v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income $ 1,644,153 $ 1,028,823 $ 143,313
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization of property and equipment 493,003 458,157 399,486
Amortization of acquired intangibles 1,369,328 1,318,535 1,262,969
Amortization of capitalized contract costs 138,051 123,405 109,701
Share-based compensation expense 164,244 208,994 163,261
Provision for operating losses and credit losses 81,018 97,103 116,879
Noncash lease expense 58,728 65,307 78,935
Deferred income taxes (346,228) (499,974) (315,495)
Paid-in-kind interest capitalized to principal of notes receivable (74,139) (46,524) 0
Equity in income of equity method investments, net of tax (70,499) (67,896) (85,685)
Distributions received on investments 32,849 18,267 45,521
Impairment of goodwill 0 0 833,075
Technology asset charge 55,808 0 0
Net (gain) loss on business dispositions (273,134) 136,744 199,094
Other, net 45,787 71,063 31,430
Changes in operating assets and liabilities, net of the effects of business combinations:      
Accounts receivable (10,443) (78,647) (111,974)
Settlement processing assets and obligations, net 338,341 (345,898) (313,333)
Prepaid expenses and other assets (221,447) (289,826) (295,980)
Accounts payable and other liabilities 107,263 51,108 (17,157)
Net cash provided by operating activities 3,532,683 2,248,741 2,244,040
Cash flows from investing activities:      
Business combinations and other acquisitions, net of cash and restricted cash acquired (487,056) (4,225,610) (65,672)
Capital expenditures (674,917) (658,142) (615,652)
Issuance of notes receivable 0 (50,000) 0
Repayment of notes receivable 0 50,000 0
Net cash from sales of businesses 962,435 479,067 (29,755)
Proceeds from sales of investments 19,008 42,135 33,046
Other, net 6,639 1,438 2,496
Net cash used in investing activities (173,891) (4,361,112) (675,537)
Cash flows from financing activities:      
Net (repayments) borrowings from settlement lines of credit (442,713) 220,682 285,644
Net (repayments) borrowings from commercial paper notes (1,367,859) 1,367,859 0
Proceeds from long-term debt 9,635,049 10,336,850 9,812,289
Repayments of long-term debt (8,334,846) (9,099,938) (7,895,131)
Payments of debt issuance costs (33,056) (12,735) (48,635)
Repurchases of common stock (1,551,950) (418,272) (2,921,307)
Proceeds from stock issued under share-based compensation plans 43,009 60,345 44,127
Common stock repurchased - share-based compensation plans (56,229) (41,225) (38,601)
Purchase of subsidiary shares from noncontrolling interest (108,770) 0 0
Distributions to noncontrolling interests (38,086) (32,997) (23,031)
Proceeds and contributions from noncontrolling interests 4,044 26,205 0
Payment of deferred and contingent consideration in business combination (6,390) (5,222) (15,726)
Purchase of capped calls related to issuance of convertible notes (256,250) 0 (302,375)
Dividends paid (252,811) (260,431) (273,955)
Net cash (used in) provided by financing activities (2,766,858) 2,141,121 (1,376,701)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (112,834) 12,519 (99,219)
Increase in cash, cash equivalents and restricted cash 479,100 41,269 92,583
Cash, cash equivalents and restricted cash, beginning of the period 2,256,875 2,215,606 2,123,023
Cash, cash equivalents and restricted cash, end of the period $ 2,735,975 $ 2,256,875 $ 2,215,606

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