NetSpend 2014 Annual Report Download - page 41

Consolidated Balance Sheets
December 31,
(in thousands, except per share data) 2014 2013
Assets
Current assets:
Cash and cash equivalents (Note 5) ..................................................... $ 289,183 247,700
Accounts receivable, net of allowances for doubtful accounts and billing adjustments of $5.2
million and $3.4 million as of 2014 and 2013, respectively ................................ 283,203 255,773
Deferred income tax assets (Note 15) ................................................... 15,190 14,158
Prepaid expenses and other current assets (Note 6) ....................................... 98,974 95,109
Current assets of discontinued operations (Note 2) ........................................ 4,003 41,193
Total current assets ................................................................ 690,553 653,933
Goodwill (Note 7) ...................................................................... 1,547,397 1,541,574
Other intangible assets, net of accumulated amortization of $181.9 million and $105.4 million as of
2014 and 2013, respectively (Note 8) .................................................... 404,107 481,419
Computer software, net of accumulated amortization of $613.3 million and $536.4 million as of 2014
and 2013, respectively (Note 9) ........................................................ 366,148 363,880
Property and equipment, net of accumulated depreciation and amortization of $423.2 million and
$391.5 million as of 2014 and 2013, respectively (Note 10) ................................. 290,585 259,968
Contract acquisition costs, net of accumulated amortization of $276.1 million and $251.8 million as
of 2014 and 2013, respectively (Note 11) ................................................ 236,305 184,828
Equity investments, net (Note 12) ........................................................ 100,468 94,133
Deferred income tax assets (Note 15) ..................................................... 7,002 3,972
Other assets .......................................................................... 91,016 87,146
Long-term assets of discontinued operations (Note 2) ....................................... —15,715
Total assets ....................................................................... $3,733,581 3,686,568
Liabilities
Current liabilities:
Accounts payable .................................................................... $ 48,793 33,651
Current portion of long-term borrowings (Note 13) ........................................ 43,784 34,257
Accrued salaries and employee benefits ................................................. 38,001 38,339
Current portion of obligations under capital leases (Note 13) ................................ 7,127 22,662
Other current liabilities (Note 14) ....................................................... 154,805 159,170
Current liabilities of discontinued operations (Note 2) ...................................... 4,003 9,136
Total current liabilities .............................................................. 296,513 297,215
Long-term borrowings, excluding current portion (Note 13) ................................... 1,398,132 1,428,251
Deferred income tax liabilities (Note 15) ................................................... 211,820 228,727
Obligations under capital leases, excluding current portion (Note 13) .......................... 6,974 7,500
Other long-term liabilities ............................................................... 98,006 81,600
Long-term liabilities of discontinued operations (Note 2) ..................................... —1,197
Total liabilities ..................................................................... 2,011,445 2,044,490
Redeemable noncontrolling interest in consolidated subsidiary ............................ 22,492 39,652
Commitments and contingencies (Note 16)
Equity
Shareholders’ equity: (Notes 18, 19, 20, and 21)
Common stock — $0.10 par value. Authorized 600,000 shares; 202,775 and 202,790 issued as of
2014 and 2013, respectively; 184,939 and 187,717 outstanding as of 2014 and 2013,
respectively ....................................................................... 20,278 20,279
Additional paid-in capital ............................................................. 171,270 165,841
Accumulated other comprehensive income, net ........................................... (11,926) 3,749
Treasury stock, at cost (17,836 and 15,073 shares as of 2014 and 2013, respectively) ............ (453,230) (326,996)
Retained earnings ................................................................... 1,966,370 1,718,204
Total shareholders’ equity ........................................................... 1,692,762 1,581,077
Noncontrolling interests in consolidated subsidiaries ........................................ 6,882 21,349
Total equity ....................................................................... 1,699,644 1,602,426
Total liabilities and equity ........................................................... $3,733,581 3,686,568
See accompanying Notes to Consolidated Financial Statements
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