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55
GREEN DOT CORPORATION
CONSOLIDATED BALANCE SHEETS
December 31,
2015 2014
Assets (In thousands, except par value)
Current assets:
Unrestricted cash and cash equivalents $ 772,128 $724,158
Federal funds sold 1480
Restricted cash 5,793 2,015
Investment securities available-for-sale, at fair value 49,106 46,650
Settlement assets 69,165 148,694
Accounts receivable, net 42,153 48,917
Prepaid expenses and other assets 30,511 22,458
Income tax receivable 6,434 16,290
Total current assets 975,291 1,009,662
Restricted cash —2,152
Investment securities available-for-sale, at fair value 132,433 73,781
Loans to bank customers, net of allowance for loan losses of $426 and $444 as of December 31, 2015 and
2014, respectively 6,279 6,550
Prepaid expenses and other assets 6,416 6,034
Property and equipment, net 78,877 77,284
Deferred expenses 14,509 17,326
Net deferred tax assets 3,864 4,299
Goodwill and intangible assets 473,779 417,200
Total assets $ 1,691,448 $ 1,614,288
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 37,186 $ 36,444
Deposits 652,145 565,401
Obligations to customers 61,300 98,052
Settlement obligations 5,074 4,484
Amounts due to card issuing banks for overdrawn accounts 1,067 1,224
Other accrued liabilities 87,635 79,137
Deferred revenue 22,901 24,418
Note payable 20,966 20,966
Total current liabilities 888,274 830,126
Other accrued liabilities 37,894 31,495
Note payable 100,686 121,651
Net deferred tax liabilities 1,272 2,026
Total liabilities 1,028,126 985,298
Commitments and contingencies (Note 19)
Stockholders’ equity:
Convertible Series A preferred stock, $0.001 par value: 10 shares authorized as of December 31, 2015
and 2014; 2 shares issued and outstanding as of December 31, 2015 and 2014 22
Class A common stock, $0.001 par value; 100,000 shares authorized as of December 31, 2015 and 2014;
50,502 and 51,146 shares issued and outstanding as of December 31, 2015 and 2014, respectively 51 51
Additional paid-in capital 379,376 383,296
Retained earnings 284,108 245,693
Accumulated other comprehensive loss (215)(52)
Total stockholders’ equity 663,322 628,990
Total liabilities and stockholders’ equity $ 1,691,448 $ 1,614,288
See notes to consolidated financial statements