Item 6. SELECTED FINANCIAL DATA

5K characters. Original on sec.gov · Markdown

Item 6. SELECTED FINANCIAL DATA

We derived the consolidated statement of income and other financial data for the years ended December 31, 2016, 2015 and 2014 and the selected consolidated balance sheet data as of December 31, 2016 and 2015 from the audited consolidated financial statements included elsewhere in this report. We derived the selected historical financial data for the years ended December 31, 2013 and 2012 and the selected consolidated balance sheets as of December 31, 2014, 2013 and 2012 from our audited consolidated financial statements that are not included in this report.

The selected consolidated financial data set forth below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our audited consolidated financial statements and notes thereto included elsewhere in this report. Our historical results are not necessarily indicative of the results to be expected in any future period.



(in thousands, except per share data)	2016			2015			2014			2013		2012
Consolidated statement of income data:
Revenues, net	$	1,831,546		$	1,702,865		$	1,199,390		$	895,171	$	707,534
Expenses:
Merchant commissions	104,345			108,257			96,254			68,143		58,573
Processing	355,414			331,073			173,337			134,030		115,446
Selling	131,443			109,075			75,527			57,346		46,429
General and administrative	283,625			297,715			205,963			142,283		110,122
Depreciation and amortization	203,256			193,453			112,361			72,737		52,036
Other operating, net	(690		)	(4,242		)	(29,501		)	—		—
Operating income	754,153			667,534			565,449			420,632		324,928
Equity method investment loss	36,356			57,668			8,586			—		—
Other expense (income), net	2,982			2,523			(700		)	602		1,121
Interest expense, net	71,896			71,339			28,856			16,461		13,017
Loss on early extinguishment of debt	—			—			15,764			—		—
Total other expense	111,234			131,530			52,506			17,063		14,138
Income before income taxes	642,919			536,004			512,943			403,569		310,790
Provision for income taxes	190,534			173,573			144,236			119,068		94,591
Net income	$	452,385		$	362,431		$	368,707		$	284,501	$	216,199
Earnings per share:
Earnings per share, basic	$	4.89		$	3.94		$	4.37		$	3.48	$	2.59
Earnings per share, diluted	$	4.75		$	3.85		$	4.24		$	3.36	$	2.52
Weighted average shares outstanding, basic	92,597			92,023			84,317			81,793		83,328
Weighted average shares outstanding, diluted	95,213			94,139			86,982			84,655		85,736
	As of December 31,
(in thousands)	2016			2015			2014			2013		2012
Consolidated balance sheet data:
Cash and cash equivalents	$	475,018		$	447,152		$	477,069		$	338,105	$	283,649
Restricted cash(1)	168,752			167,492			135,144			48,244		53,674
Total assets	9,626,732			7,889,806			8,524,701			3,908,717		2,721,870
Total debt	3,858,233			2,935,000			3,593,717			1,486,378		925,092
Total stockholders’ equity	3,084,038			2,830,047			2,618,562			1,223,502		913,822

(1) Restricted cash represents customer deposits repayable on demand.

Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND