Green Dot 2014 Annual Report Download - page 94

Note 19—Commitments and Contingencies (continued)
During the year ended December„31, 2014, we received net cash proceeds of„$6.4 million„in connection with the
settlement of a lawsuit. We recorded this settlement, net of legal costs incurred in connection with the litigation, as
other income on our consolidated statement of operations.
From time to time we enter into contracts containing provisions that contingently require us to indemnify various
parties against claims from third parties. These contracts primarily relate to: (i) contracts with our card issuing banks,
under which we are responsible to them for any unrecovered overdrafts on cardholders’ accounts; (ii) certain real estate
leases, under which we may be required to indemnify property owners for environmental and other liabilities, and other
claims arising from our use of the premises; (iii) certain agreements with our officers, directors, and employees, under
which we may be required to indemnify these persons for liabilities arising out of their relationship with us; and (iv)
contracts under which we may be required to indemnify our retail distributors, suppliers, vendors and other parties with
whom we have contracts against claims arising from certain of our actions, omissions, violations of law and/or
infringement of patents, trademarks, copyrights and/or other intellectual property rights.
Generally, a maximum obligation under these contracts is not explicitly stated. Because the obligated amounts
associated with these types of agreements are not explicitly stated, the overall maximum amount of the obligation
cannot be reasonably estimated. With the exception of overdrafts on cardholders’ accounts, historically, we have not
been required to make payments under these and similar contingent obligations, and no liabilities have been recorded
for these obligations in our consolidated balance sheets.
For additional information regarding overdrafts on cardholders’ accounts, refer to Note 5 — Accounts Receivable.
GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)
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Note 20—Significant Customer Concentration
A credit concentration may exist if customers are involved in similar industries, economic sectors, and geographic
regions. Our retail distributors operate in similar economic sectors but diverse domestic geographic regions. The loss
of a significant retail distributor could have a material adverse effect upon our card sales, profitability, and revenue
growth.
Revenue Concentrations
Revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating
revenues were as follows:
Year Ended December 31,
2014 2013 2012
Walmart 54% 64% 64%
Excluding stock-based retailer incentive compensation of $8.9 million, $8.7 million, and $8.3 million for the years
ended December„31, 2014, 2013, and 2012, respectively, revenues derived from our products sold at retail distributors
constituting greater than 10% of our total operating revenues were as follows:
Year Ended December 31,
2014 2013 2012
Walmart 55% 65% 65%
Included in these percentages are operating revenues derived from the Walmart MoneyCard program, which
represented 38%, 45% and 49% for each of the years ended December„31, 2014, 2013, and 2012, respectively. No
other retail distributor made up greater than 10% of our total operating revenues for the years ended December„31,
2014, 2013, and 2012.