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56
GREEN DOT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2015 2014 2013
(In thousands, except per share data)
Operating revenues:
Card revenues and other fees $ 318,083 $ 253,155 $ 227,227
Processing and settlement service revenues 182,614 179,289 183,359
Interchange revenues 196,523 178,040 171,757
Stock-based retailer incentive compensation (2,520) (8,932) (8,722)
Total operating revenues 694,700 601,552 573,621
Operating expenses:
Sales and marketing expenses 230,441 235,227 218,370
Compensation and benefits expenses 168,226 123,083 127,287
Processing expenses 102,144 79,053 89,856
Other general and administrative expenses 134,560 105,200 88,976
Total operating expenses 635,371 542,563 524,489
Operating income 59,329 58,989 49,132
Interest income 4,737 4,064 3,440
Interest expense (5,944) (1,276) (72)
Other income —7,129 —
Income before income taxes 58,122 68,906 52,500
Income tax expense 19,707 26,213 18,460
Net income 38,415 42,693 34,040
Income attributable to preferred stock (1,102) (4,842) (5,360)
Net income available to common stockholders $ 37,313 $ 37,851 $ 28,680
Basic earnings per common share: $ 0.73 $ 0.92 $ 0.78
Diluted earnings per common share: $ 0.72 $ 0.90 $ 0.76
Basic weighted-average common shares issued and outstanding: 51,332 40,907 35,875
Diluted weighted-average common shares issued and outstanding: 51,875 41,770 37,156
See notes to consolidated financial statements