v3.23.2
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 279,786 $ (415,415)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 223,753 199,875
Amortization of acquired intangibles 645,675 656,373
Amortization of capitalized contract costs 59,065 53,113
Share-based compensation expense 136,701 85,414
Provision for operating losses and credit losses 61,313 57,929
Noncash lease expense 32,362 43,036
Deferred income taxes (317,660) (180,001)
Equity in income of equity method investments, net of tax (36,394) (31,294)
Impairment of goodwill 0 833,075
Net loss on business dispositions 139,095 152,211
Other, net 1,409 17,573
Changes in operating assets and liabilities, net of the effects of business combinations:    
Accounts receivable (58,981) (80,580)
Settlement processing assets and obligations, net 213,936 69,595
Prepaid expenses and other assets (191,478) (191,652)
Accounts payable and other liabilities (24,099) (71,119)
Net cash provided by operating activities 1,164,483 1,198,133
Cash flows from investing activities:    
Business combinations and other acquisitions, net of cash and restricted cash acquired (4,101,415) (9,931)
Capital expenditures (331,002) (324,027)
Issuance of notes receivable (50,000) 0
Net cash from sales of businesses 478,695 (29,755)
Other, net 2,186 16
Net cash used in investing activities (4,001,536) (363,697)
Cash flows from financing activities:    
Net borrowings from (repayments of) settlement lines of credit (233,075) 4,139
Net borrowings from commercial paper notes 1,841,675 0
Proceeds from long-term debt 7,359,193 2,954,156
Repayments of long-term debt (5,673,724) (2,276,488)
Payments of debt issuance costs (12,255) (1,706)
Repurchases of common stock (418,271) (1,249,994)
Proceeds from stock issued under share-based compensation plans 19,282 23,619
Common stock repurchased - share-based compensation plans (33,680) (26,972)
Distributions to noncontrolling interests (17,255) (14,363)
Payment of contingent consideration in business combination 0 (15,726)
Dividends paid (130,635) (139,315)
Net cash provided by (used in) financing activities 2,701,255 (742,650)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 34,543 (114,968)
Decrease in cash, cash equivalents and restricted cash (101,255) (23,182)
Cash, cash equivalents and restricted cash, beginning of the period 2,215,606 2,123,023
Cash, cash equivalents and restricted cash, end of the period $ 2,114,351 $ 2,099,841

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