FLEETCOR Technologies, Inc
(NYSE:FLT)

FLEETCOR Technologies, Inc. provides digital payment solutions for businesses to control purchases and make payments. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timef...

Website: http://www.fleetcor.com

Founded: 2000

Full Time Employees: 8,000

Sector: Technology

Industry: Information Technology Services

Industrials Payment Service

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At a glance:

Bull Thesis:

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31

revenues	1,260,987,000	1,248,226,000	1,172,480,000	1,102,030,000	1,005,667,000	1,034,431,000	1,029,197,000	975,710,000	935,251,000	937,320,000	970,892,000	948,174,000	901,333,000	883,610,000	893,000,000	861,278,000	789,241,000	802,255,000	755,477,000	667,381,000	608,623,000	617,333,000	585,283,000	525,146,000	661,093,000	483,525,000	681,048,000	647,094,000	621,825,000	609,991,000	577,877,000	541,237,000	520,433,000	609,991,000	577,877,000	541,237,000	520,433,000	514,953,000	484,426,000	417,905,000	414,262,000	430,601,000	451,493,000	404,605,000	416,166,000	376,697,000	295,283,000	273,502,000	253,908,000	255,501,000	225,150,000	220,869,000	193,651,000	202,617,000	186,932,000	171,820,000	146,165,000	140,160,000	134,213,000	134,213,000	111,005,000
expenses:
processing	272,062,000	260,055,000	248,761,000	238,517,000	221,844,000	228,780,000	223,695,000	209,199,000	207,411,000	201,459,000	208,217,000	205,265,000	204,967,000	201,610,000	203,315,000	185,588,000	174,194,000	171,533,000	149,564,000	122,294,000	116,428,000	121,514,000	119,856,000	121,290,000	233,703,000	103,107,000	135,016,000	120,458,000	129,114,000	113,184,000	111,283,000	103,322,000	101,824,000	113,184,000	111,283,000	103,322,000	101,824,000	98,676,000	96,233,000	80,691,000	79,814,000	84,194,000	90,959,000	74,564,000	81,356,000	56,185,000	41,451,000	38,845,000	36,856,000	38,604,000	33,473,000	32,010,000	29,943,000	32,285,000	30,568,000	27,014,000	25,579,000	25,931,000	20,878,000	19,775,000	17,932,000
selling	148,207,000	138,026,000	117,628,000	115,777,000	107,557,000	97,514,000	94,160,000	95,044,000	94,188,000	86,199,000	85,954,000	86,412,000	81,592,000	78,864,000	74,005,000	79,324,000	76,889,000	75,607,000	71,204,000	63,225,000	52,082,000	47,737,000	46,762,000	42,374,000	55,859,000	29,686,000	51,790,000	51,856,000	49,261,000	47,863,000	45,060,000	38,957,000	38,837,000	47,863,000	45,060,000	38,957,000	38,837,000	38,763,000	34,180,000	31,947,000	26,553,000	28,064,000	27,383,000	27,297,000	26,331,000	22,642,000	17,950,000	17,521,000	17,414,000	18,397,000	13,859,000	13,386,000	11,704,000	13,190,000	12,790,000	10,274,000	10,175,000	10,332,000	9,484,000	9,003,000	7,787,000
general and administrative	203,799,000	220,464,000	178,611,000	176,994,000	156,959,000	158,176,000	153,659,000	153,777,000	151,262,000	141,545,000	147,839,000	159,356,000	154,684,000	143,873,000	149,294,000	147,446,000	143,522,000	140,675,000	121,785,000	115,008,000	108,362,000	90,961,000	90,868,000	86,739,000	106,110,000	91,554,000	98,050,000	106,784,000	92,784,000	112,599,000	92,054,000	87,587,000	95,454,000	112,648,000	92,043,000	87,569,000	95,434,000	74,541,000	77,904,000	63,586,000	67,594,000	100,938,000	64,439,000	63,041,000	69,297,000	83,659,000	40,947,000	37,896,000	43,461,000	50,509,000	31,559,000	30,954,000	29,261,000	31,256,000	31,219,000	23,824,000	23,823,000	25,047,000	19,729,000	22,074,000	17,915,000
depreciation and amortization	114,826,000	116,602,000	93,163,000	91,350,000	92,188,000	92,440,000	89,546,000	84,342,000	84,760,000	83,946,000	84,750,000	83,676,000	84,232,000	89,793,000	77,213,000	78,474,000	76,802,000	75,013,000	74,237,000	69,218,000	65,729,000	64,685,000	63,479,000	62,162,000	64,476,000	68,909,000	67,347,000	70,908,000	67,445,000	65,829,000	69,156,000	64,709,000	64,866,000	65,829,000	69,156,000	64,709,000	64,866,000	61,408,000	57,084,000	48,436,000	36,328,000	48,018,000	48,526,000	48,827,000	48,082,000	37,800,000	25,714,000	24,429,000	24,418,000	24,158,000	18,060,000	15,890,000	14,629,000	15,116,000	13,591,000	11,609,000	11,720,000	9,924,000	9,052,000	8,588,000	8,607,000
other operating	7,351,000	-9,134,000	11,197,000	2,000	-5,000	483,000	5,000	9,000	292,000	120,000	-845,000	815,000	663,000	20,500	3,000	-34,000	113,000	20,250		24,000	57,000	-120,500	-214,000	-230,000	-38,000	-370,000	-296,000	-229,000	-955,000					12,000	11,000	18,000	20,000		-244,000	-231,000	-215,000
gain on disposition	121,423,000
operating income	636,165,000	564,474,000	523,120,000	479,390,000	427,124,000	488,348,000	468,132,000	433,339,000	397,338,000	424,051,000	444,977,000	412,650,000	375,195,000	369,270,000	389,170,000	370,480,000	317,721,000	340,292,000	338,687,000	297,612,000	265,965,000	293,939,000	264,532,000	212,811,000	200,983,000	180,064,000	329,141,000	297,317,000	284,176,000	240,012,000	232,637,000	216,043,000	195,068,000	240,012,000	232,637,000	216,043,000	195,068,000	215,975,000	191,055,000	171,168,000	175,955,000	146,149,000	188,460,000	169,151,000	163,774,000	172,622,000	144,207,000	134,484,000	114,136,000	106,050,000	111,255,000	109,074,000	94,253,000	93,171,000	85,834,000	81,448,000	64,475,000	54,232,000	61,723,000	59,892,000	50,487,000
yoy	48.94%	15.59%	11.75%	10.63%	7.50%	15.16%	5.20%	5.01%	5.90%	14.83%	14.34%	11.38%	18.09%	8.52%	14.91%	24.48%	19.46%	15.77%	28.03%	39.85%	32.33%	63.24%	-19.63%	-28.42%	-29.28%	-24.98%	41.48%	37.62%	45.68%	0.00%	0.00%	0.00%	0.00%	11.13%	21.76%	26.22%	10.86%	47.78%	1.38%	1.19%	7.44%	-15.34%	30.69%	25.78%	43.49%	62.77%	29.62%	23.30%	21.10%	13.82%	29.62%	33.92%	46.19%	71.80%	39.06%	35.99%	27.71%
qoq	12.70%	7.91%	9.12%	12.24%	-12.54%	4.32%	8.03%	9.06%	-6.30%	-4.70%	7.83%	9.98%	1.60%	-5.11%	5.04%	16.61%	-6.63%	0.47%	13.80%	11.90%	-9.52%	11.12%	24.30%	5.89%	11.62%	-45.29%	10.70%	4.62%	18.40%	3.17%	7.68%	10.75%	-18.73%	3.17%	7.68%	10.75%	-9.68%	13.04%	11.62%	-2.72%	20.39%	-22.45%	11.42%	3.28%	-5.13%	19.70%	7.23%	17.83%	7.62%	-4.68%	2.00%	15.72%	1.16%	8.55%	5.39%	26.32%	18.89%	-12.14%	3.06%	18.63%
other expenses:
other expense	21,048,000	52,079,000	1,383,000	-10,572,000	4,095,000	6,200,000	-101,000	4,496,000	3,127,000	-1,513,000	-13,432,000	-2,424,000					869,000	175,000	1,532,000	408,000						-152,794,000	-120,000		220,000	190,000	-175,271,000	-551,000	2,196,000	190,000	-175,271,000	-551,000	2,196,000	1,926,000	293,000	104,000	659,000	178,000	-168,000	653,000
interest expense	110,100,000	113,019,000	100,035,000	96,872,000	93,922,000	94,837,000	104,441,000	94,677,000	89,088,000	92,041,000	88,285,000	88,486,000	79,795,000	74,152,000	45,410,000	23,070,000	22,030,000	21,436,000	29,033,000	34,685,000	28,551,000	30,329,000	31,383,000	32,412,000	35,679,000	23,406,000	36,504,000	39,529,000	39,055,000	30,824,000	29,344,000	23,851,000	23,127,000	30,824,000	29,344,000	23,851,000	23,127,000	21,991,000	17,814,000	15,900,000	16,191,000	16,521,000	17,163,000	18,089,000	19,566,000	13,228,000	4,859,000	5,308,000	5,461,000	5,501,000	3,756,000	3,756,000	3,448,000	3,390,000	3,246,000	2,818,000	3,563,000	3,433,000	3,130,000	3,451,000	3,363,000
loss on extinguishment of debt					1,596,000		5,040,000																								3,296,000				3,296,000
total other expenses	131,148,000	71,832,750	101,418,000	86,300,000	99,613,000	75,258,500	109,849,000
income before income taxes	505,017,000	399,376,000	421,702,000	393,090,000	327,511,000	387,338,000	358,283,000	334,202,000	305,290,000	333,497,000	370,094,000	326,570,000	294,844,000	297,439,000	339,898,000	343,653,000	294,670,000	302,487,000	308,122,000	262,519,000	235,680,000	263,188,000	235,410,000	211,628,000	172,299,000	315,867,000	292,757,000	257,260,000	229,241,000	208,331,000	327,502,000	190,389,000	167,368,000	208,331,000	327,502,000	190,389,000	167,368,000	153,455,000	170,204,000	162,348,000					139,648,000				108,131,000												47,158,000
