v3.24.3
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 1,045,870 $ 656,390
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 368,905 342,025
Amortization of acquired intangibles 1,036,768 986,026
Amortization of capitalized contract costs 102,926 90,463
Share-based compensation expense 134,361 173,325
Provision for operating losses and credit losses 60,677 84,154
Noncash lease expense 44,205 49,805
Deferred income taxes (251,652) (407,767)
Paid-in-kind interest capitalized to principal of notes receivable (54,743) (29,113)
Equity in income of equity method investments, net of tax (50,644) (54,101)
Technology asset charge 55,808 0
Net loss on business dispositions 0 139,095
Other, net 22,869 36,715
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable (39,204) (51,490)
Settlement processing assets and obligations, net 789,702 (29,857)
Prepaid expenses and other assets (167,511) (266,923)
Accounts payable and other liabilities (219,081) (127,456)
Net cash provided by operating activities 2,879,256 1,591,291
Cash flows from investing activities:    
Business combinations and other acquisitions, net of cash and restricted cash acquired (373,790) (4,099,766)
Capital expenditures (490,913) (500,795)
Issuance of notes receivable 0 (50,000)
Repayment of notes receivable 0 50,000
Net cash from sales of businesses 0 478,695
Proceeds from sale of investments 18,076 0
Other, net 6 2,187
Net cash used in investing activities (846,621) (4,119,679)
Cash flows from financing activities:    
Net repayments of settlement lines of credit (184,454) (33,328)
Net borrowings from (repayments of) commercial paper notes (1,367,859) 1,896,513
Proceeds from long-term debt 7,637,904 8,861,129
Repayments of long-term debt (5,802,954) (7,628,854)
Payments of debt issuance costs (33,056) (12,735)
Repurchases of common stock (900,047) (418,271)
Proceeds from stock issued under share-based compensation plans 33,531 51,085
Common stock repurchased - share-based compensation plans (53,780) (37,236)
Distributions to noncontrolling interests (29,356) (24,315)
Contributions from noncontrolling interests 2,116 0
Payment of deferred consideration in business combination (6,390) 0
Purchase of capped calls related to issuance of convertible notes (256,250) 0
Dividends paid (190,478) (195,611)
Net cash provided by (used in) financing activities (1,151,073) 2,458,377
Effect of exchange rate changes on cash, cash equivalents and restricted cash 1,078 (35,730)
Increase (decrease) in cash, cash equivalents and restricted cash 882,640 (105,741)
Cash, cash equivalents and restricted cash, beginning of the period 2,256,875 2,215,606
Cash, cash equivalents and restricted cash, end of the period $ 3,139,515 $ 2,109,865

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