NetSpend 2013 Annual Report Download - page 49

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equity investments, TSYS de México and CUP Data.
The foregoing related party services are performed
under contracts that are similar to its contracts with
unrelated third party customers. The Company
believes the terms and conditions of transactions
between the Company and these related parties are
comparable to those which could have been
obtained in transactions with unaffiliated parties.
Through its related party transactions, TSYS
generates accounts receivable and liability accounts
with TSYS de México and CUP Data. The Company
had an accounts receivable balance of $7,400 and
$7,500 associated with related parties as of
December 31, 2013 and 2012, respectively. The
Company had an accounts payable balance of
$12,000 and $77,000 with related parties as of
December 31, 2013 and 2012, respectively.
The table below details revenues derived from
affiliated companies for the years ended
December 31, 2013, 2012 and 2011:
(in thousands) 2013 2012 2011
Total revenues:
CUP Data ................. $229 172 136
TSYS de México ........... 68 72 62
Total revenues .............. $297 244 198
The Company and TSYS de México are parties to an
agreement where TSYS de México provides
processing support to the Company. Processing
support fees paid to TSYS de México were $148,000,
$186,000 and $168,000 for the years ended
December 31, 2013, 2012 and 2011, respectively.
NOTE 4 Cash and Cash Equivalents
Cash and cash equivalent balances at December 31
are summarized as follows:
(in thousands) 2013 2012
Cash and cash equivalents in
domestic accounts ........ $192,468 152,373
Cash and cash equivalents in
foreign accounts .......... 85,762 95,239
Total ................... $278,230 247,612
The Company maintains operating accounts outside
the United States denominated in currencies other
than the U.S. dollar. All amounts in domestic
accounts are denominated in U.S. dollars.
As of December 31, 2013 and 2012, the Company
had $5.0 million and $2.5 million, respectively, of
cash and cash equivalents in Money Market accounts
that had an original maturity date of 90 days or less.
47