-100,558	-151,582	-100,857	-79,700	-127,885	-95,857	-130,505	-168,319	-72,137	-170,620	-139,285	-157,663	-188,810	-31,448	-11,000	-93,318	10,735	-46,676	-97,374	48,668	30,901	-2,411	65,195	38,258	0	0	0
Customer incentives
-	-	-	-	-	-	-	0	0	34,146	-	40,984	42,893	42,843	32,892	28,243	20,600	18,886	17,108	14,067	14,172	11,092	13,034	13,071	13,929	13,699	9,306	9,925	8,225	9,762	11,385	0	0	0
Prepaid and other assets
11,900	29,600	64,700	-34,800	25,100	48,900	25,700	92,083	35,305	325	3,000	-15,491	-11,792	-6,293	-11,324	13,220	17,996	31,725	25,557	7,913	13,894	-2,629	5,127	674	-22,717	-31,585	-11,053	5,632	23,962	30,065	10,532	0	0	0
Accounts payable and accrued expenses
132,000	-165,900	-141,000	-32,600	-57,700	121,900	130,500	89,041	102,333	93,901	91,600	42,669	51,685	64,629	57,861	58,750	47,036	36,906	53,172	41,731	28,131	-4,037	-7,250	-14,509	21,256	36,570	11,332	50,260	28,354	14,444	30,693	0	0	0
Payable to related party
-	-	-	-	-	-	-	-	-	-	-	-537	764	2,534	2,663	703	472	808	-433	451	-622	-916	756	1,911	1,933	1,755	-2,189	-9,782	-6,815	-8,718	-8,652	0	0	0
Other liabilities
62,300	34,700	24,000	-25,300	-23,400	-56,800	-31,800	-22,387	-23,372	-16,720	-9,700	3,305	6,593	11,915	11,703	911	-663	-1,275	-3,935	-1,975	-1,722	-1,783	-682	877	669	2,407	2,077	928	574	126	-1,098	0	0	0
Net cash provided by operating activities
1,493,000	1,018,400	936,300	493,500	745,400	734,500	784,800	725,605	814,814	750,217	645,100	651,418	623,689	655,022	727,580	636,665	688,822	610,050	592,905	601,656	438,053	408,866	480,622	387,977	459,468	500,240	293,114	330,654	296,129	180,795	233,454	0	0	0
Investing Activities:
Purchases of property and equipment
377,300	354,000	304,900	220,800	155,000	117,000	110,800	106,278	114,217	118,217	118,200	114,208	105,600	96,944	84,730	90,539	96,342	89,907	103,179	91,592	79,831	78,177	61,578	60,160	57,540	48,163	51,435	54,727	58,638	70,413	62,714	0	0	0
Acquisition of customer portfolios and related assets and other
36,000	42,100	74,400	59,600	73,300	74,600	41,800	59,621	42,317	27,824	23,600	4,864	5,726	40,648	41,997	41,509	39,682	13,627	29,596	28,736	29,007	25,254	7,892	9,238	13,712	10,416	13,213	13,210	8,624	6,223	3,906	0	0	0
Cash Acquired from Acquisition
-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,174	3,487	1,990	437	313	0	0	0	3,300	0	0	0
Payments for Hedge, Investing Activities
-	-	-	-	-	-	-	-	-	-	21,500	21,523	21,523	21,523	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from foreign currency forward
0	0	71,500	71,500	71,500	71,500	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash Acquired in Acquisition, Net of Cash Used
16,200	16,200	-1,389,600	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash (used in) provided by investing activities
-420,400	-420,400	1,073,700	1,179,300	1,240,900	754,200	-684,100	-1,104,176	-1,094,811	-552,818	-570,100	-140,595	-132,849	-159,115	-126,727	-132,048	-136,024	-1,769,715	-1,798,956	-1,786,509	-1,932,170	-262,135	-228,298	-580,869	-425,572	-411,346	-417,291	-67,937	-67,262	-76,636	-69,920	0	0	0
Financing Activities:
Proceeds from initial public offering, net of offering costs of $39,091
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	460,913	0	0	0	-	-	-	-
Proceeds from follow-on offering, net of offering costs of $1,951
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33,512	0	0	0	-	-	-	-
Proceeds from issuance of long-term debt
0	811,800	2,951,800	2,951,800	4,221,800	3,410,000	1,270,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,338,750	0	0	0	-	-	-	-
Borrowings on revolving credit facility
5,682,000	4,727,000	4,076,000	6,345,000	7,989,000	9,348,000	8,442,000	5,475,000	3,446,000	1,055,000	1,250,000	1,357,000	1,032,000	942,000	177,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of revolving credit facility
5,682,000	4,481,000	4,251,000	6,704,000	8,347,000	9,348,000	8,217,000	5,116,000	3,088,000	1,055,000	1,250,000	1,357,000	1,032,000	942,000	177,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of debt and finance lease obligations
888,300	1,755,200	2,835,100	2,768,300	2,663,800	1,770,300	143,700	3,094,881	3,085,579	3,078,733	3,084,900	129,273	133,037	137,406	326,462	326,842	327,245	2,076,756	1,870,540	1,863,506	1,856,129	1,272,892	1,304,966	1,346,491	1,333,877	154,096	1,859,199	1,798,004	1,791,764	1,778,185	20,373	0	0	0
Payment of debt issuance costs
0	4,300	91,100	94,700	117,600	113,300	27,600	44,100	21,200	21,200	20,100	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	28,949	0	0	0	-	-	-	-
Proceeds from issuance of Class A common stock under employee stock plans
25,600	23,200	23,800	21,900	19,300	15,500	14,500	13,860	16,962	18,205	15,400	13,231	12,540	11,395	13,630	14,457	13,799	10,286	4,492	2,774	321	236	0	0	0	0	-	-	-	-	-	-	-	-
Repurchase of Class A common stock (to satisfy tax withholding obligations)
0	0	-	0	0	0	-	0	0	6,343	-	6,444	6,444	6,514	16,527	17,221	18,690	20,130	17,801	19,184	19,080	19,111	15,224	0	0	0	-	-	-	-	-	-	-	-
Repurchase of Class A common stock (including to satisfy tax withholding obligations)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	59,364	136,999	137,591	537,591	503,225	400,592	400,000	-11,929	0	0	0	0	-	-	-	-
Settlement and payments under certain tax receivable agreements
125,100	143,300	196,000	175,500	219,600	206,100	140,300	108,585	209,537	204,500	189,400	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments under tax receivable agreements
-	-	-	-	-	-	-	0	0	33,297	-	53,474	53,474	53,474	22,805	22,805	22,805	22,805	8,639	8,639	8,639	8,639	0	0	0	0	-	-	-	-	-	-	-	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	12,200	12,103	11,021	12,053	16,707	17,372	17,874	17,169	13,420	10,555	9,597	9,702	5,464	8,065	8,013	8,110	14,747	0	0	0	-	-	-	-
Distribution to funds managed by Advent International Corporation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	40,086	0	0	0	-	-	-	-
Distributions to non-controlling interests
7,400	7,200	10,500	17,800	18,300	22,400	22,600	16,382	19,380	14,480	12,900	9,178	13,980	14,584	12,892	22,490	20,573	25,439	22,911	25,329	28,677	34,358	41,154	43,781	32,019	20,868	47,584	0	0	0	-	-	-	-
Other
-	-	-	-	-	-	-	-	-	-	-	-12	-12	-12	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Decrease) in cash overdraft
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,627	0	0	0	2,627	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Distribution to non-controlling interests
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Net cash provided by (used in) financing activities
-1,180,100	-1,007,200	-508,700	667,800	761,400	1,211,500	1,032,400	287,349	197,169	-141,857	-133,000	-614,563	-688,898	-652,891	-815,325	-588,506	-382,671	1,262,235	1,446,192	1,252,041	1,252,181	-151,503	-147,955	116,394	129,872	-103,516	-179,314	-192,903	-175,875	-170,567	-29,497	0	0	0
Net (decrease) increase in cash and cash equivalents
-107,500	-409,200	1,501,300	2,340,600	2,747,700	2,700,200	1,133,100	-91,222	-82,828	55,542	-58,000	-103,740	-198,058	-156,984	-214,472	-83,889	170,127	102,570	240,141	67,188	-241,936	-4,772	104,369	-76,498	163,768	-14,622	-303,491	69,814	52,992	-66,408	134,037	0	0	0
Effect of exchange rate changes on cash
-71,700	-213,200	-192,200	-143,500	-139,200	31,100	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash Payments:
Interest
278,900	304,000	302,900	233,900	215,800	153,800	123,100	120,596	108,486	104,269	102,700	101,410	101,283	100,354	98,971	100,105	101,808	85,781	70,751	54,445	38,677	38,923	37,975	38,307	35,648	36,897	60,886	74,912	92,610	112,091	106,459	0	0	0
Income taxes
45,800	42,400	29,400	30,900	31,000	46,100	45,800	46,991	58,657	38,230	51,100	35,790	14,954	15,174	6,565	0	0	0	-	-	34,888	45,489	46,198	60,055	53,659	41,953	29,261	18,424	11,209	12,233	12,127	0	0	0
Non-cash Items:
Issuance of tax receivable agreements
0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	484,700	0	0	0	-	-	-	-
Assets acquired under capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	19,711	0	0	0