provision for income taxes	151,303,000	133,760,000	143,323,000	109,012,000	83,636,000	141,334,000	82,021,000	82,539,000	75,487,000	77,640,000	98,598,000	86,868,000					76,718,000	77,483,000	74,115,000	66,272,000						163,947,000	66,952,000		57,134,000	-74,366,000	124,679,000	59,402,000	43,675,000	-74,366,000	124,679,000	59,402,000	43,675,000	58,031,000	40,586,000	48,163,000	46,940,000	32,878,000	48,587,000	46,613,000
net income	353,714,000	265,616,000	278,379,000	284,078,000	243,875,000	246,004,000	276,262,000	251,663,000	229,803,000	255,857,000	271,496,000	239,702,000	214,835,000	225,319,000	248,885,000	262,171,000	217,952,000	225,004,000	234,007,000	196,247,000	184,239,000	209,851,000	188,817,000	158,488,000	147,060,000	151,920,000	225,805,000	261,651,000	172,107,000	282,697,000	202,823,000	130,987,000	123,693,000	282,697,000	202,823,000	130,987,000	123,693,000	95,424,000	129,618,000	114,185,000	109,972,000	52,830,000	116,770,000	98,678,000	94,153,000	109,540,000	95,509,000	88,549,000	75,109,000	68,120,000	78,620,000	73,099,000	64,662,000	60,071,000	59,648,000	54,401,000	42,079,000	37,772,000	40,514,000	36,715,000	32,335,000
yoy	45.04%	7.97%	0.77%	12.88%	6.12%	-3.85%	1.76%	4.99%	6.97%	13.55%	9.08%	-8.57%	-1.43%	0.14%	6.36%	33.59%	18.30%	7.22%	23.93%	23.82%	25.28%	38.13%	-16.38%	-39.43%	-14.55%	-46.26%	11.33%	99.75%	39.14%	0.00%	0.00%	0.00%	0.00%	196.25%	56.48%	14.71%	12.48%	80.62%	11.00%	15.71%	16.80%	-51.77%	22.26%	11.44%	25.36%	60.80%	21.48%	21.14%	16.16%	13.40%	31.81%	34.37%	53.67%	59.04%	47.23%	48.17%	30.13%
qoq	33.17%	-4.58%	-2.01%	16.49%	-0.87%	-10.95%	9.77%	9.51%	-10.18%	-5.76%	13.26%	11.57%	-4.65%	-9.47%	-5.07%	20.29%	-3.13%	-3.85%	19.24%	6.52%	-12.20%	11.14%	19.14%	7.77%	-3.20%	-32.72%	-13.70%	52.03%	-39.12%	39.38%	54.84%	5.90%	-56.25%	39.38%	54.84%	5.90%	29.62%	-26.38%	13.52%	3.83%	108.16%	-54.76%	18.33%	4.81%	-14.05%	14.69%	7.86%	17.89%	10.26%	-13.36%	7.55%	13.05%	7.64%	0.71%	9.65%	29.28%	11.40%	-6.77%	10.35%	13.55%
less: net income attributable to noncontrolling interest	3,648,000	247,500	438,000	-90,000	642,000	-15,750	-135,000	38,000	34,000
net income attributable to corpay	350,066,000	264,484,000	277,941,000	284,168,000	243,233,000	245,955,000	276,397,000	251,625,000	229,769,000
earnings per share:
basic earnings per share attributable to corpay*	5.14
diluted earnings per share attributable to corpay*	5.07
weighted-average shares outstanding:
basic shares	67,541	-256	70,318	70,546	70,316	-129	69,518	70,107	71,769	-368	73,165	73,887	73,521	-713	74,461	76,769	77,737	-751	81,836	83,141	83,475	-165	83,719	83,895	84,902	2,418	86,662	86,360	85,941	-490	90,751	92,013	92,108	-490	90,751	92,013
diluted shares	68,443	-315	71,131	71,429	71,558	-128	70,901	71,497	73,545	-346	74,604	75,001	74,483	-825	75,558	78,239	79,286	-856	83,716	85,295	85,764	-287	86,273	86,570	88,205	2,175	90,522	90,131	89,244	-329	93,001	94,223	94,560	-329	93,001	94,223
basic earnings per share attributable to corpay		2.86	3.95	4.03	3.46	3.52	3.98	3.59	3.2
diluted earnings per share attributable to corpay		2.82	3.91	3.98	3.4	3.44	3.9	3.52	3.12
investment loss						-27,000	469,000	-36,000		26,000	30,000	18,000					152,000								2,371,000	-8,513,000			15,660,000	667,000	47,766,000	2,354,000	2,377,000	667,000	47,766,000
total other expense								99,137,000	92,048,000	90,554,000	74,883,000	86,080,000					23,051,000	37,805,000	30,565,000	35,093,000						-135,803,000	36,384,000		54,935,000	31,681,000	-94,865,000	25,654,000	27,700,000	31,681,000	-94,865,000	25,654,000	27,700,000	62,520,000	20,851,000	8,820,000	19,043,000	60,441,000	23,103,000	23,860,000
investment gain									-167,000					863,000	174,000	193,000						-7,502,000	1,330,000
basic earnings per share										3.55	3.71	3.24	2.92	3.07	3.34	3.42	2.8	2.81	2.86	2.36	2.21	2.51	2.26	1.89	1.73	1.5	2.61	3.03	2	3.13	2.23	1.42	1.34	3.13	2.23	1.42	1.34	1.04	1.4	1.23	1.19	0.57	1.27	1.07	1.03	1.25	1.14	1.07	0.91	0.83	0.96	0.9	0.8	0.71	0.71	0.65	0.51	0.47	0.5	0.46	0.4
diluted earnings per share										3.48	3.64	3.2	2.88	3.04	3.29	3.35	2.75	2.75	2.8	2.3	2.15	2.44	2.19	1.83	1.67	1.48	2.49	2.9	1.93	3.04	2.18	1.39	1.31	3.04	2.18	1.39	1.31	1	1.36	1.21	1.17	0.56	1.24	1.05	1	1.22	1.11	1.03	0.88	0.8	0.93	0.87	0.77	0.7	0.69	0.63	0.49	0.45	0.48	0.44	0.39
other incomes:
investment (gain) loss													-190,000								-9,000			-33,709,000
other income													746,000	-3,184,000	3,688,000	3,564,000					1,743,000	-2,619,250	-3,591,000	2,480,000	-9,366,000			528,000																	1,860,000	-1,570,000	594,000	-268,000	544,000	472,000	-156,000	-6,000	292,000	602,000	-3,000	-66,000	588,000	19,000	-518,000	-56,000
total other income													80,351,000	71,831,000	49,272,000	26,827,000					30,285,000	14,747,250	29,122,000	1,183,000	28,684,000			40,057,000																	24,126,000	32,319,000	7,653,000	6,529,000	6,005,000	5,973,000	3,600,000	3,750,000	3,740,000	3,992,000	3,243,000	2,752,000	4,151,000	3,452,000	2,612,000	6,064,000	3,329,000
benefit from income taxes													80,009,000	72,120,000	91,013,000	81,482,000					51,441,000	31,243,000	46,593,000	53,140,000	25,239,000																				45,495,000	30,763,000	41,045,000	39,406,000	33,022,000	31,957,000	29,035,000	32,225,000		29,108,000	22,943,000	24,295,000					14,823,000
(benefit from) benefit from income taxes																												-4,391,000
merchant commissions																														30,443,000	27,687,000	30,619,000	24,384,000	30,443,000	27,687,000	30,619,000	24,384,000	25,590,000	28,214,000	22,308,000	28,233,000	27,480,000	31,726,000	21,725,000	27,326,000	33,290,000	25,014,000	20,327,000	17,623,000	17,783,000	16,944,000	19,555,000	13,861,000	17,599,000	12,930,000	17,651,000	10,393,000	14,694,000	13,347,000	14,881,000	8,277,000
equity method investment loss																																				2,354,000	2,377,000	38,603,000	2,744,000	-7,184,000	2,193,000	43,742,000	6,108,000	5,118,000	2,700,000	4,897,000	2,200,000	1,489,000
basic weighted-average shares outstanding																																					92,108	92,597	92,631	92,665	92,516	92,023	92,110	91,904	91,750	84,317	83,611	82,996	82,737	81,793	81,974	81,573	81,222	83,328	84,002	83,294	82,565	80,610	80,819	80,151	79,937
diluted weighted-average shares outstanding																																					94,560	95,213	95,307	94,549	94,329	94,139	94,157	94,050	93,934	86,982	86,134	85,817	85,695	84,655	84,905	84,461	83,960	85,736	86,224	85,737	85,164	83,654	83,649	83,548	83,378
income before taxes																																									156,912,000	112,574,000	165,357,000	145,291,000		93,160,000	136,554,000	127,955,000		75,873,000	107,655,000	105,324,000	90,513,000	55,402,750	82,591,000	78,696,000	60,324,000	40,024,250	59,111,000	53,828,000
benefit from taxes																																																					25,851,000				18,245,000	12,633,500	18,597,000	17,113,000
loss on early extinguishment of debt																																																												2,669,000
calculation of income attributable to common shareholders:
convertible preferred stock accrued dividends
income attributable to common shareholders for basic earnings per share																																																										37,772	40,514	36,715	32,335
other (income) loss																																																													-34,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31

