v3.26.3
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net income $ (1,459,932) $ 1,219,465
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 373,725 319,726
Amortization of acquired intangibles 2,259,141 759,634
Amortization of capitalized contract costs 81,141 100,005
Share-based compensation expense 91,476 114,821
Provision for operating losses and credit losses 104,450 60,340
Noncash lease expense 48,037 35,575
Deferred income taxes (945,497) 83,738
Paid-in-kind interest capitalized to principal of notes receivable (51,207) (43,192)
Equity in income of equity method investments, net of tax (59,111) (55,055)
Distributions received on investments 0 7,512
Impairment of goodwill 0 33,218
Gain on business dispositions (22,174) (348,151)
Other, net 79,228 25,364
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable (182,419) (125,307)
Prepaid expenses and other assets (351,654) (158,424)
Income taxes payable 1,123,713 94,797
Accounts payable and other liabilities (876,008) 17,314
Net cash provided by operating activities 212,909 2,141,380
Cash flows from investing activities:    
Business combinations and other acquisitions, net of cash and restricted cash acquired (740,516) (201,853)
Capital expenditures (728,937) (449,556)
Principal payments received on notes receivable 13,125 13,125
Net cash from sales of businesses 7,362,347 709,653
Proceeds from sales of investments 0 8,258
Net cash provided by investing activities 5,906,019 79,627
Cash flows from financing activities:    
Changes in funds held for customers (73,441) (156,589)
Changes in settlement processing assets and obligations, net (573,242) 139,819
Net borrowings from settlement lines of credit 856,881 439,363
Net borrowings from commercial paper notes 699,401 0
Proceeds from long-term debt 11,642,241 4,899,113
Repayments of long-term debt (20,411,254) (5,972,773)
Payments of debt issuance costs (9,798) (41,414)
Repurchases of common stock (1,239,988) (1,191,089)
Proceeds from stock issued under share-based compensation plans 19,014 23,723
Common stock repurchased - share-based compensation plans (35,070) (38,663)
Distributions to noncontrolling interests (48,666) (49,179)
Contributions from noncontrolling interests 0 1,145
Dividends paid (200,713) (179,464)
Net cash used in financing activities (9,374,635) (2,126,008)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (43,572) 205,657
Increase (decrease) in cash, cash equivalents and restricted cash (3,299,279) 300,656
Cash, cash equivalents and restricted cash, beginning of the period 9,116,414 2,735,975
Cash, cash equivalents and restricted cash, end of the period $ 5,817,135 $ 3,036,631

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