NetSpend 2015 Annual Report Download - page 45

Consolidated Balance Sheets
December 31,
(in thousands, except per share data) 2015 2014
Assets
Current assets:
Cash and cash equivalents (Note 5) ..................................................... $ 389,328 289,183
Accounts receivable, net of allowances for doubtful accounts, billing adjustments and merchant
losses of $4.0 million and $5.2 million as of 2015 and 2014, respectively (Note 4) ............. 314,705 283,203
Deferred income tax assets (Note 15) ................................................... 24,670 15,190
Prepaid expenses and other current assets (Note 6) ....................................... 154,199 98,974
Current assets of discontinued operations (Note 2) ........................................ —4,003
Total current assets ................................................................ 882,902 690,553
Goodwill (Note 7) ...................................................................... 1,545,424 1,547,397
Computer software, net of accumulated amortization of $680.6 million and $613.3 million as of 2015
and 2014, respectively (Note 9) ........................................................ 405,070 366,148
Other intangible assets, net of accumulated amortization of $257.1 million and $181.9 million as of
2015 and 2014, respectively (Note 8) .................................................... 328,320 404,107
Property and equipment, net of accumulated depreciation and amortization of $457.3 million and
$423.2 million as of 2015 and 2014, respectively (Note 10) ................................. 289,898 290,585
Contract acquisition costs, net of accumulated amortization of $287.9 million and $276.1 million as
of 2015 and 2014, respectively (Note 11) ................................................ 247,811 236,305
Equity investments, net (Note 12) ........................................................ 106,118 100,468
Deferred income tax assets (Note 15) ..................................................... 5,598 7,002
Other assets .......................................................................... 97,159 91,016
Total assets ..................................................................... $3,908,300 3,733,581
Liabilities
Current liabilities:
Accrued salaries and employee benefits ................................................. $ 66,594 38,001
Accounts payable (Note 4) ............................................................ 52,213 48,793
Current portion of long-term borrowings (Note 13) ........................................ 50,364 43,784
Current portion of obligations under capital leases (Note 13) ................................ 3,468 7,127
Other current liabilities (Note 14) ....................................................... 166,579 154,805
Current liabilities of discontinued operations (Note 2) ...................................... —4,003
Total current liabilities ............................................................ 339,218 296,513
Long-term borrowings, excluding current portion (Notes 4 and 13) ............................. 1,379,971 1,398,132
Deferred income tax liabilities (Note 15) ................................................... 216,470 211,820
Obligations under capital leases, excluding current portion (Note 13) .......................... 3,663 6,974
Other long-term liabilities ............................................................... 96,886 98,006
Total liabilities ................................................................... 2,036,208 2,011,445
Redeemable noncontrolling interest in consolidated subsidiary ................... 23,410 22,492
Commitments and contingencies (Note 16)
Equity
Shareholders’ equity: (Notes 18 ,19 ,20 and 21)
Common stock — $0.10 par value. Authorized 600,000 shares; 202,769 and 202,775 issued as
of 2015 and 2014, respectively; 182,781 and 184,939 outstanding as of 2015 and 2014,
respectively ..................................................................... 20,277 20,278
Additional paid-in capital ............................................................ 241,891 171,270
Accumulated other comprehensive income, net ......................................... (33,544) (11,926)
Treasury stock, at cost (19,988 and 17,836 shares as of 2015 and 2014, respectively) .......... (641,664) (453,230)
Retained earnings .................................................................. 2,256,058 1,966,370
Total shareholders’ equity ......................................................... 1,843,018 1,692,762
Noncontrolling interests in consolidated subsidiary .......................................... 5,664 6,882
Total equity ................................................................... 1,848,682 1,699,644
Total liabilities and equity ....................................................... $3,908,300 3,733,581
See accompanying Notes to Consolidated Financial Statements
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