assets
current assets:
cash and cash equivalents	2,536,812,000	2,408,097,000	2,005,508,000	2,192,849,000	1,554,835,000	1,553,642,000	1,303,464,000	1,357,567,000	1,311,949,000	1,389,648,000	1,094,234,000	1,254,243,000	1,272,456,000	1,435,163,000	1,317,544,000	1,423,060,000	1,298,226,000	1,520,027,000	1,271,000,000	1,301,207,000	958,322,000	934,900,000	788,854,000	765,789,000	1,070,681,000	1,031,145,000	1,031,145,000	1,031,145,000	913,595,000	913,595,000	913,595,000	913,595,000	913,595,000	834,756,000	564,578,000	546,560,000	475,018,000	405,435,000	493,085,000	399,318,000	447,152,000	422,390,000	384,175,000	379,393,000	477,069,000	304,109,000	297,642,000	283,374,000	338,105,000	345,689,000	292,905,000	224,613,000	283,649,000	300,061,000	255,579,000	287,119,000	285,159,000	137,284,000	101,200,000	119,779,000	114,804,000
restricted cash	6,279,515,000	6,583,843,000	2,908,885,000	3,338,509,000	2,828,588,000	2,902,703,000	2,851,547,000	2,189,729,000	1,890,727,000	1,751,887,000	1,221,279,000	1,456,992,000	996,945,000	854,017,000	983,336,000	933,373,000	791,212,000	730,668,000	737,937,000	758,096,000	473,200,000	541,719,000	582,006,000	425,557,000	481,555,000	333,748,000	333,748,000	333,748,000	217,275,000	217,275,000	217,275,000	217,275,000	217,275,000	183,515,000	201,039,000	188,433,000	168,752,000	199,319,000	156,014,000	145,235,000	167,492,000	129,446,000	129,354,000	129,562,000	135,144,000	42,348,000	46,153,000	46,840,000	48,244,000	50,008,000	48,474,000	49,347,000	53,674,000	52,186,000	50,127,000	57,209,000	55,762,000	57,399,000	63,008,000	66,319,000	62,341,000
accounts and other receivables	2,630,917,000	2,145,679,000	2,657,279,000	2,601,292,000	2,546,819,000	2,090,500,000	2,639,473,000	2,412,011,000	2,376,003,000	2,161,586,000	2,655,275,000	2,460,650,000	2,369,235,000	2,064,745,000	2,184,629,000	2,448,585,000	2,304,643,000	1,793,274,000	2,071,523,000	1,787,155,000	1,590,624,000	1,366,775,000	1,552,695,000	1,279,343,000	1,338,056,000	1,425,815,000	1,425,815,000	1,425,815,000	1,420,011,000	1,420,011,000	1,420,011,000	1,420,011,000	1,420,011,000	1,456,255,000	1,429,563,000		1,202,009,000
securitized accounts receivable—restricted for securitization investors	2,144,000,000	1,823,000,000	1,755,000,000	1,639,000,000	1,469,000,000	1,323,000,000	1,314,000,000	1,409,000,000	1,421,000,000	1,307,000,000	1,396,000,000	1,248,000,000	1,284,000,000	1,287,000,000	1,482,000,000	1,600,000,000	1,436,000,000	1,118,000,000	1,098,000,000	1,000,000,000	915,000,000	700,000,000	688,000,000	654,000,000	819,000,000	886,000,000	886,000,000	886,000,000	811,000,000	811,000,000	811,000,000	811,000,000	811,000,000	794,000,000	741,000,000	676,000,000	591,000,000	656,000,000	713,000,000	551,000,000	614,000,000	665,000,000	764,000,000	679,000,000	675,000,000	393,600,000	424,400,000	393,500,000	349,000,000	394,000,000	402,000,000	385,000,000	298,000,000	355,000,000	325,000,000	341,000,000	280,000,000	150,000,000	162,000,000	154,000,000	144,000,000
prepaid expenses and other current assets	1,045,865,000	1,002,621,000	781,482,000	987,593,000	678,319,000	806,024,000	606,199,000	528,798,000	437,687,000	474,144,000	493,470,000	503,684,000	436,336,000	465,227,000	618,559,000	418,451,000	346,165,000	326,079,000	345,831,000	407,685,000	348,227,000	412,924,000	359,461,000	339,380,000	419,720,000	199,278,000	199,278,000	199,278,000	187,820,000	187,820,000	187,820,000	187,820,000	187,820,000	252,975,000	109,178,000	110,265,000	90,914,000	80,837,000	73,355,000	70,251,000	68,661,000	51,669,000	57,857,000	70,198,000	74,889,000	45,512,000	61,917,000	60,684,000	40,062,000	32,988,000	27,122,000	24,932,000	28,126,000	25,608,000	17,505,000	17,305,000	15,416,000	18,126,000	36,850,000	36,226,000	33,191,000
total current assets	14,637,109,000	13,963,240,000	10,108,154,000	10,759,243,000	9,077,561,000	8,675,869,000	8,780,948,000	7,975,697,000	7,437,366,000	7,084,265,000	6,860,258,000	6,923,569,000	6,358,972,000	6,106,152,000	6,586,068,000	6,823,469,000	6,176,246,000	5,488,048,000	5,524,291,000	5,254,143,000	4,285,373,000	3,956,318,000	3,971,016,000	3,464,069,000	4,129,012,000	3,875,986,000	3,875,986,000	3,875,986,000	3,549,701,000	3,549,701,000	3,549,701,000	3,549,701,000	3,549,701,000	3,521,501,000	3,045,358,000	2,882,091,000	2,527,693,000	2,685,156,000	2,350,945,000	2,054,581,000	1,945,172,000	2,033,543,000	2,201,006,000	2,109,265,000	2,137,350,000	1,504,675,000	1,523,054,000	1,471,409,000	1,353,512,000	1,490,524,000	1,405,818,000	1,318,066,000	1,195,354,000	1,317,969,000	1,198,317,000	1,306,780,000	1,122,925,000	786,933,000	755,272,000	759,869,000	618,983,000
property and equipment	468,544,000	472,310,000	453,101,000	434,319,000	401,523,000	377,705,000	378,424,000	357,759,000	351,831,000	343,154,000	329,992,000	329,146,000	310,390,000	294,692,000	272,589,000	260,588,000	254,432,000	236,294,000	220,643,000	216,681,000	200,161,000	202,509,000	189,953,000	185,599,000	183,229,000	186,201,000	186,201,000	186,201,000	180,057,000	180,057,000	180,057,000	180,057,000	180,057,000	168,065,000	154,278,000	271,534,000	253,361,000	251,394,000	189,665,000	177,167,000	163,569,000	154,987,000	146,978,000	137,608,000	135,062,000	127,340,000	125,195,000	118,458,000	111,100,000	108,288,000	101,373,000	97,104,000	93,902,000	117,008,000	101,875,000	99,479,000	93,380,000	90,435,000	90,770,000	87,411,000	83,013,000
goodwill	7,340,980,000	7,564,822,000	6,337,077,000	6,334,018,000	6,191,687,000	5,984,667,000	5,927,838,000	5,545,966,000	5,673,732,000	5,644,958,000	5,553,546,000	5,473,603,000	5,380,050,000	5,201,435,000	5,068,954,000	5,076,364,000	5,180,832,000	5,078,978,000	5,102,263,000	5,058,174,000	4,693,469,000	4,719,181,000	4,613,597,000	4,582,250,000	4,583,881,000	4,542,074,000	4,542,074,000	4,542,074,000	4,715,823,000	4,715,823,000	4,715,823,000	4,715,823,000	4,715,823,000	4,644,559,000	4,212,523,000	4,227,472,000	4,195,150,000	4,183,981,000	3,557,446,000	3,564,211,000	3,546,034,000	3,712,326,000	3,767,071,000	3,761,378,000	3,811,862,000	1,557,011,000	1,572,930,000	1,561,530,000	1,552,725,000	1,241,969,000	994,648,000	973,335,000	926,609,000	923,715,000	775,749,000	763,487,000	823,549,000	642,799,000	602,802,000	602,017,000	601,666,000
other intangibles	3,057,608,000	3,237,729,000	2,310,995,000	2,372,305,000	2,407,556,000	2,410,442,000	2,152,599,000	1,956,855,000	2,033,106,000	2,085,663,000	2,164,999,000	2,107,081,000	2,197,587,000	2,130,974,000	2,169,232,000	2,220,246,000	2,314,338,000	2,335,385,000	2,369,457,000	2,265,574,000	2,050,919,000	2,115,882,000	2,115,189,000	2,121,304,000	2,169,742,000	2,407,910,000	2,407,910,000	2,407,910,000	2,724,957,000	2,724,957,000	2,724,957,000	2,724,957,000	2,724,957,000	2,876,440,000	2,562,326,000	2,633,651,000	2,653,233,000	2,758,877,000	2,112,238,000	2,155,157,000	2,183,595,000	2,270,524,000	2,338,148,000	2,369,922,000	2,437,367,000	865,116,000	848,635,000	860,898,000	871,263,000	643,938,000	515,702,000	502,103,000	463,864,000	465,785,000	408,731,000	373,412,000	299,460,000	234,135,000	185,593,000	190,066,000	193,861,000
investments	586,698,000	601,942,000	58,679,000	58,319,000	62,674,000	60,088,000	64,606,000	64,039,000	68,299,000	69,521,000	67,964,000	69,721,000	67,587,000	74,281,000	74,349,000	67,067,000	71,062,000	52,016,000	11,857,000	11,857,000	11,857,000	7,480,000	7,480,000	61,773,000	28,068,000	42,674,000	42,674,000	42,674,000	32,859,000	32,859,000	32,859,000	32,859,000	32,859,000	33,526,000	40,845,000	40,763,000
other assets	573,851,000	568,092,000	476,831,000	477,022,000	406,779,000	448,260,000	333,996,000	296,219,000	265,797,000	248,691,000	287,708,000	275,533,000	273,337,000	281,726,000	314,832,000	262,481,000	224,503,000	213,932,000	225,872,000	220,454,000	185,695,000	193,209,000	196,764,000	211,722,000	216,218,000	147,632,000	147,632,000	147,632,000	114,962,000	114,962,000	114,962,000	114,962,000	114,962,000	86,203,000	86,381,000	76,940,000	71,952,000	63,837,000	66,853,000	69,650,000	59,739,000	67,704,000	73,477,000	68,007,000	72,431,000	93,942,000	89,863,000	87,989,000	100,779,000	49,877,000	50,267,000	50,988,000	90,847,000	88,110,000	86,215,000	83,010,000	45,834,000	45,310,000	47,443,000	43,172,000	42,790,000
total assets	26,664,790,000	26,408,135,000	19,744,837,000	20,435,226,000	18,547,780,000	17,957,031,000	17,638,411,000	16,196,535,000	15,830,131,000	15,476,252,000	15,264,467,000	15,178,653,000	14,587,923,000	14,089,260,000	14,486,024,000	14,710,215,000	14,221,413,000	13,404,653,000	13,454,383,000	13,026,883,000	11,427,474,000	11,194,579,000	11,093,999,000	10,626,717,000	11,310,150,000	11,202,477,000	11,202,477,000	11,202,477,000	11,318,359,000	11,318,359,000	11,318,359,000	11,318,359,000	11,318,359,000	11,330,294,000	10,101,711,000	10,009,954,000	9,626,732,000	9,916,054,000	8,268,708,000	8,011,830,000	7,891,868,000	8,285,133,000	8,574,671,000	8,504,724,000	8,674,506,000	4,224,440,000	4,253,365,000	4,036,717,000	3,932,235,000	3,475,105,000	3,013,089,000	2,890,384,000	2,721,870,000	2,842,121,000	2,504,689,000	2,560,916,000	2,324,492,000	1,739,543,000	1,618,909,000	1,622,221,000	1,484,118,000
liabilities and equity
current liabilities:
accounts payable	2,100,756,000	1,564,548,000	1,966,464,000	1,974,528,000	1,811,737,000	1,570,426,000	1,825,725,000	1,902,909,000	1,849,958,000	1,624,995,000	1,895,280,000	1,679,702,000	1,907,841,000	1,568,942,000	1,693,988,000	2,014,962,000	1,957,054,000	1,406,350,000	1,726,705,000	1,578,266,000	1,348,983,000	1,054,478,000	1,297,236,000	1,096,303,000	1,058,713,000	1,117,649,000	1,117,649,000	1,117,649,000	1,437,314,000	1,437,314,000	1,437,314,000	1,437,314,000	1,437,314,000	1,435,585,000	1,240,766,000	1,246,182,000	1,151,432,000	1,230,339,000	904,151,000	796,803,000	669,528,000	760,413,000	815,544,000	775,929,000	716,676,000	612,691,000	573,482,000	578,507,000	467,202,000	567,420,000	528,161,000	501,036,000	418,609,000	533,113,000	474,837,000	534,111,000	478,882,000	241,423,000	234,873,000	250,765,000	177,644,000
