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SEC Filings

425
FIDELITY NATIONAL INFORMATION SERVICES, INC. filed this Form 425 on 05/13/2019
Entire Document
 


Worldpay, Inc.

CONSOLIDATED STATEMENTS OF CASH FLOWS

Unaudited

(In millions)

 

     Three Months Ended March 31,  
     2019     2018  

Operating Activities:

    

Net income (loss)

   $ 38.1     $ (98.3

Adjustments to reconcile net income to net cash provided by operating activities:

    

Depreciation and amortization expense

     264.4       207.2  

Amortization of customer incentives

     7.9       6.2  

Amortization and write-off of debt issuance costs

     2.1       59.9  

Gain on foreign currency forward

     —         (35.9

Share-based compensation expense

     33.0       17.2  

Deferred tax benefit

     (2.5     (25.3

Tax receivable agreements non-cash items

     (2.0     (3.6

Other

     23.8       30.4  

Change in operating assets and liabilities:

    

Accounts receivable

     (7.4     14.0  

Net settlement assets and obligations

     (136.6     (12.2

Prepaid and other assets

     4.9       (30.2

Accounts payable and accrued expenses

     (42.0     (17.1

Other liabilities

     (17.5     (28.2
  

 

 

   

 

 

 

Net cash provided by operating activities

     166.2       84.1  
  

 

 

   

 

 

 

Investing Activities:

    

Purchases of property and equipment

     (83.2     (34.1

Acquisition of customer portfolios and related assets and other

     (4.8     (37.1

Proceeds from foreign currency forward

     —         71.5  

Cash acquired in acquisitions, net of cash used

     —         1,405.8  
  

 

 

   

 

 

 

Net cash (used in) provided by investing activities

     (88.0     1,406.1  
  

 

 

   

 

 

 

Financing Activities:

    

Proceeds from issuance of long-term debt

     —         2,140.0  

Borrowings on revolving credit facility

     2,127.0       1,476.0  

Repayment of revolving credit facility

     (1,931.0     (1,701.0

Repayment of debt and finance lease obligations

     (582.3     (1,662.2

Payment of debt issuance costs

     —         (86.8

Proceeds from issuance of Class A common stock under employee stock plans

     7.0       7.6  

Repurchase of Class A common stock (to satisfy tax withholding obligations)

     (12.8     (11.2

Settlement and payments under certain tax receivable agreements

     (28.2     (80.9

Distributions to non-controlling interests

     (2.3     (5.6
  

 

 

   

 

 

 

Net cash (used in) provided by financing activities

     (422.6     75.9  
  

 

 

   

 

 

 

Net (decrease) increase in cash and cash equivalents

     (344.4     1,566.1  

Cash and cash equivalents—Beginning of period

     2,581.3       1,272.2  

Effect of exchange rate changes on cash

     10.1       31.1  
  

 

 

   

 

 

 

Cash and cash equivalents—End of period

   $ 2,247.0     $ 2,869.4  
  

 

 

   

 

 

 

Cash Payments:

    

Interest

   $ 59.3     $ 58.2  

Income taxes

     13.6       0.6  

Non-cash Items:

    

Issuance of tax receivable agreements

   $ 327.9     $ —    

See Notes to Unaudited Consolidated Financial Statements.

 

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