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52
GREEN DOT CORPORATION
CONSOLIDATED BALANCE SHEETS
December 31,
2012 2011
(In thousands, except par value)
Assets
Current assets:
Unrestricted cash and cash equivalents $ 293,590 $223,033
Federal funds sold 3,001 2,400
Investment securities available-for-sale, at fair value 115,244 20,647
Settlement assets 36,127 27,355
Accounts receivable, net 40,441 41,307
Prepaid expenses and other assets 31,952 11,822
Income tax receivable 7,386 3,371
Net deferred tax assets 2,478 6,664
Total current assets 530,219 336,599
Restricted cash 634 12,926
Investment securities, available-for-sale, at fair value 68,543 10,563
Accounts receivable, net 10,931 4,147
Loans to bank customers, net of allowance for loan losses of $475 and $0 as of December 31, 2012 and 2011,
respectively 7,552 10,036
Prepaid expenses and other assets 1,530 202
Property and equipment, net 58,376 27,281
Deferred expenses 12,510 12,604
Net deferred tax assets 4,629 —
Goodwill and intangible assets 30,804 11,501
Total assets $ 725,728 $425,859
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 31,411 $ 15,441
Deposits 198,451 38,957
Obligations to customers 46,156 —
Settlement obligations 3,639 27,355
Amounts due to card issuing banks for overdrawn accounts 50,724 42,153
Other accrued liabilities 29,469 16,248
Deferred revenue 19,557 21,500
Net deferred tax liabilities ——
Total current liabilities 379,407 161,654
Other accrued liabilities 18,557 6,239
Deferred revenue —19
Net deferred tax liabilities —4,751
Total liabilities 397,964 172,663
Stockholders’ equity:
Convertible Series A preferred stock, $0.001 par value: 10 shares authorized and 7 shares issued and
outstanding as of December 31, 2012 and 2011, respectively 77
Class A common stock, $0.001 par value; 100,000 shares authorized as of December 31, 2012 and 2011,
respectively; 31,798 and 30,162 shares issued and outstanding as of December 31, 2012 and 2011,
respectively 31 30
Class B convertible common stock, $0.001 par value, 100,000 shares authorized as of December 31,
2012 and 2011, respectively; 4,197 and 5,280 shares issued and outstanding as of December 31, 2012
and 2011, respectively 45
Additional paid-in capital 158,656 131,383
Retained earnings 168,960 121,741
Accumulated other comprehensive income 106 30
Total stockholders’ equity 327,764 253,196
Total liabilities and stockholders’ equity $ 725,728 $425,859
See notes to consolidated financial statements