accrued expenses	614,395,000	606,600,000	533,680,000	450,207,000	412,359,000	444,938,000	434,571,000	367,753,000	408,661,000	356,118,000	393,439,000	392,652,000	404,942,000	351,936,000	389,953,000	348,301,000	376,370,000	369,054,000	327,271,000	290,120,000	278,663,000	282,681,000	299,396,000	244,068,000	250,232,000	261,594,000	261,594,000	261,594,000	238,472,000	238,472,000	238,472,000	238,472,000	238,472,000	285,841,000	206,073,000	213,999,000	238,812,000	206,386,000	160,566,000	185,505,000	150,677,000	178,974,000	160,983,000	151,974,000	178,375,000	109,258,000	124,027,000	111,275,000	114,870,000	69,054,000	65,865,000	61,383,000	75,812,000	60,697,000	34,857,000	40,237,000	42,242,000	29,192,000	51,641,000	59,002,000	49,176,000
customer deposits	7,852,839,000	8,118,566,000	3,501,046,000	4,143,205,000	3,228,068,000	3,266,126,000	3,204,612,000	2,763,554,000	2,534,349,000	2,397,279,000	1,783,311,000	2,013,236,000	1,481,004,000	1,505,004,000	1,599,853,000	1,685,261,000	1,586,979,000	1,788,705,000	1,533,145,000	1,570,190,000	1,118,965,000	1,175,322,000	1,123,974,000	887,601,000	906,065,000	926,685,000	926,685,000	926,685,000	732,171,000	732,171,000	732,171,000	732,171,000	732,171,000	731,501,000	688,574,000	589,387,000	530,787,000	595,405,000	503,112,000	471,109,000	507,233,000	461,958,000	456,693,000	451,588,000	492,257,000	180,131,000	193,604,000	174,683,000	182,541,000	177,511,000	158,459,000	170,035,000	187,627,000	177,952,000	170,640,000	174,975,000	180,269,000	168,259,000	78,231,000	81,016,000	78,685,000
securitization facility	2,144,000,000	1,823,000,000	1,755,000,000	1,639,000,000	1,469,000,000	1,323,000,000	1,314,000,000	1,409,000,000	1,421,000,000	1,307,000,000	1,396,000,000	1,248,000,000	1,284,000,000	1,287,000,000	1,482,000,000	1,600,000,000	1,436,000,000	1,118,000,000	1,098,000,000	1,000,000,000	915,000,000	700,000,000	688,000,000	654,000,000	819,000,000	886,000,000	886,000,000	886,000,000	811,000,000	811,000,000	811,000,000	811,000,000	811,000,000	794,000,000	741,000,000	676,000,000	591,000,000	656,000,000	713,000,000	551,000,000	614,000,000	665,000,000	764,000,000	679,000,000	675,000,000	393,600,000	424,400,000	393,500,000	349,000,000	394,000,000	402,000,000	385,000,000	298,000,000	355,000,000	325,000,000	341,000,000	280,000,000	150,000,000	162,000,000	154,000,000	144,000,000
current portion of notes payable and lines of credit	1,609,770,000	1,522,530,000	546,280,000	609,617,000	785,918,000	1,446,974,000	1,177,148,000	1,106,744,000	480,433,000	819,749,000	949,803,000	823,231,000	813,066,000	1,027,056,000	994,088,000	508,108,000	490,983,000	399,628,000	803,397,000	346,080,000	449,165,000	505,697,000	645,769,000	591,178,000	1,094,470,000	1,184,616,000	1,184,616,000	1,184,616,000	805,512,000	805,512,000	805,512,000	805,512,000	805,512,000	808,507,000	702,444,000		745,506,000		111,158,000	191,128,000	261,647,000	336,624,000	482,342,000	657,108,000	749,764,000	526,345,000	596,749,000	532,868,000	662,439,000	260,890,000
other current liabilities	667,517,000	661,433,000	609,800,000	823,212,000	529,588,000	656,417,000	385,582,000	283,083,000	256,527,000	320,612,000	320,386,000	279,069,000	312,692,000	303,517,000	478,283,000	275,263,000	244,542,000	208,614,000	177,752,000	195,762,000	203,202,000	250,133,000	141,432,000	153,818,000	331,596,000	118,669,000	118,669,000	118,669,000	71,033,000	71,033,000	71,033,000	71,033,000	71,033,000	117,464,000	40,169,000	43,389,000	38,781,000	39,080,000	40,303,000	42,469,000	44,936,000	38,290,000	42,038,000	40,680,000	84,546,000	106,665,000	115,726,000	119,260,000	132,846,000	128,085,000
total current liabilities	14,989,277,000	14,296,677,000	8,912,270,000	9,639,769,000	8,236,670,000	8,707,881,000	8,349,672,000	7,842,547,000	6,950,928,000	6,825,753,000	6,738,219,000	6,435,890,000	6,203,545,000	6,043,455,000	6,638,165,000	6,431,895,000	6,091,928,000	5,290,351,000	5,666,270,000	4,980,418,000	4,313,978,000	3,968,311,000	4,195,807,000	3,626,968,000	4,460,076,000	4,495,213,000	4,495,213,000	4,495,213,000	4,095,502,000	4,095,502,000	4,095,502,000	4,095,502,000	4,095,502,000	4,172,898,000	3,619,026,000	3,500,665,000	3,296,318,000	3,454,973,000	2,432,290,000	2,238,014,000	2,248,021,000	2,441,259,000	2,721,600,000	2,756,279,000	2,896,618,000	1,928,690,000	2,027,988,000	1,910,093,000	1,908,898,000	1,596,960,000	1,300,576,000	1,239,829,000	1,142,222,000	1,355,401,000	1,135,207,000	1,269,682,000	1,121,747,000	604,117,000	541,988,000	555,917,000	461,122,000
notes payable and other obligations, less current portion	6,606,870,000	6,656,157,000	5,821,672,000	5,869,083,000	5,916,485,000	5,226,106,000	5,271,596,000	4,817,634,000	4,862,621,000	4,596,156,000	4,637,211,000	4,678,258,000	4,700,550,000	4,722,838,000	4,745,122,000	4,767,545,000	4,416,356,000		3,789,981,000	3,732,701,000	3,081,955,000	3,126,926,000	3,158,810,000	3,202,463,000	3,246,241,000	2,748,431,000	2,748,431,000	2,748,431,000	2,902,104,000	2,902,104,000	2,902,104,000	2,902,104,000	2,902,104,000	2,933,976,000	2,394,621,000	2,460,629,000	2,521,727,000	2,552,357,000	2,007,918,000	2,032,905,000	2,061,415,000	2,086,664,000	2,112,245,000	2,139,704,000	2,168,953,000	434,820,000	450,207,000	459,916,000	474,939,000	479,082,000	485,997,000	491,988,000	485,217,000	278,863,000	285,950,000	274,883,000	278,429,000	281,481,000	285,291,000	317,287,000	313,796,000
deferred income taxes	595,880,000	614,345,000	371,959,000	379,240,000	431,022,000	439,176,000	462,418,000	445,207,000	473,250,000	470,232,000	548,943,000	538,832,000	544,682,000	527,465,000	571,448,000	566,434,000	588,664,000	566,291,000	564,445,000	565,856,000	501,302,000	498,154,000	506,102,000	501,231,000	486,551,000	491,946,000	491,946,000	491,946,000	518,912,000	518,912,000	518,912,000	518,912,000	518,912,000	742,498,000	637,162,000	666,572,000		8,879,000	7,106,000	7,969,000	8,913,000	33,081,000	54,143,000	77,638,000	101,451,000	3,444,000	4,415,000	4,258,000	4,750,000	5,938,000	7,642,000	7,710,000	6,464,000	6,296,000	4,310,000	4,337,000	4,797,000	4,594,000	4,414,000	4,594,000	4,484,000
other noncurrent liabilities	609,261,000	612,279,000	519,804,000	579,955,000	469,521,000	437,879,000	440,587,000	315,554,000	261,062,000	301,752,000	280,643,000	262,237,000	257,286,000	254,009,000	304,237,000	256,672,000	220,049,000		258,702,000	259,061,000	233,740,000	245,777,000	295,530,000	329,621,000	321,053,000	126,707,000	126,707,000	126,707,000	125,319,000	125,319,000	125,319,000	125,319,000	125,319,000	50,504,000	45,402,000	40,276,000	56,069,000	37,982,000	40,665,000	39,738,000	38,957,000	34,768,000	39,687,000	34,186,000	40,629,000	68,428,000	53,666,000	52,462,000	55,001,000
total noncurrent liabilities	7,812,011,000	7,882,781,000	6,713,435,000	6,828,278,000	6,817,028,000	6,103,161,000	6,174,601,000	5,578,395,000	5,596,933,000	5,368,140,000	5,466,797,000	5,479,327,000	5,502,518,000	5,504,312,000	5,620,807,000	5,590,651,000	5,225,069,000	5,247,722,000	4,613,128,000	4,557,618,000	3,816,997,000	3,870,857,000	3,960,442,000	4,033,315,000	4,053,845,000	3,367,084,000	3,367,084,000	3,367,084,000	3,546,335,000	3,546,335,000	3,546,335,000	3,546,335,000	3,546,335,000	3,726,978,000	3,077,185,000	3,167,477,000	3,246,376,000	3,282,560,000	2,753,713,000	2,786,047,000	2,813,800,000	2,881,303,000	2,946,067,000	2,968,271,000	3,024,751,000	736,943,000	749,857,000	760,444,000	779,444,000	704,243,000	662,499,000	667,542,000	665,826,000	451,652,000	427,562,000	408,193,000	391,309,000	373,602,000	363,891,000	398,637,000	397,051,000
commitments and contingencies
redeemable noncontrolling interest	308,000,000	302,000,000
stockholders’ equity:
common stock, 0.001 par value...	132,000	132,000	132,000	132,000	132,000	131,000	130,000	130,000	130,000	129,000	129,000	128,000	128,000	128,000	128,000	128,000	127,000	127,000	127,000	127,000	127,000	126,000	126,000	126,000	125,000	123,000	123,000	123,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	122,000	121,000	121,000	121,000	121,000	121,000	120,000	120,000	120,000	120,000	120,000	118,000	118,000	117,000	117,000	117,000	116,000	116,000	116,000	115,000	114,000	114,000	113,000	112,000	112,000
additional paid-in capital	4,009,290,000	3,970,077,000	3,937,515,000	3,902,867,000	3,850,115,000	3,811,131,000	3,531,445,000	3,418,512,000	3,382,001,000	3,266,185,000	3,227,476,000	3,176,562,000	3,109,065,000	3,049,570,000	3,001,687,000	2,964,235,000	2,920,192,000	2,878,751,000	2,850,143,000	2,821,453,000	2,794,991,000	2,749,900,000	2,713,022,000	2,690,966,000	2,657,169,000	2,306,843,000	2,306,843,000	2,306,843,000	2,214,224,000	2,214,224,000	2,214,224,000	2,214,224,000	2,214,224,000	2,165,326,000	2,136,913,000	2,114,560,000	2,074,094,000	2,057,562,000	2,032,687,000	2,005,608,000	1,988,917,000	1,935,262,000	1,899,688,000	1,878,383,000	1,852,442,000	733,131,000	676,876,000	662,917,000	631,667,000	601,577,000	574,602,000	557,279,000	542,018,000	525,056,000	500,331,000	486,657,000	466,203,000	449,294,000	436,130,000	427,849,000	421,991,000
retained earnings	10,611,840,000	10,264,751,000	10,001,747,000	9,723,806,000	9,439,638,000	9,196,405,000	8,950,450,000	8,674,053,000	8,422,428,000	8,192,659,000	7,936,802,000	7,665,306,000	7,425,604,000	7,210,769,000	6,985,450,000	6,736,565,000	6,474,394,000	6,256,442,000	6,031,438,000	5,797,431,000	5,601,184,000	5,416,945,000	5,207,094,000	5,018,277,000	4,859,789,000	3,817,656,000	3,817,656,000	3,817,656,000	2,958,921,000	2,958,921,000	2,958,921,000	2,958,921,000	2,958,921,000	2,676,224,000	2,473,401,000	2,342,414,000	2,218,721,000	2,123,297,000	1,990,492,000	1,876,308,000	1,766,336,000	1,713,506,000	1,596,736,000	1,498,058,000	1,403,905,000	1,294,365,000	1,198,856,000	1,110,307,000	1,035,198,000	967,078,000	888,458,000	815,359,000	750,697,000	690,626,000	630,978,000	576,577,000	534,498,000	496,726,000	456,212,000	419,498,000	387,163,000
accumulated other comprehensive loss	-1,358,886,000	-1,392,154,000	-1,410,151,000	-1,436,386,000	-1,606,002,000	-1,713,996,000	-1,461,974,000	-1,498,985,000	-1,340,847,000	-1,289,099,000	-1,361,934,000	-1,357,263,000	-1,434,016,000	-1,509,650,000	-1,660,445,000	-1,413,833,000	-1,263,437,000	-1,464,616,000	-1,436,044,000	-1,265,177,000	-1,481,019,000	-1,363,158,000	-1,583,136,000	-1,581,975,000	-1,592,124,000	-913,858,000	-913,858,000	-913,858,000	-551,857,000	-551,857,000	-551,857,000	-551,857,000	-551,857,000	-466,367,000	-610,049,000	-572,789,000	-666,403,000	-612,150,000	-559,741,000	-539,609,000	-570,811,000	-332,610,000	-243,143,000	-249,990,000	-156,933,000	-93,146,000	-24,667,000	-31,499,000	-47,426,000	-19,207,000	-37,500,000	-14,078,000	-3,346,000	-5,067,000	-13,841,000	-4,644,000	-13,716,000	-8,646,000	-3,761,000	-4,129,000	-8,101,000
less treasury stock, 66,209,321 shares at march 31, 2026 and 63,824,321 shares at december 31, 2025	-9,752,248,000
total corpay stockholders’ equity	3,510,128,000	3,883,864,000	4,075,691,000	3,928,573,000	3,453,836,000	3,122,342,000	3,087,283,000	2,750,705,000	3,254,421,000
noncontrolling interest	45,374,000	42,813,000	43,441,000	38,606,000	40,246,000	23,647,000	26,855,000	24,888,000	27,849,000
total equity	3,555,502,000	3,926,677,000	4,119,132,000	3,967,179,000	3,494,082,000	3,145,989,000	3,114,138,000	2,775,593,000	3,282,270,000
total liabilities, redeemable noncontrolling interest and equity	26,664,790,000	26,408,135,000
liabilities, redeemable noncontrolling interest and equity
less treasury stock		-8,958,942,000				-8,171,329,000				-6,887,515,000				-6,209,324,000				-4,804,124,000				-3,448,402,000				-1,870,584,000			-944,888,000	-944,888,000	-944,888,000	-944,888,000	-944,888,000				-542,495,000				-354,516,000	-353,707,000	-346,397,000	-346,397,000	-346,397,000	-375,663,000	-375,663,000	-375,663,000	-375,663,000	-375,663,000	-375,663,000	-375,663,000	-375,663,000	-175,663,000	-175,663,000	-175,663,000	-175,663,000	-175,663,000	-175,663,000	-175,663,000	-175,220,000
less treasury stock, 62,116,701 shares at september 30, 2025 and 61,255,653 shares at december 31, 2024			-8,453,552,000
total liabilities and equity			19,744,837,000	20,435,226,000	18,547,780,000	17,957,031,000	17,638,411,000	16,196,535,000	15,830,131,000
less treasury stock, 61,505,216 shares at june 30, 2025 and 61,255,653 shares at december 31, 2024				-8,261,846,000
less treasury stock, 61,412,887 shares at march 31, 2025 and 61,255,653 shares at december 31, 2024					-8,230,047,000
assets held for sale							66,265,000	78,592,000
liabilities held for sale							8,034,000	9,504,000
less treasury stock, 60,603,105 shares at september 30, 2024 and 57,043,835 shares at december 31, 2023							-7,932,768,000
less treasury stock, 60,294,882 shares at june 30, 2024 and 57,043,835 shares at december 31, 2023								-7,843,005,000
less treasury stock, 58,140,598 shares at march 31, 2024 and 57,043,835 shares at december 31, 2023									-7,209,291,000
liabilities and stockholders’ equity
total stockholders’ equity										3,282,359,000	3,059,451,000	3,263,436,000	2,881,860,000	2,541,493,000	2,227,052,000	2,687,669,000	2,904,416,000	2,866,580,000	3,174,985,000	3,488,847,000	3,296,499,000	3,355,411,000	2,937,750,000	2,966,434,000	2,796,229,000	3,340,180,000	3,340,180,000	3,340,180,000	3,676,522,000	3,676,522,000	3,676,522,000	3,676,522,000	3,676,522,000	3,430,418,000	3,405,500,000	3,341,812,000	3,084,038,000	3,178,521,000	3,082,705,000	2,987,769,000	2,830,047,000	2,962,571,000	2,907,004,000	2,780,174,000	2,753,137,000	1,558,807,000	1,475,520,000	1,366,180,000	1,243,893,000	1,173,902,000	1,050,014,000	983,013,000	913,822,000	1,035,068,000	941,920,000	883,041,000	811,436,000	761,824,000	713,030,000	667,667,000	625,945,000
total liabilities and stockholders’ equity										15,476,252,000	15,264,467,000	15,178,653,000	14,587,923,000	14,089,260,000	14,486,024,000	14,710,215,000	14,221,413,000	13,404,653,000	13,454,383,000	13,026,883,000	11,427,474,000	11,194,579,000	11,093,999,000	10,626,717,000	11,310,150,000	11,202,477,000	11,202,477,000	11,202,477,000	11,318,359,000	11,318,359,000	11,318,359,000	11,318,359,000	11,318,359,000	11,330,294,000	10,101,711,000	10,009,954,000	9,626,732,000	9,916,054,000	8,268,708,000	8,011,830,000	7,891,868,000	8,285,133,000	8,574,671,000	8,504,724,000	8,674,506,000	4,224,440,000	4,253,365,000	4,036,717,000	3,932,235,000	3,475,105,000	3,013,089,000	2,890,384,000	2,721,870,000	2,842,121,000	2,504,689,000	2,560,916,000	2,324,492,000	1,739,543,000	1,618,909,000	1,622,221,000	1,484,118,000
less treasury stock, 56,479,793 shares at september 30, 2023 and 54,445,881 shares at december 31, 2022											-6,743,022,000
less treasury stock, 54,503,878 shares at june 30, 2023 and 54,445,881 shares at december 31, 2022												-6,221,297,000
less treasury stock, 54,492,809 shares at march 31, 2023 and 54,445,881 shares at december 31, 2022													-6,218,921,000
less treasury stock, 53,864,524 shares at september 30, 2022 and 48,233,471 shares at december 31, 2021															-6,099,768,000
less treasury stock, 51,632,078 shares at june 30, 2022 and 48,233,471 shares at december 31, 2021																-5,599,426,000
less treasury stock, 50,010,141 shares at march 31, 2022 and 48,233,471 shares at december 31, 2021																	-5,226,860,000
notes payable and other obligations, less current portion1																		4,460,039,000
other noncurrent liabilities1																		221,392,000
less treasury stock, 45,907,550 shares at september 30, 2021 and 42,781,915 shares at december 31, 2020																			-4,270,679,000
less treasury stock, 44,349,068 shares at june 30, 2021 and 42,781,915 shares at december 31, 2020																				-3,864,987,000
less treasury stock, 43,422,648 shares at march 31, 2021 and 42,781,915 shares at december 31, 2020																					-3,618,784,000
less treasury stock, 42,600,539 shares at september 30, 2020 and 39,284,630 shares at december 31, 2019																							-3,399,356,000
less treasury stock, 41,600,625 shares at june 30, 2020 and 39,284,630 shares at december 31, 2019																								-3,160,960,000
less treasury stock, 41,473,937 shares at march 31, 2020 and 39,284,630 shares at december 31, 2019																									-3,128,730,000
less treasury stock, 37,403,733 shares at september 30, 2019 and 37,190,515 shares at december 31, 2018																											-1,870,584,000
less treasury stock, 37,217,136 shares at march 31, 2019 and 37,190,515 shares at december 31, 2018																												-1,870,584,000
less treasury stock 32,279,077 shares at september 30, 2017 and 29,423,022 shares at december 31, 2016																																		-944,887,000
less treasury stock 29,834,189 shares at june 30, 2017 and 29,423,022 shares at december 31, 2016																																			-594,887,000
accounts receivable																																				1,360,833,000		1,334,686,000	908,385,000	880,808,000	638,954,000	731,957,000	811,477,000	773,474,000	673,797,000	715,662,000	688,527,000	682,753,000	573,351,000	661,901,000	627,675,000	626,464,000	525,441,000	578,818,000	545,796,000	599,810,000	481,791,000	419,530,000	387,800,000	378,951,000	260,163,000
less accumulated depreciation and amortization																																				-122,497,000	-110,857,000	-106,908,000	-99,242,000	-91,562,000	-82,809,000	-79,127,000	-73,816,000	-65,542,000	-61,499,000	-71,156,000	-68,695,000	-63,567,000	-57,144,000	-59,491,000	-54,719,000	-51,212,000	-48,706,000	-70,466,000	-66,198,000	-65,252,000	-60,656,000	-60,069,000	-62,971,000	-60,314,000	-56,195,000
net property and equipment																																				149,037,000	142,504,000	144,486,000	90,423,000	85,605,000	80,760,000	75,860,000	73,162,000	72,066,000	73,563,000	56,184,000	56,500,000	54,891,000	53,956,000	48,797,000	46,654,000	45,892,000	45,196,000	46,542,000	35,677,000	34,227,000	32,724,000	30,366,000	27,799,000	27,097,000	26,818,000
current portion of notes payable and other obligations																																				731,708,000		727,763,000													146,091,000	122,375,000	162,174,000	228,639,000	129,873,000	179,359,000	140,354,000	15,243,000	15,243,000	11,134,000	11,617,000
less treasury stock 29,423,022 shares at march 31, 2017 and december 31, 2016, respectively																																				-542,495,000
equity method investment																																					36,200,000	79,717,000	90,803,000	82,626,000	76,568,000	125,176,000	121,807,000	124,086,000	141,933,000	147,512,000	162,383,000
less treasury stock, 28,423,022 and 28,162,706 shares at september 30, 2016 and december 31, 2015, respectively																																						-390,309,000
less treasury stock, 28,355,168 and 28,162,706 shares at june 30, 2016 and december 31, 2015, respectively																																							-380,854,000
less treasury stock, 28,163,877 and 28,162,706 shares at march 31, 2016 and december 31, 2015, respectively																																								-354,659,000
preferred stock, 0.001 par value...
preferred stock, .001 par value...
convertible preferred stock, .001 par value...
common stock, .001 par value...																																																													112,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31

operating activities
net income	353,714,000	265,616,000	278,379,000	284,078,000	243,875,000	246,004,000	276,262,000	251,663,000	229,803,000	255,857,000	271,496,000	239,702,000	214,835,000	225,319,000	248,885,000	262,171,000	217,952,000	225,004,000	234,007,000	196,247,000	184,239,000	209,851,000	188,817,000	158,488,000	147,060,000	174,937,000	302,000,000	157,694,000	176,852,000	174,937,000	282,697,000	202,823,000	130,987,000	123,693,000	95,424,000	132,804,000	114,185,000	109,972,000	52,830,000	116,770,000	98,678,000	94,153,000	109,540,000	95,509,000	88,549,000	75,109,000	68,120,000	78,620,000	73,099,000	64,662,000	60,071,000	59,648,000	54,401,000	42,079,000	37,772,000	40,514,000	36,714,000	32,335,000
adjustments to reconcile net income to net cash from operating activities:
depreciation	35,377,000	40,220,000	32,767,000	29,781,000	28,396,000	31,204,000	30,459,000	29,512,000	28,931,000	27,955,000	28,289,000	27,759,000	25,980,000	24,944,000	23,283,000	22,643,000	21,140,000	19,966,000	19,511,000	18,470,000	17,624,000	17,031,000	16,543,000	15,819,000	15,788,000	12,397,000	14,762,000	13,141,000	12,636,000	12,397,000	11,503,000	13,503,000	10,926,000	10,667,000	10,750,000	9,395,000	8,335,000	7,976,000	7,521,000	7,845,000	7,598,000	7,498,000	6,317,000	5,107,000	4,872,000	4,801,000	4,723,000	4,108,000	4,023,000	4,031,000	4,285,000	3,543,000	3,169,000	3,119,000	2,974,000	2,946,000	2,806,000	2,725,000
stock-based compensation	27,495,000	27,811,000	27,592,000	28,868,000	18,366,000	36,131,000	28,506,000	27,108,000	24,979,000	26,169,000	29,073,000	34,748,000	26,096,000		34,180,000	34,017,000	32,631,000		16,453,000	17,885,000	17,747,000	8,315,000	11,905,000	8,989,000	14,175,000	14,403,000	15,732,000	20,702,000	19,102,000	14,403,000	24,400,000	24,654,000	21,150,000	23,093,000	13,921,000	17,405,000	17,434,000	15,186,000	45,735,000	13,887,000	13,549,000	16,951,000	11,357,000	7,993,000	7,687,000	10,612,000	14,235,000	4,382,000	3,897,000	4,162,000	4,988,000	6,494,000	3,959,000	3,834,000	6,121,000	3,639,000	7,842,000	4,141,000
provision for credit losses on accounts and other receivables	42,350,000	32,801,000	27,679,000	31,501,000	30,661,000	21,572,000	28,076,000	28,143,000	25,342,000		29,077,000						25,478,000		10,898,000
amortization of deferred financing costs and discounts	3,715,000	5,860,000	10,363,000	2,568,000	2,274,000	2,118,000	1,796,000	2,051,000	2,029,000	1,832,000	1,843,000	1,787,000	1,787,000	1,799,000	1,818,000	2,163,000	1,968,000	1,928,000	1,655,000	1,777,000	1,471,000	1,458,000	2,142,000	1,532,000	1,354,000	1,339,000	1,307,000	1,357,000	1,339,000	1,339,000	1,541,000	1,611,000	1,886,000	1,914,000	2,014,000	1,917,000	1,829,000	1,822,000	1,754,000	1,778,000	1,773,000	1,744,000
amortization of intangible assets and premium on receivables	79,449,000	76,382,000	60,396,000	61,569,000	63,792,000	61,236,000	59,087,000	54,830,000	55,829,000	55,991,000	56,461,000	55,917,000	58,252,000	64,849,000	53,930,000	55,831,000	55,662,000	55,046,000	54,726,000	50,748,000	48,105,000	47,653,000	46,936,000	46,343,000	48,688,000	59,105,000	52,469,000	54,125,000	55,974,000	59,105,000
loss on extinguishment of debt		0	0	0	1,596,000	0								0	0			9,964,000	0												0
deferred income taxes	30,147,000	10,599,000	-13,004,000	-17,516,000	-7,983,000	-45,733,000	-9,310,000	-10,322,000	647,000	-27,767,000	-7,112,000	-11,300,000	-499,000	-25,187,000	2,877,000	-12,764,000	1,900,000	-5,220,000	3,349,000	4,905,000	7,992,000	-9,365,000	2,983,000	-1,408,000	-7,322,000	-4,829,000	3,584,000	139,000	-1,644,000	-4,829,000	-209,620,000	-5,432,000	-29,207,000	-3,453,000	-5,115,000	-14,318,000	-7,120,000	-2,128,000	58,266,000	13,254,000	-22,156,000	-18,738,000	-40,436,000	-3,312,000	1,429,000	603,000	-929,000	-1,926,000	-1,586,000	-1,012,000	-5,838,000	2,668,000	-150,000	-17,000	-2,057,000	-98,000	-425,000	-340,000
gain on disposition of business	-121,423,000																														1,000
other non-cash operating expense	24,406,000	16,147,000	11,849,000	-8,654,000	-46,000	456,000	271,000	9,000	292,000		-987,000	815,000	663,000
changes in operating assets and liabilities
accounts and other receivables	-843,811,000	434,024,000	-192,847,000	-174,712,000	-565,649,000	407,718,000	-87,365,000	-114,395,000	-382,889,000		-443,915,000	-736,534,000	370,962,000		275,468,000	-406,736,000	-818,969,000		-314,326,000	-237,981,000	-468,593,000		-309,995,000	203,633,000	156,052,000	-288,152,000		-121,332,000	-231,375,000	-288,152,000		-59,815,000
prepaid expenses and other current assets	39,033,000	-47,160,000	-18,680,000	-7,931,000	-27,266,000	62,110,000	24,039,000	-64,396,000	-12,587,000	-44,950,000	36,202,000	37,936,000	40,099,000	283,057,000	-210,667,000	-66,672,000	-23,261,000	-4,275,000	75,304,000	55,970,000	59,269,000	-40,626,000	-20,111,000	91,365,000	-45,149,000	32,074,000	-8,032,000	822,000	-52,514,000	32,074,000	112,750,000	-67,870,000	-2,325,000	-16,453,000	6,592,000	3,345,000	-2,550,000	-2,086,000	-15,288,000	2,700,000	-1,671,000	1,695,000	5,856,000	5,249,000	-1,174,000	-7,111,000	1,700,000	-3,166,000	-1,802,000	3,194,000	-2,495,000	-7,160,000	4,697,000	-1,889,000	2,849,000	19,340,000	-1,573,000	-3,035,000
derivative assets and liabilities	-38,044,000	-16,715,000	-13,720,000	-54,217,000	10,442,000	-2,337,000	-18,301,000	3,772,000	1,452,000	-25,339,000	6,672,000	13,612,000	-28,223,000
other assets	-138,000	1,298,000	-9,191,000	19,912,000	991,000	-14,815,000	939,000	3,708,000	-22,021,000	21,090,000	3,693,000	4,256,000	25,141,000	63,945,000	-56,743,000	-39,330,000	-8,940,000	8,462,000	7,655,000	16,106,000	4,609,000	6,527,000	5,301,000	3,874,000	-3,046,000	-7,101,000	-5,510,000	-4,504,000	-8,317,000	-7,101,000	-5,579,000	-328,000	-12,377,000	-2,673,000	-11,230,000	247,000	2,334,000	-11,696,000	773,000	-336,000	-1,126,000	-1,835,000	11,995,000	849,000	-934,000	545,000	326,000	-742,000	-791,000	40,113,000	-1,262,000	-3,023,000	-4,447,000	-37,821,000	-1,854,000	1,033,000	0	-1,114,000
accounts payable, accrued expenses and customer deposits	311,110,000	8,116,000	-580,516,000	945,000,000	126,400,000	-125,682,000	61,086,000	329,274,000	398,544,000	285,396,000	79,937,000	795,151,000	-446,508,000	-725,610,000	-13,725,000	273,463,000	381,921,000	-48,737,000	133,867,000	142,167,000	202,862,000	-201,962,000	453,406,000	-133,815,000	-27,646,000	194,589,000	-389,097,000	134,011,000	87,883,000	194,589,000	-42,127,000	174,723,000	86,039,000	103,711,000	-126,261,000	157,486,000	135,365,000	125,429,000						-9,382,000	24,326,000	109,670,000		32,405,000	6,773,000	50,101,000		63,752,000	-66,794,000	57,508,000		-23,423,000	-27,995,000	84,165,000
net cash from operating activities	-56,620,000	812,738,000	-378,933,000	1,140,247,000	-74,151,000	648,672,000	400,788,000	540,921,000	350,184,000	1,197,263,000	77,189,000	499,015,000	327,665,000	316,190,000	396,754,000	154,106,000	-112,253,000	597,522,000	243,099,000	278,592,000	77,850,000	257,893,000	412,528,000	382,135,000	420,033,000	200,702,000	348,002,000	280,291,000	74,387,000	200,702,000	256,233,000	240,486,000	124,789,000	54,215,000	301,626,000	195,430,000	87,351,000	121,505,000	230,132,000	326,040,000	131,009,000	67,403,000	290,842,000	159,771,000	106,227,000	51,494,000	167,674,000	125,299,000	96,402,000	-13,690,000	102,329,000	69,929,000	77,136,000	-113,934,000	209,108,000	68,063,000	11,248,000	-8,794,000
capital expenditures	-51,092,000	-52,441,000	-50,908,000	-52,636,000	-44,771,000	-44,109,000	-45,778,000	-44,096,000	-41,193,000	-36,664,000	-38,236,000	-42,185,000	-36,737,000	-43,797,000	-41,002,000	-35,242,000	-31,387,000	-37,075,000	-28,690,000	-26,239,000	-19,526,000	-23,406,000	-18,149,000	-18,613,000	-18,257,000	-15,214,000	-25,075,000	-21,698,000	-19,400,000	-15,214,000	-20,634,000	-16,859,000	-17,804,000	-14,796,000	-17,134,000	-17,120,000	-13,018,000	-11,739,000	-12,349,000	-13,292,000	-8,129,000	-8,105,000	-8,791,000	-6,727,000	-5,968,000	-5,584,000	-5,437,000	-5,240,000	-5,346,000	-4,762,000	-5,477,000	-5,203,000	-4,868,000	-3,563,000	-5,046,000	-2,492,000	-3,322,000	-2,594,000
free cash flows	-107,712,000	760,297,000	-429,841,000	1,087,611,000	-118,922,000	604,563,000	355,010,000	496,825,000	308,991,000	1,160,599,000	38,953,000	456,830,000	290,928,000	272,393,000	355,752,000	118,864,000	-143,640,000	560,447,000	214,409,000	252,353,000	58,324,000	234,487,000	394,379,000	363,522,000	401,776,000	185,488,000	322,927,000	258,593,000	54,987,000	185,488,000	235,599,000	223,627,000	106,985,000	39,419,000	284,492,000	178,310,000	74,333,000	109,766,000	217,783,000	312,748,000	122,880,000	59,298,000	282,051,000	153,044,000	100,259,000	45,910,000	162,237,000	120,059,000	91,056,000	-18,452,000	96,852,000	64,726,000	72,268,000	-117,497,000	204,062,000	65,571,000	7,926,000	-11,388,000
investing activities
acquisitions, net of cash acquired			0	-929,000	-153,719,000	-576,205,000	-185,848,000	-3,546,000	-56,325,000	1,587,000	-303,220,000	-3,000	-126,691,000	-56,800,000	-126,373,000	2,120,000	-35,864,000	-57,068,000	-430,058,000	-71,267,000	-43,727,000	-8,230,000	-72,065,000	-25,000	-467,000	-3,875,000	-17,044,000	12,000	64,000	-3,875,000		-598,718,000				-1,317,912,000	-4,161,000	-9,006,000	-40,518,000	-9,067,000	-7,103,000	-851,000		-72,069,000	-170,558,000	-19,292,000	-351,372,000	-220,015,000	-62,183,000	-94,773,000	-628,000	-154,329,000	-35,480,000	-10,000	-311,830,000	-21,148,000
purchases of property and equipment	-51,092,000	-52,441,000	-50,908,000	-52,636,000	-44,771,000	-44,109,000	-45,778,000	-44,096,000	-41,193,000	-36,664,000	-38,236,000	-42,185,000	-36,737,000	-43,797,000	-41,002,000	-35,242,000	-31,387,000	-37,075,000	-28,690,000	-26,239,000	-19,526,000	-23,406,000	-18,149,000	-18,613,000	-18,257,000	-15,214,000	-25,075,000	-21,698,000	-19,400,000	-15,214,000	-20,634,000	-16,859,000	-17,804,000	-14,796,000	-17,134,000	-17,120,000	-13,018,000	-11,739,000	-12,349,000	-13,292,000	-8,129,000	-8,105,000	-8,791,000	-6,727,000	-5,968,000	-5,584,000	-5,437,000	-5,240,000	-5,346,000	-4,762,000	-5,477,000	-5,203,000	-4,868,000	-3,563,000	-5,046,000	-2,492,000	-3,322,000	-2,594,000
proceeds from disposal of a business, net of cash disposed	420,210,000									0
other		9,374,000	-9,374,000	0	14,572,000	5,570,000	0	3,373,000	-4,826,000	0	0	0	4,401,000					-2,362,000	0	24,000	57,000		-75,000	-77,000	-92,000	-3,642,000	-11,583,000	0	-7,550,000	-3,642,000	-32,626,000	0	0	-6,327,000	0	2,077,000	-647,000	-19,000	-35,000	-197,000	-69,000	-76,000	-269,000	-91,000	-125,000	-246,000	-14,125,000	-80,000	3,000	-178,000	-1,361,000				0	0
net cash from investing activities	369,118,000	1,510,284,000	-60,282,000	-38,722,000	-183,918,000	-429,238,000	-231,626,000	-44,269,000	-102,344,000	-35,077,000	-144,431,000	-42,188,000	-159,027,000	-100,597,000	-167,375,000	-33,122,000	-67,251,000	-94,143,000	-458,748,000	-99,796,000	-63,244,000	-31,636,000	-37,251,000	-18,638,000	-18,724,000	-22,731,000	45,033,000	-21,686,000	-26,886,000	-22,731,000	-156,219,000	-299,076,000	-21,384,000	-21,123,000	-18,040,000	-1,333,621,000	-17,179,000	-20,745,000	-52,867,000	-22,359,000	-15,232,000	-8,956,000	-2,313,889,000	-78,796,000	-176,526,000	-24,876,000	-356,809,000	-225,255,000	-67,529,000	-99,535,000	-6,105,000	-159,532,000	-40,348,000	-3,573,000	-316,876,000	-23,640,000	-4,107,000	-2,594,000
financing activities
proceeds from issuance of common stock	11,718,000	4,752,000	7,056,000	23,883,000	32,079,000	243,556,000	84,427,000	9,403,000	90,838,000	12,540,000	35,054,000	32,749,000	33,399,000	27,295,000	3,272,000	10,027,000	8,810,000	622,000	12,238,000	8,576,000	27,345,000	41,017,000	2,803,000	19,703,000	73,274,000	19,975,000	7,358,000	18,824,000	9,523,000	19,975,000	24,498,000	3,760,000	1,202,000	15,230,000	2,611,000	10,656,000	7,577,000	387,000	5,949,000	6,872,000	4,534,000	2,571,000	7,719,000	13,645,000	3,765,000	4,512,000	7,638,000	10,289,000	7,255,000	5,256,000	5,796,000	9,807,000	3,847,000	7,737,000	3,411,000	4,211,000	371,000	484,000
repurchase of common stock	-785,971,000	-500,235,000	-191,706,000	-32,159,000	-58,718,000	-248,750,000	-92,174,000	-658,241,000	-288,833,000	-139,949,000	-534,937,000	-2,376,000	-9,597,000	-109,556,000	-500,342,000	-372,566,000	-422,736,000	-533,445,000	-405,692,000	-254,544,000	-162,041,000	-61,501,000	-231,048,000	-27,124,000	-530,237,000	-88,292,000	-578,045,000	0	-292,359,000	-88,292,000	-1,000	-349,999,000			-152,186,000	-9,455,000
borrowings on securitization facility	321,000,000	68,000,000	116,000,000	170,000,000	146,000,000	9,000,000			114,000,000	-89,000,000	148,000,000	-36,000,000	-3,000,000		-118,000,000	164,000,000	318,000,000									18,000,000	-45,000,000	-8,000,000	110,000,000	18,000,000		53,000,000							-51,000,000	-99,000,000	85,000,000	4,000,000	281,400,000	-30,800,000	30,900,000	44,500,000	-45,000,000	-8,000,000	17,000,000	87,000,000		30,000,000	-16,000,000	61,000,000
deferred financing costs	-349,000	-27,998,000	0	0	-10,827,000	0	-5,317,000	0	-3,176,000	-138,000					-9,945,000	0	-337,000
proceeds from notes payable		900,000,000	0	0	750,000,000	0	500,000,000	0	325,000,000						0				0
principal payments on notes payable	-51,535,000	-49,285,000	-49,285,000	-49,285,000	-49,285,000	-47,425,000	-41,562,000	-25,532,000	-25,531,000	-23,500,000	-23,500,000	-23,500,000	-23,500,000	-23,500,000	-23,500,000	-2,731,937,000	-45,063,000	-45,062,000	-43,188,000	-378,062,000	-41,188,000	-41,188,000	-41,187,000	-41,188,000	-51,722,000	-34,500,000	-394,805,000	-34,500,000	-34,500,000	-34,500,000	-34,500,000	-321,931,000	-33,362,000	-33,363,000	-33,375,000	-33,375,000	-25,875,000	-25,875,000	-25,875,000	-25,875,000	-25,875,000	-25,875,000	-526,250,000	-6,875,000	-6,875,000	-6,875,000	-6,875,000	-6,875,000	-6,875,000	-7,500,000	-6,922,000	-15,992,000	-3,750,000	-3,750,000	-3,750,000	-3,750,000	-329,736,000	-1,729,000
borrowings from revolver	3,177,000,000	5,699,000,000	1,945,000,000	2,036,000,000	2,454,000,000	2,822,000,000	3,014,000,000	2,583,000,000	1,570,000,000	2,239,960,000	2,144,000,000	2,387,000,000	1,964,000,000	2,898,000,000	2,788,000,000	1,060,000,000	490,000,000	770,000,000	735,000,000	75,000,000	330,000,000	45,000,000	625,000,000	0	573,500,000	420,258,000	659,072,000	60,000,000	353,761,000	420,258,000																					125,000,000	185,000,000
payments on revolver	-3,135,000,000	-4,730,000,000	-1,984,000,000	-2,237,000,000	-3,120,000,000	-2,535,000,000	-2,932,000,000	-1,945,000,000	-1,866,000,000	-2,348,960,000	-1,953,000,000	-2,327,000,000	-2,490,000,000	-2,868,000,000	-2,302,000,000	-956,000,000	-400,000,000	-1,180,000,000	-175,000,000	-270,000,000	-353,851,000	-209,008,000	-561,255,000	-522,184,000	-204,460,000	-439,351,000	-201,179,000	-297,752,000	-160,758,000	-439,351,000																				-25,000,000
borrowings on swing line of credit	46,678,000										-75,027,000	-54,969,000	310,719,000													5,009,000		10,103,000	8,623,000	5,009,000		-2,445,000	-11,394,000	21,639,000																	-2,874,000
net cash from financing activities	-416,174,000	1,664,036,000	-180,640,000	-63,942,000	142,297,000	228,753,000	415,474,000	-80,687,000	-158,551,000	-396,752,000	-259,648,000	-24,096,000	-217,715,000	-271,105,000	-162,515,000	172,213,000	-49,821,000	-235,297,000	220,552,000	375,252,000	-16,579,000	-194,874,000	-189,494,000	-717,982,000	-314,451,000	-98,993,000	-221,483,000	-251,572,000	-5,767,000	-98,993,000	1,839,000	317,904,000	-86,899,000	19,094,000	-222,444,000	1,094,716,000	39,086,000	-157,389,000	-145,801,000	-248,928,000	-110,695,000	-142,641,000	2,218,458,000	-57,975,000	82,675,000	-80,893,000	182,120,000	143,521,000	46,493,000	63,591,000	-114,163,000	126,250,000	-62,248,000	112,149,000	260,218,000	-5,293,000	-27,696,000	8,992,000
effect of foreign currency exchange rates on cash	-71,937,000	90,489,000	2,890,000	110,352,000	42,850,000	-146,853,000	23,079,000	-71,345,000	-28,148,000	60,588,000	-68,832,000	9,103,000	29,298,000	43,812,000	-122,417,000	-26,202,000	68,068,000	-26,324,000	-55,269,000	73,733,000	-43,124,000	74,376,000	-6,269,000	-6,405,000	-209,859,000	12,653,000	4,791,000	-3,921,000	-78,797,000	12,653,000	-23,014,000	10,864,000	1,512,000	19,356,000	8,441,000	-44,175,000	-15,491,000	8,795,000	-6,702,000	-16,538,000	-300,000	-13,482,000	-22,451,000	-16,533,000	1,892,000	-456,000	-569,000	9,219,000	-7,074,000	-9,402,000	1,527,000	7,835,000	-6,080,000	7,318,000	-4,575,000	-3,046,000	1,976,000	7,371,000
net decrease in cash and cash equivalents and restricted cash	-175,613,000												-19,779,000				-161,257,000				-45,097,000
cash and cash equivalents and restricted cash, beginning of period	8,991,940,000		0				0	0	3,141,535,000		0	0	2,289,180,000		0	0	2,250,695,000		0	0	1,476,619,000		0	0	1,675,237,000	1,130,870,000		0	0	1,130,870,000
cash and cash equivalents and restricted cash, end of period	8,816,327,000		-616,965,000				607,715,000	344,620,000	3,202,676,000		-395,722,000	441,834,000	2,269,401,000		-55,553,000	266,995,000	2,089,438,000		-50,366,000	627,781,000	1,431,522,000		179,514,000	-360,890,000	1,552,236,000	1,222,501,000		3,112,000	-37,063,000	1,222,501,000
supplemental cash flow information
cash paid for interest	136,288,000	133,996,000	118,581,000	119,774,000	119,022,000	126,294,000	131,892,000	122,139,000	115,773,000	121,285,000	111,249,000	111,200,000	104,650,000	91,331,000	64,987,000	39,356,000	33,967,000	36,358,000	41,328,000	27,086,000	27,732,000	27,896,000	30,110,000	28,060,000	40,394,000	35,634,000	42,964,000	40,482,000	37,669,000	35,634,000	34,272,000	10,713,000	35,241,000	33,190,000	21,814,000	18,164,000	15,051,000	15,310,000	16,578,000	17,076,000	17,593,000	21,290,000	9,860,000	6,441,000	6,533,000	6,264,000	12,845,000	4,779,000	4,399,000	3,863,000	3,902,000	3,649,000	3,181,000	4,028,000	3,748,000	6,878,000	153,000	4,182,000
cash paid for income taxes	102,807,000	129,330,000	119,416,000	147,242,000	114,745,000	109,480,000	79,226,000	146,408,000	38,925,000	88,576,000	80,995,000	203,327,000	35,442,000	48,664,000	93,914,000	143,357,000	72,296,000	82,693,000	33,059,000	81,928,000	32,041,000	46,226,000	62,299,000	23,851,000	32,939,000	16,830,000	44,941,000	49,581,000	96,152,000	16,830,000	134,843,000	69,192,000	99,654,000	88,503,000	22,352,000	15,254,000	52,521,000	11,824,000	36,041,000	17,105,000	14,242,000	15,992,000	15,571,000	10,856,000	31,832,000	20,865,000	14,613,000	24,575,000	21,694,000	38,426,000	8,741,000	5,264,000	18,160,000	6,004,000	14,034,000	14,887,000	17,181,000	3,103,000
goodwill impairment
acquisitions, net of cash acquired*
investment in equity method investment
proceeds from disposition, net of cash
proceeds from redeemable noncontrolling interest
borrowing (payments) on swing line of credit		0	-23,308,000
net increase in cash and cash equivalents and restricted cash		4,077,547,000	-616,965,000	1,147,935,000	-72,922,000	301,334,000	607,715,000	344,620,000	61,141,000	826,022,000	-395,722,000			-11,700,000	-55,553,000			241,758,000	-50,366,000			105,759,000	179,514,000	-360,890,000	-123,001,000	91,631,000	176,343,000	3,112,000	-37,063,000	91,631,000
cash and cash equivalents and restricted cash, beginning of year					4,456,345,000
cash and cash equivalents and restricted cash, end of year					4,383,423,000
proceeds from sale of cost method investment			0
payments on swing line of credit																			108,000	-17,846,000	-33,311,000
proceeds from disposition of a business, net of cash disposed
(payments on) borrowings from swing line of credit						0
investment gain								-36,000	-167,000										0
borrowings (payments) on securitization facility																		20,000,000	98,000,000	85,000,000	215,000,000													85,000,000																						-12,000,000	8,000,000	10,000,000
(payments) borrowings on swing line of credit								-33,818,000	-75,429,000													19,069,000	-16,232,000	18,862,000	-22,741,000
benefit from credit losses on accounts and other receivables													39,270,000		37,272,000
gain on sale of assets/business
other non-cash operating income														-319,000	176,000								-214,000	-230,000	-38,000	-57,000	-46,000	-36,000	-47,000	-57,000	-12,000					-244,000
accounts receivable and other receivables
borrowings (payments) on swing line of credit														0	0	-1,311,000	1,505,000
investment loss																	152,000								2,371,000		0				667,000
investment (gain) loss													-190,000								-9,000		1,330,000
stock based compensation
benefit from losses on accounts and other receivables																					2,477,000		13,485,000
proceeds from disposal of investment																						0
deferred financing costs paid and debt discount																						-163,000	-1,500,000				-4,761,000				-1,678,000
proceeds from issuance of notes payable																															0
other non-cash operating loss																	113,000
provision for losses on accounts and other receivables
deferred financing costs and debt discount
proceeds from disposal of a business																					9,000										0
other non-cash operating income2
proceeds from disposal of an asset/business
(payments) borrowings on securitization facility																						12,000,000	34,000,000	-165,000,000	-151,973,000													-63,000,000
benefit from losses on accounts receivable																									117,746,000		20,857,000	17,025,000	14,498,000	11,997,000												8,145,000	6,303,000	5,826,000	6,729,000	5,554,000	4,798,000	4,870,000	4,739,000	4,460,000	5,108,000	5,835,000	5,996,000	4,957,000	5,626,000	4,829,000	4,924,000	3,847,000
provision for losses on accounts receivable																										11,997,000					8,908,000	8,301,000	14,660,000	12,988,000	11,373,000	10,783,000	6,893,000	6,836,000	6,342,000	5,265,000
loss on write-off of fixed assets
borrowings from (payments on) swing line of credit
non cash investing activity, notes assumed in acquisitions
1 reflects the impact of the company's adoption of asu 2016-02 "leases", on january 1, 2019 using the modified retrospective transition method. the adoption of the leases guidance resulted in an adjustment to other assets, other current liabilities and other noncurrent liabilities in our consolidated balance sheet for the cumulative effect of applying the standard. financial results reported in periods prior to 2019 are unchanged.
2 reflects the impact of the company's adoption of accounting standards update 2016-18, statement of cash flows (topic 230), which was adopted by the company on january 1, 2018 and applied retrospectively to results for 2017. the adoption of topic 230 resulted in the statement of cash flows presenting the changes in the total of cash, cash equivalents and restricted cash. as a result, the company will no longer present transfers between cash and cash equivalents and restricted cash in the statement of cash flows.
see accompanying notes.
amortization of intangible assets																															52,952,000	54,003,000	52,240,000	52,654,000	49,180,000	46,341,000	38,752,000	27,362,000	39,685,000	39,869,000	40,415,000	39,771,000	30,412,000	19,255,000	18,210,000	18,272,000	17,778,000	12,296,000	10,217,000	9,022,000	9,332,000	8,687,000	7,081,000	7,276,000	5,621,000	4,782,000	4,587,000	4,600,000
amortization of premium on receivables																															1,374,000	1,650,000	1,544,000	1,544,000	1,478,000	1,348,000	1,349,000	990,000	811,000	812,000	814,000	813,000	814,000	815,000	816,000	814,000	815,000	816,000	816,000	816,000	816,000	816,000	817,000	816,000	816,000	816,000	818,000	816,000
restricted cash																															7,770,000	16,634,000	-9,456,000	-19,283,000	26,438,000	-42,299,000	-10,188,000	23,743,000	-41,373,000	-93,000	210,000	5,580,000	516,000	4,017,000	688,000	1,404,000	1,764,000	-1,533,000	872,000	4,327,000	-1,488,000	-2,059,000	7,082,000	-1,447,000	1,637,000	5,609,000	3,311,000	-3,978,000
excess tax benefits related to stock-based compensation																																					-2,068,000	-1,118,000	-1,972,000	-14,816,000	-3,221,000	-6,418,000	-3,539,000	-34,617,000	-2,508,000	-16,126,000	-8,216,000	-12,303,000	-6,173,000	-5,843,000	-6,178,000	-8,427,000	-5,867,000	-8,883,000	-5,557,000	-6,349,000	-1,034,000	-787,000
acquisitions, net of cash acquired1
payment of contingent consideration																																							-1,867,000	-502,000	0	-39,808,000
net increase in cash
cash and cash equivalents, beginning of year
cash and cash equivalents, end of year
borrowings from revolver – a facility																																755,000,000	0	90,000,000		965,107,000	100,000,000	40,000,000						40,000,000
payments on revolver – a facility																																-588,907,000	-55,952,000	-159,949,000		-380,940,000	-180,000,000	-110,000,000		-135,000,000	-156,082,000	-120,736,000		-119,008,000	-127,574,000	-134,803,000
net increase in cash and cash equivalents																																270,178,000	18,018,000	71,542,000										6,467,000				52,784,000	68,292,000	-59,036,000				1,960,000				4,975,000
cash and cash equivalents, beginning of period																																0	0	475,018,000		0	0	447,152,000		0	0	477,069,000		0	0	338,105,000		0	0	283,649,000		0	0	285,159,000		0	0	114,804,000
cash and cash equivalents, end of period																																270,178,000	18,018,000	546,560,000		-87,650,000	93,767,000	399,318,000		38,215,000	4,782,000	379,393,000		6,467,000	14,268,000	283,374,000		52,784,000	68,292,000	224,613,000		44,482,000	-31,540,000	287,119,000		36,084,000	-18,579,000	119,779,000
equity method investment loss																																	2,354,000	2,377,000	38,603,000	2,744,000	-7,184,000	2,193,000	43,742,000	6,108,000	5,118,000	2,700,000	4,897,000	2,200,000
accounts receivable																																		-236,564,000	188,459,000	-134,710,000	-209,784,000	-182,761,000	111,327,000	162,218,000	-119,143,000	-114,385,000	384,407,000	59,725,000	-44,483,000	-153,184,000	139,362,000	6,631,000	1,485,000	-192,483,000	107,613,000	-61,390,000	66,651,000	-183,976,000	60,467,000	13,917,000	-21,773,000	-132,635,000
other non-cash operating expenses																																							-1,766,000	-1,704,000	-347,000	-425,000
deferred financing costs paid																																			0								-43,397,000	0	-25,000	-521,000			-137,000	-1,830,000	-2,980,000	-1,000	-114,000	-681,000	0	-103,000	-7,186,000	-550,000
borrowings from revolver —a facility
payments on revolver —a facility
payments on foreign revolver —b facility
borrowings (payments) from swing line of credit
borrowings from notes payable																																																								0
net decrease in cash and cash equivalents																																						-47,834,000		38,215,000	4,782,000	-97,676,000				-54,731,000
borrowings from swing line of credit																																							55,000	-10,042,000	-21,424,000	30,865,000	-47,069,000	10,537,000	41,507,000	15,000
other non-cash operating gains																																						-215,000
borrowings from foreign revolver —b facility
payments on acquired debt
accounts payable, accrued expenses, income taxes and deferred revenue																																								-27,517,000	105,641,000	30,154,000
payments on foreign revolver – b facility																																												0	-3,736,000	-3,601,000
amortization of deferred financing costs																																											1,197,000	537,000	531,000	531,000	842,000	841,000	833,000	760,000	683,000	545,000	541,000	510,000	513,000	508,000	377,000	466,000
fair value adjustment for contingent consideration arrangements
accounts payable, accrued expenses, and customer deposits
borrowings from revolver- a facility
payments on revolver- a facility
borrowings from foreign revolver- b facility
payments on foreign revolver- b facility
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
borrowings from foreign revolver – b facility
loss on early extinguishment of debt																																																							0	0
borrowings from revolver- b facility
deferred financing fees paid
payments on us revolver																																																-85,000,000
borrowings from us revolver																																																225,000,000
borrowings from foreign revolver																																																26,599,000
payments on foreign revolver																																																-30,712,000
net proceeds from initial public offering
payment of dividends on convertible preferred stock
proceeds from (payments on) securitization facility
principal payments on revolver																																																			-230,000,000	-65,000,000
adoption of new accounting guidance related to asset securitization facility
borrowings on notes payable
borrowings from revolver and swing line of credit																																																						38,960,000
proceeds from issuance of convertible preferred stock
principal payments on other obligations
non-cash investing activity
non-cash issuance of preferred stock
payments on securitization facility

FLEETCOR Technologies, Inc(NYSE:FLT)

FLEETCOR Technologies, Inc
(NYSE:FLT)